{"url":"https://etfiq.com/funds/avdv/trading/","section":"funds","title":"AVDV Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Oct 22, 2026, AVDV\u2019s median bid-ask spread over 30 days was 0.06%. A $10,000 order costs about $3.00 one way.","as_of":"Oct 22, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/avdv/trading/#data","name":"AVDV trading costs and liquidity","description":"As of Oct 22, 2026, AVDV\u2019s median bid-ask spread over 30 days was 0.06%. A $10,000 order costs about $3.00 one way.","url":"https://etfiq.com/funds/avdv/trading/","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","variableMeasured":["30-day median bid-ask spread","Premium or discount to NAV","Capacity","Active authorized participants","IQ Liquidity Score","Cost to trade by order size"],"distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}],"publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What is AVDV\u2019s bid-ask spread?","acceptedAnswer":{"@type":"Answer","text":"0.06% of the midpoint, the median over the 30 days to Oct 22, 2026, as its issuer states it. Half of it is about 4\u00a2 a share at the Oct 22 close."}},{"@type":"Question","name":"Does AVDV trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed +0.17% from its NAV on Oct 22, 2026. On 95% of the 15 days to then it was within \u00b10.54%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"Who is the AP for AVDV?","acceptedAnswer":{"@type":"Answer","text":"AVDV\u2019s latest Form N-CEN, for the period ending Aug 31, 2024, lists 14 authorized participants (APs), and 4 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (39.1%), BofA Securities, Inc. (35.3%), J.P. Morgan Securities LLC (23.4%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for AVDV?","acceptedAnswer":{"@type":"Answer","text":"AVDV\u2019s lead market maker (LMM) on NYSE Arca is Citadel Securities LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026."}},{"@type":"Question","name":"What does it cost to trade $10,000 of AVDV?","acceptedAnswer":{"@type":"Answer","text":"About $3.00 one way, 0.03%: half its 30-day median spread. In and out costs twice that."}},{"@type":"Question","name":"How do I place a limit order for AVDV?","acceptedAnswer":{"@type":"Answer","text":"Set the limit at the midpoint + 4\u00a2 to buy, or the midpoint \u2212 4\u00a2 to sell, in your broker\u2019s quote. At the Oct 22 close of $105.75, that\u2019s $105.79 to buy and $105.71 to sell."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/avdv#fund","name":"Avantis International Small Cap Value ETF","alternateName":"AVDV","url":"https://etfiq.com/funds/avdv","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"AVDV"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/avdv#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"AVDV","item":"https://etfiq.com/funds/avdv"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/avdv/trading/"}]},{"@type":"WebPage","name":"AVDV Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Oct 22, 2026, AVDV\u2019s median bid-ask spread over 30 days was 0.06%. A $10,000 order costs about $3.00 one way.","url":"https://etfiq.com/funds/avdv/trading/","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":5332,"truncated":false,"content":"ETFIQ / AVDV / Trading \n \n As of Oct 22, 2026. Rebuilt every trading night.\n AVDV bid-ask spread and liquidity\n As of Oct 22, 2026, AVDV\u2019s median bid-ask spread over 30 days was 0.06%.\n IQ Liquidity Score\n Not scored, 2 of 6 measured.\n A fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund can be bought and sold, not whether to own it. How the score is built \n Cost to trade, 76.1 0.06% median spread, 30 days to Oct 22, 2026 Capacity Not measured: 9.7% of its long weight could be measured; the largest part not measured is foreign Price fidelity Not measured: 15 days of closing premium are held, under the 20 needed Primary market, 65.0 4 active dealers of 14; largest 39% of creations and redemptions, N-CEN to Aug 31, 2024 Bad-day behaviour Not measured: 0 of the 10 worst days and 15 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Cost for your order\n AVDV one-way cost at each order size: half its 30-day median spread to Oct 22, 2026; sizes above $10,000 add an estimate of market impact. Source: ETFIQ. Order Dollars Percent Basis \n $1,000 $0.30 0.03% spread \n $10,000 $3.00 0.03% spread \n Premium or discount to NAV\n Latest close, Oct 22, 2026: +0.17%\n 95% of days within: \u00b10.54%\n Days more than 1% from NAV: 0 of 15\n Widest: +0.54%, Oct 8, 2026\n Close against the NAV its issuer struck the same day, 15 days from Sep 11, 2026 to Oct 22, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price. Its holdings trade on markets that close before New York, so its closing premium carries the move since then.\n Capacity\n Not measured: 9.7% of its long weight could be measured; the largest part not measured is foreign.\n Dealers\n 4 active of 14 authorized participants; the largest did 39% of creations and redemptions, in the year to Aug 31, 2024 (Form N-CEN filed Nov 12, 2024).\n The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (39.1%), BofA Securities, Inc. (35.3%), J.P. Morgan Securities LLC (23.4%), UBS Securities LLC (2.2%). 10 more were listed and created or redeemed nothing.\n How to trade AVDV\n Order type Limit: midpoint + 4\u00a2 to buy, midpoint \u2212 4\u00a2 to sell. At the Oct 22 close of $105.75, that\u2019s $105.79 to buy and $105.71 to sell. When Its holdings trade on markets that close before New York, so its price can drift from their value later in the day. Watch The premium. On 95% of days it is within \u00b10.54%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. Coming with trade data\n Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n What is AVDV\u2019s bid-ask spread? 0.06% of the midpoint, the median over the 30 days to Oct 22, 2026, as its issuer states it. Half of it is about 4\u00a2 a share at the Oct 22 close. Does AVDV trade at a premium or discount to NAV? It closed +0.17% from its NAV on Oct 22, 2026. On 95% of the 15 days to then it was within \u00b10.54%, and it closed more than 1% from NAV on 0 of them. Who is the AP for AVDV? AVDV\u2019s latest Form N-CEN, for the period ending Aug 31, 2024, lists 14 authorized participants (APs), and 4 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (39.1%), BofA Securities, Inc. (35.3%), J.P. Morgan Securities LLC (23.4%) of the dollars its APs created and redeemed. Who is the LMM for AVDV? AVDV\u2019s lead market maker (LMM) on NYSE Arca is Citadel Securities LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. What does it cost to trade $10,000 of AVDV? About $3.00 one way, 0.03%: half its 30-day median spread. In and out costs twice that. How do I place a limit order for AVDV? Set the limit at the midpoint + 4\u00a2 to buy, or the midpoint \u2212 4\u00a2 to sell, in your broker\u2019s quote. At the Oct 22 close of $105.75, that\u2019s $105.79 to buy and $105.71 to sell. Sources and dates\n Spread: Avantis (fund page), 30 days to Oct 22, 2026 ( the issuer\u2019s page ).\n Premium: ETFIQ, close against the issuer\u2019s NAV, Sep 11, 2026 to Oct 22, 2026.\n Dealers: Form N-CEN, the year to Aug 31, 2024, accession 0001145549-24-068816.\n Where to next\n AVDV fund page ETF trading costs and liquidity Limit orders vs market orders for ETFs Why low volume does not mean illiquid How the IQ Liquidity Score is built Compare AVDV with another fund The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources \n Cite this page. ETFIQ, AVDV trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/avdv/trading/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, AVDV trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/avdv/trading/ APA ETFIQ. (Oct 22, 2026). AVDV trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/avdv/trading/ Markdown [AVDV trading: cost, capacity, premium and dealers (ETFIQ, Oct 22, 2026)](https://etfiq.com/funds/avdv/trading/)","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":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, AVDV trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/avdv/trading/"}