红利低波ETF（512890）近20个交易日逆势吸金15亿元 机构：震荡市中红利资产配置价值凸显

Core Viewpoint - The A-share market experienced an overall adjustment on January 20, with the three major indices opening high and then declining. In this context, the Dividend Low Volatility ETF (512890) rose by 1.05%, closing at 1.156 yuan, with a turnover rate of 1.94% and a transaction volume of 5.20 billion yuan, ranking first among similar ETFs in terms of transaction volume [1][7]. Fund Performance - The Dividend Low Volatility ETF (512890) was established on December 19, 2018, with a benchmark of the CSI Dividend Low Volatility Index return. As of January 19, 2026, it has achieved a total return of 128.72%, outperforming its benchmark, making it a stable tool for asset allocation in a volatile market [5][11]. - The ETF has seen significant net inflows, with 7.7 billion yuan over the last 5 trading days, 15.2 billion yuan over the last 20 days, and 32.1 billion yuan over the last 60 days. As of January 19, 2026, its circulating scale was 266.61 billion yuan [2][8]. Market Context - The cash dividend scale of A-share listed companies is expected to reach a record high of 2.55 trillion yuan in 2025, a year-on-year increase, which is twice the total amount of IPOs and refinancing during the same period, indicating a significant enhancement in dividend return capabilities [4][10]. - Investment in traditional sectors remains under pressure, with construction, real estate, and manufacturing showing varying year-on-year growth rates of -2.2%, -17.2%, and +0.6%, respectively. The market is expected to stabilize gradually due to real estate policies [4][11].