{"id":11227,"date":"2021-12-04T23:56:00","date_gmt":"2021-12-04T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=11227"},"modified":"2026-05-23T17:22:23","modified_gmt":"2026-05-23T09:22:23","slug":"%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/","title":{"rendered":"\u70ba\u4ec0\u9ebc\u5927\u90e8\u4efd\u7684\u6295\u8cc7\u4eba\u90fd\u61c9\u8a72\u6295\u8cc7\u5927\u76e4ETF"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E7%82%BA%E4%BB%80%E9%BA%BC%E5%AF%AB%E9%80%99%E7%AF%87%EF%BC%9F\" >\u70ba\u4ec0\u9ebc\u5beb\u9019\u7bc7\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E7%82%BA%E4%BB%80%E9%BA%BC%E6%88%91%E8%AA%8D%E7%82%BA%E3%80%8C%E5%A4%A7%E9%83%A8%E4%BB%BD%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%A9%B2%E6%8A%95%E8%B3%87%E5%A4%A7%E7%9B%A4ETF%E3%80%8D%EF%BC%9F\" >\u70ba\u4ec0\u9ebc\u6211\u8a8d\u70ba\u300c\u5927\u90e8\u4efd\u6295\u8cc7\u4eba\u61c9\u8a72\u6295\u8cc7\u5927\u76e4ETF\u300d\uff1f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%80%8B%E8%82%A1%E7%A5%A8%E5%9B%9E%E5%A0%B1%E9%80%A3%E5%9C%8B%E5%82%B5%E9%83%BD%E6%AF%94%E4%B8%8D%E4%B8%8A\" >\u500b\u80a1\u7968\u56de\u5831\u9023\u570b\u50b5\u90fd\u6bd4\u4e0d\u4e0a<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E6%89%8B%E7%BA%8C%E8%B2%BB\" >\u624b\u7e8c\u8cbb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%B9%B4%E8%B2%BB\" >\u5e74\u8cbb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E6%8A%95%E5%85%A5%E7%9A%84%E6%99%82%E9%96%93%E5%92%8C%E5%BF%83%E5%8A%9B\" >\u6295\u5165\u7684\u6642\u9593\u548c\u5fc3\u529b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E7%B8%BE%E6%95%88%E6%AF%94%E5%B0%88%E6%A5%AD%E6%8A%95%E8%B3%87%E4%BA%BA%E5%A5%BD\" >\u7e3e\u6548\u6bd4\u5c08\u696d\u6295\u8cc7\u4eba\u597d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%A4%A7%E9%83%A8%E4%BB%BD%E4%BA%BA%E7%84%A1%E6%B3%95%E6%89%BF%E5%8F%97%E5%A4%A7%E5%B9%85%E5%BA%A6%E7%9A%84%E5%80%8B%E8%82%A1%E6%B3%A2%E5%8B%95\" >\u5927\u90e8\u4efd\u4eba\u7121\u6cd5\u627f\u53d7\u5927\u5e45\u5ea6\u7684\u500b\u80a1\u6ce2\u52d5<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%A4%A7%E5%AE%B6%E9%83%BD%E5%A4%AA%E5%B0%8F%E7%9C%8BETF%E7%9A%84%E8%87%B4%E5%AF%8C%E5%A8%81%E5%8A%9B%E4%BA%86\" >\u5927\u5bb6\u90fd\u592a\u5c0f\u770bETF\u7684\u81f4\u5bcc\u5a01\u529b\u4e86<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E8%A9%B2%E8%B2%B7%E9%82%A3%E4%B8%80%E9%A1%9E%E7%9A%84ETF%EF%BC%9F\" >\u8a72\u8cb7\u90a3\u4e00\u985e\u7684ETF\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#ETF%E7%B6%93%E5%BE%97%E8%B5%B7%E6%99%82%E4%BB%A3%E7%9A%84%E8%80%83%E9%A9%97\" >ETF\u7d93\u5f97\u8d77\u6642\u4ee3\u7684\u8003\u9a57<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E4%B8%80%E4%BA%9B%E5%B0%8F%E5%8F%AE%E5%9A%80\" >\u4e00\u4e9b\u5c0f\u53ee\u5680<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E6%8C%81%E6%9C%89%E8%B2%BB%E7%94%A8%E5%A4%9A%E5%AF%A1%E5%84%AA%E5%85%88\" >\u6301\u6709\u8cbb\u7528\u591a\u5be1\u512a\u5148<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%8F%AA%E8%B3%BC%E8%B2%B7%E8%BF%BD%E8%B8%AA%E6%9C%AC%E5%9C%B0%E7%9B%AE%E6%A8%99%E7%9A%84ETF\" >\u53ea\u8cfc\u8cb7\u8ffd\u8e2a\u672c\u5730\u76ee\u6a19\u7684ETF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E8%A6%81%E9%95%B7%E6%9C%9F%E6%8C%81%E6%9C%89\" >\u8981\u9577\u671f\u6301\u6709<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%84%98%E5%8F%AF%E8%83%BD%E6%8A%95%E8%B3%87%E7%BE%8E%E5%9C%8B%E7%9A%84ETFs\" >\u5118\u53ef\u80fd\u6295\u8cc7\u7f8e\u570b\u7684ETFs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%8F%B0%E7%81%A3%E6%9C%AC%E5%9C%B0%E7%99%BC%E8%A1%8C%E7%9A%84ETF%E8%BF%BD%E8%B9%A4%E6%A8%99%E7%9A%84%E5%88%86%E6%95%A3%E5%BA%A6%E4%B8%8D%E8%B6%B3\" >\u53f0\u7063\u672c\u5730\u767c\u884c\u7684ETF\u8ffd\u8e64\u6a19\u7684\u5206\u6563\u5ea6\u4e0d\u8db3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%8F%B0%E7%81%A3%E6%9C%AC%E5%9C%B0%E7%99%BC%E8%A1%8C%E7%9A%84ETF%E6%8C%81%E6%9C%89%E6%88%90%E6%9C%AC%E5%A4%AA%E9%AB%98\" >\u53f0\u7063\u672c\u5730\u767c\u884c\u7684ETF\u6301\u6709\u6210\u672c\u592a\u9ad8<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E4%BA%A4%E6%98%93%E6%88%90%E6%9C%AC\" >\u4ea4\u6613\u6210\u672c<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E6%8A%95%E8%B3%87%E4%BA%BA%E5%A6%82%E4%BD%95%E9%81%B8%E6%93%87%EF%BC%9F\" >\u6295\u8cc7\u4eba\u5982\u4f55\u9078\u64c7\uff1f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%A4%A7%E5%B8%AB%E5%80%91%E7%9A%84%E7%9C%8B%E6%B3%95\" >\u5927\u5e2b\u5011\u7684\u770b\u6cd5<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E8%BC%83%E5%A5%BD%E7%9A%84%E5%81%9A%E6%B3%95\" >\u8f03\u597d\u7684\u505a\u6cd5<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E5%AF%A6%E9%9A%9B%E6%95%B8%E6%93%9A%E5%A6%82%E4%BD%95%EF%BC%9F\" >\u5be6\u969b\u6578\u64da\u5982\u4f55\uff1f<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E7%B5%90%E8%AA%9E\" >\u7d50\u8a9e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%e5%a4%a7%e9%83%a8%e4%bb%bd%e6%8a%95%e8%b3%87%e4%ba%ba%e6%87%89%e8%ae%93%e8%b2%b7%e5%a4%a7%e7%9b%a4etf\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%82%BA%E4%BB%80%E9%BA%BC%E5%AF%AB%E9%80%99%E7