Macro Summary
Total ETF market volume registered $241.66 billion, a subdued session at just 82% of the recent 30-day average. Trading was broadly quiet, with equities seeing particularly low turnover at 78% of their norm. Fixed Income activity was close to its average, while Commodities stood out with elevated volume, driven by a surge in the energy sector.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $155.26B | $199.38B | 78% |
| Fixed Income | $27.01B | $27.76B | 97% |
| Commodities | $7.03B | $6.77B | 104% |
| Digital Asset | $4.33B | $4.99B | 87% |
| Currencies | $68.7M | $118.5M | 58% |
| Alternatives | $810.2M | $874.6M | 93% |
| Non-Traditional | $46.96B | $53.55B | 88% |
| Multi-Asset | $192.2M | $257.9M | 75% |
| Total | $241.66B | $293.71B | 82% |
Equity
Equity ETFs experienced a quiet day, trading just $155.26 billion for 78% of their 30-day average volume. Despite the overall lull, several categories saw concentrated interest, including Consumer Discretionary at 156% of its norm and Financials at 130%. A few individual funds saw massive turnover, led by the ActivePassive U.S. Equity ETF (APUE) which traded over 38 times its average. Other notable outliers included the John Hancock Multifactor Developed International ETF (JHMD) and the iShares Global Energy ETF (IXC), with activity at 1,012% and 670% of their respective averages.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Sector – Consumer Discretionary | 156% | $2.15B | -1.62% |
| Equity: Global Ex-U.S. Small | Mid Cap | 152% | $501.3M | -0.77% |
| Equity: Region – Asia-Pacific Ex-Japan | 136% | $246.7M | +0.57% |
| Equity: U.S. Small Cap – Growth | 135% | $485.8M | -0.94% |
| Equity: Sector – Financials | 130% | $4.58B | -1.80% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| APUE | ActivePassive U.S. Equity ETF | 3,830% | $141.1M | -0.43% |
| JHMD | John Hancock Multifactor Developed International ETF | 1,012% | $27.0M | -0.75% |
| QUS | State Street SPDR MSCI USA StrategicFactors ETF | 966% | $25.4M | -0.71% |
| IXC | iShares Global Energy ETF | 670% | $347.2M | +1.58% |
| DBJP | Xtrackers MSCI Japan Hedged Equity ETF | 574% | $32.4M | -0.34% |
| PXF | Invesco RAFI Developed Markets ex-U.S. ETF | 371% | $26.5M | -0.51% |
| SPGP | Invesco S&P 500 GARP ETF | 368% | $25.1M | -1.24% |
| SMDV | ProShares Russell 2000 Dividend Growers ETF | 357% | $12.0M | -1.47% |
| PXH | Invesco RAFI Emerging Markets ETF | 352% | $25.6M | +1.37% |
| HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | 349% | $17.8M | +0.76% |
Fixed Income
Fixed Income volume was nearly perfectly aligned with recent trends, totaling $27.01 billion for 97% of its 30-day average. Pockets of heightened activity were seen in Emerging Market USD debt, which traded at 163% of its norm, alongside Defined Maturity and Intermediate Municipal bond funds. Specific ETFs with outsized volume included the John Hancock Core Bond ETF (JHCR) at 855% of its average and the WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) at 691%.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Emerging USD | 163% | $1.01B | -0.22% |
| Fixed Income: Specialty – Defined Maturity | 145% | $446.3M | -0.13% |
| Fixed Income: Municipal – Intermediate | 141% | $1.26B | -0.26% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| JHCR | John Hancock Core Bond ETF | 855% | $32.0M | -0.18% |
| AGGY | WisdomTree Yield Enhanced U.S. Aggregate Bond Fund | 691% | $36.5M | -0.20% |
| YEAR | AB Ultra Short Income ETF | 556% | $38.6M | -0.02% |
| CGUI | Capital Group Ultra Short Income ETF | 517% | $13.5M | -0.08% |
| XEMD | BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 431% | $33.5M | -0.20% |
| FTCB | First Trust Core Investment Grade ETF | 400% | $53.4M | +0.14% |
| IBTJ | iShares iBonds Dec 2029 Term Treasury ETF | 319% | $17.8M | -0.12% |
| FTRB | Federated Hermes Total Return Bond ETF | 316% | $8.4M | -0.22% |
| IBTK | iShares iBonds Dec 2030 Term Treasury ETF | 276% | $10.4M | -0.17% |
| EVMO | Eaton Vance Mortgage Opportunities ETF | 272% | $8.2M | -0.26% |
Commodities
Commodities were a bright spot for activity, trading $7.03 billion, or 104% of their recent average. The session was dominated by focused Energy products, which saw turnover at 192% of their norm. The United States Oil Fund LP (USO) traded more than double its usual volume at $1.49 billion. The Harbor Commodity All-Weather Strategy ETF (HGER) also saw a significant spike in interest, trading 575% of its average.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Energy | 192% | $1.75B | +2.42% |
| Commodity: Multi-Sector – Broad Market | 154% | $463.7M | +1.26% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| HGER | Harbor Commodity All-Weather Strategy ETF | 575% | $218.7M | +2.28% |
| USO | United States Oil Fund LP | 216% | $1.49B | +3.68% |
Digital Asset
Digital Asset ETFs saw a below-average session with $4.33 billion in total volume, representing 87% of the 30-day trend. Category-level activity was unremarkable. The only notable fund-level outlier was the Bitwise Solana Staking ETF (BSOL), which traded 174% of its typical 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 |
|---|---|---|---|---|
| BSOL | Bitwise Solana Staking ETF | 174% | $47.2M | -4.71% |
Currencies
Currency ETF activity was exceptionally light, with just $68.7 million changing hands, a mere 58% of the 30-day average. No specific categories or individual funds registered significant deviations from their typical trading patterns.
