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Net Asset Value (NAV)

Trading Term

Net Asset Value (NAV) is the per-share value of a mutual fund, exchange-traded fund (ETF), or other pooled investment at the end of a trading day. It represents the fund’s total value, minus its liabilities, divided by the number of outstanding shares.

NAV = Total Assets−Total Liabilities / Number of Outstanding Shares

Imagine a mutual fund owns $10 million worth of stocks and bonds and owes $100,000 in expenses. It has 1 million shares outstanding.

NAV= 10,000,000 − 100,000 / 1,000,000 =$9.90

So, the NAV is $9.90 per share. If you want to buy into this fund, that’s the price you’d pay per share (not including fees).

  • Calculated daily at market close (usually 4 p.m. ET in the U.S.)
  • Used to price mutual funds—but not ETFs, which trade like stocks and have prices that change throughout the day
  • NAV doesn’t reflect market demand or future potential—just the fund’s current accounting value

IBKR Statements – NAV

Net Asset Value (NAV) represents the total value of an account’s holdings. The NAV section of statements shows both Starting and Ending NAV for the reporting period, with all values displayed in the base currency. The report includes:

  • Starting NAV showing total values across asset classes
  • Ending NAV broken down into:
    • Long positions
    • Short positions
    • Total values
  • Change amount between start and end of period
  • Time Weighted Rate of Return percentage
  • Change in NAV details including:
    • Mark-to-Market changes
    • Interest
    • Fees and commissions
    • Dividends
    • Deposits/withdrawals
    • Position transfers
    • FX translations
    • Other account activities

Values are provided for each asset class and totaled at the bottom of the section.

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