Macro Summary
The ETF market saw a relatively subdued session, with total trading volume reaching $285.9B, or just 104% of its 30-day average. This quiet surface, however, masked a significant pocket of volatility. Traders rushed into Alternative Absolute Return Event Driven strategies, which traded at an exceptional 367% of their average volume, finishing the day up +0.17%.
Asset Class Summary
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $191.7B | $183.9B | 104% |
| Fixed Income | $33.5B | $29.0B | 116% |
| Commodities | $9.4B | $13.7B | 69% |
| Crypto | $7.7B | $8.2B | 94% |
| Currencies | $87.2M | $74.3M | 117% |
| Alternatives | $1.2B | $1.4B | 91% |
| Non-Traditional | $42.0B | $39.0B | 108% |
| Multi-Asset | $185.4M | $171.5M | 108% |
Equity
The Equity asset class saw $191.7B in volume, trading at 104% of its 30-day average. Key drivers included the U.S. Large Cap – Value category (finishing the day -0.41%) and the Sector – Real Estate category (which closed up +0.32%). This activity was reflected in heavy turnover in tickers like WCMI (closing -0.83%) and MFSI (down -0.70%), which were among the day’s top outliers.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: U.S. Large Cap – Value | 135% | $9.4B | -0.41% |
| Equity: Sector – Real Estate | 150% | $2.3B | +0.32% |
| Equity: Global Large Cap – Blend | 154% | $1.5B | -0.70% |
| Equity: Region – Eurozone | 154% | $1.1B | -0.44% |
| Equity: Sector – Communication Services | 158% | $1.0B | -2.02% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| WCMI | First Trust WCM International Equity ETF | 1027% | $62.8M | -0.83% |
| MFSI | MFS Active International ETF | 862% | $46.2M | -0.70% |
| FTLS | First Trust Long/Short Equity ETF | 500% | $35.1M | -0.20% |
| AVDV | Avantis International Small Cap Value ETF | 419% | $270.8M | +0.30% |
| OAKM | Oakmark U.S. Large Cap ETF | 404% | $22.5M | -0.43% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Index Fund | 397% | $60.0M | -0.73% |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 368% | $36.3M | -1.28% |
| IXC | iShares Global Energy ETF | 367% | $56.8M | -2.26% |
| JIRE | JPMorgan International Research Enhanced Equity ETF | 350% | $117.4M | -0.68% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 345% | $371.1M | -0.11% |
Fixed Income
Fixed Income volume was elevated at $33.5B, representing 116% of its 30-day average. The primary drivers were the Fixed Income: Taxable – Corporate category (which fell -0.33% on the day) and Fixed Income: Taxable – Government Long (down -0.43%). This activity was evidenced by significant turnover in BBAG (closing -0.19%) and BBHY (down -0.28%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Corporate | 152% | $7.4B | -0.33% |
| Fixed Income: Taxable – Government Long | 129% | $5.3B | -0.43% |
| Fixed Income: Taxable – Core | 133% | $2.4B | -0.18% |
| Fixed Income: Municipal – Intermediate | 127% | $1.1B | -0.21% |
| Fixed Income: Taxable – Long-Term | 180% | $865.3M | -0.69% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BBAG | JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 1558% | $59.2M | -0.19% |
| BBHY | JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1401% | $39.2M | -0.28% |
| KORP | American Century Diversified Corporate Bond ETF | 735% | $22.4M | -0.41% |
| DRSK | Aptus Defined Risk ETF | 458% | $18.8M | -0.91% |
| TUA | Simplify Short Term Treasury Futures Strategy ETF | 480% | $23.2M | -0.11% |
| LEMB | iShares J.P. Morgan EM Local Currency Bond ETF | 400% | $10.9M | -0.08% |
| GTO | Invesco Total Return Bond ETF | 349% | $29.1M | -0.30% |
| DMBS | DoubleLine Mortgage ETF | 338% | $9.3M | -0.11% |
| SCHQ | Schwab Long-Term U.S. Treasury ETF | 313% | $36.8M | -0.43% |
| BSCP | Invesco Bulletshares 2025 Corporate Bond ETF | 270% | $43.7M | +0.02% |
Commodities
The Commodity asset class was quiet, trading $9.4B, just 69% of its 30-day average. No categories met the high-volume criteria. The most active individual ticker was COMT (closing +0.07%), which was the asset class’s only high-activity outlier.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| COMT | iShares U.S. ETF Trust iShares GSCI Commodity Dynamic Roll Strategy ETF | 308% | $11.1M | +0.07% |
Crypto
Digital Asset markets traded $7.7B, or 94% of their 30-day average, in a relatively average session. No categories met the high-volume criteria. Trading was led by high-activity outliers HODL (down -3.55%) and BITB (down -3.44%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| HODL | VanEck Bitcoin ETF | 183% | $121.4M | -3.55% |
| BITB | Bitwise Bitcoin ETF Trust | 166% | $220.0M | -3.44% |
Currencies
The Currency asset class saw $87.2M in volume, trading at 117% of its 30-day average. No categories or tickers met the high-activity outlier criteria.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| No high-activity ticker outliers for this asset class. | ||||
Alternatives
The Alternative asset class traded $1.2B, or 91% of its 30-day average. While no categories met the high-volume criteria (>$100M and >125% ADV), the most notable activity was seen in outlier tickers CTA (finishing +0.48%) and FLSP (up +0.13%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CTA | Simplify Managed Futures Strategy ETF | 383% | $38.6M | +0.48% |
| FLSP | Franklin Systematic Style Premia ETF | 154% | $4.4M | +0.13% |
Non-Traditional
The Non-Traditional asset class saw $42.0B in volume, or 108% of its 30-day average. The Non-Traditional: Leverage | Inverse – Fixed Income category was the primary high-volume driver, closing the day -0.03%. The most extreme activity was in single-stock leveraged funds, with METU (closing -23.10%) and FBL (down -23.20%) seeing massive turnover.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Fixed Income | 132% | $384.9M | -0.03% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| METU | Direxion Daily META Bull 2X Shares | 1419% | $1.2B | -23.10% |
| FBL | GraniteShares 2x Long META Daily ETF | 1076% | $547.0M | -23.20% |
| PDEC | Innovator U.S. Equity Power Buffer ETF – December | 440% | $14.7M | -0.20% |
| GGLL | Direxion Daily GOOGL Bull 2X Shares | 384% | $377.8M | +4.09% |
| BUFF | Innovator Laddered Allocation Power Buffer ETF | 344% | $19.2M | -0.23% |
| SFLR | Innovator Equity Managed Floor ETF | 246% | $21.2M | +0.18% |
| BUYW | Main BuyWrite ETF | 210% | $8.4M | -0.25% |
| SDS | ProShares UltraShort S&P500 | 200% | $607.3M | +1.58% |
| FEPI | REX FANG & Innovation Equity Premium Income ETF | 187% | $12.1M | -0.68% |
| CSHI | NEOS Enhanced Income 1-3 Month T-Bill ETF | 178% | $18.2M | +0.19% |
Multi-Asset
The Multi-Asset class traded $185.4M, or 108% of its 30-day average. No categories or tickers met the high-activity outlier criteria.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| No high-activity ticker outliers for this asset class. | ||||
