--- title: "Valuation and performance mismatch, securities ETF ChinaAMC welcomes strategic allocation opportunities" type: "News" locale: "en" url: "https://longbridge.com/en/news/279717192.md" description: "On March 19th, influenced by the hawkish remarks from the Federal Reserve, the securities ETF ChinaAMC (515010) fell by 0.86%. Analysis indicates that the performance of brokerage firms is highly volatile, but the increase in market capacity and the entry of medium to long-term funds have improved performance stability. It is expected that brokerage business will continue to diversify and enter a period of steady growth. Currently, the price-to-earnings ratio of the securities ETF ChinaAMC is 15.97 times, which is at a historical low, providing strategic allocation opportunities. The management fee rate and custody fee rate are both the lowest in the market, assisting investors in their allocations" datetime: "2026-03-19T03:54:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279717192.md) - [en](https://longbridge.com/en/news/279717192.md) - [zh-HK](https://longbridge.com/zh-HK/news/279717192.md) --- # Valuation and performance mismatch, securities ETF ChinaAMC welcomes strategic allocation opportunities On March 19, catalyzed by the hawkish remarks from the Federal Reserve, the three major indices of A-shares experienced a significant pullback, with the securities and fintech sectors declining. As of the midday close, the securities ETF ChinaAMC (515010) fell by 0.86%, with constituent stocks showing mixed performance. First Capital led the gains with an increase of 1.98%, Hongta Securities rose by 0.49%, and Zhongtai Securities increased by 0.32%; Huatai Securities, Guotai Junan, and Changjiang Securities led the declines, while the fintech ETF ChinaAMC (516100) dropped by 0.69%. Huatai Securities analysis pointed out that historically, the performance of the brokerage industry has shown impulsive growth with significant volatility, raising concerns about the sustainability of growth. However, in the past two years, market capacity has significantly increased, with a growing number of investors and listed companies, and medium to long-term capital continuously entering the market. The operations of various business lines in brokerages have improved, with diversified business development, coupled with the enhancement of international business quality, leading to a significant reduction in performance volatility. Looking ahead, under the policy tone supporting the development of the capital market, a slow bull market is expected. We believe that brokerage businesses will continue to diversify, transitioning from impulsive growth to a stable growth phase, with improved stability in performance growth and valuation mismatches providing strategic allocation space. From a valuation perspective, the latest price-to-earnings ratio (PE-TTM) of the securities ETF ChinaAMC tracking the CSI All Share Securities Company Index is only 15.97 times, which is at the 5.02% percentile over the past 10 years, indicating that the valuation is lower than 94.98% of the time in the past decade, placing it at a historical low. The securities ETF ChinaAMC closely tracks the CSI All Share Securities Company Index. As of February 27, 2026, the top ten weighted stocks in the index are Dongfang Caifu, CITIC Securities, Guotai Junan, Huatai Securities, China Merchants Securities, GF Securities, Dongfang Securities, Industrial Securities, Shenwan Hongyuan, and CICC, with the top ten weighted stocks accounting for a total of 60.15%. The management fee rate for the securities ETF ChinaAMC (515010) and the fintech ETF ChinaAMC (516100) is 0.15%, and the custody fee rate is 0.05%, which are the lowest among comparable funds, helping investors to easily allocate to the sector. (The stocks listed above are only constituent stocks of the index and do not constitute specific recommendations.) Securities ETF ChinaAMC (515010), off-exchange connections (ChinaAMC CSI All Share Securities Company ETF Connection A: 007992; ChinaAMC CSI All Share Securities Company ETF Connection C: 007993; ChinaAMC CSI All Share Securities Company ETF Connection D: 023766) ### Related Stocks - [515010.CN](https://longbridge.com/en/quote/515010.CN.md) ## Related News & Research - [1 Rapidly Deteriorating ETF Screams That ‘Shop ‘Til You Drop’ Americans Have All But Keeled Over](https://longbridge.com/en/news/286429552.md) - [Keep Your Portfolio Safe With This Low-Volatility ETF](https://longbridge.com/en/news/286604877.md) - [Guardian Ultra-Short U.S. T-Bill Fund ETF declares $0.1448 dividend](https://longbridge.com/en/news/286471588.md) - [VanEck, Grayscale file fresh BNB ETF amendments as race for next altcoin spot ETF accelerates](https://longbridge.com/en/news/286652991.md) - [BNB ETF Could Be Next Big Crypto Breakthrough, Says Bloomberg Analyst](https://longbridge.com/en/news/286639724.md)