# KPO Bid-Ask Spread, Liquidity and NAV Premium

> KPO 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 12, 2026. Rebuilt every trading night.

As of Nov 12, 2026. Rebuilt every trading night.

## KPO bid-ask spread and liquidity

As of Nov 12, 2026, KPO is too new to score: ETFIQ reads 0 of its 6 trading measures.

### IQ Liquidity Score

Too new to score, 0 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 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 2026-08-28, and no N-CEN ETF row for series S000108086 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)

### Capacity

Not measured: no book of its holdings is read.

### How to trade KPO

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.

### Retail order activity

KPO ranked 2163rd of 4,090 ETFs by retail order activity in Sep 2026, an ETFIQ estimate. It drew 0.0010% of the market-order dollars in 4 retail brokers’ reports. Retail activity ranking

### Coming with trade data

Spread through the day, buyers against sellers, large trades and the closing auction’s share, each once ETFIQ has trade and quote data.

### Questions people ask

Who is the LMM for KPO? KPO’s lead market maker (LMM) on Cboe BZX is Wolverine Trading, LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026.

### Sources and dates

- 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’s request, so its orders are not counted.

### 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, KPO trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/kpo/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/kpo/trading/