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What does the net fund value below 1 mean?
The net fund value is less than 1 because the accumulated net fund value is equal to the net fund share value after deducting dividends.

Net value of fund unit: refers to the current total net assets of the fund divided by the total share of the fund. People usually refer to funds mainly as securities investment funds.

Net value of fund shares = (total assets-total liabilities)/total number of fund shares

Among them, total assets refer to all assets owned by the fund, including stocks, bonds, bank deposits and other securities; Total liabilities refer to liabilities arising from fund operation and financing, including expenses payable to others, interest payable on funds, etc. The total number of fund shares refers to the total number of fund shares issued at that time.