Most of the so-called funds that are difficult to "return to capital" were established when the market was hot in the previous two years, but they have experienced a callback in the market shock in the past year and have not been able to "return blood" at present. These funds are also funds that are still losing money held by most people. By observing the number and proportion of funds with different duration, we can find that the proportion of funds without capital return gradually decreases with the increase of the establishment years. In other words, the longer the fund is established, the lower the probability of still losing money. When the establishment period reaches 10 years or more, there are almost no ordinary equity funds that have not yet returned their capital. This also shows that all funds actually have the ability to return their capital, but they lack time to verify it. The ups and downs of the market are inevitable laws. At present, it may be a fund loss, because it is currently in the "low valley" range. We can see that most of the new funds have retreated, precisely because they have just met the interval of market rest since their establishment, but they have not yet ushered in a rebound period. In fact, if you give more time to the fund in your hand, the probability of your capital returning will be greatly improved.