The current dividend index has good investment value... 1. The dividend index already has investment value. Recent research by Guojun Strategy shows that high dividend strategies have begun to enter the allocation buying range.
Overall, the dividend return rate of the CSI Dividend Index has exceeded that of one-year AAA-rated short-term bills/corporate bonds by nearly 40bp, and the yield gap with the one-year AA-rated has also narrowed to -33bp.
High dividend strategies have begun to enter the allocation buying range, and dividend yield investment is expected to become an important "value anchor" in the process of market bottoming.
Haitong's policy strategy team believes that: judging from the comparison of major asset classes and sentiment indicators, high dividend yield stocks are more attractive than treasury bonds and financial management.
Under the current valuation level, the probability of positive earnings for the CSI 300 in the next three years is 88.7%.
In fact, not only CSI dividends, but other dividend indices have also entered a state of underestimation.
It is said that dividend index is good, so how to choose these dividend index funds.
The key is to choose the index first. Many investors may not be able to figure out the differences between the many dividend indexes.
Next, the author will talk about the range between these indexes.
2. Dividend index, which one is better?
The CSI Dividend Index selects 100 stocks listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange with high cash dividend rates, relatively stable dividends, and a certain scale and liquidity as samples to reflect the overall high dividend stocks in the A-share market.
conditions and trends.
The Shenzhen Dividend Index is a collection of 40 stocks in the Shenzhen Stock Exchange market that can provide investors with long-term stable returns; the index is compiled with the main reference to the frequency and quantity of dividends (including cash dividends and stock dividends). The characteristics of this type of company are mature blue chip stocks or
Growth stocks with strong dividend capabilities.
The index's constituent stocks are mainly high-quality companies such as Vanke A, Gree Electric Appliances (000651, Stock Bar), Midea Group, Ping An Bank (000001, Stock Bar), Wuliangye (000858, Stock Bar), GF Securities (000776, Stock Bar).
The Shanghai Stock Exchange Dividend (510880, Fund Bar) Index reflects the overall status of 50 large and medium-sized stocks with high cash dividend yields and stable dividends in the Shanghai securities market, and provides a reference for investors who pay attention to stock cash dividends.
Judging from the market value of index constituent stocks, the average market value of SSE dividend constituent stocks is the largest, and the market value of CSI dividend constituent stocks is equivalent to the average market value of SZSE dividend constituent stocks.
These three dividend indices are all typical mid- and large-cap dividend indices.
In a sense, investors can regard the CSI dividend as the CSI 300 dividend. Of course, the long-term trends of the two indexes are also highly similar.
From the perspective of historical performance, in the past 10 years, the overall performance of several dividend indexes is: Shenzhen Dividend > CSI Dividend > SSE Dividend; 3. Is the dividend opportunity a good dividend fund?
In addition to the funds corresponding to the above dividend indexes, many investors will be familiar with the dividend theme fund Dividend Opportunity.
Dividend Opportunities tracks the S&P China A Dividend Opportunities Index.
Compared with CSI Dividends, the S&P China A-Share Dividend Opportunities Index was compiled with growth in mind.
About 70% of the constituent stocks of the S&P China A-Share Dividend Opportunity Index are mid-cap stocks. The average market capitalization of these constituent stocks is closer to the CSI 500 and smaller than the large-cap dividend index.
From this perspective, the S&P Dividend is viewed as a substitute for the 500 Dividend Index.
In fact, the long-term trends of the S&P Dividend and 500 Dividend Index are highly similar.
Therefore, "Choose dividend funds in the growth market, and choose dividend funds in the blue-chip market?"
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The S&P China A-Share Dividend Opportunity Index Fund is a fund that many investors who know a little bit about funds like. The main reason is the historical performance of the S&P China A-Share Dividend Opportunity Index.
However, historical performance and future performance are two concepts.
My personal point of view is: it may be the turn of the big market players in the next 10 years, and Shenzhen Stock Exchange Dividends and CSI Dividends may perform better than the S&P China A-Share Dividend Opportunity Index.
4. What are the dividend funds?
Funds currently tracking the CSI Dividend Index include Dacheng CSI Dividend, Wells Fargo CSI Dividend, Wanjia Dividend and other funds.
Among them, the Wells Fargo CSI Dividend (100032) stock index enhanced fund has a good long-term index enhancement effect.
There are two funds that track the Shenzhen Stock Exchange Dividend Price Index: ICBC Credit Suisse Shenzhen Stock Exchange Dividend ETF Link and Shenzhen Dividend.
Among on-market funds, there are two dividend index ETFs: 510880 Dividend ETF and 159905 Deep Dividend ETF.
The dividend ETF tracks the Shanghai Stock Exchange dividend, and the 159905 Deep Dividend ETF tracks the Shenzhen Stock Exchange Dividend Index.
The dividend fund (501029) mentioned earlier is LOF, which tracks the S&P China A-Share Dividend Opportunity Index.
5. I recommend everyone to invest in dividend index funds. Despite the short-term market downturn, the author wants to say that big investment opportunities often present themselves in painful ways.