［12月25日］指数估值数据(大盘继续上涨；红利指数涨的少，要换吗；红利指数估值表更新；免费领「财富达人」奖章）

Core Viewpoint - The article discusses the performance and characteristics of dividend index funds, highlighting their relatively stable growth and lower volatility compared to growth-oriented investments. It emphasizes the importance of a long-term investment strategy focused on undervalued assets and dividend accumulation. Group 1: Market Performance - The overall market showed a slight increase, closing at 4.1 stars [1] - Large-cap stocks like the CSI 300 experienced minor gains, while small-cap stocks saw more significant increases [2] - Dividend and value styles also saw slight increases [3] Group 2: Dividend Index Fund Performance - The representative A-share dividend index fund has risen approximately 2% since the beginning of the year, while the Hong Kong dividend low-volatility index fund has increased around 20% [11] - The Shanghai-Hong Kong-Shenzhen dividend low-volatility index fund is positioned between the two markets, with an approximate increase of 12% [11] - This marks the fifth consecutive year of growth for dividend index funds [12] Group 3: Characteristics of Dividend Index Funds - Dividend index funds typically exhibit lower volatility, around 60-70% of the broader market [13] - In bull markets, these funds show less elasticity and more uniform growth compared to growth styles, which can experience dramatic fluctuations [14][15] - Historical performance shows that dividend index funds generally follow a slow bull market trend, with most years showing modest gains [18][19] Group 4: Investment Strategy - The optimal investment strategy for dividend index funds is to buy undervalued assets and hold them for dividend income [24] - The long-term performance of some dividend index funds is strong, but their scale remains small due to less appeal during bull markets [25][26] - Investors often lack the patience to hold funds for 3-5 years, contributing to the smaller scale of dividend index funds [31] Group 5: Valuation Insights - The article includes a valuation table for various dividend indices, providing insights into their earnings yield, price-to-earnings ratio, and dividend yield [32] - The valuation table is updated regularly for investor reference [33]