交运高股息6月总结：红利指数及高股息标的被动持股分析

申万宏源研究2025-07-10

低利率环境下，红利资产配置价值突出，港股通高股息跑赢其他高股息指数，6月港股通高股息指数跑赢沪深300红利指数1.17pct。截至2025年7月9日，股息率-十年期国债收益率中，高速公路约1.5%，港口约1%，航运约5%。资金面：24年以来红利产品规模加速增长，截至2025Q1，规模合计超2000亿元，其中红利ETF贡献较多增量；近一周看ETF规模有不同程度的变化，资金流向分化，长期看（今年以来...

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