This post was originally published on May 16th, 2007. It has been slightly modified from a previous version of the site.
Dollar liquidity is simply the number of dollars traded on an asset (i.e. execution price times order size). This property is an important measure of liquidity for asset managers who must determine where best to invest a fixed amount of capital. Though many funds may represent attractive trends or impressive returns, there simply are too few shares available at a given price at a given time to fully purchase your desired allocation. This constraint can be mitigated by well-timed purchases or purchases in staggered lots, but this ignores the other end of the transaction – the sale.
Given the current anxiety level, this dollar liquidity is more important than ever. Though stop loss orders are a great safety net, it would be dangerous to forget that market makers cannot always guarantee execution at the specified limit in all market conditions, especially given large order sizes. The best way to reduce this risk is to invest in assets that have much higher levels of dollar liquidities.
The following is a list of all ETFs and CEFs that have traded at least 1 billion USD so far this year based on actual close and volume data. All dollar figures are quoted in millions.
| Symbol | Day | Week | Month | YTD | Day $ | Week $ | Month $ | YTD $ | MA 20 Price | MA YTD Price | Week SPY Corr |
| SPY | 0.03% | -0.12% | 2.37% | 6.93% | 27204 | 111129 | 332858 | 1257923 | 0.79% | 4.60% | 100.00% |
| QQQQ | -0.77% | -1.35% | 2.08% | 6.69% | 8272 | 36484 | 102550 | 487329 | -0.07% | 3.71% | 73.80% |
| IWM | -0.80% | -1.60% | -1.53% | 3.79% | 9332 | 37811 | 108001 | 417929 | -1.31% | 1.49% | 56.18% |
| OIH | 0.17% | 1.49% | 5.60% | 22.53% | 1550 | 9742 | 32231 | 136593 | 3.15% | 13.73% | 68.39% |
| XLE | 0.34% | 0.96% | 3.79% | 16.07% | 1051 | 7276 | 24952 | 128974 | 2.25% | 10.24% | 70.11% |
| DIA | 0.30% | 0.75% | 5.08% | 8.35% | 2883 | 10188 | 30492 | 109297 | 2.13% | 6.54% | 64.87% |
| EEM | 0.12% | 0.76% | 0.99% | 8.43% | 1140 | 6776 | 19461 | 97198 | 0.96% | 7.09% | 86.51% |
| QID | 1.75% | 2.46% | -3.18% | -9.85% | 1190 | 4931 | 14153 | 47180 | 0.49% | -5.70% | -72.34% |
| EFA | 0.18% | 0.02% | 0.65% | 8.86% | 513 | 3276 | 12239 | 45820 | 0.38% | 5.37% | 99.10% |
| XLF | -0.24% | -0.56% | 2.52% | 1.93% | 616 | 3427 | 10244 | 42275 | 0.43% | 2.55% | 91.43% |
| MDY | -0.37% | -0.28% | 1.34% | 10.29% | 686 | 3236 | 10931 | 42228 | 0.35% | 4.76% | 73.68% |
| SMH | -1.26% | 0.81% | 8.77% | 12.49% | 602 | 2907 | 10705 | 41832 | 1.67% | 8.20% | 44.32% |
