{"url":"https://etfiq.com/funds/nixt/trading/","section":"funds","title":"NIXT Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"NIXT trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Oct 16, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/nixt/trading/#data","name":"NIXT trading costs and liquidity","description":"NIXT trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/nixt/trading/","dateModified":"2026-10-16","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":"Who is the AP for NIXT?","acceptedAnswer":{"@type":"Answer","text":"NIXT\u2019s latest Form N-CEN, for the period ending Jun 30, 2026, lists 2 authorized participants (APs), and 2 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (94.4%), Merrill Lynch Professional Clearing Corp. (5.6%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for NIXT?","acceptedAnswer":{"@type":"Answer","text":"NIXT\u2019s lead market maker (LMM) on Nasdaq is GTS Securities LLC. Lead market maker per Nasdaq, as of Oct 23, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/nixt#fund","name":"Research Affiliates Deletions ETF","alternateName":"NIXT","url":"https://etfiq.com/funds/nixt","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"NIXT"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/nixt#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"NIXT","item":"https://etfiq.com/funds/nixt"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/nixt/trading/"}]},{"@type":"WebPage","name":"NIXT Bid-Ask Spread, Liquidity and NAV Premium","description":"NIXT trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/nixt/trading/","dateModified":"2026-10-16","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3535,"truncated":false,"content":"ETFIQ / NIXT / Trading \n \n As of Oct 16, 2026. Rebuilt every trading night.\n NIXT bid-ask spread and liquidity\n IQ Liquidity Score\n Not scored, 2 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 Flags: One dealer.\n Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity, 67.0 Holdings can absorb $102m a day, Oct 16, 2026 Price fidelity Not measured: no closing premium is held for this fund Primary market, 30.0 2 active dealers of 2; largest 94% of creations and redemptions, N-CEN to Jun 30, 2026 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 Capacity\n Its holdings can absorb $102m a day, measured on its own holdings, as of Oct 16, 2026. The holding that sets the limit is Xerox Holdings Corp (XRX), 0.64% of the fund.\n Dealers\n 2 active of 2 authorized participants; the largest did 94% of creations and redemptions, in the year to Jun 30, 2026 (Form N-CEN filed Sep 11, 2026).\n The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (94.4%), Merrill Lynch Professional Clearing Corp. (5.6%).\n How to trade NIXT\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. Size Up to $1m is 1% of what its holdings can absorb in a day, for a buy or a sell. Coming with trade data\n Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n Who is the AP for NIXT? NIXT\u2019s latest Form N-CEN, for the period ending Jun 30, 2026, lists 2 authorized participants (APs), and 2 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (94.4%), Merrill Lynch Professional Clearing Corp. (5.6%) of the dollars its APs created and redeemed. Who is the LMM for NIXT? NIXT\u2019s lead market maker (LMM) on Nasdaq is GTS Securities LLC. Lead market maker per Nasdaq, as of Oct 23, 2026. Sources and dates\n Capacity: ETFIQ, from each holding\u2019s 20-day median dollar volume, to Oct 16, 2026.\n Dealers: Form N-CEN, the year to Jun 30, 2026, accession 0001193125-26-388859.\n Where to next\n NIXT 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 NIXT 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, NIXT trading: cost, capacity, premium and dealers, data as of Oct 16, 2026. https://etfiq.com/funds/nixt/trading/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, NIXT trading: cost, capacity, premium and dealers, data as of Oct 16, 2026. https://etfiq.com/funds/nixt/trading/ APA ETFIQ. (Oct 16, 2026). NIXT trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/nixt/trading/ Markdown [NIXT trading: cost, capacity, premium and dealers (ETFIQ, Oct 16, 2026)](https://etfiq.com/funds/nixt/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":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, NIXT trading: cost, capacity, premium and dealers, data as of Oct 16, 2026. https://etfiq.com/funds/nixt/trading/"}