{"id":578677,"date":"2023-03-28T13:19:50","date_gmt":"2023-03-28T10:19:50","guid":{"rendered":"https:\/\/www.etoro.com\/investing\/fixed-income\/"},"modified":"2026-03-17T15:09:22","modified_gmt":"2026-03-17T13:09:22","slug":"fixed-income","status":"publish","type":"page","link":"https:\/\/www.etoro.com\/cs-cz\/investing\/fixed-income\/","title":{"rendered":"Pr\u016fvodce investicemi s fixn\u00edm v\u00fdnosem"},"content":{"rendered":"\n<p class=\"is-style-summary\">Mezi investice s fixn\u00edm v\u00fdnosem pat\u0159\u00ed nap\u0159. dluhopisy. Jedn\u00e1 se o investi\u010dn\u00ed aktivum, kter\u00e9 sv\u00fdm investor\u016fm p\u0159in\u00e1\u0161\u00ed pravideln\u00fd a fixn\u00ed v\u00fdnos.<\/p>\n\n\n\n\n\n\n<hr class=\"wp-block-separator wp-block-separator-color-dark-grey wp-block-separator-spaces-medium wp-block-separator-weight-1 has-alpha-channel-opacity\"\/>\n\n\n\n<p>Mezi investory se dluhopisy op\u011bt st\u00e1vaj\u00ed zaj\u00edmavou investi\u010dn\u00ed p\u0159\u00edle\u017eitost\u00ed a nen\u00ed to nijak p\u0159ekvapiv\u00e9. Dluhopisy v\u00e1m toti\u017e dok\u00e1\u017eou nab\u00eddnout pom\u011brn\u011b <strong>zaj\u00edmav\u00e9 v\u00fdnosy, a to a\u017e kolem 4 % a v\u00edce.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> Investice s fixn\u00edm v\u00fdnosem zahrnuj\u00ed vl\u00e1dn\u00ed a korpor\u00e1tn\u00ed dluhopisy, vkladov\u00e9 certifik\u00e1ty a n\u011bkter\u00e9 typy fond\u016f.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Co jsou to investice s fixn\u00edm v\u00fdnosem?<\/h2>\n\n\n\n<p><mark>Dluhopisy jsou nejb\u011b\u017en\u011bj\u0161\u00edm typem investice s fixn\u00edm v\u00fdnosem. Dluhopis je n\u00e1stroj p\u0159edstavuj\u00edc\u00ed p\u016fj\u010dku poskytnutou investorem emitentovi dluhopisu, kter\u00fd je obchodovateln\u00fd na burze \u010di jinde. Emitentem dluhopisu m\u016f\u017ee b\u00fdt bu\u010f korporace, nebo vl\u00e1da.<\/mark><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-1-What-are-fixed-income-investments-1.png\" alt=\"\" class=\"wp-image-1049317 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-1-What-are-fixed-income-investments-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-1-What-are-fixed-income-investments-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p><mark>Emitent dluhopisu se zavazuje k tomu, \u017ee <strong>za prost\u0159edky, kter\u00e9 jsou p\u0159edm\u011btem t\u00e9to p\u016fj\u010dky, bude investorovi vypl\u00e1cet fixn\u00ed sazbu po ur\u010dit\u00e9 obdob\u00ed<\/strong>, kdy dluhopis dos\u00e1hne data splatnosti a hlavn\u00ed investice  je vyplacena. <\/mark><\/p>\n\n\n\n<p>P\u0159ed dosa\u017een\u00edm data splatnosti jsou investorovi pravideln\u011b, obvykle m\u011bs\u00ed\u010dn\u011b, <strong>vypl\u00e1ceny fixn\u00ed \u00faroky, kter\u00fdm se \u0159\u00edk\u00e1 dividendy \u010di kupony<\/strong>. Odtud poch\u00e1z\u00ed term\u00edn investice s fixn\u00edm p\u0159\u00edjmem; kdy\u017e si koup\u00edte dluhopis, o\u010dek\u00e1v\u00e1te st\u00e1l\u00fd p\u0159\u00edjem, jeho\u017e podm\u00ednky byly p\u0159edem stanoveny, proto \u201efixn\u00ed\u201c.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"862\" height=\"493\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/10\/CZ-Screenshot-1.png\" alt=\"\" class=\"wp-image-736652 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/10\/CZ-Screenshot-1.png 862w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/10\/CZ-Screenshot-1-300x172.png 300w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/10\/CZ-Screenshot-1-768x439.png 768w\" sizes=\"(max-width: 862px) 100vw, 862px\" \/><\/figure>\n\n\n\n<p><mark>Investice s fixn\u00edm v\u00fdnosem mohou slou\u017eit jako zaj\u00edmav\u00e1 mo\u017enost vybalancov\u00e1n\u00ed va\u0161eho portfolia. Nap\u0159\u00edklad mohou b\u00fdt vhodn\u00fdm dopl\u0148kem k akci\u00edm \u010di jin\u00fdm