Macro Summary
The trading session on February 9, 2026, concluded with a total market volume of $290.8B, representing 92% of the 30-day average. The session tone was characterized by balanced activity with pockets of aggressive rotation, particularly within International Equity and specific Taxable Fixed Income segments like Emerging Market USD debt and Bank Loans. While broad U.S. Equity indices showed muted volume, thematic sectors and international benchmarks saw heightened engagement as investors navigated a mixed return landscape.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $201.1B | $204.7B | 98% |
| Fixed Income | $29.5B | $31.4B | 94% |
| Commodity | $15.9B | $29.6B | 54% |
| Digital Asset | $6.5B | $7.1B | 92% |
| Currency | $121.1M | $106.8M | 113% |
| Alternative | $904.3M | $1.1B | 84% |
| Non-Traditional | $36.5B | $40.3B | 91% |
| Multi-Asset | $357.3M | $229.5M | 156% |
Equity
Equity ETFs saw $201.1B in total volume (98% ADV). International and Thematic strategies led the session’s activity. The Equity: Global Ex-U.S. Large Cap – Growth category was a standout, posting a +1.64% return on 129% activity. Significant single-country moves were seen in Japan (FLJP: +2.07%) and Germany (DAX: +1.85%).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Infrastructure | 158% | $662.2M | +1.17% |
| Equity: Thematic – Multi-Sector | 151% | $965.1M | +1.57% |
| Equity: Sector – Communication Services | 131% | $1.1B | +0.92% |
| Equity: Global Ex-U.S. Large Cap – Growth | 129% | $377.9M | +1.64% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FLJP | Franklin FTSE Japan ETF | 587% | $185.9M | +2.07% |
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 406% | $792.3M | +1.45% |
| GRID | First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | 394% | $278.6M | +1.80% |
| PWB | Invesco Large Cap Growth ETF | 370% | $19.5M | +1.09% |
| SPAB | State Street SPDR Portfolio Aggregate Bond ETF | 347% | $291.9M | +0.19% |
| FDLO | Fidelity Low Volatility Factor ETF | 315% | $13.3M | +0.04% |
| VIGI | Vanguard International Dividend Appreciation ETF | 281% | $120.5M | +1.40% |
| IXUS | iShares Core MSCI Total International Stock ETF | 265% | $567.9M | +1.31% |
| VTWG | Vanguard Russell 2000 Growth ETF | 257% | $18.1M | +0.99% |
| IYK | iShares U.S. Consumer Staples ETF | 248% | $49.2M | -0.73% |
Fixed Income
Fixed Income ETFs recorded $29.5B in volume (94% ADV). Significant activity concentrated in Emerging Markets USD debt (134% activity) and Bank Loans (133% activity). Notably, the iShares Fallen Angels USD Bond ETF (FALN) showed heavy engagement with a return of +0.24% on over 400% activity.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Emerging USD | 134% | $1.2B | +0.09% |
| Fixed Income: Taxable – Bank Loans | 133% | $812.3M | +0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SUSC | iShares ESG Aware USD Corporate Bond ETF | 1085% | $47.8M | -0.02% |
| FALN | iShares Fallen Angels USD Bond ETF | 422% | $74.8M | +0.24% |
| GSY | Invesco Ultra Short Duration ETF | 346% | $149.4M | +0.07% |
| SPAB | State Street SPDR Portfolio Aggregate Bond ETF | 347% | $291.9M | +0.02% |
| SPTI | State Street SPDR Portfolio Intermediate Term Treasury ETF | 290% | $198.5M | +0.09% |
| VRP | Invesco Variable Rate Preferred ETF | 236% | $32.4M | -0.02% |
| JCPB | JPMorgan Core Plus Bond ETF | 217% | $115.5M | +0.05% |
| SPTL | State Street SPDR Portfolio Long Term Treasury ETF | 196% | $335.9M | +0.00% |
| FTSM | First Trust Enhanced Short Maturity ETF | 190% | $97.5M | +0.01% |
| SPMB | State Street SPDR Portfolio Mortgage Backed Bond ETF | 177% | $29.3M | +0.02% |
Commodities
Commodity ETFs traded $15.9B, a relatively light session at 54% ADV. The Broad Market Multi-Sector category was the high-activity outlier (157% activity). A massive volume/activity spike was observed in CERY (+1.59% return), which saw 4276% of its normal activity.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Multi-Sector – Broad Market | 157% | $392.7M | +1.01% |
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Digital Asset
Digital Asset ETFs posted $6.5B in volume (92% ADV). Performance was strong in the Ethereum complex, with Digital Asset: Cryptocurrency – Ethereum returning +2.93% on the day, though overall activity levels remained slightly below average.
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.
Currencies
Currency ETFs saw elevated engagement with $121.1M in volume, hitting 113% of the 30-day average. The broader asset class returned a positive +0.40%.
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.
Alternatives
Alternatives traded $904.3M (84% ADV). Significant rotation was observed in Managed Futures (227% activity), driven heavily by CTA, which saw over 700% activity. Long Volatility strategies remained a drag on performance, returning -3.44%.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Alternative: Absolute Return – Managed Futures | 227% | $106.7M | +1.22% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CTA | Simplify Managed Futures Strategy ETF | 771% | $73.5M | +1.11% |
Non-Traditional
Non-Traditional ETFs (Leveraged, Inverse, Buffer, etc.) traded $36.5B (91% ADV). Single-stock leverage remains the primary driver of volatility and volume. Direxion Daily PLTR Bull 2X (PLTU) exploded for a +10.66% return on 201% activity.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PLTU | Direxion Daily PLTR Bull 2X Shares | 201% | $219.1M | +10.66% |
| NVDX | T-Rex 2X Long NVIDIA Daily Target ETF | 199% | $305.8M | +4.74% |
| AMZU | Direxion Daily AMZN Bull 2X Shares | 192% | $185.6M | -1.47% |
| SSO | ProShares Ultra S&P 500 | 191% | $441.0M | +1.01% |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | 182% | $99.2M | +3.43% |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | 171% | $1.4B | +4.89% |
| QYLD | Global X NASDAQ 100 Covered Call ETF | 152% | $194.7M | +0.68% |
Multi-Asset
Multi-Asset ETFs were a high-activity standout, trading $357.3M (156% ADV). Significant interest flowed into Specialty Alternative Asset Sleeve (251% activity) and Real Assets (541% activity). The VanEck Real Assets ETF (RAAX) led the ticker outliers with 934% activity and a +1.58% return.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Specialty – Alternative Asset Sleeve | 251% | $116.5M | +2.12% |
| Asset Allocation: Target Risk – Global Macro | 169% | $49.7M | +0.68% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RAAX | VanEck Real Assets ETF | 934% | $69.9M | +1.58% |
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.