%AF%87%EF%BC%9F\"><\/span><strong>\u70ba\u4ec0\u9ebc\u5beb\u9019\u7bc7\uff1f<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u524d\u5929\u6709\u4f4d\u8b80\u8005\u670b\u53cb\u7559\u8a00\u60f3\u77e5\u9053\u300c\u5982\u679c\u4e0a\u73ed\u5f88\u5fd9\u53c8\u6709\u5c0f\u5b69\u5bb6\u5ead\u8981\u6253\u7406\uff0c\u64e0\u4e0d\u51fa\u6642\u9593\u6216\u8005\u7cbe\u795e\u4f86\u7814\u7a76\u6295\u8cc7\uff0c\u662f\u5426\u6295\u8cc7\u5927\u76e4\u6216\u7d0d\u65af\u9054\u514bETF\u662f\u6bd4\u8f03\u63a8\u85a6\u7684\u65b9\u6cd5\u5462\u300d<\/li>\n\n\n\n<li>\u6211\u81ea\u5df1\u4e5f\u767c\u73fe\u6211\u7684\u90e8\u843d\u683c\u88e1\u9762\uff0c\u8b80\u8005\u5011\u641c\u5c0b\u6392\u884c\u699c\u88e1\u9762\uff0cETF\u9019\u500b\u641c\u5c0b\u8a5e\u4e00\u76f4\u662f\u6392\u524d\u5e7e\u540d\u3002<\/li>\n\n\n\n<li>\u5341\u6708\u5e95\u6211\u7684\u300a<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">\u8d85\u7d1a\u6210\u9577\u80a1\u6295\u8cc7\u6cd5\u5247<\/a>\u300b\u65b0\u66f8\u5206\u4eab\u898b\u9762\u6703\u6642\uff0c\u8a31\u591a\u8b80\u8005\u4e5f\u60f3\u66b8\u89e3\u6211\u5c0dETF\u7684\u770b\u6cd5\uff0c\u5e0c\u671b\u6211\u80fd\u5c08\u6587\u591a\u8ac7\u4e00\u9edeETF\u3002<\/li>\n\n\n\n<li>\u5be6\u5728\u4e0d\u61c2\u70ba\u4f55\u6709\u4eba\u8981\u53bb\u8cb7\u80a1\u7968\u57fa\u91d1\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%82%BA%E4%BB%80%E9%BA%BC%E6%88%91%E8%AA%8D%E7%82%BA%E3%80%8C%E5%A4%A7%E9%83%A8%E4%BB%BD%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%A9%B2%E6%8A%95%E8%B3%87%E5%A4%A7%E7%9B%A4ETF%E3%80%8D%EF%BC%9F\"><\/span><strong>\u70ba\u4ec0\u9ebc\u6211\u8a8d\u70ba\u300c\u5927\u90e8\u4efd\u6295\u8cc7\u4eba\u61c9\u8a72\u6295\u8cc7\u5927\u76e4ETF\u300d\uff1f<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6211\u5728\u300a<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">\u8d85\u7d1a\u6210\u9577\u80a1\u6295\u8cc7\u6cd5\u5247<\/a>\u300b \u66f8\u88e1\u9762\u76841-5\u88e1\u9762\uff0c\u7b2c65\u9801\uff0c\u66fe\u7d93\u5728\u300c3\u9805\u689d\u4ef6\u7be9\u9078\u51fa\u53ef\u4fe1\u4efb\u7684\u6210\u529f\u6295\u8cc7\u4eba\u300d\u90a3\u4e00\u90e8\u4efd\uff0c\u63d0\u51fa\u904e\u300c\u5982\u679c\u6295\u8cc7\u4eba\u768410\u5e74\u7684\u5e73\u5747\u5e74\u5316\u5831\u916c\u7387\uff08IRR\uff09\u6bd4 10%\u4f4e\uff0c\u9084\u4e0d\u5982\u76f4\u63a5\u6295\u8cc7\u8ffd\u8e64\u5927\u76e4\u7684ETF\uff0c\u4e0d\u5fc5\u767d\u5fd9\u4e00\u5834\u3002\u300d\u539f\u56e0\u5462\uff1f<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%80%8B%E8%82%A1%E7%A5%A8%E5%9B%9E%E5%A0%B1%E9%80%A3%E5%9C%8B%E5%82%B5%E9%83%BD%E6%AF%94%E4%B8%8D%E4%B8%8A\"><\/span>\u500b\u80a1\u7968\u56de\u5831\u9023\u570b\u50b5\u90fd\u6bd4\u4e0d\u4e0a<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6839\u64da<a href=\"https:\/\/www.amazon.com\/Just-Keep-Buying-Proven-wealth\/dp\/0857199250\" target=\"_blank\" rel=\"noreferrer noopener\">\u300a\u6301\u7e8c\u8cb7\u9032\u300b\uff08Just Keep Buying\uff09<\/a>\u4e00\u66f8\u7684\u7d71\u8a08\uff1a1926\u5e74\u81f32016\u5e74\u671f\u9593\uff0c\u53ea\u67094\uff05\u7684\u500b\u80a1\u8868\u73fe\u512a\u65bc\u7f8e\u570b\u570b\u50b5\uff0c\u9664\u975e\u4f60\u6709\u628a\u63e1\u80fd\u627e\u51fa\u90a34\uff05\u7684\u516c\u53f8\u3002\u800c\u50b5\u5238\u662f\u5b89\u5168\uff0c\u4f46\u5831\u916c\u6975\u4f4e\uff0c\u80fd\u4fdd\u672c\u7684\u6295\u8cc7\u65b9\u5f0f\u3002\u80a1\u7968\u6295\u8cc7\u7684\u98a8\u96aa\u5f88\u5927\uff0c\u5982\u679c\u6295\u8cc7\u5831\u916c\u9023\u570b\u50b5\u90fd\u6bd4\u4e0d\u4e0a\uff0c\u90a3\u6839\u672c\u4e0d\u5fc5\u5192\u96aa\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%89%8B%E7%BA%8C%E8%B2%BB\"><\/span>\u624b\u7e8c\u8cbb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>ETF\u7684\u624b\u7e8c\u8cbb\u6bd4\u9664\u4e86\u6bd4\u4e00\u822c\u7684\u80a1\u7968\u57fa\u91d1\u4f4e\u5f88\u591a\u4e4b\u5916\uff0c\u5728\u53f0\u7063ETF\u7684\u4ea4\u6613\u624b\u7e8c\u8cbb\u6bd4\u4ea4\u6613\u4e00\u822c\u7684\u80a1\u7968\u8981\u4f4e\u975e\u5e38\u591a\uff081\/3\u5de6\u53f3\uff09\u3002\u5982\u679c\u662f\u7f8e\u570b\u7684\u7dda\u4e0a\u5238\u5546\uff0c\u5e7e\u4e4e\u90fd\u662f\u96f6\u5143\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B9%B4%E8%B2%BB\"><\/span>\u5e74\u8cbb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4e5f\u5c31\u662f\u6bcf\u5e74\u7684\u6301\u6709\u6210\u672c\uff1a\u8cb7\u9032\u4e4b\u5f8c\uff0cETF\u696d\u8005\u6bcf\u5e74\u9084\u6703\u5411\u6295\u8cc7\u4eba\u6536\u53d6\u4fdd\u7ba1\u8cbb\uff0c\u6295\u8cc7\u4eba\u5207\u83ab\u5c0f\u770b\u624b\u7e8c\u8cbb\u548c\u4fdd\u7ba1\u8cbb\uff0c\u9577\u671f\u4e0b\u4f86\u6703\u975e\u5e38\u5730\u53ef\u89c0\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E5%85%A5%E7%9A%84%E6%99%82%E9%96%93%E5%92%8C%E5%BF%83%E5%8A%9B\"><\/span>\u6295\u5165\u7684\u6642\u9593\u548c\u5fc3\u529b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5927\u591a\u6578\u7684\u4eba\u53ef\u80fd\u56e0\u70ba\u4e0a\u73ed\u3001\u7167\u9867\u5bb6\u4eba\u3001\u4e0a\u8ab2\u3001\u5148\u5929\u4e0a\u6642\u9593\u6709\u9650\u3001\u6c92\u6709\u6642\u9593\u548c\u5fc3\u529b\u9032\u884c\u6295\u8cc7\u7814\u7a76\u3002\u5c24\u5176\u4e3b\u52d5\u5f0f\u9078\u80a1\u7684\u6295\u8cc7\u65b9\u5f0f\uff0c\u5148\u6c7a\u689d\u4ef6\u662f\u5fc5\u9808\u9858\u610f\u6216\u6709\u8fa6\u6cd5\u6295\u5165\u5927\u91cf\u7684\u6642\u9593\u9032\u884c\u57fa\u672c\u7684\u7814\u7a76\u624d\u6709\u53ef\u80fd\u6210\u529f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B8%BE%E6%95%88%E6%AF%94%E5%B0%88%E6%A5%AD%E6%8A%95%E8%B3%87%E4%BA%BA%E5%A5%BD\"><\/span>\u7e3e\u6548\u6bd4\u5c08\u696d\u6295\u8cc7\u4eba\u597d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8ffd\u8e64\u5927\u76e4\u7684ETF\u8868\u73fe\u6bd4\u5c08\u696d\u6295\u8cc7\u4eba\u597d\u3002<\/p>\n\n\n\n<p>\u5e7e\u5bb6\u8457\u540d\u8ca1\u7d93\u6a5f\u69cb\u7684\u9577\u671f\u8abf\u67e5\u7d50\u679c\u5982\u4e0b\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u5305\u62ec<span