# International ETFs: NAV When Markets Are Closed

> As of Oct 22, 2026, the median ETF whose holdings close before New York stayed within ±0.62% of net asset value on 95% of days.

Data as of Oct 22, 2026. Rebuilt every trading night.

Figures as of Oct 22, 2026.

## International ETFs when the home market is closed

As of Oct 22, 2026, the median ETF whose holdings close before New York stayed within ±0.62% of net asset value on 95% of days. Funds struck at the New York close stayed within ±0.19%.

A fund of Japanese stocks trades in New York while Tokyo is shut.

Its net asset value (NAV) uses Tokyo’s closing prices, from hours earlier.

So the ETF price moves on news the NAV has not seen. The gap is often the market pricing that news.

### Overlapping hours

European markets close during the New York morning. Asian markets are shut for the whole U.S. day.

While the home market is open, dealers can hedge in the holdings. Once it closes, they hedge with futures or related funds, and quotes can widen.

### What the figures show

ETFIQ finds the gap to NAV that each fund stayed within on 95% of its days.

As of Oct 22, 2026, 499 ETFs hold markets that close before New York. Their median range is ±0.62%.

For 2,673 funds struck at the New York close, it is ±0.19%.

### Placing a trade

A premium can mean the market expects the holdings to open higher. A discount can mean the reverse.

The fair limit is midpoint + X¢ to buy, midpoint − X¢ to sell.

X is half the fund’s typical spread in cents, rounded up, and never less than 1¢.

The premiums guide explains how authorized participants (APs) hold the price near NAV.

Live · 499 funds · Oct 22, 2026

±0.62% against ±0.19%

The median range that held on 95% of days, for funds whose holdings close before New York, against funds struck at the New York close.

Funds whose holdings close before New York 499 Their median 95% range ±0.62% Funds struck at the New York close 2,673 Their median 95% range ±0.19% Closes against NAV, each fund’s own window, to Oct 22, 2026 · ETFIQ

### Related funds

### Related rankings

### Questions people ask

Can a foreign ETF trade when its markets are closed? Yes. It trades through the U.S. day. Dealers price it from futures, currencies and related funds while its home market is shut. How does the price of a foreign ETF change? With the expected value of its holdings when their market next opens, and the currency. Its NAV uses the last local closes. What is an international ETF? An ETF holding companies outside the U.S. It trades in New York, often while its holdings’ markets are closed.

### Where to next

A guide to trading conditions, not advice. ETFIQ makes no recommendations. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, International ETFs when the home market is closed, data as of Oct 22, 2026. https://etfiq.com/trading/international/
Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/trading/international/