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由深交所联合华夏基金公司共同推出的中小板 ETF 已于近期发行上市。这是自上证50ETF、深100ETF、上证180ETF 之后发行的第四只 ETF 产品。中小企业板发行的主要是中小盘股,全球股市的历史数据一致表明,中小盘股的波动率超过大盘股,这意味着在相同的期间内,投资中小盘股有可能获得超额利润。以2005年6月7日至2006年5月9日这段期间来统计,我们可以看到中小企业板指数的优势非常明显,不仅超过同期所有其它指数的涨幅,更优于所有已发行的股票基金涨幅。因此,对于投资指数基金或ETF 的投资者来说,中小板 ETF 优势更大,值得投资者重点关注。但是高收益通常伴随着高风险,投资中小板 ETF 之前仍需谨慎分析。我们首先要认清中小盘股的波动特征,中小盘股对应的一般是中小企业,由于中
The small-cap ETF, jointly launched by the Shenzhen Stock Exchange and Huaxia Fund Company, has been listed recently. This is the fourth ETF product released since SSE 50ETF, Shen 100ETF and SSE 180ETF. SME board issuance is mainly small cap stocks, the historical data of global stock markets unanimously show that the small cap stocks volatility than large cap stocks, which means that in the same period, the investment in small cap stocks may be excess profits. Taking statistics from June 7, 2005 to May 9, 2006, we can see that the advantage of the SME board index is obvious. It not only surpassed the gains of all other indices in the same period but outperformed all the outstanding shares Fund gains. Therefore, for investment index funds or ETF investors, small plates ETF greater advantages, it is worth investors focus. However, high returns are often accompanied by high risk and caution is still needed before investing in ETFs. We must first recognize the fluctuation characteristics of small cap stocks, small cap stocks corresponding to the general is small and medium enterprises, due to