What is iNAV?
Indicative Net Asset Value (iNAV), also referred to as Indicative Optimized Portfolio Value (IOPV), is an intraday estimate of an ETF’s fair value based on the real-time pricing of its underlying portfolio. Continuously updated throughout the trading day, iNAV helps market participants assess premiums and discounts, monitor fair value, and support more informed trading decisions.
Designed for modern ETF operations
Solactive’s iNAV service supports ETF issuers, exchanges, market makers, and institutional investors by enhancing transparency, facilitating price discovery, and enabling efficient trading and risk management.
Key features
Solactive’s iNAV service combines real-time intraday valuation, robust bottom-up methodology, advanced pricing logic, and broad asset class coverage. Designed for modern ETF operations, it supports reliable valuation across replication methods and market environments.
1.
Real-Time Intraday Valuation
Calculations and updates keep rolling all through trading hours. Usually, we refresh every 15 seconds, but you can get updates even faster if you want. Plus, we support multiple currencies to match where the ETFs are listed.
2.
Robust Bottom-Up Methodology
Our portfolio replication uses the latest Portfolio Composition File (PCF) and prices each part with real-time market data. It also includes cash components, accruals, FX rates, and corporate actions. The method is designed to closely match the end-of-day NAV logic throughout the day.
3.
Advanced Pricing Framework
The pricing waterfall works across different data sources like main exchange prices, combined feeds, and evaluated inputs when needed. There are fallback options in place to keep things running smoothly during times of low liquidity or market disruptions.
4.
Broad Asset Class Coverage
Explore a variety of ETFs including Stock, Bond, Commodity, Mixed Asset and Fund of Funds, Crypto, as well as ESG and Themed ETFs.
Why organizations ask us for an iNAV service?
Organizations turn to Solactive to enhance market transparency, support efficient price discovery, and integrate reliable intraday valuation into ETF workflows. Our service is designed to help issuers and market participants meet operational, trading, and listing-related demands with confidence.
Publication and Dissemination
iNAV values are calculated and published throughout the relevant exchange trading hours across Europe, Asia-Pacific, and the Americas. Standard iNAV values are made publicly available through major financial data vendors, and Solactive also offers broader real-time dissemination and API-based access for clients with specific integration needs.
Why it matters
Independent iNAV calculation services can help strengthen ETF transparency by providing a real-time reference point for fair value. For issuers and market participants, reliable intraday valuation can support pricing efficiency, improve execution confidence, and contribute to smoother trading, particularly in less liquid or more complex segments such as fixed income ETFs.
Use Cases
ETF Issuers – enhance product transparency and support listing requirements
Market Makers & Authorized Participants – support pricing, hedging, and arbitrage strategies
Institutional Investors – monitor fair value and optimize execution
Exchanges & Regulators – strengthen market oversight and market integrity
Download the iNAV Services Overview
Get a concise overview of Solactive’s iNAV offering, from service features and methodology to dissemination and use cases.