What is the difference between ETF price and NAV?
Price is what it trades for on the exchange; NAV is the per-share value of its holdings. They can differ slightly.
February 17, 2026
An ETF's market price is what investors pay on the exchange. NAV is the calculated per-share value of the ETF's holdings.
In liquid ETFs, the difference is usually small because arbitrage and the creation/redemption mechanism pull the price toward NAV. But premiums and discounts can widen in volatile markets or for less liquid underlying assets.
If you're trading a niche ETF, it's worth checking premium/discount history and spreads. A "cheap" looking price move may just be a temporary discount, and a "high" price may reflect a premium rather than fundamentals.
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