{"url":"https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/","section":"trading","title":"Merrill Lynch, Pierce, Fenner and Smith: ETF AP | ETFIQ","description":"Merrill Lynch, Pierce, Fenner and Smith Incorporated was an ETF authorized participant (AP) for 488 US ETFs in their latest Form N-CEN. 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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 Merrill Lynch, Pierce, Fenner and Smith an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"Yes. Merrill Lynch, Pierce, Fenner and Smith Incorporated is listed as an AP for 488 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026, and created or redeemed shares in 369 of them."}},{"@type":"Question","name":"Which ETFs does Merrill Lynch, Pierce, Fenner and Smith create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: TQQQ, $33.9bn; SQQQ, $18.8bn; VEA, $8.5bn; VXUS, $6.6bn; UPRO, $5.8bn."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does Merrill Lynch, Pierce, Fenner and Smith handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 369 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.3% to 100.0%. It was the only active AP in 3 ETFs."}},{"@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 Merrill Lynch, Pierce, Fenner and Smith\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":"Merrill Lynch, Pierce, Fenner and Smith","item":"https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/"}]},{"@type":"WebPage","name":"Merrill Lynch, Pierce, Fenner and Smith: ETF AP","description":"Merrill Lynch, Pierce, Fenner and Smith Incorporated was an ETF authorized participant (AP) for 488 US ETFs in their latest Form N-CEN. Facts only.","url":"https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/","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":15725,"truncated":false,"content":"ETFIQ / Authorized participants / Merrill Lynch, Pierce, Fenner and Smith \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n Merrill Lynch, Pierce, Fenner and Smith Incorporated\n Merrill Lynch, Pierce, Fenner and Smith Incorporated was an authorized participant (AP) for 488 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026. It created $85.9bn and redeemed $62.7bn of their shares. It was active in 369 of them.\n ml.com \n Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant: the 100 funds it created and redeemed most in, of 369, ranked by what it created and redeemed, in Form N-CEN periods ending Jul 31, 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 TQQQ ProShares UltraPro QQQ Leverage $12.6bn $21.3bn $33.9bn 57.0% 10 May 31, 2026 \n 2 SQQQ ProShares UltraPro Short QQQ Leverage $9.9bn $8.9bn $18.8bn 49.8% 9 May 31, 2026 \n 3 VEA Vanguard FTSE Developed Markets ETF International stocks $8.5bn $0 $8.5bn 50.7% 9 Dec 31, 2025 \n 4 VXUS Vanguard Total International Stock ETF International stocks $6.6bn $0 $6.6bn 48.6% 8 Oct 31, 2025 \n 5 UPRO ProShares UltraPro S&P500 Leverage $2.7bn $3.1bn $5.8bn 48.2% 7 May 31, 2026 \n 6 VT Vanguard Total World Stock Index ETF International stocks $5.5bn $120m $5.6bn 60.8% 7 Oct 31, 2025 \n 7 TSLQ Tradr 2X Short TSLA Daily ETF Leverage $2.4bn $2.2bn $4.6bn 75.3% 6 Mar 31, 2026 \n 8 SSO ProShares Ultra S&P500 Leverage $2.1bn $2.2bn $4.2bn 39.9% 8 May 31, 2026 \n 9 VGK Vanguard FTSE Europe ETF International stocks $3.4bn $836m $4.2bn 53.0% 8 Oct 31, 2025 \n 10 XOVR ERShares Private-Public Crossover ETF U.S. stocks $2.1bn $1.6bn $3.7bn 49.6% 4 Jun 30, 2026 \n 11 VWO Vanguard FTSE Emerging Markets ETF International stocks $3.4bn $0 $3.4bn 52.9% 3 Oct 31, 2025 \n 12 VEU Vanguard FTSE All World Ex US ETF International stocks $3.1bn $297m $3.4bn 79.9% 4 Oct 31, 2025 \n 13 PSQ ProShares Short QQQ Leverage $1.1bn $1.6bn $2.7bn 45.1% 7 May 31, 2026 \n 14 SH ProShares Short S&P500 Leverage $1.4bn $1.2bn $2.6bn 29.0% 6 May 31, 2026 \n 15 VYMI Vanguard International High Dividend Yield ETF International stocks $2.3bn $0 $2.3bn 70.6% 4 Oct 31, 2025 \n 16 QLD ProShares Ultra QQQ Leverage $899m $1.3bn $2.2bn 29.3% 6 May 31, 2026 \n 17 TBIL F/m US Treasury 3 Month Bill Fund Bonds $1.8bn $68.9m $1.9bn 7.8% 5 Aug 31, 2024 \n 18 SPXU ProShares UltraPro Short S&P500 Leverage $948m $855m $1.8bn 24.8% 7 May 31, 2026 \n 19 GRNY Fundstrat Granny Shots US Large Cap ETF U.S. stocks $1.6bn $59.7m $1.7bn 51.1% 6 Oct 31, 2025 \n 20 VSS Vanguard FTSE All-Wld ex-US SmCp Idx ETF International stocks $663m $1.0bn $1.7bn 73.1% 8 Oct 31, 2025 \n 21 SDS ProShares UltraShort S&P500 Leverage $668m $682m $1.4bn 22.4% 6 May 31, 2026 \n 22 USD ProShares Ultra Semiconductors Leverage $487m $793m $1.3bn 33.0% 10 May 31, 2026 \n 23 RWM ProShares Short Russell2000 Leverage $715m $548m $1.3bn 63.0% 8 May 31, 2026 \n 24 NOBL ProShares S&P 500 Dividend Aristocrats ETF U.S. stocks $179m $731m $910m 39.3% 10 May 31, 2026 \n 25 QID ProShares UltraShort QQQ Leverage $527m $360m $887m 26.9% 6 May 31, 2026 \n 26 RSMC Rockefeller U.S. Small-Mid Cap ETF U.S. stocks $391m $430m $820m 69.7% 4 Jul 31, 2025 \n 27 UDOW ProShares UltraPro Dow30 Leverage $342m $371m $713m 30.2% 7 May 31, 2026 \n 28 ASTX Tradr 2X Long ASTS Daily ETF Leverage $346m $347m $693m 57.5% 6 Mar 31, 2026 \n 29 CWVX Tradr 2X Long CRWV Daily ETF Leverage $296m $328m $623m 47.9% 5 Mar 31, 2026 \n 30 SDOW ProShares UltraPro Short Dow30 Leverage $389m $230m $618m 47.0% 4 May 31, 2026 \n 31 ICOW Pacer Developed Markets International Cash Cows 100 ETF International stocks $295m $294m $589m 52.9% 5 Apr 30, 2026 \n 32 VIGI Vanguard International Dividend Appreciation ETF International stocks $556m $18.2m $574m 47.3% 5 Oct 31, 2025 \n 33 UYG ProShares Ultra Financials Leverage $240m $269m $509m 19.9% 9 May 31, 2026 \n 34 REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF U.S. stocks $151m $283m $434m 77.8% 6 May 31, 2026 \n 35 XBIL F/m US Treasury 6 Month Bill ETF Bonds $296m $116m $412m 9.2% 3 Aug 31, 2024 \n 36 JETS U.S. Global Jets ETF Themes $116m $278m $394m 20.2% 6 Dec 31, 2025 \n 37 CRCA ProShares Ultra CRCL Leverage $209m $179m $387m 33.7% 12 May 31, 2026 \n 38 BLOK Amplify Blockchain Technology ETF Themes $289m $95.0m $384m 24.3% 7 Sep 30, 2024 \n 39 QBTX Tradr 2X Long QBTS Daily ETF Leverage $218m $151m $369m 38.4% 5 Mar 31, 2026 \n 40 NEBX Tradr 2X Long NBIS Daily ETF Leverage $185m $112m $297m 46.6% 6 Mar 31, 2026 \n 41 OMAH VistaShares Target 15 Berkshire Select Income ETF Income $273m $13.6m $287m 36.4% 4 Feb 28, 2026 \n 42 URTY ProShares UltraPro Russell2000 Leverage $64.2m $221m $285m 40.5% 5 May 31, 2026 \n 43 SRTY ProShares UltraPro Short Russell2000 Leverage $194m $83.6m $278m 43.9% 7 May 31, 2026 \n 44 DOG ProShares Short Dow30 Leverage $127m $142m $268m 51.2% 5 May 31, 2026 \n 45 VPL Vanguard FTSE Pacific ETF International stocks $240m $24.4m $264m 12.3% 6 Oct 31, 2025 \n 46 OILK ProShares K-1 Free Crude Oil ETF Commodities $179m $79.9m $259m 50.3% 4 May 31, 2026 \n 47 XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - Apr Buffer $0 $252m $252m 32.0% 6 Oct 31, 2025 \n 48 TBT ProShares UltraShort 20+ Year Treasury Leverage $145m $106m $251m 52.9% 5 May 31, 2026 \n 49 SMU Tradr 2X Long SMR Daily ETF Leverage $192m $58.2m $250m 35.4% 6 Mar 31, 2026 \n 50 NULG Nuveen ESG Large-Cap Growth ETF U.S. stocks $0 $250m $250m 16.2% 6 Oct 31, 2025 \n 51 VSGX Vanguard ESG International Stock ETF International stocks $244m $0 $244m 43.0% 5 Aug 31, 2025 \n 52 UBT ProShares Ultra 20+ Year Treasury Leverage $86.3m $147m $234m 86.0% 5 May 31, 2026 \n 53 NVDS Tradr 1.5X Short NVDA Daily ETF Leverage $161m $71.7m $232m 56.4% 4 Mar 31, 2026 \n 54 PSEP Innovator U.S. Equity Power Buffer ETF - Sep Buffer $0 $232m $232m 30.4% 7 Oct 31, 2025 \n 55 SJB ProShares Short High Yield Leverage $96.9m $128m $225m 74.8% 2 May 31, 2026 \n 56 APPX Tradr 2X Long APP Daily ETF Leverage $118m $103m $221m 35.3% 5 Mar 31, 2026 \n 57 DDM ProShares Ultra Dow30 Leverage $93.4m $123m $217m 32.2% 6 May 31, 2026 \n 58 RGEF Rockefeller Global Equity ETF International stocks $65.1m $149m $214m 58.7% 4 Jul 31, 2025 \n 59 TOGA Tremblant Global ETF U.S. stocks $103m $106m $210m 81.8% 6 Dec 31, 2025 \n 60 UTWO F/m US Treasury 2 Year Note ETF Bonds $144m $46.7m $191m 66.7% 3 Aug 31, 2024 \n 61 PNOV Innovator U.S. Equity Power Buffer ETF - Nov Buffer $0 $183m $183m 11.0% 6 Oct 31, 2025 \n 62 UJB ProShares Ultra High Yield Leverage $89.1m $92.0m $181m 69.3% 3 May 31, 2026 \n 63 VNQI Vanguard Global ex-U.S. Real Estate ETF Sector stocks $119m $61.1m $180m 35.8% 5 Oct 31, 2025 \n 64 EETH ProShares Ether ETF Crypto $77.6m $100m $178m 17.7% 4 May 31, 2026 \n 65 PDEC Innovator U.S. Equity Power Buffer ETF - Dec Buffer $0 $170m $170m 21.0% 7 Oct 31, 2025 \n 66 PAUG Innovator U.S. Equity Power Buffer ETF - Aug Buffer $0 $169m $169m 26.2% 7 Oct 31, 2025 \n 67 UWM ProShares Ultra Russell2000 Leverage $37.8m $131m $169m 27.7% 6 May 31, 2026 \n 68 RMOP Rockefeller Opportunistic Municipal Bond ETF Bonds $158m $10.1m $168m 79.6% 3 Jul 31, 2025 \n 69 ISPY ProShares S&P 500 High Income ETF Income $108m $57.3m $165m 