Macro Summary
Overall ETF market volume totaled $225.8B, trading at 82% of its 30-day average, indicating a broadly subdued session. The dominant theme, however, was a significant and concentrated surge in ‘Equity: Global Large Cap – Value’ funds, which traded at an exceptional 342% of their normal volume. This activity was almost entirely driven by heavy turnover in the iShares MSCI Global Min Vol Factor ETF (ACWV), which saw volumes spike to 501% of its 30-day average.
Asset Class Summary
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $148.1B | $185.2B | 80% |
| Fixed Income | $26.7B | $29.1B | 92% |
| Commodities | $9.7B | $13.0B | 74% |
| Crypto | $5.6B | $8.0B | 70% |
| Currencies | $38.2M | $77.0M | 50% |
| Alternatives | $895.9M | $1.3B | 67% |
| Non-Traditional | $34.7B | $37.9B | 91% |
| Multi-Asset | $160.0M | $161.4M | 99% |
Equity
Equity ETFs saw $148.1B in total volume, trading at 80% of their 30-day average. The day’s activity was concentrated in specific global and thematic pockets, with ‘Global Ex-U.S. Small | Mid Cap’ (304% vs avg) funds seeing exceptional turnover. Thematic categories like ‘FinTech’ (163%) and ‘Infrastructure’ (137%), along with ‘Sector – Energy’ (158%), also posted high-volume sessions. This was driven by significant outlier activity in tickers such as AVDV (593%), TOUS (538%), ACWV (501%), and BLOK (435%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Sector – Energy | 158% | $3.4B | +2.57% |
| Equity: Global Ex-U.S. Small | Mid Cap | 304% | $707.1M | +1.10% |
| Equity: Thematic – Infrastructure | 137% | $343.0M | +1.09% |
| Equity: Thematic – FinTech | 163% | $281.8M | +2.73% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AVDV | Avantis International Small Cap Value ETF | 593% | $288.5M | +1.48% |
| TOUS | T. Rowe Price International Equity ETF | 538% | $27.5M | +0.49% |
| IXC | iShares Global Energy ETF | 528% | $78.5M | +1.46% |
| ACWV | iShares MSCI Global Min Vol Factor ETF | 501% | $75.2M | -0.43% |
| BLOK | Amplify Blockchain Technology ETF | 435% | $124.6M | +2.48% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 401% | $28.6M | +3.80% |
| IWR | iShares Russell Midcap ETF | 314% | $464.9M | +0.86% |
| DFIS | Dimensional International Small Cap ETF | 313% | $52.1M | +1.03% |
| PWB | Invesco Large Cap Growth ETF | 282% | $16.4M | +1.41% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 278% | $242.6M | +0.87% |
Fixed Income
Fixed Income ETFs traded $26.7B, which was 92% of their 30-day average. The only category to show notable high-volume activity was ‘Fixed Income: Taxable – Short-Term’ (147% vs avg). Ticker-level activity was more pronounced, with several funds seeing significant turnover. The standout was LONZ (1387%), followed by SHYG (776%), IBHE (413%), and VNLA (407%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Short-Term | 147% | $1.5B | -0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| LONZ | PIMCO Senior Loan Active Exchange-Traded Fund | 1387% | $56.7M | -0.15% |
| SHYG | iShares 0-5 Year High Yield Corporate Bond ETF | 776% | $408.2M | +0.10% |
| IBHE | iShares iBonds 2025 Term High Yield & Income ETF | 413% | $13.5M | +0.09% |
| VNLA | Janus Henderson Short Duration Income ETF | 407% | $72.7M | -0.04% |
| FIIG | First Trust Intermediate Duration Investment Grade Corporate ETF | 405% | $18.7M | -0.91% |
| HYBB | iShares BB Rated Corporate Bond ETF | 373% | $19.6M | +0.08% |
| JMBS | Janus Henderson Mortgage-Backed Securities ETF | 355% | $86.8M | -0.21% |
| IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | 341% | $406.9M | -0.07% |
| DFNM | Dimensional National Municipal Bond ETF | 324% | $23.1M | -0.07% |
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | 321% | $71.8M | -1.18% |
Commodities
Commodity ETFs posted $9.7B in volume, trading at 74% of their 30-day average. Activity was concentrated in ‘Focused – Energy’ (153% vs avg) and ‘Multi-Sector – Broad Market’ (142% vs avg) categories. This was supported by above-average turnover in broad commodity funds like BCI (240%) and PDBC (171%), as well as the energy-focused USO (167%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Energy | 153% | $904.9M | +1.00% |
| Commodity: Multi-Sector – Broad Market | 142% | $236.3M | +1.05% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 240% | $39.4M | +1.12% |
| OUNZ | VanEck Merk Gold ETF | 177% | $85.8M | +0.23% |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 171% | $124.4M | +1.38% |
| USO | United States Oil Fund LP | 167% | $698.8M | +3.83% |
Crypto
Digital Asset ETFs traded $5.6B, at 70% of their 30-day average. Trading was subdued across the asset class, with no categories meeting the high-volume criteria and no individual tickers registering as high-activity outliers.
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
Currency ETFs saw $38.2M in volume, a quiet session at 50% of their 30-day average. No categories or individual tickers met the high-activity criteria.
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
Alternative ETFs traded $895.9M, operating at 67% of their 30-day average. Despite a small pocket of activity in Event Driven funds (161% vs avg), no categories met the high-volume ($100M) criteria, and no tickers registered as high-activity outliers.
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
Non-Traditional ETFs accounted for $34.7B in volume, trading at 91% of their 30-day average. While no specific categories met the high-volume threshold, significant ticker-level activity was present, particularly in Synthetic Income funds. Outliers included RSPA (520%), QQA (311%), and USOI (278%).
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 |
|---|---|---|---|---|
| RSPA | Invesco S&P 500 Equal Weight Income Advantage ETF | 520% | $22.0M | +0.28% |
| QQA | Invesco QQQ Income Advantage ETF | 311% | $15.9M | +0.67% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24; 2037 | 278% | $7.7M | +1.93% |
| DDM | ProShares Ultra Dow30 | 206% | $43.9M | +0.52% |
| TSLR | GraniteShares 2x Long TSLA Daily ETF | 188% | $149.9M | +4.18% |
| ULTY | YieldMax Ultra Option Income Strategy ETF | 186% | $339.1M | +1.12% |
| UCO | ProShares Ultra Bloomberg Crude Oil | 180% | $90.3M | +2.73% |
| TSLY | YieldMax TSLA Option Income Strategy ETF | 160% | $448.7M | +0.24% |
| TSYY | GraniteShares YieldBOOST TSLA ETF | 160% | $41.2M | +3.75% |
| SMCX | Defiance Daily Target 2X Long SMCI ETF | 158% | $161.6M | -16.39% |
Multi-Asset
Multi-Asset ETFs traded $160.0M, just shy of their 30-day average at 99%. No categories or individual tickers registered significant high-activity levels.
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. | ||||
