Group 1 - Insurance capital has significantly increased its holdings in the stock market, with a total of 732 listed companies held, amounting to approximately 1,011.3 million shares, an increase of 120.25 million shares from the previous quarter [1] - The preference for high dividend and low valuation stocks is particularly notable, with significant increases in holdings for companies like Agricultural Bank of China, Postal Savings Bank, Industrial and Commercial Bank of China, and Hualing Steel [1] - Insurance capital has expanded its investments in sectors such as banking, steel, real estate, media, and automotive, showing a sustained interest in dividend-paying assets [1] Group 2 - The "slow bull" market in A-shares is positively influencing the investment ecosystem of insurance capital, with a focus on high dividend assets reflecting a pursuit of stable returns and long-term investment value recognition [2] - The S&P China A-Share Dividend Opportunities Index, which tracks 100 high dividend companies, has a current dividend yield of 5.18%, with a yield spread of 3.37 percentage points over the latest 10-year government bond yield [2] - The S&P A-Share Dividend Index has outperformed similar dividend indices this year, with a return of nearly 15% and an annualized Sharpe ratio of 1.91, indicating significant advantages [2][3] Group 3 - The S&P Dividend ETF (562060) has been included as a financing and securities lending target, enhancing trading strategies and liquidity, with an average trading volume of 49.38 million yuan over the last three trading days [4] - Recent market volatility has led to increased capital inflow into the S&P Dividend ETF, with a net inflow of 7.565 million yuan over five days and a total of over 120 million yuan in the last ten days [4] Group 4 - In the context of increasing macroeconomic uncertainty and pressure on fixed-income asset yields, dividend assets are becoming a crucial "defensive shield" and a "ballast" for returns [5] - As the domestic economy transitions to a high-quality development phase, the market's pricing focus is shifting from growth expectations to dividend returns, aligning with trends in mature markets [5] - The long-term allocation of capital and policy support for dividends are establishing a solid foundation for the sustainability of dividend strategies [5] Group 5 - The S&P A-Share Dividend Total Return Index has achieved a cumulative return of 2,596.59% from 2005 to September 2025, with an annualized return of 17.64% [7] - The market may be entering a consolidation phase after the overheated trading in the computing power sector, making the S&P Dividend ETF a valuable asset for a balanced investment strategy [7]

11月10日，A股市场再度整固4000点，红利风格持续活跃为慢牛加码。"能追牛、能扛熊"的标普A股红 利指数收涨1.08%四连阳，10月以来累计涨幅已超7%（截至2025.11.10）。 热门红利ETF中，跟踪该指数的标普红利ETF（562060）"涛声依旧"，劲涨0.97%续创新高，强势冲击9 连阳，收于0.622元，盘中溢价频频。 2025年10月20日，标普红利ETF（562060）凭借规模以及流动性等优势首次纳入融资融券标的，不仅丰 富了交易策略，还提升了资金效率和流动性，近日交易活跃度持续上升，成交量持续温和放量，11月10 日成交额突破4000万元。凭借高股息"防御盾"成为资金长期配置底仓优选，持续获资金关注。交易所数 据显示，标普红利ETF（562060）连续2个交易日大举吸金超2643万元。 数据来源：沪深交易所等，截至2025.11.10。 | 序号 | 代码 | 名称 | 估算权重 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | | | 002083 | 录日股份 | 1.64% | 10.04% | | 2 | 001206 | 依依股份 | 0.93 ...