{"id":5694,"date":"2021-04-04T22:45:21","date_gmt":"2021-04-04T14:45:21","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=5694"},"modified":"2022-03-23T05:24:00","modified_gmt":"2022-03-22T21:24:00","slug":"%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf10-ivol","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2021\/04\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf10-ivol\/","title":{"rendered":"\u6230\u8853\u6027\u914d\u7f6eETF#10 &#8211; IVOL"},"content":{"rendered":"<h2><span style=\"font-size: 14pt; color: #04b2f2;\">\u6230\u8853\u6027\u914d\u7f6eETF#10 &#8211; IVOL<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u5148\u8b80\u524d\u6587\uff1a<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"entry-title\"><span style=\"font-size: 14pt;\"><a href=\"https:\/\/www.mpfdiy.com\/2021\/01\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf1-wiz\/\" rel=\"bookmark\">\u6230\u8853\u6027\u914d\u7f6eETF#1 \u2013 WIZ<\/a><\/span><\/p>\n<p class=\"entry-title\"><span style=\"font-size: 14pt;\"><a href=\"https:\/\/www.mpfdiy.com\/2021\/01\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf2-pws\/\" rel=\"bookmark\">\u6230\u8853\u6027\u914d\u7f6eETF#2 \u2013 PWS<\/a><\/span><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/02\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf3-onof\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#3 \u2013 ONOF<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/02\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf4-roro\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#4 \u2013 RORO<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/02\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf5-htus\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#5 &#8211; HTUS<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf6-target-drawdown\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#6 &#8211; Target Drawdown<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf7-deltashares\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#7 &#8211; DeltaShares<\/span><\/a><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/www.mpfdiy.com\/2021\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf8-rpar\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u6230\u8853\u6027\u914d\u7f6eETF#8 &#8211; RPAR<\/a><\/span><\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2021\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf9-target-buffer\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: 14pt;\">\u6230\u8853\u6027\u914d\u7f6eETF#9 \u2013 Target Buffer<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9019\u500b\u6230\u8853\u6027\u914d\u7f6eETF\u7cfb\u5217\u5230\u4e86<span style=\"color: #04b2f2;\">\u7b2c10\u96bbETF<\/span> \uff0c\u4e0d\u77e5\u5927\u5bb6\u6709\u4ec0\u9ebc\u611f\u89ba\uff1f\u5f88\u7169\u5f88\u60b6\uff1f\u9084\u662f\u6709\u65b0\u7684\u7b56\u7565\u53ef\u4ee5\u5b78\u7fd2\u89ba\u5f97\u597d\u958b\u5fc3\uff1f \u7b46\u8005\u4e00\u5b9a\u662f\u5f8c\u8005\uff0c\u56e0\u70ba\u6295\u8cc7\u7522\u54c1\u4e0d\u65b7\u63a8\u9673\u51fa\u65b0\uff0c\u4e0d\u65b7\u6709\u9ad8\u4eba\u63d0\u51fa\u65b0\u7684\u6295\u8cc7\u7b56\u7565\u7d66\u4eba\u5b78\u7fd2\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u672c\u6587\u7684ETF \u4ee3\u865f\u53eb<span style=\"color: #04b2f2;\"><strong>IVOL<\/strong><\/span>\uff0c\u5168\u540d\u4e00\u9663\u5148\u8b1b\uff0c\u73fe\u5728\u5148\u8b1b\u4e00\u4e9b\u57fa\u672c\u8cc7\u6599\uff0c\u4ee4\u5927\u5bb6\u660e\u767d\u9019\u96bbIVOL \u8207\u5225\u4e0d\u540c\u4e4b\u8655\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL5.png?