Up 1.93%! The S&P A Dividend ETF Huabao (562060) strengthened intraday, and under the "quasi-stagflation" logic, dividend defensiveness may further become prominent.

On the morning of March 24, market volatility increased again, and the dividend style made a return, with bank and other high-dividend sectors performing relatively better. A batch of popular high-dividend, low-valuation stocks such as Action Education, Weichai Power, Tapai Group, Ping An Bank, CITIC Bank, Guangdong Expressway A, China National Materials International, Sichuan Chengyu, Jiangsu Bank, and Changhong Huayi took turns rising, with gains exceeding 3%. The high-dividend popular target—S&P A Dividend ETF Huabao (562060)—strengthened significantly during the session, with the intraday price up 1.93% at the time of writing, demonstrating defensive qualities. The real-time trading volume approached 40 million yuan, indicating active trading.

Data source: Shanghai and Shenzhen Stock Exchanges, as of 2026.3.24, 10:39 AM

Notably, as of March 23, 2026, the S&P A Dividend ETF Huabao (562060) has experienced net fund inflows of over 300 million yuan for five consecutive trading days; over the past ten trading days, total inflows have exceeded 1.2 billion yuan, with the latest scale surpassing 4.3 billion yuan, setting a new record high.

Data source: Shanghai and Shenzhen Stock Exchanges, etc., as of 2026.3.23

A research report from Caixin Securities pointed out that the current global trading logic is evolving in two stages of “stagflation-like” conditions:

• Stage One: Inflation-driven trading dominates, with energy and price-sensitive sectors performing well, but long-duration assets (such as growth stocks) are suppressed by inflation and rising discount rates.
• Stage Two: Expectations of slowing economic growth ferment, and safe-haven assets like gold, dividend assets, and bonds benefit from rate cut expectations and perform better.

The market may still be in the first stage. If geopolitical conflicts continue to intensify, the market could accelerate its transition to the second stage, further highlighting the defensive value of dividend assets.

Public information shows that S&P A Dividend ETF Huabao (562060) and its linked funds (Class A 501029, Class C 005125) passively track the S&P China A Dividend Opportunity Index. From 2005 to the end of 2025, the total return of the S&P A Dividend Total Return Index reached 2780.43%, with an annualized return of 17.82%. For investors seeking a balanced attack and defense portfolio, it is worth paying attention to S&P A Dividend ETF Huabao (562060) and its linked funds (Class A 501029, Class C 005125), moderately increasing the weight of dividends in a “dumbbell” strategy to cope with market fluctuations and aim for steady long-term returns.

Reminder: Recent market volatility may be significant, and short-term gains or losses do not predict future performance. Investors should invest rationally based on their own financial situation and risk tolerance, paying close attention to position sizing and risk management.

Data source: Shanghai and Shenzhen Stock Exchanges, S&P Dow Jones Indices, etc.

Note: The subscription fee for S&P A Dividend ETF Huabao linked Class A is 1.0% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and 1,000 yuan per transaction for amounts above 2 million yuan; redemption fee for holdings within 7 days is 1.5%, 0.5% for 7-30 days, and 0% beyond 30 days. S&P A Dividend ETF Huabao linked Class C does not charge a subscription fee; redemption fee within 7 days is 1.5%, beyond 7 days is 0%. Sales service fee is 0.3%.

Risk warning: The ETF and its linked funds passively track the S&P A Dividend Index (CSPSADRP), which was established on June 18, 2004, and published on September 11, 2008. The index components are adjusted periodically according to the index rules. The S&P A Dividend Total Return Index (which includes dividends) had the following performance over the last five full years: 2021: 23.12%; 2022: -3.59%; 2023: 14.21%; 2024: 14.98%; 2025: 18.95%. The index composition is adjusted periodically, and past performance does not predict future results. The fund manager assesses the risk level as R3—medium risk, suitable for balanced (C3) and above investors. Investors should carefully read the fund contract, prospectus, and key information documents to understand the fund’s risk-return profile and choose products aligned with their risk tolerance. All information in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of expression) is for reference only. Investors are responsible for their own investment decisions. The views, analysis, and forecasts in this article do not constitute investment advice and do not bear responsibility for any direct or indirect losses caused by using this content. Investment in funds involves risks; past performance does not guarantee future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Please invest cautiously.

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