数据显示，截至2025年9月30日，中证A500红利低波动指数(932422)前十大权重股分别为农业银行(601288)、雅戈尔(600177)、中国神华(601088)、云天化 (600096)、中国银行(601988)、交通银行(601328)、工商银行(601398)、江苏银行(600919)、邮储银行(601658)、格力电器(000651)，前十大权重股合计占比 30.72%。 流动性方面，中证A500红利低波ETF盘中换手1.97%，成交984.50万元。拉长时间看，截至10月9日，中证A500红利低波ETF近1年日均成交3139.01万元。回 撤方面，截至2025年10月9日，中证A500红利低波ETF成立以来最大回撤3.42%，相对基准回撤0.23%。费率方面，中证A500红利低波ETF管理费率为 0.50%，托管费率为0.10%。跟踪精度方面，截至2025年10月9日，中证A500红利低波ETF近1月跟踪误差为0.035%，在可比基金中跟踪精度最高。从估值层 面来看，中证A500红利低波ETF跟踪的中证A500红利低波动指数最新市盈率（PE-TTM）仅9.78倍，处于近1年18.75%的分位 ...

回撤方面，截至2025年10月9日，中证A500红利低波ETF成立以来最大回撤3.42%，相对基准回撤0.23%。 费率方面，中证A500红利低波ETF管理费率为0.50%，托管费率为0.10%。 截至2025年10月10日 09:40，中证A500红利低波动指数(932422)上涨0.11%，成分股圆通速递(600233)上涨1.76%，云天化(600096)上涨1.33%，特变电工 (600089)上涨1.28%，中国中铁(601390)上涨1.03%，华域汽车(600741)上涨0.94%。中证A500红利低波ETF(561680)多空胶着，最新报价0.99元。拉长时间 看，截至2025年10月9日，中证A500红利低波ETF近2周累计上涨1.34%。 中证A500红利低波ETF紧密跟踪中证A500红利低波动指数，中证A500红利低波动指数从中证A500指数样本中选取50只连续分红、股息率较高且波动率较低 的证券作为指数样本，采用股息率加权，以反映中证A500指数样本中股息率较高且波动率较低上市公司证券的整体表现。 流动性方面，中证A500红利低波ETF盘中换手0.22%，成交109.33万元。拉长时间 ...

截至2025年10月9日 09:43，中证A500红利低波动指数(932422)上涨0.14%，成分股特变电工(600089)上涨10.00%，海康威视(002415)上涨4.25%，中国中铁 (601390)上涨3.63%，江苏国泰(002091)上涨3.61%，中国核电(601985)上涨3.56%。中证A500红利低波ETF(561680)上涨0.10%，最新价报0.97元。 流动性方面，中证A500红利低波ETF盘中换手0.07%，成交33.48万元。拉长时间看，截至9月30日，中证A500红利低波ETF近1年日均成交3252.34万元。 费率方面，中证A500红利低波ETF管理费率为0.50%，托管费率为0.10%。 | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 601288 | 农业银行 | -1.80% | 1.45% | | 600177 | 雅戈尔 | -0.54% | 1.34% | | 601328 | 交通银行 | -0.74% | 1.27% | | 201988 | 中国银行 | -0.97% | 1.27% | | ...

Core Viewpoint - The China Securities A500 Dividend Low Volatility Index (932422) has shown positive performance, with notable increases in several constituent stocks, indicating a favorable market sentiment towards low volatility and dividend-paying stocks [1][2]. Group 1: Index Performance - As of September 26, 2025, the China Securities A500 Dividend Low Volatility Index increased by 0.45%, with key stocks such as Baosteel Co., Ltd. (600019) rising by 3.09% and Sun Paper Industry Co., Ltd. (002078) by 2.90% [1]. - The China Securities A500 Dividend Low Volatility ETF (561680) also saw an increase of 0.41%, with the latest price at 0.98 yuan [1]. Group 2: Liquidity and Trading Volume - The trading volume for the China Securities A500 Dividend Low Volatility ETF was 399.91 million yuan, with a turnover rate of 0.8% during the session [1]. - Over the past year, the ETF has maintained an average daily trading volume of 37.94 million yuan, ranking first among comparable funds [1]. Group 3: Fund Flows and Tracking Accuracy - The latest net outflow for the China Securities A500 Dividend Low Volatility ETF was 4.86 million yuan, but it attracted a total of 28.76 million yuan over the last ten trading days [2]. - The ETF has the highest tracking accuracy among comparable funds, with a tracking error of only 0.149% year-to-date [2]. Group 4: Valuation Metrics - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the ETF is 9.76 times, placing it in the 11.29% percentile over the past year, indicating that it is undervalued compared to 88.71% of the time in the last year [2]. Group 5: Top Holdings - As of August 29, 2025, the top ten weighted stocks in the China Securities A500 Dividend Low Volatility Index accounted for 31.13% of the index, with Agricultural Bank of China (601288) being the largest holding [3]. - The top ten stocks include major banks and companies, reflecting a focus on stable, dividend-paying entities [3][4].

