{"id":1184,"date":"2019-07-10T16:26:00","date_gmt":"2019-07-10T08:26:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1184"},"modified":"2026-05-22T16:09:05","modified_gmt":"2026-05-22T08:09:05","slug":"%e5%8f%aa%e8%a6%81%e6%9c%89%e9%80%99%e5%80%8b%ef%bc%81%e4%ba%ba%e4%ba%ba%e9%83%bd%e5%8f%af%e6%98%af%e5%8c%85%e7%a7%9f%e5%85%ac%e3%80%81%e5%8c%85%e7%a5%96%e5%a9%86","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1184","title":{"rendered":"\u4e0d\u52d5\u7522\u6295\u8cc7\u4fe1\u8a17\u57fa\u91d1 ( REITs ) \u662f\u4ec0\u9ebc\uff1f\u53ea\u8981\u6709\u9019\u500b\uff01\u4eba\u4eba\u90fd\u53ef\u662f\u5305\u79df\u516c\u3001\u5305\u7956\u5a46\uff01"},"content":{"rendered":"\n<p>\u770b\u8457\u65b0\u805e\u4e2d\u64ad\u5831\u623f\u50f9\u5347\u9ad8\u3001\u6ce8\u610f\u5230\u9694\u58c1\u53c8\u65b0\u5efa\u4e86\u4e00\u68df\u5546\u8fa6\u5927\u6a13\u3001\u77e5\u540d\u98ef\u5e97\u696d\u8005\u5373\u5c07\u62d3\u5c55\u65b0\u7684\u7248\u5716\u2026\u2026\u9019\u4e9b\u4e0d\u6642\u51fa\u73fe\u5728\u6211\u5011\u751f\u6d3b\u5468\u906d\u7684\u4e0d\u52d5\u7522\u8cc7\u8a0a\uff0c\u662f\u5426\u8b93\u4f60\u4e5f\u5fc3\u7662\u7662\u60f3\u6295\u8cc7\uff1f\u4f46\u7919\u65bc\u8cc7\u91d1\u800c\u7121\u6cd5\u57f7\u884c\uff0c\u6216\u8005\u96d6\u64c1\u6709\u8db3\u5920\u8cc7\u91d1\u537b\u4e0d\u77e5\u9053\u8a72\u6295\u8cc7\u4f4f\u5b85\u3001\u5546\u8fa6\u3001\u8cfc\u7269\u4e2d\u5fc3\u3001\u5de5\u696d\u5ee0\u623f\u54ea\u985e\u4e0d\u52d5\u7522\u624d\u597d\uff1f<\/p>\n\n\n\n<p>\u4e0a\u8ff0\u554f\u984c\u53ea\u8981\u900f\u904e\u4e0d\u52d5\u7522\u6295\u8cc7\u4fe1\u8a17\u57fa\u91d1 ( REITs )\uff0c\u4fbf\u53ef\u8b93\u4f60\u7121\u75db\u3001\u7121\u8166\u5730\u8f15\u9b06\u52a0\u5165\u6295\u8cc7\u4e0d\u52d5\u7522\u7684\u4e00\u54e1\u5466\uff01<\/p>\n\n\n\n<p>\u90a3\u9ebc REITs \u5230\u5e95\u662f\u751a\u9ebc\uff1f\u7c21\u55ae\u4f86\u8aaa\u5b83\u662f\u7531\u57fa\u91d1\u767c\u884c\u516c\u53f8<strong>\u5c07\u5404\u7a2e\u4e0d\u52d5\u7522\u7684\u6240\u6709\u6b0a\uff0c\u5206\u5272\u6210\u8a31\u591a\u5c0f\u90e8\u5206\u800c\u6210\u7684\u6295\u8cc7\u5546\u54c1<\/strong>\u3002\u56e0\u6b64\uff0c\u5373\u4fbf\u53ea\u6709\u5c11\u91cf\u8cc7\u91d1\u4e5f\u80fd\u8b93\u4f60\u64c1\u6709\u4e0d\u52d5\u7522\u6240\u6709\u6b0a\u3001\u5171\u4eab\u79df\u91d1\u6536\u5165\u6210\u70ba\u623f\u6771\u4e4b\u4e00\uff01<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"457\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/11-1-768x457-1.png\" alt=\"\" class=\"wp-image-1186\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/11-1-768x457-1.png 768w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/11-1-768x457-1-300x179.png 