2. Graded funds refer to fund varieties with two levels (or multiple levels) of risk-return performance with certain differentiated fund shares through the decomposition of fund income or net assets under a portfolio.
3. Its main feature is to divide the fund products into two types of shares and give different income distribution. Graded funds are usually divided into two types of shares: low-risk income side (agreed income share) sub-funds and high-risk income side (leveraged share) sub-funds.