How to convert the net unit value after the closed period of ETF funds is opened?

During the fundraising period, ETF** is repurchased into a basket according to the components and constituent equities of the benchmark index every day**, because the ETF benchmark index during the fundraising period is changing, so the net value of ETF** will be affected by the trading of the day every day, that is, the ** share subscribed by an investor on a certain day during the fundraising period is different from the net value of the share subscribed by another investor on the same day a few days later.

Usually after the end of the fundraising period, the company will issue an announcement to determine the conversion date of ETF shares, and calculate the net value of unit shares according to the net assets and shares on the conversion date, according to the ETF benchmark index points on that day.

The net value of the net ** share is converted to the corresponding ETF benchmark index point, and the ** share is also adjusted accordingly, but the ** share unit net value ** net asset is maintained.

The total assets of ** will be calculated every trading day, including assets and liabilities such as **, bonds, warrants and principal and interest of bank deposits, etc., which are generally valued according to the ** price of the asset on the day (so the ** net value is generally announced after the evening), and then divide by ** total share to get ** net value of the unit.

X is the **net asset value, Y is the **share before conversion, and I is the underlying index, so that after conversion, the part of the funds that made or lost during the opening period can be weighted and averaged to the existing index. This ratio is then multiplied by the pre-conversion ** share to calculate the total converted share. Divide the converted net value by the converted total share to get the converted net value of each copy.

**Investors are most concerned about the expected return of investment**, and there are not a few investors who invest in ETF**, although **investment does not need to calculate the expected return by themselves, but for many investors, it is more reassuring to understand the daily expected return changes of ETF**. So, what do ETFs think about expected returns? So let's take a look.

How do ETFs** view expected returns?

The expected return of the ETF is expressed in the net unit value of the day, and the profitability of the ETF is expressed in the cumulative net value. So, what do ETFs think about expected returns?

The initial net value of ** is 1, and with the continuous operation of **, the net value will change every wild rock day, and the amount of change determines the expected return of investors. **The expected return of the day is to subtract the net unit value of the previous day (all are trading days) from the net unit value of the day, and then multiply it by the **share confirmed by the investor, and the result is the **expected return you get in one day; The cumulative expected return over a period of time is the net value of the unit after a period of time minus the ** net value on the day of purchase, multiplied by the ** share recognized.

**How expected returns are calculated

In order to illustrate the problem and express the content of the above formula in layman's terms, let's take an example: if you **1000 yuan**, the net value of the subscription date is 1, after a period of time, the net value of the unit is ** The subscription fee redemption fee is ** to grind the grandson) (the specific handling fee rate needs to be viewed on the official website of **), the redemption fee decreases with the extension of the holding time, and the redemption fee is generally waived for more than three years. The expected return is:

Buy ** shares.

1000-1000* redemption fee.

992* yuan.

Expected Earnings.

Yuan. So if you invest 1,000 yuan, the net value is as mentioned above, and the expected return is yuan.

Note: Whether it is subscription or redemption, the handling fee is calculated based on the amount.