Macro Summary
Total ETF market volume was subdued, reaching $204.11 billion, which represents just 79% of the recent 30-day average daily volume. The session was characterized by divergent activity across asset classes. While major segments like Equity and Digital Assets experienced significantly below-average turnover, trading was concentrated in Commodities and Multi-Asset funds, which saw volume spike to 130% and 155% of their respective norms, suggesting targeted investor positioning in an otherwise quiet market.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $130.45B | $173.79B | 75% |
| Fixed Income | $25.11B | $27.26B | 92% |
| Commodities | $7.35B | $5.64B | 130% |
| Digital Asset | $2.30B | $4.69B | 49% |
| Currencies | $69.4M | $110.7M | 63% |
| Alternatives | $604.1M | $749.4M | 81% |
| Non-Traditional | $37.88B | $46.81B | 81% |
| Multi-Asset | $347.5M | $223.9M | 155% |
| Total | $204.11B | $259.28B | 79% |
Equity
Equity ETFs saw a very quiet day, with total volume of $130.45 billion translating to only 75% of the 30-day average. Despite the overall lull, certain categories attracted notable interest, including Eurozone equities (143% of ADV), Global Ex-U.S. Large Cap Value funds (139%), and Utilities sector ETFs (136%). Several individual funds experienced extreme turnover, led by the Xtrackers S&P 500 Scored & Screened ETF (SNPE) at 1,104% of its average, and the Cambria Emerging Shareholder Yield ETF (EYLD) at 967% of its typical volume.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Region – Eurozone | 143% | $535.8M | +0.07% |
| Equity: Global Ex-U.S. Large Cap – Value | 139% | $1.10B | +0.18% |
| Equity: Sector – Utilities | 136% | $1.30B | -0.44% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SNPE | Xtrackers S&P 500 Scored & Screened ETF | 1,104% | $179.9M | -0.14% |
| EYLD | Cambria Emerging Shareholder Yield ETF | 967% | $37.1M | +0.41% |
| GVAL | Cambria Global Value ETF | 767% | $40.0M | +0.04% |
| PTLC | Pacer Trendpilot US Large Cap ETF | 492% | $26.7M | -0.20% |
| GSEW | Goldman Sachs Equal Weight U.S. Large Cap Equity ETF | 473% | $33.3M | -0.38% |
| GSLC | TR Activebeta US Large Cap Equity ETF | 449% | $228.1M | -0.17% |
| FDD | First Trust Stoxx European Select Dividend Index Fund | 364% | $10.7M | +0.05% |
| IHAK | iShares Cybersecurity & Tech ETF | 340% | $36.9M | -0.36% |
| DGRW | WisdomTree US Quality Dividend Growth Fund | 332% | $168.2M | +0.11% |
| AVNM | Avantis All International Markets Equity ETF | 289% | $14.8M | -0.26% |
Fixed Income
Fixed Income ETF trading was nearly in line with recent trends, totaling $25.11 billion for 92% of its 30-day average volume. Activity was concentrated in specific niches, with Convertible bond funds trading at 148% of their average, followed by Single State Municipal (138%) and Defined Maturity (128%) categories. The session’s standout was the Invesco BulletShares 2028 Corporate Bond ETF (BSCS), which saw extraordinary volume at 998% of its norm. The Hartford Total Return Bond ETF (HTRB) also saw a significant spike in activity, trading 665% of its average.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Convertible | 148% | $203.9M | -1.10% |
| Fixed Income: Municipal – Single State | 138% | $132.8M | -0.07% |
| Fixed Income: Specialty – Defined Maturity | 128% | $396.0M | -0.14% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BSCS | Invesco BulletShares 2028 Corporate Bond ETF | 998% | $105.9M | -0.05% |
| HTRB | Hartford Total Return Bond ETF | 665% | $38.7M | -0.33% |
| JCPI | JPMorgan Inflation Managed Bond ETF | 542% | $14.6M | +0.12% |
| XFIV | BondBloxx Bloomberg Five Year Target Duration US Treasury ETF | 509% | $25.1M | -0.25% |
| MUNY | Vanguard New York Tax-Exempt Bond ETF | 428% | $23.1M | +0.01% |
| NYF | iShares New York Muni Bond ETF | 387% | $29.1M | +0.01% |
| PTRB | PGIM Total Return Bond ETF | 349% | $20.8M | -0.26% |
| XAGG | Eaton Vance Income Opportunities ETF | 309% | $36.8M | -0.15% |
| CGSD | Capital Group Short Duration Income ETF | 249% | $28.8M | -0.16% |
| SHYM | iShares Short Duration High Yield Muni Active ETF | 245% | $10.3M | -0.16% |
Commodities
Commodities were a key area of activity, with the asset class trading $7.35 billion, or 130% of its 30-day average. The interest was broad-based, as both Broad Market multi-sector funds (150% of ADV) and Precious Metals products (140%) saw elevated turnover. The widely-held SPDR Gold Shares (GLD) traded a heavy $3.75 billion at 155% of its average. Other notable movers included the Harbor Commodity All-Weather Strategy ETF (HGER) at 262% of its norm and the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 186%.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Multi-Sector – Broad Market | 150% | $526.4M | +0.77% |
| Commodity: Focused – Precious Metals | 140% | $5.88B | -0.17% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| HGER | Harbor Commodity All-Weather Strategy ETF | 262% | $139.9M | +0.66% |
| BAR | GraniteShares Gold Shares | 239% | $18.3M | +0.02% |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 186% | $256.8M | +1.82% |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | 184% | $480.7M | -0.12% |
| UNG | United States Natural Gas Fund LP | 161% | $125.7M | -1.19% |
| SIVR | abrdn Physical Silver Shares ETF | 155% | $78.2M | -0.66% |
| GLD | SPDR Gold Shares | 155% | $3.75B | -0.12% |
Digital Asset
The Digital Asset space was exceptionally quiet, with volume of $2.30 billion representing just 49% of the 30-day average. Activity was muted across the category with no specific themes driving turnover. The only fund to see significantly higher-than-average volume was the Morgan Stanley Bitcoin Trust ETF (MSBT), which traded 170% of its typical daily 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 |
|---|---|---|---|---|
| MSBT | Morgan Stanley Bitcoin Trust ETF | 170% | $14.9M | -0.70% |
Currencies
Currency ETFs saw a quiet session with total volume of only $69.4 million, or 63% of the 30-day average. There were no categories or individual funds with notable activity, indicating a general lack of catalysts or investor interest in the space.
