Macro Summary
The ETF market recorded a total trading volume of $303.3B for the session, representing a significant 117% of the 30-day average daily volume (ADV). Market participants displayed a strong preference for Commodities (183% of ADV) and Fixed Income (132% of ADV), suggesting a pivot toward defensive positioning and inflation-sensitive assets. Equity activity remained robust at 112% of ADV, though the primary narrative was one of sector rotation rather than broad-based conviction.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $201.0B | $178.9B | 112% |
| Fixed Income | $35.8B | $27.1B | 132% |
| Commodities | $24.4B | $13.3B | 183% |
| Digital Asset | $5.6B | $5.8B | 95% |
| Currencies | $95.2M | $69.8M | 136% |
| Alternatives | $868.8M | $854.2M | 102% |
| Non-Traditional | $35.4B | $32.1B | 110% |
| Multi-Asset | $231.1M | $192.9M | 120% |
Equity
The Equity asset class recorded $201.0B in volume, operating at 112% of its ADV. The session saw intense activity in the FinTech (270% ADV) and Industrial Revolution (200% ADV) categories. Notable ticker movement included BLOK (+2.76%) and ARKX (+1.78%).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – FinTech | 270% | $237.9M | +2.29% |
| Equity: Thematic – Industrial Revolution | 200% | $463.5M | +0.58% |
| Equity: Sector – Consumer Staples | 168% | $2.0B | -0.53% |
| Equity: Thematic – Evolving Consumer | 166% | $1.1B | -1.04% |
| Equity: Thematic – Natural Resources | 166% | $1.8B | -0.61% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RPV | Invesco S&P 500 Pure Value ETF | 837% | $152.1M | -1.16% |
| BLOK | Amplify Blockchain Technology ETF | 742% | $116.6M | +2.76% |
| AVLC | Avantis U.S. Large Cap Equity ETF | 698% | $28.0M | -0.07% |
| IYJ | iShares U.S. Industrials ETF | 674% | $58.3M | +0.49% |
| IXP | iShares Global Comm Services ETF | 647% | $31.8M | -0.57% |
| FEGE | First Eagle Global Equity ETF | 524% | $52.4M | -0.36% |
| IAT | iShares U.S. Regional Banks ETF | 498% | $46.3M | +0.35% |
| FIVA | Fidelity International Value Factor ETF | 422% | $19.8M | +0.06% |
| ARKX | ARK Space & Defense Innovation ETF | 407% | $88.5M | +1.78% |
| TUR | iShares MSCI Turkey ETF | 405% | $25.7M | +1.34% |
Fixed Income
Fixed Income trading surged to $35.8B (132% ADV). The Municipal – Short category was a primary outlier, trading at 567% of ADV, driven by substantial volume in JMST ($1.1B).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Municipal – Short | 567% | $1.3B | +0.01% |
| Fixed Income: Taxable – Bank Loans | 158% | $566.8M | +0.01% |
| Fixed Income: Taxable – Emerging USD | 155% | $975.4M | -0.05% |
| Fixed Income: Taxable – Long-Term | 154% | $754.2M | -0.37% |
| Fixed Income: Taxable – Government Long | 143% | $5.8B | -0.58% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| JMST | JPMorgan Ultra-Short Municipal Income ETF | 1388% | $1.1B | +0.16% |
| GIGB | Goldman Sachs Access Investment Grade Corporate Bond ETF | 1138% | $48.9M | -0.19% |
| SBIL | Simplify Government Money Market ETF | 508% | $41.8M | +0.03% |
| LEMB | iShares J.P. Morgan EM Local Currency Bond ETF | 480% | $40.8M | -0.08% |
| TUA | Simplify Short Term Treasury Futures Strategy ETF | 399% | $19.5M | -0.25% |
| PCY | Invesco Emerging Markets Sovereign Debt ETF | 360% | $23.4M | -0.18% |
| IBHG | iShares iBonds 2027 Term High Yield and Income ETF | 360% | $18.7M | +0.09% |
| DMBS | DoubleLine Mortgage ETF | 341% | $8.5M | -0.17% |
| EMHY | iShares J.P. Morgan EM High Yield Bond ETF | 323% | $11.6M | 0.00% |
| IBTL | iShares iBonds Dec 2031 Term Treasury ETF | 322% | $11.1M | -0.22% |
Commodities
Commodities experienced a heavy session with $24.4B in total volume (183% ADV). The Precious Metals category dominated, trading at 190% of its normal activity as gold and silver ETFs saw elevated flows.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Precious Metals | 190% | $23.7B | -1.36% |
