Household Appliances ETF Huaxia (Trading Code: 515640, Subscription Code: 515643) is now on sale today!
What you need to know about whether this ETF is worth buying?
01
What index does this fund track?
Household Appliances ETF Huaxia tracks the CSI All Share Household Appliances Index, which selects 70 listed companies from the Shanghai and Shenzhen markets related to the industry as sample stocks, accurately covering the household appliances industry, with white goods accounting for over 40%.
From a segmented industry perspective, the CSI All Share Household Appliances Index highly focuses on the Shenwan household appliances industry. According to Shenwan's secondary industry classification, the top four segments are white goods (42.0%), household appliance components (21.1%), black goods (9.6%), and small appliances (9.4%), collectively accounting for over 80%. This composition reasonably reflects the structural composition of the household appliances industry.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oql51fd2dLhyYGoGtUKTWy4k7xbN1DMjjbQSp3XeTfjy4AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oql51fd2dLhyYGoGtUKTWy4k7xbN1DMjjbQSp3XeTfjy4AA/641"/>
Data Source: Wind, as of February 28, 2026.
Further segmented, white goods mainly consist of air conditioners and washing machines (refrigerators and washing machines), with overall weights of 28.9% and 13.1%, respectively, both having a high composition ratio. Black goods are primarily dominated by color TVs, accounting for 8.9% of the overall weight. Small appliances mainly include cleaning small appliances (robot vacuums), kitchen small appliances, etc., aligning with the consumption iteration trend of Generation Z.
Industry Weight Distribution of CSI All Share Household Appliances Index Constituents (%)
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oj-J1J2-dqPqULLyqD_hI3hjPjBcoIvhAIGFRLqKt1adEAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oj-J1J2-dqPqULLyqD_hI3hjPjBcoIvhAIGFRLqKt1adEAA/641"/>
Data Source: Wind, as of February 28, 2026.
The top ten constituents of the CSI All Share Household Appliances Index are highly representative, concentrating well-known white goods leaders (Midea, GREE, Haier), color TV leaders (Changhong, Hisense), and robot vacuum leaders (Roborock, Ecovacs). Additionally, Zhaochi Co., Ltd. is a global leader in TV ODM manufacturing, while Sanhua Intelligent Control and Megmeet have outstanding advantages in their respective fields.
Top Ten Constituents of the CSI All Share Household Appliances Index
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OyduQnvcCPPB_ikHXsYqpVzuM36tJXz5X07HGK03dYebIAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OyduQnvcCPPB_ikHXsYqpVzuM36tJXz5X07HGK03dYebIAA/641"/>
Data Source: Wind, weight and market value data as of February 28, 2026. Individual stocks are not investment recommendations.
02
What is the investment value of the index?
As of March 10, 2026, the CSI All Share Household Appliances Index has a price-to-earnings ratio of 16.19 times, positioned at the 34.54% percentile since the index was launched; the price-to-book ratio is 2.65 times, positioned at the 14.09% percentile since the index was launched, both at historically low levels, providing investors with a high margin of safety and potential valuation recovery space
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Ovl-a3GUaFMvf8_jiMxU48LYdslbzbp7r09Njhri8TqTUAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Ovl-a3GUaFMvf8_jiMxU48LYdslbzbp7r09Njhri8TqTUAA/641"/>
Data source: Wind, as of March 10, 2026.
At the same time, the CSI All Share Household Appliances Index has a dividend yield of 3.86%, highlighting the value of dividends, with high dividends providing a safety margin (data source: Wind, as of March 10, 2026).
From historical market performance, the CSI All Share Household Appliances Index closely fits the performance of the Shenwan Household Appliances industry, making it a suitable target for investing in the household appliances sector.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OsxLZQG7ZafmRO0_qkvl9tZECMT304rQf4pR5c-wJu4TEAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OsxLZQG7ZafmRO0_qkvl9tZECMT304rQf4pR5c-wJu4TEAA/641"/>
Data source: Wind, as of March 10, 2026. The returns of the CSI All Share Household Appliances Index over the last five complete accounting years (2021-2025) were: -10.70%, -22.02%, 2.99%, 22.26%, 13.47%. The historical performance of the index does not represent the performance of fund products.
03
Is the home appliance business a good one?
