The relationship between funds and A shares can be understood as a market relationship based on linkage. If the fund takes A-shares as the main investment direction, A-shares will strengthen, and the fund income will be good, on the contrary, the fund income will shrink. However, there are also significant differences between the two. For investors, the most important thing is "never operate the fund as a stock".

In essence, participating in A-share stocks is a direct investment. Buying shares of A-share listed companies is equivalent to becoming a shareholder of this company. In essence, we are rewarded by the company's profitability and growth potential. If the company has enough growth potential and develops well, it will make money by stock trading, otherwise it may lose money.

The essence of a fund is a trust relationship. We entrust the money to the fund company, which is responsible for unified investment management. This trust relationship starts from the purchase and ends with the final redemption. Buying a fund is equivalent to buying a portfolio of assets. Professional fund managers decide the proportion of assets, how many stocks to buy, how much cash to keep and how many stocks to buy according to their own investment logic and experience. So buying a fund depends on the cognitive ability of the fund manager to make money. The investment ability and decision-making level of fund managers determine how much income we can get.

From the perspective of product design, funds are more suitable for "long-term holding", while stocks can gain income through "short-term operation".