Macro Summary
Total ETF market volume reached $274.0B today, representing 113% of the 30-day average daily volume. The market narrative was defined by a surge in Commodity trading (142% of average) and intense activity in Fixed Income (124% of average), particularly within the Securitized and Long-Term Government segments. Equities saw targeted high-volume rotations into Homebuilders and Industrial Revolution themes, while Digital Assets remained relatively subdued.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $184.0B | $168.8B | 109% |
| Fixed Income | $32.3B | $26.0B | 124% |
| Commodity | $15.5B | $10.9B | 142% |
| Digital Asset | $4.8B | $5.8B | 82% |
| Currency | $83.4M | $76.4M | 109% |
| Alternative | $801.2M | $816.7M | 98% |
| Non-Traditional | $36.4B | $30.8B | 118% |
| Multi-Asset | $230.7M | $183.8M | 126% |
Equity
Equity ETFs traded $184.0B today, 109% of their 30-day average daily volume. The session was characterized by aggressive positioning in housing and tech-industrial themes. The Evolving Consumer category traded at 269% of ADV (+0.08%), fueled by a spike in homebuilders like XHB (+5.44%) and ITB (+6.23%). Meanwhile, Industrial Revolution themes outperformed (+1.59%) on 258% activity.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Evolving Consumer | 269% | $1.5B | +0.08% |
| Equity: Thematic – Industrial Revolution | 258% | $473.8M | +1.59% |
| Equity: Sector – Consumer Discretionary | 189% | $2.7B | +0.86% |
| Equity: U.S. Small Cap – Value | 171% | $760.2M | +0.47% |
| Equity: U.S. Small Cap – Growth | 160% | $426.7M | +0.66% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SLYV | SPDR S&P 600 Small Cap Value | 860% | $111.2M | +0.75% |
| FNDA | Schwab Fundamental U.S. Small Co. | 602% | $128.5M | +0.89% |
| MOO | VanEck Agribusiness ETF | 592% | $32.1M | -0.05% |
| BKGI | BNY Mellon Global Infra. Income | 586% | $24.8M | -0.09% |
| ONEY | SPDR Russell 1000 Yield Focus | 541% | $14.7M | +0.42% |
| XHB | SPDR S&P Homebuilders | 487% | $777.8M | +5.44% |
| HFXI | NYLI FTSE Intl Equity Neutral | 463% | $21.4M | +0.98% |
| PSC | Principal U.S. Small-Cap ETF | 432% | $28.9M | +0.70% |
| SMIG | Bahl & Gaynor Small/Mid Cap Growth | 411% | $23.3M | +0.49% |
| DFNL | Davis Select Financial ETF | 401% | $11.2M | -0.58% |
Fixed Income
Fixed Income ETFs recorded $32.3B in volume, trading at 124% of ADV. Action was heavily skewed toward Securitized products (293% activity) and Long-Term Government debt (171% activity). GOVI (+0.36%) was the standout outlier, trading over 10 times its daily average.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Securitized | 293% | $1.1B | +0.28% |
| Fixed Income: Taxable – Long-Term | 189% | $848.9M | +0.49% |
| Fixed Income: Taxable – Government Long | 171% | $6.7B | +0.56% |
| Fixed Income: Taxable – Multisector | 143% | $473.2M | +0.13% |
| Fixed Income: Taxable – Ultrashort | 142% | $2.0B | +0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GOVI | Invesco Equal Weight 0-30Y Treasury | 1085% | $46.0M | +0.36% |
| XAGG | Eaton Vance Income Opportunities | 797% | $20.1M | +0.14% |
| PGF | Invesco Financial Preferred | 662% | $25.4M | +0.25% |
| HTRB | Hartford Total Return Bond | 660% | $30.2M | +0.22% |
| SPLB | SPDR Port. Long Term Corp. Bond | 523% | $232.8M | +0.64% |
| JMTG | JPMorgan Mortgage-Backed Sec. | 516% | $92.0M | +0.31% |
| GSST | Goldman Sachs Ultra Short Bond | 449% | $58.6M | +0.01% |
| JMBS | Janus Henderson Mort-Backed Sec. | 427% | $102.9M | +0.56% |
| IBTL | iShares iBonds Dec 2031 Treasury | 400% | $11.6M | -0.05% |
| IBHI | iShares iBonds 2029 High Yield | 396% | $12.1M | +0.02% |
Commodity
Commodity ETFs were the primary focus of rotational flows, trading $15.5B (142% of average). Precious Metals dominated the turnover, while Energy saw massive volume amid a sharp selloff in natural gas. SLV (+3.85%) and UNG (-7.41%) were the primary drivers of action.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Energy | 158% | $858.4M | -1.05% |
| Commodity: Focused – Precious Metals | 142% | $14.4B | +1.36% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| UNG | United States Natural Gas Fund LP | 190% | $417.9M | -7.41% |
| SDCI | USCF SummerHaven Dynamic Comm. | 172% | $5.1M | +0.26% |
| SLV | iShares Silver Trust | 154% | $6.3B | +3.85% |
Digital Asset
Digital Asset ETFs saw relatively quiet turnover compared to historical volatility, trading $4.8B (82% of average). Returns were broadly negative across Bitcoin and Ethereum products.
High-Volume Categories (>$100M Traded)
No categories qualified for inclusion today.
High-Activity Ticker Outliers
No tickers qualified for inclusion today.
Currency
Currency ETFs traded $83.4M (109% of average). Volatility remains low in the major FX pairs, with a negligible -0.09% average return for the asset class.
High-Volume Categories (>$100M Traded)
No categories qualified for inclusion today.
High-Activity Ticker Outliers
No tickers qualified for inclusion today.
Alternative
Alternative ETFs saw $801.2M in turnover (98% of average). The most significant action was found in Short Volatility and Managed Futures strategies.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Volatility – Short | 137% | $152.1M | +0.95% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CTA | Simplify Managed Futures Strategy | 189% | $17.7M | +1.11% |
Non-Traditional
Non-Traditional ETFs recorded $36.4B (118% of average). Leveraged homebuilders and FANG components were highly active, alongside a rotation into synthetic income products for energy exposure via USOI (+0.47%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Equity | 125% | $21.2B | +0.37% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| NAIL | Direxion Daily Homebuilders 3X Bull | 345% | $189.4M | +18.37% |
| USOI | UBS ETRACS Crude Covered Call ETN | 345% | $27.2M | +0.47% |
| BULZ | MicroSectors FANG 3X Leveraged | 278% | $147.4M | +6.66% |
| SSO | ProShares Ultra S&P 500 | 259% | $419.9M | +1.26% |
| IDVO | Amplify CWP Intl. Enhanced Dividend | 250% | $20.5M | +0.46% |
| WTPI | WisdomTree Equity Premium Income | 217% | $7.9M | +0.55% |
| MSTU | T-Rex 2X Long MSTR Daily Target | 200% | $248.1M | -11.26% |
| IQQQ | ProShares Nasdaq-100 High Income | 200% | $5.8M | +0.97% |
| TSMX | Direxion Daily TSM Bull 2X | 193% | +3.60% | |
| MUU | Direxion Daily MU Bull 2X | 164% | $193.6M | +11.25% |
Multi-Asset
Multi-Asset ETFs saw elevated participation in Target Risk categories, trading $230.7M (126% of average). Both **Global Macro** and **Growth** risk profiles saw activity levels well above their typical 30-day norms.
High-Volume Categories (>$100M Traded)
No categories qualified for inclusion today.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CGBL | Capital Group Core Balanced ETF | 154% | $48.3M | +0.74% |
