Investment objective: Through strict indexation investment strategy, the fund portfolio can effectively track the underlying index, and strive to control the absolute value of the daily average tracking deviation between the net growth rate and the performance benchmark not to exceed 0.5%, and the annualized tracking error not to exceed 5% (denominated in USD assets). The underlying indexes of the Fund are the S&P upstream stock index of oil and gas (S(2) Public Offering of Fund and listed trading funds that track the S&P upstream stock index; (3) Money market instruments such as fixed-income securities, bank deposits and cash, and other products or financial instruments permitted by China Securities Regulatory Commission. The proportion of constituent stocks and alternative constituent stocks of the S&P upstream stock index is not less than 80% of the fund's net asset value, and the proportion of Public Offering of Fund and listed trading funds tracking the S&P upstream stock index is not higher than 65,438+00% of the fund's net asset value; The proportion invested in cash or government bonds with maturity within one year shall not be less than 5% of the fund's net asset value. If future laws, regulations or regulatory agencies allow other capital varieties or change the investment ratio limit, the fund manager can adjust the investment scope and investment ratio of the Fund accordingly after performing appropriate procedures.

Investment strategy: In principle, the Fund adopts a complete replication strategy, that is, the fund stock portfolio is constructed according to the composition and weight of the underlying index constituent stocks, and adjusted accordingly according to the changes of the underlying index constituent stocks and weights. However, when a sufficient number of shares cannot be obtained due to special circumstances (such as stock suspension, insufficient liquidity, etc.), the fund manager will adopt other reasonable methods to make appropriate substitutions and pursue performance as close as possible to the target index. The Fund can also invest a certain proportion of fund assets in public offering funds and listed trading funds related to the underlying index, so as to optimize the establishment of portfolio, save transaction costs and effectively track the performance of the underlying index. In the process of investment, the tracking error of the fund is mainly caused by the following aspects: 1. Open-end funds must maintain a certain proportion of cash assets in their daily operations; 2. During the adjustment period, the weights of the fund portfolio and the constituent stocks of the target index may be inconsistent; 3. There is a difference between the stock transaction price and the stock closing price in the process of capital replenishment; 4. Various transaction costs and expenses incurred in the operation of the fund; 5. Reinvestment of dividends of constituent stocks, etc. Fund managers will regularly analyze the attribution of tracking errors, providing quantitative decision-making basis for the next adjustment of fund portfolio and the control of tracking target index deviation risk. At the same time, in order to better achieve the investment objectives of the Fund, the Fund will also appropriately carry out securities lending business when conditions permit, with a view to reducing the tracking error level. At the same time, based on the needs of liquidity management and strategic investment, the Fund will appropriately invest in US short-term treasury bonds and other money market instruments. The purpose of fixed income investment is to ensure the liquidity of fund assets and effectively use fund assets to improve the investment income of fund assets.

Dividend policy: The income distribution of the Fund shall follow the following principles: (1) Each fund share of the Fund enjoys the same distribution right; (2) The bank transfer or other formalities incurred in the process of income distribution shall be borne by the investors themselves. When the investor's cash dividend is less than a certain amount, which is not enough to pay for bank transfer or go through other formalities, the fund registration institution can automatically convert the investor's cash dividend into fund shares according to the net value of fund shares on the ex-dividend date; (3) Under the premise of meeting the dividend conditions of relevant funds, the income of the Fund shall be distributed at most six times a year, and the proportion of each fund income distribution shall not be less than 65,438+00% of the distributable profit on the base date of income distribution; (4) If the fund contract has been in effect for less than 3 months, no income distribution may be made; (5) The income distribution method of the Fund is divided into cash dividends. (6) The time from the fund dividend payment date to the income distribution benchmark date (i.e. the deadline for calculating the distributable profit) shall not exceed 65,438+05 working days; (7) After the fund income distribution, the net value of each fund share cannot be lower than the face value, that is, the net value of the fund share minus the income distribution amount of each fund share on the base date of fund income distribution cannot be lower than the face value; (8) Where laws, regulations or regulatory agencies provide otherwise, such provisions shall prevail.

Risk-return characteristics: This fund is an American stock index securities investment fund, with higher risk and expected return than hybrid funds, bond funds and money market funds, and it is a product with higher expected risk.