What a NAV observation tells you
Net asset value per unit is a dated observation of the fund’s per-unit value. It helps you understand pricing, but a change between two NAV observations does not necessarily measure the investor’s complete outcome.
What distributions change
When a fund distributes value, the NAV may decrease while the investor receives cash or additional units. A proper total-return calculation follows those events and the applicable reinvestment or withdrawal treatment. Unit splits and bonus units also need explicit adjustments.
An empty observed-payout list does not prove there were no distributions. Our observed-event endpoint records what has been collected, with that limitation visible.
Compare like with like
Keep absolute period returns, simple annualized yields and effective annualized returns separate. A reported monthly annualized figure cannot be compared directly with an equity fund’s absolute monthly return.
On ILovePSX Funds, the NAV chart and the report’s performance table are separate. Read the dates and basis on each before drawing a conclusion.
Put the explanation to work.
Open the corresponding research view with the context in mind.
Independent research education. Data and methods: ILovePSX methodology · SECP risk explanations ↗