[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-JP2025060612595173338":3,"related-JP2025060612595173338":35},{"pageSize":4,"id":5,"productLine":6,"status":7,"articleCode":8,"articleType":9,"showStyle":7,"mediaType":10,"fileInputUrl":11,"articleTitle":12,"coverImage":13,"listImage":14,"introduction":15,"description":16,"nonVipDescription":17,"postTime":18,"viewTime":19,"sortNumber":20,"isFree":21,"isShowList":7,"isRecommend":21,"linkType":7,"isOriginal":6,"hasMiniUrl":21,"miniUrl":11,"miniScheme":11,"miniImage":11,"itemTag":11,"createBy":22,"updateBy":22,"createTime":23,"visitCount":24,"isLiked":21,"realSearch":25,"isRead":21,"productId":26,"isCollected":21,"collectCount":27,"vipExclusive":21,"allowComment":7,"style":28,"likeCount":29,"duration":21,"playStyle":7,"seoKeywords":11,"articleModuleVoList":30,"extendContentList":31,"noteCount":32,"categoryList":33,"dailyKeywordList":34},10,6953,"1",1,"JP2025060612595173338","1041018",3,"","年化11%，新的「躺平」方式？","https:\u002F\u002Fimage.jane7.com\u002F3375725c-d389-414b-8026-187a459f2892.png","https:\u002F\u002Fjane7-prod.oss-cn-hangzhou.aliyuncs.com\u002Fmanager\u002Farticle_default_img.png","聊聊很火的红利基金","\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">最近，我发现关注的几位「躺平」博主，有点躺不平了。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">他们不工作之后，主要靠产生现金流的资产来过日子，像是房租、存款利息。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">房租就别提了，今年得降个10%才能租出去；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">利率呢，也是一路下行，他们几年前买的高利率存款要到期了，也在发愁利息缩水怎么办。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">我看到评论区，有人建议他们了解了解基金，特别\u003Cstrong>投资高分红股票的红利基金\u003C\u002Fstrong>，十年收益都翻倍了。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">之前，也有不少朋友说，对红利基金感兴趣。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>那市场上这么多红利基金，该怎么挑？过去不错的收益，未来能延续吗？今天就来聊聊看~\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-left: 16px;margin-right: 16px;margin-bottom: 0px;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F4cfc70c5-8d13-479b-9077-c98708b646f4.jpg\">\u003C\u002Fp>\n\u003Cp style=\"text-wrap: wrap;outline: 0px;letter-spacing: 0.544px;font-family: -apple-system, "system-ui", "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;background-color: rgb(255, 255, 255);line-height: 2em;visibility: visible;text-align: center;margin-left: 16px;margin-right: 16px;margin-bottom: 16px;\">\u003Cstrong>\u003Cspan style=\"outline: 0px;font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;color: rgb(214, 168, 65);\">01\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">红利基金，就是那些跟踪红利指数的基金。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">红利指数呢，会按照一套规则，\u003Cstrong>挑选市场上高现金分红的公司\u003C\u002Fstrong>。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">背后的逻辑是，如果一家公司能连续多年给股东分红，说明它的\u003Cstrong>财务状况比较良好，有充裕的现金流。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">目前，市场上的红利指数五花八门，中证指数官网上，就有100多只。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">咱们先从3只历史最悠久的指数说起：\u003Cstrong>上证红利、中证红利、深证红利。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">它们的主要区别有两个：\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>（1）持股数量：\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">上证红利\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（50只）\u003C\u002Fspan>和深圳红利\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（40只）\u003C\u002Fspan>，只在各自的交易所选股；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">而中证红利综合性更强，在沪深两市一共挑选100只构成。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">（2）\u003C\u002Fspan>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">编\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>制方式：\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">上证红利和中证红利，采用的是\u003Cstrong>股息率\u003C\u002Fstrong>\u003Cstrong>*加权\u003C\u002Fstrong>：股息率越高，在指数中的「话语权」越大；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(143, 149, 158);\">*\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158);\">股息率\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158);\">=年度每股股息 \u002F 股票当前价格\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">深圳红利，采用的是\u003Cstrong>分红金额加权\u003C\u002Fstrong>，有利于\u003Cstrong>大市值公司：\u003C\u002Fstrong>哪家公司分红的金额高，它的占比就越大。