Spot gold tops USD 5,200/oz for first time, Maxwealth CSI Shanghai-Shenzhen-Hong Kong Gold Industry Commodity ETF (517520) surges almost 8% in early trade

NewTimeSpace News, as of 10:19 on 28 January 2026, the Gold Equities ETF (517520) has jumped 7.85% to 3.04 yuan. Over the past week ended 27 January 2026 the fund has rallied 15.09%. (The stocks cited are index constituents only and do not constitute any recommendation.)

Liquidity: intraday turnover is 3.77% with 765 million yuan traded; the average daily turnover over the past week is 1.089 billion yuan, ranking first among six comparable funds.

Size: the ETF's asset base stands at 19.463 billion yuan, a one-year high, ranking first among six comparable funds. (Source: Wind)

Shares: outstanding units have increased 385 million over the past week, the second-largest increase among six peer funds. (Source: Wind)

Flows: the latest session shows flat net flow, yet over the past five trading days the fund recorded four inflow days, accumulating 1.584 billion yuan or an average 317 million yuan per day. (Source: Wind)

Margin: the ETF has seen three straight days of net margin buying, the largest single-day amount being 101 million yuan, bringing the outstanding margin balance to 361 million yuan. (Source: Wind)

Performance: net value has risen 146.56% over the past year, ranking first among comparable funds and second among 3,491 index stock funds (top 0.06%). 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 2.58%, ranking first among six peer funds.

Risk metrics: one-year Sharpe ratio is 2.82 as of 23 January 2026; year-to-date maximum draw-down is 1.78% versus 0.13% 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 0.027%, the smallest among peer funds. The ETF replicates the CSI Hong Kong-Shanghai-Shenzhen Gold Industry Equity Index, which comprises 50 large-cap listed companies engaged in gold mining, smelting and sales across the mainland and Hong Kong markets.

Market news: on 28 January 2026 spot gold broke through USD 5,200/oz for the first time, adding more than USD 880 since the start of 2026. On 27 January US President Trump reiterated that interest rates will come down once his nominee takes the helm at the Federal Reserve and said he would announce his choice soon.

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