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且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、煤炭、交通运输行业合计占比超60% 論 恒生港股通高股息低波动指数 大盘今日集体调整，红利板块跌幅相对较小，恒生红利低波ETF（159545）全天净申购超2000万份。从周维度看，中证红 利低波动指数下跌2.3%，恒生港股通高股息低波动指数下跌3.0%，中证红利价值指数下跌3.1%，中证红利指数下跌3.7%， 恒生红利低波ETF（159545）本周前四日连续"吸金"，合计近2亿元。 据悉，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，恒生红利低波ETF（159545）、红利ETF易方达 （515180）、红利低波动ETF（563020）、红利价值ETF（563700）等产品管理费率均为0.15%/年，可助力投资者低成本布 局高股息资产。 | | 中证红利 | 中证红利低 | 恒生养股通 | 中证红利价 | | --- | --- | --- | --- | --- | | | 指数 | 波动指数 | 高股息低波 动指数 | 值指数 | | ...

A股早盘震荡走低，双创板块跌幅居前，红利板块跟随市场调整，恒生港股通高股息低波动指数跌逾 1%，恒生红利低波ETF（159545）盘中净申购超1700万份。 （文章来源：每日经济新闻） 有券商表示，继9月初算力板块交易过热见顶后，市场进入牛市整理期，呈现资金高切低、指数横盘、 缩量轮动的特征。但总体上牛市逻辑仍在，一方面资本市场改革进入深水区，另一方面结构性景气提供 支撑，资金面充裕，下修幅度或有限。中期配置方面，风格切换已经开始，短期关注"反制+避险"，年 底建议关注红利风格。 据悉，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，恒生红利低波ETF （159545）、红利ETF易方达（515180）、红利低波动ETF（563020）、红利价值ETF（563700）等产 品管理费率均为0.15%/年，可助力投资者低成本布局高股息资产。 Wind数据显示，近期市场持续调整，红利板块成了资金"避风港"。截至11月20日，恒生红利低波ETF （159545）11月以来连续获资金净流入，累计吸金逾12亿元，产品规模为54.3亿元，创下历史新高。 ...

今日早盘，市场震荡走弱，高股息资产跌幅相对较小，截至午间收盘，中证红利低波动指数、中证红利价值指数均下跌1.2%，中证红利指数下跌1.4%，恒 生港股通高股息低波动指数下跌1.5%，恒生红利低波ETF（159545）半日净申购约2000万份。Wind数据显示，该ETF月内连续获资金净流入，合计超12亿 元。 据悉，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，恒生红利低波ETF（159545）、红利ETF易方达（515180）、红利低波动ETF （563020）、红利价值ETF（563700）等产品管理费率均为0.15%/年，可助力投资者低成本布局高股息资产。 截至午间收盘 该指数涨跌 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 以及股息率高且波动率低的股票组 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% 1.2% 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 ...

今日早盘，银行股再度发力，石化、交运等高股息板块也有一定表现，带动红利类指数走强。截至午间收盘，中证红利低波动指数上涨1.3%，中证红 利价值指数上涨0.9%，中证红利指数上涨0.7%，恒生港股通高股息低波动指数上涨0.2%，恒生红利低波ETF（159545）半日净申购约1000万份。 | 恒生红利低波ETF ( √ | | | | 159545 | | --- | --- | --- | --- | --- | | 跟踪恒生港股通高股息低波动指数 | | | | | | 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 | 截至午间收盘 | 该指数 | 该指数自2017年 | 该指数股息率 | | 且波动率较低的股票组成,反映分 | 该指数涨跌 | 滚动市盈率 | 以来估值分位 | | | 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、 | 0. 2% | 7.8倍 | 89. 8% | 5.8% | | 能源行业占比超65% | | | | | 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈 ...

| 令日 | 该指数 | 该指数自2013年 | 该指 | | --- | --- | --- | --- | | 该指数涨跌 | 滚动市盈率 | 发布以来估值分位 | | | 0. 2% | 8.5倍 | 78. 2% | 4 | 截至收盘，中证红利价值指数上涨0.5%，恒生港股通高股息低波动指数上涨0.4%，中证红利指数、中证红利低波动指数均上涨0.2%，恒生红利低波 ETF（159545）全天净申购达3000万份。Wind数据显示，截至昨日，该ETF月内连续"吸金"，合计超11亿元。 据悉，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，恒生红利低波ETF（159545）、红利ETF易方达（515180）、红利低波动 ETF（563020）、红利价值ETF（563700）等产品管理费率均为0.15%/年，可助力投资者低成本布局高股息资产。 每日经济新闻 （责任编辑：刘畅 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请 读者仅作参考，并请自行承担全部责任。邮箱：news_cente ...

截至收盘，中证红利低波动指数下跌0.7%，中证红利指数下跌1.4%，中证红利价值指数下跌1.5%，恒生港股通高股息低波动指数下跌1.9%，恒生红利低波 ETF（159545）全天净申购约2000万份。Wind数据显示，该ETF月内连续"吸金"，合计超11亿元。 据悉，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，恒生红利低波ETF（159545）、红利ETF易方达（515180）、红利低波动ETF （563020）、红利价值ETF（563700）等产品管理费率均为0.15%/年，可助力投资者低成本布局高股息资产。 每日经济新闻 | 今日 | 该指数 | 该指数自2013年 | 该指 | | --- | --- | --- | --- | | 该指数涨跌 | 滚动市盈率 | 发布以来估值分位 | | | -0. 7% | 8.5倍 | 78. 2% | 4 | ...

