{"url":"https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/","section":"trading","title":"Macquarie Capital (USA): ETF AP | ETFIQ","description":"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. 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participant","alternateName":["AP","authorised participant"],"description":"A broker-dealer that has an agreement with an ETF to create new shares by delivering a basket of securities or cash to the fund, and to redeem shares by handing them back.","inDefinedTermSet":"https://etfiq.com/methodology/authorized-participants#glossary"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Is Macquarie Capital (USA) an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"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."}},{"@type":"Question","name":"Which ETFs does Macquarie Capital (USA) create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: SPY, $4.7bn; VOO, $4.3bn; FNDA, $1.6bn; IVV, $1.5bn; PWV, $1.0bn."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does Macquarie Capital (USA) handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 210 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 100.0%. It was the only active AP in 1 ETF."}},{"@type":"Question","name":"Where do these figures come from?","acceptedAnswer":{"@type":"Answer","text":"From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Macquarie Capital (USA)\u2019s CRD, SEC file number and LEI, never by the name as typed."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Authorized participants","item":"https://etfiq.com/trading/authorized-participants/"},{"@type":"ListItem","position":3,"name":"Macquarie Capital (USA)","item":"https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/"}]},{"@type":"WebPage","name":"Macquarie Capital (USA): ETF AP","description":"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. Facts only.","url":"https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/","dateModified":"2026-09-23","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":15105,"truncated":false,"content":"ETFIQ / Authorized participants / Macquarie Capital (USA) \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n Macquarie Capital (USA) Inc.\n 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.\n macquarie.com \n Macquarie Capital (USA) Inc. as an ETF authorized participant: the 100 funds it created and redeemed most in, of 210, ranked by what it created and redeemed, in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. Source: ETFIQ from Form N-CEN. # Ticker Fund Category Created Redeemed Created and redeemed Share of the fund\u2019s AP dollars Active APs in the fund Period ending \n 1 SPY SPDR S&P 500 ETF Trust U.S. stocks $1.5bn $3.3bn $4.7bn 0.2% 26 Dec 31, 2025 \n 2 VOO Vanguard S&P 500 ETF U.S. stocks $3.2bn $1.1bn $4.3bn 0.7% 21 Dec 31, 2025 \n 3 FNDA Schwab Fundamental U.S. Small Company ETF U.S. stocks $810m $807m $1.6bn 35.7% 10 Feb 28, 2026 \n 4 IVV iShares Core S&P 500 ETF U.S. stocks $486m $1.0bn $1.5bn 0.2% 25 Mar 31, 2026 \n 5 PWV Invesco Large Cap Value ETF U.S. stocks $526m $522m $1.0bn 55.1% 9 Apr 30, 2026 \n 6 PKW Invesco BuyBack Achievers ETF U.S. stocks $500m $499m $999m 46.1% 9 Apr 30, 2026 \n 7 KWEB KraneShares CSI China Internet ETF Themes $804m $73.8m $877m 16.5% 7 Mar 31, 2026 \n 8 PDP Invesco Dorsey Wright Momentum ETF U.S. stocks $296m $300m $596m 25.3% 10 Apr 30, 2026 \n 9 BBJP JPMorgan BetaBuilders Japan ETF International stocks $381m $189m $570m 16.4% 5 Oct 31, 2025 \n 10 SOLT 2x Solana ETF Leverage $396m $113m $510m 34.8% 6 Feb 28, 2026 \n 11 BINC iShares Flexible Income Active ETF Bonds $412m $25.6m $438m 6.0% 10 Jul 31, 2025 \n 12 CQQQ Invesco China Technology ETF International stocks $366m $18.0m $384m 15.7% 6 Oct 31, 2025 \n 13 INDA iShares MSCI India ETF International stocks $11.0m $348m $359m 8.1% 