Recent escalations in geopolitical risks and oil price-induced stagflation expectations have led to overall volatility in global capital markets. Defensive assets, particularly dividend-focused investments, showed signs of recovery during the early trading session today. Among these, low volatility dividend assets, characterized by their high dividend yields and low volatility factors, have strengthened their role as core portfolio holdings, becoming a key allocation choice for investors seeking counter-cyclical opportunities.
According to Wind data, the popular Hua Tai Bai Rui Low Volatility Dividend ETF (512890) attracted capital against the market trend, with accumulated inflows of approximately 1.4 billion yuan over the past 11 trading sessions, ranking among the top of similar ETFs. Its latest single-day trading volume surged to 1.444 billion yuan, a 109% increase from the previous period. The fund's size has climbed to 30.5 billion yuan, making it the first and currently only dividend-themed ETF to exceed 30 billion yuan in scale. The fund's shares reached 26.4 billion, setting a new historical record.
Caixin Securities pointed out that recent overseas macroeconomic events have amplified uncertainties, leading to increased "stagflation-like" trading activity. It is anticipated that a clear trend in the market may still require time to materialize, with wide fluctuations likely to persist until the end of April. Investors may consider focusing on high-dividend assets and the "HALO trade" concept during market dips.
Against the backdrop of weak domestic economic momentum and continued expectations for monetary easing, the low level of risk-free interest rates is expected to further highlight the strategic value of dividend assets as foundational portfolio components. Currently, the yield on the 10-year government bond stands at 1.83%, and the spread between this yield and the dividend yield of the low volatility dividend index remains higher than 62.92% of the levels observed over the past decade.
Hua Tai Bai Rui Fund, as one of China's earliest ETF managers, has nearly two decades of experience in index investing. Recently, the company completed the standardized naming of all its ETF products, establishing a comprehensive "ETF Hua Tai Bai Rui" brand matrix to help investors quickly identify its specialized offerings. In terms of fees, 77.8% of the company's ETF assets under management adopt the lowest tier fee structure available in the market for equity index funds, with an annual management fee of 0.15% and a custody fee of 0.05%.
Latest exchange data shows that the combined size of five dividend-themed ETFs under Hua Tai Bai Rui has reached 51.9 billion yuan, accounting for over a quarter of the total market size of dividend-focused ETFs. This forms a distinctive "dividend suite" product lineup within the industry. According to fund periodic reports, as of the end of 2025, this series of products had cumulatively generated 9.879 billion yuan in profits for holders.
Among these, the Hua Tai Bai Rui Dividend ETF (510880), as the first dividend-themed index fund in the A-share market, has distributed 5.18 billion yuan in dividends since its inception 19 years ago. The Hua Tai Bai Rui Low Volatility Dividend ETF (512890) is currently the first and only low volatility dividend-themed ETF in the market with assets exceeding 30 billion yuan. The Hua Tai Bai Rui Central Enterprise Dividend ETF (561580) is the first dual-themed ETF in the A-share market combining "central enterprises" and "dividends." Additionally, the Hua Tai Bai Rui Hong Kong Stock Connect Dividend ETF (513530) and the Hua Tai Bai Rui Hong Kong Stock Connect Low Volatility Dividend ETF (520890) focus on high-dividend assets in Hong Kong stocks. The former utilizes a QDII structure, offering certain advantages in Hong Kong dividend tax treatment, while the latter incorporates a low volatility factor, enhancing its defensive characteristics in the more volatile Hong Kong market.
In the realm of pension investment, the Hua Tai Bai Rui Low Volatility Dividend ETF Link Y (022951) has also demonstrated strong performance. By the end of 2025, the fund's size reached 448 million yuan, making it the first Y-share index fund in the market to exceed 400 million yuan. Its annual growth rate was as high as 886%, and it ranked among the top in its category for five consecutive quarters. It was the only Y-share index fund with over 20,000 holder accounts as of the mid-year fund report period in 2025, underscoring its appeal in personal pension allocations.