Not necessarily, hybrid funds have no clear investment direction and can invest in stocks, bonds and money market funds at the same time. Most of the hybrid funds in the market belong to partial stock funds.

Hybrid funds are divided into: partial stock funds (50%-70% stocks, 20%-40% bonds), partial debt funds (50%-70% bonds, 20%-40% stocks) and balanced funds (the ratio of stocks to bonds is relatively average, about 40%-60%).