Core Viewpoint - The Reducing Volatility Dividend ETF (512890) has seen significant inflows and growth in fund size, driven by the performance of major banks and a favorable investment environment for dividend assets [1][3]. Fund Performance - On July 11, the Reducing Volatility Dividend ETF (512890) closed down 0.89% with a trading volume of 914 million yuan, while the overall weekly performance was up 0.66% with a total trading volume of 2.54 billion yuan [1]. - The fund has attracted over 520 million yuan in net inflows over four consecutive trading days, reaching a record high in fund size of 20.535 billion yuan as of July 10 [1][3]. Market Context - The banking sector continues to rise, with the stock prices of the four major banks breaking previous highs and setting historical records [1]. - Current dividend assets are considered valuable in a declining interest rate environment, with recommendations to focus on stocks with a dividend yield above 3% and low ROE volatility [1][3]. Fund Characteristics - The Reducing Volatility Dividend ETF (512890) was established on December 19, 2018, and has consistently achieved positive returns every full year since its inception, making it one of the few ETFs in the A-share market with such a track record [3]. - As of June 30, the fund ranked first in its category for five-year returns [3]. Holdings Overview - The fund's top holdings include Chengdu Bank, Yagor, and Shanghai Bank, with significant increases in their respective positions [4]. - The total market value of the top holdings amounts to approximately 3.722 billion yuan, representing 25.19% of the fund's net value [4]. Investment Opportunities - There are opportunities for rebound in sectors that have seen declines of over 4% since the beginning of the year, such as refining trade, white goods, and infrastructure [1]. - Financial stocks are transitioning from being undervalued to becoming a dynamic benchmark, with their low volatility and dividend yields exceeding 6% making them a core investment direction [1].