General index funds are funds that completely track and copy the Shanghai and Shenzhen 300 index, which are divided into on-market ETF and off-market index funds. The selection criteria of ETF in the market are good liquidity and low rate. Off-exchange funds should pay attention to the tracking error, and generally the lower the tracking error, the better.

In terms of cost, OTC funds are slightly higher than OTC funds. In addition to management fees and custody fees, there are subscription fees and redemption fees.

Since they are all tracking indexes, why spend more on OTC funds? Isn't ETF over?

Therefore, I will give up OTC funds directly and focus on the Shanghai and Shenzhen 300ETF in the market. We will evaluate it from three indicators: total rate, turnover and scale:

At present, Huaxia X Berry CSI 300ETF, Jia X CSI 300ETF, Huaxia X CSI 300ETF and X CSI 300ETF rank in the top four in terms of transaction volume and fund size.

These four are old index funds, established more than 6 years ago, with a fund scale of over 9 billion and a daily turnover of 1 100 million. The tracking errors are all around 0.03%, and Jia X's is only 0.02%.

In terms of scale, Huatai White X CSI 300 has a scale of 40.3 billion and the best liquidity, and is often listed on the list of major authoritative funds.

But if you look at the rates carefully, Fang Yi X CSI 300 is really a wonderful existence. When others add up to 0.6%, he directly cuts the cost by more than half, only 0.2%, which is really the conscience of the industry! Lower cost than some index funds with poor liquidity.

So, which should the Shanghai and Shenzhen 300ETF choose? Let's decide for ourselves.

2. Enhanced index fund

Any index fund with the word "enhanced" is no longer a simple passive fund. The goal is to pursue higher excess returns than the index. Fund managers can have 20% free decision-making space, which means that 80% of the positions of such funds need to be allocated to the index component, and the rest can be actively managed.

In fact, buying enhanced index is a bit contrary to our original intention of making money, just like a mixed debt base, but there are indeed some enhanced index funds with excellent performance in the market. If you invest for a long time, you will get better returns than simply buying indexes. Let's take a look.

Since it is to obtain excess returns, the only indicator of assessment is whether it can outperform the index for a long time and how much it can outperform.

At present, there are 72 enhanced index funds in the market, and the one-year holding rate is between 1%- 1.5%, which is much higher than that of simple index funds.

We have locked in five enhanced funds with outstanding performance according to the indicators such as the establishment time of more than five years, the fund scale exceeding 654.38+0 billion and the fund rating.

Extending the time to five years, all five funds outperformed the Shanghai and Shenzhen 300 Index. For example, in the past five years, the yield of CSI 300 was actually-12%, while the yield of Xingquan CSI 300 Enhanced Index A was 3 1%, and the lowest Jiashi CSI 300 Enhanced Index also had a positive return of 12%.

In the five years from 20 15 to 20 19, the annual income can also exceed the Shanghai and Shenzhen 300 index, and the retracement is also smaller than the index.

In the long run, Guo Fu CSI 300 and Xingquan 300 perform better, while in the short term, E Fund CSI 300 quantitative enhancement is better.