{"id":5572,"date":"2021-03-07T20:31:42","date_gmt":"2021-03-07T12:31:42","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=5572"},"modified":"2021-03-16T00:32:44","modified_gmt":"2021-03-15T16:32:44","slug":"%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf6-target-drawdown","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2021\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf6-target-drawdown\/","title":{"rendered":"\u6230\u8853\u6027\u914d\u7f6eETF#6 – Target Drawdown"},"content":{"rendered":"

\u6230\u8853\u6027\u914d\u7f6eETF#6 – Target Drawdown<\/span><\/strong><\/span><\/h2>\n

 <\/p>\n

\u5148\u8b80\u524d\u6587\uff1a<\/span><\/p>\n

 <\/p>\n

\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

\u6230\u8853\u6027\u914d\u7f6eETF#4 \u2013 RORO<\/span><\/a><\/p>\n

\u6230\u8853\u6027\u914d\u7f6eETF#5 – HTUS<\/span><\/a><\/p>\n

 <\/p>\n

 <\/p>\n

\u7b2c\u516d\u96bb\u8981\u8a0e\u8ad6\u7684tactical ETF \u662f\u4e00\u500b\u7cfb\u5217<\/a>\uff0c\u5305\u542b\u4e865\u96bbTarget Drawdown ETF \uff0c\u540d\u7a31\u5982\u4e0b\uff1a<\/span><\/p>\n

 <\/p>\n

\"<\/a><\/p>\n

 <\/p>\n

\u9019\u500bETF\u7cfb\u5217\u7684\u6295\u8cc7\u76ee\u6a19\u662f\u91dd\u5c0d\u6700\u5927\u8dcc\u5e45(maximum drawdown)<\/span> \uff0c\u6240\u4ee5\u7a31\u70batarget drawdown\u3002\u6240\u7528\u7684\u65b9\u6cd5\u6709\u5169\u7a2e<\/span>\uff1a\u7b2c\u4e00\u662f\u5224\u5b9a\u5b8f\u89c0\u7d93\u6fdf<\/span>\uff0c\u7b2c\u4e8c\u662f\u5728\u4e0d\u540c\u968e\u6bb5\u7684\u7d93\u6fdf\u9031\u671f\u4e0b\uff0c\u7528\u4e0d\u540c\u7684\u8cc7\u7522\u914d\u7f6e<\/span>\u3002\u770b\u770b\u4e0b\u5716\u7684\u7c21\u55ae\u5c55\u793a\uff1a<\/span><\/p>\n

 <\/p>\n

\"<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

Target Drawdown ETF \u4e0d\u53ea\u662frisk on\/risk off \u7684\u4e8c\u5143\u5224\u5b9a\uff0c\u800c\u662f\u5224\u5b9a\u51fa\u516d\u500b\u968e\u6bb5\u7684\u7d93\u6fdf\u9031\u671f<\/span>\uff0c\u7136\u5f8c\u65bc\u6bcf\u4e00\u500b\u968e\u6bb5\u6709\u76f8\u5c0d\u61c9\u7684\u8cc7\u7522\u914d\u7f6e\u3002\u4f8b\u5982\u7b2c\u4e09\u671f\u7d93\u6fdf\u5fa9\u7526\u671f\uff0c\u4fbf\u6301\u6709\u5546\u54c1\u3001\u80a1\u7968\u53ca\u50b5\u5238\uff0c\u7576\u4e2d\u5546\u54c1\u53ca\u80a1\u7968\u7684\u6bd4\u91cd\u4f54\u591a\uff1b\u53c8\u4f8b\u5982\u7b2c\u516d\u671f\u7684\u7d93\u6fdf\u64f4\u5145\u672b\u671f\uff0c\u4fbf\u53ea\u6301\u6709\u73fe\u91d1\u53ca\u653f\u5e9c\u570b\u50b5\u3002<\/span><\/p>\n

 <\/p>\n

\n

 <\/p>\n

\u5982\u4f55\u5283\u5206\u7d93\u6fdf\u9031\u671f\uff1f<\/span><\/strong><\/span><\/p>\n

