Back-end charge refers to the payment method of not paying the subscription fee when buying an open-end fund and then paying it when selling it. Back-end fees are designed to encourage you to hold funds for a long time. Therefore, the rate of back-end fees will generally decrease with the growth of funds you hold. Some funds even stipulate that if the fund can be sold after a certain period of time, the back-end fee can be completely exempted. Mind you, the back-end charge is different from the redemption fee. Back-end charges, like front-end charges, are all a kind of subscription fees, but they are not paid when buying funds, but when selling funds. Therefore, if you buy a fund with back-end charges, you must pay the subscription fee in the form of back-end charges in addition to the redemption fee when you sell the fund. Some funds have front-end fees and back-end fees to choose from, while others only have front-end fees. Under normal circumstances, the designated bank card is used to sell directly on the website of the fund company, and the subscription rate is generally 0.6%, which is a front-end charging method, regardless of the holding time; For consignment in banks or securities companies, the subscription rate is generally 1.5% at the front end, 1 year 1.8% at the back end, 2 years 1.5%, 3 years 1.2%, 4 years 0.9% and 5 years 0.5%. Personally, I think online direct selling is better, free from time constraints and preferential rates.