GlossaryETFs & Index Funds

NAV

Net asset value — the per-share value of a fund's underlying holdings (total assets minus liabilities, divided by the number of shares). A fund's market price can trade slightly above or below its NAV.

Related terms

ETF Expense Ratio Tracking Error

Related lessons

beginnerETFs & Index Funds

What Is An ETF?

A complete guide to exchange-traded funds: what they are, how they deliver instant diversification, how they track an index, why low costs matter so much, the main types, and the risks.

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