7 Aug 31, 2025 \n 14 PRN Invesco Dorsey Wright Industrials Momentum ETF U.S. stocks $177m $179m $355m 42.3% 10 Apr 30, 2026 \n 15 SEIV SEI Enhanced U.S. Large Cap Value Factor ETF U.S. stocks $147m $147m $295m 29.0% 6 Mar 31, 2026 \n 16 INCM Franklin Income Focus ETF Allocation $288m $0 $288m 26.4% 6 Mar 31, 2026 \n 17 DXJ WisdomTree Japan Hedged Equity Fund International stocks $240m $45.5m $285m 11.4% 7 Mar 31, 2026 \n 18 FLIN Franklin FTSE India ETF International stocks $192m $29.5m $222m 14.6% 5 Mar 31, 2026 \n 19 ULTY YieldMax Ultra Option Income Strategy ETF Income $153m $55.5m $209m 4.0% 5 Oct 31, 2025 \n 20 JMUB JPMorgan Municipal ETF Bonds $200m $0 $200m 7.4% 8 Feb 28, 2026 \n 21 FLMI Franklin Dynamic Municipal Bond ETF Bonds $178m $13.7m $192m 14.1% 8 Mar 31, 2026 \n 22 CGMU Capital Group Municipal Income ETF Bonds $182m $0 $182m 8.4% 8 Dec 31, 2025 \n 23 FLJP Franklin FTSE Japan ETF International stocks $137m $43.5m $181m 13.9% 6 Mar 31, 2026 \n 24 MCHI iShares MSCI China ETF International stocks $180m $0 $180m 4.0% 7 Aug 31, 2025 \n 25 QDF Northern Trust Quality Dividend ETF U.S. stocks $89.9m $89.9m $180m 16.3% 6 Oct 31, 2025 \n 26 MSTY YieldMax MSTR Option Income Strategy ETF Income $172m $7.0m $179m 1.9% 7 Oct 31, 2025 \n 27 EWT iShares MSCI Taiwan ETF International stocks $86.7m $89.6m $176m 5.7% 7 Aug 31, 2025 \n 28 SQQQ ProShares UltraPro Short QQQ Leverage $79.1m $89.5m $169m 0.4% 9 May 31, 2026 \n 29 BAI iShares A.I. Innovation and Tech Active ETF Themes $135m $20.6m $156m 1.5% 12 Apr 30, 2026 \n 30 FLTW Franklin FTSE Taiwan ETF International stocks $153m $0 $153m 9.5% 6 Mar 31, 2026 \n 31 FXI iShares China Large-Cap ETF International stocks $124m $22.8m $147m 1.2% 10 Jul 31, 2025 \n 32 EWY iShares MSCI South Korea ETF International stocks $0 $145m $145m 4.7% 5 Aug 31, 2025 \n 33 MMIT NYLIM MacKay Muni Intermediate ETF Bonds $142m $0 $142m 17.5% 7 Apr 30, 2026 \n 34 CMF iShares California Muni Bond ETF Bonds $141m $0 $141m 9.5% 9 Feb 28, 2026 \n 35 CGBL Capital Group Core Balanced ETF Allocation $69.8m $69.9m $140m 4.2% 12 Dec 31, 2025 \n 36 AIA iShares Asia 50 ETF International stocks $130m $9.4m $139m 5.8% 8 Mar 31, 2026 \n 37 SSK REX-Osprey SOL + Staking ETF Crypto $57.1m $75.2m $132m 20.0% 6 Jan 31, 2026 \n 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 \n 39 HYD VanEck High Yield Muni ETF Bonds $98.9m $22.6m $121m 10.0% 10 Apr 30, 2026 \n 40 UXRP ProShares Ultra XRP ETF Leverage $103m $15.1m $118m 40.6% 7 May 31, 2026 \n 41 VTES Vanguard Short-Term Tax-Exempt Bond ETF Bonds $114m $0 $114m 11.9% 8 Nov 30, 2025 \n 42 SOLZ Solana ETF Crypto $90.3m $19.9m $110m 23.0% 5 Feb 28, 2026 \n 43 RWK Invesco S&P MidCap 400 Revenue ETF U.S. stocks $53.2m $53.4m $107m 25.1% 8 Aug 31, 2025 \n 44 CGGR Capital Group Growth ETF U.S. stocks $75.2m $30.5m $106m 0.7% 13 May 31, 2026 \n 45 FTHI First Trust BuyWrite Income ETF Income $103m $0 $103m 9.2% 6 Dec 31, 2025 \n 46 MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund Bonds $102m $0 $102m 24.4% 7 Jun 30, 2026 \n 47 VTEC Vanguard California Tax-Exempt Bond ETF Bonds $100m $0 $100m 8.3% 8 Nov 30, 2025 \n 48 MUNI PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund Bonds $100m $0 $100m 9.0% 8 Jun 30, 2026 \n 49 VCRM Vanguard Core Tax-Exempt Bond ETF Bonds $96.2m $0 $96.2m 15.1% 8 Oct 31, 2025 \n 50 HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF Bonds $94.2m $0 $94.2m 12.9% 10 Jun 30, 2026 \n 51 SUB iShares Short-Term National Muni Bond ETF Bonds $79.1m $10.6m $89.6m 3.4% 9 Feb 28, 2026 \n 52 NYF iShares New York Muni Bond ETF Bonds $88.1m $0 $88.1m 23.3% 6 Feb 28, 2026 \n 53 SMMU PIMCO Short Term Municipal Bond Active Exchange-Traded Fund Bonds $85.8m $0 $85.8m 21.8% 6 Jun 30, 2026 \n 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 \n 55 BITO ProShares Bitcoin ETF Crypto $72.3m $9.6m $81.9m 2.3% 7 May 31, 