aktiv\u016fm, se kter\u00fdmi je spojena vy\u0161\u0161\u00ed m\u00edra rizika. <\/mark><\/p>\n\n\n\n<p><mark>U eToro m\u00e1te mo\u017enost <a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/courses\/investing-101\/\">investovat<\/a> do takov\u00fdch aktiv prost\u0159ednictv\u00edm ETF. ETF v\u00e1m nab\u00edzej\u00ed p\u0159\u00edle\u017eitost investovat velmi jednodu\u0161e a z\u00e1rove\u0148 v\u00e1m poskytuj\u00ed i v\u0161echny v\u00fdhody, kter\u00e9 jsou spojeny s investicemi s fixn\u00edm v\u00fdnosem. <\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Pro\u010d te\u010f?<\/h2>\n\n\n\n<p>V posledn\u00edch letech byly \u00farokov\u00e9 sazby na velmi n\u00edzk\u00fdch \u00farovn\u00edch. <strong>V\u00fdnosy z dluhopis\u016f jsou vypl\u00e1ceny na z\u00e1klad\u011b fixn\u00edch \u00farokov\u00fdch sazeb a ty tak byly tak\u00e9 n\u00edzk\u00e9.<\/strong> Pokud bereme v potaz i inflaci, kter\u00e1 krom\u011b jin\u00fdch nep\u0159\u00edzniv\u00fdch vliv\u016f tak\u00e9 sni\u017euje hodnotu dluhopisu, je pochopiteln\u00e9, \u017ee dluhopisy se staly m\u00e9n\u011b zaj\u00edmavou a vyhled\u00e1vanou investi\u010dn\u00ed mo\u017enost\u00ed.<\/p>\n\n\n\n<p>Situace se v\u0161ak zejm\u00e9na v posledn\u00edch m\u011bs\u00edc\u00edch pom\u011brn\u011b z\u00e1sadn\u011b m\u011bn\u00ed. M\u016f\u017eeme vid\u011bt zvy\u0161ov\u00e1n\u00ed \u00farokov\u00fdch sazeb, kter\u00e9 je n\u00e1strojem v boji proti vysok\u00e9 inflaci. <strong>D\u00edky tomu jsou v dne\u0161n\u00ed dob\u011b investice s fixn\u00edm v\u00fdnosem investi\u010dn\u00ed mo\u017enost\u00ed, kter\u00e1 dok\u00e1\u017ee p\u0159in\u00e9st zaj\u00edmav\u011bj\u0161\u00ed v\u00fdnosy, ne\u017e tomu bylo doned\u00e1vna.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> Zv\u00fd\u0161en\u00ed <a href=\"https:\/\/www.moneta.cz\/slovnik-pojmu\/detail\/co-je-urokova-sazba\" target=\"_blank\" rel=\"noreferrer noopener\">\u00farokov\u00fdch sazeb<\/a> negativn\u011b ovlivnilo akciov\u00fd trh. B\u011bhem obdob\u00ed volatility mohou b\u00fdt investice s fixn\u00edm v\u00fdnosem zaj\u00edmavou mo\u017enost\u00ed.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">V\u00fdhody dluhopisov\u00fdch ETF<\/h2>\n\n\n\n<p>Investov\u00e1n\u00ed do dluhopis\u016f m\u016f\u017ee b\u00fdt prov\u00e1d\u011bno dv\u011bma z\u00e1kladn\u00edmi zp\u016fsoby, kter\u00fdmi jsou <strong>investov\u00e1n\u00ed do jednotliv\u00fdch dluhopis\u016f a investov\u00e1n\u00ed do dluhopisov\u00fdch <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/discover\/markets\/etf\"><strong>ETF<\/strong><\/a><strong>, <\/strong>co\u017e jsou fondy obchodovan\u00e9 na burze.<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list wp-block-list-circle\">\n<li>Investov\u00e1n\u00ed do jednotliv\u00fdch dluhopis\u016f zahrnuje <strong>n\u00e1kup konkr\u00e9tn\u00edho dluhopisu vydan\u00e9ho vl\u00e1dou, spole\u010dnost\u00ed \u010di p\u0159\u00edpadn\u011b jin\u00fdm subjektem<\/strong>. To poskytuje investor\u016fm fixn\u00ed \u00farokovou sazbu a konkr\u00e9tn\u00ed datum splatnosti. Pokud investor dr\u017e\u00ed dluhopis a\u017e do data splatnosti, obdr\u017e\u00ed nomin\u00e1ln\u00ed hodnotu dluhopisu, tedy svou po\u010d\u00e1te\u010dn\u00ed investici, plus akumulovan\u00e9 \u00farokov\u00e9 platby.<\/li>\n\n\n\n<li>Investov\u00e1n\u00ed do dluhopisov\u00fdch ETF zase zahrnuje n\u00e1kupy akci\u00ed fondu, kter\u00fd je tvo\u0159en r\u016fzn\u00fdmi aktivy. <strong>Dluhopisov\u00e9 ETF nab\u00edzej\u00ed mo\u017enost <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/investing\/diversification-an-investors-best-bet-against-loss-aversion\/\"><strong>diverzifikace portfolia<\/strong><\/a><strong>,<\/strong> proto\u017ee jsou tvo\u0159eny r\u016fzn\u00fdmi dluhopisy, kter\u00e9 jsou vyd\u00e1v\u00e1ny r\u016fzn\u00fdmi entitami.