{"url":"https://etfiq.com/funds/jelh/trading/","section":"funds","title":"JELH Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 11, 2026, JELH\u2019s median bid-ask spread over 30 days was 0.44%. A $10,000 order costs about $22 one way.","as_of":"Nov 11, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/jelh/trading/#data","name":"JELH trading costs and liquidity","description":"As of Nov 11, 2026, JELH\u2019s median bid-ask spread over 30 days was 0.44%. A $10,000 order costs about $22 one way.","url":"https://etfiq.com/funds/jelh/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 JELH\u2019s bid-ask spread?","acceptedAnswer":{"@type":"Answer","text":"0.44% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it."}},{"@type":"Question","name":"Who is the LMM for JELH?","acceptedAnswer":{"@type":"Answer","text":"JELH\u2019s lead market maker (LMM) on Cboe BZX is Old Mission Capital LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026."}},{"@type":"Question","name":"What does it cost to trade $10,000 of JELH?","acceptedAnswer":{"@type":"Answer","text":"About $22 one way, 0.22%: half its 30-day median spread. In and out costs twice that."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/jelh#fund","name":"Janus Henderson Equity Linked High Income ETF","alternateName":"JELH","url":"https://etfiq.com/funds/jelh","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"JELH"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/jelh#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"JELH","item":"https://etfiq.com/funds/jelh"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/jelh/trading/"}]},{"@type":"WebPage","name":"JELH Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 11, 2026, JELH\u2019s median bid-ask spread over 30 days was 0.44%. A $10,000 order costs about $22 one way.","url":"https://etfiq.com/funds/jelh/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":4300,"truncated":false,"content":"ETFIQ / JELH / Trading \n \n As of Nov 11, 2026. Rebuilt every trading night.\n JELH bid-ask spread and liquidity\n As of Nov 11, 2026, JELH\u2019s median bid-ask spread over 30 days was 0.44%.\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 Cost to trade, 32.9 0.44% median spread, 30 days to Nov 11, 2026 Capacity Not measured: no book of its holdings is read Price fidelity Not measured: no closing premium is held for this fund Primary market Not measured: it first traded on 2026-04-22, and no N-CEN ETF row for series S000096912 is 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 Cost for your order\n JELH 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 $2.20 0.22% spread \n $10,000 $22 0.22% spread \n Capacity\n Not measured: no book of its holdings is read.\n How to trade JELH\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. What retail orders paid\n In Sep 2026, retail market orders in JELH paid $31 one way on $10,000, against $19 at the quote. 70% of shares filled better than the quote.\n JELH: 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 $31 \n Fidelity customers \u2212$0.65 \n Robinhood customers $17 \n Schwab customers $26 \n JELH ranked 3023rd of 4,090 ETFs by retail order activity in Sep 2026, an ETFIQ estimate. It drew 0.0003% of the market-order dollars in 4 retail brokers\u2019 reports. Retail activity ranking \n Where it trades\n In Q2 2026, 57% of JELH\u2019s shares traded off exchange on the median day. Odd lots, under 100 shares, were 4.0% of its exchange volume.\n Coming with trade data\n Spread through the day, buyers against sellers, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n What is JELH\u2019s bid-ask spread? 0.44% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it. Who is the LMM for JELH? JELH\u2019s lead market maker (LMM) on Cboe BZX is Old Mission Capital LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026. What does it cost to trade $10,000 of JELH? About $22 one way, 0.22%: half its 30-day median spread. In and out costs twice that. Sources and dates\n Spread: Janus Henderson (fund page), 30 days to Nov 11, 2026 ( the issuer\u2019s page ).\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 JELH 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 JELH 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, JELH trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/jelh/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, JELH trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/jelh/trading/ APA ETFIQ. (Nov 11, 2026). JELH trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/jelh/trading/ Markdown [JELH trading: cost, capacity, premium and dealers (ETFIQ, Nov 11, 2026)](https://etfiq.com/funds/jelh/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, JELH trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/jelh/trading/"}