# VNM Bid-Ask Spread, Liquidity and NAV Premium

> As of Oct 22, 2026, VNM closed −0.76% from its NAV, and on 95% of the 14 days to then it was within ±1.19%. No fund is recommended.

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

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

## VNM bid-ask spread and liquidity

As of Oct 22, 2026, VNM closed −0.76% from its NAV, and on 95% of the 14 days to then it was within ±1.19%.

### IQ Liquidity Score

Not scored, 1 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

Flags: One dealer.

Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: 0.0% of its long weight could be measured; the largest part not measured is unresolved Price fidelity Not measured: 14 days of closing premium are held, under the 20 needed Primary market, 50.0 3 active dealers of 39; largest 90% of creations and redemptions, N-CEN to Dec 31, 2025 Bad-day behaviour Not measured: 0 of the 10 worst days and 14 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2)

### Premium or discount to NAV

- Latest close, Oct 22, 2026: −0.76%

- 95% of days within: ±1.19%

- Days more than 1% from NAV: 1 of 14

- Widest: −1.19%, Oct 8, 2026

Close against the NAV its issuer struck the same day, 14 days from Oct 2, 2026 to Oct 22, 2026. Source: ETFIQ from the issuer’s NAV and closing price. Its holdings trade on markets that close before New York, so its closing premium carries the move since then.

### Capacity

Not measured: 0.0% of its long weight could be measured; the largest part not measured is unresolved.

### Dealers

3 active of 39 authorized participants; the largest did 90% 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: J.P. Morgan Securities LLC (90.3%), UBS Securities LLC (6.8%), Macquarie Capital (USA) Inc. (2.9%). 36 more were listed and created or redeemed nothing.

### How to trade VNM

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 ±1.19%; 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 VNM trade at a premium or discount to NAV? It closed −0.76% from its NAV on Oct 22, 2026. On 95% of the 14 days to then it was within ±1.19%, and it closed more than 1% from NAV on 1 of them. Who is the AP for VNM? VNM’s latest Form N-CEN, for the period ending Dec 31, 2025, lists 39 authorized participants (APs), and 3 created or redeemed shares. The largest were J.P. Morgan Securities LLC (90.3%), UBS Securities LLC (6.8%), Macquarie Capital (USA) Inc. (2.9%) of the dollars its APs created and redeemed. Who is the LMM for VNM? VNM’s lead market maker (LMM) on Cboe BZX is Virtu Americas LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026.

### Sources and dates

- Premium: ETFIQ, close against the issuer’s NAV, Oct 2, 2026 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

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