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">这也导致指数之间的\u003Cstrong>行业配置\u003C\u002Fstrong>，存在较大差异——\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">深证红利的行业分布，和主流宽基指数很像，\u003Cstrong>消费+科技\u003C\u002Fstrong>占比7成。重仓股也是耳熟能详的大蓝筹，像是美的、五粮液；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">上证红利和中证红利更相似，买的最多的是\u003Cstrong>煤炭、航运\u003C\u002Fstrong>，属于盈利稳定、估值低的行业。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">即便是买消费股，选的也是纺织服装、零售这些「冷门」股，这也是两大红利指数，能走出独立行情的原因。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F7c218bc3-9352-46ef-a10b-c0eed0410bdb.jpg\">\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;text-align: center;\">\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">图源：中证指数、国证指数官网\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">落地到走势上，考虑分红再投资，过去10年，\u003Cstrong>三大红利指数的\u003C\u002Fstrong>\u003Cstrong>年化收益率\u003C\u002Fstrong>\u003Cstrong>在8%-11%之间\u003C\u002Fstrong>，跑赢大盘——\u003C\u002Fp>\n\u003Cp style=\"margin: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F72f32072-33f8-4f81-b2d3-24583643be80.jpg\">\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">牛市里\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（19-21年）\u003C\u002Fspan>，深圳红利的成长性更吃香，进攻性更好；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">熊市里\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（21年之后）\u003C\u002Fspan>，低估值的上证红利比较抗跌，持有体验不错；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">中证红利持股分散，进攻和防守的板块都有布局，更加均衡。\u003C\u002Fp>\n\u003Cp style=\"margin-bottom: 0px;outline: 0px;letter-spacing: 0.544px;white-space: normal;font-family: -apple-system, system-ui, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;background-color: rgb(255, 255, 255);line-height: 2em;margin-left: 16px;margin-right: 16px;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F4e88bed0-c939-4b08-bd2e-2cf4b4e1d72a.jpg\">\u003C\u002Fp>\n\u003Cp style=\"text-wrap: wrap;outline: 0px;letter-spacing: 0.544px;font-family: -apple-system, "system-ui", "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;background-color: rgb(255, 255, 255);line-height: 2em;visibility: visible;text-align: center;margin-left: 16px;margin-right: 16px;margin-bottom: 8px;\">\u003Cstrong>\u003Cspan style=\"outline: 0px;font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;color: rgb(214, 168, 65);\">02\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">顺着这三大指数，近年又演化出不同风格的红利指数，像是央企红利、消费红利、红利低波。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">从名称上就能看出，前两类指数对\u003Cstrong>企业范围\u003C\u002Fstrong>做出了限制：比如央企红利只选分红高的央企、消费红利专门挑消费股。不过这类产品的规模并不大。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">值得一提的是\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>红利低波\u003C\u002Fstrong>\u003C\u002Fspan>类指数，追踪的基金数量多，非常受欢迎。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">TA有啥特别之处呢？来看看低波指数是怎么编制的——\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">先说\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「中证红利低波」\u003C\u002Fstrong>\u003C\u002Fspan>，它选取沪深两市\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>「\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>股息率\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>高+\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>波动率\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>低」\u003C\u002Fstrong>\u003C\u002Fspan>的50只股票：\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">股息率高，以过去3年平均股息率排序，筛选出\u003Cstrong>持续稳定高分红\u003C\u002Fstrong>的公司作为样本股。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">波动率低，是以过去1年的股价波动率排序，从样本股中挑选波动率最低的50只股票。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">你可以把中证红利低波，简单理解为从中证红利指数里面，挑选出\u003Cstrong>股价相对不太活跃\u003C\u002Fstrong>的成分股编制成指数。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">从前十大持仓来看，红利低波的行业分散在消费、制造业上，不像中证红利集中在能源板块，差异性挺大的。