{"url":"https://etfiq.com/trading/authorized-participants/mizuho-securities-usa/","section":"trading","title":"Mizuho Securities USA: ETF AP | ETFIQ","description":"Mizuho Securities USA LLC was an authorized participant (AP) for 2,314 US ETFs in Form N-CEN periods ending Aug 31, 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 Mizuho Securities USA an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"Yes. Mizuho Securities USA LLC is listed as an AP for 2,314 US ETFs in Form N-CEN periods ending Aug 31, 2024 to Jun 30, 2026, and created or redeemed shares in 189 of them."}},{"@type":"Question","name":"Which ETFs does Mizuho Securities USA create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: SPY, $31.6bn; VTI, $10.1bn; VGT, $5.9bn; VUG, $4.8bn; VOO, $3.1bn."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does Mizuho Securities USA handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 189 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 87.0%. It was the only active AP in 0 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 Mizuho Securities 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":"Mizuho Securities USA","item":"https://etfiq.com/trading/authorized-participants/mizuho-securities-usa/"}]},{"@type":"WebPage","name":"Mizuho Securities USA: ETF AP","description":"Mizuho Securities USA LLC was an authorized participant (AP) for 2,314 US ETFs in Form N-CEN periods ending Aug 31, 2024 to Jun 30, 2026. Facts only.","url":"https://etfiq.com/trading/authorized-participants/mizuho-securities-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":15103,"truncated":false,"content":"ETFIQ / Authorized participants / Mizuho Securities USA \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n Mizuho Securities USA LLC\n Mizuho Securities USA LLC was an authorized participant (AP) for 2,314 US ETFs in Form N-CEN periods ending Aug 31, 2024 to Jun 30, 2026. It created $37.0bn and redeemed $41.2bn of their shares. It was active in 189 of them.\n mizuhogroup.com \n Mizuho Securities USA LLC as an ETF authorized participant: the 100 funds it created and redeemed most in, of 189, ranked by what it created and redeemed, in Form N-CEN periods ending Aug 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 SPY SPDR S&P 500 ETF Trust U.S. stocks $13.8bn $17.8bn $31.6bn 1.5% 26 Dec 31, 2025 \n 2 VTI Vanguard Morningstar Total Stock Market ETF U.S. stocks $5.1bn $5.0bn $10.1bn 13.0% 15 Dec 31, 2025 \n 3 VGT Vanguard Information Tech ETF Sector stocks $3.0bn $3.0bn $5.9bn 22.1% 15 Aug 31, 2025 \n 4 VUG Vanguard Morningstar Growth ETF U.S. stocks $2.3bn $2.5bn $4.8bn 6.1% 14 Dec 31, 2025 \n 5 VOO Vanguard S&P 500 ETF U.S. stocks $1.6bn $1.6bn $3.1bn 0.5% 21 Dec 31, 2025 \n 6 VBR Vanguard Morningstar Small-Cap Value ETF U.S. stocks $1.5bn $1.5bn $3.1bn 22.1% 13 Dec 31, 2025 \n 7 FNDX Schwab Fundamental U.S. Large Company ETF U.S. stocks $1.2bn $1.2bn $2.4bn 34.5% 12 Feb 28, 2026 \n 8 FDVV Fidelity High Dividend ETF U.S. stocks $1.1bn $1.1bn $2.2bn 44.8% 8 Jul 31, 2025 \n 9 VB Vanguard Morningstar Small-Cap ETF U.S. stocks $986m $976m $2.0bn 7.9% 14 Dec 31, 2025 \n 10 TLT iShares 20+ Year Treasury Bond ETF Bonds $290m $1.2bn $1.5bn 1.3% 12 Feb 28, 2026 \n 11 FTC First Trust Large Cap Growth AlphaDEX Fund U.S. stocks $645m $640m $1.3bn 65.3% 6 Jul 31, 2025 \n 12 FEX First Trust Large Cap Core AlphaDEX Fund U.S. stocks $511m $509m $1.0bn 63.9% 4 Jul 31, 2025 \n 13 VYM Vanguard High Dividend Yield ETF U.S. stocks $416m $415m $831m 5.4% 10 Oct 31, 2025 \n 14 FTA First Trust Large Cap Value AlphaDEX Fund U.S. stocks $401m $400m $802m 60.0% 6 Jul 31, 2025 \n 15 TDIV First Trust NASDAQ Technology Dividend Index Fund Sector stocks $335m $333m $668m 34.0% 6 Sep 30, 2024 \n 16 MGK Vanguard Morningstar Mega Cap Growth ETF U.S. stocks $264m $264m $528m 4.7% 12 Sep 30, 2025 \n 17 VOX Vanguard Communication Services ETF Sector stocks $250m $251m $501m 15.7% 11 Aug 31, 2025 \n 18 VIG Vanguard Div Appreciation ETF U.S. stocks $185m $184m $369m 2.0% 12 Jan 31, 2026 \n 19 VV Vanguard Morningstar Large-Cap ETF U.S. stocks $173m $173m $346m 4.8% 11 Dec 31, 2025 \n 20 FVAL Fidelity Value Factor ETF U.S. stocks $162m $158m $320m 29.9% 7 Jul 31, 2025 \n 21 XRT State Street SPDR S&P Retail ETF Sector stocks $119m $198m $316m 1.2% 19 Jun 30, 2026 \n 22 FQAL Fidelity Quality Factor ETF U.S. stocks $159m $156m $315m 40.2% 7 Jul 31, 2025 \n 23 BLOK Amplify Blockchain Technology ETF Themes $207m $41.9m $248m 15.7% 7 Sep 30, 2024 \n 24 VCR Vanguard Consumer Discretion ETF Sector stocks $109m $109m $218m 11.8% 12 Aug 31, 2025 \n 25 FDLO Fidelity Low Volatility Factor ETF U.S. stocks $101m $99.9m $201m 24.1% 7 Jul 31, 2025 \n 26 FSMD Fidelity Small-Mid Multifactor ETF U.S. stocks $102m $98.4m $200m 13.0% 7 Jul 31, 2025 \n 27 FDRR Fidelity Dividend ETF for Rising Rates U.S. stocks $94.6m $93.2m $188m 87.0% 4 Jul 31, 2025 \n 28 XLV State Street Health Care Select Sector SPDR ETF Sector stocks $160m $0 $160m 0.3% 23 Sep 30, 2025 \n 29 IXC iShares Global Energy ETF Sector stocks $0 $142m $142m 8.4% 8 Mar 31, 2026 \n 30 FDMO Fidelity Momentum Factor ETF U.S. stocks $66.7m $64.2m $131m 17.1% 7 Jul 31, 2025 \n 31 COPX Global X Copper Miners ETF Themes $65.4m $61.6m $127m 3.9% 6 Oct 31, 2025 \n 32 FCPI Fidelity Stocks for Inflation ETF U.S. stocks $62.9m $61.0m $124m 48.1% 6 Jul 31, 2025 \n 33 KWEB KraneShares CSI China Internet ETF Themes $14.1m $103m $117m 2.2% 7 Mar 31, 2026 \n 34 XLU State Street Utilities Select Sector SPDR ETF Sector stocks $76.6m $36.7m $113m 0.4% 22 Sep 30, 2025 \n 35 FENI Fidelity Enhanced International ETF International stocks $105m $0 $105m 1.3% 8 Jun 30, 2026 \n 36 QUAL iShares MSCI USA Quality Factor ETF U.S. stocks $0 $91.7m $91.7m 0.4% 13 Jul 31, 2025 \n 37 XLI State Street Industrial Select Sector SPDR ETF Sector