今日早盘，红利板块逆势走强，截至午间收盘，中证红利指数上涨0.9%，中证红利价值指数上涨0.9%，中证红利低波动指数上涨0.6%，恒生港股通高股息 低波动指数上涨0.2%。Wind数据显示，截至昨日，红利ETF易方达（515180）和红利低波动ETF（563020）均连续5个交易日获资金净流入。 红利价值ETF 跟踪中证红利价值指数 该指数由50只股息率高且价值特征 突出的股票组成,反映分红水平高 且价值特征突出股票的整体表现, 银行、煤炭、交通运输行业合计占 比约80% 截至午间收盘 该指数涨跌 该指数自201 以来估值分 上以AJ手以限NJ以示垃圾,以吹川 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、 能源行业占比近70% 7.0倍 0. 2% 该指数 滚动市盈率 7. 3倍 0. 9% 67.7' 注1："该指数"指各上述基金产品具体提踪的指数。数据来自川ind，指数涨跌幅截至2025年10月10日午间收盘，滚动市盈率及其所处分位、股息率截至2025年10月9日 公司股东的净利润，该估值指标和企业盈利紧密相关，适用于盈利相对稳定且受周期影响较小的行业。指数滚动市盈率所处分位指该指数历 ...

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]

Core Viewpoint - The article discusses the performance and characteristics of the China Securities Dividend Value Index, which tracks 50 high dividend yield and value-oriented stocks, primarily in the banking, coal, and transportation sectors, accounting for approximately 80% of the index [3][4]. Summary by Relevant Sections Index Composition and Performance - The China Securities Dividend Value Index consists of 50 stocks with high dividend yields and notable value characteristics, reflecting the overall performance of high dividend and value stocks [3]. - As of the midday close on August 19, 2025, the index showed a performance change of 72.0% [4]. - The rolling price-to-earnings (P/E) ratio of the index is reported at 7.6 times [4]. Historical Context and Adjustments - The index has been in existence since 2014, with its valuation percentile indicating historical performance relative to current valuations [4]. - The index was adjusted from a market capitalization-weighted to a stock rate-weighted methodology on December 16, 2013 [4]. Dividend Yield Calculation - The dividend yield is calculated as the total cash dividends (pre-tax) over the stock market value, with the index considering the average cash dividend yield over the past three years [5]. - The actual dividend yield received by fund holders may be lower than the reported values due to applicable tax rates, which vary between markets [5]. Fund Management and Fees - The fund associated with the index has a low management fee of 0.15% per year and a custody fee of 0.05% per year [5].

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 core viewpoint indicates that the performance of various indices reflects the overall market trends, with the 中证红利低波动指数 and 中证红利价值指数 showing positive movements, while the 恒生港股通高股息低波动指数 and 中证红利指数 experienced slight declines [1][5][7] - The 恒生红利低波ETF (159545) has seen a net inflow of 6.6 million units in the first half of the trading day, continuing a trend of net inflows for seven consecutive trading days, totaling over 300 million yuan [1][5] - The composition of the indices includes stocks with moderate dividend payout ratios, positive growth in earnings per share, high dividend yields, and low volatility, with significant representation from the banking, transportation, and construction industries, accounting for approximately 70% [5][7] Group 2 - The 恒生红利低波ETF tracks the 恒生港股通高股息低波动指数, which consists of 50 liquid stocks that have a history of continuous dividends and moderate payout ratios, reflecting high dividend levels and low volatility [6][7] - The 中证红利价值指数 is tracked by another ETF, which includes 50 stocks characterized by high dividend yields and value traits, contributing to the overall performance of the market [8][9]

截至午间收盘，中证红利低波动指数上涨0.3%，中证红利指数上涨0.2%，中证红利价值指数上涨0.1%，恒生港股通高股息低波动指数下跌0.4%，恒生红利 低波ETF（159545）半日获净申购2100万份。截至昨日，该产品规模达41亿元、创历史新高。 0. 3% 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 目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、 能源行业占比近70% 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 沂70% 截至午间收盘 该指数涨跌 截至午间收盘 该指数涨跌 -0. 4% 红利价值ETF 跟踪中证红利价值指数 该指数由50只股息率高且价值特征 截至午间收盘 六七米山北 每日经济新闻 ...

