26 trillion yuan! Public offering overall profit last year, broad-based ETF performance eye-catching.

After the rapid surge in profits to 2 trillion yuan in the third quarter of 2025, public funds overall suffered a loss of 110.1 billion yuan in the fourth quarter of 2025. However, looking at the entire year, all types of public fund assets achieved profits, with equity assets showing strong growth and pushing the industry's annual profits to over 2.6 trillion yuan. Passive investment performed exceptionally well, with large-scale ETF broad-based products occupying the top spots in the public fund product profit rankings, including several gold ETFs. This in a way reflects the profound changes in the capital market over the past year. In the fourth quarter of 2025, the equity market underwent a slight adjustment. Data from Tianxiang Investment Advisory shows that public funds suffered a loss of 110.1 billion yuan in the fourth quarter of last year, with hybrid funds and stock funds collectively losing over 180 billion yuan, QDII funds losing 71.047 billion yuan, and public FOF funds also suffering a slight loss of 2.13 billion yuan.