Discount to NAV
Situation in which a fund's market price trades below its net asset value, most often discussed for closed-end funds.
Premium-to-NAV, discount-to-NAV, and indicative NAV terms used in fund price analysis.
NAV Premiums, Discounts, and iNAV terms explain how funds calculate value, report performance, quote yields, handle flows, and trade at premiums or discounts to portfolio value.
Use this branch when the key issue is NAV, per-share value, offer price, historical performance, yield reporting, fund flows, or liquidity pressure.
| Term | Use it for |
|---|---|
| Discount to NAV | A fund valuation, performance, yield, flow, or market-price term. |
| Indicative Net Asset Value (iNAV) | A fund valuation, performance, yield, flow, or market-price term. |
| Premium to NAV | A fund valuation, performance, yield, flow, or market-price term. |
Check valuation time, portfolio inputs, stale or illiquid holdings, bid-ask spread, premium or discount, yield formula, distribution policy, flow pressure, and whether performance is before or after fees.
This page is educational and does not recommend a specific fund, security, tax treatment, or account choice.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
Situation in which a fund's market price trades below its net asset value, most often discussed for closed-end funds.
Indicative net asset value is an intraday estimate of an exchange-traded fund's per-share portfolio value.
Situation in which a fund's market price trades above its net asset value, often because investors value the structure or strategy more highly than the portfolio alone.