June AAII Asset Allocation Survey: 13-Month High for Equity Allocations

Individual investors’ equity allocation reached a 13-month high last month. The June Asset Allocation Survey also shows lower fixed-income exposure and a small change in cash allocations.

Stock and stock fund allocations increased 0.8 percentage points to 66.0%. Equity allocations were last higher in May 2022 (67.1%). Additionally, this slight increase keeps stock and stock fund allocations above their historical average of 61.5% for the 37th consecutive month.

Bond and bond fund allocations decreased 0.7 percentage points to 14.1%. June marks the 28th consecutive month with fixed-income allocations below their historical average of 16.0%.

Cash allocations decreased 0.2 percentage points to 19.8%. Cash allocations are below their historical average of 22.5% for the seventh consecutive month.

Optimism in the weekly AAII Sentiment Survey has been above average for almost all of June, while pessimism has been below average and reached its lowest level since November 2021.

• Stocks and Stock Funds: 66.0%, up 0.8 percentage points
• Bonds and Bond Funds: 14.1%, down 0.7 percentage points
• Cash: 19.8%, down 0.2 percentage points

• Stocks: 34.3%, up 0.7 percentage points
• Stocks Funds: 31.7%, up 0.1 percentage points
• Bonds: 4.0%, down 0.3 percentage points
• Bond Funds: 10.1%, down 0.4 percentage points

• Stocks/Stock Funds: 61.5%
• Bonds/Bond Funds: 16.0%
• Cash: 22.5%