There are two key influences on the price of an ETF. Like any fund, the price of an ETF is determined by the current value or price of the ETFs underlying holdings. This is known as an ETFs net asset value or NAV. As ETFs are bought and sold on a stock exchange, there’s also a supply and demand element that contributes to the ETFs price. This means that while an ETF’s NAV is usually in line with its share price, that's not always the case. Lack of demand could see the price deviate from the NAV but so could tracking error and fees.