In the layout of the energy and chemical sector, the indices that have attracted market attention include: CNI Oil &amp; Gas Index (referred to as &#34;CNI Oil &amp; Gas&#34;), CSI Petrochemical Industry Index (referred to as &#34;Petrochemical Industry&#34;), and CSI Chemicals Sub-industry Theme Index (referred to as &#34;Chemicals Sub-industry&#34;). What are the differences between these indices? How should we choose?
From the perspective of index positioning, CNI Oil &amp; Gas focuses on oil and gas exploration and development, oil and gas equipment and services, gas transmission and distribution sales, etc. Chemicals Sub-industry purely focuses on chemical products and other chemical industries, while Petrochemical Industry covers both oil and gas and chemical sectors, providing a broader coverage.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OyKNbUnQIMJ0CD9BEBEmn_pQ4X5FLd63yGvF7_Au-aYk4AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OyKNbUnQIMJ0CD9BEBEmn_pQ4X5FLd63yGvF7_Au-aYk4AA/641"/>
From the top ten constituent stocks, CNI Oil &amp; Gas is mainly composed of oil and gas extraction and storage and transportation companies, with the &#34;Three Oil Giants&#34; (China National Petroleum, China National Offshore Oil, China Petroleum &amp; Chemical) each accounting for over 10%, and a high concentration of the top ten constituent stocks (67.9%); the Petrochemical Industry balances both chemical and oil and gas processing companies, including Wanhua Chemical, Salt Lake Industry, and the &#34;Three Oil Giants,&#34; with a moderate concentration of the top ten constituent stocks (55.9%); Chemicals Sub-industry is primarily composed of chemical companies and does not involve the &#34;Three Oil Giants,&#34; with a relatively low concentration of the top ten constituent stocks (45.2%).
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OLHxkD-GfOj3iqeyDwLeRMoINWfdzPPHMgPKuzOBvIKQ0AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OLHxkD-GfOj3iqeyDwLeRMoINWfdzPPHMgPKuzOBvIKQ0AA/641"/>
Data source: iFind, as of March 17, 2026.
From the perspective of market capitalization structure, CNI Oil &amp; Gas shows a &#34;polarization&#34; characteristic, with small-cap stocks below 10 billion accounting for as much as 50%, while there are also super large-cap stocks above 300 billion (accounting for 4%), resulting in relatively large overall elasticity; both Petrochemical Industry and Chemicals Sub-industry are mainly composed of mid-cap stocks between 10 billion and 50 billion, with a relatively balanced market capitalization distribution and smaller elasticity.
Constituent stock circulating market capitalization distribution
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Of_cA-F7mQBntbXEaTDbTBoLcgKZ_fJdYCOaMoU8PGEvUAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Of_cA-F7mQBntbXEaTDbTBoLcgKZ_fJdYCOaMoU8PGEvUAA/641"/>
Data source: iFind, March 25.
In summary, for participating in oil &#34;family&#34; investments:
If you are optimistic about rising oil prices and prefer higher elasticity, pay attention to the CNI Oil &amp; Gas Index. Oil ETF E Fund ( 159181) has a management fee of 0.15% per year, while most similar ETFs have a management fee rate of 0.50% per year, providing significant long-term holding cost advantages.
If you want to seize investment opportunities in the entire petrochemical industry chain and pursue a relatively balanced allocation in segmented fields, pay attention to the CSI Petrochemical Industry Index. The E Fund CSI Petrochemical Industry ETF (516570) that tracks this index also has a significant fee advantage (0.15% per year) and ranks first in size among similar ETFs.
If you focus on downstream investments in the petrochemical industry, pay attention to the CSI Chemicals Sub-industry Theme Index.
Risk Warning: Funds carry risks, and investment should be cautious

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CNI Oil & Gas, CSI Petrochemical Industry, and CSI Chemicals Sub-industry indices each have different focuses. CNI Oil & Gas concentrates on the oil and gas sector, with a high concentration of constituent stocks, making it suitable for investors optimistic about rising oil prices; the Petrochemical Industry covers both oil and gas and chemicals, with a more balanced distribution of constituent stocks; the Chemicals Sub-industry focuses on chemical products, with a low concentration of constituent stocks. Investors can choose the corresponding index based on their needs, and the management fee for related ETFs is 0.15% per year, offering a cost advantage

腾讯新闻 - 财经

Invesco Great Wall CNI Oil&Gas ETF

GF Fund CNI Oil&Gas ETF

Tianhong CSI Chemicals Sub-industry ETF

细分化工

Guotai CSI Oil & Gas Industry ETF

China Merchants CNI Oil&Gas ETF

Fullgoal CSI Subdivision Chemical Industry Theme ETF

Fullgoal S&P Oil & Gas Exploration & Production Select Industry ETF(QDII)

Penghua CNI Oil&Gas ETF

ChinaAMC CSI Petrochemical Industry ETF

CNI Oil&Gas

E Fund CSI Petrochemical Industry ETF

What are the differences between CNI Oil & Gas, Petrochemical Industry, and Subdivision Chemicals indices?