Macro Summary
A muted overall session saw total trading volume track slightly below its 30-day average at $309.6B (93% of ADV). Despite subdued broad activity, pockets of high conviction emerged, particularly in Alternative strategies (155% of ADV) and targeted Equity sectors experiencing distinct rotation.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $218.49B | $218.88B | 100% |
| Fixed Income | $28.05B | $32.06B | 88% |
| Commodities | $18.62B | $29.54B | 63% |
| Digital Asset | $4.68B | $6.88B | 68% |
| Currencies | $120.8M | $116.8M | 103% |
| Alternatives | $2.01B | $1.30B | 155% |
| Non-Traditional | $37.43B | $42.15B | 89% |
| Multi-Asset | $211.0M | $241.6M | 87% |
Equity
Equity markets experienced robust activity levels, tracking effectively at their 30-day average with $218.5B in volume, though broad sentiment skewed negative (-0.99%). Financials and small-cap growth segments drove outsized participation in an otherwise balanced tape.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Sector – Financials | 162% | $7.60B | -2.90% |
| U.S. Small Cap – Growth | 159% | $518.5M | -1.50% |
| Region – Asia-Pacific Ex-Japan | 138% | $247.1M | -0.87% |
| Sector – Consumer Discretionary | 135% | $2.21B | -2.23% |
| Thematic – Infrastructure | 126% | $623.4M | -0.66% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SLYG | State Street SPDR S&P 600 Small Cap Growth ETF | 3181% | $345.2M | -1.72% |
| VONV | Vanguard Russell 1000 Value ETF | 1229% | $1.51B | -0.98% |
| FLTW | Franklin FTSE Taiwan ETF | 960% | $222.1M | -1.34% |
| QLC | FlexShares US Quality Large Cap Index Fund | 684% | $27.1M | -1.32% |
| KBWD | Invesco KBW High Dividend Yield Financial ETF | 452% | $20.6M | -2.90% |
| FTC | First Trust Large Cap Growth AlphaDEX Fund | 393% | $15.2M | -1.71% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 393% | $36.2M | -1.17% |
| GII | State Street SPDR S&P Global Infrastructure ETF | 384% | $11.7M | +0.28% |
| SLYV | State Street SPDR S&P 600 Small Cap Value ETF | 368% | $71.6M | -2.50% |
| VONG | Vanguard Russell 1000 Growth ETF | 366% | $1.34B | -1.31% |
Fixed Income
Fixed Income volume registered at $28.1B (88% of ADV), reflecting a relatively quiet session overall. High activity was notably concentrated within the Convertible and Bank Loans categories despite broadly muted flows across traditional durations.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Taxable – Convertible | 195% | $295.3M | -0.73% |
| Taxable – Bank Loans | 171% | $1.18B | -0.49% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| TFLR | T. Rowe Price Floating Rate ETF | 340% | $11.1M | -0.33% |
| VGLT | Vanguard Long-Term Treasury ETF | 305% | $461.1M | +0.37% |
| CWB | State Street SPDR Bloomberg Convertible Securities ETF | 230% | $149.0M | -0.60% |
| HTRB | Hartford Total Return Bond ETF | 225% | $47.3M | +0.22% |
| BKLN | Invesco Senior Loan ETF | 224% | $852.9M | -1.14% |
| LDUR | PIMCO Enhanced Low Duration Active ETF | 204% | $17.6M | +0.02% |
| HFSI | Hartford Strategic Income ETF | 203% | $14.1M | +0.27% |
| KORP | American Century Diversified Corporate Bond ETF | 183% | $8.3M | +0.05% |
| HYGV | FlexShares High Yield Value-Scored Bond Index Fund | 178% | $11.3M | -2.91% |
| ICVT | iShares Convertible Bond ETF | 171% | $144.4M | -0.63% |
Commodities
Commodity ETFs saw muted overall participation, logging $18.6B in volume (63% of ADV). The sector delivered positive broad market performance (+0.61%) despite the subdued directional flows.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 162% | $148.3M | +0.48% |
Digital Asset
Digital Asset activity was notably depressed, with volume tracking at just 68% of the 30-day average ($4.7B). Broad pressure was evident across the asset class, averaging a deep -5.15% return without producing any notable high-volume outliers.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|
No items met the inclusion criteria for this session.
Currencies
Currency ETFs tracked at a balanced 103% of their 30-day average, with volumes reaching $120.8M on an essentially flat average return profile (+0.07%).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXE | Invesco CurrencyShares Euro Trust | 212% | $38.0M | +0.05% |
Alternatives
Alternatives saw explosive engagement, trading at an impressive 155% of their average daily volume ($2.0B). This surge was overwhelmingly driven by Managed Futures strategies experiencing deeply outsized attention.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Absolute Return – Managed Futures | 1131% | $540.1M | +0.17% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DBMF | iMGP DBi Managed Futures Strategy ETF | 1859% | $517.5M | -0.08% |
Non-Traditional
Non-Traditional strategies observed a volume of $37.4B (89% of ADV), broadly pressured by negative performance (-1.27%). While overarching category volumes remained steady, Synthetic Income formats generated significant individual ticker engagement.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SDVD | FT Vest SMID Rising Dividend Achievers Target Income ETF | 936% | $32.6M | -2.31% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 624% | $29.9M | -1.47% |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | 329% | $254.2M | -4.66% |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | 321% | $56.5M | -0.28% |
| RDVI | FT Vest Rising Dividend Achievers Target Income ETF | 301% | $43.4M | -1.96% |
| FTHI | First Trust BuyWrite Income ETF | 271% | $44.1M | -1.26% |
| FAS | Direxion Daily Financial Bull 3x Shares | 222% | $251.4M | -9.59% |
| DGP | DB Gold Double Long Exchange Traded Notes | 194% | $29.8M | +5.50% |
| DPST | Direxion Daily Regional Banks Bull 3X Shares | 186% | $111.0M | -13.01% |
| MLPI | NEOS MLP & Energy Infrastructure High Income ETF | 179% | $21.8M | +0.62% |
Multi-Asset
Multi-Asset strategies exhibited quiet trading conditions, processing $211.0M in volume (87% of ADV) alongside broadly negative returns (-0.45%) on the session.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PCEF | Invesco CEF Income Composite ETF | 267% | $6.8M | -2.99% |
| HECA | Hedgeye Capital Allocation ETF | 155% | $11.0M | -0.51% |
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.
