Division of Investment Management

Division of Investment Management

Analytics Office

Registered Fund Statistics

Form N-PORT Data, period ending March 2024

August 6, 2024

This is a report of the Staff of the Division of Investment Management’s Analytics Office of the U.S.

Securities and Exchange Commission. The Commission has expressed no view regarding the analysis,

findings, or conclusions contained herein.

Information presented in this report reflects staff’s compilation and analysis of data reported to

the Commission on Form N-PORT, certain other filings (e.g., Form N-CEN), and supplemental

third-party data. The presented information does not reflect any filings or amended filings

submitted after August 06, 2024.

August 6, 2024

Analytics Office

Introduction

This report provides statistics and trends for SEC-registered investment companies that file

reports of portfolio holdings on Form N-PORT each month, reflecting data collected through Form

N-CEN and Form N-PORT filings received through August 06, 2024 for reporting periods from

March 2019 through March 2024. The table below provides information on investment companies

which are required to file on Form N-PORT and are captured in this report.

Fund Type

Mutual Funds registered on Form N-1A (excluding money market funds)

Exchange-Traded Funds (ETFs) registered on

Form N-1A, or as a unit investment trust on

Form N-8B-2

Closed-End Funds registered on Form N-2 as a

management investment company (including interval funds and non-traded funds registered on

Form N-2)

Seperate accounts offering variable annuity contracts on Form N-3

Business Development Companies (BDCs)

Money Market Funds regulated under rule 2a-7

Small business investment companies registered

on Form N-5

Unit Investment Trusts registered on Form N-4

or N-6

Unit Investment Trusts registered on Forms S-6

and N-8B-2 (excluding ETFs)

Required to File Form N-PORT?

Yes

No

X

X

X

X

X

X

X

X

X

Please see the Division of Investment Management’s “Money Market Fund Statistics” report on

SEC.gov for information and statistics relating to money market funds reporting on Form N-MFP.

The Commission began receiving Form N-PORT filings from Large Entities — funds that

together with other investment companies in the same group of related investment companies have

net assets of $1 billion or more — for the March 2019 reporting period. A full data set, including

information from non-Large Entities, was not collected until the March 2020 reporting period.

Please see the Appendix to this report for definitions of capitalized terms and other technical

descriptions including explanation of consensus categories, prevalent asset classes, and techniques

used to minimize the effects of outliers.

Filers may file amendments to current or historical Form N-PORT filings at any time. This

report utilizes the most recently reported data for each fund for a given report period, based on

Form N-PORT filings received through August 06, 2024.

1

August 6, 2024

Analytics Office

Funds must file reports on Form N-PORT with the Commission for each month in the fiscal

quarter not later than 60 days after the end of that fiscal quarter. A complete picture of registered

fund exposures for a given calendar quarter is therefore not available to Commission Staff until

approximately four months following the end of that period. As noted on Form N-PORT, the

Commission does not intend to make public information reported on Form N-PORT for the first and

second month of each fund’s fiscal quarter and certain other information that is identifiable to any

particular fund or adviser. Accordingly, statistics involving non-public Form N-PORT data provided

in this report are anonymized, and are aggregated, rounded, and/or masked. Masked data in this

report is denoted by “***”.

Commission Staff works with the reported information and with filers to identify and

correct filing errors and employs certain methodologies and assumptions in aggregating

the data. Commission Staff updates reported statistics from time to time to reflect

corrected and amended filings and any adjustments to methodologies and assumptions,

which may result in changes to previously reported statistics. A downloadable Excel

file published alongside this report provides the most recently updated historical data

and includes methodological notes and assumptions, including a description of significant

changes.

If you have any questions or comments about Registered Fund Statistics (March

2024), please contact: Tim Dulaney, PhD, Juan Carlos Forero Penaranda, or Trevor Tatum with

subject line “Registered Fund Statistics (March 2024)”.

2

August 6, 2024

Analytics Office

Contents

1 Number of Funds

4

2 Total Fund Assets

5

3 Flows and Returns

9

4 Fund Portfolio Investments by Category

12

5 Fund Portfolio Investments by Currency

24

6 Fund Portfolio Investments by Country

25

7 Fund Derivative Investments

27

8 Liquidity Classifications

31

9 Fair Value Levels

35

10 Interest Rate Risk

41

11 Securities Lending

43

12 Borrowing

47

13 Appendices

48

3

August 6, 2024

1

Analytics Office

Number of Funds1

Table 1.1: Number of Funds, by Fund Type and Prevalent Asset Class

This table includes fund of funds. “Fund of fund” is defined in the appendix.

Fund Type

Mutual Fund

ETF

Closed-End Fund

Total

Prevalent Asset Class

US Equity

Multi-Asset

Taxable Bond

Global Equity

Municipal Bond

Subtotal

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

Taxable Bond

Multi-Asset

Municipal Bond

US Equity

Global Equity

Subtotal

Total

Apr

2023

3,003

2,198

1,827

1,402

555

8,985

1,266

582

683

353

72

2,956

202

187

117

89

52

647

12,588

May

2023

2,990

2,216

1,831

1,403

553

8,993

1,269

591

686

352

74

2,972

204

184

117

92

52

649

12,614

Jun

2023

2,989

2,180

1,827

1,405

552

8,953

1,278

602

688

346

74

2,988

209

184

117

93

51

654

12,595

Jul

2023

2,990

2,188

1,811

1,404

551

8,944

1,280

612

687

351

77

3,007

206

182

116

93

51

648

12,599

Aug

2023

2,986

2,170

1,807

1,404

548

8,915

1,303

618

689

347

78

3,035

202

183

118

92

51

646

12,596

Sep

2023

2,996

2,158

1,802

1,406

544

8,906

1,323

642

694

351

80

3,090

201

192

118

88

52

651

12,647

Oct

2023

2,960

2,137

1,790

1,402

543

8,832

1,330

660

686

366

81

3,123

201

189

115

89

52

646

12,601

Nov

2023

2,941

2,110

1,785

1,401

543

8,780

1,360

674

688

363

82

3,167

199

189

115

89

52

644

12,591

Dec

2023

2,937

2,100

1,774

1,397

542

8,750

1,380

682

698

359

84

3,203

197

192

115

89

52

645

12,598

Jan

2024

2,941

2,100

1,836

1,391

541

8,809

1,394

702

690

373

86

3,245

198

188

115

91

52

644

12,698

Feb

2024

2,932

2,061

1,824

1,384

542

8,743

1,399

712

678

360

86

3,235

200

188

115

90

54

647

12,625

Mar

2024

2,942

2,052

1,823

1,377

541

8,735

1,427

714

678

359

87

3,265

199

194

116

92

54

655

12,655

Table 1.2: Number of Index and Non-Index Funds, by Prevalent Asset

Class

This table includes fund of funds. “Fund of fund” is defined in the appendix. Index fund

indication drawn from Form N-CEN, Item C.3.

Fund Type

Non-Index

Index

Total

Prevalent Asset Class

US Equity

Multi-Asset

Taxable Bond

Global Equity

Municipal Bond

Subtotal

US Equity

Global Equity

Taxable Bond

Multi-Asset

Municipal Bond

Subtotal

Total

Apr

2023

3,248

2,489

2,127

1,489

702

10,055

1,110

648

484

249

42

2,533

12,588

May

2023

3,242

2,505

2,139

1,493

701

10,080

1,109

648

487

247

43

2,534

12,614

Jun

2023

3,248

2,466

2,149

1,496

700

10,059

1,112

648

489

244

43

2,536

12,595

Jul

2023

3,249

2,477

2,139

1,497

701

10,063

1,114

645

490

244

43

2,536

12,599

Aug

2023

3,261

2,461

2,137

1,497

701

10,057

1,120

647

490

239

43

2,539

12,596

Sep

2023

3,276

2,470

2,146

1,504

699

10,095

1,131

648

499

231

43

2,552

12,647

Oct

2023

3,253

2,456

2,152

1,501

696

10,058

1,126

639

499

236

43

2,543

12,601

Nov

2023

3,273

2,431

2,160

1,505

698

10,067

1,117

636

498

231

42

2,524

12,591

Dec

2023

3,298

2,424

2,161

1,513

700

10,096

1,108

634

492

227

41

2,502

12,598

Jan

2024

3,318

2,429

2,242

1,513

701

10,203

1,108

620

494

232

41

2,495

12,698

Feb

2024

3,315

2,391

2,241

1,506

702

10,155

1,106

610

495

218

41

2,470

12,625

Mar

2024

3,348

2,392

2,246

1,503

703

10,192

1,113

606

490

213

41

2,463

12,655

1

“Mutual Funds” exclude ETFs. “Closed-End Funds” include interval funds and non-traded funds registered on Form

N-2. Please see Appendix 13.5 for definitions of other capitalized terms used in this report.

4

August 6, 2024

2

Analytics Office

Total Fund Assets2

Table 2.1: Aggregate Total Assets ($Billions), by Fund Type and

Prevalent Asset Class

This table excludes fund of funds and removes any observations with non-positive total assets (Form

N-PORT, Item B.1.a). Because funds can invest a limited amount in other funds without being

considered a fund of fund, there is some limited amount of double-counting of assets.

