This time and that time.
Author | Market Cap Fengyun Fund Research Department
Edit | Xiaobai
So far, there has been no trace of the long-awaited Year of the Dragon, and Kimin has fallen deeper and deeper into the gutter of last year.
In this weak market, it was supposed to be a big guy who lost money, but there are still some products on the market that go against the grain and are still making money secretly.
Note: The full-text data is as of January 7, 2023, and the full-text fund selects products with a scale of more than 500 million.
First, the Yellow Sea, which bets on coal, continues to lie down and win
Boosted by the influx of funds into high-dividend stocks, the high-dividend sectors led by coal continued to strengthen, and the three funds managed by Huang Hai have also continued to make profits this year.
Huanghai won the 2022 public offering championship by betting on coal, benefiting from the continued high coal prices, and its funds still performed well last year, with more than 20% returns. In recent years, the bright market of coal has really made the Yellow Sea win.
(Tabulation: Market Cap APP; source: Choice data)
Among other funds that have performed better this year, the main heavy sectors are also in high-dividend sectors such as coal, electricity, and banks, and these defensive sectors are more favored by funds in a weak market.
(Source: Choice data)
On the other hand, in the list of decliners, in the past four trading days this year, many funds have fallen by more than 8%, and Taixin Small and Mid Cap Select Mix managed by Dong Jizhou has lost nearly 10% this year.
(Tabulation: Market Cap APP; source: Choice data)
Taixin's small and medium-sized market sector allocation is relatively extreme, most of the positions are allocated in electronics and computers, and the allocation of individual stocks is also relatively concentrated, eight of the top ten heavy positions become semiconductor stocks, and heavy stocks account for nearly 90% of the net value of the fund.
(Source: Choice data)
In the past year, TMT-related sectors such as electronics, computers, and communications, which were more active in the early stage, have suffered heavy losses, and the sectors have fallen by more than 5%, which can only be said to be one time and another.
(Source: Choice data)
Second, the share of dividend low-volatility ETF increased sharply, and the CSI 2000 ETF was sold off
Among the passive funds, the top performers are all coal, dividend, electricity and other related ETFs, of which coal ETFs and dividend ETFs have achieved positive returns of more than 4%, in addition, dividend low-volatility ETFs also have a return of 3.5%.
(Tabulation: Market Cap APP; source: Choice data)
Due to the outstanding performance of related products, among the top 10 funds in terms of share growth rate this year, there are three dividend-related products, which track the dividend low volatility, dividend low volatility 100 and the CSI dividend index, especially the dividend low volatility ETF, which has a share growth rate of 47% this year.
(Tabulation: Market Cap APP; source: Choice data)
The "dividend +" related strategies such as dividends, dividend low volatility, dividend enhancement, and Hong Kong stock dividends are really dazzling, but it doesn't matter, Fengyunjun has sorted them out for you in the ETF research series (4) and (5).
(Source: Market Value APP)
The ETFs that fell the least, mainly TMT-related funds, and three funds tracking the STAR 100. As of today's close, the STAR 50 and STAR 100 indices have hit record lows, driving related ETF funds to continue to decline.
(Tabulation: Market Cap APP; source: Choice data)
However, from the perspective of the change in shares, the shares that have been sold sharply are mainly broad-based ETFs tracking CSI 2000 and CSI 1000, of which CSI 2000 ETF has a share reduction rate of 44% this year.
(Tabulation: Market Cap APP; source: Choice data)
At the end of last year, its scale has risen sharply, and its share has doubled in only 4 trading days, and at the beginning of this year, 4 trading days were basically beaten back to its original shape.
(Source: Choice data)
In addition, the three ETFs that track the state-owned modern energy index have all seen a certain sell-off, although they have all achieved positive returns of 1.7% this year.
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