Net asset value
A fund's assets minus liabilities, divided by units outstanding.
Plain languagePractical exampleConnected reading
01
What is it?
A fund's assets minus liabilities, divided by units outstanding.
02
Why does it matter?
It anchors fund performance and premium/discount analysis for exchange-traded products.
03
How should it be read?
Check valuation time, methodology and whether the figure is intraday or end-of-day.
04
Common mistake
Treating NAV as identical to an ETF's live market price.
A simple example
If NAV is 100 and the ETF trades at 101, it carries about a 1% premium.