Macro Summary
Total ETF market volume registered $281.63 billion, a moderately active session at 107% of the 30-day average. Activity was concentrated in specific pockets, with Fixed Income leading the major asset classes at 119% of its typical volume, followed by Equity at 109%. In contrast, Digital Asset funds saw a significant drop-off in turnover, trading just 53% of their recent average. The session’s primary theme was driven by outsized, event-driven trading in single stocks which spilled over into the leveraged and inverse ETF space.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $191.79B | $176.15B | 109% |
| Fixed Income | $32.27B | $27.06B | 119% |
| Commodities | $5.79B | $5.65B | 102% |
| Digital Asset | $2.56B | $4.84B | 53% |
| Currencies | $103.8M | $107.6M | 97% |
| Alternatives | $701.0M | $757.4M | 93% |
| Non-Traditional | $48.19B | $47.30B | 102% |
| Multi-Asset | $224.0M | $222.1M | 101% |
| Total | $281.63B | $262.09B | 107% |
Equity
Equity ETFs traded $191.79 billion, representing a slightly elevated 109% of their 30-day average volume. Thematic Sustainability funds saw the most unusual activity, trading at 163% of their norm, while Sector funds focused on Utilities and Materials both saw turnover around 144% of average. Individual fund activity was highlighted by extreme outliers, including GMO International Value ETF (GMOI) at 1,820% of its ADV, Invesco Large Cap Value ETF (PWV) at 871%, and iShares MSCI Thailand ETF (THD) at 860%. The iShares U.S. Financials ETF (IYF) was also notably active, trading $302.7 million, or 627% of its average.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Sustainability | 163% | $364.6M | +2.78% |
| Equity: Sector – Utilities | 144% | $1.34B | -0.49% |
| Equity: Sector – Materials | 144% | $890.6M | +2.45% |
| Equity: U.S. Mid Cap – Blend | 138% | $2.66B | +1.71% |
| Equity: Thematic – Natural Resources | 135% | $1.16B | +2.78% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GMOI | GMO International Value ETF | 1,820% | $68.6M | +0.14% |
| PWV | Invesco Large Cap Value ETF | 871% | $56.9M | +0.26% |
| THD | iShares MSCI Thailand ETF | 860% | $24.9M | +0.53% |
| IYY | iShares Dow Jones U.S. ETF | 850% | $38.4M | +1.84% |
| FLGB | Franklin FTSE United Kingdom ETF | 760% | $25.7M | +0.19% |
| IYF | iShares U.S. Financials ETF | 627% | $302.7M | +0.85% |
| RPV | Invesco S&P 500 Pure Value ETF | 598% | $120.3M | -0.60% |
| IVOG | Vanguard S&P Mid-Cap 400 Growth ETF | 590% | $17.8M | +2.16% |
| CVLC | Calvert US Large-Cap Core Responsible Index ETF | 545% | $16.0M | +1.81% |
| SPUS | SP Funds S&P 500 Sharia Industry Exclusions ETF | 451% | $102.1M | +2.52% |
Fixed Income
Fixed Income products saw robust turnover, with $32.27 billion changing hands for an activity level of 119% against the 30-day average. The session was dominated by interest in the front end of the curve, as Ultrashort bond ETFs traded at 155% of their typical volume. High Yield and Inflation Protected bond categories also saw heightened activity at 138% and 140% of their respective averages. The standout was the Vanguard Ultra-Short Bond ETF (VUSB), which saw an exceptional $839.7 million in volume, a staggering 1,175% of its daily average. JPMorgan Flexible Debt ETF (JFLX) also experienced a surge in trading, reaching 924% of its norm.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Ultrashort | 155% | $2.51B | +0.02% |
| Fixed Income: Municipal – Single State | 142% | $134.6M | +0.29% |
