The Shanghai Composite Index regained and then lost 4,000 points! The scale of the Huatai-PB CSI Dividend Low Volatility ETF has surpassed 24.5 billion. Fund manager Liu Jun: The defensive nature of the dividend strategy is highlighted in the fourth quarter

On October 28th, the A-shares exhibited a fluctuating trend throughout the day, with all three major indices closing lower, and the Shanghai Composite Index losing and regaining the 4000-point mark. Against this backdrop, the Huatai-PB CSI Dividend Low Volatility ETF demonstrated strong resilience, closing flat at 1.198 yuan, with a turnover rate of 1.78% and a transaction volume of 436 million yuan, ranking first among similar ETFs. In terms of capital flow, the Huatai-PB CSI Dividend Low Volatility ETF continued to attract attention from investors. Specifically, in the past 10 trading days, there was a net inflow of 2.467 billion yuan, and in the past 20 trading days, a net inflow of 3.408 billion yuan. As of October 27, 2025, the circulating scale of the Huatai-PB CSI Dividend Low Volatility ETF was 24.55 billion yuan. Fund manager Liu Jun stated that looking ahead to the fourth quarter, the core variable affecting the performance of equity assets will focus on the changing trend of market risk appetite. Currently, we are in the period of third-quarter report disclosures, and external tariff disturbances, along with domestic economic recovery policies, will remain key factors influencing the market. Risk appetite may decline, and dividend strategies may exhibit stronger defensiveness. In the medium term, under the new round of fiscal stimulus cycle, dividend strategies are highly exposed in infrastructure and other stable growth-related sectors, becoming an important tool for both offensive and defensive positions. Everbright Securities also pointed out that important planning suggestions in terms of policy bring imaginative space to the market and boost trading sentiment; however, the current market still faces issues of insufficient trading volume and a lack of consensus among funds. In the short term, the market may "distinguish" direction and digest resistance amid fluctuations, while the outlook remains optimistic for the "dividend + technology" main line, with dividend styles likely to excel in terms of volatility. Investors may consider using the Huatai-PB CSI Dividend Low Volatility ETF as a stable income tool in their asset allocation, diversifying entry through methods such as regular investment. Investors without stock accounts can also allocate through its off-market connecting funds