Surge in Leveraged Single-Stock ETFs Drives Trading Activity 56% Above Average

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Macro Summary

The ETF market recorded $225.2B in total trading volume, representing 103% of the 30-day average. Trading activity was most elevated in Leveraged Single-Stock and Long-Duration Government Bond ETFs, which saw volumes reach 156% of their respective 30-day averages. Corporate Bond ETFs also saw heightened activity at 147% of their average. By total dollar volume, the most active categories were U.S. Large Cap Blend Equity ($63.1B), U.S. Large Cap Growth Equity ($32.6B), and Leveraged/Inverse Equity ($13.5B).

Explore the Live Asset Class Dashboard

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $152.7B $148.7B 103%
Fixed Income $28.7B $26.6B 108%
Commodities $5.5B $5.6B 99%
Crypto $6.3B $6.2B 102%
Currencies $58.6M $72.1M 81%
Alternatives $580.9M $1.1B 54%
Non-Traditional $31.1B $30.0B 104%
Multi-Asset $123.2M $124.9M 99%

Equity

The Equity asset class recorded $152.7B in total volume, representing 103% of its 30-day average. U.S. Small Cap Blend ETFs saw a notable surge in activity, trading 134% of their average volume. In contrast, several sectors like Consumer Staples and Global Large Cap saw volumes below their recent averages.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
U.S. Small Cap – Blend 134% $11.8B -1.07%
Thematic – Alternative Equity 135% $30.2M -0.55%
Region – Asia-Pacific Ex-Japan 128% $81.7M -0.25%
Region – Latin America 126% $61.8M -0.72%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
QUS SPDR MSCI USA StrategicFactors ETF 1108% $51.0M -0.49%
KCE SPDR S&P Capital Markets ETF 697% $25.7M -0.92%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 636% $20.5M +0.17%
INDY iShares India 50 ETF 552% $22.5M -0.14%
IXC iShares Global Energy ETF 487% $60.9M -0.49%
IEV iShares Europe ETF 411% $68.5M -0.35%
PWB Invesco Large Cap Growth ETF 366% $10.3M -0.27%
BITQ Bitwise Crypto Industry Innovators ETF 338% $17.5M +1.47%
DSPY Tema S&P 500 Historical Weight ETF Strategy 328% $13.1M -0.22%
OAKM Oakmark U.S. Large Cap ETF 318% $18.3M -0.04%

Fixed Income

The Fixed Income asset class traded $28.7B in volume, or 108% of its 30-day average. The primary driver of this above-average activity was the Taxable – Government Long category, which traded $6.9B, a significant 156% of its average volume. Taxable – Corporate bonds also experienced heightened interest, with volume reaching 147% of its average.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Taxable – Government Long 156% $6.9B -0.44%
Taxable – Corporate 147% $6.7B -0.13%
Specialty – Interest Rate Volatility 136% $51.0M -0.33%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF 623% $16.0M -0.03%
IEF iShares 7-10 Year Treasury Bond ETF 505% $3.5B -0.33%
MLN VanEck Long Muni ETF 409% $21.9M +0.09%
SUSC iShares ESG Aware USD Corporate Bond ETF 404% $15.0M -0.19%
VRP Invesco Variable Rate Preferred ETF 341% $30.5M -0.08%
LTPZ PIMCO 15+ Year US TIPS Index Exchange-Traded Fund 321% $9.8M -0.45%
VCIT Vanguard Intermediate-Term Corporate Bond ETF 312% $3.3B -0.22%
KORP American Century Diversified Corporate Bond ETF 264% $9.0M 0.00%
BSCP Invesco Bulletshares 2025 Corporate Bond ETF 252% $29.6M +0.02%
TFI SPDR Nuveen ICE Municipal Bond ETF 258% $47.9M -1.01%

Commodities

The Commodities asset class saw trading volume of $5.5B, in line with its 30-day average at 99%. While the broader class saw average activity, the niche Shipping Freight category saw volume spike to 465% of its average, though on a small base of $9.6M. The high-volume Precious Metals category, which traded $4.9B, saw activity right at its 30-day average.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PALL abrdn Physical Palladium Shares ETF 152% $39.2M +1.74%

Crypto

The Digital Asset class recorded $6.3B in volume, or 102% of its 30-day average. Activity was most concentrated in Solana ETFs, which traded 202% of their average volume, finishing the day up +6.29%. Bitcoin and Ethereum ETFs traded in line with their recent averages.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Category
No high-activity ticker outliers for this asset class.

Currencies

The Currency asset class registered $58.6M in total volume, representing a quieter session at 81% of its 30-day average.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Category
No high-activity ticker outliers for this asset class.

Alternatives

The Alternatives asset class saw subdued trading, with $580.9M in total volume, or 54% of its 30-day average. Activity was below average across all sub-categories.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Category
No high-activity ticker outliers for this asset class.

Non-Traditional

The Non-Traditional asset class saw $31.1B in volume, 104% of its 30-day average. Activity was heavily concentrated in the Leverage | Inverse – Single Stock category, which surged to 156% of its average volume on $12.1B traded. This category’s average 1-day return was +1.11%.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Leverage | Inverse – Single Stock 156% $12.1B +1.11%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PSEP Innovator U.S. Equity Power Buffer ETF – September 353% $36.5M -0.19%
TSLT T-REX 2X Long Tesla Daily Target ETF 354% $253.3M +14.53%
TSLR GraniteShares 2x Long TSLA Daily ETF 345% $132.0M +14.34%
TSLL Direxion Daily TSLA Bull 2X Shares 307% $4.6B +14.53%
IWMI NEOS Russell 2000 High Income ETF 275% $18.0M -0.47%
IDVO Amplify CWP International Enhanced Dividend Income ETF 226% $7.3M -0.50%
TSLY YieldMax TSLA Option Income Strategy ETF 208% $293.6M +4.73%
RSPA Invesco S&P 500 Equal Weight Income Advantage ETF 208% $7.3M -0.22%
AGQ ProShares Ultra Silver 204% $183.7M +2.66%
SOLT 2x Solana ETF 201% $262.8M +12.07%

Multi-Asset

The Multi-Asset class traded $123.2M in volume, which was 99% of its 30-day average. The Alternative Asset Sleeve category was a pocket of activity, trading at 148% of its average, while Target Risk categories saw more subdued volumes.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund 236% $8.5M +0.76%
AOK iShares Core 30/70 Conservative Allocation ETF 163% $5.2M -0.16%

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.

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