# Mizuho Securities USA: ETF AP

> 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.

Data as of Sep 23, 2026. Rebuilt every trading night.

As of Sep 23, 2026 . From each ETF’s latest Form N-CEN.

## Mizuho Securities USA LLC

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.

mizuhogroup.com

| # | 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 | $13.8bn | $17.8bn | $31.6bn | 1.5% | 26 | Dec 31, 2025 |
| 2 | VTI | Vanguard Morningstar Total Stock Market ETF | U.S. stocks | $5.1bn | $5.0bn | $10.1bn | 13.0% | 15 | Dec 31, 2025 |
| 3 | VGT | Vanguard Information Tech ETF | Sector stocks | $3.0bn | $3.0bn | $5.9bn | 22.1% | 15 | Aug 31, 2025 |
| 4 | VUG | Vanguard Morningstar Growth ETF | U.S. stocks | $2.3bn | $2.5bn | $4.8bn | 6.1% | 14 | Dec 31, 2025 |
| 5 | VOO | Vanguard S&P 500 ETF | U.S. stocks | $1.6bn | $1.6bn | $3.1bn | 0.5% | 21 | Dec 31, 2025 |
| 6 | VBR | Vanguard Morningstar Small-Cap Value ETF | U.S. stocks | $1.5bn | $1.5bn | $3.1bn | 22.1% | 13 | Dec 31, 2025 |
| 7 | FNDX | Schwab Fundamental U.S. Large Company ETF | U.S. stocks | $1.2bn | $1.2bn | $2.4bn | 34.5% | 12 | Feb 28, 2026 |
| 8 | FDVV | Fidelity High Dividend ETF | U.S. stocks | $1.1bn | $1.1bn | $2.2bn | 44.8% | 8 | Jul 31, 2025 |
| 9 | VB | Vanguard Morningstar Small-Cap ETF | U.S. stocks | $986m | $976m | $2.0bn | 7.9% | 14 | Dec 31, 2025 |
| 10 | TLT | iShares 20+ Year Treasury Bond ETF | Bonds | $290m | $1.2bn | $1.5bn | 1.3% | 12 | Feb 28, 2026 |
| 11 | FTC | First Trust Large Cap Growth AlphaDEX Fund | U.S. stocks | $645m | $640m | $1.3bn | 65.3% | 6 | Jul 31, 2025 |
| 12 | FEX | First Trust Large Cap Core AlphaDEX Fund | U.S. stocks | $511m | $509m | $1.0bn | 63.9% | 4 | Jul 31, 2025 |
| 13 | VYM | Vanguard High Dividend Yield ETF | U.S. stocks | $416m | $415m | $831m | 5.4% | 10 | Oct 31, 2025 |
| 14 | FTA | First Trust Large Cap Value AlphaDEX Fund | U.S. stocks | $401m | $400m | $802m | 60.0% | 6 | Jul 31, 2025 |
| 15 | TDIV | First Trust NASDAQ Technology Dividend Index Fund | Sector stocks | $335m | $333m | $668m | 34.0% | 6 | Sep 30, 2024 |
| 16 | MGK | Vanguard Morningstar Mega Cap Growth ETF | U.S. stocks | $264m | $264m | $528m | 4.7% | 12 | Sep 30, 2025 |
| 17 | VOX | Vanguard Communication Services ETF | Sector stocks | $250m | $251m | $501m | 15.7% | 11 | Aug 31, 2025 |
| 18 | VIG | Vanguard Div Appreciation ETF | U.S. stocks | $185m | $184m | $369m | 2.0% | 12 | Jan 31, 2026 |
| 19 | VV | Vanguard Morningstar Large-Cap ETF | U.S. stocks | $173m | $173m | $346m | 4.8% | 11 | Dec 31, 2025 |
| 20 | FVAL | Fidelity Value Factor ETF | U.S. stocks | $162m | $158m | $320m | 29.9% | 7 | Jul 31, 2025 |
| 21 | XRT | State Street SPDR S&P Retail ETF | Sector stocks | $119m | $198m | $316m | 1.2% | 19 | Jun 30, 2026 |
| 22 | FQAL | Fidelity Quality Factor ETF | U.S. stocks | $159m | $156m | $315m | 40.2% | 7 | Jul 31, 2025 |
| 23 | BLOK | Amplify Blockchain Technology ETF | Themes | $207m | $41.9m | $248m | 15.7% | 7 | Sep 30, 2024 |