style=\"font-size: revert;\">\u7f8e\u9280\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aBAC\uff09\u5728\u5167\u7684\u8a31\u591a\u6a5f\u69cb\u4e00\u81f4\u7684\u9577\u671f\u7814\u7a76\u6307\u51fa\uff0c\u53ea\u670925%\u7684\u80a1\u7968\u57fa\u91d1\u7d93\u7406\u4eba\u7684\u6295\u8cc7\u7e3e\u6548\u9ad8\u65bc\u5927\u76e4\u3002<\/span><\/li>\n\n\n\n<li>\u6668\u661f\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aMORN\uff09\u65d7\u4e0b\u7684Morningstar Direct\u57282021\u5e74\u7684\u7d71\u8a08\u6578\u64da\uff0c\u4e3b\u52d5\u5f0f\u7f8e\u80a1\u57fa\u91d1\u7e3e\u6548\u903e85%\u843d\u5f8c\u5927\u76e4\u3002 <\/li>\n\n\n\n<li>\u6a19\u666e\u9053\u74ca\u6307\u6578\u516c\u53f8<span style=\"font-size: revert;\"> ( \u7f8e\u80a1\u4ee3\u78bc\uff1aSPGI)<\/span> \u7684\u6700\u65b0\u5831\u544a\u986f\u2f70\uff0c2021\u5e74\u8d85\u904e79%\u7684\u4e3b\u52d5\u578b\u5171\u540c\u57fa\u2fa6\u7d93\u7406\u2f08\u7684\u64cd\u76e4\u8868\u73fe\uff0c\u4e0d\u5982\u6a19\u6e96\u666e\u723e500\u6307\u6578\u548c\u9053\u74ca\u6307\u6578\u3002<\/li>\n\n\n\n<li>\u8ffd\u8e64\u4e3b\u52d5\u578b\u57fa\u91d1\u7e3e\u6548\u7684S&amp;P Indices Versus Active\uff08SPIVA\uff09\u57282023\u5e74\u7684\u6578\u64da\u986f\u793a79%\u7684\u57fa\u91d1\u7d93\u7406\u57282022\u5e74\u7684\u64cd\u76e4\u7e3e\u6548\u843d\u5f8c\u7f8e\u80a1\u5927\u76e4\uff0c\u820710\u5e74\u524d\u768442%\u76f8\u6bd4\uff0c\u9019\u500b\u6bd4\u4f8b\u5927\u5e45\u5347\u9ad8\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%A7%E9%83%A8%E4%BB%BD%E4%BA%BA%E7%84%A1%E6%B3%95%E6%89%BF%E5%8F%97%E5%A4%A7%E5%B9%85%E5%BA%A6%E7%9A%84%E5%80%8B%E8%82%A1%E6%B3%A2%E5%8B%95\"><\/span>\u5927\u90e8\u4efd\u4eba\u7121\u6cd5\u627f\u53d7\u5927\u5e45\u5ea6\u7684\u500b\u80a1\u6ce2\u52d5<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u50f9\u4e0a\u6f32\u8cfa\u9322\u6642\uff0c\u6c92\u6709\u4eba\u5728\u610f\u80a1\u50f9\u6ce2\u52d5\u592a\u904e\u5287\u70c8\u3002\u4f46\u662f\u53ea\u8981\u80a1\u50f9\u4e0b\u8dcc\uff0c\u5927\u90e8\u4efd\u7684\u6295\u8cc7\u4eba\u6703\u7acb\u5373\u6050\u614c\u6027\u5730\u51fa\u812b\uff08\u80a1\u5e02\u6709\u500b\u7279\u6027\uff0c\u7de9\u6f32\u6025\u8dcc\uff09\uff0c\u7d50\u679c\u5c31\u662f\u5f88\u96e3\u7372\u5229\u3002\u8ffd\u8e2a\u5927\u76e4\u7684ETF\u7684\u6ce2\u52d5\u6027\uff0c\u5247\u9060\u4f4e\u65bc\u500b\u5225\u7684\u80a1\u50f9\u7684\u6ce2\u52d5\u6027\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%A7%E5%AE%B6%E9%83%BD%E5%A4%AA%E5%B0%8F%E7%9C%8BETF%E7%9A%84%E8%87%B4%E5%AF%8C%E5%A8%81%E5%8A%9B%E4%BA%86\"><\/span><strong>\u5927\u5bb6\u90fd\u592a\u5c0f\u770bETF\u7684\u81f4\u5bcc\u5a01\u529b\u4e86<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>ETF\u6295\u8cc7\u4e0d\u5fc5\u770b\u76e4\uff0c\u4e0d\u5fc5\u7ba1\u6642\u4ee3\u8da8\u52e2\uff0c\u4e0d\u7528\u770b\u7522\u696d\u6f6e\u6d41\uff0c\u662f\u4e00\u7a2e\u7121\u8166\u7684\u6295\u8cc7\u6cd5\uff0c\u9019\u5927\u5bb6\u90fd\u77e5\u9053\u3002\u4f46\u6211\u8981\u518d\u5ea6\u5f37\u8abf\uff0c\u8a31\u591a\u4eba\u8a8d\u70baETF\u6f32\u5e45\u4e0d\u5927\uff0c\u8cfa\u4e0d\u4e86\u9322\u3002\u6709\u9019\u7a2e\u601d\u7dad\u7684\u4eba\uff0c\u975e\u5e38\u53ef\u6015\u3002\u9664\u975e\u60a8\u6709\u80fd\u529b\u9577\u671f\u9078\u5c0d\u98c6\u80a1\uff0c\u6301\u7e8c\u6253\u6557\u5927\u76e4\uff0c\u4e0d\u7136\u60a8\u6295\u8cc7\u80a1\u5e02\u662f\u6c38\u9060\u8cfa\u4e0d\u4e86\u9322\u7684\u3002\u70ba\u4ec0\u9ebc\u5462\uff1f\u6b77\u53f2\u8b49\u660e\u53ea\u6709\u5c11\u6578\u7684\u6295\u8cc7\u4eba\u9069\u5408\u4e3b\u52d5\u9078\u80a1\uff0c\u9019\u4e9b\u4e3b\u52d5\u9078\u80a1\u8005\u4e2d\u53c8\u53ef\u4ee5\u6301\u7e8c\u6253\u6557\u5927\u76e4\u8005\u5247\u53c8\u66f4\u5c11\u4e86\u3002\u66f4\u7cbe\u78ba\u7684\u8aaa\uff0c\u53ea\u6709\u6975\u5176\u5c11\u6578\uff0c\u5f88\u7f55\u898b\u7684\u4eba\u53ef\u4ee5\u6bcf\u5e74\u6253\u6557\u5927\u76e4\uff0c\u56e0\u6b64\u6a5f\u7387\u6709\u591a\u5927\uff0c\u53ef\u60f3\u800c\u77e5\u4e86\u3002\u6240\u4ee5\u57f7\u8457\u65bc\u4e3b\u52d5\u9078\u80a1\u81f4\u5bcc\uff0c\u6c92\u6709\u8010\u5fc3\u6162\u6162\u8b8a\u5bcc\u6709\u9322\u7684\u4eba\uff0c\u6216\u662f\u5984\u60f3\u6316\u7a7a\u5fc3\u601d\u627e\u5c0b\u6bcf\u5e74\u4e0a\u6f32100%\u621650%\uff0c\u5c0dETF\u4e0d\u5c51\u4e00\u9867\u7684\u4eba\uff0c\u90fd\u4e0d\u53ef\u80fd\u5728\u80a1\u5e02\u8cfa\u5230\u9322\u3002<\/p>\n\n\n\n<p>\u4e00\u5982\u6211\u5728\u6211\u7684\u300a<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">\u8d85\u7d1a\u6210\u9577\u80a1\u6295\u8cc7\u6cd5\u5247<\/a>\u300b \u66f8\u88e1\u9762\u76841-1\u88e1\u9762\uff0c\u7b2c17\u9801\u7684\u8868\u683c\u6240\u5217\u7684\u904e\u53bb25\u5e74\u4ee3\u8868\u7f8e\u80a1\u5927\u76e4\u7684\u7f8e\u80a1\u6a19\u666e500\u6307\u6578\u7684\u5e74\u5316\u5831\u916c\u7387\uff08IRR\uff09\u662f7.71%\uff08\u4e0d\u5305\u62ec\u80a1\u5229\uff09\uff1b \u8acb\u60a8\u53c3\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u6587\u7ae0<a style=\"font-size: revert;\" href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/homework\/%e5%a6%82%e4%bd%95%e8%a8%88%e7%ae%97%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%ef%bc%9f\/\">\u300a\u6295\u8cc7\u4eba\u8a72\u91cd\u8996\u7684\u662f\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387\uff08IRR\uff09\u300b<\/a><span style=\"font-size: revert;\">\u3002\u5927\u5bb6\u5225\u5c0f\u770b\u9019\u500b\u6578\u5b57\uff0c\u4f9d72\u6cd5\u5247\uff0c72\u9664\u4ee57.71\u70ba9.34\uff0c\u9019\u8868\u793a9.34\u5e74\u60a8\u7684\u6295\u8cc7\u8cc7\u7522\u53ef\u4ee5\u52a0\u500d\uff1b\u82e5\u8a08\u5165\u80a1\u5229\u5247\u7e3e\u6548\u6703\u66f4\u597d<\/span>\u90549.47%<span style=\"font-size: revert;\">\u3002 \u800c\u4e147.71%\u7684\u6295\u8cc7\u5e74\u5316\u5831\u916c\u6253\u6557\u901a\u81a8\u4e0d\u6703\u6709\u554f\u984c\uff0c\u9664\u975e\u60a8\u904b\u6c23\u5f88\u5dee\u78b0\u52301970\u5e74\u4ee3\u90a3\u5e7e\u5e74\u7f55\u898b\u7684\u4e16\u7d00\u5927\u901a\u81a8\uff0c\u4f46\u9019\u7a2e\u60c5\u5f62\u662f\u6574\u500b\u4e16\u7d00\u6240\u50c5\u898b\u7684\u60c5\u5f62\uff0c\u6a5f\u6703\u4e0d\u662f\u5e38\u6709\uff0c\u8a73\u60c5\u8acb\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u6587\u7ae0 \u300a<\/span><a style=\"font-size: revert;\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/29\/%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e5%85%a9%e5%a4%a7%e6%ae%ba%e6%89%8b%e9%80%9a%e8%86%a8%e5%92%8c%e5%88%a9%e7%8e%87\/\">\u6295\u8cc7\u4eba\u7684\u4e09\u5927\u6bba\u624b\uff1a\u901a\u81a8\uff0c\u5229\u7387\uff0c\u548c\u7a05\u8ce6<\/a><span style=\"font-size: revert;\">\u300b\u3002 <\/span><\/p>\n\n\n\n<p><strong>\u8a3b<\/strong>\uff1a\u60a8\u53ef\u4ee5\u5229\u7528<span style=\"font-size: revert;\">\u300a<\/span><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/11\/%e6%a8%99%e6%99%ae500%e6%8c%87%e6%95%b8%e5%b9%b4%e5%8c%96%e5%a0%b1%e9%85%ac%e7%8e%87%e6%9f%a5%e8%a9%a2%e5%99%a8\/\">\u6a19\u666e500\u6307\u6578\u5e74\u5316\u5831\u916c\u7387\u67e5\u8a62\u5668<\/a><span style=\"font-size: revert;\">\u300b<\/span>\uff0c\u7acb\u5373\u67e5\u8a62\u4efb\u4e00\u500b\u5e74\u5ea6\u7684\u6a19\u666e500\u6307\u6578\u5831\u916c\uff0c\u6216\u662f\u4efb\u5169\u5e74\u9593\u7684\u6a19\u666e500\u6307\u6578\u5e74\u5316\u5831\u916c\u7387\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%A9%B2%E8%B2%B7%E9%82%A3%E4%B8%80%E9%A1%9E%E7%9A%84ETF%EF%BC%9F\"><\/span><strong>\u8a72\u8cb7\u90a3\u4e00\u985e\u7684ETF\uff1f<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6211\u8a18\u5f97\u5728\u6211\u65b0\u66f8\u767c\u8868\u6703\u7684\u73fe\u5834\uff0c\u6709\u8b80\u8005\u66fe\u554f\u6211\u5c0d\u6295\u8cc7\u975e\u5927\u76e4\u7684ETF\u7684\u770b\u6cd5\u3002\u6211\u500b\u4eba\u8a8d\u70ba\u5982\u679c\u6295\u8cc7\u4eba\u9078\u64c7\u6295\u8cc7ETF\uff0c\u5c31\u61c9\u8a72\u53ea\u9078\u64c7\u8ffd\u8e64\u80a1\u5e02\u5927\u76e4\u7684ETF\uff1b\u4e0d\u8981\u6295\u8cc7\u67d0\u500b\u7279\u5b9a\u9818\u57df\u3001\u884c\u696d\u3001\u5730\u7406\u5340\u57df\u7684ETF\u3002\u6211\u6240\u6301\u7684\u7406\u7531\uff0c\u5f88\u7c21\u55ae\uff1b\u6295\u8cc7\u975e\u5927\u76e4\u7684ETF\u6703\u55aa\u5931\u6295\u8cc7ETF\u7684\u597d\u8655\u548c\u512a\u9ede\uff0c\u9019\u7a2e\u505a\u6cd5\u548c\u53bb\u6295\u8cc7\u500b\u80a1\u5176\u5be6\u662f\u76f8\u540c\u7684\u3002\u800c\u4e14\u975e\u5927\u76e4\u7684ETF\u7684\u6210\u4efd\u80a1\u53c3\u5dee\u4e0d\u9f4a\uff0c\u6feb\u7afd\u5145\u6578\u7684\u60c5\u5f62\u5f88\u5e38\u898b\uff0c\u60a8\u5fc5\u9808\u88ab\u8feb\u8cb7\u5165\u4e00\u4e9b\u8ca1\u5bcc\u7ba1\u7406\u696d\u8005\u57fa\u65bc\u5404\u7a2e\u7406\u7531\uff08\u8aaa\u51fa\u4f86\u6703\u5687\u6b7b\u4f60\uff09\u786c\u52a0\u9032\u6210\u4efd\u80a1\u4e2d\u7684\u5dee\u52c1\u6210\u4efd\u80a1\u3002 <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ETF%E7%B6%93%E5%BE%97%E8%B5%B7%E6%99%82%E4%BB%A3%E7%9A%84%E8%80%83%E9%A9%97\"><\/span><strong>ETF\u7d93\u5f97\u8d77\u6642\u4ee3\u7684\u8003\u9a57<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-size: revert;\">\u7f8e\u570b\u9280\u884c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aBAC\uff09\u9577\u671f\u7684\u8abf\u67e5\u6307\u51fa\uff0c75%\u7684\u80a1\u7968\u57fa\u91d1\u7d93\u7406\u7684\u6295\u5831\u7387\u6bd4\u5e02\u5834\u5927\u76e4\u9084\u5dee\u3002<a href=\"https:\/\/www.barrons.com\/articles\/etfs-set-a-record-as-net-inflow-of-cash-exceeds-500-billion-51609970699\" target=\"_blank\" rel=\"noreferrer noopener\">2020\u5e74\u7f8e\u570b\u7d71\u8a08\u5171\u540c\u57fa\u2fa6\u8cc7\u7522\u7e3d\u8a0817.6\u5146\u7f8e\u5143\uff0cETF\u5247\u70ba5.2<span style=\"font-size: