# NBIZ Bid-Ask Spread, Liquidity and NAV Premium

> NBIZ trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.

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

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

## NBIZ bid-ask spread and liquidity

### IQ Liquidity Score

Not scored, 1 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, 75.1 Holdings can absorb $179m a day, Oct 22, 2026 Price fidelity Not measured: no closing premium is held for this fund Primary market Not measured: it first traded on 2026-01-22, and no N-CEN ETF row for series S000100816 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

Its holdings can absorb $179m a day, measured on the trading volume of NBIS, the asset its multiple is on, divided by its multiple of 2, as of Oct 22, 2026. The holding that sets the limit is NBIS (NBIS).

### How to trade NBIZ

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. Size Up to $2m is 1% of what its holdings can absorb in a day, for a buy or a sell.

### 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

Who is the LMM for NBIZ? NBIZ’s lead market maker (LMM) on Cboe BZX is Old Mission Capital LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026.

### Sources and dates

- Capacity: ETFIQ, from each holding’s 20-day median dollar volume, to Oct 22, 2026.

### 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, NBIZ trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/nbiz/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/nbiz/trading/