# SLX Bid-Ask Spread, Liquidity and NAV Premium > As of Oct 22, 2026, SLX closed −0.04% from its NAV, and on 95% of the 250 days to then it was within ±0.43%. No fund is recommended. Data as of Oct 22, 2026. Rebuilt every trading night. As of Oct 22, 2026. Rebuilt every trading night. ## SLX bid-ask spread and liquidity As of Oct 22, 2026, SLX closed −0.04% from its NAV, and on 95% of the 250 days to then it was within ±0.43%. ### IQ Liquidity Score Not scored, 3 of 6 measured. 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 Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Holdings can absorb up to $3,819 a day; part of the book has no volume figure Price fidelity, 75.5 95% of days within ±0.43% of NAV, 250 days to Oct 22, 2026 Primary market, 85.0 8 active dealers of 39; largest 25% of creations and redemptions, N-CEN to Dec 31, 2025 Bad-day behaviour, 60.8 Premium 1.7216× normal on the 10 worst S&P 500 days, to Oct 22, 2026 Depth Not measured: needs trade and quote data (Phase 2) ### Premium or discount to NAV - Latest close, Oct 22, 2026: −0.04% - 95% of days within: ±0.43% - Days more than 1% from NAV: 0 of 250 - Widest: −0.88%, Jun 26, 2026 Close against the NAV its issuer struck the same day, 250 days from Oct 23, 2025 to Oct 22, 2026. Source: ETFIQ from the issuer’s NAV and closing price. ### Capacity Its holdings can absorb up to $3,819 a day, measured on its own holdings, as of Oct 22, 2026. The holding that sets the limit is Eregli Demir Ve Celik Fabrikalari Tas (ERELY), 1.03% of the fund. ### Dealers 8 active of 39 authorized participants; the largest did 25% of creations and redemptions, in the year to Dec 31, 2025 (Form N-CEN filed Mar 13, 2026). The active authorized participants, largest first, by share of the dollars created and redeemed: Virtu Americas LLC (25.3%), Citadel Securities LLC (23.9%), Jane Street Capital, LLC (20.2%), Merrill Lynch Professional Clearing Corp. (14.8%), Goldman Sachs & Co. LLC (8.5%), UBS Securities LLC (2.6%), BNP Paribas Prime Brokerage, Inc. (2.6%), Jefferies LLC (2.2%). 31 more were listed and created or redeemed nothing. ### How to trade SLX When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund’s own day once it has trade data. Size Part of its book has no volume figure, so the room for a large order is an upper bound. Watch The premium. On 95% of days it is within ±0.43%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. ### Coming with trade data Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction’s share, each once ETFIQ has trade and quote data. ### Questions people ask Does SLX trade at a premium or discount to NAV? It closed −0.04% from its NAV on Oct 22, 2026. On 95% of the 250 days to then it was within ±0.43%, and it closed more than 1% from NAV on 0 of them. Who is the AP for SLX? SLX’s latest Form N-CEN, for the period ending Dec 31, 2025, lists 39 authorized participants (APs), and 8 created or redeemed shares. The largest were Virtu Americas LLC (25.3%), Citadel Securities LLC (23.9%), Jane Street Capital, LLC (20.2%) of the dollars its APs created and redeemed. Who is the LMM for SLX? SLX’s lead market maker (LMM) on NYSE Arca is Virtu Americas LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. ### Sources and dates - Premium: ETFIQ, close against the issuer’s NAV, Oct 23, 2025 to Oct 22, 2026. - Capacity: ETFIQ, from each holding’s 20-day median dollar volume, to Oct 22, 2026. - Dealers: Form N-CEN, the year to Dec 31, 2025, accession 0001410368-26-024760. ### Where to next The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, SLX trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/slx/trading/ Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms. HTML: https://etfiq.com/funds/slx/trading/