From an industry comparison perspective, the home appliance industry has stable cash dividend returns, with a dividend yield of 3.5% over the past 12 months, second only to coal, oil and petrochemicals, banks, and food and beverages, ranking among the top of the market. Due to the mature development stage of the industry and a relatively stable landscape, leading enterprises have deep economic moats, stable profitability, and cash flow. To reduce the impact of accumulated cash on ROE, companies generally adopt a stable dividend strategy to enhance shareholder returns, making it suitable for allocation towards dividend styles and income-generating funds.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oe5KUDNExDShsyK9NMumVKmI7rZflejDpJw30h2lemnHMAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Oe5KUDNExDShsyK9NMumVKmI7rZflejDpJw30h2lemnHMAA/641"/>
Data source: Wind, as of March 10, 2026.
At the same time, under the new industrial trends of AI and robotics, upstream component companies are actively expanding incrementally in line with trends, which is expected to bring new investment opportunities.
On one hand, the transformation towards intelligence and greening is accelerating the iteration of component technologies, and the competitive barriers for enterprises are being restructured;
On the other hand, some component manufacturers are extending into high-growth sectors such as new energy vehicles and industrial robots based on their technological accumulation, forming a &#34;second growth curve,&#34; which provides significant room for scale expansion for upstream household appliance companies.
04
What is the outlook for the home appliance industry?
In 2025, the home appliance industry as a whole shows strong operational resilience, presenting a trend of &#34;internal rise and external decline, high in the front and low in the back.&#34; Driven by the national old-for-new policy (national subsidies), the domestic market performs brilliantly, effectively offsetting the export pressure brought by overseas tariff disturbances
Domestic Sales: In 2025, national subsidies will promote a continuous improvement in the consumption fundamentals, with China's total retail sales of consumer goods expected to grow by 3.7% year-on-year, among which the retail sales of household appliances and audio-visual equipment are expected to grow by 13.5% year-on-year. The national subsidy policy will be gradually promoted starting from the second half of 2024, driving the growth rate of household appliance retail sales to rapidly exceed the overall retail sales and maintain high-speed growth, indicating that national subsidies will fully stimulate the vitality of household appliance consumption.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OJkaNY79Ttun38GNv70wnvrwCuvqbU8dQZtM7Vz2H_YgMAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OJkaNY79Ttun38GNv70wnvrwCuvqbU8dQZtM7Vz2H_YgMAA/641"/>
Data Source: iFind, General Administration of Customs, Founder Securities Research Institute
External Sales: In 2025, the scale of household appliance exports will remain stable, with a total annual export amount of 688.9 billion yuan. Although facing a year-on-year tariff disturbance of -3.3%, leading enterprises have demonstrated outstanding resilience through the expansion of emerging overseas markets and capacity layout, with monthly figures stabilizing and returning to positive.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/ObQexgAH-Rh7PnSaUFLp1t6G4LtdrvGDxMcz7BgXAReVkAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/ObQexgAH-Rh7PnSaUFLp1t6G4LtdrvGDxMcz7BgXAReVkAA/641"/>
Data Source: iFind, General Administration of Customs, Founder Securities Research Institute
Looking ahead to 2026, the policy for replacing old consumer goods with new ones will be released, with subsidies focusing more on large household appliances and first-level energy or water efficiency, emphasizing environmentally friendly and technological products. As national subsidy funds are gradually put in place, the market's uncertainty regarding the post-subsidy cycle is gradually decreasing, which is beneficial for the long-term stabilization of the household appliance market.
The changes in external demand for the household appliance market in 2026 will present complex and structurally opportunistic characteristics. After experiencing tariff policy disturbances, inventory reduction in overseas channels, and the impact of high base effects in 2025, China's household appliance exports are expected to enter a new phase of &#34;moderate recovery, structural differentiation, and capacity reshaping&#34; in 2026. (Data Source: Wind, ChinaAMC, opinions for reference only, not as investment basis.)
05
What are the advantages of buying this ETF compared to individual stocks?
For most investors, investing in the household appliance industry through this ETF is far more advantageous than directly buying stocks:
Lower investment threshold: Each stock may require tens of thousands of yuan for one lot. This ETF is priced in RMB, and participation can be easily achieved with around 1,000 yuan, significantly lowering the investment threshold.
Effective risk diversification: This fund invests in a basket of 70 stocks, avoiding the huge risks brought by underperforming individual stocks or black swan events, achieving effective risk diversification.
