NewTimeSpace News, as of 10:27 a.m. on 23 January 2026, the Defense & Aerospace ETF (512660) is up 1.90% at 1.56 yuan, aiming for a third consecutive daily gain. Over the past week ended 22 January 2026 the fund has risen 1.53%, ranking first among four comparable funds. (The stocks cited are index constituents only and do not constitute any recommendation.)

Liquidity: intraday turnover is 2.49% with 266 million yuan traded; the average daily turnover over the past month is 810 million yuan, the highest in the peer group.

Size: the ETF’s asset base has grown 697 million yuan over the past year, the second-largest increase among four comparable funds. (Source: Wind)

Margin: month-to-date net margin purchases are 3.98 million yuan, bringing the outstanding margin balance to 236 million yuan. (Source: Wind)

Performance: net value has risen 93.26% over the past two years. Since inception the best monthly return is 29.41%, the longest winning streak is four consecutive months with a cumulative 40.42% gain, and the average return in up months is 6.74%. Annualised out-performance versus the benchmark since inception is 1.50%.

Risk metrics: one-year Sharpe ratio is 1.83 as of 16 January 2026; year-to-date draw-down relative to the benchmark is 0.07%, among the lowest in the peer group.

Fees: management fee 0.50%, custody fee 0.10%, the lowest among comparable funds.

Tracking: two-year tracking error is 0.014%, the smallest among peer funds. The ETF replicates the CSI Defense Index, which comprises listed companies controlled by China’s top ten defence conglomerates plus other representative defence-related firms to reflect the overall performance of the domestic defence industry.

Galaxy Securities notes that the global race to build space-based networks has begun; with near-Earth orbit resources allocated on a “first-come, first-served” basis, the competition for orbital advantage is intensifying. Against this backdrop, China’s national satellite network and the “Qianfan” constellation are accelerating deployment, projected to expand the combined satellite manufacturing & launch market from 26.8 billion yuan in 2026 to 127.9 billion yuan in 2030, a five-year compound annual growth rate of 48.1%.

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