# ETF Liquidity and Bid-Ask Spreads: Every Fund > Of 1,462 ETFs with a cost figure, 130 cost more than 0.25% one way at $10,000, as of Oct 22, 2026. No fund is recommended. Data as of Oct 22, 2026. Rebuilt every trading night. As of Oct 22, 2026. Rebuilt every trading night. ## ETF trading costs and liquidity Of 1,462 ETFs with a cost figure, 130 cost more than 0.25% one way at $10,000, as of Oct 22, 2026. See what it costs to buy or sell any ETF at your size, and how far its price sits from its value. Screen volume is not liquidity: what a fund holds, and who creates its shares, matter more. ### Cost-to-trade checker Ticker Order size $1,000 $10,000 $100,000 $1,000,000 What will it cost? ### Premium watch The funds furthest from their value at the Oct 22, 2026 close, each beyond the range it held on 95% of its days (34 funds in all). - MBND State Street Nuveen Municipal Bond ETF: −1.14% at the close, against ±0.91% on 95% of its days. - ACQQ ProShares Nasdaq-100 Autocallable Income ETF: +1.07% at the close, against ±0.34% on 95% of its days. - HYD VanEck High Yield Muni ETF: +0.88% at the close, against ±0.85% on 95% of its days. - SMB VanEck Short Muni ETF: +0.87% at the close, against ±0.29% on 95% of its days. - SHYD VanEck Short High Yield Muni ETF: +0.85% at the close, against ±0.72% on 95% of its days. - MYMG State Street My2027 Municipal Bond ETF: +0.73% at the close, against ±0.61% on 95% of its days. ### The five layers - The screen: last price, volume, the bid and the ask. Free sites stop here. - The real cost: the typical spread and the premium or discount to value. - Who is trading: buyers against sellers, retail flow, large trades, the closing auction (with trade data). - The plumbing: what the holdings can absorb in a day, and how many dealers create and redeem. - On a bad day: how the spread and premium held on the market’s worst days. ### The IQ Liquidity Score across all funds 181 funds scored, on the same anchors for every fund. The median is 75, Liquid; 122 score Liquid or better. - Hard to trade (0 to 34): 1 funds - Thin (35 to 54): 10 funds - Liquid with care (55 to 69): 48 funds - Liquid (70 to 84): 69 funds - Trades like a giant (85 to 100): 53 funds ### Flags - One dealer: 672 funds - Small but liquid: 53 funds - Price can drift from value: 19 funds - Big but costly: 1 funds ### Rankings - Most liquid ETFs , 100 funds - Most liquid small ETFs , 53 funds - Low-volume ETFs with deep liquidity , 6 funds - ETFs whose full cost to own is far above the fee , 8 funds - Widest ETF premiums and discounts, last 30 days , 100 funds - ETFs with the most days more than 1% from NAV , 100 funds - ETFs with one active authorized participant , 100 funds - ETFs with the most authorized participants , 100 funds - ETFs with the tightest bid-ask spreads , 100 funds - Cheapest stock ETFs to trade , 100 funds - Cheapest bond ETFs to trade , 100 funds - Cheapest commodity ETFs to trade , 25 funds - Cheapest buffer ETFs to trade , 100 funds - Cheapest income ETFs to trade , 100 funds - Cheapest thematic ETFs to trade , 100 funds - Cheapest leveraged and inverse ETFs to trade , 100 funds - Cheapest alternatives ETFs to trade , 17 funds ### Guides - Limit orders vs market orders for ETFs - Why low volume does not mean illiquid - Premiums and discounts to NAV - International ETFs when the home market is closed - Bond ETFs in a sell-off - Stop orders and Aug 24, 2015 - Leveraged and inverse ETFs: trading costs on top of decay - Trading a new ETF in its first weeks - Ex-dividend days and income ETFs - Buffer ETFs: reset day and buying mid-period - How to read the IQ Liquidity Score ### Questions people ask Is a low-volume ETF illiquid? Not by itself. What matters is whether its holdings can absorb your order and whether a dealer will create or redeem shares against it. 53 ETFs under $100m score Liquid or better as of Oct 22, 2026. What is a good bid-ask spread for an ETF? Half the spread is what one way costs before any premium, and a round trip pays it twice. Many large funds quote a cent or less; 130 of 1,462 ETFs cost more than 0.25% one way at $10,000 as of Oct 22, 2026. What does an ETF’s premium or discount to NAV mean? It is how far the price sits above or below the value of what the fund holds. A buyer at a premium pays more than the holdings are worth; a seller at a discount gets less. Should I use a limit order or a market order for an ETF? A limit at the midpoint plus half the spread to buy, or minus it to sell, protects you in a thin fund and costs nothing in a liquid one. Every fund’s trading page prints its own figure. What is the IQ Liquidity Score? A 0 to 100 measure of trading conditions on a fixed scale, from six components. Of 181 ETFs scored as of Oct 22, 2026, the median is 75, Liquid. ### Where to next The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, ETF trading costs and liquidity, data as of Oct 22, 2026. https://etfiq.com/trading/ Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms. HTML: https://etfiq.com/trading/