Recent surges in the new infrastructure sector, exemplified by ultra-high voltage projects and grid upgrades, have captured significant market attention, further highlighting the strategic value of industrial nonferrous metals. As national strategies and industrial upgrading progress, the supply-demand dynamics for industrial nonferrous metals are expected to improve, supporting a rise in price benchmarks and presenting broad investment opportunities. Against this backdrop, the established quantitative powerhouse Fullgoal Fund will officially launch the Fullgoal Nonferrous Metals ETF (Fund Code: 159168) starting January 26th. This ETF closely tracks the CSI Industrial Nonferrous Metals Theme Index (hereafter "Industrial Nonferrous Index"), aiming to provide investors with an efficient tool for one-click exposure to this sector.
As the "lifeblood" of modern industry, the strategic importance of industrial nonferrous metals cannot be overlooked. On one hand, the vigorous development of cutting-edge industries like new energy, low-altitude economy, and quantum technology all rely on the fundamental support of key metals such as copper, aluminum, and rare earths. On the other hand, the proposed "16th Five-Year Plan" explicitly calls to "strengthen the exploration, development, and reserve of strategic mineral resources." Industrial metals, serving as the "resource backup" for critical industries, have become indispensable strategic resources in major power competition, with the supply side exhibiting strong constraints. Low inventory levels and widening supply-demand gaps provide a solid foundation for the sustained upward trajectory of industrial metal prices.
The Industrial Nonferrous Index (H11059.CSI), which the Fullgoal Nonferrous Metals ETF (159168) closely tracks, aggregates 30 leading companies in the industrial nonferrous metals sector. It primarily covers four major industries: copper, aluminum, rare earths, and lead-zinc, focusing on industrial metals and rare metals. It excludes silver and lithium and contains only a small amount of gold, effectively avoiding volatility from precious metals and disruptions from new energy narratives, thereby directly aligning with domestic manufacturing upgrades and the development of emerging industries.
Wind data shows that as of January 21, 2026, the top ten constituents of the Industrial Nonferrous Index accounted for a cumulative weight of 56.18%, highlighting its characteristic of large-cap leaders. These leading companies possess significant advantages in resource reserves, cost control, and technological barriers, resulting in stronger profitability and risk resilience, allowing them to better capture the benefits of an industry upcycle. According to Wind consensus forecasts, the ROE (Return on Equity) of the Industrial Nonferrous Index is expected to climb above 15% by 2027, underscoring its investment value.
Historical data indicates that the Industrial Nonferrous Index often demonstrates stronger earnings elasticity during market upswings. Based on Wind data, from September 24, 2024, to January 21, 2026, the index achieved a cumulative gain of 155.88%, significantly outperforming the CSI 300 Index's gain of 47.01% over the same period. In the single year of 2025, the Industrial Nonferrous Index rose 101.27%, not only substantially outperforming the CSI 300's gain of 19.89% but also delivering impressive performance among various sector indices, showcasing strong upward momentum.
The established quantitative leader Fullgoal Fund will also provide steady management for the Fullgoal Nonferrous Metals ETF. Fullgoal Fund is one of China's first ten public fund management companies. Its quantitative investment team, established in 2009, has been deeply involved in index quantitative investing for over 16 years. In terms of product strategy, Fullgoal Fund keeps pace with the times, actively expanding its index quantitative investment footprint to build a comprehensive and competitive product line covering index enhancement, passive indexing/ETFs, absolute return strategies, and active quantitative management, committed to meeting investors' diversified, index-based, and tool-oriented investment needs.
Comments