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Source: Brokerage China
has such an ETF. Since its establishment, as of the end of November this year, the cumulative net value has increased by 461%, and the annualized return rate is nearly 11%, bringing investors In order to provide a good income experience, it is E Fund Shenzhen Securities 100ETF Fund . Now, the option corresponding to this product is here!
On December 12, the Shenzhen Stock Exchange 100ETF option was officially listed on the Shenzhen Stock Exchange. The SZSE 100 ETF option is the first on-market derivative product based on the SZSE 100 Index in China, and it is also the first option variety for innovative blue-chip stocks . It is significantly different from existing listed varieties and forms a good complement. After the launch of SZSE 100 ETF options, the number of domestic ETF option products has increased to seven, covering the core indexes of the Shanghai and Shenzhen stock markets more completely, which is more conducive for investors to carry out risk hedging. The subject of the option contract is E Fund Shenzhen 100 ETF (code: 159901), which is the first ETF listed on the Shenzhen Stock Exchange and is currently the largest and most liquid ETF tracking the Shenzhen 100 Index. Fan Yue, vice president of
E Fund, said that ETF options have a positive role in promoting the development of the ETF market, helping to improve the pricing efficiency and market depth of the ETF market, and enhancing the tool attributes of ETF as an asset allocation carrier. The SZSE 100ETF options are highly complementary to the listed CSI 300, CSI 500, and ChiNext ETF options, which can further meet the diversified risk management needs and investment transaction needs of investors. The launch of the Shenzhen Stock Exchange 100ETF option will help further guide funds to increase the allocation of stocks with dual attributes of "blue chips + innovation", especially the Shenzhen Stock Exchange 100ETF, and help high-quality listed companies attract stable medium and long-term investment groups. Good opportunity for growth and development.
takes "one" as "hundred", and continues to iterate
outperforms partial stocks in long-term performance fund index
Shenzhen Stock Exchange 100 ETF established in March 2006 is the first ETF listed on the Shenzhen Stock Exchange and the first ETF product managed by E Fund , Fan Yue said that this is the beginning of the fund on the Shenzhen Stock Exchange, and it is also the first historic development opportunity for E Fund's ETF business. Since the establishment of E Fund Shenzhen Securities 100ETF Fund, as of the end of November this year, the accumulated net value has increased by 461%, and the annualized rate of return is nearly 11%, which has brought investors a better income experience.
Fan Yue said that the outstanding historical performance of the Shenzhen Stock Exchange 100 ETF is inseparable from the Shenzhen Stock Exchange's ingenious design and precise positioning of the Shenzhen Stock Exchange 100 Index. SZSE 100 Index (Total Income) was first released by Shenzhen Stock Exchange in early 2003. It is the first domestic product-type index clearly defined as an investment function. It is composed of 100 stocks with large market capitalization and good liquidity in Shenzhen Stock Exchange. It is highly representative of the Shenzhen market as a whole. The scientific and clear compilation plan made Shenzhen Stock Exchange 100 highly recognized by the market. At that time, media reports said that "one is worth a hundred", which means that through this "one" index, one of the most valuable stocks in Shenzhen can be allocated. Hundreds of stocks.
SZSE 100 Index, like the city of Shenzhen where it was born, never lacks in innovation and is always full of vitality. Over the past 20 years, the SZSE 100 Index has always focused on the main lines of investment at various stages, from real estate infrastructure driven by early investment, to food, beverage and home appliances under consumption upgrades, to computers and electronics in the Internet age, and the current new energy and electronics. and medicine, which profoundly reflects the process of my country's industrial upgrading. In each round of the market, innovative growth industries that lead the market and are sought after have a considerable proportion in the index.
The Shenzhen Stock Exchange 100 Index profoundly reflects behind the industrial upgrading, heavyweight is constantly changing. From 2009 to 2015 and now, only three constituent stocks have remained in the top ten, and all of them are in the consumer industry, which fully reflects the relatively clear competition pattern in the consumer field. In the field of technology innovation , the iteration speed of heavyweight stocks is very fast. From 2015 to the present, almost all technology stocks among the top ten heavyweight stocks in the Shenzhen Stock Exchange 100 have been changed over and over again, ensuring the long-term vitality of the index.
Looking back at history, Fan Yue said with deep emotion that the Shenzhen Stock Exchange shoulders the responsibility of service innovation.In 2004, the small and medium-sized board (merged) and in 2009 the ChiNext Board were established successively, attracting a large number of innovative companies to go public, and bred them into today's innovative market-oriented blue chip stocks. After nearly 20 years of development, the Shenzhen Stock Exchange 100 Index has delivered an excellent answer to the market. As of the end of November 2022, the average market value of the index constituent stocks is 122.7 billion yuan, and there are 38 companies with more than 100 billion yuan, which fully reflects the Shenzhen Stock Exchange. rapid development trajectory.
