# Strengthened Core Position Allocation in High-Dividend Assets Under Defensive Needs, Outstanding Attractiveness of Dividend-Themed ETF Benchmark Products

Since March 2026, market volatility has continued to increase. Geopolitical disturbances, long-term U.S. Treasury yields abroad, and the rebound of the U.S. dollar index may have collectively strengthened the defensive nature of high-dividend assets, leading to a warming trend in dividend styles. Meanwhile, on March 10, 2026, the Shanghai Stock Exchange explicitly stated that it will further guide listed companies to strengthen dividend payments and share repurchases, promote improved corporate governance, and lay a policy foundation for long-term allocation of dividend-related assets.

According to company announcements, as of March 15, 2026, out of 98 A-share listed companies that disclosed their 2025 annual reports, 70 plan to pay cash dividends, with a total dividend amount of 70.5 billion yuan. As more companies enter the annual report disclosure period, the accompanying dividend plans or proposals are expected to continue boosting attention to dividend assets.

Recent capital flows show that the two flagship dividend-themed ETFs in Huatai-PineBridge’s “Dividend Family” — the Huatai-PineBridge Low-Volatility Dividend ETF (512890) and the Huatai-PineBridge Dividend ETF (510880) — have seen a significant increase in interest. As of March 16, they were both consecutively supported by funds for two trading days, attracting a net inflow of 400 million yuan and 260 million yuan, respectively. Additionally, the market’s first central enterprise dividend-themed ETF — the Central Enterprise Dividend ETF Huatai-PineBridge (561580) — remains actively traded and is the only product in the past week to attract over 140 million yuan among all central enterprise dividend ETFs.

Currently, the domestic economy’s endogenous growth momentum is relatively weak, and monetary easing remains the main trend. In a low-risk-free rate environment and amid an asset shortage, dividend assets are likely to become an ideal core holding for more medium- and long-term funds. The current 10-year government bond yield is 1.81%, and the yield spreads between the low-volatility dividend index, dividend index, and central enterprise dividend index remain higher than the 10-year averages of 61.36%, 56.62%, and 69.41%, respectively.

Driven by the Huatai-PineBridge Low-Volatility Dividend ETF (512890) and the Huatai-PineBridge Dividend ETF (510880), as of March 16, 2026, the Huatai-PineBridge “Dividend Family” series of five ETFs has become a dividend strategy investment ecosystem with a total scale of 52.975 billion yuan, accounting for over a quarter of the total market size of all dividend-themed ETFs. These funds have collectively earned 9.879 billion yuan in profits for their holders.

Among them, the Huatai-PineBridge Dividend ETF (510880) is the first dividend-themed index fund in A-shares, with a total of 5.18 billion yuan in dividends over 19 years; the Huatai-PineBridge Low-Volatility Dividend ETF (512890) is the first and currently the only dividend low-volatility ETF in the market with assets exceeding 30 billion yuan; the Central Enterprise Dividend ETF Huatai-PineBridge (561580) is the first “central enterprise + dividend” dual-theme ETF in A-shares; the Hong Kong Stock Connect Dividend ETF Huatai-PineBridge (513530) and the Hong Kong Stock Connect Low-Volatility Dividend ETF Huatai-PineBridge (520890) focus on high-dividend assets in Hong Kong stocks. The former uses a QDII model and has certain advantages in Hong Kong dividend tax, while the latter incorporates a low-volatility factor, enhancing its defensive properties in the more volatile Hong Kong market.

As the Huatai-PineBridge “Dividend Family” becomes a popular choice for investors building dividend asset portfolios, the Huatai-PineBridge Low-Volatility Dividend ETF (512890) off-market connection fund, Huatai-PineBridge Low-Volatility Dividend ETF Connection Y (022951), is also favored by individual pension investors. By the end of 2025, its fund size reached 448 million yuan, making it the first index fund Y-share to surpass 400 million yuan, and it has ranked among the top in all “Index Y” funds for five consecutive quarters (from 2024/12/31 to 2025/12/31). Its scale increased by 886.43% compared to the end of 2024, and it is currently the only product with over 20,000 unit holders among all Index Y shares.

Risk reminder: Funds are subject to risks; investments should be cautious. Fund management companies do not guarantee profits or minimum returns, and past performance is not indicative of future results. The market carries risks; investments should be made cautiously and at your own risk. Investors should carefully read the Fund Contract, Prospectus, and other legal documents before investing, fully understand the risk-return characteristics of the fund, and make independent investment decisions based on their risk tolerance, investment horizon, and objectives, choosing suitable fund products.