Group 1 - The Hong Kong Dividend ETF (513530) has seen continuous net inflows for 22 trading days since April 24, 2025, reaching new highs in both scale and shares, with a year-to-date increase of over 50% [1] - As of May 28, 2025, the ETF's latest dividend yield is 7.88%, surpassing major A-share dividend indices such as CSI Dividend (6.35%) and Shenzhen Dividend (3.89%), highlighting its investment value [1] - The ETF's latest price-to-book ratio is only 0.63, indicating a combination of high dividends and low valuations, which may provide sustained long-term value for the Hong Kong dividend strategy [1] Group 2 - The Hong Kong Dividend ETF (513530) is the first ETF to invest in Hong Kong stocks through the QDII model, offering a more favorable tax structure compared to traditional channels, potentially reducing dividend tax costs for long-term holders [2] - The fund management company, Huatai-PineBridge Fund, has over 18 years of experience in index investment and has been proactive in the dividend-themed ETF sector since 2006, creating a diverse range of strategies [2] - The two largest dividend-themed ETFs in the A-share market, with scales exceeding 15 billion, are the Dividend ETF (510880) and the Low Volatility Dividend ETF (512890), with respective scales of 20.073 billion and 16.705 billion [2]

Group 1 - The core viewpoint highlights the increasing preference for defensive assets, particularly the Hong Kong dividend low volatility ETF (520550), which has seen continuous net inflows for nine weeks and a nearly 6% increase in fund size year-to-date, reaching a historical peak [3] - The structural differences in high dividend assets between A-shares and Hong Kong stocks are noted, with A-shares concentrated in traditional industries like coal, banking, and textiles, while Hong Kong's high dividend sectors are more diversified, including real estate, public transport, and construction [3] - The defensive nature of dividend assets is emphasized, showing significant excess returns during market downturns, although absolute returns remain positively correlated with overall market trends [3] Group 2 - The Hong Kong dividend low volatility ETF (520550) is designed to optimize investment experience through a low management fee of 0.2%, monthly dividend distribution, and T+0 trading to enhance liquidity [4] - The ETF focuses on mature industry leaders in finance and energy, with strict weight limits on individual stocks to avoid "dividend traps," creating a balanced investment portfolio [4] - Analysts suggest that in the current complex market environment, Hong Kong dividend assets with valuation advantages and dividend certainty may become a key strategic allocation choice, especially as the interconnectivity between mainland and Hong Kong markets deepens [4]