 <\/p>\n

ETF \u641e\u624b\u6709\u4ed6\u5011\u7684proprietary \u7cfb\u7d71\uff0c\u540d\u53ebCyclical Asset Reallocation Algorithm (CARA) \uff0c\u6309\u641e\u624b\u7684\u6587\u7ae0(\u898b\u6b64<\/a>)\u00a0 \uff0cCARA \u4e3b\u8981\u4ee53\u65b9\u9762\u53bb\u5224\u5b9a\u7d93\u6fdf\u9031\u671f\uff1a<\/span><\/p>\n

 <\/p>\n

    \n
  1. Shape of the yield curve;<\/span><\/li>\n
  2. Corporate earnings; and<\/span><\/li>\n
  3. Technical market trends.<\/span><\/li>\n<\/ol>\n

     <\/p>\n

    \u518d\u8a73\u7d30\u5982\u4f55\u8a08\u7b97\u5c31\u6c92\u6709\u516c\u958b\uff0c\u6309\u641e\u624b\u6587\u7ae0\u7684\u63cf\u8ff0\uff0c\u7b2c1\u65b9\u9762\u7684\u5229\u7387\u66f2\u7dda(yield curve ) \u7747\u52a0\u6e1b\u606f\u53ca\u66f2\u7dda\u7684\u659c\u7387\uff0c\u7b2c2\u65b9\u9762\u7684\u4f01\u696d\u76c8\u5229\u7747\u589e\u52a0\u6216\u6e1b\u5c11\uff0c\u7b2c3\u65b9\u9762\u7684\u6230\u8853\u6307\u6a19\u7747\u5e02\u5834\u50f9\u683c\u7684\u8b8a\u5316\uff0c\u4f8b\u5982\u7528moving average \u3002<\/span><\/p>\n

     <\/p>\n

      \n
    1. Yield curve<\/span>: A steep\/steepening yield curve equates to favorable economic conditions;<\/span><\/li>\n
    2. Earnings<\/span>: Rising earnings of large companies equates to favorable economic conditions; and<\/span><\/li>\n
    3. Technical market conditions<\/span>: The increase in ratio of recent equity market price relative to past price is indicative of favorable economic conditions.<\/span><\/li>\n<\/ol>\n

       <\/p>\n

      \u641e\u624b\u6587\u7ae0\u4ea6\u6307\u51fa\u982d\u5169\u500b\u5224\u5b9a\u56e0\u70ba\u300c\u6709\u6548\u5e02\u5834\u300d\u7684\u95dc\u4fc2\uff0c\u6703\u5305\u542b\u65bc\u7b2c\u4e09\u500b\u5224\u5b9a\u4e4b\u5167\uff0c\u5373\u662f\u7528\u5927\u5e02\u50f9\u683c\u7684moving average \u53bb\u5224\u5b9a\u7d93\u6fdf\u9031\u671f\u6703\u4f54\u8f03\u5927\u6bd4\u91cd\u3002<\/span><\/p>\n

       <\/p>\n

      \"<\/a><\/p>\n

       <\/p>\n

      \n

       <\/p>\n

      \u5982\u4f55\u914d\u7f6e\u8cc7\u7522\uff1f<\/span><\/strong><\/span><\/p>\n

       <\/p>\n

      \u6b64Target Drawdown ETF \u7cfb\u5217\u6700\u5927\u8ce3\u9ede\u662f\u63a7\u5236drawdown<\/span>\uff0c\u63a7\u5236\u4e0b\u8dcc\u7684\u65b9\u6cd5\u662f\u6e1b\u5c11\u6301\u6709\u98a8\u96aa\u8cc7\u7522 (risky asset)<\/span> \u3002<\/span><\/p>\n

