The classification of China Merchants CSI Liquor Index and China Merchants CSI Liquor Index is positive, which is the relationship between parent fund and sub-fund. China Merchants CSI Liquor Index Classification is the parent fund, which consists of two sub-funds, a steady share and a positive share. The parent fund is an over-the-counter transaction, that is, it is purchased from fund companies, banks, Alipay and Tian Tian Fund Network. Sub-funds are traded on the floor, not really going to the business hall, but buying with stock accounts and trading in the secondary market (which can be understood as the stock market) in real time. In the previous two years, it was stipulated that only funds above 300,000 can participate in the trading of sub-fund shares, so the threshold is 300,000. Active share is a high-risk and high-yield share, and the ups and downs are amplified. The parent fund rises and falls 1%, and the active share rises and falls by about 1.5-2%. The parent fund and the sub-fund can be split and merged with each other, that is, the parent fund can be split into A and B through the exchange. Buying A and B in the stock market can be combined into a parent fund. It is important to understand this. The joys and sorrows of the so-called graded funds all come from the division and merger here. The specific operation and implementation need strong knowledge and professionalism.