The cumulative net value is the net value of the fund since its establishment to date. The total value is taken into account regardless of whether there are dividends or splits during the period.

The net value per unit is the current price after excluding dividends and splits.

For example, when a fund rises from 1 yuan to 1.5 yuan and pays 2 cents in dividends, then the unit net value is 1.5-0.2=1.3, and the cumulative net value is still 1.5

Then it continues to rise. , rose from 1.3 to 1.8. At this time, 4 cents are distributed again, then the net value of the unit is 1.8-0.4=1.4, and the cumulative net value is still 1.8 regardless of these.

The same is true for splitting, if it rises to 1.8 When it is not a dividend but a split, then the net value of the unit returns to 1 yuan, but the cumulative net value is still 1.8

Does this make sense?