StructuredFund is a special investment fund, which provides different investment products with different risk and return characteristics for investors at different levels by dividing the fund shares into two or more types. The main feature of graded funds is to decompose fund assets and returns, and form fund shares with two levels (or multi-levels) of risk-return performance with certain differences.

Graded funds usually include the following types of shares:

1. basic share (parent fund): this is the basic share of graded funds, usually ordinary open-end funds, with the characteristics of low risk and low return.

2. Class A stocks (low-risk stocks): These stocks usually have the characteristics of low risk and low return to meet the needs of investors with low risk tolerance. Class A shares usually enjoy priority dividends, but when the net assets of the fund fall, they may face the risk of loss.

3. Class B share (high-risk share): This kind of share has the characteristics of high risk and high return to meet the needs of investors with high risk tolerance. Class B shares usually do not enjoy the priority dividend right, but when the net assets of the fund rise, they have higher income potential.

Investors of graded funds can choose to buy different levels of fund shares according to their risk tolerance and investment objectives. It should be noted that the investment risk of graded funds is large, and investors need to fully understand their risk-return characteristics before buying and do a good job in risk control.

In short, graded funds are investment products with different levels and different risk-return characteristics through the decomposition of fund assets and returns. Investors can choose to buy different levels of fund shares according to their own needs, but they should pay attention to the high risks of graded funds and do a good job in risk control.