关注红利国企ETF（510720）投资机会，红利风格超额收益有望再起

Group 1 - The core viewpoint indicates that the dividend style may see a resurgence, particularly in the second half of the year, while growth style is expected to dominate in the first half of 2026 [1] - Short-term, insurance funds are likely to benefit from the "opening red" effect, leading to significant net inflows in January, which may support dividend assets [1] - The Red Chip ETF (510720) tracks the National Dividend Index (000151), focusing on high-dividend and stable dividend-paying companies across sectors like banking, coal, and transportation [1] Group 2 - The dividend style is anticipated to regain strength in the second half of the year as growth sectors face pressure, with a potential delay in the positive PPI turning point affecting bond yields [1] - The Red Chip ETF has consistently distributed dividends for 20 consecutive months, reflecting its commitment to high dividend-paying companies [1]