| 24 | VCR | Vanguard Consumer Discretion ETF | Sector stocks | $109m | $109m | $218m | 11.8% | 12 | Aug 31, 2025 |
| 25 | FDLO | Fidelity Low Volatility Factor ETF | U.S. stocks | $101m | $99.9m | $201m | 24.1% | 7 | Jul 31, 2025 |
| 26 | FSMD | Fidelity Small-Mid Multifactor ETF | U.S. stocks | $102m | $98.4m | $200m | 13.0% | 7 | Jul 31, 2025 |
| 27 | FDRR | Fidelity Dividend ETF for Rising Rates | U.S. stocks | $94.6m | $93.2m | $188m | 87.0% | 4 | Jul 31, 2025 |
| 28 | XLV | State Street Health Care Select Sector SPDR ETF | Sector stocks | $160m | $0 | $160m | 0.3% | 23 | Sep 30, 2025 |
| 29 | IXC | iShares Global Energy ETF | Sector stocks | $0 | $142m | $142m | 8.4% | 8 | Mar 31, 2026 |
| 30 | FDMO | Fidelity Momentum Factor ETF | U.S. stocks | $66.7m | $64.2m | $131m | 17.1% | 7 | Jul 31, 2025 |
| 31 | COPX | Global X Copper Miners ETF | Themes | $65.4m | $61.6m | $127m | 3.9% | 6 | Oct 31, 2025 |
| 32 | FCPI | Fidelity Stocks for Inflation ETF | U.S. stocks | $62.9m | $61.0m | $124m | 48.1% | 6 | Jul 31, 2025 |
| 33 | KWEB | KraneShares CSI China Internet ETF | Themes | $14.1m | $103m | $117m | 2.2% | 7 | Mar 31, 2026 |
| 34 | XLU | State Street Utilities Select Sector SPDR ETF | Sector stocks | $76.6m | $36.7m | $113m | 0.4% | 22 | Sep 30, 2025 |
| 35 | FENI | Fidelity Enhanced International ETF | International stocks | $105m | $0 | $105m | 1.3% | 8 | Jun 30, 2026 |
| 36 | QUAL | iShares MSCI USA Quality Factor ETF | U.S. stocks | $0 | $91.7m | $91.7m | 0.4% | 13 | Jul 31, 2025 |
| 37 | XLI | State Street Industrial Select Sector SPDR ETF | Sector stocks | $0 | $84.0m | $84.0m | 0.2% | 23 | Sep 30, 2025 |
| 38 | ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | International stocks | $33.2m | $50.7m | $83.9m | 3.5% | 7 | May 31, 2026 |
| 39 | VIOO | Vanguard S&P Small-Cap 600 ETF | U.S. stocks | $38.2m | $38.9m | $77.1m | 6.3% | 13 | Aug 31, 2025 |
| 40 | FLRG | Fidelity U.S. Multifactor ETF | U.S. stocks | $35.7m | $34.8m | $70.5m | 31.2% | 6 | Jul 31, 2025 |
| 41 | ESGV | Vanguard ESG U.S. Stock ETF | U.S. stocks | $34.8m | $35.2m | $70.1m | 4.7% | 10 | Aug 31, 2025 |
| 42 | XLP | State Street Consumer Staples Select Sector SPDR ETF | Sector stocks | $64.2m | $0 | $64.2m | 0.1% | 23 | Sep 30, 2025 |
| 43 | FIVA | Fidelity International Value Factor ETF | International stocks | $31.9m | $26.6m | $58.4m | 17.9% | 6 | Oct 31, 2025 |
| 44 | USMV | iShares MSCI USA Min Vol Factor ETF | U.S. stocks | $0 | $53.3m | $53.3m | 0.4% | 14 | Jul 31, 2025 |
| 45 | VDC | Vanguard Consumer Staples ETF | Sector stocks | $26.7m | $26.2m | $52.9m | 2.1% | 13 | Aug 31, 2025 |
| 46 | URA | Global X Uranium ETF | Themes | $43.7m | $4.1m | $47.8m | 2.2% | 5 | Oct 31, 2025 |
| 47 | CGCV | Capital Group Conservative Equity ETF | U.S. stocks | $31.0m | $16.7m | $47.7m | 2.8% | 12 | May 31, 2026 |
| 48 | WCMI | First Trust WCM International Equity ETF | International stocks | $46.5m | $0 | $46.5m | 4.2% | 8 | Dec 31, 2025 |
