Almost Always Liquid: August 24 ETF Breakdown and Post-Traumatic Stress

30 Sep 2015 In The News

Under normal circumstances, the cumulative value of the assets that comprise an ETF and the value of the ETF itself move and trade in lock-step. But August 24 was not a normal trading day, as there was a breakdown between ETFs and their corresponding intraday Net Asset Values. The question is: How should abnormally large differences in iNAV and ETF values be handled?

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