该基金的核心吸引力来自其突出的股息率优势。其跟踪的恒生港股通高股息低波动指数近12个月股息率达 6.5%，显著高于10年期国债收益率1.85%，在同类红利指数中也表现突出。这一利差使其在当前波动市场中具 备较强配置价值。 产品设计上，该基金采用0.2%的全市场最低综合费率，并通过月度分红评估机制和T+0交易提升资金效率。持 仓以金融、能源等成熟行业为主，设置个股5%权重上限以分散风险，并动态剔除阶段跌幅过大的股票，有效规 避"股息率陷阱"。场外投资者可通过联接基金（A类：024029/C类：024030）参与布局。 12月18日，港股高股息板块再度走强。截至10时11分，港股红利低波ETF(520550)涨0.33%。资金热度不减，截 至12月17日，该基金获资金连续20日净流入，累计约1.8亿，年初以来累计净流入约9.9亿！ 在近期国内风险资产普遍调整的背景下，经营稳健、分红确定性强的港股红利龙头展现出显著韧性，成为资金 寻求稳定回报的重要选择。市场避险情绪的升温，进一步凸显了此类资产的配置价值。 从政策环境看，引导长期资金入市、维护资本市场稳定是当前明确导向。华泰证券分析指出，相关政策围绕推 动公募基金、 ...

Group 1 - The core viewpoint is that as market volatility increases towards year-end, funds are rapidly flowing into defensive assets, with the Hong Kong Dividend Low Volatility ETF (520550) experiencing significant net inflows over 20 trading days [1][3] - The fund's share size has expanded dramatically, with a year-to-date increase of 441.96%, reaching a historical high [1] - In the context of recent adjustments in domestic risk assets, stable and high-dividend Hong Kong stocks have shown remarkable resilience, becoming a key choice for funds seeking stable returns [3] Group 2 - The current policy environment aims to guide long-term capital into the market and maintain capital market stability, which is a clear directive [3] - Analysis from Huatai Securities indicates that policies are focused on promoting long-term capital from public funds, insurance, and pensions, providing multi-layered support for the market [3] - The ETF's core appeal lies in its high dividend yield, with the tracked index showing a 12-month dividend yield of 6.5%, significantly higher than the 10-year government bond yield of 1.85% [3] Group 3 - The fund is designed with a low comprehensive fee rate of 0.2% and employs a monthly dividend assessment mechanism and T+0 trading to enhance capital efficiency [3] - The fund's holdings are primarily in mature sectors such as finance and energy, with a 5% weight limit on individual stocks to diversify risk and dynamically exclude stocks with significant declines to avoid "dividend traps" [3] - Investors can participate in the fund through linked funds (Class A: 024029/Class C: 024030) [3]

值得留意的是，港股红利低波ETF(520550)采用 "高股息+低波动" 的双因子选股策略。以全市场最低费率（综合费 率0.2%）降低持有成本，其月度分红机制和T+0交易特性进一步提升了资金效率；持仓结构上，金融、能源等成熟 行业构筑安全垫，同时通过单一个股5%的权重上限实现风险分散，剔除阶段跌幅过大的股票规避"股息率陷阱"。 场外投资者可借助联接基金(A类：024029/C类：024030)进行布局。 风险提示：基金有风险，投资需谨慎。 分析称，在低利率和市场经济存在不确定性的大环境下，资金会天然地倾向于寻找收益稳定、防御性强的资产。港 股高股息资产恰好能提供显著高于债券的股息率，同时其低波动特性也能较好地抵御市场波动，因此成为包括险资 在内的不少大资金的配置优选。 岁末年初，港股高股息资产持续获资金青睐。数据显示，截至12月1日，可月月分红港股红利低波ETF(520550)获资 金连续8日净流入，累计超4300万，年初以来累计净流入超8.5亿，最新规模约12亿创历史新高！ ...

Core Viewpoint - The investment value of Hong Kong dividend assets is currently highlighted, with strong performance in the Hong Kong dividend low volatility ETF (520550) and continuous net inflows of funds. Group 1: Investment Value - The Hong Kong dividend low volatility ETF (520550) has seen a 1.02% increase as of November 12, with funds experiencing net inflows for three consecutive days [1] - The tracked Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index has a current dividend yield close to 6%, significantly higher than the market average even after accounting for a 20% dividend tax [3] - The index has a high-quality component stock structure, with state-owned enterprises accounting for 68%, indicating strong operational stability and sustainable dividend policies [3] Group 2: Risk Management and Cost Efficiency - The ETF features the lowest overall fee rate in the market at 0.2%, which reduces holding costs and enhances fund efficiency through its monthly dividend mechanism and T+0 trading characteristics [3] - The portfolio is structured to provide a safety net through mature sectors like finance and energy, while a 5% weight limit on individual stocks helps to diversify risk and avoid "dividend yield traps" [3] - Investors can access the ETF through feeder funds (Class A: 024029/Class C: 024030) for additional investment opportunities [3]