Fund Type

Mutual Fund

ETF

Closed-End Fund

Total

Prevalent Asset Class

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

US Equity

Taxable Bond

Global Equity

Municipal Bond

Multi-Asset

Subtotal

Taxable Bond

Multi-Asset

US Equity

Municipal Bond

Global Equity

Subtotal

Total

Apr

2023

9,244

4,077

3,040

1,567

777

18,705

4,256

1,370

1,208

108

66

7,008

144

86

85

87

26

429

26,142

May

2023

9,210

4,055

2,943

1,535

768

18,511

4,257

1,368

1,173

108

70

6,976

143

86

85

86

26

426

25,913

Jun

2023

9,772

4,032

3,076

1,568

773

19,219

4,572

1,370

1,220

109

77

7,349

145

88

88

86

27

434

27,003

Jul

2023

10,069

4,047

3,168

1,602

776

19,662

4,776

1,380

1,278

111

83

7,627

146

89

91

86

27

439

27,728

Aug

2023

9,824

4,040

3,051

1,556

765

19,235

4,674

1,370

1,222

111

83

7,461

147

90

86

85

26

435

27,131

Sep

2023

9,334

3,986

2,932

1,497

740

18,489

4,475

1,356

1,182

109

71

7,193

149

91

82

82

25

429

26,111

Oct

2023

9,036

3,910

2,818

1,469

722

17,955

4,369

1,350

1,135

111

56

7,022

147

89

80

80

24

421

25,397

Nov

2023

9,817

4,052

3,049

1,542

753

19,212

4,846

1,414

1,235

121

63

7,679

151

93

86

85

26

441

27,332

Dec

2023

10,293

4,123

3,174

1,578

765

19,932

5,187

1,458

1,293

125

68

8,131

155

98

85

86

26

452

28,515

Jan

2024

10,364

4,175

3,134

1,600

775

20,047

5,227

1,493

1,273

124

66

8,184

158

96

86

86

26

453

28,684

Feb

2024

10,895

4,159

3,244

1,610

777

20,686

5,526

1,490

1,316

123

75

8,531

160

99

91

86

26

463

29,679

Mar

2024

11,221

4,238

3,341

1,642

784

21,226

5,767

1,509

1,367

125

76

8,844

164

102

94

86

27

473

30,543

Table 2.2: Aggregate Index Fund and Non-Index Fund Total Assets

($Billions), by Prevalent Asset Class

This table excludes fund of funds and removes any observations with non-positive total assets (Form

N-PORT, Item B.1.a). Index fund indication drawn from Form N-CEN, Item C.3. Because funds can invest

a limited amount in other funds without being considered a fund of fund, there is some limited

amount of double-counting of assets.

Fund Type

Non-Index

Index

Total

Prevalent Asset Class

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

Total

Apr

2023

5,806

3,432

2,416

1,606

872

14,132

7,779

2,158

1,860

114

99

12,009

26,142

May

2023

5,774

3,420

2,343

1,575

862

13,974

7,778

2,146

1,800

116

99

11,939

25,913

Jun

2023

6,114

3,395

2,449

1,607

868

14,433

8,319

2,152

1,873

126

100

12,570

27,003

Jul

2023

6,297

3,406

2,519

1,643

872

14,737

8,638

2,167

1,954

131

102

12,991

27,728

Aug

2023

6,135

3,400

2,429

1,598

861

14,422

8,449

2,157

1,870

131

101

12,709

27,131

Sep

2023

5,829

3,377

2,329

1,542

832

13,909

8,062

2,114

1,810

116

99

12,201

26,111

Oct

2023

5,633

3,319

2,239

1,514

812

13,518

7,851

2,088

1,739

101

101

11,879

25,397

Nov

2023

6,124

3,429

2,424

1,586

849

14,412

8,625

2,188

1,886

111

109

12,920

27,332

Dec

2023

6,404

3,476

2,519

1,625

864

14,888

9,161

2,260

1,974

119

112

13,627

28,515

Jan

2024

6,450

3,529

2,493

1,647

874

14,991

9,228

2,297

1,940

116

111

13,693

28,684

Feb

2024

6,781

3,525

2,576

1,658

877

15,416

9,731

2,285

2,010

127

110

14,263

29,679

Mar

2024

6,991

3,591

2,651

1,692

884

15,809

10,091

2,320

2,084

128

111

14,733

30,543

2

As of March 2024, there are 13 N-3 funds reporting an aggregate $257.51 billion in net assets (roughly 1.04% of

aggregate mutual fund net assets). Additionally, there are 92 Interval funds registered on Form N-2 reporting an

aggregate $79.64 billion in net assets (roughly 20.50% of aggregate closed-end fund net assets).

5

August 6, 2024

Analytics Office

Table 2.3: Aggregate Net Assets ($Billions), by Fund Type and

Prevalent Asset Class

This table excludes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c). Because funds can invest a limited amount in other funds without being

considered a fund of fund, there is some limited amount of double-counting of assets.

Fund Type

Mutual Fund

ETF

Closed-End Fund

Total

Prevalent Asset Class

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

US Equity

Taxable Bond

Global Equity

Municipal Bond

Multi-Asset

Subtotal

Taxable Bond

Multi-Asset

US Equity

Municipal Bond

Global Equity

Subtotal

Total

Apr

2023

9,141

3,743

2,989

1,474

755

18,102

4,189

1,282

1,180

107

62

6,819

99

76

73

56

23

327

25,248

May

2023

9,108

3,713

2,900

1,439

748

17,907

4,190

1,280

1,144

107

64

6,786

99

74

72

56

22

323

25,016

Jun

2023

9,664

3,721

3,034

1,480

753

18,653

4,500

1,290

1,192

109

72

7,162

101

76

75

56

23

331

26,146

Jul

2023

9,967

3,747

3,131

1,504

755

19,104

4,702

1,302

1,248

110

76

7,439

103

77

77

56

24

337

26,880

Aug

2023

9,732

3,735

3,012

1,463

745

18,687

4,606

1,297

1,193

110

77

7,282

103

78

73

55

23

332

26,301

Sep

2023

9,241

3,654

2,888

1,406

720

17,908

4,400

1,280

1,152

109

66

7,007

103

78

69

52

22

324

25,239

Oct

2023

8,946

3,588

2,781

1,372

700

17,387

4,302

1,277

1,108

110

52

6,848

102

78

67

50

21

318

24,553

Nov

2023

9,721

3,714

3,011

1,447

735

18,627

4,768

1,338

1,207

120

59

7,492

105

81

72

56

22

337

26,456

Dec

2023

10,199

3,819

3,138

1,498

749

19,404

5,110

1,385

1,266

124

64

7,949

108

85

72

58

23

346

27,699

Jan

2024

10,266

3,840

3,093

1,502

755

19,456

5,155

1,404

1,246

123

62

7,990

111

84

74

57

22

349

27,795

Feb

2024

10,796

3,844

3,201

1,522

759

20,122

5,447

1,400

1,287

123

69

8,326

113

85

77

57

23

355

28,804

Mar

2024

11,124

3,892

3,288

1,551

764

20,619

5,681

1,423

1,336

124

71

8,634

115

88

79

57

23

362

29,615

Table 2.4: Aggregate Index Fund and Non-Index Fund Net Assets

($Billions)

This table excludes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c). Index fund indication drawn from Form N-CEN, Item C.3. Because funds can invest

a limited amount in other funds without being considered a fund of fund, there is some limited

amount of double-counting of assets.

Fund Type

Non-Index

Index

Total

Prevalent Asset Class

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

US Equity

Taxable Bond

Global Equity

Multi-Asset

Municipal Bond

Subtotal

Total

Apr

2023

5,715

3,060

2,370

1,503

820

13,468

7,688

2,064

1,822

109

99

11,780

25,248

May

2023

5,685

3,033

2,304

1,467

812

13,301

7,685

2,059

1,763

111

98

11,715

25,016

Jun

2023

6,020

3,041

2,412

1,508

818

13,798

8,219

2,071

1,838

120

100

12,348

26,146

Jul

2023

6,204

3,063

2,486

1,533

821

14,107

8,541

2,089

1,917

125

101

12,773

26,880

6

Aug

2023

6,051

3,054

2,394

1,493

810

13,803

8,360

2,080

1,834

125

100

12,499

26,301

Sep

2023

5,745

2,996

2,291

1,439

782

13,252

7,965

2,041

1,771

111

98

11,987

25,239

Oct

2023

5,553

2,948

2,206

1,405

761

12,873

7,762

2,018

1,704

97

100

11,680

24,553

Nov

2023

6,033

3,046

2,389

1,480

802

13,749

8,529

2,111

1,851

107

109

12,707

26,456

Dec

2023

6,317

3,122

2,488

1,533

819

14,280

9,064

2,191

1,939

114

111

13,419

27,699

Jan

2024

6,357

3,144

2,454

1,536

825

14,317

9,138

2,210

1,908

112

110

13,478

27,795

Feb

2024

6,684

3,156

2,538

1,556

829

14,762

9,636

2,201

1,973

121

110

14,041

28,804

Mar

2024

6,893

3,191

2,607

1,587

834

15,112

9,992

2,238

2,040

123

110

14,503

29,615

August 6, 2024

Analytics Office

Table 2.5: Aggregate Net Assets ($Billions), by Fund Type and Bucketed

by Net Assets

This table excludes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c). See the appendix for a review of interval notation used here.

