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 the end of Q3 2025, there are a total of 7,325 public pure fixed-income RMB products from wealth management companies, with an average net value growth rate of 0.50% and an average maximum drawdown of 0.05% [5] - Only 310 pure fixed-income products achieved a net value growth rate exceeding 1% in Q3, accounting for less than 5% of the total, while 288 products reported negative returns, representing 3.9% [6] Product Analysis - The top product, "Fixed Income Pure Debt Short Holding 60 Days Wealth Management Product E," managed by Huaxia Wealth Management, achieved a net value growth rate of 4.26% in Q3, significantly outperforming others [7] - Huaxia Wealth Management has six products listed in the top rankings, with the second and third products, "Fixed Income Pure Debt Short Holding 180 Days Wealth Management Product G" and "Fixed Income Pure Debt Short Holding 30 Days Wealth Management Product J," showing growth rates of 2.77% and 2.76% respectively [7] - The top product was launched on March 11, 2025, and has shown stable growth since its inception, with a brief period of rapid growth from mid-July to mid-August 2025 [8] - The product "An Ying Xiang Fixed Income Stable Six-Month Holding Period No. 9 Wealth Management Product D" from Xinyin Wealth Management also reported a maximum drawdown of 0.00% [7]