Macro Summary
Total ETF market volume registered $294.96 billion, almost perfectly in line with the 30-day average daily volume at 101% activity. The balanced headline figure masked notable divergences across asset classes, with Multi-Asset funds leading the way at 145% of their recent average. Currencies (117%) and Digital Assets (115%) also saw heightened interest from traders. In contrast, activity was muted in Fixed Income (91%) and particularly subdued in Alternatives, which saw just 63% of its typical volume.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $203.54B | $192.62B | 106% |
| Fixed Income | $26.03B | $28.66B | 91% |
| Commodities | $7.11B | $7.57B | 94% |
| Digital Asset | $5.41B | $4.71B | 115% |
| Currencies | $136.2M | $116.0M | 117% |
| Alternatives | $682.3M | $1.08B | 63% |
| Non-Traditional | $51.66B | $56.23B | 92% |
| Multi-Asset | $386.9M | $266.2M | 145% |
| Total | $294.96B | $291.25B | 101% |
Equity
Equity ETFs traded $203.54 billion, a slightly elevated 106% of their 30-day average. Thematic and sector funds drove much of the outsized activity, with Health Innovation (236%), Communication Services (181%), Infrastructure (171%), and Utilities (161%) all seeing significant turnover. Individual fund activity was led by extreme outliers, including Invesco S&P Ultra Dividend Revenue ETF (RDIV) at 1,685% of its average and iShares U.S. Infrastructure ETF (IFRA) at 1,051% of its typical volume. Other notable tickers included iShares U.S. Oil Equipment & Services ETF (IEZ) at 745% and Vanguard Russell 1000 ETF (VONE) at 708% of average.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Health Innovation | 236% | $239.8M | +0.75% |
| Equity: Sector – Communication Services | 181% | $1.25B | +0.73% |
| Equity: Thematic – Infrastructure | 171% | $1.10B | +0.87% |
| Equity: Sector – Utilities | 161% | $1.64B | +0.73% |
| Equity: Thematic – Midstream & MLPs | 136% | $194.3M | +0.42% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RDIV | Invesco S&P Ultra Dividend Revenue ETF | 1,685% | $65.2M | -0.14% |
| IFRA | iShares U.S. Infrastructure ETF | 1,051% | $157.5M | +0.70% |
| IEZ | iShares U.S. Oil Equipment & Services ETF | 745% | $80.5M | -2.63% |
| VONE | Vanguard Russell 1000 ETF | 708% | $167.0M | +0.76% |
| PINK | Simplify Health Care ETF | 663% | $30.7M | +0.03% |
| FEZ | State Street SPDR EURO STOXX 50 ETF | 485% | $516.2M | +1.19% |
| DTCR | Global X Data Center And Digital Infrastructure ETF | 444% | $180.6M | +2.11% |
| FXL | First Trust Technology AlphaDEX Fund | 376% | $17.9M | +2.17% |
| PPH | VanEck Pharmaceutical ETF | 365% | $83.8M | -1.63% |
| AVLC | Avantis U.S. Large Cap Equity ETF | 359% | $21.6M | +1.21% |
Fixed Income
Fixed Income ETFs experienced a quiet session, with total volume of $26.03 billion representing just 91% of the 30-day average. The lone bright spot at the category level was Taxable Corporate bond funds, which traded at 137% of their norm. The day’s most significant outlier was PIMCO 15+ Year US TIPS Index Exchange-Traded Fund (LTPZ), which saw an exceptional 1,124% of its average daily volume. Other funds with heightened activity included JPMorgan Flexible Debt ETF (JFLX) at 515% and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) at 496% of their respective averages.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Corporate | 137% | $5.57B | +0.23% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| LTPZ | PIMCO 15+ Year US TIPS Index Exchange-Traded Fund | 1,124% | $66.4M | +0.53% |
| JFLX | JPMorgan Flexible Debt ETF | 515% | $21.5M | +0.31% |
| BBHY | JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 496% | $12.6M | +0.24% |
| IBHH | iShares iBonds 2028 Term High Yield and Income ETF | 421% | $10.6M | +0.23% |
| TDTF | FlexShares iBoxx 5 Year Target Duration TIPS Index Fund | 343% | $14.9M | +0.36% |
| IBDW | iShares iBonds Dec 2031 Term Corporate ETF | 319% | $33.4M | +0.29% |
| IBHG | iShares iBonds 2027 Term High Yield and Income ETF | 272% | $11.6M | +0.11% |
| EVMO | Eaton Vance Mortgage Opportunities ETF | 270% | $7.6M | -0.08% |
| GCOR | Goldman Sachs Access U.S. Aggregate Bond ETF | 265% | $8.4M | +0.23% |
| JMBS | Janus Henderson Mortgage-Backed Securities ETF | 257% | $75.7M | +0.19% |
Commodities
Commodities ETFs saw a subdued trading day, with total volume reaching $7.11 billion, or 94% of the recent 30-day average. No specific categories posted outsized volume. Among individual funds, iShares S&P GSCI Commodity Indexed Trust (GSG) was a notable exception, trading at 233% of its average on $71.9M in volume. The iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) also saw above-average interest at 164% of its norm.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GSG | iShares S&P GSCI Commodity Indexed Trust | 233% | $71.9M | +0.25% |
| CMDY | iShares Bloomberg Roll Select Commodity Strategy ETF | 164% | $7.7M | -0.33% |
Digital Asset
Digital Asset ETFs posted an active session, with turnover of $5.41 billion equating to 115% of the 30-day average. While no specific categories stood out, several individual funds saw heightened trading. The ProShares Bitcoin ETF (BITO) led the complex with $2.76 billion in volume, representing 161% of its recent average. Smaller funds also saw increased interest, including the Invesco Galaxy Bitcoin ETF (BTCO) at 181% and the Coinshares Bitcoin ETF (BRRR) at 170% of their typical volumes.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BTCO | Invesco Galaxy Bitcoin ETF | 181% | $12.5M | -1.66% |
| BRRR | Coinshares Bitcoin ETF | 170% | $8.2M | -2.10% |
| BITO | ProShares Bitcoin ETF | 161% | $2.76B | -1.75% |
Currencies
Currency ETFs saw elevated trading activity, with volume of $136.2 million coming in at 117% of the 30-day average. The session’s focus was concentrated in specific funds rather than broad categories. The Invesco Currencyshares Japanese Yen Trust (FXY) was the standout, trading $34.3 million, or 393% of its typical daily volume. The Invesco CurrencyShares Swiss Franc Trust (FXF) also saw significant interest, with activity reaching 284% 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 |
|---|---|---|---|---|
| FXY | Invesco Currencyshares Japanese Yen Trust | 393% | $34.3M | -0.43% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | 284% | $15.9M | -0.44% |
Alternatives
It was an exceptionally quiet session for Alternatives ETFs, which registered just $682.3 million in volume, a mere 63% of the 30-day average. There were no high-volume categories or notable ticker outliers to report, indicating a broad lack of institutional or retail interest in the space during the day’s trading.
