{"id":1520,"date":"2024-11-08T17:23:30","date_gmt":"2024-11-08T09:23:30","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1520"},"modified":"2024-11-08T17:23:30","modified_gmt":"2024-11-08T09:23:30","slug":"%e5%a4%a9%e4%b8%8b%e6%9c%89%e7%99%bd%e5%90%83%e7%9a%84%e5%8d%88%e9%a4%90-%e6%8a%95%e8%b3%87%e5%85%a8%e7%90%83%e7%9a%84%e5%b0%8f%e7%a7%98%e5%af%86","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1520","title":{"rendered":"\u6295\u8cc7\u754c\u6709\u767d\u5403\u7684\u5348\u9910\uff1f\u7528\u5168\u7403\u591a\u5143\u5206\u6563\u7bc9\u8d77\u4f60\u7684\u8b77\u57ce\u6cb3\uff01"},"content":{"rendered":"\n

<\/p>\n\n\n\n

\u5728\u8207\u8a31\u591a\u6295\u8cc7\u4eba\u4ea4\u6d41\u7684\u904e\u7a0b\u4e2d\uff0c\u6211\u767c\u73fe\u5927\u5bb6\u5176\u5be6\u90fd\u660e\u767d\u9577\u671f\u6295\u8cc7\u7684\u91cd\u8981\u6027\uff0c\u4e5f\u5f88\u60f3\u505a\u5230\u3002\u4f46\u7576\u771f\u6b63\u9047\u5230\u77ed\u671f\u5e02\u5834\u4e0b\u8dcc\u6642\uff0c\u60c5\u6cc1\u5c31\u8b8a\u5f97\u4e0d\u4e00\u6a23\u4e86\u3002\u7576\u770b\u5230\u6301\u6709\u7684\u6a19\u7684\u8dcc\u5e45\u9054\u523010%\u300120%\u751a\u81f3\u66f4\u591a\u6642\uff0c\u90a3\u7a2e\u7126\u616e\u771f\u7684\u8b93\u4eba\u5f88\u96e3\u53d7\u3002\u5f88\u591a\u6295\u8cc7\u4eba\u5fcd\u4e0d\u4f4f\u60f3\u8ce3\u51fa\uff0c\u89ba\u5f97\u4e00\u5b9a\u5f97\u505a\u9ede\u4ec0\u9ebc\uff0c\u5426\u5247\u597d\u50cf\u5c31\u5750\u4ee5\u5f85\u6583\u3002\u5982\u679c\u9019\u6642\u5019\u4f60\u5efa\u8b70\u4ed6\u5011\u518d\u591a\u4e00\u9ede\u8010\u5fc3\u3001\u4ec0\u9ebc\u90fd\u5225\u505a\uff0c\u5f80\u5f80\u6703\u906d\u5230\u4e0d\u5c0f\u7684\u60c5\u7dd2\u53cd\u5f48\uff0c\u56e0\u70ba\u4ed6\u5011\u7684\u5fc3\u60c5\u5df2\u7d93\u88ab\u6050\u614c\u5b8c\u5168\u4e3b\u5c0e\u4e86\u3002<\/p>\n\n\n\n

\u800c\u8a31\u591a\u7814\u7a76\u8868\u660e\uff0c\u6295\u8cc7\u8005\u5728\u9019\u7a2e\u975e\u5e38\u6642\u671f\u505a\u51fa\u7684\u6c7a\u7b56\u5e38\u5e38\u6700\u4e0d\u7406\u6027\u6216\u6b63\u78ba\u3002<\/strong><\/p>\n\n\n\n

