Group 1 - The market experienced fluctuations and a decline on January 7, with the CSI Dividend Quality ETF (159209) dropping by 0.40% as of 10:27 AM, indicating a clear intention for low-level capital allocation, with nearly 4 million net inflow during the day, marking 16 consecutive days of net inflow for the fund [1] - The ETF features a fee structure of "0.15% + 0.05%", which is the lowest in the market, providing a significant long-term cost advantage. Its monthly dividend assessment mechanism better meets investors' needs for regular cash flow, enhancing the holding experience [2] - The continuous pursuit of funds is attributed to the significant evolution of its strategy. The fund tracks the CSI Dividend Quality Index, which does not merely seek high dividend yields but integrates "high dividend" and "high quality" factors for rigorous selection. It emphasizes stable dividend capabilities while focusing on profitability, financial stability, and long-term growth potential, aiming to select the best from various industries, aligning with the philosophy of "buying great companies at reasonable prices" [4]

在产品设计上，该ETF采用 "0.15%+0.05%" 的全市场最低档费率结构，长期持有成本优势明显。同时， 其月度评估分红机制，能够更好地满足投资者对定期现金流的需求，显著提升持有体验。 风险提示：基金有风险，投资需谨慎。 资讯所属栏目还有更多独家策划、专家专栏，免费查阅>> 1月6日，两市全面大涨。截至收盘，"高质量红利"中证红利质量ETF(159209)收涨1.39%，盘中创上市以 来51次新高！成交额约3900万，资金热度不减，据Wind Level2实时行情结合均价预估，盘中净流入超 1300万，截至发稿，该基金获资金连续15日净流入，累计约1.6亿！ 分析指出，资金的持续追逐源于其策略内核的显著进化。该基金跟踪的中证红利质量指数，并非仅追求 高股息率，而是通过融合 "高股息" 与 "高质量" 双因子进行严苛筛选。它在要求企业具备稳定分红能力 的同时，更看重其盈利能力、财务稳健性及长期成长潜力，旨在从各行业中优中选优，其理念更接近 于"以合理价格买入伟大公司"。这使得其在市场情绪转暖时，凭借扎实的基本面，展现出比传统高股息 策略更强的股价弹性与上行空间，实现了 "攻守兼备" 的特性。 ...

1月6日，市场持续回暖。截至上午10时18分，中证红利质量ETF(159209)上涨1.23%，价格再创历史新 高，其2025年累计涨幅已超20%，领跑A股所有红利类产品。资金热度不减，盘中数据显示，该基金已 实现连续15个交易日资金净流入。 分析指出，资金的持续追逐源于其策略内核的显著进化。该基金跟踪的中证红利质量指数，并非仅追求 高股息率，而是通过融合 "高股息" 与 "高质量" 双因子进行严苛筛选。它在要求企业具备稳定分红能力 的同时，更看重其盈利能力、财务稳健性及长期成长潜力，旨在从各行业中优中选优，其理念更接近 于"以合理价格买入伟大公司"。这使得其在市场情绪转暖时，凭借扎实的基本面，展现出比传统高股息 策略更强的股价弹性与上行空间，实现了 "攻守兼备" 的特性。 在产品设计上，该ETF采用 "0.15%+0.05%" 的全市场最低档费率结构，长期持有成本优势明显。同时， 其月度评估分红机制，能够更好地满足投资者对定期现金流的需求，显著提升持有体验。 风险提示：基金有风险，投资需谨慎。 ...

