As 2025 draws to a close, the ETF market has once again witnessed products delivering annual returns exceeding 100%.
According to Wind data, as of December 9, five ETFs have surpassed the 100% return threshold this year. Technology-focused sectors, particularly communications equipment and artificial intelligence (AI), have led the charge, with related products managed by Guotai, Fullgoal, Southern, and Huabao fund companies.
Among them, the Guotai ChiNext AI ETF (Code: 159388.OF) has achieved a 100.38% return year-to-date, joining the elite group of ETFs that have doubled investors' money this year.
Launched on March 26, 2025, and managed by Ma Yiwen, the fund has been operational for just 0.71 years, making it one of the youngest among the five top-performing ETFs. Since its inception, Ma Yiwen has delivered a 100.38% return, matching the fund's year-to-date performance. As of now, the fund's assets under management stand at 551 million yuan.
A look at its Q3 portfolio reveals a strong concentration in leading AI computing power companies. The top holdings include core optical module suppliers Zhongji Innolight and Eoptolink, followed by upstream optical component firm TFC Optical Communication. The portfolio also features diversified players like Xunlei, Chinasoft International, and Allwinner Technology, covering hardware and solutions in the computing power sector.
Notably, Ma Yiwen increased holdings in eight core stocks by over 200% compared to the previous quarter, with TFC Optical Communication seeing a 205.92% boost and Eoptolink a 204.27% rise.
In the quarterly report, the manager highlighted the industry's momentum: AI sector demand continued to climb in Q3, with overseas cloud providers raising capital expenditures and future expectations. Meanwhile, strong revenue growth from Taiwan-based server manufacturers reflects accelerating AI infrastructure investments. Ma Yiwen noted that domestic cloud providers are also ramping up AI spending, with China's data center super-node industrialization progressing rapidly.
As the year ends, whether this high-volatility fund can sustain its performance—and how its portfolio evolves—will serve as a key indicator of market sentiment toward the AI sector's future prospects.
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