Yes, the fund operates for a long time. Fund managers will change positions and exchange shares at any time according to market conditions. If a fund manager is optimistic about a stock, he will sell it high and sell it low to earn more profits.

The rise and fall of a fund is determined by the stocks it invests in. The stocks it invests in go up, and the stocks it invests in go down. When choosing a fund, it is more important to choose a fund manager. Investors can choose long-term employees or star fund managers.