{"id":1098060,"date":"2025-07-09T17:31:10","date_gmt":"2025-07-09T14:31:10","guid":{"rendered":"https:\/\/www.etoro.com\/investing\/target-date-funds\/"},"modified":"2025-07-18T16:28:28","modified_gmt":"2025-07-18T13:28:28","slug":"target-date-funds","status":"publish","type":"page","link":"https:\/\/www.etoro.com\/cs-cz\/investing\/target-date-funds\/","title":{"rendered":"Fondy s c\u00edlov\u00fdm datem: Pr\u016fvodce"},"content":{"rendered":"\n

Fondy s c\u00edlov\u00fdm datem (TDF) vyu\u017e\u00edvaj\u00ed n\u011bkter\u00e9 ze z\u00e1kladn\u00edch princip\u016f \u00fasp\u011b\u0161n\u00e9ho dlouhodob\u00e9ho investov\u00e1n\u00ed. Zjist\u011bte, co jsou za\u010d, pro\u010d by v\u00e1m investov\u00e1n\u00ed s \u201eglide path\u201c mohlo vyhovovat a jak do TDF investovat.<\/p>\n\n\n\n

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Ve sv\u011bt\u011b investov\u00e1n\u00ed roste z\u00e1jem o strategie, kter\u00e9 jsou v souladu s konkr\u00e9tn\u00edmi finan\u010dn\u00edmi c\u00edli a \u010dasov\u00fdmi horizonty<\/strong>. Fondy s c\u00edlov\u00fdm datem (TDF) jsou jednou z takov\u00fdch strategi\u00ed, navr\u017een\u00fdch pro zjednodu\u0161en\u00ed investi\u010dn\u00edho procesu<\/a> automatick\u00fdm p\u0159izp\u016fsoben\u00edm skladby aktiv s bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem.<\/p>\n\n\n\n

V tomto \u010dl\u00e1nku se dozv\u00edte, co jsou TDF, jak funguj\u00ed a jak\u00e9 v\u00fdhody a nev\u00fdhody nab\u00edzej\u00ed. D\u00e1le prozkoum\u00e1me tak\u00e9 koncept strategi\u00ed \u201eglide path\u201c a jejich vztah k TDF<\/strong>, \u010d\u00edm\u017e poskytneme komplexn\u00ed informace pro ty, kte\u0159\u00ed zva\u017euj\u00ed vyu\u017eit\u00ed t\u00e9to investi\u010dn\u00ed strategie v r\u00e1mci sv\u00e9ho portfolia.<\/p>\n\n\n\n

\"Co<\/figure>\n\n\n\n

Co je fond s c\u00edlov\u00fdm datem (TDF)?<\/h2>\n\n\n\n

Fond s c\u00edlov\u00fdm datem (TDF) je investi\u010dn\u00ed fond strukturovan\u00fd tak, aby zhodnocoval aktiva po stanovenou dobu <\/strong>\u2013 typicky t\u0159eba do data odchodu do d\u016fchodu. Tyto fondy jsou navr\u017eeny tak, aby automaticky upravovaly alokaci sv\u00fdch aktiv a s bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem byly postupn\u011b konzervativn\u011bj\u0161\u00ed<\/strong> . <\/p>\n\n\n\n

Do \u010deho se bude v r\u00e1mci TDF investovat, z\u00e1vis\u00ed p\u0159edev\u0161\u00edm na tom, na kdy je stanoveno c\u00edlov\u00e9 datum. TDF lze vyu\u017e\u00edt nap\u0159\u00edklad jako n\u00e1stroj pro spo\u0159en\u00ed na d\u016fchod, av\u0161ak c\u00edle mohou b\u00fdt i kr\u00e1tkodob\u00e9 nebo st\u0159edn\u011bdob\u00e9<\/strong>, nap\u0159\u00edklad pokud pl\u00e1nujete po\u0159\u00eddit si d\u016fm nebo si d\u00e1t del\u0161\u00ed pauzu od pr\u00e1ce.<\/p>\n\n\n\n

