Macro Summary
The market session exhibited balanced activity overall, with total trading volume reaching $258.93B, arriving at exactly 100% of the 30-day average. Fixed Income drove notable anomalous activity, trading at 124% of its historical average, while other major asset classes generally maintained muted or typical trading ranges.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $163.64B | $167.81B | 98% |
| Fixed Income | $35.89B | $28.98B | 124% |
| Commodities | $7.81B | $8.92B | 88% |
| Digital Asset | $3.13B | $4.28B | 73% |
| Currencies | $92.37M | $128.80M | 72% |
| Alternatives | $1.05B | $1.13B | 93% |
| Non-Traditional | $47.10B | $47.56B | 99% |
| Multi-Asset | $217.34M | $237.81M | 91% |
Equity
Equity volume reached $163.64B, trading at 98% of its 30-day average. Thematic Sustainability and Sector Materials categories drove anomalous localized activity, significantly outpacing historical volumes.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Sustainability | 178% | $533.01M | +1.94% |
| Equity: Sector – Materials | 173% | $1.04B | +1.76% |
| Equity: Thematic – Evolving Consumer | 158% | $991.41M | +1.35% |
| Equity: Region – Asia-Pacific Ex-Japan | 157% | $260.08M | +1.53% |
| Equity: Region – Eurozone | 141% | $894.72M | +1.88% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PWRD | TCW Transform Systems ETF | 1534% | $147.37M | +1.87% |
| AUSF | Global X Adaptive U.S. Factor ETF | 1224% | $50.70M | +0.51% |
| IYG | iShares US Financial Services ETF | 986% | $73.48M | +1.23% |
| AVIV | Avantis International Large Cap Value ETF | 982% | $107.49M | +1.36% |
| SPHQ | Invesco S&P 500 Quality ETF | 706% | $620.36M | +1.32% |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 599% | $668.89M | +1.34% |
| IYK | iShares U.S. Consumer Staples ETF | 596% | $116.05M | -0.32% |
| ILCG | iShares Morningstar Growth ETF | 559% | $46.44M | +1.54% |
| BDYN | iShares Dynamic Equity Active ETF | 468% | $43.20M | +1.16% |
| QLTY | GMO US Quality ETF | 447% | $90.64M | +1.09% |
Fixed Income
Fixed Income experienced elevated activity at 124% of its 30-day average on $35.89B in total volume. Municipal and Government duration strategies were key drivers of the outsized attention in this session.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Municipal – Long | 219% | $102.10M | +0.22% |
| Fixed Income: Taxable – Government Short | 204% | $1.22B | +0.18% |
| Fixed Income: Taxable – Government Long | 200% | $6.19B | +1.07% |
| Fixed Income: Taxable – International USD | 196% | $605.43M | +0.63% |
| Fixed Income: Taxable – Government Intermediate | 191% | $1.16B | +0.40% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| TAFM | AB Tax-Aware Intermediate Municipal ETF | 1946% | $55.65M | +0.10% |
| XFIV | BondBloxx Bloomberg Five Year Target Duration US Treasury ETF | 1416% | $45.72M | +0.44% |
| SCHQ | Schwab Long-Term U.S. Treasury ETF | 1080% | $192.81M | +0.99% |
| MLN | VanEck Long Muni ETF | 1020% | $38.17M | -0.20% |
| XTEN | BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 949% | $63.18M | +0.88% |
| BRTR | iShares Total Return Active ETF | 700% | $28.12M | +0.54% |
| MTBA | Simplify MBS ETF | 651% | $50.59M | +0.55% |
| SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | 620% | $53.99M | +0.12% |
| SCHO | Schwab Short-Term US Treasury ETF | 569% | $406.63M | +0.15% |
| INMU | iShares Intermediate Muni Income Active ETF | 522% | $20.92M | 0.00% |
Commodities
Commodities recorded a muted session with $7.81B in volume, representing 88% of historical activity. Energy-focused ETFs predominantly led the individual outlier activity on a subdued macro scale.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| OILK | ProShares K-1 Free Crude Oil ETF of Benef Interest | 188% | $21.43M | -3.80% |
| BNO | United States Brent Oil Fund LP | 185% | $421.13M | -5.46% |
| PIT | VanEck Commodity Strategy ETF | 171% | $4.55M | -2.31% |
| AAAU | Goldman Sachs Physical Gold ETF | 171% | $109.60M | +1.43% |
| OUNZ | VanEck Merk Gold ETF | 165% | $48.45M | +1.44% |
| DBO | Invesco DB Oil Fund | 165% | $35.12M | -4.47% |
Digital Asset
Digital Assets saw heavily compressed trading volumes at $3.13B, landing at 73% of their 30-day average. Institutional flows remained tight in the absence of fresh catalysts.
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 | 169% | $6.50M | +1.11% |
Currencies
Currency ETFs traded quietly with $92.37M in total volume, achieving only 72% of average daily activity without any distinct category or ticker outliers.
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.
Alternatives
Alternative strategies posted $1.05B in total volume, tracking slightly below average at 93%. Capital deployment remained distributed with no sharp concentrations reaching outlier thresholds.
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 products tracked typical historical levels with $47.10B in volume (99% of 30-day average), led by significantly elevated flows in Inverse Fixed Income and Equity Buffer categories.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Fixed Income | 217% | $382.82M | -0.17% |
| Non-Traditional: Buffer – Equity | 126% | $557.67M | +0.39% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SFLR | Innovator Equity Managed Floor ETF | 2763% | $221.07M | +0.83% |
| CWEB | Direxion Daily CSI China Internet Index Bull 2X ETF | 374% | $67.49M | -1.45% |
| FMAY | FT Vest U.S. Equity Buffer Fund – May | 308% | $9.89M | +0.63% |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | 304% | $123.36M | +0.93% |
| TBT | ProShares UltraShort 20+ Year Treasury | 255% | $45.14M | -2.19% |
| OVL | Overlay Shares Large Cap Equity ETF | 246% | $10.92M | +0.98% |
| AMDY | YieldMax AMD Option Income Strategy ETF | 207% | $29.85M | +6.88% |
| RSPA | Invesco S&P 500 Equal Weight Income Advantage ETF | 201% | $15.17M | +0.79% |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 193% | $136.59M | +11.30% |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X ETF | 186% | $223.59M | +3.09% |
Multi-Asset
Multi-Asset volumes were somewhat subdued at $217.34M (91% of 30-day average). Real Assets and Alternative Asset Sleeve ETFs captured the isolated bursts of targeted market activity.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RAAX | VanEck Real Assets ETF | 178% | $17.70M | -0.30% |
| RSST | Return Stacked U.S. Stocks & Managed Futures ETF | 174% | $4.95M | +0.60% |
| AOK | iShares Core 30/70 Conservative Allocation ETF | 151% | $10.88M | +0.77% |