Fund Size

$10 billion or more

[$500 million,$10 billion)

[$50 million,$500 million)

($0,$50 million)

Total

Fund Type

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Total

Apr

2023

11,364

***

***

16,423

6,109

1,584

222

7,915

603

183

79

864

27

18

1

46

25,248

May

2023

11,248

***

***

16,286

6,023

1,570

217

7,811

607

185

80

872

28

18

1

48

25,016

Jun

2023

11,876

5,329

26

17,231

6,150

1,625

225

8,001

599

189

79

866

27

19

1

47

26,146

Jul

2023

12,249

***

***

17,837

6,235

1,669

232

8,136

595

191

77

862

26

18

1

45

26,880

Aug

2023

11,969

***

***

17,410

6,088

1,658

225

7,971

603

193

79

875

26

19

1

46

26,301

Sep

2023

11,370

5,188

28

16,586

5,905

1,609

215

7,728

607

190

80

877

27

19

1

47

25,239

Oct

2023

10,975

***

***

16,053

5,776

1,584

210

7,570

610

195

78

882

27

20

1

48

24,553

Nov

2023

12,023

***

***

17,647

5,978

1,685

228

7,890

601

192

79

872

26

20

1

47

26,456

Dec

2023

12,678

5,998

30

18,706

6,104

1,729

239

8,072

597

201

77

875

25

20

1

46

27,699

Jan

2024

12,769

***

***

18,817

6,067

1,747

241

8,055

595

206

77

877

25

20

1

46

27,795

Feb

2024

13,331

***

***

19,701

6,174

1,759

244

8,177

593

210

78

880

25

19

1

45

28,804

Mar

2024

13,777

6,625

33

20,434

6,228

1,776

251

8,255

589

215

78

881

24

19

1

45

29,615

Table 2.6: Number of Funds, by Fund Type and Bucketed by Net Assets

This table excludes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c). See the appendix for a review of interval notation used here.

Fund Size

$10 billion or more

[$500 million,$10 billion)

[$50 million,$500 million)

($0,$50 million)

Total

Fund Type

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Mutual Fund

ETF

Closed-End Fund

Subtotal

Total

Apr

2023

292

***

***

424

2,792

659

178

3,629

2,806

959

350

4,115

1,393

1,069

44

2,506

10,674

May

2023

289

***

***

420

2,755

653

173

3,581

2,808

974

356

4,138

1,428

1,075

45

2,548

10,687

Jun

2023

301

132

2

435

2,803

667

180

3,650

2,777

989

352

4,118

1,362

1,059

47

2,468

10,671

Jul

2023

307

***

***

445

2,832

684

183

3,699

2,763

1,009

344

4,116

1,329

1,037

45

2,411

10,671

7

Aug

2023

304

***

***

439

2,781

680

177

3,638

2,793

1,022

350

4,165

1,333

1,059

43

2,435

10,677

Sep

2023

294

132

2

428

2,725

676

170

3,571

2,811

1,014

356

4,181

1,369

1,122

49

2,540

10,720

Oct

2023

284

***

***

415

2,681

664

169

3,514

2,837

1,033

354

4,224

1,332

1,136

46

2,514

10,667

Nov

2023

304

***

***

442

2,743

701

176

3,620

2,791

1,047

348

4,186

1,258

1,116

43

2,417

10,665

Dec

2023

317

143

2

462

2,773

708

185

3,666

2,768

1,070

343

4,181

1,213

1,114

42

2,369

10,678

Jan

2024

319

***

***

462

2,767

707

186

3,660

2,759

1,097

343

4,199

1,289

1,126

40

2,455

10,776

Feb

2024

326

***

***

476

2,785

720

185

3,690

2,741

1,111

346

4,198

1,246

1,080

41

2,367

10,731

Mar

2024

336

154

2

492

2,812

731

189

3,732

2,717

1,134

346

4,197

1,228

1,063

45

2,336

10,757

August 6, 2024

Analytics Office

Table 2.7: Distribution of Net Assets, by Fund Type ($Billions)

This exhibit includes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c).

Fund Type

Mutual Fund

ETF

Closed-End Fund

Percentile

10th

25th

50th

75th

90th

10th

25th

50th

75th

90th

10th

25th

50th

75th

90th

Apr

2023

0.018

0.078

0.341

1.222

4.064

0.005

0.022

0.113

0.593

3.305

0.051

0.119

0.256

0.575

1.301

May

2023

0.016

0.076

0.331

1.192

4.047

0.005

0.022

0.111

0.575

3.229

0.050

0.114

0.254

0.566

1.290

Jun

2023

0.017

0.080

0.344

1.242

4.205

0.006

0.024

0.114

0.596

3.361

0.043

0.113

0.256

0.575

1.330

Jul

2023

0.018

0.082

0.349

1.274

4.308

0.006

0.025

0.119

0.618

3.502

0.044

0.114

0.263

0.586

1.363

Aug

2023

0.018

0.081

0.342

1.244

4.189

0.006

0.024

0.112

0.601

3.343

0.050

0.117

0.259

0.577

1.366

Sep

2023

0.017

0.077

0.330

1.195

4.047

0.005

0.022

0.107

0.565

3.145

0.047

0.108

0.246

0.565

1.310

Oct

2023

0.018

0.078

0.326

1.168

3.935

0.005

0.021

0.104

0.530

2.981

0.046

0.110

0.243

0.551

1.286

Nov

2023

0.020

0.085

0.348

1.246

4.168

0.005

0.023

0.107

0.579

3.268

0.048

0.117

0.259

0.596

1.357

Dec

2023

0.021

0.089

0.363

1.308

4.357

0.006

0.024

0.110

0.605

3.472

0.050

0.118

0.267

0.613

1.389

Jan

2024

0.019

0.083

0.356

1.287

4.332

0.005

0.023

0.109

0.599

3.375

0.052

0.116

0.268

0.611

1.433

Feb

2024

0.020

0.087

0.365

1.319

4.429

0.006

0.025

0.117

0.610

3.472

0.051

0.116

0.265

0.612

1.485

Mar

2024

0.021

0.090

0.375

1.354

4.544

0.006

0.026

0.119

0.624

3.554

0.049

0.115

0.268

0.616

1.493

Table 2.8: Percent of Aggregate Net Assets Reported, by Fund Type and

Cumulative Percentile

This exhibit includes fund of funds and removes any observations with non-positive net assets (Form

N-PORT, Item B.1.c).

Fund Type

All Funds

Mutual Fund

ETF

Closed-End Fund

Percentile

Top 2%

Top 5%

Top 10%

Top 25%

Top 2%

Top 5%

Top 10%

Top 25%

Top 2%

Top 5%

Top 10%

Top 25%

Top 2%

Top 5%

Top 10%

Top 25%

Apr

2023

53.56

68.68

80.07

92.31

50.05

65.31

77.25

90.80

57.86

75.85

87.30

96.38

20.67

33.40

47.57

70.70

May

2023

53.84

68.92

80.27

92.41

50.26

65.55

77.45

90.90

58.21

76.12

87.46

96.43

20.67

33.43

47.66

70.91

Jun

2023

53.97

69.07

80.38

92.44

50.34

65.65

77.50

90.89

***

76.33

87.56

96.43

***

33.35

48.09

71.15

Jul

2023

54.09

69.18

80.46

92.48

50.48

65.75

77.60

90.94

58.72

76.26

87.52

96.41

20.63

33.43

47.80

71.33

Aug

2023

54.13

69.25

80.50

92.50

50.46

65.83

77.64

90.95

58.68

76.34

87.59

96.42

20.65

33.47

47.87

71.25

8

Sep

2023

54.15

69.30

80.53

92.52

50.44

65.79

77.62

90.94

***

76.55

87.76

96.46

***

33.81

48.42

71.60

Oct

2023

54.30

69.40

80.59

92.51

50.51

65.86

77.63

90.89

59.34

76.85

87.91

96.49

21.38

34.22

48.32

71.67

Nov

2023

54.49

69.61

80.74

92.60

50.57

66.02

77.75

90.95

59.79

76.99

88.01

96.56

20.85

33.90

48.34

71.58

Dec

2023

54.64

69.72

80.85

92.65

50.71

66.05

77.80

90.97

60.13

77.10

88.13

96.59

***

33.58

48.07

71.57

Jan

2024

54.92

70.01

81.08

92.77

50.94

66.35

78.06

91.11

60.32

77.39

88.29

96.64

20.79

33.94

48.43

71.82

Feb

2024

55.09

70.30

81.26

92.81

51.09

66.70

78.32

91.18

60.38

77.28

88.21

96.57

20.80

34.06

48.75

72.03

Mar

2024

55.25

70.38

81.31

92.83

51.22

66.78

78.33

91.19

60.60

77.36

88.21

96.56

***

34.02

49.15

72.28

August 6, 2024

Analytics Office

3

Flows and Returns

3.1

Fund Flows

Table 3.1: Aggregate Inflows, Outflows, and Net Flows of Index and NonIndex Funds ($Billions)

This table excludes flows from fund of funds (Form N-PORT, Item B.6), index fund indication drawn

from Form N-CEN, Item C.3. Since both ETFs and Mutual Funds can be index funds, both contribute to

the rows in this table.

