First of all, the investment scope of bond funds includes a certain proportion of stocks, convertible bonds, new shares and bonds.

If it is a pure debt fund, then the income of this fund comes from two aspects, one is the interest income of bonds, and the other is the net spread of bonds, that is, the difference between buying at a low price and selling at a high price.

Why bond prices fluctuate is mainly due to changes in market interest rates. For example, when the market interest rate goes from low to Shangsheng Gao, the bond price will drop, making the bond yield rise to adapt to the change of market interest rate, and the net value of bond funds will drop at this time.