Markets Snap Back to Start the Week; Niche Resources ETFs (REMX, PHO) Top Most Active

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Macro Summary

Total ETF trading volume settled at $273.5B today, representing a modest 8% increase over the 30-day average. The day’s activity was notably concentrated in the Digital Asset space, which saw volumes surge to 152% of its recent average. This spike was largely driven by significant turnover in Bitcoin-focused products. While most other asset classes hovered near their typical volumes, Alternatives also showed heightened interest, trading at 158% of their 30-day average, primarily fueled by activity in volatility-linked ETFs.

Asset Class Summary

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $187.1B $173.5B 108%
Fixed Income $21.0B $27.8B 75%
Commodities $12.3B $9.4B 131%
Crypto $10.1B $6.7B 152%
Currencies $54.6M $73.3M 74%
Alternatives $1.6B $1.0B 158%
Non-Traditional $41.2B $33.9B 122%
Multi-Asset $160.1M $139.6M 115%

Equity

The Equity asset class saw $187.1B in total volume, trading at 108% of its 30-day average. Elevated activity was seen in Thematic Natural Resources and specific international categories. This was driven by notable turnover in ETFs like PHO and REMX within the Natural Resources theme, and high activity in the country-specific ETF KBA.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Thematic – Natural Resources 233% $2.1B +4.32%
Equity: Region – Country Specific 153% $9.1B +1.56%
Equity: Global Ex-U.S. Small | Mid Cap 174% $339.0M +0.91%
Equity: Thematic – Sustainability 167% $216.9M +3.77%
Equity: Thematic – FinTech 157% $209.2M +3.73%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PHO Invesco Water Resources ETF 1675% $57.6M +0.78%
OUSM ALPS O’Shares US Small-Cap Quality Dividend ETF 771% $29.8M +1.10%
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 602% $21.1M +2.75%
REMX VanEck Rare Earth and Strategic Metals ETF 574% $345.5M +15.11%
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 514% $152.3M +1.45%
SMMD iShares Russell 2500 ETF 420% $30.0M +2.12%
SMIN iShares MSCI India Small Cap ETF 383% $39.2M -0.15%
FELG Fidelity Enhanced Large Cap Growth ETF 356% $52.3M +1.97%
PBW Invesco WilderHill Clean Energy ETF 331% $94.0M +7.54%
QLTY GMO U.S. Quality ETF Shs 328% $18.4M +1.63%

Fixed Income

The Fixed Income asset class recorded $21.0B in volume, a quiet session at only 75% of its 30-day average. The most notable activity occurred in the Taxable Government Short and Convertible bond categories, though most other areas saw subdued turnover. The day’s highest activity was seen in BBAG within the Core space and SHY in the Government Short category, indicating some pockets of concentrated trading despite the overall lull.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF 982% $30.6M +0.00%
YEAR AB Ultra Short Income ETF 718% $85.7M +0.01%
LDUR PIMCO Enhanced Low Duration Active ETF 317% $11.7M +0.18%
BWX SPDR Bloomberg International Treasury Bond ETF 308% $24.7M -0.07%
SHY iShares 1-3 Year Treasury Bond ETF 289% $768.7M +0.09%
JCPB JPMorgan Core Plus Bond ETF 233% $92.0M +0.28%
SYFI AB Short Duration High Yield ETF 233% $11.4M +0.37%
LQDH iShares Interest Rate Hedged Corporate Bond ETF 212% $7.3M -0.01%
FLDR Fidelity Low Duration Bond Factor ETF 196% $18.1M +0.04%
TFLO iShares Treasury Floating Rate Bond ETF 194% $114.2M +0.01%

Commodities

Commodities experienced a surge in activity, with total volume reaching $12.3B, or 131% of its 30-day average. The primary driver was the Precious Metals category, which traded well above its typical levels. This heightened interest was clearly reflected in ETFs like SLV and SIVR, both of which saw significantly higher-than-average turnover.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Commodity: Focused – Precious Metals 135% $11.7B +2.92%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
GLTR abrdn Physical Precious Metals Basket Shares ETF 212% $26.8M +6.53%
SIVR abrdn Physical Silver Shares ETF 195% $136.4M +4.71%
SLV iShares Silver Trust 184% $2.7B +4.34%
UNG United States Natural Gas Fund LP 159% $188.4M -1.26%

