Thematic Equities and Crypto See Elevated Trading in Mixed Session

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Macro Summary

Total market volume reached $267.5B during the session, registering activity slightly above historical norms at 106% of the 30-day average. The overarching tone remained balanced, with pockets of elevated trading concentrated primarily in Multi-Asset and Digital Asset classes, while traditional Equity and Fixed Income saw more muted volume profiles relative to their 30-day benchmarks.

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $171.6B $162.5B 106%
Fixed Income $30.0B $28.0B 107%
Commodity $7.2B $7.6B 94%
Digital Asset $5.2B $4.0B 130%
Currency $129.2M $113.2M 114%
Alternative $1.1B $1.1B 101%
Non-Traditional $52.1B $48.2B 108%
Multi-Asset $356.4M $244.8M 146%

Equity

The Equity asset class recorded $171.6B in total volume, tracking near average at 106% of its 30-day benchmark. Activity was driven primarily by outsized trading in Specialty – Long/Short, Materials, and Industrial Revolution thematic categories.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Equity: Specialty – Long | Short 339% $580.6M +0.61%
Equity: Sector – Materials 241% $1.4B -0.29%
Equity: Thematic – Industrial Revolution 200% $1.3B -0.71%
Equity: Thematic – Disruptive Tech 176% $4.5B +3.57%
Equity: Sector – Consumer Staples 169% $1.7B -0.85%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
SFTX Horizon International Managed Risk ETF 1971% $81.3M +0.84%
FXL First Trust Technology AlphaDEX Fund 727% $22.7M +3.78%
DFJ WisdomTree Japan SmallCap Dividend Fund 521% $15.0M -2.28%
VFH Vanguard Financials ETF 441% $253.8M -0.34%
GWX State Street SPDR S&P International Small Cap ETF 431% $11.6M -1.37%
EWS iShares MSCI Singapore ETF 423% $83.8M +0.71%
VLUE iShares MSCI USA Value Factor ETF 408% $704.5M +1.82%
IALT iShares Systematic Alternatives Active ETF 396% $548.2M +0.84%
EWZS iShares MSCI Brazil Small-Cap ETF 396% $28.9M -0.46%
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 386% $26.2M -0.15%

Fixed Income

The Fixed Income space logged $30.0B in volume, trading at a measured 107% of the 30-day average. Government Ultrashort and Municipal High Yield segments saw the highest relative activity within the class.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Fixed Income: Taxable – Government Ultrashort 172% $7.2B -0.13%
Fixed Income: Municipal – High Yield 145% $160.5M -0.20%
Fixed Income: Municipal – Single State 135% $139.3M -0.12%
Fixed Income: Municipal – Short 131% $223.4M -0.23%
Fixed Income: Taxable – Government Intermediate 128% $813.4M -0.32%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
CAM AB California Intermediate Municipal ETF 500% $16.0M -0.17%
RAVI FlexShares Ultra-Short Income Fund 406% $11.9M -0.34%
CLOZ Eldridge BBB-B CLO ETF 332% $23.8M +0.06%
PTRB PGIM Total Return Bond ETF 305% $16.3M +0.29%
CALI iShares Short-Term California Muni Active ETF 288% $14.5M -0.18%
SPIP State Street SPDR Portfolio TIPS ETF 278% $23.5M -1.13%
HYD VanEck High Yield Muni ETF 271% $93.5M -0.53%
TIPX State Street SPDR Bloomberg 1-10 Year TIPS ETF 269% $18.1M -1.12%
BMOP BNY Mellon Municipal Opportunities ETF 265% $7.4M -0.26%
NYM AB New York Intermediate Municipal ETF 250% $6.4M -0.12%

Commodity

Commodity ETFs experienced muted volume totaling $7.2B, landing below the historical baseline at 94% of the 30-day average. The session saw an absence of categories exhibiting significant momentum above the inclusion threshold.

