China Merchants CSI Animal Husbandry ETF (516670) Rises 1.48% in Early Trading; Institutions: Hog Breeding Sector at Historically Low Relative Valuation

NewTimeSpace News - As of 10:00 on April 2, 2026, the China Merchants Animal Husbandry and Breeding ETF (516670) rose 1.48%, with its latest price reaching 0.69 yuan. Looking at a longer timeframe, as of April 1, 2026, the ETF has accumulated a gain of 7.83% 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 1.44% and a trading volume of 19.7608 million yuan. Looking at a longer timeframe, as of April 1, the ETF's average daily trading volume reached 41.6684 million yuan over the past week.

Regarding fund size, the China Merchants Animal Husbandry and Breeding ETF's latest AUM stands at 1.358 billion yuan, hitting a new high for the past month and ranking 2nd among 4 comparable funds. (Data source: Wind)

In terms of fund shares, the China Merchants Animal Husbandry and Breeding ETF's latest share count reached 2.016 billion shares, hitting a new high for the year to date and ranking 2nd among 4 comparable funds. (Data source: Wind)

For capital flows, the China Merchants Animal Husbandry and Breeding ETF has recorded continuous net inflows over the past 5 days, with a maximum single-day net inflow of 37.1935 million yuan, totaling 78.4179 million yuan attracted, representing an average daily net inflow of 15.6836 million yuan. (Data source: Wind)

Data indicates continued positioning by leveraged funds. The China Merchants Animal Husbandry and Breeding ETF recorded a net margin purchase of 1.6226 million yuan on the previous trading day, with its latest margin balance reaching 14.1855 million yuan. (Data source: Wind)

As of April 1, the China Merchants Animal Husbandry and Breeding ETF has gained 7.60% over the past year, ranking first among comparable funds. In terms of return capability, as of April 1, 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 April 1, 2026, the China Merchants Animal Husbandry and Breeding ETF has outperformed its benchmark by 3.20% in annualized returns over the past year, ranking 1st among 4 comparable funds.

Regarding drawdown, as of April 1, 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 April 1, 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 2.43x, lower than 84.44% of the time over the past year, 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.

Central China Securities stated that from a capacity perspective, both sow inventory and total hog inventory remain at relatively high levels, and sow capacity is expected to continue destocking going forward. Currently, the hog breeding sector remains at a historically low relative valuation. As capacity gradually destocks to reasonable levels under macroeconomic regulation, market supply-demand relationships are expected to further improve, with industry leaders benefiting first.

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