For the week ending November 26, 2025, U.S. equity funds experienced their first net outflow in six weeks, as investors took profits amid concerns over high tech valuations, despite optimism over a potential Federal Reserve rate cut next month.

Key Fund Flow Highlights

• Net outflow from U.S. equity funds: $4.56 billion (first weekly net sales since October 15, 2025).
• Large-cap funds: $144 million outflow.
• Mid-cap funds: $1.69 billion outflow.
• Small-cap funds: $885 million outflow.

Investors have remained cautious despite the S&P 500 rising more than 3% during the week, as November saw heightened volatility, driven by stretched tech valuations and the economic fallout from a 43-day U.S. government shutdown.

Bond Funds Remain Attractive

While equity funds saw outflows, U.S. bond funds continued to attract investors for the eighth consecutive week, drawing approximately $8.6 billion in inflows:

• Short-to-intermediate government and treasury funds: $4.05 billion (largest weekly inflow since September 24).
• General domestic taxable fixed income funds: $1.59 billion inflow.

Money Market Funds

U.S. money market funds also regained favor, with net inflows of $25.28 billion following two weeks of net outflows.