| 49 | IXJ | iShares Global Healthcare ETF | Sector stocks | $0 | $45.7m | $45.7m | 2.7% | 7 | Mar 31, 2026 |
| 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 |
| 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 |
| 52 | XLB | State Street Materials Select Sector SPDR ETF | Sector stocks | $13.6m | $23.5m | $37.1m | 0.2% | 20 | Sep 30, 2025 |
| 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 |
| 54 | SHLD | Global X Defense Tech ETF | Themes | $35.8m | $0 | $35.8m | 0.8% | 8 | Nov 30, 2025 |
| 55 | REMX | VanEck Rare Earth and Strategic Metals ETF | Themes | $33.9m | $0 | $33.9m | 2.5% | 7 | Dec 31, 2025 |
| 56 | CGDV | Capital Group Dividend Value ETF | U.S. stocks | $31.8m | $0 | $31.8m | 0.1% | 11 | May 31, 2026 |
| 57 | VGK | Vanguard FTSE Europe ETF | International stocks | $0 | $31.6m | $31.6m | 0.4% | 8 | Oct 31, 2025 |
| 58 | JIRE | JPMorgan International Research Enhanced Equity ETF | International stocks | $30.0m | $0 | $30.0m | 0.7% | 8 | Oct 31, 2025 |
| 59 | GPZ | VanEck Alternative Asset Manager ETF | International stocks | $29.6m | $0 | $29.6m | 25.1% | 8 | Sep 30, 2025 |
| 60 | DFAE | Dimensional Emerging Core Equity Market ETF | International stocks | $28.2m | $0 | $28.2m | 2.7% | 7 | Oct 31, 2025 |
| 61 | DFEM | Dimensional Emerging Markets Core Equity 2 ETF | International stocks | $26.0m | $0 | $26.0m | 2.3% | 8 | Oct 31, 2025 |
| 62 | VHT | Vanguard Health Care ETF | Sector stocks | $12.8m | $12.7m | $25.5m | 0.8% | 13 | Aug 31, 2025 |
| 63 | DUSA | Davis Select U.S. Equity ETF | U.S. stocks | $22.1m | $3.3m | $25.4m | 8.4% | 6 | Oct 31, 2025 |
| 64 | QLTI | GMO International Quality ETF | International stocks | $24.4m | $0 | $24.4m | 11.0% | 6 | Feb 28, 2026 |
| 65 | RWO | State Street SPDR Dow Jones Global Real Estate ETF | Sector stocks | $0 | $23.6m | $23.6m | 10.9% | 6 | Sep 30, 2025 |
| 66 | IDEF | iShares Defense Industrials and Tech Active ETF | Themes | $23.1m | $0 | $23.1m | 0.6% | 8 | Apr 30, 2026 |
| 67 | CPTL | Global X Morningstar Capital Allocation Leaders ETF | U.S. stocks | $11.1m | $11.1m | $22.2m | 3.0% | 9 | Nov 30, 2025 |
| 68 | CGGR | Capital Group Growth ETF | U.S. stocks | $21.7m | $0 | $21.7m | 0.2% | 13 | May 31, 2026 |
| 69 | CGIC | Capital Group International Core Equity ETF | International stocks | $19.7m | $0 | $19.7m | 1.3% | 9 | May 31, 2026 |
| 70 | XLF | State Street Financial Select Sector SPDR ETF | Sector stocks | $19.0m | $0 | $19.0m | 0.0% | 21 | Sep 30, 2025 |
| 71 | FWD | AB Disruptors ETF | International stocks | $18.7m | $0 | $18.7m | 2.0% | 7 | Nov 30, 2025 |
| 72 | NLR | VanEck Uranium and Nuclear ETF | Themes | $16.7m | $1.9m | $18.6m | 0.7% | 7 | Dec 31, 2025 |
| 73 | FDEV | Fidelity International Multifactor ETF | International stocks | $8.6m | $8.7m | $17.3m | 9.1% | 5 | Oct 31, 2025 |
| 74 | JIVE | JPMorgan International Value ETF | International stocks | $17.2m | $0 | $17.2m | 2.6% | 4 | Oct 31, 2025 |
| 75 | AIA | iShares Asia 50 ETF | International stocks | $16.4m | $0 | $16.4m | 0.7% | 8 | Mar 31, 2026 |
