Institution: Gold is experiencing a powerful resurgence of its financial attributes,Maxwealth CSI Shanghai-Shenzhen-Hong Kong Gold Industry Commodity ETF(517520) gains nearly 4% in early trade

NewTimeSpace News, as of 10:14 on 23 January 2026, the Gold Equities ETF (517520) is up 3.72% at 2.65 yuan. Over the past week ended 22 January 2026 the fund has risen 8.59%, ranking third among six comparable funds. (The stocks cited are index constituents only and do not constitute any recommendation.)

Liquidity: intraday turnover is 1.81% with 319 million yuan traded; the average daily turnover over the past week is 692 million yuan, the highest in the peer group.

Size: the fund’s latest asset base is 16.944 billion yuan, a one-year high, ranking first among six comparable funds. (Source: Wind)

Shares: the latest unit count is 6.669 billion, a one-month high, also first among six peer funds. (Source: Wind)

Net inflows: the ETF has recorded five consecutive days of inflows, the largest single-day amount being 574 million yuan, totalling 1.436 billion yuan or an average 287 million yuan per day. (Source: Wind)

Margin: the latest margin purchase amount is 70.32 million yuan, bringing the outstanding margin balance to 197 million yuan. (Source: Wind)

Performance: net value has risen 121.53% over the past year, ranking first among comparable funds and fourth among 3,467 index stock funds (top 0.12%). Since inception the best monthly return is 21.81%, the longest winning streak is four consecutive months with a cumulative 40.27% gain, the up-/down-month ratio is 14/12, the average return in up months is 9.41%, the calendar-year win rate is 100% and the two-year holding-profit probability is also 100%. Annualised out-performance versus the benchmark over the past year is 2.59%, ranking first among six peer funds.

Risk metrics: one-year Sharpe ratio is 2.69 as of 16 January 2026; year-to-date maximum draw-down is 1.78% versus 0.06% for the benchmark, the smallest among comparable funds, with a one-day recovery period, the fastest in the peer group.

Fees: management fee 0.50%, custody fee 0.10%, both among the lowest in the category.

Tracking: year-to-date tracking error is 0.025%, the smallest among comparable funds. The ETF replicates the CSI Hong Kong-Shanghai-Shenzhen Gold Industry Equity Index, which selects 50 large-cap companies engaged in gold mining, smelting and sales across the mainland and Hong Kong markets to reflect the overall performance of the gold sector.

Dongguan Securities notes that gold is undergoing a forceful revival of its financial attributes: a weakening dollar, falling U.S. Treasury yields, resurfacing geopolitical risks and continued net buying by global central banks form the core supportive logic. In 2025 central banks added a net 297 tonnes of gold, while global gold ETFs attracted USD 89 billion of inflows, pushing holdings to a record 4,025 tonnes. By January 2026 gold accounts for 25.94% of global foreign-exchange reserves, and the de-dollarisation trend continues to strengthen gold’s monetary role.

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