Macro Summary
The session experienced muted overall market volume, generating $240.5B across all asset classes and operating at 96% of the 30-day average. Non-Traditional ETFs saw anomalous and elevated engagement, while broad Equity, Fixed Income, and Alternative flows remained balanced to constrained.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $150.3B | $161.1B | 93% |
| Fixed Income | $21.2B | $27.7B | 77% |
| Commodities | $6.8B | $7.8B | 87% |
| Digital Asset | $3.6B | $4.1B | 88% |
| Currencies | $95.9M | $109.7M | 87% |
| Alternatives | $694.9M | $1.1B | 64% |
| Non-Traditional | $57.5B | $47.4B | 121% |
| Multi-Asset | $270.2M | $238.9M | 113% |
Equity
Equity markets recorded $150.3B in volume, operating slightly below normal at 93% of the 30-day average. Session activity was largely balanced, with targeted interest emerging within Industrial Revolution, Disruptive Tech, and Consumer Discretionary segments.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Emerging Small | Mid Cap | 1221% | $101.4M | -1.20% |
| Equity: Thematic – Industrial Revolution | 261% | $1.4B | -0.05% |
| Equity: Sector – Consumer Discretionary | 170% | $2.3B | +1.49% |
| Equity: Thematic – Disruptive Tech | 164% | $3.7B | -0.97% |
| Equity: Region – Asia-Pacific Ex-Japan | 143% | $240.3M | -0.45% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| LGLV | State Street SPDR US Large Cap Low Volatility Index ETF | 821% | $42.2M | -0.37% |
| IHF | iShares U.S. Healthcare Providers ETF | 707% | $159.2M | +1.29% |
| NASA | Tema Space Innovators ETF | 585% | $801.1M | +1.09% |
| ONEV | State Street SPDR Russell 1000 Low Volatility Focus ETF | 448% | $19.0M | -0.17% |
| UAE | iShares MSCI UAE ETF | 400% | $28.5M | +1.13% |
| HEDJ | WisdomTree Europe Hedged Equity Fund | 389% | $19.2M | +0.79% |
| FPX | First Trust US Equity Opportunities ETF | 363% | $20.7M | +0.05% |
| IYG | iShares US Financial Services ETF | 363% | $33.5M | -0.75% |
| XOVR | ERShares Private-Public Crossover ETF | 353% | $234.7M | +1.40% |
| PWB | Invesco Large Cap Growth ETF | 325% | $38.1M | +0.01% |
Fixed Income
Fixed Income volume registered at $21.2B, representing a muted 77% of typical average daily volume. Anomalous activity was highly isolated, primarily driven by High Yield Municipal bond strategies.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Municipal – High Yield | 197% | $208.7M | +0.33% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 958% | $80.4M | +0.19% |
| HTRB | Hartford Total Return Bond ETF | 830% | $63.4M | +0.07% |
| HIMU | iShares High Yield Muni Active ETF | 804% | $136.8M | +0.33% |
| BSJT | Invesco BulletShares 2029 High Yield Corporate Bond ETF | 471% | $15.3M | 0.00% |
| XAGG | Eaton Vance Income Opportunities ETF | 394% | $29.8M | +0.21% |
| FLTR | VanEck IG Floating Rate ETF | 357% | $69.7M | -0.01% |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | 318% | $15.4M | -0.43% |
| GSST | Goldman Sachs Ultra Short Bond ETF | 296% | $39.9M | -0.01% |
| PTRB | PGIM Total Return Bond ETF | 290% | $14.8M | +0.12% |
| TFLR | T. Rowe Price Floating Rate ETF | 284% | $11.9M | +0.16% |
Commodities
Commodities experienced constrained participation, generating $6.8B in volume (87% of the 30-day average). Broad market strategies and precious metals drove what limited outlier activity occurred during the session.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| HGER | Harbor Commodity All-Weather Strategy ETF | 489% | $146.6M | -1.40% |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | 177% | $167.9M | -1.23% |
| PIT | VanEck Commodity Strategy ETF | 169% | $4.3M | -1.80% |
Digital Asset
Digital Asset products posted $3.6B in volume, operating at 88% of their standard average. The session saw no significant activity outliers based on the inclusion criteria.
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 generated $95.9M in volume, operating at a muted 87% of average daily levels. Trading was balanced with no significant deviations.
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
Alternatives saw the quietest relative participation across the market, with volume totaling $694.9M at just 64% of the 30-day average. The session remained broadly inactive.
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 strategies registered notable engagement, posting $57.5B in volume at 121% of typical levels. Activity was heavily dominated by leveraged, inverse, and synthetic single-stock products.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Single Stock | 125% | $18.1B | +0.77% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| YMAX | YieldMax Universe Fund of Option Income ETFs | 399% | $48.7M | -0.64% |
| MUU | Direxion Daily MU Bull 2X ETF | 379% | $4.0B | +7.24% |
| IRE | Defiance Daily Target 2X Long IREN ETF | 343% | $617.0M | +25.84% |
| MULL | GraniteShares 2x Long MU Daily ETF | 323% | $464.5M | +6.45% |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 318% | $256.9M | -6.33% |
| AMDY | YieldMax AMD Option Income Strategy ETF | 277% | $46.7M | -1.38% |
| PLTY | YieldMax PLTR Option Income Strategy ETF | 242% | $18.5M | -2.07% |
| ASTX | Tradr 2X Long ASTS Daily ETF | 233% | $438.7M | +16.15% |
| ROCQ | JPMorgan Nasdaq Equity Premium Yield ETF | 231% | $21.7M | +0.50% |
| AIPI | REX AI Equity Premium Income ETF | 214% | $11.4M | -1.12% |
Multi-Asset
Multi-Asset products saw slightly elevated volume at $270.2M, representing 113% of their 30-day average. Target Risk Growth and specialty income funds led the modest uptick in session engagement.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Target Risk – Growth | 155% | $121.8M | -0.06% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RSST | Return Stacked U.S. Stocks & Managed Futures ETF | 436% | $12.6M | -1.02% |
| CGBL | Capital Group Core Balanced ETF | 197% | $105.1M | +0.23% |
| INCM | Franklin Income Focus ETF Income Focus ETF | 172% | $16.4M | +0.10% |
| YYY | Amplify CEF High Income ETF | 168% | $5.7M | +0.04% |
