Return on Net Asset Value (NAV) is a way of calculating the performance of an ETF or mutual funds over time by examining the value of its components.
Instead of the change in the fund’s market value or total income, NAV’s income uses the change in the fund’s net asset value over time instead.
The NAV may differ from the market price of the fund as it is calculated at the end of the day and the securities held within the fund are traded during each trading day.