{"url":"https://etfiq.com/funds/bzz/trading/","section":"funds","title":"BZZ Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 11, 2026, BZZ closed +0.09% from its NAV, and on 95% of the 19 days to then it was within \u00b10.18%. No fund is recommended.","as_of":"Nov 11, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/bzz/trading/#data","name":"BZZ trading costs and liquidity","description":"As of Nov 11, 2026, BZZ closed +0.09% from its NAV, and on 95% of the 19 days to then it was within \u00b10.18%. No fund is recommended.","url":"https://etfiq.com/funds/bzz/trading/","dateModified":"2026-11-11","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":"Does BZZ trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed +0.09% from its NAV on Nov 11, 2026. On 95% of the 19 days to then it was within \u00b10.18%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"Who is the LMM for BZZ?","acceptedAnswer":{"@type":"Answer","text":"BZZ\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/bzz#fund","name":"Corgi Drones & Urban Air Mobility ETF","alternateName":"BZZ","url":"https://etfiq.com/funds/bzz","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"BZZ"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/bzz#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"BZZ","item":"https://etfiq.com/funds/bzz"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/bzz/trading/"}]},{"@type":"WebPage","name":"BZZ Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 11, 2026, BZZ closed +0.09% from its NAV, and on 95% of the 19 days to then it was within \u00b10.18%. No fund is recommended.","url":"https://etfiq.com/funds/bzz/trading/","dateModified":"2026-11-11","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4471,"truncated":false,"content":"ETFIQ / BZZ / Trading \n \n As of Nov 11, 2026. Rebuilt every trading night.\n BZZ bid-ask spread and liquidity\n As of Nov 11, 2026, BZZ closed +0.09% from its NAV, and on 95% of the 19 days to then it was within \u00b10.18%.\n IQ Liquidity Score\n Not scored, 1 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 Not measured: the issuer's 30-day median spread is not read for this fund Capacity, 26.8 Holdings can absorb $6.4m a day, Nov 11, 2026 Price fidelity Not measured: 19 days of closing premium are held, under the 20 needed Primary market Not measured: no N-CEN ETF row for series S000102690 in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: 2 of the 10 worst days and 17 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Premium or discount to NAV\n Latest close, Nov 11, 2026: +0.09%\n 95% of days within: \u00b10.18%\n Days more than 1% from NAV: 0 of 19\n Widest: \u22120.18%, Oct 30, 2026\n Close against the NAV its issuer struck the same day, 19 days from Sep 11, 2026 to Nov 11, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price.\n Capacity\n Its holdings can absorb $6.4m a day, measured on its own holdings, as of Nov 11, 2026. The holding that sets the limit is AIRO Group Holdings Inc (AIRO), 2.69% of the fund.\n How to trade BZZ\n When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund\u2019s own day once it has trade data. Size Up to $63,827 is 1% of what its holdings can absorb in a day, for a buy or a sell. Watch The premium. On 95% of days it is within \u00b10.18%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. What retail orders paid\n In Sep 2026, retail market orders in BZZ paid $0.85 one way on $10,000, against $13 at the quote. 98% of shares filled better than the quote.\n BZZ: what retail market orders paid one way on $10,000, Sep 2026, half the effective spread. Source: SEC Rule 605 reports; computed by ETFIQ. Orders One way on $10,000 \n All wholesalers read $0.85 \n Schwab customers $6.04 \n Fidelity customers $7.85 \n Where it trades\n In Q2 2026, odd lots were 3.5% of BZZ\u2019s exchange volume.\n 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 Does BZZ trade at a premium or discount to NAV? It closed +0.09% from its NAV on Nov 11, 2026. On 95% of the 19 days to then it was within \u00b10.18%, and it closed more than 1% from NAV on 0 of them. Who is the LMM for BZZ? BZZ\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026. Sources and dates\n Premium: ETFIQ, close against the issuer\u2019s NAV, Sep 11, 2026 to Nov 11, 2026.\n Capacity: ETFIQ, from each holding\u2019s 20-day median dollar volume, to Nov 11, 2026.\n Retail orders: SEC Rule 605 reports, Sep 2026, from Charles Schwab, G1 Execution Services, Fidelity Brokerage Services, Robinhood, HRT Financial, Jane Street Capital, Vanguard. Computed by ETFIQ. Citadel Securities refused ETFIQ\u2019s request, so its orders are not counted.\n Where it trades: SEC MIDAS, Q2 2026.\n Where to next\n BZZ 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 BZZ 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, BZZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/bzz/trading/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, BZZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/bzz/trading/ APA ETFIQ. (Nov 11, 2026). BZZ trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/bzz/trading/ Markdown [BZZ trading: cost, capacity, premium and dealers (ETFIQ, Nov 11, 2026)](https://etfiq.com/funds/bzz/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":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, BZZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/bzz/trading/"}