BacktestFolio · Glossary
NAV
In plain language
The price at which each unit of the ETF or fund is worth: if a fund has €100m in assets, €1m in liabilities, and 10m units outstanding, the NAV is €9.90 per unit. In BacktestFolio the NAV annual cost % field allows you to model management fees and operating expenses in the simulation.
Technical definition
Net Asset Value: the per-unit value of an ETF or mutual fund, calculated as (total assets − liabilities) / units outstanding. Typically determined at the daily market close.