QQQS bid-ask spread and liquidity
As of Nov 3, 2026, QQQS’s median bid-ask spread over 30 days was 0.18%.
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askIQ about QQQS bid-ask spread and liquidity
IQ Liquidity Score
· 3 of 6 measured · Nov 3, 2026How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →
Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →
What a trade costs
One way, half its 30-day median spread; sizes above $10,000 are estimates| Order | Dollars | Percent | Basis |
|---|---|---|---|
| $1,000 | $0.90 | 0.09% | spread |
| $10,000 | $9.00 | 0.09% | spread |
| $100,000 | $408 | 0.41% | estimate |
| $1,000,000 | $10,944 | 1.09% | estimate |
Above zero: a premium. Below: a discount.
QQQS’s holdings can absorb $2.8m a day, measured on its own holdings, as of Nov 3, 2026. A $1m order is 35.87% of a day’s capacity.
Who makes the market
Authorized participants · N-CEN, the year to Aug 31, 20255 of 41 authorized participants created or redeemed QQQS shares in the year to Aug 31, 2025. From the fund’s Form N-CEN, filed Nov 14, 2025.
APs create and redeem shares. Every AP →
Active APs, largest first, by share of dollars created and redeemed: ABN AMRO Clearing USA LLC (33.4%), JP Morgan Securities, Inc. (30.5%), Goldman Sachs & Co. LLC (26.6%), BofA Securities, Inc. (5.0%), Virtu Americas LLC (4.5%). 36 more were listed and created or redeemed nothing.
What retail orders paid
One way on $10,000, Sep 2026In Sep 2026, retail market orders in QQQS paid $5.11 one way on $10,000, against $17 at the quote.
90% of shares filled better than the quote.
Where it trades
Q2 2026, 62 trading daysIn Q2 2026, odd lots were 14.8% of QQQS’s exchange volume.
Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.
How to place the order
To buy or to sell, up to $100,000- Order type
- Limit: midpoint + 4¢ to buy, midpoint − 4¢ to sell.At the Nov 3 close of $39.24, that’s $39.28 to buy and $39.20 to sell.
- When
- ETF spreads are usually widest in the first minutes after the open and the last before the close.
- Size
- Up to $27,882 is 1% of what its holdings can absorb in a day, for a buy or a sell.
- Watch
- The premium to NAV, charted above: a buyer pays more, and a seller gets less, when it is wide.
Median spread by half hour, 30 days.
Volume bought at the ask against volume sold at the bid.
Trades priced in fractions of a cent, a sign of retail orders.
Trades above $500k: how many, and their share of volume.
Share of the day’s volume at the close.
Questions people ask
What is QQQS’s bid-ask spread?
Does QQQS trade at a premium or discount to NAV?
Who is the AP for QQQS?
Who is the LMM for QQQS?
What does it cost to trade $10,000 of QQQS?
How do I place a limit order for QQQS?
The score measures trading conditions, not the fund. ETFIQ makes no recommendations.
Cite this pageCitation, APA and Markdown
ETFIQ, QQQS trading: cost, capacity, premium and dealers, data as of Nov 3, 2026. https://etfiq.com/funds/qqqs/trading/
ETFIQ. (Nov 3, 2026). QQQS trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/qqqs/trading/
[QQQS trading: cost, capacity, premium and dealers (ETFIQ, Nov 3, 2026)](https://etfiq.com/funds/qqqs/trading/)
The score measures trading conditions, not the fund. ETFIQ makes no recommendations.