资金或向防御板块切换，现金流ETF（159399）获大幅资金申购，连续9个月分红

Core Viewpoint - In the fourth quarter, defensive dividend funds are gaining popularity among investors, with the Cash Flow ETF (159399) attracting over 260 million yuan in five consecutive days, bringing its current scale to nearly 4 billion yuan [1] Group 1: Market Trends - The Shanghai Composite Index is at historical highs, leading to significant profit-taking pressure, while overseas market risks are increasing volatility, causing a decline in equity risk appetite [1] - The dividend sector is expected to become a preferred choice for funds as investors seek defensive strategies and policy dividends towards the year-end [1] Group 2: Cash Flow ETF (159399) Details - The Cash Flow ETF (159399) utilizes free cash flow as a stock selection factor and closely tracks the FTSE China A-Share Free Cash Flow Focus Index, excluding financial and real estate sectors [1] - It selects the top 50 stocks with the highest free cash flow rates, identifying "cash cow" companies in the A-share market, which lays a solid foundation for long-term investment returns [1] - The ETF has been consistently distributing dividends monthly since its launch, with a total of nine consecutive months of dividends by November 2025 [1]