BD Transaction Volume Exceeds $60 Billion in First Three Months; GF CSI Innovative Drugs Industry ETF (515120) Rises 1.63% in Early Trading, Targeting Third Consecutive Gain

NewTimeSpace News - As of 09:54 on March 31, 2026, the GF Securities Innovative Medicine ETF (515120) rose 1.63%, targeting its third consecutive gain, with its latest price reaching 0.62 yuan. Looking at a longer timeframe, as of March 30, 2026, the ETF has accumulated a gain of 8.87% over the past week. (The stocks listed above are solely index constituents and do not constitute specific investment recommendations.)

In terms of liquidity, the GF Securities Innovative Medicine ETF recorded an intraday turnover rate of 1.78% and a trading volume of 160 million yuan. Looking at a longer timeframe, as of March 30, the ETF's average daily trading volume reached 318 million yuan over the past week, ranking among the top 2 comparable funds.

Regarding fund size, the GF Securities Innovative Medicine ETF's latest AUM stands at 8.862 billion yuan, hitting a new high for the past month and ranking 2nd among 7 comparable funds. (Data source: Wind)

In terms of fund shares, the GF Securities Innovative Medicine ETF increased by 87 million shares over the past 2 weeks, achieving substantial growth and ranking 2nd among 7 comparable funds in terms of new share additions. (Data source: Wind)

For capital flows, the GF Securities Innovative Medicine ETF recorded a net inflow of 72.894 million yuan in the latest session. Looking at a longer timeframe, over the past 21 trading days, 12 days saw net inflows, with a total of 113 million yuan attracted, representing an average daily net inflow of 5.3576 million yuan. (Data source: Wind)

Data indicates continued positioning by leveraged funds. The GF Securities Innovative Medicine ETF recorded a net margin purchase of 5.2095 million yuan on the previous trading day, with its latest margin balance reaching 309 million yuan. (Data source: Wind)

As of March 30, the GF Securities Innovative Medicine ETF has gained 18.17% over the past 2 years. In terms of return capability, as of March 30, 2026, since its inception, the ETF has achieved a maximum monthly return of 23.00%, a maximum consecutive rising period of 5 months, a maximum consecutive gain of 32.68%, and an average monthly return of 5.63% during rising months. As of March 30, 2026, the GF Securities Innovative Medicine ETF has outperformed its benchmark by 2.85% in annualized returns over the past 6 months.

Regarding drawdown, as of March 30, 2026, the GF Securities Innovative Medicine ETF's relative benchmark drawdown this year was 0.10%, demonstrating relatively lower drawdown risk among comparable funds.

In terms of fee structure, the GF Securities Innovative Medicine ETF charges a management fee of 0.50% and a custody fee of 0.10%.

For tracking accuracy, as of March 30, 2026, the GF Securities Innovative Medicine ETF's tracking error over the past six months was 0.010%, achieving the highest tracking precision among comparable funds.

From a valuation perspective, the CSI Innovative Medicine Industry Index tracked by the ETF currently has a price-to-earnings ratio (PE-TTM) of only 43.88x, standing at the 5.73rd percentile over the past year, meaning the valuation is lower than 94.27% of the time during the past year, indicating a historically low level.

The GF Securities Innovative Medicine ETF closely tracks the CSI Innovative Medicine Industry Index, which selects up to 50 most representative listed companies from among those whose main business involves innovative drug research and development as index constituents to reflect the overall performance of innovative medicine industry listed companies.

On the news front, as of March 27, 2026, 10 innovative drugs have been approved this year, with 8 being domestic innovative drugs. In the first three months of this year, China's innovative drug business development (BD) transaction volume has exceeded $60 billion, approaching nearly half of the total $135.7 billion for the entire year of 2025.

Everbright Securities stated that as domestic and international macro and policy situations evolve, pharmaceutical investment logic is increasingly focused on the essence of clinical value. The innovative drug industry chain, possessing the capability to address core clinical needs of patients and physicians, is commanding higher premiums. The formal implementation of the long-term care insurance system will remove industry bottlenecks from the payment side, further strengthening the accessibility of innovative drugs in the real world and their foundation for sustainable volume growth.

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