Institution: Monetary Policy Boosts Sector, Bank ETF (159887) Rises 0.86% Intraday

NewTimespace News: As of 15:00 on January 20, 2026, the CSI 800 Bank Index (H30022) rose 0.75%. Its constituent stocks included Chengdu Bank (up 3.10%), Changsha Bank (up 2.41%), Changshu Bank (up 2.40%), Qilu Bank (up 2.05%), and Chongqing Rural Commercial Bank (up 1.95%). The Bank ETF (159887) rose 0.86% to RMB1.29. Over a longer period, as of January 19, 2026, the ETF had gained 6.32% cumulatively over the past year. (The stocks listed above are only index constituents and do not constitute specific recommendations.)

In terms of liquidity, the intraday turnover rate of the Bank ETF was 14.96% with a trading volume of RMB212 million, indicating active market participation. Over a longer period, as of January 19, the average daily trading volume of the ETF in the past week was RMB185 million.

In terms of scale, the latest size of the Bank ETF reached RMB1.406 billion. (Data source: Wind)

In terms of shares, the latest share count of the Bank ETF hit 1.102 billion, a new high in nearly one month. (Data source: Wind)

In terms of capital inflows, the latest net capital inflow of the Bank ETF was RMB15.7434 million. Over a longer period, there were net capital inflows on 3 out of the past five trading days, with a total "capital absorption" of RMB66.3075 million and an average daily net inflow of RMB13.2615 million. (Data source: Wind)

Data shows that leveraged funds continue to deploy. The net financing purchase amount of the Bank ETF since the beginning of this month has reached RMB1.1974 million, and the latest financing balance was RMB52.2493 million. (Data source: Wind)

As of January 19, the net value of the Bank ETF had risen 46.15% over the past two years. In terms of profitability, as of January 19, 2026, since its establishment, the ETF has achieved a maximum monthly return of 13.20%, the longest consecutive monthly gain period of 3 months with a cumulative increase of 17.69%, an average monthly return of 4.17% in rising months, and a 97.10% profit probability for a 3-year holding period. As of January 19, 2026, the ETF's annualized excess return over the benchmark in the past two years was 5.37%.

As of January 16, 2026, the Sharpe ratio of the Bank ETF over the past two years was 1.20.

In terms of drawdown, as of January 19, 2026, the ETF's maximum drawdown since the beginning of the year was 5.15%, with a relative benchmark drawdown of 0.01%.

In terms of fees, the ETF's management fee rate is 0.50% and the custodian fee rate is 0.10%.

In terms of tracking accuracy, as of January 19, 2026, the ETF's tracking error over the past six months was 0.049%.

The Bank ETF closely tracks the CSI 800 Bank Index. To reflect the overall performance of listed company securities in different industries within the CSI 800 Index sample and provide analysis tools for investors, the CSI 800 Index sample is classified into 11 primary industries and 35 secondary industries based on the CSI Industry Classification. Indices are then compiled using all securities in each primary and secondary industry as samples, forming the CSI 800 Industry Indices.

Data shows that as of December 31, 2025, the top 10 constituent stocks by weight of the CSI 800 Bank Index (H30022) were China Merchants Bank, Industrial Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, Shanghai Pudong Development Bank, Bank of Jiangsu, Ping An Bank, Bank of Shanghai, and Minsheng Bank, accounting for a total of 67.71% of the index weight. (The stocks listed above are only index constituents and do not constitute specific recommendations.)

Donghai Securities stated that the People's Bank of China (PBC) released financial data for December 2025. At the end of December, the stock of social financing scale increased by 8.3% year-on-year, RMB loans under the social financing framework rose by 6.3% year-on-year, and RMB loans under the financial institution framework increased by 6.4% year-on-year. M2 and M1 grew by 8.5% and 3.8% year-on-year respectively. In addition, the PBC decided to take two policy measures first: on the one hand, reduce the interest rates of various structural monetary policy tools by 25 basis points (bps); on the other hand, improve structural tools and increase support.

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