Macquarie Capital (USA) Inc.
Macquarie Capital (USA) Inc. was an authorized participant (AP) for 2,122 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. It created $16.6bn and redeemed $10.5bn of their shares. It was active in 210 of them.
macquarie.com, the firm’s website ↗| # | Ticker | Fund | Category | Created | Redeemed | Created and redeemed ↓ | Share of the fund’s AP dollars | Active APs in the fund | Period ending |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SPY | SPDR S&P 500 ETF Trust | U.S. stocks | $1.5bn | $3.3bn | $4.7bn | 0.2% | 26 | Dec 31, 2025 |
| 2 | VOO | Vanguard S&P 500 ETF | U.S. stocks | $3.2bn | $1.1bn | $4.3bn | 0.7% | 21 | Dec 31, 2025 |
| 3 | FNDA | Schwab Fundamental U.S. Small Company ETF | U.S. stocks | $810m | $807m | $1.6bn | 35.7% | 10 | Feb 28, 2026 |
| 4 | IVV | iShares Core S&P 500 ETF | U.S. stocks | $486m | $1.0bn | $1.5bn | 0.2% | 25 | Mar 31, 2026 |
| 5 | PWV | Invesco Large Cap Value ETF | U.S. stocks | $526m | $522m | $1.0bn | 55.1% | 9 | Apr 30, 2026 |
| 6 | PKW | Invesco BuyBack Achievers ETF | U.S. stocks | $500m | $499m | $999m | 46.1% | 9 | Apr 30, 2026 |
| 7 | KWEB | KraneShares CSI China Internet ETF | Themes | $804m | $73.8m | $877m | 16.5% | 7 | Mar 31, 2026 |
| 8 | PDP | Invesco Dorsey Wright Momentum ETF | U.S. stocks | $296m | $300m | $596m | 25.3% | 10 | Apr 30, 2026 |
| 9 | BBJP | JPMorgan BetaBuilders Japan ETF | International stocks | $381m | $189m | $570m | 16.4% | 5 | Oct 31, 2025 |
| 10 | SOLT | 2x Solana ETF | Leverage | $396m | $113m | $510m | 34.8% | 6 | Feb 28, 2026 |
| 11 | BINC | iShares Flexible Income Active ETF | Bonds | $412m | $25.6m | $438m | 6.0% | 10 | Jul 31, 2025 |
| 12 | CQQQ | Invesco China Technology ETF | International stocks | $366m | $18.0m | $384m | 15.7% | 6 | Oct 31, 2025 |
| 13 | INDA | iShares MSCI India ETF | International stocks | $11.0m | $348m | $359m | 8.1% | 7 | Aug 31, 2025 |
| 14 | PRN | Invesco Dorsey Wright Industrials Momentum ETF | U.S. stocks | $177m | $179m | $355m | 42.3% | 10 | Apr 30, 2026 |
| 15 | SEIV | SEI Enhanced U.S. Large Cap Value Factor ETF | U.S. stocks | $147m | $147m | $295m | 29.0% | 6 | Mar 31, 2026 |
| 16 | INCM | Franklin Income Focus ETF | Allocation | $288m | $0 | $288m | 26.4% | 6 | Mar 31, 2026 |
| 17 | DXJ | WisdomTree Japan Hedged Equity Fund | International stocks | $240m | $45.5m | $285m | 11.4% | 7 | Mar 31, 2026 |
| 18 | FLIN | Franklin FTSE India ETF | International stocks | $192m | $29.5m | $222m | 14.6% | 5 | Mar 31, 2026 |
| 19 | ULTY | YieldMax Ultra Option Income Strategy ETF | Income | $153m | $55.5m | $209m | 4.0% | 5 | Oct 31, 2025 |
| 20 | JMUB | JPMorgan Municipal ETF | Bonds | $200m | $0 | $200m | 7.4% | 8 | Feb 28, 2026 |
| 21 | FLMI | Franklin Dynamic Municipal Bond ETF | Bonds | $178m | $13.7m | $192m | 14.1% | 8 | Mar 31, 2026 |
| 22 | CGMU | Capital Group Municipal Income ETF | Bonds | $182m | $0 | $182m | 8.4% | 8 | Dec 31, 2025 |
| 23 | FLJP | Franklin FTSE Japan ETF | International stocks | $137m | $43.5m | $181m | 13.9% | 6 | Mar 31, 2026 |