\u003C\u002Fp>\n\u003Csection>\n \u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002Fd2f67731-138f-40d5-ae49-0f8c0e7423df.jpg\">\n\u003C\u002Fsection>\n\u003Csection>\n \u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">图源：中证指数官网\u003C\u002Fspan>\n\u003C\u002Fsection>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">还有一个是\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「红利低波100」\u003C\u002Fstrong>\u003C\u002Fspan>，它和红利低波的选股逻辑基本是一样的。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">区别在于成分股数量增加为100只；以及\u003Cstrong>调仓频率更高\u003C\u002Fstrong>，每季度一调。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">咱们都知道A股波动大，「三年不开张，开张吃三年」的行业挺多的，比如券商、科技股。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">如果能在这些股票大涨后，及时调仓，就可以有效避免回调带来的亏损。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">从长期看，考虑分红再投资，中证红利和两个红利低波指数差距不大，过去10年的年化回报率\u003Cstrong>大约在11%左右\u003C\u002Fstrong>。\u003C\u002Fp>\n\u003Cp style=\"margin: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F32be40e6-a4fd-4ab1-95b5-91ec081ca4f3.jpg\">\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">「牛转熊」的阶段\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（15-16年）\u003C\u002Fspan>，红利低波100的快速调仓，确实让指数更稳健；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">漫漫熊市里，红利低波展现出更强的防御性，净值稳步向上；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">中证红利，依旧均衡，当市场偏好成长风格\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（19-21年）\u003C\u002Fspan>，进攻属性要比前两类指数强一些。\u003C\u002Fp>\n\u003Cp style=\"margin-left: 16px;margin-right: 16px;margin-bottom: 0px;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002Fc5376612-87b8-4940-8232-c6b93b1a8dce.jpg\">\u003C\u002Fp>\n\u003Csection>\n \u003Cstrong>\u003Cspan style=\"outline: 0px;font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;color: rgb(214, 168, 65);\">03\u003C\u002Fspan>\u003C\u002Fstrong>\n\u003C\u002Fsection>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">接下来就要说到大家最关心的话题：\u003Cstrong>红利指数已经涨了这么多，还能买吗？\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">我觉得在了解风险的前提下，\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>红利仍然值得配置。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">一来，红利指数的上涨，靠的是\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>成分股\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>盈利实打实增厚\u003C\u002Fstrong>\u003C\u002Fspan>，而非估值提升。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">当前，红利指数的估值分位值在30%\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（比过去十年70%的时间都便宜）\u003C\u002Fspan>，长期看挺低的。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">另外，股息率选股的规则，其实是在\u003Cstrong>「低买高卖」\u003C\u002Fstrong>：\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">当某个股票涨太多，股息率就会下降，直到被指数淘汰；如果跌多了，股息率会上升，反而能提高在指数的占比。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">二来，低利率环境下，\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>高股息的吸引力还是很强的\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cstrong>。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">最近，十年期国债收益率跌破2%了，这点收益率资金都抢着买，可见市场资产荒的严重程度。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">而手握大笔长钱的保险资金，开始频繁举牌\u003Cstrong>估值低、\u003C\u002Fstrong>\u003Cstrong>股息率\u003C\u002Fstrong>\u003Cstrong>高\u003C\u002Fstrong>的上市公司，抢购优质资产。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">既然大资金都用钱投票，咱们也可以跟着抄抄作业。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">接着，再来说说红利指数基金怎么挑——\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>第一步，确定你要投的指数\u003C\u002Fstrong>，比如是中证红利、还是红利低波；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>第二步，选择规模大、\u003C\u002Fstrong>\u003Cstrong>跟踪误差\u003C\u002Fstrong>\u003Cstrong>小的基金。\u003C\u002Fstrong>说明市场认可度高、管理人的运作比较规范。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>第三步，注重现金流的朋友，可以额外关注基金的分红频率。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">站在咱们的角度，拿到现金分红后可以落袋为安，也可以选择继续买入增加基金份额，\u003Cstrong>主动权握在了自己手上。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">如果接下来行情持续上涨，咱们也会获得更多的收益和新的分红，这就是「红利再投资」的神奇威力。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">拿华泰柏瑞红利低波动ETF联接*（A类：007466；C类：007467；Y类：022951）举例，这只联接基金\u003Cstrong>连续15个月月度分红\u003C\u002Fstrong>，相当于投资者能定期收到「月薪」，挺有获得感的。