---
title: "Southern Fund's free cash flow ETF Southern Volatility surged nearly 1%, as the market's deep adjustment releases risks, and the mid-term layout window may have emerged"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280269064.md"
description: "Southern Fund's free cash flow ETF Southern (159232) rose by 0.83%. As the market undergoes a deep adjustment, analysis suggests that the current level represents a relatively low point for A-shares in the medium term, revealing layout opportunities. Although short-term trends are uncertain, market risks have been released, and valuations are reasonable. It is recommended to allocate to cyclical manufacturing sectors with high cash flow quality and profit elasticity. The ETF, by tracking high free cash flow companies, selects core assets with sustainable profitability, becoming a tool for investors to lay out quality assets"
datetime: "2026-03-24T06:44:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280269064.md)
  - [en](https://longbridge.com/en/news/280269064.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280269064.md)
---

# Southern Fund's free cash flow ETF Southern Volatility surged nearly 1%, as the market's deep adjustment releases risks, and the mid-term layout window may have emerged

As of March 24, 2026, 14:24, the CS CASH FLOW ETF Southern (159232) rose by 0.83%, with an intraday turnover of 4.97%, and a transaction volume of 187 million yuan. The tracking index, the CSI All Share Free Cash Flow Index (932365), increased by 0.90%.

Institutional analysis indicates that this may be a relative low point for A-shares in the medium term, and the deep adjustment has created a good opportunity for positioning. Although there is still some uncertainty in the short-term trend, after the adjustment, the risk in the A-share market has been further released, and valuations are at a relatively reasonable level. From a medium-term perspective, the macro environment in which the market is situated has not fundamentally changed, and the logic supporting the "steady progress" of the A-share market remains valid. The release of risks and downward adjustments are expected to bring better allocation opportunities.

In the context of physical re-inflation, the free cash flow strategy outperforms the high dividend strategy and should be overweight in cyclical manufacturing. During the profit recovery cycle, free cash flow is more anchored to profit elasticity, and long-term returns and Sharpe ratios significantly outperform dividend indices; current allocations should shift towards cyclical manufacturing sectors with high cash flow quality and strong profit elasticity.

The CS CASH FLOW ETF Southern (159232) closely tracks the CSI All Share Free Cash Flow Index, which selects 100 listed companies with high free cash flow rates as index samples to reflect the overall performance of listed companies with strong cash flow generation capabilities. The top ten weighted stocks in the index are China National Offshore Oil Corporation, SAIC Motor Corporation, Gree Electric Appliances, China COSCO Shipping, Aluminum Corporation of China, TCL Technology, Muyuan Foods, Chint Electrics, Baosteel, and Great Wall Motors.

The CS CASH FLOW ETF Southern (159232) aims to track high free cash flow rate enterprises, eliminating "paper wealth" and selecting core assets that truly possess sustainable profitability and dividend strength, making it a powerful tool for investors to position quality assets and smooth investment volatility in the current market environment.

The CS CASH FLOW ETF Southern (159232) has off-exchange connections (Class A: 025958; Class C: 025959)

### Related Stocks

- [159232.CN](https://longbridge.com/en/quote/159232.CN.md)

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