<\/li>\n<\/ul>\n\n\n\n<p><mark>Dluhopisov\u00e9 ETF nab\u00edzej\u00ed i likviditu, co\u017e znamen\u00e1, \u017ee je m\u016f\u017eete nakupovat a prod\u00e1vat v pr\u016fb\u011bhu obchodn\u00edho dne. Dluhopisov\u00e9 ETF, na rozd\u00edl od klasick\u00fdch dluhopis\u016f, nab\u00edzej\u00ed mo\u017enost generovat v\u00fdnosy a z\u00e1rove\u0148 investor\u016fm poskytuj\u00ed p\u0159\u00edle\u017eitost upravovat svou expozici na trhu s dluhopisy pom\u011brn\u011b jednodu\u0161e a rychle.<\/mark><\/p>\n\n\n\n<p>V\u00fdb\u011br mezi investov\u00e1n\u00edm do jednotliv\u00fdch dluhopis\u016f nebo dluhopisov\u00fdch ETF z\u00e1vis\u00ed na tom, jak\u00e1 je situace dan\u00e9ho investora a na jeho preferenc\u00edch a investi\u010dn\u00edch c\u00edlech. Investice do jednotliv\u00fdch dluhopis\u016f m\u016f\u017ee b\u00fdt dobrou volbou pro ty investory, kte\u0159\u00ed maj\u00ed dan\u00fd <strong>konkr\u00e9tn\u00ed investi\u010dn\u00ed horizont a preferuj\u00ed p\u0159edv\u00eddateln\u00fd tok p\u0159\u00edjm\u016f<\/strong>.<\/p>\n\n\n\n<p>Dluhopisov\u00e9 ETF mohou b\u00fdt lep\u0161\u00ed volbou pro ty, kte\u0159\u00ed p\u0159i sv\u00fdch investic\u00edch s fixn\u00edm v\u00fdnosem hledaj\u00ed diverzifikaci a likviditu. <strong>Mnoho drobn\u00fdch investor\u016f m\u016f\u017ee pova\u017eovat investov\u00e1n\u00ed do dluhopisov\u00fdch ETF za dostupn\u011bj\u0161\u00ed<\/strong>, proto\u017ee vy\u017eaduj\u00ed z\u00e1sadn\u011b men\u0161\u00ed kapit\u00e1l ne\u017e investice do jednotliv\u00fdch dluhopis\u016f.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> Nakonec by se investo\u0159i m\u011bli p\u0159ed rozhodnut\u00edm poradit s finan\u010dn\u00edm poradcem a pe\u010dliv\u011b zv\u00e1\u017eit sv\u00e9 investi\u010dn\u00ed c\u00edle, toleranci rizika a dal\u0161\u00ed faktory.<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Pojmy, kter\u00e9 je pot\u0159eba zn\u00e1t<\/h2>\n\n\n\n<p>Zde v\u00e1m nab\u00edz\u00edme n\u011bkolik d\u016fle\u017eit\u00fdch v\u00fdraz\u016f, kter\u00e9 je pot\u0159eba zn\u00e1t, kdy\u017e investujete do dluhopis\u016f:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list wp-block-list-circle\">\n<li><strong>Dluhopisov\u00fd trh: <\/strong>Trh, kde se kupuj\u00ed a prod\u00e1vaj\u00ed dluhopisy, v\u010detn\u011b prim\u00e1rn\u00edch trh\u016f, kde se vyd\u00e1vaj\u00ed nov\u00e9 dluhopisy, a sekund\u00e1rn\u00edch trh\u016f, kde se obchoduje se st\u00e1vaj\u00edc\u00edmi dluhopisy.<\/li>\n\n\n\n<li><strong>Nomin\u00e1ln\u00ed hodnota: <\/strong>\u010c\u00e1stka, kterou emitent dluhopisu vr\u00e1t\u00ed investorovi p\u0159i splatnosti dluhopisu.<\/li>\n\n\n\n<li><strong>Kup\u00f3nov\u00e1 sazba: <\/strong>Pevn\u00e1 \u00farokov\u00e1 sazba, kterou emitent dluhopisu zaplat\u00ed investorovi, vyj\u00e1d\u0159en\u00e1 jako procento nomin\u00e1ln\u00ed hodnoty.<\/li>\n\n\n\n<li><strong>Datum splatnosti:<\/strong> Datum, kdy vypr\u0161\u00ed splatnost dluhopisu a emitent splat\u00ed investorovi nomin\u00e1ln\u00ed hodnotu dluhopisu.<\/li>\n\n\n\n<li><strong>V\u00fdnos do splatnosti (YTM):<\/strong> M\u00edra o\u010dek\u00e1van\u00e9 ro\u010dn\u00ed m\u00edry n\u00e1vratnosti dluhopisu, pokud je dr\u017een do data jeho splatnosti a v\u0161echny \u00farokov\u00e9 platby jsou reinvestov\u00e1ny se stejnou sazbou.<\/li>\n\n\n\n<li><strong>Trv\u00e1n\u00ed:<\/strong> M\u00edra citlivosti dluhopisu na zm\u011bny \u00farokov\u00fdch sazeb. Dluhopisy s del\u0161\u00ed dobou trv\u00e1n\u00ed jsou obecn\u011b citliv\u011bj\u0161\u00ed na zm\u011bny \u00farokov\u00fdch sazeb ne\u017e dluhopisy s krat\u0161\u00ed dobou trv\u00e1n\u00ed.<\/li>\n\n\n\n<li><strong>Call opce:<\/strong> Ustanoven\u00ed v n\u011bkter\u00fdch dluhopisech, kter\u00e9 umo\u017e\u0148uje emitentovi splatit dluhopis p\u0159ed datem jeho splatnosti. To m\u016f\u017ee b\u00fdt pro emitenta v\u00fdhodn\u00e9, pokud \u00farokov\u00e9 sazby od vyd\u00e1n\u00ed dluhopisu klesly, proto\u017ee m\u016f\u017ee emitovat nov\u00e9 dluhopisy za ni\u017e\u0161\u00ed \u00farokovou sazbu.