The Net Asset Value (NAV) is the price per share of a mutual fund, and it changes everyday because the value of the investments inside the mutual fund changes daily. If the stocks and bonds within the fund increase in price, the NAV also goes up. If it goes down, the NAV goes down. NAV is calculated by taking the total value of everything the fund owns and dividing by the number of outstanding shares. Think of the fund as a whole pie of investments--the NAV tells you how much each slice of that pie is worth.

Another situation where the NAV changes is when we post capital gains. This happens because when a fund pays out dividends or capital gains to investors, the NAV is typically lowered by the amount distributed. If those dividends are reinvested, you receive more shares at the lower NAV, keeping your account value the same but increasing your ownership in the fund. Increased ownership can be beneficial because it allows for more potential growth over time. For example, if you previously owned 10 shares of a mutual fund worth $12 each, your account value would be $120. After reinvesting capital gains, you might own 12 shares worth $10 each--still $120 total, but with more shares for future growth.
 

Click here to view our fund performance page and each fund's Net Asset Value.