{"id":5532,"date":"2021-02-21T20:58:25","date_gmt":"2021-02-21T12:58:25","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=5532"},"modified":"2021-03-02T22:04:56","modified_gmt":"2021-03-02T14:04:56","slug":"%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf4-roro","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2021\/02\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf4-roro\/","title":{"rendered":"\u6230\u8853\u6027\u914d\u7f6eETF#4 – RORO"},"content":{"rendered":"

\u6230\u8853\u6027\u914d\u7f6eETF#4 – RORO<\/strong><\/span><\/h2>\n
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\u5148\u8b80\u524d\u6587\uff1a<\/span><\/p>\n
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\u6230\u8853\u6027\u914d\u7f6eETF#1 \u2013 WIZ<\/a><\/span><\/p>\n
\u6230\u8853\u6027\u914d\u7f6eETF#2 \u2013 PWS<\/a><\/span><\/p>\n
\u6230\u8853\u6027\u914d\u7f6eETF#3 \u2013 ONOF<\/span><\/a><\/p>\n
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\u6230\u8853\u6027ETF \u7cfb\u5217\u53bb\u5230\u7b2c4\u96bbETF\uff0c\u7b2c4\u96bbETF \u540d\u53ebATAC US Rotation ETF\uff0c<\/span>\u80a1\u7968\u4ee3\u865f\u70baRORO<\/span>\uff0c\u7531\u500b\u80a1\u7968\u4ee3\u865f\u90fd\u77e5\uff0c\u53c8\u4fc2risk on\/risk off \u5572friend \u3002<\/span><\/p>\n
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\u4e4b\u524d3\u96bbETF \u7684risk on \/ risk off \u6a21\u5f0f\uff0c\u662f\u6309\u80a1\u7968\u6216\u50b5\u5238\u7684\u50f9\u683c\u8d70\u52e2\u800c\u5b9a\uff0c\u6216\u591a\u6216\u5c11\u8207\u81ea\u8eab\u7684\u6295\u8cc7\u7269\u6709\u95dc\uff0c\u7b97\u662f\u53cd\u61c9\u5f0f(responsive) \u7684\u6230\u8853\u7b56\u7565\u3002<\/span><\/p>\n
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\u4f46RORO \u5247\u63a1\u7528\u81ea\u8eab\u6295\u8cc7\u7269\u4ee5\u5916\u7684\u6578\u64da\u8d70\u52e2<\/span>\uff0c\u50cf Ray Dalio<\/a> \u822c\u53bb\u5224\u65b7\u7f8e\u570b\u6574\u9ad4\u7d93\u6fdf\u8d70\u52e2\uff0c\u7136\u5f8c\u90e8\u7f72\u53bb\u8cb7\u80a1\u6216\u8cb7\u50b5\uff0c\u6709\u9ede\u662f\u9810\u6e2c\u5f0f(predictive) \u7684\u6230\u8853\u7b56\u7565\u3002<\/span><\/p>\n
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\u5481\u795e\u5947\uff1f\u5927\u5bb6\u5148\u7747RORO \u7684 prospectus<\/a>\uff0c\u7136\u5f8c\u95b1\u8b80\u4e0b\u9762\u7684<\/span>\u62c6\u89e3<\/span>\u3002<\/span><\/p>\n
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RORO \u7684risk on\/risk off \u7b56\u7565<\/span><\/strong><\/p>\n
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RORO \u7684\u7b56\u7565\u662f\u89c0\u5bdflumber<\/strong> \u53ca gold<\/strong> \u7684\u76f8\u5c0d\u5f37\u5f31 (relative strength)\uff0c \u6709\u9ede\u50cf\u7b2c6\u62db\uff0c\u6309RORO\u641e\u624b\u7684\u539f\u59cb\u8ad6\u6587(\u898b\u6b64<\/a>)\uff0crisk on \u4ee513\u661f\u671f\u7684lumber \u56de\u5831\u9ad8\u65bcgold \u56de\u5831\u70ba\u754c\u7dda\uff0crisk off \u5247\u753113\u661f\u671f\u7684 gold \u56de\u5831\u9ad8\u65bclumber \u56de\u5831\u4f5c\u5224\u65b7\u3002<\/span><\/p>\n
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\u70ba\u4f55\u7528lumber (\u6728\u6750) \u53cagold (\u9ec3\u91d1) \u505a\u6bd4\u8f03\u7269\uff1f<\/span><\/strong><\/span><\/p>\n