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(136, 136, 136);font-size: 14px;\">*A\u002FC类联接基金可以在场外申购赎回；Y类份额只能在个人养老金账户购买\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002Fee92846e-9acb-4897-98df-4174a72df3f7.jpg\">\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002Fd0b4f4b8-3e6b-433d-b045-519afe497c01.jpg\">\u003C\u002Fp>\n\u003Csection>\n \u003Cstrong>\u003Cspan style=\"outline: 0px;font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;color: rgb(214, 168, 65);\">04\u003C\u002Fspan>\u003C\u002Fstrong>\n\u003C\u002Fsection>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">最后，再来说一个\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「提高收益」\u003C\u002Fstrong>\u003C\u002Fspan>的小贴士，现在\u003Cstrong>个人养老金账户\u003C\u002Fstrong>也能买指数基金了。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">税率合适\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（税率档位至少>3%）\u003C\u002Fspan>的小伙伴，可以在这个长钱账户*定投，额外薅一笔国家的减税「羊毛」。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(136, 136, 136);font-size: 14px;\">*提醒：一般来说，\u003C\u002Fspan>\u003Cspan style=\"color: rgb(136, 136, 136);font-size: 14px;text-decoration: none;\">退休\u003C\u002Fspan>\u003Cspan style=\"color: rgb(136, 136, 136);font-size: 14px;\">才可以取出账户内资金\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">例如你的税率档位是\u003Cstrong>20%\u003C\u002Fstrong>，\u003Cstrong>花费9600元*，就能买入1.2万的金融资产。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">*节省2400元=一年个养最多缴存12000*20%税率\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">最新一批选中了85只基金产品，包含7只跟踪红利的指数基金。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cstrong>具体怎么买呢？\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">我看了看个养开户的银行，基金入口藏得比较深，也不能看到基金过去的情况。\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">咱们可以选择另一种方式：在\u003Cstrong>个养账户充值\u003C\u002Fstrong>\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（银行-个人养老金专区-缴存）\u003C\u002Fspan>后，转战支付宝\u002F天天基金购买——\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">（1）在支付宝\u002F天天基金绑定个人养老金账户；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">（2）用平台的标签功能、历史数据\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（收益、回撤）\u003C\u002Fspan>选基金，看看是否符合自己的风险偏好；\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">（3）选择个人养老金账户支付。\u003C\u002Fp>\n\u003Csection>\n \u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fimage.jane7.com\u002F5882c02c-0f71-411a-99d3-688589fd3619.jpg\">\n\u003C\u002Fsection>\n\u003Csection>\n \u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">图源：以天天基金为例\u003C\u002Fspan>\n\u003C\u002Fsection>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">这里也要提醒一下，红利基金并不是\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">\u003Cstrong>「只涨不跌」\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">的——\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">它的\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>优点是防御性强，缺点是进攻性不足\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">，一旦遇到经济向好、市场大幅上涨阶段，高分红股票的涨幅往往会落后于高成长的公司，可谓是风水轮流转，比如2019年就落后于大盘指数\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158);font-size: 14px;\">（沪深300）\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">对咱们来说，没必要去预测市场风向怎么变，了解了这个规律以后，不妨把红利基金作为资产配置的一部分，在\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">熊市\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">也能拿到稳稳的收益~\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;letter-spacing: 0.578px;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">好啦，以上就是红利指数的盘点，希望你对\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">TA\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">的认识多一点~\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp style=\"margin-right: 16px;margin-bottom: 0px;margin-left: 16px;color: rgb(34, 34, 34);font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);visibility: visible;line-height: 2em;\">\u003Cbr>\u003C\u002Fp>\n\u003Csection>\n \u003Csection>\n  \u003Cbr> \n \u003C\u002Fsection>\n\u003C\u002Fsection>\n\u003Csection>\n \u003Csection>\n  \u003Cbr> \n \u003C\u002Fsection>\n\u003C\u002Fsection>\n\u003Cp style=\"display: none;\">\u003Cbr>\u003C\u002Fp>","\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">最近，我发现关注的几位「躺平」博主，有点躺不平了。