On May 26, the technology growth sector experienced a high-level correction, with a clear sign of funds switching to high-dividend directions. Data shows that as of May 25, the China Merchants CSI Dividend ETF (515080) has seen a net subscription of 1.428 billion yuan for 13 consecutive trading days, with the latest scale surpassing 10.4 billion yuan, setting a new high.
In terms of key indicators, as of yesterday, the CSI Dividend Total Return Index's 40-day return difference relative to the Wind All A Index is -14.55%, which may indicate that the CSI Dividend is currently underperforming the Wind All A significantly, suggesting a closer watch on its phase layout timing. The main internal logic of this indicator is &#34;mean reversion,&#34; used to measure the relative strength of excess returns of dividends compared to the market, which can be used for short- to medium-term timing reference for the dynamic allocation of dividend assets.
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In terms of dividend yield, as of May 25, the latest dividend yield of the CSI Dividend Index reached 5.05%, while the yield of ten-year government bonds during the same period was only 1.75%, highlighting the index's high dividend yield value with a spread of over 3 percentage points.
Statistics from Huatai Securities reveal that currently among the mainstream dividend indices in A-shares, the CSI Dividend has a relatively high index dividend yield over the past three years: the dividend yields for 2023, 2024, and 2025 are 6.20%, 5.04%, and 5.07%, respectively, and the dividend yield over the past 12 months also leads other dividend indices, making the high dividend value particularly prominent.
According to Caixin Securities Index, the market in mid to late May may still face multiple pressures such as technology stocks under pressure, rising geopolitical risks, and constraints from the interest rate environment, with the index likely to continue its oscillation and bottoming process, allowing for reasonable position control and a shift towards defensive strategies. Among them, high-dividend dividend assets, due to their robust cash flow, outstanding defensive attributes, and high dividend capability benefiting from energy price increases, are expected to become the most certain allocation direction in the current stage.
The China Merchants CSI Dividend ETF (515080) tracks the CSI Dividend, with the underlying index selecting 100 leading companies with ample cash flow, stable profits, and high dividend rates from both markets. Since its listing, it has distributed dividends 16 times consecutively and has adopted a quarterly assessment dividend mechanism in the past two years. As of the end of the first quarter, this ETF has achieved a cumulative return of 110.84% since its inception, with an excess return of 74.62% relative to the performance benchmark, demonstrating outstanding long-term excess returns and significant value in base asset allocation

515080

The 40-day return difference is -14.55%, releasing configuration signals, and the China Merchants CSI Dividend ETF (515080) scale has surpassed 10.4 billion yuan, setting a new record!

同壁财经

China Merchants CSI Dividend ETF

中证红利

HTSC

Huatai Securities Co., Ltd. GDR Class A RegS

The 40-day return difference of -14.55% releases configuration signals, and the China Merchants CSI Dividend ETF (515080) scale surpasses 10.4 billion yuan, setting a new record!