bond funds refer to funds that mainly invest in fixed-income financial instruments such as treasury bonds and financial bonds, and are often called "fixed-income funds" because the income of the products they invest in is relatively stable. However, according to the different investment scope of bond funds, their inherent risks are also quite different, and investors should carefully distinguish before buying. According to the specific investment scope of bond funds, they can be divided into pure debt funds, primary debt-based, secondary debt-based and convertible bond funds.

pure debt funds only invest in bonds, not in equity assets such as stocks and convertible bonds, and do not participate in the innovation of new shares. They are the most pure debt funds with relatively minimal volatility. In addition to investing in bonds, the primary debt base can also participate in the investment of convertible bonds and the innovation of new shares, so its volatility is greater than that of pure debt; In addition to investing in bonds and convertible bonds, the secondary debt base can also invest less than 2% of stocks, so its expected returns and risks are relatively high; Convertible bond fund is a special kind, which mainly takes convertible bonds as the investment target. Convertible bonds are both stock and debt, and have special risk-return characteristics.