<\/li>\n\n\n\n<li><strong>\u00dav\u011brov\u00fd rating:<\/strong> Rating poskytovan\u00fd ratingov\u00fdmi agenturami k posouzen\u00ed bonity emitenta dluhopisu, kter\u00fd m\u016f\u017ee odr\u00e1\u017eet schopnost a pravd\u011bpodobnost splacen\u00ed. Dluhopisy s vy\u0161\u0161\u00edm ratingem jsou obecn\u011b pova\u017eov\u00e1ny za m\u00e9n\u011b rizikov\u00e9.<\/li>\n\n\n\n<li><strong>\u00dav\u011brov\u00e9 riziko: <\/strong>Riziko, \u017ee emitent dluhopisu nebude schopen splatit investorovi nomin\u00e1ln\u00ed hodnotu dluhopisu. Dluhopisy vydan\u00e9 spole\u010dnostmi nebo vl\u00e1dami s ni\u017e\u0161\u00edm \u00fav\u011brov\u00fdm hodnocen\u00edm maj\u00ed obecn\u011b vy\u0161\u0161\u00ed riziko nespl\u00e1cen\u00ed.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">R\u016fzn\u00e9 typy dluhopis\u016f<\/h2>\n\n\n\n<p><strong>Treasury bills (T-Bills)<\/strong> jsou kr\u00e1tkodob\u00e9 dluhov\u00e9 cenn\u00e9 pap\u00edry vyd\u00e1van\u00e9 vl\u00e1dou USA, prod\u00e1van\u00e9 se slevou vzhledem k jejich nomin\u00e1ln\u00ed hodnot\u011b. To znamen\u00e1, \u017ee <strong>zaplat\u00edte m\u00e9n\u011b, a kdy\u017e p\u0159ijde datum splatnosti, dostanete zp\u011bt plnou nomin\u00e1ln\u00ed hodnotu<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-2-Concepts-to-know-1.png\" alt=\"\" class=\"wp-image-1049338 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-2-Concepts-to-know-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-2-Concepts-to-know-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p>T-Bills maj\u00ed r\u016fzn\u00e9 doby splatnosti, nap\u0159\u00edklad 4, 8, 13, 26 a 52 t\u00fddn\u016f. Obecn\u011b \u0159e\u010deno, \u010d\u00edm krat\u0161\u00ed je doba trv\u00e1n\u00ed dluhopisu, <strong>t\u00edm men\u0161\u00ed je pravd\u011bpodobnost, \u017ee bude m\u00edt velkou volatilitu<\/strong>. Pokud tedy investujete do T-Bills s krat\u0161\u00ed dobou trv\u00e1n\u00ed, budete m\u00edt ni\u017e\u0161\u00ed riziko ztr\u00e1ty pen\u011bz, pokud se \u00farokov\u00e9 sazby zm\u011bn\u00ed.<\/p>\n\n\n\n<p><strong>Dluhopisy s dlouhou dobou trv\u00e1n\u00ed jsou kryty americkou vl\u00e1dou<\/strong> \u2013 co\u017e z nich \u010din\u00ed velmi bezpe\u010dnou investi\u010dn\u00ed mo\u017enost \u2013 se splatnost\u00ed 10 let a v\u00edce. P\u0159esto\u017ee dluhopisy s dlouhou dobou trv\u00e1n\u00ed mohou b\u00fdt vystaveny vy\u0161\u0161\u00ed volatilit\u011b ceny ve srovn\u00e1n\u00ed s dluhopisy s kr\u00e1tkou dobou trv\u00e1n\u00ed, st\u00e1le m\u016f\u017eete v dlouhodob\u00e9m horizontu o\u010dek\u00e1vat dobrou n\u00e1vratnost sv\u00e9 investice.<\/p>\n\n\n\n<p>Korpor\u00e1tn\u00ed dluhopisy jsou <strong>vyd\u00e1v\u00e1ny spole\u010dnostmi, a ne vl\u00e1dami<\/strong>. Mohou tedy n\u00e9st \u00fav\u011brov\u00e9 riziko, na rozd\u00edl od st\u00e1tn\u00edch dluhopis\u016f, kter\u00e9 jsou pova\u017eov\u00e1ny za velmi bezpe\u010dn\u00e9. Jako kompenzaci zv\u00fd\u0161en\u00e9ho rizika v\u0161ak nab\u00edzej\u00ed vy\u0161\u0161\u00ed v\u00fdnosy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-3-Investing-in-practice-1.png\" alt=\"\" class=\"wp-image-1049360 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-3-Investing-in-practice-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/Body-Image-3-Investing-in-practice-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">P\u0159eveden\u00ed do praxe<\/h2>\n\n\n\n<p><mark>Americk\u00fd trh s dluhopisy je nejv\u011bt\u0161\u00ed na sv\u011bt\u011b s celkovou hodnotou p\u0159es 50 bilion\u016f USD a skl\u00e1d\u00e1 se ze t\u0159\u00ed hlavn\u00edch typ\u016f dluhopis\u016f: st\u00e1tn\u00edch dluhopis\u016f, korpor\u00e1tn\u00edch dluhopis\u016f a dluhopis\u016f zaji\u0161t\u011bn\u00fdch hypot\u00e9kami (MBS \u2013 mortgage-backed