Mutual Funds
NAV vs Market Price (ETF)
Why ETFs can trade away from fair value.
Mutual funds transact at end-of-day NAV; ETFs trade live, so thin ones swing to premiums/discounts versus their indicative NAV (iNAV). Always check iNAV before market-ordering an ETF — paying 2% over fair value wipes out a year of expense-ratio savings.