Trends in Mutual Fund Investing
April 2026
Washington, DC; May 28, 2026—The combined assets of the nation’s mutual funds increased by $1.45 trillion, or 4.7 percent, to $32.25 trillion in April, according to the Investment Company Institute’s official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.
Total Net Assets of Mutual Funds*
Billions of dollars
| Apr 2026 | Mar 2026 | % change | Apr 2025 | |
| Total long-term | 24,579.7 | 23,026.1 | 6.7 | 21,068.4 |
|
Equity |
17,147.6 | 15,721.3 | 9.1 | 14,365.6 |
|
Domestic equity |
13,183.6 | 12,048.0 | 9.4 | 11,161.2 |
|
World equity |
3,964.0 | 3,673.2 | 7.9 | 3,204.4 |
|
Hybrid |
1,811.4 | 1,728.2 | 4.8 | 1,577.0 |
|
Bond |
5,620.6 | 5,576.6 | 0.8 | 5,125.8 |
|
Taxable bond |
4,760.6 | 4,726.6 | 0.7 | 4,339.8 |
|
Municipal bond |
860.0 | 850.0 | 1.2 | 786.0 |
| Total money market | 7,671.6 | 7,772.1 | -1.3 | 6,911.1 |
|
Taxable money market |
7,526.5 | 7,627.2 | -1.3 | 6,770.4 |
|
Tax-exempt money market |
145.1 | 144.9 | 0.1 | 140.7 |
| Total | 32,251.3 | 30,798.2 | 4.7 | 27,979.5 |
* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.
Note: Components may not add to the total because of rounding.
Net New Cash Flow of Mutual Funds*
Millions of dollars
| Apr 2026 | Mar 2026 | Jan–Apr 2026 | Jan–Apr 2025 | |
| Total long-term | -62,630 | -72,740 | -217,331 | -314,687 |
|
Equity |
-69,485 | -50,200 | -267,925 | -222,414 |
|
Domestic equity |
-65,652 | -38,428 | -212,911 | -155,351 |
|
World equity |
-3,833 | -11,772 | -55,014 | -67,062 |
|
Hybrid |
-5,719 | -11,042 | -25,799 | -42,227 |
|
Bond |
12,574 | -11,498 | 76,392 | -50,047 |
|
Taxable bond |
10,823 | -12,562 | 59,694 | -47,165 |
|
Municipal bond |
1,751 | 1,063 | 16,699 | -2,881 |
| Total money market | -113,811 | -29,679 | -131,719 | -12,122 |
|
Taxable money market |
-113,812 | -31,895 | -125,215 | -15,859 |
|
Tax-exempt money market |
1 | 2,217 | -6,504 | 3,737 |
| Total | -176,441 | -102,419 | -349,050 | -326,809 |
* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.
Note: Components may not add to the total because of rounding.
Highlights: Long-term funds—equity, hybrid, and bond funds—had a net outflow of $62.63 billion in April, versus an outflow of $72.74 billion in March.
Equity funds posted an outflow of $69.49 billion in April, compared with an outflow of $50.20 billion in March. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $3.83 billion in April, versus an outflow of $11.77 billion in March. Funds that invest primarily in the United States had an outflow of $65.65 billion in April, versus an outflow of $38.43 billion in March. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 1.7 percent in April, compared with 1.8 percent in March.
Hybrid funds posted an outflow of $5.72 billion in April, compared with an outflow of $11.04 billion in March.
Bond funds had an inflow of $12.57 billion in April, compared with an outflow of $11.50 billion in March. Taxable bond funds had an inflow of $10.82 billion in April, versus an outflow of $12.56 billion in March. Municipal bond funds had an inflow of $1.75 billion in April, compared with an inflow of $1.06 billion in March.
Money market funds had an outflow of $113.81 billion in April, compared with an outflow of $29.68 billion in March. In April funds offered primarily to institutions had an outflow of $64.48 billion and funds offered primarily to individuals had an outflow of $49.33 billion.
Number of Mutual Funds
| Apr 2026 | Mar 2026 | Apr 2025 | |
| Total long-term | 6,435 | 6,455 | 6,688 |
|
Equity |
3,953 | 3,969 | 4,126 |
|
Domestic equity |
2,705 | 2,710 | 2,795 |
|
World equity |
1,248 | 1,259 | 1,331 |
|
Hybrid |
596 | 598 | 612 |
|
Bond |
1,886 | 1,888 | 1,950 |
|
Taxable bond |
1,413 | 1,415 | 1,448 |
|
Municipal bond |
473 | 473 | 502 |
| Total money market | 267 | 266 | 263 |
|
Taxable money market |
226 | 225 | 222 |
|
Tax-exempt money market |
41 | 41 | 41 |
| Total | 6,702 | 6,721 | 6,951 |
* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.
About ICI’s Data
Data for prior dates reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. For more information about ICI data and classifications, please visit our FAQs.
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