Value style prevails! The bank ETF Tianhong (515290) underlying index rises against the trend, with valuations below nearly 70% of historical periods

The Tianhong CSI Bank ETF (515290) saw its underlying index rise against the trend, with an increase of 0.3% and a transaction volume of 16.1459 million yuan. This ETF closely tracks the CSI Bank Index, which has increased by 0.95% over the past year. The current price-to-book ratio is 0.672 times, which is lower than nearly 70% of historical periods, indicating a high margin of safety and allocation value. The banking sector is influenced by multiple factors, with market risk aversion rising, residents shifting savings to wealth management products, and policy levels releasing stability signals, with fiscal policy supporting bank credit issuance