---
title: "The Shanghai Composite Index returns to 4,000 points, with performance growth concepts leading the rise! Institutions: Under the calendar effect, the winning rate of dividend assets in April exceeds 90%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282620249.md"
description: "On April 14th, the Shanghai Composite Index returned to 4,000 points, with performance growth concepts leading the rise. Companies like HGTECH and CNRE showed impressive results in their first-quarter reports. Industrial Securities pointed out that the \"calendar effect\" in April is closely related to the A-share dividend cycle and institutional fund behavior, with the market focusing on high-performing stocks. The win rates for the dividend index in April, May, and November are 91%, 73%, and 82%, respectively. The China Merchants CSI All Share Dividend Quality ETF (159209) performed excellently, with a cumulative increase of 622.24% since 2013, significantly outperforming other dividend indices"
datetime: "2026-04-14T02:49:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282620249.md)
  - [en](https://longbridge.com/en/news/282620249.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282620249.md)
---

# The Shanghai Composite Index returns to 4,000 points, with performance growth concepts leading the rise! Institutions: Under the calendar effect, the winning rate of dividend assets in April exceeds 90%

On April 14th, the Shanghai Composite Index returned above 4,000 points, with performance forecast increase concepts leading the gains. Companies such as HGTECH, CNRE, Huadian Technology, and Kingsoft Office reported impressive first-quarter results.

Looking back at the performance of A-shares since 2015, the dividend index has a winning rate of 91%, 73%, and 82% in April, May, and November, respectively.

Xingye Securities analysis believes that the "calendar effect" is not a coincidence; it is closely related to the unique dividend cycle of A-shares and the behavior of institutional funds. On one hand, as April arrives and A-shares begin to disclose financial reports, the market will further focus and narrow down on high-performing stocks with strong earnings certainty; on the other hand, the annual dividend payout days for A-shares are concentrated from May to July. To obtain cash dividends, investors often "grab rights" by buying before the ex-dividend date, thus supporting the stock prices of high-dividend components. Meanwhile, market expectations for semi-annual report performance also begin to heat up, further boosting bullish sentiment.

The China Merchants CSI All Share Dividend Quality ETF (159209) tracks the CSI Dividend Quality Index, combining innovative indices of dividend factors and quality factors, covering 50 stocks with stable dividends, relatively high dividend yields, and strong earnings sustainability, striving to achieve a balance between dividend yield requirements and growth. As of April 10th, the CSI Dividend Quality Total Return Index has accumulated a rise of 622.24% since the base date of December 31, 2013, significantly outperforming the CSI Dividend Total Return (320.78%) and Dividend Low Volatility Total Return (324.13%), validating the effectiveness of the quality factor.

### Related Stocks

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- [159209.CN](https://longbridge.com/en/quote/159209.CN.md)

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