| 24 | MCHI | iShares MSCI China ETF | International stocks | $180m | $0 | $180m | 4.0% | 7 | Aug 31, 2025 |
| 25 | QDF | Northern Trust Quality Dividend ETF | U.S. stocks | $89.9m | $89.9m | $180m | 16.3% | 6 | Oct 31, 2025 |
| 26 | MSTY | YieldMax MSTR Option Income Strategy ETF | Income | $172m | $7.0m | $179m | 1.9% | 7 | Oct 31, 2025 |
| 27 | EWT | iShares MSCI Taiwan ETF | International stocks | $86.7m | $89.6m | $176m | 5.7% | 7 | Aug 31, 2025 |
| 28 | SQQQ | ProShares UltraPro Short QQQ | Leverage | $79.1m | $89.5m | $169m | 0.4% | 9 | May 31, 2026 |
| 29 | BAI | iShares A.I. Innovation and Tech Active ETF | Themes | $135m | $20.6m | $156m | 1.5% | 12 | Apr 30, 2026 |
| 30 | FLTW | Franklin FTSE Taiwan ETF | International stocks | $153m | $0 | $153m | 9.5% | 6 | Mar 31, 2026 |
| 31 | FXI | iShares China Large-Cap ETF | International stocks | $124m | $22.8m | $147m | 1.2% | 10 | Jul 31, 2025 |
| 32 | EWY | iShares MSCI South Korea ETF | International stocks | $0 | $145m | $145m | 4.7% | 5 | Aug 31, 2025 |
| 33 | MMIT | NYLIM MacKay Muni Intermediate ETF | Bonds | $142m | $0 | $142m | 17.5% | 7 | Apr 30, 2026 |
| 34 | CMF | iShares California Muni Bond ETF | Bonds | $141m | $0 | $141m | 9.5% | 9 | Feb 28, 2026 |
| 35 | CGBL | Capital Group Core Balanced ETF | Allocation | $69.8m | $69.9m | $140m | 4.2% | 12 | Dec 31, 2025 |
| 36 | AIA | iShares Asia 50 ETF | International stocks | $130m | $9.4m | $139m | 5.8% | 8 | Mar 31, 2026 |
| 37 | SSK | REX-Osprey SOL + Staking ETF | Crypto | $57.1m | $75.2m | $132m | 20.0% | 6 | Jan 31, 2026 |
| 38 | SEIM | SEI Enhanced U.S. Large Cap Momentum Factor ETF | U.S. stocks | $63.2m | $63.4m | $127m | 9.5% | 6 | Mar 31, 2026 |
| 39 | HYD | VanEck High Yield Muni ETF | Bonds | $98.9m | $22.6m | $121m | 10.0% | 10 | Apr 30, 2026 |
| 40 | UXRP | ProShares Ultra XRP ETF | Leverage | $103m | $15.1m | $118m | 40.6% | 7 | May 31, 2026 |
| 41 | VTES | Vanguard Short-Term Tax-Exempt Bond ETF | Bonds | $114m | $0 | $114m | 11.9% | 8 | Nov 30, 2025 |
| 42 | SOLZ | Solana ETF | Crypto | $90.3m | $19.9m | $110m | 23.0% | 5 | Feb 28, 2026 |
| 43 | RWK | Invesco S&P MidCap 400 Revenue ETF | U.S. stocks | $53.2m | $53.4m | $107m | 25.1% | 8 | Aug 31, 2025 |
| 44 | CGGR | Capital Group Growth ETF | U.S. stocks | $75.2m | $30.5m | $106m | 0.7% | 13 | May 31, 2026 |
| 45 | FTHI | First Trust BuyWrite Income ETF | Income | $103m | $0 | $103m | 9.2% | 6 | Dec 31, 2025 |
| 46 | MINO | PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | Bonds | $102m | $0 | $102m | 24.4% | 7 | Jun 30, 2026 |
| 47 | VTEC | Vanguard California Tax-Exempt Bond ETF | Bonds | $100m | $0 | $100m | 8.3% | 8 | Nov 30, 2025 |
| 48 | MUNI | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | Bonds | $100m | $0 | $100m | 9.0% | 8 | Jun 30, 2026 |
| 49 | VCRM | Vanguard Core Tax-Exempt Bond ETF | Bonds | $96.2m | $0 | $96.2m | 15.1% | 8 | Oct 31, 2025 |
