CSI A500, still choose the one with the most holders.

With the full disclosure of fund annual reports for 2025, the China Securities Index A500 ETF that has drawn significant market attention has also delivered its latest “performance report.”

As of December 31, 2025, Caitong China Securities Index A500 ETF (159338) had 99,101 unit holders, ranking first among the 32 China Securities Index A500 ETFs in the entire market, at more than twice the number of the second place, making it the preferred product for many investors looking to invest in the China Securities Index A500.

When selecting an ETF in daily life, many investors typically get stuck on dimensions such as size and fees, yet often overlook “the number of unit holders,” which is a key metric. In fact, the number of unit holders can directly reflect a product’s market recognition, and it also better matches the actual investment needs of ordinary investors.

When choosing an ETF, why should you look at the “number of unit holders”?

2. 1**． **Broad investor verification, high product recognition

If an ETF is only held in large amounts by a small number of institutions, in essence it is more like an “institutional customized tool”; while a large number of unit holders means both institutional and individual investors are allocating to the product. The tracking accuracy, trading experience, and liquidity performance have all been tested for a long time by market participants nationwide, and truly represent a standardized tool suitable for the public.

3. 2**． **Diversified unit-holder structure, more robust operation

Products with fewer unit holders are more susceptible to large subscription/redemption flows from a small number of institutions, leading to higher volatility risk; when there are more unit holders, the sources of funds are more diverse and dispersed. They will not cause severe fluctuations due to inflows/outflows from a single source, the net value trend is smoother, less likely to be manipulated by funds, and the holding experience is more reassuring.

4. 3**． **Stronger market consensus, more efficient pricing

The more diverse the types of investors participating, the more fully the market pricing reflects it. The product’s premium/discount level is more reasonable, effectively avoiding price deviations caused by dominance by a single pool of funds. This results in smaller tracking error and more transparent investing.

5. 4**． **Better trading liquidity, smoother buying and selling

The more unit holders there are, the higher the market trading activity. The bid-ask spread is narrower, and large orders can also be executed smoothly, providing solid assurance for day-to-day trading.

In simple terms, a higher number of ETF unit holders not only indicates that the product is more stable, transparent, and easier to trade, but it also represents a trust vote cast with real money by the market.

Why do many unit holders choose Caitong China Securities Index A500 ETF?

Caitong China Securities Index A500 ETF has earned the trust and choice of nearly 100,000 investors. This is not accidental. This market recognition is inseparable from the outstanding allocation value of the China Securities Index A500 Index itself. It truly enables ordinary investors to understand, hold, and use with peace of mind.

First, industry coverage is comprehensive and balanced.

The China Securities Index A500 Index achieves full coverage of second-level industries in the China Securities Index, and basic coverage of third-level industries. The industry mix is balanced without偏科, and it can better reflect the overall performance of securities from the most representative listed companies across industries.

Second, growth characteristics are prominent.

Based on the CSI 300 Index, the China Securities Index A500 Index reduces weights by about 10% in non-bank financials, banking, and food and beverage, and then distributes those weights evenly to emerging industries. This makes the index’s new-quality productive forces characteristics more distinctive and more growth-oriented. (Data source: CSI Index Company, Wind, Shenwan Level-1 Industries, as of March 30, 2026. Industry weight proportions change dynamically; for reference only)

Third, leaders are concentrated, with strong quality.

As a core broad-based index covering the entire market, the China Securities Index A500 Index selects 500 securities with larger market caps and better liquidity across industries as index constituents. In the selection process, it also excludes listed companies whose CSI ESG evaluation results are C or below. Within each CSI third-level industry, if the top two companies by market cap as of September 30, 2025 are defined as “industry leaders,” then the China Securities Index A500 Index covers 97% of the leaders of CSI third-level industries. It includes both giants in traditional industries and many “hidden champions” with high growth potential, earning it the reputation of an “A-share top-tier class.”

It can be seen that the China Securities Index A500 Index balances the two major demands of “growth potential” and “risk diversification.” These advantages also lay the foundation for the index’s long-term performance. As of March 30, 2026, compared with the base date, the China Securities Index A500 Index is up 459.45%. Over the same period, the CSI 300 Index is up 347.41%, with a clearly significant excess return. (Data source: Wind. The base date of the China Securities Index A500 Index is 2004.12.31. The statistical period is 2005.1.1-2026.3.30. Index performance is for reference only and does not predict future performance.)

Since 2025, the China Securities Index A500 Index has continued to deliver solid performance, rising 21.38%, also outperforming the CSI 300 Index’s gain of 14.16% over the same period. (Data source: Wind. The statistical period is 2025.1.1-2026.3.30. Index performance is for reference only and does not predict future performance.)

Historical performance of the China Securities Index A500 Index

Data source: Wind. Data range: from December 31, 2004 to March 30, 2026. The index’s short-term gains/losses are for reference only and do not constitute investment advice.

Among the many products tracking the China Securities Index A500 Index, Caitong China Securities Index A500 ETF (159338) stands out. In 2025, the product generated accumulated profit of 4.67B yuan for customers, ranking among the top in its peer group, and truly living up to the original intention of letting more investors share market returns through ETF tools.

From the fee perspective, Caitong China Securities Index A500 ETF’s management fee and custody fee are 0.15%/year and 0.05%/year, respectively, both among the lowest in the same category. For investors, lower fees mean less cost, leaving more room for returns.

In the current environment, Caitong China Securities Index A500 ETF is even more favored by capital

Since March, due to external disruptions such as geopolitical conflicts, the market has shown a clear pullback. The index’s single-day volatility has been significantly amplified, and sector rotation has accelerated. For investors, it is becoming increasingly difficult to precisely bet on a single track, and “balanced allocation” or a more prudent investment strategy may be better suited. Against this backdrop, broad-based products represented by the China Securities Index A500 continue to attract capital, thanks to advantages such as balanced industry distribution, diversified risk, and broad coverage.