| GLD | 0.39% | -1.97% | -2.15% | 6.84% | 171 | 1451 | 5385 | 31316 | -1.31% | 1.77% | 65.50% |
| RTH | -0.73% | -1.36% | -1.69% | 2.49% | 579 | 3042 | 8471 | 30825 | -1.64% | -0.11% | 32.22% |
| EWZ | 1.47% | 2.17% | 5.20% | 19.96% | 571 | 3016 | 7959 | 29952 | 3.53% | 14.31% | 73.20% |
| IYR | -1.35% | -1.14% | -3.43% | 1.18% | 315 | 1536 | 5155 | 28462 | -2.33% | -3.23% | 37.45% |
| EWJ | -0.83% | -0.62% | -1.71% | 1.27% | 193 | 1988 | 5671 | 25135 | -0.68% | -0.83% | 64.96% |
| FXI | -0.34% | 3.51% | 1.89% | -1.98% | 297 | 2630 | 5575 | 21805 | 3.56% | 8.14% | 49.74% |
| USO | 0.89% | 0.72% | -2.59% | -0.83% | 103 | 742 | 2878 | 17733 | -1.38% | -0.33% | 10.57% |
| IVV | -0.06% | -0.15% | 2.35% | 6.43% | 162 | 983 | 3289 | 17092 | 0.74% | 4.26% | 99.69% |
| IWO | -0.78% | -1.77% | -1.37% | 5.22% | 146 | 887 | 3147 | 15665 | -1.34% | 2.06% | 63.77% |
| XLB | 0.63% | 0.15% | 2.51% | 15.74% | 143 | 1139 | 2865 | 15384 | 1.82% | 6.75% | 91.31% |
| EWW | 0.15% | 0.87% | 2.51% | 12.77% | 169 | 1083 | 3394 | 15061 | 1.91% | 8.56% | 71.23% |
| XLU | 0.54% | 0.47% | 3.52% | 16.33% | 217 | 846 | 2738 | 12869 | 1.38% | 9.33% | 64.34% |
| IWN | -0.94% | -1.77% | -1.80% | 2.41% | 189 | 805 | 2538 | 12548 | -1.34% | 0.89% | 56.79% |
| IMB | -0.32% | -0.25% | 6.79% | -28.70% | 64 | 334 | 1358 | 9435 | 1.72% | -6.54% | 13.15% |
| XLI | 0.26% | 0.16% | 4.87% | 8.45% | 114 | 567 | 1922 | 8507 | 1.74% | 5.67% | 89.77% |
| IBB | -0.74% | -3.55% | -1.22% | 2.42% | 159 | 623 | 1801 | 8376 | -2.83% | 0.71% | 64.06% |
| XHB | -0.59% | -1.63% | 0.06% | -7.17% | 99 | 472 | 2095 | 8308 | -2.06% | -4.53% | 62.56% |
| SDS | 0.30% | 0.94% | -3.47% | -8.92% | 241 | 876 | 2567 | 8274 | -0.84% | -6.72% | -95.79% |
| TLT | -0.03% | -0.80% | 0.18% | 0.25% | 34 | 316 | 1229 | 7632 | -0.31% | 0.17% | -20.81% |
| IWD | 0.17% | 0.14% | 2.60% | 7.31% | 103 | 395 | 1381 | 7619 | 1.08% | 4.92% | 97.26% |
| QLD | -1.44% | -2.35% | 3.67% | 10.28% | 125 | 639 | 1785 | 7408 | -0.41% | 5.94% | 70.96% |
| IWF | -0.36% | -0.73% | 1.59% | 6.80% | 67 | 422 | 1572 | 7355 | 0.22% | 3.88% | 86.99% |
| RKH | 0.20% | -0.75% | 1.07% | 0.69% | 120 | 572 | 1851 | 7278 | -0.21% | 0.92% | 70.92% |
| IJR | -0.48% | -1.24% | -0.07% | 6.45% | 110 | 443 | 1768 | 6986 | -0.56% | 3.05% | 59.78% |
| OEF | -0.07% | -0.23% | 1.89% | 4.66% | 104 | 398 | 1801 | 6046 | 0.78% | 3.95% | 94.13% |
| EWT | -0.28% | -1.88% | 0.00% | -4.14% | 45 | 389 | 1238 | 5966 | -0.41% | -0.39% | 63.93% |
| XLV | -0.11% | -1.28% | 0.81% | 8.36% | 83 | 356 | 1331 | 5942 | -0.33% | 4.63% | 69.32% |