TDF jsou obl\u00edben\u00e9 mezi investory, kte\u0159\u00ed preferuj\u00ed pasivn\u00ed p\u0159\u00edstup<\/strong><\/a>. Fondy s c\u00edlov\u00fdm datem toti\u017e poskytuj\u00ed diverzifikovanou investi\u010dn\u00ed strategii, kter\u00e1 se v pr\u016fb\u011bhu \u010dasu vyv\u00edj\u00ed, ani\u017e by vy\u017eadovala aktivn\u00ed spr\u00e1vu<\/strong> ze strany investora.<\/p>\n\n\n\n

Nejv\u011bt\u0161\u00ed benefit TDF spo\u010d\u00edv\u00e1 v jejich strukturovan\u00e9m investi\u010dn\u00edm p\u0159\u00edstupu a automatick\u00e9m rebalancov\u00e1n\u00ed<\/strong>. Investo\u0159i si vyberou fond s datem, kter\u00e9 odpov\u00edd\u00e1 jejich odchodu do d\u016fchodu nebo jin\u00e9mu finan\u010dn\u00edmu c\u00edli, a spr\u00e1vci fondu pak dohl\u00ed\u017eej\u00ed na pr\u016fb\u011b\u017en\u00e9 \u00fapravy portfolia. To d\u011bl\u00e1 z TDF atraktivn\u00ed mo\u017enost pro ty, kte\u0159\u00ed preferuj\u00ed investi\u010dn\u00ed strategii \u201enastav a zapome\u0148\u201c. <\/mark><\/p>\n\n\n\n

\"Jak<\/figure>\n\n\n\n

Jak fondy s c\u00edlov\u00fdm datem (TDF) funguj\u00ed?<\/h2>\n\n\n\n

Fondy s c\u00edlov\u00fdm datem funguj\u00ed tak, \u017ee v pr\u016fb\u011bhu \u010dasu upravuj\u00ed alokaci sv\u00fdch aktiv <\/strong>\u2013 s bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem<\/a> p\u0159ech\u00e1zej\u00ed od n\u00e1stroj\u016f orientovan\u00fdch zejm\u00e9na na r\u016fst k v\u00edce konzervativn\u00edm. Tento proces je zn\u00e1m\u00fd jako \u201eglide path\u201c <\/strong>.<\/p>\n\n\n\n

Vezm\u011bme si nap\u0159\u00edklad TDF s c\u00edlov\u00fdm datem 2040, kter\u00fd m\u016f\u017ee za\u010d\u00edt s vysokou alokac\u00ed do r\u016fstov\u00fdch akci\u00ed. Zde se po\u010d\u00edt\u00e1 s t\u00edm, \u017ee jak\u00e1koliv kr\u00e1tkodob\u00e1 a st\u0159edn\u011bdob\u00e1 cenov\u00e1 volatilita na akciov\u00e9m trhu bude do kone\u010dn\u00e9ho data fondu p\u0159ekon\u00e1na.. S bl\u00ed\u017e\u00edc\u00edm se rokem 2040 se za\u010dne fond postupn\u011b p\u0159esouvat k dluhopis\u016fm<\/a> a dal\u0161\u00edm cenn\u00fdm pap\u00edr\u016fm s pevn\u00fdm v\u00fdnosem \u2013 pro zachov\u00e1n\u00ed hodnoty kapit\u00e1lu a sn\u00ed\u017een\u00ed rizika<\/strong>.<\/p>\n\n\n\n

