NewTimeSpace News:As of 14:35 on March 2, 2026, the CSI SWS Non-ferrous Metals Index (000819) surged 3.63%. Its constituent stocks posted robust gains: Western Gold rose 10.01%, Yunnan Tin Industry Co., Ltd. climbed 10.01%, and Hunan Gold advanced 10.00%, with Chifeng Jilong Gold Mining Co., Ltd., Shandong Gold Mining Co., Ltd. and other stocks following the upward trend. TheChina Southern CSI SWS Non-Ferrous Metal ETF (512400) rose 3.61%, with the latest price at RMB 2.5. Over a longer horizon, as of February 27, 2026, the ETF had a cumulative increase of 9.90% in the past week. (The stocks listed above are only constituent stocks of the index and do not constitute any investment recommendation.)

In terms of liquidity, theChina Southern CSI SWS Non-Ferrous Metal ETF recorded an intraday turnover rate of 6.48% with a trading volume of RMB 2.646 billion. As of February 27, its average daily trading volume in the past month stood at RMB 2.678 billion.

In terms of scale, the latest scale of theChina Southern CSI SWS Non-Ferrous Metal ETF reached RMB 40.359 billion, a new high in the past month. (Data source: Wind)

In terms of capital flows, theChina Southern CSI SWS Non-Ferrous Metal ETF recorded a net capital outflow of RMB 41.6973 million recently. Looking at a longer timeframe, it has seen net capital inflows on 3 out of the past 4 trading days, attracting a total of RMB 225 million in capital with an average daily net inflow of RMB 56.1524 million. (Data source: Wind)

Data showed that leveraged funds have been continuously building positions in the ETF. The margin net purchase of theChina Southern CSI SWS Non-Ferrous Metal ETF in the previous trading day reached RMB 9.6002 million, with the latest margin balance standing at RMB 729 million. (Data source: Wind)

As of February 27, the net asset value of theChina Southern CSI SWS Non-Ferrous Metal ETF has risen 166.38% in the past two years, ranking 19th out of 2,563 index equity funds and placing it in the top 0.74%. In terms of profitability, as of February 27, 2026, since its inception, the ETF has achieved a maximum monthly return of 27.29%, a longest consecutive monthly gain streak of 6 months with a cumulative increase of 70.46% during the streak, and an average return of 8.49% in rising months. Its annual profit ratio stands at 62.50%, with a historical profit probability of 66.62% for a 3-year holding period. As of February 27, 2026, the ETF has delivered an annualized excess return of 2.87% over the benchmark in the past year.

As of February 27, 2026, the Sharpe ratio of theChina Southern CSI SWS Non-Ferrous Metal ETF in the past year was 3.21.

In terms of drawdown, as of February 27, 2026, theChina Southern CSI SWS Non-Ferrous Metal ETF has a relative benchmark drawdown of 0.17% year-to-date.

In terms of fees, theChina Southern CSI SWS Non-Ferrous Metal ETF has a management fee rate of 0.50% and a custodian fee rate of 0.10%.

In terms of tracking accuracy, as of February 27, 2026, the tracking error of theChina Southern CSI SWS Non-Ferrous Metal ETF in the past two months was 0.012%.

TheChina Southern CSI SWS Non-Ferrous Metal ETF closely tracks the CSI SWS Non-ferrous Metals Index. The index selects 50 securities of listed companies from the SWS non-ferrous metals and non-metallic materials sectors in the Shanghai and Shenzhen stock markets as its constituent samples, reflecting the overall performance of the securities of listed companies in the non-ferrous metals industry in the Shanghai and Shenzhen stock markets.

Data showed that as of February 27, 2026, the top 10 weight stocks of the CSI SWS Non-ferrous Metals Index (000819) were Zijin Mining Group Co., Ltd., China Molybdenum Co., Ltd., Northern Rare Earth (Group) High-Tech Co., Ltd., Zhejiang Huayou Cobalt Co., Ltd., Aluminum Corporation of China Limited, China National Gold Group Gold Co., Ltd., Shandong Gold Mining Co., Ltd., Ganfeng Lithium Co., Ltd., Industrial Bank Tin Co., Ltd. and Xiamen Tungsten Co., Ltd. The combined weight of the top 10 stocks accounted for 47.23% of the index. (The stocks listed above are only constituent stocks of the index and do not constitute any investment recommendation.)

Huafu Securities stated that after the Spring Festival holiday, external markets and macro factors have driven aluminum prices to fluctuate upward. For copper, following the Spring Festival holiday, the January FOMC meeting minutes signaled a dovish tilt, fueling growing expectations of interest rate cuts. Coupled with market expectations of a strong post-holiday resumption of production, optimistic forecasts for China's demand and the broad rally in U.S. stocks, copper prices have been boosted once again.

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