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">他们不工作之后，主要靠产生现金流的资产来过日子，像是房租、存款利息。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">房租就别提了，今年得降个10%才能租出去；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">利率呢，也是一路下行，他们几年前买的高利率存款要到期了，也在发愁利息缩水怎么办。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">我看到评论区，有人建议他们了解了解基金，特别\u003Cstrong>投资高分红股票的红利基金\u003C\u002Fstrong>，十年收益都翻倍了。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">之前，也有不少朋友说，对红利基金感兴趣。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>那市场上这么多红利基金，该怎么挑？过去不错的收益，未来能延续吗？今天就来聊聊看~\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fmmbiz_png\u002FAm8Qfs8miaLFP0y47k36rNGDhCM5HeemPTZzibYyT7q97SZBc8cEmoSejpfbhoCxlYgIzj9PyTM3oAzzaCIWbM5w\u002F640?wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 16px; margin-left: 16px; text-wrap: wrap; outline: 0px; letter-spacing: 0.544px; font-family: -apple-system, "system-ui", "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; background-color: rgb(255, 255, 255); line-height: 2em; visibility: visible; text-align: center;\">\u003Cstrong>\u003Cspan style=\"outline: 0px; font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; color: rgb(214, 168, 65);\">01\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">红利基金，就是那些跟踪红利指数的基金。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">红利指数呢，会按照一套规则，\u003Cstrong>挑选市场上高现金分红的公司\u003C\u002Fstrong>。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">背后的逻辑是，如果一家公司能连续多年给股东分红，说明它的\u003Cstrong>财务状况比较良好，有充裕的现金流。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">目前，市场上的红利指数五花八门，中证指数官网上，就有100多只。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">咱们先从3只历史最悠久的指数说起：\u003Cstrong>上证红利、中证红利、深证红利。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">它们的主要区别有两个：\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>（1）持股数量：\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">上证红利\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（50只）\u003C\u002Fspan>和深圳红利\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（40只）\u003C\u002Fspan>，只在各自的交易所选股；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">而中证红利综合性更强，在沪深两市一共挑选100只构成。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">（2）\u003C\u002Fspan>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">编\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>制方式：\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">上证红利和中证红利，采用的是\u003Cstrong>股息率\u003C\u002Fstrong>\u003Cstrong>*加权\u003C\u002Fstrong>：股息率越高，在指数中的「话语权」越大；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(143, 149, 158);\">*\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158);\">股息率\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158);\">=年度每股股息 \u002F 股票当前价格\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">深圳红利，采用的是\u003Cstrong>分红金额加权\u003C\u002Fstrong>，有利于\u003Cstrong>大市值公司：\u003C\u002Fstrong>哪家公司分红的金额高，它的占比就越大。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">这也导致指数之间的\u003Cstrong>行业配置\u003C\u002Fstrong>，存在较大差异——\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">深证红利的行业分布，和主流宽基指数很像，\u003Cstrong>消费+科技\u003C\u002Fstrong>占比7成。重仓股也是耳熟能详的大蓝筹，像是美的、五粮液；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">上证红利和中证红利更相似，买的最多的是\u003Cstrong>煤炭、航运\u003C\u002Fstrong>，属于盈利稳定、估值低的行业。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">即便是买消费股，选的也是纺织服装、零售这些「冷门」股，这也是两大红利指数，能走出独立行情的原因。