Brokerage ROE Expected to Return to Upward Channel in 2026, Yinhua CSI All Share Investment Banking & Brokerage Index ETF(159842) Up 0.51% in Morning Trading

NewTimeSpace News - As of 11:01 on January 9, 2026, Brokerage ETF (159842) rose 0.51%, with the latest price at 1.17 yuan. Over a longer timeframe, as of January 8, 2026, the ETF accumulated a 1.48% gain over the past week. (The stocks listed above are index constituents only and do not constitute specific recommendations.)

In terms of liquidity, Brokerage ETF recorded an intraday turnover rate of 3.1% and trading volume of 330 million yuan. Over a longer period, as of January 8, its average daily trading volume reached 805 million yuan over the past week, ranking among the top 3 comparable funds.

Scale-wise, Brokerage ETF's size grew 943 million yuan over the past two weeks, achieving significant growth and ranking 1st out of 14 comparable funds in new scale increase. (Data source: Wind)

In terms of shares outstanding, the ETF's share count grew 784 million units over the past two weeks, achieving significant growth and ranking 1st out of 14 comparable funds in new share increase. (Data source: Wind)

Regarding capital flows, Brokerage ETF posted a latest net capital inflow of 106 million yuan. Over a longer timeframe, it saw net inflows on 5 of the past 8 trading days, totaling 1.057 billion yuan in "capital absorption," with an average daily net inflow of 132 million yuan. (Data source: Wind)

Data shows leveraged funds continue to build positions. Brokerage ETF's previous day net margin purchase reached 21.9698 million yuan, with the latest margin balance at 249 million yuan. (Data source: Wind)

As of January 8, Brokerage ETF's NAV rose 14.62% over the past year. In terms of return capability, as of January 9, 2026, since its inception, the ETF's highest monthly return was 37.36%, longest consecutive up months was 4, longest consecutive gain was 28.29%, average return in up months was 7.44%, annual profitability percentage was 75.00%, and historical 3-year holding profitability probability was 61.59%. As of January 9, 2026, its excess return over benchmark since inception was 1.88% annualized.

On drawdowns, as of January 9, 2026, Brokerage ETF's year-to-date maximum drawdown was 4.10%, with a relative benchmark drawdown of 0.05%.

In terms of fees, Brokerage ETF charges a management fee of 0.15% and a custody fee of 0.05%, the lowest among comparable funds.

From a valuation perspective, the CSI All Share Securities Companies Index tracked by Brokerage ETF currently trades at a price-to-earnings ratio (PE-TTM) of just 17.59x, at the 14.11th percentile over the past year—meaning its valuation is lower than 85.89% of the time over the past year, placing it at a historical low.

Brokerage ETF closely tracks the CSI All Share Securities Companies Index. To reflect the overall performance of securities from different industries within the CSI All Share Index and provide investors with analytical tools, the CSI All Share Index constituents are classified by the CSI Industry Classification into 11 Level 1 industries, 35 Level 2 industries, over 90 Level 3 industries, and over 200 Level 4 industries. All securities entering each Level 1, 2, 3, and 4 industry are then used as samples to compile indices, forming the CSI All Share Industry Indices.

Founder Securities stated that the fundamentals of the brokerage sector continued to improve in 2025, with net profit in the first three quarters up 62% year-on-year and revenue from securities' main business up 44%, yet the sector's current valuation remains significantly undervalued. Looking ahead to 2026, brokerage ROE is expected to return to an upward channel, with margin balance and derivatives business expected to become the main direction for brokerages to increase leverage. Accelerated M&A among leading brokerages will likely drive up industry concentration.

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