You start investing when you buy it, which means you start to go up and down. However, new funds generally have a period of opening positions, and their net value has not changed much at first, or they will not change if they do not open positions to buy stocks and bonds. When its opening period is over, the fluctuation will be even greater. It is estimated that the investment target of this global bond fund you bought is mainly foreign bonds, which will not fluctuate greatly, maybe about 5% a year.