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This study takes the PPH and PJP ETFs in the health care category as the empirical samples, and compares the long-term investment performance of three investment strategies in the PPH and PJP ETFs, including dollar cost averaging, value averaging, and quantity averaging. The investment period of this study is from January 1, 2011 to December 31, 2020, a total of 10 years. The empirical results indicate that in terms of PJP ETF, the value averaging investment strategy can obtain the highest total return and the highest annualized rate of return. The dollar cost averaging has the highest total profit amount. All performance indexes of quantity averaging investment strategy are the worst. Secondly, in terms of PPH ETF, value averaging has the highest total profit amount, the highest total return, and the highest annualized rate of return, followed by the dollar cost averaging, and All performance indexes of quantity averaging are the worst. Although value averaging has the best profitability performance, this investment strategy cannot predict the future stock price trend, so it is difficult for investors to make cash flow planning.
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