That's not true. Specifically, a fund has a bullish share and a bearish share. With a certain Shanghai and Shenzhen index as the target, they bet on each other by setting a certain leverage. At present, such a long-short grading fund is still being reported, and the specific design structure has not yet been announced. Take the long and short poles of Guangfa Gold Butler with simple structural design as an example. The long-short leverage of Guangfa Gold Manager is divided into mother share, bullish share and bearish share, and the ratio of bullish share to bearish share is 1: 1. Investing in fixed-income assets and cash assets, the parent share gets the investment income of the product, which has the characteristics of low expected income and low expected risk. On the triple-leveraged Shanghai and Shenzhen 300 Index, bullish stocks and bearish stocks are both bulls or bears.