securities). Na trhu t\u00e9to velikosti je zjevn\u011b mnoho p\u0159\u00edle\u017eitost\u00ed pro investice s fixn\u00edm v\u00fdnosem. <\/mark><\/p>\n\n\n\n<blockquote class=\"wp-block-quote wp-block-quote-scheme-green is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Pokud investujete a nediverzifikujete, doslova vyhazujete pen\u00edze. Lid\u00e9 si neuv\u011bdomuj\u00ed, \u017ee diverzifikace je prosp\u011b\u0161n\u00e1, i kdy\u017e sni\u017euje va\u0161i n\u00e1vratnost. Pro\u010d? Proto\u017ee to je\u0161t\u011b v\u00edce sni\u017euje va\u0161e riziko. Pokud tedy diverzifikujete a pot\u00e9 pou\u017eijete mar\u017ei ke zv\u00fd\u0161en\u00ed p\u00e1kov\u00e9ho efektu na \u00farove\u0148 rizika ekvivalentn\u00ed \u00farovni nediverzifikovan\u00e9 pozice, v\u00e1\u0161 v\u00fdnos bude pravd\u011bpodobn\u011b vy\u0161\u0161\u00ed.<\/p>\n<cite>\u2014<a href=\"https:\/\/due.com\/keep-all-your-investments-diversified\/\" rel=\"nofollow noopener noreferrer\" > Jeff Yass<\/a><\/cite><\/blockquote>\n\n\n\n<p>P\u0159\u00edkladem toho, jak diverzifikovat sv\u00e9 portfolio investov\u00e1n\u00edm na americk\u00e9m trhu s dluhopisy, m\u016f\u017ee b\u00fdt investice do <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/bnd\">Vanguard Total Bond Market ETF<\/a>. BND je <strong>nejv\u011bt\u0161\u00ed fond s fixn\u00edm v\u00fdnosem na sv\u011bt\u011b s aktivy p\u0159es 80 miliard dolar\u016f<\/strong>. Tento fond investuje do \u0161irok\u00e9 \u0161k\u00e1ly dluhopis\u016f, do jeho portfolia pat\u0159\u00ed kr\u00e1tkodob\u00e9 st\u00e1tn\u00ed dluhopisy, kter\u00e9 jsou spojeny s n\u00edzk\u00fdm rizikem, ale tak\u00e9 korpor\u00e1tn\u00ed a hypote\u010dn\u00ed dluhopisy, kter\u00e9 p\u0159in\u00e1\u0161ej\u00ed vy\u0161\u0161\u00ed riziko.<\/p>\n\n\n\n<p>BND v\u00e1m nab\u00edz\u00ed n\u00e1sleduj\u00edc\u00ed:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list wp-block-list-circle\">\n<li>V\u00fdnos do splatnosti 4,3 %*<\/li>\n\n\n\n<li>Pr\u016fm\u011brn\u00e1 doba trv\u00e1n\u00ed 6,6 let<\/li>\n\n\n\n<li>Udr\u017euje vysokou \u00fav\u011brovou kvalitu investov\u00e1n\u00edm pouze do dluhopis\u016f, kter\u00e9 maj\u00ed rating investi\u010dn\u00edho stupn\u011b<\/li>\n\n\n\n<li>Zaji\u0161\u0165uje velmi dob\u0159e diverzifikovan\u00e9 portfolio d\u00edky v\u00edce ne\u017e 10 000 jednotliv\u00fdm pod\u00edl\u016fm<\/li>\n<\/ul>\n\n\n\n<p><em>*Data k 28. \u00fanoru 2023.<\/em><\/p>\n\n\n\n<p><strong>Slo\u017een\u00ed portfolia<\/strong><\/p>\n\n\n\n<p>*k 31\/01\/2023<br><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th>Z\u00e1kladn\u00ed informace<\/th><th>BND<\/th><\/tr><\/thead><tbody><tr><td>Po\u010det dluhopis\u016f<\/td><td>10164<\/td><\/tr><tr><td>V\u00fdnos do splatnosti<\/td><td>4.3%<\/td><\/tr><tr><td>Pr\u016fm\u011brn\u00e1 efektivn\u00ed splatnost<\/td><td>8,9 let<\/td><\/tr><\/tbody><\/table><\/div><\/div><figcaption class=\"wp-element-caption\">*k 31. 1. 2023<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Diverzifikace aktiv v r\u00e1mci portfolia BND<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th>Typ emitenta<\/th><th>% prost\u0159edk\u016f<\/th><\/tr><\/thead><tbody><tr><td>Zaji\u0161t\u011bn\u00e9 aktivy<\/td><td>0.50%<\/td><\/tr><tr><td>Zaji\u0161t\u011bn\u00e9 komer\u010dn\u00ed hypot\u00e9kou<\/td><td>2%<\/td><\/tr><tr><td>Finan\u010dn\u00ed<\/td><td>9%<\/td><\/tr><tr><td>Zahrani\u010dn\u00ed<\/td><td>3.50%<\/td><\/tr><tr><td>Zaji\u0161t\u011bn\u00e9 vl\u00e1dn\u00ed hypot\u00e9kou<\/td><td>20.30%<\/td><\/tr><tr><td>Pr\u016fmyslov\u00e9<\/td><td>15.60%<\/td><\/tr><tr><td>Ostatn\u00ed<\/td><td>0.80%<\/td><\/tr><tr><td>St\u00e1tn\u00ed<\/td><td>46.10%<\/td><\/tr><tr><td>Komun\u00e1ln\u00ed slu\u017eby<\/td><td>2.20%<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Rizika: co pot\u0159ebujete v\u011bd\u011bt<\/h2>\n\n\n\n<p>Je velmi d\u016fle\u017eit\u00e9, abyste