| Fixed Income: Taxable – Inflation Protected | 140% | $789.9M | +0.11% |
| Fixed Income: Taxable – High Yield | 138% | $5.05B | +0.27% |
| Fixed Income: Municipal – High Yield | 133% | $164.8M | +0.32% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| VUSB | Vanguard Ultra-Short Bond ETF | 1,175% | $839.7M | +0.06% |
| JFLX | JPMorgan Flexible Debt ETF | 924% | $47.7M | +0.06% |
| IBTL | iShares iBonds Dec 2031 Term Treasury ETF | 386% | $19.4M | +0.33% |
| IBTM | iShares iBonds Dec 2032 Term Treasury ETF | 368% | $9.3M | +0.33% |
| ANGL | VanEck Fallen Angel High Yield Bond ETF | 348% | $68.1M | +0.38% |
| TUSI | Touchstone Ultra Short Income ETF | 339% | $20.5M | +0.00% |
| JHCR | John Hancock Core Bond ETF | 332% | $27.2M | +0.38% |
| TAGG | T. Rowe Price QM U.S. Bond ETF | 329% | $52.4M | +0.44% |
| TBLL | Invesco Short Term Treasury ETF | 315% | $75.8M | +0.02% |
| STPZ | PIMCO 1-5 Year US TIPS Index Exchange-Traded Fund | 285% | $9.6M | +0.01% |
Commodities
Commodity ETF volume was largely in line with recent trends, totaling $5.79 billion for 102% of the 30-day average. The only category to see a notable uptick was Focused Energy, which traded at 126% of its norm. Among individual funds, precious metals ETFs saw significant interest, with abrdn Physical Platinum Shares ETF (PPLT) and abrdn Physical Palladium Shares ETF (PALL) trading at 248% and 244% of their respective averages. The United States Brent Oil Fund LP (BNO) also saw elevated turnover at 224% of its ADV.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Energy | 126% | $1.20B | -3.61% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PPLT | abrdn Physical Platinum Shares ETF | 248% | $78.3M | +6.58% |
| PALL | abrdn Physical Palladium Shares ETF | 244% | $40.4M | +7.31% |
| BNO | United States Brent Oil Fund LP | 224% | $182.9M | -5.79% |
| IAU | iShares Gold Trust | 209% | $781.1M | +0.66% |
| WEAT | Teucrium Wheat Fund | 173% | $19.5M | -1.71% |
| DBC | Invesco DB Commodity Index Tracking Fund | 167% | $46.6M | -1.96% |
| UNG | United States Natural Gas Fund LP | 159% | $119.6M | -3.47% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 157% | $24.4M | -0.96% |
Digital Asset
The Digital Asset space experienced a very quiet session, with total volume of just $2.56 billion, representing only 53% of the 30-day average. No categories registered above-average activity. The lone standout in an otherwise muted tape was the VanEck Bitcoin ETF (HODL), which traded a modest $30.7 million but did so at 151% of its recent average 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 |
|---|---|---|---|---|
| HODL | VanEck Bitcoin ETF | 151% | $30.7M | +0.55% |
Currencies
Currency ETF activity was subdued, with total volume of $103.8 million coming in at 97% of the 30-day average. Trading was concentrated in a single fund, as the Invesco Currencyshares Japanese Yen Trust (FXY) accounted for a significant portion of the day’s turnover, trading at 182% of its usual 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 |
|---|---|---|---|---|
| FXY | Invesco Currencyshares Japanese Yen Trust | 182% | $27.0M | -0.61% |
Alternatives
Alternatives ETFs saw a quiet day of trading, with volume reaching $701.0 million, or 93% of the 30-day average. No categories saw above-average turnover. The only fund to cross the 150% activity threshold was the Simplify Managed Futures Strategy ETF (CTA), which traded at 155% of its norm.
