1. The economic relations reflected are different. Stock reflects a kind of ownership relationship, which is a kind of ownership certificate. After investors buy shares, they become shareholders of the company. Bond reflects the relationship between creditor's rights and debts, and it is a kind of bond certificate. After investors buy bonds, they become creditors of the company. The fund reflects a trust relationship, which is a beneficiary certificate. Investors become the beneficiaries of the fund when they buy the fund.

2. The funds raised are invested in different ways. Stocks and bonds are direct investment tools, and the funds raised are mainly invested in the industrial field; Fund is an indirect investment tool, and the funds raised are mainly invested in securities financial instruments.

3. The return on investment is different from the risk. Under normal circumstances, the stock price fluctuates greatly, which is a high-risk and high-yield investment variety; Bonds can bring some interest income to investors, and their volatility is smaller than that of stocks, so they are a low-risk and low-yield investment product. The fund invests in many stocks, which can effectively spread risks. It is a kind of investment with relatively moderate risks and relatively stable returns.

funds and bank savings deposits

because open-end funds are mainly sold by banks, many investors mistakenly believe that funds are issued by banks, which is not much different from bank savings deposits. In fact, there are essential differences between them, mainly in the following aspects

1. The fund is a kind of income certificate, and the fund property is independent of the fund manager; Fund managers only manage funds instead of investors and do not bear the risk of investment losses. Bank savings deposit is a kind of credit certificate, which is manifested as bank liabilities; Banks have a statutory obligation to protect the principal and interest of depositors.

2. The characteristics of income and risk are different. Fund income has certain volatility and investment risk is high; The interest rate of bank deposits is relatively fixed, so investors are unlikely to lose their principal, and investors are relatively safe.

3. The degree of information disclosure is different. Fund managers must regularly announce to investors the differences between fund and stock

There are many differences between stock fund as a portfolio of stocks and single stock investment:

(1) The stock price is always changing in every trading day; The net value of the fund is calculated only once a day, so there is only one price for the stock fund on each trading day.

(2) The stock price will be affected by the comparison of the number of stocks bought and sold by investors; The net value of fund shares will not be affected by the number of transactions or the number of purchases and redemptions.

(3) When people invest in stocks, they usually judge the rationality of stock prices according to the information of listed companies' funds, such as financial status, market competitiveness of products, profit expectations, etc., but they can't judge whether the net value of funds is reasonable or not. In other words, it is meaningless to judge whether the net value of the fund is reasonable or not, because the net value of the fund is in line with the price of the securities it holds.

(4) The investment risk of a single stock is relatively concentrated, and the investment risk is relatively high; Because of diversified investment, the investment risk of stock funds is lower than that of single stock. However, from the perspective of risk sources, stock funds increase the "principal-agent" risk of fund managers' investment.

(1) Classification by investment market

According to the classification by investment market, stock funds can be divided into three categories: domestic stock funds, foreign stock funds and global stock funds.

(II) Classification by Stock Size

It is the most fund-based stock analysis method to classify stocks into small-cap stocks, medium-cap stocks and large-cap stocks according to their market value.

(3) Classification by nature of stocks

According to different nature, stocks can usually be divided into value stocks and growth stocks.

(4) A small-cap stock may be a value stock or a growth stock; And a large-scale large-cap stock may also be a value stock or a growth stock.

(5) stocks in the same industry often show similar characteristics and price trends. Funds that invest in a specific industry or sector are industry stock funds, such as basic industry funds, resource stock funds, real estate funds, financial service funds, and technology stock funds.