FYI: Exchange-traded funds typically don't stray far from their net asset values (NAVs). One of the greatest strengths of the ETF structure, the creation/redemption mechanism, makes it so the price of a fund stays close to the value of its underlying assets.
Usually, this process works flawlessly. Out of the nearly 2,000 ETFs on the U.S. market today, 83% of them are trading within 1% of their NAVs, while 94% of them are trading within 2% of their NAVs. For various reasons, the others have larger gaps between their market price and the value of their assets. Sometimes, those gaps are substantial.
Regards,
Ted
http://www.etf.com/sections/features-and-news/etfs-largest-premiums-discounts?nopaging=1