Macro Summary
Total ETF market volume registered a subdued $189.31 billion, trading at just 80% of its recent 30-day average. The session was characterized by a clear divergence in activity, as turnover in Equity and Non-Traditional products fell sharply below their typical levels. In contrast, Fixed Income and Multi-Asset ETFs saw modestly elevated trading volumes, suggesting a potential shift in investor focus towards more defensive or income-oriented strategies to begin the week.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $117.90B | $154.60B | 76% |
| Fixed Income | $31.15B | $28.55B | 109% |
| Commodities | $6.98B | $7.59B | 92% |
| Digital Asset | $4.03B | $4.52B | 89% |
| Currencies | $68.4M | $98.5M | 69% |
| Alternatives | $514.3M | $696.9M | 74% |
| Non-Traditional | $28.42B | $41.25B | 69% |
| Multi-Asset | $242.8M | $218.1M | 111% |
| Total | $189.31B | $237.52B | 80% |
Equity
Equity ETFs experienced a quiet day, with total volume reaching only $117.90 billion, or 76% of the 30-day average. Despite the overall lull, specific pockets of the market saw concentrated interest, particularly in Latin America-focused funds, which traded at 192% of their norm, and Utilities sector ETFs at 146%. Individual fund activity was led by several notable outliers, including Marketbeta INTL Equity ETF (GSID) at 1,145% of its average and First Trust Water ETF (FIW) at 1,044%, both on volumes exceeding $39 million.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Region – Latin America | 192% | $172.4M | +0.36% |
| Equity: Sector – Utilities | 146% | $1.41B | -1.08% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GSID | Marketbeta INTL Equity ETF | 1,145% | $39.0M | -0.17% |
| FIW | First Trust Water ETF | 1,044% | $43.8M | -0.98% |
| GVAL | Cambria Global Value ETF | 740% | $33.6M | +0.01% |
| SAMT | Strategas Macro Thematic Opportunities ETF | 708% | $32.0M | -0.30% |
| VIOG | Vanguard S&P Small-Cap 600 Growth ETF | 572% | $20.4M | -0.85% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 514% | $14.8M | -0.08% |
| PIZ | Invesco Dorsey Wright Developed Markets Momentum ETF | 512% | $21.2M | -0.49% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 494% | $35.3M | -0.24% |
| XPH | State Street SPDR S&P Pharmaceuticals ETF | 465% | $36.0M | -0.32% |
| USPX | Franklin U.S. Equity Index ETF | 459% | $17.8M | -0.27% |
Fixed Income
Fixed Income was a relative bright spot, with turnover of $31.15 billion translating to 109% of its 30-day average. Activity was concentrated in several categories, including Emerging Market debt (184%), Long-Term bonds (150%), and Government Ultrashort funds (143%). The session’s volume was punctuated by massive block trades in a few specific funds. Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) traded an exceptional 1,482% of its average on $167.5 million, while Vanguard Core Bond ETF (VCRB) saw over ten times its usual volume, turning over $395.9 million.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Emerging | 184% | $122.2M | +0.07% |
| Fixed Income: Taxable – Long-Term | 150% | $715.6M | -0.33% |
| Fixed Income: Municipal – Single State | 143% | $171.3M | -0.16% |
| Fixed Income: Taxable – Government Ultrashort | 143% | $6.33B | -0.04% |
| Fixed Income: Taxable – Bank Loans | 142% | $366.7M | -0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BHYB | Xtrackers USD High Yield BB-B ex Financials ETF | 1,482% | $167.5M | -0.02% |
| VCRB | Vanguard Core Bond ETF | 1,012% | $395.9M | -0.19% |
| FLCB | Franklin U.S Core Bond ETF | 705% | $56.6M | -0.12% |
| CLOZ | Eldridge BBB-B CLO ETF | 410% | $39.4M | -0.21% |
| EMHY | iShares J.P. Morgan EM High Yield Bond ETF | 400% | $12.6M | -0.19% |
| GIGB | Goldman Sachs Access Investment Grade Corporate Bond ETF | 389% | $10.7M | -0.01% |
| LEMB | iShares J.P. Morgan EM Local Currency Bond ETF | 382% | $17.3M | +0.72% |
| QLTA | iShares Aaa-A Rated Corporate Bond ETF | 354% | $25.3M | -0.06% |
| TBUX | T. Rowe Price Ultra Short-Term Bond ETF | 336% | $51.1M | +0.00% |
| AGGY | WisdomTree Yield Enhanced U.S. Aggregate Bond Fund | 308% | $14.9M | -0.12% |
Commodities
Commodity ETFs traded $6.98 billion, a slightly below-average session at 92% of the 30-day norm. The space was defined by targeted interest in Agriculture funds, which collectively traded at 266% of their average, and Shipping Freight products at 186%. This theme was evident in the top tickers, with Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) trading at 395% of its ADV and Teucrium Wheat Fund (WEAT) seeing 366% of its typical turnover.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Agriculture | 266% | $161.3M | +0.20% |
| Commodity: Specialty – Shipping Freight | 186% | $171.1M | -1.18% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | 395% | $15.3M | +0.84% |
| PIT | VanEck Commodity Strategy ETF | 393% | $12.1M | +1.68% |
| WEAT | Teucrium Wheat Fund | 366% | $57.9M | -1.39% |
| SDCI | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 355% | $24.2M | +1.61% |
| DBA | Invesco DB Agriculture Fund | 239% | $66.7M | +0.38% |
| CMDY | iShares Bloomberg Roll Select Commodity Strategy ETF | 176% | $8.8M | +1.29% |
