The difference between on-exchange funds and over-the-counter funds:

1. Different trading methods: On-exchange trading of general funds is more convenient than on-exchange trading in securities accounts. Over-the-counter funds can be subscribed through multiple channels such as banks, securities companies, and fund companies.

2. Different trading objects: What is traded on the exchange is base closing and listed base opening. Fixed investment and conversion are not allowed. OTC transactions can not only make fixed investments and conversions, but also purchase all open-end funds, including LOF funds and some ETF funds.

3. The transaction rates are different: the one-way transaction rate for on-site buying or selling will not exceed 0.3%, while the off-site subscription rate is between 0.6% and 1.5%. The return rate is mostly 0.5%.

4. Different transaction prices: The method of on-site trading is based on stock trading, real-time trading according to the market, and the price will also change according to the trading time. OTC transactions, on the other hand, have an unknown price and are traded at net value, which is updated once a day.

5. Different methods of dividend distribution: The dividend method of funds purchased on-site is limited to cash dividends, while the dividend methods of funds purchased over-the-counter are divided into two types: cash dividends and dividend reinvestment.