Looking ahead, China’s domestic macroeconomic recovery is steadily taking shape, monetary policy remains steady and relatively accommodative, and overall liquidity is still reasonably ample, providing solid support for the long-term healthy development of China’s A-share market. Structural market opportunities are still expected to continue. At the same time, uncertainties such as overseas geopolitical conflicts and policy adjustments by the U.S. Federal Reserve still exist, and market volatility risk has not been fully eliminated. The advantages of a “focus on high-quality leaders while balancing value and growth” allocation style may become even more prominent.

As a core broad-based index closely aligned with the development direction of “new-quality productive forces,” the China Securities Index A500 Index deeply covers core assets and leading companies in emerging industries across the entire market. It balances the stability of traditional industries while also taking into account the high growth potential of emerging industries, perfectly matching today’s market investment needs of “balanced allocation with both offense and defense covered.” As the market further recognizes the concept of balanced allocation and as industries related to new-quality productive forces continue to strengthen, the long- and medium-term allocation value of the China Securities Index A500 Index will become increasingly prominent. More unit holders also choosing Caitong China Securities Index A500 ETF (159338) will continue to be a high-quality option for investors to allocate in broad-based exposure and to cope with volatile markets.

Investors without a stock account can also capture investment opportunities in China’s core assets through the China Securities Index A500 ETF’s index-linked funds (Class A: 022448, Class C: 022449, Class I: 022610, Class Y 026615).

Risk warning

Note: The management fee for Caitong China Securities Index A500 ETF is 0.15% per year, and the custody fee rate is 0.05% per year. The front-end subscription fee rate for this fund is as follows: for amounts below 500k yuan, the subscription fee rate is 0.08%; for amounts of 500k yuan (inclusive) to below 1M yuan, the subscription fee rate is 0.50%; for amounts of 1M yuan (inclusive) and above, it is charged per transaction, with 100 yuan per transaction. The index-linked A fund’s management fee rate is 0.15% per year, and the custody fee rate is 0.05% per year. The front-end subscription fee rate for this index-linked fund is as follows: for amounts below 500k yuan, the subscription fee rate is 0.80%; for amounts of 500k yuan (inclusive) to below 1M yuan, the subscription fee rate is 0.50%; for amounts of 1M yuan (inclusive) and above, it is charged per transaction, with 100 yuan per transaction. The subscription fee rate is as follows: for amounts below 500k yuan, the subscription fee rate is 1.00%; for amounts of 500k yuan (inclusive) to below 1M yuan, the subscription fee rate is 0.60%; for amounts of 1M yuan (inclusive) and above, it is charged per transaction, with 100 yuan per transaction. Redemption fee rate is as follows: for holding periods less than 7 days, the redemption fee rate is 1.50%; for holding periods of 7 days (inclusive) and above, the redemption fee rate is 0.00%. The index-linked C fund’s management fee rate is 0.15% per year, and the custody fee rate is 0.05% per year. The sales service fee is 0.20%. There is no subscription fee for redemption. The redemption fee rate is as follows: for holding periods less than 7 days, the redemption fee rate is 1.50%; for holding periods of 7 days (inclusive) and above, the redemption fee rate is 0.00%. The index-linked I fund’s management fee rate is 0.15% per year, and the custody fee rate is 0.05% per year. The sales service fee is 0.10%. There is no subscription fee for redemption. The redemption fee rate is as follows: for holding periods less than 7 days, the redemption fee rate is 1.50%; for holding periods of 7 days (inclusive) and above, the redemption fee rate is 0.00%. The index-linked Y fund’s management fee rate is 0.15% per year, and the custody fee rate is 0.05% per year. There is no sales service fee. The subscription fee rate is as follows: for amounts below 500k yuan, the subscription fee rate is 1.00%; for amounts of 500k yuan (inclusive) to below 1M yuan, the subscription fee rate is 0.60%; for amounts of 1M yuan (inclusive) and above, it is charged per transaction, with 100 yuan per transaction. The redemption fee rate is as follows: for holding periods less than 7 days, the redemption fee rate is 1.50%; for holding periods of 7 days (inclusive) and above, the redemption fee rate is 0.00%.

Unit-holder data source: the fund’s 2025 annual report. The time range is: September 26, 2024 to December 31, 2025. Profit data source: the fund’s 2025 annual report; the remaining data sources: Caitong Fund, Wind. Views are for reference only and may change with changes in market conditions; they do not constitute investment advice or commitments. Funds involve risk; invest with caution. The historical rise/fall of an index does not represent future performance and does not constitute investment advice or commitments. The above ETF funds are equity funds; their expected return and expected risk levels are higher than those of hybrid funds, bond funds, and money market funds. The above ETF funds are index funds. They track the underlying index; their risk-return characteristics are similar to those of the market portfolio represented by the underlying index. The target ETF of the above index-linked funds is an equity index fund. Its expected return and expected risk level are, in theory, higher than those of hybrid funds, bond funds, and money market funds. The funds mainly track the underlying index’s performance by investing in the target ETF, and therefore have risk-return characteristics similar to those of the underlying index and the securities market represented by the underlying index. Before investing, investors should carefully read legal documents such as the “Fund Contract,” the “Prospectus,” the “Product Information Summary,” and the “Risk Disclosure Letter,” to understand the fund’s risk-return characteristics, and determine whether the fund is suitable for your risk tolerance based on your investment objectives, investment horizon, investment experience, and asset situation. Funds involve risk; invest with caution.

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