Macro Summary
The market exhibited muted activity during the session, with total volume reaching $204.0B, representing 75% of the 30-day average. The overall tone remained broadly subdued across core risk assets, with Equities and Commodities seeing notably light engagement. However, specialized segments found traction, as Multi-Asset, Digital Asset, and Non-Traditional categories maintained activity levels near or above their typical averages.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $126.7B | $180.1B | 70% |
| Fixed Income | $27.7B | $32.5B | 85% |
| Commodities | $5.3B | $12.0B | 44% |
| Digital Asset | $4.2B | $4.3B | 98% |
| Currencies | $59.3M | $153.2M | 39% |
| Alternatives | $861.0M | $1.3B | 65% |
| Non-Traditional | $38.9B | $42.4B | 92% |
| Multi-Asset | $227.3M | $227.7M | 100% |
Equity
Equities recorded a quiet session with $126.7B in volume, realizing just 70% of the 30-day average despite positive aggregate returns (+1.07%). Activity was selectively concentrated in thematic segments such as Health Innovation and Sustainability, alongside pronounced single-stock anomalies in specific factor and growth strategies.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Health Innovation | 204% | $142.9M | +0.11% |
| Equity: Thematic – Sustainability | 139% | $329.7M | +2.06% |
| Equity: Thematic – FinTech | 135% | $112.2M | +2.40% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| TSPA | T. Rowe Price U.S. Equity Research ETF | 2373% | $316.6M | +0.87% |
| IMFL | Invesco International Developed Dynamic Multifactor ETF | 838% | $22.1M | +1.87% |
| OAKM | Oakmark U.S. Large Cap ETF | 777% | $43.0M | +0.32% |
| TMSL | T. Rowe Price Small-Mid Cap ETF | 773% | $109.9M | +1.37% |
| HEDJ | WisdomTree Europe Hedged Equity Fund | 513% | $18.3M | +2.57% |
| IGPT | Invesco AI and Next Gen Software ETF | 477% | $21.5M | +4.44% |
| IXG | iShares Global Financials ETF | 466% | $12.5M | +0.46% |
| FBCG | Fidelity Blue Chip Growth ETF | 416% | $147.7M | +1.29% |
| SAMT | Strategas Macro Thematic Opportunities ETF | 338% | $17.4M | +1.09% |
| POWR | iShares U.S. Power Infrastructure ETF | 313% | $10.6M | +1.18% |
Fixed Income
Fixed Income trading was slightly subdued, posting $27.7B in total volume for 85% of its 30-day average. Taxable International USD and Multisector bond categories led relative volume dynamics, highlighted by massive trading anomalies in select active and securitized funds.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – International USD | 240% | $688.6M | +0.15% |
| Fixed Income: Taxable – Multisector | 166% | $604.6M | +0.13% |
| Fixed Income: Taxable – Long-Term | 137% | $884.9M | +0.54% |
| Fixed Income: Taxable – Securitized | 134% | $611.1M | -0.11% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SECU | iShares Securitized Income Active ETF | 2326% | $191.2M | +0.13% |
| EDGF | 3EDGE Dynamic Fixed Income ETF | 1796% | $64.4M | -0.04% |
| IFLN | Invesco Bloomberg Enhanced Fallen Angels ETF | 1530% | $60.6M | +0.27% |
| EVLN | Eaton Vance Floating-Rate ETF | 772% | $19.9M | +0.09% |
| TBLL | Invesco Short Term Treasury ETF | 680% | $223.7M | +0.02% |
| LONZ | PIMCO Senior Loan Active Exchange-Traded Fund | 667% | $17.6M | +0.02% |
| XHLF | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 480% | $105.7M | +0.01% |
| PHYL | PGIM Active High Yield Bond ETF | 413% | $19.8M | +0.09% |
| HYGH | iShares Interest Rate Hedged High Yield Bond ETF | 400% | $17.8M | +0.22% |
| CRUX | Columbia Core Bond ETF | 395% | $65.4M | +0.13% |
Commodities
Commodities experienced a very quiet session with $5.3B in volume, equating to only 44% of the typical 30-day average. While broad segment activity remained well below average, select multi-sector and agricultural strategy funds showed notable isolated engagement.
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 | 270% | $117.1M | +0.34% |
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | 217% | $21.5M | +0.28% |
| DJP | iPath Bloomberg Commodity Index Total Return ETN | 180% | $7.3M | -0.55% |
| SDCI | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 177% | $7.8M | +0.26% |
Digital Asset
Digital Assets maintained a balanced profile, logging $4.2B in volume to capture 98% of the 30-day average. The asset class posted strong absolute performance (+1.88%), led by relative activity bursts in specialized altcoin exposure, notably within XRP-focused vehicles.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XRPZ | Franklin XRP ETF | 211% | $6.0M | +1.28% |
| XRP | Bitwise XRP ETF | 172% | $13.0M | +1.03% |
Currencies
Currency ETF trading was highly muted, recording $59.3M in volume for just 39% of the 30-day norm. The space saw minimal outlier activity, with the Japanese Yen Trust serving as the lone exception amid quiet broad market dynamics.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXY | Invesco Currencyshares Japanese Yen Trust | 151% | $17.6M | -0.45% |
Alternatives
Alternatives saw below-average engagement, generating $861.0M in volume representing 65% of typical levels. The session was exceptionally quiet across both absolute return and volatility strategies, producing no significant high-activity outliers.
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 were highly active relative to the broader market, tallying $38.9B in volume (92% of ADV). The action was intensely focused on Leverage and Inverse Single Stock products, as well as Synthetic Income semiconductor funds which commanded substantial relative flow.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Single Stock | 126% | $13.9B | +1.20% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CHPY | YieldMax Semiconductor Portfolio Option Income ETF | 426% | $130.4M | +3.13% |
| INTW | GraniteShares 2x Long INTC Daily ETF | 321% | $283.9M | +27.00% |
| PLTU | Direxion Daily PLTR Bull 2X ETF | 303% | $327.2M | -14.49% |
| SNXX | Tradr 2X Long SNDK Daily ETF | 296% | $1.9B | +25.54% |
| SBAR | Simplify Barrier Income ETF | 243% | $8.2M | +0.53% |
| IRE | Defiance Daily Target 2X Long IREN ETF | 222% | $223.3M | +20.28% |
| MUU | Direxion Daily MU Bull 2X ETF | 214% | $1.1B | +22.77% |
| PTIR | GraniteShares 2x Long PLTR Daily ETF | 208% | $141.1M | -14.66% |
| MULL | GraniteShares 2x Long MU Daily ETF | 206% | $152.0M | +22.65% |
| AMDL | GraniteShares 2x Long AMD Daily ETF | 177% | $450.6M | +8.46% |
Multi-Asset
Multi-Asset class funds delivered a perfectly balanced session, matching 100% of their 30-day average volume at $227.3M. Target Risk and Alternative Asset Sleeve strategies maintained steady trading flows without generating widespread anomalous category volume, though a few niche funds displayed heightened interest.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| HECA | Hedgeye Capital Allocation ETF | 191% | $14.8M | +0.23% |
| GDE | WisdomTree Efficient Gold Plus Equity Strategy Fund | 172% | $15.9M | +1.15% |
| INCM | Franklin Income Focus ETF Income Focus ETF | 153% | $13.7M | +0.67% |
