PTBD bid-ask spread and liquidity

Pacer Trendpilot US Bond ETF
BondsPacer$85m net assets0.60% fee
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As of Oct 2, 2026, PTBD closed +0.33% from its NAV, and on 95% of the 2 days to then it was within ±0.33%.

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Ask IQ about PTBD bid-ask spread and liquidity

Answers cite the figures on this page.

OverviewHoldingsDividendsTradingFlowsCompare

IQ Liquidity Score

1 of 6 measured · Oct 2, 2026
·
Not scored
0 · Hard to trade100 · Trades like a giant

The IQ Liquidity Score: 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 trades, not whether to own it. Method →

One dealer
Cost to trade
Not measured · the issuer's 30-day median spread is not read for this fund
·
Capacity
Not measured · its holdings are bonds, which have no volume source here
·
Price fidelity
Not measured · 2 days of closing premium are held, under the 20 needed
·
Primary market
4 active dealers of 4; largest 83% of creations and redemptions, N-CEN to Apr 30, 2026
50.0
Bad-day behaviour
Not measured · 0 of the 10 worst days and 2 other days are held, under the 5 and 60 needed
·
Depth
Not measured · needs trade and quote data (Phase 2)
·

Premium or discount to value

Daily, 2 days to Oct 2, 2026 · the ±1% band marked
PTBD premium or discount to NAV, 2 days+1%0−1%Sep 11, 2026Oct 2, 2026
Latest close, Oct 2
+0.33%
95% of days within
±0.33%
Days more than 1% from NAV
0 of 2
Widest
+0.33%, Oct 2, 2026

Close against the NAV its issuer struck the same day, from the issuer. Source: ETFIQ.

Capacity

What the holdings can absorb a day

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

Dealers

Authorized participants · N-CEN, the year to Apr 30, 2026
Active dealers
4
of 4 authorized
Largest
83%
of creations and redemptions
One dealer
No
4 active

4 of 4 authorized participants created or redeemed PTBD shares in the year to Apr 30, 2026. From the fund’s Form N-CEN, filed Jul 14, 2026.

The active authorized participants, largest first, by share of the dollars created and redeemed: Jane Street Capital, LLC (83.4%), Goldman Sachs & Co. LLC (8.4%), J.P. Morgan Securities LLC (5.4%), Merrill Lynch, Pierce, Fenner and Smith Incorporated (2.7%).

How to trade PTBD

To buy or to sell, up to $100,000
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Watch
The premium. On 95% of days it is within ±0.33%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth.
Phase 2 · drawn now, filled when trade data arrives
Spread through the dayComing with trade data

Median spread by half hour, 30 days.

Buyers against sellersComing with trade data

Share of volume at the ask against at the bid.

Retail flow, estimatedComing with trade data

Sub-penny prints as a share of volume.

Large tradesComing with trade data

Prints above $500k, count and share.

Closing auctionComing with trade data

Share of the day’s volume at the close.

Questions people ask

Does PTBD trade at a premium or discount to NAV?

It closed +0.33% from its NAV on Oct 2, 2026. On 95% of the 2 days to then it was within ±0.33%, and it closed more than 1% from NAV on 0 of them.

Who is the AP for PTBD?

PTBD’s latest Form N-CEN, for the period ending Apr 30, 2026, lists 4 authorized participants (APs), and 4 created or redeemed shares. The largest were Jane Street Capital, LLC (83.4%), Goldman Sachs & Co. LLC (8.4%), J.P. Morgan Securities LLC (5.4%) of the dollars its APs created and redeemed.

Who is the LMM for PTBD?

PTBD’s lead market maker (LMM) on NYSE Arca is Jane Street Capital, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026.
Sources and dates
Premium to NAVETFIQ, close against the issuer’s NAV · Sep 11, 2026 to Oct 2, 2026
DealersForm N-CEN · the year to Apr 30, 2026
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 →PTBD fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, PTBD trading: cost, capacity, premium and dealers, data as of Oct 2, 2026. https://etfiq.com/funds/ptbd/trading/

Open data →

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