USFR bid-ask spread and liquidity

WisdomTree Floating Rate Treasury Fund
BondsWisdomTree$17.0bn net assets0.15% fee
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As of Sep 11, 2026, USFR closed +0.04% from its NAV, and on 95% of the 1 days to then it was within ±0.04%.

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Ask IQ about USFR bid-ask spread and liquidity

Answers cite the figures on this page.

OverviewHoldingsDividendsTradingFlowsCompare

IQ Liquidity Score

1 of 6 measured · Sep 11, 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
·
Capacity
Not measured · its holdings are bonds, which have no volume source here
·
Price fidelity
Not measured · 1 days of closing premium are held, under the 20 needed
·
Primary market
5 active dealers of 20; largest 44% of creations and redemptions, N-CEN to Aug 31, 2025
85.0
Bad-day behaviour
Not measured · 0 of the 10 worst days and 1 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, 1 days to Sep 11, 2026 · the ±1% band marked
USFR premium or discount to NAV, 1 days+1%0−1%Sep 11, 2026Sep 11, 2026
Latest close, Sep 11
+0.04%
95% of days within
±0.04%
Days more than 1% from NAV
0 of 1
Widest
+0.04%, Sep 11, 2026

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

Capacity

What the holdings can absorb a day

Not measured: its holdings are bonds, which have no volume source here.

Dealers

Authorized participants · N-CEN, the year to Aug 31, 2025
Active dealers
5
of 20 authorized
Largest
44%
of creations and redemptions
One dealer
No
5 active

5 of 20 authorized participants created or redeemed USFR shares in the year to Aug 31, 2025. From the fund’s Form N-CEN, filed Nov 14, 2025.

The active authorized participants, largest first, by share of the dollars created and redeemed: BofA Securities, Inc. (44.0%), J.P. Morgan Securities LLC (29.2%), Goldman Sachs & Co. LLC (24.6%), Jane Street Capital, LLC (1.9%), RBC Capital Markets, LLC (0.2%). 15 more were listed and created or redeemed nothing.

How to trade USFR

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.
Watch
The premium. On 95% of days it is within ±0.04%; 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 USFR trade at a premium or discount to NAV?

It closed +0.04% from its NAV on Sep 11, 2026. On 95% of the 1 days to then it was within ±0.04%, and it closed more than 1% from NAV on 0 of them.

Who is the AP for USFR?

USFR’s latest Form N-CEN, for the period ending Aug 31, 2025, lists 20 authorized participants (APs), and 5 created or redeemed shares. The largest were BofA Securities, Inc. (44.0%), J.P. Morgan Securities LLC (29.2%), Goldman Sachs & Co. LLC (24.6%) of the dollars its APs created and redeemed.

Who is the LMM for USFR?

USFR’s lead market maker (LMM) on NYSE Arca is Jane Street Capital, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026.
Sources and dates
Premium to NAVETFIQ, close against the issuer’s NAV · Sep 11, 2026 to Sep 11, 2026
DealersForm N-CEN · the year to Aug 31, 2025
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 →USFR fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, USFR trading: cost, capacity, premium and dealers, data as of Sep 11, 2026. https://etfiq.com/funds/usfr/trading/

Open data →

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