revert;\">\u5146\u7f8e\u5143<\/span><\/a>\u3002\u8ffd\u8e64\u5e02\u5834\u5927\u76e4\u7684ETF\u666e\u904d\u7372\u6295\u8cc7\u4eba\u63a5\u53d7\u30022020\u5e74\u53f0\u7063ETF\u898f\u6a21\u7a81\u7834\u65b0\u53f0\u5e631.7\u5146\u5143\uff0c\u8ffd\u8e64\u53f0\u80a1\u5927\u76e4\u7684\u5143\u59270050\u670919\u842c\u53d7\u76ca\u4eba\uff0c\u5143\u5927\u9ad8\u80a1\u606f0056\u670935\u842c\u53d7\u76ca\u4eba\u30022020\u5e74\u7f8e\u570b\u7d71\u8a08ETF\u8cc7\u7522\u7e3d\u8a085.2\u5146\u7f8e\u5143\uff0c\u8da8\u52e2\u6f38\u589e\u30022020\u5e74\u5168\u7403ETF\u7e3d\u8cc7\u7522\u898f\u6a21\u5347\u62b5\u6709\u53f2\u4ee5\u4f86\u6700\u9ad8\u76848\u5146\u7f8e\u5143\u3002<\/span> <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%80%E4%BA%9B%E5%B0%8F%E5%8F%AE%E5%9A%80\"><\/span><strong>\u4e00\u4e9b\u5c0f\u53ee\u5680<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8C%81%E6%9C%89%E8%B2%BB%E7%94%A8%E5%A4%9A%E5%AF%A1%E5%84%AA%E5%85%88\"><\/span>\u6301\u6709\u8cbb\u7528\u591a\u5be1\u512a\u5148<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u65e2\u7136\u6a19\u7684\u8ffd\u8e64\u7269\u662f\u4e00\u6a23\uff0c\u624b\u7e8c\u8cbb\u512a\u5148\uff0cETF\u7684\u767c\u884c\u5546\u4e00\u9ede\u90fd\u4e0d\u91cd\u8981\uff0c\u4e0d\u8981\u8ff7\u4fe1\u767c\u884c\u5546\u7684\u540d\u6c23\uff0c\u56e0\u70ba\u9019\u6839\u672c\u90fd\u4e0d\u91cd\u8981\u3002\u8aaa\u5be6\u5728\u7684\uff0c\u8ffd\u8e64\u76f8\u540c\u6a19\u7684ETF\u4e4b\u9593\u7684\u5dee\u5225\u53ea\u5728\u624b\u7e8c\u8cbb\u3002\u800c\u4e14\u56e0\u70ba\u9577\u671f\u6295\u8cc7\u624d\u80fd\u81f4\u5bcc\uff0c\u6295\u8cc7\u4eba\u901a\u5e38\u6703\u6301\u6709\u4e00\u6bb5\u4e0d\u7b97\u77ed\u7684\u6642\u9593\uff0c\u9019\u6703\u662f\u6295\u8cc7\u4eba\u7684\u4e3b\u8981\u6210\u672c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%AA%E8%B3%BC%E8%B2%B7%E8%BF%BD%E8%B8%AA%E6%9C%AC%E5%9C%B0%E7%9B%AE%E6%A8%99%E7%9A%84ETF\"><\/span>\u53ea\u8cfc\u8cb7\u8ffd\u8e2a\u672c\u5730\u76ee\u6a19\u7684ETF<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8209\u4f8b\u800c\u8a00\uff0c\u53f0\u7063\u672c\u5730\u696d\u8005\u3001\u9999\u6e2f\u696d\u8005\u3001\u7f8e\u570b\u7576\u5730\u696d\u8005\u90fd\u6703\u6709\u4e00\u5806\u6a5f\u69cb\u767c\u884c\u8ffd\u8e64\u6a19\u666e500\u7684ETF\u3002\u4e0d\u8ad6\u4efb\u4f55\u7406\u7531\uff0c\u5982\u679c\u60a8\u8981\u6295\u8cc7\u8ffd\u8e64\u6a19\u666e500\u7684ETF\u7684\u8a71\uff0c\u8acb\u60a8\u9078\u64c7\u7f8e\u570b\u7576\u5730\u696d\u8005\u6240\u767c\u884c\u7684ETF\uff0c\u800c\u4e14\u8981\u5728\u7f8e\u570b\u7684\u5238\u5546\u8cfc\u8cb7\u3002\u540c\u7406\uff0c\u4e0d\u8981\u5728\u53f0\u7063\u6295\u8cc7\u8ffd\u8e64\u9999\u6e2f\u6046\u751f\u6307\u6578\u7684ETF\uff0c\u8cb7\u9999\u6e2f\u696d\u8005\u767c\u884c\u8ffd\u8e64\u9999\u6e2f\u6046\u751f\u6307\u6578\u7684ETF\u7576\u7136\u6bd4\u8f03\u597d\u3002\u539f\u56e0\u9664\u4e86\u6301\u6709\u6210\u672c\u4e00\u5b9a\u6bd4\u8f03\u4f4e\u5916\uff08\u800c\u4e14\u662f\u4f4e\u975e\u5e38\u591a\uff0c\u9019\u9ede\u5f88\u91cd\u8981\uff0c\u6211\u8981\u4e0d\u53ad\u5176\u7169\u5730\u63d0\u9192\u5927\u5bb6\uff09\uff0c\u7576\u5730\u696d\u8005\u8ffd\u8e64\u7576\u7684\u6295\u8cc7\u6a19\u7684\u6703\u6bd4\u8f03\u6709\u6548\u7387\uff0c\u53cd\u61c9\u6703\u6bd4\u8f03\u9748\u654f\u548c\u771f\u5be6\uff1b\u6bd4\u5982\u8ffd\u8e64\u4ee3\u8868\u53f0\u80a1\u5927\u76e4\u7684\u6700\u8457\u540d\u7684\u5143\u5927\u53f0\u70630050 ETF\u88e1\u9762\uff0c\u53f0\u7a4d\u96fb\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aTSM\uff09\u4f54\u6bd4\u7adf\u8d85\u904e40%\uff0c\u4f46\u662f\u53f0\u7a4d\u96fb\u4f54\u53f0\u80a1\u5be6\u969b\u5927\u76e4\u7684\u6bd4\u4f8b\u7d0430%\u3002\u5982\u679c\u60a8\u5728\u570b\u5916\u8cb7\u8ffd\u8e64\u4ee3\u8868\u53f0\u80a1\u5927\u76e4\u7684ETF\u7684\u8a71\uff0c\u6bd4\u4f8b\u6709\u53ef\u80fd\u6703\u66f4\u70ba\u5931\u8861\uff1b\u56e0\u70ba0050 ETF\u6210\u4efd\u80a1\u5c11\uff0c\u570b\u5916\u5927\u578b\u6a5f\u69cb\u6295\u8cc7\u4eba\u9032\u51fa\u52d5\u4f5c\u8f03\u6162\u3002\u800c\u4e14\u5225\u5fd8\u4e86\uff0c\u9032\u884c\u570b\u5916\u6295\u8cc7\uff0c\u9084\u6709\u532f\u7387\u548c\u6240\u5f97\u7a05\u7b49\u7a2e\u7a2e\u56f0\u96e3\u7684\u554f\u984c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%A6%81%E9%95%B7%E6%9C%9F%E6%8C%81%E6%9C%89\"><\/span>\u8981\u9577\u671f\u6301\u6709<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u548c\u6295\u8cc7\u500b\u80a1\u7684\u539f\u7406\u4e00\u6a23\uff0c\u6211\u5011\u7121\u6cd5\u4fdd\u8b49\u80a1\u5e02\u6bcf\u4e00\u5e74\u90fd\u80fd\u6709\u5f88\u597d\u7684\u56de\u5831\uff0c\u4f46\u9577\u671f\u800c\u8a00\uff0c\u80a1\u5e02\u662f\u7a33\u5b9a\u5411\u4e0a\u7684\uff1b\u6295\u8cc7\u4eba\u61c9\u8a72\u91cd\u8996\u7684\u662f\u5e73\u5747\u5e74\u5316\u5831\u916c\u7387\uff08IRR\uff09\uff0c\u4e5f\u5c31\u662f\u5e74\u5316\u5831\u916c\u7387\u3002\u5728\u80a1\u5e02\u5d29\u76e4\u6642\uff0c\u5c24\u5176\u662f\u8cb7\u5165\u8ffd\u8e64\u5927\u76e4\u7684ETF\u7684\u6700\u597d\u6642\u6a5f\uff0c\u56e0\u70ba\u80a1\u5e02\u7d42\u7a76\u6703\u53cd\u5f48\uff0c\u9664\u975e\u60a8\u53ea\u60f3\u9032\u884c\u77ed\u671f\u7684\u6295\u8cc7\uff0c\u90a3\u60a8\u4e0d\u50c5\u4e0d\u9069\u5408\u6295\u8cc7ETF\uff0c\u60a8\u66f4\u61c9\u8a72\u9060\u96e2\u80a1\u5e02\uff0c\u6539\u4ee5\u5176\u5b83\u7684\u65b9\u5f0f\u7406