The investment scope of the fund reflects the fund's investment style and affects the fund's return and risk level. The investment scopes of Fuguo Huili and Dacheng Jingfeng are slightly different, and they belong to the first-level debt base and the second-level debt base respectively. However, unlike traditional primary and secondary debt funds, Fuguo Huili and Dacheng Jingfeng are closed. The closed nature gives this type of fund the possibility of obtaining higher returns.

The average returns and risks of secondary debt funds are higher than those of primary debt funds. From the relationship between primary and secondary debt bases and the CSI 300, we can see that compared with the primary debt bases, the growth rate of the net value of the secondary bond bases and the CSI 300 have a certain linkage effect. This linkage effect also increases the risk of secondary debt funds.

In addition, the closed nature gives bond funds the possibility of obtaining higher returns. Taken together, there is a certain linkage between the closed secondary debt base and the stock market. If the stock index performs well within three years, then Dacheng Jingfeng may perform better than Fuguo Huili; at the same time, combining the primary debt base and the From the volatility of secondary bonds, it can be seen that the volatility of Dacheng Jingfeng is higher than that of Fuguo Huili. Although the returns of the conservative shares and aggressive shares of graded funds come from the returns of the parent fund, the differences in allocation principles make the return-risk characteristics of the conservative shares and aggressive shares different.

For the same increase or decrease, Jingfeng B’s loss margin is higher than Huili B’s, and Jingfeng A’s profit margin is higher than Huili A’s. According to the terms of the fund contract, when the closed period ends and the net value of the Wells Fargo Huili Fund is lower than 0.7813, that is, when the Wells Fargo Huili Fund loses 21.87%, the net value of Huili B will be 0, and the income of Huili A will not be guaranteed; and When the closed period ends, the net value of Dacheng Jingfeng Fund is lower than 0.7846, that is, when Dacheng Jingfeng Fund loses 21.54%, the net value of Jingfeng B is 0, and Jingfeng A will suffer a principal loss. Therefore, for the same loss magnitude, the net worth of Jingfeng B is lower than Huili B, that is, the loss magnitude of Jingfeng B is higher than Huili B; for the same profit margin, the net worth of Jingfeng A is higher than Huili A, that is, Jingfeng B A's profit margin is higher than Huixi A.