Yes, it does. Like all ETFs, the market price of HNDL fluctuates in response to changes in the NAV, as well as supply and demand for its shares or units. During periods of market stress, market makers may refrain from making a market in shares of ETFs and in executing trades, which may lead to ETF shares trading at a discount to NAV. For example, HNDL traded at a 3.07% discount to NAV on March 17, 2020, when equities were amid their massive "COVID correction." Conversely, as markets rebounded that summer, HNDL traded at a 1.16% premium to NAV on July 27, 2020. Overall, in 2020, HNDL traded at a premium to NAV on 156 trading days, and at a discount to NAV on 97 trading days. Note that the actual premium or discount of HNDL's price to its NAV is quite small because HNDL traded within +0.5% or -0.5% of NAV on 220 out of 253 trading days in 2020, or 87% of trading days in that year.