市场风格“高切低”，低估资产有望受益，关注价值ETF易方达（159263）配置价值

Group 1 - The market experienced fluctuations on January 20, with growth sectors that had performed well earlier in the month undergoing a general pullback, while sectors such as banking, home appliances, and chemicals showed resilience, indicating a "high cut low" characteristic [1] - The National Value 100 Index rose by 1.0% at the close, with the value ETF E Fund (159263) seeing a net subscription of 15 million units today [1] - Market analysis suggests that after a prior increase in the technology growth sector, there is significant profit-taking pressure, while value assets that had previously lagged are expected to have greater upward potential, especially considering the calendar effect where value styles typically perform better before the Spring Festival [1] Group 2 - The National Value 100 Index focuses on deep value, utilizing a screening system based on "high dividends + high free cash flow + low PE" to select core value stocks in the market, with the top three industries being banking, home appliances, and transportation, collectively accounting for nearly 50% [1] - Since its launch in 2012, the index has achieved an annualized return of over 12% [1] - The E Fund (159263) is currently the only ETF tracking this index, providing investors with a means to easily invest in undervalued quality assets in the market [1]