Plain-English definitions, reviewed by an independent investor
NAV (Net Asset Value)
NAV is a fund’s per-share value: total assets minus liabilities divided by shares.
NAV is a fund’s per-share value: total assets minus liabilities divided by shares.
NAV = (Assets − Liabilities) ÷ Shares
Why it matters
It is the fair price of a fund’s holdings, the backbone of fund pricing.
Common confusion
ETFs trade near NAV; closed-end funds can wander far from it.
Frequently Asked Questions
NAV vs price?
NAV is the value; the market price can sit above or below it.
When is NAV set?
Funds price NAV once daily after the market closes.