Group 1 - The article discusses the concept of "dividend low volatility," emphasizing that it is primarily based on dividends with additional features [1][2] - The performance of different dividend low volatility indices, such as the CSI Dividend Low Volatility Index and the S&P Dividend Low Volatility Index, is analyzed, highlighting the importance of industry balance in investment [3][4] - The article suggests that in bear markets, dividends play a crucial role in providing stability, while in bull markets, the focus may shift to other investment opportunities [5][6] Group 2 - The article mentions that the recent high returns of the National Free Cash Flow Index are partly due to valuation increases, indicating a potential shift in market dynamics [7] - It points out that the quality of dividends is only a partial measure of overall dividend performance, suggesting a need for a more comprehensive evaluation [8]