The net asset value of a fund is the value of the fund assets calculated at the current price, usually at the closing price. Public Offering of Fund publishes its net value once every trading day, while private equity funds publish its net value irregularly.

Valuation refers to the value of fund assets estimated by other institutions or investors according to their published portfolio and asset price before the fund company has announced its net value. The valuation is not necessarily calculated according to the closing price, and can be published continuously in real time.

The total value is the total value of the fund's net asset value plus dividend cash. Because a single net value comparison may not reflect the return of the fund to investors through dividends, the appreciation of the fund assets is comprehensively estimated by comparing the growth of the total value of the fund.