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Frequently Asked Questions

Can you explain what is meant by Adjusted Net Asset Value (the label for the Y axis on the charts) and how it affects the prices indicated on the charts?

For the charts on, we account for distributions by adjusting all of the historical prices prior to the distribution by the amount of the distribution. We take the same approach if a fund has a split. This gives us an adjusted NAV (Net Asset Value).

In other words, when a fund pays a distribution, the shareholder receives more shares (or cash), while the price of the fund declines. The net effect to the shareholder, though, is zero. In order to account for this graphically, we adjust any historical prices downward by the amount of the distribution so that the user doesn't see a large drop on the chart the day the fund pays a distribution.

This way, any large drops you see on the Charts are due to market swings that effect the share price of the fund and not distributions. The Charts should not be used to gauge specific fund prices but the performance of the fund over time.