Coal-themed fund reverses: defensive attributes and dividend-paying ability highlighted

The coal industry index has surged by more than 23% this year, driving up the net values of related fund products, with many coal-themed index funds yielding over 16%. The reasons behind this are the supply-demand relationship and changes in fund style: on the supply side, stricter safety inspections, low start-up rates, and reduced imports of coal; on the demand side, power supply guarantees and the logic of coal chemical alternatives remain. Funds have shifted from chasing high growth to 'low valuation + high dividend + stable cash flow' certainty assets.