What is an overseas ETF iNAV?

It is a fair value estimated by summing what the holdings of a Korean-listed overseas ETF are worth right now. After the Korean regular session closes it reflects prices and exchange rate moves in the United States market, so it gives a sense of where the fund's value sits before the domestic market opens the next day.

What does the premium or discount mean?

It is how far the ETF's market price sits above or below the estimated fair value, shown as a percentage. A positive figure is a premium and a negative one is a discount, and while the domestic market is shut the figure is computed against the last close.

Which ETFs appear on this screen?

Physically replicating funds whose holdings are entirely United States equity, Korean equity and cash, with at least one United States equity among them. A fund that follows its index through derivatives cannot have its value estimated from the prices of what it holds, so it is left out.

Overseas ETF Real-Time iNAV

Search for an overseas ETF to see its live iNAV and its premium or discount.

All ETFs

Learn more

For anyone meeting the after-hours fair value of an overseas ETF for the first time, these short guides walk through what an iNAV is, how to read the premium or discount, and how hedged and unhedged funds differ.

What an ETF iNAV Is
What an iNAV is, how a Korean-listed overseas ETF's after-hours fair value is estimated from live holding prices and exchange rates, and how far to trust it.
Reading an ETF Premium or Discount
What an overseas ETF's premium or discount is, how premium and discount are told apart, and how to read the gap between the last close and the iNAV.
How Hedged and Unhedged ETFs Differ
How a hedged overseas ETF differs from an unhedged one, how the exchange rate enters or drops out of the iNAV, and how the two part ways overnight.

See all guides

Frequently Asked Questions

What is an overseas ETF iNAV?: It is a fair value estimated by summing what the holdings of a Korean-listed overseas ETF are worth right now. After the Korean regular session closes it reflects prices and exchange rate moves in the United States market, so it gives a sense of where the fund's value sits before the domestic market opens the next day.
What does the premium or discount mean?: It is how far the ETF's market price sits above or below the estimated fair value, shown as a percentage. A positive figure is a premium and a negative one is a discount, and while the domestic market is shut the figure is computed against the last close.
Which ETFs appear on this screen?: Physically replicating funds whose holdings are entirely United States equity, Korean equity and cash, with at least one United States equity among them. A fund that follows its index through derivatives cannot have its value estimated from the prices of what it holds, so it is left out.