????????????????????,????????????????????????

1????31???????????????????,??0.66%,?????2813.21????/????????,??????,???????????????????????2800??/????????????????;COMEX?????????????????0.51%,??2864.2?????????/?,???????

???????????????2??2????,????847?/?????

????,?,??????????,2025???????????????3000??????????????????/????????????

??????846????

????,???????????

2????????????????????2????????????,?????????????????????846?????????/??????,?,???847??????????/?????????????,??????????????????????????????????????????????846?????????????????/?????

????????,?,???????

????????,????,??????????

??,?,??,?????????????????????????????,???????????????????????????,??????????,?,??????????????“?????????????????,?????”?

???????,??

??,??????20???????40??/??,20?25???????/????????;?????????40?/?????????;??100?/????????????0????????;????????128???????????/????????;????????108???????????/??;??128????????????/??????????????0???????

“??????????,???????,?????????????????????????,???”??

2024??,????????????????25.83%,?????????????????????????????????,???

???????,2024??????985.31?,?????????9.58%???532.02????,??????????24.69%;????373.13????????,?24.54%;??????????80.16?,????????????????????4.12%?

????????????,2024??????,????????????????,?????????,?,??????????????????????????????????????,??????????????????????????????????,?,?????

??,??????????,??????????????,??????“?”???????????,2024???????????,????2024?,????????????????????????

“????????????2024?????,?????,????????????????????????,?,?????,???2024???,????????”??????

????3000??????????????????

???????,?????????????

?????????:“?,???????????????????,?????????????”

?,??????????

“??????????????,???????,??(??????????)?(ETF???????????)??????”??,“??????????????????????,?2026???????,?????????????3000????/????????”

?????,???????????????????????????2025?,???,2025??????????3000?????????????/?,??????????

?,??,?,???????????????

???????????,????2024??????????????11??“???????????”?,?,??????????,???????????,??????,???

???«2025?»????,2025??,??????????????10????,2025????????????????????,????,???????

? ?

???????????????????????:?????? ?????:?? “??spa500????”_????

?? ?!??847??????/????,?“??”???????

????:1???spa500????:????????

2?????ktv???

3????????

4??????

5?????????

????????????????????,????????????????????????

1????31???????????????????,??0.66%,?????2813.21????/????????,??????,???????????????????????2800??/????????????????;COMEX?????????????????0.51%,??2864.2?????????/?,???????

???????????????2??2????,????847?/?????

????,?,??????????,2025???????????????3000??????????????????/????????????

??????846????

????,???????????

2????????????????????2????????????,?????????????????????846?????????/??????,?,???847??????????/?????????????,??????????????????????????????????????????????846?????????????????/?????

????????,?,???????

????????,????,??????????

??,?,??,?????????????????????????????,???????????????????????????,??????????,?,??????????????“?????????????????,?????”?

???????,??

??,??????20???????40??/??,20?25???????/????????;?????????40?/?????????;??100?/????????????0????????;????????128???????????/????????;????????108???????????/??;??128????????????/??????????????0???????

“??????????,???????,?????????????????????????,???”??

2024??,????????????????25.83%,?????????????????????????????????,???

???????,2024??????985.31?,?????????9.58%???532.02????,??????????24.69%;????373.13????????,?24.54%;??????????80.16?,????????????????????4.12%?

????????????,2024??????,????????????????,?????????,?,??????????????????????????????????????,??????????????????????????????????,?,?????

??,??????????,??????????????,??????“?”???????????,2024???????????,????2024?,????????????????????????

“????????????2024?????,?????,????????????????????????,?,?????,???2024???,????????”??????

????3000??????????????????

???????,?????????????

?????????:“?,???????????????????,?????????????”

?,??????????

“??????????????,???????,??(??????????)?(ETF???????????)??????”??,“??????????????????????,?2026???????,?????????????3000????/????????”

?????,???????????????????????????2025?,???,2025??????????3000?????????????/?,??????????

?,??,?,???????????????

???????????,????2024??????????????11??“???????????”?,?,??????????,???????????,??????,???

???«2025?»????,2025??,??????????????10????,2025????????????????????,????,???????

? ?

???????????????????????:?????? ?????:??