| IYT | 0.09% | -1.81% | 1.01% | 10.32% | 41 | 416 | 1380 | 5756 | -0.39% | 3.86% | 52.63% |
| SLV | 0.56% | -2.07% | -5.17% | 4.50% | 30 | 267 | 1153 | 5518 | -2.32% | -1.58% | 76.54% |
| XLY | -0.36% | -0.43% | -0.74% | 1.85% | 128 | 420 | 1489 | 5342 | -0.55% | 0.63% | 77.89% |
| PPH | 0.05% | -0.81% | 1.08% | 10.07% | 30 | 358 | 1563 | 5195 | 0.28% | 6.38% | 85.58% |
| EWY | -0.54% | 0.36% | 3.85% | 14.00% | 54 | 340 | 1062 | 5060 | 1.98% | 9.60% | 79.12% |
| ILF | 0.51% | 1.43% | 3.31% | 16.66% | 58 | 350 | 1160 | 4847 | 2.15% | 11.24% | 63.57% |
| EWH | -0.23% | 0.77% | 1.61% | 5.26% | 83 | 664 | 1133 | 4659 | 1.37% | 3.62% | 77.02% |
| EWS | -0.81% | 0.60% | 1.67% | 17.46% | 68 | 268 | 992 | 4622 | 1.76% | 9.19% | 67.98% |
| XLK | -0.16% | -0.20% | 3.69% | 7.29% | 86 | 416 | 979 | 4530 | 1.55% | 5.31% | 74.16% |
| ICF | -1.48% | -1.05% | -4.39% | -0.09% | 45 | 205 | 610 | 4524 | -2.85% | -4.89% | 49.95% |
| BBH | -1.69% | -4.84% | -2.74% | -2.45% | 59 | 271 | 774 | 4504 | -4.31% | -3.64% | 47.83% |
| SHY | 0.02% | -0.07% | 0.24% | 1.51% | 76 | 302 | 1015 | 3985 | 0.02% | 0.70% | -47.42% |
| XLP | 0.66% | 0.07% | -0.44% | 4.28% | 52 | 217 | 817 | 3820 | -0.37% | 2.33% | 64.30% |
| EWM | -0.41% | 0.93% | 2.21% | 29.03% | 56 | 265 | 819 | 3716 | 1.88% | 12.45% | 69.84% |
| KRE | -0.63% | -1.75% | -1.36% | -6.26% | 9 | 310 | 1120 | 3390 | -0.87% | -2.74% | 68.29% |
| AGG | -0.04% | -0.17% | 0.19% | 1.55% | 27 | 151 | 628 | 3226 | -0.04% | 0.65% | -64.75% |
| VWO | 0.05% | 0.68% | 1.80% | 9.50% | 28 | 154 | 561 | 3060 | 1.30% | 7.84% | 90.38% |
| VTI | -0.27% | -0.55% | 1.73% | 6.89% | 33 | 181 | 630 | 3036 | 0.39% | 4.12% | 93.20% |
| EPP | -0.32% | 0.77% | 0.47% | 15.21% | 116 | 232 | 647 | 2909 | 1.09% | 8.59% | 67.42% |
| IWS | -0.22% | -0.19% | 1.71% | 9.22% | 24 | 128 | 576 | 2754 | 0.46% | 4.39% | 88.27% |
| DXD | -0.49% | -1.27% | -8.69% | -11.13% | 134 | 423 | 1170 | 2713 | -3.74% | -10.24% | -68.88% |
| GDX | -0.23% | -4.12% | -7.61% | 1.67% | 16 | 154 | 556 | 2626 | -3.52% | -1.36% | 50.17% |
| DVY | -0.01% | -0.09% | 2.03% | 5.88% | 54 | 164 | 543 | 2604 | 0.74% | 4.23% | 97.41% |
| IWV | -0.16% | -0.25% | 1.91% | 6.37% | 43 | 169 | 475 | 2530 | 0.55% | 3.97% | 97.91% |
| IWB | -0.16% | -0.47% | 2.10% | 6.92% | 16 | 83 | 352 | 2508 | 0.52% | 4.26% | 95.04% |
| XRT | -0.64% | -1.36% | -4.29% | 3.51% | 37 | 333 | 691 | 2491 | -2.86% | -1.16% | 31.50% |
| IVW | -0.41% | -0.74% | 1.41% | 5.33% | 24 | 193 | 599 | 2467 | 0.20% | 3.54% | 88.35% |
| IEV | 0.26% | -0.04% | 1.31% | 9.61% | 35 | 182 | 627 | 2383 | 0.44% | 6.72% | 96.95% |
