Institutions: Rising Certainty in Export Growth Drives Investment Opportunities, CSI OBOR ETF Wells Fargo (515150) Rises 1.90% Intraday

NewTimeSpace News: As of 13:26 on January 28, 2026, the CSI State-owned Enterprises the Belt and Road Index (000859) surged 1.66%. Among its constituent stocks, Sinopec Oilfield Service Corporation rose 10.11%, Shanghai Construction Group Co., Ltd. gained 10.03%, Aluminum Corporation of China Limited advanced 10.02%, and Yunnan Aluminum Co., Ltd., China Metallurgical Group Corporation and other stocks followed the upward trend. Wells Fargo CSI the Belt and Road ETF (515150) rose 1.90%, with the latest price at 1.66 yuan. Looking at a longer time frame, as of January 27, 2026, the fund had recorded a cumulative increase of 0.80% in the past week. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

In terms of liquidity, the intraday turnover rate of Wells Fargo CSI the Belt and Road ETF was 0.14% with a trading volume of 1.2311 million yuan. Extending the time horizon, as of January 27, the fund's average daily trading volume in the past year reached 4.1665 million yuan.

In terms of scale, Wells Fargo CSI the Belt and Road ETF saw its size grow by 10.3409 million yuan in the past week, a notable increase, with the newly added scale ranking among the top one-third of comparable funds. (Data source: Wind)

As of January 27, the net asset value (NAV) of Wells Fargo CSI the Belt and Road ETF had risen 30.14% in the past year, ranking first among comparable funds. In terms of profitability, as of January 27, 2026, since its inception, the fund had achieved a maximum monthly return of 17.01%, a longest consecutive rising period of 6 months with a cumulative gain of 19.05% during that streak, and an average monthly return of 4.68% in the profitable months. Its annual profitability rate stood at 66.67%, and the historical probability of making a profit with a two-year holding period reached 69.35%. As of January 27, 2026, the fund had an annualized excess return over the benchmark of 5.15% in the past six months, ranking among the top one-third of comparable funds.

As of January 23, 2026, the Sharpe ratio of Wells Fargo CSI the Belt and Road ETF in the past year was 2.09.

In terms of drawdown, as of January 27, 2026, the maximum drawdown of the fund since the beginning of the year was 1.70%, with a relative drawdown against the benchmark of 0.03%. It only took 4 days to recover from the drawdown, making it the fastest to rebound among comparable funds.

Regarding fees, the fund has a management fee rate of 0.15% and a custodian fee rate of 0.05%, the lowest among comparable funds.

In terms of tracking accuracy, as of January 27, 2026, the fund's tracking error in the past three years was 0.034%, the highest tracking accuracy among comparable funds.

From a valuation perspective, the latest price-to-earnings ratio (PE-TTM) of the CSI State-owned Enterprises the Belt and Road Index, which the fund closely tracks, is only 10.13 times, at the 14.86% quantile of the past three years. That is to say, the valuation is lower than more than 85.14% of the time in the past three years, standing at a historically low level.

Wells Fargo CSI the Belt and Road ETF closely tracks the CSI State-owned Enterprises the Belt and Road Index. The index comprehensively evaluates the market capitalization scale, the degree of participation in the Belt and Road business, earnings quality, shareholder returns and social responsibility of state-owned listed companies in the Shanghai and Shenzhen markets that participate in the construction of the Belt and Road Initiative, and selects 100 representative listed company securities as index samples to reflect the overall performance of state-owned listed company securities benefiting from the Belt and Road theme.

Data showed that as of December 31, 2025, the top 10 constituent stocks by weight in the CSI State-owned Enterprises the Belt and Road Index (000859) were China Commodity City Group Co., Ltd., Xinjiang Goldwind Science & Technology Co., Ltd., Aluminum Corporation of China Limited, FiberHome Telecommunication Technologies Co., Ltd., Shandong Dong'e Ejiao Co., Ltd., China Southern Network Energy Co., Ltd., Guangdong Hongda Blasting Co., Ltd., Yunnan Aluminum Co., Ltd., China Construction Bank Corporation and China United Network Communications Group Co., Ltd. The combined weight of these top 10 stocks accounted for 20.86% of the index. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

DFZQ stated that China's investment in the Belt and Road Initiative has become more proactive, and the certainty of growth in construction machinery exports is rising. In the past three months, the year-on-year growth rate of construction machinery exports has increased, reflecting the rising prosperity of the industry, while the market is worried about the sustainability of the growth of construction machinery in overseas markets. However, China has participated more actively in the investment and construction of Belt and Road projects in 2025, which is expected to enhance the certainty of equipment exports and bring investment opportunities.

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