--- title: "The non-ferrous metal ETF Tianhong (159157) had a net subscription of 127 million units last Friday, ranking first among the same category in the Shenzhen market, with a valuation lower than over 60% of the time in the past decade" type: "News" locale: "en" url: "https://longbridge.com/en/news/280936252.md" description: "The Non-Ferrous Metal ETF Tianhong (159157) had a net subscription of 127 million units last Friday, becoming the top fund of its kind in the Shenzhen market, with a transaction amount of 204 million yuan. This ETF has achieved a net inflow of 4.889 billion yuan over the past 29 trading days, with the latest scale reaching 5.007 billion yuan. Its underlying index covers industries such as copper, aluminum, and gold, and the current valuation is below 63.49% of the time over the past decade, providing a cost-performance advantage. The industrial non-ferrous sector is boosted by multiple factors, including corporate profit growth and supply-side disruptions" datetime: "2026-03-30T01:23:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280936252.md) - [en](https://longbridge.com/en/news/280936252.md) - [zh-HK](https://longbridge.com/zh-HK/news/280936252.md) --- # The non-ferrous metal ETF Tianhong (159157) had a net subscription of 127 million units last Friday, ranking first among the same category in the Shenzhen market, with a valuation lower than over 60% of the time in the past decade Editor: Ye Feng On March 27, the two markets opened lower and then rose, with the non-ferrous metal concept increasing. In terms of related ETFs, the non-ferrous metal ETF Tianhong (159157) saw its underlying index close up 1.66%, with a net subscription of 127 million shares, ranking first among similar funds in the Shenzhen market; the transaction amount reached 204 million yuan; and the turnover rate was 4.02%. Among the constituent stocks, Hailiang Co., Ltd. rose over 5%, with multiple stocks such as Yunnan Tin Company, China Rare Earth, and Shenhuo Co., Ltd. also rising. Notably, Wind shows that the non-ferrous metal ETF Tianhong (159157) has achieved continuous "capital absorption" over the past 29 trading days (from February 6, 2026, to March 26, 2026), with a total net inflow of funds of 4.889 billion yuan in the last 30 trading days. As of March 26, 2026, the latest scale of this fund was 5.007 billion yuan, ranking first among similar funds in the Shenzhen market. The non-ferrous metal ETF Tianhong (159157) covers industries such as copper, aluminum, gold, and rare earths, encompassing precious metals (safe-haven), strategic metals (growth), and industrial metals (recovery) across different economic cycles, allowing for better capture of the beta trend of the entire sector. This ETF is also equipped with two off-market connection funds (Class A: 017192; Class C: 017193). Data from the past decade shows that the industrial non-ferrous index PE-TTM is 21.81 times, with a valuation at the 36.51% percentile over the past decade, lower than the 63.49% percentile over the same period, indicating a certain cost-performance advantage in the current valuation. On the news front, the industrial non-ferrous sector is boosted by multiple factors. First, according to the National Bureau of Statistics, profits of industrial enterprises above designated size nationwide grew by 15.2% year-on-year in January-February 2026, with profits in the non-ferrous metal smelting and rolling processing industry significantly increasing by 1.5 times year-on-year. Second, frequent disturbances on the supply side, with a major lithium miner in Australia announcing a reduction in some mining operations due to fuel supply issues; at the same time, end consumption is switching to the peak season, leading to a decline in inventories of certain metal varieties. Additionally, according to the Securities Times, domestic monetary policy continues to maintain a moderately loose tone, providing liquidity support for the market. 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