| Commodity: Focused – Industrial Metals | 187% | $75.5M | -2.24% |
| Commodity: Specialty – Shipping Freight | 174% | $1.4M | +2.36% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| OUNZ | VanEck Merk Gold ETF | 284% | $111.6M | -0.49% |
| IAU | iShares Gold Trust | 247% | $1.7B | -0.43% |
| CPER | United States Copper Index Fund | 220% | $68.9M | -2.18% |
| BAR | GraniteShares Gold Shares | 204% | $59.0M | -0.45% |
Digital Asset
Digital Assets traded $5.6B, representing 95% of ADV. While the overall category was slightly below its average volume, Bitcoin ETFs saw concentrated interest in BRRR and BTCO.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BRRR | Coinshares Bitcoin ETF | 501% | $52.8M | +0.37% |
| BTCO | Invesco Galaxy Bitcoin ETF | 320% | $37.6M | +0.31% |
| EZBC | Franklin Bitcoin ETF | 248% | $36.2M | +0.33% |
Currencies
Currency ETFs traded at 136% of ADV ($95.2M). Increased activity was concentrated in safe-haven plays such as the Swiss Franc (FXF).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Currency | 136% | $95.2M | +0.03% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXF | Invesco CurrencyShares Swiss Franc Trust | 296% | $17.1M | +0.11% |
| FXE | Invesco CurrencyShares Euro Trust | 159% | $13.8M | +0.03% |
Alternatives
The Alternatives asset class traded $868.8M (102% ADV). Event-driven and multi-strategy absolute return categories saw relatively high activity levels despite the moderate overall asset class volume.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Absolute Return – Event Driven | 162% | $4.1M | -0.79% |
| Alternative: Absolute Return – Multi-Strategy | 144% | $10.7M | +0.06% |
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Non-Traditional
Non-Traditional ETFs recorded $35.4B in volume (110% ADV). Leverage/Inverse and Buffer strategies were highly utilized, with BJAN trading at a remarkable 1057% of its ADV.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Buffer – Equity | 189% | $645.0M | +0.03% |
| Non-Traditional: Leverage | Inverse – Commodity | 175% | $3.9B | +0.68% |
| Non-Traditional: Synthetic Income – Commodity | 143% | $61.1M | -0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BJAN | Innovator U.S. Equity Buffer ETF – January | 1057% | $30.1M | +0.04% |
| FJAN | FT Vest US Equity Buffer ETF – January | 546% | $16.7M | +0.14% |
| BUYW | Main BuyWrite ETF | 301% | $15.1M | +0.07% |
| MUU | Direxion Daily MU Bull 2X Shares | 273% | $360.9M | +15.38% |
| BULZ | MicroSectors Solactive FANG & Innovation 3X Leveraged ETN | 259% | $146.3M | +0.15% |
| IRE | Defiance Daily Target 2X Long IREN ETF | 234% | $256.6M | +22.78% |
| AGQ | ProShares Ultra Silver | 231% | $2.6B | -5.59% |
| CWEB | Direxion Daily CSI China Internet Index Bull 2x Shares | 231% | $31.8M | -3.91% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs | 211% | $24.8M | +0.41% |
| YINN | Direxion Daily FTSE China Bull 3X Shares | 205% | $150.1M | -5.39% |
Multi-Asset
Multi-Asset funds traded $231.1M (120% ADV). The Specialty – Real Assets category showed high activity (179% ADV), primarily driven by the VanEck Real Assets ETF (RAAX).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Specialty – Real Assets | 179% | $15.1M | -0.12% |
| Asset Allocation: Target Risk – Moderate | 148% | $23.5M | -0.07% |
| Asset Allocation: Target Risk – Conservative | 140% | $12.6M | -0.10% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RAAX | VanEck Real Assets ETF | 360% | $11.1M | +0.13% |
| AOM | iShares Core 40/60 Moderate Allocation ETF | 165% | $17.6M | -0.12% |
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 activity percentage. 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.