Fund Type

All

Index

Non-Index

Flow Type

Inflow

Net

Outflow

Inflow

Net

Outflow

Inflow

Net

Outflow

Apr

2023

501

-8

-509

268

32

-236

233

-40

-273

May

2023

565

-24

-589

306

26

-280

258

-50

-308

Jun

2023

698

25

-673

426

61

-366

272

-35

-307

Jul

2023

618

26

-593

374

55

-319

245

-29

-274

Aug

2023

570

-34

-604

307

9

-299

263

-42

-305

Sep

2023

580

-19

-599

346

31

-315

234

-51

-284

Oct

2023

620

-47

-667

346

18

-328

274

-65

-339

Nov

2023

700

44

-655

401

90

-310

299

-46

-345

Dec

2023

860

33

-827

544

115

-429

316

-81

-398

Jan

2024

770

14

-756

438

33

-405

332

-19

-351

Feb

2024

727

54

-673

412

55

-357

315

-1

-316

Mar

2024

829

53

-777

526

84

-442

303

-31

-335

Table 3.2: Aggregate Inflows, Outflows, and Net Flows of Index and NonIndex Funds (Percent of Net Assets)

This table excludes flows from fund of funds (Form N-PORT, Item B.6), index fund indication drawn

from Form N-CEN, Item C.3. Since both ETFs and Mutual Funds can be index funds, both contribute to

the rows in this table. Percentages are calculated using lagged net assets (Form N-PORT, Item

B.1.c.).

Fund Type

All

Index

Non-Index

Flow Type

Inflow

Net

Outflow

Inflow

Net

Outflow

Inflow

Net

Outflow

Apr

2023

2.03

-0.03

-2.06

2.30

0.28

-2.02

1.78

-0.31

-2.09

May

2023

2.27

-0.10

-2.36

2.60

0.22

-2.38

1.97

-0.38

-2.35

Jun

2023

2.83

0.10

-2.73

3.64

0.52

-3.12

2.09

-0.27

-2.37

Jul

2023

2.40

0.10

-2.30

3.02

0.44

-2.58

1.82

-0.22

-2.03

Aug

2023

2.15

-0.13

-2.28

2.41

0.07

-2.34

1.91

-0.31

-2.21

9

Sep

2023

2.23

-0.07

-2.31

2.77

0.25

-2.52

1.73

-0.38

-2.11

Oct

2023

2.49

-0.19

-2.68

2.88

0.15

-2.73

2.12

-0.50

-2.62

Nov

2023

2.89

0.18

-2.71

3.43

0.77

-2.66

2.38

-0.37

-2.75

Dec

2023

3.29

0.13

-3.17

4.28

0.90

-3.38

2.36

-0.61

-2.97

Jan

2024

2.82

0.05

-2.77

3.27

0.25

-3.02

2.38

-0.14

-2.52

Feb

2024

2.65

0.20

-2.45

3.06

0.41

-2.65

2.26

-0.01

-2.26

Mar

2024

2.92

0.19

-2.73

3.75

0.60

-3.15

2.11

-0.22

-2.32

August 6, 2024

Analytics Office

Table 3.3: Aggregate Net Flows, by Prevalent Asset Class and Fund Type

($Billions)

This table excludes flows from fund of funds (Form N-PORT, Item B.6). Closed-End Funds generally do

not report flows and are therefore excluded.

Fund Type

ETF

Mutual Fund

Total

Prevalent Asset Class

US Equity

Taxable Bond

Global Equity

Municipal Bond

Multi-Asset

Subtotal

Taxable Bond

Municipal Bond

Multi-Asset

Global Equity

US Equity

Subtotal

Total

Apr

2023

11

16

3

1

0

31

-2

-1

-7

-11

-17

-39

-8

May

2023

16

14

5

1

-1

34

0

-2

-9

-6

-41

-58

-24

Jun

2023

43

16

11

1

1

72

8

0

-6

-6

-44

-47

25

Jul

2023

38

14

7

1

-1

59

16

1

-7

-7

-36

-33

26

Aug

2023

3

7

1

1

2

15

4

-2

-10

-4

-37

-49

-34

Sep

2023

27

10

1

1

1

39

-7

-6

-9

-6

-31

-58

-19

Oct

2023

22

13

-3

3

1

36

-16

-11

-12

-11

-33

-83

-47

Nov

2023

73

26

6

5

0

110

-7

-4

-7

-11

-37

-65

44

Dec

2023

88

21

19

2

-1

129

-12

-2

-10

-20

-52

-96

33

Jan

2024

12

20

4

0

-1

35

30

6

-9

-7

-41

-21

14

Feb

2024

35

11

8

0

0

54

37

3

-8

-3

-28

1

54

Mar

2024

67

16

9

1

0

93

14

3

-11

-14

-33

-40

53

Table 3.4: Aggregate Net Flows, by Prevalent Asset Class and Fund Type

(Percent)

This table excludes flows from fund of funds (Form N-PORT, Item B.6). Closed-End Funds generally do

not report flows and are therefore excluded. Percentages are calculated using lagged net assets

(Form N-PORT, Item B.1.c.).

Fund Type

ETF

Mutual Fund

Total

Prevalent Asset Class

US Equity

Taxable Bond

Municipal Bond

Global Equity

Multi-Asset

Subtotal

Municipal Bond

Taxable Bond

US Equity

Global Equity

Multi-Asset

Subtotal

Total

Apr

2023

0.26

1.29

0.62

0.30

-0.44

0.46

-0.12

-0.06

-0.19

-0.37

-0.49

-0.22

-0.03

May

2023

0.38

1.07

0.50

0.46

-2.04

0.50

-0.20

0.01

-0.45

-0.22

-0.64

-0.32

-0.10

Jun

2023

1.02

1.23

1.11

1.00

1.73

1.06

0.01

0.23

-0.48

-0.20

-0.41

-0.26

0.10

Jul

2023

0.84

1.06

1.16

0.57

-1.10

0.82

0.11

0.43

-0.37

-0.23

-0.48

-0.18

0.10

10

Aug

2023

0.07

0.52

0.93

0.11

3.16

0.20

-0.24

0.11

-0.37

-0.14

-0.64

-0.25

-0.13

Sep

2023

0.58

0.76

1.04

0.05

0.86

0.53

-0.75

-0.20

-0.31

-0.20

-0.61

-0.31

-0.07

Oct

2023

0.50

0.99

2.70

-0.24

1.11

0.51

-1.47

-0.45

-0.36

-0.38

-0.82

-0.46

-0.19

Nov

2023

1.69

2.06

4.35

0.56

-0.38

1.60

-0.60

-0.19

-0.41

-0.38

-0.49

-0.38

0.18

Dec

2023

1.84

1.59

1.45

1.58

-1.06

1.72

-0.27

-0.32

-0.54

-0.66

-0.67

-0.51

0.13

Jan

2024

0.23

1.42

-0.32

0.36

-0.84

0.44

0.79

0.78

-0.41

-0.22

-0.58

-0.11

0.05

Feb

2024

0.67

0.81

-0.13

0.61

0.61

0.67

0.36

0.96

-0.27

-0.11

-0.54

0.00

0.20

Mar

2024

1.22

1.16

0.92

0.69

-0.47

1.11

0.44

0.36

-0.30

-0.43

-0.71

-0.20

0.19

August 6, 2024

3.2

Analytics Office

Total Returns

Table 3.5: Median Total Return of Index and Non-Index Funds, by

Prevalent Asset Class (Percent)

This table relies on Form N-PORT Item B.5 and excludes fund of funds. Index fund indication is drawn

from Form N-CEN, Item C.3.

