现金流ETF（159399）飘红，大盘震荡期红利风格配置性价比凸显

Core Insights - The article highlights the performance of cash flow ETFs (159399), which rose over 0.3% on December 31, indicating a favorable valuation for dividend-style investments during market fluctuations [1] - It suggests that dividend assets are expected to provide better returns relative to volatility in a turbulent market, advocating for a "barbell" strategy that combines dividend and growth investments [1] - Long-term regulatory adjustments and the influx of institutional capital are anticipated to expand the allocation space for insurance funds in equity markets, thereby increasing the marginal demand for dividend assets [1] Market Performance - The FTSE Cash Flow Index, which the cash flow ETF (159399) tracks, has outperformed the CSI Dividend Index and the CSI 300 Index for nine consecutive years from 2016 to 2024 [1] - 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 [1] - Monthly dividend assessments are available for the ETF, making it an attractive option for interested investors [1]