About the NAV Calculator
Net asset value (NAV) is the per-unit value of a mutual fund, ETF, unit trust or investment company: everything the fund owns at market value, minus everything it owes, divided by the number of units or shares outstanding. This NAV calculator walks through that calculation line by line — investments, cash and receivables, accrued income, liabilities and accrued expenses — and returns the NAV per unit and total net assets.
It is handy for students learning fund accounting, investors checking a fact sheet or annual report, treasurers of investment clubs and small partnerships that price their own units, and anyone wondering how many units a lump-sum investment will buy. Add an exit load to see the redemption price, and a previous NAV to see the day’s change.
Real funds value holdings at closing prices under their valuation policy and accrue fees daily, so published NAVs may include items not listed here. Entry and exit loads are applied as a simple percentage of NAV; check your fund’s offer document for the exact charges.
With the default inputs, the nav per unit is $17.5833. Change any value above to recalculate instantly.
How to use the nav calculator
- 1Enter the market value of the fund’s investments, then cash, receivables and accrued income.
- 2Enter liabilities and any fees or expenses accrued but unpaid.
- 3Enter the number of units or shares outstanding.
- 4Optionally add an investment amount, exit load and yesterday’s NAV.
- 5Read the NAV per unit, units you would buy and the redemption price.
Formula and method
Net asset value per unit is total assets minus total liabilities, divided by the number of units or shares in issue. Assets are the market value of all holdings plus cash, receivables and income that has been earned but not yet received; liabilities include amounts owed for securities bought, borrowings, redemptions payable and fees that have accrued but not been paid.
The number of units a purchase buys is the amount invested divided by NAV (ignoring any entry load or stamp duty), and the redemption price is NAV × (1 − exit load). The change is measured against the previous NAV you enter. Because NAV is struck once a day at closing prices, orders placed before the cut-off time get that day’s NAV.
- NAV
- Net asset value per unit or share
- Units outstanding
- Total units or shares in issue on the valuation date
Worked examples
Mid-sized fund with 3 million units
Assets of $53.7 million less $950,000 of liabilities and accrued fees leave $52.75 million of net assets. Divided by 3 million units, NAV is $17.5833, so $10,000 buys about 568.72 units. A 1% exit load cuts the redemption price to $17.4075, and the NAV is up 1.05% on yesterday’s $17.40.
Investment club pricing its units
The club holds $1.3 million of assets and owes $25,000, leaving $1,275,000. With 100,000 units issued the NAV is $12.75, so a new member putting in $5,000 receives 392.157 units.
Large ETF with 40 million shares
Total assets of $1.008 billion minus $13 million of liabilities give $995 million of net assets, or $24.875 per share across 40 million shares.
Frequently asked questions
How is NAV calculated for a mutual fund?+
Add the market value of all securities, cash and accrued income, subtract all liabilities including accrued fees, and divide by the units outstanding. Funds strike the NAV once each business day after markets close.
Is a lower NAV fund cheaper or better?+
No. NAV per unit only reflects how the fund’s assets are divided among units, not value. A fund at 10 and a fund at 500 can be equally attractive; returns, costs and holdings are what matter.
What is the difference between NAV and market price for an ETF?+
An ETF’s NAV is the value of its holdings per share, while its market price is set by trading on the exchange. Authorised participants keep them close through creation and redemption, but the price can trade at a small premium or discount.
How does the expense ratio affect NAV?+
Management fees and other expenses are accrued daily as a liability and deducted before NAV is struck, so a 1% annual expense ratio lowers NAV by roughly 1/365th of 1% each day rather than being charged separately.
What NAV do I get when I buy or sell?+
Mutual fund orders received before the daily cut-off are processed at that day’s NAV (forward pricing); later orders get the next day’s NAV. Any entry or exit load is applied on top.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.