\u8ca1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%84%98%E5%8F%AF%E8%83%BD%E6%8A%95%E8%B3%87%E7%BE%8E%E5%9C%8B%E7%9A%84ETFs\"><\/span><strong>\u5118\u53ef\u80fd\u6295\u8cc7\u7f8e\u570b\u7684ETFs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u9664\u975e\u60a8\u4e0d\u5728\u610f\u6295\u8cc7\u7e3e\u6548\uff0c\u6216\u6709\u5176\u5b83\u7684\u7279\u5225\u7406\u7531\uff0c\u6301\u5e73\u800c\u8ad6\uff0c\u4ee5\u6295\u8cc7\u4eba\u7684\u773c\u5149\u4f86\u8aaa\uff0c\u6295\u8cc7\u7f8e\u570b\u767c\u884c\u7684ETF\u6703\u6bd4\u6295\u8cc7\u53f0\u7063\u672c\u5730\u6240\u767c\u884c\u7684ETF\u597d\uff0c\u7406\u7531\u5982\u4e0b\uff1a<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%B0%E7%81%A3%E6%9C%AC%E5%9C%B0%E7%99%BC%E8%A1%8C%E7%9A%84ETF%E8%BF%BD%E8%B9%A4%E6%A8%99%E7%9A%84%E5%88%86%E6%95%A3%E5%BA%A6%E4%B8%8D%E8%B6%B3\"><\/span>\u53f0\u7063\u672c\u5730\u767c\u884c\u7684ETF\u8ffd\u8e64\u6a19\u7684\u5206\u6563\u5ea6\u4e0d\u8db3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4ee5\u53f0\u7063\u6700\u53d7\u6b61\u8fce\uff0c\u4ee3\u8868\u53f0\u80a1\u5927\u76e4\u7684\u5143\u59270050 ETF\u4f86\u8aaa\uff0c\u8ffd\u8e64\u7684\u80a1\u7968\u53ea\u670950\u6a94\u3002\u800c\u5728\u7f8e\u570b\u6700\u8457\u540d\uff0c\u8ffd\u8e64\u4ee3\u8868\u7f8e\u80a1\u5927\u76e4\u6a19\u666e500\u7684SPY\u6216VOO\u548cIVV\uff0c\u6db5\u84cb\u7684\u80a1\u7968\u5247\u6709500\u6a94\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%B0%E7%81%A3%E6%9C%AC%E5%9C%B0%E7%99%BC%E8%A1%8C%E7%9A%84ETF%E6%8C%81%E6%9C%89%E6%88%90%E6%9C%AC%E5%A4%AA%E9%AB%98\"><\/span>\u53f0\u7063\u672c\u5730\u767c\u884c\u7684ETF\u6301\u6709\u6210\u672c\u592a\u9ad8<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5373\u4f7f\u5404\u5225\u90fd\u6295\u8cc7\u8ffd\u8e64\u672c\u5730\u6a19\u7684\u7684ETF\uff1b\u76f8\u8f03\u65bc\u7f8e\u570b\u7684ETF\uff0c\u53f0\u7063\u7684ETF\u6301\u6709\u7684\u7e3d\u6210\u672c\u9084\u662f\u76f8\u7576\u5730\u9ad8\u3002\u5143\u59270050\u7684\u8cbb\u7528\u7387\u70ba0.42%\uff1b\u800c\u7f8e\u570b\u7684SPY\u8cbb\u7528\u7387\u70ba0.094%\uff0c\u800cVOO\u548cIVV\u66f4\u4f4e\u81f30.02%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BA%A4%E6%98%93%E6%88%90%E6%9C%AC\"><\/span>\u4ea4\u6613\u6210\u672c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u53f0\u7063\u672c\u5730\u767c\u884c\u7684ETF\u7684\u8cb7\u8ce3\u5404\u9700\u8981\u4ed8\u7d040.14%\u7684\u4ea4\u6613\u624b\u7e8c\u8cbb\u3002\u800c\u5982\u679c\u60a8\u4f7f\u7528\u7f8e\u570b\u7684\u7dda\u4e0a\u5238\u5546\uff0c\u4e0d\u53ea\u80a1\u7968\u4ea4\u6613\u8cb7\u8ce3\u624b\u7e8c\u8cbb\u5927\u90e8\u4efd\u5ee0\u5546\u90fd\u5df2\u7d93\u662f\u96f6\u4e86\uff0c\u7d55\u5927\u90e8\u4efd\u7684ETF\u5247\u65e9\u4e00\u6b65\u5df2\u7d93\u662f\u96f6\u624b\u7e8c\u8cbb\u4e86\u3002 <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E4%BA%BA%E5%A6%82%E4%BD%95%E9%81%B8%E6%93%87%EF%BC%9F\"><\/span>\u6295\u8cc7\u4eba\u5982\u4f55\u9078\u64c7\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%A7%E5%B8%AB%E5%80%91%E7%9A%84%E7%9C%8B%E6%B3%95\"><\/span><strong>\u5927\u5e2b\u5011\u7684\u770b\u6cd5<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5df4\u83f2\u7279\u66fe\u57282013\u5e74\u6ce2\u514b\u590f\u7684\u80a1\u6771\u4fe1\u4e2d\u8868\u793a\u904e\u300c\u6211\u7559\u7d66\u592a\u592a\u7684\u907a\u7522\u4fe1\u8a17\u57fa\u91d1\uff0c\u5c31\u662f\u6295\u8cc7\u572810\uff05\u7684\u77ed\u671f\u653f\u5e9c\u50b5\uff0c\u4ee5\u53ca90\uff05\u7684\u6a19\u666e500\u4f4e\u6210\u672c\u6307\u6578\u57fa\u91d1\u3002\u300d\u800c\u4e14\u5df4\u83f2\u7279\u5e7e\u4e4e\u6bcf\u5e74\u7684\u80a1\u6771\u6703\u4e0a\uff0c\u90fd\u6703\u4e00\u518d\u91cd\u8986\u9019\u7a2e\u770b\u6cd5\u3002\u8457\u6709<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/\">\u300a\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09\u300b<\/a>\u4e00\u66f8\u7684\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08\u9019\u500b\u4eba\u662fETF\u548c\u8ca1\u52d9\u6295\u8cc7\u7522\u696d\u754c\u7684\u91cd\u91cf\u7d1a\u4eba\u58eb\uff0c\u60f3\u6295\u8cc7ETF\u7684\u6295\u8cc7\u4eba\u90fd\u61c9\u8a72\u770b\u9019\u672c\u66f8\uff09\u4ee5\u5176\u5e7e\u5341\u5e74\u7684\u8c50\u5bcc\u6295\u8cc7\u7d93\u9a57\uff0c\u5f97\u5230\u4e00\u500b\u7d50\u8ad6\u300c \u5927\u591a\u6578\u6295\u8cc7\u8005\u4e26\u6c92\u6709\u8dd1\u8d0f\u5e02\u5834\uff1b\u662f\u5e02\u5834\u6253\u6557\u4ed6\u5011\u3002\u300d<\/p>\n\n\n\n<p><a href=\"https:\/\/berkshirehathaway.com\/letters\/1996.