Dados B3 › Glossary

Glossary

Premium and discount

How far the ETF's exchange price is above (premium) or below (discount) the fund's unit value on the same day.

What it is

How far the ETF's exchange price is above (premium) or below (discount) the fund's unit value on the same day. Shown on the ETFs pages.

How Dados B3 calculates it

closing price ÷ same-day net asset value per unit − 1, only on a day when both exist. Beyond ±10% the figure carries an extreme mark.

Example

Illustrative example, with made-up numbers to keep the arithmetic easy: Close of R$ 101 and NAV per unit of R$ 100: 1% premium. Close of R$ 99 and NAV of R$ 100: 1% discount.

What to watch for when reading it

• The unit value becomes public a day later; that is why the page shows the delivery date.
• A large premium or discount usually points to a stale NAV or a thinly traded unit.

See also

• Effective fee
• Return by NAV (fund return)

Methodology · All indicators

Educational content to understand what each number means. It is not a recommendation to buy or sell.