What impact does the rise and fall of the three major indexes have on the fund? The three indexes of A shares refer to Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index and Growth Enterprise Market Index respectively. Shanghai Stock Exchange Index and Shenzhen Stock Exchange Index are also called main board market, and Shanghai Stock Exchange Index is usually called market index by investors. The Shanghai Stock Exchange Index reflects the price changes of all stocks listed on the Shanghai Stock Exchange. Therefore, when the fund invests in large-cap stocks and all fund positions come from the large-cap stocks of the Shanghai Composite Index, the fund will rise when the market rises, and the fund will fall when the market falls. Shenzhen Stock Exchange refers to the stock price index of constituent stocks of Shenzhen Stock Exchange, and sample stocks are representative stocks listed on Shenzhen Stock Exchange according to certain standards. When the fund is an index fund of Shenzhen Stock Exchange, or the fund position belongs to the constituent stocks of Shenzhen Stock Exchange, the Shenzhen Stock Exchange will rise, the fund will rise, the Shenzhen Stock Exchange will fall and the fund will also fall. Growth enterprise market is different from the main board market. Growth enterprise market refers to an index based on small-scale, high-growth and high-tech constituent stocks. It is a market designed to provide financing channels and growth space for entrepreneurial enterprises that cannot be listed on the main board market for the time being. The listing threshold of such stocks is relatively low, so when the fund invests in such growth stocks listed on the GEM, the GEM index will rise, while the GEM index will fall, and the fund will also fall.