Macro Summary
The ETF market closed the session on February 6, 2026, with total volume reaching $358.2B, representing 116% of the 30-day average. The session was defined by an aggressive “risk-on” posture, led by explosive activity in Digital Assets and high-beta Equity sectors. While Fixed Income remained relatively anchored, speculative pockets in Non-Traditional and Digital Asset categories saw significant volume as investors reacted to dominant market themes.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $248.2B | $199.6B | 124% |
| Fixed Income | $31.9B | $31.0B | 103% |
| Commodity | $14.9B | $29.7B | 50% |
| Digital Asset | $10.6B | $6.9B | 154% |
| Currency | $110.2M | $104.7M | 105% |
| Alternative | $1.4B | $1.0B | 130% |
| Non-Traditional | $50.8B | $39.3B | 129% |
| Multi-Asset | $207.9M | $227.7M | 91% |
Equity
Equity ETFs dominated the session with $248.2B in volume (124% of ADV). Growth and Technology sectors led the charge, with Equity: Sector – Information Technology seeing volume double its average (201%). Global Large Cap Value and Evolving Consumer themes also saw significant participation.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Global Large Cap – Value | 347% | $147.4M | +1.82% |
| Equity: Thematic – Evolving Consumer | 231% | $1.8B | +2.23% |
| Equity: Sector – Information Technology | 201% | $18.0B | +4.41% |
| Equity: Sector – Consumer Discretionary | 194% | $3.0B | +1.01% |
| Equity: Global Ex-U.S. Small | Mid Cap | 168% | $498.2M | +1.98% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PABU | iShares Paris-Aligned Climate Optimized MSCI USA ETF | 1294% | $61.4M | +2.01% |
| GCOW | Pacer Global Cash Cows Dividend ETF | 1058% | $116.7M | +1.32% |
| EWN | iShares MSCI Netherlands ETF | 900% | $55.5M | +2.22% |
| JIVE | JPMorgan International Value ETF | 666% | $130.4M | +2.22% |
| DTH | WisdomTree International High Dividend Fund | 596% | $17.7M | +1.77% |
| DVYE | iShares Emerging Markets Dividend ETF | 550% | $40.0M | +1.29% |
| FDMO | Fidelity Momentum Factor ETF | 486% | $16.1M | +3.23% |
| PWB | Invesco Large Cap Growth ETF | 395% | $18.7M | +3.56% |
| FDN | First Trust Dow Jones Internet Index Fund | 389% | $372.9M | +0.94% |
| EWI | iShares MSCI Italy ETF | 378% | $77.1M | +0.56% |
Fixed Income
Fixed Income volume was $31.9B, roughly in line with the 30-day average. Emerging markets and inflation-protected categories saw the highest relative activity. Notably, Fixed Income: Taxable – Core Enhanced saw volume reach 150% of ADV, driven by heavy trading in IG credit ETFs.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Emerging | 172% | $224.6M | +0.29% |
| Fixed Income: Taxable – Core Enhanced | 150% | $895.0M | +0.03% |
| Fixed Income: Taxable – Inflation Protected | 144% | $1.1B | +0.06% |
| Fixed Income: Taxable – Government Short | 143% | $995.7M | -0.04% |
| Fixed Income: Taxable – Bank Loans | 134% | $793.5M | +0.19% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BBHY | JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1669% | $70.4M | +0.24% |
| PRIV | SPDR SSGA IG Public & Private Credit ETF | 1257% | $177.1M | -0.29% |
| GOVI | Invesco Equal Weight 0-30 Year Treasury ETF | 851% | $50.2M | +0.02% |
| STIP | iShares 0-5 Year TIPS Bond ETF | 433% | $591.4M | +0.05% |
| IEI | iShares 3-7 Year Treasury Bond ETF | 221% | $390.8M | -0.04% |
| JCPB | JPMorgan Core Plus Bond ETF | 203% | $102.9M | +0.03% |
| SHY | iShares 1-3 Year Treasury Bond ETF | 190% | $613.5M | -0.01% |
| EMLC | VanEck J. P. Morgan EM Local Currency Bond ETF | 189% | $182.7M | +0.63% |
| SRLN | State Street Blackstone Senior Loan ETF | 175% | $338.7M | +0.31% |
| IUSB | iShares Core Total USD Bond Market ETF | 171% | $237.6M | +0.08% |
Commodities