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 ETFs traded $604.1 million, a below-average session at 81% of the 30-day norm. The asset class lacked a clear theme, with most funds trading near or below their typical volumes. The one exception was the First Trust Multi-Strategy Alternative ETF (LALT), which saw a notable pickup in trading at 188% of its average.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| LALT | First Trust Multi-Strategy Alternative ETF | 188% | $14.3M | +0.21% |
Non-Traditional
Non-Traditional ETFs, which include leveraged, inverse, and defined outcome products, posted volume of $37.88 billion, or 81% of their 30-day average. While overall activity was subdued, several defined outcome funds saw heightened interest, including the Innovator U.S. Equity Power Buffer ETF – August (PAUG) at 268% of its ADV. The leveraged ProShares Ultra Gold (UGL) also saw increased turnover at 167% of its norm, trading in sympathy with the broader commodities complex.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PAUG | Innovator U.S. Equity Power Buffer ETF – August | 268% | $16.3M | -0.13% |
| BUFQ | FT Vest Laddered Nasdaq Buffer ETF | 202% | $10.5M | -0.05% |
| BUFF | Innovator Laddered Allocation Power Buffer ETF | 199% | $9.4M | -0.02% |
| OMAH | VistaShares Target 15 Berkshire Select Income ETF | 171% | $31.1M | -0.35% |
| UGL | ProShares Ultra Gold | 167% | $123.4M | -0.29% |
| ACYN | FT Vest Laddered Autocallable Barrier & Income ETF | 164% | $61.2M | -0.29% |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | 153% | $84.3M | -0.15% |
Multi-Asset
Multi-Asset ETFs were a significant outlier, with trading volume of $347.5 million surging to 155% of the 30-day average. This heightened activity was driven almost entirely by the Global Macro target risk category, which experienced a massive surge in turnover, trading at 646% of its recent average. This suggests a specific, strategic interest in funds employing broad, top-down asset allocation strategies.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Target Risk – Global Macro | 646% | $169.3M | -0.13% |
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Single-Stock Volume
Activity in single stocks was marked by several extreme movers. Wing Yip Food Holdings Group Limited Sponsored ADR (WYHG) saw astronomical volume at over 86,000% of its 30-day average. Other notable names included ClearOne, Inc. (CLRO) at 970% of ADV and Chime Financial, Inc. Class A (CHYM) at 811% of its average on over $1 billion in turnover. Several widely-held stocks also saw heavy trading, including Honeywell Aerospace Inc (HONA), a constituent in 291 ETFs, which traded 436% of its average volume, and Datadog, Inc. Class A (DDOG), held by 418 ETFs, which saw volume reach 303% of its norm.
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Holding |
|---|---|---|---|---|---|
| WYHG | Wing Yip Food Holdings Group Limited Sponsored ADR | 86,017% | $504.8M | +168.69% | — |
| CLRO | ClearOne, Inc. | 970% | $590.8M | +155.73% | 2 |
| CHYM | Chime Financial, Inc. Class A | 811% | $1.03B | +20.18% | 59 |
| U | Unity Software, Inc. | 678% | $1.61B | +14.61% | 114 |
| PAYC | Paycom Software, Inc. | 664% | $799.4M | +25.14% | 159 |
| INSM | Insmed Incorporated | 510% | $1.50B | +33.31% | 166 |
| HUBS | HubSpot, Inc. | 501% | $1.68B | -19.21% | 186 |
| BROS | Dutch Bros, Inc. Class A | 443% | $823.5M | -18.70% | 103 |
| HONA | Honeywell Aerospace Inc | 436% | $3.03B | -23.33% | 291 |
| CELH | Celsius Holdings, Inc. | 432% | $1.01B | -18.17% | 112 |
| CACI | CACI International Inc Class A | 395% | $505.7M | +21.30% | 139 |
| CLS | Celestica Inc. | 342% | $2.71B | -13.06% | 8 |
| SOUN | SoundHound AI, Inc Class A | 308% | $609.9M | +9.95% | 55 |
| DDOG | Datadog, Inc. Class A | 303% | $3.28B | -18.63% | 418 |
| MELI | MercadoLibre, Inc. | 295% | $2.01B | -4.81% | 232 |
