Invested stocks fell. Many bond funds can invest in the stock market, such as primary debt base and secondary debt base, and can participate in the issuance of new shares and trade stocks directly in the secondary stock market. Falling stocks will naturally lead to a decline in the net value of bond funds. In addition, convertible bonds are a kind of bonds with strong stocks, so they are also greatly influenced by stocks, and the debt base of convertible bonds often falls with the stock market.

Investment bonds fell. Most of the funds of bond funds are used to invest in bonds, and the bond market is also volatile. For example, in a market with strong interest rate hike or expectation of interest rate hike, many issued bonds will be sold off, resulting in a decline in the net value of bond funds.

Dividend or split of bond funds will lead to a decline in net value. Dividend itself does not generate income, and the net value will fall after dividend, which is also a possibility. For example, for a debt base of 1.5 yuan, if each one pays dividends on 0.2 yuan, the net value of the debt base after dividends should be 1.5-0.2= 1.3 yuan.