现金流ETF（159399）早盘净流入近4000万份，近20日净流入超7.3亿元，资金逢震荡抢筹防御资产

Group 1 - The core viewpoint of the article emphasizes the increasing interest in cash flow ETFs, particularly ETF 159399, which has seen significant net inflows, indicating strong investor demand for cash flow assets [1] - According to Guoxin Securities, free cash flow is defined as the maximum cash available for distribution to capital providers without affecting the company's ongoing operations, calculated as operating cash flow minus capital expenditures [1] - Companies with stable and sufficient free cash flow not only demonstrate healthy performance metrics but also possess the ability to convert reported profits into freely available cash flow, which is a direct source of dividend capability [1] Group 2 - The cash flow ETF (159399) has outperformed the CSI Dividend Index and the CSI 300 Index for nine consecutive years from 2016 to 2024, highlighting its strong market performance [1] - The underlying index of the cash flow ETF focuses on large and mid-cap stocks, with a higher proportion of central state-owned enterprises compared to similar cash flow indices, and it has consistently evaluated dividends monthly since its launch [1] - The fund has distributed dividends for nine consecutive months, making it an attractive option for investors interested in cash flow [1]