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 | 155% | $19.3M | -2.94% |
Non-Traditional
Non-Traditional ETFs traded $48.19 billion, a normal session at 102% of the 30-day average. The day’s main story was the immense activity in single-stock leveraged products tied to Palantir. The GraniteShares 2x Long PLTR Daily ETF (PTIR) and the Direxion Daily PLTR Bull 2X ETF (PLTU) saw volumes surge to 654% and 644% of their respective averages, trading a combined $902.2 million as the underlying stock experienced a massive rally.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Fixed Income | 144% | $241.8M | -0.22% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PTIR | GraniteShares 2x Long PLTR Daily ETF | 654% | $358.1M | +54.94% |
| PLTU | Direxion Daily PLTR Bull 2X ETF | 644% | $544.1M | +54.89% |
| PJAN | Innovator U.S. Equity Power Buffer ETF – January | 500% | $17.5M | +0.44% |
| PLTY | YieldMax PLTR Option Income Strategy ETF | 478% | $19.7M | +26.99% |
| PAUG | Innovator U.S. Equity Power Buffer ETF – August | 317% | $15.2M | +0.69% |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | 288% | $1.29B | +5.66% |
| IDVO | Amplify CWP International Enhanced Dividend Income ETF | 271% | $23.9M | +0.02% |
| OVL | Overlay Shares Large Cap Equity ETF | 213% | $15.3M | +1.89% |
| FNGU | MicroSectors FANG+ 3 Leveraged ETNs | 210% | $253.5M | +12.94% |
| ROCQ | JPMorgan Nasdaq Equity Premium Yield ETF | 193% | $19.8M | +1.66% |
Multi-Asset
Multi-Asset ETFs posted a quiet session with $224.0 million in volume, almost exactly matching its 30-day average at 101% activity. While no categories stood out, a couple of individual funds saw elevated interest. The Amplify CEF High Income ETF (YYY) traded at 267% of its average, while the State Street Bridgewater All Weather ETF (ALLW) saw turnover reach 203% of its norm.
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 | 267% | $9.6M | +0.49% |
| ALLW | State Street Bridgewater All Weather ETF | 203% | $25.5M | +0.46% |
Single-Stock Volume
Single-stock activity was dominated by a massive surge in Palantir Technologies Inc. Class A (PLTR), which traded an immense $25.48 billion, or 514% of its 30-day average, following a significant price move. The stock is a popular holding, found in 477 different ETFs. While Palantir led in dollar terms, Autonomix Medical, Inc. (AMIX) saw the most extreme relative volume, trading at an astronomical 15,027% of its ADV. Other notable movers included Wayfair, Inc. Class A (W) at 560% of its average on $1.56 billion in turnover, and Ferguson Enterprises Inc. (FERG) at 540% of average on $1.95 billion.
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Holding |
|---|---|---|---|---|---|
| AMIX | Autonomix Medical, Inc. | 15,027% | $1.97B | +375.04% | — |
| W | Wayfair, Inc. Class A | 560% | $1.56B | +29.49% | 105 |
| FERG | Ferguson Enterprises Inc. | 540% | $1.95B | +0.48% | 227 |
| APTV | Aptiv PLC | 527% | $773.1M | -16.77% | 248 |
| PCOR | Procore Technologies Inc | 519% | $783.9M | +1.13% | 81 |
| PLTR | Palantir Technologies Inc. Class A | 514% | $25.48B | +28.11% | 477 |
| EA | Electronic Arts Inc. | 460% | $2.32B | -0.02% | 352 |
| ZBRA | Zebra Technologies Corporation Class A | 452% | $893.2M | +26.53% | 194 |
| NRG | NRG Energy, Inc. | 417% | $1.48B | -15.29% | 283 |
| NVO | Novo Nordisk A/S Sponsored ADR Class B | 393% | $2.03B | -5.82% | 45 |
| TSEM | Tower Semiconductor Ltd | 343% | $1.49B | +2.62% | 47 |
| IT | Gartner, Inc. | 340% | $621.7M | +22.43% | 213 |
| PLD | Prologis, Inc. | 329% | $1.97B | -2.53% | 333 |
| TRI | Thomson Reuters Corporation | 316% | $579.3M | +7.41% | 12 |
| SPOT | Spotify Technology SA | 269% | $2.20B | -0.59% | 221 |
