红利基金：举起收益的“时间望远镜”

Core Viewpoint - The article emphasizes the importance of dividend low-volatility strategies for investors seeking stable returns without the need for market timing, highlighting the growing demand for investment products that provide a sense of certainty and lower risk exposure [4][6]. Group 1: Investment Strategies - Investors are increasingly looking for dividend funds that offer a high sense of gain, which can outperform cash management tools while minimizing the volatility associated with equity assets [4]. - Among various dividend investment strategies, the dividend low-volatility index has shown to have lower drawdowns and better meet the needs of clients seeking certainty [5][6]. Group 2: Performance Metrics - The article presents a comparison of different dividend indices, showing that the dividend low-volatility index has an annualized return of 18.4% since its inception, with a maximum drawdown of -13.5% and a dividend yield of 4.9% [5]. - The analysis of rolling returns from 2019 onwards indicates that the percentage of positive returns increases with the holding period, reaching 100% for periods of 2 years or more [13][14]. Group 3: Long-term Investment Value - The average return also improves with longer holding periods, with a mean return of 24.65% for 2 years and 38.40% for 3 years, indicating that longer investments yield better outcomes [13]. - The distribution of returns becomes more concentrated in the positive range as the holding period extends, suggesting a more stable long-term investment experience [14]. Group 4: Investor Considerations - Investors are encouraged to set personal "gain thresholds" to determine acceptable levels of positive returns over specific holding periods, which can help in selecting suitable products aligned with their investment goals [17]. - The article suggests that the importance of holding the dividend low-volatility index outweighs the need for market timing, advocating for a long-term investment approach [16].