Macro Summary
The ETF market concluded the session with a total volume of $289.7B, representing an activity level of 110% versus the 30-day average. The trading day was characterized by an extraordinary concentration of activity in the Industrials sector and a powerful bid for Precious Metals. While broader Equity benchmarks remained relatively stable, specific sub-sectors saw institutional-grade volume spikes, particularly within Industrial and Energy segments. Commodities led the relative activity rankings at 140% of their average, driven by a sharp rally in gold and silver-related products.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $189.8B | $181.3B | 105% |
| Fixed Income | $33.7B | $27.1B | 125% |
| Commodities | $21.2B | $15.2B | 140% |
| Digital Asset | $5.3B | $5.7B | 93% |
| Currencies | $79.3M | $68.3M | 116% |
| Alternatives | $876.2M | $912.4M | 96% |
| Non-Traditional | $38.5B | $32.5B | 118% |
| Multi-Asset | $215.1M | $197.0M | 109% |
Equity
Equity volume totaled $189.8B, holding steady at 105% of normal levels. The session saw massive outliers in Industrials, with IYJ (+0.07%) trading at over 10x its normal activity. Thematic activity was dominated by Precious Metals and Sustainability, as TAN (+4.06%) and SIL (+6.12%) saw significant turnover.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Region – Asia-Pacific Emerging | 399% | $27.3M | +0.51% |
| Equity: Region – Latin America | 287% | $262.3M | +1.86% |
| Equity: Thematic – Health Innovation | 238% | $181.5M | +1.53% |
| Equity: Thematic – Sustainability | 210% | $288.2M | +1.73% |
| Equity: Global Small | Mid Cap | 208% | $43.6M | +0.64% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SPYX | State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 2875% | $150.8M | +0.38% |
| DWAS | Invesco Dorsey Wright SmallCap Momentum ETF | 1107% | $85.0M | +1.11% |
| IYJ | iShares U.S. Industrials ETF | 1033% | $101.8M | +0.07% |
| USVM | VictoryShares US Small Mid Cap Value Momentum ETF | 831% | $45.4M | +0.22% |
| JVAL | JPMorgan U.S. Value Factor ETF | 745% | $32.2M | +0.46% |
| JMOM | JPMorgan U.S. Momentum Factor ETF | 580% | $37.3M | +0.07% |
| IHF | iShares U.S. Healthcare Providers ETF | 548% | $68.8M | +1.24% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 492% | $24.6M | +0.53% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 469% | $120.6M | +0.45% |
| IWLG | NYLI Winslow Large Cap Growth ETF | 453% | $15.2M | +0.48% |
Fixed Income
Fixed Income activity surged to 125% of its average on $33.7B in volume. Corporate and Government Long categories saw notable interest, while High Yield Credit saw intense activity in lower-rated segments like XCCC (+0.46%), which traded at 934% of its ADV.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Emerging USD | 181% | $1.2B | +0.08% |
| Fixed Income: Taxable – Long-Term | 161% | $821.6M | -0.16% |
| Fixed Income: Taxable – Inflation Protected | 157% | $939.8M | -0.04% |
| Fixed Income: Taxable – Short-Term | 156% | $1.6B | +0.01% |
| Fixed Income: Taxable – Bank Loans | 144% | $567.9M | +0.05% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| XCCC | BondBloxx CCC-Rated USD High Yield Corporate Bond ETF | 934% | $66.9M | +0.46% |
| CDX | Simplify High Yield ETF | 693% | $27.3M | +0.11% |
| GBIL | ACCESS TREASURY 0-1 YEAR ETF | 587% | $398.4M | +0.00% |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 414% | $34.7M | +0.00% |
| FSMB | First Trust Short Duration Managed Municipal ETF | 390% | $10.0M | +0.10% |
Commodities
Commodities were a primary focal point, trading at 140% of their 30-day average. Precious Metals saw massive volume as GLDM (+1.96%) and IAUM (+1.98%) led activity. Natural Gas also saw high turnover via UNG (-2.82%).
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Commodity: Focused – Energy | 165% | $1.1B | -1.45% |
| Commodity: Focused – Precious Metals | 140% | $19.9B | +2.90% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| UNG | United States Natural Gas Fund LP | 263% | $676.8M | -2.82% |
| GLDM | SPDR Gold Minishares Trust | 214% | $1.3B | +1.96% |
| IAUM | iShares Gold Trust Micro ETF | 194% | $269.9M | +1.98% |
| AAAU | Goldman Sachs Physical Gold ETF | 181% | $163.8M | +1.97% |
| HGER | Harbor Commodity All-Weather Strategy ETF | 170% | $32.0M | -0.09% |
Digital Asset
Digital Asset volume was slightly muted at 93% of the average ($5.3B). Sentiment was broadly negative across major cryptocurrencies, with Bitcoin and Ethereum-related products finishing in the red. BITW (-1.15%) saw the highest relative activity within the class.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BITW | Bitwise 10 Crypto Index ETF | 159% | $11.1M | -1.15% |
Currencies
Currency ETFs saw slightly elevated activity at 116% of average. The Euro and Swiss Franc saw the most notable shifts, with FXE (+0.51%) leading ticker turnover.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXE | Invesco CurrencyShares Euro Trust | 197% | $18.2M | +0.51% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | 163% | $12.4M | +0.67% |
Alternatives
Alternative ETFs had a balanced session with volume at $876.2M. Volatility strategies were the primary driver of class volume, though no specific categories or tickers breached the high-activity thresholds for inclusion in the summary tables.
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.
Non-Traditional
Non-Traditional volume reached $38.5B (118% activity). Leveraged and Inverse products saw high engagement, specifically in Single Stock and Commodity plays. JNUG (+11.17%) and BOIL (-5.73%) were among the most active.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Commodity | 163% | $4.0B | +0.54% |
| Non-Traditional: Synthetic Income – Commodity | 151% | $72.7M | +1.11% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| GJAN | FT Vest U.S. Equity Moderate Buffer ETF – Jan | 312% | $12.9M | +0.28% |
| DDM | ProShares Ultra Dow30 | 303% | $92.8M | +1.11% |
| BOIL | ProShares Ultra Bloomberg Natural Gas | 298% | $776.4M | -5.73% |
| BUYW | Main BuyWrite ETF | 293% | $15.6M | -0.24% |
| FJAN | FT Vest US Equity Buffer ETF – January | 277% | $12.6M | +0.37% |
Multi-Asset
Multi-Asset volume was $215.1M (109% activity). Global Macro strategies led relative activity, with ALLW (+0.19%) representing the session’s primary outlier.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| ALLW | SPDR Bridgewater All Weather ETF | 215% | $22.6M | +0.19% |
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.
