Your ETF's price and its value are two different numbers.
The NAV is the basket's value per share, worked out once a day.
The iNAV is an estimate during trading hours. The price is the last trade.
Most days market makers keep them close. But a Japan ETF on Xetra trades all 8.5 hours while Tokyo is shut: its shares cannot be priced live, so the price moves on news and the yen.
In March 2020, euro corporate bond ETFs traded below their NAV for days (ICMA).
Do you look at the iNAV before you trade?
Education, not investment advice.
