To put it bluntly, a fund means that more than n people put money together and give it to one person to invest in stocks, bonds, foreign exchange and so on. If he makes money, he will give it to you in proportion to your investment. Losing money means that the money you gave him has shrunk.

If the stock market is depressed for a long time, of course, there will be a negative growth in the net value of the fund, but not every stock is bad. At this time, the fund manager will adjust the sector that makes money by holding stocks, or adjust the investment direction, such as putting more funds into government bonds, foreign exchange or time deposits.

In fact, if you look at the dividend data in previous years, you can still see that many funds still pay dividends every year, but the amount is very small. For example, when the market broke through 1000, all the funds I bought paid dividends.

Or, if you are unlucky, you will find an idiot manager in that fund. Everyone is making money, but he is losing money. Fund companies are not fools. Over time, he will be replaced.

Therefore, if your investment cycle is prolonged, if your net worth falls to a certain extent, make up your position appropriately. When this wave goes down, you will still find that your funds will not lose much, even higher than one-year bank deposits.

Of course, if you rush in and out like playing the stock market and have a "meat cut" or something, then I can't guarantee that you will lose everything.