The reason for this is the following：
The great change in the net value of ETF funds is due to the conversion of share conversion funds. This "great change" is not the performance of the fund's real performance, but the transformation in the middle. It turns out that ETF funds usually convert their shares according to the underlying index price after opening positions. However, if investors compare the changes before and after the fund situation according to the net value and scale before the conversion, it is easy to misunderstand and even affect the investment.
Fund share conversion refers to adjusting the total amount of fund shares according to a certain proportion under the premise that the net asset value of the fund remains unchanged, so that the net asset value of the fund unit decreases accordingly. After the share conversion, the total amount of fund shares and the number of fund shares held by the holders will be adjusted, but the adjusted proportion of fund shares held by the holders in the total amount of fund shares will remain unchanged. The conversion of shares has no substantial impact on the rights and interests of the holders. For details, please refer to the relevant announcements of fund share conversion.