Macro Overview
The U.S. Large Cap (IVV) posted a marginal decline of -0.18% over the last 24 hours, stabilizing after generating a robust 36.36% 1-Year return. International equities, measured by the Developed Markets ex-U.S. (EFA), retracted by -0.39% despite maintaining a strong 32.71% 1-Year trend. The Emerging Markets (EEM) sector experienced a more pronounced daily headwind, sliding -0.72% as regional volatility impacted risk sentiment. Meanwhile, fixed income markets exhibited muted volatility, while Broad Commodities (DJP) provided significant portfolio support by advancing 0.99%.
U.S. Size & Style
Smaller capitalizations demonstrated relative strength across the size spectrum, with the Small Value (IJS) segment leading all style boxes with a 0.69% daily gain. This advance pushed the technical profile of the Small Value (IJS) into overbought territory, registering an RSI of 76.01 following a 48.08% 1-Year performance. Conversely, larger cohorts faced modest distribution, led downward by the Large Growth (IVW) segment which fell -0.48% for the day. Despite the immediate pullback in mega-cap names, broad momentum persists as indicated by the Large Cap (IVV) maintaining a 73.25 RSI alongside a 36.36% 1-Year return.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Small Value (IJS) | 0.69% | 12.01% | 7.20% | 13.05% | 48.08% |
| Mid Cap (IJH) | 0.63% | 11.37% | 6.43% | 11.41% | 35.58% |
| Mid Value (IJJ) | 0.60% | 11.12% | 4.66% | 8.51% | 30.58% |
| Small Cap (IJR) | 0.56% | 13.07% | 7.52% | 13.47% | 43.32% |
| Mid Growth (IJK) | 0.56% | 11.85% | 8.08% | 14.09% | 40.01% |
| Small Growth (IJT) | 0.30% | 14.04% | 7.87% | 13.74% | 38.59% |
| Large Value (IVE) | 0.10% | 6.45% | 3.86% | 4.65% | 26.78% |
| Large Cap (IVV) | -0.18% | 9.33% | 4.90% | 4.24% | 36.36% |
| Large Growth (IVW) | -0.48% | 11.89% | 5.71% | 3.69% | 44.96% |
U.S. Sectors & Industries
Pro-cyclical corners of the market attracted capital, highlighted by the Materials (XLB) sector advancing 0.67% to lead the 11 GICS categories. The Financial (XLF) and Real Estate (XLRE) sectors followed suit with gains of 0.38% and 0.36%, respectively, while the latter pushed into overbought conditions with an RSI of 77.25. On the downside, defensive allocations faced distribution as the Health Care (XLV) and Utilities (XLU) sectors declined -0.93% and -0.89%. The Energy (XLE) sector traded near flat at 0.09%, presenting a subdued RSI reading of 36.46 as investors navigate fluctuating crude dynamics.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Materials (XLB) | 0.67% | 11.66% | 8.86% | 15.68% | 31.87% |
| Financial (XLF) | 0.38% | 7.78% | -0.57% | -3.42% | 14.55% |
| Real Estate (XLRE) | 0.36% | 10.71% | 8.55% | 11.37% | 14.16% |
| Industrials (XLI) | 0.22% | 7.86% | 6.64% | 12.42% | 40.64% |
| Technology (XLK) | 0.14% | 14.38% | 9.10% | 7.49% | 61.19% |
| Energy (XLE) | 0.09% | -6.55% | 16.44% | 23.97% | 39.49% |
| Consumer Staples (XLP) | -0.08% | 1.92% | 0.60% | 6.66% | 3.42% |
| Communication Services (XLC) | -0.29% | 6.14% | 4.98% | 1.19% | 33.26% |
| Consumer Discretionary (XLY) | -0.45% | 11.48% | 0.83% | 0.58% | 30.32% |
| Utilities (XLU) | -0.89% | 3.17% | 7.23% | 7.91% | 20.97% |
| Health Care (XLV) | -0.93% | 1.85% | -4.75% | -4.38% | 10.74% |
Global Thematic
Thematic allocations exhibited acute performance dispersion driven by localized industry catalysts. The Amplify Seymour Cannabis ETF (CNBS) posted a distinct 9.56% daily surge, pacing the thematic landscape alongside the AdvisorShares Pure US Cannabis ETF (MSOS) which climbed 8.75%. On the opposing side of the spectrum, metals and technology infrastructure themes retraced their recent trajectories. The Sprott Active Gold & Silver Miners ETF (GBUG) and the Roundhill Memory ETF (DRAM) led the laggards with declines of -1.50% and -1.46%, respectively.
