{"url":"https://etfiq.com/funds/vdv/trading/","section":"funds","title":"VDV Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 3, 2026, VDV\u2019s median bid-ask spread over 30 days was 0.26%. A $10,000 order costs about $13 one way.","as_of":"Nov 3, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/vdv/trading/#data","name":"VDV trading costs and liquidity","description":"As of Nov 3, 2026, VDV\u2019s median bid-ask spread over 30 days was 0.26%. A $10,000 order costs about $13 one way.","url":"https://etfiq.com/funds/vdv/trading/","dateModified":"2026-11-03","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":"What is VDV\u2019s bid-ask spread?","acceptedAnswer":{"@type":"Answer","text":"0.26% of the midpoint, the median over the 30 days to Nov 3, 2026, as its issuer states it. Half of it is about 10\u00a2 a share at the Nov 3 close."}},{"@type":"Question","name":"Does VDV trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed +0.54% from its NAV on Nov 3, 2026. On 95% of the 3 days to then it was within \u00b10.54%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"What does it cost to trade $10,000 of VDV?","acceptedAnswer":{"@type":"Answer","text":"About $13 one way, 0.13%: half its 30-day median spread. In and out costs twice that."}},{"@type":"Question","name":"How do I place a limit order for VDV?","acceptedAnswer":{"@type":"Answer","text":"Set the limit at the midpoint + 10\u00a2 to buy, or the midpoint \u2212 10\u00a2 to sell, in your broker\u2019s quote. At the Nov 3 close of $76.27, that\u2019s $76.37 to buy and $76.17 to sell."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/vdv#fund","name":"Vanguard Developed Markets ex-US Value Index ETF","alternateName":"VDV","url":"https://etfiq.com/funds/vdv","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"VDV"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/vdv#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"VDV","item":"https://etfiq.com/funds/vdv"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/vdv/trading/"}]},{"@type":"WebPage","name":"VDV Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 3, 2026, VDV\u2019s median bid-ask spread over 30 days was 0.26%. A $10,000 order costs about $13 one way.","url":"https://etfiq.com/funds/vdv/trading/","dateModified":"2026-11-03","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":5491,"truncated":false,"content":"ETFIQ / VDV / Trading \n \n As of Nov 3, 2026. Rebuilt every trading night.\n VDV bid-ask spread and liquidity\n As of Nov 3, 2026, VDV\u2019s median bid-ask spread over 30 days was 0.26%.\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 Cost to trade, 44.3 0.26% median spread, 30 days to Nov 3, 2026 Capacity Not measured: 39.0% of its long weight could be measured; the largest part not measured is foreign Price fidelity Not measured: 3 days of closing premium are held, under the 20 needed Primary market Not measured: it first traded on 2026-04-16, and no N-CEN ETF row for series S000101720 is in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: 1 of the 10 worst days and 2 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Cost for your order\n VDV one-way cost at each order size: half its 30-day median spread to Nov 3, 2026; sizes above $10,000 add an estimate of market impact. Source: ETFIQ. Order Dollars Percent Basis \n $1,000 $1.30 0.13% spread \n $10,000 $13 0.13% spread \n Premium or discount to NAV\n Latest close, Nov 3, 2026: +0.54%\n 95% of days within: \u00b10.54%\n Days more than 1% from NAV: 0 of 3\n Widest: +0.54%, Nov 3, 2026\n Close against the NAV its issuer struck the same day, 3 days from Oct 30, 2026 to Nov 3, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price. Its holdings trade on markets that close before New York, so its closing premium carries the move since then.\n Capacity\n Not measured: 39.0% of its long weight could be measured; the largest part not measured is foreign.\n How to trade VDV\n Order type Limit: midpoint + 10\u00a2 to buy, midpoint \u2212 10\u00a2 to sell. At the Nov 3 close of $76.27, that\u2019s $76.37 to buy and $76.17 to sell. When Its holdings trade on markets that close before New York, so its price can drift from their value later in the day. Watch The premium. On 95% of days it is within \u00b10.54%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. What retail orders paid\n In Sep 2026, retail market orders in VDV paid $1.04 one way on $10,000, against $12 at the quote. 88% of shares filled better than the quote.\n VDV: what retail market orders paid one way on $10,000, Sep 2026, half the effective spread. Source: SEC Rule 605 reports; computed by ETFIQ. Orders One way on $10,000 \n All wholesalers read $1.04 \n Vanguard customers $1.26 \n Schwab customers $2.96 \n Fidelity customers $5.41 \n VDV: what retail market orders paid one way on $10,000, by month, at the wholesalers. Old format: orders of 100 to 9,999 shares, to Jul 2026. Month One way on $10,000 \n Apr 2026 (old format) $0.41 \n May 2026 (old format) \u2212$0.20 \n Jun 2026 (old format) \u2212$0.54 \n Jul 2026 (old format) $0.38 \n Aug 2026 $0.52 \n Sep 2026 $1.04 \n Where it trades\n In Q2 2026, odd lots were 18.7% of VDV\u2019s 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 What is VDV\u2019s bid-ask spread? 0.26% of the midpoint, the median over the 30 days to Nov 3, 2026, as its issuer states it. Half of it is about 10\u00a2 a share at the Nov 3 close. Does VDV trade at a premium or discount to NAV? It closed +0.54% from its NAV on Nov 3, 2026. On 95% of the 3 days to then it was within \u00b10.54%, and it closed more than 1% from NAV on 0 of them. What does it cost to trade $10,000 of VDV? About $13 one way, 0.13%: half its 30-day median spread. In and out costs twice that. How do I place a limit order for VDV? Set the limit at the midpoint + 10\u00a2 to buy, or the midpoint \u2212 10\u00a2 to sell, in your broker\u2019s quote. At the Nov 3 close of $76.27, that\u2019s $76.37 to buy and $76.17 to sell. Sources and dates\n Spread: Vanguard (fund page), 30 days to Nov 3, 2026 ( the issuer\u2019s page ).\n Premium: ETFIQ, close against the issuer\u2019s NAV, Oct 30, 2026 to Nov 3, 2026.\n Retail orders: SEC Rule 605 reports, Sep 2026, from Charles Schwab, G1 Execution Services, Fidelity Brokerage Services, Robinhood, HRT Financial, Jane Street Capital, Vanguard. Computed by ETFIQ. Citadel Securities refused ETFIQ\u2019s request, so its orders are not counted.\n Where it trades: SEC MIDAS, Q2 2026.\n Where to next\n VDV 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 VDV 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, VDV trading: cost, capacity, premium and dealers, data as of Nov 3, 2026. https://etfiq.com/funds/vdv/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, VDV trading: cost, capacity, premium and dealers, data as of Nov 3, 2026. https://etfiq.com/funds/vdv/trading/ APA ETFIQ. (Nov 3, 2026). VDV trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/vdv/trading/ Markdown [VDV trading: cost, capacity, premium and dealers (ETFIQ, Nov 3, 2026)](https://etfiq.com/funds/vdv/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, VDV trading: cost, capacity, premium and dealers, data as of Nov 3, 2026. https://etfiq.com/funds/vdv/trading/"}