低费率的自由现金流 ETF（159201）震荡走强，近10日吸金超1.15亿元

Core Viewpoint - The A-share market shows a positive trend with the National Free Cash Flow Index rising over 0.8%, indicating strong investor interest in stable cash flow assets [1] Group 1: Market Performance - The three major A-share indices opened high and experienced a strong upward trend [1] - The largest free cash flow ETF (159201) has seen a net inflow of over 115 million yuan in the last 10 trading days, reflecting ongoing investor focus on free cash flow stable assets [1] Group 2: Investment Strategy - Shenwan Hongyuan Securities suggests that free cash flow yield not only considers the actual cash flow situation of companies but also better reflects operational quality and future growth potential [1] - The cash flow-based screening method can capture changes in industry fundamentals more timely, allowing for adjustments in investment portfolios to maintain adaptability in fluctuating market conditions [1] Group 3: Cash Flow Insights - Free cash flow serves as the basis for dividend distribution but emphasizes a company's internal growth capability, while dividend strategies focus on the outcome of dividend distribution [1] - These two strategies typically have complementary industry distributions, and the free cash flow strategy may serve as a foundational tool for balancing growth stock investments, highlighting the importance of monitoring free cash flow ETF (159201) [1]