The allocation of funds, the performance of the general trend of the market, the ability of fund managers to choose stocks and timing, and the control of transaction costs.

The allocation of funds, the higher the proportion of stocks in the allocation of funds, the higher the risks it bears, and the greater the gains or losses it may generate.

The performance of the general trend of the market, the index to measure the rise and fall of the market is the change of the benchmark, and the fund that can fit the benchmark well and maintain a stable style is a good fund.

The fund manager's ability to choose stocks and timing, the fund manager's ability to choose stocks and the ability to reasonably outperform the benchmark are all contributions of the fund manager.

Control of transaction costs, each transaction has transaction costs, which should be extracted from the fund assets. The higher the turnover rate, the higher the transaction costs.