{"url":"https://etfiq.com/funds/dstx/trading/","section":"funds","title":"DSTX Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"DSTX trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Dec 16, 2024","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/dstx/trading/#data","name":"DSTX trading costs and liquidity","description":"DSTX 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/dstx/trading/","dateModified":"2024-12-16","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 AP for DSTX?","acceptedAnswer":{"@type":"Answer","text":"DSTX\u2019s latest Form N-CEN, for the period ending Sep 30, 2024, lists 2 authorized participants (APs), and 2 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (94.4%), J.P. Morgan Securities LLC (5.6%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for DSTX?","acceptedAnswer":{"@type":"Answer","text":"DSTX 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\u2019s own program, so this does not mean it has no LMM."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/dstx#fund","name":"Distillate International Fundamental Stability & Value ETF","alternateName":"DSTX","url":"https://etfiq.com/funds/dstx","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"DSTX"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/dstx#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"DSTX","item":"https://etfiq.com/funds/dstx"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/dstx/trading/"}]},{"@type":"WebPage","name":"DSTX Bid-Ask Spread, Liquidity and NAV Premium","description":"DSTX 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/dstx/trading/","dateModified":"2024-12-16","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3393,"truncated":false,"content":"ETFIQ / DSTX / Trading \n \n As of Dec 16, 2024. Rebuilt every trading night.\n DSTX bid-ask spread and liquidity\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 Flags: One dealer.\n Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: 39.3% of its long weight could be measured; the largest part not measured is foreign Price fidelity Not measured: no closing premium is held for this fund Primary market, 30.0 2 active dealers of 2; largest 94% of creations and redemptions, N-CEN to Sep 30, 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) \n Capacity\n Not measured: 39.3% of its long weight could be measured; the largest part not measured is foreign.\n Dealers\n 2 active of 2 authorized participants; the largest did 94% of creations and redemptions, in the year to Sep 30, 2024 (Form N-CEN filed Dec 16, 2024).\n The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (94.4%), J.P. Morgan Securities LLC (5.6%).\n How to trade DSTX\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 AP for DSTX? DSTX\u2019s latest Form N-CEN, for the period ending Sep 30, 2024, lists 2 authorized participants (APs), and 2 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (94.4%), J.P. Morgan Securities LLC (5.6%) of the dollars its APs created and redeemed. Who is the LMM for DSTX? DSTX 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\u2019s own program, so this does not mean it has no LMM. Sources and dates\n Dealers: Form N-CEN, the year to Sep 30, 2024, accession 0001145549-24-078714.\n Where to next\n DSTX 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 DSTX 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, DSTX trading: cost, capacity, premium and dealers, data as of Dec 16, 2024. https://etfiq.com/funds/dstx/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, DSTX trading: cost, capacity, premium and dealers, data as of Dec 16, 2024. https://etfiq.com/funds/dstx/trading/ APA ETFIQ. (Dec 16, 2024). DSTX trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/dstx/trading/ Markdown [DSTX trading: cost, capacity, premium and dealers (ETFIQ, Dec 16, 2024)](https://etfiq.com/funds/dstx/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, DSTX trading: cost, capacity, premium and dealers, data as of Dec 16, 2024. https://etfiq.com/funds/dstx/trading/"}