机构：5月看好红利风格，红利低波100ETF(159307)早盘涨近1%

Core Insights - The market has shown fluctuations since February 2025, influenced by macroeconomic fundamentals and expectations of loose fiscal and monetary policies, leading to a defensive and growth sector rotation strategy [3] - The Hongli Low Volatility 100 ETF closely tracks the CSI Hongli Low Volatility 100 Index, which selects 100 stocks with good liquidity, continuous dividends, high dividend yields, and low volatility [3][4] - The Hongli Low Volatility 100 ETF has seen significant growth in both scale and shares, ranking second among comparable funds in terms of new scale and shares added [3] Market Performance - As of May 7, 2025, the CSI Hongli Low Volatility 100 Index rose by 0.56%, with notable increases in stocks such as Xi'an Bank (3.48%) and China Bank (1.82%) [2] - The Hongli Low Volatility 100 ETF's latest price is reported at 1.03 yuan, with a trading volume of 662.70 million yuan and a turnover rate of 0.74% [2] Fund Flow and Returns - The Hongli Low Volatility 100 ETF experienced a net inflow of 408.05 million yuan recently, accumulating a total of 4,922.78 million yuan over the past 19 trading days [4] - The ETF's net value increased by 5.63% over the past year, ranking first among comparable funds, with a maximum monthly return of 15.11% since inception [4] Risk and Fee Structure - The Hongli Low Volatility 100 ETF has the lowest management fee rate of 0.15% and a custody fee of 0.05% among comparable funds [4] - The maximum drawdown for the ETF this year is 6.18%, which is the smallest among comparable funds [4] Top Holdings - As of April 30, 2025, the top ten weighted stocks in the CSI Hongli Low Volatility 100 Index account for 19.66% of the index, including companies like Jizhong Energy and Daqin Railway [5]