# SPCF Bid-Ask Spread, Liquidity and NAV Premium

> As of Oct 22, 2026, SPCF’s median bid-ask spread over 30 days was 0.06%, and its IQ Liquidity Score is 84, Liquid. No fund is recommended.

Data as of Oct 22, 2026. Rebuilt every trading night.

As of Oct 22, 2026. Rebuilt every trading night.

## SPCF bid-ask spread and liquidity

As of Oct 22, 2026, SPCF’s median bid-ask spread over 30 days was 0.06%, and its IQ Liquidity Score is 84, Liquid.

### IQ Liquidity Score

84 of 100, Liquid, 73rd percentile of 107 leverage ETFs, 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

Liquid: trades at a typical spread of 0.06%, and its holdings can absorb $627m a day.

Flags: Small but liquid.

Cost to trade, 76.1 0.06% median spread, 30 days to Oct 22, 2026 Capacity, 93.2 Holdings can absorb $627m a day, Oct 22, 2026 Price fidelity, 82.0 95% of days within ±0.40% of NAV, 90 days to Oct 22, 2026 Primary market Not measured: it first traded on 2026-06-15, and no N-CEN ETF row for series S000103522 is in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: 1 of the 10 worst days and 89 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2)

### Cost for your order

| Order | Dollars | Percent | Basis |
| --- | --- | --- | --- |
| $1,000 | $0.30 | 0.03% | spread |
| $10,000 | $3.00 | 0.03% | spread |
| $100,000 | $149 | 0.15% | estimate |
| $1,000,000 | $4,074 | 0.41% | estimate |

### Full cost to own

At $10,000: 1.12% ($112) over 1 year, and 4.92% ($492) over 5 years; the fee alone is 0.95% ($95) a year. Fee, plus the round-trip spread once, plus the median premium paid at entry.

Against TBT (fee 0.93%): SPCF costs less to own for about 2.3 years; after that TBT’s lower fee makes it the cheaper fund.

### Premium or discount to NAV

- Latest close, Oct 22, 2026: +0.29%

- 95% of days within: ±0.40%

- Days more than 1% from NAV: 1 of 90

- Widest: −1.20%, Jun 26, 2026

Close against the NAV its issuer struck the same day, 90 days from Jun 15, 2026 to Oct 22, 2026. Source: ETFIQ from the issuer’s NAV and closing price.

### Capacity

Its holdings can absorb $627m a day, measured on the trading volume of SPCX, the asset its multiple is on, divided by its multiple of 2, as of Oct 22, 2026. The holding that sets the limit is SPCX (SPCX).

### How to trade SPCF

Order type Limit: midpoint + 1¢ to buy, midpoint − 1¢ to sell. At the Oct 22 close of $14.78, that’s $14.79 to buy and $14.77 to sell. 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 Up to $6m is 1% of what its holdings can absorb in a day, for a buy or a sell. Watch The premium. On 95% of days it is within ±0.40%; 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

Is SPCF liquid? SPCF’s IQ Liquidity Score is 84 of 100, Liquid, the 73rd percentile of 107 leverage ETFs, as of Oct 22, 2026. Its holdings can absorb $627m a day. What is SPCF’s bid-ask spread? 0.06% of the midpoint, the median over the 30 days to Oct 22, 2026, as its issuer states it. Half of it is about 1¢ a share at the Oct 22 close. Does SPCF trade at a premium or discount to NAV? It closed +0.29% from its NAV on Oct 22, 2026. On 95% of the 90 days to then it was within ±0.40%, and it closed more than 1% from NAV on 1 of them. Who is the LMM for SPCF? SPCF’s lead market maker (LMM) on NYSE Arca is Susquehanna Securities, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. What does it cost to trade $10,000 of SPCF? About $3.00 one way, 0.03%: half its 30-day median spread. In and out costs twice that. Owning $10,000 for a year costs about $112 all in, against $95 for the fee alone. How do I place a limit order for SPCF? Set the limit at the midpoint + 1¢ to buy, or the midpoint − 1¢ to sell, in your broker’s quote. At the Oct 22 close of $14.78, that’s $14.79 to buy and $14.77 to sell.

### Sources and dates

- Spread: ProShares (fund page), 30 days to Oct 22, 2026 ( the issuer’s page ).

- Premium: ETFIQ, close against the issuer’s NAV, Jun 15, 2026 to Oct 22, 2026.

- Capacity: ETFIQ, from each holding’s 20-day median dollar volume, to Oct 22, 2026.

- Score: ETFIQ, Oct 22, 2026. The method is at /methodology/liquidity.

### 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

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, SPCF trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/spcf/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/spcf/trading/