"HALOPLUS" Boosts Cash Flow Strategy Going Viral! Cash Flow ETF Full Index (563390) Achieves Record Trading Volume

Recently, the rapid development of the AI industry has made HALO assets—those that are difficult to replace, with heavy assets and high barriers—become the main focus of capital allocation. CITIC Securities points out that under the background of liquidity disruptions and risk appetite pressure, it is advisable to adopt a “HALOPLUS” strategy—defensive HALO cash flow + offensive low-competition growth. On the defensive side, continue focusing on HALO trading, prioritizing sectors with high cash flow, heavy assets, high thresholds, and low correlation with TMT. On the offensive side, “PLUS” focuses on growth areas with still low trading heat and low interest rate sensitivity.

From an industry structure perspective, the constituent stocks of the CSI Cash Flow Index have higher weights in typical HALO assets such as Petrochemical (11.2%), Basic Chemicals (11.1%), and Non-ferrous Metals (10.0%), which are expected to benefit from the current valuation reassessment of real hard assets. Notably, the first cash flow ETF tracking the CSI Cash Flow Index, the CSI Cash Flow All-Share ETF (563390), saw a contrarian inflow of 213 million yuan last Friday, with trading volume significantly increasing to more than double the previous trading day, setting a new high since its inception.

Looking at the longer term, the CSI Cash Flow All-Share ETF (563390) has accumulated 2.43 billion yuan in net inflows since the beginning of the year, boosting fund units and scale to 2.302 billion shares and 3.324 billion yuan, respectively, both hitting new records.

Historically, the CSI Cash Flow Index tracked by the ETF has also demonstrated strong long-term performance. Wind data shows that since its inception, the CSI Cash Flow All-Return Index has gained 874.37%, with an annualized return of 21.17%, outperforming the 300 Cash Flow All-Return and 500 Cash Flow All-Return indices, which achieved 16.08% and 16.20%, respectively. With its long-term cyclical resilience, it is expected to become another key core holding in asset portfolios.

Looking ahead, external disturbances continue. Statements from Iran, the US, and others keep markets on edge, with risk appetite temporarily under pressure. In this context, value assets with solid fundamentals and ample free cash flow may better meet investors’ demand for “certainty.” Meanwhile, positive signals from companies are also emerging. 2025 earnings forecasts show a 37% positive surprise rate, surpassing 34% in 2024, with clearer evidence of earnings recovery, providing a more solid fundamental support for cash flow strategies.

The manager of the CSI Cash Flow ETF (563390), Huatai-PineBridge, is one of the first domestic ETF managers and among the earliest to deploy dividend strategy ETFs, with over 19 years of deep operational management experience in Smart Beta strategies. Besides the CSI Cash Flow All-Share ETF, it has also launched a series of “dividend family” ETFs, including the first dividend low-volatility themed ETF—Huatai-PineBridge Dividend Low Volatility ETF (512890), the first Smart Beta ETF—Huatai-PineBridge Dividend ETF (510880), the first Hong Kong Stock Connect dividend ETF investing in high-dividend Hong Kong stocks via QDII—Huatai-PineBridge Hong Kong Stock Connect Dividend ETF (513530), and the Hong Kong Stock Connect Dividend Low Volatility ETF (520890). As of March 13, 2026, the total scale of its dividend ETFs reached 52.642 billion yuan.

Daily Economic News