| 76 | KXI | iShares Global Consumer Staples ETF | Sector stocks | $16.4m | $0 | $16.4m | 3.4% | 7 | Mar 31, 2026 |
| 77 | CGIE | Capital Group International Equity ETF | International stocks | $16.1m | $0 | $16.1m | 1.1% | 9 | May 31, 2026 |
| 78 | SOCL | Global X Social Media ETF | Themes | $9.7m | $6.4m | $16.1m | 29.7% | 8 | Oct 31, 2025 |
| 79 | JIG | JPMorgan International Growth ETF | International stocks | $8.1m | $8.0m | $16.0m | 8.7% | 6 | Oct 31, 2025 |
| 80 | DAX | Global X DAX Germany ETF | International stocks | $9.8m | $6.0m | $15.8m | 4.9% | 7 | Oct 31, 2025 |
| 81 | VOOV | Vanguard S&P 500 Value ETF | U.S. stocks | $7.4m | $7.6m | $15.0m | 0.5% | 9 | Aug 31, 2025 |
| 82 | BKGI | BNY Mellon Global Infrastructure Income ETF | Themes | $14.2m | $0 | $14.2m | 6.1% | 7 | Oct 31, 2025 |
| 83 | JGLO | JPMorgan Global Select Equity ETF | International stocks | $14.0m | $0 | $14.0m | 0.3% | 7 | Oct 31, 2025 |
| 84 | XAIX | Xtrackers Artificial Intelligence and Big Data ETF | Themes | $14.0m | $0 | $14.0m | 17.6% | 6 | May 31, 2026 |
| 85 | CGDG | Capital Group Dividend Growers ETF | International stocks | $13.8m | $0 | $13.8m | 0.3% | 10 | May 31, 2026 |
| 86 | IVOO | Vanguard S&P Mid-Cap 400 ETF | U.S. stocks | $6.3m | $6.4m | $12.7m | 1.0% | 16 | Aug 31, 2025 |
| 87 | BAI | iShares A.I. Innovation and Tech Active ETF | Themes | $12.4m | $0 | $12.4m | 0.1% | 12 | Apr 30, 2026 |
| 88 | ILOW | AB International Low Volatility Equity ETF | International stocks | $12.3m | $0 | $12.3m | 1.4% | 7 | Nov 30, 2025 |
| 89 | EWP | iShares MSCI Spain ETF | International stocks | $12.3m | $0 | $12.3m | 1.8% | 9 | Aug 31, 2025 |
| 90 | DAPP | VanEck Digital Transformation ETF | Themes | $11.3m | $0 | $11.3m | 2.2% | 8 | Sep 30, 2025 |
| 91 | DFEV | Dimensional Emerging Markets Value ETF | International stocks | $10.8m | $0 | $10.8m | 2.3% | 7 | Oct 31, 2025 |
| 92 | FDEM | Fidelity Emerging Markets Multifactor ETF | International stocks | $5.2m | $5.2m | $10.5m | 6.4% | 6 | Oct 31, 2025 |
| 93 | FPXI | First Trust International Equity Opportunities ETF | International stocks | $0 | $10.5m | $10.5m | 17.5% | 3 | Sep 30, 2024 |
| 94 | ILDR | First Trust Innovation Leaders ETF | Themes | $7.6m | $2.2m | $9.8m | 8.8% | 7 | Aug 31, 2025 |
| 95 | FGD | First Trust Dow Jones Global Select Dividend Index Fund | International stocks | $0 | $9.5m | $9.5m | 4.8% | 6 | Sep 30, 2024 |
| 96 | DTCR | Global X Data Center & Digital Infrastructure ETF | Themes | $1.5m | $7.8m | $9.3m | 1.8% | 9 | Nov 30, 2025 |
| 97 | CGBL | Capital Group Core Balanced ETF | Allocation | $8.7m | $0 | $8.7m | 0.3% | 12 | Dec 31, 2025 |
| 98 | COLO | Global X MSCI Colombia ETF | International stocks | $8.7m | $0 | $8.7m | 9.8% | 6 | Oct 31, 2025 |
| 99 | PIPE | Invesco SteelPath MLP & Energy Infrastructure ETF | Sector stocks | $8.4m | $0 | $8.4m | 12.9% | 5 | Oct 31, 2025 |
| 100 | CQQQ | Invesco China Technology ETF | International stocks | $8.4m | $0 | $8.4m | 0.3% | 6 | Oct 31, 2025 |