| Name (Ticker) | 1-Day |
|---|---|
| 1-Day Performance Leaders | |
| Amplify Seymour Cannabis ETF (CNBS) | 9.56% |
| AdvisorShares Pure US Cannabis ETF (MSOS) | 8.75% |
| Amplify Alternative Harvest ETF (MJ) | 6.38% |
| Global X Hydrogen ETF (HYDR) | 2.72% |
| WisdomTree Cloud Computing Fund (WCLD) | 2.26% |
| 1-Day Performance Laggards | |
| Sprott Active Gold & Silver Miners ETF (GBUG) | -1.50% |
| Roundhill Memory ETF (DRAM) | -1.46% |
| Tortoise Electrification Infrastructure ETF (TPZ) | -1.20% |
| iShares MSCI Global Gold Miners ETF (RING) | -1.15% |
| Global X Copper Miners ETF (COPX) | -1.08% |
Developed ex-U.S. & Emerging Markets
North American equities outside the U.S. showcased resilience as Canada (EWC) and Mexico (EWW) advanced 0.43% and 0.53%, supported by regional resource exposure. European markets generally faltered, highlighted by the -0.46% contraction in Germany (EWG) and a -0.62% decline in France (EWQ). Asian equities provided the most severe drag on the international complex as South Korea (EWY) shed -1.47% despite a massive 182.65% 1-Year return. Similarly, Thailand (THD) and India (INDA) retreated by -1.99% and -1.46% as local currency headwinds weighed on dollar-denominated returns.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets | |||||
| Canada (EWC) | 0.43% | 10.45% | 7.34% | 8.97% | 45.24% |
| Hong Kong (EWH) | 0.21% | 5.38% | 5.47% | 10.68% | 50.95% |
| Switzerland (EWL) | 0.08% | 10.98% | 3.87% | 4.22% | 22.58% |
| Netherlands (EWN) | -0.02% | 13.41% | 5.72% | 12.41% | 44.91% |
| Dev ex-U.S. (EFA) | -0.39% | 11.03% | 6.01% | 8.21% | 32.71% |
| Germany (EWG) | -0.46% | 12.54% | 1.06% | 1.15% | 16.85% |
| U.K. (EWU) | -0.52% | 9.46% | 7.38% | 9.14% | 35.06% |
| Australia (EWA) | -0.53% | 10.07% | 13.57% | 14.74% | 31.44% |
| France (EWQ) | -0.62% | 11.49% | 4.31% | 3.29% | 21.78% |
| Japan (EWJ) | -0.95% | 10.01% | 6.70% | 10.64% | 37.30% |
| South Korea (EWY) | -1.47% | 19.33% | 35.25% | 54.38% | 182.65% |
| Emerging Markets | |||||
| Mexico (EWW) | 0.53% | 14.33% | 7.06% | 15.22% | 50.93% |
| Taiwan (EWT) | 0.44% | 19.86% | 25.62% | 31.58% | 94.83% |
| Brazil (EWZ) | 0.34% | 17.80% | 22.84% | 30.00% | 72.73% |
| China (MCHI) | 0.02% | 7.41% | -3.81% | -1.28% | 22.98% |
| Malaysia (EWM) | -0.38% | 0.38% | 4.20% | 6.18% | 32.36% |
| Emerging (EEM) | -0.72% | 13.55% | 10.24% | 15.48% | 54.35% |
| South Africa (EZA) | -1.23% | 17.77% | 0.35% | 7.12% | 64.23% |
| Indonesia (EIDO) | -1.39% | 7.87% | -14.74% | -12.78% | 4.84% |
| India (INDA) | -1.46% | 8.46% | -2.32% | -6.51% | -3.31% |
| Thailand (THD) | -1.99% | 8.17% | 12.47% | 18.20% | 40.37% |
Fixed Income
Yield curve dynamics and credit spreads dictated fixed income performance as duration-sensitive assets largely consolidated. The Taxable Multisector (PYLD) space proved relatively insulated, securing a 0.08% daily advance alongside the short-duration Taxable Ultrashort (BIL) which added 0.01%. Further out on the risk spectrum, the Convertible (CWB) category outperformed traditional bonds with a 0.38% increase, benefiting from its underlying equity correlation. Conversely, international debt obligations lagged domestic issuance, evidenced by the International USD (BNDX) and Emerging USD (EMB) cohorts falling -0.12% and -0.08%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Taxable Multisector (PYLD) | 0.08% | 2.38% | 0.83% | 1.13% | 9.65% |
| Taxable Core (AGG) | -0.01% | 1.54% | 1.16% | 0.94% | 6.10% |
| Taxable Long Term (BLV) | -0.01% | 2.60% | 1.50% | 1.01% | 6.79% |
| Taxable Short-Term (BSV) | -0.04% | 0.87% | 0.77% | 0.64% | 4.37% |
| Taxable Core Enhanced (IUSB) | -0.06% | 1.60% | 1.14% | 0.96% | 6.51% |
| Government | |||||
| Taxable Ultrashort (BIL) | 0.01% | 0.28% | 0.88% | 1.06% | 3.95% |
| Inflation Protected (TIP) | -0.06% | 1.08% | 1.57% | 1.36% | 5.09% |
| Specialty | |||||
| Convertible (CWB) | 0.38% | 9.81% | 8.74% | 13.51% | 37.53% |
| Bank Loans (BKLN) | 0.02% | 1.47% | -0.12% | 0.01% | 7.65% |
