2025年收益率18.95%！“能攻善守”的标普A股红利ETF华宝(562060)标的指数12月月报出炉！

Core Insights - The S&P China A-Share Dividend Opportunity Index has shown a total return of 18.95% year-to-date, with a one-month return of 1.59% and a three-month return of 7.18% [2][14] - The index's annual performance for 2025 is projected at 18.95%, following a trend of positive returns in previous years [3][15] - The index's historical price-to-earnings ratio is 11.75, with an expected ratio of 11.07, indicating a stable valuation environment [4][16] Performance Summary - The total return for the S&P China A-Share Dividend Opportunity Index is 28,306.3 points, with a one-month return of 1.59% and a three-year annualized return of 16.03% [2][14] - The benchmark index, S&P China A 300 Index, has a total return of 22.95% year-to-date, outperforming the dividend opportunity index in the same period [2][14] - The net total return for the benchmark index is 22.62%, indicating strong performance relative to historical averages [2][14] Annual Performance - The annual total returns for the S&P China A-Share Dividend Opportunity Index from 2021 to 2025 are as follows: 23.12% (2021), -3.59% (2022), 14.21% (2023), 14.98% (2024), and 18.95% (2025) [3][15] - The benchmark index has shown more volatility, with a high of 37.28% in 2019 and a low of -19.33% in 2022 [3][15] Valuation Metrics - The historical price-to-earnings ratio stands at 11.75, with a dividend yield of 4.76%, suggesting attractive income potential for investors [4][16] - The market-to-sales ratio is 1.03, indicating a reasonable valuation compared to sales [4][16] Index Composition - The S&P China A-Share Dividend Opportunity Index consists of 100 constituent stocks, with an average market capitalization of CNY 126,639.92 million [6][17] - The largest constituent stock accounts for 2.7% of the index, while the top ten stocks collectively represent 16.3% [6][17] Top Constituents - The top ten constituents include companies from various sectors, such as textiles, electrical equipment, and machinery, indicating a diversified index [7][18] - Notable companies include 002083.SZ (Jiangsu Guotai International Group), 688516.SH (Aotewei), and 601717.SH (Zhongchuangzhiling) [7][18] Industry Distribution - The index is diversified across multiple industries, reflecting a balanced exposure to different sectors of the Chinese economy [19]