Macro Summary
The overall market experienced a muted session with total volume reaching $350.0B, representing 96% of the 30-day average. Activity was largely balanced across asset classes, with Currencies (204%) and Fixed Income (116%) showing the most notable relative volume expansions.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $230.2B | $250.6B | 92% |
| Fixed Income | $42.3B | $36.4B | 116% |
| Commodities | $19.3B | $22.9B | 84% |
| Digital Asset | $7.4B | $6.6B | 111% |
| Currencies | $281.2M | $137.9M | 204% |
| Alternatives | $1.9B | $1.8B | 108% |
| Non-Traditional | $48.4B | $46.2B | 105% |
| Multi-Asset | $256.8M | $271.9M | 94% |
Equity
Equity volume totaled $230.2B, registering at 92% of its 30-day average. While broad participation was balanced, U.S. Mid Cap – Blend experienced an elevated session at 184% activity, and specific tickers like USPX and FLQL drove localized extreme surges.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: U.S. Mid Cap – Blend | 184% | $6.1B | -0.14% |
| Equity: Global Ex-U.S. Large Cap – Growth | 140% | $834.0M | -1.25% |
| Equity: Thematic – Alternative Equity | 135% | $101.4M | +0.62% |
| Equity: Sector – Communication Services | 125% | $1.3B | -0.63% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| USPX | Franklin U.S. Equity Index ETF | 3078% | $110.0M | -0.67% |
| FLQL | Franklin U.S. Large Cap Multifactor Index ETF | 1718% | $94.9M | -0.57% |
| MGC | Vanguard Mega Cap ETF | 556% | $188.4M | -0.70% |
| TMSL | T. Rowe Price Small-Mid Cap ETF | 491% | $60.4M | +0.30% |
| VCR | Vanguard Consumer Discretionary ETF | 449% | $82.4M | -0.53% |
| FQAL | Fidelity Quality Factor ETF | 443% | $13.1M | -0.54% |
| MDY | State Street SPDR S&P MIDCAP 400 ETF Trust | 443% | $3.4B | -0.22% |
| RSPN | Invesco S&P 500 Equal Weight Industrials ETF | 443% | $75.1M | -0.21% |
| IDHQ | Invesco S&P International Developed High Quality ETF | 382% | $13.9M | -1.17% |
| ISCG | iShares Morningstar Small-Cap Growth ETF | 369% | $11.9M | -0.25% |
Fixed Income
Fixed Income showed notable expansion with volume reaching $42.3B (116% of average). Taxable Government Intermediate and Emerging USD categories led the broad volume surges at 193% and 163% respectively, accompanied by strong anomalous volume in specific corporate products.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Government Intermediate | 193% | $1.6B | -0.06% |
| Fixed Income: Taxable – Emerging USD | 163% | $1.9B | -0.39% |
| Fixed Income: Taxable – Preferred Stock | 143% | $366.8M | -0.28% |
| Fixed Income: Municipal – Long | 143% | $131.4M | +0.32% |
| Fixed Income: Taxable – Government Ultrashort | 133% | $5.3B | +0.02% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CORP | PIMCO Investment Grade Corporate Bond Index ETF | 2041% | $168.0M | -0.35% |
| TBLL | Invesco Short Term Treasury ETF | 1465% | $429.4M | +0.02% |
| SYSB | iShares Systematic Bond ETF | 651% | $54.0M | -0.12% |
| XTEN | BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 521% | $33.1M | -0.33% |
| RAVI | FlexShares Ultra-Short Income Fund | 513% | $18.0M | -0.05% |
| XEMD | BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 513% | $30.7M | -0.24% |
| IGEB | iShares Investment Grade Systematic Bond ETF | 492% | $48.3M | -0.26% |
| FTCB | First Trust Core Investment Grade ETF | 459% | $62.5M | -0.17% |
| FLIA | Franklin International Aggregate Bond ETF | 421% | $12.1M | -0.17% |
| ANGL | VanEck Fallen Angel High Yield Bond ETF | 398% | $99.4M | -0.36% |
Commodities
Commodities registered a muted session overall at 84% activity on $19.3B volume. However, specific pockets within Agriculture and Energy saw highly concentrated activity, trading at over 400% and 200% of their respective moving averages.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Agriculture | 431% | $182.5M | +0.81% |
| Commodity: Focused – Energy | 225% | $7.4B | +0.15% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DBA | Invesco DB Agriculture Fund | 701% | $119.5M | +0.17% |
| SDCI | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 340% | $15.9M | -0.88% |
| USO | United States Oil Fund LP | 239% | $6.9B | +1.66% |
| BNO | United States Brent Oil Fund LP | 162% | $253.7M | +2.03% |
| DBB | Invesco DB Base Metals Fund | 187% | $19.3M | -0.78% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 184% | $30.9M | -0.29% |
| HGER | Harbor Commodity All-Weather Strategy ETF | 165% | $32.1M | -0.62% |
Digital Asset
Digital Assets recorded $7.4B in volume, operating at an active 111% of typical levels. Bitcoin-focused products commanded the majority of volume, remaining near their average trading baselines.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BITO | ProShares Bitcoin ETF | 151% | $1.3B | +1.22% |
Currencies
Currencies exhibited the strongest relative activity across the macro landscape, trading at 204% of their typical volume. Strong localized flows into broad dollar-bullish funds headlined the session dynamics.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Currency | 204% | $281.2M | -0.34% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 514% | $87.7M | +0.61% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 226% | $115.6M | +0.78% |
Alternatives
Alternatives traded relatively in line with their averages at 108% activity on $1.9B of volume. Market participation favored broad systematic style premia and managed futures wrappers despite quiet category aggregates.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FLSP | Franklin Systematic Style Premia ETF | 242% | $9.8M | +1.16% |
| CTA | Simplify Managed Futures Strategy ETF | 170% | $25.7M | -0.18% |
Non-Traditional
Non-Traditional volume reached $48.4B (105% of average), anchored by leveraged and inverse products operating near trend baselines, though specific buffering and leveraged energy trades punctuated 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 |
|---|---|---|---|---|
| BUFF | Innovator Laddered Allocation Power Buffer ETF | 401% | $13.4M | -0.22% |
| SPDN | Direxion Daily S&P 500 Bear 1X ETF | 282% | $1.5B | +0.67% |
| UCO | ProShares Ultra Bloomberg Crude Oil | 217% | $660.9M | +1.32% |
| BMNU | T-REX 2X Long BMNR Daily Target ETF | 206% | $396.0M | 0.00% |
| METU | Direxion Daily META Bull 2X ETF | 190% | $151.8M | -7.99% |
| QYLD | Global X NASDAQ 100 Covered Call ETF | 190% | $358.9M | -0.34% |
| MSTX | Defiance Daily Target 2x Long MSTR ETF | 188% | $385.5M | +2.66% |
| SCO | ProShares UltraShort Bloomberg Crude Oil | 182% | $257.6M | -1.39% |
| XYLD | Global X S&P 500 Covered Call ETF | 180% | $92.7M | +0.19% |
| FAS | Direxion Daily Financial Bull 3X ETF | 164% | $212.9M | -0.24% |
Multi-Asset
Multi-Asset volume was subdued at $256.8M, operating at a moderate 94% of its typical daily participation footprint with few pronounced outliers.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AGOX | Adaptive Alpha Opportunities ETF | 176% | $4.8M | -1.12% |