| Preferred Stock (PFF) | -0.06% | 4.35% | 0.59% | 2.70% | 12.77% |
| Mortgage Backed (MBS) | -0.09% | 1.75% | 1.37% | 1.30% | 7.69% |
| International & EM | |||||
| International (IGOV) | -0.05% | 2.83% | 1.13% | 1.08% | 2.24% |
| Emerging USD (EMB) | -0.08% | 4.20% | 2.25% | 1.66% | 14.51% |
| Emerging (EMLC) | -0.08% | 5.16% | 1.84% | 2.47% | 14.78% |
| International USD (BNDX) | -0.12% | 1.20% | 0.42% | 0.57% | 2.37% |
| Municipals | |||||
| Municipal Long (MLN) | 0.11% | 2.63% | 2.73% | 2.02% | 8.65% |
| Municipal Intermediate (MUB) | 0.05% | 1.69% | 0.98% | 1.09% | 7.06% |
Commodities
The commodities complex provided substantial tailwinds to broader portfolios, headlined by the 0.99% gain in the Broad Commodities (DJP) index. Energy allocations drove the majority of this momentum, with WTI Crude Oil (USO) and Brent Crude Oil (BNO) surging 4.55% and 4.35% as supply-side narratives re-emerged. Conversely, industrial and precious metals struggled to maintain parity, leading to a -0.75% decline in Copper (CPER) and a -1.15% drawdown in the Precious Metals (DBP) composite. The agricultural sector presented mixed outcomes, characterized by a 1.25% gain in Wheat (WEAT) offsetting weaker segments of the softs market.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.99% | -0.40% | 17.85% | 25.37% | 38.55% |
| Agriculture | |||||
| Wheat (WEAT) | 1.25% | -0.44% | 13.13% | 13.92% | -4.41% |
| Corn (CORN) | 0.72% | -3.83% | 5.24% | 1.97% | -7.66% |
| Sugar (CANE) | 0.66% | -12.63% | -4.40% | -6.41% | -21.30% |
| Agriculture (DBA) | 0.26% | 0.52% | 5.88% | 5.76% | 4.91% |
| Energy | |||||
| WTI Crude Oil (USO) | 4.55% | -0.09% | 68.83% | 75.42% | 74.61% |
| Brent Crude Oil (BNO) | 4.35% | -10.34% | 59.34% | 67.55% | 68.32% |
| Energy (DBE) | 3.33% | -7.04% | 54.71% | 61.75% | 64.14% |
| Gasoline (UGA) | 3.26% | -4.37% | 54.16% | 62.53% | 70.89% |
| Natural Gas (UNG) | 0.09% | -12.43% | -12.29% | -11.50% | -36.29% |
| Industrial Metals | |||||
| Industrial Metals (DBB) | 0.16% | 11.91% | 5.31% | 8.98% | 42.97% |
| Copper (CPER) | -0.75% | 14.40% | 3.64% | 5.86% | 25.59% |
| Precious Metals | |||||
| Palladium (PALL) | -0.60% | 10.74% | -16.42% | -2.53% | 62.17% |
| Precious Metals (DBP) | -1.15% | 8.66% | -3.51% | 11.03% | 57.56% |
| Platinum (PPLT) | -1.64% | 8.64% | -15.51% | 1.54% | 113.96% |
Cryptocurrency
Digital assets endured a broad-based contraction as risk-off sentiment permeated the crypto ecosystem over the last 24 hours. The Ethereum (ETHA) proxy led the downside with a -4.13% depreciation, eroding its 1-Month gain down to 9.44%. Other major network tokens faced similar selling pressure, reflected by the -3.98% drop in Solana (SOLZ) and the -3.90% decline in XRP (XRP). The apex asset demonstrated slight relative strength within the cohort, as the Bitcoin (IBIT) tracker minimized its daily loss to -1.57%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Ethereum (ETHA) | -4.13% | 9.44% | -22.28% | -21.44% | 47.08% |
| Solana (SOLZ) | -3.98% | -3.66% | -33.04% | -31.46% | -41.83% |
| XRP (XRP) | -3.90% | -0.12% | -24.89% | -21.93% | N/A |
| Multi-Coin (NCIQ) | -1.98% | 7.62% | -17.29% | -15.32% | -8.65% |
| Bitcoin (IBIT) | -1.57% | 8.75% | -14.80% | -12.89% | -10.38% |
What to Watch Today
As markets prepare for the upcoming trading session, investors will sharply focus on preliminary manufacturing and services PMI data releases across major global economies. These metrics will provide critical insight into whether recent industrial expansion is translating into sustained economic growth or encountering late-cycle fatigue. Additionally, fixed income markets will monitor scheduled central bank commentary for any subtle shifts in monetary policy posture that could influence terminal rate expectations. Geopolitical developments impacting global supply chains remain a persistent backdrop that could inject abrupt volatility into energy and commodity pricing models.