\u5f9e\u904e\u53bb\u7684\u6578\u64da\u4f86\u770b\uff0c\u80a1\u5e02\u5728\u7d93\u6b77\u6025\u8dcc\u5f8c\u901a\u5e38\u6703\u8fce\u4f86\u53ef\u89c0\u7684\u53cd\u5f48\uff0c\u986f\u793a\u4e86\u5e02\u5834\u7684\u4fee\u5fa9\u80fd\u529b\u548c\u6295\u8cc7\u6a5f\u6703\u3002\u7136\u800c\uff0c\u8a31\u591a\u6295\u8cc7\u4eba\u5728\u4fee\u6b63\u671f\u9593\uff0c\u9762\u5c0d\u8dcc\u5e45\u6642\u5bb9\u6613\u611f\u5230\u6050\u614c\uff0c\u9019\u6642\u505a\u51fa\u7684\u6295\u8cc7\u6c7a\u7b56\u5f80\u5f80\u662f\u57fa\u65bc\u60c5\u7dd2\u800c\u975e\u7406\u6027\u601d\u8003\u3002<\/p>\n\n\n\n

\u90a3\u5982\u4f55\u5728\u5e02\u5834\u6ce2\u52d5\u4e2d\u4fdd\u6301\u7a69\u5b9a\u5fc3\u614b\uff0c\u4e26\u900f\u904e\u8907\u5229\u6548\u679c\u9054\u6210\u9577\u671f\u6295\u8cc7\uff0c\u5be6\u73fe\u8ca1\u5bcc\u7684\u6301\u7e8c\u7d2f\u7a4d\u5462\uff1f<\/p>\n\n\n\n

\n

\u7b54\u6848\u662f\uff1a<\/strong>\u63a1\u7528\u8de8\u8cc7\u7522\u985e\u5225\u548c\u8de8\u5730\u5340\u7684\u591a\u5143\u5316\u6295\u8cc7\u7b56\u7565<\/strong>\u3002\u7c21\u55ae\u4f86\u8aaa\uff0c\u5c31\u662f\u6253\u9020\u4e00\u500b\u5168\u7403\u5206\u6563\u7684\u6295\u8cc7\u7d44\u5408<\/strong>\u3002<\/p>\n<\/blockquote>\n\n\n\n

\u9019\u6a23\u4e0d\u50c5\u80fd\u6709\u6548\u5206\u6563\u98a8\u96aa\uff0c\u9084\u80fd\u5728\u4e0d\u540c\u5e02\u5834\u548c\u7d93\u6fdf\u5468\u671f\u4e2d\u628a\u63e1\u6210\u9577\u6a5f\u6703\uff0c\u70ba\u9577\u671f\u7a69\u5065\u7684\u8ca1\u5bcc\u589e\u9577\u5960\u5b9a\u57fa\u790e\u3002<\/p>\n\n\n\n

\u4ec0\u9ebc\u662f\u591a\u5143\u6295\u8cc7\u7b56\u7565?<\/h3>\n\n\n\n

\u300c\u96de\u86cb\u4e0d\u8981\u653e\u5728\u540c\u4e00\u500b\u7c43\u5b50\u88e1\u300d\u662f\u4eba\u4eba\u8033\u719f\u80fd\u8a73\u7684\u751f\u6d3b\u54f2\u5b78\uff0c\u800c\u5b83\u80cc\u5f8c\u7684\u98a8\u96aa\u5206\u6563\u6982\u5ff5\uff0c\u76f4\u523020\u4e16\u7d0050\u5e74\u4ee3\u624d\u5728\u91d1\u878d\u9818\u57df\u4e2d\u88ab\u6b63\u5f0f\u8b49\u5be6\u5176\u91cd\u8981\u6027\u3002<\/p>\n\n\n\n

1952\u5e74\uff0c\u8afe\u8c9d\u723e\u7d93\u6fdf\u5b78\u734e\u5f97\u4e3b\u54c8\u5229\u00b7\u99ac\u53ef\u7dad\u8332 (Harry Markowitz) \u63d0\u51fa\u4e86\u73fe\u4ee3\u6295\u8cc7\u7d44\u5408\u7406\u8ad6 (Modern Portfolio Theory, MPT \u6216 MVO\u6a21\u578b)\u3002\u9019\u4e00\u7406\u8ad6\u9996\u6b21\u4ee5\u6578\u5b78\u7684\u65b9\u5f0f\u8b49\u660e\u4e86\u591a\u5143\u5316\u7684\u50f9\u503c\uff1a\u7576\u6295\u8cc7\u7d44\u5408\u4e2d\u5f15\u5165\u5f7c\u6b64\u76f8\u95dc\u6027\u4f4e\u7684\u65b0\u8cc7\u7522\u6642\uff0c\u53ef\u4ee5\u5728\u7dad\u6301\u6295\u8cc7\u5831\u916c\u7684\u540c\u6642\uff0c\u6709\u6548\u964d\u4f4e\u6574\u9ad4\u98a8\u96aa\u3002<\/p>\n\n\n\n

