Macro Summary
Total ETF market volume reached $289.0B today, representing 124% of the 30-day average. The day’s most compelling narrative was the extreme activity within Fixed Income outliers, specifically BHYB, which saw turnover skyrocket to 1757% of its normal levels as investors navigated high-yield credit markets. This broader trend of anomalous volume was supported by the Equity Small Cap Growth category, which surged to 391% of its average ADV (rising +1.18%), and the Natural Resources thematic category, which gained +1.93% on the day.
Asset Class Summary
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $192.1B | $161.3B | 119% |
| Fixed Income | $33.1B | $24.9B | 133% |
| Commodities | $16.1B | $10.0B | 161% |
| Crypto | $6.8B | $5.7B | 120% |
| Currencies | $112.1M | $74.7M | 150% |
| Alternatives | $603.9M | $831.2M | 73% |
| Non-Traditional | $40.1B | $29.6B | 136% |
| Multi-Asset | $213.8M | $174.5M | 122% |
Equity
Equity ETFs recorded a total volume of $192.1B, trading at 119% of their 30-day average. The session saw intense turnover in the U.S. Small Cap – Growth category (rising +1.18%) and the Natural Resources thematic category (climbing +1.93%). The category-level activity was driven by high-profile ticker outliers such as ESPO (closing -2.81%) and KSA (closing +2.85%), both of which saw volume exceed 800% of their typical daily averages.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: U.S. Small Cap – Growth | 391% | $889.7M | +1.18% |
| Equity: Thematic – Natural Resources | 259% | $2.1B | +1.93% |
| Equity: Thematic – Midstream & MLPs | 254% | $279.4M | -1.69% |
| Equity: Sector – Energy | 242% | $4.5B | -1.34% |
| Equity: Thematic – Industrial Revolution | 240% | $356.7M | +1.91% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| ESPO | VanEck Video Gaming and eSports ETF | 1009% | $26.7M | -2.81% |
| KSA | iShares MSCI Saudi Arabia ETF | 846% | $134.6M | +2.85% |
| OAKM | Oakmark U.S. Large Cap ETF | 797% | $54.8M | +0.21% |
| IXN | iShares Global Tech ETF | 735% | $134.8M | +0.91% |
| IXJ | iShares Global Healthcare ETF | 641% | $89.2M | +1.88% |
Fixed Income
Fixed Income ETFs traded $33.1B in volume, or 133% of the 30-day average. The session was dominated by heavy turnover in the Taxable – Core Enhanced category (down -0.02%) and the Taxable – Government Short category (flat on the day). These category movements were underscored by extreme ticker outliers, most notably BHYB (closing +0.02%) which reached 1757% activity, and HYLS (closing -0.19%) at 1385%.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Core Enhanced | 212% | $1.0B | -0.02% |
| Fixed Income: Taxable – Government Short | 173% | $878.0M | +0.00% |
| Fixed Income: Taxable – Short-Term | 171% | $1.4B | +0.02% |
| Fixed Income: Specialty – Defined Maturity | 162% | $635.7M | +0.01% |
| Fixed Income: Taxable – multisector | 162% | $500.1M | +0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BHYB | Xtrackers USD High Yield BB-B ex Financials ETF | 1757% | $235.2M | +0.02% |
| HYLS | First Trust Tactical High Yield ETF | 1385% | $95.6M | -0.19% |
| FSIG | First Trust Limited Duration Investment Grade Corporate ETF | 939% | $46.9M | -0.13% |
| LGOV | First Trust Long Duration Opportunities ETF | 893% | $25.3M | -0.59% |
| GSY | Invesco Ultra Short Duration ETF | 891% | $227.1M | 0.00% |
Commodities
Commodity ETFs saw robust activity with $16.1B in volume, or 161% of their 30-day average. The Focused – Precious Metals category led the asset class (rising +3.21%), significantly impacted by heavy trading in SLV (closing +6.56%). The Multi-Sector – Broad Market category also saw outsized volume (up +0.53%), largely driven by high turnover in BCI (closing +1.33%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Precious Metals | 163% | $15.1B | +3.21% |
| Commodity: Multi-Sector – Broad Market | 155% | $258.4M | +0.53% |
| Commodity: Focused – Energy | 135% | $681.1M | -1.63% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 464% | $101.6M | +1.33% |
| SLV | iShares Silver Trust | 215% | $7.6B | +6.56% |
| CPER | United States Copper Index Fund | 223% | $48.5M | +1.37% |
| PPLT | abrdn Physical Platinum Shares ETF | 196% | $365.2M | +7.92% |
| SIVR | abrdn Physical Silver Shares ETF | 189% | $379.5M | +6.49% |
Digital Asset
Crypto ETFs traded $6.8B, representing 120% of their 30-day average. The Cryptocurrency – Altcoin category saw high relative turnover (down -1.01%), significantly impacted by volatility in XRP (closing -2.52%). The Cryptocurrency – Bitcoin category also saw elevated activity (down -1.41%), largely driven by turnover in BTCO (closing -1.94%).
