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A Closer Look at H1 2024 A-share ETF Market: Rise of Broad-based and High Dividend Yield ETFs

PRNewswire July 5, 2024

GUANGZHOU, China, July 5, 2024 /PRNewswire/ — In the first half of 2024, the A-share ETF market scaled a new record high and the market size surpassed US$292 billion, with broad-based ETFs as the main driving force. According to Wind, the assets of broad-based ETFs doubled from US$83 billion in mid-2021 to over US$171 billion, increasing their share from 41% to 59%. Meanwhile, 25 fund companies launched a total of 84 stock ETFs, an increase of 27 from the same period last year, with a combined initial offering size exceeding US$5.8 billion. Among them, E Fund, the largest fund manager in China, topped the market with ten new ETF launches[1] and over US$505k in fundraising.

Changes in AUMS of China's Equity ETFs (PRNewsfoto/E Fund Management)

A-share broad-based ETFs led the way with US$54.4 billion in net inflows, taking up more than 90% of the total net inflows. The top 10 ETFs were all broad-based, reflecting the performance of indexes such as the CSI 300, CSI 500, SSE 50, CSI 1000, ChiNext, and STAR 50. The E Fund CSI 300 ETF (Code: 510310) ranked first in terms of fund flows. Additionally, 23 broad-based ETFs have been launched, with CSI A50 ETF being the most favored. Ten ETFs tracking the CSI A50 index, including E Fund CSI A50 ETF (Code: 563080), gathered nearly US$2.3 billion, accounting for almost 40% of the new issuance this year.

On the other hand, high dividend yield ETFs attracted continuous inflows of approximately US$2.1 billion, backed by strong returns. The CSI Dividend Total Return Index and CSI Dividend Low Volatility Total Return Index delivered gains of 11% and 15% respectively. Riding on this momentum, fifteen high dividend yield ETFs were introduced in the first six months of this year, covering high dividend yield assets listed in A-share and Hong Kong stock markets. Notably, E Fund rolled out E Fund Hang Seng SCHK High Dividend Low Volatility ETF (Code: 159545) in March, which tracked the performance of companies listed in Hong Kong and included in Stock Connect, adding to the diversity of onshore investors’ portfolios.

Net Flows of China‘s Equity ETFs in H1 2024 (PRNewsfoto/E Fund Management)

About E Fund

Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with close to RMB 3.3 trillion[2] (US$ 454 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.


[1] Launch means the fund contract comes into effect.

[2] As at Jun 30, 2024. AuM includes subsidiaries. Source: PBoC, Wind.


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SOURCE E Fund Management

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