{"url":"https://etfiq.com/funds/pziv/trading/","section":"funds","title":"PZIV Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"PZIV trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Nov 4, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/pziv/trading/#data","name":"PZIV trading costs and liquidity","description":"PZIV 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/pziv/trading/","dateModified":"2026-11-04","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":"InvestmentFund","@id":"https://etfiq.com/funds/pziv#fund","name":"Pzena International Value ETF","alternateName":"PZIV","url":"https://etfiq.com/funds/pziv","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"PZIV"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/pziv#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"PZIV","item":"https://etfiq.com/funds/pziv"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/pziv/trading/"}]},{"@type":"WebPage","name":"PZIV Bid-Ask Spread, Liquidity and NAV Premium","description":"PZIV 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/pziv/trading/","dateModified":"2026-11-04","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2666,"truncated":false,"content":"ETFIQ / PZIV / Trading \n \n As of Nov 4, 2026. Rebuilt every trading night.\n PZIV bid-ask spread and liquidity\n As of Nov 4, 2026, PZIV is not scored: ETFIQ reads 0 of its 6 trading measures.\n IQ Liquidity Score\n Not scored, 0 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 Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: 41.1% of its long weight could be measured; the largest part not measured is foreign Price fidelity Not measured: no closing premium is held for this fund Primary market Not measured: it first traded on 2026-04-01, and no N-CEN ETF row for series S000102225 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) \n Capacity\n Not measured: 41.1% of its long weight could be measured; the largest part not measured is foreign.\n How to trade PZIV\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. Where it trades\n In Q2 2026, odd lots were 5.9% of PZIV\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 Sources and dates\n Where it trades: SEC MIDAS, Q2 2026.\n Where to next\n PZIV 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 PZIV 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, PZIV trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/pziv/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, PZIV trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/pziv/trading/ APA ETFIQ. (Nov 4, 2026). PZIV trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/pziv/trading/ Markdown [PZIV trading: cost, capacity, premium and dealers (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/pziv/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, PZIV trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/pziv/trading/"}