| 50 | HYMB | State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | Bonds | $94.2m | $0 | $94.2m | 12.9% | 10 | Jun 30, 2026 |
| 51 | SUB | iShares Short-Term National Muni Bond ETF | Bonds | $79.1m | $10.6m | $89.6m | 3.4% | 9 | Feb 28, 2026 |
| 52 | NYF | iShares New York Muni Bond ETF | Bonds | $88.1m | $0 | $88.1m | 23.3% | 6 | Feb 28, 2026 |
| 53 | SMMU | PIMCO Short Term Municipal Bond Active Exchange-Traded Fund | Bonds | $85.8m | $0 | $85.8m | 21.8% | 6 | Jun 30, 2026 |
| 54 | CGMM | Capital Group U.S. Small and Mid Cap ETF | U.S. stocks | $42.5m | $42.5m | $85.1m | 2.5% | 14 | May 31, 2026 |
| 55 | BITO | ProShares Bitcoin ETF | Crypto | $72.3m | $9.6m | $81.9m | 2.3% | 7 | May 31, 2026 |
| 56 | CGHM | Capital Group Municipal High-Income ETF | Bonds | $79.3m | $0 | $79.3m | 3.3% | 8 | Dec 31, 2025 |
| 57 | TQQQ | ProShares UltraPro QQQ | Leverage | $36.8m | $40.5m | $77.3m | 0.1% | 10 | May 31, 2026 |
| 58 | VSDM | Vanguard Short Duration Tax-Exempt Bond ETF | Bonds | $76.1m | $0 | $76.1m | 27.9% | 7 | Oct 31, 2025 |
| 59 | JCPB | JPMorgan Core Plus Bond ETF | Bonds | $74.4m | $0 | $74.4m | 1.6% | 5 | Feb 28, 2026 |
| 60 | TSLY | YieldMax TSLA Option Income Strategy ETF | Income | $48.4m | $25.4m | $73.8m | 2.4% | 6 | Oct 31, 2025 |
| 61 | HIMU | iShares High Yield Muni Active ETF | Bonds | $72.7m | $0 | $72.7m | 8.9% | 8 | Oct 31, 2025 |
| 62 | EPI | WisdomTree India Earnings Fund | International stocks | $0 | $71.4m | $71.4m | 6.3% | 5 | Mar 31, 2026 |
| 63 | ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | International stocks | $65.2m | $1.4m | $66.6m | 2.8% | 7 | May 31, 2026 |
| 64 | SLON | ProShares Ultra Solana ETF | Leverage | $47.4m | $13.1m | $60.5m | 35.7% | 8 | May 31, 2026 |
| 65 | POWA | Invesco Bloomberg Pricing Power ETF | U.S. stocks | $28.5m | $28.7m | $57.2m | 31.4% | 5 | Aug 31, 2025 |
| 66 | ETHU | 2x Ether ETF | Leverage | $33.1m | $20.5m | $53.6m | 0.9% | 6 | Feb 28, 2026 |
| 67 | ITM | VanEck Intermediate Muni ETF | Bonds | $50.5m | $0 | $50.5m | 12.9% | 7 | Apr 30, 2026 |
| 68 | FBCG | Fidelity Blue Chip Growth ETF | U.S. stocks | $38.1m | $12.1m | $50.3m | 1.9% | 8 | Jul 31, 2025 |
| 69 | FCLD | Fidelity Cloud Computing ETF | Themes | $24.2m | $24.2m | $48.5m | 61.8% | 4 | Jun 30, 2026 |
| 70 | FMB | First Trust Managed Municipal ETF | Bonds | $32.6m | $12.5m | $45.1m | 11.7% | 5 | Oct 31, 2025 |
| 71 | FLKR | Franklin FTSE South Korea ETF | International stocks | $40.9m | $3.7m | $44.6m | 18.5% | 5 | Mar 31, 2026 |
| 72 | VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | Bonds | $44.5m | $0 | $44.5m | 6.2% | 7 | Oct 31, 2025 |
| 73 | CGUS | Capital Group Core Equity ETF | U.S. stocks | $22.1m | $22.0m | $44.1m | 0.6% | 12 | May 31, 2026 |
| 74 | BITX | 2x Bitcoin ETF | Leverage | $8.8m | $32.7m | $41.5m | 0.8% | 6 | Feb 28, 2026 |
| 75 | CGSM | Capital Group Short Duration Municipal Income ETF | Bonds | $40.9m | $0 | $40.9m | 10.0% | 7 | Dec 31, 2025 |
| 76 | EEMA | iShares MSCI Emerging Markets Asia ETF | International stocks | $40.6m | $0 | $40.6m | 3.7% | 4 | Aug 31, 2025 |
