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\u57fa\u91d1\u6536\u8cbb\uff1a<\/u><\/span><\/strong><\/span><\/li>\n<\/ol>\n
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\u6309\u57fa\u91d1\u898f\u6a21\u5927\u5c0f\u3001\u4f9b\u6b3e\u51fa\u5165\u53ca\u6210\u54e1\u6578\u91cf\u7b49\u56e0\u7d20\uff0c\u5283\u5b9a\u6536\u8cbb\u6bd4\u4f8b\u3002\u7406\u8ad6\u4e0a\u57fa\u91d1\u898f\u6a21\u8d8a\u5927\uff0c\u884c\u653f\u6536\u8cbb\u6bd4\u4f8b\u61c9\u8a72\u6e1b\u5c11\u3002<\/span><\/p>\n
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\u6295\u8cc7\u8868\u73fe\u8cbb\uff1a<\/span><\/li>\n<\/ol>\n
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\u7528 \u201cHigh Water Mark\u201d\u539f\u5247\uff0c\u5373\u57fa\u91d1\u55ae\u4f4d\u50f9\u683c\u9ad8\u65bc\u6b77\u53f2\u50f9\u683c\uff0c\u624d\u65bc\u56de\u5831\u4e2d\uff0c\u6309\u4e00\u5b9a\u6bd4\u4f8b\u63d0\u53d6\u6295\u8cc7\u8868\u73fe\u6536\u8cbb\u3002<\/span><\/p>\n
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\u57fa\u91d1\u5831\u544a\uff1a<\/u><\/span><\/strong><\/span><\/li>\n<\/ol>\n
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\u53e6\u5916\uff0c\u50b5\u5238\u57fa\u91d1\u5831\u544a\uff0c\u8981\u4f8b\u51fa\u52a0\u6b0a\u7968\u9762\u606f\u7387\u3001\u52a0\u6b0a\u5b73\u606f\u7387\u3001\u52a0\u6b0a\u5230\u671f\u5e74\u671f\u7b49\u3002\u5982\u679c\u6709\u6295\u8cc7\u65bc\u5176\u4ed6\u57fa\u91d1\u6216ETF\uff08\u4f8b\u5982\uff1a\u6838\u51c6\u6ed9\u96c6\u6295\u8cc7\u57fa\u91d1 [2]<\/a>\u3001\u6838\u51c6\u7dca\u8cbc\u6307\u6578\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283 [3]<\/a>\uff09\uff0c\u4ea6\u61c9\u8a73\u7d30\u5217\u51fa\u6301\u6709\u6578\u91cf\u53ca\u8cbb\u7528\u7684\u8a08\u7b97\uff0c\u56e0\u70baFund of Fund\uff0c\u5373\u6295\u8cc7\u65bc\u5176\u4ed6\u57fa\u91d1\u7684\u57fa\u91d1\uff0c\u5176\u6536\u8cbb\u6bd4\u4f8b\u61c9\u5c07\u6240\u6301\u6709\u7684\u5176\u4ed6\u57fa\u91d1\u6536\u8cbb\u5305\u62ec\u5176\u4e2d [4]<\/a>\u3002<\/span><\/p>\n
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\u8a08\u5283\u8f49\u79fb\uff1a<\/u><\/span><\/strong><\/span><\/li>\n<\/ol>\n
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Image from tweakyourbiz.com<\/em><\/span><\/p>\n
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[1]<\/a> Regulatory Documents, iShares<\/a><\/span><\/p>\n
[2]<\/a>\u6838\u51c6\u6ed9\u96c6\u6295\u8cc7\u57fa\u91d1<\/a><\/span><\/p>\n
[3]<\/a>\u6838\u51c6\u7dca\u8cbc\u6307\u6578\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283<\/a><\/span><\/p>\n
[4]<\/a>\u5f37\u7a4d\u91d1\u6295\u8cc7\u57fa\u91d1\u62ab\u9732\u5b88\u5247<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
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