红利低波ETF（512890）：震荡市中的“稳稳幸福”，年内回报超4%强势尽显！

Core Viewpoint - The A-share market has experienced fluctuations in 2023, with the Shanghai Composite Index rising by 1.43% and the ChiNext Index declining by 3.75% as of June 9, 2023. However, the dividend low-volatility strategy has shown resilience, with the CSI Dividend Low Volatility Index rising over 2.84% year-to-date, and the flagship Dividend Low Volatility ETF (512890) returning 4.16% in the same period, providing a stable investment option in a volatile market [1][3][7]. Group 1: Policy Support - The Chinese government has emphasized attracting more "patient capital" and long-term investments, aligning with the core principles of the dividend low-volatility strategy, which focuses on stable earnings and high dividends from quality companies [3]. - The policy signals encourage value investing, reinforcing the underlying logic of the dividend low-volatility strategy [3]. Group 2: Market Dynamics - Increased risk aversion among investors has led to a significant inflow into the Dividend Low Volatility ETF, with its cumulative circulation scale increasing by 40.47 billion, surpassing 174.46 billion, marking a historical high [4]. - The ETF serves as a "safe haven" for investors seeking certainty in returns amid market volatility [4]. Group 3: Investment Appeal - In the context of declining bank wealth management yields and deposit rates, high-quality income-generating assets have become increasingly valuable, with the average dividend yield of the dividend low-volatility index significantly exceeding that of ten-year government bonds and mainstream wealth management products [5]. - The Dividend Low Volatility ETF (512890) is designed to select companies with consistent dividends and stable earnings, providing substantial cash returns to shareholders [6]. Group 4: Performance and Strategy - Historical data indicates that the CSI Dividend Low Volatility Index has outperformed the market over the long term, demonstrating strong resilience during bear and volatile markets, characterized by smaller declines and competitive rebounds [6]. - The ETF offers a low-cost, efficient way to invest in a diversified portfolio of 30-50 high-dividend, low-volatility core assets, reducing individual stock risk [6]. Group 5: Current Market Position - The current valuation of A-shares is at a historical low, and while economic recovery may require patience, there are signs of improvement. The dividend low-volatility assets provide a dual advantage of high dividends and low volatility, making them a cornerstone for investment portfolios amid market uncertainties [7].