Inkcazo, ixesha kunye neengozi zeNgxowa-mali ze-Coupon Bond
Abanini-zimali abaninzi abaqapheli ukuba kukho iindidi ezininzi zeengxowa-mali zentsebenziswano kunye kwaye zingasetyenziselwa okungakumbi nje ukutyalo-mali ophantsi okanye ukungafani kokungena kunye nokugcina imali yempahla. Kwaye kukho abatshali-mali abangakumbi abangaboniyo ngeenzuzo zokusetyenziswa kweengxowa-mali ze-coupon bond.
Nantsi into ekufuneka uyazi malunga nalezixhobo ezifumanekayo ezifumanekayo:
Iibhondi ze-Zero-Coupon: Inkcazo kunye neZisiseko zoTyalo-mali
Isibophelelo se-zero-bond bond isithengi esithengwayo kwisaphulelo (ixabiso elincinane kunexabiso lobuso bayo), kunye nexabiso elijongene nokubuyiselwa kumtyalomali ngexesha lokukhula. " Iikontoni " enye igama lokuhlawula inzala yomtshato kunye neebhonkco ze-coupon zenze iintlawulo zenzalo. Ngamazwi ahlukeneyo, ezi zibophelelo azihlawuli iikhonsoni, ngoko ke i-bond ye-coupon bond.
Umthengi wesibhambathiso ufumana ubuso obupheleleyo (par) xabiso lobophelelo xa ubophelelo lufikelela ekuvuthweni. Nangona kunjalo, ngokuchaseneyo, umtyalo-mali ophethe isibophelelo esiqhelekileyo ufumana inzuzo evela kwiintlawulo zekhuphoni zexesha eliqhelekileyo, eziqhelekileyo zenziwe ngonyaka.
Ezinye izibophelelo ze-coupon ze-coupon aziqali njengezibophelelo ze-coupon. Ngokomzekelo, amabhondi e-US Treasury awayi kuqali nje ngeqhosha elilodwa kodwa inkqubo eyaziwa njengeShishini lokuLawulwa kweNzala kunye neNgcaciso yeZigqeba (i-STRIPS), isusa isigqebhezana, okanye intlawulo yenzalo, kwaye idala izibophelelo ze-coupon, ezaziwa ngokuba "STRIP izibophelelo."
Ngenxa yokuba izibophelelo ze-coupon ze-coupon azihlawuli umdla kwaye ixabiso lentengo lifanele ngenxa yokukhula, intengo yabo iyabakhathalela kakhulu kwizinga lentengo. Ngoko ke, kungekuphela nje ukunyuka kwezinga lenzalo elungileyo kwiimbopheleleko, kulunge ngakumbi kwii-bond bond bond.
Ngokubhekiselele kwiimali zengxowa-mali, sebenzisa ingqalelo ukuba umtyalomali unayo izabelo zeengxowa-mali kunye kunye neengxowa-mali ze-collective fund.
Ngoko ke intengo ye-mutual fund ye-bond (okanye into ebhekiswe kuyo njengexabiso layo lexabiso okanye i- NAV ) ngumsebenzi ophakathi kwintlawulo yemali yebhondi ukubuyela kumtyalomali. Yingakho iimali ezixhamliweyo zengxowa-mali zinomngcipheko oyintloko -kuba imali efunyenwe imali ingabaluleka, kanti umnini-mvume ngamnye angabamba ubhonkco ngaphandle kokubandakanyeka nayiphi na ilahleko, ngaphandle nje kokuba bengathengisi ibhondi yabo ngentengo ephantsi kunexabiso kuthengwa.
Ixesha elifanelekileyo lokuTyala kwiiNgxowa-mali ze-Zero-Coupon Bond Funds
Ixabiso leBond kunye neerhafu zenzalo zifana neziphelo ezimbini eziphikisanayo zokutshintsha: Xa elinye icala liphakama, elinye icala liwela. Ngoko ke xa ixabiso lomyinge likhuphuka, ixabiso lesibhondi liyawa kwaye xa inani lamanani liwela, ixabiso lentengo liya kukhula. Ngoko ixesha elifanelekileyo lokutshala imali kwiibhondi kukuba xa izinga lokuhlawula ixabiso litshatyalaliswa kuba ixabiso (okanye ixabiso) lotyalo-mali lwakho lukhulayo.
Umbuzo kuphela ohleliyo malunga nexesha elifanelekileyo lokutshala imali kwi-bond-bond bond bond: yiyiphi ireyiti yemigangatho ehlawulwayo? Impendulo ngethuba lexesha elichasayo .
Isizathu kukuba i-Federal Reserve izakulwa nokuchaswa kwexabiso, okuyixesha lokuwa kwexabiso lempahla yabathengi kunye neenkonzo, ngokunciphisa ixabiso lentengo ngokuthengwa kweeMali zeeNondyebo.
Iifom zeBhondi zeBhondi zeComputer
I-fund yebhondi yequmrhu elifutshane elifutshane elifutshane elifutshane (iminyaka ka-2014 okanye ngo-2015) yi- American Century Zero Coupon 2015 (i-BTFTX) kunye nenye yezona zinto zigqwesileyo kwixesha elide le-bond ye-bonds ye- ETF , i- PIMCO 25+ ye-Zero Coupon US I-Trs (ZROZ).
Abatyalomali kufuneka baqaphele xa bethengwa kwaye bephethe imali ye-bond bond ye-coupon ngenxa yokuba amaxabiso abo aguquka ngokukhawuleza. Kwakhona, izibophelelo zangexesha elide ziya kuba nokunyuka okukhulu kwexabiso kunokubambisana kwexesha elifutshane.
Ngokomzekelo, kunyaka wama-2013, i-ZROZ inokubuyiswa kwe -20.9%, kwaye ngo-2014, le ngxowa-mali yayine-48.8% inzuzo. I-ZROZ yabuya iphinda iphinde ibuyeke ngo-2015, ibe neenzuzo eziphantsi kweenombolo ezili-20 ngo-2016, yatsho phambili phambi kwe-fund bond bond, njengoko ilinganiswe yi- Bloomberg Barclays ye-US Aggregate Bond Index , ngo-2017.
Ngoko ke ukuhamba okubalulekileyo kunye nezibophelelo ze-coupon zentengiso kukuba ziyakwazi ukuhlala zizintlu zexesha elide kodwa zincinci, iimpahla zexesha lokuthengisa kwaye ngokuqinisekileyo kungekhona ukuqala-mali.
Ukuziphendulela: Ulwazi olukule ndawo lunikezelwa ngeenjongo zengxoxo kuphela, kwaye akufanele lichazwe ngokungeniswa njengeengcebiso zotyalo-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso.