Different investors: shareholders of the company have the right to participate in major decisions of the company; The bondholder is the creditor of the bond issuer and has the right to recover the due principal and interest; The fund share holder is the beneficiary of the fund, which reflects the trust relationship.

Different degrees of risk: generally speaking, the risk of stocks is greater than that of funds, because the stock price fluctuates greatly and the investment income is uncertain; The investment risk of bonds is relatively low, because bonds have stable interest return and principal guarantee, but there may be default risk; The investment risk of a fund depends on the types and proportions of stocks and bonds held in the fund portfolio.