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5711 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL5.png?resize=694%2C179&#038;ssl=1\" alt=\" \" width=\"694\" height=\"179\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL5.png?w=694&amp;ssl=1 694w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL5.png?resize=300%2C77&amp;ssl=1 300w\" sizes=\"auto, (max-width: 694px) 100vw, 694px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u7b46\u8005\u8a8d\u70baIVOL \u662f\u8fd1\u5e74\u4f86<span style=\"color: #04b2f2;\">\u975e\u5e38\u7f55\u6709\u7684ETF<\/span> \uff0c\u56e0\u70ba\u6b64ETF \u6295\u8cc7\u65bc\u4e00\u7a2e\u6563\u6236\u672a\u80fd\u6d89\u8db3\u7684\u8cc7\u7522\u985e\u5225(asset class) \u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 14pt;\">\u8cc7\u7522\u985e\u5225(asset class) \u662f\u8cc7\u7522\u914d\u7f6e(asset allocation) \u7684\u57fa\u77f3\uff0c\u4e0d\u540c\u985e\u5225\u7684\u8cc7\u7522\u914d\u7f6e\u5927\u9ad4\u4e0a\u90fd\u662f\u6e38\u8d70\u65bc\u4e0d\u540c\u7684\u8cc7\u7522\u985e\u5225\u3002\u5178\u578b\u7684\u8cc7\u7522\u985e\u5225\u662f<span style=\"color: #04b2f2;\">\u80a1\u7968\u53ca\u50b5\u5238<\/span>\uff0c\u975e\u5178\u578b\u7684\u662f\u524d\u6587\u63d0\u53ca\u7684<strong>\u300c\u98a8\u96aa\u300d<\/strong>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u5176\u5be6<strong>\u300c\u98a8\u96aa\u300d<\/strong>\u9019\u9805\u8cc7\u7522\u5927\u5bb6\u7d93\u5e38\u63a5\u89f8\uff0c\u53ea\u662f\u6c92\u6709\u7279\u5225\u7559\u610f\uff0c\u4ea6\u6c92\u6709\u628a\u5b83\u7368\u7acb\u51fa\u4f86\u8cb7\u8ce3\u3002\u4f8b\u5982\u512a\u8cea\u50b5\u8207\u5783\u573e\u50b5\u7684\u5206\u5225\uff0c\u5c31\u662f\u5783\u573e\u50b5\u7684\u6295\u8cc7\u8005\u9858\u610f\u4e00\u908a\u4eab\u53d7\u9ad8\u5229\u606f\uff0c\u4e00\u908a\u6301\u6709\u300c\u9055\u7d04\u98a8\u96aa\u300d\u9019\u9805\u8cc7\u7522\u3002\u800c\u8fd1\u5e74\u4f86\u5927\u5bb6\u7565\u6709\u6240\u805e\u7684\u6050\u614c\u6307\u6578VIX \uff0c\u5c31\u662f<span style=\"color: #04b2f2;\">\u80a1\u7968\u6307\u6578\u7684\u300c\u98a8\u96aa\u300d<\/span>(\u6ce2\u5e45) \uff0c\u800c\u4e14\u5df2\u7d93\u6709\u4e00\u5806ETF \u5c07\u9019\u4e9bVIX<span style=\"color: #04b2f2;\">\u300c\u80a1\u7968\u98a8\u96aa\u300d\u8b8a\u6210\u8cc7\u7522<\/span>\uff0c\u8b93\u6563\u6236\u53ef\u4ee5\u8cb7\u8ce3<span style=\"color: #04b2f2;\">\u300c\u80a1\u7968\u98a8\u96aa\u300d<\/span>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u65e2\u7136\u80a1\u7968\u7684\u98a8\u96aa\u53ef\u4ee5\u8b8a\u6210\u8cc7\u7522\uff0c\u90a3\u9ebc\uff0c\u8207\u80a1\u7968\u4e26\u5217\u7684<span style=\"color: #04b2f2;\">\u50b5\u5238\uff0c\u5176\u98a8\u96aa(fixed income volatility)<\/span> \u53c8\u53ef\u4ee5\u8b8a\u6210\u8cc7\u7522\u55ce\uff1f<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u53c8\u6216\u8005\u518d\u6e96\u78ba\u4e00\u9ede\uff0c<span style=\"color: #04b2f2;\">\u5229\u7387\u8b8a\u5316\u7684\u98a8\u96aa<\/span>\u53ef\u4ee5\u8b8a\u6210\u8cc7\u7522\u55ce\uff1f<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">IVOL \u9019\u96bbETF \uff0c\u5c31\u662f\u8b93\u6563\u6236\u80fd\u5920\u8cb7\u5165<span style=\"color: #04b2f2;\">\u300c\u5229\u7387\u98a8\u96aa\u300d\u9019\u9805\u8cc7\u7522<\/span>\uff0c\u50cfVIX ETF \u8b93\u6563\u6236\u80fd\u5920\u8cb7\u5165\u300c\u80a1\u5e02\u98a8\u96aa\u300d\u9019\u9805\u8cc7\u7522\u4e00\u6a23\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u597d\u4e86\uff0c\u8b1b\u5b8c\u80cc\u666f\u8cc7\u6599\uff0c\u5c31\u8b1bIVOL \u662f\u4ec0\u9ebc\u6771\u6771\uff1f<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">IVOL \u5168\u540d\u53eb Quadratic Interest Rate Volatility <\/span><span style=\"font-size: 14pt;\">and Inflation Hedge ETF\uff0c\u57fa\u672c\u4e0a\u6295\u8cc7\u65bc<span style=\"color: #04b2f2;\">\u5169\u7a2e\u6295\u8cc7\u7269\uff0c\u4e00\u6a23\u662fTIPS \uff0c\u53e6\u4e00\u6a23\u662fCMS (constant maturity swap)<\/span>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5713 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?resize=720%2C277&#038;ssl=1\" alt=\" \" width=\"720\" height=\"277\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?resize=300%2C116&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?resize=1024%2C394&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL3.jpg?resize=768%2C296&amp;ssl=1 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">TIPS \u662f\u7f8e\u570b\u662f\u6297\u901a\u8139\u50b5\u5238\uff0c\u8207\u9999\u6e2f\u7684iBond \u76f8\u4f3c\u4f46\u4e0d\u4e00\u6a23\uff0c\u898b<a href=\"https:\/\/www.mpfdiy.com\/2018\/12\/%e9%80%80%e4%bc%91%e7%90%86%e8%b2%a17-%e9%8a%80%e8%89%b2%e5%82%b5%e5%88%b8\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u524d\u6587<\/a>\uff0c\u6301\u6709TIPS \u7684\u8cfa\u9322\u6642\u671f\u662f\u901a\u8139\u7387\u4e0a\u5347\u3002CMS (constant maturity swap) \u662f\u5229\u7387\u6389\u671f\u7684\u4e00\u985e\uff0c\u6301\u6709CMS \u5c31\u50cf\u6301\u6709\u5229\u7387\u7684option (\u671f\u6b0a) \uff0c\u7576<span style=\"color: #04b2f2;\">\u5229\u7387\u51fa\u73fe\u5927\u5e45\u8b8a\u5316<\/span>\uff0c\u6216\u8005<span style=\"color: #04b2f2;\">\u5229\u7387\u66f2\u7dda\u7684\u659c\u7387\u589e\u5927<\/span>\uff0c\u5373\u662f\u66f4\u659c\uff0c\u53c8\u5373\u662f<span style=\"color: #04b2f2;\">\u9577\u5e74\u671f\u50b5\u5238\u7684\u606f\u7387\u8207\u77ed\u5e74\u671f\u50b5\u5238\u7684\u606f\u7387\u7684\u76f8\u5dee\u64f4\u5927<\/span>\uff0c\u9019\u6642\u6301\u6709CMS \u7684\u6295\u8cc7\u8005\u4fbf\u6703\u8cfa\u9322\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u7d9c\u5408\u4f86\u8aaa\uff0c\u5373\u662f<strong>\u52a0\u606f(TIPS) \u6216\u606f\u7387\u5927\u5e45\u8b8a\u5316(CMS)<\/strong> \u7684\u6642\u671f\uff0cIVOL \u9019\u96bbETF \u4fbf\u6703\u8cfa\u9322\uff1b\u76f8\u53cd\uff0c\u7576\u901a\u7e2e\uff0c\u5229\u7387\u66f2\u7dda\u62c9\u5e73\u6216\u5012\u639b\uff0c\u606f\u7387\u5187\u8b8a\u5316\u7684\u6642\u671f\uff0cIVOL \u4fbf\u6703\u8755\u9322\u3002\u898b\u4e0b\u5716\uff1a<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5714 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?resize=720%2C326&#038;ssl=1\" alt=\" \" width=\"720\" height=\"326\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?resize=300%2C136&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?resize=1024%2C463&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL2.jpg?resize=768%2C348&amp;ssl=1 