Stock Market Glossary

iNAV

Indicative net asset value of an ETF, estimated continuously during the trading day.

In brief: Indicative net asset value of an ETF, estimated continuously during the trading day.

Meaning in practice

The iNAV is intended to show how the ETF’s underlying holdings are currently developing. It is a reference, not a guaranteed execution price: closed home markets, illiquid holdings or high volatility can create a gap to the exchange price.

Context for investors and traders

For investors, the term becomes practical in the context of objectives, time horizon, risk capacity and costs. A suitable solution can differ between two people even when they consider the same product or metric.

How to use this in practice

Use the term first to describe the situation and add verifiable data: time frame, benchmark, costs and liquidity. Only then does it become an assessment that can be connected to an investment objective and risk budget.

What to keep in mind

Avoid false precision. Many market terms describe probabilities or historical patterns; they neither guarantee a return nor replace the review of a specific security.

What does iNAV mean in simple terms?

Indicative net asset value of an ETF, estimated continuously during the trading day.

When is this term relevant to investors?

Check how the term affects portfolio weights, ongoing costs or total risk. Clear target allocations and regular, non-reactive reviews can help.

What should I check before acting on iNAV?

Avoid false precision. Many market terms describe probabilities or historical patterns; they neither guarantee a return nor replace the review of a specific security.

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