{"url":"https://etfiq.com/funds/rcge/trading/","section":"funds","title":"RCGE Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"RCGE trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Apr 10, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/rcge/trading/#data","name":"RCGE trading costs and liquidity","description":"RCGE 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/rcge/trading/","dateModified":"2026-04-10","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 RCGE?","acceptedAnswer":{"@type":"Answer","text":"RCGE\u2019s latest Form N-CEN, for the period ending Jan 31, 2026, lists 3 authorized participants (APs), and 3 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (98.0%), Virtu Americas LLC (1.0%), J.P. Morgan Securities LLC (1.0%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for RCGE?","acceptedAnswer":{"@type":"Answer","text":"RCGE 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/rcge#fund","name":"RockCreek Global Equality ETF","alternateName":"RCGE","url":"https://etfiq.com/funds/rcge","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"RCGE"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/rcge#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"RCGE","item":"https://etfiq.com/funds/rcge"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/rcge/trading/"}]},{"@type":"WebPage","name":"RCGE Bid-Ask Spread, Liquidity and NAV Premium","description":"RCGE 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/rcge/trading/","dateModified":"2026-04-10","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3777,"truncated":false,"content":"ETFIQ / RCGE / Trading \n \n As of Apr 10, 2026. Rebuilt every trading night.\n RCGE bid-ask spread and liquidity\n In the year to Jan 31, 2026, 3 of RCGE\u2019s 3 authorized participants created or redeemed shares.\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: 47.5% 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, 50.0 3 active dealers of 3; largest 98% of creations and redemptions, N-CEN to Jan 31, 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 Not measured: 47.5% of its long weight could be measured; the largest part not measured is foreign.\n Dealers\n 3 active of 3 authorized participants; the largest did 98% of creations and redemptions, in the year to Jan 31, 2026 (Form N-CEN filed Apr 10, 2026).\n The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (98.0%), Virtu Americas LLC (1.0%), J.P. Morgan Securities LLC (1.0%).\n How to trade RCGE\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, 100% of RCGE\u2019s shares traded off exchange on the median day. Odd lots, under 100 shares, were 16.4% of its 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 Who is the AP for RCGE? RCGE\u2019s latest Form N-CEN, for the period ending Jan 31, 2026, lists 3 authorized participants (APs), and 3 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (98.0%), Virtu Americas LLC (1.0%), J.P. Morgan Securities LLC (1.0%) of the dollars its APs created and redeemed. Who is the LMM for RCGE? RCGE 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 Dealers: Form N-CEN, the year to Jan 31, 2026, accession 0000894189-26-012003.\n Where it trades: SEC MIDAS, Q2 2026, against the fund\u2019s daily volume from Tiingo.\n Where to next\n RCGE 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 RCGE 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, RCGE trading: cost, capacity, premium and dealers, data as of Apr 10, 2026. https://etfiq.com/funds/rcge/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, RCGE trading: cost, capacity, premium and dealers, data as of Apr 10, 2026. https://etfiq.com/funds/rcge/trading/ APA ETFIQ. (Apr 10, 2026). RCGE trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/rcge/trading/ Markdown [RCGE trading: cost, capacity, premium and dealers (ETFIQ, Apr 10, 2026)](https://etfiq.com/funds/rcge/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, RCGE trading: cost, capacity, premium and dealers, data as of Apr 10, 2026. https://etfiq.com/funds/rcge/trading/"}