Variance in index fund prices
Fidelity Index World rose today by 0.20% while HSBC FTSE All World Index fell by 0.51%. Both have valuation points of midday and the only material difference, so far as I am aware, is that the Fidelity fund excludes emerging markets. That would not explain the difference in fund price movement so, while I expect such variances iron out over the days, it makes me assume that fund prices on any given day are not an accurate reflection of the underlying share prices. Could someone explain?