June AAII Asset Allocation Survey: Fixed Income Bounces Back


Individual investors’ fixed-income allocations rebounded last month after having previously fallen to their lowest level in nearly a decade. The June AAII Asset Allocation Survey also shows declines in equities and cash.

Stock and stock fund allocations fell 1.4 percentage points to 68.6%. Nonetheless, equity allocations remain above their historical average of 61.0% for the 63rd consecutive month.

Bond and bond fund allocations rebounded by 1.6 percentage points to 15.7%. The rise wasn’t large enough to prevent bond and bond fund allocations from staying below their historical average of 16.0%.

Cash allocations declined by 0.2 percentage points to 15.7%. Cash allocations are below their historical average of 23.0% for the 79th consecutive month.

As noted above, the rise in fixed-income allocations follows what had been the lowest reading since September 2008 (13.7%). The modest rebound put bond and bond fund allocations back into a range we have seen throughout most of 2018. Both equity and cash allocations are also within their recent ranges.

Month-to-month changes in which AAII members participate can impact the Asset Allocation Survey’s results.

June AAII Asset Allocation Survey results:

  • Stocks and stock funds: 68.6%, down 1.4 percentage points
  • Bonds and bond funds: 15.7%, up 1.6 percentage points
  • Cash: 15.7%, down 0.2 percentage points

June AAII Asset Allocation Survey details:

  • Stocks: 31.8%, up 0.6 percentage points
  • Stock Funds: 36.8%, down 2.0 percentage points
  • Bonds: 3.3%, up 0.7 percentage points
  • Bond Funds: 12.5%, up 0.9 percentage points

Historical Averages:

  • Stocks/Stock Funds: 61.0%
  • Bonds/Bond Funds: 16.0%
  • Cash: 23.0%

*The numbers are rounded and may not add up to 100%.

The AAII Asset Allocation Survey has been conducted monthly since November 1987 and asks AAII members what percentage of their portfolios are allocated to stocks, stock funds, bonds, bond funds and cash. The survey and its results are available online at: www.aaii.com/investor-surveys.

Want to weigh in? Take the survey yourself and see results online at www.aaii.com/assetallocationsurvey

If you want to become an effective manager of your own assets and achieve your financial goals, consider a risk-free 30-day Trial AAII Membership.


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