diff --git a/sanguo_portfolio/providers/sanguo_fundamentals.py b/sanguo_portfolio/providers/sanguo_fundamentals.py
index 057a4a1..f495ddb 100644
--- a/sanguo_portfolio/providers/sanguo_fundamentals.py
+++ b/sanguo_portfolio/providers/sanguo_fundamentals.py
@@ -57,6 +57,12 @@ except ImportError as _e:  # Mac dev 环境可能未装,允许模块加载
 from .local_unified_provider import LocalUnifiedProvider
 
 
+# unified 本地 parquet 可供的 fundamentals 列(2026-08-26 整步本地化白名单):
+# fields 给定且全落此集合 → get_fundamentals_df 直接委托 unified, 跳过 xt。
+# 白名单外列(roic/pe_ratio/... xt 口径更全)仍走老路径, 不做半本地半 xt 混合。
+_LOCAL_FUND_FIELDS = frozenset(
+    {"market_cap", "circulating_market_cap", "eps"})
+
 # 聚宽 valuation/indicator/balance 列名 → 我们合并 DataFrame 的列名
 # (统一用聚宽列名,方便策略层直接 pandas 筛选)
 JQ_COLUMN_ALIASES: Dict[str, str] = {
@@ -454,9 +460,24 @@ class SanguoMiniQmtProvider(MiniQMTProvider):  # type: ignore[misc]
         if not stocks:
             return pd.DataFrame(columns=list(JQ_COLUMN_ALIASES.values()))
 
-        xt = self._ensure_xtdata()
         date_str = _to_date_str(date)
 
+        # Step 0: fields 全落 unified 本地可供列 → 整步本地化(2026-08-26 根治
+        # small_cap 选股 2/3 18min)。xt 路径 = download_financial_data(全池)卡满
+        # 120s 超时被弃 + get_financial_data 逐股读缓存 ≈0.3s × 3226 只 ≈ 16min
+        # (08-26 live_20 [delay=+1084s] 实锤); unified parquet 批量秒级, 且 eps
+        # 与回测同源(LPP 年报 BASIC_EPS)——live 原走 miniQMT 最新一期, 双轨本就
+        # 漂移, 全本地化后 live/回测同口径。本地异常回退 xt 老路径(fail-open)。
+        if fields and set(fields) <= _LOCAL_FUND_FIELDS:
+            try:
+                return self._unified.get_fundamentals_df(
+                    stocks, date=(date_str or datetime.now().strftime("%Y-%m-%d")),
+                    fields=fields)
+            except Exception as exc:  # noqa: BLE001 - 本地失败回退 xt 路径
+                logger.warning("本地 fundamentals 快路失败, 回退 xt 路径: %s", exc)
+
+        xt = self._ensure_xtdata()
+
         # Step 1: 拉财务数据(miniQMT 返回 dict[stock_code] -> dict[table] -> DataFrame)
         # 成分股用 jq code,xtdata 要 QMT 风格("600519.SH"),通过 _normalize_security_code
         qmt_stocks = [self._normalize_security_code(s) for s in stocks]
diff --git a/tests/portfolio/test_provider.py b/tests/portfolio/test_provider.py
index c40463a..8d6bd5e 100644
--- a/tests/portfolio/test_provider.py
+++ b/tests/portfolio/test_provider.py
@@ -165,6 +165,102 @@ class TestFundamentalsMarketCapLocalization:
         assert kwargs["fields"] == ["market_cap", "circulating_market_cap"]
 
