> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rwa.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# NAV & Yield

> How NAV and yield data is sourced, standardized, and displayed across the platform

## Net asset value (NAV)

Net asset value on the platform is displayed at the **token level**. For many tokenized funds, one token represents one fund share, making token NAV and per-share NAV equivalent. Multiplying token NAV by circulating supply gives you the fund-level net asset value (or AUM).

### Data sources

All NAV data is **issuer-reported**. RWA.xyz does not internally calculate, model, or adjust NAV values. Depending on the asset, data reaches the platform through one of three channels:

| Source type                | Description                                                                                                                 |
| -------------------------- | --------------------------------------------------------------------------------------------------------------------------- |
| **Direct API integration** | NAV data is ingested automatically from the issuer's systems                                                                |
| **Fixed NAV**              | Provided directly by the issuer for assets that maintain a stable price (e.g., distributing structures pegged at \$1.00)    |
| **Pegged NAV**             | Tied to an underlying reference asset, such as a gold-backed token pegged to the spot price of one Troy ounce via an oracle |

### Update frequency

The update frequency varies by asset. Tokenized treasury products are typically updated daily, while less liquid institutional fund structures may update less frequently (e.g., on a quarterly basis). You can verify the exact cadence for any asset by viewing its historical chart on the platform and downloading the time-series data.

## Yield calculation

Yield methodology follows the **SEC 7-day yield calculation**, the standard for U.S. money market funds and the benchmark the Securities and Exchange Commission requires for comparable yield reporting.

The logic takes a rolling 7-day window of performance, calculates the return over that period, and annualizes it to produce a standardized, comparable figure across every asset on the platform.

Depending on how a product is structured, this is applied in one of two ways.

### Method A: NAV-derived yield

For assets where yield accrues into the token price, the SEC-standard 7-day yield formula is applied directly. The calculation takes the NAV at the end of a 7-day window, subtracts the NAV at the beginning, divides by the starting NAV, and annualizes the result:

```
((NAV_end − NAV_start) / NAV_start) × (365 / 7) × 100
```

This works because the token's price movement captures the return. As income accrues into NAV, the appreciation over the 7-day window is the yield.

### Method B: Direct yield feed

Not all tokenized products accrue yield into NAV. Distributing structures pay daily income to holders while maintaining a stable NAV. Comparing the starting and ending NAV on these products would show effectively zero return, despite the holder earning real income every day.

For these assets, issuers provide a direct, unannualized one-day net yield figure (for example, `0.000137`, representing a 0.0137% daily return). The last 7 daily figures are summed to get the total return over the 7-day window, then annualized the same way:

```
(Sum of last 7 daily yield figures) × (365 / 7) × 100
```

Summing the actual daily returns over the 7-day window gives the same type of 7-day return input that Method A derives from NAV, allowing the same annualization logic to apply.

### Output

In both cases, the output is the same: a **7-day annualized non-compounding yield figure**, displayed **net of fees**, that allows you to compare across every asset on the platform on equal footing. The input method varies based on product structure, but the logic (a 7-day window, annualized) is consistent.

## Accumulating vs. distributing structures

The two yield methods map directly to the two main product structures in tokenized assets.

| Structure        | Behavior                                                                                    | Yield method                 |
| ---------------- | ------------------------------------------------------------------------------------------- | ---------------------------- |
| **Accumulating** | Income is reinvested directly into NAV. The token price rises over time as yield builds up. | Method A (NAV-derived)       |
| **Distributing** | Income is paid out to holders. NAV stays pegged and does not appreciate.                    | Method B (Direct yield feed) |

In both models, the yield figure captures **total return, net of fees**. NAV and yield are always displayed after fees have been deducted, based entirely on data provided by issuers.

## Standardization across asset types

The tokenized asset landscape includes treasuries, credit funds, commodity-backed tokens, active strategies, real estate, and more — each with different structures, fee models, and reporting cadences. Without a standardized methodology, comparing across products is guesswork.

RWA.xyz applies SEC-standard calculation logic to every asset, regardless of type. The underlying data cadence naturally differs from one product to the next (a daily-updating treasury fund and a quarterly-reporting credit vehicle operate on different timelines), but the methodology applied is always the same: **issuer-sourced data, processed through a single, transparent, SEC-standard methodology**.