Net Asset Value
Definition
The per-share value of a fund's total assets minus liabilities, calculated daily for mutual funds.
Explanation
NAV = (Total Assets - Total Liabilities) / Shares Outstanding. Mutual funds trade at NAV. Closed-end funds can trade at premiums or discounts to NAV. A closed-end fund trading at a 15% discount to NAV means investors can buy $1 of assets for $0.85. Stoquity displays NAV for each portfolio, calculated from the market value of all holdings minus any liabilities.
Formula
NAV = (Total Assets - Liabilities) / Shares Outstanding