From CSI 300 (3,245.907, -2.62, -0.08%), SSE 50, SSE 180 to CSI100 (2,945.237, -7.39, -0.25%), they are all compiled with market value weighted indexes, so Take the above card 50 as an example. Among the constituent stocks of 10, 7 are financial stocks, accounting for 5 1% of the total weight, which will lead to excessive correlation between investors' income and financial stocks. Although the issuance of 20 10 small and medium-sized funds has increased, the market is still dominated by large-cap funds. The number of index products seems to be numerous, but the difference is not great.
In fact, at the end of 2009, fund companies have tried to issue index products with equal weight. On June 29, 2009, 65438+February 29, the first equal weight index fund in China-Boshi Super-market ETF was established. The Fund takes the Shanghai Stock Exchange index as the tracking target, and each constituent stock accounts for 5% of the weight. "After more than a year of operation, we can basically achieve our original intention at that time-equal weight can avoid the situation that the weight of a single stock is too large. Since the index is adjusted every six months, the most weighted stock among the 20 stocks does not exceed 7.2%. Moreover, the semi-annual adjustment will reduce the weight of some stocks with high gains and increase the weight of some stocks with relatively low gains, which is equivalent to selling stocks with high valuations and buying stocks with low valuations, including the operation of value investment.