Core Viewpoint - The article highlights the resilience of the Dividend Low Volatility ETF (512890) amidst a declining A-share market, showcasing its appeal as a risk-averse investment option due to its "high dividend + low volatility" strategy [1][4]. Performance Summary - Since its inception on December 19, 2018, the Dividend Low Volatility ETF has achieved a total return of 137.40% as of September 3, 2025, outperforming its benchmark and the CSI 300 index, ranking 53rd among 502 similar products [1][3]. - The ETF's assets under management have reached 20.678 billion yuan, making it the first of its kind in China to surpass this threshold [1]. Investment Strategy - The ETF tracks the CSI Dividend Low Volatility Index, which selects 50 stocks based on criteria such as liquidity, consistent dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility [4]. - The dual-factor approach of "dividend" and "low volatility" ensures the selection of financially healthy companies with stable cash returns, making it particularly advantageous during market downturns [4]. Fund Inflows and Holder Structure - The ETF has seen significant capital inflows, with a net inflow of 198 million yuan in the past five days and 2.687 billion yuan over the last 60 days [5]. - As of mid-2025, the number of holders has surged to 62,272, a 25-fold increase from mid-2022, indicating a growing market recognition and appeal [5][6]. Institutional vs. Individual Investors - Institutional investors dominate the ETF's holdings, maintaining over 80% of the total shares, while individual investors have increased their share from 0.059 billion yuan in mid-2022 to 2.931 billion yuan by mid-2025 [6][7]. - This shift reflects a trend where individual investors are moving away from speculative trading towards stable dividend-yielding assets [6]. Future Outlook - The long-term value of the Dividend Low Volatility strategy is being reassessed in light of declining traditional fixed-income asset attractiveness, positioning it as a viable alternative for investors seeking higher returns with controlled risk [10]. - The article suggests that investors should focus on undervalued sectors with policy support or improving fundamentals, as these areas may offer greater rebound potential in a fluctuating market [10].

Group 1 - The Hong Kong technology sector is experiencing a rebound, driven by increased trading activity in the Hang Seng Tech ETF (513130), which has reached a scale of 34.1 billion yuan and a trading volume of 5.87 billion yuan as of the morning close on August 25 [1] - The strength in the Hong Kong tech sector is attributed to rising expectations for a Federal Reserve interest rate cut in September, following comments from the Fed Chair indicating increased downside risks to employment [1] - The Hang Seng Tech ETF focuses on companies with strong R&D capabilities in the tech sector, including software services, retail, automotive, and media, making it sensitive to changes in interest rates [1] Group 2 - Since July 28, the Hang Seng Tech ETF has seen continuous weekly net subscriptions, with inflows of 3.068 billion yuan, 618 million yuan, 856 million yuan, and 1.527 billion yuan, leading to a record high scale of 34.1 billion yuan [1] - The average daily trading volume of the Hang Seng Tech ETF reached 5.269 billion yuan in the week of August 18-22, significantly higher than the year-to-date average of 4.830 billion yuan [1] - The current price-to-earnings ratio of the Hang Seng Tech Index is 21.77, which is at a low percentile compared to the past five years, indicating potential upward momentum in a more accommodative liquidity environment [1]

近期，港股科技龙头中报业绩进入密集披露期，部分龙头企业业绩大超市场预期，有望强化和验证 Al赋能业务、驱动盈利的发展逻辑，相关产品的投资价值受到关注。（数据来源：香港交易所，截至 2025年8月14日）其中Wind数据显示，布局港股科技板块的人气品种恒生科技ETF（513130）8月14日成 交额明显放量达53.8亿元，环比涨幅达44.65%。 恒生科技ETF（513130）紧密跟踪的恒生科技指数是港股科技的代表性指数之一，集结了一众互联 网及制造业科技龙头，围绕Al产业链布局，涵盖了零售、软件服务、汽车、传媒、半导体等行业，软科 技与硬科技属性兼具，前五大成分股为腾讯控股、阿里巴巴-W、网易-S、小米集团-W、中芯国际，均 为在Al浪潮中发挥重要作用的企业。（指数前五大成分股及数据来源：恒生指数公司，Wind，截至 2025年8月14日，涉及个股仅供展示指数前五大成分股，非个股推荐，也不构成任何投资建议） 拉长时间来看，今年以来港股科技板块始终为资金抢筹的板块之一，其中跟踪恒生科技指数的ETF 今年以来合计吸金超320亿元，其中恒生科技ETF（513130）单只产品累计获74.51亿元资金加仓，是所 有跟踪 ...

资金悄然布局！红利低波ETF(512890)基金规模与 份额连续两周实现周度净增长 今年以来（25/1/1-25/3/25）红利风格整体承压，然而伴随着本轮调整，红利类资产投资价值或有所 提升，逐渐吸引更多资金关注。交易所数据显示，红利ETF（510880）、红利低波ETF（512890）2025 年3月26日早盘收盘成交额分别为1.9亿元、2.2亿元，较前一交易日放量显著。 2025年3月10日至3月25日，红利低波ETF（512890）基金份额与规模分别增长3.09亿份、7.92亿 元，均已连续两周（25/3/10-25/3/21）实现周度净增长，累计吸引3.64亿元资金布局。截至2025年3月25 日，红利ETF（510880）、红利低波ETF（512890）规模分别达222.34亿元、143.06亿元，是目前A股市 场仅有的两只百亿元规模的红利主题ETF产品。（资金流入数据来源：Wind，基金规模与份额数据来 源：交易所） 风险提示：基金有风险，投资需谨慎。基金管理公司不保证本基金一定盈利，也不保证最低收益， 基金过往业绩不能预示未来收益。市场有风险，投资需谨慎，风险自担。投资人在投资基金前应认真阅 ...