{"url":"https://etfiq.com/funds/ebiz/trading/","section":"funds","title":"EBIZ Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 11, 2026, EBIZ\u2019s median bid-ask spread over 30 days was 0.42%. A $10,000 order costs about $21 one way.","as_of":"Nov 11, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/ebiz/trading/#data","name":"EBIZ trading costs and liquidity","description":"As of Nov 11, 2026, EBIZ\u2019s median bid-ask spread over 30 days was 0.42%. A $10,000 order costs about $21 one way.","url":"https://etfiq.com/funds/ebiz/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":"What is EBIZ\u2019s bid-ask spread?","acceptedAnswer":{"@type":"Answer","text":"0.42% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it. Half of it is about 7\u00a2 a share at the Nov 11 close."}},{"@type":"Question","name":"Does EBIZ trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed \u22120.42% from its NAV on Nov 11, 2026. On 95% of the 7 days to then it was within \u00b10.42%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"Who is the AP for EBIZ?","acceptedAnswer":{"@type":"Answer","text":"EBIZ\u2019s latest Form N-CEN, for the period ending Oct 31, 2025, lists 22 authorized participants (APs), and 7 created or redeemed shares. The largest were J.P. Morgan Securities LLC (33.4%), Mizuho Securities USA LLC (22.2%), Goldman Sachs & Co. LLC (19.0%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for EBIZ?","acceptedAnswer":{"@type":"Answer","text":"EBIZ 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":"Question","name":"What does it cost to trade $10,000 of EBIZ?","acceptedAnswer":{"@type":"Answer","text":"About $21 one way, 0.21%: half its 30-day median spread. In and out costs twice that."}},{"@type":"Question","name":"How do I place a limit order for EBIZ?","acceptedAnswer":{"@type":"Answer","text":"Set the limit at the midpoint + 7\u00a2 to buy, or the midpoint \u2212 7\u00a2 to sell, in your broker\u2019s quote. At the Nov 11 close of $29.37, that\u2019s $29.44 to buy and $29.30 to sell."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/ebiz#fund","name":"Global X E-commerce ETF","alternateName":"EBIZ","url":"https://etfiq.com/funds/ebiz","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"EBIZ"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/ebiz#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"EBIZ","item":"https://etfiq.com/funds/ebiz"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/ebiz/trading/"}]},{"@type":"WebPage","name":"EBIZ Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 11, 2026, EBIZ\u2019s median bid-ask spread over 30 days was 0.42%. A $10,000 order costs about $21 one way.","url":"https://etfiq.com/funds/ebiz/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":6557,"truncated":false,"content":"ETFIQ / EBIZ / Trading \n \n As of Nov 11, 2026. Rebuilt every trading night.\n EBIZ bid-ask spread and liquidity\n As of Nov 11, 2026, EBIZ\u2019s median bid-ask spread over 30 days was 0.42%.\n IQ Liquidity Score\n Not scored, 2 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, 33.9 0.42% median spread, 30 days to Nov 11, 2026 Capacity Holdings can absorb up to $25,199 a day; part of the book has no volume data Price fidelity Not measured: 7 days of closing premium are held, under the 20 needed Primary market, 85.0 7 active dealers of 22; largest 33% of creations and redemptions, N-CEN to Oct 31, 2025 Bad-day behaviour Not measured: 0 of the 10 worst days and 7 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Cost for your order\n EBIZ one-way cost at each order size: half its 30-day median spread to Nov 11, 2026; sizes above $10,000 add an estimate of market impact. Source: ETFIQ. Order Dollars Percent Basis \n $1,000 $2.10 0.21% spread \n $10,000 $21 0.21% spread \n Premium or discount to NAV\n Latest close, Nov 11, 2026: \u22120.42%\n 95% of days within: \u00b10.42%\n Days more than 1% from NAV: 0 of 7\n Widest: \u22120.42%, Nov 11, 2026\n Close against the NAV its issuer struck the same day, 7 days from Oct 2, 2026 to Nov 11, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price.\n Capacity\n Its holdings can absorb up to $25,199 a day, measured on its own holdings, as of Nov 11, 2026. The holding that sets the limit is ALLEGRO.EU SA (ALEUY), 5.34% of the fund.\n Dealers\n 7 active of 22 authorized participants; the largest did 33% of creations and redemptions, in the year to Oct 31, 2025 (Form N-CEN filed Mar 12, 2026).\n The active authorized participants, largest first, by share of the dollars created and redeemed: J.P. Morgan Securities LLC (33.4%), Mizuho Securities USA LLC (22.2%), Goldman Sachs & Co. LLC (19.0%), BofA Securities, Inc. (11.2%), Jane Street Capital, LLC (9.5%), Virtu Americas LLC (3.9%), UBS Securities LLC (0.7%). 15 more were listed and created or redeemed nothing.\n How to trade EBIZ\n Order type Limit: midpoint + 7\u00a2 to buy, midpoint \u2212 7\u00a2 to sell. At the Nov 11 close of $29.37, that\u2019s $29.44 to buy and $29.30 to sell. 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 Part of its book has no volume data, so the room for a large order is an upper bound. Watch The premium. On 95% of days it is within \u00b10.42%; 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 EBIZ paid $5.79 one way on $10,000, against $20 at the quote. 90% of shares filled better than the quote.\n EBIZ: 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 $5.79 \n Fidelity customers $3.09 \n Schwab customers $9.27 \n Where it trades\n In Q2 2026, 84% of EBIZ\u2019s shares traded off exchange on the median day. Odd lots, under 100 shares, were 23.0% of its 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 What is EBIZ\u2019s bid-ask spread? 0.42% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it. Half of it is about 7\u00a2 a share at the Nov 11 close. Does EBIZ trade at a premium or discount to NAV? It closed \u22120.42% from its NAV on Nov 11, 2026. On 95% of the 7 days to then it was within \u00b10.42%, and it closed more than 1% from NAV on 0 of them. Who is the AP for EBIZ? EBIZ\u2019s latest Form N-CEN, for the period ending Oct 31, 2025, lists 22 authorized participants (APs), and 7 created or redeemed shares. The largest were J.P. Morgan Securities LLC (33.4%), Mizuho Securities USA LLC (22.2%), Goldman Sachs & Co. LLC (19.0%) of the dollars its APs created and redeemed. Who is the LMM for EBIZ? EBIZ 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. What does it cost to trade $10,000 of EBIZ? About $21 one way, 0.21%: half its 30-day median spread. In and out costs twice that. How do I place a limit order for EBIZ? Set the limit at the midpoint + 7\u00a2 to buy, or the midpoint \u2212 7\u00a2 to sell, in your broker\u2019s quote. At the Nov 11 close of $29.37, that\u2019s $29.44 to buy and $29.30 to sell. Sources and dates\n Spread: Global X (fund page), 30 days to Nov 11, 2026.\n Premium: ETFIQ, close against the issuer\u2019s NAV, Oct 2, 2026 to Nov 11, 2026.\n Capacity: ETFIQ, from each holding\u2019s 20-day median dollar volume, to Nov 11, 2026.\n Dealers: Form N-CEN, the year to Oct 31, 2025, accession 0002048251-26-001907.\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, against the fund\u2019s daily volume from Tiingo.\n Where to next\n EBIZ 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 EBIZ 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, EBIZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/ebiz/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, EBIZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/ebiz/trading/ APA ETFIQ. (Nov 11, 2026). EBIZ trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/ebiz/trading/ Markdown [EBIZ trading: cost, capacity, premium and dealers (ETFIQ, Nov 11, 2026)](https://etfiq.com/funds/ebiz/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, EBIZ trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/ebiz/trading/"}