Macro Summary
Total market activity was relatively muted for the session, with $259.15B traded, representing 91% of the 30-day average volume. Equity volume led the session in nominal terms but remained constrained relative to baseline, mirroring a balanced and measured tone across the broader ETF landscape. Pockets of strength were concentrated in specialized segments, particularly Digital Assets and Commodities, which saw outsized relative activity.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $171.20B | $186.07B | 92% |
| Fixed Income | $26.01B | $28.67B | 91% |
| Commodities | $7.80B | $7.53B | 104% |
| Digital Asset | $5.03B | $4.72B | 106% |
| Currencies | $98.79M | $114.94M | 86% |
| Alternatives | $891.90M | $1.09B | 82% |
| Non-Traditional | $47.81B | $56.02B | 85% |
| Multi-Asset | $306.07M | $262.28M | 117% |
Equity
Equity ETFs recorded $171.20B in total volume, trailing the 30-day average by 8%. Despite the overall muted flow, targeted thematic segments like Multi-Sector and Health Innovation saw robust engagement. At the ticker level, a blend of smart beta and momentum strategies dominated outlier activity, signaling focused institutional positioning underneath the quiet headline numbers.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Multi-Sector | 144% | $1.35B | +2.61% |
| Equity: Thematic – Midstream & MLPs | 137% | $190.10M | -1.53% |
| Equity: Thematic – Health Innovation | 132% | $129.81M | +0.82% |
| Equity: Sector – Materials | 129% | $841.04M | +0.43% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| EAGL | Eagle Capital Select Equity ETF | 701% | $60.68M | +0.96% |
| SNPE | Xtrackers S&P 500 Scored & Screened ETF | 662% | $91.21M | +1.68% |
| PTF | Invesco Dorsey Wright Technology Momentum ETF | 566% | $65.29M | +4.82% |
| SAMT | Strategas Macro Thematic Opportunities ETF | 450% | $35.24M | +1.28% |
| EUFN | iShares MSCI Europe Financials ETF | 421% | $147.72M | -1.71% |
| EQL | Alps Equal Sector Weight ETF | 419% | $11.15M | +0.56% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 392% | $178.72M | +1.11% |
| URNJ | Sprott Junior Uranium Miners ETF | 313% | $27.56M | +5.56% |
| ALAI | Alger AI Enablers & Adopters ETF | 303% | $9.28M | +6.09% |
| FLGB | Franklin FTSE United Kingdom ETF | 303% | $14.02M | -1.66% |
Fixed Income
Fixed Income activity was balanced, generating $26.01B in volume and tracing 91% of its rolling 30-day average. The broader bond complex saw flat but positive returns, though outlier activity emerged in specific duration targeting and emerging market sovereign exposure, reflecting nuanced yield-seeking behavior rather than broad rotation.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XEMD | BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 522% | $31.90M | +0.32% |
| IBTJ | iShares iBonds Dec 2029 Term Treasury ETF | 431% | $20.41M | +0.09% |
| SCHP | Schwab US TIPS ETF | 425% | $402.89M | +0.06% |
| JMBS | Janus Henderson Mortgage-Backed Securities ETF | 399% | $104.25M | -0.01% |
| SPTS | State Street SPDR Portfolio Short Term Treasury ETF | 399% | $147.88M | +0.09% |
| TAFI | AB Tax-Aware Short Duration Municipal ETF | 334% | $37.74M | +0.04% |
| TAFM | AB Tax-Aware Intermediate Municipal ETF | 250% | $13.38M | +0.04% |
| PTRB | PGIM Total Return Bond ETF | 240% | $15.57M | +0.16% |
| GCOR | Goldman Sachs Access U.S. Aggregate Bond ETF | 221% | $6.86M | +0.05% |
| INMU | iShares Intermediate Muni Income Active ETF | 221% | $9.40M | +0.15% |
Commodities
Commodities demonstrated relative outperformance in trading interest, clearing $7.80B in volume (104% of ADV). Broad market strategies experienced substantial turnover, largely driving the elevated activity. Volatility in the energy complex and shifting momentum in broad commodity aggregates contributed to the active session.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Multi-Sector – Broad Market | 156% | $519.10M | -0.52% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PIT | VanEck Commodity Strategy ETF | 727% | $24.18M | -1.28% |
