Group 1 - The market has returned to a volatile pattern, but the dividend low volatility index, represented by the dividend low volatility ETF (512890), shows strong resilience [1] - As of June 26, 2025, the dividend low volatility ETF (512890) has achieved a cumulative increase of 10.43% over the past year and an annualized return of 9.71% over the past five years, outperforming other indices [1] - The dividend low volatility ETF (512890) has consistently generated positive returns annually since its establishment at the end of 2018, making it a unique performer in the A-share market [1] Group 2 - A total of 350 A-share companies are expected to distribute dividends amounting to 205 billion yuan this week, indicating a peak period for dividend distributions [2] - The dividend low volatility ETF (512890) has seen significant inflows, with a total of 1.382 billion yuan accumulated in 18 trading days, leading to a fund size increase of 2.143 billion yuan [1][2] - The fund has reached a historical high in size of 19.094 billion yuan as of June 26, 2025, following seven consecutive trading days of growth [1] Group 3 - Huatai-PineBridge has developed a range of dividend-themed ETFs, including the first dividend ETF (510880) and the first QDII mode ETF for high dividends in Hong Kong stocks (513530), managing a total of 41.6 billion yuan in assets [3] - The Huatai-PineBridge dividend low volatility ETF connection fund has over 829,800 holders, making it one of the most favored dividend-themed index funds among retail investors [2][3]

Core Viewpoint - The market is experiencing a decline in major stock indices due to ongoing geopolitical disturbances affecting risk appetite, which is driving investment towards low-volatility dividend ETFs, particularly the Reducing Volatility Dividend ETF (512890) [1] Group 1: Market Performance - As of June 16, 2025, the Reducing Volatility Dividend ETF (512890) has attracted a total of 1.089 billion yuan in net inflows over 15 trading days, with 12 days of positive inflow [1] - The fund's scale reached 17.737 billion yuan, with an increase of 2.838 billion units and 3.987 billion yuan in size since its launch [1] Group 2: Dividend Distribution - By June 16, 2025, 1,950 A-share listed companies had completed their dividend plans for 2024, with an additional 416 companies announcing their annual equity distribution [1] - Historically, the period from May to July is a peak time for dividend distributions among A-share companies, indicating a potential increase in focus on dividend assets [1] Group 3: ETF Characteristics - The Reducing Volatility Dividend ETF (512890) tracks an index comprising 50 stocks known for continuous dividends, high dividend yields, and low volatility [1] - The index has shown a 13.8% annualized growth since May 2025, reaching a high point since its base date of December 30, 2005 [1] Group 4: Fundholder Engagement - As of the end of 2024, the connecting funds of the Reducing Volatility Dividend ETF (512890) had 829,800 holders, making it one of the few dividend-themed index funds with over 800,000 holders [1] - The fund has consistently paid monthly dividends for 21 consecutive months, with its Y share (022951) being the first index fund eligible for personal pension investments [1] Group 5: Fund Management - Huatai-PineBridge has developed a range of five dividend-themed ETFs, including the first dividend ETF (510880) and a QDII model ETF (513530) for high-dividend Hong Kong stocks [1] - As of June 16, 2025, the total management scale of Huatai-PineBridge's dividend-themed ETFs exceeded 40.3 billion yuan [1]

Core Insights - The shift in market style has led to increased attention on dividend assets, particularly the low volatility dividend ETF, which has attracted significant capital inflow recently [1][2] - The first billion-level low volatility dividend ETF, the Dividend Low Volatility ETF (512890), has seen continuous net inflows for six trading days since May 28, with a peak single-day net inflow of 598 million yuan on June 5, marking a year-to-date high [1] - As of June 5, the fund's shares and scale have reached historical highs, with 15.213 billion shares and 17.722 billion yuan, and a year-to-date share growth of 2.951 billion, making it the only dividend-themed ETF in the market with such growth [1][2] Fund Performance - The Dividend Low Volatility Index has a one-year dividend yield of 6.32%, outperforming 90.2% of the past decade, with a TTM price-to-earnings ratio of 7.81, providing a competitive edge over other mainstream dividend indices in A-shares [2] - The associated funds of the Dividend Low Volatility ETF have also gained popularity among off-exchange investors, with the total number of holders reaching 829,800 by the end of 2024, making it the only dividend-themed index fund with over 800,000 holders during that period [2] Management Expertise - Huatai-PB, one of the first ETF managers in China, has over 18 years of experience in dividend index investment, having developed a diverse range of five "dividend family" strategies, including the first dividend-themed ETF and the first QDII mode high-dividend ETF [2]

Core Viewpoint - The article presents a scoring system for the Dividend Low Volatility Index, which ranges from 0 to 10, where lower scores indicate undervaluation and higher scores indicate overvaluation [2][3]. Scoring System Summary - A score of 3 or below indicates undervaluation, representing a rare buying opportunity when prices fall below their intrinsic value [2][4]. - A score between 3 and 7 is considered a reasonable valuation, where prices align with their intrinsic value, allowing for fluctuations within this range [2][3]. - A score above 7 indicates overvaluation, suggesting that prices exceed their reasonable value, but this does not guarantee an immediate price drop [3][6]. Investment Strategy - When the score is below 3, the recommendation is to invest fully, as such opportunities are infrequent, typically occurring 1-2 times a year over the past 20 years [4]. - For scores between 3 and 7, a monthly dollar-cost averaging strategy is suggested, where investments are divided into portions and invested monthly [4][5]. - If the score exceeds 7, it is advised to stop investing and consider holding the investment long-term, with selling only considered when the score exceeds 9 [6]. Additional Considerations - Concerns about investing during prolonged periods of high scores (6-7) can be mitigated by adjusting the investment strategy to lower score thresholds or increasing the number of investment portions [5][6]. - The article emphasizes the importance of personal responsibility in investment decisions, allowing for individual adaptations of the proposed scoring system [6]. Fund Allocation Concept - The article briefly mentions the Snowball Three-Point Method, which focuses on long-term investment and asset allocation through diversification across assets, markets, and timing to achieve diversified investment returns and risk mitigation [7].