{"url":"https://etfiq.com/trading/stop-orders/","section":"trading","title":"ETF Stop Orders and the Aug 24, 2015 Crash | ETFIQ","description":"From Oct 23, 2025 to Oct 22, 2026, 95 of 570 ETFs closed more than 1% from their net asset value on at least one day. Not advice.","as_of":"Oct 22, 2026","structured_data":[{"@type":"Article","headline":"Stop orders and Aug 24, 2015","url":"https://etfiq.com/trading/stop-orders/","dateModified":"2026-10-22","author":{"@id":"https://etfiq.com/#org"},"publisher":{"@id":"https://etfiq.com/#org"},"about":"ETF trading","isAccessibleForFree":true,"citation":["https://www.sec.gov/files/rules/sro/nyse/2015/34-76649.pdf","https://www.sec.gov/marketstructure/research/equity_market_volatility.pdf"]},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What happened with ETF pricing on August 24, 2015?","acceptedAnswer":{"@type":"Answer","text":"Many ETFs fell far below their prior close in the first minutes. SEC staff found 19.2% of exchange-traded products fell 20% or more."}},{"@type":"Question","name":"Why wouldn\u2019t I put a stop loss on my ETF?","acceptedAnswer":{"@type":"Answer","text":"A stop becomes a market order once it triggers. In a fast market it fills at the next bid, which can sit far below the stop price. A stop-limit caps that, but may not fill."}},{"@type":"Question","name":"How do I calculate a stop loss on an ETF?","acceptedAnswer":{"@type":"Answer","text":"The stop price is your choice. A stop inside a fund\u2019s normal swings triggers often. Each fund\u2019s trading page shows its spread and its record against NAV."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Trading","item":"https://etfiq.com/trading/"},{"@type":"ListItem","position":3,"name":"Stop orders and Aug 24, 2015","item":"https://etfiq.com/trading/stop-orders/"}]},{"@type":"WebPage","name":"ETF Stop Orders and the Aug 24, 2015 Crash","description":"From Oct 23, 2025 to Oct 22, 2026, 95 of 570 ETFs closed more than 1% from their net asset value on at least one day. Not advice.","url":"https://etfiq.com/trading/stop-orders/","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3883,"truncated":false,"content":"ETFIQ / Trading / Stop orders and Aug 24, 2015 \n \n Figures as of Oct 22, 2026.\n Stop orders and Aug 24, 2015\n From Oct 23, 2025 to Oct 22, 2026, 95 of 570 ETFs closed more than 1% from their net asset value on at least one day.\n A stop order waits for a trigger price. A sell stop sits below the price. A buy stop sits above it.\n When a trade prints at the trigger, the stop becomes a market order.\n A stop-limit order becomes a limit order instead. It fills only at your limit or better, and may not fill at all.\n Aug 24, 2015\n U.S. stocks opened sharply lower that morning.\n SPY opened 5.2% below its prior close and was 7.8% down by 9:35. It closed down 4.2%.\n IVV, another S&P 500 fund, fell more than 20% below its prior close.\n Trading paused 1,278 times under the Limit Up-Limit Down plan. 1,058 of those pauses were in 327 exchange-traded products, ETFs among them.\n 19.2% of those products fell 20% or more that day, against 4.7% of company stocks.\n On NYSE Arca, market orders made up 94% of the selling left unmatched in auctions after a pause.\n Those figures are from the SEC staff\u2019s research note of December 2015.\n After it\n In December 2015, the NYSE filed to stop accepting stop orders . It said triggered stops can exacerbate market volatility.\n Gaps to NAV now\n 95 of 570 ETFs closed more than 1% from NAV on at least one day from Oct 23, 2025 to Oct 22, 2026.\n Gaps during the day can be larger than gaps at the close.\n How each order behaves\n A sell stop fills at the next bid after the trigger. A sell stop-limit sets the least you accept.\n A buy stop fills at the next ask. A buy stop-limit sets the most you pay.\n The limit orders guide shows how to set a limit.\n Live \u00b7 570 ETFs \u00b7 Oct 22, 2026 \n 95 of 570\n ETFs that closed more than 1% from NAV on at least one day. A stop set near the price can trigger on such a day.\n ETFs with this window 570 At least one day more than 1% from NAV 95 Window Oct 23, 2025 to Oct 22, 2026, 251 days Closes against NAV, Oct 23, 2025 to Oct 22, 2026 \u00b7 ETFIQ\n Related funds\n SLV trading costs EEMX trading costs EWY trading costs XCNY trading costs Questions people ask\n What happened with ETF pricing on August 24, 2015? Many ETFs fell far below their prior close in the first minutes. SEC staff found 19.2% of exchange-traded products fell 20% or more. Why wouldn\u2019t I put a stop loss on my ETF? A stop becomes a market order once it triggers. In a fast market it fills at the next bid, which can sit far below the stop price. A stop-limit caps that, but may not fill. How do I calculate a stop loss on an ETF? The stop price is your choice. A stop inside a fund\u2019s normal swings triggers often. Each fund\u2019s trading page shows its spread and its record against NAV. Where to next\n ETF trading costs and liquidity Limit orders vs market orders for ETFs Why low volume does not mean illiquid Premiums and discounts to NAV International ETFs when the home market is closed Bond ETFs in a sell-off Leveraged and inverse ETFs: trading costs on top of decay Trading a new ETF in its first weeks Ex-dividend days and income ETFs Buffer ETFs: reset day and buying mid-period How to read the IQ Liquidity Score How the IQ Liquidity Score is built A guide to trading conditions, not advice. ETFIQ makes no recommendations. Standards and sources \n Cite this page. ETFIQ, Stop orders and Aug 24, 2015, data as of Oct 22, 2026. https://etfiq.com/trading/stop-orders/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Stop orders and Aug 24, 2015, data as of Oct 22, 2026. https://etfiq.com/trading/stop-orders/ APA ETFIQ. (Oct 22, 2026). Stop orders and Aug 24, 2015. Retrieved from https://etfiq.com/trading/stop-orders/ Markdown [Stop orders and Aug 24, 2015 (ETFIQ, Oct 22, 2026)](https://etfiq.com/trading/stop-orders/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Stop orders and Aug 24, 2015, data as of Oct 22, 2026. https://etfiq.com/trading/stop-orders/"}