短债“又安全又赚钱”！贝莱德类现金ETF规模首次超越明星长债ETF

华尔街见闻

07/10

投资者对短债偏好持续升温，贝莱德的现金类ETF表现超越“臭名昭著”的长期债券交易。 7月9日，贝莱德旗下0-3个月国债ETF (SGOV)资产规模首次超越该公司的明星产品——20年期以上国债ETF (TLT)。报道指出，超过500亿美元的SGOV意味着其已成为谨慎现金持有者的避风港，更反映出ETF投资者正在拥抱低波动率的短期债券，同时远离难以定价的长期货币政策风险。在美联储维持利率不变、通胀...

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href=\"https://wallstreetcn.com/articles/3750780\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4550","symbol_name":"红杉资本持仓","start_time":0,"source_url":"https://wallstreetcn.com/articles/3750780","article_id":"2550691901","we_media_id":"1084101182","thumbnails":["https://static.tigerbbs.com/cadcfb88697d09bb90cb85e829df2277"],"rights":{"source":null,"url":"https://wallstreetcn.com/articles/3750780","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2550691901","pubTimestamp":1752123655,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"华尔街见闻","introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"summary":"贝莱德旗下0-3个月国债ETF (SGOV)已成为谨慎现金持有者的避风港，管理资产超过500亿美元，规模首次超越该公司的明星产品——20年期以上国债ETF 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BlackRock's cash-like ETF surpasses star long-term bond ETF for the first time","themeId":"","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/c7903caf23c1fd0920a825069001d798","symbols_score_info":{"159834":1,"518680":1,"BLK":1,"FDN":1},"content_text":"投资者对短债偏好持续升温，贝莱德的现金类ETF表现超越“臭名昭著”的长期债券交易。\n7月9日，贝莱德旗下0-3个月国债ETF (SGOV)资产规模首次超越该公司的明星产品——20年期以上国债ETF (TLT)。\n报道指出，超过500亿美元的SGOV意味着其已成为谨慎现金持有者的避风港，更反映出ETF投资者正在拥抱低波动率的短期债券，同时远离难以定价的长期货币政策风险。\n在美联储维持利率不变、通胀依然坚挺的背景下，许多投资者满足于持有现金并获得超过4%的收益。过去五年中，SGOV提供了温和但稳定的回报，2025年SGOV的资金流入规模更是位居前列。\n道富集团旗下类似基金今年早些时候也创下资产规模纪录，现金的吸引力还推动货币市场基金资产升至7万亿美元以上的历史新高。与之相对的是TLT吸引了数百亿美元资金流入，但价值下跌约40%，赢得了ETF界\"寡妇制造者\"的恶名。\nTLT曾是交易最活跃的债券ETF，深受那些希望激进押注利率波动的投资者青睐。贝莱德的Rick Riede就是预期收益率曲线变陡的投资者之一。他上周接受采访时表示：\n\n目前股市比国债长端提供更多机会，会有那么一个时点，我们会想要持有一些久期（TLT可以让你超配久期），但我认为今天还不需要。\n\nStrategas高级ETF策略师Todd Sohn则表示：\n\n对低波动率、稳定收益的偏好正在增长。许多投资者现在意识到持有长期债券会面临巨大的波动性。\n\nSohn强调长期债券基金的波动性水平与标普500指数相当：\n\n除非你对经济极度悲观并认为利率会崩溃，否则TLT的额外波动性是不值得的。","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}