You haven't bought a fund yet. If you buy a fund with 0.5 yuan, when it rises to 0.55 yuan, you will have a return of 10%. Up to 0.6 yuan, you earn 20%. I didn't lose half of it. If an investor subscribes for a new fund for one yuan at the beginning, there will be no dividend between them, and it will drop to zero. When he arrives in 5 yuan, he will lose half without handling fees.