\u99ac\u53ef\u7dad\u8332\u5f37\u8abf\uff0c\u6295\u8cc7\u4eba\u61c9\u4ee5\u6574\u9ad4\u7d44\u5408\u7684\u89d2\u5ea6\u4f86\u601d\u8003\uff0c\u800c\u975e\u5c07\u6bcf\u4e00\u500b\u8cc7\u7522\u500b\u5225\u770b\u5f85\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u4e0d\u540c\u8cc7\u7522\u7684\u50f9\u683c\u6ce2\u52d5\u5728\u5e02\u5834\u8b8a\u5316\u4e2d\u53ef\u80fd\u6703\u5448\u73fe\u4e0d\u540c\u7684\u8d70\u52e2\uff0c\u900f\u904e\u5c07\u9019\u4e9b\u8cc7\u7522\u7d0d\u5165\u540c\u4e00\u7d44\u5408\uff0c\u6295\u8cc7\u4eba\u53ef\u4ee5\u5229\u7528\u8cc7\u7522\u4e4b\u9593\u7684\u4f4e\u76f8\u95dc\u6027\u4f86\u62b5\u6d88\u5f7c\u6b64\u7684\u6ce2\u52d5\uff0c\u9054\u5230\u5206\u6563\u98a8\u96aa\u7684\u6548\u679c\u3002\u4f8b\u5982\uff0c\u5728\u80a1\u7968\u5e02\u5834\u52d5\u76ea\u6642\uff0c\u50b5\u5238\u6216\u9ec3\u91d1\u7b49\u975e\u76f8\u95dc\u8cc7\u7522\u7684\u8868\u73fe\u53ef\u80fd\u66f4\u7a69\u5b9a\uff0c\u5f9e\u800c\u6e1b\u5c11\u6295\u8cc7\u7d44\u5408\u7684\u6574\u9ad4\u6ce2\u52d5\u3002<\/p>\n\n\n\n

\u6b63\u5982\u99ac\u53ef\u7dad\u8332\u6240\u8a00\uff1a\u300c\u6295\u8cc7\u4e2d\u78ba\u5be6\u5b58\u5728\u514d\u8cbb\u7684\u5348\u9910\u300d\uff0c\u9019\u4efd\u5348\u9910\u6b63\u662f\u4f86\u81ea\u65bc\u591a\u5143\u5316\u7684\u529b\u91cf\u3002\u7576\u6295\u8cc7\u4eba\u63a1\u53d6\u591a\u5143\u5316\u7b56\u7565\u6642\uff0c\u4ed6\u5011\u53ef\u4ee5\u5728\u4e0d\u72a7\u7272\u9577\u671f\u56de\u5831\u7684\u524d\u63d0\u4e0b\uff0c\u6709\u6548\u964d\u4f4e\u6295\u8cc7\u98a8\u96aa\u3002\u9019\u4e00\u89c0\u5ff5\u6210\u70ba\u91d1\u878d\u9818\u57df\u7684\u91cd\u8981\u91cc\u7a0b\u7891\uff0c\u4e26\u6210\u70ba\u4e86\u8a31\u591a\u8cc7\u7522\u7ba1\u7406\u7b56\u7565\u7684\u6838\u5fc3\u57fa\u77f3\u3002\u4e8b\u5be6\u4e0a\uff0c\u4eca\u5929\u7684\u5404\u985e\u57fa\u91d1\u548cETF\uff0c\u7121\u8ad6\u662f\u6307\u6578\u578b\u9084\u662f\u4e3b\u52d5\u578b\uff0c\u90fd\u4ee5\u6b64\u7406\u8ad6\u70ba\u57fa\u790e\u4f86\u8a2d\u8a08\uff0c\u5f37\u8abf\u900f\u904e\u591a\u5143\u5316\u4f86\u63d0\u5347\u9577\u671f\u7a69\u5b9a\u6027\u548c\u6297\u98a8\u96aa\u80fd\u529b\u3002<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\n\n\n\n

\u4e0a\u5716\u70ba\u53f0\u7063\u4e00\u4e9b\u5927\u516c\u53f8\u5f9e2014\/11 \u2013 2024\/10 (10\u5e74) \u7684\u5e74\u5316\u5831\u916c\u8207\u98a8\u96aa\u4e4b\u9593\u7684\u6563\u4f48\u5716\u3002<\/p>\n\n\n\n

\u5f9e\u5716\u4e2d\u53ef\u4ee5\u770b\u5230\uff0c\u7531\u53f0\u7063\u524d50\u5927\u4e0a\u5e02\u516c\u53f8\u7d44\u6210\u7684 0050 ETF<\/strong> \u5728\u904e\u53bb11\u5e74\u7684\u8868\u73fe\u4e2d\uff0c\u4e0d\u50c5\u9054\u5230\u4e86\u7a69\u5b9a\u7684\u5e74\u5316\u5831\u916c\uff0c\u4e14\u98a8\u96aa\u76f8\u5c0d\u8f03\u4f4e\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u67d0\u4e9b\u516c\u53f8\u7684\u5831\u916c\u96d6\u6709\u4e00\u5b9a\u6c34\u6e96\uff0c\u4f46\u98a8\u96aa\u660e\u986f\u8f03\u9ad8\u3002\u9019\u6070\u6070\u9ad4\u73fe\u4e86\u6295\u8cc7\u7d44\u5408\u7406\u8ad6\u7684\u7cbe\u9ad3\uff1a\u63a1\u7528\u591a\u5143\u5316\u7b56\u7565\uff0c\u900f\u904e\u6db5\u84cb\u591a\u500b\u884c\u696d\u548c\u516c\u53f8\u7684\u6295\u8cc7\u7d44\u5408\u8a2d\u8a08\uff0c\u53ef\u4ee5\u6709\u6548\u964d\u4f4e\u6ce2\u52d5\u6027\uff0c\u4e26\u7dad\u6301\u7a69\u5065\u7684\u9577\u671f\u56de\u5831\u3002<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\n\n\n\n

\u6211\u5011\u5f9e\u7f8e\u570b\u7684\u6578\u64da\u4f86\u770b\uff0c\u4e00\u6a23\u662f\u5f9e2014\/11 \u2013 2024\/10 (10\u5e74) \u7684\u5e74\u5316\u5831\u916c\u8207\u98a8\u96aa\u4e4b\u9593\u7684\u6563\u4f48\u5716\u3002\u5728\u9019\u6bb5\u671f\u9593\u5167\uff0cS&P 500 \u6307\u6578<\/strong>\u4e0d\u50c5\u63d0\u4f9b\u4e86\u9ad8\u65bc\u67d0\u4e9b\u500b\u9ad4\u516c\u53f8\u7684\u5831\u916c\uff0c\u800c\u4e14\u98a8\u96aa\u4e5f\u76f8\u5c0d\u8f03\u4f4e\u3002\u9019\u6b78\u529f\u65bcS&P 500\u4e2d\u6240\u5305\u542b\u7684\u591a\u5143\u5316\u8cc7\u7522\u7d44\u5408\uff0c\u4f7f\u5176\u5728\u9762\u5c0d\u5e02\u5834\u6ce2\u52d5\u6642\u5177\u6709\u66f4\u5f37\u7684\u7a69\u5b9a\u6027\u3002\u9019\u7a2e\u591a\u5143\u5316\u7b56\u7565\u7684\u61c9\u7528\u4f7f\u5f97\u6295\u8cc7\u4eba\u80fd\u5920\u4eab\u53d7\u5230\u5206\u6563\u98a8\u96aa\u7684\u597d\u8655\uff0c\u6b63\u5982\u99ac\u53ef\u7dad\u8332\u6240\u5f37\u8abf\u7684\u300c\u514d\u8cbb\u7684\u5348\u9910\u300d\u3002<\/p>\n\n\n\n

