Five swords is a positive value-added fund portfolio based on snowball big V and two birds theory. Since the establishment of 20 17, the annualized income of the portfolio has reached 20%, with a retreat of 24.55%. The retracement mainly occurred on 20 18. From the performance evaluation indicators, the performance of the portfolio is better than that of the same type of performance benchmarks, including Jinniu, CSI 300 and Growth Enterprise Market. However, it is also observed that since the callback after the Spring Festival in 20021,the net withdrawal of the portfolio has not turned around. The portfolio fluctuates greatly and the retracement time is relatively long. According to the statistics of historical data, it is necessary to hold 1 year or more, so there is a greater probability to ensure positive returns.