### Mizuho Securities USA by category

The ETFs Mizuho Securities USA LLC 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 | 85.1% | 565 | 43 | $31.3bn | $35.3bn | 0 |
| 2 | International stocks | 1.1% | 423 | 71 | $654m | $206m | 0 |
| 3 | Sector stocks | 10.8% | 169 | 23 | $4.2bn | $4.3bn | 0 |
| 4 | Bonds | 1.9% | 601 | 1 | $290m | $1.2bn | 0 |
| 5 | Commodities | 0.0% | 14 | 0 | $0 | $0 | 0 |
| 6 | Allocation | 0.0% | 20 | 1 | $8.7m | $0 | 0 |
| 7 | Buffer | 0.0% | 104 | 0 | $0 | $0 | 0 |
| 8 | Income | 0.0% | 69 | 0 | $0 | $0 | 0 |
| 9 | Themes | 1.1% | 213 | 49 | $566m | $258m | 0 |
| 10 | Leverage | 0.0% | 105 | 0 | $0 | $0 | 0 |
| 11 | Crypto | 0.0% | 2 | 0 | $0 | $0 | 0 |
| 12 | Alternatives | 0.0% | 29 | 1 | $4.4m | $2.2m | 0 |

### Questions people ask

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’s AP activity does Mizuho Securities USA handle? Across the 189 funds it was active in, its share of each fund’s 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’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Mizuho Securities USA’s CRD, SEC file number and LEI, never by the name as typed.

### Method

Mizuho Securities USA LLC is identified by CRD 19647, SEC file number 8-37710, LEI 7TK5RJIZDFROZCA6XF66. It is on the SEC’s 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’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. 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.

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### Where these figures came from

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. ETFIQ is an independent publisher, not an adviser. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: 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/
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