指数双双“四连阳” 关注价值ETF（159263）、自由现金流ETF易方达（159222）投资价值

Core Viewpoint - The value style continues to show strong performance, with the Guozheng Value 100 Index rising by 1.3% and over 10% since October, driven by economic recovery expectations and dividend premiums [1] Group 1: Market Performance - The Guozheng Value 100 Index has achieved a four-day consecutive increase, while the Guozheng Free Cash Flow Index rose by 1.1% [1] - The value ETF (159263) has seen net inflows for six consecutive trading days, with an additional net subscription of 35 million units today [1] Group 2: Economic Factors - The recent rise in value style is attributed to economic recovery expectations rather than merely a "high to low" market trend [1] - The current non-manufacturing PMI in China has crossed the threshold, indicating potential benefits for traditional value sectors such as home appliances and banking due to demand recovery [1] Group 3: Investment Characteristics - The value index is characterized by high dividends, low valuations, and strong risk resistance, enhancing its allocation value [1] - The Guozheng Value 100 Index employs a three-dimensional screening system focusing on "high dividends + high free cash flow + low price-to-earnings ratio" to select value stocks, demonstrating stable historical performance [1] Group 4: Sector Focus - The Guozheng Free Cash Flow Index selects based on free cash flow rates, favoring cash-rich value assets, with the top three weighted industries being non-ferrous metals, automobiles, and oil & petrochemicals [1] Group 5: Investment Tools - The value ETF (159263) and the E Fund Free Cash Flow ETF (159222) track the aforementioned indices, providing investors with convenient tools to invest in undervalued quality assets and capitalize on style switching opportunities [1]