Tuto automatickou \u00fapravu aktiv ocen\u00ed zejm\u00e9na jednotlivci, kte\u0159\u00ed nemaj\u00ed \u010das nebo odborn\u00e9 znalosti k aktivn\u00ed spr\u00e1v\u011b sv\u00fdch investic. \u201eGlide path\u201c zaji\u0161\u0165uje, \u017ee \u00farove\u0148 rizika fondu je p\u0159im\u011b\u0159en\u00e1 \u010dasov\u00e9mu horizontu investora<\/strong>, v souladu s principem p\u0159ij\u00edm\u00e1n\u00ed spr\u00e1vn\u00fdch rizik ve spr\u00e1vn\u00fd \u010das.<\/p>\n\n\n\n

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Tip:<\/strong> R\u016fzn\u00e9 styly \u201eglide path\u201c oslovuj\u00ed r\u016fzn\u00e9 investory. Zva\u017ete sv\u00e9 investi\u010dn\u00ed c\u00edle a zvolte si pro sebe tu spr\u00e1vnou cestu.<\/p>\n<\/div><\/div>\n\n\n\n

Jak pou\u017e\u00edvat investi\u010dn\u00ed strategii \u201eglide path\u201c?<\/h2>\n\n\n\n

\u201eGlide path\u201c je kl\u00ed\u010dovou sou\u010d\u00e1st\u00ed fond\u016f s c\u00edlov\u00fdm datem \u2013 ur\u010duje toti\u017e, jak se alokace aktiv fondu m\u011bn\u00ed v pr\u016fb\u011bhu \u010dasu. Kdy\u017e je c\u00edl je\u0161t\u011b daleko \u2013 prioritou je p\u0159edev\u0161\u00edm r\u016fst<\/strong>, s vy\u0161\u0161\u00ed alokac\u00ed do akci\u00ed<\/strong>. S bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem se prioritou st\u00e1v\u00e1 zachov\u00e1n\u00ed kapit\u00e1lu \u2013 proto se za\u010dne zv\u011bt\u0161ovat pod\u00edl alokace do dluhopis\u016f a dal\u0161\u00edch n\u00edzkorizikov\u00fdch investic.<\/p>\n\n\n\n

Tato strategie umo\u017e\u0148uje investor\u016fm t\u011b\u017eit z<\/strong> potenci\u00e1ln\u011b vy\u0161\u0161\u00edch v\u00fdnos\u016f akci\u00ed<\/strong> v po\u010d\u00e1te\u010dn\u00edch letech<\/strong> a z\u00e1rove\u0148 postupn\u011b sni\u017eovat riziko s bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem. Nap\u0159\u00edklad mlad\u00fd investor s datem odchodu do d\u016fchodu vzd\u00e1len\u00fdm n\u011bkolik desetilet\u00ed m\u016f\u017ee za\u010d\u00edt s TDF, kde siln\u011b p\u0159eva\u017euje akciov\u00e1 slo\u017eka. Jakmile se v\u0161ak bude bl\u00ed\u017eit k d\u016fchodu, fond se automaticky p\u0159esune k dluhopis\u016fm, co\u017e m\u00e1 za c\u00edl sn\u00ed\u017eit vystaven\u00ed se riziku volatility<\/a> trhu.<\/p>\n\n\n\n

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Tip:<\/strong> Ne\u017e za\u010dnete investovat, zkontrolujte v\u00fd\u0161i poplatk\u016f za dan\u00fd fond. N\u00edzk\u00fd pom\u011br n\u00e1klad\u016f m\u016f\u017ee m\u00edt pozitivn\u00ed dopad na va\u0161e dlouhodob\u00e9 investi\u010dn\u00ed v\u00fdnosy.<\/p>\n<\/div><\/div>\n\n\n\n