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<p>\u53e6\u5916\uff0c\u82e5\u4f60\u7684\u6295\u8cc7\u7d44\u5408\u4e2d\u53ea\u6709\u80a1\u7968\u53ca\u50b5\u5238\u5546\u54c1\u7684\u8a71\uff0c\u4e0d\u59a8\u8003\u616e\u8a66\u8457\u5c07 REITs \u4e5f\u7d0d\u5165\u5176\u4e2d\uff0c\u6709\u6a5f\u6703\u70ba\u4f60\u5e36\u4f86\u66f4\u8b93\u4eba\u958b\u5fc3\u7684\u7d50\u679c\u3002\u600e\u9ebc\u8aaa\u5462\uff1f\u8b93\u6211\u5011\u4f86\u770b\u770b\u5047\u8a2d\u6709\u4e00\u500b\u6295\u8cc7\u7d44\u5408\u662f\u7531\u4e00\u500b\u80a1\u7968\u5546\u54c1 \u2013 VTI (\u7f8e\u570b\u80a1\u7968\u578b ETF )\u8207\u50b5\u5238\u5546\u54c1 \u2013 VCLT (\u7f8e\u570b\u9577\u671f\u516c\u53f8\u50b5 ETF) \u6240\u7d44\u6210\u7684\uff0c\u82e5\u5728\u6b64\u5176\u4e2d\u52a0\u5165\u4e00\u500b REITs \u2013 \u5546\u54c1 VNQ (\u7f8e\u570b\u4e0d\u52d5\u7522 ETF) \u7684\u72c0\u6cc1\u5427\uff01<\/p>\n\n\n\n<p>\u9996\u5148\uff0c\u5148\u4f86\u770b\u770b\u9019 3 \u7a2e\u5546\u54c1\u5f7c\u6b64\u4e4b\u9593\u7684\u76f8\u95dc\u4fc2\u6578\uff0c\u7531\u4e0b\u8868\u5f97\u77e5 VNQ ( REITs \u5546\u54c1) \u548c VTI (\u80a1\u7968\u5546\u54c1) \u7684\u76f8\u95dc\u4fc2\u6578\u70ba 0.02\uff1bVNQ \u548c VCLT (\u50b5\u5238\u5546\u54c1) \u7684\u76f8\u95dc\u4fc2\u6578\u70ba 0.21\u3002\u800c\u76f8\u95dc\u4fc2\u6578\u7684\u6578\u503c\u8d8a\u4f4e\uff0c\u610f\u7fa9\u4ee3\u8868\u5176\u95dc\u4fc2\u8d8a\u4e0d\u5bc6\u5207 (\u76f8\u95dc\u4fc2\u6578\u6700\u9ad8\u503c\u70ba 1 \u8868\u793a\u8d85\u7d1a\u76f8\u95dc)\u3002\u4e5f\u5c31\u662f\u8aaa\uff0c\u7576\u80a1\u7968\u6216\u50b5\u5238\u4e0b\u8dcc\u6642\uff0c\u7531\u65bc REITs \u548c\u80a1\u7968\u6216\u50b5\u5238\u9593\u5b58\u5728\u8f03\u4f4e\u7684\u76f8\u95dc\u6027\uff0c\u56e0\u6b64\u80fd\u5920\u5c07\u4e0b\u8dcc\u6240\u9020\u6210\u7684\u98a8\u96aa\u5206\u6563\u6389\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"704\" height=\"429\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/22-1.png\" alt=\"\" class=\"wp-image-1187\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/22-1.png 704w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/22-1-300x183.png 300w\" sizes=\"auto, (max-width: 704px) 100vw, 704px\" \/><\/figure>\n\n\n\n<p>\u63a5\u8457\uff0c\u53ef\u4ee5\u900f\u904e\u6548\u7387\u524d\u7de3\u7dda\uff0c\u4f86\u6aa2\u6e2c\u770b\u770b\u52a0\u5165 REITs \u5f8c\u7684\u6295\u8cc7\u7d44\u5408\u8207\u6c92\u52a0\u5165\u7684\u5dee\u5225\u5728\u54ea\u88e1\u3002\u5728\u6b64\u5148\u7c21\u55ae\u8aaa\u660e\u4e00\u4e0b\u6548\u7387\u524d\u7de3\u7dda*\u662f\u4ec0\u9ebc\u5427\uff01\u6548\u7387\u524d\u7de3\u7dda\u662f\u7531\u5169\u7a2e\u4ee5\u4e0a\u7684\u6295\u8cc7\u5546\u54c1\u4f9d\u4e0d\u540c\u7684\u914d\u7f6e\u6bd4\u4f8b\u6240\u7d44\u6210\uff0c\u4ee5\u6b64\u53ef\u5f97\u51fa\u5728\u5404\u500b\u4e0d\u540c\u914d\u7f6e\u6bd4\u4f8b\u4e0b\u7684\u5831\u916c\u7387\u8207\u6a19\u6e96\u5dee\uff0c\u5c07\u5176\u5728\u5716\u8868\u4e2d\u986f\u793a\u5c31\u6703\u662f\u8a31\u591a\u500b\u9ede\uff0c\u628a\u9019\u4e9b\u9ede\u9023\u7dda\u5f8c\uff0c\u5373\u5f97\u51fa\u6548\u7387\u524d\u7de3\u7dda\u3002\u82e5\u5c07\u4e0d\u540c\u7684\u5546\u54c1\u7d44\u5408\u5408\u4f75\u5728\u540c\u4e00\u5f35\u5716\u8868\u4e2d\u505a\u6bd4\u8f03\u6642\uff0c\u82e5\u5176\u80fd\u843d\u5728\u5716\u8868\u7684\u8d8a\u5de6\u908a\uff0f\u8d8a\u4e0a\u65b9\uff0c\u5247\u8868\u793a\u80fd\u6709\u76f8\u5c0d\u8f03\u4f4e\u7684\u6a19\u6e96\u5dee (\u98a8\u96aa)\uff0f\u8f03\u9ad8\u7684\u5831\u916c\u7387\u3002<\/p>\n\n\n\n<p>\u5f9e\u4e0b\u5716\u53ef\u770b\u51fa\uff0c\u7576\u5831\u916c\u7387\u540c\u70ba 11% \u6642\uff0c\u6709\u52a0\u5165 REITs \u7684\u7dda\u689d (\u85cd) \u6240\u5c0d\u61c9\u7684\u6a19\u6e96\u5dee\u7d04\u70ba 10.5%\uff0c\u800c\u53ea\u7531\u80a1\u7968\u548c\u50b5\u5238\u6240\u7d44\u6210\u7684\u7dda\u689d (\u7070) \u6240\u5c0d\u61c9\u7684\u6a19\u6e96\u5dee\u5247\u70ba 11%\u3002\u4e5f\u5c31\u662f\u8aaa\uff0c\u52a0\u5165 REITs \u7684\u7d44\u5408\u5728\u6b64\u53ef\u4ee4\u98a8\u96aa\u964d\u4f4e (\u6a19\u6e96\u5dee\u8f03\u4f4e)\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1305\" height=\"996\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/333-1.png\" alt=\"\" class=\"wp-image-1188\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/333-1.png 1305w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/333-1-300x229.png 300w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/333-1-1024x782.png 1024w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/333-1-768x586.png 768w\" sizes=\"auto, (max-width: 1305px) 100vw, 1305px\" \/><\/figure>\n\n\n\n<p>\u800c\u4e0b\u5716\u5247\u70ba\uff0c\u7576\u6a19\u6e96\u5dee (\u98a8\u96aa) \u540c\u70ba 11% \u6642\uff0c\u6709\u52a0\u5165 REITs \u7684\u7dda\u689d (\u85cd) \u6240\u5c0d\u61c9\u7684\u5831\u916c\u70ba 11.24%\uff0c\u800c\u53ea\u7531\u80a1\u7968\u548c\u50b5\u5238\u6240\u7d44\u6210\u7684\u7dda\u689d (\u7070) \u7684\u5831\u916c\u7387\u5c31\u4f4e\u4e86\u4e9b\u70ba 10.95%\u3002\u56e0\u6b64\uff0c\u52a0\u5165 REITs \u7684\u7d44\u5408\u5728\u6b64\u53ef\u4f7f\u5831\u916c\u7387\u63d0\u9ad8\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1022\" height=\"781\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/44.png\" alt=\"\" class=\"wp-image-1189\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/44.png 