Shenzhen 100 Index has outstanding long-term returns. According to statistics, since the index base period on December 31, 2002, the cumulative return of Shenzhen 100 Index (price index) has been 400%, equivalent to an annualized return rate of 8.4%, which is not only ahead of the same period The A-share broad-based index is also ahead of the US S&P 500 index. In addition, since 2016, the return of the partial stock fund index, which is the vane of institutional investment, has continued to exceed the CSI 300, while the Shenzhen Stock Exchange 100 Index has slightly exceeded the partial stock fund index. In addition, the performance of the Shenzhen Stock Exchange 100 Index is more sustainable. Since 2016, the number of equity funds that have outperformed the Shenzhen Stock Exchange 100 Index every year is less than 1%.
In addition, the tracking error, trading activity, and asset management scale of E Fund SZSE 100 ETF have also been among the top among similar products for a long time, which fully reflects the characteristics and value of the index, allowing holders to enjoy the index bonus of SZSE 100 . According to Fan Yue, this is inseparable from the refined management of E Fund . Since the Shenzhen Stock Exchange 100 ETF was listed for more than 16 years, E Fund has been committed to developing innovative ETF products. Up to now, the company's ETF management scale has exceeded 100 billion, managed 52 ETF products, and won the best passive investment management company award from authoritative organizations for many times; the company has also precipitated a professional, stable and diversified ETF investment research team, and attaches great importance to technology The leading application of power has been committed to improving management efficiency and increasing safety factor through informatization and intelligence for many years, and there has never been a major risk accident.
Blue chips + distinctive innovation characteristics
Long-term investment value is worth looking forward to
Fan Yue said that the constituent stocks of the Shenzhen Stock Exchange 100 Index have undergone continuous iterations, and the market-oriented blue chips have distinctive characteristics, which are favored by institutional investors. According to the 2022 E Fund Shenzhen Securities 100ETF mid-year report, nearly 80% of product holders are institutional investors, and its top ten holders include central-level financial institutions, national social security funds, large state-owned banks, foreign banks, etc. It can be seen that its investment value is very worthy of attention.
1, Positioning Shenzhen's large-cap stocks to gather in Shenzhen's leading market
As of the end of November this year, the total market value of the Shenzhen Stock Exchange 100 Index exceeded 12 trillion yuan, which is equivalent to 4% of the total number of Shenzhen stocks covering 37% of the total market value of the Shenzhen market. The value of the constituent stocks reaches 122.7 billion yuan, and 98% of the large-cap stocks in the Shenzhen market exceeding 100 billion yuan are in the index. Therefore, the index has become the representative core index of the Shenzhen market and the core asset of the Shenzhen market. At present, the index constituent stocks gather leading companies from various sectors of the Shenzhen Stock Exchange, of which the main board (excluding the original small and medium-sized board) accounts for 33%, the ChiNext board accounts for 31%, and the original small and medium-sized board accounts for 36%, with a relatively balanced distribution. Among the index weighted constituent stocks, there are not only traditional high-quality blue chips in Shenzhen, but also leaders in various sub-sectors, all of which are at the forefront of their corresponding industry market capitalization, such as CATL , Wuliangye , Midea Group , BYD , Eastern Fortune , Mindray Medical , etc.
2, facing the new economic development field, long-term benefit from technological innovation and industrial upgrading
The current industry distribution in the Shenzhen Stock Exchange 100 Index is in line with the direction of China'seconomic transformation and industrial upgrading. From the perspective of innovation attributes, the weight of strategic emerging industries accounts for 73% ;From the perspective of the new economy, the weight of the three key areas of high-end manufacturing, digital economy, and green and low-carbon accounted for 70%; full of innovative vitality, it is not only a concentrated representative of my country's real economy, but also benefits from technological entrepreneurship and industry in the long term upgrade.
3, with dual attributes of profit growth Can be the benchmark of market growth style
big waves wash sand, after 20 years of iterative development of Shenzhen Stock Exchange 100 Index, it has a strong background of blue chips in the market: first of all, profitabilityStronger, the index ROE has reached 13.7% in the past five years, which is better than the 11.9% of the Shanghai Stock Exchange 50 Index, 11.5% of the Shanghai and Shenzhen 300 Index , 11.8% of the CSI 100 Index and 10.6% of the ChiNext Index. Secondly, the index brings together the main players of dividends in Shenzhen. In 2021, the total cash dividends of the 100 constituent stocks of the index will be about 180 billion yuan, accounting for 45% of the overall dividend ratio in Shenzhen. Among them, 82 companies have paid dividends for three consecutive years. Investors The experience is better.
