{"url":"https://etfiq.com/funds/nres/trading/","section":"funds","title":"NRES Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 2, 2026, NRES closed \u22120.59% from its NAV, and on 95% of the 2 days to then it was within \u00b10.59%. No fund is recommended.","as_of":"Nov 2, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/nres/trading/#data","name":"NRES trading costs and liquidity","description":"As of Nov 2, 2026, NRES closed \u22120.59% from its NAV, and on 95% of the 2 days to then it was within \u00b10.59%. No fund is recommended.","url":"https://etfiq.com/funds/nres/trading/","dateModified":"2026-11-02","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":"Does NRES trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed \u22120.59% from its NAV on Nov 2, 2026. On 95% of the 2 days to then it was within \u00b10.59%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"Who is the AP for NRES?","acceptedAnswer":{"@type":"Answer","text":"NRES\u2019s latest Form N-CEN, for the period ending Aug 31, 2025, lists 23 authorized participants (APs), and 1 created or redeemed shares. The only active AP was J.P. Morgan Securities LLC."}},{"@type":"Question","name":"Who is the LMM for NRES?","acceptedAnswer":{"@type":"Answer","text":"NRES is on none of the lead market maker (LMM) lists ETFIQ reads, from NYSE Arca, Cboe BZX and Nasdaq. Each list covers only that exchange\u2019s own program, so this does not mean it has no LMM."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/nres#fund","name":"Xtrackers RREEF Global Natural Resources ETF","alternateName":"NRES","url":"https://etfiq.com/funds/nres","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"NRES"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/nres#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"NRES","item":"https://etfiq.com/funds/nres"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/nres/trading/"}]},{"@type":"WebPage","name":"NRES Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 2, 2026, NRES closed \u22120.59% from its NAV, and on 95% of the 2 days to then it was within \u00b10.59%. No fund is recommended.","url":"https://etfiq.com/funds/nres/trading/","dateModified":"2026-11-02","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4214,"truncated":false,"content":"ETFIQ / NRES / Trading \n \n As of Nov 2, 2026. Rebuilt every trading night.\n NRES bid-ask spread and liquidity\n As of Nov 2, 2026, NRES closed \u22120.59% from its NAV, and on 95% of the 2 days to then it was within \u00b10.59%.\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 Flags: One dealer.\n 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: 2 days of closing premium are held, under the 20 needed Primary market, 25.0 1 active dealer of 23; largest 100% of creations and redemptions, N-CEN to Aug 31, 2025 Bad-day behaviour Not measured: 1 of the 10 worst days and 1 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Premium or discount to NAV\n Latest close, Nov 2, 2026: \u22120.59%\n 95% of days within: \u00b10.59%\n Days more than 1% from NAV: 0 of 2\n Widest: \u22120.59%, Nov 2, 2026\n Close against the NAV its issuer struck the same day, 2 days from Oct 30, 2026 to Nov 2, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price.\n Capacity\n Not measured: no book of its holdings is read.\n Dealers\n 1 active of 23 authorized participants; the largest did 100% of creations and redemptions, in the year to Aug 31, 2025 (Form N-CEN filed Nov 12, 2025).\n The active authorized participants, largest first, by share of the dollars created and redeemed: J.P. Morgan Securities LLC (100.0%). 22 more were listed and created or redeemed nothing.\n How to trade NRES\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. Watch The premium. On 95% of days it is within \u00b10.59%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. Where it trades\n In Q2 2026, odd lots were 19.5% of NRES\u2019s exchange volume.\n 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 Does NRES trade at a premium or discount to NAV? It closed \u22120.59% from its NAV on Nov 2, 2026. On 95% of the 2 days to then it was within \u00b10.59%, and it closed more than 1% from NAV on 0 of them. Who is the AP for NRES? NRES\u2019s latest Form N-CEN, for the period ending Aug 31, 2025, lists 23 authorized participants (APs), and 1 created or redeemed shares. The only active AP was J.P. Morgan Securities LLC. Who is the LMM for NRES? NRES is on none of the lead market maker (LMM) lists ETFIQ reads, from NYSE Arca, Cboe BZX and Nasdaq. Each list covers only that exchange\u2019s own program, so this does not mean it has no LMM. Sources and dates\n Premium: ETFIQ, close against the issuer\u2019s NAV, Oct 30, 2026 to Nov 2, 2026.\n Dealers: Form N-CEN, the year to Aug 31, 2025, accession 0000940400-25-005824.\n Where it trades: SEC MIDAS, Q2 2026.\n Where to next\n NRES 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 NRES 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, NRES trading: cost, capacity, premium and dealers, data as of Nov 2, 2026. https://etfiq.com/funds/nres/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, NRES trading: cost, capacity, premium and dealers, data as of Nov 2, 2026. https://etfiq.com/funds/nres/trading/ APA ETFIQ. (Nov 2, 2026). NRES trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/nres/trading/ Markdown [NRES trading: cost, capacity, premium and dealers (ETFIQ, Nov 2, 2026)](https://etfiq.com/funds/nres/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, NRES trading: cost, capacity, premium and dealers, data as of Nov 2, 2026. https://etfiq.com/funds/nres/trading/"}