1, different codes: LOF) China Merchants CSI Liquor Index A code is161725; China Merchants CSI Liquor Index (LOF)C code is 0 124 14.

2. Net worth and income are different. LOF) Although the investment targets of A and C are the same, they are affected by investors' buying and selling, resulting in their ups and downs being out of sync, which makes their net worth and income different.

3. Different handling fees: Class A fund shares and Class C fund shares charge the same custody fees and management fees, while Class A fund shares charge subscription, subscription and redemption fees, excluding sales service fees, while Class C fund shares do not charge subscription and subscription fees (held for more than 30 days), but charge sales service fees.

1. China Merchants CSI Liquor Index A Fund conducts passive index investment, and through strict investment discipline and quantitative risk management means, it realizes effective tracking of the underlying index and obtains similar benefits to the underlying index. The investment objective of the Fund is to keep the absolute value of the daily average tracking deviation between the net income of the Fund and the performance comparison benchmark within 0.35% and the annual tracking error within 4%.

2. The fund manager uses the following strategies to construct the replacement stock portfolio:

(1) Fundamental substitution: according to the principle that the substituted stocks are similar in industry, fundamentals and scale, a package of underlying index stocks is selected as an alternative stock pool;

(2) Correlation test: calculate the correlation coefficient between each stock in the candidate pool and the daily return of the replaced stock, select the stocks with high correlation with the replaced stock to form a simulated portfolio, take the maximization of the correlation coefficient between the portfolio and the daily return sequence of the replaced stock as the optimization goal, solve the weight of the replaced stock in the portfolio, and construct the replaced stock portfolio.

3. The Fund mainly seeks a reasonable valuation level by studying the operating trend of spot and futures markets and combining the pricing model of stock index futures, and adopts futures contracts with good liquidity and active trading to achieve the purpose of effectively tracking the underlying index. In addition, the Fund will also use stock index futures to hedge the liquidity risk under special circumstances, and carry out effective cash management, such as expected large purchase and redemption and large dividends. And hedge the risk that the underlying index cannot be effectively tracked for other reasons.