Policy Support Highlights Resilience, GF Central SOE Dividend ETF(560700) Rises 2.68% Intraday

NewTimeSpace News: As of 13:09 on January 28, 2026, the CSI Guoxin Central SOE Shareholder Return Index (932039) surged 2.59%. Among its constituent stocks, China National Gold Group Co., Ltd. jumped 10.04%, Zhongjin Gold Co., Ltd. rose 10.01%, and Zhongcai Science & Technology Co., Ltd. advanced 9.99%. Stocks including China Railway Group Limited and China Jushi Co., Ltd. followed the upward trend. The GF Central SOE Dividend ETF (560700) gained 2.68%, with the latest price at 1.19 yuan. Looking at a longer time frame, as of January 27, 2026, the GF Central SOE Dividend ETF had recorded a cumulative increase of 1.40% in the past week. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

In terms of liquidity, the intraday turnover rate of the GF Central SOE Dividend ETF was 3.33%, with a trading volume of 14.3244 million yuan. Extending the time horizon, as of January 27, the average daily trading volume of the GF Central SOE Dividend ETF in the past week reached 18.4184 million yuan, ranking first among comparable funds.

As of January 27, the net asset value (NAV) of the GF Central SOE Dividend ETF had increased by 32.94% over the past two years, topping the list of comparable funds. In terms of profitability, as of January 27, 2026, since its inception, the GF Central SOE Dividend ETF had achieved a maximum monthly return of 16.16%, a longest consecutive rising period of 5 months with a cumulative gain of 15.03% during that streak. The ratio of months with gains to months with losses was 16:15, with an average monthly return of 3.64% in the profitable months. Its annual profitability rate stood at 100.00%, and the probability of making a profit when holding the fund for two years historically reached 100.00%. As of January 27, 2026, the GF Central SOE Dividend ETF had an annualized excess return over the benchmark of 4.89% in the past year, ranking among the top one-third of comparable funds.

As of January 23, 2026, the Sharpe ratio of the GF Central SOE Dividend ETF over the past year was 1.33, placing it in the top one-third of comparable funds and delivering the highest return under the same level of risk.

In terms of drawdown, as of January 27, 2026, the maximum drawdown of the GF Central SOE Dividend ETF since the beginning of the year was 1.24%, with a relative drawdown against the benchmark of 0.04%. It only took 4 days to recover from the drawdown, making it the fastest to rebound among comparable funds.

Regarding fees, the GF Central SOE Dividend ETF had a management fee rate of 0.50% and a custodian fee rate of 0.05%, which were the lowest among comparable funds.

The GF Central SOE Dividend ETF closely tracks the CSI Guoxin Central SOE Shareholder Return Index. Customized by Guoxin Investment Co., Ltd., the index mainly selects 50 listed company securities under the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) with relatively high ratios of total cash dividends or share repurchases to total market capitalization as index samples, aiming to reflect the overall performance of listed company securities themed around central SOE shareholder returns.

Data showed that as of December 31, 2025, the top 10 constituent stocks by weight in the CSI Guoxin Central SOE Shareholder Return Index (932039) were COSCO SHIPPING Holdings Co., Ltd., China Shenhua Energy Company Limited, COFCO Sugar Industry Co., Ltd., PetroChina Company Limited, Sinopec Group, CNOOC Limited, Sinotrans Limited, China Merchants Bank Co., Ltd., Baoshan Iron & Steel Co., Ltd., and Sichuan Meifeng Chemical Industry Co., Ltd. The combined weight of these top 10 stocks accounted for 32.51% of the index. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

SCS noted that since the start of 2026, Hong Kong stock dividend assets had demonstrated excellent resilience amid market fluctuations, with a return-to-drawdown ratio as high as 2.4 times. Policies have boosted the attractiveness of dividend assets. Since 2024, A-share listed companies have significantly increased their dividend payout intensity. Policy support has injected long-term momentum for valuation reshaping into dividend assets, highlighting the defensive value of such assets.

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