# DVQQ Bid-Ask Spread, Liquidity and NAV Premium > DVQQ trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated. Data as of Nov 11, 2026. Rebuilt every trading night. As of Nov 11, 2026. Rebuilt every trading night. ## DVQQ bid-ask spread and liquidity As of Nov 11, 2026, DVQQ’s holdings can absorb $2.9bn a day. ### IQ Liquidity Score Not scored, 2 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, 100.0 Holdings can absorb $2.9bn a day, Nov 11, 2026 Price fidelity Not measured: no closing premium is held for this fund Primary market, 65.0 3 active dealers of 5; largest 69% of creations and redemptions, N-CEN to Oct 31, 2025 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 Its holdings can absorb $2.9bn a day, measured on its own holdings, as of Nov 11, 2026. The holding that sets the limit is INVESCO QQQ TRUST SERIES 1 (QQQ), 47.84% of the fund. ### Dealers 3 active of 5 authorized participants; the largest did 69% of creations and redemptions, in the year to Oct 31, 2025 (Form N-CEN filed Feb 27, 2026). The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (69.2%), Virtu Americas LLC (17.6%), BofA Securities, Inc. (13.2%). 2 more were listed and created or redeemed nothing. ### How to trade DVQQ 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. Size Up to $29m is 1% of what its holdings can absorb in a day, for a buy or a sell. ### Where it trades In Q2 2026, 45% of DVQQ’s shares traded off exchange on the median day. Odd lots, under 100 shares, were 7.4% of its 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 DVQQ? DVQQ’s latest Form N-CEN, for the period ending Oct 31, 2025, lists 5 authorized participants (APs), and 3 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (69.2%), Virtu Americas LLC (17.6%), BofA Securities, Inc. (13.2%) of the dollars its APs created and redeemed. Who is the LMM for DVQQ? DVQQ 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 - Capacity: ETFIQ, from each holding’s 20-day median dollar volume, to Nov 11, 2026. - Dealers: Form N-CEN, the year to Oct 31, 2025, accession 0001003715-26-000546. - Where it trades: SEC MIDAS, Q2 2026, against the fund’s daily volume from Tiingo. ### 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, DVQQ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/dvqq/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/dvqq/trading/