Because investors hold multiple funds, and some funds are losing money. Cumulative income refers to the income generated by all funds in the fund account, including the buying and selling of all funds, while holding income refers to the income since holding a single fund. If the cumulative income is less than holding income, it means that multiple funds are losing money together. The difference between accumulated income and held income

1. Different definitions: accumulated income refers to the accumulated loss or income of all funds bought and sold, which refers to the rate of return in a specific period of time, while held income only counts as the income of held funds;

2. The calculation method is different: the cumulative rate of return reflects the efficiency of the fund's income over a period of time, the cumulative income is the sum of the income of investors after holding the fund, and the income of fund holding is the cumulative income during the fund holding period;

3. Different characteristics: the accumulated income of the fund is equivalent to the total income, which is the sum of all the income generated by investors since their investment, including the redeemed dividends, funds and other income. And holding the fund = the latest market value of the fund-holding cost is the cumulative income during the fund holding period.