The net value of the fund is the report card of the fund on that day, and the accumulated net value is the report card since the establishment of the fund. The net fund value, exactly, is called the net fund share value, which refers to the actual value of each fund share at a certain point in time. This formula can be used to calculate: net asset value of fund on day T = (T total assets of fund on day T-total liabilities of fund on day T)/total number of fund shares issued on day T. You will find that all the values in the formula are real-time data except the total liabilities, so the net value of fund shares can directly reflect the performance of the fund in real time, and people can understand the operation of the fund through it. The cumulative net value of fund shares includes the previous dividend amount, so the cumulative net value of fund shares = the net value of fund shares+the cumulative dividend amount of shares after the establishment of the fund. The cumulative net value of fund shares can fully reflect the historical performance in the process of fund operation, and investors should pay attention to the cumulative net value of fund shares when evaluating fund performance.