si byli v\u011bdomi toho, \u017ee podobn\u011b jako u jak\u00e9koliv jin\u00e9 investice, i <strong>dluhopisy s sebou nesou jist\u00e1 rizika<\/strong>. Tato rizika byste m\u011bli br\u00e1t v potaz je\u0161t\u011b p\u0159edt\u00edm, ne\u017e budete investovat:<\/p>\n\n\n\n<p><strong>\u00darokov\u00e9 riziko:<\/strong> Dluhopisy jsou citliv\u00e9 na zm\u011bny \u00farokov\u00fdch sazeb a jak \u00farokov\u00e9 sazby rostou, ceny dluhopis\u016f maj\u00ed tendenci klesat a naopak. <strong>Pokud tedy dr\u017e\u00edte dluhopis a \u00farokov\u00e9 sazby rostou, hodnota va\u0161eho dluhopisu se m\u016f\u017ee sn\u00ed\u017eit<\/strong>.<\/p>\n\n\n\n<p><strong>Infla\u010dn\u00ed riziko:<\/strong> Inflace m\u016f\u017ee <strong>naru\u0161it kupn\u00ed s\u00edlu fixn\u00edch \u00farokov\u00fdch plateb p\u0159ijat\u00fdch z dluhopisu<\/strong>, co\u017e m\u016f\u017ee v\u00e9st ke ztr\u00e1t\u011b hodnoty pro investora.<\/p>\n\n\n\n<p><strong>Call riziko:<\/strong> Toto riziko vznik\u00e1, kdy\u017e se emitent rozhodne pro \u201ecall back\u201c neboli odkoupen\u00ed dluhopisu p\u0159ed datem jeho splatnosti. To m\u016f\u017ee v\u00e9st k tomu, \u017ee <strong>investor obdr\u017e\u00ed m\u00e9n\u011b, ne\u017e byl o\u010dek\u00e1van\u00fd v\u00fdnos<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip: <\/strong>Jednou z v\u00fdhod investov\u00e1n\u00ed do dluhopisov\u00fdch ETF je diverzifikovan\u00e1 expozice v\u016f\u010di mnoha n\u00e1stroj\u016fm \u2013 co\u017e m\u016f\u017ee sn\u00ed\u017eit dopad selh\u00e1n\u00ed jedin\u00e9ho n\u00e1stroje, pokud by k n\u011bmu p\u0159\u00edpadn\u011b do\u0161lo.<\/p>\n<\/div><\/div>\n\n\n\n<p><strong>Riziko likvidity:<\/strong> Jedn\u00e1 se o riziko, \u017ee <strong>dluhopis nemus\u00ed b\u00fdt snadno obchodovateln\u00fd<\/strong> nebo \u017ee na trhu v dob\u011b prodeje nemus\u00ed b\u00fdt dostatek kupuj\u00edc\u00edch, co\u017e m\u016f\u017ee v\u00e9st k tomu, \u017ee investor obdr\u017e\u00ed ni\u017e\u0161\u00ed cenu, ne\u017e p\u016fvodn\u011b o\u010dek\u00e1val.<\/p>\n\n\n\n<p><strong>\u00dav\u011brov\u00e9 riziko:<\/strong> Jedn\u00e1 se o riziko, \u017ee <strong>emitent dluhopisu nedok\u00e1\u017ee splnit sv\u00e9 z\u00e1vazky<\/strong>. \u00dav\u011brov\u00e9 riziko je vy\u0161\u0161\u00ed u dluhopis\u016f vydan\u00fdch spole\u010dnostmi s ni\u017e\u0161\u00edm \u00fav\u011brov\u00fdm ratingem nebo u dluhopis\u016f vydan\u00fdch zem\u011bmi s m\u00e9n\u011b stabiln\u00ed ekonomikou.<\/p>\n\n\n\n<p>P\u0159ed investov\u00e1n\u00edm do dluhopis\u016f <strong>je d\u016fle\u017eit\u00e9 zv\u00e1\u017eit tato rizika<\/strong> a potenci\u00e1ln\u00ed dopad na va\u0161i investici.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th>\u00dav\u011brov\u00fd rating<\/th><th>% prost\u0159edk\u016f<\/th><\/tr><\/thead><tbody><tr><td>Vl\u00e1da USA<\/td><td>67.4%<\/td><\/tr><tr><td>AAA<\/td><td>3.60%<\/td><\/tr><tr><td>AA<\/td><td>2.90%<\/td><\/tr><tr><td>A<\/td><td>12.00%<\/td><\/tr><tr><td>BBB<\/td><td>14.10%<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Shrnut\u00ed<\/h2>\n\n\n\n<p><mark>Dluhopisy jsou nejobchodovan\u011bj\u0161\u00ed t\u0159\u00eddou aktiv na sv\u011bt\u011b s odhadovanou glob\u00e1ln\u00ed hodnotou p\u0159ibli\u017en\u011b <a href=\"https:\/\/www.etoro.com\/news-and-analysis\/in-depth-analysis\/bonds-set-for-a-comeback\/\">130 bilion\u016f dolar\u016f<\/a>. <\/mark><\/p>\n\n\n\n<p>A\u010dkoli v posledn\u00edch letech dluhopisy obecn\u011b pom\u011brn\u011b prudce upadly v nemilost investor\u016f, kdy\u017e je zas\u00e1hla dvojn\u00e1sobn\u00e1 r\u00e1na v podob\u011b rekordn\u011b n\u00edzk\u00fdch \u00farok\u016f a tak\u00e9 vysok\u00e9 inflace,tak v posledn\u00ed dob\u011b, kdy \u00faroky rostou, se otev\u00edraj\u00ed nov\u00e9 p\u0159\u00edle\u017eitosti. <\/p>\n\n\n\n<p>Dluhopisov\u00e9 ETF mohou p\u0159edstavovat obzvl\u00e1\u0161t\u011b atraktivn\u00ed p\u0159\u00edle\u017eitost pro investory, proto\u017ee <strong>kombinuj\u00ed v\u00fdhody dluhopis\u016f jako aktiva s v\u00fdhodami fondu obchodovan\u00e9ho na burze<\/strong>, zejm\u00e9na diverzifikaci a likviditu.