Chemical Industry New Capacity Enters Release Phase,Penghua CSI Subdivision Chemical Industry Theme ETF (159870) Surges Over 2% in Morning Trading

NewTimeSpace News – As of 10:23 on January 19, 2026, Chemical ETF (159870) rose 2.10%, with the latest price at RMB 0.88. Looking at a longer timeframe, as of January 16, 2026, the ETF has accumulated a 0.59% gain over the past week. (The stocks listed above are index constituents only and do not constitute specific investment recommendations.)

In terms of liquidity, Chemical ETF recorded an intraday turnover ratio of 2.93% with trading volume of RMB 649 million. Over a broader period, as of January 16, the ETF's average daily trading volume over the past week reached RMB 1.196 billion, ranking 1st among comparable funds.

Regarding scale, Chemical ETF's latest assets under management reached RMB 22.314 billion, marking a new high for the past year and ranking 1st among 6 comparable funds. (Data source: Wind)

In terms of shares, Chemical ETF's latest share count reached 25.935 billion units, a new high for the past three months and ranking 1st among 6 comparable funds. (Data source: Wind)

From a fund flow perspective, Chemical ETF has received continuous net capital inflows for 12 consecutive days, with a peak single-day net inflow of RMB 704 million, totaling RMB 4.867 billion in "capital attraction" with an average daily net inflow of RMB 406 million. (Data source: Wind)

Data shows leveraged funds continue to build positions. Chemical ETF's net purchases through margin financing this month reached RMB 14.0840 million, with the latest financing balance at RMB 432 million. (Data source: Wind)

As of January 16, Chemical ETF's NAV has increased 55.03% over the past two years. In terms of return capability, as of January 16, 2026, since its inception, the ETF's highest monthly return reached 21.63%, the longest consecutive gain period lasted 8 months with a total gain of 49.05%, and the average return during positive months was 6.19%. As of January 16, 2026, Chemical ETF's annualized excess return over benchmark since inception is 3.39%.

As of January 16, 2026, Chemical ETF's Sharpe ratio over the past year stands at 2.31.

Regarding drawdown, as of January 16, 2026, Chemical ETF's maximum year-to-date drawdown was 2.08%, with a relative benchmark drawdown of 0.03%. The recovery period after drawdown was 3 days, representing the fastest recovery among comparable funds.

In terms of fees, Chemical ETF's management fee rate is 0.50% and custody fee rate is 0.10%, placing it at a relatively low level among comparable funds.

In tracking accuracy, as of January 16, 2026, Chemical ETF's 1-month tracking error was 0.008%, representing the highest tracking precision among comparable funds.

Chemical ETF closely tracks the CSI Subdivision Chemical Industry Theme Index. The CSI Subdivision Industry Theme Index Series consists of 7 indices including subdivision non-ferrous metals and subdivision machinery, selecting listed securities with larger scale and better liquidity from relevant subdivisions as index constituents to reflect the overall performance of listed companies in relevant subdivisions.

Tianfeng Securities stated that the chemical industry's new capacity is entering a release phase, with supply-demand reversal expected in 2026. From an industry-wide perspective, the year-over-year growth rate of fixed asset completion entered negative territory in June 2025, slightly lagging listed company data. According to historical patterns, the chemical PPI typically turns positive with a lag of about 12 months. This round of PPI is gradually approaching a cyclical low. With "anti-involution" and "stabilizing growth" policy series boosting the economy out of the trough in 2026-2027, the probability of confirming the bottom of corporate profitability is relatively high.

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