ETF market price and real-time net value are sometimes not exactly the same, the former is higher than the latter, which is a premium, and vice versa. Generally speaking, the price revolves around the net value, which is the anchor.

Premium generally refers to the high buying sentiment and the influx of funds to buy; Discount generally refers to selling mainly. Excessive premium, such as exceeding 10 or even higher (0.0 10+), is not cost-effective for no-arbitrage traders; However, the general premium 1-2 (0.00 1-0.002) has little effect on no-arbitrage trading, but it can reflect the confidence of funds;

However, if the on-site discount is relatively large, but you are firmly optimistic, you think that selling is completely emotional panic selling. If the net value rises in the later period and the price keeps up with the net value, arbitrage profit can still be obtained, but it is relatively difficult.

Generally, ETF prices with active trading will closely follow IOPV, faithfully reflecting the real-time situation of a basket of stock targets (the discount premium fluctuates between plus and minus 1-3 points). Some ETF transactions are inactive, but fund companies will find market makers to make the market and ensure that the price follows IOPV.