Core Viewpoint - The Hong Kong stock market experienced a pullback today, while energy stocks such as coal and oil and petrochemicals rose against the trend, driving the Hong Kong dividend sector upward [1] Group 1: Market Performance - The Hang Seng High Dividend Low Volatility Index rose by 0.4% at market close [1] - The CSI Dividend Index and CSI Dividend Value Index both fell by 0.5%, while the CSI Dividend Low Volatility Index decreased by 0.8% [1] - The Hang Seng Dividend Low Volatility ETF (159545) saw a net subscription of approximately 50 million units throughout the day [1] Group 2: Fund Management and Fees - E Fund is currently the only fund company that implements low fee rates for all dividend ETFs [1] - The management fee rate for the Hang Seng Dividend Low Volatility ETF (159545), E Fund Dividend ETF (515180), Dividend Low Volatility ETF (563020), and Dividend Value ETF (563700) is set at 0.15% per year [1] - These low fees are designed to assist investors in cost-effective allocation to high dividend assets [1] Group 3: Index Composition - The E Fund Dividend ETF (515180) tracks the CSI Dividend Index, which consists of 100 stocks with high cash dividend yields and stable dividends, reflecting the overall performance of high dividend A-shares [3] - The banking, coal, and transportation sectors account for nearly 55% of the index, with the banking sector having a significant weight [3] - The index has a rolling price-to-earnings ratio of 8.7 times and a dividend yield of 4.2% [3] Group 4: Value Characteristics - The index consists of 50 stocks with high dividend yields and prominent value characteristics, reflecting the overall performance of high dividend and value stocks [6] - The banking, coal, and transportation sectors make up over 75% of the index [6] - The index has a rolling price-to-earnings ratio of 8.1 times and a dividend yield of 4.0% [6]

Core Viewpoint - The A-share market shows a trend of low opening and high closing, while the Hong Kong stock market experiences slight adjustments, indicating a potential shift in market funds from defensive to offensive strategies [1] Group 1: Market Performance - The Hang Seng Dividend Low Volatility ETF (159545) has ended its eight-day winning streak, slightly declining by 0.76% as of 11:01 AM, suggesting a potential opportunity for positioning [1] - As of November 12, the product scale of the Hang Seng Dividend Low Volatility ETF has surpassed 5 billion yuan, reaching 5.233 billion yuan [1] Group 2: Investment Trends - Approaching year-end, the dividend style is expected to outperform overall due to the mean reversion in the divergence of growth and value returns, benefiting dividend-oriented styles [1] - Institutional investors typically seek stable returns towards the end of the year, which may lead to a shift towards more conservative dividend styles [1] - By 2026, many insurance funds are expected to face a demand for reduced volatility due to new accounting standards, potentially driving funds towards high-dividend Hong Kong stocks [1] Group 3: Company Information - E Fund is currently the only fund company that implements low fee rates for all dividend ETFs, with management fees for products like the Hang Seng Dividend Low Volatility ETF (159545) set at 0.15% per year, facilitating low-cost investment in high-dividend assets [2]

Group 1 - The Hong Kong dividend sector continues to rise, with the Hang Seng High Dividend Low Volatility Index up 0.6%, potentially achieving an "eight consecutive days" increase [1] - The Hang Seng Dividend Low Volatility ETF (159545) has seen a net subscription of nearly 150 million units during the day, with a total net inflow of approximately 750 million yuan over the past nine trading days [1] - Analysts suggest that the dividend style may continue to outperform as the market shifts from extreme growth trading to a mean reversion in growth value returns, benefiting dividend styles [1] Group 2 - Institutional investors are likely to shift their holdings towards dividend and stable styles due to the demand for steady returns at year-end [1] - Insurance funds are facing a transition to new accounting standards, which may drive a demand for lower volatility assets, further pushing funds towards dividend styles [1] - According to Guotai Junan Securities, dividend assets are expected to outperform relative returns amid significant market volatility due to multiple uncertainties [1] Group 3 - The valuation of Hong Kong dividend assets offers a higher dividend yield advantage compared to A-shares [1] - There is an anticipated increase in demand for dividend asset allocation from insurance funds in the fourth quarter, supported by a backdrop of easing overseas liquidity [1] Group 4 - E Fund is currently the only fund company that implements low fee rates for all dividend ETFs, with management fees for various products set at 0.15% per year [2] - This low-cost structure aids investors in efficiently allocating to high dividend assets [2]

Core Viewpoint - The dividend sector is experiencing mixed performance, with the CSI Dividend Low Volatility Index slightly up by 0.1%, while the CSI Dividend Value Index and CSI Dividend Index both down by 0.4%, and the Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index down by 0.5% [1] Group 1: Market Performance - As of the midday close, the CSI Dividend Low Volatility Index increased by 0.1% [3] - The CSI Dividend Value Index and CSI Dividend Index both decreased by 0.4% [3] - The Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index fell by 0.5% [3] Group 2: Fund Flows - The Hang Seng Dividend Low Volatility ETF (159545) saw a net subscription of over 150 million units in half a day [1] - This ETF has experienced net inflows for eight consecutive trading days, totaling over 500 million yuan [1] Group 3: Index Composition - The CSI Dividend Index consists of 100 stocks with high cash dividend yields and stable dividends, with banking, coal, and transportation sectors accounting for nearly 55% [3] - The CSI Dividend Low Volatility Index is composed of 50 stocks with good liquidity and continuous dividends, with banking, transportation, and construction sectors making up over 65% [3] - The Hang Seng Dividend Low Volatility Index includes 50 stocks with moderate dividend payout ratios and low volatility, with financial, industrial, and energy sectors exceeding 65% [3]