IQ
AADR
AdvisorShares Dorsey Wright ADR ETF
Category StocksIssuer AdvisorSharesNet assets $34mFee 1.10%
Trading · AdvisorShares Dorsey Wright ADR ETF

AADR bid-ask spread and liquidity

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As of Oct 30, 2026, AADR closed −0.04% from its NAV, and on 95% of the 1 days to then it was within ±0.04%.

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AADR fund page
·
Not scored

IQ Liquidity Score

· 1 of 6 measured · Nov 4, 2026
$12m
its holdings can absorb a day, at most
−0.04%
latest close, Oct 30
±0.04%
95% of days within
0 · Hard to trade100 · Trades like a giant

How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →

Cost to trade
Not measured · the issuer's 30-day median spread is not read for this fund
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Capacity
Holdings can absorb up to $12m a day; part of the book has no volume data
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Price fidelity
Not measured · 1 days of closing premium are held, under the 20 needed
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Primary market
4 active dealers of 23; largest 53% of creations and redemptions, N-CEN to Jun 30, 2026
65.0
Bad-day behaviour
Not measured · 1 of the 10 worst days and 0 other days are held, under the 5 and 60 needed
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Depth
Not measured · needs trade and quote data
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Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →

Premium or discount to valueDaily, 1 days to Oct 30, 2026 · the ±1% band marked

Above zero: a premium. Below: a discount.

AADR premium or discount to NAV, 1 days+1%0−1%Oct 30, 2026Oct 30, 2026
Latest close, Oct 30
−0.04%
95% of days within
±0.04%
Days more than 1% from NAV
0 of 1
Widest
−0.04%, Oct 30, 2026

Its holdings trade on markets that close before New York, so its closing premium carries the move since then.

CapacityWhat its holdings making up 95% of the weight can absorb a day, at 10% of each one’s volume
Holdings can absorb, at most
$12m

AADR’s holdings can absorb up to $12m a day, measured on its own holdings, as of Nov 4, 2026. Part of its book has no volume data, so this is an upper bound.

The holding that sets the limit: E.ON SE (EONGY), 2.66% of the fund, $3.1m a day traded, the median of 20 days to Nov 4, 2026.

Who makes the market

Authorized participants · N-CEN, the year to Jun 30, 2026
Active dealers
4
of 23 authorized
Largest
53%
of creations and redemptions
One dealer
No
4 active

4 of 23 authorized participants created or redeemed AADR shares in the year to Jun 30, 2026. From the fund’s Form N-CEN, filed Sep 10, 2026.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: Virtu Americas LLC (52.9%), Jane Street Capital, LLC (28.7%), BofA Securities, Inc. (11.8%), J.P. Morgan Securities LLC (6.7%). 19 more were listed and created or redeemed nothing.

What retail orders paid

AADR ranked 590th of 628 ETFs by retail order activity in Sep 2026, an ETFIQ estimate.

0.0001% of the market-order dollars in 4 retail brokers’ reports. Buys and sells together. Retail activity ranking →

Where it trades

Q2 2026, 62 trading days
Off exchange
83%
Odd lots, of exchange volume
28.9%

In Q2 2026, 83% of AADR’s shares traded off exchange on the median day.

Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.

How to place the order

To buy or to sell, up to $100,000
When
Its holdings trade on markets that close before New York, so its price can drift from their value later in the day.
Size
Part of its book has no volume data, so the room for a large order is an upper bound.
Watch
The premium to NAV, charted above: a buyer pays more, and a seller gets less, when it is wide.
Why low volume does not mean illiquid →Limit orders vs market orders for ETFs →
Not measured yet: these need trade data
Spread through the day

Median spread by half hour, 30 days.

Buyers against sellers

Volume bought at the ask against volume sold at the bid.

Large trades

Trades above $500k: how many, and their share of volume.

Closing auction

Share of the day’s volume at the close.

Questions people ask

Does AADR trade at a premium or discount to NAV?

It closed −0.04% from its NAV on Oct 30, 2026. On 95% of the 1 days to then it was within ±0.04%, and it closed more than 1% from NAV on 0 of them.

Who is the AP for AADR?

AADR’s latest Form N-CEN, for the period ending Jun 30, 2026, lists 23 authorized participants (APs), and 4 created or redeemed shares. The largest were Virtu Americas LLC (52.9%), Jane Street Capital, LLC (28.7%), BofA Securities, Inc. (11.8%) of the dollars its APs created and redeemed.

Who is the LMM for AADR?

AADR’s lead market maker (LMM) on Nasdaq is Virtu Americas LLC. Lead market maker per Nasdaq, as of Nov 1, 2026.
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →AADR fund page→
Sources and dates
Premium to NAVETFIQ, close against the issuer’s NAV · Oct 30, 2026 to Oct 30, 2026
CapacityETFIQ, each holding’s 20-day median dollar volume · to Nov 4, 2026
DealersForm N-CEN · the year to Jun 30, 2026
Retail ordersSEC Rule 605 reports · Sep 2026
Where it tradesSEC MIDAS · Q2 2026

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.

Cite this pageCitation, APA and Markdown

ETFIQ, AADR trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/aadr/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.