<\/p>\n\n\n\n<p>Pokud chcete zjistit v\u0161e d\u016fle\u017eit\u00e9 o tom, <strong>co v\u00e1m mohou nab\u00eddnout investice s fixn\u00edm p\u0159\u00edjmem<\/strong>, nav\u0161tivte <strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/\">eToro akademii<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u010cast\u00e9 dotazy<\/h2>\n\n\n\n<dl class=\"wp-block-etoro-faq\">\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak\u00e9 faktory mohou ovlivnit cenu dluhopisu?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Zm\u011bny \u00farokov\u00fdch sazeb, inflace a fluktuace m\u011bn mohou ovlivnit hodnotu dluhopisu. Ale pokud rozum\u00edte <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/risk-management\/\">rizik\u016fm<\/a> a jste ochotni dr\u017eet svou investici do data splatnosti, dluhopisy s dlouhou dobou trv\u00e1n\u00ed by mohly b\u00fdt cenn\u00fdm dopl\u0148kem va\u0161eho portfolia, kter\u00fd je spojen s n\u00edzkou \u00farovn\u00ed rizika.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak m\u00e1m vyhodnotit, kter\u00e9 dluhopisy maj\u00ed vy\u0161\u0161\u00ed investi\u010dn\u00ed riziko?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Dluhopisy z\u00edsk\u00e1vaj\u00ed <a href=\"https:\/\/www.fxstreet.cz\/rating-sp-moodys-a-fitch.html\" rel=\"nofollow noopener noreferrer\" >rating<\/a>, obvykle za\u010d\u00ednaj\u00ed na AAA jako nejm\u00e9n\u011b rizikov\u00e9. Obvykle tento rating dluhopis\u016f poskytuj\u00ed t\u0159i spole\u010dnosti, ale v\u0161echny se \u0159\u00edd\u00ed velmi podobn\u00fdm postupem. D\u00e1vejte si pozor zejm\u00e9na na ur\u010dit\u00e9 investice, jako jsou dluhopisy, kter\u00e9 maj\u00ed hodnocen\u00ed Ba1\/BB+ nebo ni\u017e\u0161\u00ed, co\u017e nazna\u010duje zvl\u00e1\u0161t\u011b vysok\u00e9 riziko, kter\u00e9 je s t\u011bmito dluhopisy spojeno.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jsou cenn\u00e9 pap\u00edry dobrou volbou pro diverzifikovan\u00e9 portfolio?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Cenn\u00e9 pap\u00edry a T-Bills jsou kr\u00e1tkodob\u00e9 investice, a proto mohou b\u00fdt u\u017eite\u010dn\u00fdm dopl\u0148kem aktiv s vy\u0161\u0161\u00edm rizikem, jako jsou <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/stock-investing-course-summary\/\">akcie<\/a>. Poskytuj\u00ed prost\u0159edky k uchov\u00e1n\u00ed kapit\u00e1lu a z\u00edsk\u00e1n\u00ed p\u0159edv\u00eddateln\u00e9ho v\u00fdnosu. Jen pamatujte na to, \u017ee jako ka\u017ed\u00e1 investice jsou s nimi spojena rizika, tak\u017ee nejd\u0159\u00edve prove\u010fte podrobn\u00fd pr\u016fzkum a investujte rozumn\u011b!<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak inflace ovliv\u0148uje ceny dluhopis\u016f?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Existuje zde siln\u00e1, i kdy\u017e nep\u0159\u00edm\u00e1 vazba. Ceny dluhopis\u016f reaguj\u00ed na \u00farokov\u00e9 sazby, kter\u00e9 ovliv\u0148uje pr\u00e1v\u011b inflace. P\u0159i vysok\u00e9 inflaci centr\u00e1ln\u00ed banky sazby zvy\u0161uj\u00ed, co\u017e vede k poklesu cen star\u0161\u00edch dluhopis\u016f, proto\u017ee investo\u0159i preferuj\u00ed hotovost nebo nov\u00e9 dluhopisy s vy\u0161\u0161\u00edm v\u00fdnosem.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak ovliv\u0148uje kreditn\u00ed rating v\u00fdnosy dluhopis\u016f?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>V\u00fdnosy (kup\u00f3ny) jsou fixn\u00ed, ale pokud ratingov\u00e1 agentura sn\u00ed\u017e\u00ed hodnocen\u00ed dluhopisu, \u010d\u00e1st investor\u016f m\u016f\u017ee kv\u016fli vy\u0161\u0161\u00edmu riziku selh\u00e1n\u00ed pozice prodat, co\u017e obvykle tla\u010d\u00ed cenu dluhopisu dol\u016f. Dr\u017eitel\u00e9 st\u00e1vaj\u00edc\u00edch pozic d\u00e1l inkasuj\u00ed stejn\u00fd kup\u00f3n, ale nov\u00ed kupci, kte\u0159\u00ed dluhopis nakoup\u00ed levn\u011bji, z\u00edskaj\u00ed vy\u0161\u0161\u00ed efektivn\u00ed v\u00fdnos do splatnosti (yield).