\u4e0d\u8ad6\u662f\u5728\u53f0\u7063\u9084\u662f\u7f8e\u570b\u5e02\u5834\uff0c\u9019\u5169\u5f35\u5716\u90fd\u660e\u78ba\u5c55\u793a\u4e86\u591a\u5143\u5316\u6295\u8cc7\u7684\u512a\u52e2\u3002\u7121\u8ad6\u662f0050 ETF<\/strong>\u9084\u662fS&P 500 \u6307\u6578<\/strong>\uff0c\u90fd\u901a\u904e\u6db5\u84cb\u591a\u500b\u4e0d\u540c\u884c\u696d\u548c\u516c\u53f8\u7684\u65b9\u5f0f\uff0c\u6709\u6548\u5206\u6563\u4e86\u98a8\u96aa\uff0c\u540c\u6642\u4fdd\u6301\u4e86\u76f8\u5c0d\u7a69\u5065\u7684\u9577\u671f\u56de\u5831\u3002\u9019\u6b63\u662f\u73fe\u4ee3\u6295\u8cc7\u7d44\u5408\u7406\u8ad6\u7684\u6838\u5fc3\u7406\u5ff5\uff0c\u5373\u5728\u4e0d\u640d\u5931\u56de\u5831\u7684\u524d\u63d0\u4e0b\u964d\u4f4e\u98a8\u96aa\uff0c\u8b93\u6295\u8cc7\u4eba\u53ef\u4ee5\u5728\u8b8a\u5e7b\u83ab\u6e2c\u7684\u5e02\u5834\u4e2d\u4fdd\u6301\u7a69\u5b9a\u7684\u589e\u9577\u3002<\/p>\n\n\n\n

\u8dd1\u5f97\u8d8a\u5feb\uff0c\u6454\u5f97\u8d8a\u91cd\uff0c\u5982\u679c\u4f60\u771f\u7684\u60f3\u8981\u505a\u597d\u9577\u671f\u6295\u8cc7\uff0c\u4f60\u5c31\u662f\u8981\u9078\u64c7\u505a\u5230\u5ee3\u6cdb\u5206\u6563\u7684\u6295\u8cc7\u7d44\u5408\uff0c\u900f\u904e\u99ac\u53ef\u7dad\u8328\u7684\u73fe\u4ee3\u6295\u8cc7\u7d44\u5408\u7406\u8ad6\uff0c\u4eab\u53d7\u9019\u500b\u300c\u514d\u8cbb\u7684\u5348\u9910\u300d\uff0c\u8b93\u4f60\u5728\u98a8\u96aa\u8207\u5831\u916c\u4e0a\u62ff\u634f\u66f4\u597d\u7684\u5e73\u8861\uff0c\u4e5f\u8b93\u4f60\u53ef\u4ee5\u4fdd\u6301\u9577\u671f\u6295\u8cc7\u7684\u7fd2\u6163\uff0c\u900f\u904e\u8907\u5229\u6548\u679c\uff0c\u7d2f\u7a4d\u9577\u671f\u8ca1\u5bcc\u3002<\/p>\n\n\n\n

<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

\u5728\u8207\u8a31\u591a\u6295\u8cc7\u4eba\u4ea4\u6d41\u7684\u904e\u7a0b\u4e2d\uff0c\u6211\u767c\u73fe\u5927\u5bb6\u5176\u5be6\u90fd\u660e\u767d\u9577\u671f\u6295\u8cc7\u7684\u91cd\u8981\u6027\uff0c\u4e5f\u5f88\u60f3\u505a\u5230\u3002\u4f46\u7576\u771f\u6b63\u9047\u5230\u77ed\u671f\u5e02\u5834\u4e0b\u8dcc\u6642\uff0c\u60c5\u6cc1 […]<\/p>\n","protected":false},"author":5,"featured_media":12125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29,10],"tags":[],"class_list":["post-1520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-29","category-10"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/1520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1520"}],"version-history":[{"count":0,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/1520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/media\/12125"}],"wp:attachment":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}