MACD金叉信号形成，这些股涨势不错！ 责任编辑：宋雅芳 "同以心城旧退·地尼灯!" 跟踪标普港股通低波红利指数 - 联接A 022887 截至25/11/26 近1周 (近1月) 近1年 (近1年) 指数涨跌幅 年化波动率 指數液跌幅 指数涨跌幅 指数涨跌幅 -0.99% 0.03% 1.85% 33.57% 12.64% (VS) 上证指数 上证指数 上证指数 上证指数 上证指数 -0.15% -1.70% -3.32% 18.54% 12.05% 4.18% A500红利低波ETF 159296 · 行业均衡·双因子攻守兼备 · -跟踪中证A500红利低波动指数- (近1月) 载至25/11/26 近1周 (近1年 近1年 指数涨跌幅 指數涨跌幅 指数涨跌幅 指数涨跌幅 年化波动率 -0.46% -1.96% -0.96% 7.47% 9.93% (US) 上证指数 上证指数 上证指数 上证指数 上证指数 -3.32% 18.54% 12.05% -0.15% -1.70% 黄色 00 点击 4.14% 800红利低波ETF 159355 * 聚焦大中盘·季季可评估分红* * 跟踪中证800红利低波动指 ...

Core Insights - The China A500 Dividend Low Volatility Index (932422) has shown a slight increase of 0.14% as of November 14, 2025, with notable gains in major banks such as Bank of China (601988) up by 2.26% and Industrial and Commercial Bank of China (601398) up by 2.07% [1] Investment Environment - The National Bureau of Statistics emphasizes the need to focus on high-quality development, optimize investment structure, and enhance the investment environment to stimulate private investment and promote healthy investment growth [1] - According to Zhongtai Securities, the investment logic for bank stocks is shifting from "pro-cyclical" to "weak-cyclical," making high-dividend bank stocks more attractive during economic stagnation [1] - With the M1 growth rate declining, major financial data has entered a downward cycle, attributed to weaker fiscal expansion and the fading of low base effects [1] ETF Performance - The China A500 Dividend Low Volatility ETF (561680) has a turnover rate of 1.8% and a transaction volume of 3.36 million yuan as of November 14, 2025 [2] - Since its inception, the ETF has recorded a maximum monthly return of 3.37% and an average monthly return rate of 3.37%, with a monthly profit probability of 78.57% [2] - The maximum drawdown since inception is 3.42%, with a recovery period of 30 days [2] Index Composition - As of October 31, 2025, the top ten weighted stocks in the China A500 Dividend Low Volatility Index account for 31.82% of the index, including Agricultural Bank of China (601288) and China Shenhua Energy (601088) [3] - The top ten stocks include major banks and companies, indicating a strong representation of the financial sector within the index [3][5]

Group 1 - High dividend assets such as banks, coal, and insurance stocks showed strong performance in the morning session, with the CSI Dividend Low Volatility Index rising by 1.2%, the CSI Dividend Value Index increasing by 1.0%, and the CSI Dividend Index up by 0.7% as of midday close [1][5] - The composition of stocks with moderate dividend payout ratios, positive growth in earnings per share, high dividend yields, and low volatility reflects the overall performance of A-share listed companies, with the banking, transportation, and construction decoration sectors accounting for over 65% [5] - The Hang Seng High Dividend Low Volatility Index, which tracks 50 liquid stocks within the Hong Kong Stock Connect that have a history of continuous dividends and moderate payout ratios, saw an increase of 0.6% as of midday close, with financial, industrial, and energy sectors making up over 65% [7]

