Harvest 300ETF adopts the principle of "applying for physical redemption and determining the cost", which is why they think they have grasped the core of ETF. In other words, everyone needs to buy with a basket of stocks. The so-called basket of stocks means that you have to pay according to the proportion given by him. Buy 300 constituent stocks of Shanghai and Shenzhen 300, each with a certain number, for example: SDBA1000; Vanke A3800 china baoan 400; Wait; Only by buying enough 300 stocks as required can we use these stocks to buy a share of Harvest 300ETF. (The price per share is about 5 million. It is difficult for ordinary customers to participate in the subscription)
Huatai ETF, listed on Shanghai Stock Exchange, is characterized by T+0, which can be traded by using the subscription and redemption rules. However, this is not all about stock subscription. Instead, it adopts the model of stock plus cash. Shanghai uses stocks and Shenzhen uses cash. Buying enough shares in Shanghai and adding some cash to subscribe for a Huatai ETF is also a certain proportion. (Huatai's ETF share is relatively cheap, with an amount of about 2.4 million).
To sum up: there is basically no difference between the two in the secondary market. The difference between subscription and redemption is that the exchange has different rules on redemption.
The issue period of both is Jiashi 4.5-4.27; Huatai: 4.5-4.26; This period is the subscription period.
Harvest 4.23-4.26 in the last few days; Huatai 4.24-4.26; Now, you can subscribe with one stock (300 constituent stocks). The subscription quantity is greater than 1000 shares, and the subscription quantity is greater than 100 shares. There are not many relatively cost-effective stocks in this period. The amount won't be too big.