Commodity ETFs saw a quiet session with volume at 50% of the 30-day average ($14.9B). Precious Metals remained the volume anchor, while Shipping Freight and Agricultural niches saw isolated activity spikes.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DJP | iPath Bloomberg Commodity Index Total Return ETN | 351% | $17.4M | +0.79% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 160% | $28.4M | +0.77% |
| DBA | Invesco DB Agriculture Fund | 157% | $10.5M | -0.02% |
Digital Asset
Digital Assets exploded for $10.6B in volume, 154% of its 30-day average. Bitcoin-linked ETFs led the surge, with spot trusts seeing aggressive inflows as the underlying asset surged. Performance was exceptionally strong, with the asset class averaging a +10.8% daily return.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Bitcoin | 166% | $8.7B | +7.91% |
| Digital Asset: Cryptocurrency – Altcoin | 166% | $178.2M | +14.32% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| IBIT | iShares Bitcoin Trust ETF | 206% | $6.4B | +10.00% |
| BTC | Grayscale Bitcoin Mini Trust ETF | 170% | $247.8M | +10.09% |
Currencies
Currency ETFs remained steady with $110.2M in volume (105% of ADV). Swiss Franc trading showed notable relative strength as a safe-haven satellite amid the broader volatility.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXF | Invesco CurrencyShares Swiss Franc Trust | 222% | $35.2M | +0.43% |
Alternatives
The Alternatives asset class recorded $1.4B in volume, a 30% increase over ADV. Volatility-linked products were the primary drivers, with short volatility trades gaining traction as markets pushed higher.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Volatility – Short | 159% | $289.2M | +2.85% |
| Alternative: Volatility – Long | 126% | $1.0B | -6.58% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| UVIX | 2x Long VIX Futures ETF | 181% | $324.9M | -12.26% |
Non-Traditional
Non-Traditional ETFs saw heavy turnover of $50.8B (129% of ADV). Leverage and Inverse products targeting single stocks (NVDA, MSTR, AMZN) and Crypto saw massive volume as traders positioned for directional moves in high-beta names.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Crypto | 170% | $2.0B | +14.08% |
| Non-Traditional: Leverage | Inverse – Single Stock | 145% | $13.7B | +9.59% |
| Non-Traditional: Leverage | Inverse – Equity | 140% | $29.0B | +1.27% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AMZU | Direxion Daily AMZN Bull 2X Shares | 537% | $444.4M | -11.41% |
| MSTU | T-Rex 2X Long MSTR Daily Target ETF | 314% | $506.9M | +50.82% |
| SDS | ProShares UltraShort S&P 500 | 278% | $485.3M | -3.73% |
| SPXU | ProShares UltraPro Short S&P500 | 248% | $635.0M | -5.59% |
| USD | ProShares Ultra Semiconductors | 215% | $85.3M | +13.15% |
| QLD | ProShares Ultra QQQ | 213% | $750.4M | +4.05% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X Shares | 212% | $174.2M | +2.55% |
| BULZ | MicroSectors Solactive FANG & Innovation 3X Leveraged ETN | 200% | $124.6M | +7.39% |
| NVDX | T-Rex 2X Long NVIDIA Daily Target ETF | 219% | $323.8M | +15.71% |
| CONL | GraniteShares 2x Long COIN Daily ETF | 165% | $148.5M | +24.65% |
Multi-Asset
Multi-Asset ETFs tracked slightly below average volume at $207.9M (91% of ADV). Target Risk growth strategies saw the most relative interest as investors leaned into risk-on model allocations.
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.
Disclaimer: This AI-assisted commentary is for informational purposes only. The “High-Volume Categories” table includes categories with over $100M in volume and activity at least 125% of their 30-day average, limited to the top 5 by activity percentage. The “High-Activity Ticker Outliers” table shows the top 10 ETFs from each asset class, sorted by the highest trading activity versus their 30-day average. All reported ETFs have AUM over $250M and an ADV greater than $2.5M.
Disclosures: This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
