# VTV Bid-Ask Spread, Liquidity and NAV Premium > As of Oct 22, 2026, VTV closed 0.00% from its NAV, and on 95% of the 6 days to then it was within ±0.04%. No fund is recommended. Data as of Oct 22, 2026. Rebuilt every trading night. As of Oct 22, 2026. Rebuilt every trading night. ## VTV bid-ask spread and liquidity As of Oct 22, 2026, VTV closed 0.00% from its NAV, and on 95% of the 6 days to then it was within ±0.04%. ### IQ Liquidity Score Not scored, 2 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 Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity, 100.0 Holdings can absorb $2.4bn a day, Oct 22, 2026 Price fidelity Not measured: 6 days of closing premium are held, under the 20 needed Primary market, 100.0 13 active dealers of 35; largest 40% of creations and redemptions, N-CEN to Dec 31, 2025 Bad-day behaviour Not measured: 0 of the 10 worst days and 6 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: 0.00% - 95% of days within: ±0.04% - Days more than 1% from NAV: 0 of 6 - Widest: +0.04%, Oct 20, 2026 Close against the NAV its issuer struck the same day, 6 days from Sep 11, 2026 to Oct 22, 2026. Source: ETFIQ from the issuer’s NAV and closing price. ### Capacity Its holdings can absorb $2.4bn a day, measured on its own holdings, as of Oct 22, 2026. The holding that sets the limit is Berkshire Hathaway Inc (BRK-A), 0.55% of the fund. ### Dealers 13 active of 35 authorized participants; the largest did 40% of creations and redemptions, in the year to Dec 31, 2025 (Form N-CEN filed Mar 12, 2026). The active authorized participants, largest first, by share of the dollars created and redeemed: Merrill Lynch Professional Clearing Corp. (39.9%), Citadel Securities LLC (19.8%), Jane Street Capital, LLC (12.2%), Morgan Stanley & Co. LLC (9.9%), Virtu Americas LLC (5.3%), Goldman Sachs & Co. LLC (3.8%), Citigroup Global Markets Inc. (2.9%), J.P. Morgan Securities LLC (1.8%), BNP Paribas Securities Corp. (1.7%), RBC Capital Markets, LLC (1.2%), ABN AMRO Clearing USA LLC (0.7%), Cowen and Company, LLC (0.6%), BNY Mellon Capital Markets, LLC (0.4%). 22 more were listed and created or redeemed nothing. ### How to trade VTV 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 $24m 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 ±0.04%; 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 VTV trade at a premium or discount to NAV? It closed 0.00% from its NAV on Oct 22, 2026. On 95% of the 6 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 VTV? VTV’s latest Form N-CEN, for the period ending Dec 31, 2025, lists 35 authorized participants (APs), and 13 created or redeemed shares. The largest were Merrill Lynch Professional Clearing Corp. (39.9%), Citadel Securities LLC (19.8%), Jane Street Capital, LLC (12.2%) of the dollars its APs created and redeemed. Who is the LMM for VTV? VTV’s lead market maker (LMM) on NYSE Arca is Virtu Americas LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. ### Sources and dates - Premium: ETFIQ, close against the issuer’s NAV, Sep 11, 2026 to Oct 22, 2026. - Capacity: ETFIQ, from each holding’s 20-day median dollar volume, to Oct 22, 2026. - Dealers: Form N-CEN, the year to Dec 31, 2025, accession 0000036405-26-000103. ### 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 --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, VTV trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/vtv/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/vtv/trading/