Macro Summary
The overall market experienced a muted session on April 27, 2026, registering $188.4B in total trading volume, which represents just 62% of its 30-day average. Activity remained notably subdued across the board, with every major asset class trading well below its historical norms, aside from pockets of relatively stronger participation within Non-Traditional and Multi-Asset strategies.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $117.8B | $203.5B | 58% |
| Fixed Income | $21.9B | $36.1B | 61% |
| Commodities | $5.7B | $15.7B | 36% |
| Digital Asset | $3.4B | $4.7B | 72% |
| Currencies | $89.8M | $166.7M | 54% |
| Alternatives | $746.5M | $1.6B | 47% |
| Non-Traditional | $38.6B | $43.4B | 89% |
| Multi-Asset | $186.5M | $227.6M | 82% |
Equity
Equity trading remained light, totaling $117.8B or 58% of average daily volume. While broad market indices were quiet, targeted activity emerged in specific segments like U.S. Small Cap Growth and thematic semiconductor funds.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|
| Equity: U.S. Small Cap – Growth | 125% | $372.0M | -0.15% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XSD | State Street SPDR S&P Semiconductor ETF | 497% | $86.0M | -3.44% |
| LSGR | Natixis Loomis Sayles Focused Growth ETF | 417% | $29.7M | +0.65% |
| PSI | Invesco Semiconductors ETF | 374% | $94.3M | -3.15% |
| SNPE | Xtrackers S&P 500 Scored & Screened ETF | 342% | $98.5M | +0.44% |
| SPYX | State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 336% | $20.8M | +0.14% |
| SEIE | SEI Select International Equity ETF | 331% | $10.7M | -0.24% |
| IHF | iShares U.S. Healthcare Providers ETF | 326% | $73.4M | +1.31% |
| SEIM | SEI Enhanced U.S. Large Cap Momentum Factor ETF | 325% | $11.2M | +0.10% |
| FNDB | Schwab Fundamental U.S. Broad Market ETF | 308% | $11.5M | -0.07% |
| FDLO | Fidelity Low Volatility Factor ETF | 304% | $17.3M | -0.66% |
Fixed Income
Fixed Income posted $21.9B in turnover, representing 61% of normal activity levels. Taxable Inflation-Protected bonds drew outsized attention against a backdrop of broadly restrained bond market trading.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|
| Fixed Income: Taxable – Inflation Protected | 126% | $868.7M | -0.01% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| IQMM | ProShares GENIUS Money Market ETF | 693% | $922.9M | 0.00% |
| SCHP | Schwab US TIPS ETF | 364% | $385.5M | +0.02% |
| SPTS | State Street SPDR Portfolio Short Term Treasury ETF | 316% | $176.8M | -0.02% |
| BHYB | Xtrackers USD High Yield BB-B ex Financials ETF | 310% | $17.8M | -0.01% |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | 283% | $16.3M | -0.07% |
| BSCV | Invesco BulletShares 2031 Corporate Bond ETF | 278% | $24.8M | -0.09% |
| SYFI | AB Short Duration High Yield ETF | 227% | $9.7M | +0.04% |
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | 203% | $32.0M | 0.00% |
| CLOZ | Eldridge BBB-B CLO ETF | 193% | $15.6M | +0.04% |
| QLTA | iShares Aaa-A Rated Corporate Bond ETF | 186% | $44.2M | -0.27% |
Commodities
Commodities saw particularly depressed participation, with just $5.7B trading hands—a mere 36% of its typical 30-day volume.
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 Assets recorded $3.4B in trading volume, operating at 72% of average activity, accompanied by negative price action across the segment.
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 | 207% | $8.0M | -1.07% |
Currencies
Currency ETFs were quiet with total session volume logging in at $89.8M, representing 54% of its rolling 30-day average.
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 recorded a soft $746.5M in volume, coming in at less than half (47%) of average trading levels.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | 158% | $10.2M | +1.21% |
Non-Traditional
The Non-Traditional space was relatively the most active asset class, generating $38.6B in volume (89% of ADV). Leverage/Inverse single-stock trackers and crypto-linked funds drove the bulk of outlier trading.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|
| Non-Traditional: Synthetic Income – Fixed Income | 147% | $115.5M | -0.15% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BITU | ProShares Ultra Bitcoin ETF | 269% | $152.7M | -2.07% |
| AMDL | GraniteShares 2x Long AMD Daily ETF | 241% | $463.3M | -7.09% |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | 240% | $86.4M | +0.29% |
| GGLL | Direxion Daily GOOGL Bull 2X ETF | 230% | $190.6M | +3.58% |
| NVDU | Direxion Daily NVDA Bull 2X ETF | 227% | $108.2M | +8.19% |
| TSMX | Direxion Daily TSM Bull 2X ETF | 219% | $133.0M | +0.97% |
| BTCI | NEOS Bitcoin High Income ETF | 209% | $41.5M | -0.49% |
| USD | ProShares Ultra Semiconductors | 209% | $103.7M | +2.96% |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 208% | $72.2M | -7.84% |
| TDVI | FT Vest Technology Dividend Target Income ETF | 190% | $7.2M | -1.10% |
Multi-Asset
Multi-Asset vehicles saw $186.5M in total volume, trailing the 30-day average at an 82% activity clip.
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.