Fund Type

All

Index

Non-Index

Prevalent Asset Class

US Equity

Global Equity

Multi-Asset

Taxable Bond

Municipal Bond

US Equity

Multi-Asset

Global Equity

Taxable Bond

Municipal Bond

US Equity

Global Equity

Multi-Asset

Taxable Bond

Municipal Bond

Apr

2023

0.52

1.26

0.79

0.58

-0.07

0.45

0.30

1.57

0.57

***

0.55

1.17

0.83

0.58

-0.06

May

2023

-1.47

-3.32

-1.00

-0.85

-0.76

-1.76

-1.61

-3.83

-0.95

***

-1.40

-3.15

-0.95

-0.84

-0.76

Jun

2023

6.68

4.45

3.42

0.31

0.79

6.80

6.40

4.47

-0.19

***

6.61

4.44

3.24

0.39

0.79

Jul

2023

3.36

3.43

2.05

0.56

0.23

3.58

4.22

4.07

0.31

***

3.23

3.19

1.94

0.62

0.23

Aug

2023

-2.27

-3.92

-1.61

-0.23

-1.16

-2.54

-3.33

-4.06

-0.03

***

-2.20

-3.79

-1.51

-0.29

-1.17

Sep

2023

-4.80

-3.84

-3.34

-1.40

-2.77

-4.97

-5.13

-3.44

-1.30

***

-4.72

-4.01

-3.20

-1.42

-2.78

Oct

2023

-3.24

-3.68

-2.08

-1.08

-1.45

-3.60

-3.97

-3.75

-0.85

***

-3.10

-3.64

-1.98

-1.14

-1.49

Nov

2023

8.67

8.42

6.00

3.94

6.14

9.11

8.90

8.42

3.41

***

8.45

8.42

5.84

4.02

6.19

Dec

2023

5.58

4.95

3.88

3.22

2.41

6.16

5.72

5.26

2.81

***

5.49

4.86

3.76

3.26

2.42

Jan

2024

0.34

-1.63

0.30

0.24

-0.09

0.00

-0.82

-1.77

0.06

***

0.45

-1.59

0.36

0.27

-0.07

Feb

2024

4.66

3.04

2.02

-0.35

0.12

5.17

4.35

2.77

-1.08

***

4.52

3.16

1.77

-0.23

0.12

Mar

2024

3.22

2.96

2.38

0.90

0.06

3.33

3.02

2.90

0.77

***

3.16

2.98

2.37

0.94

0.07

Table 3.6: Weighted-Average Total Return of Index and Non-Index Funds,

by Prevalent Asset Class (Percent)

This table relies on Form N-PORT Item B.5 and excludes fund of funds, index fund indication drawn

from Form N-CEN, Item C.3. Total returns are weighted by lagged fund net assets from Form N-PORT,

Item B.1.c.

