IQ
JPIE
JPMorgan Income ETF
Category BondsIssuer JPMorganNet assets $11.5bnFee 0.39%

JPIE bid-ask spread and liquidity

See what JPIE costs to trade and how closely it tracks its value.

85
Trades like a giant

IQ Liquidity Score

· 3 of 6 measured · Nov 12, 2026
59th percentile of 340 bonds ETFs
$1.11
one way, a $10,000 order
+0.39%
latest close, Nov 12
±0.49%
95% of days within
0 · Hard to trade100 · Trades like a giant

How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →

Trades like a giant: trades at a typical spread of 0.0222%.

askIQ about this page

askIQ about JPIE bid-ask spread and liquidity
Cost to trade
0.02% median spread, 30 days to Nov 11, 2026
97.7
Capacity
Not measured · its holdings are bonds, which have no volume source here
·
Price fidelity
95% of days within ±0.49% of NAV, 27 days to Nov 12, 2026
60.5
Primary market
6 active dealers of 20; largest 63% of creations and redemptions, N-CEN to Feb 28, 2026
85.0
Bad-day behaviour
Not measured · 2 of the 10 worst days and 25 other days are held, under the 5 and 60 needed
·
Depth
Not measured · needs trade and quote data
·

Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →

JPIE scores 85 (Trades like a giant), ranked 133 of 340 scored Bonds ETFs plotted here. Spread 0.02% (30-day median, of the price), Nov 12, 2026. A $10,000 order costs about $1.11 each way.

Spread against score

JPIE among Bonds ETFs

Cheaper to trade sits left, easier to trade sits up.

340 scored
Hard to tradeThinLiquid with careLiquidTrades like a giantNov 12, 2026

What a trade costs

One way, half its 30-day median spread; sizes above $10,000 are estimates
JPIE: cost for your order at each size, one way
OrderDollarsPercentBasis
$1,000$0.110.011%tick floor
$10,000$1.110.011%tick floor
At least $1.11 one way at $10,000: half a one-cent tick at its close, since its issuer prints its 30-day median spread as 0.02%. Spread 0.02%, the median over the 30 days to Nov 11, 2026. A round trip costs twice this. Above $10,000 it adds an estimate of price impact.

Full cost to own

At $10,000
1 year
0.82%$82
fee alone 0.39% · $39
5 years
2.38%$238
fee alone 1.95% · $195

Fee, plus the round-trip spread once, plus the median premium paid at entry.

Premium or discount to valueDaily, 27 days to Nov 12, 2026 · the ±1% band marked

Above zero: a premium. Below: a discount.

JPIE premium or discount to NAV, 27 days+1%0−1%Sep 11, 2026Nov 12, 2026
Latest close, Nov 12
+0.39%
95% of days within
±0.49%
Days more than 1% from NAV
0 of 27
Widest
+0.50%, Oct 8, 2026
CapacityWhat the holdings can absorb a day

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

Who makes the market

Authorized participants · N-CEN, the year to Feb 28, 2026
Active dealers
6
of 20 authorized
Largest
63%
of creations and redemptions
One dealer
No
6 active

6 of 20 authorized participants created or redeemed JPIE shares in the year to Feb 28, 2026. From the fund’s Form N-CEN, filed May 13, 2026.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: Jane Street Capital, LLC (63.3%), BofA Securities, Inc. (27.4%), Goldman Sachs & Co. LLC (4.0%), Virtu Americas LLC (3.5%), Macquarie Capital (USA) Inc. (1.5%), BMO Capital Markets Corp. (0.4%). 14 more were listed and created or redeemed nothing.

What retail orders paid

One way on $10,000, Sep 2026
All wholesalers read
$0.49
Robinhood customers
$0.54
Vanguard customers
$0.82
Fidelity customers
$0.88
Schwab customers
$0.93

In Sep 2026, retail market orders in JPIE paid $0.49 one way on $10,000, against $1.12 at the quote.

80% of shares filled better than the quote.

Aug 2025Grey: old format, orders of 100 to 9,999 sharesSep 2026

JPIE ranked 199th of 4,090 ETFs by retail order activity in Sep 2026, an ETFIQ estimate.

0.09% of the market-order dollars in 4 retail brokers’ reports. Buys and sells together. Retail activity ranking →

Where it trades

Q2 2026, 62 trading days
Off exchange
85%
Odd lots, of exchange volume
4.7%

In Q2 2026, 85% of JPIE’s shares traded off exchange on the median day.

Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.

How to place the order

To buy or to sell, up to $100,000
Order type
Limit: midpoint + 1¢ to buy, midpoint − 1¢ to sell.At the Nov 12 close of $44.86, that’s $44.87 to buy and $44.85 to sell.
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Watch
The premium to NAV, charted above: a buyer pays more, and a seller gets less, when it is wide.
Why low volume does not mean illiquid →Limit orders vs market orders for ETFs →
Not measured yet: these need trade data
Spread through the day

Median spread by half hour, 30 days.

Buyers against sellers

Volume bought at the ask against volume sold at the bid.

Large trades

Trades above $500k: how many, and their share of volume.

Closing auction

Share of the day’s volume at the close.

Questions people ask

Is JPIE liquid?

JPIE’s IQ Liquidity Score is 85 of 100, Trades like a giant, the 59th percentile of 340 bonds ETFs, as of Nov 12, 2026.

What is JPIE’s bid-ask spread?

0.02% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it. Half of it is about 1¢ a share at the Nov 12 close.

Does JPIE trade at a premium or discount to NAV?

It closed +0.39% from its NAV on Nov 12, 2026. On 95% of the 27 days to then it was within ±0.49%, and it closed more than 1% from NAV on 0 of them.

Who is the AP for JPIE?

JPIE’s latest Form N-CEN, for the period ending Feb 28, 2026, lists 20 authorized participants (APs), and 6 created or redeemed shares. The largest were Jane Street Capital, LLC (63.3%), BofA Securities, Inc. (27.4%), Goldman Sachs & Co. LLC (4.0%) of the dollars its APs created and redeemed.

Who is the LMM for JPIE?

JPIE’s lead market maker (LMM) on NYSE Arca is Jane Street Capital, LLC. Lead market maker per NYSE Arca, as of Nov 9, 2026.

What does it cost to trade $10,000 of JPIE?

At least $1.11 one way, 0.011%: half a one-cent tick, since its issuer prints its 30-day median spread as 0.02%. In and out costs twice that. Owning $10,000 for a year costs about $82 all in, against $39 for the fee alone.

How do I place a limit order for JPIE?

Set the limit at the midpoint + 1¢ to buy, or the midpoint − 1¢ to sell, in your broker’s quote. At the Nov 12 close of $44.86, that’s $44.87 to buy and $44.85 to sell.
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →JPIE fund page→
Sources and dates
SpreadJPMorgan (fund page), 30-day median · to Nov 11, 2026
Premium to NAVETFIQ, close against the issuer’s NAV · Sep 11, 2026 to Nov 12, 2026
DealersForm N-CEN · the year to Feb 28, 2026
IQ Liquidity ScoreETFIQ · Nov 12, 2026
Retail ordersSEC Rule 605 reports · Sep 2026
Where it tradesSEC MIDAS · Q2 2026

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.

Cite this pageCitation, APA and Markdown

ETFIQ, JPIE trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/jpie/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.