First, the dividend index has investment value.
Recent research on monarch strategy shows that:
The high dividend strategy began to enter the configuration buying range. On the whole, the dividend yield of CSI dividend index has surpassed one-year AAA rated short-term notes/corporate bonds by nearly 40bp, and the gap with one-year AAA rated yield has also narrowed to -33bp. High dividend strategy begins to enter the buying range, and dividend rate investment is expected to become an important "value anchor" in the process of market bottoming.
Haitong's policy and strategy team believes that:
Compared with large-scale assets and emotional indicators, stocks with high dividend yield are more attractive than national debt and wealth management. At the current valuation level, the probability of positive returns of CSI 300 in the next three years is 88.7%.
In fact, not only the CSI dividend, but also other dividend indexes have entered an undervalued state.
It is said that the dividend index is good, so how to choose these dividend index funds? The key is to choose the index first. Many investors may not know the difference between many dividend indexes. Below the author will talk about the interval between these indicators.
Second, the dividend index, which is better?
The CSI dividend index selects 100 stocks listed on Shanghai Stock Exchange and Shenzhen Stock Exchange as samples, which have high cash dividend yield, relatively stable dividends and certain scale and liquidity, and reflects the overall situation and trend of high dividend stocks in the A-share market.
The deep dividend index is 40 stocks that Shenzhen Stock Exchange can provide investors with long-term stable returns. When compiling the index, we mainly refer to the frequency and quantity of dividends (including cash dividends and stock dividends). This kind of company is characterized by mature blue-chip stocks or growth stocks with strong dividend-paying ability. The constituent stocks of the index are mainly Vanke A, Gree Electric (00065 1, stock bar), Midea Group, Ping An Bank (0000 1, stock bar), Wuliangye (000858, stock bar), Guangfa Securities (000776, stock bar) and other high-quality companies.
The dividend index of Shanghai Stock Exchange (5 10880, Fund Bar) reflects the overall situation of 50 large and medium-sized stocks with high cash dividend rate and stable dividend, and provides reference for investors who are concerned about cash dividend of stocks.
Judging from the market value of index constituent stocks, the average market value of Shanghai Stock Exchange dividend constituent stocks is the largest, and the market value of CSI dividend constituent stocks is equivalent to that of Shenzhen Stock Exchange dividend constituent stocks. These three dividend indices are typical mid-cap dividend indices. In a sense, investors can regard CSI dividend as CSI 300 dividend. Of course, the long-term trends of these two indices are also highly similar.
From the historical performance, in the past nearly 10 years, the overall performance of several dividend indexes is:
Deep dividend > CSI dividend > SSE dividend;
3. Is the bonus opportunity a good bonus fund?
In addition to the funds corresponding to the above dividend index, many investors will be familiar with the dividend theme funds with dividend opportunities.
Bonus Opportunity Tracking S&P China A-share Bonus Opportunity Index. Compared with the CSI dividend, the S&P China A-share dividend opportunity index is compiled with growth in mind. About 70% of the constituent stocks of S&P China A-share dividend opportunity index are mid-cap stocks, and the average market value of these constituent stocks is closer to CSI 500, but smaller than the broader dividend index. From this perspective, the S&P dividend is regarded as a substitute for the 500 dividend index. In fact, the long-term trend of S&P dividend and 500 dividend is highly similar. Therefore, the growth market chooses the dividend fund, and the blue-chip market chooses the certificate to enhance the dividend? 》。
S&P China A-share dividend opportunity index fund is a favorite fund of many investors who know a little about the fund, mainly because S&P China A-share dividend opportunity index has performed well in history. However, historical performance and future performance are two concepts.
My personal opinion is that it may be the market maker's turn in the next 10 year, and the performance of Shenzhen Stock Exchange and China Stock Exchange may be better than that of S&P China A-share dividend opportunity index.
4. What are the incentive funds?
At present, funds tracking CSI dividend index include Dacheng CSI dividend, Guo Fu CSI dividend and Wanjia dividend. Among them, Guo Fu CSI Bonus (100032) stock index enhancement fund has a good long-term index enhancement effect. There are two funds that track the Shenzhen Stock Exchange dividend price index, namely ICBC Credit Suisse Shenzhen Stock Exchange ETF Link and Shenzhen Stock Exchange Index.
There are two dividend index ETFs in the on-site fund: 510880 dividend ETF and 159905 deep dividend ETF. The dividend ETF tracks the Shanghai Stock Exchange dividend, and the Shenzhen Stock Exchange dividend ETF tracks the Shenzhen Stock Exchange dividend index 159905. The aforementioned bonus fund (50 1029) is the LOF that tracks the dividend opportunity index of S&P China A shares.
I suggest you invest in dividend index fund.
Despite the short-term downturn in the market, I want to say that big investment opportunities are presented in a painful way. Judging from the valuation, it is very low. In the next two or three years, holding stocks is better than cash assets. ...
At the same time, because the process of bottoming is a long process, this process may last for half a year, a year or even longer. This is a good time to make a fixed investment.
There is nothing to say at this time, so let's continue to invest heavily. For the fixed investment, it is necessary not to be underestimated and not to be abandoned.