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The dividend track, which previously occupied the center position in the volatile market, has been adjusted for nearly three months. As of August 19, the cumulative increase of the CSI Dividend Index (000922.CSI) this year was 3.34%, almost back to the level of early January this year. Under the background of adjustment, more than 90% of the dividend-themed products have experienced a retracement, and 31 products have retreated by more than 10%.

Yicai.com noted that many funds secretly increased their positions during the pullback, with over 10 billion yuan of net funds flowing into dividend-themed ETF products; at the same time, there are many dividend-themed funds being issued or about to be issued. In the view of industry insiders, after a period of correction, the "underlying logic" supporting the dividend strategy has not been adjusted, and this track is still attractive. Based on the perspective of valuation cost-effectiveness and asset stability, long-term stable dividend assets still have room for further revaluation.

90% of dividend-themed funds experienced a drawdown

Recently, the dividend track, which performed hot in the first half of the year, has experienced a significant correction. Wind data shows that as of August 19, the retracement of the CSI Dividend Index in the past three months has been close to 10% (-9.73%). However, judging from the monthly data, after two consecutive months of decline, the CSI Dividend Index has recovered slightly this month.

In addition, the average daily turnover of the CSI Dividend Index has also continued to decline, from 45.122 billion yuan in April to 27.296 billion yuan this month. From the perspective of individual stocks, two-thirds of the constituent stocks have fallen, among which Jiangshan Shares, Qibin Group, Jianfa Shares and other stocks have all fallen by more than 30% in the past three months.