Core assets selected for the bottom position in a volatile market! The A500 ETF Huatai-PineBridge (563360) helps to low-costly position leading companies across various industries.

Yesterday, the US-Iran negotiation process encountered obstacles again, with the Iranian side indicating no willingness for direct dialogue. The geopolitical conflict may enter a dangerous third phase of “fighting while talking.” As a result, market sentiment has contracted, leading to a pullback in A-shares. Against the backdrop of unclear external disturbances and intensified market volatility, the allocation value of core assets with relatively solid fundamentals is expected to further increase, attracting attention to the CSI A500 Index, which covers leading companies across various A-share sectors. Among them, the A500 ETF from Huatai-PbR (563360), currently the largest in its category, attracted capital yesterday despite the market downturn, boosting its scale to 38.287 billion yuan, making it the only ETF in its category with a scale exceeding 37 billion yuan, showing significant scale and liquidity advantages.

Huatai Securities points out that in the short term, the risk chain of “high oil prices → global stagflation → tightening liquidity” may still need attention, and tail risks should not be overlooked. However, from a medium-term perspective, this logic has significant variables: China has a low inflation base, and its monetary policy still has room for interest rate cuts and reserve requirement ratio reductions. In terms of liquidity, sentiment indicators are close to panic thresholds but have not yet broken through, and the funding support from insurance funds increasing allocations and the trend of deposits moving may still exist. It is expected that the market may continue to experience low-level fluctuations in the short term, but confidence in an upward trend in the medium term is maintained, with high dividend defensive and prosperity investments preferred over thematic ones.

After previous fluctuations and adjustments, the advantages of the CSI A500 Index may be gradually becoming evident from the perspectives of valuation and dividends. As of March 26, 2026, the dividend yield of the index compared to the yield of 10-year government bonds has exceeded 92.94% of historical time; at the same time, the index’s price-to-book ratio has fallen to 1.67 times, sitting at a relatively low level of 37.10% since the base date, which may provide a good valuation basis for medium- to long-term layouts.

It is worth mentioning that the A500 ETF from Huatai-PbR (563360) and its feeder fund are also low-fee choices that help on-site and off-site investors allocate core assets. The annual management fee rate and annual custody fee rate of the product are 0.15% and 0.05%, respectively, both adopting the lowest fee structure currently available in the A-share market for equity index funds.

The latest regular fund report shows that as of the end of 2025, the A500 ETF from Huatai-PbR (563360) has cumulatively earned 4.642 billion yuan in fund profits for its holders, making it the only product in the entire market tracking the CSI A500 Index with cumulative profits exceeding 4.5 billion yuan.

According to a notice from Huatai-PbR Fund, starting from March 18, 2026, all ETF products under the company have completed standardized naming, and the “ETF Huatai-PbR” brand matrix has been fully established, facilitating investors in quickly identifying its featured products. As one of the first ETF managers in China, Huatai-PbR has been deeply engaged in the index investment field for nearly 20 years and has won the “Passive Investment Golden Bull Fund Company” award eight times.

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Editor: Shi Xiuzhen SF183