reporter: Huang Xiaocong editor: Ye Feng
Today, the kimi concept detonated multiple sectors, among which the film and television media sector performed particularly eye-catching, with many stocks hitting their daily limit, and in terms of ETFs, many theme funds rose by more than 3% today. In this issue of
, let’s find out what ETFs are related to film and television media themes? What index do they track?
7 "Film and Television" and "Media" theme ETFs
wind data shows that as of now, there are 7 ETFs with "Film and Television" and "Media" in their names, but only 3 have a scale of more than 200 million yuan.
Judging from these 7 ETFs, there are 5 indexes tracked, namely CSI Media Index, CSI Technology Media Communications 150 Index, CSI Film and Television Theme Index, CSI Shanghai-Hong Kong-Shenzhen Games and Culture Media Index and CSI Entertainment media index.
There is a big difference in average circulation market capitalization
Looking specifically at these five indexes, the CSI Media Index selects 50 listed company securities with larger total market capitalization from the marketing and advertising, culture and entertainment, digital media and other industries as index samples. The average circulating market value of sample stocks is 12.356 billion yuan.
The CSI Technology, Media and Communications 150 Index selects the securities of listed companies involved in the technology, media and communications industry as index samples. The average circulating market value of sample stocks is 29.465 billion yuan.
The CSI Film and Television Theme Index selects the securities of film and television content providers (including film and television production, online drama production and animation production, etc.), distributors, distributors and other listed companies that benefit from the development of film and television as index samples. The average circulating market value of sample stocks is 6.184 billion yuan.
The CSI Shanghai-Hong Kong-Shenzhen Game and Culture Media Index selects 50 listed company securities from A-shares and Hong Kong stocks whose business involves games, film and television, radio and television, marketing, publishing, education and cultural performances as index samples. The sample stocks The average circulating market value is 50.977 billion yuan.
The CSI Entertainment Media Index selects the securities of listed companies whose businesses involve video, live broadcast, games, movies, iptv/ott, digital publishing, digital marketing, online education, event performances, etc. that are in line with new technologies and new consumption development trends. Sample stocks The average circulating market value is 13.535 billion yuan.
Overall, the CSI Film and Television Theme Index sample stocks have the smallest average circulating market capitalization, and the CSI Shanghai-Hong Kong-Shenzhen Games and Culture Media Index has the largest average circulating market capitalization.
There is a big difference among the top ten heavyweight stocks
Specific to the top ten heavyweight stocks, the top ten weight stocks of the CSI Media Index account for 46.15%, of which only Focus Media accounts for more than 8%.
The top ten weights of the CSI Technology Media and Communications 150 Index accounted for only 24.82%, and only two stocks accounted for more than 3%.
The top ten weights of the CSI Film and Television Theme Index accounted for 55.39%, of which Wanda Film’s weight accounted for more than 8%.
The top ten weights of the CSI Shanghai-Hong Kong-Shenzhen Game and Culture Media Index accounted for 50.58%, of which Kuaishou-w and Tencent Holdings accounted for more than 8%.
The top ten weights of the CSI Entertainment and Media Index accounted for 49.75% in total, of which China Duty Free and Focus Media accounted for more than 8%.
In general, the differences among the top ten heavyweight stocks in these five indexes are still very obvious, among which the CSI Film and Television Theme Index has the highest concentration.
The returns in different time periods are obviously different.
Judging from the past performance of these indexes, the CSI Media Index has performed better in the past year and achieved positive returns. The CSI Technology Media and Communications 150 Index has the worst performance, with a decline. Close to 10%.
Looking at the time dimension of the past three years, the annualized returns of these five indexes are all negative. Among them, the CSI Shanghai-Hong Kong-Shenzhen Gaming and Cultural Media Index has the worst returns, with annualized returns exceeding -10%, while in In the time dimension of the past five years, the CSI Technology Media Communications 150 Index has performed relatively well.
Generally speaking, in different time periods, the five indexes have shown relatively large return differences. The performance of the CSI Media Index in the past year and the past three years has been relatively outstanding, and the CSI Technology Media and Communications 150 Index has performed particularly well in the past five years. The performance is better.
valuations are all in the lower area
Finally, judging from the current valuation levels of these indexes, it can be seen from the historical quantile where pb is located that the current valuation levels of these indexes are all at historically low positions. The high points of valuations basically occurred from 2015 to 2016, but there was also a relatively obvious rebound from 2020 to 2021.
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