Of course, hybrid funds and index funds are risky. Index funds rise or fall with the index of the broader market. At present, the market fluctuation is not big, which belongs to box shock. Then the net value of index funds will not change much. When the stock market is good, hybrid funds buy most of the stocks. A small part is bonds. When the stock market is bad, most people buy bonds and a small amount of stocks. The rise and fall of the fund is mainly related to the stock market. Then hybrid funds will fall with the rise of the stock market, and the ups and downs will be mixed. Therefore, hybrid funds are more risky than index funds. But from another perspective, then its income is relatively large. So buying a fund should be decided according to your risk tolerance.