stocks $0 $84.0m $84.0m 0.2% 23 Sep 30, 2025 \n 38 ASHR Xtrackers Harvest CSI 300 China A-Shares ETF International stocks $33.2m $50.7m $83.9m 3.5% 7 May 31, 2026 \n 39 VIOO Vanguard S&P Small-Cap 600 ETF U.S. stocks $38.2m $38.9m $77.1m 6.3% 13 Aug 31, 2025 \n 40 FLRG Fidelity U.S. Multifactor ETF U.S. stocks $35.7m $34.8m $70.5m 31.2% 6 Jul 31, 2025 \n 41 ESGV Vanguard ESG U.S. Stock ETF U.S. stocks $34.8m $35.2m $70.1m 4.7% 10 Aug 31, 2025 \n 42 XLP State Street Consumer Staples Select Sector SPDR ETF Sector stocks $64.2m $0 $64.2m 0.1% 23 Sep 30, 2025 \n 43 FIVA Fidelity International Value Factor ETF International stocks $31.9m $26.6m $58.4m 17.9% 6 Oct 31, 2025 \n 44 USMV iShares MSCI USA Min Vol Factor ETF U.S. stocks $0 $53.3m $53.3m 0.4% 14 Jul 31, 2025 \n 45 VDC Vanguard Consumer Staples ETF Sector stocks $26.7m $26.2m $52.9m 2.1% 13 Aug 31, 2025 \n 46 URA Global X Uranium ETF Themes $43.7m $4.1m $47.8m 2.2% 5 Oct 31, 2025 \n 47 CGCV Capital Group Conservative Equity ETF U.S. stocks $31.0m $16.7m $47.7m 2.8% 12 May 31, 2026 \n 48 WCMI First Trust WCM International Equity ETF International stocks $46.5m $0 $46.5m 4.2% 8 Dec 31, 2025 \n 49 IXJ iShares Global Healthcare ETF Sector stocks $0 $45.7m $45.7m 2.7% 7 Mar 31, 2026 \n 50 CGMM Capital Group U.S. Small and Mid Cap ETF U.S. stocks $19.4m $19.7m $39.1m 1.2% 14 May 31, 2026 \n 51 AFSC abrdn Focused U.S. Small Cap Active ETF U.S. stocks $27.6m $10.6m $38.2m 18.8% 6 Oct 31, 2025 \n 52 XLB State Street Materials Select Sector SPDR ETF Sector stocks $13.6m $23.5m $37.1m 0.2% 20 Sep 30, 2025 \n 53 VIOG Vanguard S&P Small-Cap 600 Growth ETF U.S. stocks $17.9m $18.1m $36.0m 7.7% 9 Aug 31, 2025 \n 54 SHLD Global X Defense Tech ETF Themes $35.8m $0 $35.8m 0.8% 8 Nov 30, 2025 \n 55 REMX VanEck Rare Earth and Strategic Metals ETF Themes $33.9m $0 $33.9m 2.5% 7 Dec 31, 2025 \n 56 CGDV Capital Group Dividend Value ETF U.S. stocks $31.8m $0 $31.8m 0.1% 11 May 31, 2026 \n 57 VGK Vanguard FTSE Europe ETF International stocks $0 $31.6m $31.6m 0.4% 8 Oct 31, 2025 \n 58 JIRE JPMorgan International Research Enhanced Equity ETF International stocks $30.0m $0 $30.0m 0.7% 8 Oct 31, 2025 \n 59 GPZ VanEck Alternative Asset Manager ETF International stocks $29.6m $0 $29.6m 25.1% 8 Sep 30, 2025 \n 60 DFAE Dimensional Emerging Core Equity Market ETF International stocks $28.2m $0 $28.2m 2.7% 7 Oct 31, 2025 \n 61 DFEM Dimensional Emerging Markets Core Equity 2 ETF International stocks $26.0m $0 $26.0m 2.3% 8 Oct 31, 2025 \n 62 VHT Vanguard Health Care ETF Sector stocks $12.8m $12.7m $25.5m 0.8% 13 Aug 31, 2025 \n 63 DUSA Davis Select U.S. Equity ETF U.S. stocks $22.1m $3.3m $25.4m 8.4% 6 Oct 31, 2025 \n 64 QLTI GMO International Quality ETF International stocks $24.4m $0 $24.4m 11.0% 6 Feb 28, 2026 \n 65 RWO State Street SPDR Dow Jones Global Real Estate ETF Sector stocks $0 $23.6m $23.6m 10.9% 6 Sep 30, 2025 \n 66 IDEF iShares Defense