Macro Summary
Total ETF market volume was exceptionally light, reaching just $171.62 billion, a mere 69% of the 30-day average daily volume. The subdued tone was pervasive across nearly all asset classes, with equities, digital assets, and alternatives all trading at less than 70% of their recent norms. The clear exception was a concentrated burst of activity within Fixed Income, where specific core bond funds saw extraordinary turnover, bucking the broader market’s quiet summer trading day.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $112.63B | $166.35B | 68% |
| Fixed Income | $22.66B | $27.48B | 82% |
| Commodities | $6.25B | $5.93B | 105% |
| Digital Asset | $2.36B | $4.42B | 54% |
| Currencies | $63.1M | $112.1M | 56% |
| Alternatives | $397.7M | $729.7M | 54% |
| Non-Traditional | $27.10B | $44.83B | 60% |
| Multi-Asset | $160.6M | $222.7M | 72% |
| Total | $171.62B | $250.06B | 69% |
Equity
Equity ETFs saw a very quiet session, with total volume of $112.63 billion representing just 68% of the 30-day average. No specific equity categories experienced unusually high turnover. Activity was instead confined to a handful of specific funds trading on idiosyncratic catalysts. Notable outliers included Goldman Sachs ActiveBeta World Equity ETF (GSWO), which traded 1,714% of its average on $61.2M, and WisdomTree U.S. LargeCap Fund (EPS) at 673% of its ADV. Other funds with volume spikes included VictoryShares Free Cash Flow Growth ETF (GFLW) and Dimensional US Core Equity 1 ETF (DCOR), both trading over 500% of their 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 |
|---|---|---|---|---|
| GSWO | Goldman Sachs ActiveBeta World Equity ETF | 1,714% | $61.2M | -0.30% |
| EPS | WisdomTree U.S. LargeCap Fund | 673% | $22.4M | -0.32% |
| GFLW | VictoryShares Free Cash Flow Growth ETF | 615% | $32.4M | +0.18% |
| DCOR | Dimensional US Core Equity 1 ETF | 549% | $54.2M | -0.09% |
| CSRE | Cohen & Steers Real Estate Active ETF | 479% | $18.9M | -1.27% |
| LSGR | Natixis Loomis Sayles Focused Growth ETF | 436% | $11.2M | -0.74% |
| GSSC | TR Activebeta US Small Cap Equity ETF | 428% | $14.3M | +0.19% |
| KXI | iShares Global Consumer Staples ETF | 407% | $26.2M | -0.51% |
| SMDV | ProShares Russell 2000 Dividend Growers ETF | 354% | $23.6M | +0.42% |
| CPAI | Counterpoint Quantitative Equity ETF | 326% | $8.5M | -0.06% |
Fixed Income
Fixed Income was the session’s standout, logging $22.66 billion in volume, or 82% of its 30-day average. The headline number masks a massive concentration of activity in the Taxable Core Bond category, which traded at 145% of its recent norm. This was driven by two enormous block trades in Schwab Core Bond ETF (SCCR), which saw an incredible 3,678% of its average volume on $207.7M, and Capital Group Core Bond ETF (CGCB), which traded 2,348% of its ADV on a substantial $631.4M. Other notable activity was seen in iShares iBonds Dec 2033 Term Corporate ETF (IBDY) and PIMCO Enhanced Low Duration Active ETF (LDUR), both trading over 600% above their averages.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Core | 145% | $2.83B | +0.09% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SCCR | Schwab Core Bond ETF | 3,678% | $207.7M | +0.16% |
| CGCB | Capital Group Core Bond ETF | 2,348% | $631.4M | +0.38% |
| EVMO | Eaton Vance Mortgage Opportunities ETF | 736% | $23.1M | +0.03% |
| IBDY | iShares iBonds Dec 2033 Term Corporate ETF | 682% | $42.7M | +0.02% |
| LDUR | PIMCO Enhanced Low Duration Active ETF | 624% | $43.7M | -0.08% |
| MYCH | State Street My2028 Corporate Bond ETF | 391% | $20.4M | +0.06% |
| JEMB | Janus Henderson Emerging Markets Debt Hard Currency ETF | 372% | $10.6M | -0.29% |
| TAFM | AB Tax-Aware Intermediate Municipal ETF | 349% | $15.2M | +0.14% |
| CORB | AB Core Bond ETF | 335% | $8.9M | +0.17% |
| IBDT | iShares iBonds Dec 2028 Term Corporate ETF | 301% | $46.9M | -0.02% |
Commodities
Commodities ETFs traded $6.25 billion, a slightly elevated 105% of their 30-day average. The activity was not broad-based, but rather focused on a couple of specific funds. The iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) saw volume spike to 327% of its daily average. More significant in dollar terms was the SPDR Gold Minishares Trust (GLDM), which traded 201% of its norm on a hefty $564.5 million as gold prices softened.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CMDY | iShares Bloomberg Roll Select Commodity Strategy ETF | 327% | $14.8M | +0.12% |
| GLDM | SPDR Gold Minishares Trust of beneficial interest | 201% | $564.5M | -0.41% |
Digital Asset
Activity in the Digital Asset space was deeply subdued, with total volume of $2.36 billion amounting to only 54% of the 30-day average. The session was quiet across the board, with only one fund showing any notable deviation from its typical turnover. The Bitwise XRP ETF (XRP) traded 172% of its average, though this represented a minor $11.1 million in value.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XRP | Bitwise XRP ETF | 172% | $11.1M | +0.18% |
Currencies
Currency ETFs experienced a very quiet day, with total volume reaching just $63.1 million, or 56% of the recent 30-day average. No funds within the asset class registered trading activity significantly above their typical daily levels.
