{"id":1523,"date":"2021-05-24T10:15:00","date_gmt":"2021-05-24T02:15:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1523"},"modified":"2026-10-27T10:13:06","modified_gmt":"2026-10-27T02:13:06","slug":"%e9%95%b7%e8%bc%a9%e7%9a%84%e6%8a%95%e8%b3%87%e6%98%af%e5%a6%82%e4%bd%95%e8%ae%8a%e6%88%90%e5%ae%b6%e4%b8%ad%e7%89%86%e4%b8%8a%e7%9a%84%e5%a3%81%e7%b4%99","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1523","title":{"rendered":"\u7cfb\u7d71\u6027\u98a8\u96aa\u662f\u4ec0\u9ebc\uff1f\u548c\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u5dee\u5728\u54ea\u3001\u600e\u9ebc\u5206\u6563"},"content":{"rendered":"<p class=\"wp-block-paragraph\">\u7cfb\u7d71\u6027\u98a8\u96aa\uff08systematic risk\uff09\u662f\u6574\u500b\u5e02\u5834\u4e00\u8d77\u627f\u53d7\u7684\u98a8\u96aa\uff0c\u4f8b\u5982\u75ab\u60c5\u3001\u5347\u606f\u3001\u91d1\u878d\u5371\u6a5f\uff0c\u6301\u6709\u518d\u591a\u6a94\u80a1\u7968\u4e5f\u7121\u6cd5\u5206\u6563\uff0c\u53c8\u7a31\u5e02\u5834\u98a8\u96aa\u6216\u4e0d\u53ef\u5206\u6563\u98a8\u96aa\uff1b\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\uff08unsystematic risk\uff09\u662f\u55ae\u4e00\u516c\u53f8\u6216\u55ae\u4e00\u7522\u696d\u7279\u6709\u7684\u98a8\u96aa\uff0c\u4f8b\u5982\u5de5\u5ee0\u706b\u8b66\u3001\u7522\u54c1\u88ab\u53d6\u4ee3\uff0c\u53ef\u4ee5\u9760\u6301\u6709\u591a\u6a94\u6027\u8cea\u4e0d\u540c\u7684\u8cc7\u7522\u5206\u6563\uff0c\u53c8\u7a31\u500b\u5225\u98a8\u96aa\u6216\u53ef\u5206\u6563\u98a8\u96aa\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7528\u7f8e\u98df\u8857\u4f86\u6bd4\u55bb\uff0c\u4e00\u6524\u98df\u6750\u51fa\u554f\u984c\uff0c\u63db\u4e00\u6524\u5403\u5c31\u597d\uff0c\u9019\u662f\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\uff1b\u6574\u68df\u5927\u6a13\u505c\u96fb\uff0c\u6bcf\u4e00\u6524\u90fd\u4e00\u8d77\u95dc\u9580\uff0c\u9019\u662f\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u5728\u540c\u4e00\u68df\u6a13\u88e1\u591a\u5403\u5e7e\u6524\uff0c\u8eb2\u4e0d\u6389\u505c\u96fb\u3002<\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u6295\u8cc7\u4eba\u80fd\u505a\u7684\uff0c\u662f\u7528\u5206\u6563\u628a\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u964d\u5230\u5f88\u4f4e\uff0c\u518d\u7528\u8cc7\u7522\u914d\u7f6e\u6c7a\u5b9a\u81ea\u5df1\u8981\u627f\u64d4\u591a\u5c11\u7cfb\u7d71\u6027\u98a8\u96aa\u3002<\/strong><\/p>\n\n<h2 class=\"wp-block-heading\">\u7cfb\u7d71\u6027\u98a8\u96aa vs \u975e\u7cfb\u7d71\u6027\u98a8\u96aa\uff1a\u6bd4\u8f03\u8868<\/h2>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u9805\u76ee<\/th>\n<th>\u7cfb\u7d71\u6027\u98a8\u96aa<\/th>\n<th>\u975e\u7cfb\u7d71\u6027\u98a8\u96aa<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u5b9a\u7fa9<\/td>\n<td>\u5f71\u97ff\u6574\u500b\u5e02\u5834\u7684\u98a8\u96aa<\/td>\n<td>\u55ae\u4e00\u516c\u53f8\u6216\u7522\u696d\u7279\u6709\u7684\u98a8\u96aa<\/td>\n<\/tr>\n<tr>\n<td>\u5225\u540d<\/td>\n<td>\u5e02\u5834\u98a8\u96aa\u3001\u4e0d\u53ef\u5206\u6563\u98a8\u96aa<\/td>\n<td>\u500b\u5225\u98a8\u96aa\u3001\u516c\u53f8\u7279\u6709\u98a8\u96aa\u3001\u53ef\u5206\u6563\u98a8\u96aa<\/td>\n<\/tr>\n<tr>\n<td>\u4f8b\u5b50<\/td>\n<td>\u75ab\u60c5\u3001\u5229\u7387\u8b8a\u52d5\u3001\u901a\u81a8\u3001\u91d1\u878d\u5371\u6a5f\u3001\u6230\u722d<\/td>\n<td>\u5de5\u5ee0\u706b\u8b66\u3001\u8ca1\u5831\u4e0d\u5982\u9810\u671f\u3001\u7d93\u71df\u5c64\u51fa\u4e8b\u3001\u7522\u696d\u88ab\u65b0\u6280\u8853\u53d6\u4ee3<\/td>\n<\/tr>\n<tr>\n<td>\u80fd\u4e0d\u80fd\u9760\u5206\u6563\u6d88\u9664<\/td>\n<td>\u4e0d\u80fd\uff1b\u5168\u7403\u5206\u6563\u4e5f\u53ea\u80fd\u964d\u4f4e\u55ae\u4e00\u570b\u5bb6\u7684\u90e8\u5206<\/td>\n<td>\u53ef\u4ee5\uff1b\u6301\u80a1\u6a94\u6578\u8207\u7522\u696d\u8d8a\u5206\u6563\uff0c\u5f71\u97ff\u8d8a\u5c0f<\/td>\n<\/tr>\n<tr>\n<td>\u600e\u9ebc\u8655\u7406<\/td>\n<td>\u8cc7\u7522\u914d\u7f6e\uff1a\u80a1\u50b5\u6bd4\u4f8b\u3001\u6295\u8cc7\u671f\u9593\u3001\u570b\u969b\u5206\u6563<\/td>\n<td>\u5206\u6563\u6301\u80a1\uff1a\u591a\u6a94\u80a1\u7968\u3001