A $7.9B International Shift: EFG and EFV Volumes Skyrocket Thousands of Percent Above Average

Posted on by ETF Action
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Macro Summary

The ETF market saw total volume of $247.8B, a significant session at 116% of its 30-day average. The surge in activity was largely driven by a massive rotation within the Equity asset class. Specifically, International Equity funds experienced an extraordinary session, with Global Ex-U.S. Growth and Value categories trading at 2778% and 844% of their respective 30-day averages. This points to a significant strategic reallocation by institutional investors. Additionally, the U.S. Large Cap Blend category saw volume at 117% of its average, contributing to the day’s heightened activity.

Explore the Live Asset Class Dashboard

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $176.2B $146.1B 121%
Fixed Income $31.0B $25.8B 120%
Commodities $8.8B $5.6B 157%
Crypto $4.9B $6.2B 78%
Currencies $92.7M $63.8M 145%
Alternatives $810.4M $965.3M 84%
Non-Traditional $26.0B $29.7B 87%
Multi-Asset $117.5M $126.5M 93%

Equity

The Equity asset class experienced a substantial $176.2B in volume, trading at 121% of its 30-day average. This was dominated by an exceptional rotation into International Equity ETFs, with Global Ex-U.S. Growth and Value funds trading at 2778% and 844% of their averages, respectively. This highlights a significant shift in institutional allocations. Further volume was seen in U.S. Large Cap funds, which also traded above their recent average.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Global Ex-U.S. Large Cap – Growth 2778% $4.8B -0.06%
Global Ex-U.S. Large Cap – Value 844% $3.7B -0.16%
Thematic – Disruptive Tech 625% $3.2B +0.01%
Thematic – Industrial Revolution 542% $654.7M +0.14%
Industrial 227% $4.2B -0.22%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
EFG iShares MSCI EAFE Growth ETF 8410% $4.6B -0.38%
EFV iShares MSCI EAFE Value ETF 2480% $3.3B -0.43%
BAI iShares A.I. Innovation and Tech Active ETF 11427% $2.7B +0.25%
IYW iShares U.S. Technology ETF 2944% $3.3B -0.33%
ITA iShares U.S. Aerospace & Defense ETF 2248% $2.4B +0.15%
DYNF iShares U.S. Equity Factor Rotation Active ETF 2582% $2.4B -0.42%
QUAL iShares MSCI USA Quality Factor ETF 1410% $2.6B -0.33%
USXF iShares ESG Advanced MSCI USA ETF 4032% $128.8M -0.84%
OEF iShares S&P 100 ETF 4813% $3.5B -0.30%
SHLD Global X Defense Tech ETF 1306% $570.9M +0.51%

Fixed Income

The Fixed Income asset class saw robust trading, with $31.0B in volume, 120% of its 30-day average. The primary driver was Municipal bonds, which traded at an exceptional 170% of their average volume. There was also notable activity in Taxable Core Enhanced and Emerging Market bond categories.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Taxable – Core Enhanced 752% $3.0B +0.12%
Taxable – Emerging 252% $172.9M +0.23%
Municipal – High Yield 191% $246.7M +0.07%
Municipal – Short 188% $287.6M +0.05%
Municipal – Intermediate 176% $1.7B +0.06%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
IUSB iShares Core Total USD Bond Market ETF 2322% $2.4B -0.03%
SUSC iShares ESG Aware USD Corporate Bond ETF 2271% $95.4M +0.04%
QLTA iShares Aaa-A Rated Corporate Bond ETF 1329% $87.9M -0.01%
HIMU iShares High Yield Muni Active ETF 1818% $191.9M +0.23%
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF 803% $27.9M +0.09%
HTAB Hartford Schroders Tax-Aware Bond ETF 1028% $36.6M +0.05%
EMHY iShares J.P. Morgan EM High Yield Bond ETF 620% $23.6M -0.21%
TLH iShares 10-20 Year Treasury Bond ETF 1168% $1.4B +0.13%
IAGG iShares Core International Aggregate Bond ETF 462% $158.2M -0.04%
VPLS Vanguard Core Plus Bond ETF 439% $40.5M +0.01%

Commodities

The Commodities asset class was exceptionally active, trading $8.8B in volume, which is 157% of its 30-day average. The primary driver was the Precious Metals category, which traded at 163% of its average on $8.1B of volume. The Broad Market commodity category also saw significant interest at 120% of its average.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Focused – Precious Metals 163% $8.1B -0.09%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF 816% $23.0M +0.85%
IAU iShares Gold Trust 483% $1.9B +0.29%

Crypto

The Digital Asset class experienced a quiet session with $4.9B in volume, just 78% of its 30-day average. Trading activity was below average across all major coin categories, including Bitcoin and Ethereum.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Category
No high-activity ticker outliers for this asset class.

Currencies

The Currency asset class saw elevated trading activity with $92.7M in volume, 145% of its 30-day average. The increased volume was broadly distributed across various currency ETFs.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
FXF Invesco CurrencyShares Swiss Franc Trust 212% $9.8M +0.99%
FXE Invesco CurrencyShares Euro Trust 207% $21.4M +0.82%

Alternatives

The Alternatives asset class had a quiet session with $810.4M in trading volume, which was 84% of its 30-day average. Activity was muted across the major strategies within this asset class.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Category
No high-activity ticker outliers for this asset class.

Non-Traditional

The Non-Traditional asset class registered $26.0B in volume, a quiet session at 87% of its 30-day average. The most notable activity was in the Synthetic Income – Commodity category, which traded at 140% of its average volume.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
BUFF Innovator Laddered Allocation Power Buffer ETF 509% $16.4M +0.06%
PJUL Innovator U.S. Equity Power Buffer ETF – July 352% $16.7M -0.20%
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 229% $40.6M -0.16%

Multi-Asset

The Multi-Asset class had a quiet trading day with $117.5M in volume, 93% of its 30-day average. The Global Macro category was a pocket of relative strength, trading at 130% of its average.

High-Volume Categories (>$100M Traded)

Category
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
ALLW SPDR Bridgewater All Weather ETF 161% $9.7M +0.67%
AOK iShares Core 30/70 Conservative Allocation ETF 155% $5.4M -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 volume. 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.

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