| 77 | XXRP | Teucrium 2x Long Daily XRP ETF | Leverage | $40.2m | $0 | $40.2m | 5.9% | 4 | Dec 31, 2025 |
| 78 | VMBS | Vanguard Mortgage-Backed Securities ETF | Bonds | $20.7m | $18.3m | $39.0m | 0.4% | 8 | Aug 31, 2025 |
| 79 | OPPJ | WisdomTree Japan Opportunities Fund | International stocks | $34.9m | $0 | $34.9m | 15.6% | 5 | Mar 31, 2026 |
| 80 | MMIN | NYLIM MacKay Muni Insured ETF | Bonds | $34.6m | $0 | $34.6m | 9.1% | 6 | Apr 30, 2026 |
| 81 | PLTY | YieldMax PLTR Option Income Strategy ETF | Income | $20.0m | $11.9m | $31.8m | 1.9% | 5 | Oct 31, 2025 |
| 82 | KBWY | Invesco KBW Premium Yield Equity REIT ETF | Sector stocks | $15.6m | $15.6m | $31.2m | 25.5% | 8 | Aug 31, 2025 |
| 83 | CONY | YieldMax COIN Option Income Strategy ETF | Income | $14.6m | $15.0m | $29.6m | 0.9% | 6 | Oct 31, 2025 |
| 84 | ETHT | ProShares Ultra Ether ETF | Leverage | $633k | $28.1m | $28.8m | 1.9% | 7 | May 31, 2026 |
| 85 | TSYY | GraniteShares YieldBOOST TSLA ETF | Income | $20.2m | $8.4m | $28.6m | 3.8% | 4 | Jun 30, 2026 |
| 86 | IBMS | iShares iBonds Dec 2030 Term Muni Bond ETF | Bonds | $28.3m | $0 | $28.3m | 18.6% | 4 | Oct 31, 2025 |
| 87 | GXC | State Street SPDR S&P China ETF | International stocks | $0 | $28.2m | $28.2m | 18.2% | 5 | Sep 30, 2025 |
| 88 | MLN | VanEck Long Muni ETF | Bonds | $28.0m | $0 | $28.0m | 12.7% | 7 | Apr 30, 2026 |
| 89 | JPXN | iShares JPX-Nikkei 400 ETF | International stocks | $13.8m | $13.7m | $27.6m | 16.4% | 4 | Mar 31, 2026 |
| 90 | SEIS | SEI Select Small Cap ETF | U.S. stocks | $13.8m | $13.6m | $27.4m | 11.2% | 5 | Mar 31, 2026 |
| 91 | DFGX | Dimensional International Core Fixed Income ETF | Bonds | $26.6m | $0 | $26.6m | 4.4% | 6 | Oct 31, 2025 |
| 92 | MEAR | iShares Short Maturity Municipal Bond Active ETF | Bonds | $25.1m | $0 | $25.1m | 3.7% | 8 | Oct 31, 2025 |
| 93 | KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | International stocks | $14.1m | $10.6m | $24.7m | 16.0% | 5 | Mar 31, 2026 |
| 94 | INDY | iShares India 50 ETF | International stocks | $16.9m | $7.7m | $24.6m | 22.3% | 4 | Mar 31, 2026 |
| 95 | JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | Income | $12.8m | $11.4m | $24.3m | 0.1% | 6 | Jun 30, 2026 |
| 96 | KBWP | Invesco KBW Property & Casualty Insurance ETF | Sector stocks | $12.1m | $12.1m | $24.2m | 3.9% | 10 | Aug 31, 2025 |
| 97 | IBMR | iShares iBonds Dec 2029 Term Muni Bond ETF | Bonds | $24.0m | $0 | $24.0m | 15.2% | 5 | Oct 31, 2025 |
| 98 | FMHI | First Trust Municipal High Income ETF | Bonds | $14.1m | $9.3m | $23.5m | 6.8% | 6 | Jul 31, 2025 |
| 99 | SMIN | iShares MSCI India Small-Cap ETF | International stocks | $23.2m | $0 | $23.2m | 3.5% | 6 | Aug 31, 2025 |
| 100 | RSPC | Invesco S&P 500 Equal Weight Communication Services ETF | Sector stocks | $11.4m | $11.4m | $22.8m | 28.5% | 8 | Apr 30, 2026 |
ETFs where Macquarie Capital (USA) was the only active AP
In 1 ETF, Macquarie Capital (USA) Inc. was the one AP that created or redeemed shares in the period.
