Trends in Mutual Fund Investing
July 2026
Washington, DC; August 28, 2026—The combined assets of the nation’s mutual funds decreased by $374.68 billion, or 1.1 percent, to $32.85 trillion in July, 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
| Jul 2026 | Jun 2026 | % change | Jul 2025 | |
| Total long-term | 24,988.7 | 25,319.7 | -1.3 | 22,573.9 |
|
Equity |
17,482.3 | 17,762.5 | -1.6 | 15,647.4 |
|
Domestic equity |
13,462.1 | 13,678.2 | -1.6 | 12,217.2 |
|
World equity |
4,020.2 | 4,084.3 | -1.6 | 3,430.2 |
|
Hybrid |
1,824.7 | 1,829.8 | -0.3 | 1,672.2 |
|
Bond |
5,681.7 | 5,727.3 | -0.8 | 5,254.3 |
|
Taxable bond |
4,811.1 | 4,846.3 | -0.7 | 4,458.6 |
|
Municipal bond |
870.7 | 881.0 | -1.2 | 795.7 |
| Total money market | 7,856.7 | 7,900.4 | -0.6 | 7,092.8 |
|
Taxable money market |
7,707.0 | 7,751.6 | -0.6 | 6,956.1 |
|
Tax-exempt money market |
149.7 | 148.8 | 0.6 | 136.7 |
| Total | 32,845.4 | 33,220.1 | -1.1 | 29,666.7 |
* 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
| Jul 2026 | Jun 2026 | Jan–Jul 2026 | Jan–Jul 2025 | |
| Total long-term | -94,751 | -92,287 | -479,076 | -760,726 |
|
Equity |
-102,760 | -104,869 | -586,071 | -721,367 |
|
Domestic equity |
-70,648 | -81,595 | -453,981 | -616,428 |
|
World equity |
-32,112 | -23,274 | -132,090 | -104,939 |
|
Hybrid |
-6,841 | -10,231 | -49,921 | -61,480 |
|
Bond |
14,850 | 22,813 | 156,916 | 22,121 |
|
Taxable bond |
10,944 | 18,802 | 125,443 | 14,036 |
|
Municipal bond |
3,907 | 4,011 | 31,474 | 8,085 |
| Total money market | -57,358 | 62,551 | -6,281 | 115,977 |
|
Taxable money market |
-57,913 | 60,291 | -3,344 | 117,153 |
|
Tax-exempt money market |
555 | 2,260 | -2,937 | -1,176 |
| Total | -152,109 | -29,736 | -485,357 | -644,749 |
* 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 $94.75 billion in July, versus an outflow of $92.29 billion in June.
Equity funds posted an outflow of $102.76 billion in July, compared with an outflow of $104.87 billion in June. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $32.11 billion in July, versus an outflow of $23.27 billion in June. Funds that invest primarily in the United States had an outflow of $70.65 billion in July, versus an outflow of $81.60 billion in June. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 1.6 percent in July, unchanged from June.
Hybrid funds posted an outflow of $6.84 billion in July, compared with an outflow of $10.23 billion in June.
Bond funds had an inflow of $14.85 billion in July, compared with an inflow of $22.81 billion in June. Taxable bond funds had an inflow of $10.94 billion in July, versus an inflow of $18.80 billion in June. Municipal bond funds had an inflow of $3.91 billion in July, compared with an inflow of $4.01 billion in June.
Money market funds had an outflow of $57.36 billion in July, compared with an inflow of $62.55 billion in June. In July funds offered primarily to institutions had an outflow of $48.47 billion and funds offered primarily to individuals had an outflow of $8.89 billion.
Number of Mutual Funds
| Jul 2026 | Jun 2026 | Jul 2025 | |
| Total long-term | 6,384 | 6,389 | 6,640 |
|
Equity |
3,914 | 3,919 | 4,093 |
|
Domestic equity |
2,683 | 2,688 | 2,784 |
|
World equity |
1,231 | 1,231 | 1,309 |
|
Hybrid |
595 | 594 | 611 |
|
Bond |
1,875 | 1,876 | 1,936 |
|
Taxable bond |
1,408 | 1,408 | 1,438 |
|
Municipal bond |
467 | 468 | 498 |
| Total money market | 268 | 268 | 260 |
|
Taxable money market |
229 | 229 | 221 |
|
Tax-exempt money market |
39 | 39 | 39 |
| Total | 6,652 | 6,657 | 6,900 |
* 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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