Daily Snapshot: Niche Fixed Income Surge Defies Quiet Trading Day

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Macro Summary

Total ETF trading volume registered $236.7B on Monday, representing 86% of the 30-day average. The day’s activity was defined by an exceptionally anomalous surge in a niche corner of the market: Non-Traditional Buffer – Fixed Income. This category (which finished the day down -0.31%) traded at an extraordinary 854% of its average volume. This activity contributed to a broader theme of elevated turnover in Fixed Income, which as an asset class traded at 131% of its 30-day average. In contrast, Equity markets remained subdued, trading at just 81% of their recent average.

Asset Class Summary

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $148.3B $183.7B 81%
Fixed Income $38.7B $29.5B 131%
Commodity $5.8B $13.7B 42%
Digital Asset $7.7B $8.3B 93%
Currency $103.5M $74.0M 140%
Alternative $955.5M $1.4B 69%
Non-Traditional $35.0B $39.5B 89%
Multi-Asset $170.3M $174.3M 98%

Equity

The Equity asset class recorded $148.3B in turnover, trading at 81% of its 30-day average. Elevated activity was led by the Health Care category (closing -0.30%). Separately, exceptional individual ticker activity was seen in IYM (closing -0.92%) from the Materials category.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Sector – Health Care 126% $4.1B -0.30%
Equity: Sector – Consumer Staples 135% $1.4B -0.32%
Equity: Sector – Materials 222% $1.2B -0.88%
Equity: Global Ex-U.S. Small | Mid Cap 209% $656.1M -0.15%
Equity: Thematic – Sustainability 161% $258.1M +0.29%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
IYM iShares U.S. Basic Materials ETF 3219% $182.4M -0.92%
IDU iShares U.S. Utilities ETF 1033% $155.4M -0.04%
EEMA iShares MSCI Emerging Markets Asia ETF 822% $31.5M +0.63%
VONV Vanguard Russell 1000 Value ETF 801% $499.2M -0.25%
IYC iShares U.S. Consumer Discretionary ETF 788% $173.8M +0.46%
XSW State Street SPDR S&P Software & Services ETF 643% $17.4M -0.12%
EMGF iShares Emerging Markets Equity Factor ETF 598% $26.2M +0.61%
IYF iShares U.S. Financials ETF 549% $234.7M -0.26%
VDC Vanguard Consumer Staples ETF 435% $119.8M -0.31%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 388% $205.5M +0.25%

Fixed Income

The Fixed Income asset class recorded $38.7B in turnover, trading at 131% of its 30-day average. Elevated activity was led by the Corporate category (closing -0.48%). Separately, exceptional individual ticker activity was seen in XEMD (closing -0.48%) from the Emerging USD category.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Fixed Income: Taxable – Corporate 145% $7.3B -0.48%
Fixed Income: Taxable – High Yield 131% $6.7B -0.56%
Fixed Income: Taxable – Government Ultrashort 168% $5.8B -0.22%
Fixed Income: Taxable – Ultrashort 125% $1.7B -0.20%
Fixed Income: Taxable – Emerging USD 138% $1.0B -0.58%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF 2045% $60.4M -0.48%
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF 757% $417.2M -0.35%
IBND SPDR Bloomberg International Corporate Bond ETF 624% $30.1M -0.52%
BSCU Invesco BulletShares 2030 Corporate Bond ETF 413% $31.6M -0.09%
EBND SPDR Bloomberg Emerging Markets Local Bond ETF 392% $26.1M -0.38%
FALN iShares Fallen Angels USD Bond ETF 387% $101.0M -0.73%
ULST State Street Ultra Short Term Bond ETF 311% $9.8M -0.33%
IGOV iShares International Treasury Bond ETF 309% $41.9M -0.32%
XBIL US Treasury 6 Month Bill ETF 284% $16.8M -0.31%
SPAB State Street SPDR Portfolio Aggregate Bond ETF 283% $167.2M -1.63%

Commodity

The Commodity asset class recorded $5.8B in turnover, trading at 42% of its 30-day average. Elevated activity was led by the Broad Market category (closing +0.72%). This was driven by exceptional turnover in COMT (closing +0.69%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Commodity: Multi-Sector – Broad Market 166% $301.7M +0.72%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
COMT iShares U.S. ETF Trust iShares GSCI Commodity Dynamic Roll Strategy ETF 959% $37.4M +0.69%
GSG iShares S&P GSCI Commodity Indexed Trust 385% $57.9M +0.80%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF 324% $58.5M +1.02%

Digital Asset

The Digital Asset asset class recorded $7.7B in turnover, trading at 93% of its 30-day average. Trading activity was broadly subdued across the asset class.

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.

Currency

The Currency asset class recorded $103.5M in turnover, trading at 140% of its 30-day average. Separately, exceptional individual ticker activity was seen in FXE (closing -0.11%) from the Currency category.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Currency 140% $103.5M -0.02%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
FXE Invesco CurrencyShares Euro Trust 200% $22.2M -0.11%
FXF Invesco CurrencyShares Swiss Franc Trust 157% $9.3M -0.43%

Alternative

The Alternative asset class recorded $955.5M in turnover, trading at 69% of its 30-day average. Elevated activity was led by the Managed Futures category (closing +0.04%). This was driven by exceptional turnover in DBMF (closing +0.18%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Alternative: Absolute Return – Managed Futures 266% $108.9M +0.04%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
DBMF iMGP DBi Managed Futures Strategy ETF 232% $53.1M +0.18%
CTA Simplify Managed Futures Strategy ETF 166% $17.4M +0.18%

Non-Traditional

The Non-Traditional asset class recorded $35.0B in turnover, trading at 89% of its 30-day average. Elevated activity was led by the Buffer – Equity category (closing +0.03%). This was driven by exceptional turnover in PJUL (closing +0.07%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Buffer – Equity 170% $632.3M +0.03%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PJUL Innovator U.S. Equity Power Buffer ETF – July 2092% $60.4M +0.07%
PNOV Innovator U.S. Equity Power Buffer ETF – November 528% $43.4M +0.14%
DOCT FT Vest U.S. Equity Deep Buffer ETF – October 385% $9.7M -0.05%
METU Direxion Daily META Bull 2X Shares 262% $382.6M -3.05%
AMZU Direxion Daily AMZN Bull 2X Shares 200% $276.8M +7.47%
WPAY Roundhill WeeklyPay Universe ETF 199% $69.4M +0.46%
LABU Direxion Daily S&P Biotech Bull 3X Shares 198% $212.0M -7.83%
QDPL Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF 196% $12.6M +0.14%
CAIE Calamos Autocallable Income ETF 193% $19.5M -1.24%
FBL GraniteShares 2x Long META Daily ETF 182% $139.0M -3.00%

Multi-Asset

The Multi-Asset asset class recorded $170.3M in turnover, trading at 98% of its 30-day average. Separately, exceptional individual ticker activity was seen in RSSB (closing +0.05%) from the Alternative Asset Sleeve category.

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
RSSB Return Stacked Global Stocks & Bonds ETF 276% $7.9M +0.05%
AOR iShares Core 60/40 Balanced Allocation ETF 165% $26.0M -0.02%
AOM iShares Core 40/60 Moderate Allocation ETF 157% $8.7M -0.01%

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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