High-Volume Categories

No items met the inclusion criteria for this session.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
AAAU Goldman Sachs Physical Gold ETF 202% $123.3M -1.38%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF 159% $183.4M +1.45%
BNO United States Brent Oil Fund LP 157% $332.0M +3.78%
BAR GraniteShares Gold Shares 155% $14.9M -1.38%
SGOL abrdn Physical Gold Shares ETF 153% $153.2M -1.37%

Digital Asset

Digital Assets registered outsized volume at $5.2B, tracking at 130% of its 30-day average. Trading was notably elevated across core Cryptocurrency segments, specifically Ethereum and Bitcoin.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Digital Asset: Cryptocurrency – Ethereum 130% $693.7M -0.72%
Digital Asset: Cryptocurrency – Bitcoin 130% $4.4B -2.38%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
BRRR Coinshares Bitcoin ETF 217% $8.3M -2.66%
EZBC Franklin Bitcoin ETF 203% $14.9M -2.65%
BTCO Invesco Galaxy Bitcoin ETF 158% $9.7M -2.62%

Currency

Currency ETFs posted $129.2M in volume, operating above baseline at 114% of the 30-day average. Specific category volume fell below the high-activity thresholds.

High-Volume Categories

No items met the inclusion criteria for this session.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
FXE Invesco CurrencyShares Euro Trust 228% $38.2M -0.34%

Alternative

The Alternative asset class demonstrated balanced trading with $1.1B in volume, mirroring its 30-day average at 101%. Managed Futures surfaced as the sole high-volume category exceeding historical baselines.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Alternative: Absolute Return – Managed Futures 151% $117.8M +0.78%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
KMLM KraneShares Mount Lucas Managed Futures Index Strategy ETF 260% $20.0M +1.08%

Non-Traditional

Non-Traditional ETFs reported $52.1B in volume, finishing slightly above average at 108% of the 30-day benchmark. Activity was concentrated in Equity Buffer and Single Stock Leveraged/Inverse products.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Buffer – Equity 146% $640.5M +0.05%
Non-Traditional: Leverage | Inverse – Single Stock 139% $20.6B +2.11%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PJUN Innovator U.S. Equity Power Buffer ETF – June 1554% $72.2M +0.01%
POCT Innovator U.S. Equity Power Buffer ETF – October 336% $13.4M +0.05%
ORCX Defiance Daily Target 2X Long ORCL ETF 323% $316.3M +20.17%
NEBX Tradr 2X Long NBIS Daily ETF 282% $202.4M +30.80%
METU Direxion Daily META Bull 2X ETF 256% $315.2M -9.86%
PTIR GraniteShares 2x Long PLTR Daily ETF 247% $170.9M +4.48%
FBL GraniteShares 2x Long META Daily ETF 247% $86.9M -9.84%
IGLD FT Vest Gold Strategy Target Income ETF 231% $16.7M -2.87%
TECL Direxion Daily Technology Bull 3X ETF 223% $469.8M +7.68%
MUU Direxion Daily MU Bull 2X ETF 224% $3.0B +12.90%

Multi-Asset

Multi-Asset class saw robust trading with volume hitting $356.4M, a significant 146% of its 30-day average. The activity was heavily skewed towards Target Risk – Growth strategies.

High-Volume Categories

Category Activity vs ADV $ Volume 1-Day Return
Asset Allocation: Target Risk – Growth 153% $129.0M +0.17%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
RLY State Street Multi-Asset Real Return ETF 689% $46.1M 0.00%
RAAX VanEck Real Assets ETF 218% $20.3M -0.13%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund 205% $20.1M -1.27%
AOM iShares Core 40/60 Moderate Allocation ETF 183% $12.0M +0.07%
AOR iShares Core 60/40 Balanced Allocation ETF 182% $41.4M +0.13%
AOK iShares Core 30/70 Conservative Allocation ETF 168% $13.9M +0.05%

Disclaimer: This AI-assisted commentary is for informational purposes only. The “High-Volume Categories” table includes categories with over $100M in volume and activity at least 125% of their 30-day average, limited to the top 5 by activity percentage. The “High-Activity Ticker Outliers” table shows the top 10 ETFs from each asset class, sorted by the highest trading activity versus their 30-day average. All reported ETFs have AUM over $250M and an ADV greater than $2.5M.

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.