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\u9996\u5148\uff0cRORO \u641e\u624b\u65bc\u5176\u8ad6\u6587\u8a0e\u8ad6gold\u9ec3\u91d1\u662f\u8207\u5927\u5e02\u7684\u95dc\u806f\u7cfb\u6578<\/a>\u8fd1\u4e4e0\uff0c\u5373\u662f\u7121\u95dc\u4fc2\uff0c\u6240\u4ee5\u662frisk off \u7684\u826f\u597d\u6307\u6a19\u3002\u53e6\u5916\uff0c\u9078\u64c7lumber \u6728\u6750\u662f\u56e0\u70ba\u7f8e\u570b\u7d93\u6fdf\u597d\u58de\u53ef\u4ee5\u7531\u5efa\u5c4b\u91cf<\/span>\u53cd\u6620\uff0c\u800c\u5728\u7f8e\u570b\u5efa\u5c4b\u9700\u8981\u6728\u6750<\/span>\uff0c\u6240\u4ee5\u5c07\u6728\u6750(lumber)\u4f5c\u70ba\u5224\u65b7risk on \u7684\u6307\u6a19\u3002<\/span><\/p>\n
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RORO \u6703\u6bcf\u500b\u661f\u671f<\/strong>\u7528\u904e\u5f8013\u500b\u661f\u671f(\u53733\u500b\u6708\u9593\u8ddd)\u7684\u6578\u64da\u53bb\u5224\u65b7\u51farisk on\/risk off \uff0c\u7136\u5f8c\u6309\u5224\u65b7\u53bb\u8cb7\u5165\u76f8\u95dc\u7684\u80a1\u50b5\u8cc7\u7522\u3002\u80a1\u7968\u65b9\u9762\uff0cRORO \u6703\u8cb7\u5165small cap \u7d30\u50f9\u80a1 \u53ca large cap growth \u5927\u578b\u589e\u9577\u80a1\uff0c\u800c\u4e14\u6703\u69d3\u687f\u4e0a\u5230130%<\/strong> \uff0c\u65b9\u6cd5\u662f\u904b\u7528\u69d3\u687fETF \u3002\u50b5\u5238\u65b9\u9762\uff0c\u5247\u4ee5\u9577\u671f(20\u5e74\u4ee5\u4e0a) \u7684\u7f8e\u570b\u570b\u50b5\u70ba\u4e3b\uff0c\u4ea6\u6301\u6709\u4e00\u4e9b7\u81f310\u5e74\u671f\u7f8e\u570b\u570b\u50b5\uff0c\u4f46\u50b5\u5238\u6295\u8cc7\u4e0d\u505a\u69d3\u687f\u3002<\/span><\/p>\n
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\u81f3\u65bc\u9019\u4e9b\u80a1\u7968\u53ca\u50b5\u5238\u7684\u5be6\u969b\u6295\u8cc7\u5167\u5bb9\u53ca\u7d30\u90e8\u7684\u6bd4\u91cd\uff0cRORO \u7684prospectus \u5247\u6c92\u6709\u660e\u7d30\u5217\u51fa\uff0c\u9019\u4e9b\u7d30\u7bc0\u662f\u7531\u57fa\u91d1\u7d93\u7406\u81ea\u884c\u6c7a\u5b9a\uff0c\u6240\u4ee5RORO \u5c6c\u65bcactively-managed ETF<\/span> \uff0c\u6d89\u53ca\u4e00\u4e9b\u57fa\u91d1\u7d93\u7406\u7684\u4e3b\u89c0\u9078\u64c7\uff0c\u800c\u4e0d\u5b8c\u5168\u662f\u7d14\u7cb9rule based \u7684passive ETF \u3002<\/span><\/p>\n
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\u7531\u65bcRORO \u662f\u300c\u6bcf\u500b\u661f\u671f\u300d\u6aa2\u8a0erisk on\/risk off \uff0c\u6240\u4ee5\u5f88\u5927\u6a5f\u6703\u51fa\u73fe\u983b\u5bc6\u7684\u8cb7\u8ce3\uff0c\u53c3\u8003\u641e\u624b\u8ad6\u6587\u5167\u7684\u8cc7\u6599\uff0cturnover rate \u5e73\u5747\u4e00\u5e746.8\u6b21\uff0c\u5373\u6574\u9ad4\u8cc7\u7522\u5e73\u5747\u6bcf\u5e74\u8cb7\u4e866.8\u6b21\u53ca\u8ce3\u4e866.8\u6b21\uff0c\u4ea4\u6613\u8cbb\u7528\u53ca\u5dee\u50f9\u6703\u5c0d\u56de\u5831\u6216\u6709\u5f71\u97ff\u3002<\/span><\/p>\n
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\u6b77\u53f2\u56de\u6e2c\u8868\u73fe\u5982\u4f55\uff1f\u53ef\u53c3\u8003\u4ee5\u4e0b\u5716\u8868\uff0c\u53d6\u81ea\u641e\u624b\u7684\u8ad6\u6587\uff0c\u4e0d\u904e\u4e0b\u5716\u7684\u6295\u8cc7\u7269\u4e26\u4e0d\u5b8c\u5168\u8207RORO ETF \u4e00\u6a23\uff0c\u5c24\u5176\u6c92\u6709RORO ETF \u7684130%\u80a1\u7968\u69d3\u687f\u3002<\/span><\/p>\n