Industrials and Tech Active ETF Themes $23.1m $0 $23.1m 0.6% 8 Apr 30, 2026 \n 67 CPTL Global X Morningstar Capital Allocation Leaders ETF U.S. stocks $11.1m $11.1m $22.2m 3.0% 9 Nov 30, 2025 \n 68 CGGR Capital Group Growth ETF U.S. stocks $21.7m $0 $21.7m 0.2% 13 May 31, 2026 \n 69 CGIC Capital Group International Core Equity ETF International stocks $19.7m $0 $19.7m 1.3% 9 May 31, 2026 \n 70 XLF State Street Financial Select Sector SPDR ETF Sector stocks $19.0m $0 $19.0m 0.0% 21 Sep 30, 2025 \n 71 FWD AB Disruptors ETF International stocks $18.7m $0 $18.7m 2.0% 7 Nov 30, 2025 \n 72 NLR VanEck Uranium and Nuclear ETF Themes $16.7m $1.9m $18.6m 0.7% 7 Dec 31, 2025 \n 73 FDEV Fidelity International Multifactor ETF International stocks $8.6m $8.7m $17.3m 9.1% 5 Oct 31, 2025 \n 74 JIVE JPMorgan International Value ETF International stocks $17.2m $0 $17.2m 2.6% 4 Oct 31, 2025 \n 75 AIA iShares Asia 50 ETF International stocks $16.4m $0 $16.4m 0.7% 8 Mar 31, 2026 \n 76 KXI iShares Global Consumer Staples ETF Sector stocks $16.4m $0 $16.4m 3.4% 7 Mar 31, 2026 \n 77 CGIE Capital Group International Equity ETF International stocks $16.1m $0 $16.1m 1.1% 9 May 31, 2026 \n 78 SOCL Global X Social Media ETF Themes $9.7m $6.4m $16.1m 29.7% 8 Oct 31, 2025 \n 79 JIG JPMorgan International Growth ETF International stocks $8.1m $8.0m $16.0m 8.7% 6 Oct 31, 2025 \n 80 DAX Global X DAX Germany ETF International stocks $9.8m $6.0m $15.8m 4.9% 7 Oct 31, 2025 \n 81 VOOV Vanguard S&P 500 Value ETF U.S. stocks $7.4m $7.6m $15.0m 0.5% 9 Aug 31, 2025 \n 82 BKGI BNY Mellon Global Infrastructure Income ETF Themes $14.2m $0 $14.2m 6.1% 7 Oct 31, 2025 \n 83 JGLO JPMorgan Global Select Equity ETF International stocks $14.0m $0 $14.0m 0.3% 7 Oct 31, 2025 \n 84 XAIX Xtrackers Artificial Intelligence and Big Data ETF Themes $14.0m $0 $14.0m 17.6% 6 May 31, 2026 \n 85 CGDG Capital Group Dividend Growers ETF International stocks $13.8m $0 $13.8m 0.3% 10 May 31, 2026 \n 86 IVOO Vanguard S&P Mid-Cap 400 ETF U.S. stocks $6.3m $6.4m $12.7m 1.0% 16 Aug 31, 2025 \n 87 BAI iShares A.I. Innovation and Tech Active ETF Themes $12.4m $0 $12.4m 0.1% 12 Apr 30, 2026 \n 88 ILOW AB International Low Volatility Equity ETF International stocks $12.3m $0 $12.3m 1.4% 7 Nov 30, 2025 \n 89 EWP iShares MSCI Spain ETF International stocks $12.3m $0 $12.3m 1.8% 9 Aug 31, 2025 \n 90 DAPP VanEck Digital Transformation ETF Themes $11.3m $0 $11.3m 2.2% 8 Sep 30, 2025 \n 91 DFEV Dimensional Emerging Markets Value ETF International stocks $10.8m $0 $10.8m 2.3% 7 Oct 31, 2025 \n 92 FDEM Fidelity Emerging Markets Multifactor ETF International stocks $5.2m $5.2m $10.5m 6.4% 6 Oct 31, 2025 \n 93 FPXI First Trust International Equity Opportunities ETF International stocks $0 $10.5m $10.5m 17.5% 3 Sep 30, 2024 \n 94 ILDR First Trust Innovation Leaders ETF Themes $7.6m $2.2m $9.8m 8.8% 7 Aug 31, 2025 \n 95 FGD First Trust Dow Jones Global