SQLT bid-ask spread and liquidity

iShares MSCI USA Small-Cap Quality Factor ETF
StocksiShares$7m net assets0.20% fee
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As of Oct 22, 2026, SQLT closed −0.10% from its NAV, and on 95% of the 142 days to then it was within ±0.15%.

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Ask IQ about SQLT bid-ask spread and liquidity

Answers cite the figures on this page.

OverviewHoldingsDividendsTradingFlowsCompare

IQ Liquidity Score

2 of 6 measured · Oct 22, 2026
·
Not scored
0 · Hard to trade100 · Trades like a giant

The IQ Liquidity Score: 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 trades, not whether to own it. Method →

Cost to trade
Not measured · the issuer's 30-day median spread is not read for this fund
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Capacity
Holdings can absorb $242m a day, Oct 22, 2026
79.5
Price fidelity
95% of days within ±0.15% of NAV, 142 days to Oct 22, 2026
95.3
Primary market
Not measured · it first traded on 2026-04-01, and no N-CEN ETF row for series S000102024 is in the quarters read (2024q4 to 2026q3)
·
Bad-day behaviour
Not measured · 3 of the 10 worst days and 139 other days are held, under the 5 and 60 needed
·
Depth
Not measured · needs trade and quote data (Phase 2)
·

Premium or discount to value

Daily, 142 days to Oct 22, 2026 · the ±1% band marked
SQLT premium or discount to NAV, 142 days+1%0−1%Apr 1, 2026Oct 22, 2026
Latest close, Oct 22
−0.10%
95% of days within
±0.15%
Days more than 1% from NAV
0 of 142
Widest
−0.23%, Jun 29, 2026

Close against the NAV its issuer struck the same day, from the issuer. Source: ETFIQ.

Capacity

What the holdings can absorb a day, at 10% of each one’s volume
Holdings can absorb
$242m

SQLT’s holdings can absorb $242m a day, measured on its own holdings, as of Oct 22, 2026. A $1m order is 0.41% of a day’s capacity.

The holding that sets the limit: MGE ENERGY (MGEE), 0.41% of the fund, $10m a day traded, the median of 20 days to Oct 22, 2026. Capacity is the least of the holding-level ratios over the holdings making up 95% of the weight.

Creations and redemptions

By week, 30 weeks to Oct 22, 2026
Apr 1 2026Each week’s net creations (green) and redemptionsOct 22 2026

$2m net created in 2 weeks and $1m net redeemed in 1, over the 30 weeks from Apr 1, 2026 to Oct 22, 2026, from the change in its shares outstanding.

How to trade SQLT

To buy or to sell, up to $100,000
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Size
Up to $2m 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 ±0.15%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth.
Phase 2 · drawn now, filled when trade data arrives
Spread through the dayComing with trade data

Median spread by half hour, 30 days.

Buyers against sellersComing with trade data

Share of volume at the ask against at the bid.

Retail flow, estimatedComing with trade data

Sub-penny prints as a share of volume.

Large tradesComing with trade data

Prints above $500k, count and share.

Closing auctionComing with trade data

Share of the day’s volume at the close.

Questions people ask

Does SQLT trade at a premium or discount to NAV?

It closed −0.10% from its NAV on Oct 22, 2026. On 95% of the 142 days to then it was within ±0.15%, and it closed more than 1% from NAV on 0 of them.

Who is the LMM for SQLT?

SQLT’s lead market maker (LMM) on Cboe BZX is Latour Trading LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026.
Sources and dates
Premium to NAVETFIQ, close against the issuer’s NAV · Apr 1, 2026 to Oct 22, 2026
CapacityETFIQ, each holding’s 20-day median dollar volume · to Oct 22, 2026
Creations and redemptionsShares outstanding, daily, from the issuer
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →SQLT fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, SQLT trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/sqlt/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.