GF CSI Innovative Drugs Industry ETF (515120) Rises 3.42% in Early Trading; Institutions: Leading Pharmaceutical Companies Have Successfully Navigated Centralized Procurement Cycle, Entering Innovation Harvest Period

NewTimeSpace News - As of 10:16 on April 1, 2026, the GF Securities Innovative Medicine ETF (515120) rose 3.42%, with its latest price reaching 0.64 yuan. Looking at a longer timeframe, as of March 31, 2026, the ETF has accumulated a gain of 5.86% 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 2.9% and a trading volume of 264 million yuan. Looking at a longer timeframe, as of March 31, the ETF's average daily trading volume reached 342 million yuan over the past week, ranking among the top 2 comparable funds.

Regarding fund size, the GF Securities Innovative Medicine ETF has grown by 355 million yuan over the past week, representing a significant increase and ranking 2nd among 7 comparable funds in terms of new asset inflows. (Data source: Wind)

In terms of fund shares, the GF Securities Innovative Medicine ETF increased by 111 million shares over the past month, 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 outflow of 44.6894 million yuan in the latest session. Looking at a longer timeframe, over the past 22 trading days, 12 days saw net inflows, with a total of 67.8199 million yuan attracted, representing an average daily net inflow of 3.0827 million yuan. (Data source: Wind)

Data indicates continued positioning by leveraged funds. The GF Securities Innovative Medicine ETF recorded a margin purchase of 35.356 million yuan in the latest session, with its latest margin balance reaching 307 million yuan. (Data source: Wind)

As of March 31, the GF Securities Innovative Medicine ETF has gained 18.31% over the past 2 years. In terms of return capability, as of March 31, 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 31, 2026, the GF Securities Innovative Medicine ETF has outperformed its benchmark by 0.85% in annualized returns over the past 2 years.

Regarding drawdown, as of March 31, 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 31, 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 41.78x, standing at the 0.76th percentile over the past year, meaning the valuation is lower than 99.24% 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.

Xiangcai Securities stated that leading pharmaceutical companies have recently disclosed their 2025 annual reports. Based on currently disclosed reports, the most significant characteristic of leading pharmaceutical companies in 2025 is that innovative drug revenue share has broken through the 50% critical point, becoming the absolute main driver of performance growth. This indicates that these companies have successfully navigated the centralized procurement cycle and entered the innovation harvest period. The firm recommends focusing on pharmaceutical companies' "R&D investment conversion efficiency."

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