Fed Decision Day Leads to 1.5x Spike in Volumes

Macro Summary

The ETF market experienced a surge in trading activity, with total volume reaching $315.8B, an impressive 146% of its 30-day average. This significant uptick was overwhelmingly driven by the Equity asset class, which traded at 153% of its recent average. The epicenter of this activity was in U.S. Small Caps, where the blend category saw volumes explode to 232% of its average. This was exemplified by the iShares Russell 2000 ETF (IWM), which alone accounted for nearly $19B in volume, trading at almost 250% of its normal activity and signaling a powerful, focused interest in this segment of the market.

Explore the Live Asset Class Dashboard

Equity

The Equity asset class was the center of market activity, trading a massive $225.5B in volume, or 153% of its 30-day average. The standout was U.S. Small Caps, where the blend category traded at 232% of its average. Significant volume was also seen in U.S. Large Cap Value and Financials, which traded at 132% and 167% of their averages, respectively, indicating broad participation in the domestic market.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Fixed Income

The Fixed Income asset class saw an active session with $31.7B in volume, trading at 122% of its 30-day average. The most significant activity was in Bank Loans, which traded at 162% of average, and Long-Duration Government bonds at 143% of average. Municipal bonds also saw broad interest at 129% of their average volume.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Commodities

The Commodities asset class was exceptionally active, with $10.1B in volume, a significant 178% of its 30-day average. The primary driver was Precious Metals, where ETFs traded at 188% of their average volume, indicating a strong focus on this segment.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Crypto

The Digital Asset class saw $6.8B in volume, a slightly elevated session at 109% of its 30-day average. The activity was concentrated in Bitcoin ETFs, which traded at 120% of their average, while Ethereum funds saw a quieter day at 92% of their average volume.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Currencies

The Currency asset class saw a significant spike in activity, trading $123.8M in volume, which is 193% of its 30-day average. The increased volume was broadly distributed across the major currency pair ETFs.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Alternatives

The Alternatives asset class was notably active, trading $1.4B in volume, 147% of its 30-day average. The activity was highly concentrated in Volatility funds, which traded at 149% of their average, with both long and short strategies seeing elevated interest.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Non-Traditional

The Non-Traditional asset class saw $40.2B in volume, trading at a robust 136% of its 30-day average. The activity was concentrated in Leverage/Inverse products, particularly those focused on single stocks and broad equity indexes, which traded at 138% and 145% of their averages, respectively.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers

Multi-Asset

The Multi-Asset class saw a quiet day of trading with $128.7M in volume, which was 101% of its 30-day average. Activity was largely in line with recent trends across the various strategies in this asset class.

High-Volume Categories (>$100M Traded)

High-Activity Ticker Outliers