Did your fund make money during the Year of the Snake that just passed?

Investment Time Network, Punctuation Finance Researcher Yu Shun’an

In the recently concluded Year of the Snake (January 29, 2025 – February 16, 2026), the A-share market experienced a spectacular structural bull market. The Shanghai Composite Index returned to 4,000 points after ten years, and global capital markets showed a pattern of strong stocks and stable bonds, with precious metals soaring to historic levels.

As an important channel for ordinary investors to participate in the market, this year, public funds kept pace with market trends, achieving maximum profitability overall. Especially as the technology and non-ferrous metal sectors “take off,” over a hundred funds doubled their net asset values. However, some funds missed the opportunity, with a few even declining more than 10%.

As the Year of the Snake ends and the Year of the Horse begins, did your funds make money last year? Did you outperform the market?

Outstanding Overall Performance

The capital market rebounded strongly in the Year of the Snake. According to Wind data, the Shanghai Composite Index and Shenzhen Component Index rose 25.58% and 38.84%, respectively, while the ChiNext Index surged 58.73%. The STAR Market 50 and Northbound 50 indices increased by 53.95% and 44.59%, respectively. Hong Kong stocks also performed well, with the Hang Seng Index up 32.04%. Additionally, precious metals had a remarkable year, with the Wind White Bank Industry Index and Wind Gold Industry Index soaring 295.37% and 127.66%, respectively.

This impressive market performance laid a solid foundation for fund performance surges. From the overall fund performance data, the Year of the Snake can be called a “harvest year” for the public fund industry.

According to Wind data, the entire industry of 12,027 funds (only main code funds established before January 29, 2025, are counted here) had an average return of 24.13% in the Year of the Snake, with 11,715 funds posting positive returns, accounting for 97.41%.

By category, commodity funds performed particularly well, with an average return of 60.78%, with over 80% of funds exceeding 60%. Active equity funds also performed strongly, with an average return of 39.82%, nearly 99% of products achieved positive returns, and 108 funds doubled their net asset values. Index funds (passive equity funds) also stood out, with an average return of 37.97%, and 58 products doubled in value, becoming convenient tools for investors to seize market opportunities. Bond funds performed more steadily, with an average return of 3.85%. Although not as high as equity funds, they effectively played the role of “ballast” in asset allocation, with nearly 95% of products recording positive returns. The average return of QDII funds was 25.49%, with three products doubling their net asset values.

170 Funds Doubled Their Net Asset Values

Wind data shows that 170 funds performed exceptionally well, with returns exceeding 100% in the Year of the Snake. Among them, six funds achieved gains of over 150%, namely Yongying Technology Intelligent Selection A (022364), Huashang Balanced Growth A (011369), AVIC Opportunity Navigator A (018956), Red Soil Innovation Emerging Industries A (001753), Hengyue Advantage Select A (011815), and Huatai Bairui Quality Growth A (008528), all of which are active equity funds.

A major highlight of the Year of the Snake fund performance was led by technology-themed funds. Yongying Technology Intelligent Selection A achieved an astonishing 221.41% return, leading the pack. Huashang Balanced Growth A followed with 171.25%, ranking second, and AVIC Opportunity Navigator A ranked third with 163.23%. The top three all focused on the technology sector.

In the index fund sector, technology-themed funds also led. The highest gain was from Guotai CSI All-Index Communication Equipment ETF (515880), with a return of 130.86%. Huabao ChiNext Artificial Intelligence ETF (159363) also exceeded 130%, with a return of 130.81%.

Beyond the technology sector, non-ferrous metals-related funds also performed very well. Guotai CSI Non-Ferrous Metals Mining ETF (561330), China Merchants CSI Non-Ferrous Metals Mining ETF (159690), and Wanjia CSI Industrial Non-Ferrous Metals ETF (560860) all posted returns over 120%, ranking among the top gainers.

Sixteen Funds Achieved Over 150% Growth in the Snake Year

Data source: Wind, return statistics from 2025.1.29 to 2026.2.16

15 Funds Declined Over 10%

It is worth noting that despite the overall strong performance of the industry, some products underperformed—311 funds recorded negative returns in the Year of the Snake.

Among them, 15 products saw net asset declines of over 10%, including Tongtai Huize A (008050), Xinyuan Consumption Selection A (017467), Dongcai Value Voyage A (018096), Jianxin Yisheng Zhengshang Futures ETF Connect A (008827), Guorong Rongsheng Leading Selection A (006718), Baoying Advantage Industry A (001487), Qianhai Kaiyuan Artificial Intelligence A (001986), Tianzhi Quantitative Core Selection A (006877), Shenwan Lingxin Medical Pioneer A (005433), Puyin Ansheng Strategy Select A (019394), Shanzheng Asset Management Quality Life A (011917), Jianxin Yisheng Zhengshang Futures ETF (159981), CITIC Construction Smart Life A (010282), Dongwu Industry Rotation A (580003), Huatai Baoxing Health Consumption A (006882). These include 13 active equity funds and 2 commodity funds.

According to Wind data, Tongtai Huize A had a return of -21.17%, ranking last, and was the only fund to decline more than 20% in the Year of the Snake. The second quarter of 2025 saw a change in the fund manager, with a shift in focus from artificial intelligence applications to consumer sectors represented by the pet economy.

Xinyuan Consumption Selection A also experienced a significant decline, with a return of -18.43%. This fund also focused on consumption and changed its manager in 2025; the current manager, Yao Qifan, had not previously managed other funds.

Looking back at the fund market in the Year of the Snake, there were both funds that doubled and those with flat or poor performance. Where does your fund stand?

Snake Year 15 Funds Declined Over 10%

Data source: Wind, return statistics from 2025.1.29 to 2026.2.16

Key Investment Words: Yongying Technology Intelligent Selection A (022364) | Huashang Balanced Growth A (011369) | Tongtai Huize A (008050) | Xinyuan Consumption Selection A (017467) | Baoying Advantage Industry A (001487) | Qianhai Kaiyuan Artificial Intelligence A (001986) | Tianzhi Quantitative Core Selection A (006877)