Differences in Constituent Stocks

The CSI Consumer 50 Index consists of 50 large-cap, high-quality consumer sector listed companies in the A-share market, which typically hold strong market positions and brand influence in their respective sub-sectors. The CSI-HKSC Consumer Theme Index covers consumer companies listed in Hong Kong, selecting 50 liquid and large-cap consumer theme stocks from the Stock Connect program.

In terms of the top 10 constituents by weight, the combined weighting of the CSI Consumer 50 Index exceeds 75%, while this ratio is less than 70% for the CSI-HKSC Consumer Theme Index, indicating relatively lower concentration.

Corresponding to the sector distribution, 6 out of the top 10 constituents of the CSI Consumer 50 Index belong to the consumer staples sector, including well-known consumer leaders such as Kweichow Moutai and Yili Group. In contrast, among the top 10 constituents of the CSI-HKSC Consumer Theme Index, 6 are in the consumer discretionary sector and 3 are in the information technology sector, such as Meituan, Tencent Holdings, and Xiaomi Group. Additionally, the index components also include new consumer targets, such as "new force" automakers Li Auto and XPeng, apparel companies Li Ning and Anta Sports, and hot pot restaurant chain Haidilao.

Currently, there are products like the Consumer 50 ETF (159798) and HK Consumer 50 ETF (513070) tracking the CSI Consumer 50 Index and CSI-HKSC Consumer Theme Index, respectively. Investors can make rational judgments based on investment objectives, time horizon, experience, and financial situation, fully considering their risk tolerance. After understanding the basic characteristics of the indices, they should combine fundamental analysis, valuation, and other factors to make prudent investment decisions.