分析指出，当市场风险偏好上行，投资者寻求更具弹性的配置工具。中证红利质量指数融合"高股 息"与"高质量"双因子，精准捕捉机遇。其不仅聚焦稳定分红企业，更严选盈利能力强、财务稳健、具 备成长性的优质公司。在积极市场环境中，此类标的凭借扎实基本面和增长潜力，更易吸引资金集中配 置，往往展现出超越单纯高股息策略的股价弹性与上行空间。该指数为布局风险偏好上行期提供了攻守 兼备的优质选择。产品设计层面，中证红利质量ETF(159209)费用模式采用"0.15%+0.05%"的全市场最 低档 ，长期持有具备明显的成本优势；分红模式采用月度评估分红机制，能更好地满足投资者的现金 流需求，提升持有体验。 1月6日，市场持续回暖。数据显示，截至10时18分，"高质量红利"中证红利质量ETF(159209)放量涨 1.23%，再创历史新高；中国太保持续强劲，截至发稿，该基金获资金连续15日净流入。 风险提示：基金有风险，投资需谨慎。 ...

在近期市场风格趋于均衡、无风险利率仍处低位的环境下，"质量红利"策略因其兼具防御属性与成长潜 力，正成为资金进行中长期配置的重要方向之一。该ETF的持续资金流入与强势表现，反映出投资者对 高股息策略进行迭代升级的认可。 风险提示：基金有风险，投资需谨慎。 分析指出，该ETF近期持续受到资金关注，核心在于其独特的"质量红利"策略。与传统红利指数简单依 据股息率选股不同，中证红利质量指数在筛选高股息公司的基础上，进一步融入对企业盈利能力、成长 质量与财务稳健性的综合评估。这种策略在兼顾股息收益的同时，更强调企业的长期经营质量与可持续 增长能力，契合当前市场在经济增长结构转型过程中，对具备稳定现金流、良好治理结构和持续盈利能 力的优质企业的价值重估需求。 1月5日，A股市场整体表现积极，其中以"高质量分红"为核心逻辑的中证红利质量ETF(159209)表现尤 为突出，单日涨幅超2.6%，同时获得超2000万元资金净流入，创下近期单日流入规模新高。据统计， 该ETF已连续14个交易日获得资金净流入，累计净流入额超过1.4亿元。 ...

Group 1 - The core viewpoint is that dividend assets are gaining attention in the current market due to their certainty of returns and defensive characteristics, especially in a rising valuation environment and declining risk-free interest rates [1] - The market shows structural characteristics where some blue-chip stocks have limited price increases but offer attractive dividend yields of 3%-4% combined with annual growth expectations of 5%-10% [1] - Traditional dividend ETFs have seen their dividend yields exceed 5% again, significantly higher than the domestic ten-year government bond yield of less than 2% [1] Group 2 - Among various dividend strategies, the CSI Dividend ETF (515080.SH) is a classic high-dividend representative focusing on energy and finance, currently offering a dividend yield over 5% and demonstrating strong defensive characteristics in bear markets [2] - The CSI Dividend Quality ETF (159209.SZ) emphasizes "growth" and "profit quality," focusing on consumer and pharmaceutical sectors, with its total return index rising over 20% this year, led by Kweichow Moutai as its largest weighted stock [2] - The Hong Kong Dividend Low Volatility ETF (520550.SH) focuses on "high dividends" and "stability," with its total return index increasing over 28% this year, making it an ideal defensive choice during market fluctuations [3] Group 3 - For conservative investors, a combination of "A-share Dividend Quality (growth offensive) + Hong Kong Dividend Low Volatility (high-yield defensive)" is recommended, achieving dual diversification across markets and strategy factors [5] - Both products are characterized by low fees and monthly dividends, making them suitable for long-term holding to smooth out volatility and secure predictable returns [5]

