On October 15th, the first batch of China Securities A500 ETFs was officially listed on the Shanghai and Shenzhen stock exchanges. These ETFs were approved the day after submission and all exceeded their fundraising targets upon collective sale, raising a combined total of over 20 billion yuan from their initial offering—since their "birth," these China Securities A500 ETFs have garnered significant market attention. However, judging from their "debut" performance, they were not immune to the market's volatile decline.

Wind data indicates that on October 15th, the Shanghai Composite Index fell by 2.53%, barely holding above 3,200 points; the China Securities A500 Index also fluctuated and weakened, dropping by 2.47% throughout the day. Consequently, all 10 China Securities A500 ETFs "suffered a complete defeat," with an average decline of 2.35%.

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Among them, the ETF with the smallest decline was the Huatai-Pine A500 ETF, with a drop of -1.98%, which was also the only product with a single-day decline of less than 2%. The declines for the Fullgoal A500 ETF, China Merchants A500 ETF, and Southern A500 ETF all exceeded 2.6%.

Although their performance has been somewhat disappointing, the trading of the aforementioned products has been very active. Wind data shows that as of the close, the cumulative trading volume of the 10 China Securities A500 ETFs reached 10.887 billion yuan, with an average turnover rate of 56.33%. Among the top ten stock ETFs by turnover rate that day, the China Securities A500 ETFs occupied five positions.

Specifically, the Guotai Junan A500 ETF had a trading volume of 3.153 billion yuan, with a turnover rate reaching 166.49%, both the highest among similar products. The Southern A500 ETF and Huatai-Pine A500 ETF also both exceeded one billion yuan in transaction volume on the same day, at 1.644 billion yuan and 1.167 billion yuan respectively, with both having turnover rates above 58%.

Additionally, the turnover rates for the Morgan A500 ETF and Yinhua A500 ETF also exceeded 40%. The turnover rates for products under China Merchants Fund, JingShun Great Wall Fund, Harvest Fund, and Fullgoal Fund ranged between 30% and 40%, with the lowest being the Taikang A500 ETF at a turnover rate of 17.13%.

Yicai First Financial observed that before the listing of the China Securities A500 ETFs, to promote the market liquidity and stable operation of the products, half of the companies, including Southern Fund, Harvest Fund, Guotai Junan Fund, Yinhua Fund, and JingShun Great Wall Fund, announced the addition of new liquidity providers. For instance, Southern Fund added ten securities firms such as CITIC Construction Investment, Founder Securities, and GF Securities on the 15th.

"Assets only generate value when they are in motion; liquidity is crucial for ETFs," a person from a medium to large fund company said in a conversation with Yicai First Financial. Market makers continuously providing buy and sell quotes for ETFs can improve the liquidity of ETF products, enhance investors' trading experience, and increase the overall competitiveness of ETF products.

In terms of capital inflow, taking the five products listed on the Shanghai Stock Exchange as an example, the single-day "fund absorption" has approached ten billion yuan, at 9.696 billion yuan. For instance, the Huatai-Pine A500 ETF saw a single-day net inflow of 2.001 billion yuan, while the Fullgoal A500 ETF and Morgan A500 ETF had net inflows of 1.962 billion yuan and 1.953 billion yuan respectively. The China Merchants A500 ETF and Taikang A500 ETF also had capital inflows of nearly 1.9 billion yuan each.It is worth noting that some fund companies have announced that they will purchase their own products. From October 14th to 15th, China Merchants Fund and Southern Fund announced that they will use their own funds of 50 million yuan to invest in their own CSI A500 ETF in the near future, and promise to hold it for at least one year. Before that, Harvest Fund and Jing Shun Great Wall Fund also purchased 200 million shares and 16.377 million shares of their own products, respectively.

Recently, the A-share market has gone from a sudden rise to a volatile adjustment. Data shows that the Shanghai Composite Index has risen from a low of 2689.7 points to a high of 3674.4 points, and then fell to 3201.29 points. In just 15 trading days, it fluctuated by nearly 1000 points (984.7 points). However, even if there is a pullback at the high point, the market still expects the subsequent trend.

"Unlike the previous general rise in the index volume, the market is gradually returning to a structural market," a research and investment person in Shanghai told First Financial. In his view, this pullback is short-term and healthy, and does not represent the end of the trend. The transaction volume of the two cities remains high and is in a period of continuous policy support. It is expected that the market is still in a positive and active window.