Spread Reaches 2.95%! "Safety Cushion" Attribute Stands Out, ZhongZheng Dividend ETF (515080) Attracts Nearly 600 Million in Massive Inflows for 5 Consecutive Days!

On March 13, the A-shares market experienced a volatile rise and then a pullback in the morning session. The CSI Dividend ETF (515080) opened higher and then slightly declined, falling 0.18% as of the writing. Among its constituent stocks, gains and losses were mixed; China Ping An, CITIC Bank, and Zangge Mining rose over 2%, while Guanghui Energy, Yankuang Energy, and CNOOC led energy stocks lower.

Fund inflows are significantly increasing.

Data shows that the CSI Dividend ETF (515080) had net subscriptions of over 90 million yuan on the previous trading day, and has now consecutively attracted nearly 6 billion yuan over five days.

In terms of news, the Shanghai Stock Exchange recently stated that it will deepen comprehensive reforms in the capital market’s investment and financing system, emphasizing the “quality improvement, efficiency enhancement, and return focus” initiative. It will guide listed companies to strengthen dividend payouts and buybacks, improve governance, and refine incentive and restraint mechanisms. This marks a policy tone from regulators following the new five-year plan and high-level meetings, aiming to enhance the return mechanism for A-share investors, potentially further unlocking long-term allocation value.

Guotai Haitong suggests that, from the impact of foreign conflicts, A-shares are relatively more independent. However, during conflict outbreaks, defensive sectors such as agriculture, utilities, and others tend to rise, while non-bank financials and growth styles perform better during easing periods.

In terms of allocation, the Middle East geopolitical conflicts may continue to reinforce inflation narratives based on energy security in the short term. Domestically, major meetings have set the tone for new productive forces and expanding domestic demand as core strategies, potentially creating structural opportunities for cyclical and defensive sectors.

Data shows that the CSI Dividend ETF (515080) tracks the benchmark dividend asset index— the CSI Dividend Index. It mainly selects 100 stocks with high cash dividend yields, a dividend continuity of three years or more, and certain scale and liquidity, weighted by dividend yield, reflecting the overall performance of high-dividend stocks in the A-share market.

Additionally, in a low-interest-rate environment, the “safety cushion” attribute of high-dividend sectors becomes increasingly prominent. Data indicates that as of March 13, the latest dividend yield of the CSI Dividend Index reached 4.76%, compared to the 10-year government bond yield of 1.81%, with an interest spread of 2.95%.

Risk warning: Funds are subject to risks; investment should be cautious.