1022w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/44-300x229.png 300w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/44-768x587.png 768w\" sizes=\"auto, (max-width: 1022px) 100vw, 1022px\" \/><\/figure>\n\n\n\n<p>\u56e0\u6b64\uff0c\u82e5\u6295\u8cc7\u7d44\u5408\u53ea\u6709\u80a1\u7968\u548c\u50b5\u5238\u5546\u54c1\u6642\uff0c\u9069\u7576\u7684\u5c07 REITs \u5546\u54c1\u4e00\u540c\u52a0\u5165\u5f8c\uff0c\u80fd\u5c0d\u6295\u8cc7\u7d44\u5408\u7684\u5831\u916c\u7387\u53ca\u6a19\u6e96\u5dee (\u98a8\u96aa) \u7372\u5f97\u76f8\u5c0d\u66f4\u597d\u7684\u8a72\u5584\u5594\uff01<\/p>\n\n\n\n<p>\u53e6\u5916\uff0cREITs \u9664\u4e86\u80fd\u6709\u6a5f\u6703\u589e\u52a0\u6295\u8cc7\u6548\u80fd\u4e4b\u5916\uff0c\u9084\u6709\u4ee5\u4e0b\u512a\u9ede\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u964d\u4f4e\u53ef\u80fd\u640d\u5931\u5e45\u5ea6<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u7576\u6301\u6709\u5be6\u9ad4\u4e0d\u52d5\u7522\u6642\uff0c\u6613\u53d7\u5916\u5728\u74b0\u5883\u5f71\u97ff\u800c\u5c0e\u81f4\u640d\u5931\uff0c\u8af8\u5982:\u666f\u6c23\u3001\u5229\u7387\u751a\u81f3\u5929\u707d (\u5730\u9707)\u3001\u4eba\u798d (\u706b\u707d) \u2026\u2026\u7b49\u3002\u4f46\u82e5\u6301\u6709\u4ee5\u591a\u7a2e\u4e0d\u52d5\u7522\u6a19\u7684\u800c\u7d44\u5408\u6210\u7684 REITs \u7684\u8a71\uff0c\u5247\u80fd\u4f7f\u98a8\u96aa\u5206\u6563\u3001\u640d\u5931\u964d\u4f4e\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u8b8a\u73fe\u901f\u5ea6\u5feb<\/strong><\/li>\n<\/ul>\n\n\n\n<p>REITs \u662f\u7d50\u5408\u4e0d\u52d5\u7522\u5e02\u5834\u53ca\u8cc7\u672c\u5e02\u5834\uff0c\u5c07\u4e0d\u52d5\u7522\u6240\u6709\u6b0a\u8b49\u5238\u5316\uff0c\u56e0\u6b64\uff0c\u5982\u4f60\u6025\u9700\u73fe\u91d1\u6642\u4e5f\u53ef\u4ee5\u8f15\u9b06\u4e14\u5feb\u901f\u5730\u5c07\u5176\u8b8a\u8ce3\u63db\u6210\u73fe\u91d1\u3002\u4f46\u82e5\u662f\u6301\u6709\u5be6\u8cea\u7684\u4e0d\u52d5\u7522\u6642\uff0c\u5982\u6301\u6709\u4e00\u5de5\u5ee0\u623f\u5c4b\uff0c\u79df\u8cc3\u6216\u8b8a\u8ce3\u90fd\u81f3\u5c11\u8981\u8017\u8cbb\u597d\u5e7e\u5468\u751a\u81f3\u597d\u5e7e\u6708\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6295\u8cc7\u9580\u6abb\u8f03\u4f4e<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u8cfc\u8cb7\u5be6\u8cea\u4e0d\u52d5\u7522\u9700\u8981\u6e96\u5099\u96c4\u539a\u7684\u8cc7\u91d1\uff0c\u4f46\u8cfc\u8cb7 REITs \u4f60\u53ea\u9700\u8981\u4e0d\u5230\u842c\u5143\u7684\u9322\u5c31\u80fd\u64c1\u6709\uff0c\u800c\u4e14\u7ba1\u7406\u8cbb\u4e5f\u5f88\u4f4e\u5594\uff01<\/p>\n\n\n\n<ul 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