2025年美国家庭选择共同基金时的考虑因素（PDF）

What US Households Consider When They Select Mutual Funds, 2025 Key Findings »Mutual fund investors review a fund’s investment objective, as well as the risk level of the fund’sinvestments, when making their fund purchase decision.In 2025, more than nine out of 10 mutualfund–owning households considered a fund’s investment objective, as well as the risk level of a fund’s »Nearly all mutual fund investors agree that diversification and cost effectiveness are important featuresof mutual funds.In 2025, more than nine out of 10 also agree that professional management is another »Mutual fund investors typically examine the historical performance of a fund and a fund’s performancecompared with an index when purchasing a mutual fund.In 2025, more than nine out of 10 mutualfund–owning households considered these performance measures when selecting mutual funds. About »Mutual fund investors also review fund fees and expenses.In 2025, more than nine out of 10 mutualfund–owning households considered fund fees and expenses when selecting their mutual funds. About »Households owning exchange-traded funds (ETFs) similarly research their ETF purchases.About halfof ETF-owning households indicated that historical performance was very important to their ETFpurchase decision, and more than half indicated that fund fees and expenses were very important to Table of Contents 1Background on Mutual Fund–Owning Households2Mutual Fund–Owning Households Review Several Key Pieces of Information When Selecting Funds7ETF-Owning Households Similarly Research ETF Purchases8Notes Michael Bogdan, associate economist, and Daniel Schrass, assistant director, investor research and surveys, prepared thisreport. Thanks to Vince Campana, research associate, for research assistance. Suggested citation: Bogdan, Michael, and Daniel Schrass. 2026. “What US Households Consider When They Select MutualFunds, 2025.”ICI Research Perspective32, no. 5 (May). Available atwww.ici.org/files/2026/per32-05.pdf. Background on Mutual Fund–Owning Households ICI’s Annual Mutual Fund Shareholder Tracking Survey gathers information on mutual fund–owning households.In 2025, the survey found that 72.7 million US households, or 54%, owned mutual funds.1In 2025, the survey This paper, which presents the results from that question, first describes the variety of financial services firmsthat US households use to purchase mutual funds; it then analyzes mutual fund–owning households’ willingness Mutual Funds Are Offered Through an Array of Financial Services Firms A wide array of financial services firms offer mutual funds, and households own mutual funds both inside andoutside employer-sponsored retirement plans. In 2025, 73% of mutual fund–owning households held mutualfunds through employer-sponsored retirement plans.3US households also own mutual funds outside ofemployer-sponsored retirement plans, with many seeking the help of investment professionals when makingmutual fund investments and some going directly to mutual fund companies or discount brokers. In 2025, 72% Mutual Fund–Owning Households Review Several Key Pieces ofInformation When Selecting Funds Fund Investment Objectives and Risks Are Important to MutualFund–Owning Households When asked about the information they consider when choosing a mutual fund, mutual fund–owning householdssaid they typically review a fund’s investment objective as well as the risk level of a fund’s investments. In 2025,93% of mutual fund–owning households considered a fund’s investment objective when making their purchase FIGURE 1 Most Shareholders Review Investment Risks and Objectives When Selecting Mutual FundsPercentage of mutual fund–owning households, 2025 Reflecting their consideration of risk when selecting funds and their willingness to take investment risk, it is notsurprising that most mutual fund–owning households engage in equity investing through their mutual funds.Households owning mutual funds are far more willing to take investment risk than US households in general.In 2025, 34% of households owning mutual funds were willing to take above-average or substantial risk with Analyzing the composition of household mutual fund assets also demonstrates that households are focused onequity investing. At year-end 2025, households owned 87% of industrywide mutual fund assets, or $27.4 trillion inmutual fund assets (Figure 3).8More than half of households’ mutual fund assets were invested in equity funds Equity Funds Are the Most Commonly Owned Type of Mutual FundPercentage of US households owning mutual funds, 2025 FIGURE 3 Equity Funds Represent the Majority of Households’ Mutual Fund AssetsPercentage of total household mutual fund assets, year-end 2025 Funds Offer Cost-Effective, Diversified, and Professionally Managed Investing Mutual fund–owning households appreciate the benefits of fund investing. In 2025, a vast majority of mutualfund–owning households agree that the cost effectiveness of mutual f