十年国债ETF（511260）有哪些战略防御价值？

Group 1 - The core viewpoint emphasizes the strategic defensive value of government bond ETFs in asset allocation, highlighting their role as stabilizers in investment portfolios during periods of market uncertainty [1][3] - Government bond ETFs can provide stable expected returns and mitigate short-term risks due to their backing by the central government, making them a safe investment choice [1][3] - The current downward trend in interest rates since 2022 allows investors to achieve capital gains through government bond ETFs, thus countering the impact of declining interest rates on their portfolios [2][3] Group 2 - Institutional investors, particularly pension funds, are increasingly seeking stable income-generating assets in a low-interest-rate environment, and government bond ETFs meet this demand effectively [3][4] - The ten-year government bond serves as a benchmark in the bond market, providing stable coupon income and potential capital gains from future monetary policy easing [4] - Government bond ETFs are characterized by low trading costs, good liquidity, and high transparency, making them ideal tools for implementing equity-bond rotation strategies during economic cycles [2][3]