截至收盘，中证红利低波动指数下跌0.2%，中证红利价值指数下跌0.3%，中证红利指数下跌0.5%，恒生港股通高股息低波动指数下跌0.8%。Wind数据显 示，截至昨日，红利ETF易方达（515180）月内净流入额超14亿元。 长江证券表示，从长周期来看，红利板块在低利率时期更具配置价值，红利板块的超额收益跟国债利率呈现负相关性，当前十年期国债利率已达到2002年以 来的谷底，红利资产的股价空间正在打开，投资价值持续凸显。 该指数由50只流动性好、连续分红、 红利支付率适中、每股股息正增长 以及股息率高目波动率低的股票组 成,反映分红水平高且波动率低的A 股上市公司股票的整体表现,银行、 交通运输、建筑装饰行业合计占比 超65% 令日 该指数涨跌 -0. 2% 恒生红利低波ETF 跟踪恒生港股通高股息低波动指数 该指数由港股诵范围内50只流动性 较好、连续分红、红利支付率适中 且波动率较低的股票组成,反映分 红水平高且波动率低的港股通范围 内上市公司整体表现,金融、工业、 能源行业占比超65% 交日 该指数涨跌 0. 8% 每日经济新闻 红利价值ETF 跟踪中证红利价值指数 ...

据统计，易方达基金是目前唯一一家红利类ETF全部实行低费率的基金公司，旗下的红利ETF易方达、 红利价值ETF、恒生红利低波ETF和红利低波动ETF管理费率均为0.15%/年，可助力投资者低成本开展 红利投资。 本报讯(记者昌校宇)近期，多只红利类ETF密集分红，按照权益登记日进行统计，定档10月份分红的红 利类ETF已超过15只，其中就包括易方达基金旗下的红利ETF易方达和红利价值ETF，这两只ETF均于 10月24日发放现金红利。 其中，红利ETF易方达此次每10份基金份额分红0.61元，分红总额约4.2亿元。数据显示，该ETF自2020 年以来已连续6年实施分红，累计分红金额超10亿元。红利价值ETF此次每10份基金份额分红0.1元，分 红总额约700万元。这也是红利价值ETF今年第二次分红，7月份该ETF每10份基金份额分红0.1元。 ...

今日早盘，煤炭板块掀涨停潮，交运、银行板块涨幅居前，带动红利类指数上涨，截至午间收盘，中证红利价值指数上涨0.7%，中证红利指数上涨0.5%， 中证红利低波动指数、恒生港股通高股息低波动指数均上涨0.1%。Wind数据显示，截至昨日，红利ETF易方达（515180）连续3日获资金净流入，合计超3 亿元。 红利支付率适中、每股股息正增长 以及股息率高目波动率低的股票组 成,反映分红水平高且波动率低的A 股上市公司股票的整体表现,银行、 交通运输、建筑装饰行业合计占比 超65% 截至午间收盘 该指数涨跌 0. 1% 截至午间收盘 -- 恒生红利低波ETF 跟踪恒生港股通高股息低波动指 该指数由港股通范围内50只流动性 较好、连续分红、红利支付率适中 且波动率较低的股票组成,反映分 红水平高且波动率低的港股通范围 内上市公司整体表现,金融、工业、 能源行业占比超65% 截至午间收盘 该指数涨跌 0. 1% 红利价值ETF 跟踪中证红利价值指数 该指数由50只股息率高日价值特征 每日经济新闻 ...

