红利板块走势分化，恒生红利低波ETF（159545）获净申购2100万份

Group 1 - The core indices related to dividend-paying stocks showed mixed performance, with the China Securities Dividend Low Volatility Index up by 0.3%, the China Securities Dividend Index up by 0.2%, and the China Securities Dividend Value Index up by 0.1%. In contrast, the Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index decreased by 0.4% [1][5][7] - The Hang Seng Dividend Low Volatility ETF (159545) experienced a net subscription of 21 million units, reaching a historical high of 4.1 billion yuan in total scale as of yesterday [1][6] - The composition of the indices reflects a focus on stocks with moderate dividend payout ratios, positive growth in earnings per share, high dividend yields, and low volatility, with significant representation from the banking, transportation, and construction industries, which together account for approximately 70% of the A-share market [5][7] Group 2 - The Hang Seng Dividend Low Volatility Index consists of 50 stocks within the Hong Kong Stock Connect that are characterized by good liquidity, continuous dividend payments, moderate dividend payout ratios, and low volatility, with nearly 70% representation from the financial, industrial, and energy sectors [7][8] - The China Securities Dividend Value Index tracks 50 stocks that exhibit high dividend yields and value characteristics, indicating a focus on companies that provide consistent returns to shareholders [9][10]