Core Insights - The article discusses the performance rankings of public pure fixed-income products issued by wealth management companies, focusing on those with a maturity period of 2-3 years and established for over a year [4][7]. Group 1: Market Performance - The bond market in 2025 experienced fluctuations with a continuous decline in interest rates. Many banks began issuing perpetual bonds to replace preferred shares to save on interest costs [5]. - By December 31, 2025, banks issued a record 71 perpetual bonds totaling 821.8 billion, with most new bonds having coupon rates between 2.0% and 3.0% [5]. - In 2025, 77 secondary capital bonds were issued, amounting to 934.67 billion, with an average coupon rate of 2.52%, down from 2.61% in 2024 [5]. Group 2: Product Performance - As of January 15, 2026, there were 980 public pure fixed-income products with a maturity of 2-3 years, of which 621 had disclosed annualized returns. The average weighted annualized return was 3.08%, with 131 products exceeding 3.5% [7]. - Seven wealth management companies made it to the ranking, with Xingyin Wealth Management having three products listed, while Minsheng Wealth Management had two, and others like Huaxia, Huizhou, Nanyin, Nongyin, and Xinyin each had one product [7]. Group 3: Highlighted Products - Huaxia Wealth Management's "Fixed Income Debt Type Closed-End Wealth Management Product 264" topped the list with a weighted annualized return exceeding 5%, achieving a return of 3.85% since inception. The product's investments include cash, bank deposits, interbank certificates, bonds, non-standard assets, and public funds, with a leverage level of 130.61% as of Q3 2025 [8]. - Xingyin Wealth Management's "Fengli Yuedong Stable Enjoyment Closed-End 12 Fixed Income Product" ranked second with a weighted annualized return of 4.92%. This product primarily invests in cash, bank deposits, and bonds, with over 40% of its top ten assets being secondary capital bonds issued between 2021 and 2022. Notably, its recent one-month annualized return reached 17.11%, surpassing all other products in the ranking [8].

Core Insights - The report focuses on pure fixed-income products issued by wealth management companies, highlighting superior-performing products available for sale through distribution channels [1][7] - A ranking list is provided, showcasing annualized performance over the past month, three months, and six months, sorted by the three-month annualized yield to reflect multidimensional performance amid recent market fluctuations [1][7] Distribution Institutions - A total of 28 distribution institutions are involved, including major banks such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [1] Product Performance - The ranking includes various products with their respective annualized yields for different time frames: - For example, the "浦银理财天添鑫中短债92号理财产品" from 浦银理财 has yields of 5.51% for the past month, 8.95% for three months, and 5.35% for six months [4] - Another product, "信银理财安盈象固收稳利七天持有期," shows a yield of 9% for a seven-day investment period [5] Purchase Considerations - The list's assessment of the "available for sale" status of wealth management products is based on investment cycle projections, but actual availability may vary due to factors like sold-out quotas or differences in product listings shown to different customers by banks [1]

Overall Performance - As of December 18, 2025, there are 852 public pure fixed-income products with a duration of 3-6 months that have been established for over a year. Among the 511 products with complete net value disclosures, the average annualized return since inception is 2.83%, with 171 products exceeding 3% [4] - The ranking includes six financial companies, with Xingyin Wealth Management and Xinyin Wealth Management each having three products listed, while Guangda Wealth Management, Minsheng Wealth Management, Puyin Wealth Management, and Zhongyou Wealth Management each have one product listed. The top three products have annualized returns since inception exceeding 4% [4] Highlighted Product Analysis - The top product, "Half-Year Xin Shortest Holding Period 18A" from Puyin Wealth Management, has an annualized return since inception of 4.70%. It primarily invests in medium to short-term credit bonds and indirectly through asset management products, with 84.53% of its top ten holdings in trust plans [5] - The second and third products are "Anying Xiang Fixed Income Stable Six-Month Holding Period 29 B" and "Anying Xiang Fixed Income Stable Six-Month Holding Period 9 D" from Xinyin Wealth Management, with annualized returns of 4.33% and 4.08%, respectively. The second product has a high bond holding ratio of 53.53% and a small allocation to public funds at 8.44% [5] - The third product has a significant allocation to cash and bank deposits at 48.10% and does not include public funds. The management believes that the low supply in the bond market at year-end may boost demand, suggesting a focus on interest rate trading value and credit allocation [5]

Overall Performance - As of November 5, 2025, there are 1,126 public fixed-income products with a duration of 3-6 months, of which 831 have complete net value disclosures. The average net value growth rate over the past six months is 1.12%, with an average maximum drawdown of 0.09% [6] - Among the products, 484 achieved positive monthly returns, representing 58.24% of the total [6] - The average net value growth rate for RMB products is 1.11%, with only 51 products exceeding a growth rate of 2%, accounting for 6.23% [6] - Five financial companies are represented in the rankings, with three products achieving "0 drawdown" over the past six months [6] Product Analysis - The "An Ying Xiang Fixed Income Stable Six-Month Holding Period 36th Financial Product G Class" from Xin Yin Financial achieved an average net value growth rate of 3.97%, ranking second in the list. The product primarily invests in bank deposits, public funds, and bonds, with respective allocations of 47.02%, 31.14%, and 19.78% [7] - The "Fu Zhu Pure Bond 182-Day Holding Period 19th Financial Product A" from Min Sheng Financial ranks third, with an average net value growth rate of 3.72% and a maximum drawdown of 0. The product has a bond holding ratio of 73.32% [7]

