Why does no one complain that Alipay's "Nasdaq Fund" is actually a Nasdaq flavor index! 😤

You think you're buying the same stock as Q, with a surge in U.S. stocks, but the actual returns always fall short.
The core reasons are two:
1. The fund must keep 5-10% in cash to handle redemptions, and this portion of money can't benefit from the gains, purely dragging down the overall return;
2. Exchange rate risk: U.S. stocks go up, but if the dollar against the yuan falls, the net asset value denominated in RMB is directly cut.
The essence of QDII is like "looking at U.S. stocks through a layer of glass," visible but intangible, and you still have to pay exchange rate taxes.
I'm increasingly thinking: if you want to truly enjoy U.S. stock dividends with real money, you should find ways to directly invest through the Hong Kong Stock Connect, U.S. stocks, or find products with good hedging. Alipay's Nasdaq fund is suitable for small-scale testing; if you want to hold a heavy position, it's still a bit lacking.