diff --git a/app/Services/Banking/IndexaCapitalBalanceSyncService.php b/app/Services/Banking/IndexaCapitalBalanceSyncService.php
index 118d00f1..09e25744 100644
--- a/app/Services/Banking/IndexaCapitalBalanceSyncService.php
+++ b/app/Services/Banking/IndexaCapitalBalanceSyncService.php
@@ -20,6 +20,7 @@ class IndexaCapitalBalanceSyncService
 
         $performance = $client->getPerformance($account->external_account_id);
         $portfolios = $performance['portfolios'] ?? [];
+        $netAmounts = $performance['net_amounts'] ?? [];
 
         if (empty($portfolios)) {
             Log::warning('No portfolio data from Indexa Capital', [
@@ -55,7 +56,7 @@ class IndexaCapitalBalanceSyncService
             }
 
             $balanceCents = (int) round(floatval($value) * 100);
-            $investedAmountCents = $this->calculateInvestedAmount($entry);
+            $investedAmountCents = $this->calculateInvestedAmount($entry, $netAmounts);
 
             $account->balances()->updateOrCreate(
                 ['balance_date' => $date],
@@ -76,20 +77,27 @@ class IndexaCapitalBalanceSyncService
     }
 
     /**
-     * Calculate invested amount from portfolio entry data.
+     * Calculate invested amount from the net_amounts data.
      *
-     * Uses instruments_cost + cash_amount when available (cost basis approach).
-     * Falls back to total_amount - return if the return field is present.
+     * Uses net_amounts (cumulative net inflows keyed by YYYYMMDD) which represents
+     * the actual money invested (inflows - outflows - tax_outflows), matching
+     * what Indexa Capital shows as "investment" on their dashboard.
+     *
+     * Falls back to total_amount - return if net_amounts is unavailable.
      *
      * @param  array<string, mixed>  $entry
+     * @param  array<string, float>  $netAmounts
      */
-    private function calculateInvestedAmount(array $entry): ?int
+    private function calculateInvestedAmount(array $entry, array $netAmounts): ?int
     {
-        $instrumentsCost = $entry['instruments_cost'] ?? null;
-        $cashAmount = $entry['cash_amount'] ?? null;
+        $date = $entry['date'] ?? null;
 
-        if ($instrumentsCost !== null && $cashAmount !== null) {
-            return (int) round((floatval($instrumentsCost) + floatval($cashAmount)) * 100);
+        if ($date !== null && ! empty($netAmounts)) {
+            $dateKey = str_replace('-', '', $date);
+
+            if (isset($netAmounts[$dateKey])) {
+                return (int) round(floatval($netAmounts[$dateKey]) * 100);
+            }
         }
 
         $totalAmount = $entry['total_amount'] ?? null;
diff --git a/tests/Feature/OpenBanking/IndexaCapitalBalanceSyncTest.php b/tests/Feature/OpenBanking/IndexaCapitalBalanceSyncTest.php
index e8f5db9c..4e767db5 100644
--- a/tests/Feature/OpenBanking/IndexaCapitalBalanceSyncTest.php
+++ b/tests/Feature/OpenBanking/IndexaCapitalBalanceSyncTest.php
@@ -164,7 +164,7 @@ test('handles empty portfolios array gracefully', function () {
     expect($account->balances()->count())->toBe(0);
 });
 
-test('stores invested_amount from instruments_cost and cash_amount', function () {
+test('stores invested_amount from net_amounts data', function () {
     $user = User::factory()->onboarded()->create();
     $connection = BankingConnection::factory()->indexaCapital()->create([
         'user_id' => $user->id,
@@ -175,24 +175,33 @@ test('stores invested_amount from instruments_cost and cash_amount', function ()
         'external_account_id' => 'IC-001',
     ]);
 
+    $today = now()->toDateString();
+    $yesterday = now()->subDay()->toDateString();
+    $todayKey = str_replace('-', '', $today);
+    $yesterdayKey = str_replace('-', '', $yesterday);
+
     Http::fake([
         'api.indexacapital.com/accounts/IC-001/performance' => Http::response([
             'portfolios' => [
                 [
-                    'date' => now()->toDateString(),
+                    'date' => $today,
                     'total_amount' => 15000.00,
                     'instruments_cost' => 12000.00,
                     'instruments_amount' => 14700.00,
                     'cash_amount' => 300.00,
                 ],
                 [
-                    'date' => now()->subDay()->toDateString(),
+                    'date' => $yesterday,
                     'total_amount' => 14500.00,
                     'instruments_cost' => 12000.00,
                     'instruments_amount' => 14200.00,
                     'cash_amount' => 300.00,
                 ],
             ],
+            'net_amounts' => [
+                $todayKey => 11000.00,
+                $yesterdayKey => 10800.00,
+            ],
         ]),
     ]);
 
@@ -203,16 +212,15 @@ test('stores invested_amount from instruments_cost and cash_amount', function ()
     expect($account->balances()->count())->toBe(2);
 
     $latest = $account->balances()->orderBy('balance_date', 'desc')->first();
-    // invested_amount = instruments_cost + cash_amount = 12000 + 300 = 12300 → 1230000 cents
+    // invested_amount comes from net_amounts, not instruments_cost + cash_amount
     expect($latest->balance)->toBe(1500000);
-    expect($latest->invested_amount)->toBe(1230000);
+    expect($latest->invested_amount)->toBe(1100000);
 
     $previous = $account->balances()->orderBy('balance_date', 'asc')->first();
-    // invested_amount = 12000 + 300 = 12300 → 1230000 cents
-    expect($previous->invested_amount)->toBe(1230000);
+    expect($previous->invested_amount)->toBe(1080000);
 });
 
-test('stores null invested_amount when cost fields are missing', function () {
+test('stores null invested_amount when net_amounts is missing', function () {
     $user = User::factory()->onboarded()->create();
     $connection = BankingConnection::factory()->indexaCapital()->create([
         'user_id' => $user->id,
@@ -242,7 +250,7 @@ test('stores null invested_amount when cost fields are missing', function () {
     expect($balance->invested_amount)->toBeNull();
 });
 
-test('falls back to total_amount minus return when instruments_cost is missing', function () {
+test('falls back to total_amount minus return when net_amounts is missing', function () {
     $user = User::factory()->onboarded()->create();
     $connection = BankingConnection::factory()->indexaCapital()->create([
         'user_id' => $user->id,
@@ -256,7 +264,7 @@ test('falls back to total_amount minus return when instruments_cost is missing',
     Http::fake([
         'api.indexacapital.com/accounts/IC-001/performance' => Http::response([
             'portfolios' => [
-                // No instruments_cost/cash_amount, but has return field
+                // No net_amounts in response, but entry has return field
                 ['date' => now()->toDateString(), 'total_amount' => 8000.00, 'return' => -500.00],
             ],
         ]),