红利风格性价比凸显，关注红利国企ETF（510720）、现金流ETF（159399）

Core Viewpoint - The Hongli State-owned Enterprise ETF (510720) has risen by 1.41%, continuing its upward trend since October, amidst increasing uncertainty due to tariff conflicts and cautious investor behavior [1]. Market Performance - The market sentiment has declined due to ongoing tariff conflicts, leading to accelerated sector rotation and a more cautious approach from investors [1]. - Recently, sectors such as coal and banking have led the market, while the dividend sector remains relatively strong [1]. Future Outlook - In the short term, the dividend style shows significant value amidst the concentrated reporting period and persistent external uncertainties [1]. - Long-term policies like the new "National Nine Articles" and market capitalization management encourage listed companies to distribute dividends, which is beneficial for state-owned enterprises [1]. - A robust dividend policy can enhance investor returns and help state-owned enterprises gain value recognition and valuation recovery, aligning with the "Chinese Characteristics" value reconstruction [1]. - The combination of the new "National Nine Articles" guidance and declining risk-free yields indicates a high allocation value for dividend assets [1]. - Continuous monitoring of the Hongli State-owned Enterprise ETF (510720) and cash flow ETF (159399) is recommended, as they can be evaluated for dividends monthly [1].