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u65bc\u6210\u6587\u4e4b\u6642(2021\u5e743\u6708)\uff0c\u7f8e\u570b\u570b\u50b5\u5229\u7387\u66f2\u7dda<span style=\"color: #04b2f2;\">\u7531flat (\u6301\u5e73) \u8f49\u53bbsteep (\u50be\u659c)<\/span>\uff0cflat \u662f\u77ed\u671f\u5229\u7387(\u4f8b\u59822\u5e74) \u8207\u9577\u671f\u5229\u7387(\u4f8b\u598210\u5e74) \u5dee\u4e0d\u591a\uff0csteep \u6307\u9577\u671f\u5229\u7387\u9ad8\u65bc\u77ed\u671f\u5229\u7387\u3002\u7531\u65bc2019\u30012020\u5e74\u6642\u7f8e\u570b\u570b\u50b5\u7684\u5229\u7387\u66f2\u7dda\u662fflat \u7684\u72c0\u614b\uff0c\u7576\u5b83\u6b63\u5e38\u5316(normalize)\u00a0 \u7684\u6642\u5019\uff0c\u5229\u7387\u66f2\u7dda\u4fbf\u6703steepen \uff0c\u5229\u7387\u7684volatility \u589e\u5927\uff0cflat \u6642\u671f\u8cb7\u5165\u7684CMS \u4fbf\u6703\u8cfa\u9322\u3002\u6240\u4ee52019\u5e74\u9762\u4e16\u7684IVOL\uff0c\u65bc2021\u5e74\u7b2c\u4e00\u5b63\u7f8e\u50b5\u4e0b\u8dcc\u6642\uff0cIVOL ETF \u7684\u50f9\u683c\u56e0\u70ba\u5229\u7387\u6b63\u5e38\u5316\u800c\u4e0a\u5347\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5715 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?resize=720%2C341&#038;ssl=1\" alt=\" \" width=\"720\" height=\"341\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?resize=300%2C142&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?resize=1024%2C486&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL6.jpg?resize=768%2C364&amp;ssl=1 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">IVOL \u53e6\u4e00\u500b\u7279\u9ede\uff0c\u5c31\u662f\u8207\u5176\u4ed6\u7684<span style=\"color: #04b2f2;\">asset class \u7684\u95dc\u806f\u7cfb\u6578\u63a5\u8fd1\u96f6<\/span>\uff0c\u5373\u662f<span style=\"color: #04b2f2;\">\u7121\u95dc\u4fc2<\/span>\u3002\u4e0d\u540c\u7684asset class \u5f7c\u6b64\u4e4b\u9593\u7121\u95dc\u4fc2\u662f\u975e\u5e38\u91cd\u8981\uff0c\u9019\u53ef\u4ee5\u4ee4asset allocation \u6709\u66f4\u591a\u53ef\u64cd\u4f5c\u7684\u65b9\u5411\uff0c\u88fd\u6210\u66f4\u591a\u9069\u5408\u7684\u7b56\u7565\uff0c\u898b<a href=\"https:\/\/www.mpfdiy.com\/2020\/08\/%e6%96%b0%e4%b8%96%e4%bb%a3%e8%b3%87%e7%94%a2%e9%85%8d%e7%bd%ae-bitcoin\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u524d\u6587<\/a>\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5716 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?resize=720%2C228&#038;ssl=1\" alt=\" \" width=\"720\" height=\"228\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?w=1141&amp;ssl=1 1141w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?resize=300%2C95&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?resize=1024%2C324&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL1.jpg?resize=768%2C243&amp;ssl=1 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u53c8interest rate \u53c8yield curve \u53c8 steepening\u53c8inflation \u53c8 swap \u53c8uncorrelated\u597d\u4f3c\u597d\u8907\u96dc\uff0c\u597d\u96e3\u660e\uff0c\u9019\u4e0d\u5c31\u662f\u589e\u9577\u77e5\u8b58\u812b\u96e2\u521d\u54e5\u884c\u5217\u7684\u5927\u597d\u6a5f\u6703\u55ce\uff1f\u4e00\u9f4a\u4f86\u770b\u770bIVOL \u7684\u5ba3\u50b3\u55ae\u5f35\u4f86\u5b78\u7fd2\u4e00\u4e0b fixed income volatility \u9019\u7a2e\u65b0\u985e\u578b\u8cc7\u7522\u985e\u5225\uff1a<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.ivoletf.com\/wp-content\/uploads\/2021\/01\/2020_12_31_ivol_factsheet.