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Altcoin | 196% | $192.3M | -1.01% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XRP | Bitwise XRP ETF | 287% | $25.9M | -2.52% |
| XRPC | Canary XRP ETF | 278% | $16.7M | -2.41% |
| BTCO | Invesco Galaxy Bitcoin ETF | 257% | $28.6M | -1.94% |
| ETHW | Bitwise Ethereum ETF | 232% | $64.8M | -0.04% |
| BRRR | Coinshares Bitcoin ETF | 208% | $17.7M | -1.92% |
Currencies
Currency ETFs generated $112.1M in volume, trading at 150% of their 30-day average. The asset class saw steady turnover with a marginal positive return of +0.00%. Activity remained consistent across the Currency category, though no individual ticker outliers stood out in the session.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Currency | 150% | $112.1M | +0.00% |
High-Activity Ticker Outliers
| No high-activity ticker outliers for this asset class. |
Alternatives
Alternative ETFs traded $603.9M, which was 73% of the 30-day average volume. Activity was primarily noted in the Absolute Return – Managed Futures category (climbing +0.61%) and the Absolute Return – Event Driven category (rising +0.36%). Outliers like DBMF (closing +0.23%) at 183% activity highlighted the day’s tactical shifts.
High-Volume Categories (>$100M Traded)
| No categories met the high-volume criteria. |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| DBMF | iMGP DBi Managed Futures Strategy ETF | 183% | $34.4M | +0.23% |
| QAI | NYLI Hedge Multi-Strategy Tracker ETF | 162% | $7.2M | +0.55% |
| CTA | Simplify Managed Futures Strategy ETF | 153% | $13.5M | +0.74% |
| SVOL | Simplify Volatility Premium ETF | 151% | $9.5M | +0.62% |
Non-Traditional
Non-Traditional ETFs recorded $40.1B in volume, or 136% of their 30-day average. The Leverage | Inverse – Commodity category saw the most anomalous category activity (rising +0.15%), while the Buffer – Equity category also surged (up +0.24%). Outsized trading in SFLR (closing +0.15%) and FTQI (closing +0.02%) provided evidence of targeted positioning in structured outcome and income strategies.
High-Volume Categories (>$100M Traded)
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Commodity | 221% | $3.5B | +0.15% |
| Non-Traditional: Buffer – Equity | 169% | $520.6M | +0.24% |
| Non-Traditional: Leverage | Inverse – Single Stock | 148% | $11.5B | +1.58% |
| Non-Traditional: Synthetic Income – Equity | 142% | $2.0B | +0.57% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SFLR | Innovator Equity Managed Floor ETF | 587% | $33.3M | +0.15% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 516% | $26.7M | +0.02% |
| PJUL | Innovator U.S. Equity Power Buffer ETF – July | 361% | $13.8M | +0.18% |
| IDVO | Amplify CWP International Enhanced Dividend Income ETF | 323% | $22.7M | +0.39% |
| FTHI | First Trust BuyWrite Income ETF | 323% | $39.2M | +0.06% |
Multi-Asset
Multi-Asset ETFs saw a total volume of $213.8M, or 122% of their 30-day average. Turnover was noted in the Specialty – Alternative Asset Sleeve category (rising +0.55%) and the Target Risk – Global Macro category (up +0.86%). Ticker-level turnover was led by NTSX (closing +0.63%) and ALLW (closing +0.45%).
High-Volume Categories (>$100M Traded)
| No categories met the high-volume criteria. |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| NTSX | WisdomTree U.S. Efficient Core Fund | 367% | $12.1M | +0.63% |
| ALLW | SPDR Bridgewater All Weather ETF | 205% | $16.6M | +0.45% |
| INCM | Franklin Income Focus ETF Income Focus ETF | 163% | $11.9M | +0.30% |
