Betta Signals

Learn · Funds and products

Net asset value (NAV)

NAV is the value of a fund's assets minus its liabilities, generally expressed on a per-share basis at a stated valuation time.

By Betta Signals Research Desk · Reviewed October 24, 2026

Plain-English definition: NAV is the value of a fund's assets minus its liabilities, generally expressed on a per-share basis at a stated valuation time.[1]

How the term is used

Open-end mutual funds generally transact at the next calculated NAV. ETF shares trade during the day at market prices that may be above or below the fund's NAV.[2]

What to check before relying on it

Record the valuation time, currency, share count, stale-price policy, and whether the figure is official or estimated. A discount or premium compares market price with NAV at compatible times.

Example

If a fund has $102 million in assets, $2 million in liabilities, and 10 million shares, its NAV is $10 per share.

Exchange-traded fund (ETF)Closed-end fundDistribution

Research last reviewed: October 24, 2026. This definition is educational and does not evaluate a particular security.

Sources

  1. Investor.gov: Net Asset Value — fund assets minus liabilities expressed on a per-share basis. Accessed October 24, 2026.
  2. Investor.gov: Characteristics of Mutual Funds and ETFs — how mutual funds and ETFs issue shares, trade, calculate NAV, and charge expenses. Accessed October 24, 2026.