In terms of net worth performance, excluding the new products established during the year, only 19 of 603 non-commodity ETFs had positive returns in the third quarter of this year, and many commodity-themed ETFs led the market in the third quarter. Huaxia Feed Soybean Meal Futures ETF ranked first in the increase with a net growth rate of 15.39%, and once again became the ETF with the highest income in the year, followed by Huitianfu CSI Energy ETF and Guotai CSI Coal ETF, with net returns in the third quarter of 7.93% and 4.75% respectively.
In addition, the earnings of Huaxia Nasdaq 100ETF, Guangfa CSI Quan Zhi Energy ETF, Cathay Pacific Nasdaq 100ETF and Guangfa Nasdaq 100ETF all exceeded 2.5% in the third quarter. Guotai Standard & Poor's 500ETF, Bosera Standard & Poor's 500ETF, Haifutong SSE 10-year local government bond ETF, Haifutong SSE 5-year local government bond ETF, Guo Fu SSE Vaccine and Biotechnology ETF, Haifutong SSE Investment Bond ETF, Penghua CSI 5-year local government bond ETF and Cathay Pacific SSE 10-year government bond ETF also exceeded/KLOC-in the third quarter.
In terms of the decline list, the theme tracking ETFs such as Hong Kong Stock Connect Technology, Hong Kong Stock Connect Internet, Hang Seng China Mainland enterprises' high dividend yield and new energy batteries suffered more losses in the third quarter; The returns of theme track ETFs such as virtual reality, consumer electronics, artificial intelligence, 5G communication and semiconductor chips have been at the bottom this year.
Commodity theme funds led the market.
In the first quarter of this year, Huaxia Feed Soybean Meal Futures ETF rode in the non-commodity ETF market with a quarterly income of more than 30%, and then the commodity-themed ETFs such as Guotai CSI Coal ETF, Jianxin Yisheng Zhengshang Institute Energy and Chemical Futures ETF, Huitianfu CSI Energy ETF and Dacheng Nonferrous Metal Futures ETF also once triggered a hot discussion in the market.
Subsequently, under the counterattack of the growth trajectory led by new energy, the performance of commodity theme funds was slightly inferior. In the third quarter, the net value of commodity-themed ETFs rose again. As of September 30th, the net growth rate of Huaxia Feed Soybean Meal Futures ETF was 15.39%, ranking first in the list of non-commodity ETFs in the third quarter, and once again becoming the ETF with the highest income in the year, with the income of 45.26% in the first three quarters.
Followed by Huitianfu CSI Energy ETF and Guotai CSI Coal ETF, the net return rate in the third quarter was 7.93% and 4.75% respectively. Judging from the net performance in the first three quarters, the annual returns of these two ETFs are 35.72% and 37.35% respectively. In addition, Guangfa CSI Energy ETF also rose by 4.04% in the third quarter, and the return in the first three quarters reached 27.33%.
Although the net performance is high, there is a phenomenon of profit redemption in commodity theme funds as a whole. Among them, Huaxia Feed Soybean Meal Futures ETF redeemed about 35 million shares in the third quarter, Guotai CSI Coal ETF redeemed 2170,000 shares, and the other two ETFs were all net purchases of no more than 60 million shares.
How to treat the performance of commodity market in the fourth quarter? "Looking ahead, for the protein powder market, due to the extremely tight supply and fierce consumption, the price of protein powder futures and spot market is very hot, but it is expected that with the subsequent listing of international oilseeds, the price of protein powder will fall back in the fourth quarter, driven by imports." Nanhua futures thinks that the price inflection point of protein powder may appear in the middle and late period of 10, considering the time when international oilseeds are listed and imported by sea.
The ETF fund manager of Huaxia Feed Soybean Meal Futures won the mid-year report, which mentioned that in the second half of the year, under the background of high global inflation, the soybean meal bull market may not end, and the gains can still be expected. Judging from the historical market, the third quarter is often the off-season of the soybean meal market, with soybean meal futures prices fluctuating widely and limited space above. Under the background that soybean meal and soybean meal demand are supported, if the supply side is driven by "weather conditions", soybean meal and soybean meal prices still have room to rise. However, due to the intensification of climate change, the price trend of agricultural products is relatively elusive compared with other commodities such as industrial products.
The 2022 interim report of Huitianfu CSI Energy ETF mentioned that in the second half of the year, global supply imbalance and local shortage are still important factors of regional inflation, and it is necessary to pay close attention to the changes in the global inflation environment. A moderate inflation environment is conducive to corporate profits in the consumer industry, but if CPI continues to rise to a high inflation environment, cyclical industries will maintain the fundamental characteristics of high ROE. Therefore, we should do a good job in the defensive deployment of current assets.
In addition, in a carbon-neutral environment, the reduction of energy supply will be the norm, which will further increase the value of energy as a national strategic material. Therefore, in addition to inflation, the profit of the energy industry is expected to maintain a good state in the second half of the year, and a large proportion of dividends in the first half of the year reflects the allocation value of the energy industry.
Broad-based ETF and medical track ETF have significant gold absorption effects.
From the change of fund share, the share of Guangfa Nasdaq 100ETF increased by143.59 million in the third quarter, ranking first in the market, with the latest scale reaching 108 billion yuan. The fund has also become the non-goods ETF with the largest increase in fund share during the year, reaching 65.438+07.337 billion shares, second only to the 65.438+08.634 billion shares of Huaxia Hang Seng Internet Technology ETF.
In addition, Huabao CSI Medical ETF, whose fund share reached a record high in the previous two weeks, increased its share by 83150,000 in the third quarter, second only to Guangfa Nasdaq 100 ETF, with the latest scale of 15795438+0 billion yuan. Coincidentally, the share of E Fund's CSI 300 medical and health ETF in the third quarter also increased significantly, reaching 7.99 billion copies, with the latest scale of1104 billion yuan. In the same period, both ETFs lost nearly 20%.
In the third quarter, the fund shares of Huaxia SSE 50ETF, Huaxia SSE science and technology innovation board 50ETF and Guolian 'an CSI Quan Zhi Semiconductor ETF increased by over 30 shares, with 6.077 billion shares, 53./kloc-0.90 billion shares and 3.934 billion shares respectively. The latest scales are 665.438+0.408 billion yuan, 29.346 billion yuan and 65.438+0.228 billion copies respectively.
On the other hand, at the other end of the ranking, 3.942 billion real estate ETFs were redeemed in the third quarter. At present, the latest scale is 4.003 billion yuan, which is more than 40% lower than 73 1 1 billion yuan at the end of the second quarter. In addition, Huatai Berry Dividend ETF, Southern MSCI China A50 Internet ETF and Huaxia Hang Seng Internet Technology ETF redeemed over 900 million shares in the third quarter.