Holding income is not necessarily earning. Holding income only describes the profit and loss of funds or stocks held by investors now. If this fund or stock is making a profit, then the holding income that investors see is positive. If a fund or stock loses money, investors will find that the holding income is negative.

As for whether investors profit from fund trading or stock trading, it depends on the accumulated income of investors. Cumulative income is the income obtained by comprehensively calculating the income of all investors' previous transactions, and it is the real income of investors in the whole investment process. If the cumulative income shows a positive number, it means that investors are profitable in the whole trading process; If the cumulative income is negative, it means that investors have lost money in the whole trading process.

In order to distinguish between holding income and accumulated income, let's give an example to illustrate. Suppose an investor who just started investing in a fund bought a fund. Ten days after purchasing this fund, the investor's holding income from holding this fund is 100 yuan. As this is the investor's first transaction, the accumulated income of the Fund is equal to the holding income, both of which are 100 yuan.

Investors subsequently sold the fund. Then the investor bought the fund 10 days after selling, but lost 50 yuan. Then the investor's holding income at this time is -50 yuan, and the investor's accumulated income is 100+(-50)=50 yuan.