Core Viewpoint - The article discusses the performance of stock strategy products in the context of increased market volatility due to tariffs, policy shifts, and geopolitical conflicts, emphasizing the importance of the Sharpe ratio as a measure of risk-adjusted returns [1][18]. Summary by Sections Overall Market Performance - Over the past three years, the average Sharpe ratio for stock strategy products was 0.69, with an average return of 64.17%. Among 1,723 products, 333 had a Sharpe ratio greater than 1, representing 19.33% of the total [1]. Top Products by Size Categories - **100 Billion and Above**: - The top product was "Junzhijian Junxin" managed by Zhang Youjun and Zhang Yichi, achieving a Sharpe ratio of *** and a return of ***% [4]. - Seven out of ten top products were subjective long strategies, with Junzhijian Investment holding half of the top spots [4]. - **50-100 Billion**: - "Pingfanghe Caiying Balanced No. 1 B Class" from Pingfanghe Investment topped this category with a return of ***% and a Sharpe ratio of *** [6][7]. - Six out of ten products were subjective long strategies, with two products each from Qianhai Bopu Asset and Kaishi Private Equity [6]. - **20-50 Billion**: - "Anzi Geek Multi-Strategy No. 1 A Class" managed by Li Jing was the top performer with a return of ***% and a Sharpe ratio of *** [10]. - Four subjective long and four quantitative long products made the top ten list [10]. - **10-20 Billion**: - "Jilu No. 11" from Jilu Asset achieved the highest return of ***% and a Sharpe ratio of *** [12]. - The top three products were all quantitative long strategies [12]. - **5-10 Billion**: - "Beiheng No. 2" managed by Zhou Yixing led this category with a return of ***% and a Sharpe ratio of *** [14]. - All top eight products were subjective long strategies [13]. - **0-5 Billion**: - The highest entry threshold was noted in this category, with "Saisuo Stable Profit No. 1" leading with a return of ***% and a Sharpe ratio of *** [15][16]. - Seven out of ten products were subjective long strategies [15].