# DDX Bid-Ask Spread, Liquidity and NAV Premium > DDX trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated. Data as of Oct 11, 2024. Rebuilt every trading night. As of Oct 11, 2024. Rebuilt every trading night. ## DDX bid-ask spread and liquidity In the year to Jul 31, 2024, 4 of DDX’s 4 authorized participants created or redeemed shares. ### IQ Liquidity Score Not scored, 1 of 6 measured. 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 Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: 47.6% of its long weight could be measured; the largest part not measured is bond Price fidelity Not measured: no closing premium is held for this fund Primary market, 65.0 4 active dealers of 4; largest 43% of creations and redemptions, N-CEN to Jul 31, 2024 Bad-day behaviour Not measured: no daily closing premium is held for this fund Depth Not measured: needs trade and quote data (Phase 2) ### Capacity Not measured: 47.6% of its long weight could be measured; the largest part not measured is bond. ### Dealers 4 active of 4 authorized participants; the largest did 43% of creations and redemptions, in the year to Jul 31, 2024 (Form N-CEN filed Oct 11, 2024). The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (43.4%), Merrill Lynch Professional Clearing Corp. (23.6%), RBC Capital Markets, LLC (19.4%), Virtu Americas LLC (13.6%). ### How to trade DDX When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund’s own day once it has trade data. ### Where it trades In Q2 2026, odd lots were 4.3% of DDX’s exchange volume. ### Coming with trade data Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction’s share, each once ETFIQ has trade and quote data. ### Questions people ask Who is the AP for DDX? DDX’s latest Form N-CEN, for the period ending Jul 31, 2024, lists 4 authorized participants (APs), and 4 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (43.4%), Merrill Lynch Professional Clearing Corp. (23.6%), RBC Capital Markets, LLC (19.4%) of the dollars its APs created and redeemed. Who is the LMM for DDX? DDX is on none of the lead market maker (LMM) lists ETFIQ reads, from NYSE Arca, Cboe BZX and Nasdaq. Each list covers only that exchange’s own program, so this does not mean it has no LMM. ### Sources and dates - Dealers: Form N-CEN, the year to Jul 31, 2024, accession 0001145549-24-063846. - Where it trades: SEC MIDAS, Q2 2026. ### Where to next The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, DDX trading: cost, capacity, premium and dealers, data as of Oct 11, 2024. https://etfiq.com/funds/ddx/trading/ Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms. HTML: https://etfiq.com/funds/ddx/trading/