U.S. ETF and Mutual Fund Flows Over the past 12 months, U.S. investors have poured more money into bonds and money market funds than into riskier equities, as geopolitical tensions linger and interest rates stay stubbornly high. Image: Goldman Sachs Global Investment Research
Risky vs. Safe Assets Fund Flows Over the past four weeks, inflows into risk assets have outpaced those into safer funds, pointing to a shift in investor appetite toward higher-return bets. With confidence rebuilding, markets are tilting back toward risk. Image: Goldman Sachs Global Investment Research
U.S. Fund Flows Since 2019, both cash and bonds have drawn substantial inflows, as investors have shifted toward perceived safety and income‑generating assets amid heightened macro uncertainty and evolving central‑bank policy. Image: Goldman Sachs Global Investment Research
Cumulative Global Sector Fund Flows Industrial funds have seen a surge in inflows over the past year, outpacing every other sector and showing no sign of losing momentum. Image: Deutsche Bank Asset Allocation
Tax Refunds and U.S. Equity Fund Flows U.S. equity fund inflows tend to pick up sharply during tax refund season. History suggests the next few weeks could see another wave of cash hitting the market. Image: Deutsche Bank Asset Allocation
Global Sector Fund Flows Excluding Tech Sector funds outside Tech have drawn a record $62 billion in inflows over the first five weeks of the year, more than the total for all of 2025. The rush shows investors are widening their bets beyond the usual tech favorites. Image: Deutsche Bank Asset Allocation
Cumulative Fund Flows Across Assets Many investors continue to favor the relative safety of bonds and money market funds over riskier equities, amid ongoing geopolitical tensions and relatively high interest rates. Image: Goldman Sachs Global Investment Research
Bond Fund Flows (Last 4 Weeks) Bond funds keep drawing strong inflows as investors look for yield and stability in a world of moderating inflation and lingering uncertainty. Image: Deutsche Bank Asset Allocation
Average Equity Fund Flow by Calendar Month Over the Past Decade Excluding U.S. Election Years History says year-end momentum has legs: outside U.S. election years, equity flows spike in December and stay strong through Q1—adding weight to the case for retail strength through early 2026. Image: J.P. Morgan Flows and Liquidity
Crypto Fund Flows Last week, crypto funds experienced substancial outflows, partly due to profit-taking. Image: Deutsche Bank Asset Allocation
YTD Cumulative Global Fund Flows into U.S. Equities Despite some volatility and brief periods of outflows, flows into U.S. equities in 2025 have been running above the 24-year average, with projections pointing to a record year for inflows. Image: Goldman Sachs Global Investment Research