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 posted a quiet session, trading $810.2 million for 93% of their recent average volume. Activity was balanced across the asset class, with no specific categories or funds showing unusual turnover.
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 ETFs, which include leveraged, inverse, and buffered products, recorded $46.96 billion in volume, or 88% of their 30-day average. While no categories stood out, several individual ETFs saw heavy trading. The FT Vest U.S. Equity Moderate Buffer ETF – June (GJUN) traded over five times its norm. Other active funds included the Tradr 2X Long Innovation 100 Monthly ETF (MQQQ) and the ProShares Ultra Bloomberg Crude Oil (UCO), which saw volume spikes of 431% and 237%, respectively.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GJUN | FT Vest U.S. Equity Moderate Buffer ETF – June | 505% | $35.9M | -0.06% |
| MQQQ | Tradr 2X Long Innovation 100 Monthly ETF | 431% | $65.6M | +0.44% |
| TDVI | FT Vest Technology Dividend Target Income ETF | 273% | $8.4M | +0.60% |
| DDM | ProShares Ultra Dow30 | 250% | $24.4M | -2.36% |
| UCO | ProShares Ultra Bloomberg Crude Oil | 237% | $251.4M | +5.78% |
| SDVD | FT Vest SMID Rising Dividend Achievers Target Income ETF | 196% | $7.0M | -1.35% |
| SNDU | T-REX 2X Long SNDK Daily Target ETF | 174% | $208.3M | +11.12% |
| UWM | ProShares Ultra Russell2000 | 162% | $31.4M | -2.14% |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | 160% | $1.29B | +1.77% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 157% | $7.4M | +0.27% |
Multi-Asset
Multi-Asset ETFs saw subdued turnover at $192.2 million, just 75% of their recent daily average. The lone standout was the Return Stacked U.S. Stocks & Managed Futures ETF (RSST), which traded at 312% of its typical 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 |
|---|---|---|---|---|
| RSST | Return Stacked U.S. Stocks & Managed Futures ETF | 312% | $11.4M | -0.15% |
Single-Stock Volume
Several single stocks experienced exceptionally high trading volumes. Crinetics Pharmaceuticals Inc (CRNX) and Penguin Solutions Incorporation (PENG) led the way, trading 543% and 532% of their respective 30-day averages on over $1 billion in volume each. Mega-cap names also saw a surge, with Alibaba Group Holding Limited Sponsored ADR (BABA) trading $4.02 billion (331% of ADV) and Rivian Automotive, Inc. Class A (RIVN) trading $1.69 billion (310% of ADV). Other widely-held stocks with notable activity included Synchrony Financial (SYF) and Occidental Petroleum Corporation (OXY), held by 304 and 288 ETFs respectively.
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Holding |
|---|---|---|---|---|---|
| CRNX | Crinetics Pharmaceuticals Inc | 543% | $1.39B | +0.09% | 74 |
| PENG | Penguin Solutions Incorporation | 532% | $1.05B | +24.92% | 94 |
| BABA | Alibaba Group Holding Limited Sponsored ADR | 331% | $4.02B | +11.37% | 82 |
| RIVN | Rivian Automotive, Inc. Class A | 310% | $1.69B | +0.73% | 162 |
| SYF | Synchrony Financial | 236% | $559.5M | -9.43% | 304 |
| QXO | QXO, Inc. | 236% | $788.0M | -3.57% | 114 |
| OXY | Occidental Petroleum Corporation | 200% | $984.5M | +3.55% | 288 |
| VALE | Vale S.A. Sponsored ADR | 182% | $581.0M | -4.09% | 58 |
| CFG | Citizens Financial Group, Inc. | 178% | $515.8M | -4.51% | 283 |
| AKAM | Akamai Technologies, Inc. | 161% | $790.3M | +11.66% | 251 |
| BKR | Baker Hughes Company Class A | 153% | $726.2M | +5.00% | 345 |
| AAL | American Airlines Group Inc. | 150% | $2.80B | -4.07% | 111 |