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrIXbhGheRrH36RzL0nHGnUgzaAP9lTM9LHDNrdtgODB7AzfzUp7Gpuw\u002F640?from=appmsg&wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em; text-align: center;\">\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">图源：中证指数、国证指数官网\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">落地到走势上，考虑分红再投资，过去10年，\u003Cstrong>三大红利指数的\u003C\u002Fstrong>\u003Cstrong>年化收益率\u003C\u002Fstrong>\u003Cstrong>在8%-11%之间\u003C\u002Fstrong>，跑赢大盘——\u003C\u002Fp>\u003Cp style=\"margin: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrZ8WiaRw0fKf9abIpRnBXzboEcfic1C0lYVxvNRlwmviaIEkWUw35ojIuw\u002F640?from=appmsg&wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">牛市里\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（19-21年）\u003C\u002Fspan>，深圳红利的成长性更吃香，进攻性更好；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">熊市里\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（21年之后）\u003C\u002Fspan>，低估值的上证红利比较抗跌，持有体验不错；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">中证红利持股分散，进攻和防守的板块都有布局，更加均衡。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; outline: 0px; letter-spacing: 0.544px; font-family: -apple-system, system-ui, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; background-color: rgb(255, 255, 255); line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fmmbiz_png\u002FAm8Qfs8miaLFP0y47k36rNGDhCM5HeemPTZzibYyT7q97SZBc8cEmoSejpfbhoCxlYgIzj9PyTM3oAzzaCIWbM5w\u002F640?wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 8px; margin-left: 16px; text-wrap: wrap; outline: 0px; letter-spacing: 0.544px; font-family: -apple-system, "system-ui", "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; background-color: rgb(255, 255, 255); line-height: 2em; visibility: visible; text-align: center;\">\u003Cstrong>\u003Cspan style=\"outline: 0px; font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; color: rgb(214, 168, 65);\">02\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">顺着这三大指数，近年又演化出不同风格的红利指数，像是央企红利、消费红利、红利低波。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">从名称上就能看出，前两类指数对\u003Cstrong>企业范围\u003C\u002Fstrong>做出了限制：比如央企红利只选分红高的央企、消费红利专门挑消费股。不过这类产品的规模并不大。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">值得一提的是\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>红利低波\u003C\u002Fstrong>\u003C\u002Fspan>类指数，追踪的基金数量多，非常受欢迎。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">TA有啥特别之处呢？来看看低波指数是怎么编制的——\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">先说\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「中证红利低波」\u003C\u002Fstrong>\u003C\u002Fspan>，它选取沪深两市\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>「\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>股息率\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>高+\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>波动率\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(220, 155, 4);\">\u003Cstrong>低」\u003C\u002Fstrong>\u003C\u002Fspan>的50只股票：\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">股息率高，以过去3年平均股息率排序，筛选出\u003Cstrong>持续稳定高分红\u003C\u002Fstrong>的公司作为样本股。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">波动率低，是以过去1年的股价波动率排序，从样本股中挑选波动率最低的50只股票。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">你可以把中证红利低波，简单理解为从中证红利指数里面，挑选出\u003Cstrong>股价相对不太活跃\u003C\u002Fstrong>的成分股编制成指数。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">从前十大持仓来看，红利低波的行业分散在消费、制造业上，不像中证红利集中在能源板块，差异性挺大的。\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Csection>\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrPJNPFUnmES74x7t9o6QZ02TPuVanNc6HBFdjfHahk9bKwczia8jxIcA\u002F640?from=appmsg&wx_fmt=png\"\u002F>\u003C\u002Fsection>\u003Csection>\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">图源：中证指数官网\u003C\u002Fspan>\u003C\u002Fsection>\u003Cp>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">还有一个是\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「红利低波100」\u003C\u002Fstrong>\u003C\u002Fspan>，它和红利低波的选股逻辑基本是一样的。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">区别在于成分股数量增加为100只；以及\u003Cstrong>调仓频率更高\u003C\u002Fstrong>，每季度一调。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">咱们都知道A股波动大，「三年不开张，开张吃三年」的行业挺多的，比如券商、科技股。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">如果能在这些股票大涨后，及时调仓，就可以有效避免回调带来的亏损。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">从长期看，考虑分红再投资，中证红利和两个红利低波指数差距不大，过去10年的年化回报率\u003Cstrong>大约在11%左右\u003C\u002Fstrong>。