China Merchants CSI Animal Husbandry ETF(516670) Rises 0.89% in Early Trading; Institutions: Prolonged Low Prices in Hog Industry May Further Facilitate Market-Driven Capacity Reduction

NewTimeSpace News - As of 09:39 on March 27, 2026, the China Merchants Animal Husbandry and Breeding ETF (516670) rose 0.89%, with its latest price reaching 0.68 yuan. Looking at a longer timeframe, as of March 26, 2026, the ETF has accumulated a gain of 5.50% over the past year, ranking 1st among 4 comparable funds. (The stocks listed above are solely index constituents and do not constitute specific investment recommendations.)

In terms of liquidity, the China Merchants Animal Husbandry and Breeding ETF recorded an intraday turnover rate of 0.55% and a trading volume of 7.1148 million yuan. Looking at a longer timeframe, as of March 26, the ETF's average daily trading volume reached 39.7684 million yuan over the past month.

Regarding fund size, the China Merchants Animal Husbandry and Breeding ETF has grown by 33.1052 million yuan over the past month, representing a significant increase and ranking 2nd among 4 comparable funds in terms of new asset inflows. (Data source: Wind)

In terms of fund shares, the China Merchants Animal Husbandry and Breeding ETF's latest share count reached 1.925 billion shares, hitting a new high for the past month and ranking 2nd among 4 comparable funds. (Data source: Wind)

For capital flows, the China Merchants Animal Husbandry and Breeding ETF recorded a net inflow of 16.8632 million yuan in the latest session. Looking at a longer timeframe, over the past 5 trading days, 4 days saw net inflows, with a total of 51.4536 million yuan attracted, representing an average daily net inflow of 10.2907 million yuan. (Data source: Wind)

As of March 26, the China Merchants Animal Husbandry and Breeding ETF has gained 5.48% over the past year, ranking first among comparable funds. In terms of return capability, as of March 26, 2026, since its inception, the ETF has achieved a maximum monthly return of 17.82%, a maximum consecutive rising period of 4 months, a maximum consecutive gain of 18.92%, and an average monthly return of 4.66% during rising months. As of March 26, 2026, the China Merchants Animal Husbandry and Breeding ETF has outperformed its benchmark by 3.18% in annualized returns over the past year, ranking 1st among 4 comparable funds.

Regarding drawdown, as of March 26, 2026, the China Merchants Animal Husbandry and Breeding ETF's relative benchmark drawdown this year was 0.09%, representing the smallest drawdown among comparable funds.

In terms of fee structure, the China Merchants Animal Husbandry and Breeding ETF charges a management fee of 0.20% and a custody fee of 0.10%, representing the lowest fee level among comparable funds.

For tracking accuracy, as of March 26, 2026, the China Merchants Animal Husbandry and Breeding ETF's tracking error over the past 3 years was 0.047%, achieving relatively high tracking precision among comparable funds.

Notably, the CSI Animal Husbandry and Breeding Index tracked by the fund is trading at historically low valuations, with a latest price-to-book ratio (PB) of 2.47x, lower than 81.14% of the time over the past 3 years, indicating outstanding valuation attractiveness.

The China Merchants Animal Husbandry and Breeding ETF closely tracks the CSI Animal Husbandry and Breeding Index, which selects listed companies engaged in livestock and poultry feed, livestock and poultry pharmaceuticals, and livestock and poultry breeding as samples to reflect the overall performance of animal husbandry and breeding related listed companies.

Shanxi Securities stated that as the industry-wide task of reducing debt and repairing balance sheets remains incomplete, if industry prices continue to remain depressed, it may further facilitate market-driven capacity reduction. Under the guidance of the "anti-internal competition" policy in the hog industry, capacity reduction through policy regulation is also advancing simultaneously. Additionally, the slope of the sow productivity efficiency curve represented by PSY may temporarily moderate. This year may see the third significant capacity reduction since 2021, and the hog breeding industry's fundamentals and valuations are expected to be repaired.

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