Macro Summary
Total market volume reached $214.67B, reflecting a muted session with overall activity registering at just 87% of the 30-day average. Digital Assets stood out as the sole major class to eclipse typical trading levels, posting an anomalous 127% of its normal volume. Conversely, Fixed Income and Commodities saw notably subdued participation at 77% and 62% respectively.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $134.88B | $159.16B | 85% |
| Fixed Income | $21.71B | $28.08B | 77% |
| Commodities | $5.80B | $9.41B | 62% |
| Digital Asset | $5.20B | $4.09B | 127% |
| Currencies | $112.27M | $131.97M | 85% |
| Alternatives | $1.01B | $1.11B | 91% |
| Non-Traditional | $45.70B | $44.52B | 103% |
| Multi-Asset | $244.05M | $227.87M | 107% |
Equity
Equity trading was broadly below average at $134.88B (85% of ADV). Despite the broader lull, select thematic spaces, notably the Industrial Revolution and Sustainability complexes, experienced elevated turnover and positive momentum.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Global Small | Mid Cap | 366% | $103.11M | -0.05% |
| Equity: Thematic – Industrial Revolution | 154% | $600.41M | +0.92% |
| Equity: Thematic – Sustainability | 126% | $343.57M | +0.28% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| INFL | Horizon Kinetics Inflation Beneficiaries ETF | 719% | $92.05M | -1.83% |
| LGLV | State Street SPDR US Large Cap Low Volatility Index ETF | 622% | $26.76M | +0.36% |
| DBJP | Xtrackers MSCI Japan Hedged Equity ETF | 403% | $13.44M | -0.84% |
| NASA | Tema Space Innovators ETF | 376% | $178.92M | +4.10% |
| PKW | Invesco Buyback Achievers ETF | 365% | $12.86M | +0.64% |
| IJT | iShares S&P Small-Cap 600 Growth ETF | 328% | $64.49M | +0.62% |
| TOUS | T. Rowe Price International Equity ETF | 312% | $19.58M | -0.05% |
| BRIE | MFS Blended Research International Equity ETF | 303% | $12.83M | -0.15% |
| NFRA | FlexShares STOXX Global Broad Infrastructure Index Fund | 300% | $9.24M | -1.36% |
| DVY | iShares Select Dividend ETF | 280% | $147.32M | +0.30% |
Fixed Income
Fixed Income experienced muted overall participation, transacting $21.71B (77% of ADV). Despite the lighter broad turnover, significant anomalous interest was concentrated in high-yield municipals and intermediate segments.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Municipal – High Yield | 178% | $180.92M | +0.01% |
| Fixed Income: Municipal – Intermediate | 136% | $1.22B | +0.01% |
| Fixed Income: Taxable – Inflation Protected | 133% | $699.50M | -0.09% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CGHM | Capital Group Municipal High-Income ETF | 836% | $70.47M | -0.06% |
| STPZ | PIMCO 1-5 Year US TIPS Index Exchange-Traded Fund | 465% | $13.44M | -0.16% |
| BILZ | PIMCO Ultra Short Government Active Exchange-Traded Fund | 454% | $87.28M | +0.01% |
| BSJS | Invesco BulletShares 2028 High Yield Corporate Bond ETF | 421% | $10.60M | -0.05% |
| TDTF | FlexShares iBoxx 5 Year Target Duration TIPS Index Fund | 349% | $11.71M | -0.17% |
| GVI | iShares Intermediate Government/Credit Bond ETF | 329% | $67.02M | -0.10% |
| CGMU | Capital Group Municipal Income ETF | 286% | $83.31M | +0.00% |
| EVLN | Eaton Vance Floating-Rate ETF | 271% | $11.46M | +0.02% |
| XBIL | US Treasury 6 Month Bill ETF | 258% | $17.72M | +0.01% |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | 251% | $16.08M | -0.09% |
Commodities
Commodity ETFs experienced significantly depressed trading, totaling just $5.80B (62% of ADV) amid broad weakness. Agricultural focused funds were a rare pocket of elevated activity, though performance skewed heavily negative.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Agriculture | 135% | $148.92M | -1.70% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | 600% | $68.70M | -1.72% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 447% | $96.81M | -1.07% |
| COM | Direxion Auspice Broad Commodity Strategy ETF | 265% | $14.15M | -1.24% |
| SDCI | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 194% | $8.90M | -0.89% |
Digital Asset
Digital Assets decisively led market activity ratios, recording $5.20B in volume (127% of ADV) accompanied by strong positive returns across the board. Capital flow was heavily driven by both Bitcoin and Altcoin allocations.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Altcoin | 160% | $113.53M | +3.84% |
| Digital Asset: Cryptocurrency – Bitcoin | 134% | $4.49B | +2.33% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XRP | Bitwise XRP ETF | 344% | $28.25M | +6.71% |
| EZBC | Franklin Bitcoin ETF | 231% | $14.62M | +2.37% |
| XRPZ | Franklin XRP ETF | 217% | $7.57M | +6.55% |
| BITO | ProShares Bitcoin ETF | 163% | $1.83B | +2.35% |
| ETHB | iShares Staked Ethereum Trust ETF | 151% | $14.30M | +2.00% |
Currencies
Currency ETF volume remained sluggish, posting $112.27M in trades (85% of ADV) with minimal intra-session 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
Alternative strategies saw moderate engagement, accumulating $1.01B in volume representing 91% of typical average daily levels. No significant outlier trends surfaced.
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.
Non-Traditional
Non-Traditional funds maintained relatively normal trading flows with $45.70B in volume (103% of ADV). Aggressive levered single-stock exposures—particularly tied to semiconductors and crypto—and options-based buffer strategies drove the bulk of outlier activity.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GAPR | FT Vest U.S. Equity Moderate Buffer Fund – Apr | 439% | $16.90M | +0.16% |
| CWEB | Direxion Daily CSI China Internet Index Bull 2X ETF | 317% | $48.54M | -8.34% |
| CRCA | ProShares Ultra CRCL | 253% | $171.00M | -3.53% |
| CONL | GraniteShares 2x Long COIN Daily ETF | 238% | $391.53M | +10.18% |
| YINN | Direxion Daily FTSE China Bull 3X ETF | 237% | $165.23M | -7.68% |
| NVDX | T-Rex 2X Long NVIDIA Daily Target ETF | 216% | $460.07M | +8.97% |
| JEPI | JPMorgan Equity Premium Income ETF | 215% | $646.41M | +0.10% |
| NVDU | Direxion Daily NVDA Bull 2X ETF | 210% | $135.40M | +8.97% |
| RKLX | Defiance Daily Target 2X Long RKLB ETF | 208% | $291.77M | +12.84% |
| SIXZ | AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF | 205% | $20.11M | +0.16% |
Multi-Asset
Multi-Asset ETFs demonstrated slightly elevated momentum, logging $244.05M in total volume, tracking at 107% of the 30-day average. A handful of targeted global macro and balanced strategies defined the session’s action.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AGOX | Adaptive Alpha Opportunities ETF | 816% | $23.96M | +0.42% |
| AOK | iShares Core 30/70 Conservative Allocation ETF | 178% | $12.02M | +0.11% |
| CGBL | Capital Group Core Balanced ETF | 166% | $64.60M | +0.50% |
