Macro Summary
The market saw elevated activity, with total ETF volume reaching $337.1B, or 121% of the 30-day average. The day’s most significant story was a dramatic surge in the Equity: Region – Latin America category, which traded at 242% of its normal volume and finished the session up +0.73%. Activity was also notably high in Non-Traditional (132% of ADV) and Equity (129% of ADV) asset classes, indicating a broad-based interest in specific market segments.
Asset Class Summary
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $236.4B | $183.5B | 129% |
| Non-Traditional | $53.5B | $40.5B | 132% |
| Fixed Income | $30.6B | $30.7B | 100% |
| Digital Asset | $7.5B | $8.7B | 87% |
| Commodity | $6.9B | $13.4B | 52% |
| Alternative | $2.0B | $1.5B | 138% |
| Multi-Asset | $149.1M | $178.8M | 83% |
| Currency | $73.7M | $76.1M | 97% |
Equity
Equity markets saw significant turnover, closing with $236.4B in volume, 129% of its 30-day average. The day’s most dramatic outlier was the Latin America region category, which traded 242% of its average volume (closing +0.73%), driven by funds like ILF (up +1.21%). Other high-volume categories included Information Technology (down -0.42%) and U.S. Large Cap Growth (down -0.02%). Separately, high-activity tickers like GSUS (up +0.09%) and GSID (down -0.01%) also saw exceptionally heavy trading.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: U.S. Large Cap – Blend | 129% | $89.9B | +0.23% |
| Equity: U.S. Large Cap – Growth | 140% | $55.4B | -0.02% |
| Equity: Sector – Information Technology | 170% | $15.0B | -0.42% |
| Equity: U.S. Small Cap – Blend | 144% | $14.9B | +0.62% |
| Equity: Global Large Cap – Blend | 144% | $1.5B | +0.11% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 830% | $78.0M | +0.09% |
| GSID | Marketbeta INTL Equity ETF | 820% | $23.0M | -0.01% |
| PXF | Invesco RAFI Developed Markets ex-U.S. ETF | 655% | $17.4M | +0.49% |
| ILOW | AB International Low Volatility Equity ETF | 410% | $11.8M | +0.35% |
| PTL | Inspire 500 ETF | 405% | $11.5M | +0.56% |
| JIVE | JPMorgan International Value ETF | 395% | $22.6M | +0.20% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 362% | $46.2M | +0.51% |
| UTES | Virtus Reaves Utilities ETF | 352% | $84.3M | +1.42% |
| FEOE | First Eagle Overseas Equity ETF | 344% | $10.6M | +0.55% |
| XSW | State Street SPDR S&P Software & Services ETF | 322% | $10.7M | +0.58% |
Fixed Income
The Fixed Income space was quiet, with $30.6B in volume, trading at 100% of its 30-day average. The one pocket of notable activity was in Convertible bonds, which traded 178% of its average volume (finishing up +0.34%), largely driven by heavy turnover in CWB (closing +0.34%). Other high-activity tickers included GOVI (down -0.05%) and NHYB (up +0.04%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Convertible | 178% | $189.2M | -0.01% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GOVI | Invesco Equal Weight 0-30 Year Treasury ETF | 1189% | $73.8M | -0.05% |
| NHYB | Nuveen High Yield Corporate Bond ETF | 529% | $150.1M | +0.04% |
| SHYG | iShares 0-5 Year High Yield Corporate Bond ETF | 354% | $249.7M | -0.16% |
| UBND | VictoryShares Core Plus Intermediate Bond ETF | 344% | $13.6M | -0.38% |
| IBTM | iShares iBonds Dec 2032 Term Treasury ETF | 339% | $9.0M | +0.09% |
| PMBS | PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 337% | $16.6M | +0.07% |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 275% | $19.5M | +0.00% |
| CWB | State Street SPDR Bloomberg Convertible Securities ETF | 259% | $141.6M | +0.34% |
| BKAG | BNY Mellon Core Bond ETF | 245% | $13.6M | -0.05% |
| BSJP | Invesco BulletShares 2025 High Yield Corporate Bond ETF | 245% | $6.8M | +0.03% |
Commodities
Commodities were exceptionally quiet, trading just $6.9B, or 52% of the 30-day average. The only category to see above-average interest was Carbon Credits, which traded 163% of its ADV, though it finished the day down -0.48%. No high-activity tickers were reported for this 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. | ||||
Crypto
The Digital Asset class saw $7.5B in volume, trading at 87% of its 30-day average. The primary categories, Bitcoin (which rose +2.20%) and Ethereum (which rose +4.40%), both traded below their recent averages. No high-activity ticker outliers were reported for this 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. | ||||
Currencies
The Currency asset class saw $73.7M in volume, trading at 97% of its 30-day average. No categories met the high-volume criteria, and no high-activity ticker outliers were reported.
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
The Alternative asset class saw $2.0B in volume, trading at 138% of its 30-day average. This activity was almost entirely concentrated in Volatility-Short products, which traded at 188% of their average volume and finished the day up +0.41%. No high-activity ticker outliers were reported for this asset class.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Volatility – Short | 188% | $350.8M | +0.41% |
| Alternative: Volatility – Long | 135% | $1.6B | -0.98% |
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 products saw high volume, trading $53.5B, or 132% of the 30-day average. This was dominated by Leverage | Inverse – Equity products, which traded $33.3B (157% of ADV) and finished up +0.25%. Synthetic Income – Single Stock products also saw heavy interest, trading $1.6B (151% of ADV) and closing roughly flat. High-activity tickers included TECL (down -0.97%) and YMAG (down -0.20%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Equity | 157% | $33.3B | +0.25% |
| Non-Traditional: Synthetic Income – Equity | 139% | $2.7B | +0.14% |
| Non-Traditional: Synthetic Income – Single Stock | 151% | $1.6B | +0.03% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| TECL | Direxion Daily Technology Bull 3x Shares | 311% | $492.4M | -0.97% |
| UPRO | ProShares UltraPro S&P500 | 265% | $1.4B | +0.46% |
| BULZ | MicroSectors Solactive FANG & Innovation 3X Leveraged ETN | 245% | $161.8M | +1.35% |
| YMAG | YieldMax Magnificent 7 Fund of Option Income ETFs | 217% | $38.3M | -0.20% |
| HOOW | Roundhill HOOD WeeklyPay ETF | 209% | $63.8M | +4.00% |
| IWMI | NEOS Russell 2000 High Income ETF | 209% | $15.3M | +0.30% |
| TSLY | YieldMax TSLA Option Income Strategy ETF | 197% | $659.1M | -2.73% |
| MUU | Direxion Daily MU Bull 2X Shares | 192% | $128.2M | +0.24% |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | 186% | $648.3M | -0.08% |
| PLTY | YieldMax PLTR Option Income Strategy ETF | 175% | $45.0M | +2.43% |
Multi-Asset
The Multi-Asset class saw $149.1M in volume, trading at 83% of its 30-day average. No categories met the high-volume criteria, though Target Risk – Moderate products (up +0.08%) saw some interest, led by AOM (up +0.02%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| No categories met the high-volume criteria. | |||
High-Activity Ticker Outliers
