{"url":"https://etfiq.com/funds/dfac/trading/","section":"funds","title":"DFAC Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"DFAC trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Oct 28, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/dfac/trading/#data","name":"DFAC trading costs and liquidity","description":"DFAC trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/dfac/trading/","dateModified":"2026-10-28","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":"Who is the LMM for DFAC?","acceptedAnswer":{"@type":"Answer","text":"DFAC\u2019s lead market maker (LMM) on NYSE Arca is Virtu Americas LLC. Lead market maker per NYSE Arca, as of Oct 25, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/dfac#fund","name":"U.S. Core Equity 2 Portfolio ETF Class Shares","alternateName":"DFAC","url":"https://etfiq.com/funds/dfac","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"DFAC"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/dfac#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"DFAC","item":"https://etfiq.com/funds/dfac"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/dfac/trading/"}]},{"@type":"WebPage","name":"DFAC Bid-Ask Spread, Liquidity and NAV Premium","description":"DFAC trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/dfac/trading/","dateModified":"2026-10-28","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2651,"truncated":false,"content":"ETFIQ / DFAC / Trading \n \n As of Oct 28, 2026. Rebuilt every trading night.\n DFAC bid-ask spread and liquidity\n As of Oct 28, 2026, DFAC is not scored: ETFIQ reads 0 of its 6 trading measures.\n IQ Liquidity Score\n Not scored, 0 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 Not measured: 0.0% of its long weight could be measured; the largest part not measured is no-volume Price fidelity Not measured: no closing premium is held for this fund Primary market Not measured: no N-CEN ETF row for series S000000980 in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: no daily closing premium is held for this fund Depth Not measured: needs trade and quote data (Phase 2) \n Capacity\n Not measured: 0.0% of its long weight could be measured; the largest part not measured is no-volume.\n How to trade DFAC\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. 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 Who is the LMM for DFAC? DFAC\u2019s lead market maker (LMM) on NYSE Arca is Virtu Americas LLC. Lead market maker per NYSE Arca, as of Oct 25, 2026. Sources and dates\n Where to next\n DFAC fund page ETF trading costs and liquidity Limit orders vs market orders for ETFs How the IQ Liquidity Score is built Compare DFAC 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, DFAC trading: cost, capacity, premium and dealers, data as of Oct 28, 2026. https://etfiq.com/funds/dfac/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, DFAC trading: cost, capacity, premium and dealers, data as of Oct 28, 2026. https://etfiq.com/funds/dfac/trading/ APA ETFIQ. (Oct 28, 2026). DFAC trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/dfac/trading/ Markdown [DFAC trading: cost, capacity, premium and dealers (ETFIQ, Oct 28, 2026)](https://etfiq.com/funds/dfac/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, DFAC trading: cost, capacity, premium and dealers, data as of Oct 28, 2026. https://etfiq.com/funds/dfac/trading/"}