How the value of a fund or ETF really changes

The NAV (Net Asset Value) is the intrinsic value of a fund or ETF. It shows how much a share purely arithmetically value, based on all assets in the fund.

The NAV development thus describes, how this intrinsic value changes over time - independent of stock market prices, supply/demand or trading volumes.

🔍 1. how is the NAV calculated?

$$\text{NAV}=\frac{\text{Value of all assets}\ddot{\text{o}}\text{assets}-\text{Liabilities}}{\text{Number of shares}}$$

The NAV increases if:

• die enthaltenen Aktien/Anleihen im Wert steigen
• Dividenden oder Zinsen zufließen
• Currencies develop positively

It falls when:

• Falling markets
• Kosten abgezogen werden
• Currencies burden

📈 2 NAV vs. stock market price

There are two values for ETFs:

• NAV

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