<\/p>\n<\/dd><\/div>\n<\/dl>\n\n\n\n\t\t<style>\n\t\t\t.rtl .etoro-block-shortcode-disclaimer {\n\t\t\t\ttext-align:right;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\tmargin-bottom:18px;\n\t\t\t\ttext-align:left;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer p{\n\t\t\t\tfont-size: 12px;\n\t\t\t\tline-height: 18px;\n\t\t\t}\n\t\t\t@media (min-width: 768px) {\n\t\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\t\tmax-width:1176px;\n\t\t\t\t\ttext-align:center;\n\t\t\t\t}\n\t\t\t\t.etoro-block-shortcode-disclaimer p {\n\t\t\t\t\tfont-size: 14px;\n\t\t\t\t\tline-height: 20px;\n\t\t\t\t}\n\t\t\t}\n\t\t<\/style>\n\t\t<div class='etoro-block-shortcode-disclaimer'><p>Tyto informace slou\u017e\u00ed pouze pro vzd\u011bl\u00e1vac\u00ed \u00fa\u010dely a nelze je pova\u017eovat za investi\u010dn\u00ed poradenstv\u00ed, osobn\u00ed doporu\u010den\u00ed, nab\u00eddku nebo v\u00fdzvu k n\u00e1kupu \u010di prodeji jak\u00fdchkoli finan\u010dn\u00edch n\u00e1stroj\u016f.<\/p>\n<p>Tento materi\u00e1l byl p\u0159ipraven bez ohledu na konkr\u00e9tn\u00ed investi\u010dn\u00ed c\u00edle nebo finan\u010dn\u00ed situaci a nebyl p\u0159ipraven v souladu s pr\u00e1vn\u00edmi a regula\u010dn\u00edmi po\u017eadavky na podporu nez\u00e1visl\u00e9ho v\u00fdzkumu.<\/p>\n<p><strong>Ne v\u0161echny zmi\u0148ovan\u00e9 finan\u010dn\u00ed n\u00e1stroje a slu\u017eby jsou nab\u00edzeny na eToro<\/strong> a jak\u00e9koli odkazy na minulou v\u00fdkonnost finan\u010dn\u00edho n\u00e1stroje, indexu nebo investi\u010dn\u00edho produktu nejsou a nem\u011bly by b\u00fdt pova\u017eov\u00e1ny za spolehliv\u00fd ukazatel budouc\u00edch v\u00fdsledk\u016f. <strong>Dostupnost v\u0161ech v\u00fd\u0161e uveden\u00fdch produkt\u016f a slu\u017eeb se m\u016f\u017ee li\u0161it v z\u00e1vislosti na jurisdikci a zemi.<\/strong><\/p>\n<p>eToro nezaru\u010duje p\u0159esnost ani \u00faplnost obsahu tohoto pr\u016fvodce a nep\u0159eb\u00edr\u00e1 v tomto ohledu \u017e\u00e1dnou odpov\u011bdnost. P\u0159ed vlo\u017een\u00edm kapit\u00e1lu se ujist\u011bte, \u017ee rozum\u00edte rizik\u016fm spojen\u00fdm s obchodov\u00e1n\u00edm. Nikdy neriskujte v\u00edce, ne\u017e jste p\u0159ipraveni ztratit.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mezi investice s fixn\u00edm v\u00fdnosem pat\u0159\u00ed nap\u0159. dluhopisy. Jedn\u00e1 se o investi\u010dn\u00ed aktivum, kter\u00e9 sv\u00fdm investor\u016fm p\u0159in\u00e1\u0161\u00ed pravideln\u00fd a fixn\u00ed v\u00fdnos. Mezi investory se dluhopisy op\u011bt st\u00e1vaj\u00ed zaj\u00edmavou investi\u010dn\u00ed p\u0159\u00edle\u017eitost\u00ed a nen\u00ed to nijak p\u0159ekvapiv\u00e9. Dluhopisy v\u00e1m toti\u017e dok\u00e1\u017eou nab\u00eddnout pom\u011brn\u011b zaj\u00edmav\u00e9 v\u00fdnosy, a to a\u017e kolem 4 % a v\u00edce. Co jsou to investice&hellip;<\/p>\n","protected":false},"author":101,"featured_media":771251,"parent":19761,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"sticky_cta_settings":"","footnotes":""},"asset_type":[],"class_list":["post-578677","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<title>Investice s fixn\u00edm v\u00fdnosem: jak investovat do dluhopis\u016f<\/title>\n<meta name=\"description\" content=\"Zjist\u011bte v\u00edce o investic\u00edch s fixn\u00edm v\u00fdnosem, jako jsou dluhopisy a dluhopisov\u00e9 ETF, kter\u00e9 poskytuj\u00ed pravideln\u00fd p\u0159\u00edjem s ni\u017e\u0161\u00edm rizikem ne\u017e tradi\u010dn\u00ed investice\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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