{"url":"https://etfiq.com/funds/xbox/trading/","section":"funds","title":"XBOX Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Nov 4, 2026, XBOX closed \u22120.05% from its NAV, and on 95% of the 24 days to then it was within \u00b10.11%. No fund is recommended.","as_of":"Nov 4, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/xbox/trading/#data","name":"XBOX trading costs and liquidity","description":"As of Nov 4, 2026, XBOX closed \u22120.05% from its NAV, and on 95% of the 24 days to then it was within \u00b10.11%. No fund is recommended.","url":"https://etfiq.com/funds/xbox/trading/","dateModified":"2026-11-04","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":"Does XBOX trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed \u22120.05% from its NAV on Nov 4, 2026. On 95% of the 24 days to then it was within \u00b10.11%, and it closed more than 1% from NAV on 0 of them."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/xbox#fund","name":"Roundhill Ultra Short Duration No Dividend Target ETF","alternateName":"XBOX","url":"https://etfiq.com/funds/xbox","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"XBOX"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/xbox#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"XBOX","item":"https://etfiq.com/funds/xbox"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/xbox/trading/"}]},{"@type":"WebPage","name":"XBOX Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Nov 4, 2026, XBOX closed \u22120.05% from its NAV, and on 95% of the 24 days to then it was within \u00b10.11%. No fund is recommended.","url":"https://etfiq.com/funds/xbox/trading/","dateModified":"2026-11-04","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4725,"truncated":false,"content":"ETFIQ / XBOX / Trading \n \n As of Nov 4, 2026. Rebuilt every trading night.\n XBOX bid-ask spread and liquidity\n As of Nov 4, 2026, XBOX closed \u22120.05% from its NAV, and on 95% of the 24 days to then it was within \u00b10.11%.\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 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, 100.0 95% of days within \u00b10.11% of NAV, 24 days to Nov 4, 2026 Primary market Not measured: it first traded on 2026-03-18, and no N-CEN ETF row for series S000099970 is in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: 1 of the 10 worst days and 23 other days are held, under the 5 and 60 needed Depth Not measured: needs trade and quote data (Phase 2) \n Premium or discount to NAV\n Latest close, Nov 4, 2026: \u22120.05%\n 95% of days within: \u00b10.11%\n Days more than 1% from NAV: 0 of 24\n Widest: \u22120.13%, Oct 22, 2026\n Close against the NAV its issuer struck the same day, 24 days from Sep 11, 2026 to Nov 4, 2026. Source: ETFIQ from the issuer\u2019s NAV and closing price.\n Capacity\n Not measured: its holdings are bonds, which have no volume source here.\n How to trade XBOX\n When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund\u2019s own day once it has trade data. Watch The premium. On 95% of days it is within \u00b10.11%; 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 XBOX paid $0.63 one way on $10,000, against $0.91 at the quote. 29% of shares filled better than the quote.\n XBOX: 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 $0.63 \n Schwab customers $1.48 \n XBOX: 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 Mar 2026 (old format) $0.00 \n Apr 2026 (old format) $2.69 \n May 2026 (old format) $1.57 \n Jun 2026 (old format) $0.00 \n Jul 2026 (old format) $1.79 \n Aug 2026 $0.38 \n Sep 2026 $0.63 \n XBOX ranked 523rd of 628 ETFs by retail order activity in Sep 2026, an ETFIQ estimate. It drew 0.0007% of the market-order dollars in 4 retail brokers\u2019 reports. Retail activity ranking \n Where it trades\n In Q2 2026, 30% of XBOX\u2019s shares traded off exchange on the median day. Odd lots, under 100 shares, were 6.3% of its exchange volume.\n Coming with trade data\n Spread through the day, buyers against sellers, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n Does XBOX trade at a premium or discount to NAV? It closed \u22120.05% from its NAV on Nov 4, 2026. On 95% of the 24 days to then it was within \u00b10.11%, and it closed more than 1% from NAV on 0 of them. Sources and dates\n Premium: ETFIQ, close against the issuer\u2019s NAV, Sep 11, 2026 to Nov 4, 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, against the fund\u2019s daily volume from Tiingo.\n Where to next\n XBOX 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 XBOX 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, XBOX trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/xbox/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, XBOX trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/xbox/trading/ APA ETFIQ. (Nov 4, 2026). XBOX trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/xbox/trading/ Markdown [XBOX trading: cost, capacity, premium and dealers (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/xbox/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, XBOX trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/xbox/trading/"}