Core Viewpoint - The dividend sector shows increased investment value in a low interest rate environment, with excess returns negatively correlated to government bond yields, as the current ten-year government bond yield has reached its lowest point since 2002, indicating potential price appreciation for dividend assets [1]. Group 1: Market Performance - The Hang Seng High Dividend Low Volatility Index rose by 0.7% at midday, while the CSI Dividend Value Index increased by 0.4%, the CSI Dividend Low Volatility Index rose by 0.03%, and the CSI Dividend Index fell by 0.02% [1]. Group 2: Index Composition - The CSI Dividend Index consists of 100 stocks with high cash dividend yields, reflecting the overall performance of high dividend A-share companies, with banking, coal, and transportation sectors accounting for nearly 55% of the index [3]. - The CSI Dividend Low Volatility Index is composed of 50 stocks with good liquidity and continuous dividends, reflecting the performance of A-share companies with high dividend levels and low volatility, with banking, transportation, and construction sectors making up over 65% [3]. - The Hang Seng High Dividend Low Volatility Index includes 50 stocks within the Hong Kong Stock Connect that have good liquidity and moderate dividend payout ratios, with financial, industrial, and energy sectors exceeding 65% [3]. Group 3: Valuation Metrics - The rolling price-to-earnings ratio for the CSI Dividend Index is 8.1 times, with a valuation percentile of 65.3% since 2013 [3]. - The rolling price-to-earnings ratio for the CSI Dividend Low Volatility Index is also 8.1 times, with a valuation percentile of 74.4% since 2013 [3]. - The rolling price-to-earnings ratio for the Hang Seng High Dividend Low Volatility Index is 7.1 times, with a valuation percentile of 82.3% since 2017 [3].

来源：同壁财经 政策鼓励分红，A股、港股上市公司派现意愿升温，海外降息打开低利率空间，红利资产以其低估值、 高分红的特点，有望在当前市场中脱颖而出，成为兼具防御性与吸引力的优质配置之选。 一、政策鼓励支持上市公司分红，A股和港股上市公司积极回报投资者 3、如何布局？关注这两类红利ETF 对于普通投资者，通过红利ETF一键布局低估值、高分红资产是更便捷的选择： A股红利ETF：如红利ETF易方达（代码：515180）、红利低波动ETF（代码：563020）、红利价值ETF （563700）适合偏好A股市场、注重分红持续性的投资者； 港股红利ETF：如恒生红利低波ETF（159545），适合希望配置估值更低、行业更多元的港股高股息资 产的投资者。港股红利资产更高股息、更低估值、更多元行业行业分布更广，除银行、石化外，还涵盖 电信、公用事业等多元高股息板块。 在政策引导、市场环境与资产特性多重因素共振下，红利资产的投资逻辑愈发清晰。其稳健的分红能力 与较低的估值水平，为投资者提供了良好的安全边际。通过布局相关ETF，或可有效把握红利资产的长 期价值，构建更具韧性的投资组合。 风险提示：市场有风险，投资需谨慎。历史表 ...

Group 1 - The article discusses various dividend-focused ETFs, including the E Fund Dividend ETF, which tracks the CSI Dividend Index composed of 100 high cash dividend yield stocks, primarily from the banking, coal, and transportation sectors, accounting for over 55% of the index [2] - The E Fund Low Volatility Dividend ETF tracks the CSI Low Volatility Dividend Index, consisting of 50 stocks with good liquidity and stable dividend payments, with a significant representation from the banking, transportation, and construction sectors, making up about 70% of the index [2] - The Hang Seng Low Volatility Dividend ETF tracks the Hang Seng High Dividend Low Volatility Index, which includes 50 stocks from the Hong Kong Stock Connect with low volatility and stable dividends, with nearly 70% of the index from the financial, industrial, and energy sectors [2] Group 2 - The CSI Dividend Value Index, tracked by the Dividend Value ETF, consists of 50 high dividend yield stocks with notable value characteristics, with banking, coal, and transportation industries representing approximately 80% of the index [3] - As of the latest data, the rolling price-to-earnings (P/E) ratio for the CSI Dividend Index is 8.21, with a valuation percentile of 69.3% since its inception in December 2013 [2] - The rolling P/E ratio for the CSI Low Volatility Dividend Index is 8.3, with a valuation percentile of 76.4% since its launch in December 2015 [2]

