1. Graded funds are divided into parent funds and sub-funds, and sub-funds are divided into aggressive and steady types. Leverage is because the prudent sub-fund "lends" money to the enterprising sub-fund, which makes the available funds of the enterprising sub-fund greater than its own funds, so it can get more benefits, and of course the losses will be enlarged year-on-year; The general stable sub-fund is designed to be traded on the exchange, similar to the traditional closed-end fund;

2. Because it can be traded on the exchange, there will be a deviation between the market price (quoted by the exchange) and the net value of the fund (the market price is greater than the net value, which is a premium, and vice versa);

3. Most graded funds can only buy the parent fund, and then split it into two sub-funds according to the agreed proportion, which are traded at the current net price of the fund;

4. Customers can also choose to buy aggressive sub-funds of other customers in the market, and the transaction price is the market price at this time;

5. Suppose the share leverage of a graded fund is 2.0. If the user buys 1 copy 1.2 yuan in the market, the net value of the parent fund is 2 yuan, the net value of the prudent fund is 1 yuan, and the net value of the enterprising fund is 1 yuan. After a period of time, the forced conversion condition is triggered, and the enterprising child is at this time. After the conversion of 1:2, users get 1.33 copies of the parent fund.