Goldman Sachs Equal Weight ETF (GSEW) Sees 88x Volume Spike – $309 Million

Posted on by ETF Action
Share

Macro Summary

Total ETF market volume settled near its recent average today, with over $226.2B traded, representing 99% of the 30-day average. The day’s most significant activity was concentrated in the Commodities space, where focused industrial metals ETFs saw a dramatic surge in trading, reaching 333% of their average daily volume. This spike, alongside elevated interest in thematic equity categories like natural resources and precious metals miners, suggests a market focus on hard assets and industrial inputs. Equity trading was slightly elevated at 101% of its average, while Fixed Income saw quieter activity at 92%.

Explore the Live Asset Class Dashboard

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $159.6B $158.2B 101%
Fixed Income $24.3B $26.3B 92%
Commodities $7.6B $6.2B 123%
Crypto $3.8B $6.2B 60%
Currencies $59.7M $65.0M 92%
Alternatives $760.7M $942.1M 81%
Non-Traditional $30.0B $30.1B 99%
Multi-Asset $153.9M $122.4M 126%

Equity

The Equity asset class saw slightly elevated turnover, trading $159.6B, or 101% of its 30-day average. Thematic ETFs were a key driver of this activity, particularly within Industrial Revolution, Natural Resources, and Precious Metals categories. This was evidenced by high turnover in specific ETFs like COPX and GSEW, which saw activity surge to 391% and 8842% of their respective averages.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Thematic – Precious Metals 143% $2.9B -2.34%
Equity: Thematic – Natural Resources 184% $1.1B +0.53%
Equity: Thematic – Industrial Revolution 179% $269.9M -0.88%
Equity: Thematic – FinTech 133% $131.8M +0.91%
Equity: Sector – Energy 135% $2.6B +1.37%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 8842% $309.8M -0.93%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 724% $116.0M -0.82%
WTAI WisdomTree Artificial Intelligence and Innovation Fund 491% $18.2M -0.71%
CQQQ Invesco China Technology ETF 435% $258.5M +2.41%
DFSU Dimensional US Sustainability Core 1 ETF 421% $17.3M -0.46%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 398% $18.4M -1.46%
COPX Global X Copper Miners ETF 391% $250.0M +3.36%
EZM WisdomTree U.S. MidCap Fund 372% $11.7M -0.28%
EWJV iShares MSCI Japan Value ETF 368% $13.7M -0.52%
AIQ Global X Artificial Intelligence & Technology ETF 365% $234.0M +0.01%

Fixed Income

The Fixed Income space was relatively subdued, with total volume of $24.3B reaching 92% of its 30-day average. The primary area of above-average interest was in Taxable Corporate bonds, which traded 118% of their typical volume. This was driven by notable activity in ETFs like DGCB and QLTA, which saw turnover at 435% and 261% of their respective daily averages, indicating focused institutional trading in the credit space.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Fixed Income: Taxable – Emerging 125% $102.3M -0.26%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
DGCB Dimensional Global Credit ETF 435% $12.3M -0.19%
DFGP Dimensional Global Core Plus Fixed Income ETF 304% $23.3M -0.14%
QLTA iShares Aaa-A Rated Corporate Bond ETF 261% $25.7M -0.25%
SPMB SPDR Portfolio Mortgage Backed Bond ETF 224% $45.7M -0.11%
JBND JPMorgan Active Bond ETF 217% $64.8M -0.16%
ANGL VanEck Fallen Angel High Yield Bond ETF 208% $29.8M -0.19%
JPIE JPMorgan Income ETF 209% $91.3M -0.03%
LTPZ PIMCO 15+ Year US TIPS Index Exchange-Traded Fund 190% $6.7M -0.35%
BOXX Alpha Architect 1-3 Month Box ETF 185% $200.0M +0.03%
GOVI Invesco Equal Weight 0-30 Year Treasury ETF 184% $14.7M -0.30%

Commodities

Commodities were a hotbed of activity, with trading volume hitting $7.6B, a significant 123% of the 30-day average. The standout was the Focused Industrial Metals category, which exploded with activity at 333% of its norm. Precious Metals also saw heavy trading, with turnover at 126% of average, largely driven by high-volume sessions in broad-based ETFs like SLV.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Commodity: Focused – Precious Metals 126% $7.0B -0.59%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
HGER Harbor All-Weather Inflation Focus ETF 193% $13.7M +0.29%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF 194% $18.5M +0.21%
FGDL Franklin Responsibly Sourced Gold ETF 152% $8.4M -0.85%
SLV iShares Silver Trust 160% $1.3B -0.34%

Crypto

Digital Assets experienced a quiet day with total volume reaching $3.8B, just 60% of the 30-day average. The only area to show unusual life was the Multicoin category, which traded at an impressive 325% of its average volume, though the absolute dollar amount remained modest. Trading in mainstream assets like Bitcoin and Ethereum was well below recent norms.

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.

Currencies

The Currency ETF market saw below-average activity, with $59.7M in total volume, representing 92% of its 30-day average. No specific categories or tickers registered unusually high turnover.

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 Alternatives asset class traded $760.7M, which was 81% of its 30-day average. Activity was broadly subdued across all categories, with no significant volume or ticker-level outliers to note.

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.

Non-Traditional

The Non-Traditional space saw volumes align closely with recent trends, trading $30.0B, or 99% of its 30-day average. The standout activity was in Equity Buffer ETFs, which traded at 160% of their average daily volume. This was heavily influenced by exceptional turnover in specific tickers like FJUL and FNOV, which saw volume spikes of 2001% and 1448% respectively, pointing to significant hedging or defined-outcome positioning by investors.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Buffer – Equity 160% $609.8M -0.08%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
FJUL FT Vest U.S. Equity Buffer ETF – July 2001% $55.7M -0.16%
FNOV FT Vest U.S. Equity Buffer ETF – November 1448% $36.2M -0.03%
GSEP FT Vest U.S. Equity Moderate Buffer ETF – September 1182% $58.0M -0.13%
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares 279% $44.1M +4.70%
SMCY YieldMax SMCI Option Income Strategy ETF 254% $41.9M -0.22%
IGLD FT Vest Gold Strategy Target Income ETF 211% $7.9M +1.74%
BALI iShares Advantage Large Cap Income ETF 206% $7.8M -0.36%
CWVX Tradr 2X Long CRWV Daily ETF 205% $236.2M +3.87%
AMZU Direxion Daily AMZN Bull 2X Shares 202% $120.4M -0.28%
YMAG YieldMax Magnificent 7 Fund of Option Income ETFs 154% $18.1M -0.03%

Multi-Asset

The Multi-Asset category saw heightened interest, with total volume of $153.9M representing 126% of its 30-day average. The activity was concentrated in Target Risk strategies, particularly within Global Macro and Growth-oriented allocation ETFs. This was highlighted by significant turnover in AOR, which traded 243% of its average volume.

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
AOR iShares Core 60/40 Balanced Allocation ETF 243% $31.7M -0.41%

Disclaimer: This AI-assisted commentary is for informational purposes only. The “High-Volume Categories” table includes categories with over $100M in volume and activity at least 125% of their 30-day average, limited to the top 5 by volume. The “High-Activity Ticker Outliers” table shows the top 10 ETFs from each asset class, sorted by the highest trading activity versus their 30-day average. All reported ETFs have AUM over $250M and an ADV greater than $2.5M.

Disclosures: This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.

Related Posts