| IWR | -0.46% | -0.59% | 1.49% | 9.08% | 21 | 127 | 450 | 2379 | 0.15% | 4.13% | 82.44% |
| EWA | -0.14% | 1.01% | 0.75% | 19.20% | 30 | 249 | 675 | 2308 | 1.29% | 10.32% | 66.88% |
| IVE | 0.12% | 0.21% | 3.08% | 7.00% | 19 | 148 | 561 | 2274 | 1.15% | 4.80% | 95.88% |
| IJH | -0.37% | -0.29% | 1.31% | 9.62% | 22 | 108 | 429 | 2212 | 0.31% | 4.42% | 68.44% |
| UTH | 0.33% | 0.78% | 3.72% | 19.10% | 9 | 55 | 267 | 2200 | 1.61% | 10.49% | 68.13% |
| IFN | -0.56% | -0.39% | -2.52% | -10.30% | 14 | 96 | 337 | 1885 | -0.84% | -2.14% | 86.43% |
| IEF | -0.01% | -0.43% | 0.27% | 1.50% | 14 | 83 | 432 | 1864 | -0.12% | 0.70% | -36.23% |
| EZU | 1.65% | 0.61% | 2.16% | 12.53% | 36 | 214 | 565 | 1852 | 1.12% | 8.50% | 82.06% |
| EWG | 0.61% | -0.03% | 1.03% | 15.62% | 17 | 164 | 590 | 1824 | 0.28% | 9.42% | 97.07% |
| TIP | -0.27% | -0.70% | -0.26% | 1.12% | 17 | 84 | 354 | 1751 | -0.64% | 0.18% | -21.25% |
| SSO | -0.27% | -0.72% | 4.01% | 11.01% | 32 | 162 | 477 | 1731 | 1.06% | 7.66% | 96.38% |
| VGK | 0.24% | -0.32% | 1.02% | 10.07% | 19 | 127 | 404 | 1682 | 0.19% | 6.49% | 98.16% |
| KCE | -1.25% | -1.77% | -1.69% | 0.89% | 115 | 204 | 524 | 1650 | -1.44% | -0.56% | 49.16% |
| RSP | -0.14% | -0.47% | 1.93% | 8.56% | 78 | 201 | 419 | 1647 | 0.36% | 4.52% | 90.81% |
| IWP | -0.72% | -0.90% | 1.35% | 9.12% | 13 | 131 | 556 | 1591 | -0.20% | 3.89% | 61.01% |
| KBE | 0.02% | -0.70% | 1.18% | -0.26% | 12 | 65 | 381 | 1553 | -0.22% | 0.61% | 71.56% |
| EZA | -0.74% | -2.33% | -1.24% | 16.55% | 21 | 181 | 444 | 1530 | -1.68% | 8.65% | 88.62% |
| LQD | -0.22% | -0.54% | 0.25% | 2.07% | 19 | 75 | 326 | 1467 | -0.20% | 0.59% | -5.06% |
| EWP | 1.18% | 1.53% | -1.02% | 7.88% | 9 | 83 | 380 | 1380 | 0.91% | 4.74% | 71.23% |
| MZZ | 0.91% | 0.89% | -1.78% | -14.71% | 18 | 86 | 251 | 1311 | -0.31% | -7.55% | -83.60% |
| VNQ | -1.52% | -1.02% | -4.01% | 1.20% | 33 | 65 | 194 | 1244 | -2.47% | -3.51% | 53.74% |
| EWO | 0.20% | -0.08% | -0.45% | 9.10% | 10 | 114 | 288 | 1211 | -0.89% | 5.54% | 85.08% |
| IAI | -1.24% | -1.95% | -1.75% | 0.06% | 5 | 71 | 229 | 1147 | -1.56% | -1.01% | 65.67% |
| IYM | 0.58% | 0.61% | 3.10% | 18.25% | 5 | 35 | 130 | 1126 | 2.15% | 8.34% | 91.00% |
| VUG | -0.37% | -0.82% | 1.23% | 6.57% | 8 | 46 | 143 | 1102 | 0.05% | 3.46% | 88.15% |
| HHH | -1.58% | -3.17% | 1.53% | 13.86% | 11 | 86 | 375 | 1095 | 0.84% | 6.16% | 49.61% |
| EWU | 0.12% | -0.55% | -0.04% | 6.75% | 5 | 47 | 165 | 1062 | 0.27% | 4.85% | 97.86% |
| FXE | 0.32% | 0.36% | 0.10% | 3.74% | 6 | 70 | 270 | 1034 | -0.04% | 2.62% | 60.18% |
