恒生红利低波ETF（159545）在基金合同中约定，本基金分别于每年一月、四月、七月、十月最后一个 交易日对基金相对标的指数的超额收益率以及基金的可供分配利润进行评价，评价日核定的基金累计报 酬率超过标的指数同期累计报酬率或者每10份基金份额可供分配利润金额高于0.05元（含）时，基金管 理人可进行收益分配。该机制有助于提升现金收益的稳定性与投资者持有体验。 易方达红利指数系列，包括红利「月月」享的恒生红利低波ETF（159545）、红利低波动ETF （563020）、红利价值ETF（563700）在内的三只ETF，均以季度维度进行分红评估：配置齐全后合并 后即覆盖全年各月份，力求实现"月月分红"的效果，满足月度现金流需求。 相关产品： 截至13:15，恒生港股通高股息低波动指数（HSHYLV.HI）跌0.45%，权重股中，首钢资源跌0.7%，兖 煤澳大利亚跌0.8%，兖矿能源跌0.3%，伟易达跌1.1%，恒生银行涨0.1%。此外，电能实业涨2.0%，中 石化炼化工程涨1.9%，中国石油化工股份涨1.8%，江南布衣涨1.3%，远东宏信涨1.1%。 恒生红利低波ETF（159545）紧密跟踪恒生港股通高股息低波 ...

资金流入方面，恒生红利低波ETF(159545)近23个交易日内，合计"吸金"2.64亿元。 中信证券研报指出，银行中报盈利企稳修复，修复幅度略超预期。具体而言，息差预期走稳，投资收益 贡献收入，资产质量形势稳定，单季度盈利改善幅度明显，中信证券预计全年盈利增速仍有上行空间。 市场层面看，前期交易型资金流出压制银行股表现，稳定的基本面格局夯实投资者配置板块信心，看好 后续绝对收益行情继续演绎。 拉长时间看，截至9月3日，恒生红利低波ETF(159545)近1月规模增长1.70亿元，新增规模位居可比基金 第一。恒生红利低波ETF(159545)近1月份额增长1.76亿份，实现显著增长。 恒生红利低波ETF(159545)紧密跟踪恒生港股通高股息低波动指数，恒生港股通高股息低波动指数旨在 反映可通过港股通买卖的香港上市高股息低波动证券的表现。 截至2025年9月4日 14:23，恒生红利低波ETF(159545)盘中换手3.1%，成交1.25亿元。 相关产品：恒生红利低波ETF(159545)，联接A（021457）/联接C（021458） ...

Core Insights - The Hang Seng Dividend Low Volatility ETF (159545) has shown significant growth, with a recent fund size reaching 4.318 billion yuan, marking a record high since its inception [1] - The ETF has experienced a substantial increase in shares, with a growth of 76.2 million shares over the past week, ranking first among comparable funds [1] - In terms of capital inflow, the ETF has seen net inflows for 4 out of the last 5 trading days, totaling 116 million yuan [1] Fund Performance - As of August 20, 2025, the ETF's turnover rate was 5.08%, with a trading volume of 220 million yuan [1] - The ETF closely tracks the Hang Seng Stock Connect High Dividend Low Volatility Index, which reflects the performance of high dividend, low volatility securities listed in Hong Kong [1] Banking Sector Insights - According to the Banking Regulatory Indicators from the Financial Supervisory Authority, the decline in bank interest margins has narrowed in Q2, with stable asset quality and improved performance growth [1] - CITIC Securities anticipates a continued improvement trend in the banking sector for the remainder of the year, despite a recent pullback in the banking sector attributed to style and capital factors [1] - The banking sector is undergoing a revaluation of net assets, with potential for further recovery as long as there is sustained inflow of allocation-type capital [1]

Core Viewpoint - The Hang Seng Dividend Low Volatility ETF (159545) has seen significant growth in trading volume and assets, indicating strong investor interest and potential resilience in the face of external uncertainties [1][2]. Group 1: Fund Performance - As of April 3, 2025, the trading volume of the Hang Seng Dividend Low Volatility ETF reached 59.7841 million yuan, with a turnover rate of 4.68% [1]. - The latest asset size of the ETF reached 1.276 billion yuan, marking a new high since its inception [1]. - In the past two weeks, the ETF's shares increased by 39 million, demonstrating substantial growth [1]. Group 2: Market Analysis - In the last five trading days, the ETF attracted a total of 17.5734 million yuan in inflows [2]. - Analysts suggest that uncertainties surrounding overseas tariffs and supportive domestic policies in finance and consumption sectors could enhance the appeal of Hong Kong dividend assets [2]. - The Hang Seng Dividend Low Volatility Index, which the ETF closely tracks, boasts a dividend yield of 7.42%, indicating strong income potential despite short-term market volatility [2].