标的指数股息率6.5%！港股通红利低波ETF（520890）年末配置吸引力凸显

Core Viewpoint - The attractiveness of dividend assets is increasingly highlighted as a response to weak domestic demand, with high dividends providing stable cash returns amidst declining overall returns [1][5]. Group 1: Dividend Asset Insights - According to CICC, the essence of allocating dividend assets is to address weak credit expansion and overall return decline, with high dividends serving as a stable cash return asset [1][5]. - The 10-year Chinese government bond yield remains at 1.8%-1.9%, and with increased volatility in the bond market this year, dividend assets still hold allocation value for absolute return funds, particularly from insurance capital [1][5]. Group 2: Performance of Dividend Indices - As of December 3, 2025, the dividend yield of the Hang Seng Stock Connect High Dividend Low Volatility Index has risen to 6.50%, significantly higher than the 1.84% yield of the 10-year government bond, and surpassing several mainstream A-share and Hong Kong dividend indices [1][5]. - The Hang Seng Stock Connect High Dividend Low Volatility Total Return Index has achieved a cumulative increase of 38.70% over the past year, outperforming the China Securities Dividend Total Return Index (8.12%) and the Shenzhen Dividend Total Return Index (10.24%) [1][5]. Group 3: Fund Performance and Management - The Hang Seng Stock Connect Low Dividend ETF (520890) has attracted significant capital inflow, becoming a key option for investors seeking certainty in returns amid market volatility [1][5]. - As of December 3, 2025, the management scale of the "Dividend Family" under Huatai-PB Fund has reached 47.418 billion yuan, showcasing over 19 years of experience in managing dividend-themed index investments [1][5].