\u003C\u002Fp>\u003Cp style=\"margin: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrbrnGp4e20niaRrAZaJbR35CyFbQ81NrX2ZZtgIR3nmW46DPVPGpjicFg\u002F640?from=appmsg&wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">「牛转熊」的阶段\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（15-16年）\u003C\u002Fspan>，红利低波100的快速调仓，确实让指数更稳健；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">漫漫熊市里，红利低波展现出更强的防御性，净值稳步向上；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">中证红利，依旧均衡，当市场偏好成长风格\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（19-21年）\u003C\u002Fspan>，进攻属性要比前两类指数强一些。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fmmbiz_png\u002FAm8Qfs8miaLFP0y47k36rNGDhCM5HeemPTZzibYyT7q97SZBc8cEmoSejpfbhoCxlYgIzj9PyTM3oAzzaCIWbM5w\u002F640?wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Csection>\u003Cstrong>\u003Cspan style=\"outline: 0px; font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; color: rgb(214, 168, 65);\">03\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fsection>\u003Cp>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">接下来就要说到大家最关心的话题：\u003Cstrong>红利指数已经涨了这么多，还能买吗？\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">我觉得在了解风险的前提下，\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>红利仍然值得配置。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">一来，红利指数的上涨，靠的是\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>成分股\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>盈利实打实增厚\u003C\u002Fstrong>\u003C\u002Fspan>，而非估值提升。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">当前，红利指数的估值分位值在30%\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（比过去十年70%的时间都便宜）\u003C\u002Fspan>，长期看挺低的。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">另外，股息率选股的规则，其实是在\u003Cstrong>「低买高卖」\u003C\u002Fstrong>：\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">当某个股票涨太多，股息率就会下降，直到被指数淘汰；如果跌多了，股息率会上升，反而能提高在指数的占比。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">二来，低利率环境下，\u003Cspan style=\"color: rgb(222, 120, 2);\">\u003Cstrong>高股息的吸引力还是很强的\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cstrong>。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">最近，十年期国债收益率跌破2%了，这点收益率资金都抢着买，可见市场资产荒的严重程度。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">而手握大笔长钱的保险资金，开始频繁举牌\u003Cstrong>估值低、\u003C\u002Fstrong>\u003Cstrong>股息率\u003C\u002Fstrong>\u003Cstrong>高\u003C\u002Fstrong>的上市公司，抢购优质资产。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">既然大资金都用钱投票，咱们也可以跟着抄抄作业。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">接着，再来说说红利指数基金怎么挑——\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>第一步，确定你要投的指数\u003C\u002Fstrong>，比如是中证红利、还是红利低波；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>第二步，选择规模大、\u003C\u002Fstrong>\u003Cstrong>跟踪误差\u003C\u002Fstrong>\u003Cstrong>小的基金。\u003C\u002Fstrong>说明市场认可度高、管理人的运作比较规范。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>第三步，注重现金流的朋友，可以额外关注基金的分红频率。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">站在咱们的角度，拿到现金分红后可以落袋为安，也可以选择继续买入增加基金份额，\u003Cstrong>主动权握在了自己手上。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">如果接下来行情持续上涨，咱们也会获得更多的收益和新的分红，这就是「红利再投资」的神奇威力。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">拿华泰柏瑞红利低波动ETF联接*（A类：007466；C类：007467；Y类：022951）举例，这只联接基金\u003Cstrong>连续15个月月度分红\u003C\u002Fstrong>，相当于投资者能定期收到「月薪」，挺有获得感的。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(136, 136, 136); font-size: 14px;\">*A\u002FC类联接基金可以在场外申购赎回；Y类份额只能在个人养老金账户购买\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrBbibg89TYpGyeURhicWAZyWeRgkulrcF3yQOKGUdkaO2bmoOib90ibuXSA\u002F640?wx_fmt=png&from=appmsg\"\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px;\">\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fmmbiz_png\u002FAm8Qfs8miaLFP0y47k36rNGDhCM5HeemPTZzibYyT7q97SZBc8cEmoSejpfbhoCxlYgIzj9PyTM3oAzzaCIWbM5w\u002F640?wx_fmt=png\"\u002F>\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Csection>\u003Cstrong>\u003Cspan style=\"outline: 0px; font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; color: rgb(214, 168, 65);\">04\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fsection>\u003Cp>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">最后，再来说一个\u003Cspan style=\"background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>「提高收益」\u003C\u002Fstrong>\u003C\u002Fspan>的小贴士，现在\u003Cstrong>个人养老金账户\u003C\u002Fstrong>也能买指数基金了。