Core Viewpoint - The Zhongzheng A500 Dividend Low Volatility Index and its corresponding ETF are showing positive performance, with significant liquidity and low tracking error, indicating potential investment opportunities in the underlying stocks. Group 1: Performance Metrics - As of September 26, 2025, the Zhongzheng A500 Dividend Low Volatility Index (932422) increased by 0.09%, with notable gains from Huayu Automotive (600741) at 3.70%, YTO Express (600233) at 2.46%, and Tebian Electric Apparatus (600089) at 2.22% [1] - The Zhongzheng A500 Dividend Low Volatility ETF (561680) rose by 0.21%, with the latest price at 0.98 yuan [1] - The ETF's average daily trading volume over the past year is 37.94 million yuan, ranking it first among comparable funds [1] Group 2: Liquidity and Fund Flows - The Zhongzheng A500 Dividend Low Volatility ETF experienced a net outflow of 4.86 million yuan recently, but has attracted a total of 28.76 million yuan over the last 10 trading days [1] - The ETF's maximum drawdown since inception is 3.42%, with a relative benchmark drawdown of 0.23% [1] Group 3: Fee Structure - The management fee for the Zhongzheng A500 Dividend Low Volatility ETF is 0.50%, while the custody fee is 0.10% [1] Group 4: Tracking Accuracy and Valuation - The ETF has the highest tracking accuracy among comparable funds, with a tracking error of 0.149% year-to-date [2] - The latest price-to-earnings ratio (PE-TTM) for the index is 9.76, indicating it is at a historical low, being below 88.71% of the time over the past year [2] Group 5: Index Composition - The Zhongzheng A500 Dividend Low Volatility Index is composed of 50 stocks selected for consistent dividends, high dividend yields, and low volatility, reflecting the overall performance of these securities [2] - As of August 29, 2025, the top ten weighted stocks in the index account for 31.13% of the total index, with Agricultural Bank of China (601288) and Yageo (600177) being the top two [2]

Group 1 - The central bank reported significant achievements in China's financial sector during the "14th Five-Year Plan" period, with total banking assets reaching nearly 470 trillion yuan, ranking first globally [1] - China's stock and bond market sizes rank second in the world, while foreign exchange reserves have maintained the top position for 20 consecutive years [1] - The country leads in green finance, inclusive finance, and digital finance, establishing a comprehensive and efficient cross-border payment network for the renminbi [1] Group 2 - As of September 23, 2025, the CSI A500 Dividend Low Volatility Index (932422) saw a slight increase of 0.01%, with notable stock performances from Ningbo Port (up 2.70%) and Industrial and Commercial Bank of China (up 2.65%) [2] - The CSI A500 Dividend Low Volatility ETF (561680) experienced a trading volume of 851.19 million yuan, with a turnover rate of 1.66% [2] - The ETF has a maximum drawdown of 3.42% since inception, with a tracking error of 0.164% this year, indicating high tracking precision among comparable funds [2] Group 3 - The CSI A500 Dividend Low Volatility Index selects 50 stocks from the CSI A500 Index based on high dividend yields and low volatility, weighted by dividend yield [3] - As of August 29, 2025, the top ten weighted stocks in the index accounted for 31.13% of the total index weight, with Agricultural Bank of China being the highest [3]

Group 1 - The total asset scale of China's banking industry continues to expand, with an average annual growth of 9% over the past five years, and "white list" project loans exceeding 7 trillion yuan supporting housing construction [1] - The LPR (Loan Prime Rate) has remained unchanged for four consecutive months, with market expectations for potential interest rate cuts and reserve requirement ratio reductions in the fourth quarter [1] Group 2 - The latest PE-TTM (Price-to-Earnings Trailing Twelve Months) for the CSI A500 Dividend Low Volatility Index is only 9.7 times, indicating a valuation lower than 94.21% of the time over the past year, reflecting historical lows [2] - The CSI A500 Dividend Low Volatility Index selects 50 securities with continuous dividends, high dividend yields, and low volatility from the CSI A500 Index sample, weighted by dividend yield to represent the overall performance of these companies [2] Group 3 - As of September 22, the top ten weighted stocks in the CSI A500 Dividend Low Volatility Index account for a total of 31.13%, with major contributors including Agricultural Bank of China, Yagor, and China Bank [2] - The performance of individual stocks within the index shows varying changes, with Agricultural Bank of China increasing by 1.54% and Yagor decreasing by 0.54% [4]

