First, because loss-making funds are not allowed to pay dividends, fund dividends generally need to meet the following conditions:

1, the fund can only be distributed after the current year's income makes up for the previous year's loss.

2. After the fund income is distributed, the unit net value cannot be lower than the face value (the net value is greater than 1).

3. If the fund investment has a net loss in the current period, it can't pay dividends.

Second, dividend reinvestment If there is no dividend, there will be no reinvestment.

Therefore, these two situations have no impact on loss-making funds. In other words, there is no difference.