The fund bear market is as long as the stock bear market for 4-5 years. The fund mainly invests in a basket of stocks, so the fund operates in stocks. When the stock market is in a bull market, funds are also in a bull market, and funds can generally get good returns. When the stock market is in a bear market, the fund is also a bear market, and the effect of making money is poor.

It should be noted that from the historical trend of funds, some high-quality funds can show an upward trend for a long time and get out of the market independent of the stock market. Because the fund will not invest in all the stocks in the stock market, the fund manager will choose some high-quality stocks, so it can maintain the upward trend for a long time, that is, the fund will go bullish for a long time.

Bond funds do not invest in the stock market, but invest in the bond market, so the rise and fall of bond funds are not determined by the stock market, and there is a seesaw effect between the bond market and the stock market. When the stock market is good, the bond market is poor, and when the stock market is poor, the bond market is good.