Let's say you've invested $100 in an ETF, and the brokerage app displays a change in portfolio value of +2% on day 1 and then -2% on day two. Are these changes calculated from scratch each time based on the original amount invested – so if you cash out on day 1 you'd get $102 (ignoring fees etc.) & you'd get $98 on day 2? Or is the portfolio changing in size each day – so after day 1 it would be woth $102 & after day 2 $99.96 respectively?
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