防御板块重拾涨势，节前止盈避险情绪浓厚，A500红利低波ETF（561680）的投资机会受关注

Core Viewpoint - The China Securities A500 Dividend Low Volatility Index (932422) has shown positive performance, with notable increases in several constituent stocks, indicating a favorable market sentiment towards low volatility and dividend-paying stocks [1][2]. Group 1: Index Performance - As of September 26, 2025, the China Securities A500 Dividend Low Volatility Index increased by 0.45%, with key stocks such as Baosteel Co., Ltd. (600019) rising by 3.09% and Sun Paper Industry Co., Ltd. (002078) by 2.90% [1]. - The China Securities A500 Dividend Low Volatility ETF (561680) also saw an increase of 0.41%, with the latest price at 0.98 yuan [1]. Group 2: Liquidity and Trading Volume - The trading volume for the China Securities A500 Dividend Low Volatility ETF was 399.91 million yuan, with a turnover rate of 0.8% during the session [1]. - Over the past year, the ETF has maintained an average daily trading volume of 37.94 million yuan, ranking first among comparable funds [1]. Group 3: Fund Flows and Tracking Accuracy - The latest net outflow for the China Securities A500 Dividend Low Volatility ETF was 4.86 million yuan, but it attracted a total of 28.76 million yuan over the last ten trading days [2]. - The ETF has the highest tracking accuracy among comparable funds, with a tracking error of only 0.149% year-to-date [2]. Group 4: Valuation Metrics - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the ETF is 9.76 times, placing it in the 11.29% percentile over the past year, indicating that it is undervalued compared to 88.71% of the time in the last year [2]. Group 5: Top Holdings - As of August 29, 2025, the top ten weighted stocks in the China Securities A500 Dividend Low Volatility Index accounted for 31.13% of the index, with Agricultural Bank of China (601288) being the largest holding [3]. - The top ten stocks include major banks and companies, reflecting a focus on stable, dividend-paying entities [3][4].