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">\u6309\u4e00\u4e0b\u4ee5\u5b58\u53d6 2020_12_31_ivol_factsheet.pdf<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u5973\u6027\u65bc\u83ef\u723e\u8857\u53ca\u6295\u8cc7\u754c\u4e00\u5411\u662f\u82b1\u74f6\u89d2\u5f0f\uff0c\u7d66\u5927\u773e\u7684\u5370\u8c61\u5927\u662f\u8ce3\u6a23\u591a\u904e\u8ce3\u5be6\u529b(\u5373\u50cf\u9999\u6e2f\u7684\u65b0\u805e\u82b1\u65e6\u65bc\u6295\u8cc7\u754c\u7684\u5de5\u4f5c) \uff1b\u66f4\u53ef\u6cc1option \u53ca\u606f\u7387\u9019\u4e9b\u4ee5\u6578\u5b78\u70ba\u4e3b\u7684\u8a08\u91cf\u91d1\u878d\u9818\u57df\uff0c\u4e00\u5411\u7531\u7537\u6027\u6240\u4e3b\u5c0e\uff0c\u5973\u6027\u901a\u5e38\u8b1b\u5b8coption \u90fd\u5514\u77e5\u81ea\u5df1\u8b1b\u54a9\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL4.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" title=\" \"loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5717 size-full\" src=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL4.jpg?resize=599%2C593&#038;ssl=1\" alt=\" \" width=\"599\" height=\"593\" srcset=\"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL4.jpg?w=599&amp;ssl=1 599w, https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL4.jpg?resize=300%2C297&amp;ssl=1 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">IVOL \u7684\u641e\u624b\u53ebNancy Davis (\u4e0a\u5716)\uff0c\u6309\u5916\u8868\u4f86\u8aaa\u90fd\u53ef\u4ee5\u88ab\u5217\u5165\u8ce3\u6a23\u4e4b\u5217\u3002\u4e0d\u904e\uff0cNancy Davis \u7d93\u5e38\u63a5\u53d7\u8a2a\u554f\u4e26\u4e14\u55ae\u6311\u4e00\u773e\u7537\u6027\u5c08\u5bb6\uff0c\u5012\u8b93\u7b46\u8005\u6709\u8208\u8da3\u7747\u7747Nancy Davis \u6709\u5e7e\u591a\u65a4\u5169\uff0c\u4e00\u540c\u770b\u770b\u4ee5\u4e0b\u77ed\u7247\uff1a<\/span><\/p>\n<p>&nbsp;<\/p>\n<div class=\"jetpack-video-wrapper\"><iframe loading=\"lazy\" title=\"Nancy Davis: Convexity Trading, Inflation and IVOL\" width=\"720\" height=\"405\" src=\"https:\/\/www.youtube.com\/embed\/0jMS2k_xy1w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u6b64\u6bb5\u7247\u95771\u5c0f\u6642\uff0cNancy\u8207\u4e09\u4f4d\u7537\u58eb\u4ea4\u6d41\uff0c\u90a3\u4e09\u4f4d\u7537\u58eb\u662fReSolve asset management \u7684\u9ad8\u5c64\uff0c\u5927\u5bb6\u770b\u770bReSolve \u7684\u516c\u53f8<a href=\"https:\/\/investresolve.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u7db2\u7ad9<\/a>\uff0c\u90fd\u77e5\u9053\u90a3\u4e09\u4f4d\u7537\u58eb\u90fd\u662frisk parity \u3001tactical asset allocation \u7b49\u8fd1\u4ee3\u6295\u8cc7\u7b56\u7565\u7684\u5c08\u5bb6\uff0c\u7b46\u8005\u5e73\u6642\u90fd\u6709\u7747\u958bReSolve \u7684\u7814\u7a76<a href=\"https:\/\/investresolve.com\/research\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u6587\u7ae0<\/a>\u3002\u5728\u6b641\u5c0f\u6642\u7684\u8a2a\u554f\u7576\u4e2d\uff0cNancy \u9762\u5c0d\u4e09\u4f4d\u6295\u8cc7\u5c08\u5bb6\u7684\u63d0\u554f\uff0c\u90fd\u986f\u5f97\u6e38\u5203\u6709\u9918\uff0c\u65bcoption\u3001interest rate \u3001TIPS \u9019\u4e9b\u6295\u8cc7\u985e\u5225\uff0c<span style=\"color: #04b2f2;\">Nancy Davis \u90fd\u6709\u7368\u5230\u7684\u898b\u89e3\uff0c\u800c\u4e14\u5341\u5206\u5c08\u696d\uff0c\u4ee4\u7b46\u8005\u53e6\u773c\u76f8\u770b<\/span>\u3002\u7e7c\u5951\u5abd\u4e4b\u5f8c\uff0c\u5927\u5bb6\u53ef\u4ee5\u7559\u610f\u4e00\u4e0bNancy