etf-analysis
Does the market capitalization of an electronically traded fund match its underlying asset value?
No.
On Jan 11, I ran the analysis on iShares Core S&P 500 ETF (IVV) with the following results:
Name: iShares Core S&P 500 ETF
Symbol: IVV
Id: 239726
CSV URL: https://www.ishares.com/us/products/239726/ishares-phlx-semiconductor-etf/1467271812596.ajax?fileType=csv&fileName=SOXX_holdings&dataType=fund
open high low close volume
date
2019-01-11 259.24 260.52 258.57 260.37 5111675
Estimated holdings value of IVV: 162,938,811,602.75012
Estimated market capitalization of IVV: 155,258,631,000.0
Undercapitalization: 155,258,631,000.0
Ratio: 0.049467
The underlying holdings are worth $155,258,631,000.00 more that the market capitalization. This is ~5% of the market capitalization.
What's going on?
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