| # | Ticker | Fund | Created | Redeemed | APs listed | Period ending |
|---|---|---|---|---|---|---|
| 1 | XDAT | Franklin Exponential Data ETF | $0 | $1.3m | 19 | Mar 31, 2026 |
Macquarie Capital (USA) by category
The ETFs Macquarie Capital (USA) Inc. serves, by the category each is placed in, with what it created and redeemed in each.
| # | Category | Share of its dollars | ETFs served | Active in | Created | Redeemed | Only active AP in |
|---|---|---|---|---|---|---|---|
| 1 | U.S. stocks | 60.2% | 496 | 25 | $8.1bn | $8.2bn | 0 |
| 2 | International stocks | 12.8% | 392 | 45 | $2.3bn | $1.1bn | 0 |
| 3 | Sector stocks | 0.3% | 162 | 4 | $39.2m | $53.5m | 0 |
| 4 | Bonds | 12.3% | 502 | 64 | $3.2bn | $173m | 0 |
| 5 | Commodities | 0.0% | 12 | 0 | $0 | $0 | 0 |
| 6 | Allocation | 1.6% | 18 | 2 | $358m | $69.9m | 0 |
| 7 | Buffer | 0.0% | 103 | 0 | $0 | $0 | 0 |
| 8 | Income | 2.8% | 81 | 16 | $602m | $150m | 0 |
| 9 | Themes | 4.3% | 183 | 14 | $1.0bn | $140m | 1 |
| 10 | Leverage | 4.4% | 130 | 34 | $779m | $421m | 0 |
| 11 | Crypto | 1.3% | 8 | 6 | $251m | $105m | 0 |
| 12 | Alternatives | 0.0% | 35 | 0 | $0 | $0 | 0 |
Questions people ask
Is Macquarie Capital (USA) an ETF authorized participant (AP)?
Which ETFs does Macquarie Capital (USA) create and redeem the most?
How much of an ETF’s AP activity does Macquarie Capital (USA) handle?
Where do these figures come from?
Method
Macquarie Capital (USA) Inc. is identified by CRD 36368, SEC file number 8-47198, LEI 549300670K07JRB5UQ40. It is on the SEC’s list of active broker-dealers dated Oct 1, 2026 as MACQUARIE CAPITAL (USA) INC.. Funds filed its name 8 ways; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF’s latest Form N-CEN, with the dollars of the fund’s shares it purchased from the fund (created) and redeemed in the fund’s reporting period, as filed. A fund’s period is its own fiscal year, or less where the filing says so, so a firm’s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there.
The rest of the method
A firm’s name is its registration on the SEC’s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A list of firms is not a rating or a recommendation.
Questions people ask
Is Macquarie Capital (USA) an ETF authorized participant (AP)?
Yes. Macquarie Capital (USA) Inc. is listed as an AP for 2,122 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026, and created or redeemed shares in 210 of them.
Which ETFs does Macquarie Capital (USA) create and redeem the most?
By dollars created and redeemed: SPY, $4.7bn; VOO, $4.3bn; FNDA, $1.6bn; IVV, $1.5bn; PWV, $1.0bn.
How much of an ETF’s AP activity does Macquarie Capital (USA) handle?
Across the 210 funds it was active in, its share of each fund’s AP dollars ran from 0.0% to 100.0%. It was the only active AP in 1 ETF.
Where do these figures come from?
From item E.2 of each ETF’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Macquarie Capital (USA)’s CRD, SEC file number and LEI, never by the name as typed.
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ETFIQ, Macquarie Capital (USA) Inc. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/
ETFIQ. (Sep 23, 2026). Macquarie Capital (USA) Inc. as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/
[Macquarie Capital (USA) Inc. as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/)
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