Group 1 - The Hang Seng High Dividend Low Volatility ETF tracks the Hang Seng Stock Connect High Dividend Low Volatility Index, which consists of 50 stocks with good liquidity, continuous dividends, moderate dividend payout ratios, and low volatility, reflecting the overall performance of high dividend and low volatility companies in the Stock Connect range [4] - The index is heavily weighted towards the financial, industrial, and energy sectors, which together account for nearly 70% of the index [4] - The China Securities High Dividend Value Index consists of 50 stocks with high dividend yields and prominent value characteristics, reflecting the overall performance of high dividend and value stocks, with the banking, coal, and transportation sectors making up about 80% of the index [6] Group 2 - As of the midday close, the Hang Seng High Dividend Low Volatility Index increased by 0.5% with a rolling price-to-earnings ratio of 8.3 times [2] - The China Securities High Dividend Value Index rose by 0.4% with a rolling price-to-earnings ratio of 7.74 times [6] - The dividend yield for the indices is calculated based on the sum of the last 12 months' cash dividends (pre-tax) divided by the market value of the stocks [6]

Group 1 - The core indices related to dividend-paying stocks showed positive performance, with the CSI Dividend Low Volatility Index rising by 0.9%, the CSI Dividend Value Index and CSI Dividend Index both increasing by 0.7%, and the Hang Seng High Dividend Low Volatility Index up by 0.5% as of midday close [1][5][7] - The Hang Seng Dividend Low Volatility ETF (159545) experienced a net subscription of 12 million units during the half-day trading session, indicating strong investor interest in related products [1][6] - The composition of the indices reflects a high level of dividend payments and low volatility among A-share listed companies, with the banking, transportation, and construction industries accounting for approximately 70% of the index [5][7] Group 2 - The Hang Seng Dividend Low Volatility Index consists of 50 stocks within the Hong Kong Stock Connect that are characterized by good liquidity, continuous dividend payments, moderate dividend payout ratios, and low volatility, with financial, industrial, and energy sectors making up nearly 70% of the index [7] - The CSI Dividend Value Index tracks 50 stocks that exhibit high dividend yields and value characteristics, contributing to the overall performance of dividend-paying stocks [9]

Group 1 - The Hang Seng Dividend Low Volatility ETF tracks the Hang Seng Stock Connect High Dividend Low Volatility Index, which consists of 50 stocks with good liquidity, continuous dividends, moderate dividend payout ratios, and low volatility, reflecting the overall performance of high dividend and low volatility companies in the Stock Connect range [4] - As of the midday close, the index increased by 0.3% with a rolling price-to-earnings ratio of 7.1 times [4] - The China Securities Dividend Value ETF tracks the China Securities Dividend Value Index, composed of 50 stocks with high dividend yields and prominent value characteristics, reflecting the overall performance of high dividend and value stocks, with banking, coal, and transportation industries accounting for approximately 80% [4] Group 2 - As of the midday close, the index increased by 0.4% with a rolling price-to-earnings ratio of 7.6 times [4] - The dividend yield is calculated as the sum of the last 12 months' cash dividends (pre-tax) divided by the market value of the stock [4] - The management fee for low-fee products is 0.15% per year, and the custody fee is 0.05% per year [5]

Group 1 - The core indices, including the China Securities Dividend Low Volatility Index, China Securities Dividend Value Index, and China Securities Dividend Index, all increased by 0.7% as of the midday close [1][5] - The Hang Seng Dividend Low Volatility ETF (159545) has seen net inflows for 20 consecutive trading days, with its product scale reaching nearly 3.8 billion, setting a new record since its inception [1] - The composition of the indices reflects high dividend levels and low volatility among A-share listed companies, with the banking, transportation, and construction decoration industries accounting for a combined 70% [5] Group 2 - The Hang Seng Dividend Low Volatility ETF tracks the Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index [6] - This index consists of 50 stocks within the Hong Kong Stock Connect that have good liquidity, continuous dividends, moderate dividend payout ratios, and low volatility, with the financial, industrial, and energy sectors making up nearly 70% [7] - The Dividend Value ETF tracks the China Securities Dividend Value Index, which is composed of 50 stocks characterized by high dividend yields and value traits [9]