37.4% 4 May 31, 2026 \n 70 MQQQ Tradr 2X Long Innovation 100 Monthly ETF Leverage $113m $48.2m $161m 31.0% 3 Mar 31, 2026 \n 71 ETHT ProShares Ultra Ether ETF Leverage $76.9m $79.5m $156m 10.4% 7 May 31, 2026 \n 72 RBUF Innovator U.S. Small Cap 10 Buffer ETF - Quarterly Buffer $0 $148m $148m 24.1% 5 Oct 31, 2025 \n 73 SBIT ProShares UltraShort Bitcoin ETF Leverage $41.5m $103m $145m 14.6% 6 May 31, 2026 \n 74 QUBX Tradr 2X Long QUBT Daily ETF Leverage $110m $27.3m $137m 42.2% 5 Mar 31, 2026 \n 75 BITU ProShares Ultra Bitcoin ETF Leverage $50.2m $86.7m $137m 8.8% 7 May 31, 2026 \n 76 UST ProShares Ultra 7-10 Year Treasury Leverage $47.5m $89.1m $137m 70.5% 5 May 31, 2026 \n 77 TEMT Tradr 2X Long TEM Daily ETF Leverage $83.9m $49.5m $133m 35.6% 5 Mar 31, 2026 \n 78 BAUG Innovator U.S. Equity Buffer ETF - Aug Buffer $0 $131m $131m 21.1% 5 Oct 31, 2025 \n 79 PJUN Innovator U.S. Equity Power Buffer ETF - Jun Buffer $0 $129m $129m 7.6% 6 Oct 31, 2025 \n 80 OBIL F/m US Treasury 12 Month Bill ETF Bonds $82.3m $44.4m $127m 18.4% 4 Aug 31, 2024 \n 81 CCNR ALPS CoreCommodity Natural Resources ETF International stocks $79.8m $42.8m $123m 57.9% 2 Oct 31, 2025 \n 82 POCT Innovator U.S. Equity Power Buffer ETF - Oct Buffer $0 $117m $117m 17.5% 7 Oct 31, 2025 \n 83 PJUL Innovator U.S. Equity Power Buffer ETF - Jul Buffer $0 $116m $116m 17.2% 8 Oct 31, 2025 \n 84 KJAN Innovator U.S. Small Cap Power Buffer ETF - Jan Buffer $0 $116m $116m 12.9% 6 Oct 31, 2025 \n 85 PTNQ Pacer Trendpilot 100 ETF U.S. stocks $7.9m $107m $115m 17.8% 7 Apr 30, 2026 \n 86 WCPB Weitz Core Plus Bond ETF Bonds $112m $1.3m $113m 55.9% 5 May 31, 2026 \n 87 PJAN Innovator U.S. Equity Power Buffer ETF - Jan Buffer $0 $106m $106m 16.3% 8 Oct 31, 2025 \n 88 HACK Amplify Cybersecurity ETF Themes $15.6m $88.7m $104m 9.0% 6 Sep 30, 2024 \n 89 PMAR Innovator U.S. Equity Power Buffer ETF - Mar Buffer $0 $101m $101m 31.7% 7 Oct 31, 2025 \n 90 ISEP Innovator Intl Developed Power Buffer ETF - Sep Buffer $0 $101m $101m 24.7% 5 Oct 31, 2025 \n 91 DDTL Innovator Equity Dual Directional 10 Buffer ETF - Jul Buffer $0 $97.7m $97.7m 32.9% 4 Oct 31, 2025 \n 92 BAPR Innovator U.S. Equity Buffer ETF - Apr Buffer $0 $97.7m $97.7m 12.8% 5 Oct 31, 2025 \n 93 IQQQ ProShares Nasdaq-100 High Income ETF Income $90.2m $4.8m $95.0m 33.3% 7 May 31, 2026 \n 94 BJAN Innovator U.S. Equity Buffer ETF - Jan Buffer $0 $94.9m $94.9m 29.7% 5 Oct 31, 2025 \n 95 TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly Buffer $0 $93.5m $93.5m 46.2% 5 Oct 31, 2025 \n 96 UTEN F/m US Treasury 10 Year Note ETF Bonds $75.0m $18.0m $93.0m 16.7% 3 Aug 31, 2024 \n 97 IOCT Innovator Intl Developed Power Buffer ETF - Oct Buffer $0 $91.3m $91.3m 33.2% 5 Oct 31, 2025 \n 98 KHPI Kensington Hedged Premium Income ETF Income $77.4m $13.6m $91.0m 37.7% 3 Dec 31, 2025 \n 99 XBJA Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan Buffer $0 $91.0m $91.0m 18.6% 5 Oct 31, 2025 \n 100 UPSX Tradr 2X Long UPST Daily ETF Leverage $70.1m $20.4m $90.5m 48.5% 6 Mar 31, 2026 \n \n ETFs where Merrill Lynch, Pierce, Fenner and Smith was the only active AP\n In 3 ETFs, Merrill Lynch, Pierce, Fenner and Smith Incorporated was the one AP that created or redeemed shares in the period.