ETF Intraday values

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queerasmoi
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ETF Intraday values

Post by queerasmoi »

I've been thinking for a while about shifting my international allocation from IEFA to ESGD because I want my equities to be in ESG-screened funds. (right now I use XEN and SUSA (formerly KLD) for Canada and USA). However I've been holding off because ESGD has been really slow to pick up trading volume since its inception last year, and there seems to be more often than not a premium to NAV. It'd be nice to get a rough idea at the time of placing a trade whether it's currently far from NAV.

Now for SUSA, which is on NYSE, Questrade lets me look up values for the intraday tickers like SUSA.IV and SUSA.NV.

For ESGD, which is on NASDAQ, such symbols are supposed to exist too. But I get no results on Questrade looking for ESGD.IV or ESGD.NV quotes. Does anyone else's Canadian brokerage find results for those tickers?
DenisD
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Re: ETF Intraday values

Post by DenisD »

Couldn't find it after a cursory search at TDDI. There is ^ESGD-NV at Yahoo! Finance. I suspect it wouldn't be much use for an international ETF. Too many stale quotes. If it's thinly traded, you just have to deal with a significant spread.
queerasmoi
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Re: ETF Intraday values

Post by queerasmoi »

DenisD wrote: 06 Oct 2017 22:35 Couldn't find it after a cursory search at TDDI. There is ^ESGD-NV at Yahoo! Finance. I suspect it wouldn't be much use for an international ETF. Too many stale quotes. If it's thinly traded, you just have to deal with a significant spread.
At least with bid-ask spread I have the information in front of me. I'm more concerned with premium/discount to NAV. Like if it's trading 1% above NAV one day, maybe I shouldn't be buying because I'm just spending that 1% on no actual value.
queerasmoi
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Re: ETF Intraday values

Post by queerasmoi »

Hmm it does occur to me that since ESGD tracks relatively close to IEFA, I may be able to use IEFA at least as a barometer of how close it is to NAV.

For example at Friday Oct 6 close:
IEFA 64.13 (NAV: 63.99) 0.22% premium
ESGD 66.07 (NAV:65.94) 0.18% premium
NAV ratio: 1.0304
Price ratio: 1.0303
Interestingly ESGD closed at a marginally lower spread.

BUT, at 1:00 PM:
IEFA 64.00
ESGD 66.12
Price ratio: 1.033

ESGD appeared to drop down by about 0.2% late in the day while IEFA didn't. It would seem ESGD was trading at a higher premium to NAV and then corrected late in the day.
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AltaRed
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Re: ETF Intraday values

Post by AltaRed »

It depends on whether the second decimal point matters to you that first day or week. The market moves randomly, often more than the premium in an hour, day or week. Chances are you will not care one iota next week. IMO, it is akin to chasing ghosts.
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Shakespeare
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Re: ETF Intraday values

Post by Shakespeare »

Interday variance is significantly greater than intraday variance - IOW the price moves more between days than within days.
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queerasmoi
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Re: ETF Intraday values

Post by queerasmoi »

Nonetheless given that this ETF has a recent history of trading above NAV, it does help to have some indicator of whether or not it's way off.
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