Group 1 - The technology sector indices are currently facing top risks, which will directly impact the performance of the CSI 300 index [1] - Relatively safer assets such as dividend stocks, liquor consumption, and pharmaceuticals are expected to perform better during market adjustments [1] - The Hang Seng Technology index is experiencing increased volatility, but overall support remains, making it suitable for long-term holding [1] Group 2 - A portfolio allocation of 20% in dividend stocks and 10% to 20% in cash can mitigate concerns over market adjustments [2] - Once technology stocks reach a bottom, the plan is to sell low-volatility dividend stocks and cash to invest in technology stock funds [3] Group 3 - High exposure to the Hang Seng Technology, CSI 300, and securities requires careful position management, with recommendations to reduce holdings to manageable levels [4] - Holdings in pharmaceuticals and consumer sectors are expected to perform well in the near future, with a cautionary note on the risks primarily residing in the technology sector [5] Group 4 - The biggest risk currently stems from geopolitical issues, particularly related to Taiwan, suggesting that maintaining 10% to 30% liquidity is advisable to respond to sudden market events [6] - The 5G sector is showing potential head-and-shoulders patterns, indicating possible market reversals [8] - The chip sector has broken below trend lines, which may confirm a top formation [10] - The artificial intelligence sector is also exhibiting potential head-and-shoulders patterns [12]

Group 1 - The core indices related to dividends showed mixed performance, with the CSI Dividend Low Volatility Index rising by 0.3%, the CSI Dividend Value Index increasing by 0.2%, and the CSI Dividend Index up by 0.04%. However, the Hang Seng High Dividend Low Volatility Index declined by 0.8% [1] - The E Fund Dividend ETF (515180) experienced a net inflow of over 600 million yuan in the last five trading days, bringing its total size to over 10 billion yuan [1] - The Dividend Low Volatility ETF (563020) has attracted a total of 16 million yuan over the past ten consecutive trading days [1]

Core Insights - The article highlights the performance and characteristics of the Ping An SSE Dividend Low Volatility Index A (020456), noting its recent gains and strong fund inflows, indicating investor confidence in low volatility strategies [1][2]. Performance Summary - As of October 15, 2025, the Ping An SSE Dividend Low Volatility Index A has achieved a maximum monthly return of 11.16% since its inception, with an average monthly return of 3.53% and a monthly profit probability of 55% [2]. - The index has outperformed its benchmark with an annualized excess return of 5.53% over the past six months, ranking in the top half of comparable funds [2]. - The maximum drawdown over the past year is 6.70%, which is lower than the benchmark's drawdown of 0.98%, indicating lower risk compared to peers [2]. Fund Inflows and Financing - The Ping An SSE Dividend Low Volatility Index has seen significant capital inflows, with a total of 252.92 billion yuan in net purchases over the last five trading days, reflecting strong investor interest [1]. - The financing balance for the index reached 999.65 billion yuan as of October 15, 2025, with a net financing purchase of 10.74 billion yuan over the past month [1]. Fund Characteristics - The fund has a management fee rate of 0.50% and a custody fee rate of 0.10%, totaling a fee rate of 0.60% [4]. - The fund closely tracks the SSE Dividend Low Volatility Index, which selects 50 securities based on liquidity, dividend payment history, and low volatility, aiming to minimize tracking error [4]. Top Holdings - As of June 30, 2025, the top ten holdings of the Ping An SSE Dividend Low Volatility Index A include COSCO Shipping Holdings, Chengdu Bank, and Industrial Bank, with the top ten stocks accounting for 17.41% of the total portfolio [4][6].

