The yield of bond funds is closely related to the investment target. For example, the yield of investment credit bonds is generally higher than that of interest rate bonds, but the risk of credit bonds is also higher. For bond funds that invest in the same target, because the development of bond funds that can be purchased at any time needs to raise more liquidity to cope with the pressure of redemption, there may be bond losses caused by huge redemption, so the yield of fixed investment is generally higher than that of bond funds that invest in the same target and are open for subscription and redemption at any time.