Select Dividend Index Fund International stocks $0 $9.5m $9.5m 4.8% 6 Sep 30, 2024 \n 96 DTCR Global X Data Center & Digital Infrastructure ETF Themes $1.5m $7.8m $9.3m 1.8% 9 Nov 30, 2025 \n 97 CGBL Capital Group Core Balanced ETF Allocation $8.7m $0 $8.7m 0.3% 12 Dec 31, 2025 \n 98 COLO Global X MSCI Colombia ETF International stocks $8.7m $0 $8.7m 9.8% 6 Oct 31, 2025 \n 99 PIPE Invesco SteelPath MLP & Energy Infrastructure ETF Sector stocks $8.4m $0 $8.4m 12.9% 5 Oct 31, 2025 \n 100 CQQQ Invesco China Technology ETF International stocks $8.4m $0 $8.4m 0.3% 6 Oct 31, 2025 \n \n Mizuho Securities USA by category\n The ETFs Mizuho Securities USA LLC serves, by the category each is placed in, with what it created and redeemed in each.\n Mizuho Securities 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 85.1% 565 43 $31.3bn $35.3bn 0 \n 2 International stocks 1.1% 423 71 $654m $206m 0 \n 3 Sector stocks 10.8% 169 23 $4.2bn $4.3bn 0 \n 4 Bonds 1.9% 601 1 $290m $1.2bn 0 \n 5 Commodities 0.0% 14 0 $0 $0 0 \n 6 Allocation 0.0% 20 1 $8.7m $0 0 \n 7 Buffer 0.0% 104 0 $0 $0 0 \n 8 Income 0.0% 69 0 $0 $0 0 \n 9 Themes 1.1% 213 49 $566m $258m 0 \n 10 Leverage 0.0% 105 0 $0 $0 0 \n 11 Crypto 0.0% 2 0 $0 $0 0 \n 12 Alternatives 0.0% 29 1 $4.4m $2.2m 0 \n \n Questions people ask\n Is Mizuho Securities USA an ETF authorized participant (AP)? Yes. Mizuho Securities USA LLC is listed as an AP for 2,314 US ETFs in Form N-CEN periods ending Aug 31, 2024 to Jun 30, 2026, and created or redeemed shares in 189 of them. Which ETFs does Mizuho Securities USA create and redeem the most? By dollars created and redeemed: SPY, $31.6bn; VTI, $10.1bn; VGT, $5.9bn; VUG, $4.8bn; VOO, $3.1bn. How much of an ETF\u2019s AP activity does Mizuho Securities USA handle? Across the 189 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 87.0%. It was the only active AP in 0 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 Mizuho Securities USA\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n Mizuho Securities USA LLC is identified by CRD 19647, SEC file number 8-37710, LEI 7TK5RJIZDFROZCA6XF66. It is on the SEC\u2019s list of active broker-dealers dated Oct 1, 2026 as MIZUHO SECURITIES USA LLC. 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, Mizuho Securities USA LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/mizuho-securities-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, Mizuho Securities USA LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/mizuho-securities-usa/ APA ETFIQ. (Sep 23, 2026). Mizuho Securities USA LLC as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/mizuho-securities-usa/ Markdown [Mizuho Securities USA LLC as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/mizuho-securities-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, Mizuho Securities USA LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/mizuho-securities-usa/"}