Professional team management: There is no need to spend a lot of time researching individual stocks or analyzing financial reports, as the professional team of ChinaAMC is responsible for index tracking and dynamic adjustment.
Lower transaction costs: The management fee for the household appliance ETF by ChinaAMC is 0.15%, and the custody fee is 0.05%, both of which are the lowest levels in the industry.
06
How to subscribe to this fund?
This fund will be available for subscription from March 23, 2026, to April 3, 2026 (inclusive). Investors need to have an A-share account at the Shanghai Stock Exchange or a securities investment fund account at the Shanghai Stock Exchange to subscribe to this fund
Currently, investors can choose two methods to subscribe to this fund: online cash subscription and offline cash subscription.
Online cash subscription is based on fund shares application. Investors should subscribe using a Shanghai securities account, with each subscription amount needing to be 1,000 shares or its integer multiples, and the maximum cannot exceed 99,999 shares.
Offline cash subscription is based on fund shares application. Investors can process offline cash subscriptions through the issuing agency, with each subscription amount needing to be 1,000 shares or its integer multiples. For investors processing offline cash subscriptions through the fund manager, each subscription amount must be above 50,000 shares (including 50,000 shares).
The subscription fees for subscriptions made through the issuing agency are to be borne by the investors, with the subscription fee rate not exceeding 0.3%. The specific subscription fee rates are as follows:
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OtHGCWeLfW5NaADbmCvRDKVZvVxh_HHpQvoGa0gpjt1m4AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OtHGCWeLfW5NaADbmCvRDKVZvVxh_HHpQvoGa0gpjt1m4AA/641"/> No subscription fees are charged when processing offline cash subscriptions through the fund manager. The issuing agency may charge certain subscription fees/commissions for online cash subscriptions and offline cash subscriptions according to the above fee structure.
Note: ① The issuing agency may charge certain subscription fees/commissions for online cash subscriptions and offline cash subscriptions according to the above fee structure. ② When investors subscribe or redeem fund shares, the subscription and redemption agency may charge a commission not exceeding 0.5%. ③ On-market transaction fees are subject to the actual charges by the securities company.
Risk Warning: 1. This fund is an equity fund, primarily investing in the constituent stocks of the target index and alternative constituent stocks, with expected risks and expected returns higher than those of mixed funds, bond funds, and money market funds, classified as medium to high risk (R4) products. The specific risk rating results are subject to the ratings provided by the fund manager and sales institutions. 2. The management fee for the above product is 0.5%, and the custody fee is 0.1%. 3. Before investing in this fund, investors should carefully read the fund's &#34;Fund Contract,&#34; &#34;Prospectus,&#34; and &#34;Product Information Summary&#34; and fully understand the risk-return characteristics and product features of this fund. They should consider their risk tolerance based on their investment objectives, investment horizon, investment experience, asset status, and other factors, and make rational judgments and cautious investment decisions based on an understanding of the product situation and sales suitability opinions, independently bearing investment risks. 4. The fund manager does not guarantee that this fund will definitely make a profit, nor does it guarantee a minimum return. The past performance and net value of this fund do not indicate its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. 5. The fund manager reminds investors of the &#34;buyer bears the risk&#34; principle in fund investments. After investors make investment decisions, the investment risks arising from the fund's operational status, fluctuations in the trading price of fund shares, and changes in the fund's net value are the responsibility of the investors. 6. The registration of this fund by the China Securities Regulatory Commission does not indicate a substantive judgment or guarantee regarding the investment value, market prospects, and returns of this fund, nor does it indicate that investing in this fund is risk-free. 7. This product is issued and managed by ChinaAMC, and the distribution agency does not bear the responsibility for the product's investment, redemption, and risk management
8. The market has risks, and investment must be cautious. 9. The individual stocks mentioned in the article are not recommendations

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The Household Appliances ETF ChinaAMC (trading code 515640, subscription code 515643) is now on sale, tracking the CSI All Share Household Appliances Index, which includes 70 related listed companies, with white goods accounting for over 40%. The top ten constituent stocks of the index include well-known brands such as Midea, GREE, and Haier, with a price-to-earnings ratio of 16.19 times and a price-to-book ratio of 2.65 times, both at historically low levels, providing a high margin of safety and potential valuation recovery space

腾讯新闻 - 财经

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Household Appliances ETF from ChinaAMC goes on sale today! Read this article to understand whether this ETF is worth buying