Overall Performance - As of October 30, 2025, there are 3,905 public pure fixed-income products with a duration of 3 months or less from various wealth management companies, with 2,970 having complete net value disclosures. The average net value growth rate over the past six months is 0.87%, and the average maximum drawdown is 0.05%. A total of 2,211 products, accounting for 74.4%, achieved positive monthly returns, while 16 products reported negative returns [5][6]. - The current ranking includes five wealth management companies, with Xinyin Wealth Management and Minsheng Wealth Management each having three products listed, while Jianxin Wealth Management, Nanyin Wealth Management, Xingyin Wealth Management, and Zhongyou Wealth Management each have one product listed. Notably, several products in this ranking have demonstrated excellent drawdown control and stable return growth, with five products showing a maximum drawdown of 0% [5][6]. Highlighted Product Analysis - The Minsheng Wealth Management's "Fuzhu Pure Bond 60-Day Holding Period Product S" and "Fuzhu Pure Bond 91-Day Holding Period Product A" secured the top two spots in the ranking, with net value growth rates of 2.46% and 2.12%, respectively, both achieving a maximum drawdown of 0% during the six-month period [6]. - The asset allocation for these two products primarily consists of bonds and asset-backed securities, supplemented by bank deposits and other assets. Notably, the "Fuzhu Pure Bond 91-Day Holding Period Product A" also includes a small allocation to bond and money market funds, as well as interbank lending and repurchase agreements, with respective proportions of 1.66% and 0.59% [6]. - The Nanyin Wealth Management's "Dingrui Yuewen Tian Tian Ying Open-Ended Public RMB Wealth Management Product B" ranks fourth, with a net value growth rate of 2.05% and a maximum drawdown of 0%. According to the third-quarter report, the asset allocation for this product is mainly in bank deposits, trust plans, and asset management products, with trust plan investments exceeding 26% of the top ten holdings [6].

Overall Performance - As of September 4, 2025, there are a total of 5,211 public pure fixed-income products with a duration of 3 months or less, showing an average net value growth rate of 1.07%, which translates to an annualized yield of only 2.14% [2] - The overall operation of these products is relatively stable, with an average maximum drawdown of only 0.04% [2] - Among these products, 1,949 achieved positive monthly returns over the past six months, accounting for 37.4%, while 14 products reported negative returns [2] Highlighted Product Analysis - The ranking features products from three financial companies: Huaxia Wealth, Minsheng Wealth, and Ping An Wealth, with Minsheng Wealth having seven products listed, while Huaxia Wealth and Ping An Wealth have two and one products listed, respectively [3] - Huaxia Wealth's "Fixed Income Pure Bond Shortest Holding 7 Days No. 1 A" leads the list with a net value growth rate of 4.25% over the past six months. Since July 21, the product has shown significant growth, with a recent one-week net value increase of 0.06%, equivalent to an annualized rate of 3%, and a one-month growth rate of 0.67%, translating to an annualized rate of 7.84% [3] - Minsheng Wealth's listed products mainly include the Maozhu Pure Bond, Fuzhu Pure Bond, and Fuzhu Youbond series, with "Maozhu Pure Bond 3-Month Holding No. 1 A" and "Fuzhu Pure Bond 91-Day Holding No. 27 A" ranking second and third, respectively [3]

Overall Performance - As of August 21, 2025, there are a total of 1,370 public pure fixed-income products with a duration of 1-2 years, with an average net value growth rate of 2.84% over the past year and an average maximum drawdown of 0.27% [2] - Among these, 810 products achieved positive returns in each quarter over the past year, accounting for 59.1% of the total [3] Highlight Product Analysis - The top five products in terms of returns have an average net value growth rate exceeding 4% over the past year, with Hangyin Wealth's "Happiness 99 Incremental Fixed Income (Smart Pure Bond) 540-day Holding Period" ranking first at a growth rate of 4.63% [4] - The second-ranked product, Huaxia Wealth's "Fixed Income Debt Rights Closed-end 151 No. A," has achieved a net value growth rate of 8.35% since its inception on August 11, 2023, with a significant investment in non-standard assets, which accounted for 33.31% of its portfolio by the end of Q2 this year [4] - The third product, Nanyin Wealth's "Zhulian Bihuo Xinyi Stable Two-Year 36 Period C," has an annualized return of 3.81% year-to-date, with a notable allocation to non-standard assets, comprising 45.59% of its net asset value as of the end of Q1 2025 [4]