Brothers, putting these 8 indices together, it's easy to focus on who earns the most at first glance. But if you are really planning to invest for a few years, I think the column next to it with the "maximum drawdown" is worth taking a closer look. Annualized income is calculated after a complete journey, not the interest paid to you on time every year. How many times you experience a decline and how long it takes to recoup your investment will affect whether you can ultimately receive this return. For example, if 100000 yuan drops to 60000 yuan, it is a 40% drawdown; But returning from 60000 yuan to 100000 yuan requires an increase of about 67%. The numbers written on the chart are not long, but when placed in the account, it may be a long period of indecision. So before choosing an index, I would first ask: When will this money be used? How much of an account drop will affect daily life? If the performance is not good for one or two consecutive years, can we still invest according to the plan? Let's see what to buy specifically. The S&P 500 covers a wider range of industries, but it is not evenly distributed among the 500 companies, and the rise and fall of large companies still have a significant impact. The Nasdaq 100 is biased towards technology and growth, but it is not a pure technology index either. Choosing it not only recognizes the development of these companies, but also accepts the possibility of pressure from related industries. On the A-share side, the problems solved by dividends and broad-based strategies are also different. Dividends focus on dividend characteristics, and low wave strategies further consider historical fluctuations; Wide base covers a wider range of market opportunities. Dividends are not extra money given away for free, and low waves do not mean that they will not plummet. The safety level cannot be judged solely by the name. Another easily overlooked aspect is that buying a few funds may not necessarily lead to diversification. S&P, Nasdaq, and technology themes may repeatedly hold the same group of large companies. The account appears to be rich, but the risks are concentrated in similar directions. For me, this table is more suitable for understanding different indices and is not suitable for directly allocating positions based on historical return rankings. Changing the starting point of statistics, whether it includes dividends, and whether it is calculated in US dollars or Chinese yuan, the results may all change. The retrospective data before release cannot be regarded as the actual returns experienced by investors. When it comes to fixed investment, I prefer to first determine the amount of investment that can be sustained in the long term, and then assign roles to different assets, regularly checking for any deviations from the plan. Who has won in the past decade can be studied; How to persist in the next ten years requires careful planning in advance. The combination that suits oneself should be the one that has reasons and funds to continue executing even when the market is not good.