Overall Performance - As of September 25, there are 255 public "fixed income + options" wealth management products in existence, with an average net value growth rate of 1.57% and an average maximum drawdown of 0.29% over the past three months [5] - Only one product, "Trend Guide Closed 005 Period" from Huihua Wealth Management, reported negative returns in the last three months, with a net value growth rate of -0.33% [5] - The top ten products by yield include four from Zhao Yin Wealth Management, two from Xing Yin Wealth Management, two from Jiao Yin Wealth Management, one from Gong Yin Wealth Management, and one from Ping An Wealth Management [5] Highlighted Products Analysis - The top product, "Heng Rui Shanghai and Shenzhen 300 Index Linked 6-Month Regular Open" from Gong Yin Wealth Management, has a performance benchmark of "3% (annualized) + 20% of the Shanghai and Shenzhen 300 index fluctuation during the period" [6] - This product maintains a neutral duration in fixed income assets and engages in bond trading while investing in high-grade credit bonds, focusing on medium to long-term value assets [6] - Ping An Wealth Management's "Xin Xiang Index Enhanced 1-Year Regular Open" is based on the CSI 500 index, with a performance benchmark of "20% of the CSI 500 index fluctuation + 2.50% (annualized)" [6] - The product primarily invests in high-grade bonds and structured tools related to the index, contributing positively to net value growth during the period [6]

Overall Performance - The average net value growth rate of public "fixed income + options" wealth management products over the past six months is 1.17% [5] - A total of 145 "fixed income + options" wealth management products are currently in existence, with only 6 products showing negative returns in the range of -0.13% to -0.05% [5] - The top three products by net value growth rate are "Zhaorui Global Asset Momentum Two-Year Open 10th A" at 3.59%, "Hengrui CSI 300 Index Linked 6-Month Regular Open" at 3.43%, and "Zhaorui Global Asset Momentum Fourteen-Month Open 2nd A" at 2.63% [5] Highlighted Product Analysis - The "Sunshine Qingrui Leap Enjoy 20th Period (10-Year U.S. Treasury Yield Automatic Trigger Strategy) D" product has a performance benchmark of 0.01% to 4.10% and employs an OBPI-based options combination insurance strategy [6] - This product is linked to the 10-year U.S. Treasury yield, with the initial price set on March 3, 2025, and a trigger price of the initial price minus 30 basis points [6] - The product has 10 observation days, and if the price on any observation day is less than or equal to the trigger price, it will terminate early; otherwise, the performance benchmark will be 0.01% to 0.15% [7] - As of September 5, 2025, the annualized yield of this product has remained above 3% across various time frames, with a one-month annualized yield of 3.29%, a three-month yield of 3.25%, and a yield since inception of 3.15% [7]

Core Insights - The report focuses on the performance of public "fixed income + options" wealth management products over the past six months, highlighting the average net value growth and the number of products with negative returns [5][6][7]. Overall Performance - As of August 21, 2025, there are 156 "fixed income + options" wealth management products currently in existence, with an average net value growth rate of 0.39% over the past six months [6]. - Notably, 56 products, accounting for over 35%, reported negative returns in the same period, with the highest negative return reaching -1.08% [7]. Highlighted Products Analysis - The top three products in terms of net value growth over the past six months are: 1. "Zhaoyin Global Asset Momentum Two-Year Open 10th A Fund" by Zhaoyin Wealth Management with a growth rate of 1.82% [8]. 2. "Zhaoyin Global Asset Momentum Fourteen-Month Open 10th A Fund" by Zhaoyin Wealth Management with a growth rate of 1.71% [8]. 3. "Hengrui CSI 300 Index Linked" by ICBC Wealth Management with a growth rate of 1.47% [8]. - The "Sunshine Qingrui Leap Enjoy 18th Phase (10-Year U.S. Treasury Yield Automatic Trigger Strategy) I" by Everbright Wealth Management has a performance benchmark of 0.06% to 4.20% and employs an OBPI-based options combination insurance strategy, primarily investing in fixed income assets [8]. - As of August 22, this product achieved an annualized return of 5.04% over the past month, with a longer-term annualized return of 2.59% since its inception on December 11, 2024 [8].