Fund Type

All

Index

Non-Index

Prevalent Asset Class

US Equity

Global Equity

Multi-Asset

Taxable Bond

Municipal Bond

US Equity

Global Equity

Multi-Asset

Taxable Bond

Municipal Bond

US Equity

Global Equity

Multi-Asset

Taxable Bond

Municipal Bond

Apr

2023

0.83

1.36

1.11

0.52

-0.04

0.87

1.55

-0.64

0.50

***

0.78

1.22

1.24

0.53

-0.02

May

2023

-0.07

-3.00

-1.11

-0.91

-0.72

-0.10

-3.44

4.53

-0.98

***

-0.04

-2.66

-1.52

-0.86

-0.73

Jun

2023

6.62

4.61

3.56

0.06

0.77

6.81

4.43

8.85

-0.26

***

6.36

4.75

3.17

0.28

0.77

Jul

2023

3.51

3.59

2.29

0.32

0.21

3.58

3.98

5.62

-0.01

***

3.41

3.29

2.02

0.55

0.22

11

Aug

2023

-2.05

-4.09

-1.80

-0.40

-1.15

-2.07

-4.45

-4.70

-0.46

***

-2.03

-3.81

-1.56

-0.36

-1.18

Sep

2023

-4.72

-3.78

-3.48

-1.79

-2.70

-4.81

-3.32

-7.75

-2.05

***

-4.60

-4.14

-3.12

-1.62

-2.74

Oct

2023

-2.88

-3.44

-2.16

-1.14

-1.35

-2.83

-3.58

-5.16

-1.13

***

-2.94

-3.34

-1.92

-1.15

-1.40

Nov

2023

9.11

8.37

6.54

3.66

5.90

9.26

8.36

12.19

3.82

***

8.91

8.37

6.15

3.56

5.95

Dec

2023

5.61

5.01

4.43

3.12

2.38

5.62

4.98

8.37

3.33

***

5.58

5.04

4.15

2.97

2.42

Jan

2024

0.89

-1.44

0.21

0.03

-0.05

0.80

-1.84

-0.69

-0.19

***

1.02

-1.12

0.28

0.18

-0.04

Feb

2024

5.30

3.29

2.12

-0.78

0.16

5.18

2.95

4.95

-1.05

***

5.47

3.56

1.91

-0.60

0.17

Mar

2024

3.27

3.18

2.59

0.91

0.09

3.31

3.17

2.97

0.83

***

3.21

3.19

2.56

0.96

0.12

August 6, 2024

Analytics Office

4

Fund Portfolio Investments by Category

4.1

All Funds

Table 4.1: Aggregate Gross Value of Fund Investments by Investment

Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Common Equity

Registered Fund

Corporate Debt

US Treasury Debt

Mortgage-Backed Security

Municipal Debt

STIV

Non US Sovereign Debt

Loan

Collateralized Obligation

Other Asset-Backed Security

Repurchase Agreement

Preferred Equity

Equity Derivative

Cash

Private Fund

Rate Derivative

Other Debt

Structured Note

FX Derivative

Other Types

Commodity

Commodity Derivative

Credit Derivative

Asset-Backed CP

Other Derivative

Total

Apr

2023

18,911

2,386

2,198

1,797

1,272

995

834

367

186

156

155

122

103

68

88

78

87

65

20

24

16

***

7

4

***

2

29,951

May

2023

18,729

2,353

2,182

1,770

1,303

986

799

358

179

157

156

109

101

70

87

76

84

62

20

36

16

***

8

4

***

1

29,656

Jun

2023

19,862

2,441

2,195

1,777

1,300

994

775

368

182

160

158

120

103

77

84

78

90

57

21

25

16

***

6

5

***

1

30,904

Jul

2023

20,567

2,490

2,209

1,788

1,309

999

786

372

185

161

159

114

104

86

79

79

92

57

21

21

17

***

7

5

***

1

31,721

Aug

2023

20,002

2,440

2,192

1,791

1,316

986

770

365

185

162

162

106

100

74

74

79

85

56

21

25

17

***

6

4

***

1

31,031

12

Sep

2023

19,063

2,341

2,141

1,765

1,302

952

777

353

190

166

165

103

96

68

86

79

97

56

22

25

17

***

10

3

***

1

29,886

Oct

2023

18,475

2,268

2,096

1,742

1,307

931

747

348

186

165

170

97

91

70

84

79

105

50

21

19

16

***

5

3

***

1

29,090

Nov

2023

20,137

2,436

2,208

1,783

1,395

981

752

368

188

169

172

104

98

76

82

81

81

49

22

27

18

***

9

4

***

1

31,254

Dec

2023

21,241

2,543

2,263

1,840

1,425

1,002

735

379

191

172

173

104

102

82

81

82

97

50

22

25

17

***

6

5

***

1

32,651

Jan

2024

21,282

2,542

2,295

1,843

1,441

1,006

760

378

193

173

177

114

102

80

72

84

84

49

22

22

17

***

5

5

***

1

32,758

Feb

2024

22,303

2,614

2,298

1,843

1,431

1,008

767

381

200

177

178

118

103

101

75

86

74

47

23

23

17

***

9

5

***

1

33,892

Mar

2024

23,048

2,677

2,322

1,872

1,476

1,015

775

384

209

184

182

112

104

98

89

87

71

46

25

19

18

***

5

5

***

1

34,836

August 6, 2024

Analytics Office

Table 4.2: Number of Funds Reporting Gross Value of Each Investment

Category, With an Aggregate Gross Value Exceeding Five

Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

Registered Fund

Corporate Debt

US Treasury Debt

Mortgage-Backed Security

Municipal Debt

STIV

Non US Sovereign Debt

Loan

Collateralized Obligation

Other Asset-Backed Security

Repurchase Agreement

Preferred Equity

Equity Derivative

Cash

Private Fund

Rate Derivative

Other Debt

Structured Note

FX Derivative

Other Types

Commodity

Commodity Derivative

Credit Derivative

Asset-Backed CP

Other Derivative

Total

Apr

2023

7,096

2,344

2,232

1,780

1,194

806

2,137

457

373

468

487

508

231

576

617

445

211

200

23

80

17

***

47

***

***

12

12,588

May

2023

7,094

2,320

2,243

1,762

1,212

807

2,068

451

373

479

490

490

230

570

644

415

192

174

23

88

19

***

62

***

***

13

12,614

Jun

2023

7,100

2,314

2,246

1,761

1,210

801

2,020

450

378

479

489

491

225

558

591

416

192

172

24

72

***

10

47

***

***

***

12,595

Jul

2023

7,102

2,310

2,241

1,775

1,214

801

1,955

454

376

485

497

462

219

619

589

422

190

169

25

76

27

***

55

***

***

15

12,599

Aug

2023

7,107

2,294

2,242

1,801

1,220

799

1,892

449

382

493

502

473

232

580

557

423

177

160

25

79

22

***

39

10

***

13

12,596

13

Sep

2023

7,119

2,317

2,236

1,839

1,221

797

2,036

439

379

503

514

479

213

594

596

426

218

169

***

62

***

10

48

***

***

***

12,647

Oct

2023

7,084

2,272

2,237

1,810

1,230

793

2,045

429

379

505

524

482

211

587

565

434

228

147

23

74

23

***

34

***

***

14

12,601

Nov

2023

7,108

2,271

2,223

1,769

1,231

792

1,965

424

367

493

522

484

206

565

535

431

172

148

23

74

21

***

41

***

***

12

12,591

Dec

2023

7,120

2,243

2,223

1,788

1,230

792

1,808

420

364

492

504

471

204

535

539

392

203

165

***

77

***

11

47

***

***

***

12,598

Jan

2024

7,106

2,251

2,233

1,858

1,232

793

1,910

428

360

483

524

480

207

549

585

389

186

143

24

64

25

***

42

12

***

14

12,698

Feb

2024

7,086

2,237

2,223

1,847

1,222

790

1,933

433

380

489

527

479

202

595

514

391

156

124

26

77

24

***

45

13

***

16

12,625

Mar

2024

7,097

2,243

2,222

1,844

1,231

790

1,926

427

393

504

545

496

204

584

530

388

152

148

***

61

***

10

45

***

***

16

12,655

August 6, 2024

4.2

Analytics Office

Mutual Funds3

Table 4.3: Aggregate Gross Value of Mutual Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Common Equity

Registered Fund

Corporate Debt

Mortgage-Backed Security

US Treasury Debt

Municipal Debt

STIV

Non US Sovereign Debt

Other Types

Other Asset-Backed Security

Collateralized Obligation

Loan

Repurchase Agreement

Cash

Preferred Equity

Private Fund

Total

Apr

2023

13,476

2,339

1,691

1,126

1,224

801

658

284

225

147

140

130

99

67

56

23

22,487

May

2023

13,331

2,306

1,679

1,155

1,197

793

626

277

230

148

140

126

88

66

55

23

22,240

Jun

2023

14,100

2,391

1,686

1,149

1,194

798

613

284

222

149

142

126

99

65

55

24

23,098

Jul

2023

14,545

2,439

1,693

1,157

1,206

801

619

286

226

149

143

128

93

62

56

24

23,625

Aug

2023

14,138

2,388

1,683

1,164

1,206

791

603

281

212

152

143

128

84

57

54

23

23,107

Sep

2023

13,454

2,292

1,646

1,151

1,174

762

611

272

222

154

146

130

81

66

51

23

22,235

Oct

2023

13,023

2,219

1,616

1,155

1,145

743

587

268

220

159

145

126

75

67

49

23

21,619

Nov

2023

14,124

2,382

1,690

1,233

1,171

777

591

281

205

160

147

126

85

63

51

23

23,108

Dec

2023

14,823

2,484

1,718

1,253

1,214

793

579

290

221

161

150

126

87

62

54

23

24,037

Jan

2024

14,838

2,482

1,734

1,267

1,216

797

596

290

200

164

149

127

93

57

53

24

24,087

Feb

2024

15,527

2,552

1,739

1,258

1,217

800

598

294

197

163

151

132

99

58

53

25

24,862

Mar

2024

15,988

2,611

1,754

1,299

1,236

805

607

297

185

167

157

136

93

68

55

23

25,481

Table 4.4: Number of Mutual Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of Mutual Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

Registered Fund

Corporate Debt

Mortgage-Backed Security

US Treasury Debt

Municipal Debt

STIV

Non US Sovereign Debt

Other Types

Other Asset-Backed Security

Collateralized Obligation

Loan

Repurchase Agreement

Cash

Preferred Equity

Private Fund

Total

Apr

2023

5,053

2,024

1,701

1,021

1,439

607

1,578

367

614

406

356

224

351

382

112

141

8,985

May

2023

5,048

2,001

1,706

1,036

1,411

606

1,499

362

576

408

365

224

339

388

109

130

8,993

Jun

2023

5,043

1,997

1,701

1,035

1,411

602

1,461

360

558

410

366

226

336

353

105

124

8,953

Jul

2023

5,041

1,991

1,697

1,034

1,414

598

1,413

360

595

413

366

223

316

338

102

137

8,944

Aug

2023

5,028

1,976

1,697

1,036

1,429

597

1,381

360

529

414

368

230

327

324

111

140

8,915

Sep

2023

5,019

1,992

1,685

1,034

1,441

593

1,464

353

582

426

376

226

334

342

102

135

8,906

Oct

2023

5,003

1,931

1,684

1,040

1,386

591

1,458

344

522

430

381

225

329

306

97

135

8,832

Nov

2023

4,991

1,915

1,671

1,036

1,346

589

1,392

337

471

427

365

216

331

286

98

139

8,780

Dec

2023

4,979

1,888

1,664

1,030

1,364

588

1,267

335

519

410

363

212

332

276

95

112

8,750

Jan

2024

4,977

1,888

1,663

1,031

1,413

587

1,355

345

466

429

358

211

326

290

93

115

8,809

Feb

2024

4,959

1,875

1,654

1,018

1,398

585

1,369

344

453

427

361

225

326

280

92

117

8,743

Mar

2024

4,953

1,875

1,646

1,025

1,388

582

1,335

341

458

438

372

231

334

294

93

117

8,735

3

“Mutual Funds” exclude ETFs. Please see Appendix 13.5 for a more detailed definition and definitions of other

capitalized terms used in this report.

14

August 6, 2024

4.3

Analytics Office

ETFs

Table 4.5: Aggregate Gross Value of ETF Investments by Investment

Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Common Equity

US Treasury Debt

Corporate Debt

Mortgage-Backed Security

STIV

Municipal Debt

Other Types

Non US Sovereign Debt

Registered Fund

Preferred Equity

Collateralized Obligation

Cash

Loan

Other Asset-Backed Security

Repurchase Agreement

Total

Apr

2023

5,306

569

449

127

167

107

67

79

39

36

8

17

11

5

9

6,995

May

2023

5,272

569

445

129

164

107

68

77

39

36

8

17

10

6

7

6,953

Jun

2023

5,631

578

451

132

152

109

75

80

41

37

9

15

11

6

7

7,333

Jul

2023

5,887

577

457

133

158

111

82

82

43

38

9

13

11

7

7

7,616

Aug

2023

5,733

581

451

133

157

110

76

80

43

36

10

12

11

7

7

7,448

Sep

2023

5,483

585

437

131

156

108

77

77

41

35

11

16

12

8

6

7,182

Oct

2023

5,331

592

423

132

149

110

72

76

41

34

11

14

12

8

8

7,011

Nov

2023

5,883

607

459

142

150

120

84

83

46

37

12

15

12

9

6

7,665

Dec

2023

6,284

621

484

151

145

123

84

86

50

38

13

14

14

9

4

8,121

Jan

2024

6,310

623

499

153

152

123

85

84

51

39

13

12

14

10

8

8,176

Feb

2024

6,639

621

496

152

156

122

103

83

53

39

15

12

15

11

6

8,526

Mar

2024

6,918

631

504

156

155

123

103

84

57

40

16

16

16

11

7

8,837

Table 4.6: Number of ETFs Reporting Gross Value of Each Investment

Category, With an Aggregate Gross Value Exceeding Five

Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of ETFs, and not the sum of the preceding rows.

Investment Type

Common Equity

US Treasury Debt

Corporate Debt

Mortgage-Backed Security

STIV

Municipal Debt

Other Types

Non US Sovereign Debt

Registered Fund

Preferred Equity

Collateralized Obligation

Cash

Loan

Other Asset-Backed Security

Repurchase Agreement

Total

Apr

2023

1,872

305

322

103

436

76

581

58

275

52

41

185

24

46

102

2,956

May

2023

1,873

312

325

105

445

78

586

56

273

52

43

200

24

46

***

2,972

Jun

2023

1,886

317

330

105

437

77

579

56

273

56

41

194

24

44

***

2,988

Jul

2023

1,887

332

332

109

415

81

610

60

272

54

48

185

23

48

***

3,007

Aug

2023

1,899

338

335

113

404

80

607

57

273

55

52

179

22

53

***

3,035

15

Sep

2023

1,918

360

342

115

444

82

619

54

280

51

53

201

22

54

***

3,090

Oct

2023

1,903

385

346

119

441

83

663

55

296

53

51

211

21

59

***

3,123

Nov

2023

1,934

385

348

124

439

84

642

57

310

54

54

195

20

60

***

3,167

Dec

2023

1,956

390

352

128

422

85

609

57

307

54

53

210

20

59

***

3,203

Jan

2024

1,947

409

361

128

436

87

634

54

310

55

51

245

20

60

104

3,245

Feb

2024

1,940

414

359

130

436

86

658

59

310

53

55

186

23

65

***

3,235

Mar

2024

1,956

418

365

132

457

88

649

55

314

54

55

186

22

67

109

3,265

August 6, 2024

4.4

Analytics Office

Closed-End Funds4

Table 4.7: Aggregate Gross Value of Closed-End Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Common Equity

