In the past few days, looking at piles of small and micro market capitalization stocks waiting to rise every day, I feel a little overkill in my heart. But at this time, some friends want to avoid getting involved in small-capitalization theme ETFs, while others want to buy the bottom. Well, let's take a look at Lala Data today!
As for why the small market capitalization should be strategically weak, we analyzed it last month, in fact, there are three reasons: high dividends, lack of new concepts and long-term regulatory pressure, so I will not repeat them here.
Here's a look at what are the "small" and "big" ETFs, and how we rank the data of the major ETFs.
First of all, the top 20 ETFs (class) with the lowest average market capitalization of constituent stocks, with CSI 2000, CNI 2000, Education, CSI 1000 and STAR 100 ranking the top five. It should be noted here that the GEM 200 series is actually ranked third, but it is not considered mainstream due to its poor liquidity.
As we can see above, the CSI 2000 is obviously "smaller" than the CNI 2000, and the real estate chain, as well as the concepts of robots, financial technology, games and other themes, are also very small and easily dragged down by this wave of adjustments. So even if we are bullish on robots, we must also take into account the impact of market style.
Let's use the median market capitalization to make a ranking, and the CSI 2000, education, building materials, CNI 2000 and SSE ETF rank in the top five. The median is the size of the 25th of the 50 big guys, which avoids the average perception of super leading stocks.
I didn't expect it,Home appliance ETF is a typical one,Midea、Gree、Hisense is a few leaders,It's all a little guy,So there will be an impact。
After reading the little ones, let's take a look at the big guys of "Singing and Dancing Shengping".
In terms of average market capitalization, China General Internet, CSI A50, SSE 50, Hong Kong Stock Connect Dividend and CSI 100 are among the top five, and large finance, food and beverage, and central enterprises are ranked among the top overall. It should be noted here that the MSCI A50 is not included in the reference, mainly because the data is not accurate enough, and it is roughly similar to the CSI A50. Hang Seng and other A-shares are not included, otherwise there are too many. This year, the most fierce are banks and energy, which are high-dividend varieties, but the huddle has weakened recently, and it is not appropriate to over-bet now.
If ranked by median market capitalization, then the CSI A50 topped the list, followed by the SSE 50, CSI 100, Financials and Hong Kong Stock Connect Dividends. It can be seen here that chips, electronics, etc. are actually not small, and the market value of the current leading technology stocks is not low, and the market is considered an institutional market, so the catastrophe of small and micro enterprises has little impact on it.
In general, we have analyzed the characteristics of this year's market, that is, institutional funds are holding together to hedge against high dividend varieties in the case of a bad market, and in contrast to this, the superiors have the determination to clear the garbage and correct the trend of speculation, so strategically speaking, it is not a good cycle to invest in the "small" style. It is still necessary to wait for the clearing, to see when the superior will let go, or to come out of the super concept to stimulate the popularity of the capital, otherwise the short-term rebound is not easy to reverse the style pressure of small market capitalization varieties in the medium and long term, which is especially necessary to pay attention to.
Today, we have summarized the small and large ETFs as a reference.