Aerospace and Defense ETF Tianhong (159241) tracking index drops 2%, with a nearly 8% turnover rate—first among the same ETF, highlighting its low valuation and investment value.

On the market, both exchanges saw a rebound after hitting a bottom, while the aerospace concept declined. In terms of related ETFs, the Aerospace ETF Tianhong (159241) saw its underlying index drop by 2.04% during trading, with a subscription amount reaching 5 million shares; the transaction amount was 74.8133 million yuan; the turnover rate was 7.86%, ranking first among similar funds. Among the constituent stocks, Aerospace Development fell over 5%, with companies like Guanglian Aviation, Zhong无人机, and Changcheng Military Industry also experiencing declines.

The Aerospace ETF Tianhong (159241) has received a net capital inflow of 122 million yuan over the last 30 trading days. As of March 19, 2026, the latest scale of the fund is 965 million yuan.

The Aerospace ETF Tianhong (159241) closely tracks the National Securities Aerospace Index, which has increased by 29.16% over the past year. Its industry allocation mainly includes Aviation Equipment II (55.27%), Military Electronics II (20.32%), Aerospace Equipment II (12.88%), with the top five constituent stocks being Aero Engine Corporation, Guangqi Technology, Aerospace Electronics, China Satellite, and AVIC Shenyang Aircraft Corporation.

The current PE-TTM of the National Securities Aerospace Index is 133.07 times, at the 40.91% historical percentile, indicating that the valuation is below nearly 60% of historical periods. The current level offers a certain valuation cost-effectiveness, providing a relatively favorable window for medium to long-term positioning.

On the news front, ① According to a report from Caijing Breakfast, the 2026 government work report has for the first time listed aerospace as an “emerging pillar industry” and emphasized accelerating the development of satellite internet. ② Recently, good news has been frequent at the industrial level, with the Kuaizhou-11 rocket achieving a “one arrow, eight stars” launch, the Yaogan-50-02 satellite successfully entering orbit, and the Shenzhou-21 crew completing their second extravehicular activity. ③ Meanwhile, the 2026 Second Commercial Space Industry Development Conference is being held in Shenzhen, where the Shanghai Academy of Space Technology showcased cutting-edge products like the rollable flexible solar wing. Additionally, expectations for SpaceX’s IPO continue to rise, injecting attention into the global commercial aerospace industry.

Daily Economic News