Finally, the index has the characteristics of scientific and technological innovation, has strong core competitiveness, and has high growth potential. In the past three years, the compound net profit growth rate has reached 15.4%, which is ahead of the Shanghai and Shenzhen 300, Shanghai 50, CSI 100 and other large markets The broad-based index reflects a significant market growth style. To sum up, the Shenzhen Stock Exchange 100 Index combines the attributes of innovative blue chips, and the growth style of the market is remarkable, which is in sharp contrast with other indexes. It is a high-quality target for grasping the growth market of the market.
SZSE 100ETF Options Enrichment Current Investment Strategy
Fan Yue said that the SZSE 100 Index gathers leading companies on the main board of the Shenzhen Stock Exchange and the ChiNext Board, with outstanding attributes of innovation and growth, and distinctive characteristics of market-oriented blue chips, which profoundly reflect industries at all stages of economic development Changes, the dual characteristics of "blue chips + growth" and the index's continuous self-renewal mechanism have made the Shenzhen 100 have a relatively stable performance in different periods and different styles of market environments. At present, the index price-earnings ratio valuation is about 22 times, which is in the historical quantile of 33.5% in the past five years, lower than the historical valuation center, and has good investment value.
Among the ETFs tracking the Shenzhen 100 Index, the E Fund SZSE 100 ETF has the largest scale and the best liquidity. According to Wind statistics, as of November 30, 2022, the E Fund SZSE 100 ETF has reached 6.1 billion yuan, with an average daily turnover of Stable at more than 100 million yuan. Coupled with the advantages of convenient transactions and low fees, E Fund Shenzhen Securities 100ETF is not only an important tool for institutional investors to allocate assets, but also a popular and indexed investment tool suitable for all kinds of investors. Since its establishment in 2006, it has been favored by investors for a long time. Enduring favor. Because the Shenzhen Stock Exchange 100 constituent stocks include both blue-chip stocks and some stocks with excellent performance on the SME board, the E Fund Shenzhen Stock Exchange 100 ETF has both long-term investment and short-term holding functions. At the beginning of its establishment, this product was defined by investors as "Short and long".
The listing of SZSE 100 ETF options today has a positive effect on promoting the development of the ETF market and stabilizing the spot market. Fan Yue said that after the announcement of the approval of ChiNext ETF options and China Securities 500ETF options, the shares of ChiNext ETFs and China Securities 500ETF have increased significantly, and the average daily turnover has increased by more than 90% and 190% respectively. positions of institutions There has also been a significant increase in the number and size of . "The introduction of ETF options has further enriched futures and spot investment strategies, increased the enthusiasm of institutional investors to participate in spot market transactions, attracted more funds to increase the allocation of corresponding ETF products, and helped high-quality companies attract stable medium and long-term investment groups and achieve better growth. opportunity for growth," he said.
In addition, in terms of exerting the insurance function and enhancing the stability of the spot market, options have a unique insurance function, which is conducive to strengthening investors' confidence in holding the underlying spot, easing the selling pressure of the spot, and enhancing market stability. For example, in a market downturn, investors can carry out risk-averse transactions by holding put options, lock in the selling price of assets, and provide protection for spot positions. While reducing position losses, they can retain the potential gains from market rebounds and enhance long-term confidence in holding shares.
Fan Yue said that the successive listing of ETF options on ChiNext and Shenzhen Stock Exchange 100 ETF options this year is a historic opportunity for E Fund’s ETF business. SZSE 100 ETF is the first ETF product managed by E Fund, and also the first ETF product in Shenzhen. Since 2006, E Fund has participated in the innovation and breakthrough of major product types ranging from single market to cross-market, cross-border, cross-asset categories, and cross-time zones. These two ETF products as the underlying options are both innovative products in the early years of the industry. With the stable listing of SZSE 100ETF options, E Fund will continue to strengthen standardized operations and refined management, further reduce tracking errors, continuously increase product scale and liquidity, and increase the value of SZSE 100ETF.market depth. At the same time, it will actively participate in option trading, steadily promote product innovation, and meet the wealth management needs of a wider range of investors.
Editor in charge: Ye Shuyun
Proofreading: Li Lingfeng
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