Hybrid funds have higher risks and higher expected returns. Bond funds mainly invest in bonds, and the fund risk is determined by the bonds invested. Hybrid funds have no clear investment direction and can invest in stocks, bonds and money markets at the same time. Hybrid funds are divided into different types according to the investment target, and the risks are: partial stock funds > allocation funds > stock-debt balance funds > partial debt funds.

Investors can choose funds according to their risk tolerance, investors with high risk tolerance can choose hybrid funds, and investors with low risk tolerance can choose bond funds.