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
The Alternatives category saw muted trading, with volume of $397.7 million representing only 54% of its 30-day average. There were no high-volume categories or individual ticker outliers to note in a session marked by low investor engagement with 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.
Non-Traditional
Non-Traditional ETFs, primarily composed of leveraged, inverse, and buffered products, saw trading volume of $27.10 billion, a quiet 60% of their 30-day average. Despite the low overall volume, several leveraged funds saw notable activity. ProShares Ultra Dow30 (DDM) traded 493% of its ADV on $59.6M. Additionally, Innovator U.S. Equity Ultra Buffer ETF – January (UJAN) and the UBS AG ETRACS Silver Shares Covered Call ETN (SLVO) also saw turnover well above their recent norms.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DDM | ProShares Ultra Dow30 | 493% | $59.6M | -0.67% |
| UJAN | Innovator U.S. Equity Ultra Buffer ETF – January | 369% | $10.7M | -0.02% |
| SLVO | UBS AG ETRACS Silver Shares Covered Call ETNs due April 21; 2033 ETP 2022-21.04.33 on CS NQ Slv FLS106 Pr | 240% | $32.5M | -0.64% |
| OMAH | VistaShares Target 15 Berkshire Select Income ETF | 169% | $33.2M | -0.70% |
| QDPL | Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF | 164% | $8.9M | -0.37% |
| RKLX | Defiance Daily Target 2X Long RKLB ETF | 163% | $113.3M | -1.23% |
| CAIQ | Calamos Nasdaq Autocallable Income ETF | 153% | $8.6M | -0.39% |
| PAUG | Innovator U.S. Equity Power Buffer ETF – August | 153% | $10.9M | -0.09% |
Multi-Asset
Multi-Asset ETFs saw a quiet session with total volume of $160.6 million, approximately 72% of the 30-day average. Trading was balanced across the category, with no individual funds experiencing unusually high volume.
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.
Single-Stock Volume
Single-stock activity was highlighted by several extreme moves on company-specific news. Planet Green Holdings Corp. (PLAG) saw an astronomical surge, trading 37,664% of its average volume on $619.4M as its price soared +495.72%. On Holding AG (ONON) plummeted -20.15%, driving volume to 845% of its ADV on $1.31B; the stock is a constituent in 49 ETFs. Conversely, Sea Limited (SE) jumped +14.59%, with volume hitting 395% of its average on $1.93B in shares traded and is held by 113 ETFs. Other widely-held names with outsized volume included Riot Platforms, Inc. (RIOT) and Airbnb, Inc. (ABNB), which is held by 382 different ETFs.
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Holding |
|---|---|---|---|---|---|
| PLAG | Planet Green Holdings Corp. | 37,664% | $619.4M | +495.72% | — |
| ONON | On Holding AG Class A | 845% | $1.31B | -20.15% | 49 |
| SE | Sea Limited Sponsored ADR Class A | 395% | $1.93B | +14.59% | 113 |
| RIOT | Riot Platforms, Inc. | 387% | $1.46B | +3.58% | 101 |
| ACHR | Archer Aviation Inc Class A | 337% | $591.0M | +8.31% | 69 |
| P | Everpure, Inc. Class A | 277% | $523.4M | +11.77% | 205 |
| SIMO | Silicon Motion Technology Corporation Sponsored ADR | 234% | $615.9M | -3.11% | 40 |
| TSCO | Tractor Supply Company | 222% | $716.2M | +2.61% | 266 |
| ABNB | Airbnb, Inc. Class A | 211% | $1.31B | +0.27% | 382 |
| MELI | MercadoLibre, Inc. | 186% | $1.33B | +6.09% | 232 |
| NET | Cloudflare Inc Class A | 182% | $1.74B | -1.12% | 251 |
| KKR | KKR & Co Inc | 177% | $717.0M | +7.71% | 261 |
| SMCI | Super Micro Computer, Inc. | 163% | $2.02B | +8.58% | 246 |
| BX | Blackstone Inc. | 159% | $954.3M | +3.06% | 273 |
| TWLO | Twilio, Inc. Class A | 158% | $676.8M | +1.91% | 240 |