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u5728\u4ed6\u76841996\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u88e1\u9762\u63d0\u904e\uff1a\u300c\u5c0d\u65bc\u5404\u4f4d\u500b\u4eba\u7684\u6295\u8cc7\u65b9\u5f0f\uff0c\u8b93\u6211\u63d0\u4f9b\u4e00\u9ede\u5fc3\u5f97\u7d66\u5404\u4f4d\u53c3\u8003\uff0c\u5927\u90e8\u5206\u7684\u6295\u8cc7\u4eba\uff0c\u4e0d\u7ba1\u6cd5\u4eba\u6216\u662f\u6563\u6236\uff0c\u53ef\u80fd\u6703\u8a8d\u70ba\u6295\u8cc7\u80a1\u7968\u6700\u597d\u7684\u65b9\u5f0f\u662f\u76f4\u63a5\u53bb\u8cb7\u624b\u7e8c\u8cbb\u4f4e\u5ec9\u7684\u6307\u6578\u578b\u57fa\u91d1\uff0c\u7576\u7136\u9019\u6a23\u7684\u505a\u6cd5\u6240\u5f97\u5230\u7684\u7d50\u679c(\u5728\u6263\u9664\u76f8\u95dc\u624b\u7e8c\u8cbb\u7528\u4e4b\u5f8c)\uff0c\u61c9\u8a72\u53ef\u4ee5\u5f88\u8f15\u6613\u5730\u64ca\u6557\u5e02\u5834\u4e0a\u5927\u90e8\u5206\u7684\u6295\u8cc7\u5c08\u5bb6\u3002\u300d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%BC%83%E5%A5%BD%E7%9A%84%E5%81%9A%E6%B3%95\"><\/span><strong>\u8f03\u597d\u7684\u505a\u6cd5<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>ETF\u8f03\u597d\u7684\u4f5c\u6cd5\u662f\u7528\u7f8e\u570b\u7dda\u4e0a\u5238\u5546\u8cb7\u7f8e\u570b\u4e0a\u5e02\uff0c\u8cb7\u8ffd\u8e64\u4e3b\u8981\u5e02\u5834\u5927\u76e4\u6307\u6578\u7684ETF\uff0c\u6301\u6709\u6210\u672c\u8cbb\u6108\u4f4e\u6108\u597d\uff0c\u4e0d\u5fc5\u8ff7\u4fe1\u767c\u884c\u5546\u3002SPY\u4e0d\u662f\u597d\u7684\u6a19\u7684\uff0c\u5efa\u8b70\u9078IVV\u6216VOO\u90fd\u53ef\u4ee5\u3002\u7528\u8907\u59d4\u8a17\u8cb7\u7f8e\u570b\u767c\u884c\u7684ETF\uff0c\u6216\u662f\u8cb7\u53f0\u7063\u696d\u8005\u767c\u884c\u8ffd\u8e64\u6a19\u666e500\u6307\u6578\u7684ETF\uff0c\u90fd\u662f\u300c\u6975\u4e0d\u660e\u667a\u300d\u7684\u6295\u8cc7\u884c\u70ba\u3002<\/p>\n\n\n\n<p>\u904e\u53bb25\u5e74\uff0c\u8ffd\u8e64\u5927\u76e4\u7684ETF\u7684\u5e73\u5747\u5831\u916c\u53ea\u6709\u7d047.5%\u800c\u5df2\uff0c\u5982\u679c\u7528\u8907\u59d4\u8a17\uff0c\u6216\u8cb7\u975e\u7f8e\u570b\u767c\u884c\u8ffd\u8e64\u6a19\u666e500\u7684ETF\uff0c\u6240\u6709\u6301\u6709\u6210\u672c\u548c\u624b\u7e8c\u8cbb\u52a0\u4e00\u52a0\uff08\u9019\u662f\u5c0f\u5b78\u4e00\u5e74\u7d1a\u7684\u6578\u5b78\uff0c\u6211\u5c31\u4e0d\u5e6b\u5927\u5bb6\u8a73\u7b97\u4e86\uff09\uff0c\u5927\u7d04\u6703\u591a\u8017\u53bb\u60a81.5%\u7684\u4e0d\u5fc5\u8981\u7684\u6210\u672c\u3002\u90a3\u60a8\u5c31\u53ea\u5269\u4e0b\u7d046%\u7684\u5831\u916c\u800c\u5df2\u3002\u4f60\u767d\u767d\u6d6a\u8cbb\u4e8620%\u7684\u8cc7\u91d1\uff0c\u9019\u662f\u4e00\u500b\u5f88\u5927\u7684\u6578\u5b57\uff01\u6301\u6709\u591a\u5e74\uff0c\u8a08\u5165\u9577\u671f\u6642\u9593\u8907\u5229\uff0c\u6703\u6bd420%\u518d\u591a\u4e0a\u5f88\u591a\uff01<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%AF%A6%E9%9A%9B%E6%95%B8%E6%93%9A%E5%A6%82%E4%BD%95%EF%BC%9F\"><\/span>\u5be6\u969b\u6578\u64da\u5982\u4f55\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9053\u5bcc\uff08State Street\uff09\u65d7\u4e0b\u4ee3\u78bc\u70baSPY\u7684SPDR\u6a19\u666e500\u6307\u6578ETF\u4fe1\u8a17\uff0c2025\u5e74\u81f310\u6708\u4f86\u5df2\u6de8\u6d41\u51fa327\u5104\u7f8e\u5143\u3002\u5118\u7ba12025\u5e74\u9084\u8981\u518d\u904e\u4e09\u500b\u6708\u624d\u7d50\u675f\uff0c\u9019\u500b\u6578\u5b57\u5df2\u6539\u5bebETF\u53f2\u4e0a\u6700\u9ad8\u5168\u5e74\u6de8\u6d41\u51fa\u7d00\u9304\u3002<\/p>\n\n\n\n<p>\u76f8\u8f03\u4e4b\u4e0b\uff0c\u5148\u92d2\uff08Vanguard\uff09\u65d7\u4e0b\u540c\u985e\u57fa\u91d1VOO2025\u5e74\u4f86\u6de8\u6d41\u5165584\u5104\u7f8e\u5143\u3002\u5168\u7403\u6700\u5927\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\u8c9d\u840a\u5fb7\uff08BlackRock\uff09\u65d7\u4e0b\u4ee3\u78bc\u70baIVV\u7684iShares\u6838\u5fc3\u6a19\u666e500\u6307\u6578ETF\uff0c2025\u5e74\u4f86\u4e5f\u6de8\u6d41\u5165304\u5104\u7f8e\u5143\u3002<\/p>\n\n\n\n<p>\u7f8e\u570b12.2\u5146\u7f8e\u5143\u7684ETF\u5e02\u5834\u9010\u6f38\u300c\u6563\u6236\u5316\u300d\uff0c\u5c08\u6ce8\u65bc\u8ffd\u5c0b\u6700\u4f4e\u8cbb\u7387\u7684\u5c0f\u578b\u6295\u8cc7\u4eba\u89d2\u8272\u65e5\u76ca\u5403\u91cd\uff0c\u6301\u7e8c\u70baVOO\u548c\u5176\u4ed6\u8207SPY\u7af6\u722d\u7684\u57fa\u91d1\u5e36\u4f86\u52a9\u76ca\u3002VOO\u53caIVV\u5e74\u8cbb\u7387\u50c50.03%\uff0c\u9060\u4f4e\u65bcSPY\u76840.0945%\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"207\" height=\"110\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/09\/E-1600x1200-1.jpg\" alt=\"\u5927\u76e4ETF\" class=\"wp-image-25222\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AA%9E\"><\/span><strong>\u7d50\u8a9e<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6700\u5f8c\uff0c\u6211\u60f3\u7528\u5f15\u7528\u585e\u601d\uff0e\u5361\u62c9\u66fc\u7684\u540d\u8a00\u505a\u70ba\u7d50\u675f\u300c\u5982\u679c\u4f60\u7121\u6cd5\u64ca\u6557\u5927\u76e4\uff0c\u90a3\u5c31\u628a\u81ea\u5df1\u8b8a\u6210\u70ba\u5927\u76e4\u3002\u300d<\/p>\n\n\n\n<p><strong>\u8a3b<\/strong>\uff1a\u56b4\u683c\u4f86\u8aaa\uff0c\u53f0\u7063\u80a1\u5e02\u4e26\u6c92\u6709\u4efb\u4f55\u4e00\u6a94ETF\u662f\u53f0\u80a1\u7684\u5927\u76e4ETF\uff08\u6211\u6307\u7684\u662f\u5b8c\u5168\u8ffd\u8e64\u53f0\u80a1\u52a0\u6b0a\u6307\u6578\uff09\uff0c\u50cf\u7f8e\u80a1\u7684IVV\u6216VOO\u624d\u662f\u8ffd\u8e64\u7f8e\u80a1\u7684\u5927\u76e4ETF\u3002\u6b64\u5916\uff0c\u71b1\u9580\u7684\u9ad8\u80a1\u606fETF\u4e26\u4e0d\u662f\u5927\u76e4ETF\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/05\/22\/%e8%87%aa%e8%a1%8c%e9%81%b8%e8%82%a1\/\">\u4e00\u822c\u4eba\u4e0d\u9069\u5408\u81ea\u884c\u9078\u80a1<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/14\/%e5%a4%a7%e7%9b%a4etf%e7%9a%84%e8%87%b4%e5%af%8c%e5%a8%81%e5%8a%9b\/\">\u6295\u8cc7\u4eba\u592a\u5c0f\u770b\u5927\u76e4ETF\u7684\u81f4\u5bcc\u5a01\u529b\u4e86<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/\">\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08Charles