ETF Volumes Slightly Elevated: Comm Services Trades 2.5x 30-Day ADV

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Macro Summary

Total trading volume across the ETF market reached $237.1B today, representing an 8% increase compared to the 30-day average. The most significant activity occurred in the Communication Services sector, which traded at 256% of its average daily volume, coinciding with a +1.51% average return for the category. Other categories with notably high trading volume relative to their average included Equity Industrials and several international equity segments.

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Equity

The Equity asset class recorded $167.7B in total volume, a figure 12% above its 30-day average. The highest volume activity was seen in the Communication Services sector (256% of ADV), Asia-Pacific Emerging (322% of ADV), and Health Innovation (228% of ADV). From a performance perspective, Equity Thematic – Precious Metals led with a +2.45% return, while Equity Sector – Energy lagged at +0.02%.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Region – Asia-Pacific Emerging 322% $21.7M +1.51%
Equity: Sector – Communication Services 256% $1.8B +1.51%
Equity: Region – Asia-Pacific Ex-Japan 228% $151.6M +1.22%
Equity: Thematic – Health Innovation 228% $111.4M +1.84%
Equity: Sector – Industrial 171% $3.3B +1.41%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
AIA iShares Asia 50 ETF 1492% $75.8M +1.02%
EPS WisdomTree U.S. LargeCap Fund 1075% $33.7M +0.91%
QUS SPDR MSCI USA StrategicFactors ETF 821% $30.0M +1.05%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 741% $29.2M +2.28%
GFLW VictoryShares Free Cash Flow Growth ETF 510% $18.3M +0.83%
DSTL Distillate US Fundamental Stability & Value ETF 465% $18.4M +1.70%
QQQJ Invesco NASDAQ Next Gen 100 ETF 454% $13.7M +1.31%
FXL First Trust Technology AlphaDEX Fund 422% $10.6M +0.93%
WCMI First Trust WCM International Equity ETF 357% $12.7M +0.62%
DAPP VanEck Digital Transformation ETF 344% $30.2M +1.10%

Fixed Income

The Fixed Income asset class traded $28.9B, representing an 8% increase over its 30-day average. Notable activity was seen in Taxable – Emerging USD ETFs, which traded at 170% of their average volume. The top-performing category was Fixed Income: Taxable – Convertible (+0.78%), while Fixed Income: Municipal – Short was the laggard (-0.03%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Fixed Income: Taxable – Emerging USD 170% $1.2B +0.33%
Fixed Income: Taxable – Emerging 157% $108.3M +0.26%
Fixed Income: Taxable – Inflation Protected 143% $814.2M +0.09%
Fixed Income: Specialty – Defined Maturity 135% $383.6M +0.15%
Fixed Income: Taxable – Preferred Stock 132% $284.8M +0.36%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
TDTT FlexShares iBoxx 3 Year Target Duration TIPS Index Fund 1813% $99.0M -0.08%
VCRB Vanguard Core Bond ETF 427% $111.0M +0.21%
DFCA Dimensional California Municipal Bond ETF 380% $10.5M +0.26%
EVSD Eaton Vance Short Duration Income ETF 365% $19.5M +0.06%
USHY iShares Broad USD High Yield Corporate Bond ETF 298% $966.6M +0.28%
VTEC Vanguard California Tax-Exempt Bond ETF 268% $25.5M +0.27%
VNLA Janus Henderson Short Duration Income ETF 251% $38.1M +0.00%
FMHI First Trust Municipal High Income ETF 242% $10.4M +0.42%
VPLS Vanguard Core Plus Bond ETF 237% $20.4M +0.22%
TDTF FlexShares iBoxx 5 Year Target Duration TIPS Index Fund 233% $7.0M +0.02%

Commodities

The Commodities space traded $5.6B, a volume 2% above its 30-day average. No individual categories showed exceptionally high volume. The leading category by performance was Industrial Metals (+1.33%), while the Energy category lagged (-1.90%).

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
IAU iShares Gold Trust 178% $689.9M -0.21%

Crypto

Digital Assets saw $4.5B in trading volume, 29% below the recent 30-day average. Trading activity was subdued across all categories. Ethereum-focused products returned +1.94%, while Bitcoin-focused products returned +0.69%.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker
No high-activity ticker outliers for this asset class.

Currencies

The Currency asset class traded $74.0M in volume, a level consistent with its 30-day average. No significant volume outliers were observed.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker
No high-activity ticker outliers for this asset class.

Alternatives

The Alternatives asset class saw $712.7M in volume, 35% below its 30-day average, with no significant volume outliers. Performance was led by Volatility – Short (+1.16%), while Volatility – Long lagged (-2.35%).

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker
No high-activity ticker outliers for this asset class.

Non-Traditional

Non-Traditional ETFs traded a total of $29.4B, 3% below their 30-day average. The most notable volume was in Leverage | Inverse – Fixed Income products, trading at 128% of their average. Performance was led by Synthetic Income – Crypto (+1.26%) and lagged by Buffer – Commodity (-0.43%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Leverage | Inverse – Fixed Income 128% $479.5M -0.23%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
UWM ProShares Ultra Russell2000 1159% $170.2M +3.45%
GJUL FT Vest U.S. Equity Moderate Buffer ETF – July 253% $11.3M +0.39%
BUCK Simplify Treasury Option Income ETF 249% $7.4M +0.10%
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares 223% $28.2M +4.52%
BALI iShares Advantage Large Cap Income ETF 205% $6.5M +0.88%
TSLQ Tradr 2X Short TSLA Daily ETF 186% $663.0M -11.59%
TSLR GraniteShares 2x Long TSLA Daily ETF 181% $67.7M +11.53%
TSLT T-REX 2X Long Tesla Daily Target ETF 170% $118.9M +11.56%
RSPA Invesco S&P 500 Equal Weight Income Advantage ETF 168% $5.9M +0.98%
PJAN Innovator U.S. Equity Power Buffer ETF – January 166% $4.8M +0.25%

Multi-Asset

The Multi-Asset category saw $151.0M in volume, trading 21% above its 30-day average. This was driven by activity in the Alternative Asset Sleeve category (239% of ADV). Performance was led by the Target Date category (+0.83%), while Conservative Target Risk lagged (+0.30%).

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
NTSX WisdomTree U.S. Efficient Core Fund 400% $17.1M +0.65%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund 244% $8.4M +0.63%
ALLW SPDR Bridgewater All Weather ETF 153% $9.5M +0.71%
INCM Franklin Income Focus ETF Income Focus ETF 151% $7.9M +0.49%

Disclaimer: This market commentary was prepared with the assistance of artificial intelligence. For a category to be included in the “High-Volume Categories” table, it must have traded over $100 million in total volume on the report date. For the purposes of this report, “High-Activity Outliers” are defined as ETFs with over $250 million in Assets Under Management (AUM) and a 30-day average daily volume (ADV) exceeding $2.5 million. The outliers listed for each section are aggregated from all underlying categories, sorted by the highest percentage of average daily volume, and limited to a maximum of the top 10.

Disclosures: This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.

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