2026 \n 56 CGHM Capital Group Municipal High-Income ETF Bonds $79.3m $0 $79.3m 3.3% 8 Dec 31, 2025 \n 57 TQQQ ProShares UltraPro QQQ Leverage $36.8m $40.5m $77.3m 0.1% 10 May 31, 2026 \n 58 VSDM Vanguard Short Duration Tax-Exempt Bond ETF Bonds $76.1m $0 $76.1m 27.9% 7 Oct 31, 2025 \n 59 JCPB JPMorgan Core Plus Bond ETF Bonds $74.4m $0 $74.4m 1.6% 5 Feb 28, 2026 \n 60 TSLY YieldMax TSLA Option Income Strategy ETF Income $48.4m $25.4m $73.8m 2.4% 6 Oct 31, 2025 \n 61 HIMU iShares High Yield Muni Active ETF Bonds $72.7m $0 $72.7m 8.9% 8 Oct 31, 2025 \n 62 EPI WisdomTree India Earnings Fund International stocks $0 $71.4m $71.4m 6.3% 5 Mar 31, 2026 \n 63 ASHR Xtrackers Harvest CSI 300 China A-Shares ETF International stocks $65.2m $1.4m $66.6m 2.8% 7 May 31, 2026 \n 64 SLON ProShares Ultra Solana ETF Leverage $47.4m $13.1m $60.5m 35.7% 8 May 31, 2026 \n 65 POWA Invesco Bloomberg Pricing Power ETF U.S. stocks $28.5m $28.7m $57.2m 31.4% 5 Aug 31, 2025 \n 66 ETHU 2x Ether ETF Leverage $33.1m $20.5m $53.6m 0.9% 6 Feb 28, 2026 \n 67 ITM VanEck Intermediate Muni ETF Bonds $50.5m $0 $50.5m 12.9% 7 Apr 30, 2026 \n 68 FBCG Fidelity Blue Chip Growth ETF U.S. stocks $38.1m $12.1m $50.3m 1.9% 8 Jul 31, 2025 \n 69 FCLD Fidelity Cloud Computing ETF Themes $24.2m $24.2m $48.5m 61.8% 4 Jun 30, 2026 \n 70 FMB First Trust Managed Municipal ETF Bonds $32.6m $12.5m $45.1m 11.7% 5 Oct 31, 2025 \n 71 FLKR Franklin FTSE South Korea ETF International stocks $40.9m $3.7m $44.6m 18.5% 5 Mar 31, 2026 \n 72 VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF Bonds $44.5m $0 $44.5m 6.2% 7 Oct 31, 2025 \n 73 CGUS Capital Group Core Equity ETF U.S. stocks $22.1m $22.0m $44.1m 0.6% 12 May 31, 2026 \n 74 BITX 2x Bitcoin ETF Leverage $8.8m $32.7m $41.5m 0.8% 6 Feb 28, 2026 \n 75 CGSM Capital Group Short Duration Municipal Income ETF Bonds $40.9m $0 $40.9m 10.0% 7 Dec 31, 2025 \n 76 EEMA iShares MSCI Emerging Markets Asia ETF International stocks $40.6m $0 $40.6m 3.7% 4 Aug 31, 2025 \n 77 XXRP Teucrium 2x Long Daily XRP ETF Leverage $40.2m $0 $40.2m 5.9% 4 Dec 31, 2025 \n 78 VMBS Vanguard Mortgage-Backed Securities ETF Bonds $20.7m $18.3m $39.0m 0.4% 8 Aug 31, 2025 \n 79 OPPJ WisdomTree Japan Opportunities Fund International stocks $34.9m $0 $34.9m 15.6% 5 Mar 31, 2026 \n 80 MMIN NYLIM MacKay Muni Insured ETF Bonds $34.6m $0 $34.6m 9.1% 6 Apr 30, 2026 \n 81 PLTY YieldMax PLTR Option Income Strategy ETF Income $20.0m $11.9m $31.8m 1.9% 5 Oct 31, 2025 \n 82 KBWY Invesco KBW Premium Yield Equity REIT ETF Sector stocks $15.6m $15.6m $31.2m 25.5% 8 Aug 31, 2025 \n 83 CONY YieldMax COIN Option Income Strategy ETF Income $14.6m $15.0m $29.6m 0.9% 6 Oct 31, 2025 \n 84 ETHT ProShares Ultra Ether ETF Leverage $633k $28.1m $28.8m 1.9% 7 May 31, 2026 \n 85 TSYY GraniteShares YieldBOOST TSLA ETF Income $20.2m $8.4m $28.6m 3.8% 4 Jun 30, 2026 \n 86 IBMS iShares iBonds Dec 2030 Term Muni Bond ETF Bonds $28.3m $0 $28.3m 18.6% 4 Oct 31, 2025 \n 87 GXC State Street SPDR S&P China ETF International stocks $0 $28.2m $28.2m 18.2% 5 Sep 30, 2025 \n 88 MLN VanEck Long Muni ETF Bonds $28.0m $0 $28.0m 12.7% 7 Apr 30, 2026 \n 89 JPXN iShares JPX-Nikkei 400 ETF International stocks $13.8m $13.7m $27.6m 16.4% 4 Mar 31, 2026 \n 90 SEIS SEI Select Small Cap ETF U.S. stocks $13.8m $13.6m $27.4m 11.2% 5 Mar 31, 2026 \n 91 DFGX Dimensional International Core Fixed Income ETF Bonds $26.6m $0 $26.6m 4.4% 6 Oct 31, 2025 \n 92 MEAR iShares Short Maturity Municipal Bond Active ETF Bonds $25.1m $0 $25.1m 3.7% 8 Oct 31, 2025 \n 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 \n 94 INDY iShares India 50 ETF International stocks $16.9m $7.7m $24.6m 22.3% 4 Mar 31, 2026 \n 95 JEPQ JPMorgan Nasdaq Equity Premium Income ETF Income $12.8m $11.4m $24.3m 0.1% 6 Jun 30, 2026 \n 96 KBWP Invesco KBW Property & Casualty Insurance ETF Sector stocks $12.1m $12.1m $24.2m 3.9% 10 Aug 31, 2025 \n 97 IBMR iShares iBonds Dec 2029 Term Muni Bond ETF Bonds $24.0m $0 $24.0m 15.2% 5 Oct 31, 2025 \n 98 FMHI First Trust Municipal High Income ETF Bonds $14.1m $9.3m $23.5m 6.8% 6 Jul 31, 2025 \n 99 SMIN iShares MSCI India Small-Cap ETF International stocks $23.2m $0 $23.2m 3.5% 6 Aug 31, 2025 \n 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 \n \n ETFs where Macquarie Capital (USA) was the only active AP\n In 1 ETF, Macquarie Capital (USA) Inc. was the one AP that created or redeemed shares in the period.