Davis \uff0c\u8a71\u5514\u5b9a\u6703\u6210\u70ba\u773e\u4eba\u7684\u5951\u59d0\uff0c\u8ddf\u4f62\u63fe\u98df\u3002\u4e0d\u904e\u524d\u984c\u662f\u8981\u77e5\u9053IVOL \u505a\u5572\u54a9\u5622\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: 14pt;\">\u5c0f\u7d50<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">IVOL \u662f\u4e00\u96bb\u5f88\u6709\u5275\u610f\u7684\u65b0\u985e\u578bETF \uff0c\u5c07fixed income volatility \u88fd\u4f5c\u6210asset class \u4f9b\u6563\u6236\u8cb7\u8ce3\uff0c\u5341\u5206\u96e3\u5f97\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u76f8\u4fe1\u4ee5Nancy Davis \u7684\u624d\u80fd\uff0c\u61c9\u8a72\u4e0d\u6b62\u65bc\u5275\u9020\u4e00\u96bbinterest rate option \u7684IVOL \uff0c\u9084\u6709\u5979\u64c5\u9577\u7684equity\u3001FX\u3001credit\u3001 commodities\uff0c\u671f\u671b\u65e5\u5f8c\u5979\u80fd\u5275\u88fd\u51fa\u66f4\u7a00\u6709\u66f4\u7279\u5225\u7684ETF \uff0c\u8b93\u6211\u7b49\u6563\u6236\u53ef\u4ee5\u6709\u5b78\u7fd2\u7684\u5c0d\u8c61\u3002IVOL\u9762\u4e16\u672a\u5920\u5169\u5e74\uff0c\u8cc7\u7522\u5df2\u7d93\u670926\u5104\u7f8e\u91d1\uff0c\u53ef\u898b\u5e02\u5834\u5c0dfixed income volatility \u7522\u54c1\u7684\u9700\u6c42\u6bb7\u5207\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u9999\u6e2f\u7684\u8ca1\u7d93\u7bc0\u76ee\u90fd\u6709\u5f88\u591a\u53e3\u6c34\u4f6c\u53ca\u53e3\u6c34\u5a46\u8b1boption \uff0c\u4f46\u8207Nancy Davis \u76f8\u6bd4\uff0c\u771f\u662f\u96f2\u6ce5\u4e4b\u5225\u3002\u5e0c\u671b\u6709\u5fd7\u4e4b\u58eb\u80fd\u5411\u771f\u6b63\u7684\u5c08\u5bb6\u5b78\u7fd2\uff0c\u8b93\u81ea\u5df1\u7684\u6295\u8cc7\u77e5\u8b58\u4e0d\u65b7\u589e\u9577\uff0c\u50cf\u7b46\u8005\u4e00\u6a23\u80fd\u5f9e IVOL \u88cf\u5b78\u7fd2\u4e86\u65b0\u7a4e\u7684ETF\u53ca\u5c0d\u50b5\u5238\u98a8\u96aa\u7684\u770b\u6cd5\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14pt;\">\u5171\u52c9\u4e4b<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.mpfdiy.com\/2022\/03\/%e6%88%b0%e8%a1%93%e6%80%a7%e9%85%8d%e7%bd%aeetf11-letb\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e0b\u6587\u7e8c<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6230\u8853\u6027\u914d\u7f6eETF#10 &#8211; IVOL &nbsp; &nbsp; \u5148\u8b80\u524d\u6587\uff1a &nbsp; \u6230\u8853\u6027&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5719,"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":[39,11,32,47,48,23],"class_list":["post-5694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-buy-hold","tag-etf","tag-32","tag-47","tag-48","tag-23"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2021\/03\/IVOL7.jpg?fit=716%2C483&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-1tQ","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5694","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=5694"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5694\/revisions"}],"predecessor-version":[{"id":6912,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/5694\/revisions\/6912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/5719"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=5694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=5694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=5694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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