IQ
ARKY
ARK Active Autocallable Income ETF
Category IncomeIssuer ARKFee 1.00%

ARKY bid-ask spread and liquidity

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

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Not scored

IQ Liquidity Score

· 1 of 6 measured · Dec 13, 2024
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
Not measured · its book is a proxy book
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Price fidelity
Not measured · no closing premium is held for this fund
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Primary market
3 active dealers of 3; largest 59% of creations and redemptions, N-CEN to Sep 30, 2024
65.0
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 →

ARKY is not scored: its spread is not read, so it has no point on this chart. 174 scored Income ETFs are plotted for comparison, Nov 12, 2026.

Spread against score

ARKY among Income ETFs

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

174 scored
Hard to tradeThinLiquid with careLiquidTrades like a giantNov 12, 2026
CapacityWhat the holdings can absorb a day

Not measured: its book is a proxy book.

Who makes the market

Authorized participants · N-CEN, the year to Sep 30, 2024
Active dealers
3
of 3 authorized
Largest
59%
of creations and redemptions
One dealer
No
3 active

3 of 3 authorized participants created or redeemed ARKY shares in the year to Sep 30, 2024. From the fund’s Form N-CEN, filed Dec 13, 2024.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: Merrill Lynch Professional Clearing Corp. (59.0%), J.P. Morgan Securities LLC (22.4%), Jane Street Capital, LLC (18.6%).

What retail orders paid

One way on $10,000, Sep 2026
All wholesalers read
$1.96
Fidelity customers
−$2.65
Vanguard customers
−$2.45
Robinhood customers
$5.38
Schwab customers
$9.15

In Sep 2026, retail market orders in ARKY paid $1.96 one way on $10,000, against $16 at the quote.

91% of shares filled better than the quote.

ARKY ranked 2050th of 4,090 ETFs by retail order activity in Sep 2026, an ETFIQ estimate.

0.0011% of the market-order dollars in 4 retail brokers’ reports. Buys and sells together. Retail activity ranking →

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.
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 ARKY?

ARKY’s latest Form N-CEN, for the period ending Sep 30, 2024, lists 3 authorized participants (APs), and 3 created or redeemed shares. The largest were Merrill Lynch Professional Clearing Corp. (59.0%), J.P. Morgan Securities LLC (22.4%), Jane Street Capital, LLC (18.6%) of the dollars its APs created and redeemed.

Who is the LMM for ARKY?

ARKY’s lead market maker (LMM) on Cboe BZX is Citadel Securities LLC. Lead market maker per Cboe BZX, 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 →ARKY fund page→
Sources and dates
DealersForm N-CEN · the year to Sep 30, 2024
Retail ordersSEC Rule 605 reports · Sep 2026

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

Cite this pageCitation, APA and Markdown

ETFIQ, ARKY trading: cost, capacity, premium and dealers, data as of Dec 13, 2024. https://etfiq.com/funds/arky/trading/

Open data →

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