\n ETFs where Macquarie Capital (USA) was the only active AP, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Ticker Fund Created Redeemed APs listed Period ending \n 1 XDAT Franklin Exponential Data ETF $0 $1.3m 19 Mar 31, 2026 \n \n Macquarie Capital (USA) by category\n The ETFs Macquarie Capital (USA) Inc. serves, by the category each is placed in, with what it created and redeemed in each.\n Macquarie Capital (USA) by category, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Category Share of its dollars ETFs served Active in Created Redeemed Only active AP in \n 1 U.S. stocks 60.2% 496 25 $8.1bn $8.2bn 0 \n 2 International stocks 12.8% 392 45 $2.3bn $1.1bn 0 \n 3 Sector stocks 0.3% 162 4 $39.2m $53.5m 0 \n 4 Bonds 12.3% 502 64 $3.2bn $173m 0 \n 5 Commodities 0.0% 12 0 $0 $0 0 \n 6 Allocation 1.6% 18 2 $358m $69.9m 0 \n 7 Buffer 0.0% 103 0 $0 $0 0 \n 8 Income 2.8% 81 16 $602m $150m 0 \n 9 Themes 4.3% 183 14 $1.0bn $140m 1 \n 10 Leverage 4.4% 130 34 $779m $421m 0 \n 11 Crypto 1.3% 8 6 $251m $105m 0 \n 12 Alternatives 0.0% 35 0 $0 $0 0 \n \n Questions people ask\n 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\u2019s AP activity does Macquarie Capital (USA) handle? Across the 210 funds it was active in, its share of each fund\u2019s 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\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Macquarie Capital (USA)\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n Macquarie Capital (USA) Inc. is identified by CRD 36368, SEC file number 8-47198, LEI 549300670K07JRB5UQ40. It is on the SEC\u2019s 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\u2019s latest Form N-CEN, with the dollars of the fund\u2019s shares it purchased from the fund (created) and redeemed in the fund\u2019s reporting period, as filed. A fund\u2019s period is its own fiscal year, or less where the filing says so, so a firm\u2019s 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. A firm\u2019s name is its registration on the SEC\u2019s 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.\n Where to next\n Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Every ETF authorized participant (AP) The most active APs Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Most active APs for bond ETFs ETF lead market makers (LMMs) How the AP list is built The open data file Fund flows Where these figures came from\n SEC Form N-CEN data sets, the source of every AP row Form N-CEN, item E.2: each authorized participant and its dollars SEC list of active broker-dealers, the source of each firm\u2019s registered name ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A list of firms is not a rating or a recommendation. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. 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/ 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, Macquarie Capital (USA) Inc. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/ APA ETFIQ. (Sep 23, 2026). Macquarie Capital (USA) Inc. as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/ Markdown [Macquarie Capital (USA) Inc. as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/)","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, Macquarie Capital (USA) Inc. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/macquarie-capital-usa/"}