       <\/p>\n

      \u4e0d\u904e\uff0c\u9019\u88cf\u7684\u98a8\u96aa\u8cc7\u7522(risky asset) \u8207\u5e73\u5e38\u7684\u98a8\u96aa\u5b9a\u7fa9\u6709\u6240\u4e0d\u540c\u3002\u5e73\u5e38\u7684\u9ad8\u98a8\u96aa\u7b49\u540c\u9ad8\u6ce2\u5e45\uff0c\u6240\u4ee5\u80a1\u7968\u7684\u98a8\u96aa\u662f\u9ad8\u65bc\u50b5\u5238\uff0c\u6c92\u6709\u7d93\u6fdf\u9031\u671f\u4e4b\u5206\u3002\u4f46\u5728CARA \u88cf\uff0c\u8cc7\u7522\u7684\u98a8\u96aa\u662f\u5c0d\u61c9\u65bc\u7d93\u6fdf\u9031\u671f\u3002\u4f8b\u5982\u5728\u7b2c\u516d\u968e\u6bb5\u6642\u671f\uff0c\u80a1\u7968\u53ca\u5546\u54c1\u90fd\u5c6c\u65bc\u9ad8\u98a8\u96aa\uff0c\u56e0\u800c\u6e1b\u5c11\u6301\u6709\uff1b\u53c8\u4f8b\u5982\u5728\u7b2c\u56db\u968e\u6bb5\u7684\u7d93\u6fdf\u64f4\u5145\u671f\uff0c\u50b5\u5238\u5c6c\u65bc\u9ad8\u98a8\u96aa\u800c\u4e0d\u6301\u6709\uff0c\u53cd\u800c\u589e\u52a0\u6301\u6709\u623f\u5730\u7522\u80a1\u7968\u53ca\u539f\u6750\u6599\u5546\u54c1\u3002<\/span><\/p>\n

       <\/p>\n

      \"<\/a><\/p>\n

       <\/p>\n

      \u7531\u65bcTarget Drawdown \u7cfb\u5217\u6709\u4e0d\u540c\u7684\u4e0b\u8dcc\u8a2d\u5b9a\uff0c\u800c\u641e\u624b\u8a8d\u70ba\u6108\u65e9\u964d\u4f4e\u98a8\u96aa\u8cc7\u7522\uff0c\u4fbf\u6703\u6108\u80fd\u964d\u4f4edrawdown<\/span> \uff0c\u6240\u4ee55% drawdown \u8a2d\u5b9a\u7684TSDA \u820716% drawdown \u8a2d\u5b9a\u7684TSDE \u7684\u8cc7\u7522\u914d\u7f6e\u4fbf\u5927\u6709\u4e0d\u540c\u3002\u6210\u6587\u4e4b\u6642(2021\u5e742\u6708) \u7684\u914d\u7f6e\u5982\u4e0b\uff1a<\/span><\/p>\n

       <\/p>\n

      \"<\/a><\/p>\n

       <\/p>\n

      \"<\/a><\/p>\n

       <\/p>\n

       <\/p>\n

      \n

       <\/p>\n

      \u8a55\u8ad6<\/span><\/strong><\/span><\/p>\n

       <\/p>\n

      \u7b46\u8005\u4e00\u5411\u5514\u591abuy\u7d93\u6fdf\u9031\u671f<\/a>\u3001\u725b\u718a\u9031\u671f<\/a>\u4e4b\u985e\u7684\u8ad6\u8aaa\uff0c\u6240\u8b02\u7684\u968e\u6bb5\u5f80\u5f80\u4e8b\u5f8c\u624d\u77e5\u9053\u3002\u6cc1\u4e14\uff0c\u5c31\u4e0a\u8ff0\u516d\u968e\u6bb5\u7684\u7d93\u6fdf\u9031\u671f\u70ba\u4f8b\uff0c\u70ba\u4f55\u8981\u7531\u7b2c\u4e00\u968e\u6bb5\u53bb\u7b2c\u4e8c\u968e\u6bb5\u518d\u53bb\u7b2c\u4e09\uff1f\u5012\u8fd4\u8f49\u5f97\u5514\u5f97\uff1f\u7b2c\u4e00\u968e\u6bb5\u4e4b\u5f8c\u8df3\u53bb\u7b2c\u56db\u968e\u6bb5\u53c8\u5f97\u5514\u5f97\uff1f<\/span><\/p>\n