Ellis\uff09\u7c21\u4ecb\u548c\u4ed6\u5beb\u7684\u300a\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/10\/%E7%BE%8E%E5%9C%8Betf%E6%8C%87%E6%95%B8%E5%9F%BA%E9%87%91%E7%9A%84%E6%B3%95%E8%A6%8F%E5%92%8C%E9%99%90%E5%88%B6%E9%80%A0%E6%88%90%E7%9A%84%E5%BE%8C%E6%9E%9C\/\">\u7f8e\u570bETF\u6307\u6578\u57fa\u91d1\u7684\u6cd5\u898f\u548c\u9650\u5236\u9020\u6210\u7684\u5f8c\u679c<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/05\/29\/%e6%8a%95%e8%b3%87%e4%ba%ba%e6%ad%a3%e5%bf%ab%e9%80%9f%e8%bd%89%e5%90%91%e8%a2%ab%e5%8b%95%e6%8a%95%e8%b3%87%e5%9f%ba%e9%87%91%e6%8a%9b%e6%a3%84%e4%b8%bb%e5%8b%95%e6%8a%95%e8%b3%87%e5%9f%ba%e9%87%91\/\">\u5168\u7403\u6295\u8cc7\u4eba\u6b63\u5feb\u901f\u8f49\u5411\u88ab\u52d5\u6295\u8cc7\u57fa\u91d1ETF\uff0c\u629b\u68c4\u4e3b\u52d5\u6295\u8cc7\u57fa\u91d1<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%E5%A4%A7%E9%83%A8%E4%BB%BD%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%AE%93%E8%B2%B7%E5%A4%A7%E7%9B%A4etf\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u70ba\u4ec0\u9ebc\u5927\u90e8\u4efd\u7684\u6295\u8cc7\u4eba\u90fd\u61c9\u8a72\u6295\u8cc7\u5927\u76e4ETF<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/02\/14\/%e8%91%97%e5%90%8d%e7%9a%84%e7%be%8e%e8%82%a1%e7%a7%91%e6%8a%80etf%e5%a0%b1%e9%85%ac%e7%8e%87%e6%95%b4%e7%90%86\/\">\u8457\u540d\u7684\u7f8e\u80a1\u79d1\u6280ETF\u5831\u916c\u7387\u6574\u7406<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/26\/%e5%a4%a7%e7%9b%a4%e5%af%a6%e9%9a%9b%e6%8c%87%e6%95%b8%e5%92%8c%e5%a4%a7%e7%9b%a4%e6%8c%87%e6%95%b8etf%e8%a1%a8%e7%8f%be%e4%b8%a6%e4%b8%8d%e7%9b%b8%e5%90%8c\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u76e4\u5be6\u969b\u6307\u6578\u548c\u5927\u76e4\u6307\u6578ETF\u8868\u73fe\u4e26\u4e0d\u76f8\u540c<\/a>\u300b<\/li>\n\n\n\n<li><span style=\"font-size: revert;\">\u300a<\/span><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/11\/%e6%a8%99%e6%99%ae500%e6%8c%87%e6%95%b8%e5%b9%b4%e5%8c%96%e5%a0%b1%e9%85%ac%e7%8e%87%e6%9f%a5%e8%a9%a2%e5%99%a8\/\">\u6a19\u666e500\u6307\u6578\u5e74\u5316\u5831\u916c\u7387\u67e5\u8a62\u5668<\/a><span style=\"font-size: revert;\">\u300b<\/span><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/02\/08\/%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%A9%B2%E9%81%B8%E6%93%87%E5%9C%A8%E7%BE%8E%E5%9C%8B%E7%99%BC%E8%A1%8C%E7%9A%84%E7%BE%8E%E5%9C%8B%E5%A4%A7%E7%9B%A4etf\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u4eba\u61c9\u8a72\u9078\u64c7\u5728\u7f8e\u570b\u767c\u884c\u7684\u7f8e\u570b\u5927\u76e4ETF<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/13\/%E4%B8%BB%E8%A6%81%E7%9A%84%E7%BE%8E%E8%82%A1%E5%A4%A7%E7%9B%A4%E6%8C%87%E6%95%B8%E5%92%8C%E5%8D%81%E5%A4%A7etf\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7f8e\u80a1\u5927\u76e4\u5341\u5927ETF\u548c\u4e3b\u8981\u76846\u5927\u7f8e\u80a1\u5927\u76e4\u6307\u6578<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/25\/%e5%94%af%e4%b8%80%e5%80%bc%e5%be%97%e6%b0%b8%e4%b9%85%e6%8c%81%e6%9c%89%e7%9a%84%e8%82%a1%e7%a5%a8\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6a19\u666e500\u6307\u6578\uff0c\u552f\u4e00\u503c\u5f97\u6c38\u4e45\u6301\u6709\u7684\u80a1\u7968<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/08\/11\/%e6%a8%99%e6%99%ae500%ef%bc%8c%e9%82%a3%e6%96%af%e9%81%94%e5%85%8b%ef%bc%8c%e9%81%93%e7%93%8a%ef%bc%8c%e8%b2%bb%e5%9f%8e%e5%8d%8a%e5%b0%8e%e9%ab%94%e6%8c%87%e6%95%b8%e6%88%90%e7%ab%8b%e4%bb%a5\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e00\u5f35\u8868\u6bd4\u8f03\u6a19\u666e500\uff0c\u90a3\u65af\u9054\u514b\uff0c\u9053\u74ca\uff0c\u8cbb\u57ce\u534a\u5c0e\u9ad4\u6307\u6578\u6210\u7acb\u4ee5\u4f86\u6b77\u5e74\u5831\u916c\u6578\u5b57\u548c\u5e74\u5316\u5831\u916c\u7387<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/homework\/%e5%a6%82%e4%bd%95%e8%a8%88%e7%ae%97%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%ef%bc%9f\/\">\u300a\u6295\u8cc7\u4eba\u8a72\u91cd\u8996\u7684\u662f\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387\uff08IRR\uff09\uff0c\u4ee5\u53ca\u514d\u8cbb\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387\uff08IRR\uff09\u8a08\u7b97\u5668(IRR)\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/03\/26\/%e6%8a%95%e8%b3%87etf%e7%9a%84%e7%bc%ba%e9%bb%9e\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7ETF\u7684\u7f3a\u9ede\uff0c\u81f3\u5c11\u67096\u9805<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/12\/09\/%e4%b8%8d%e8%a6%81%e6%8a%95%e8%b3%87%e9%9d%9e%e5%a4%a7%e7%9b%a4etf%e7%9a%84%e7%90%86%e7%94%b1\/\">\u975e\u5927\u76e4ETF\u4e0d\u503c\u5f97\u6295\u8cc7\u76845\u5927\u7406\u7531<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/26\/%e5%a4%a7%e7%9b%a4%e5%af%a6%e9%9a%9b%e6%8c%87%e6%95%b8%e5%92%8c%e5%a4%a7%e7%9b%a4%e6%8c%87%e6%95%b8etf%e8%a1%a8%e7%8f%be%e4%b8%a6%e4%b8%8d%e7%9b%b8%e5%90%8c\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u76e4\u5be6\u969b\u6307\u6578\u548c\u5927\u76e4\u6307\u6578ETF\u8868\u73fe\u4e26\u4e0d\u76f8\u540c<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul 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