\n ETFs where Merrill Lynch, Pierce, Fenner and Smith 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 RMCA Rockefeller California Municipal Bond ETF $19.9m $2.4m 1 Jul 31, 2025 \n 2 GLCR GlacierShares Nasdaq Iceland ETF $696k $0 1 Dec 31, 2025 \n 3 MZZ ProShares UltraShort MidCap400 $0 $207k 39 May 31, 2026 \n \n Merrill Lynch, Pierce, Fenner and Smith by category\n The ETFs Merrill Lynch, Pierce, Fenner and Smith Incorporated serves, by the category each is placed in, with what it created and redeemed in each.\n Merrill Lynch, Pierce, Fenner and Smith 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 5.9% 78 35 $4.9bn $4.0bn 0 \n 2 International stocks 25.5% 29 24 $35.0bn $2.9bn 1 \n 3 Sector stocks 0.1% 16 5 $134m $85.3m 0 \n 4 Bonds 2.2% 85 40 $3.0bn $357m 1 \n 5 Commodities 0.2% 1 1 $179m $79.9m 0 \n 6 Allocation 0.0% 1 1 $5.0m $0 0 \n 7 Buffer 3.4% 100 99 $0 $5.0bn 0 \n 8 Income 0.6% 15 15 $756m $95.0m 0 \n 9 Themes 0.7% 22 17 $496m $576m 0 \n 10 Leverage 61.1% 134 127 $41.4bn $49.5bn 1 \n 11 Crypto 0.2% 3 3 $122m $108m 0 \n 12 Alternatives 0.0% 4 2 $6.4m $25.1m 0 \n \n Questions people ask\n Is Merrill Lynch, Pierce, Fenner and Smith an ETF authorized participant (AP)? Yes. Merrill Lynch, Pierce, Fenner and Smith Incorporated is listed as an AP for 488 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026, and created or redeemed shares in 369 of them. Which ETFs does Merrill Lynch, Pierce, Fenner and Smith create and redeem the most? By dollars created and redeemed: TQQQ, $33.9bn; SQQQ, $18.8bn; VEA, $8.5bn; VXUS, $6.6bn; UPRO, $5.8bn. How much of an ETF\u2019s AP activity does Merrill Lynch, Pierce, Fenner and Smith handle? Across the 369 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.3% to 100.0%. It was the only active AP in 3 ETFs. 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 Merrill Lynch, Pierce, Fenner and Smith\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n Merrill Lynch, Pierce, Fenner and Smith Incorporated is identified by CRD 7691, SEC file number 8-7221, LEI 8NAV47T0Y26Q87Y0QP81. It is on the SEC\u2019s list of active broker-dealers dated Oct 1, 2026 as MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED. Funds filed its name 16 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, Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/ 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, Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/ APA ETFIQ. (Sep 23, 2026). Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/ Markdown [Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/)","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, Merrill Lynch, Pierce, Fenner and Smith Incorporated as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-pierce-fenner-and-smith/"}