Although Net Asset Value (NAV) is a general term but it is commonly used in relation to unit trust or mutual fund. If you invest in stock, then you probably know the stock price for each single unit stock.
So, NAV is something similar to stock price but it is usually meant for unit trust or mutual funds or exchanged-traded funds(ETF). NAV per unit is the price or value of each single unit of the funds. Let’s look at the formula: