The cumulative net asset value of an index fund (referred to as cumulative NAV or CNAV) refers to the sum of the net assets of all shares of the fund since its establishment. In other words, it is the sum of all net worth shares in the history of the fund. Cumulative net value can be used to evaluate the overall performance of the fund and also to calculate the income of investors.

During the operation of an index fund, the fund manager will regularly calculate its net value and announce the net value of the day after the trading day, which is usually called daily NAV. Cumulative net value can be used to reflect the cumulative performance of the fund since its establishment. For example, if the total net value of all shares of an index fund is 6.5438+million yuan since its establishment two years ago, then the accumulated net value of the fund is 6.5438+million yuan.

It should be noted that the cumulative net value of index funds does not consider the inflow and outflow of funds, so the cumulative net value of different time periods cannot be directly compared. If it is necessary to compare the performance of the fund, the rate of return in the same period should be used for comparison.