The newly established ETF is not eager to initiate positions, and balanced allocation is the core strategy.

When the spotlight of the market focuses on the tug-of-war around the 4000-point mark of the Shanghai Composite Index, the ETF camp quietly transmits a cautious signal: entering November, several newly established ETFs are not in a hurry to take positions, but gradually announce their listing with a "low position" posture. Some equity positions are as low as one percent, and some are almost completely empty, waiting and observing, only to quickly fill their positions on the day of listing. The "calm" ETFs contrast sharply with the hot market, conveying a cautious attitude of institutional investors towards the current market. At the same time, to deal with market volatility and style rebalancing, "balanced allocation" and "dumbbell strategy" are becoming the core ideas of institutional allocation again.