Core Viewpoint - The 中证A500红利低波动指数 and its corresponding ETF have shown positive performance, with significant liquidity and low valuation metrics, indicating potential investment opportunities in the underlying stocks. Group 1: Performance Metrics - As of September 19, 2025, the 中证A500红利低波动指数 increased by 0.37%, with notable gains from stocks such as 圆通速递 (5.35%) and 特变电工 (4.38%) [1] - The 中证A500红利低波ETF rose by 0.20%, with a latest price of 0.98 yuan [1] - The ETF's average daily trading volume over the past year was 51.24 million yuan, ranking it first among comparable funds [1] Group 2: Liquidity and Fund Flows - The 中证A500红利低波ETF had a turnover rate of 2.23% during the trading session, with a total transaction value of 11.64 million yuan [1] - Recent fund inflows showed a net inflow of 985,900 yuan, with a total of 46.33 million yuan net inflow over the last five trading days [1] Group 3: Risk and Valuation - The maximum drawdown since the inception of the 中证A500红利低波ETF is 2.79%, with a relative benchmark drawdown of 0.23% [1] - The ETF's management fee is 0.50%, and the custody fee is 0.10% [1] - The ETF's tracking error for the year is 0.178%, the highest among comparable funds [2] - The latest price-to-earnings ratio (PE-TTM) for the index is 9.82, indicating a valuation lower than 82.35% of the time over the past year [2] Group 4: Index Composition - The 中证A500红利低波动指数 consists of 50 stocks selected for their high dividend yield and low volatility, with the top ten stocks accounting for 31.13% of the index [2] - The top ten weighted stocks include 农业银行, 雅戈尔, 交通银行, and others, with varying performance on the trading day [3]

Core Viewpoint - The A-share market is experiencing significant growth, with indices reaching new highs, while investors are increasingly seeking stable investment options amidst heightened market volatility [1]. Group 1: Product Overview - The Ping An Asset Management's Ping An CSI A500 Dividend Low Volatility ETF (code: 561680) was officially launched on September 5, providing a strategy tool that balances high dividends and risk control [1]. - The fund tracks the CSI A500 Dividend Low Volatility Index, which selects 50 stocks with high dividend yields and low volatility from leading companies across various sectors, making it a quality choice for asset allocation in the current market environment [1][3]. - The fund's establishment scale reached 803 million yuan, indicating strong investor recognition [1]. Group 2: Index Performance - Since 2015, the annualized return of the A500 Dividend Low Volatility Index has reached 10.81%, outperforming traditional dividend indices by at least 1% in long-term annualized returns [2]. - The index has demonstrated lower volatility and smaller maximum drawdowns, winning against three mainstream dividend indices in five out of the last ten years, showcasing its defensive attributes during economic downturns [2]. Group 3: Advantages of the Index - The A500 Dividend Low Volatility Index has several advantages over traditional dividend indices, including a stronger risk resistance due to the selection of leading stocks with robust profitability [3]. - The index maintains a balanced industry allocation, covering 21 primary industries, thus avoiding excessive concentration in traditional sectors like banking and transportation [3]. - It aligns well with the current economic transformation trends by overweighting core assets in new productive forces, supporting sustainable performance and dividend distribution [3]. Group 4: Investor Suitability - The index is suitable for conservative investors affected by bank wealth management products, who favor high dividend yields while avoiding high volatility in A-shares [6]. - It appeals to investors seeking stable returns to hedge against inflation, particularly those unfamiliar with equity index investments [7]. - Investors who have experienced account drawdowns in volatile markets but wish to continue investing in core A-share assets may consider transitioning from single broad-based index investments to broad strategy index investments [7]. - Institutional funds, such as insurance and annuity accounts, can also utilize the A500 Dividend Low Volatility Index to optimize asset allocation and enhance portfolio performance during market fluctuations [7]. Group 5: Market Implications - The launch of the Ping An CSI A500 Dividend Low Volatility ETF signifies a shift towards "refined selection" in domestic dividend strategy ETFs, providing investors with a pathway that balances high dividends and risk control [8].

Core Viewpoint - The approval and issuance of the first batch of CSI A500 Dividend Low Volatility ETFs mark a significant milestone in the domestic fund market, providing investors with diversified asset allocation options and promoting rational and stable investment in the capital market [3][4]. Group 1: ETF Approval and Market Context - The first batch of CSI A500 Dividend Low Volatility ETFs was officially approved in July 2025, following the release of the CSI A500 Dividend Low Volatility Index in April of the same year [1]. - The initial offering of the Ping An CSI A500 Dividend Low Volatility ETF (subscription code 561683) received widespread attention and recognition from investors on its first day of issuance [1]. Group 2: Index Characteristics and Performance - The CSI A500 Dividend Low Volatility Index has achieved an annualized return of 10.81% since 2015, outperforming traditional dividend indices by 1% [2]. - The index has demonstrated lower volatility and smaller maximum drawdowns, winning five out of the last ten years against three mainstream dividend indices, showcasing its defensive attributes during economic downturns [2]. - The index includes 50 stocks selected for high dividend yield and low volatility, utilizing four optimization metrics to better reflect the performance of high-dividend and low-volatility stocks [1][2]. Group 3: Investor Suitability and Market Impact - The index is suitable for various investor profiles, including those seeking stable returns to counter inflation, investors unfamiliar with equity index investments, and institutional funds looking to optimize asset allocation [3]. - The launch of the CSI A500 Dividend Low Volatility ETFs is expected to attract significant capital from both individual and institutional investors, enhancing market vitality and promoting the prosperity of the capital market [4].