| 数 | | --- | 据来源：Wind 截止日期：2025年12月29日 12月29日，A股三大指数涨跌互现。沪指小幅收涨，实现"九连阳"；创业板指盘中一度下跌超过1%。在 此背景下，红利低波（512890）收盘上涨0.09%，报1.176元，换手率为2.14%，成交额5.70亿元，居同 类标的ETF首位。 最新公告显示，红利低波ETF（512890）十大重仓股涨跌不一，中粮糖业、南钢股份、成都银行、大秦 铁路、南京银行、兴业银行、农业银行、建设银行、中信银行、四川路桥，持仓占比如下： | 重多特股 (2025-09-30) | | | | | | | --- | --- | --- | --- | --- | --- | | 股票名称 | 持仓市值(元) | 持仓数量 | 相对上期增减 | 占股票市值比 | 占基金净值比 | | 中根糖业(D | 695,289,225.95 | 43.591.801 : | | 3.47% : | 3.45% | | 南钢股份1 | 570,069,953.25 | 108,584,753 | | 2.85% | 2.83% | | 成都银行 | 567.817.8 ...

Core Viewpoint - The A-share market experienced a collective decline, with the ChiNext index dropping over 2%, while the Dividend Low Volatility ETF (512890) rose by 0.58%, indicating its resilience in a bearish market environment [1][2]. Fund Performance - The Dividend Low Volatility ETF (512890) achieved a price of 1.224 yuan with a trading volume of 3.62 billion yuan, leading its category in terms of trading activity [1][2]. - Over the past five trading days, the ETF saw a net inflow of 570 million yuan, with a total of 4.02 billion yuan over the last 20 days and 3.38 billion yuan over the last 60 days, highlighting strong investor interest [2][4]. - The fund has maintained positive returns for six consecutive years from 2019 to 2024, establishing itself as the only stock ETF in the A-share market to achieve this milestone [2][4]. Holdings and Sector Focus - The top ten holdings of the Dividend Low Volatility ETF mostly saw price increases, with notable performances from COFCO Sugar and Chengdu Bank [4]. - The ETF's holdings include significant positions in major banks, reflecting a strategy focused on stable dividend-paying stocks [4]. Market Outlook - Huatai Securities recommends a "barbell" investment strategy, suggesting that market focus will shift towards next year's profit expectations following the third-quarter reports [5]. - The advanced manufacturing sector is currently in a proactive inventory replenishment phase, with potential investment opportunities in technology and dividend assets [5]. - Guosen Securities anticipates rapid rotation of market hotspots, with structural highlights emerging from the third-quarter reports, indicating a resilient market outlook [5].