Recently, Fidelity published an article pointing out that the current financial environment is filled with economic challenges, geopolitical uncertainties, and policy speculation. Fidelity believes that in this environment, some high-quality dividend strategies invested in defensive stocks can help investors diversify the risks of their portfolios in pursuit of returns. Fidelity states that the financial markets are currently flooded with various conflicting signals that are affecting policymakers and central banks. However, investors are not afraid of these challenges, leading to improvements in stock market valuations. Although inflation remains persistent, it has cooled significantly year-on-year. The US unemployment rate remains at its lowest level in 50 years, the debt-to-income ratio has decreased, and the financial condition of the public remains fairly robust. Central banks have also started cutting interest rates, and the latest quarterly profit data shows that many companies are in good shape. At the same time, investors are increasingly concerned about whether US tech giants can maintain their profit levels, thus starting to consider value stocks and smaller companies. In this environment, it is difficult for investors to accurately predict economic prospects, so taking an active approach to evaluate the market from the bottom up to identify defensive companies that are likely to perform well in any economic environment is crucial. Fidelity believes that in the face of a complex investment environment, a dividend-focused strategy is attractive to investors who are being impacted by ongoing uncertainties. Through the adoption of an active management approach, dividend strategies can generate more diversified and higher quality returns. In addition, Fidelity can increase portfolio dividend income by reducing exposure to economically sensitive industries and focusing on companies that are leaders in sustainable development. Therefore, Fidelity focuses on managing high-quality companies with transparent business models and healthy balance sheets that can deliver steady returns in any economic cycle. Furthermore, Fidelity mentions that using portfolio management strategies can enhance returns, such as covered call options. Fidelity believes that this is an effective, suitable, and sustainable method to increase potential returns. For example, Fidelity recently discovered investment opportunities in defensive stocks. In the recent past, the stock prices of defensive stocks have lagged behind growth-oriented tech companies or internet-related companies, making their valuations particularly attractive. In the financial sector, non-banking institutions (including insurance companies) are worth noting. These companies are more sensitive to changes in borrowing costs compared to banks. However, among the banks that Fidelity focuses on, the emphasis is on banks that are increasing shareholder returns due to improved capital positions. From a regional perspective, there are more industry leaders emerging in the Asian region, especially in the semiconductor field, presenting Fidelity with potential opportunities.