Group 1 - The core viewpoint of the article highlights the increasing popularity of the low-volatility dividend ETF (159547) as a defensive investment amid market fluctuations, with a net inflow of 3.13 million yuan on July 21 and a total of 38.79 million yuan over the past five days [1] - Investors are recognizing the defensive attributes of low-volatility dividend assets, which provide stable cash flow and dividend capabilities, making them a "safe haven" during periods of heightened market volatility [1] - Huatai Securities notes a shift in the market from valuation-driven to fundamental pricing, emphasizing the advantages of low-volatility dividend assets, including policy support for stable investor returns, improved cost-effectiveness compared to government bonds, and strong demand from insurance capital for high-dividend investments [1] Group 2 - The low-volatility dividend ETF (159547) closely tracks the CSI Low Volatility Dividend Index, which selects 50 securities with good liquidity, consistent dividends, high dividend yields, and low volatility, using a dividend yield-weighted approach [1] - The fund has the lowest management fee of 0.15% per year and a custody fee of 0.05% per year, maximizing benefits for investors [1]