红利板块逆势走强，红利ETF易方达（515180）、红利低波动ETF（563020）连续“吸金”

Core Viewpoint - The article discusses the performance of Hong Kong stocks under the Stock Connect program, highlighting the high dividend yield and low volatility of certain indices, particularly focusing on the financial, industrial, and energy sectors which account for nearly 70% of the overall performance [4]. Group 1: Index Performance - The Hong Kong Stock Connect high dividend low volatility index has a rolling price-to-earnings (P/E) ratio of 7.0 times, with a slight change of 0.2% [4]. - The China Securities Dividend Value Index, which tracks 50 stocks with high dividend yields and value characteristics, has a rolling P/E ratio of 7.3 times and a change of 0.9% [4]. - The index reflects the overall performance of stocks with high dividend levels and value characteristics, with the banking, coal, and transportation sectors collectively accounting for about 80% of the index [4]. Group 2: Historical Context and Methodology - The China Securities Dividend Index was launched on May 26, 2008, and was adjusted from a market capitalization-weighted index to a different weighting method starting December 16, 2013 [4]. - The China Securities Dividend Low Volatility Index was introduced on December 19, 2013, while the Hang Seng Stock Connect High Dividend Low Volatility Index was launched on May 8, 2017 [4]. - The dividend yield is calculated as the sum of the last 12 months of cash dividends (pre-tax) divided by the market value of the stock [4].