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Risk on\/ risk off \u7684\u7b56\u7565\u4e0d\u662f\u4ee5\u63d0\u9ad8\u56de\u5831\u70ba\u4e3b\uff0c\u800c\u662f\u4ee5\u5927\u5e45\u964d\u4f4e\u6ce2\u5e45\u70ba\u9996\u8981\u76ee\u7684\uff0c\u63d0\u5347Sharpe ratio (\u56de\u5831\/\u6ce2\u5e45 \u7684\u6bd4\u7387) \uff0c\u7136\u5f8c\u518d\u52a0\u4e0a\u69d3\u687f\uff0c\u5230\u9054\u9069\u5408\u81ea\u5df1\u7684\u6ce2\u5e45(\u898btarget volatility) \u3002<\/span>\u9019\u7a2e\u505a\u6cd5\u4ea6\u662f\u7576\u4eca\u4e16\u4ee3hedge fund \u7684\u505a\u6cd5(\u898b RenTech<\/a>) \uff0c\u540c\u6642\u4e5f\u662f\u7b46\u8005\u8fd1\u5e74\u79c1\u4eba\u6295\u8cc7\u7684\u505a\u6cd5(\u898b \u524d\u6587<\/a>) \u3002<\/span><\/p>\n
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\u5927\u5bb6\u4e00\u9023\u591a\u500b\u661f\u671f\u95b1\u8b80\u4e86\u4e0d\u540c\u7684\u6230\u8853\u6027\u914d\u7f6eETF\uff0c\u61c9\u8a72\u5c0d\u9019\u4e9b\u65b0\u7a4e\u7684\u6295\u8cc7\u7b56\u7565\u6709\u6240\u8a8d\u8b58\uff0c\u7528\u904e5,6,7,8\u62db\u7684\u66f4\u5c0d\u9019\u4e9b\u65b0\u985e\u578bETF \u624b\u5230\u62ff\u4f86\u3002\u7531\u65bc\u9019\u4e9bETF \u90fd\u662f\u8fd1\u5e74\u624d\u65b0\u63a8\u51fa\u7684\u6295\u8cc7\u7522\u54c1\uff0c\u9700\u8981\u591a\u4e9b\u6b77\u7df4\u624d\u6703\u53d7\u5230\u5927\u773e\u95dc\u6ce8\uff0c\u5c24\u5176\u9999\u6e2f\u9019\u4e9b\u8ca1\u5546\u843d\u5f8c\u5730\u5340\uff0c\u672a\u4f865\u5e74\u60f3\u6709\u9019\u985eETF \u4e0a\u5e02\u61c9\u8a72\u90fd\u6c92\u6709\u53ef\u80fd\uff0c\u66f4\u9051\u8ad6\u65bc\u5f37\u7a4d\u91d1\u5167\u53ef\u4ee5\u898b\u5230\u3002<\/span><\/p>\n
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\u6700\u5f8c\uff0c\u5c07\u672cTactical ETF \u7cfb\u5217\u6240\u6aa2\u8996\u904e\u76844\u96bbETF \u8207S&P500 \u6307\u6578ETF \u7684\u56de\u5831\u8868\u73fe\u540c\u6bd4\u986f\u793a\uff0c\u5c24\u5176\u89c0\u5bdf2020\u5e743\u6708\u4efd\u7f8e\u80a1\u7194\u65b7\u6642\u671f\u7684\u8868\u73fe\uff1a<\/span><\/p>\n
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\u4e0b\u6587\u7e8c<\/a><\/p>\n
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\u6230\u8853\u6027\u914d\u7f6eETF#4 – RORO \u5148\u8b80\u524d\u6587\uff1a \u6230\u8853\u6027\u914d…<\/p>\n","protected":false},"author":1,"featured_media":5541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[14,54,30,22,9,47,48,45,40,23,27],"class_list":["post-5532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-momentum","tag-position-sizing","tag-sharpe-ratio","tag-22","tag-9","tag-47","tag-48","tag-45","tag-40","tag-23","tag-27"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/02\/RORO4.jpg?fit=559%2C463&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-1re","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/comments?post=5532"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5532\/revisions"}],"predecessor-version":[{"id":5633,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5532\/revisions\/5633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/5541"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=5532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=5532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=5532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}