Fixed-term open-end funds can only be redeemed on the opening day of the fund. Regular open-end fund means that the fund is opened once within a fixed period of time, and investors can purchase and redeem the fund at will on the open day. After the opening day, the fund enters a closed period, and no transactions can be made during the closed period.

Compared with open-end funds, fixed-term open-end funds have poor liquidity and are not suitable for investors with high liquidity requirements. If investors want to choose regular open-end funds, they should plan their funds well.