Funds are divided into on-site funds and off-site funds. On-market funds generally refer to the stock market, that is, the secondary market, while off-market funds generally refer to the fund market. The floor funds include ETF funds, LOF funds, closed-end funds and graded funds, so the floor funds are not necessarily LOF funds.

LOF fund, also known as listed open-end fund, is different from ordinary open-end fund. After the fund is issued, investors can not only purchase and redeem shares at designated outlets, but also buy and sell LOF funds on the exchange.

The transaction cost of on-site funds is low and the use efficiency of funds is high. Generally, the redemption rate and subscription rate of open-end funds are 0.5% and 1.5% respectively, but only the brokerage commission is paid for on-site transactions, with the maximum not exceeding 0.3%. On-site funds T+ 1 are desirable. Due to the influence of supply and demand, the transaction price of the funds in the market will change at any time.