Group 1 - The core viewpoint of the articles highlights the strong performance of high-quality dividend assets, particularly the 中证红利质量ETF, which has seen a continuous inflow of funds and a notable increase in value [1][3] - As of December 22, the 中证红利质量ETF has experienced a net inflow of approximately 67 million over six consecutive days, with a total net inflow exceeding 230 million since the beginning of the year [1][3] - The current market trend indicates a shift in dividend investment strategies from traditional high dividend yield to a dual standard of high dividend yield combined with high profitability quality, which helps avoid potential pitfalls associated with traditional high dividend strategies [3] Group 2 - The strategy of selecting companies that can sustain dividends while also demonstrating high return on equity (ROE) and stable growth potential is gaining traction, providing both defensive and growth opportunities [3] - This upgraded strategy is becoming a key tool for medium to long-term investment in a low-interest-rate environment, as it balances defensive characteristics with growth potential in sectors like consumer goods and pharmaceuticals [3] - The continuous net inflow of funds into the 中证红利质量ETF reflects the increasing interest in this dual-focused investment approach, which serves as a stabilizing force in uncertain market conditions [3]

根据中泰证券统计，行业和主题ETF中，上周A股市场ETF资金流入最多的板块为高股息板块，流入额为35.58亿元。截至2025年12月17日，红 利类指数ETF跟踪规模接近2000亿元。 场内热门ETF方面，截至12月22日，中证红利质量ETF（159209）连续6个交易日获资金净流入0.67亿元，最新规模6.1亿元。其跟踪的中证红 利质量全收益指数自基日以来年化涨幅17.89%(Wind，2013.12.31-2025.12.22）。 中泰证券认为，在低利率、资产荒的背景下，能够提供稳定现金回报的高股息、强现金流类资产，其配置价值日益凸显。这一需求在险资等中 长期资金积极入市、强化资产负债匹配的推动下，或将得到进一步巩固。 中证红利质量ETF（159209）跟踪的中证红利质量指数红利因子和质量因子，覆盖50只分红稳定、股息率较高且盈利持续性较强的个股，力争 实现筛选的企业满足分红收益要求与成长性的平衡。此外，行业分布更为均衡，截至最新，单一行业占比不超过20%，不含银行股，更侧重经 营稳健且具备一定成长性的行业。 上涨19.40%。 19.40% 19.25% 3.53% 6.07% 证红利质量 300收益 ...

| 证红利质量ETF | | | 159209 | | --- | --- | --- | --- | | | | | +0.002 +0.17% | | SZSE CNY 14:45:18 交易中 | | | 10+ | | 净值走势 | | 招商中证全指红利质量ETF | | | 交在 | 0.00% 120日 | | 19.60% | | 5日 | 1.47% 250日 | | 0.00% | | 20日 | 4.73% 52周高 | | 1.18 | | 60日 | 2.01% 52周低 | | 0.89 | | 实时申购赎回信息 | 申购 | | 赎回 | | 笔数 | | ਰੇ | 0 | | 金额 | | 0 | 0 | | 份额 | 900万 | | 0 | | 申陵清单 | | | | | 最小申赎单位份额 | | | 1,000,000 | | 现金替代比例上限 | | | 50% | | 申购赎回允许情况 | | | 申购赎回皆允许 | | T日预估现金差额 | | | -26634.99元 | | T-1日单位申赎资产 | | | 1170146.01元 | | 近5日净流入 | | ...

| 中证红利质量ETF | | | 159209 | | --- | --- | --- | --- | | | | +0.002 +0.17% | | | SZSE CNY 10:35:21 交易中 | | COH | | | 净值走势 | | 招商中证全指红利质量ETF | | | 实时申购赎回信息 | | 申购 赎回 | | | 笔数 | | 5 0 | | | 金额 | | 0 0 | | | 份额 | 500万 | 0 | | | 印ច精度 | | | | | 最小申赎单位份额 | | 1,000,000 | | | 现金替代比例上限 | | 50% | | | 申购赎回允许情况 | | 申购赎回皆允许 | | | T日预估现金差额 | | -26634.99元 | | | T-1日单位申赎资产 | | 1170146.01元 | | | 近5日净流入 | | 单位(万元) | | | 2398 | | | | | | | 1514 | | | 924 | | 584 | | | 231 | | | | | 12-15 12-16 | 12-17 | 12-18 12-19 | | 12月22日，数 ...