市场回调红利资产受宠！现金流ETF（159399）逆势涨1.28%，实现月月分红

Core Viewpoint - The cash flow ETF (159399) is gaining traction in the market due to its focus on high dividend and low volatility assets, effectively hedging against cyclical sector fluctuations [3][5]. Group 1: Cash Flow ETF Performance - As of the latest update, the cash flow ETF (159399) has increased by 1.28%, with a trading volume exceeding 240 million yuan, and its constituent stock Zhuhai Heavy Industry has quickly reached the daily limit [1]. - The cash flow ETF closely tracks the FTSE China A-Share Free Cash Flow Focus Index, excluding banks and real estate, and covers sectors such as oil, coal, home appliances, and food and beverages [3]. - Since its establishment on February 19, 2025, the cash flow ETF has implemented four consecutive dividends, providing a stable cash flow source for long-term investors [3]. Group 2: Historical Performance Comparison - From April 9, 2025, to July 2, 2025, the FTSE China A-Share Free Cash Flow Focus Index has risen by 10.55%, outperforming the CSI 300 Index, which increased by 8.08%, and the CSI Dividend Index, which rose by 4.32% [4]. - The cash flow ETF demonstrates superior risk-return characteristics and resilience against market downturns compared to its peers [3][4]. Group 3: Market Context and Investment Appeal - In the current market environment characterized by rapid sector rotation, dividend cash flow assets are favored by large capital due to their ability to stabilize portfolio volatility [5]. - The cash flow ETF's holdings focus on large and mid-cap stocks, with a higher proportion of central state-owned enterprises compared to similar cash flow indices, indicating a higher safety margin [5]. - The demand for defensive assets is expected to rise as the domestic economy stabilizes and overseas liquidity shifts towards a more accommodative stance, benefiting sectors with stable cash flow attributes [4].