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">税率合适\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（税率档位至少>3%）\u003C\u002Fspan>的小伙伴，可以在这个长钱账户*定投，额外薅一笔国家的减税「羊毛」。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(136, 136, 136); font-size: 14px;\">*提醒：一般来说，\u003C\u002Fspan>\u003Cspan style=\"color: rgb(136, 136, 136); font-size: 14px;\">退休\u003C\u002Fspan>\u003Cspan style=\"color: rgb(136, 136, 136); font-size: 14px;\">才可以取出账户内资金\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">例如你的税率档位是\u003Cstrong>20%\u003C\u002Fstrong>，\u003Cstrong>花费9600元*，就能买入1.2万的金融资产。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">*节省2400元=一年个养最多缴存12000*20%税率\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">最新一批选中了85只基金产品，包含7只跟踪红利的指数基金。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cstrong>具体怎么买呢？\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">我看了看个养开户的银行，基金入口藏得比较深，也不能看到基金过去的情况。\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">咱们可以选择另一种方式：在\u003Cstrong>个养账户充值\u003C\u002Fstrong>\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（银行-个人养老金专区-缴存）\u003C\u002Fspan>后，转战支付宝\u002F天天基金购买——\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">（1）在支付宝\u002F天天基金绑定个人养老金账户；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">（2）用平台的标签功能、历史数据\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（收益、回撤）\u003C\u002Fspan>选基金，看看是否符合自己的风险偏好；\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">（3）选择个人养老金账户支付。\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Csection>\u003Cimg class=\"rich_pages wxw-img\" src=\"https:\u002F\u002Fmmbiz.qpic.cn\u002Fsz_mmbiz_png\u002FAm8Qfs8miaLFutEWfr9iaxwPcm4ZdicQqUrGVfRF4zqyXHdLyqOhLwtsaoHJeBYZ3jiabVAiaSichbbVIHnhtWFJbFTw\u002F640?from=appmsg&wx_fmt=png\"\u002F>\u003C\u002Fsection>\u003Csection>\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">图源：以天天基金为例\u003C\u002Fspan>\u003C\u002Fsection>\u003Cp>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">这里也要提醒一下，红利基金并不是\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">\u003Cstrong>「只涨不跌」\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">的——\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">它的\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41); background-color: rgba(254, 212, 164, 0.8);\">\u003Cstrong>优点是防御性强，缺点是进攻性不足\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">，一旦遇到经济向好、市场大幅上涨阶段，高分红股票的涨幅往往会落后于高成长的公司，可谓是风水轮流转，比如2019年就落后于大盘指数\u003C\u002Fspan>\u003Cspan style=\"color: rgb(143, 149, 158); font-size: 14px;\">（沪深300）\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">。\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">对咱们来说，没必要去预测市场风向怎么变，了解了这个规律以后，不妨把红利基金作为资产配置的一部分，在\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">熊市\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">也能拿到稳稳的收益~\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; letter-spacing: 0.578px; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cspan style=\"color: rgb(31, 35, 41);\">好啦，以上就是红利指数的盘点，希望你对\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">TA\u003C\u002Fspan>\u003Cspan style=\"color: rgb(31, 35, 41);\">的认识多一点~\u003C\u002Fspan>\u003C\u002Fp>\u003Cp style=\"margin-right: 16px; margin-bottom: 0px; margin-left: 16px; text-wrap-mode: wrap; color: rgb(34, 34, 34); font-family: Optima-Regular, PingFangTC-light; letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; line-height: 2em;\">\u003Cbr\u002F>\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Csection>\u003Csection>\u003Cbr\u002F>\u003C\u002Fsection>\u003C\u002Fsection>\u003Csection>\u003C\u002Fsection>\u003Cp>\u003C\u002Fp>\u003Cp>\u003Cbr\u002F>\u003C\u002Fp>","2025-06-07 06:25:00","2025-06-06 12:59:48",100,0,"liuweixin@jane7.com","2025-06-06 12:59:51",594,false,17015,58,"1038002",19,[],[],2,[],[],[]]