风格切换继续，平安上红低波指数A（020456）备受关注

Core Insights - The article highlights the performance and characteristics of the Ping An SSE Dividend Low Volatility Index A (020456), noting its recent gains and strong fund inflows, indicating investor confidence in low volatility strategies [1][2]. Performance Summary - As of October 15, 2025, the Ping An SSE Dividend Low Volatility Index A has achieved a maximum monthly return of 11.16% since its inception, with an average monthly return of 3.53% and a monthly profit probability of 55% [2]. - The index has outperformed its benchmark with an annualized excess return of 5.53% over the past six months, ranking in the top half of comparable funds [2]. - The maximum drawdown over the past year is 6.70%, which is lower than the benchmark's drawdown of 0.98%, indicating lower risk compared to peers [2]. Fund Inflows and Financing - The Ping An SSE Dividend Low Volatility Index has seen significant capital inflows, with a total of 252.92 billion yuan in net purchases over the last five trading days, reflecting strong investor interest [1]. - The financing balance for the index reached 999.65 billion yuan as of October 15, 2025, with a net financing purchase of 10.74 billion yuan over the past month [1]. Fund Characteristics - The fund has a management fee rate of 0.50% and a custody fee rate of 0.10%, totaling a fee rate of 0.60% [4]. - The fund closely tracks the SSE Dividend Low Volatility Index, which selects 50 securities based on liquidity, dividend payment history, and low volatility, aiming to minimize tracking error [4]. Top Holdings - As of June 30, 2025, the top ten holdings of the Ping An SSE Dividend Low Volatility Index A include COSCO Shipping Holdings, Chengdu Bank, and Industrial Bank, with the top ten stocks accounting for 17.41% of the total portfolio [4][6].