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, a category dominated by leveraged, inverse, and options-based strategies, saw a slightly below-average day with $51.66 billion in turnover, or 92% of the 30-day norm. Several single-stock leveraged products were highly active, including the GraniteShares 2x Long INTC Daily ETF (INTW) at 222% of its ADV and the GraniteShares 2x Long MRVL Daily ETF (MVLL) at 168%. Covered call strategies also saw interest, with ProShares S&P 500 High Income ETF (ISPY) trading at 305% 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 |
|---|---|---|---|---|
| ISPY | ProShares S&P 500 High Income ETF | 305% | $15.9M | +1.12% |
| SLVO | UBS AG ETRACS Silver Shares Covered Call ETNs due April 21; 2033 ETP 2022-21.04.33 on CS NQ Slv FLS106 Pr | 246% | $29.9M | -1.78% |
| INTW | GraniteShares 2x Long INTC Daily ETF | 222% | $563.0M | +20.50% |
| RYLD | Global X Russell 2000 Covered Call ETF | 187% | $15.0M | +0.91% |
| TBT | ProShares UltraShort 20+ Year Treasury | 183% | $38.6M | -0.83% |
| LABU | Direxion Daily S&P Biotech Bull 3X ETF | 180% | $190.0M | +3.14% |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | 179% | $170.7M | -4.18% |
| QYLD | Global X NASDAQ 100 Covered Call ETF | 177% | $192.0M | +2.57% |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 168% | $668.5M | +15.46% |
| PJAN | Innovator U.S. Equity Power Buffer ETF – January | 164% | $6.0M | +0.44% |
Multi-Asset
Multi-Asset ETFs were the day’s most active category, with total volume of $386.9 million representing a robust 145% of the 30-day average. The activity was heavily concentrated in the Target Risk – Growth category, which saw 254% of its typical volume. This was almost entirely driven by the Capital Group Core Balanced ETF (CGBL), which traded an impressive $244.6 million, or 312% of its recent daily average.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Target Risk – Growth | 254% | $263.8M | +0.87% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CGBL | Capital Group Core Balanced ETF | 312% | $244.6M | +0.94% |
Single-Stock Volume
Activity in single stocks was pronounced, with several names experiencing massive volume spikes. FreeCast, Inc. Class A (CAST) saw extraordinary turnover at 2,585% of its 30-day average on $847.7M in volume. Accenture Plc Class A (ACN) also saw heavy trading, with $4.17 billion changing hands, or 440% of its average. Other notable high-volume stocks included Marvell Technology, Inc. (MRVL), which traded a massive $25.29 billion (222% of ADV) and is tracked by 2 ETFs, and Western Digital Corporation (WDC) with $9.12 billion in turnover (233% of ADV).
High-Activity Single Stocks (vs 30-Day ADV)
| Stock | Name | Activity vs ADV | $ Volume | 1D Return | ETFs Tracking |
|---|---|---|---|---|---|
| CAST | FreeCast, Inc. Class A | 2,585% | $847.7M | +49.20% | — |
| ACN | Accenture Plc Class A | 440% | $4.17B | -18.12% | — |
| QS | QuantumScape Corporation Class A | 332% | $607.8M | +17.12% | 1 |
| MRNA | Moderna, Inc. | 306% | $1.11B | +3.07% | 2 |
| STRC | Strategy Inc 11.5% Perp Stretch PFD Registered Shs Series A | 268% | $943.6M | -0.17% | — |
| AZO | AutoZone, Inc. | 253% | $2.76B | +0.18% | — |
| CTSH | Cognizant Technology Solutions Corporation Class A | 252% | $1.13B | -10.54% | — |
| ROKU | Roku, Inc. Class A | 236% | $1.26B | +0.64% | — |
| WDC | Western Digital Corporation | 233% | $9.12B | +5.42% | 1 |
| KR | Kroger Co. | 233% | $1.01B | -8.38% | — |
| STLD | Steel Dynamics, Inc. | 225% | $597.8M | -7.45% | — |
| FOXA | Fox Corporation Class A | 224% | $656.8M | +1.60% | — |
| MRVL | Marvell Technology, Inc. | 222% | $25.29B | +7.73% | 2 |
| VRSK | Verisk Analytics, Inc. | 220% | $773.2M | -0.88% | — |
| TTWO | Take-Two Interactive Software, Inc. | 216% | $1.21B | +5.18% | — |
