有朋友问， 债券基金有哪些分类，各自收益风险特征如何？ 短债、长债，该如何投资？ 什么时候适合买入「固收+」，该如何止盈？ 针对大家的这些疑问，螺丝钉也通过直播课，进行了讲解。 长按识别下面二维码，添加 @课程小助手 微信，回复「 0926 」即可观看直播回放。 （提示：回复后可以耐心等待几秒哦～） 债券基金的收益和波动风险 文 | 银行螺丝钉 （转载请注明出处） 债券基金，是我们最常见的资产大类之一。 与其他资产相比，有着自身的收益、风险特征。 如下，是 股票基金、债券基金和货币基金这三个资产大类，2012年以来的走势对比图。 可以看到，债券基金的收益和波动风险，介于货币基金和股票基金中间。 相比股票基金，债券基金的收益相对稳定，波动风险也较小。 除了波动风险，投资债券基金，还需要关注踩雷风险。 有的债基，短期里下跌10%以上，甚至百分之三四十，可能就是踩雷了。 规避债券基金踩雷，可以注意以下两个要点: 债券基金的类别 债券基金有很多类别。常见的债券基金有： （1）短期纯债基金。 例如 90天投顾组合 （点击查看介绍） 。 波动非常小，一般回撤在1%以内。长期收益比货币基金略高。 纯债基金的分类 纯债基金， ...

Group 1 - The core viewpoint of the articles highlights the significant growth in public fund management scale, reaching a historical high of 34.05 trillion yuan by the end of Q2 2025, driven by increasing investor interest in bond funds, which have become the second-largest fund type after money market funds [1] - Bond funds have seen a substantial increase in scale, with a growth of 865.32 billion yuan in Q2 2025, bringing the total to 10.77 trillion yuan [1] - Huian Fund has gained industry recognition in the pure bond investment sector, ranking 28th out of 82 in absolute return among pure bond funds with an average return of 31.05% over the past seven years [1] Group 2 - Several products from Huian Fund have been included in the bond fund "egg collection" list, with a focus on short-term bond funds designed for liquidity and transitional allocation [2] - The Huian Yongfu 90-day holding period short bond fund has gained popularity due to its consistent positive returns since its inception, achieving a total scale of 1.974 billion yuan by the end of Q2 2025, reflecting a growth of 897% from the previous quarter [2] - Different short bond funds have varying strategies; for instance, the Huian Yongfu fund employs strategies such as duration adjustment and high-grade credit bond selection while maintaining a focus on risk control and liquidity [3]

Core Viewpoint - Short-term bond funds, exemplified by ICBC Credit Suisse's "ICBC Enjoy Short-term Bond Fund," have gained attention from investors due to their stable returns and low volatility in the context of increasing demand for diversified asset allocation [1][2]. Group 1: Short-term Bond Fund Characteristics - Short-term bond funds invest in bonds with shorter durations, typically of higher credit ratings and good liquidity, making them suitable for risk-averse investors or those with short-term capital needs [1]. - As of June 9, 2025, the maximum drawdown of the Wind Short-term Pure Bond Fund Index was only -1.32%, with a recovery time of just 33 days, compared to -4.01% and 151 days for the medium to long-term pure bond index [1]. Group 2: Performance of ICBC Enjoy Short-term Bond Fund - The ICBC Enjoy Short-term Bond Fund has demonstrated strong performance across various time frames, outperforming its benchmark by 0.24% over the past six months and 0.35% over the past year, with net value growth of 1.18% and 2.35% respectively [2]. - Over longer periods, the fund's returns were 8.28% over three years, 14.54% over five years, and 19.88% since inception, consistently exceeding benchmark returns by 1.09%, 1.87%, and 2.78% respectively [2]. Group 3: Investment Strategy and Team Expertise - The fund's management team emphasizes risk control and has adjusted the portfolio by gradually reducing long-term interest rate bonds while managing duration exposure [2]. - ICBC Credit Suisse has built a comprehensive research and investment system, focusing on stable, value, and long-term investments, which has led to numerous awards for its fixed-income products since its establishment in 2005 [3][4].

Group 1 - The core viewpoint of the articles highlights the growing popularity of short-term bond funds among investors due to the continuous decline in risk-free interest rates, with the total market size reaching 1.17 trillion yuan by the end of 2024, an increase of over 120 billion yuan from the previous year [1] - Morgan Asset Management is set to launch the Morgan 30-Day Holding Period Bond Fund on May 26, 2024, aiming to capture short-term bond investment opportunities while employing a multi-strategy approach to pursue yield growth [1] - Historical performance data indicates that short-term bond funds have demonstrated stable returns and low volatility, with the Wind Short Bond Fund Index achieving an annualized return of 3.44% over the past 18 years [1] Group 2 - The Morgan 30-Day Holding Period Bond Fund will be managed by experienced fund manager Ren Xiang, who has 15 years of financial industry experience and a strong focus on credit analysis and risk control [2] - The fund has shown strong performance, with a cumulative return of 9.39% since its inception on November 30, 2021, outperforming its benchmark and the Wind Short Bond Fund Index [2] - The fund's maximum drawdowns in 2022, 2023, and 2024 were -0.22%, -0.08%, and -0.26%, respectively, all better than the maximum drawdowns of the Wind Short Bond Fund Index during the same periods [2]