Mutual fund next NAV calculator: dollars in, shares out
A mutual fund prices your order at the next NAV, not the one on the screen. Enter both and see the shares.
How it works: a mutual fund has one price a day. It is the NAV, the net asset value of one share. You do not buy at the price you see on the screen. You buy at the next NAV the fund figures after your order. Shares you receive equal your dollars divided by that NAV. This page takes any sales charge off first. Then it divides and rounds the shares to the number of decimal places you type. The shares are then valued at the NAV the fund used.
Dollars go in. Shares come out.
You tell the fund how many dollars. You do not tell it how many shares. The shares come later, once the NAV is set. If the NAV rose, the same dollars buy fewer shares. If it fell, they buy more. Your dollars are the same either way. Read more on what NAV is and what a mutual fund is.
Why the cents drift
Shares are rounded to a few decimal places. Rounding can leave a cent or two out, or add one. The fund may also charge a fee when you sell. See the mutual fund redemption fee. A fund that trades all day is a different thing. Compare them in ETF versus mutual fund.
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