Glossary of Terms

The information presented here is not intended as financial, investment, tax or legal advice and is provided for educational purposes only.
NYSE Euronext
Formerly, the New York Stock Exchange. In 2007, the NYSE Group, Inc., joined with Euronext N.V. to create NYSE Euronext. As of December 31, 2008, approximately 8,500 listed stocks with a total market capitalization of $16.7 trillion were listed on NYSE Euronext exchanges, and daily trading volume was approximately $153 billion.
Nasdaq OMX Group
The world's largest exchange company. The Nasdaq began operations in 1971 as the world's first electronic stock market; today it delivers trading, exchange technology and public company services across six continents.
Net Amount
In mutual fund financial transactions, the gross amount of the transaction, minus any commissions or fees.
Net Asset Value (NAV)
The value of one share of a mutual fund. With the exception of money market funds, a fund's NAV changes daily, due to changes in the value of its holdings. A fund's NAV is calculated each day after the close of the exchanges.
Net Earnings-Per-Share (EPS) is the portion of a company's net earnings allocated to each share of stock. It is calculated by dividing net earnings by common shares outstanding adjusted for the assumed conversion of all potentially dilutive securities. Securities having a dilutive effect may include convertible debentures, warrants, options and convertible preferred stock.
Net Earnings
  See Net Income.
Net Income
The income a company has left after adjusting for all costs and credits. Also called earnings, and sometimes called bottom-line results, since it appears at the bottom of companies' income statements.
Net Margin
A measure of profitability after all costs, expenses and taxes have been paid. Net margin is calculated by dividing the sum of net earnings over the past four quarter by the sum of revenues over the past four quarters. The result is expressed as a percentage. Unlike operating margin, net margin can be affected by one-time credits and charges as well as accounting adjustments for past activities.
Net Yield
Rate of return on a security net of out-of-pocket costs associated with its purchase.
No-load Fund
A commission-free mutual fund that sells its shares at net asset value, either directly to the public or through an affiliated distributor, without the addition of a sales charge.
Non-Durable Power of Attorney
A legal document in which one person gives another person the authority to act on his behalf. The person granted power of attorney can manage the other person's day-to-day financial needs, for example, as well as handle more complex matters that may arise. Under common law, a non-durable power of attorney ceases to be effective if the person granting authority becomes incapacitated. See Durable Power of Attorney.
Noncovered Shares
Include shares that were acquired prior to the new cost basis effective date (Jan. 1, 2012). These shares may or may not have average cost basis information associated with them. If Invesco has maintained and reported average cost information on your account(s) in the past, then we will continue this service for shares acquired prior to the effective date. The costs of your noncovered shares will be maintained and calculated separately from your covered shares. You can use this information as needed for tax purposes. Invesco, however, will only report the redemption transaction for noncovered shares to the IRS and not the cost basis information as it has prior to the new rule.
Nondeductible Contribution
Funds contributed to a qualified retirement plan or Coverdell ESA that are not deducted for tax purposes, either voluntarily or because the maximum deduction for the given year has been exceeded.
Nonresident Alien
A person who is not a US citizen and not residing in the US.