Jak\u00e9 existuj\u00ed typy \u201eglide path\u201c?<\/h2>\n\n\n\n

\u201eGlide path\u201c se mohou mezi r\u016fzn\u00fdmi fondy s c\u00edlov\u00fdm datem v\u00fdrazn\u011b li\u0161it. <\/strong>Existuj\u00ed r\u016fzn\u00e9 typy \u2013 nap\u0159. klesaj\u00edc\u00ed a rostouc\u00ed <\/strong> \u201eglide path\u201c<\/strong>, podle \u010deho\u017e se bude m\u011bnit tak\u00e9 alokace aktiv v pr\u016fb\u011bhu \u010dasu. Pochopen\u00ed t\u011bchto variac\u00ed m\u016f\u017ee investor\u016fm pomoci s v\u00fdb\u011brem TDF, kter\u00fd je v souladu s jejich toleranc\u00ed k riziku a investi\u010dn\u00edmi c\u00edli.<\/p>\n\n\n\n

\"Typy<\/figure>\n\n\n\n

Klesaj\u00edc\u00ed \u201eglide path\u201c<\/h3>\n\n\n\n

Nejb\u011b\u017en\u011bj\u0161\u00ed typ, klesaj\u00edc\u00ed “glide path”, <\/strong>za\u010d\u00edn\u00e1 s vysokou alokac\u00ed do akci\u00ed a postupn\u011b se s bl\u00ed\u017e\u00edc\u00edm se c\u00edlov\u00fdm datem p\u0159esouv\u00e1 k n\u00edzkorizikov\u00fdm dluhopis\u016fm. Tato strategie si klade za c\u00edl maximalizovat potenci\u00e1l r\u016fstu v prvn\u00edch letech a z\u00e1rove\u0148 zachovat hodnotu kapit\u00e1lu<\/a> pozd\u011bji bl\u00ed\u017ee k c\u00edlov\u00e9mu datu. Zpo\u010d\u00e1tku se tedy podstupuje v\u011bt\u0161\u00ed riziko, kter\u00e9 se ke konci sni\u017euje<\/strong>.<\/p>\n\n\n\n

Rostouc\u00ed \u201eglide path\u201c<\/h3>\n\n\n\n

Rostouc\u00ed \u201eglide path\u201c za\u010d\u00edn\u00e1 s konzervativn\u00ed alokac\u00ed aktiv a v pr\u016fb\u011bhu \u010dasu se st\u00e1v\u00e1 naopak agresivn\u011bj\u0161\u00ed. Tento p\u0159\u00edstup je m\u00e9n\u011b b\u011b\u017en\u00fd, ale m\u016f\u017ee oslovit za\u010d\u00ednaj\u00edc\u00ed investory, kte\u0159\u00ed jsou zpo\u010d\u00e1tku m\u00e9n\u011b odoln\u00ed v\u016f\u010di vysok\u00e9mu riziku<\/strong>. Jakmile se c\u00edt\u00ed pohodln\u011bji a l\u00e9pe rozum\u00ed technice \u201eglide path\u201c, mohou p\u0159ej\u00edt na klesaj\u00edc\u00ed \u201eglide path\u201c.<\/p>\n\n\n\n

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\u201e\u010cas je v\u00e1\u0161 p\u0159\u00edtel, impulzivnost je v\u00e1\u0161 nep\u0159\u00edtel. M\u011bjte dlouhodobou perspektivu.\u201c <\/p>\nJohn C. Bogle<\/a><\/cite><\/blockquote>\n\n\n\n

Jak\u00e9 jsou v\u00fdhody a nev\u00fdhody TDF?<\/h2>\n\n\n\n

Fondy s c\u00edlov\u00fdm datem nab\u00edzej\u00ed n\u011bkolik v\u00fdhod, ale tak\u00e9 s sebou nesou potenci\u00e1ln\u00ed nev\u00fdhody<\/strong>. Pochopen\u00ed t\u011bchto detail\u016f m\u016f\u017ee investor\u016fm pomoci \u010dinit informovan\u00e1 rozhodnut\u00ed.<\/p>\n\n\n\n

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V\u00fdhody<\/strong><\/td>Nev\u00fdhody<\/strong><\/td><\/tr>
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V\u00fdhody<\/strong><\/div>
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