{"slug":"etf-creation-and-redemption","qid":"hyg_stress","label":"Daily range and volume in a high yield bond ETF, month by month","post_title":"How ETF Creation and Redemption Works","post_url":"/blog/etf-creation-and-redemption#q-hyg_stress","columns":["period","avg_day_range_pct","avg_daily_volume_millions"],"rows":[{"period":"Oct 2019","avg_day_range_pct":0.24,"avg_daily_volume_millions":17.4},{"period":"Nov 2019","avg_day_range_pct":0.22,"avg_daily_volume_millions":15.9},{"period":"Dec 2019","avg_day_range_pct":0.22,"avg_daily_volume_millions":17.7},{"period":"Jan 2020","avg_day_range_pct":0.29,"avg_daily_volume_millions":23.2},{"period":"Feb 2020","avg_day_range_pct":0.48,"avg_daily_volume_millions":35.2},{"period":"Mar 2020","avg_day_range_pct":2.9,"avg_daily_volume_millions":56.6},{"period":"Apr 2020","avg_day_range_pct":1.46,"avg_daily_volume_millions":35.6},{"period":"May 2020","avg_day_range_pct":0.78,"avg_daily_volume_millions":25.1},{"period":"Jun 2020","avg_day_range_pct":0.94,"avg_daily_volume_millions":35.4}],"shape":"ranking","sql":"SELECT\n    formatDateTime(toStartOfMonth(date), '%b %Y')                             AS period,\n    round(avg(100 * (toFloat64(high) - toFloat64(low)) / toFloat64(open)), 2) AS avg_day_range_pct,\n    round(avg(volume) / 1000000, 1)                                          AS avg_daily_volume_millions\nFROM global_markets.stocks_daily_aggs\nWHERE ticker = 'HYG'\n  AND date >= '2019-10-01'\n  AND date <  '2020-07-01'\nGROUP BY period\nORDER BY min(date)","computed_at":"2026-08-07T16:57:14.588742+00:00","elapsed":0.001923198}