# ETF Stop Orders and the Aug 24, 2015 Crash > 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. Data as of Oct 22, 2026. Rebuilt every trading night. Figures as of Oct 22, 2026. ## Stop orders and Aug 24, 2015 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. A stop order waits for a trigger price. A sell stop sits below the price. A buy stop sits above it. When a trade prints at the trigger, the stop becomes a market order. A stop-limit order becomes a limit order instead. It fills only at your limit or better, and may not fill at all. ### Aug 24, 2015 U.S. stocks opened sharply lower that morning. SPY opened 5.2% below its prior close and was 7.8% down by 9:35. It closed down 4.2%. IVV, another S&P 500 fund, fell more than 20% below its prior close. 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. 19.2% of those products fell 20% or more that day, against 4.7% of company stocks. On NYSE Arca, market orders made up 94% of the selling left unmatched in auctions after a pause. Those figures are from the SEC staff’s research note of December 2015. ### After it In December 2015, the NYSE filed to stop accepting stop orders . It said triggered stops can exacerbate market volatility. ### Gaps to NAV now 95 of 570 ETFs closed more than 1% from NAV on at least one day from Oct 23, 2025 to Oct 22, 2026. Gaps during the day can be larger than gaps at the close. ### How each order behaves A sell stop fills at the next bid after the trigger. A sell stop-limit sets the least you accept. A buy stop fills at the next ask. A buy stop-limit sets the most you pay. The limit orders guide shows how to set a limit. Live · 570 ETFs · Oct 22, 2026 95 of 570 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. 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 · ETFIQ ### Related funds ### Questions people ask 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’t 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’s normal swings triggers often. Each fund’s trading page shows its spread and its record against NAV. ### Where to next A guide to trading conditions, not advice. ETFIQ makes no recommendations. Standards and sources --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, Stop orders and Aug 24, 2015, data as of Oct 22, 2026. https://etfiq.com/trading/stop-orders/ 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/stop-orders/