Crypto

The Digital Asset class was a focal point of market activity, with volumes of $10.1B, representing 152% of its 30-day average. Trading was heavily concentrated in the Bitcoin and Ethereum categories. This surge was led by exceptionally high turnover in ETFs such as EZBC, HODL, and BTC, all of which traded at more than double their average daily volumes.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Digital Asset: Cryptocurrency – Bitcoin 160% $7.1B -0.69%
Digital Asset: Cryptocurrency – Ethereum 134% $2.9B +6.77%
Digital Asset: Cryptocurrency – Altcoin 150% $113.8M +0.18%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
EZBC Franklin Bitcoin ETF 285% $36.8M -0.56%
HODL VanEck Bitcoin ETF 275% $125.8M -0.70%
BTC Grayscale Bitcoin Mini Trust ETF 241% $172.3M -0.72%
ETHW Bitwise Ethereum ETF 188% $78.7M +6.69%
FETH Fidelity Ethereum Fund ETF 176% $239.8M +6.70%
SSK REX-Osprey SOL + Staking ETF 167% $41.5M +0.76%
ETH Grayscale Ethereum Mini Trust ETF 167% $344.6M +6.86%

Currencies

The Currencies asset class had a very quiet day, with total volume of $54.6M, representing just 74% of its 30-day average. No specific categories or tickers stood out with unusual activity.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
No high-activity ticker outliers for this asset class.

Alternatives

Alternatives saw robust trading, with volumes reaching $1.6B, a significant 158% of the 30-day average. The activity was overwhelmingly concentrated in the Volatility category, particularly among long-volatility products. This was evidenced by heavy turnover in ETFs like UVIX and VIXY.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Alternative: Volatility – Short 193% $231.7M +3.71%
Alternative: Volatility – Long 154% $1.3B -7.89%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
DBMF iMGP DBi Managed Futures Strategy ETF 217% $40.8M +2.89%
VIXY ProShares VIX Short-Term Futures ETF 193% $145.3M -7.51%
UVIX 2x Long VIX Futures ETF 177% $393.9M -14.87%

Non-Traditional

Non-Traditional products saw elevated trading, with total volume reaching $41.2B, or 122% of its 30-day average. The activity was driven by high turnover in several categories, including Leverage | Inverse Commodity and Synthetic Income – Single Stock. This was highlighted by exceptional activity in specific tickers like AMZY, which traded at over 13 times its average volume, and notable turnover in leveraged silver ETF AGQ.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Leverage | Inverse – Commodity 171% $1.3B +0.47%
Non-Traditional: Leverage | Inverse – Crypto 139% $2.7B +0.05%
Non-Traditional: Synthetic Income – Single Stock 139% $1.1B +2.31%
Non-Traditional: Leverage | Inverse – Equity 130% $22.4B +0.98%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
AMZY YieldMax AMZN Option Income Strategy ETF 1320% $64.7M +1.56%
QQA Invesco QQQ Income Advantage ETF 301% $12.5M +1.80%
AGQ ProShares Ultra Silver 264% $595.2M +11.72%
UGL ProShares Ultra Gold 261% $253.5M +4.91%
QID ProShares UltraShort QQQ 216% $659.3M -4.25%
YINN Direxion Daily FTSE China Bull 3X Shares 203% $275.6M +8.98%
RSPA Invesco S&P 500 Equal Weight Income Advantage ETF 203% $7.1M +0.93%
XYLD Global X S&P 500 Covered Call ETF 200% $66.2M +1.23%
PSQ ProShares Short QQQ 196% $341.6M -2.13%
TSLY YieldMax TSLA Option Income Strategy ETF 190% $413.5M +4.77%

Multi-Asset

The Multi-Asset class saw modest activity, with total volume of $160.1M, trading at 115% of its 30-day average. The most notable activity was in the Target Risk – Moderate and Aggressive categories, largely driven by turnover in iShares core allocation ETFs like AOM and AOA.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
AOA iShares Core 80/20 Aggressive Allocation ETF 166% $12.1M +1.32%
AOM iShares Core 40/60 Moderate Allocation ETF 154% $7.0M +0.73%

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.