| AAAU | Goldman Sachs Physical Gold ETF | 165% | $88.3M | -0.13% |
| PALL | abrdn Physical Palladium Shares ETF | 154% | $30.3M | -3.88% |
Digital Asset
Digital Asset ETFs saw a below-average session with $4.03 billion in volume, representing 89% of their recent average. Within the space, Altcoin-focused products were a notable exception, trading at 142% of their norm. This was driven almost entirely by a massive surge in Zcash ETF (ZCSH), which traded an extraordinary 628% of its average volume, or $30.8 million, as its price jumped +7.58%.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Altcoin | 142% | $191.3M | +0.71% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| ZCSH | Zcash ETF | 628% | $30.8M | +7.58% |
| XRPZ | Franklin XRP ETF | 161% | $9.1M | +0.83% |
Currencies
Currency ETF activity was deeply muted, with total volume of just $68.4 million amounting to only 69% of the 30-day average. No specific categories or individual tickers registered trading volumes significantly above their recent norms, making it one of the quietest corners of the market.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Alternatives
The Alternatives category also experienced a quiet session, with trading volume of $514.3 million coming in at 74% of its 30-day average. While no broader categories stood out, a couple of managed futures and volatility-focused funds saw elevated interest. Simplify Managed Futures Strategy ETF (CTA) traded at 200% of its ADV, while Simplify Volatility Premium ETF (SVOL) saw 160% of its typical volume.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CTA | Simplify Managed Futures Strategy ETF | 200% | $23.1M | +2.73% |
| SVOL | Simplify Volatility Premium ETF | 160% | $7.1M | +0.79% |
Non-Traditional
Non-Traditional ETFs saw significantly reduced turnover, with $28.42 billion in volume representing just 69% of the recent average. Despite the low aggregate volume, Buffer Equity strategies were quite active at 181% of their norm. This was reflected in the individual fund data, with Aptus Enhanced Yield ETF (JUCY) trading at 774% of its average and Innovator U.S. Equity Buffer ETF – June (BJUN) seeing 664% of its usual volume.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Buffer – Equity | 181% | $555.7M | -0.07% |
| Non-Traditional: Synthetic Income – Fixed Income | 143% | $104.8M | -0.10% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| JUCY | Aptus Enhanced Yield ETF | 774% | $21.2M | -0.05% |
| BJUN | Innovator U.S. Equity Buffer ETF – June | 664% | $18.4M | -0.30% |
| BUFZ | FT Vest Laddered Moderate Buffer ETF | 226% | $9.7M | -0.04% |
| ROCQ | JPMorgan Nasdaq Equity Premium Yield ETF | 216% | $30.1M | +0.09% |
| CSHI | NEOS Enhanced Income 1-3 Month T-Bill ETF | 192% | $54.8M | +0.03% |
| CAIQ | Calamos Nasdaq Autocallable Income ETF | 182% | $10.3M | +0.10% |
| QDTE | Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 173% | $25.4M | +0.16% |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X ETF | 171% | $78.9M | -1.20% |
| OVL | Overlay Shares Large Cap Equity ETF | 170% | $16.6M | -0.35% |
| IYRI | NEOS Real Estate High Income ETF | 169% | $6.5M | -0.73% |
Multi-Asset
Multi-Asset ETFs posted a modestly active session, trading $242.8 million for 111% of their 30-day average volume. Activity was not concentrated in any particular category but was highlighted by above-average turnover in the Amplify CEF High Income ETF (YYY), which traded at 186% of its ADV.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| YYY | Amplify CEF High Income ETF | 186% | $6.0M | -0.31% |
Single-Stock Volume
Several single stocks experienced extraordinary trading volumes, often driven by significant price moves. Utility stocks were in focus, with Edison International (EIX) trading 482% of its average volume on a -22.74% price drop, and PG&E Corporation (PCG) seeing 385% of its norm as it fell -19.23%. Other notable high-volume names included Howmet Aerospace Inc. (HWM) at 272% of its ADV and Affirm Holdings, Inc. Class A (AFRM) at 255%. Widely-held mega-caps also saw elevated turnover, with CrowdStrike Holdings, Inc. Class A (CRWD) trading $2.81 billion (161% of ADV) and Tesla, Inc. (TSLA), held by 515 ETFs, trading over $19 billion (150% of ADV).
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Holding |
|---|---|---|---|---|---|
| EIX | Edison International | 482% | $1.19B | -22.74% | 313 |
| PCG | PG&E Corporation | 385% | $1.90B | -19.23% | 255 |
| HWM | Howmet Aerospace Inc. | 272% | $1.62B | -6.82% | 350 |
| AFRM | Affirm Holdings, Inc. Class A | 255% | $789.7M | -4.45% | 157 |
| TTWO | Take-Two Interactive Software, Inc. | 235% | $1.26B | -6.25% | 309 |
| SLB | SLB Limited | 229% | $1.39B | +4.76% | 324 |
| BURL | Burlington Stores, Inc. | 190% | $642.2M | -4.38% | 187 |
| LULU | lululemon athletica inc. | 169% | $545.3M | +0.56% | 238 |
| AZO | AutoZone, Inc. | 168% | $987.9M | +0.46% | 271 |
| SRE | Sempra | 168% | $532.8M | -3.08% | 278 |
| CRWD | CrowdStrike Holdings, Inc. Class A | 161% | $2.81B | +4.98% | 437 |
| CRCL | Circle Internet Group, Inc. Class A | 153% | $1.52B | +9.32% | 139 |
| BP | BP PLC Sponsored ADR | 152% | $548.6M | +1.72% | 37 |
| TSLA | Tesla, Inc. | 150% | $19.03B | +5.68% | 515 |
