Performance Shuffle in the First Seven Months Before Public Offering: Only Two Funds Have Doubled This Year

With the conclusion of July, the performance of equity funds in the public fund industry for the first seven months of 2026 has been revealed. The A-share market's extreme structural trend has encountered a phase adjustment, with significant net value drawdowns for the previously booming AI and semiconductor growth track funds. The number of double-return funds has drastically shrunk, with only two products under E Fund maintaining double returns. According to Wind data, as of July 31, only 2 actively managed equity funds achieved a year-to-date return of over 100%, while that figure was as high as 199 in the first half of the year. Specifically, the top 20 performance spots in the first seven months were dominated by technology and AI-themed funds, but the vast majority of fund products experienced noticeable net value drawdowns in the past month, as capital chose to cash out at high levels. Dividend, pharmaceutical, and small- and mid-cap stocks have thus welcomed a counter-cyclical recovery window.