       <\/p>\n

      \u81f3\u65bcCARA\u5982\u4f55\u7528\u5229\u7387\u66f2\u7dda\u3001\u4f01\u696d\u76c8\u5229\u8207\u53ca\u50f9\u683c\u8d70\u52e2<\/span>\u53bb\u5224\u5b9a\u516d\u500b\u968e\u6bb5\uff0c\u5c31\u66f4\u4e0d\u5f97\u800c\u77e5\u3002\u5982\u679c\u53ef\u4ee5\u50cf\u7b46\u8005\u5982\u4f55\u5b9a\u7fa9\u725b\u718a(\u898b\u6b64<\/a>) \u5c31\u6703\u900f\u660e\u6613\u8ddf\u3002<\/span><\/p>\n

       <\/p>\n

      \u81f3\u65bc\u5982\u4f55\u8abf\u6574\u8cc7\u7522\u914d\u7f6e<\/span>\u53bb\u9054\u5230\u4e0d\u540c\u76845%\u30017%\u300110%\u300113%\u300116% drawdown \u8a2d\u5b9a\uff0ctarget drawdown ETF\u4ea6\u6c92\u6709\u8209\u4f8b\u8aaa\u660e\u3002\u7b46\u8005\u8a8d\u70ba\u53ef\u80fd\u662f\u6c34\u6efe\u7184\u706b<\/span>\uff0c\u5373\u662f\u5230\u9054\u67d0\u4e00drawdown \u767e\u5206\u6bd4\u5c31\u7531\u98a8\u96aa\u8cc7\u7522\u8f49\u53bb\u73fe\u91d1<\/span>\uff0c\u4ee5\u4fdd\u6301drawdown \u767e\u5206\u6bd4\u8ddfETF \u76ee\u6a19\u4e00\u81f4\u3002\u65bc\u662f5\u96bbETF\u7f8e\u5176\u540d\u662f\uff02target drawdown\uff02fund\uff0c\u5176\u5be6\u5be6\u969b\u4e0a\u53ea\u662f\u4e0d\u540c\u80a1\u50b5\u6bd4\u4f8b\u7684\u6df7\u5408\u8cc7\u7522\u57fa\u91d1<\/span>\uff0c\u5f37\u7a4d\u91d1\u5167\u6709\u4e00\u5927\u5806\u76f8\u4f3c\u7684\u57fa\u91d1\uff0c\u53ea\u662f\u6c92\u6709\u523b\u610f\u8868\u660edrawdown \u767e\u5206\u6bd4\u800c\u5df2\u3002<\/span><\/p>\n

       <\/p>\n

      \u6b64target drawdown ETF \u7cfb\u5217\u65bc2020\u5e749\u6708\u624d\u958b\u59cb\u904b\u4f5c\uff0c\u53ef\u60dc\u672a\u67092020\u5e743\u6708\u7194\u65b7\u6642\u7684\u5be6\u6230\u8868\u73fe\u4f5c\u53c3\u8003\uff0c\u8981\u904e\u4e00\u4e9b\u6642\u9593\u518d\u770b\u770b\u5176\u8868\u73fe\u662f\u5426\u80fd\u5982\u4e0b\u5716\u822c\u795e\u52c7\u3002<\/span><\/p>\n

       <\/p>\n

       <\/p>\n

      \"<\/a><\/p>\n

       <\/p>\n

       <\/p>\n

       <\/p>\n

       <\/p>\n

       <\/p>\n

      \u5ef6\u4f38\u95b1\u8b80<\/strong><\/span><\/p>\n

       <\/p>\n

      https:\/\/cabanaetfs.com\/series-overview<\/a><\/p>\n

       <\/p>\n

      https:\/\/thecabanagroup.com\/white-papers\/<\/a><\/p>\n

       <\/p>\n

       <\/p>\n

       <\/p>\n

      \u4e0b\u6587\u7e8c<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

      \u6230\u8853\u6027\u914d\u7f6eETF#6 – Target Drawdown   \u5148\u8b80\u524d\u6587\uff1a   …<\/p>\n","protected":false},"author":1,"featured_media":5589,"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":[54,30,22,44,48,53,56],"class_list":["post-5572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-position-sizing","tag-sharpe-ratio","tag-22","tag-44","tag-48","tag-53","tag-56"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/02\/TDSA1.jpg?fit=258%2C482&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-1rS","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5572"}],"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=5572"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5572\/revisions"}],"predecessor-version":[{"id":5686,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5572\/revisions\/5686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/5589"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=5572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=5572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=5572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}