{"url":"https://etfiq.com/academy/trading-products-and-costs/","section":"academy","title":"Trading Products and Costs: Free Intermediate ETF Course | ETFIQ","description":"Trading Products and Costs: The trading card, capacity, dealers, leverage and decay. 6 free lessons on real ETF data, with quizzes and a certificate.","as_of":"Nov 10, 2026","structured_data":[{"@type":"Course","@id":"https://etfiq.com/academy/trading-products-and-costs/#course","name":"Trading Products and Costs","description":"As of Nov 10, 2026, ETFIQ Academy\u2019s Trading Products and Costs course has 6 free intermediate lessons on real ETF data, about 42 minutes in all.","url":"https://etfiq.com/academy/trading-products-and-costs/","provider":{"@type":"Organization","name":"ETFIQ Research","url":"https://etfiq.com"},"educationalLevel":"Intermediate","inLanguage":"en","isAccessibleForFree":true,"offers":{"@type":"Offer","category":"Free","price":0,"priceCurrency":"USD"},"hasCourseInstance":{"@type":"CourseInstance","courseMode":"Online","courseWorkload":"PT42M"},"hasPart":[{"@type":"LearningResource","name":"Reading the trading card: spread, premium and capacity","url":"https://etfiq.com/academy/trading-products-and-costs/reading-the-trading-card/","position":1},{"@type":"LearningResource","name":"Capacity: how much can trade before the price moves","url":"https://etfiq.com/academy/trading-products-and-costs/liquidity-capacity/","position":2},{"@type":"LearningResource","name":"Who keeps ETF prices tight: APs and market makers","url":"https://etfiq.com/academy/trading-products-and-costs/authorized-participants-and-market-makers/","position":3},{"@type":"LearningResource","name":"Leveraged and inverse ETFs: what the daily promise means","url":"https://etfiq.com/academy/trading-products-and-costs/leveraged-and-inverse-funds/","position":4},{"@type":"LearningResource","name":"Leveraged decay in numbers: 3 months of 3x funds","url":"https://etfiq.com/academy/trading-products-and-costs/leveraged-decay-in-numbers/","position":5},{"@type":"LearningResource","name":"Covered call ETFs: income now, a cap on the upside","url":"https://etfiq.com/academy/trading-products-and-costs/covered-call-income-funds/","position":6}],"dateModified":"2026-11-10"},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Academy","item":"https://etfiq.com/academy/"},{"@type":"ListItem","position":3,"name":"Trading Products and Costs","item":"https://etfiq.com/academy/trading-products-and-costs/"}]},{"@type":"WebPage","name":"Trading Products and Costs: Free Intermediate ETF Course","description":"Trading Products and Costs: The trading card, capacity, dealers, leverage and decay. 6 free lessons on real ETF data, with quizzes and a certificate.","url":"https://etfiq.com/academy/trading-products-and-costs/","dateModified":"2026-11-10","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2593,"truncated":false,"content":"ETFIQ / Academy / Trading Products and Costs \n \n Trading Products and Costs\n Data as of Nov 10, 2026. Rebuilt every trading night.\n As of Nov 10, 2026, ETFIQ Academy\u2019s Trading Products and Costs course has 6 free intermediate lessons on real ETF data, about 42 minutes in all.\n Trading Products and Costs \u00b7 6 lessons published 1 2 3 4 5 6 \n Start the course \n Lessons\n Reading the trading card: spread, premium and capacity Lesson 1, 7 minutes \n Capacity: how much can trade before the price moves Lesson 2, 7 minutes \n Who keeps ETF prices tight: APs and market makers Lesson 3, 7 minutes \n Leveraged and inverse ETFs: what the daily promise means Lesson 4, 7 minutes \n Leveraged decay in numbers: 3 months of 3x funds Lesson 5, 7 minutes \n Covered call ETFs: income now, a cap on the upside Lesson 6, 7 minutes \n Your progress\n Finish all 6 lessons and get 2 of 3 right on each quiz to earn the course certificate. 0 of 6 lessons passed on this device. \n What you learn\n How to read a fund trading card: cost to trade, price against NAV, capacity, dealers and bad days, and how the six parts add up to the IQ Liquidity Score\n Capacity: how many dollars of a fund's holdings can be bought in a day without moving their prices, and how that changes the cost of a large order\n Who keeps ETF prices tight: authorized participants, lead market makers and wholesalers, and what each does\n What a leveraged or inverse ETF promises (a multiple of the index each day) and why a longer period gives a different result\n Why a 3x fund can lose far more than 3 times an index over three months: the path effect, the fund's own gap and the score that ranks it\n How a covered call ETF turns upside into cash: what it writes, what it paid and gave up in a falling and a rising stretch, and its capture ratios\n Where to next\n More in this track ETFIQ Academy For teachers: answer keys ETF explainers \n Cite this page. ETFIQ, Trading Products and Costs: free ETF course, data as of Nov 10, 2026. https://etfiq.com/academy/trading-products-and-costs/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Trading Products and Costs: free ETF course, data as of Nov 10, 2026. https://etfiq.com/academy/trading-products-and-costs/ APA ETFIQ. (Nov 10, 2026). Trading Products and Costs: free ETF course. Retrieved from https://etfiq.com/academy/trading-products-and-costs/ Markdown [Trading Products and Costs: free ETF course (ETFIQ, Nov 10, 2026)](https://etfiq.com/academy/trading-products-and-costs/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Trading Products and Costs: free ETF course, data as of Nov 10, 2026. https://etfiq.com/academy/trading-products-and-costs/"}