ETFs的套期保值研究

有关文献只提及ETFs的套期保值功能,并未深入研究。本文将重点探讨ETFs产品为什么能够用以套期保值,并讨论其套期保值操作的应用:①在规避个股系统性风险的情况下如何进行个股的非系统性风险投机;②分散化投资组合利用ETFs进行套期保值的策略定位。

ETFs value maintaining research

Many of the relevant literatures only mention the hedging function of ETFs ,but no further research .The purpose of this article is to explain why ETFs can be treated as a tool for hedging ,and to discuss its applications——The first one is how to speculate in unique risk of a corporate stock when eliminating its systematic risk ; The second one is how to pitch the strategy when we use ETFs to hedge the investing risk of a well-diversified portfolio.