Hello, passive fund, also known as index fund, refers to making profits by buying all or part of an index, copying the performance of the index and closely tracking the changes of the index. At present, the domestic reference indexes mainly include Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, Shanghai Stock Exchange 180 Index, Shanghai Stock Exchange 50 Index and Shanghai and Shenzhen Stock Exchange 300 Index.

Active funds and passive funds are distinguished according to different investment concepts. Active funds don't deliberately make indexed investments, aiming at exceeding market benchmarks. Passive funds do not actively seek to outperform the market, but try to replicate the performance of the index.

For example, the South SSE 380ETF mainly invests in the stocks contained in SSE 380. SSE 380 gains when it goes up, and loses when it goes down.