# HFSI Bid-Ask Spread, Liquidity and NAV Premium

> As of Oct 22, 2026, HFSI’s median bid-ask spread over 30 days was 0.03%. A $10,000 order costs about $1.50 one way.

Data as of Oct 22, 2026. Rebuilt every trading night.

As of Oct 22, 2026. Rebuilt every trading night.

## HFSI bid-ask spread and liquidity

As of Oct 22, 2026, HFSI’s median bid-ask spread over 30 days was 0.03%.

### 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

Flags: One dealer.

Cost to trade, 91.2 0.03% median spread, 30 days to Oct 22, 2026 Capacity Not measured: its holdings are bonds, which have no volume source here Price fidelity Not measured: no closing premium is held for this fund Primary market, 30.0 2 active dealers of 13; largest 97% of creations and redemptions, N-CEN to Jul 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)

### Cost for your order

| Order | Dollars | Percent | Basis |
| --- | --- | --- | --- |
| $1,000 | $0.15 | 0.015% | spread |
| $10,000 | $1.50 | 0.015% | spread |

### Capacity

Not measured: its holdings are bonds, which have no volume source here.

### Dealers

2 active of 13 authorized participants; the largest did 97% of creations and redemptions, in the year to Jul 31, 2025 (Form N-CEN filed Oct 9, 2025).

The active authorized participants, largest first, by share of the dollars created and redeemed: J.P. Morgan Securities LLC (97.0%), Virtu Americas LLC (3.0%). 11 more were listed and created or redeemed nothing.

### How to trade HFSI

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.

### 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

What is HFSI’s bid-ask spread? 0.03% of the midpoint, the median over the 30 days to Oct 22, 2026, as its issuer states it. Who is the AP for HFSI? HFSI’s latest Form N-CEN, for the period ending Jul 31, 2025, lists 13 authorized participants (APs), and 2 created or redeemed shares. The largest were J.P. Morgan Securities LLC (97.0%), Virtu Americas LLC (3.0%) of the dollars its APs created and redeemed. Who is the LMM for HFSI? HFSI’s lead market maker (LMM) on Cboe BZX is Jane Street Capital, LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026. What does it cost to trade $10,000 of HFSI? About $1.50 one way, 0.015%: half its 30-day median spread. In and out costs twice that.

### Sources and dates

- Spread: Hartford (fund page), 30 days to Oct 22, 2026.

- Dealers: Form N-CEN, the year to Jul 31, 2025, accession 0001410368-25-014111.

### 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

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, HFSI trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/hfsi/trading/
Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/funds/hfsi/trading/