Core Viewpoint - The recent decline in major stock indices is attributed to multiple factors, including pre-holiday fund retraction, portfolio adjustments by fund managers, and new tariffs announced by the Trump administration, which have increased market uncertainty. The stable performance of the Dividend Low Volatility ETF (512890) highlights the defensive value of the "high dividend + low volatility" strategy in a volatile market [1]. Group 1: Market Performance - On September 26, the major stock indices collectively fell, with the ChiNext Index dropping over 2%. The Dividend Low Volatility ETF (512890) closed flat at 1.149 yuan, with a turnover rate of 1.73% and a transaction volume of 351 million yuan, leading its category [1]. - The ETF has shown significant liquidity, with a cumulative transaction amount of 8.506 billion yuan over the last 20 trading days, averaging 425 million yuan daily. Since the beginning of the year, it has reached a total transaction amount of 75.503 billion yuan over 181 trading days, maintaining a high level of activity among similar products [3]. Group 2: Fund Inflows and Yield - The Dividend Low Volatility ETF (512890) has seen net inflows of 189 million yuan over the last 5 trading days and 395 million yuan over the last 20 trading days. Over a 60-day period, net inflows reached 1.595 billion yuan, reflecting strong market demand for stable yield assets in a low-interest-rate environment [3]. - As of July 2025, the dividend yield of the CSI Dividend Index was 6.37%, surpassing the 10-year government bond yield by 4.69 percentage points, emphasizing its "quasi-bond" characteristics [3]. Group 3: Fund Performance and Strategy - The Huatai-PineBridge Dividend Low Volatility ETF (512890), established in December 2018, has achieved a cumulative return of 129.50% as of September 25, 2025, outperforming its benchmark and ranking in the top 20% among 502 similar products [4]. - The ETF has consistently delivered positive returns for six consecutive years from 2019 to 2024, making it one of the few A-share market ETFs to achieve this "annual positive return full mark" [4]. - Analysts emphasize that dividend assets will remain a key investment direction in the medium to long term, driven by high demand for high-probability investments and the scarcity of high-growth sectors in the current market [4]. Group 4: Investment Recommendations - Experts recommend that ordinary investors consider the Dividend Low Volatility ETF (512890) as a core component for stable returns in their asset allocation, suggesting a systematic investment approach to mitigate short-term volatility [5].