\u591a\u500b\u7522\u696d\uff0c\u6216\u7528\u6307\u6578\u5316\u5de5\u5177\u4e00\u6b21\u6301\u6709<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u5169\u8005\u7684\u5dee\u5225\u5728\u5f71\u97ff\u7bc4\u570d\uff0c\u4e00\u5bb6\u516c\u53f8\u51fa\u4e8b\uff0c\u53d7\u5f71\u97ff\u7684\u53ea\u6709\u6301\u6709\u5b83\u7684\u4eba\uff0c\u53ef\u4ee5\u9760\u5206\u6563\u907f\u958b\uff1b\u6574\u500b\u5e02\u5834\u51fa\u4e8b\uff0c\u6301\u6709\u4ec0\u9ebc\u90fd\u8eb2\u4e0d\u6389\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5206\u6e05\u695a\u9019\u5169\u7a2e\u98a8\u96aa\uff0c\u63a5\u8457\u8981\u6c7a\u5b9a\u7684\u662f\u5206\u6563\u5230\u4ec0\u9ebc\u7a0b\u5ea6\u3001\u80a1\u7968\u548c\u50b5\u5238\u5404\u653e\u591a\u5c11\uff0c\u4e5f\u5c31\u662f\u8cc7\u7522\u914d\u7f6e\uff0c\u4f9d\u5e74\u9f61\u8207\u6295\u8cc7\u671f\u9593\u7684\u914d\u6cd5\u898b<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=840\">\u8cc7\u7522\u914d\u7f6e\u662f\u4ec0\u9ebc\uff1f\u4f9d\u5e74\u9f61\u8207\u6295\u8cc7\u671f\u9593\u7684\u914d\u7f6e\u5c0d\u7167\u8868<\/a>\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\uff1a\u4e00\u5bb6\u516c\u53f8\u51fa\u4e8b\uff0c\u5927\u76e4\u5e7e\u4e4e\u4e0d\u52d5<\/h2>\n\n<p class=\"wp-block-paragraph\">\u5f88\u591a\u4eba\u807d\u904e\u9577\u8f29\u7684\u6545\u4e8b\uff0c\u624b\u908a\u6709\u4e00\u7b46\u9592\u9322\uff0c\u807d\u670b\u53cb\u8aaa\u67d0\u5bb6\u516c\u53f8\u4eca\u5e74\u8cfa\u5f88\u591a\u3001\u524d\u666f\u770b\u597d\uff0c\u4e00\u53e3\u6c23\u5168\u90e8\u8cb7\u9032\uff0c\u5e7e\u500b\u6708\u5f8c\u80a1\u50f9\u4e00\u8def\u4e0b\u8dcc\uff0c\u7576\u521d\u7684\u672c\u91d1\u7e2e\u6c34\u5927\u534a\uff0c\u80a1\u7968\u6210\u4e86\u300c\u58c1\u7d19\u300d\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6574\u7b46\u9322\u53ea\u62bc\u4e00\u6524\uff0c\u90a3\u4e00\u6524\u51fa\u4e8b\uff0c\u9019\u9813\u98ef\u5c31\u6c92\u4e86\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">2020 \u5e74\u7684\u6b23\u8208\u96fb\u5b50\uff083037\uff09\u662f\u4e00\u500b\u771f\u5be6\u4f8b\u5b50\uff0c10 \u6708 28 \u65e5\u4e0b\u5348\uff0c\u6b23\u8208\u6843\u5712\u5c71\u9daf\u5ee0\u5340\u7684 CSP \u5ee0\u767c\u751f\u706b\u8b66\uff0c\u6d88\u606f\u5728\u4e0b\u5348 3 \u9ede\u534a\u5f8c\u9678\u7e8c\u50b3\u51fa<sup>[9]<\/sup>\uff0c\u516c\u53f8\u8868\u793a\u8a72\u5ee0\u6708\u71df\u6536\u7d04\u5360\u96c6\u5718\u5408\u4f75\u71df\u6536 6%\uff0c\u4e26\u6709\u6295\u4fdd\u8ca1\u7522\u96aa\u8207\u71df\u904b\u4e2d\u65b7\u96aa<sup>[1]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6b23\u8208 10 \u6708 27 \u65e5\u6536\u76e4 81.60 \u5143\uff0c28 \u65e5\u6536 74.90 \u5143\uff0c\u7576\u5929\u706b\u8b66\u6d88\u606f\u50b3\u51fa\u6642\u5df2\u7d93\u6536\u76e4\uff0c29 \u65e5\u518d\u8dcc\u5230 67.90 \u5143\uff0c\u540c\u671f\u52a0\u6b0a\u6307\u6578\u5f9e 12,875.01 \u9ede\u5230 12,793.75 \u9ede\u300112,662.91 \u9ede<sup>[2][3]<\/sup>\uff0c\u5169\u5929\u4e0b\u4f86\u6b23\u8208\u7d2f\u8a08\u4e0b\u8dcc 16.79%\uff0c\u52a0\u6b0a\u6307\u6578\u53ea\u8dcc 1.65%\uff0c\u4e00\u6a94\u500b\u80a1\u8dcc\u6389\u7d04\u516d\u5206\u4e4b\u4e00\uff0c\u5c0d\u6574\u9ad4\u53f0\u80a1\u7684\u5f71\u97ff\u6709\u9650\uff0c\u9019\u5c31\u662f\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u5178\u578b\u6a23\u8c8c\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/1523_\u6b23\u8208\u706b\u8b66\u55ae\u65e5\u6f32\u8dcc.png\" alt=\"2020 \u5e74 10 \u6708 28\u300129 \u65e5\u8207\u5169\u65e5\u7d2f\u8a08\uff0c\u6b23\u8208\u5206\u5225\u4e0b\u8dcc 8.21%\u30019.35%\u300116.79%\uff0c\u52a0\u6b0a\u6307\u6578\u5206\u5225\u4e0b\u8dcc 0.63%\u30011.02%\u30011.65% \u7684\u5206\u7d44\u9577\u689d\u5716\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1a\u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\uff0c\u500b\u80a1\u65e5\u6210\u4ea4\u8cc7\u8a0a\u8207\u767c\u884c\u91cf\u52a0\u6b0a\u80a1\u50f9\u6307\u6578\u6b77\u53f2\u8cc7\u6599 [2][3] \u3002<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u7522\u696d\u4e5f\u6709\u540c\u6a23\u7684\u4e8b\uff0c\u9304\u5f71\u5e36\u8207 DVD \u51fa\u79df\u5e97\u9047\u4e0a\u7db2\u8def\u4e32\u6d41\uff0c\u696d\u7e3e\u5feb\u901f\u4e0b\u6ed1\uff0c\u5be6\u9ad4\u9580\u5e02\u4e00\u9593\u9593\u6536\u6389\uff0c\u5c0d\u6301\u6709\u51fa\u79df\u696d\u8005\u80a1\u7968\u7684\u6295\u8cc7\u4eba\u4f86\u8aaa\uff0c\u662f\u6574\u500b\u7522\u696d\u88ab\u53d6\u4ee3\uff08\u6574\u6392\u540c\u4e00\u7a2e\u6599\u7406\u7684\u6524\u4f4d\uff0c\u4e00\u8d77\u88ab\u5916\u9001\u5e73\u53f0\u53d6\u4ee3\u7684\u611f\u89ba\uff09\uff0c\u53ea\u6301\u6709\u4e00\u5bb6\u516c\u53f8\u6216\u4e00\u500b\u7522\u696d\uff0c\u6295\u8cc7\u7d50\u679c\u5c31\u8ddf\u5b83\u7d81\u5728\u4e00\u8d77\u3002<\/p>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-mid alpha-cta-alloc has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-left-color:#006ece;border-left-width:4px;background-color:#f3f7fb;padding:16px 20px\">\n<p class=\"wp-block-paragraph\"><strong>\u60f3\u77e5\u9053\u9019\u6a23\u7684\u914d\u7f6e\u9069\u4e0d\u9069\u5408\u4f60\u7684\u76ee\u6a19\u8207\u671f\u9593\uff1f<\/strong><\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-left is-layout-flex wp-container-core-buttons-is-layout-7b4500cd wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/roboadvisor.com.tw\/portfolio-calculator\/?Camp=Blog\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u514d\u8cbb\u8a66\u7b97\u6211\u7684\u6295\u8cc7\u7d44\u5408<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">\u6301\u80a1\u5e7e\u6a94\u624d\u5920\u5206\u6563\uff1f\u5169\u4efd\u7d93\u5178\u7814\u7a76<\/h2>\n\n<p class=\"wp-block-paragraph\">\u6301\u80a1\u6a94\u6578\u589e\u52a0\uff0c\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u6703\u4e0b\u964d\uff0c\u5047\u8a2d\u6295\u8cc7\u7d44\u5408\u5e73\u5747\u6295\u8cc7\u5728 n \u6a94\u80a1\u7968\u4e0a\uff0c\u7d44\u5408\u7684\u8b8a\u7570\u6578\uff08\u98a8\u96aa\u7684\u5e73\u65b9\uff09\u7531\u5169\u90e8\u5206\u7d44\u6210<sup>[4]<\/sup>\uff1a<\/p>\n\n<p class=\"wp-block-paragraph\">\u7d44\u5408\u8b8a\u7570\u6578 \uff1d \u500b\u80a1\u4e4b\u9593\u7684\u5e73\u5747\u5171\u8b8a\u7570\u6578 \uff0b\uff08\u500b\u80a1\u5e73\u5747\u8b8a\u7570\u6578 \u2212 \u5e73\u5747\u5171\u8b8a\u7570\u6578\uff09\u00f7 n<\/p>\n\n<p class=\"wp-block-paragraph\">\u524d\u4e00\u9805\u662f\u500b\u80a1\u4e00\u8d77\u6f32\u8dcc\u7684\u90e8\u5206\uff0cn \u518d\u5927\u4e5f\u6703\u7559\u4e0b\u4f86\uff0c\u9019\u5c31\u662f\u7cfb\u7d71\u6027\u98a8\u96aa\uff1b\u5f8c\u4e00\u9805\u662f\u500b\u5225\u98a8\u96aa\uff0cn \u8d8a\u5927\u8d8a\u5c0f\uff0cn \u8da8\u8fd1\u7121\u9650\u5927\u6642\u6d88\u5931\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u4ee3\u5165\u4e00\u7d44\u5047\u8a2d\uff0c\u6bcf\u6a94\u80a1\u7968\u5e74\u5316\u6ce2\u52d5\u5ea6 40%\u3001\u4efb\u5169\u6a94\u4e4b\u9593\u7684\u76f8\u95dc\u4fc2\u6578 0.25\uff0c\u53ef\u4ee5\u770b\u51fa\u98a8\u96aa\u96a8\u6a94\u6578\u4e0b\u964d\u7684\u5f62\u72c0\uff08\u8a66\u7b97\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u5be6\u969b\u5e02\u5834\uff09\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u6301\u80a1\u6a94\u6578<\/th>\n<th>\u7d44\u5408\u6ce2\u52d5\u5ea6\uff08\u8a66\u7b97\uff09<\/th>\n<th>\u5176\u4e2d\u500b\u5225\u98a8\u96aa\u5360\u8b8a\u7570\u6578\u6bd4\u91cd<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1<\/td>\n<td>40.0%<\/td>\n<td>75%<\/td>\n<\/tr>\n<tr>\n<td>2<\/td>\n<td>31.6%<\/td>\n<td>60%<\/td>\n<\/tr>\n<tr>\n<td>5<\/td>\n<td>25.3%<\/td>\n<td>38%<\/td>\n<\/tr>\n<tr>\n<td>10<\/td>\n<td>22.8%<\/td>\n<td>23%<\/td>\n<\/tr>\n<tr>\n<td>20<\/td>\n<td>21.4%<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>30<\/td>\n<td>21.0%<\/td>\n<td>9%<\/td>\n<\/tr>\n<tr>\n<td>100<\/td>\n<td>20.3%<\/td>\n<td>3%<\/td>\n<\/tr>\n<tr>\n<td>\u7121\u9650\u591a<\/td>\n<td>20.0%<\/td>\n<td>0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u8a66\u7b97\u5047\u8a2d\uff1a\u7b49\u6b0a\u91cd\u3001\u500b\u80a1\u6ce2\u52d5\u5ea6 40%\u3001\u5e73\u5747\u76f8\u95dc\u4fc2\u6578 0.25\uff08\u5e73\u5747\u5171\u8b8a\u7570\u6578 0.04\uff09\uff1b\u7d44\u5408\u6ce2\u52d5\u5ea6 \uff1d \u221a\uff080.04 \uff0b 0.12 \u00f7 n\uff09\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/1523_\u6301\u80a1\u6a94\u6578\u8207\u98a8\u96aa.png\" alt=\"\u6301\u80a1\u6a94\u6578\u5f9e 1 \u6a94\u589e\u52a0\u5230 100 \u6a94\uff0c\u8a66\u7b97\u7d44\u5408\u6ce2\u52d5\u5ea6\u5f9e 40% \u964d\u5230\u63a5\u8fd1 20% \u7684\u7cfb\u7d71\u6027\u98a8\u96aa\u4e0b\u9650\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aMarkowitz\uff081952\uff09\u7d44\u5408\u8b8a\u7570\u6578\u516c\u5f0f [4] \uff1b\u963f\u723e\u767c\u6295\u8cc7\u7814\u7a76\u5718\u968a\u8a66\u7b97\uff08\u5047\u8a2d\u540c\u4e0a\u8868\uff09\u3002<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u6301\u80a1\u5f9e 1 \u6a94\u589e\u52a0\u5230 10 \u6a94\uff0c\u6ce2\u52d5\u5ea6\u964d\u4e86\u56db\u6210\u591a\uff0c30 \u6a94\u4e4b\u5f8c\u518d\u52a0\u80a1\u7968\u5e7e\u4e4e\u6c92\u6709\u6548\u679c\uff0c\u6700\u5f8c\u5269\u4e0b\u7684 20% \u5c31\u662f\u5206\u6563\u4e0d\u6389\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u6524\u4f4d\u5403\u5f97\u518d\u591a\uff0c\u505c\u96fb\u90a3\u4e00\u4efd\u9084\u5728\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5b78\u8853\u7814\u7a76\u5c0d\u300c\u5e7e\u6a94\u624d\u5920\u300d\u6709\u5169\u500b\u5e38\u88ab\u5f15\u7528\u7684\u7b54\u6848\uff0cEvans \u8207 Archer\uff081968\uff09\u7528\u7d10\u7d04\u8b49\u4ea4\u6240\u80a1\u7968\u96a8\u6a5f\u7d44\u6210\u6295\u8cc7\u7d44\u5408\uff0c\u767c\u73fe\u7d44\u5408\u7684\u96e2\u6563\u7a0b\u5ea6\u5728\u6301\u80a1\u7d04 10 \u6a94\u4e4b\u5f8c\u4e0b\u964d\u5c31\u5f88\u6709\u9650\uff0c\u56e0\u6b64\u8cea\u7591\u518d\u589e\u52a0\u6a94\u6578\u7684\u6548\u76ca<sup>[5]<\/sup>\uff1bStatman\uff081987\uff09\u6539\u7528\u6210\u672c\u8207\u6548\u76ca\u6bd4\u8f03\uff0c\u8a8d\u70ba\u96a8\u6a5f\u6311\u9078\u7684\u80a1\u7968\u7d44\u5408\u81f3\u5c11\u8981 30 \u6a94\uff08\u53ef\u501f\u6b3e\u7684\u6295\u8cc7\u4eba\uff09\u5230 40 \u6a94\uff08\u4e0d\u501f\u6b3e\u7684\u6295\u8cc7\u4eba\uff09\uff0c\u624d\u7b97\u5145\u5206\u5206\u6563<sup>[6]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5169\u4efd\u7814\u7a76\u7684\u7d50\u8ad6\u4e0d\u540c\uff0c\u5171\u540c\u9ede\u662f\u500b\u80a1\u6a94\u6578\u4e00\u65e6\u5920\u591a\uff0c\u518d\u52a0\u80a1\u7968\u5e7e\u4e4e\u964d\u4e0d\u4e86\u98a8\u96aa\uff0c\u5269\u4e0b\u7684\u98a8\u96aa\u8981\u9760\u8de8\u8cc7\u7522\u3001\u8de8\u570b\u5bb6\u7684\u914d\u7f6e\u8655\u7406\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u7cfb\u7d71\u6027\u98a8\u96aa\uff1a\u5168\u5e02\u5834\u4e00\u8d77\u8dcc\uff0c\u5206\u6563\u4e5f\u8eb2\u4e0d\u6389<\/h2>\n\n<p class=\"wp-block-paragraph\">\u7cfb\u7d71\u6027\u98a8\u96aa\u4f86\u81ea\u6574\u9ad4\u7d93\u6fdf\u8207\u91d1\u878d\u74b0\u5883\uff0c\u4f8b\u5982\u75ab\u60c5\u3001\u5229\u7387\u653f\u7b56\u3001\u901a\u81a8\u3001\u80fd\u6e90\u5371\u6a5f\u3001\u653f\u6b0a\u66f4\u66ff\u8207\u5927\u578b\u5929\u707d\uff0c\u5b83\u767c\u751f\u6642\uff0c\u53d7\u5f71\u97ff\u7684\u4e0d\u53ea\u4e00\u5bb6\u516c\u53f8\u6216\u4e00\u500b\u7522\u696d\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">2020 \u5e74\u65b0\u51a0\u75ab\u60c5\u7206\u767c\uff0c\u52a0\u6b0a\u6307\u6578\u5f9e 2020 \u5e74 1 \u6708 14 \u65e5\u7684 12,179.81 \u9ede\uff0c\u8dcc\u5230 3 \u6708 19 \u65e5\u7684 8,681.34 \u9ede\uff0c\u5169\u500b\u6708\u8dcc\u4e86 28.72%<sup>[3]<\/sup>\uff0c\u4e0d\u7ba1\u6301\u6709\u5e7e\u5341\u6a94\u53f0\u80a1\uff0c\u540c\u671f\u9593\u5e7e\u4e4e\u90fd\u4e00\u8d77\u4e0b\u8dcc\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5229\u7387\u4e5f\u662f\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u5229\u7387\u4e0a\u5347\u6642\uff0c\u4f01\u696d\u501f\u9322\u7684\u6210\u672c\u589e\u52a0\uff0c\u623f\u8cb8\u65cf\u7684\u5229\u606f\u8ca0\u64d4\u8b8a\u91cd\uff0c\u80a1\u7968\u8207\u50b5\u5238\u7684\u8a55\u50f9\u90fd\u6703\u53d7\u5f71\u97ff\uff0c\u885d\u64ca\u7684\u662f\u6574\u500b\u5e02\u5834\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5373\u4f7f\u5206\u6563\u5230\u5168\u7403\uff0c\u7cfb\u7d71\u6027\u98a8\u96aa\u4e5f\u9084\u5728\uff0cMSCI ACWI \u5168\u7403\u6307\u6578\u6db5\u84cb 47 \u500b\u5df2\u958b\u767c\u8207\u65b0\u8208\u5e02\u5834\u30012,414 \u6a94\u80a1\u7968\uff0c\u5f9e 2007 \u5e74 10 \u6708 31 \u65e5\u5230 2009 \u5e74 3 \u6708 9 \u65e5\u7684\u91d1\u878d\u6d77\u562f\u671f\u9593\uff0c\u6700\u5927\u56de\u64a4\u4ecd\u9054 58.38%\uff08\u7f8e\u5143\u8a08\u50f9\uff09<sup>[7]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u591a\u8cb7\u80a1\u7968\u964d\u4e0d\u4e86\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u80fd\u8655\u7406\u5b83\u7684\uff0c\u662f\u6c7a\u5b9a\u80a1\u7968\u653e\u591a\u5c11\u3001\u50b5\u5238\u8207\u5176\u4ed6\u8cc7\u7522\u653e\u591a\u5c11\uff0c\u4ee5\u53ca\u8cc7\u91d1\u8981\u653e\u591a\u4e45\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u53ea\u6295\u8cc7\u53f0\u80a1\uff0c\u4e5f\u662f\u4e00\u7a2e\u96c6\u4e2d<\/h2>\n\n<p class=\"wp-block-paragraph\">\u591a\u6578\u6295\u8cc7\u4eba\u8cb7\u6771\u897f\u6703\u9078\u719f\u6089\u7684\u54c1\u724c\uff0c\u6295\u8cc7\u4e5f\u4e00\u6a23\uff0c\u50be\u5411\u628a\u5927\u90e8\u5206\u8cc7\u91d1\u653e\u5728\u81ea\u5df1\u570b\u5bb6\u7684\u5e02\u5834\uff0c\u884c\u70ba\u8ca1\u52d9\u5b78\u7a31\u70ba\u300c\u672c\u570b\u504f\u8aa4\u300d\uff08home bias\uff09\uff0c\u6210\u56e0\u8207\u4ee3\u50f9\u898b<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=346\">\u672c\u570b\u504f\u8aa4\uff1a\u70ba\u4ec0\u9ebc\u6295\u8cc7\u4eba\u504f\u611b\u719f\u6089\u7684\u5e02\u5834<\/a>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u53f0\u80a1\u7684\u96c6\u4e2d\u6709\u5169\u5c64\uff0c\u7b2c\u4e00\u5c64\u662f\u55ae\u4e00\u570b\u5bb6\uff0c\u622a\u81f3 2026 \u5e74 9 \u6708 30 \u65e5\uff0c\u53f0\u7063\u5728 MSCI ACWI \u5168\u7403\u6307\u6578\u7684\u6b0a\u91cd\u662f 3.46%\uff0c\u65e5\u672c 5.2%<sup>[7]<\/sup>\uff0c\u8cc7\u91d1\u5168\u90e8\u653e\u5728\u53f0\u80a1\uff0c\u7b49\u65bc\u627f\u64d4\u53f0\u7063\u7279\u6709\u7684\u5929\u707d\u3001\u80fd\u6e90\u3001\u5730\u7de3\u653f\u6cbb\u8207\u7522\u696d\u7d50\u69cb\u98a8\u96aa\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7b2c\u4e8c\u5c64\u662f\u55ae\u4e00\u516c\u53f8\uff0c\u540c\u4e00\u5929\uff0c\u767c\u884c\u91cf\u52a0\u6b0a\u80a1\u50f9\u6307\u6578\u5171\u6709 1,071 \u6a94\u6210\u5206\u80a1\uff0c\u53f0\u7a4d\u96fb\u4e00\u5bb6\u7684\u5e02\u503c\u6bd4\u91cd\u5c31\u5360 41.12%\uff0c\u524d 5 \u5927\u5408\u8a08 53.57%<sup>[8]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c31\u7b97\u8cb7\u7684\u662f\u8ffd\u8e64\u53f0\u80a1\u5927\u76e4\u7684\u6307\u6578\u5546\u54c1\uff0c\u6301\u6709\u4e86\u4e0a\u5343\u6a94\u80a1\u7968\uff0c\u5831\u916c\u4ecd\u6709\u56db\u6210\u53d6\u6c7a\u65bc\u4e00\u5bb6\u516c\u53f8\u3001\u516d\u6210\u53d6\u6c7a\u65bc\u5341\u5bb6\u516c\u53f8\uff0c\u6a94\u6578\u5920\u591a\uff0c\u98a8\u96aa\u537b\u4e0d\u4e00\u5b9a\u771f\u7684\u5206\u6563\uff08\u7f8e\u98df\u8857\u6524\u4f4d\u5f88\u591a\uff0c\u56db\u6210\u7684\u71df\u696d\u984d\u537b\u4f86\u81ea\u540c\u4e00\u6524\uff09\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/1523_\u53f0\u80a1\u96c6\u4e2d\u5ea6.png\" alt=\"\u53f0\u7a4d\u96fb\u5360\u52a0\u6b0a\u6307\u6578 41.12%\u3001\u524d 10 \u5927\u5408\u8a08 59.83%\uff1b\u53f0\u7063\u5360 MSCI ACWI 3.46%\u3001\u7f8e\u570b 64.21% \u7684\u5169\u9762\u677f\u9577\u689d\u5716\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1a\u81fa\u7063\u671f\u8ca8\u4ea4\u6613\u6240\uff0c\u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\u767c\u884c\u91cf\u52a0\u6b0a\u80a1\u50f9\u6307\u6578\u6210\u5206\u80a1\u66a8\u5e02\u503c\u6bd4\u91cd [8] \uff1bMSCI ACWI Index factsheet [7] \uff1b\u8cc7\u6599\u65e5\u671f 2026 \u5e74 9 \u6708 30 \u65e5\u3002<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u628a\u4e00\u90e8\u5206\u8cc7\u7522\u653e\u5230\u7f8e\u570b\u3001\u6b50\u6d32\u3001\u65e5\u672c\u8207\u65b0\u8208\u5e02\u5834\uff0c\u53f0\u7063\u9047\u4e0a\u5730\u9707\u3001\u98b1\u98a8\u6216\u7522\u696d\u666f\u6c23\u4e0b\u884c\u6642\uff0c\u5176\u4ed6\u5730\u5340\u4e0d\u4e00\u5b9a\u540c\u6b65\uff0c\u6574\u9ad4\u6295\u8cc7\u7d44\u5408\u53d7\u5230\u7684\u885d\u64ca\u5c31\u6703\u6bd4\u8f03\u5c0f\uff0c\u50cf\u5728\u4e0d\u540c\u57ce\u5e02\u5404\u6709\u4e00\u5bb6\u7f8e\u98df\u8857\uff0c\u4e00\u68df\u505c\u96fb\uff0c\u5176\u4ed6\u68df\u7167\u5e38\u71df\u696d\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u9019\u662f\u570b\u969b\u5206\u6563\u80fd\u964d\u4f4e\u7684\u90a3\u4e00\u90e8\u5206\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u4e5f\u5c31\u662f\u55ae\u4e00\u570b\u5bb6\u7684\u98a8\u96aa\uff0c\u5168\u7403\u540c\u6b65\u4e0b\u8dcc\u7684\u90e8\u5206\uff0c\u4ecd\u8981\u9760\u80a1\u50b5\u6bd4\u4f8b\u8655\u7406\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u570b\u969b\u5206\u6563\u843d\u5230\u5be6\u969b\u7d44\u5408\uff0c\u5f9e 10 \u842c\u5230 100 \u842c\u5143\u5404\u6709\u4e00\u7d44\u80a1\u50b5\u5c0d\u7167\uff0c\u898b<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=14694\">\u6295\u8cc7\u7d44\u5408\u7bc4\u4f8b\uff1a10\u842c\u5230100\u842cETF\u600e\u9ebc\u914d\uff1f<\/a>\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u56de\u5230\u9577\u8f29\u7684\u58c1\u7d19<\/h2>\n\n<p class=\"wp-block-paragraph\">\u90a3\u4f4d\u628a\u5168\u90e8\u7a4d\u84c4\u62bc\u5728\u4e00\u6a94\u80a1\u7968\u7684\u9577\u8f29\uff0c\u627f\u64d4\u7684\u662f\u5169\u7a2e\u98a8\u96aa\u758a\u5728\u4e00\u8d77\uff0c\u4e00\u5bb6\u516c\u53f8\u7684\u547d\u904b\uff0c\u52a0\u4e0a\u6574\u500b\u53f0\u80a1\u7684\u6f32\u8dcc\uff0c\u524d\u4e00\u7a2e\u53ea\u8981\u6301\u80a1\u5920\u5206\u6563\u5c31\u80fd\u5927\u5e45\u964d\u4f4e\uff0c\u5f8c\u4e00\u7a2e\u8981\u9760\u570b\u969b\u5206\u6563\u8207\u80a1\u50b5\u6bd4\u4f8b\u4f86\u7ba1\u7406\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/1523_\u4e09\u5c64\u98a8\u96aa\u8207\u8655\u7406\u65b9\u5f0f.png\" alt=\"\u4e09\u5c64\u98a8\u96aa\u8207\u8655\u7406\u65b9\u5f0f\u793a\u610f\u5716\uff1a\u500b\u5225\u516c\u53f8\u8207\u7522\u696d\u98a8\u96aa\u7528\u5206\u6563\u6301\u80a1\u964d\u5230\u5f88\u4f4e\uff0c\u55ae\u4e00\u570b\u5bb6\u98a8\u96aa\u7528\u570b\u969b\u5206\u6563\u964d\u4f4e\uff0c\u5168\u7403\u5e02\u5834\u4e00\u8d77\u8dcc\u7684\u98a8\u96aa\u5206\u6563\u4e0d\u6389\uff0c\u53ea\u80fd\u7528\u80a1\u50b5\u6bd4\u4f8b\u8207\u6295\u8cc7\u671f\u9593\u6c7a\u5b9a\u627f\u64d4\u591a\u5c11\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1a\u963f\u723e\u767c\u6295\u8cc7\u7814\u7a76\u5718\u968a\u6574\u7406\uff1b\u4f8b\u5b50\u6578\u5b57\u53d6\u81ea\u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\u8207 MSCI ACWI Index factsheet [2][7] \u3002<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\"><strong>\u500b\u80a1\u98a8\u96aa\u9760\u5206\u6563\u6301\u80a1\uff0c\u55ae\u4e00\u570b\u5bb6\u98a8\u96aa\u9760\u570b\u969b\u5206\u6563\uff0c\u5168\u5e02\u5834\u4e00\u8d77\u8dcc\u7684\u98a8\u96aa\u9760\u80a1\u50b5\u6bd4\u4f8b\u3002<\/strong><\/p>\n\n<h2 class=\"wp-block-heading\">\u6211\u7684\u60f3\u6cd5<\/h2>\n\n<p class=\"wp-block-paragraph\">\u6211\u89ba\u5f97\u7cfb\u7d71\u6027\u98a8\u96aa\u548c\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u6700\u8a72\u5206\u6e05\u695a\u7684\u7406\u7531\uff0c\u662f\u5169\u7a2e\u98a8\u96aa\u7684\u8655\u7406\u65b9\u6cd5\u5b8c\u5168\u4e0d\u540c\uff0c\u7528\u932f\u65b9\u6cd5\uff0c\u518d\u52aa\u529b\u4e5f\u6c92\u6709\u7528\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u662f\u53ef\u4ee5\u300c\u514d\u8cbb\u300d\u964d\u4f4e\u7684\uff0c\u591a\u6301\u6709\u5e7e\u5341\u6a94\u3001\u8de8\u5e7e\u500b\u7522\u696d\uff0c\u98a8\u96aa\u5c31\u964d\u4e0b\u4f86\uff0c\u5831\u916c\u7684\u671f\u671b\u503c\u537b\u4e0d\u5fc5\u72a7\u7272\uff0c\u6240\u4ee5\u6211\u770b\u5230\u628a\u6574\u7b46\u9322\u62bc\u5728\u4e00\u6a94\u80a1\u7968\u4e0a\u7684\u505a\u6cd5\uff0c\u8aaa\u5be6\u5728\uff0c\u6703\u89ba\u5f97\u662f\u5728\u627f\u64d4\u4e00\u4efd\u6c92\u6709\u4eba\u4ed8\u9322\u7684\u98a8\u96aa\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7cfb\u7d71\u6027\u98a8\u96aa\u5c31\u4e0d\u4e00\u6a23\u4e86\uff0c\u5b83\u5206\u6563\u4e0d\u6389\uff0c\u627f\u64d4\u5b83\u624d\u662f\u9577\u671f\u5831\u916c\u7684\u4f86\u6e90\uff0c\u7562\u7adf\u80a1\u5e02\u9577\u671f\u5411\u4e0a\uff0c\u9760\u7684\u6b63\u662f\u6709\u4eba\u9858\u610f\u5750\u5728\u6574\u500b\u5e02\u5834\u88e1\u4e00\u8d77\u6f32\u8dcc\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u53f0\u80a1\u7684\u96c6\u4e2d\u5ea6\u662f\u6211\u6bd4\u8f03\u5728\u610f\u7684\u4e00\u9ede\uff0c\u53f0\u7a4d\u96fb\u5360\u52a0\u6b0a\u6307\u6578 