Institution: Bullish on the Window Period for Domestic Substitution,Tianhong CSI Electronic ETF(159997) Rises 0.96% Intraday

NewTimeSpace News,As of 13:40 on March 16, 2026, the Tianhong CSI Electronic ETF(159997) rose 0.96% to a latest price of 1.69 yuan, with an intraday turnover rate of 3.16% and a trading volume of 39.4492 million yuan, and its latest scale reached 1.26 billion yuan.

NewTimeSpace News:As of 13:40 on March 16, 2026, the CSI Electronics Index (930652) surged 1.01%. Its constituent stocks saw robust gains, with Biwin Storage up 13.25%, GigaDevice Semiconductor rising 10.00% and Yandong Microelectronics climbing 9.34%. Other constituent stocks including Ingenic Semiconductor and Dongshan Precision also followed the upward trend. The Tianhong CSI Electronic ETF(159997) advanced 0.96% to a latest price of 1.69 yuan. Over a longer time horizon, as of March 13, 2026, the Tianhong CSI Electronic ETFhad a cumulative increase of 6.78% in the past three months. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

In terms of liquidity, the Tianhong CSI Electronic ETFrecorded an intraday turnover rate of 3.16% with a trading volume of 39.4492 million yuan. On a longer-term basis, as of March 13, the ETF had an average daily trading volume of 55.3537 million yuan in the past month.

In terms of scale, the latest size of the Tianhong CSI Electronic ETFreached 1.26 billion yuan. (Data source: Wind)

Data showed that leveraged funds have continued to build positions in the ETF. The latest margin purchase volume of the Tianhong CSI Electronic ETFhit 3.8644 million yuan, with the latest margin balance standing at 15.2644 million yuan. (Data source: Wind)

As of March 13, the net value of the Tianhong CSI Electronic ETFhad surged 87.35% in the past two years, ranking 239th out of 2,599 index equity funds and placing it in the top 9.20%. In terms of profitability, as of March 13, 2026, since its inception, the ETF has achieved a maximum monthly return of 26.39%, a longest streak of consecutive monthly gains of 4 months with a cumulative increase of 65.50% during the period, a ratio of up months to down months of 40:32, an average monthly return of 6.52% in up months and an annual profitability rate of 80.00%. As of March 13, 2026, the ETF has an annualized excess return over the benchmark of 4.88% since its establishment.

As of March 13, 2026, the Tianhong CSI Electronic ETFhad a Sharpe Ratio of 1.31 over the past two years.

In terms of drawdown, as of March 13, 2026, the Tianhong CSI Electronic ETFhas a maximum drawdown of 8.46% year-to-date and a relative benchmark drawdown of 0.04%.

In terms of fees, the Tianhong CSI Electronic ETFhas a management fee rate of 0.50% and a custodian fee rate of 0.10%.

In terms of tracking accuracy, as of March 13, 2026, the ETF had a tracking error of 0.010% in the past month.

The Tianhong CSI Electronic ETFclosely tracks the CSI Electronics Index, which selects securities of listed companies engaged in businesses such as semiconductor manufacturing, computer and peripheral device production, as well as electronic and consumer electronics production as its sample stocks, aiming to reflect the overall performance of electronic-related listed companies.

Data showed that as of February 27, 2026, the top 10 weight stocks of the CSI Electronics Index (930652) were Luxshare Precision, Cambricon, Haiguang Information, SMIC, Foxconn Industrial Internet, NAURA Technology, GigaDevice Semiconductor, Montage Technology, Shenghong Technology and BOE A, accounting for a total of 35.62% of the index's weight. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

CHANGJIANG SECURITIES stated that the current global market is highly monopolized by overseas giants. Relying on four irreplicable advantages—sophisticated manufacturing processes, industrial scale effects, flexible qualification certification and cross-generation technological migration—Chinese consumer electronics companies are in the best window period for domestic substitution.

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