{"url":"https://etfiq.com/funds/zcbc/trading/","section":"funds","title":"ZCBC Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"As of Oct 12, 2026, ZCBC closed +0.13% from its NAV, and on 95% of the 5 days to then it was within \u00b10.16%. No fund is recommended.","as_of":"Oct 12, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/zcbc/trading/#data","name":"ZCBC trading costs and liquidity","description":"As of Oct 12, 2026, ZCBC closed +0.13% from its NAV, and on 95% of the 5 days to then it was within \u00b10.16%. No fund is recommended.","url":"https://etfiq.com/funds/zcbc/trading/","dateModified":"2026-10-12","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 ZCBC trade at a premium or discount to NAV?","acceptedAnswer":{"@type":"Answer","text":"It closed +0.13% from its NAV on Oct 12, 2026. On 95% of the 5 days to then it was within \u00b10.16%, and it closed more than 1% from NAV on 0 of them."}},{"@type":"Question","name":"Who is the LMM for ZCBC?","acceptedAnswer":{"@type":"Answer","text":"ZCBC\u2019s lead market maker (LMM) on NYSE Arca is Citadel Securities LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/zcbc#fund","name":"Global X Zero Coupon Bond 2032 ETF","alternateName":"ZCBC","url":"https://etfiq.com/funds/zcbc","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"ZCBC"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/zcbc#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"ZCBC","item":"https://etfiq.com/funds/zcbc"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/zcbc/trading/"}]},{"@type":"WebPage","name":"ZCBC Bid-Ask Spread, Liquidity and NAV Premium","description":"As of Oct 12, 2026, ZCBC closed +0.13% from its NAV, and on 95% of the 5 days to then it was within \u00b10.16%. No fund is recommended.","url":"https://etfiq.com/funds/zcbc/trading/","dateModified":"2026-10-12","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3469,"truncated":false,"content":"ETFIQ / ZCBC / Trading \n \n As of Oct 12, 2026. Rebuilt every trading night.\n ZCBC bid-ask spread and liquidity\n As of Oct 12, 2026, ZCBC closed +0.13% from its NAV, and on 95% of the 5 days to then it was within \u00b10.16%.\n IQ Liquidity Score\n Not scored, 0 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 Not measured: 5 days of closing premium are held, under the 20 needed Primary market Not measured: it first traded on 2026-01-07, and no N-CEN ETF row for series S000098009 is in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: 0 of the 10 worst days and 5 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, Oct 12, 2026: +0.13%\n 95% of days within: \u00b10.16%\n Days more than 1% from NAV: 0 of 5\n Widest: +0.16%, Oct 8, 2026\n Close against the NAV its issuer struck the same day, 5 days from Oct 6, 2026 to Oct 12, 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 ZCBC\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 \u00b10.16%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth. 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 Does ZCBC trade at a premium or discount to NAV? It closed +0.13% from its NAV on Oct 12, 2026. On 95% of the 5 days to then it was within \u00b10.16%, and it closed more than 1% from NAV on 0 of them. Who is the LMM for ZCBC? ZCBC\u2019s lead market maker (LMM) on NYSE Arca is Citadel Securities LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. Sources and dates\n Premium: ETFIQ, close against the issuer\u2019s NAV, Oct 6, 2026 to Oct 12, 2026.\n Where to next\n ZCBC 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 ZCBC 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, ZCBC trading: cost, capacity, premium and dealers, data as of Oct 12, 2026. https://etfiq.com/funds/zcbc/trading/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, ZCBC trading: cost, capacity, premium and dealers, data as of Oct 12, 2026. https://etfiq.com/funds/zcbc/trading/ APA ETFIQ. (Oct 12, 2026). ZCBC trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/zcbc/trading/ Markdown [ZCBC trading: cost, capacity, premium and dealers (ETFIQ, Oct 12, 2026)](https://etfiq.com/funds/zcbc/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":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, ZCBC trading: cost, capacity, premium and dealers, data as of Oct 12, 2026. https://etfiq.com/funds/zcbc/trading/"}