- As of Nov 4, 2026, the median ETF closed 0.09% from its net asset value across 3,211 funds, and 467 closed over 1% away on a day.
In plain words
Net asset value, or NAV, is what the basket inside a fund is worth per share, worked out after the close from closing prices, plus cash, less costs.
The market price is not NAV: during the day it moves with trading, and the gap is the premium or discount. The median ETF closed 0.09% from NAV across 3,211 measured funds, and 467 had a day over 1%. Funds with foreign shares can show a gap that is only timing, because their NAV is set at a different time.
Questions
- Is NAV the price I pay?
No. You pay the market price. NAV is the value of the basket.
- When is NAV set?
After the close, from closing prices.
- Where do I see a fund’s gap?
On its trading page.