# APY calculation & Fee

Net APY is the actual vault performance since inception annualised and net of any fees.

$NetAPY_t=\frac{P_t / P_0 - 1}{\tau}$

where

$P_0$

is the vault share price at inception, $P_t$

is the current vault share price and $\tau$

is the years since the vault inception. Net APY is the actual annualised return a user would receive if they had invested in the vault on day1.

Last modified 8mo ago