41.12%\uff0c\u8cb7\u4e86\u5927\u76e4\uff0c\u5176\u5be6\u4e5f\u62bc\u4e86\u4e00\u5927\u4efd\u5728\u540c\u4e00\u5bb6\u516c\u53f8\uff0c\u9019\u4e0d\u662f\u8aaa\u53f0\u7a4d\u96fb\u4e0d\u597d\uff0c\u53ea\u662f\u5206\u6563\u7684\u611f\u89ba\u548c\u5be6\u969b\u7684\u5206\u6563\u4e4b\u9593\uff0c\u5dee\u4e86\u4e00\u6bb5\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7f8e\u98df\u8857\u53ef\u4ee5\u591a\u5403\u5e7e\u6524\uff0c\u505c\u96fb\u7684\u90a3\u4e00\u5929\uff0c\u80fd\u6c7a\u5b9a\u7684\u53ea\u6709\u81ea\u5df1\u5e36\u4e86\u591a\u5c11\u4e7e\u7ce7\u3002<\/p>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-end alpha-cta-alloc has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f3f7fb;padding:32px 20px\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:clamp(16.834px, 1.052rem + ((1vw - 3.2px) * 0.716), 26px);font-weight:700\">\u5148\u7b97\u4e00\u6b21\uff0c\u518d\u6c7a\u5b9a\u600e\u9ebc\u914d<\/p>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\u8f38\u5165\u91d1\u984d\u3001\u671f\u9593\u8207\u76ee\u6a19\uff0c\u770b\u80a1\u50b5\u6bd4\u4f8b\u8207\u53ef\u80fd\u7684\u5831\u916c\u7bc4\u570d\uff1b\u8a66\u7b97\u7d50\u679c\u50c5\u4f9b\u53c3\u8003\uff0c\u4e0d\u4ee3\u8868\u672a\u4f86\u7e3e\u6548<\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-fe0a7de2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/roboadvisor.com.tw\/portfolio-calculator\/?Camp=Blog\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u514d\u8cbb\u8a66\u7b97\u6211\u7684\u6295\u8cc7\u7d44\u5408<\/strong><\/a><\/div>\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/urli.ai\/line\/XpZpxkKi\" style=\"border-radius:50px;color:#00b900;background-color:#ffffff;border:2px solid #00b900;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u52a0 LINE \u554f\u9867\u554f<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">\u5e38\u898b\u554f\u984c<\/h2>\n\n<h3 class=\"wp-block-heading\">\u7cfb\u7d71\u6027\u98a8\u96aa\u53ef\u4ee5\u907f\u514d\u55ce\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u4e0d\u80fd\u5b8c\u5168\u907f\u514d\uff0c\u7cfb\u7d71\u6027\u98a8\u96aa\u5f71\u97ff\u6574\u500b\u5e02\u5834\uff0c\u6301\u80a1\u518d\u591a\u4e5f\u5206\u6563\u4e0d\u6389\uff0c\u80fd\u505a\u7684\u662f\u63a7\u5236\u627f\u64d4\u591a\u5c11\uff0c\u4f8b\u5982\u8abf\u6574\u80a1\u50b5\u6bd4\u4f8b\u3001\u62c9\u9577\u6295\u8cc7\u671f\u9593\uff0c\u4e26\u628a\u8cc7\u7522\u5206\u6563\u5230\u4e0d\u540c\u570b\u5bb6\uff0c\u964d\u4f4e\u55ae\u4e00\u570b\u5bb6\u7684\u90e8\u5206\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u6301\u80a1\u5e7e\u6a94\u624d\u7b97\u5206\u6563\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u7d93\u5178\u7814\u7a76\u7684\u7b54\u6848\u5f9e\u7d04 10 \u6a94\uff08Evans \u8207 Archer\uff0c1968\uff09\u5230 30\u201340 \u6a94\uff08Statman\uff0c1987\uff09\u4e0d\u7b49<sup>[5][6]<\/sup>\uff0c\u524d\u63d0\u662f\u96a8\u6a5f\u6311\u9078\u3001\u7522\u696d\u5206\u6563\uff0c\u82e5 30 \u6a94\u80a1\u7968\u90fd\u5728\u540c\u4e00\u7522\u696d\u6216\u540c\u4e00\u570b\u5bb6\uff0c\u5206\u6563\u6548\u679c\u6703\u6253\u6298\uff0c\u6211\u89ba\u5f97\u7528\u6307\u6578\u5316\u5de5\u5177\u4e00\u6b21\u6301\u6709\u6574\u500b\u5e02\u5834\u662f\u8f03\u7701\u4e8b\u7684\u505a\u6cd5\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u8cb7\u53f0\u80a1\u5927\u76e4\u6307\u6578\u7b97\u5206\u6563\u55ce\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5206\u6563\u4e86\u500b\u80a1\u98a8\u96aa\uff0c\u4e0d\u904e\u4ecd\u96c6\u4e2d\u5728\u55ae\u4e00\u570b\u5bb6\u8207\u5c11\u6578\u6b0a\u503c\u80a1\uff0c2026 \u5e74 9 \u6708 30 \u65e5\u52a0\u6b0a\u6307\u6578\u6210\u5206\u80a1\u4e2d\uff0c\u53f0\u7a4d\u96fb\u5e02\u503c\u6bd4\u91cd 