IIV - Intraday Indicative Value

Discussion in 'ETFs' started by WinstonTJ, Jan 13, 2009.

  1. Starting this thread for a few reasons. First, I'd like to know where you guys trade and if you can see the .IV tickers for the IIV values. Second, I'd like to discuss how you use the information and third I'd like for this thread to be a tool for others to learn from.

    An ETF is based on an underlying basket of stocks. The goal of the ETF is to track the underlying basket of stocks, which represents the index or benchmark that the ETF is alligned to. At times, the ETF shares can trade away from the underlying value, meaning the shares would trade at a premium or a discount to the underlying basket of stocks.

    The standard ticker for an ETF is three letters, the standard ticker to view the IIV is xxx.IV (add a dot eye vee to the end of the ticker). Google Finance, Yahoo Finance, Bloomberg, Thompson and some others. IIV prices are updated every 15 seconds.

    Can you guys please post where else you can see these prices posted? Also please feel free to discuss the IIV pricing and what you are doing with it.


    Intraday Indicative Value (IIV): An Intraday Indicative Value is published by NYSE Alternext US for each ETF as a reference value to be used in conjunction with other ETF market information. The Intraday Indicative Value for an ETF is typically published under a separate symbol every 15 seconds over the Consolidated Tape and calculated throughout the trading day based on the last sale prices of the securities specified for creation and redemption plus any estimated cash amounts associated with the creation unit, all on a per-ETF share basis. This value is also referred to as an "Underlying Trading Value", "Indicative Optimized Portfolio Value (IOPV)", and "Intraday Value", in various places such as the prospectus and marketing materials for different ETFs. The Intraday Indicative Value is designed to give investors a sense of the relationship between a basket of securities that are representative of those owned in the ETF and the share price of the ETF on an intraday basis. (taken from the NYSE website http://www.amex.com/?href=/etf/Glossary/Gloss.htm)