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Indicative Net Asset Value or iNAV or simply indicative value is the measure of net asset value of a fund or instrument according to the change in price of underlying instrument. iNAV is a powerful trading indicator especially for ETF traders and investors, as it indicate almost the price at which the ETF is trading. By definition, it is the intraday measure of per share value of an instrument based on the asset it holding and the liabilities it has.

Indicative net asset value is a more useful trading tool than Net Asset Value or NAV. With NAV or book value, the per share value of a fund is calculated based on the closing price of the underlying instrument, and it is published on morning of next trading day. But indicative value is published in more real-time, updated usually with every 15 seconds based on last transacted price of underlying instrument.

The trading price of exchange traded funds (ETFs) usually falls close to iNAV (often within a 2% range in either direction). Indicative net asset value is not so suitable indicator for mutual fund traders as there are many other costs involved in active mutual fund management.

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