Holders of Distribution Shares receive any income generated by these shares as a payment on specific distribution dates. In contrast, holders of Accumulation Shares do not receive income payments. Instead, the income is automatically reinvested into the fund.
Accumulation shares appear to grow more in value because the income is reinvested, which can result in a difference in share price between the two share classes. However, in terms of total returns, both accumulation and distribution shares perform the same, assuming the income from distribution shares is reinvested effectively.