Core Viewpoint - The article emphasizes the importance of controlling drawdowns in investment, especially in the context of recent market fluctuations, highlighting that achieving low drawdowns alongside high returns is a challenging goal for investors [2]. A-share Market Performance - As of October 2025, the A-share market has experienced varying levels of drawdown, with the Shanghai Composite Index showing the smallest drawdown of nearly 10%, while the ChiNext Index faced a maximum drawdown of approximately 21% [2]. - The performance of major A-share indices from January to October 2025 is as follows: - Shanghai Composite Index: +17.99% with a maximum drawdown of 9.71% - Shenzhen Component Index: +28.46% with a maximum drawdown of 14.98% - ChiNext Index: +48.84% with a maximum drawdown of 20.79% [3]. Private Fund Performance - In the "quantitative long" category, 27 products ranked in the top 30% for both returns and drawdown control, with a total of 825 products analyzed [4]. - The top five performing products in the quantitative long category for the year are from Jiuming Investment, Shengguanda, Evolutionary Asset, Beijing Guanghua Private Equity, and Qianhai Xuhui Asset [4]. - In the "subjective long" category, 29 products ranked in the top 20% for returns and drawdown control, out of 2156 products analyzed [9]. - The top five performing products in the subjective long category are from Junzhou Private Equity, Liangli Private Equity, Shanghai Ruixin Investment, Meigang Capital, and Fengyu Investment [9]. CTA Strategy Performance - In the CTA (Commodity Trading Advisor) category, 22 products ranked in the top 30% for returns and drawdown control, from a total of 557 products analyzed [13]. - The top five performing products in the CTA category are from Hangjingxinghe Asset, Yidao Asset, Zhixin Rongke, Fubeng Investment, and Alpha Private Equity [13]. Multi-Asset Strategy Performance - In the multi-asset strategy category, 29 products ranked in the top 20% for returns and drawdown control, from a total of 710 products analyzed [16]. - The top five performing products in the multi-asset category are from Guoyuan Xinda, Yiqiao Asset, Xiamen Zhendao Private Equity, Shanghai Congrong Investment, and Qianming Asset [16].