| HGER | Harbor Commodity All-Weather Strategy ETF | 676% | $211.54M | -0.12% |
| OILK | ProShares K-1 Free Crude Oil ETF of Benef Interest | 217% | $24.63M | -2.60% |
| CERY | State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 206% | $8.84M | -0.60% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 175% | $51.11M | -0.27% |
| OUNZ | VanEck Merk Gold ETF | 173% | $47.68M | +2.51% |
Digital Asset
Digital Asset ETFs experienced a breakout session in both performance and liquidity, posting an average 1D return of +7.45% alongside $5.03B in trading volume (106% of ADV). Altcoin allocations were particularly active and explosive, heavily driving volume and substantial positive variance on the day.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Altcoin | 130% | $113.27M | +9.27% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XRP | Bitwise XRP ETF | 227% | $20.58M | +12.73% |
| MSBT | Morgan Stanley Bitcoin Trust ETF | 198% | $22.31M | +4.69% |
| ETHB | iShares Staked Ethereum Trust ETF | 194% | $19.82M | +9.39% |
| XRPC | Canary XRP ETF | 165% | $4.88M | +12.73% |
Currencies
Currency ETFs observed quiet trading, recording $98.79M in volume, coming in at only 86% of typical 30-day levels. The space remained structurally uneventful with flat returns and virtually no outlier activity meeting inclusion thresholds.
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
Alternatives registered a relatively quiet $891.90M in volume, operating at 82% of typical liquidity. However, Managed Futures stood out structurally, experiencing a surge in engagement despite the broader asset class’s quiet profile, underscoring focused hedging or alpha-seeking flow.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Absolute Return – Managed Futures | 137% | $105.86M | -0.08% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DBMF | iMGP DBi Managed Futures Strategy ETF | 185% | $81.66M | +0.27% |
| SVOL | Simplify Volatility Premium ETF | 154% | $7.39M | +2.07% |
Non-Traditional
Non-Traditional products transacted $47.81B, tracking at 85% of standard volume despite posting an impressive average daily return. Elevated outlier action was scattered across synthetic income and highly leveraged directional bets, highlighting tactical positioning by sophisticated participants rather than sustained institutional trending.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DDM | ProShares Ultra Dow30 | 229% | $26.37M | +2.06% |
| IWMI | NEOS Russell 2000 High Income ETF | 202% | $31.89M | +2.05% |
| IYRI | NEOS Real Estate High Income ETF | 192% | $7.04M | -0.61% |
| SLVO | UBS AG ETRACS Silver Shares Covered Call ETNs | 190% | $20.57M | +3.97% |
| MLPI | NEOS MLP & Energy Infrastructure High Income ETF | 188% | $34.21M | -0.11% |
| ETHU | 2x Ether ETF | 184% | $179.54M | +19.21% |
| OMAH | VistaShares Target 15 Berkshire Select Income ETF | 178% | $24.55M | +0.40% |
| FTHI | First Trust BuyWrite Income ETF | 169% | $24.40M | +0.65% |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | 169% | $153.67M | +12.90% |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | 156% | $915.48M | +5.16% |
Multi-Asset
Multi-Asset exchange-traded funds recorded $306.07M in volume, driving a notably strong session at 117% of their 30-day average. Target Risk Growth profiles were specifically bought up with substantial enthusiasm, alongside core alternative allocation strategies pushing to the top of the outlier chart.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Target Risk – Growth | 133% | $132.78M | +0.97% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| NTSX | WisdomTree U.S. Efficient Core Fund | 235% | $6.26M | +1.54% |
| YYY | Amplify CEF High Income ETF | 222% | $10.68M | +0.48% |
