The market experienced a full day of volatile rebound, with the ChiNext Index and the Shenzhen Component Index both rising over 1%, while the Shanghai Composite Index gained 0.48%. Against this backdrop, the Low-Volatility Dividend ETF Huatai-PineBridge (512890) fell 0.42% to 1.178 yuan, with a turnover rate of 2.95% and a trading volume of 895 million yuan, ranking first among similar ETF products.
The latest periodic report indicates mixed performance among the top ten holdings of the Low-Volatility Dividend ETF Huatai-PineBridge (512890). These include Bank of Shanghai, Bank of Nanjing, Ping An Bank, Shanghai Rural Commercial Bank, China Resources Jiangzhong, CNOOC, PetroChina, China Minsheng Bank, Shangu Power, and Bank of Chengdu, with their respective portfolio weights as follows.
Regarding market developments, the disclosure of 2025 annual reports and profit distribution plans has concluded, with listed banks remaining the dominant force in A-share dividends. In 2025, 42 A-share listed banks set a new record for dividend payouts, distributing a total of 645.637 billion yuan (including interim dividends), an increase of nearly 13.5 billion yuan compared to 2024. Among them, the six major state-owned banks distributed a substantial 427.424 billion yuan, accounting for 66.2% of the total dividends from listed banks. Twenty-two banks achieved a dividend payout ratio of 30%, while 19 institutions saw their payout ratios increase year-over-year. The high dividend "moat" of bank stocks remains robust, but its focus is shifting from competing on ratio to competing on sustainability. Experts believe that future dividend strategies for small and medium-sized banks will prioritize sustainability over merely pursuing high ratios. For smaller banks with relatively limited capital replenishment channels, "preserving capital" may take precedence over "high dividends," and some banks might adjust their payout ratios downward or suspend dividends based on their specific circumstances.
Guotai Haitong Securities Co., Ltd. believes the upward momentum of the Chinese stock market is far from over and is expected to reach new highs. After the earnings season, market breadth is projected to expand significantly, and small to medium-sized thematic investments with industrial catalysts are also anticipated to present opportunities. Sector-wise, emerging technology remains the main theme, but value sectors will also have their moment. Recommended directions include power equipment and new energy vehicles/energy metals/engineering machinery; building materials/construction related to urban renewal; and sectors with gradually stabilizing domestic demand such as hotels/consumer staples/aviation. As an important market stabilizer, high-dividend stocks highlight their allocation value, with recommendations for banking and non-bank financial sectors.
As a stable tool for asset allocation in volatile markets, the Low-Volatility Dividend ETF Huatai-PineBridge (512890) was established on December 19, 2018, with its benchmark being the return of the CSI Dividend Low Volatility Index. As of May 6, 2026, it has delivered a five-year return of 62.34%, outperforming its benchmark. Investors can consider the Low-Volatility Dividend ETF Huatai-PineBridge (512890) as a core holding. Those without stock trading accounts can also access it through its corresponding feeder funds (Class A: 007466; Class C: 007467; Class I: 022678; Class Y: 022951).
Risk Warning: Funds carry risks, and investment requires caution. Past performance is not indicative of future results. Before making investment decisions, investors should carefully read the fund contract, prospectus, and other documents, and invest rationally based on their own risk tolerance.
The MACD golden cross signal has formed, and these stocks are performing well!
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