# Trading Products and Costs: Free Intermediate ETF Course

> Trading Products and Costs: The trading card, capacity, dealers, leverage and decay. 6 free lessons on real ETF data, with quizzes and a certificate.

Data as of Nov 10, 2026. Rebuilt every trading night.

## Trading Products and Costs

Data as of Nov 10, 2026. Rebuilt every trading night.

As of Nov 10, 2026, ETFIQ Academy’s Trading Products and Costs course has 6 free intermediate lessons on real ETF data, about 42 minutes in all.

Trading Products and Costs · 6 lessons published 1 2 3 4 5 6

Start the course

### Lessons

- Reading the trading card: spread, premium and capacity Lesson 1, 7 minutes

- Capacity: how much can trade before the price moves Lesson 2, 7 minutes

- Who keeps ETF prices tight: APs and market makers Lesson 3, 7 minutes

- Leveraged and inverse ETFs: what the daily promise means Lesson 4, 7 minutes

- Leveraged decay in numbers: 3 months of 3x funds Lesson 5, 7 minutes

- Covered call ETFs: income now, a cap on the upside Lesson 6, 7 minutes

### Your progress

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.

### What you learn

- 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

- 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

- Who keeps ETF prices tight: authorized participants, lead market makers and wholesalers, and what each does

- What a leveraged or inverse ETF promises (a multiple of the index each day) and why a longer period gives a different result

- 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

- 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

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Trading Products and Costs: free ETF course, data as of Nov 10, 2026. https://etfiq.com/academy/trading-products-and-costs/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/academy/trading-products-and-costs/