Macro Summary
Total market volume for the session reached $285.0B, representing 87% of the 30-day average. The trading day was characterized by a consolidated effort in the Equity and Non-Traditional spaces, though overall market activity remained slightly below the month-long trend. Digital Assets faced significant headwinds with a broad retreat, while Commodities showed pockets of strength in Energy and Precious Metals despite lower aggregate volume levels.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $203.6B | $216.5B | 94% |
| Fixed Income | $28.2B | $32.2B | 88% |
| Commodities | $12.4B | $29.6B | 42% |
| Digital Asset | $4.4B | $6.9B | 63% |
| Currencies | $143.1M | $112.2M | 128% |
| Alternatives | $1.1B | $1.2B | 90% |
| Non-Traditional | $34.9B | $41.9B | 83% |
| Multi-Asset | $245.9M | $235.5M | 104% |
Equity
Equity ETFs recorded $203.6B in volume, operating at 94% of normal levels. The class saw positive movement with an average 1-day return of +0.51%. Significant activity was noted in Latin American regional funds and Natural Resources, while broad U.S. Large Cap Blend remained the primary volume driver.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Region – Latin America | 294% | $446.4M | +0.23% |
| Equity: Thematic – Sustainability | 131% | $271.3M | +0.41% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| NANR | SPDR S&P North American Natural Resources ETF | 2282% | $87.9M | +1.65% |
| FELV | Fidelity Enhanced Large Cap Value ETF | 1345% | $74.5M | +0.27% |
| IGE | iShares North American Natural Resources ETF | 708% | $109.7M | +1.87% |
| ICOW | Pacer Developed Markets International Cash Cows 100 ETF | 403% | $43.0M | +0.27% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 371% | $35.7M | +0.55% |
| IWX | iShares Russell Top 200 Value ETF | 326% | $74.3M | +0.40% |
| ILF | iShares Latin America 40 ETF | 297% | $445.0M | +0.75% |
| RWL | Invesco S&P 500 Revenue ETF | 292% | $90.3M | +0.31% |
| SCHK | Schwab 1000 Index ETF | 255% | $95.3M | +0.58% |
| VV | Vanguard Large-Cap ETF | 206% | $243.7M | +0.49% |
Fixed Income
Fixed Income volume totaled $28.2B (88% of ADV). Returns were broadly flat to slightly negative (-0.04% average). Outsized activity was seen in active core and high-yield credit segments, while Municipal bonds remained relatively quiet at 80% 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 |
|---|---|---|---|---|
| GVI | iShares Intermediate Government/Credit Bond ETF | 564% | $88.9M | -0.11% |
| MLN | VanEck Long Muni ETF | 303% | $11.7M | -0.14% |
| TFLO | iShares Treasury Floating Rate Bond ETF | 154% | $116.7M | +0.03% |
Commodities
Commodity ETFs experienced a lighter session with $12.4B in volume (42% of ADV). Despite lower volume, the class posted strong gains (+2.32% average), led by the Energy sector which saw activity levels at 109% of its ADV.
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.
Digital Asset
Digital Asset volume was $4.4B, or 63% of ADV. It was a difficult session for the space, with the asset class falling -2.76% on average. Bitcoin and Ethereum categories remained the primary focuses of liquidity but showed muted activity vs. historical norms.
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.
Currencies
Currency ETFs saw higher-than-average participation at 128% of ADV, though aggregate dollar volume remains small compared to other classes. The session saw a broad -0.19% decline in currency-tracking products.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Currency | 128% | $143.1M | -0.19% |
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Alternatives
Alternative ETFs saw $1.1B in volume, operating at 90% of their 30-day average. Managed Futures showed strength with a +1.27% return, while Multi-Strategy funds saw an activity uptick to 137% of ADV.
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 ETFs (Leveraged, Inverse, and Buffer) registered $34.9B in volume (83% of ADV). Single-stock leveraged products continued to dominate trading activity in this segment, though average returns across the class were positive (+0.44%).
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.
Multi-Asset
Multi-Asset volume was $245.9M (104% of ADV). Target Risk and Specialty Multi-Asset strategies saw healthy engagement, with Alternative Asset Sleeves and Global Macro categories leading the activity percentages.
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.