41.12%\u3001\u524d 10 \u5927\u5408\u8a08 59.83%<sup>[8]<\/sup>\uff0c\u53f0\u7063\u5728\u5168\u7403\u80a1\u5e02\u6b0a\u91cd\u5247\u662f 3.46%<sup>[7]<\/sup>\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\u548c\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u54ea\u500b\u6bd4\u8f03\u5927\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u770b\u6301\u6709\u65b9\u5f0f\uff0c\u4f9d\u6301\u80a1\u6a94\u6578\u8a66\u7b97\u7684\u5047\u8a2d\uff08\u500b\u80a1\u6ce2\u52d5\u5ea6 40%\u3001\u76f8\u95dc\u4fc2\u6578 0.25\uff09\uff0c\u55ae\u4e00\u500b\u80a1\u7684\u8b8a\u7570\u6578\u6709 75% \u4f86\u81ea\u500b\u5225\u98a8\u96aa\uff1b\u5206\u6563\u5230 30 \u6a94\u4ee5\u4e0a\u4e4b\u5f8c\uff0c\u5269\u4e0b\u7684\u4e3b\u8981\u662f\u7cfb\u7d71\u6027\u98a8\u96aa\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u50b5\u5238\u4e5f\u6709\u7cfb\u7d71\u6027\u98a8\u96aa\u55ce\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u6709\uff0c\u5229\u7387\u8b8a\u52d5\u6703\u540c\u6642\u5f71\u97ff\u6240\u6709\u50b5\u5238\u7684\u50f9\u683c\uff0c\u5c6c\u65bc\u7cfb\u7d71\u6027\u98a8\u96aa\uff1b\u55ae\u4e00\u767c\u884c\u516c\u53f8\u9055\u7d04\u5247\u662f\u975e\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u53ef\u4ee5\u9760\u5206\u6563\u6301\u6709\u591a\u5bb6\u767c\u884c\u4eba\u7684\u50b5\u5238\u964d\u4f4e\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u5ef6\u4f38\u95b1\u8b80<\/h2>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=840\">\u8cc7\u7522\u914d\u7f6e\u662f\u4ec0\u9ebc\uff1f\u4f9d\u5e74\u9f61\u8207\u6295\u8cc7\u671f\u9593\u7684\u914d\u7f6e\u5c0d\u7167\u8868<\/a>\uff1a\u9069\u5408\u5df2\u7d93\u61c2\u5f97\u5206\u6563\u3001\u60f3\u77e5\u9053\u80a1\u7968\u548c\u50b5\u5238\u8a72\u5404\u653e\u591a\u5c11\u7684\u4eba<\/li>\n<li><a 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\u65e5\u64f7\u53d6\u3002https:\/\/www.twse.com.tw\/zh\/trading\/historical\/stock-day.html<\/li>\n<li>[3] \u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\uff082020\uff09\u3002\u767c\u884c\u91cf\u52a0\u6b0a\u80a1\u50f9\u6307\u6578\u6b77\u53f2\u8cc7\u6599\uff082020 \u5e74 1 \u6708\u30013 \u6708\u300110 \u6708\uff09\uff0c2026 \u5e74 10 \u6708 19 \u65e5\u64f7\u53d6\u3002https:\/\/www.twse.com.tw\/zh\/indices\/taiex\/mi-5min-hist.html<\/li>\n<li>[4] Markowitz, H. (1952). Portfolio selection. <em>The Journal of Finance, 7<\/em>(1), 77\u201391. https:\/\/doi.org\/10.1111\/j.1540-6261.1952.tb01525.x<\/li>\n<li>[5] Evans, J. L., &amp; Archer, S. H. (1968). Diversification and the reduction of dispersion: An empirical analysis. <em>The Journal of Finance, 23<\/em>(5), 761\u2013767. https:\/\/doi.org\/10.1111\/j.1540-6261.1968.tb00315.x<\/li>\n<li>[6] Statman, M. (1987). How many stocks make a diversified portfolio? <em>Journal of Financial and Quantitative Analysis, 22<\/em>(3), 353\u2013363. https:\/\/doi.org\/10.2307\/2330969<\/li>\n<li>[7] MSCI. (2026). <em>MSCI ACWI Index (USD): Index factsheet, September 30, 2026<\/em> [Fact sheet]. https:\/\/www.msci.com\/documents\/10199\/255599\/msci-acwi-net.pdf<\/li>\n<li>[8] \u81fa\u7063\u671f\u8ca8\u4ea4\u6613\u6240\uff082026\uff09\u3002\u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\u767c\u884c\u91cf\u52a0\u6b0a\u80a1\u50f9\u6307\u6578\u6210\u5206\u80a1\u66a8\u5e02\u503c\u6bd4\u91cd\uff08\u8cc7\u6599\u65e5\u671f 2026 \u5e74 9 \u6708 30 \u65e5\uff09\uff0c2026 \u5e74 10 \u6708 19 \u65e5\u64f7\u53d6\u3002https:\/\/www.taifex.com.tw\/cht\/9\/futuresQADetail<\/li>\n<li>[9] MoneyDJ\uff082020 \u5e74 10 \u6708 28 \u65e5\uff09\u3002\u6b23\u8208\u6843\u5712\u9f9c\u5c71\u5c71\u9daf\u5ee0\u50b3\u706b\u707d\uff0c\u5168\u7403 ABF \u8f09\u677f\u7522\u80fd\u518d\u62c9\u8b66\u5831\u3002\u79d1\u6280\u65b0\u5831\u3002https:\/\/finance.technews.tw\/2020\/10\/28\/unimicron-fire-spreads-from-taoyuan-guishan-shanying-factory\/<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\">\u91cd\u8981\u8072\u660e<\/h2>\n\n<p 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