NAV (Net Asset Value)
✓ Last verified 14 Sep 2026
The short version
NAV is the per-unit price of a mutual fund, calculated once a day from the value of everything the fund holds - it's not a measure of whether a fund is 'cheap' or 'expensive' the way a stock price sometimes is treated.
NAV = (total value of a fund's holdings - liabilities) / number of units outstanding, recalculated once at the end of each trading day. A common misconception is treating a lower NAV as "cheaper" and therefore better value - it isn't; NAV simply reflects how the fund's unit price happened to start and grow, not how good the fund is. Two funds with identical underlying performance but different NAVs (say ₹50 vs. ₹500) will grow your investment by the exact same percentage - what matters is the fund's returns and fees, not its NAV level.
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