Municipal Debt

Other Types

Corporate Debt

Loan

Mortgage-Backed Security

STIV

Repurchase Agreement

Collateralized Obligation

Preferred Equity

Registered Fund

US Treasury Debt

Cash

Other Asset-Backed Security

Non US Sovereign Debt

Total

Apr

2023

129

87

64

58

45

20

9

14

8

11

8

5

4

3

4

469

May

2023

126

86

65

58

43

19

9

14

8

10

8

5

4

3

4

463

Jun

2023

131

87

66

58

45

19

10

14

9

10

8

5

4

3

4

473

Jul

2023

135

86

66

59

46

19

10

14

9

10

8

5

4

3

4

480

Aug

2023

131

85

67

58

46

20

10

15

9

10

9

5

4

3

4

476

Sep

2023

125

81

68

58

48

20

10

16

9

10

8

5

4

3

4

469

Oct

2023

121

79

67

57

48

20

12

14

9

9

8

5

4

3

4

459

Nov

2023

130

84

69

59

50

20

11

13

10

10

9

5

4

3

4

481

Dec

2023

133

86

70

62

51

21

11

13

10

10

9

5

5

3

3

493

Jan

2024

133

86

71

62

52

21

12

13

10

10

9

5

4

3

4

495

Feb

2024

137

86

73

62

53

21

13

13

10

10

9

5

4

4

4

504

Mar

2024

142

86

74

63

57

21

13

13

11

10

9

5

5

4

4

517

Table 4.8: Number of Closed-End Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of Closed-End Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

Municipal Debt

Other Types

Corporate Debt

Loan

Mortgage-Backed Security

STIV

Repurchase Agreement

Collateralized Obligation

Preferred Equity

Registered Fund

US Treasury Debt

Cash

Other Asset-Backed Security

Non US Sovereign Debt

Total

Apr

2023

224

124

166

218

125

72

124

55

71

67

45

45

51

35

34

647

May

2023

227

124

165

221

125

73

125

52

71

69

46

48

57

36

35

649

Jun

2023

225

123

167

224

128

72

125

59

72

64

44

42

44

35

36

654

Jul

2023

228

123

164

221

130

73

128

56

71

63

47

38

66

36

36

648

Aug

2023

233

123

166

219

130

73

108

56

73

66

45

43

54

35

34

646

Sep

2023

235

123

172

218

131

74

128

55

74

60

***

47

53

34

34

651

Oct

2023

232

120

171

216

133

73

148

56

73

61

45

48

48

35

32

646

Nov

2023

237

120

165

213

131

73

135

53

74

54

46

47

55

35

32

644

Dec

2023

238

120

163

216

132

74

120

53

76

55

***

43

53

35

30

645

Jan

2024

236

120

163

218

129

75

120

50

74

59

53

45

50

35

31

644

Feb

2024

240

120

166

219

132

76

129

52

73

57

52

44

48

35

32

647

Mar

2024

242

121

170

220

140

76

134

53

77

57

***

47

50

40

33

655

4

“Closed-End Funds” include interval funds and non-traded funds registered on Form N-2. Please see Appendix 13.5

for definitions of other capitalized terms used in this report.

16

August 6, 2024

4.5

Analytics Office

Non-Index Funds

Table 4.9: Aggregate Gross Value of Non-Index Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Index fund indication drawn from Form N-CEN, Item C.3.

Investment Type

Common Equity

Registered Fund

Corporate Debt

Mortgage-Backed Security

Municipal Debt

US Treasury Debt

STIV

Other Types

Loan

Collateralized Obligation

Other Asset-Backed Security

Non US Sovereign Debt

Repurchase Agreement

Cash

Preferred Equity

Total

Apr

2023

9,436

2,297

1,574

1,015

891

788

631

327

183

154

153

161

109

68

64

17,850

May

2023

9,314

2,264

1,565

1,047

883

762

604

332

176

155

155

155

97

68

63

17,638

Jun

2023

9,831

2,346

1,570

1,043

889

761

588

328

178

157

156

159

108

67

63

18,244

Jul

2023

10,135

2,393

1,575

1,047

893

769

591

340

181

159

157

161

102

65

63

18,630

Aug

2023

9,839

2,344

1,566

1,056

881

770

578

323

181

160

160

157

94

62

61

18,232

Sep

2023

9,359

2,252

1,535

1,048

849

751

587

336

185

164

162

152

94

68

58

17,599

Oct

2023

9,049

2,181

1,510

1,057

827

731

568

333

181

163

168

146

85

71

56

17,126

Nov

2023

9,810

2,340

1,575

1,131

867

741

571

326

183

166

170

152

93

64

58

18,250

Dec

2023

10,285

2,441

1,598

1,149

886

768

557

344

185

169

171

157

97

63

61

18,931

Jan

2024

10,274

2,440

1,618

1,163

891

770

572

327

187

170

175

161

102

62

60

18,972

Feb

2024

10,741

2,508

1,627

1,159

893

768

571

339

194

174

175

162

106

63

61

19,541

Mar

2024

11,060

2,565

1,636

1,197

899

781

584

332

203

182

180

161

102

69

62

20,012

Table 4.10: Number of Non-Index Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Index fund indication drawn from Form N-CEN, Item C.3. The “Total” row below indicates the number

of Non-Index Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

Registered Fund

Corporate Debt

Mortgage-Backed Security

Municipal Debt

US Treasury Debt

STIV

Other Types

Loan

Collateralized Obligation

Other Asset-Backed Security

Non US Sovereign Debt

Repurchase Agreement

Cash

Preferred Equity

Total

Apr

2023

5,251

2,169

2,008

1,128

763

1,546

1,780

1,129

370

468

484

411

291

505

193

10,055

May

2023

5,252

2,144

2,018

1,146

763

1,535

1,717

1,092

370

479

488

407

275

532

192

10,080

Jun

2023

5,255

2,139

2,020

1,144

757

1,531

1,671

1,060

375

479

487

407

277

471

184

10,059

Jul

2023

5,257

2,137

2,015

1,147

758

1,543

1,642

1,117

373

485

496

409

258

478

179

10,063

Aug

2023

5,261

2,125

2,016

1,153

755

1,562

1,573

1,073

380

493

499

404

261

446

192

10,057

17

Sep

2023

5,269

2,149

2,011

1,154

753

1,586

1,691

1,125

377

503

511

398

272

479

177

10,095

Oct

2023

5,251

2,101

2,012

1,164

749

1,555

1,698

1,095

377

505

521

387

264

450

176

10,058

Nov

2023

5,290

2,097

2,004

1,166

750

1,529

1,625

1,044

365

493

520

383

269

425

169

10,067

Dec

2023

5,305

2,080

2,005

1,165

751

1,540

1,501

1,050

362

492

502

379

272

425

169

10,096

Jan

2024

5,317

2,090

2,014

1,167

751

1,618

1,589

1,038

358

483

522

389

257

447

170

10,203

Feb

2024

5,305

2,074

2,004

1,157

749

1,605

1,603

1,041

378

489

524

391

262

415

168

10,155

Mar

2024

5,319

2,081

2,005

1,167

749

1,595

1,602

1,034

391

504

543

388

275

434

169

10,192

August 6, 2024

4.6

Analytics Office

Index Funds

Table 4.11: Aggregate Gross Value of Index Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Index fund indication drawn from Form N-CEN, Item C.3.

Investment Type

Common Equity

US Treasury Debt

Corporate Debt

Mortgage-Backed Security

Non US Sovereign Debt

STIV

Municipal Debt

Registered Fund

Other Types

Preferred Equity

Cash

Repurchase Agreement

Loan

Collateralized Obligation

Other Asset-Backed Security

Total

Apr

2023

9,475

1,009

624

258

206

203

104

90

52

39

20

13

***

***

2

12,101

May

2023

9,416

1,008

618

256

202

195

103

89

54

38

20

12

3

2

2

12,018

Jun

2023

10,030

1,016

626

258

209

186

105

95

58

40

18

11

***

***

2

12,660

Jul

2023

10,432

1,019

634

262

212

196

106

97

58

41

14

12

***

***

2

13,091

Aug

2023

10,163

1,022

626

260

208

192

105

96

56

39

12

12

***

***

2

12,799

Sep

2023

9,704

1,014

606

254

202

190

103

90

53

38

18

9

***

***

2

12,288

Oct

2023

9,426

1,011

586

250

201

179

104

87

49

36

14

11

***

***

2

11,964

Nov

2023

10,328

1,042

633

264

216

180

113

96

55

39

18

11

***

***

2

13,004

Dec

2023

10,956

1,072

665

276

222

179

116

103

54

41

17

8

***

***

2

13,720

Jan

2024

11,007

1,073

677

278

217

188

115

102

53

41

11

12

***

***

2

13,786

Feb

2024

11,562

1,075

671

272

219

196

114

106

58

42

12

12

***

***

2

14,351

Mar

2024

11,988

1,091

686

279

222

191

115

112

54

42

20

11

***

***

2

14,823

Table 4.12: Number of Index Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Index fund indication drawn from Form N-CEN, Item C.3. The “Total” row below indicates the number

