XLSR bid-ask spread and liquidity
As of Nov 3, 2026, XLSR closed 0.00% from its NAV, and on 95% of the 251 days to then it was within ±0.08%.
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askIQ about XLSR bid-ask spread and liquidity
IQ Liquidity Score
· 4 of 6 measured · Nov 4, 2026How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →
Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →
Above zero: a premium. Below: a discount.
Its holdings trade on markets that close before New York, so its closing premium carries the move since then.
XLSR’s holdings can absorb $639m a day, measured on its own holdings, as of Nov 4, 2026. A $1m order is 0.16% of a day’s capacity.
Who makes the market
Authorized participants · N-CEN, the year to Jun 30, 20267 of 40 authorized participants created or redeemed XLSR shares in the year to Jun 30, 2026. From the fund’s Form N-CEN, filed Sep 11, 2026.
APs create and redeem shares. Every AP →
Active APs, largest first, by share of dollars created and redeemed: Merrill Lynch Professional Clearing Corp. (54.9%), Morgan Stanley & Co. LLC (26.9%), Jane Street Capital, LLC (7.5%), Virtu Americas LLC (7.5%), Citadel Securities LLC (1.8%), Goldman Sachs & Co. LLC (1.1%), HRT Financial LP (0.2%). 33 more were listed and created or redeemed nothing.
$237m net created in 48 weeks and $86m net redeemed in 3, over the 52 weeks from Nov 10, 2025 to Nov 3, 2026, from the change in its shares outstanding.
What retail orders paid
One way on $10,000, Sep 2026In Sep 2026, retail market orders in XLSR paid $0.67 one way on $10,000, against $3.02 at the quote.
90% of shares filled better than the quote.
Where it trades
Q2 2026, 62 trading daysIn Q2 2026, odd lots were 12.7% of XLSR’s exchange volume.
Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.
How to place the order
To buy or to sell, up to $100,000- When
- Its holdings trade on markets that close before New York, so its price can drift from their value later in the day.
- Size
- Up to $6.4m is 1% of what its holdings can absorb in a day, for a buy or a sell.
- Watch
- The premium to NAV, charted above: a buyer pays more, and a seller gets less, when it is wide.
Median spread by half hour, 30 days.
Volume bought at the ask against volume sold at the bid.
Trades priced in fractions of a cent, a sign of retail orders.
Trades above $500k: how many, and their share of volume.
Share of the day’s volume at the close.
Questions people ask
Does XLSR trade at a premium or discount to NAV?
Who is the AP for XLSR?
Who is the LMM for XLSR?
The score measures trading conditions, not the fund. ETFIQ makes no recommendations.
Cite this pageCitation, APA and Markdown
ETFIQ, XLSR trading: cost, capacity, premium and dealers, data as of Nov 4, 2026. https://etfiq.com/funds/xlsr/trading/
ETFIQ. (Nov 4, 2026). XLSR trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/xlsr/trading/
[XLSR trading: cost, capacity, premium and dealers (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/xlsr/trading/)
The score measures trading conditions, not the fund. ETFIQ makes no recommendations.