Core Insights - The China Securities A500 Dividend Low Volatility Index (932422) experienced a slight decline of 0.08% as of October 15, 2025, with mixed performance among constituent stocks [1] - The index's ETF (561680) showed a recent price of 1 yuan, with a weekly increase of 2.67%, ranking in the top third among comparable funds [1] - The ETF's trading volume was notable, with an average daily transaction of 34.18 million yuan over the past week, leading among comparable funds [1] Performance Summary - Leading stocks included Agricultural Bank of China (601288) up by 1.82%, Conch Cement (600585) up by 1.63%, and Sun Paper (002078) up by 1.54% [1] - The largest declines were seen in TBEA Co., Ltd. (600089) down by 5.18%, Hikvision (002415) down by 1.74%, and China Nuclear Power (601985) down by 1.41% [1] Liquidity and Drawdown - The ETF's turnover rate was 1.04%, with total transactions amounting to 4.1664 million yuan [1] - The maximum drawdown since the ETF's inception was 3.42%, with a relative benchmark drawdown of 0.23% [1] Fee Structure - The management fee for the ETF is set at 0.50%, while the custody fee is 0.10% [1] Tracking Accuracy and Valuation - The ETF achieved a tracking error of 0.034% over the past month, the highest among comparable funds [2] - The underlying index is currently valued at a historical low with a price-to-book (PB) ratio of 1.01, below 82.31% of the time over the past year, indicating strong valuation appeal [2] Index Composition - The index comprises 50 stocks selected from the China Securities A500 Index, focusing on those with consistent dividends, high dividend yields, and low volatility [2] - As of September 30, 2025, the top ten weighted stocks accounted for 30.72% of the index, including Agricultural Bank of China (601288), Yageo (600177), and China Shenhua (601088) [2]

Core Insights - The Ping An SSE Dividend Low Volatility Index A (020456) has shown strong performance with a 1.54% increase as of October 14, 2025, and a significant net inflow of funds totaling 12.309 billion yuan over three days [1][2]. Fund Performance - As of October 13, 2025, the unit net value of the Ping An SSE Dividend Low Volatility Index A is 1.08 yuan, reflecting a 0.47% increase from the previous trading day and a 7.21% increase over the past year, ranking it in the top half of comparable funds [1][2]. - The fund has a maximum drawdown of 6.70% over the past year, which is the smallest among comparable funds, with a relative benchmark drawdown of 0.98% [2]. Fund Management and Fees - The fund has a management fee rate of 0.50% and a custody fee rate of 0.10%, totaling a fee rate of 0.60% [2]. Investment Strategy - The Ping An SSE Dividend Low Volatility Index A closely tracks the SSE Dividend Low Volatility Index, which selects 50 securities based on liquidity, continuous dividends, moderate dividend payout ratios, positive growth in earnings per share, and high dividend yields with low volatility [3]. Top Holdings - As of June 30, 2025, the top ten holdings of the fund include China COSCO Shipping, Chengdu Bank, Industrial Bank, Sichuan Road and Bridge, and Daqin Railway, with the top ten stocks accounting for a total weight of 17.41% [3][5].

Core Viewpoint - The China Securities A500 Dividend Low Volatility Index (932422) has shown a slight decline of 0.47% as of September 16, 2025, with mixed performance among its constituent stocks [2]. Group 1: Index Performance - The China Securities A500 Dividend Low Volatility ETF (561680) decreased by 0.40%, with the latest price at 0.99 yuan [2]. - The index's one-year average daily trading volume is 66.88 million yuan, indicating a healthy trading activity [2]. - The ETF has experienced a significant growth in scale, increasing by 15.21 million yuan over the past week, ranking in the top third among comparable funds [2]. Group 2: Fund Metrics - The ETF's management fee is 0.50%, and the custody fee is 0.10% [3]. - The tracking error for the ETF year-to-date is 0.207%, the highest precision among comparable funds [3]. - The index's valuation is at a historical low, with a price-to-book ratio (PB) of 1.02, below 83.48% of the time over the past year, indicating strong valuation attractiveness [3]. Group 3: Top Holdings - As of August 29, 2025, the top ten weighted stocks in the index account for 31.13% of the total index weight, including Agricultural Bank of China (601288) and Gree Electric Appliances (000651) [4]. - The performance of the top ten holdings shows mixed results, with Agricultural Bank of China declining by 1.12% and Gree Electric Appliances down by 0.83% [6].

Group 1 - The Huabao CSI A500 Dividend Low Volatility ETF (159296) will be available for subscription from August 18 to August 29, 2025, with a maximum initial fundraising scale of 3 billion yuan [1] - The fund is managed by Huabao Fund, with Hu Yijiang serving as the fund manager [1] - The performance benchmark for the fund is the return rate of the CSI A500 Dividend Low Volatility Index [1]