1. Investment objectives and scope of the fund: that is, funds with different investment directions are not comparable, and the investment scope of the same fund is not comparable.

2. Fund scale: that is, the fund cost generated by different scales will be different.

3. Choice of fund cycle: that is, the different start and end times of fund performance calculation will lead to great differences in fund yield and performance ranking.

4. Risk level of the fund: According to the risk reward theory, the investment income is driven by investment risk, that is, the greater the risk, the higher the required rate of return of the fund.

5. Comparison criteria and structural stability of the fund.

Fund performance measurement refers to the process of measuring the investment ability of fund managers or fund investors through the reflection of fund performance.