Bond funds mainly allocate multiple bonds, and some bond funds allocate stocks. The net value of pure bond funds is determined by the bond interest rate, and the net value of bond funds with some assets invested in stocks is determined by the bond interest rate and the rise and fall of stocks.

The net value of bond funds is inversely proportional to the rise and fall of bond interest rates. When the bond interest rate rises, the net value of the bond fund falls, and when the bond interest rate falls, the net value of the bond fund rises.