The yield is low, and now the yield of three-year government bonds is about 4%; 2. Low flexibility. Generally speaking, individual investors must hold the maturity, and it is more difficult to cash in if they need temporary capital turnover.

Bond funds are divided into pure debt funds and partial stock mixed funds. The annualized rate of return of pure debt funds is about 4%-6%, and that of mixed debt funds is about 5%-7%, but it depends on the market, especially in the current uncertain stock index trend. Pure debt fund is obviously better than partial stock mixed fund.

There are two main types of bond risks:

1, interest rate risk, when the market interest rate or expected interest rate rises, the bond yield will generally decline.

2, value risk, in addition to the national debt is basically risk-free, other bonds have value risks, such as creditors can not pay their debts, or this bond has no value for its own reasons (this is the case with bonds in the early days of the US subprime mortgage crisis).

If the investment cycle is three years, the pure bond portfolio is more suitable, the average annualized income is higher than that of the national debt, and the redemption fee is free if it is held for more than three years, and it can be redeemed at any time if necessary.