#股票分红的意义在哪里? #
A few days ago, the Shanghai Stock Exchange released the "ETF Industry Development Report", and I downloaded the full text as soon as possible~~
In fact, as long as you are concerned about ETFs, you should know that this year is the "20th anniversary" of the establishment of the ETF market of the Shanghai Stock Exchange and the ETF market in China, so the Shanghai Stock Exchange released this report at this time, which I personally think is more meaningful.
In this report, not only ETFs in China, but also a comprehensive and intuitive display of the current status and development trend of the global ETF market.
I have read this report in its entirety, and I have compiled some information that I think is knowledge points, and I will share it with you today.
(1) The scale of global ETFs has reached a new high, and equity ETFs are still the protagonists!
When it comes to the development of ETFs, we have been emphasizing that in the past 20 years, ETFs in China have developed rapidly, but in fact, not only China's ETFs, but also the development of global ETFs seems to have entered the fast lane~~
Overall, as of the first half of this year, the total size of ETF assets listed and traded worldwide reached $13.17 trillion, an increase of 13.44% compared with the end of last year. In the past 20 years, the average annual compound growth rate of the scale has exceeded 20%, and the number of products has maintained positive growth for 20 consecutive years.
Trends in the size and volume of global ETFs
Geographically, the United States ETF market size exceeds 9 trillion US dollars, accounting for nearly 70%; The European ETF market is nearly $2 trillion, accounting for about 15%; The Asia-Pacific ETF market is over US$1 trillion, accounting for nearly 10%. (So, don't look at the rapid development of Chinese ETFs, but there is still a big gap between United States and Europe)
In terms of type, equity ETFs are the undisputed protagonists! In the first half of this year, the total size reached 9.98 trillion US dollars, accounting for 75.8% of the total size of global ETFs. Compared with the end of 2023, the size of equity ETFs has increased by 15.8%, and these two sets of figures can tell some questions.
Proportion of global ETF types in the first half of 2024
Our ETFs still have a long way to go compared to the United States and Europe, but the potential is limitless, and in recent years, our ETFs have received more and more attention, which I think is a good start, and it makes me very excited about whether our ETFs can surpass or approach Europe in the next 20 years.
(2) There is still a lot of room for the development of equity ETFs in the mainland!
In this report, there is a set of data that I think is very interesting, and it is the proportion of equity ETFs in the total market capitalization of stocks.
The reason why this data is displayed, in the words of the report, is: this can reflect the development and development space of ETFs.
Equity ETFs in each market as a proportion of the market capitalization of stocks
From the above data, we can see that the proportion of equity ETFs in the mainland is only 2.2% of the stock market value, which is very low. Equity ETFs in the United States already account for more than 10% of equity market capitalization, and Japan has 7.7%.
The development of ETFs in mainland China has experienced an explosive 20 years, but this is far from enough, especially the proportion of equity ETFs in the market value of mainland stocks is still very low, which means that there is a lot of room for growth. Aside from benchmarking against United States, I think we should at least keep up with the entire Asia-Pacific region, and then talk about catching up with Japan.
(3) In the first half of the year, the global ETFs attracted the top 20 gold, and 4 domestic ETFs were on the list!
Those who are familiar with Lao K know that I have said more than once in previous articles that our ETF has a strong ability to absorb gold, but this time when I saw the ability of global ETFs to absorb gold, I realized that I was still too young~~
In this report, I saw the top 20 ETFs that flowed into the first half of this year, including 16 equity ETFs, 2 bond ETFs, and the remaining 2 were Bitcoin ETFs.
In the first half of 2024, global ETF funds will flow into the top 20
It is worth mentioning that these 16 equity ETFs are all broad-based ETFs, which is also in line with the role and characteristics of broad-based ETFs as a "reservoir", especially in the A-share market, which is infinitely magnified.
And there is no surprise, we have 4 broad-based ETFs on the list, and these 4 broad-based ETFs are all CSI 300 ETFs, respectively from E Fund, Huatai Pinebridge Fund, Harvest Fund and China AMC Fund.
Those who are familiar with broad-based ETFs know that these four ETFs have been among the best ETFs in China in recent years, both in terms of turnover and gold absorption, so it is not surprising that they are on the list.
It is not difficult to see that in fact, the global ETF gold absorption capacity is similar to our ETF gold absorption capacity in China. The S&P 500 for U.S. stocks and the CSI 300 for A-shares are arguably the most representative indices in the two markets.
(4) The Shanghai Stock Exchange should write "five articles" on ETF development!
As I said at the beginning of the article, this year is not only the 20th year of ETF development, but also the 20th year of SSE ETF. Therefore, standing at the starting point of the new 20 years, the Shanghai Stock Exchange also said in this report that it would "write five articles on ETF development"!
1. Make a better and stronger broad-based ETF. (As of the first half of this year, the size of all broad-based ETFs on the Shanghai Stock Exchange accounted for 70% of the scale of stock ETFs in Shanghai, and a number of giant broad-based ETFs with a scale of 100 billion yuan were born)
2. Enrich science and technology ETF products. (This year coincides with the fifth anniversary of the opening of the STAR Market, and the types of ETFs related to the STAR Market are becoming more and more abundant, and the scale is also growing steadily)
3. Improve the product layout of central enterprise ETFs. (In the past two years, central state-owned enterprises have become the main line of investment, as the ballast stone of the A-share market, in the future, the Shanghai Stock Exchange will continue to focus on the three characteristics of "central state-owned enterprises, high dividends, and Hong Kong Stock Connect" to create more high-quality products)
4. Enrich products with low risk and stable returns. (With the volatility of the A-share market, more and more investors want to look for low-risk, stable return ETF varieties, among which dividend strategy ETFs and bond ETFs are especially favored by investors, and the Shanghai Stock Exchange will continue to upgrade and build these two types of products)
5. Develop green-themed ETF products. (At present, accelerating green transformation is a major trend in the world, and the Shanghai Stock Exchange will naturally respond to the call to upgrade and build products for new energy, photovoltaic and other industries, as well as carbon neutrality, ESG and other themes)
I believe you all know the importance of the Shanghai Stock Exchange in the development of ETFs in China, and in the past 20 years, the Shanghai Stock Exchange has given us a perfect score. In the next 20 years, I have reason to believe that the Shanghai Stock Exchange will continue to break the ice and draw a wonderful blueprint for the development of Chinese ETFs.