Group 1: Core Insights - The article discusses various dividend ETFs, including E Fund's dividend ETF, which tracks the China Securities Dividend Index composed of 100 high cash dividend yield stocks, primarily from the banking, coal, and transportation sectors, accounting for over 55% of the index [2] - The E Fund's low volatility dividend ETF tracks the China Securities Low Volatility Dividend Index, consisting of 50 stocks with good liquidity and stable dividend payments, with a sector concentration of over 70% in banking, transportation, and construction [2] - The Hang Seng Low Volatility Dividend ETF tracks the Hang Seng High Dividend Low Volatility Index, made up of 50 stocks within the Hong Kong Stock Connect that have low volatility and stable dividends, with significant representation from the financial and industrial sectors [2] Group 2: Performance Metrics - As of the latest trading session, the China Securities Dividend Index showed a change of 0.3% with a rolling P/E ratio of 8.2 times and a valuation percentile of 67.9% since its inception in 2013 [2] - The China Securities Low Volatility Dividend Index experienced a change of 0.5% with a rolling P/E ratio of 8.2 times and a valuation percentile of 76.1% since its launch in 2013 [2] - The Hang Seng High Dividend Low Volatility Index reported a change of -0.6% with a rolling P/E ratio of 7.2 times and a valuation percentile of 84.2% since its introduction in 2017 [2]

Core Viewpoint - The article discusses various dividend-focused ETFs, highlighting their composition, performance, and sector allocations, indicating a trend towards stable, high-dividend yielding stocks in the A-share and Hong Kong markets [2]. Group 1: Dividend ETFs Overview - The E Fund Dividend ETF tracks the China Securities Dividend Index, consisting of 100 stocks with high cash dividend yields, reflecting the overall performance of high-dividend A-share companies [2]. - The E Fund Low Volatility Dividend ETF tracks the China Securities Low Volatility Dividend Index, composed of 50 stocks with good liquidity and continuous dividends, indicating a focus on low volatility and stable dividend growth [2]. - The Hang Seng Low Volatility Dividend ETF tracks the Hang Seng High Dividend Low Volatility Index, made up of 50 stocks within the Hong Kong Stock Connect that exhibit low volatility and stable dividend payments [2]. Group 2: Performance Metrics - As of the latest trading session, the E Fund Dividend ETF showed a change of 0.2% with a rolling P/E ratio of 8.2 times and a valuation percentile of 67.2% since its inception in 2013 [2]. - The E Fund Low Volatility Dividend ETF recorded a change of 0.5% with a rolling P/E ratio of 8.2 times and a valuation percentile of 76.0% since its launch in 2013 [2]. - The Hang Seng Low Volatility Dividend ETF experienced a change of -0.2% with a rolling P/E ratio of 7.3 times and a valuation percentile of 85.4% since its introduction in 2017 [2]. Group 3: Sector Allocations - In the E Fund Dividend ETF, the banking, coal, and transportation sectors collectively account for over 55% of the index, with a significant weight in banking stocks [2]. - The E Fund Low Volatility Dividend ETF has nearly 70% of its composition in the banking, transportation, and construction sectors [2]. - The Hang Seng Low Volatility Dividend ETF has close to 70% of its holdings in the financial, industrial, and energy sectors [2].

Group 1 - The CSI Dividend Index rose by 0.03% while the CSI Dividend Value Index fell by 0.2% and the CSI Dividend Low Volatility Index decreased by 0.6% as of midday close [1] - The Hang Seng High Dividend Low Volatility Index dropped by 1%, and the Hang Seng Dividend Low Volatility ETF (159545) saw a net subscription of over 28 million units in the first half of the day [1] - The composition of the dividend-paying stocks reflects high dividend levels and low volatility, with the banking, transportation, and construction industries accounting for approximately 70% [5] Group 2 - The Hang Seng Dividend Low Volatility ETF tracks the Hang Seng High Dividend Low Volatility Index [6] - The index consists of 50 liquid stocks within the Stock Connect that have a history of continuous dividends, moderate dividend payout ratios, and low volatility, with financial, industrial, and energy sectors making up nearly 70% [7] - The Dividend Value ETF tracks the CSI Dividend Value Index, which includes 50 stocks characterized by high dividend yields and value traits [7]

Group 1 - The article highlights the actual cash dividends received by investors holding three specific ETFs over the past three months, amounting to 1200 yuan, 1000 yuan, and 1000 yuan respectively [3] - The consistent monthly dividends provide a stable cash flow, serving as a "living supplement" for investors who prioritize regular income [3]