of Index Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

US Treasury Debt

Corporate Debt

Mortgage-Backed Security

Non US Sovereign Debt

STIV

Municipal Debt

Registered Fund

Other Types

Preferred Equity

Cash

Repurchase Agreement

Loan

Collateralized Obligation

Other Asset-Backed Security

Total

Apr

2023

1,845

234

224

66

46

357

43

175

361

38

112

217

***

0

***

2,533

May

2023

1,842

227

225

66

44

351

44

176

351

38

112

215

***

0

***

2,534

Jun

2023

1,845

230

226

66

43

349

44

175

356

41

120

***

***

0

***

2,536

Jul

2023

1,845

232

226

67

45

313

43

173

375

40

111

204

***

0

***

2,536

Aug

2023

1,846

239

226

67

45

319

44

169

355

40

111

212

***

0

***

2,539

18

Sep

2023

1,850

253

225

67

41

345

44

168

368

36

117

***

***

0

***

2,552

Oct

2023

1,833

255

225

66

42

347

44

171

381

35

115

218

***

0

***

2,543

Nov

2023

1,818

240

219

65

41

340

42

174

358

37

110

215

***

0

***

2,524

Dec

2023

1,815

248

218

65

41

307

41

163

339

35

114

***

***

0

***

2,502

Jan

2024

1,789

240

219

65

39

321

42

161

327

37

138

223

***

0

***

2,495

Feb

2024

1,781

242

219

65

42

330

41

163

337

34

99

217

***

0

***

2,470

Mar

2024

1,778

249

217

64

39

324

41

162

344

35

96

***

***

0

***

2,463

August 6, 2024

4.7

Analytics Office

US Equity Funds

Table 4.13: Aggregate Gross Value of US Equity Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Common Equity

STIV

Other Types

Preferred Equity

Registered Fund

Cash

Repurchase Agreement

US Treasury Debt

Corporate Debt

Loan

Total

Apr

2023

13,874

256

68

47

23

21

***

6

6

***

14,318

May

2023

13,842

243

71

46

23

20

***

6

6

***

14,271

Jun

2023

14,742

246

72

46

24

24

17

5

***

***

15,183

Jul

2023

15,270

246

79

46

23

19

***

5

6

***

15,710

Aug

2023

14,915

232

74

45

27

19

***

5

6

***

15,339

Sep

2023

14,195

240

72

43

23

23

14

6

***

***

14,622

Oct

2023

13,786

228

74

42

23

27

13

5

6

1

14,205

Nov

2023

15,064

236

79

44

23

21

15

6

6

1

15,496

Dec

2023

15,925

232

85

46

25

20

16

7

***

***

16,363

Jan

2024

16,038

229

85

46

26

18

***

6

7

***

16,473

Feb

2024

16,874

232

99

47

29

18

18

6

6

0

17,329

Mar

2024

17,458

232

102

47

30

21

17

7

***

***

17,920

Table 4.14: Number of US Equity Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of US Equity Funds, and not the sum of the preceding rows.

Investment Type

Common Equity

STIV

Other Types

Preferred Equity

Registered Fund

Cash

Repurchase Agreement

US Treasury Debt

Corporate Debt

Loan

Total

Apr

2023

4,122

480

458

55

109

150

77

73

36

***

4,358

May

2023

4,124

490

436

56

95

140

85

72

41

***

4,351

Jun

2023

4,132

468

426

51

98

122

85

74

39

3

4,360

Jul

2023

4,132

412

449

47

95

121

68

71

38

***

4,363

Aug

2023

4,143

406

438

54

97

124

78

72

34

***

4,381

19

Sep

2023

4,159

442

462

50

118

136

77

78

34

3

4,407

Oct

2023

4,152

469

451

52

94

129

83

57

38

***

4,379

Nov

2023

4,161

423

433

50

84

120

81

47

33

***

4,390

Dec

2023

4,175

379

445

50

83

114

***

48

32

1

4,406

Jan

2024

4,190

382

439

49

84

130

82

43

35

1

4,426

Feb

2024

4,184

411

434

47

91

117

80

44

34

1

4,421

Mar

2024

4,214

386

441

46

84

101

86

53

37

1

4,461

August 6, 2024

4.8

Analytics Office

Taxable Bond Funds

Table 4.15: Aggregate Gross Value of Taxable Bond Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Corporate Debt

US Treasury Debt

Mortgage-Backed Security

Non US Sovereign Debt

STIV

Other Types

Loan

Other Asset-Backed Security

Collateralized Obligation

Repurchase Agreement

Total

Apr

2023

1,932

1,632

1,161

347

302

276

171

141

141

88

6,190

May

2023

1,918

1,612

1,192

339

296

280

164

142

142

79

6,161

Jun

2023

1,928

1,620

1,194

348

268

278

166

143

144

86

6,174

Jul

2023

1,940

1,629

1,201

352

279

277

169

144

145

84

6,220

Aug

2023

1,923

1,624

1,208

346

285

262

169

147

146

76

6,185

Sep

2023

1,881

1,597

1,192

335

281

280

173

149

149

76

6,113

Oct

2023

1,841

1,582

1,194

330

276

267

169

155

148

70

6,033

Nov

2023

1,937

1,625

1,270

350

268

263

172

157

152

76

6,270

Dec

2023

1,989

1,675

1,307

361

256

279

174

158

155

76

6,431

Jan

2024

2,019

1,679

1,321

359

278

254

177

161

155

83

6,485

Feb

2024

2,020

1,680

1,311

363

281

250

183

162

159

87

6,496

Mar

2024

2,044

1,709

1,349

366

277

249

192

166

165

81

6,598

Table 4.16: Number of Taxable Bond Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of Taxable Bond Funds, and not the sum of the preceding

rows.

Investment Type

Corporate Debt

US Treasury Debt

Mortgage-Backed Security

Non US Sovereign Debt

STIV

Other Types

Loan

Other Asset-Backed Security

Collateralized Obligation

Repurchase Agreement

Total

Apr

2023

1,801

1,268

1,014

397

734

800

331

468

443

298

2,611

May

2023

1,813

1,263

1,028

393

699

804

332

473

453

277

2,626

Jun

2023

1,813

1,273

1,031

392

692

794

339

473

453

297

2,638

Jul

2023

1,811

1,281

1,034

394

716

807

332

483

458

292

2,629

Aug

2023

1,808

1,304

1,035

393

670

760

336

488

463

287

2,627

20

Sep

2023

1,805

1,332

1,039

383

702

806

333

496

470

296

2,645

Oct

2023

1,803

1,345

1,047

374

693

800

333

507

472

290

2,651

Nov

2023

1,798

1,333

1,050

372

726

777

324

506

461

296

2,658

Dec

2023

1,799

1,353

1,054

371

671

789

320

490

463

297

2,653

Jan

2024

1,798

1,432

1,054

378

733

793

318

508

454

300

2,736

Feb

2024

1,795

1,420

1,049

385

766

765

337

512

461

299

2,736

Mar

2024

1,790

1,409

1,058

382

783

788

352

529

475

308

2,736

August 6, 2024

4.9

Analytics Office

Multi-Asset Funds

Table 4.17: Aggregate Gross Value of Multi-Asset Fund Investments by

Investment Category ($Billions)

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f).

Investment Type

Registered Fund

Common Equity

Corporate Debt

Other Types

US Treasury Debt

STIV

Mortgage-Backed Security

Loan

Non US Sovereign Debt

Preferred Equity

Total

Apr

2023

2,330

973

255

198

156

146

111

15

16

14

4,214

May

2023

2,298

952

253

198

150

141

111

15

16

14

4,146

Jun

2023

2,384

996

257

203

149

139

106

15

16

13

4,277

Jul

2023

2,437

1,015

258

205

151

142

107

15

16

13

4,360

Aug

2023

2,382

983

256

202

158

134

108

15

16

13

4,266

Sep

2023

2,287

934

249

198

158

129

110

16

15

12

4,107

Oct

2023

2,216

897

243

197

151

129

112

16

14

12

3,984

Nov

2023

2,382

951

256

198

147

136

124

15

15

12

4,237

Dec

2023

2,487

996

261

203

153

137

117

16

15

12

4,397

Jan

2024

2,487

994

265

201

152

139

119

16

15

12

4,400

Feb

2024

2,556

1,033

265

209

150

136

119

16

15

12

4,512

Mar

2024

2,617

1,064

265

208

149

141

126

17

15

13

4,615

Table 4.18: Number of Multi-Asset Funds Reporting Gross Value of Each

Investment Category, With an Aggregate Gross Value Exceeding

Five Percent of Net Assets

This table includes fund of funds and relies upon value reported (Form N-PORT, Item C.2.c) by asset

type (Form N-PORT, Item C.4.a) and issuer type (Form N-PORT, Item C.4.b), adjusted for consensus —

see the appendix for more details. Includes cash and cash equivalents (Form N-PORT, