IQ
AGOX
Adaptive Alpha Opportunities ETF
Category StocksIssuer CavalierNet assets $380mFee 1.36%

AGOX bid-ask spread and liquidity

See what AGOX costs to trade and how closely it tracks its value.

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Not scored

IQ Liquidity Score

· 2 of 6 measured · Nov 10, 2026
$190m
its holdings can absorb a day
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 $190m a day, Nov 10, 2026
76.0
Price fidelity
Not measured · no closing premium is held for this fund
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Primary market
2 active dealers of 2; largest 74% of creations and redemptions, N-CEN to May 31, 2026
45.0
Bad-day behaviour
Not measured · no daily closing premium is held for this fund
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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 →

AGOX is not scored: its spread is not read, so it has no point on this chart. 658 scored Stocks ETFs are plotted for comparison, Nov 10, 2026.

Spread against score

AGOX among Stocks ETFs

Cheaper to trade sits left, easier to trade sits up.

658 scored
Hard to tradeThinLiquid with careLiquidTrades like a giantNov 10, 2026
CapacityWhat its holdings making up 95% of the weight can absorb a day, at 10% of each one’s volume
Holdings can absorb
$190m

AGOX’s holdings can absorb $190m a day, measured on its own holdings, as of Nov 10, 2026. A $1m order is 0.53% of a day’s capacity.

The holding that sets the limit: iShares Global Infrastructure ETF (IGF), 2.91% of the fund, $47m a day traded, the median of 20 days to Nov 10, 2026.

Who makes the market

Authorized participants · N-CEN, the year to May 31, 2026
Active dealers
2
of 2 authorized
Largest
74%
of creations and redemptions
One dealer
No
2 active

2 of 2 authorized participants created or redeemed AGOX shares in the year to May 31, 2026. From the fund’s Form N-CEN, filed Aug 14, 2026.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: Merrill Lynch Professional Clearing Corp. (74.3%), Goldman Sachs & Co. LLC (25.7%).

What retail orders paid

One way on $10,000, Sep 2026
All wholesalers read
$5.86
Schwab customers
$9.74
Fidelity customers
$9.96

In Sep 2026, retail market orders in AGOX paid $5.86 one way on $10,000, against $24 at the quote.

96% of shares filled better than the quote.

Aug 2025Grey: old format, orders of 100 to 9,999 sharesSep 2026

AGOX ranked 1715th of 4,072 ETFs by retail order activity in Sep 2026, an ETFIQ estimate.

0.0018% 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
88%
Odd lots, of exchange volume
28.5%

In Q2 2026, 88% of AGOX’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
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Size
Up to $1.9m is 1% of what its holdings can absorb in a day, for a buy or a sell.
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

Who is the AP for AGOX?

AGOX’s latest Form N-CEN, for the period ending May 31, 2026, lists 2 authorized participants (APs), and 2 created or redeemed shares. The largest were Merrill Lynch Professional Clearing Corp. (74.3%), Goldman Sachs & Co. LLC (25.7%) of the dollars its APs created and redeemed.

Who is the LMM for AGOX?

AGOX’s lead market maker (LMM) on NYSE Arca is GTS Securities LLC. Lead market maker per NYSE Arca, as of Nov 9, 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 →AGOX fund page→
Sources and dates
CapacityETFIQ, each holding’s 20-day median dollar volume · to Nov 10, 2026
DealersForm N-CEN · the year to May 31, 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, AGOX trading: cost, capacity, premium and dealers, data as of Nov 10, 2026. https://etfiq.com/funds/agox/trading/

Open data →

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