Experience the Difference: ETFs

ETFs are rapidly displacing mutual funds, particularly in asset allocation strategies designed around target dates or risk tolerances. So many success factors in today’s trading landscape – performance, operational efficiency, tax efficiency, intraday trading, standard settlement – all favor ETFs.

The question: what is your firm going to do about it?

ETF Trading Essentials:
Virtual Panel

CAPIS hosted a panel of experts from Goldman Sachs and First Citizens for an in-depth discussion all about the ins and outs of ETF trading. Learn about key strategies, dynamics, and best practices for ETF trading and how to deploy them as part of your investment strategy.

ETF Trading: The Basics

Effective ETF trading starts with a clear understanding of the potential costs and possible strategies. Our team of experienced trading experts will sit down with you to understand your challenges, your goals, and the ideal approach to meet them.


Spread Costs – The difference between the bid and ask

Risk Premium – Quoted discount or premium to buy or sell a position

Opportunity Cost – Performance impact related to market exposure imbalances


Open Market Participation – Best for highly liquid ETFs

Principal Bids/Offers – Best for illiquid ETFs

Combination Strategy – Best for rebalancing programs and remaining dollar-neutral

Do ETFs Trade More Like Stocks or Bonds?

Well, both. Small ETF orders tend to trade like listed stocks, executed in seconds at or near the NBBO. Larger ETF orders trade like bonds, so putting market makers or authorized participants (APs) in competition with one another is key to finding the best price.

Our team emphasizes trading excellence, transparency, and trust in everything we do. We’re committed to meeting your trading needs – in the ETF market and beyond.

Looking for definitions, examples, and more? Check out how we handled a recent trade in an iShares commodity ETF.

Experience the Difference: Start a Relationship Today

Trading excellence defines everything we do – and CAPIS can support your every ETF trading need. We maintain multiple AP relationships with tier-1 pricing and provide detailed post-trade analysis based on implementation shortfall statistics. Join some of the industry’s top institutional investors and experience the difference for yourself.

Stay Informed

Stay informed by subscribing to information that matters to you.
We’ll email you when we post new content you want to see.


This field is for validation purposes and should be left unchanged.