> For the complete documentation index, see [llms.txt](https://docs.keystonefi.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.keystonefi.xyz/how-it-works.md).

# How it works

- [Strategy & Modes](https://docs.keystonefi.xyz/how-it-works/strategy-and-modes.md)
- [NAV & Share Pricing](https://docs.keystonefi.xyz/how-it-works/strategy-and-modes/nav-calculation.md)
- [Historical Simulation](https://docs.keystonefi.xyz/how-it-works/strategy-and-modes/historical-simulation.md)
- [Whitepaper](https://docs.keystonefi.xyz/how-it-works/whitepaper.md)
- [Hylo comparison](https://docs.keystonefi.xyz/how-it-works/whitepaper/hylo.md)