You may be mistaken. It should be that the stock market rose 1% and the net value of the fund fell by 0.2%. The so-called fund rise is the increase in the net value of the fund. It is normal for the fund net value to be inconsistent with the stock market, but there is a problem if it is consistent. For example, the fund may be heavy in small and medium-sized stocks. On a certain day, the market (Shanghai Composite Index) rose, which means that some large-cap stocks rose better, while small and medium-cap stocks fell. Of course, the net fund value of small and medium-sized stocks with heavy positions has fallen ... this is a popular saying.