 
+class TestFundamentalsFullLocalShortcut:
+    """2026-08-26 根治: fields 全落本地可供列 → 整步委托 unified, 跳过 xt。
+
+    实锤: live_20 选股 2/3 fundamentals 335s→1081s(18min)才下单, 根因 =
+    xt.download_financial_data(3226) 卡满 120s 超时 + get_financial_data 逐股
+    ≈0.3s × 全池 ≈ 16min; 而策略只消费 market_cap(排序)+eps(>0 过滤), unified
+    parquet 两列都能秒级供, 且 eps 与回测同源(LPP 年报 BASIC_EPS)——live 原走
+    miniQMT 最新一期, 双轨本就漂移, 全本地化后 live/回测同口径。"""
+
+    @staticmethod
+    def _unified(rows=None, side_effect=None):
+        m = MagicMock()
+        if side_effect is not None:
+            m.get_fundamentals_df.side_effect = side_effect
+        else:
+            m.get_fundamentals_df.return_value = pd.DataFrame(rows or [])
+        return m
+
+    def test_all_local_fields_delegate_and_never_touch_xt(self, mock_xtquant):
+        """fields=["market_cap","eps"](small_cap 实际形态) → 直接返 unified 结果,
+        xt 全链路(get_financial_data/_ensure_xtdata)一次都不碰。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified([
+            {"code": "600519.XSHG", "market_cap": 3500.0, "eps": 1.2},
+        ])
+        df = provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30", fields=["market_cap", "eps"])
+        assert abs(float(df.iloc[0]["market_cap"]) - 3500.0) < 1e-6
+        mock_xtquant["xtdata"].get_financial_data.assert_not_called()
+        kwargs = provider._unified.get_fundamentals_df.call_args.kwargs
+        assert kwargs["fields"] == ["market_cap", "eps"]
+        assert kwargs["date"] == "2024-09-30"
+
+    def test_fast_path_skips_ensure_xtdata(self, mock_xtquant):
+        """快路连 _ensure_xtdata 都不进(开盘不 import/初始化 xtdata, 也不留
+        download 超时残留线程)。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified([
+            {"code": "600519.XSHG", "market_cap": 3500.0, "eps": 1.2},
+        ])
+        provider._ensure_xtdata = MagicMock(
+            side_effect=AssertionError("快路不得碰 xt"))
+        df = provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30", fields=["market_cap", "eps"])
+        assert len(df) == 1
+
+    def test_circulating_market_cap_also_whitelisted(self, mock_xtquant):
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified([{"code": "600519.XSHG",
+                                            "circulating_market_cap": 9.9}])
+        df = provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30", fields=["circulating_market_cap"])
+        assert "circulating_market_cap" in df.columns
+        mock_xtquant["xtdata"].get_financial_data.assert_not_called()
+
+    def test_unified_failure_falls_back_to_xt_path(self, mock_xtquant):
+        """本地异常 → 回退 xt 老路径(fail-open, 开盘永不因本地读挂死)。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified(side_effect=RuntimeError("parquet io"))
+        df = provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30", fields=["market_cap", "eps"])
+        assert not df.empty
+        mock_xtquant["xtdata"].get_financial_data.assert_called_once()
+        assert 19000 < float(df.iloc[0]["market_cap"]) < 22000  # Capital 原路径
+
+    def test_mixed_fields_stay_on_xt_path(self, mock_xtquant):
+        """fields 含白名单外列(如 roic) → 整组不走快路(不做半本地半 xt 混合)。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified()
+        provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30",
+            fields=["market_cap", "eps", "roic"])
+        mock_xtquant["xtdata"].get_financial_data.assert_called_once()
+        # 快路(整组委托)没触发; Step 3.5 的市值覆盖照旧
+        assert provider._unified.get_fundamentals_df.call_count == 1
+        assert provider._unified.get_fundamentals_df.call_args.kwargs["fields"] == \
+            ["market_cap", "circulating_market_cap"]
+
+    def test_fields_none_stays_on_xt_path(self, mock_xtquant):
+        """fields=None(全列, all_weather 小池形态) → 老路径, 回归护栏。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified()
+        provider.get_fundamentals_df(["600519.XSHG"], date="2024-09-30")
+        mock_xtquant["xtdata"].get_financial_data.assert_called_once()
+
+    def test_none_date_passes_today(self, mock_xtquant):
+        """live date=None(9:30 选股) → 快路委托收到今天, 与 Step 3.5 同口径。"""
+        from datetime import datetime as _dt
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = self._unified([{"code": "600519.XSHG", "eps": 1.0}])
+        provider.get_fundamentals_df(
+            ["600519.XSHG"], date=None, fields=["market_cap", "eps"])
+        kwargs = provider._unified.get_fundamentals_df.call_args.kwargs
+        assert kwargs["date"] == _dt.now().strftime("%Y-%m-%d")
+
+
 class TestGetFundamentalsQueryDictMode:
     def test_dict_with_stocks_returns_dataframe(self, mock_xtquant):
         provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
@@ -342,12 +438,26 @@ class TestGetIndexStocksDelegation:
 class TestGetFundamentalsDfFields:
     """get_fundamentals_df 加 fields 契约(对齐 unified:keep = code + 请求列)。"""
 
-    def test_fields_filters_columns(self, mock_xtquant):
+    def test_fields_filters_columns_local_shortcut(self, mock_xtquant):
+        """fields 全落白名单(market_cap+eps=small_cap 实际形态) → unified 快路,
+        列契约同口径: keep = code + 请求列。"""
         provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        provider._unified = MagicMock()
+        provider._unified.get_fundamentals_df.return_value = pd.DataFrame(
+            [{"code": "600519.XSHG", "market_cap": 3500.0, "eps": 1.2}])
         df = provider.get_fundamentals_df(
             ["600519.XSHG"], date="2024-09-30", fields=["market_cap", "eps"],
         )
         assert list(df.columns) == ["code", "market_cap", "eps"]
+
+    def test_fields_filters_columns_xt_path(self, mock_xtquant):
+        """白名单外列混入(roic) → xt 老路径, 列过滤契约不变。"""
+        provider = SanguoMiniQmtProvider({"mode": "backtest", "auto_download": False})
+        df = provider.get_fundamentals_df(
+            ["600519.XSHG"], date="2024-09-30",
+            fields=["market_cap", "eps", "roic"],
+        )
+        assert list(df.columns) == ["code", "market_cap", "eps", "roic"]
         assert 19000 < float(df.iloc[0]["market_cap"]) < 22000
 
     def test_fields_none_keeps_all_columns(self, mock_xtquant):