红利板块午后拉升小幅翻红，红利ETF易方达（515180）和红利低波动ETF（563020）月内净流入均超5亿元

Core Viewpoint - The dividend sector saw a slight rebound in the afternoon, with the CSI Dividend Index rising by 0.3%, the CSI Dividend Value Index by 0.2%, and the CSI Dividend Low Volatility Index by 0.1% [1]. Fund Performance - The E Fund Dividend ETF (515180) and the Dividend Low Volatility ETF (563020) experienced a net inflow of over 500 million yuan each within the month [1]. - E Fund is currently the only fund company that implements low fee rates for all its dividend ETFs, with a management fee rate of 0.15% per year for its products [1]. Index Composition - The CSI Dividend Index consists of 100 stocks with high cash dividend yields and stable performance, with the banking, coal, and transportation sectors accounting for nearly 55% of the index [3]. - The CSI Dividend Low Volatility Index is composed of 50 stocks that exhibit good liquidity, continuous dividends, moderate dividend payout ratios, and low volatility, with the banking, transportation, and construction sectors making up over 65% of the index [3]. - The Hang Seng Dividend Low Volatility ETF tracks an index made up of 50 stocks within the Hong Kong Stock Connect that have good liquidity and continuous dividends, reflecting high dividend levels and low volatility [3]. Valuation Metrics - The rolling price-to-earnings ratio for the CSI Dividend Index is 8.3 times, with a valuation percentile of 70% [3]. - The rolling price-to-earnings ratio for the CSI Dividend Low Volatility Index is also 8.3 times, with a valuation percentile of 75.4% [3]. - The rolling price-to-earnings ratio for the CSI Dividend Value Index is 7.7 times, with a valuation percentile of 73% [4].