标普红利ETF(562060)连续5日吸金超4.5亿元！机构：红利资产作为底仓的配置价值凸显

Core Viewpoint - The market experienced a pullback after a brief rally, with dividend-related sectors showing volatility and weakness, particularly in coal, oil, and banking stocks. The S&P Dividend ETF (562060) fell by 1.15%, but there was active repositioning by investors during the dip, leading to a daily trading volume exceeding 74.0684 million yuan [1][14]. Fund Performance and Inflows - The S&P Dividend ETF has seen consistent inflows, with over 450 million yuan net inflow over the last five days as of December 8, 2025. In the past 20 trading days, there were net inflows on 18 days, totaling over 570 million yuan, bringing the fund's total size to a record high of 2.331 billion yuan [3][16]. - The ETF's average daily trading volume over the last 20 trading days reached 59.4083 million yuan, indicating increased trading activity [3][16]. Dividend Index Characteristics - The S&P Dividend ETF tracks the S&P China A-Share Dividend Opportunities Index, focusing on 100 high-dividend companies in the A-share market that exhibit strong profitability, high quality, and relatively low valuations. The current dividend yield of the index is 4.58%, with a spread of 2.71 percentage points over the 10-year government bond yield, enhancing its attractiveness for investment [5][18]. - The S&P A-Share Dividend Index has outperformed similar indices this year, with a return exceeding 11% and an annualized Sharpe ratio of 1.58, showcasing a significant advantage in terms of higher dividends and stronger returns [5][18]. Market Outlook - Short-term market conditions indicate ongoing consolidation, with rapid rotation among sectors. The previously high-performing technology sector is currently in a correction phase, while the high-dividend strategy remains a focal point for investors [6][19]. - Mid-term, new regulations on public fund performance benchmarks may lead to increased allocations towards dividend-paying sectors, which are currently underrepresented in public fund portfolios [6][19]. - Long-term, regulatory changes requiring state-owned insurance companies to allocate 30% of new premiums to A-shares, along with extended assessment periods for these companies, are expected to bolster investments in dividend-focused assets, providing sustained support for the market [6][19]. Comparative Performance of Dividend Indices - Year-to-date performance of various dividend indices shows the S&P A-Share Dividend Index leading with a gain of 11.64%, followed by other indices such as the Dividend Quality Index at 7.84% and the Central Enterprise Dividend Index at 6.40%. The S&P A-Share Dividend Index also boasts a dividend yield of 4.58% [7][20]. Historical Performance of the S&P Dividend ETF - From 2005 to September 2025, the cumulative return of the S&P A-Share Dividend Total Return Index reached 2596.59%, with an annualized return of 17.64%. This product is characterized by its "dividend + small-cap + industry diversification" features, making it a compelling option for investors seeking a balanced portfolio [8][21].