月月分红CP再官宣本月分红！用红利来应对牛市分歧

Core Insights - The cash flow ETF (159399) and the dividend state-owned enterprise ETF (510720) both announced dividends this month, with distribution ratios of 0.25% and 0.3% respectively [1] - The cash flow ETF has distributed dividends 7 times since its inception, while the dividend state-owned enterprise ETF has done so 17 times [1] Group 1: Market Context - Since July, market indices have risen sharply, leading to a bullish sentiment among investors [2] - A study by scholars from Tsinghua University and the London School of Economics revealed that in the 2015 bull market, 85% of retail investors with assets below 500,000 lost a total of 250 billion yuan, with those under 100,000 experiencing a 97% loss rate [3] Group 2: Investment Strategy - Asset allocation remains crucial in a volatile market, with research indicating that funds with higher real returns tend to have lower annual volatility and higher average dividend yields [4] - Despite the bullish market, the investment value of dividend assets should not be overlooked, as they provide a stable return and can serve as a risk hedge [5] Group 3: ETF Performance - The cash flow ETF (159399) tracks the FTSE China A-Share Free Cash Flow Focus Index, selecting the top 50 stocks by cash flow rate, with a market capitalization weight of approximately 70% in stocks over 100 billion yuan [6] - The FTSE cash flow index has shown strong long-term performance, with an annualized return of nearly 20% and a cumulative increase of 660.56% since its base date, significantly outperforming the CSI 300 and the CSI Dividend Index [9] Group 4: Dividend Yield Comparison - The dividend state-owned enterprise ETF (510720) tracks the Shanghai Stock Exchange State-Owned Enterprise Dividend Index, focusing on high-dividend central state-owned enterprises, with a dividend yield of nearly 5% as of August 2025 [11] - A comparison of various indices shows that the Shanghai State-Owned Enterprise Dividend Index has a 12-month dividend yield of 4.39%, outperforming several other indices [13] Group 5: Future Outlook - Investors are encouraged to consider a "barbell" strategy, balancing high-growth technology investments with stable dividend assets to manage risk and seize opportunities [14]