Industrial Revolution Theme Surges 296%; Energy & Staples Lead Flows

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Macro Summary

Trading activity was robust on Thursday, with total volume reaching $265.2B (113% of the 30-day average). The day’s most compelling narrative emerged from the Industrial Revolution thematic category, which saw trading activity surge to 296% of its average while posting a gain of +0.48%. This heightened interest was exemplified by heavy turnover in SHLD (closing +0.82%), which rallied amidst the broader thematic strength.

Asset Class Summary

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $184.6B $162.5B 114%
Fixed Income $27.4B $25.1B 109%
Commodity $11.7B $10.5B 111%
Digital Asset $5.0B $5.6B 88%
Currency $54.3M $74.5M 73%
Alternative $758.9M $791.1M 96%
Non-Traditional $35.6B $29.6B 120%
Multi-Asset $186.8M $177.6M 105%

Equity

Trading volume in Equity totaled $184.6B (114% of average). Activity was led by the Consumer Staples category (finishing the day +1.94%), largely driven by heavy turnover in XLP (closing +2.25%). The Industrial category also saw elevated volume, returning +1.12%.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Sector – Information Technology 129% $7.6B -1.32%
Equity: Sector – Health Care 172% $5.3B -0.99%
Equity: Sector – Financials 141% $4.2B +1.04%
Equity: Sector – Energy 181% $3.6B +2.53%
Equity: Sector – Industrial 187% $3.1B +1.12%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
EWN iShares MSCI Netherlands ETF 1731% $56.5M -0.99%
JVAL JPMorgan U.S. Value Factor ETF US Value Factor Fund 1671% $42.8M +0.50%
MFSI MFS Active International ETF 1659% $92.8M -0.05%
GSIE Goldman Sachs ActiveBeta International Equity ETF 1041% $159.9M +0.20%
PBUS Invesco MSCI USA ETF 847% $266.7M -0.03%
EUAD Select STOXX Europe Aerospace & Defense ETF 836% $108.3M +1.00%
IEUR iShares Core MSCI Europe ETF 644% $435.6M +0.10%
TOUS T. Rowe Price International Equity ETF 587% $25.9M +0.06%
DBJP Xtrackers MSCI Japan Hedged Equity ETF 576% $15.1M -0.62%
VTWG Vanguard Russell 2000 Growth ETF 566% $28.1M +0.79%

Fixed Income

Trading volume in Fixed Income totaled $27.4B (109% of average). Activity was led by the International USD category (finishing the day -0.04%), largely driven by heavy turnover in NXUS (closing -0.02%). The Bank Loans category also saw elevated volume, returning +0.11%.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Fixed Income: Taxable – International USD 267% $806.9M -0.04%
Fixed Income: Taxable – Bank Loans 195% $683.2M +0.11%
Fixed Income: Taxable – Preferred Stock 170% $417.5M +0.04%
Fixed Income: Taxable – Emerging 249% $172.7M -0.14%
Fixed Income: Taxable – Multisector 158% $496.3M -0.08%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
GSST Goldman Sachs Ultra Short Bond ETF 969% $95.7M +0.02%
HFSI Hartford Strategic Income ETF 874% $63.3M +0.00%
QLTA iShares Aaa-A Rated Corporate Bond ETF 499% $38.7M -0.22%
EVSD Eaton Vance Short Duration Income ETF 496% $25.5M +0.00%
TFLR T. Rowe Price Floating Rate ETF 492% $13.7M +0.13%
NXUS NuShares ETF Trust Nuveen International Aggregate Bond ETF 485% $250.0M -0.02%
CLOX Eldridge AAA CLO ETF 430% $14.6M +0.00%
BHYB Xtrackers USD High Yield BB-B ex Financials ETF 391% $83.0M +0.05%
KORP American Century Diversified Corporate Bond ETF 341% $8.8M -0.19%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund 338% $32.4M +0.06%

Commodity

Trading volume in Commodity totaled $11.7B (111% of average). Activity was led by the Energy category (finishing the day +2.16%), largely driven by heavy turnover in USO (closing +4.00%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Commodity: Focused – Energy 149% $766.2M +2.16%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
DBC Invesco DB Commodity Index Tracking Fund 171% $17.6M +0.62%
USO United States Oil Fund LP 158% $456.7M +4.00%

Digital Asset

Trading volume in Digital Asset totaled $5.0B (88% of average). Activity remained relatively muted across major categories.

High-Volume Categories (>$100M Traded)

Message
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
XRP Bitwise XRP ETF 180% $16.9M -2.20%

Currency

Trading volume in Currency totaled $54.3M (73% of average). Activity remained relatively muted across major categories.

High-Volume Categories (>$100M Traded)

Message
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 292% $14.1M -0.27%

Alternative

Trading volume in Alternative totaled $758.9M (96% of average). Activity remained relatively muted across major categories.

High-Volume Categories (>$100M Traded)

Message
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
CTA Simplify Managed Futures Strategy ETF 157% $14.0M +0.16%

Non-Traditional

Trading volume in Non-Traditional totaled $35.6B (120% of average). Activity was led by the Leverage | Inverse – Commodity category (finishing the day +0.03%), largely driven by heavy turnover in UCO (closing +7.27%).

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Leverage | Inverse – Commodity 139% $2.4B +0.03%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PNOV Innovator U.S. Equity Power Buffer ETF – November 519% $24.4M -0.07%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares 481% $55.2M +0.82%
DGP DB Gold Double Long Exchange Traded Notes 429% $15.7M +0.86%
ACIO Aptus Collared Investment Opportunity ETF 365% $17.8M -0.02%
USOI UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24; 2037 275% $19.8M +3.30%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares 249% $125.9M +13.02%
UCO ProShares Ultra Bloomberg Crude Oil 244% $103.5M +7.27%
MUU Direxion Daily MU Bull 2X Shares 235% $256.7M -7.11%
DPST Direxion Daily Regional Banks Bull 3X Shares 229% $94.8M +6.15%
ZSL ProShares UltraShort Silver 215% $431.1M +3.21%

Multi-Asset

Trading volume in Multi-Asset totaled $186.8M (105% of average). Activity remained relatively muted across major categories.

High-Volume Categories (>$100M Traded)

Message
No categories met the high-volume criteria.

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
YYY Amplify CEF High Income ETF 279% $10.0M -0.09%

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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