Macro Summary
The market experienced a muted session with total trading volume reaching $235.5B, tracking at 92% of the 30-day average. The broader tone reflects balanced, slightly subdued activity with isolated concentration in targeted thematic equities, digital assets, and structural yield strategies.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $145.3B | $166.5B | 87% |
| Fixed Income | $26.0B | $28.0B | 93% |
| Commodities | $5.8B | $8.3B | 70% |
| Digital Asset | $6.6B | $4.2B | 156% |
| Currencies | $118.0M | $117.8M | 100% |
| Alternatives | $1.1B | $1.1B | 95% |
| Non-Traditional | $50.5B | $48.2B | 105% |
| Multi-Asset | $284.9M | $239.9M | 119% |
Equity
Equity trading posted $145.3B in volume, operating below normal levels at 87% of its typical 30-day average. While core allocations were quiet, intense localized activity was observed within specialized thematic portfolios and specific Asia-Pacific regional exposures.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Industrial Revolution | 318% | $1.6B | +3.40% |
| Equity: Region – Asia-Pacific Ex-Japan | 210% | $343.6M | +3.02% |
| Equity: Thematic – Disruptive Tech | 184% | $4.0B | +2.69% |
| Equity: Global Ex-U.S. Large Cap – Growth | 150% | $350.4M | +1.66% |
| Equity: Thematic – FinTech | 143% | $161.1M | +1.54% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| NASA | Tema Space Innovators ETF | 882% | $938.4M | +8.29% |
| HDEF | Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 496% | $21.6M | +0.03% |
| IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | 409% | $71.2M | -0.44% |
| INFL | Horizon Kinetics Inflation Beneficiaries ETF | 361% | $56.1M | -0.57% |
| URNM | Sprott Uranium Miners ETF | 350% | $162.4M | +4.52% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 343% | $228.6M | +3.78% |
| XOVR | ERShares Private-Public Crossover ETF | 340% | $207.5M | +0.74% |
| FLKR | Franklin FTSE South Korea ETF | 340% | $106.8M | +10.27% |
| UFO | Procure Space ETF | 303% | $187.5M | +6.70% |
| CAOS | Alpha Architect Tail Risk ETF | 300% | $12.3M | -0.07% |
Fixed Income
Fixed Income observed $26.0B in traded volume, pacing slightly below normal at 93%. Despite the muted macro figure, high-yield municipals and targeted short-duration instruments commanded significant premiums in relative activity levels.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Municipal – High Yield | 417% | $439.8M | +0.54% |
| Fixed Income: Specialty – Interest Rate Volatility | 274% | $132.1M | -0.62% |
| Fixed Income: Taxable – Government Short | 224% | $1.3B | +0.17% |
| Fixed Income: Taxable – Short-Term | 170% | $1.6B | +0.03% |
| Fixed Income: Municipal – Single State | 157% | $160.7M | +0.56% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| VSDB | Vanguard Short Duration Bond ETF | 24398% | $691.3M | +0.19% |
| SHYM | iShares Short Duration High Yield Muni Active ETF | 7267% | $336.0M | +0.25% |
| MMIT | NYLI MacKay Muni Intermediate ETF | 5389% | $339.4M | +0.48% |
| EMBX | VanEck Emerging Markets Bond ETF | 1028% | $33.2M | +0.20% |
| VGSH | Vanguard Short-Term Treasury ETF | 579% | $1.1B | +0.09% |
| FALN | iShares Fallen Angels USD Bond ETF | 385% | $102.7M | +0.00% |
| LQDH | iShares Interest Rate Hedged Corporate Bond ETF | 288% | $8.3M | -0.01% |
| HTRB | Hartford Total Return Bond ETF | 288% | $24.0M | +0.40% |
| LTPZ | PIMCO 15+ Year US TIPS Index Exchange-Traded Fund | 257% | $12.0M | +0.75% |
| SKOR | FlexShares Credit-Scored US Corporate Bond Index Fund | 252% | $7.4M | +0.24% |
Commodities
Commodities saw muted participation with $5.8B in volume, achieving only 70% of typical activity levels across the asset class amid downward price pressure in broad market and energy segments.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CMDY | iShares Bloomberg Roll Select Commodity Strategy ETF | 693% | $27.1M | -0.97% |
| FTGC | First Trust Global Tactical Commodity Strategy Fund | 277% | $66.5M | -0.87% |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | 250% | $238.7M | -0.04% |
| COM | Direxion Auspice Broad Commodity Strategy ETF | 167% | $10.0M | -0.52% |
| PIT | VanEck Commodity Strategy ETF | 151% | $4.1M | -1.91% |
Digital Asset
Digital Assets experienced an active session, turning over $6.6B for a robust 156% relative activity mark. Bitcoin vehicles dominated the flow, driving the elevated engagement across the category.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Bitcoin | 167% | $5.9B | +0.16% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BRRR | Coinshares Bitcoin ETF | 236% | $9.3M | +0.13% |
| IBIT | iShares Bitcoin Trust ETF | 207% | $3.5B | +0.17% |
| EZBC | Franklin Bitcoin ETF | 185% | $13.5M | +0.13% |
Currencies
Currencies registered a perfectly balanced session, matching their 30-day average exactly with $118.0M in volume amid steady positioning across the complex.
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 | 278% | $44.7M | +0.23% |
Alternatives
Alternatives tracked slightly below trend at 95% activity, recording $1.1B in volume. Activity remained structurally consistent across both absolute return and volatility-oriented mandates.
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 strategies posted strong absolute numbers with $50.5B in volume, edging above typical turnover at 105% activity. Leveraged and inverse products dominated the trading landscape, securing significant outlier activity profiles.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| MUU | Direxion Daily MU Bull 2X ETF | 312% | $3.1B | +39.06% |
| MULL | GraniteShares 2x Long MU Daily ETF | 301% | $407.8M | +39.05% |
| ASTX | Tradr 2X Long ASTS Daily ETF | 284% | $518.6M | +25.38% |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 283% | $223.5M | +13.22% |
| AIPI | REX AI Equity Premium Income ETF | 246% | $12.8M | +0.61% |
| IQQQ | ProShares Nasdaq-100 High Income ETF | 205% | $5.4M | +1.66% |
| FEPI | REX FANG & Innovation Equity Premium Income ETF | 196% | $16.5M | +1.26% |
| ROCQ | JPMorgan Nasdaq Equity Premium Yield ETF | 195% | $18.0M | +1.46% |
| CHPY | YieldMax Semiconductor Portfolio Option Income ETF | 193% | $88.4M | +5.53% |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | 186% | $852.8M | +30.95% |
Multi-Asset
Multi-Asset products saw elevated engagement across the board, logging $284.9M in volume to achieve a solid 119% of their 30-day average. Target Risk profiles captured the bulk of rotational interest during the session.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Asset Allocation: Target Risk – Growth | 129% | $103.6M | +1.13% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| AOK | iShares Core 30/70 Conservative Allocation ETF | 333% | $24.8M | +0.55% |
| AGOX | Adaptive Alpha Opportunities ETF | 319% | $11.7M | +0.83% |
| CGBL | Capital Group Core Balanced ETF | 159% | $84.7M | +0.93% |
