Macro Summary
Overall market volume was exceptionally muted during this session, registering $193.5B, strictly 50% of its trailing 30-day average. Activity remained broadly subdued across the landscape, failing to reach historical baselines across nearly all major asset classes.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $116.3B | $265.2B | 44% |
| Fixed Income | $29.5B | $43.8B | 67% |
| Commodity | $9.6B | $21.3B | 45% |
| Digital Asset | $4.2B | $5.6B | 75% |
| Currency | $162.9M | $178.1M | 91% |
| Alternative | $1.0B | $2.1B | 50% |
| Non-Traditional | $32.4B | $47.5B | 68% |
| Multi-Asset | $243.2M | $264.2M | 92% |
Equity
Equity trading was suppressed, settling at $116.3B in volume (44% of the 30-day average). However, specific pockets within U.S. Mid Cap Growth and U.S. Small Cap Value exhibited significant anomalous strength, capturing disproportionate rotational flows despite the prevailing market lull.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: U.S. Mid Cap – Growth | 260% | $831.0M | +0.42% |
| Equity: U.S. Small Cap – Value | 163% | $1.0B | +0.51% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| UMI | USCF Midstream Energy Income Fund ETF | 1382% | $40.1M | +0.16% |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | 1025% | $564.1M | +0.28% |
| IJS | iShares S&P Small-Cap 600 Value ETF | 824% | $576.2M | +0.50% |
| PTF | Invesco Dorsey Wright Technology Momentum ETF | 812% | $30.7M | +0.62% |
| RPV | Invesco S&P 500 Pure Value ETF | 452% | $66.5M | +0.31% |
| IMCB | iShares Morningstar Mid-Cap ETF | 448% | $17.1M | +0.49% |
| QEFA | State Street SPDR MSCI EAFE StrategicFactors ETF | 415% | $13.0M | +0.25% |
| DFEV | Dimensional Emerging Markets Value ETF | 395% | $42.2M | +0.57% |
| QQEW | First Trust Nasdaq-100 Select Equal Weight ETF | 375% | $29.0M | +0.71% |
| FHEQ | Fidelity Hedged Equity ETF | 362% | $17.0M | +0.41% |
Fixed Income
The Fixed Income class managed $29.5B in volume (67% of ADV), mirroring the broader market’s quiet tone. Still, anomalous single-fund activity surfaced notably within short-term and core enhanced vehicles, indicating targeted duration positioning by active participants.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AVSF | Avantis Short-Term Fixed Income ETF | 3396% | $96.6M | -0.11% |
| LDUR | PIMCO Enhanced Low Duration Active ETF | 1913% | $118.0M | -0.03% |
| PTRB | PGIM Total Return Bond ETF | 697% | $28.4M | -0.06% |
| MINO | PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 462% | $18.9M | +0.01% |
| LTPZ | PIMCO 15+ Year US TIPS Index Exchange-Traded Fund | 346% | $17.9M | -0.13% |
| XHLF | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 314% | $60.2M | -0.01% |
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | 307% | $50.9M | -0.03% |
| GSY | Invesco Ultra Short Duration ETF | 250% | $113.6M | -0.01% |
| UYLD | Angel Oak UltraShort Income ETF | 229% | $21.0M | -0.02% |
| GSST | Goldman Sachs Ultra Short Bond ETF | 223% | $24.2M | -0.02% |
Commodity
Commodities registered a highly restrained session with $9.6B transacted (45% of standard ADV). Flow velocity lacked conviction uniformly across the sector framework, failing to trigger category-level thresholds.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 201% | $43.0M | +0.19% |
Digital Asset
Digital Assets captured $4.2B in volume, hitting roughly 75% of average flow levels. Trading was generally balanced, punctuated by isolated strength in single-fund Bitcoin offerings.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| EZBC | Franklin Bitcoin ETF | 158% | $12.5M | +4.05% |
Currency
Currency volume checked in closely to its moving average, logging $162.9M (91% of ADV). The class remained mostly quiet with the exception of anomalous trading within Euro-focused trusts.
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 | 212% | $60.4M | +0.16% |
Alternative
Activity across Alternatives proved muted as $1.0B exchanged hands, representing exactly 50% of the normal 30-day run rate. Sector-wide conviction was thoroughly sidelined.
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
The Non-Traditional segment saw $32.4B in volume (68% of average). Notably, Equity Buffer strategies maintained robust appeal, experiencing elevated volume levels indicating disciplined risk-management or predefined outcome rotation by investors.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Buffer – Equity | 172% | $664.5M | +0.22% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| PJAN | Innovator U.S. Equity Power Buffer ETF – January | 712% | $35.2M | +0.37% |
| PAPR | Innovator U.S. Equity Power Buffer ETF – April | 667% | $40.3M | +0.22% |
| QFLR | Innovator Nasdaq-100 Managed Floor ETF | 616% | $21.3M | +0.33% |
| SFLR | Innovator Equity Managed Floor ETF | 437% | $44.6M | +0.18% |
| BALT | Innovator Defined Wealth Shield ETF | 269% | $46.2M | +0.13% |
| BUFZ | FT Vest Laddered Moderate Buffer ETF | 199% | $6.6M | +0.06% |
| LITX | Tradr 2X Long LITE Daily ETF | 156% | $206.4M | -12.85% |
Multi-Asset
Multi-Asset ETFs transacted $243.2M during the session, operating at 92% of their 30-day historical mean. The relatively active flow was balanced across strategies without widespread categorical spikes.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| RLY | State Street Multi-Asset Real Return ETF | 181% | $17.0M | +0.14% |
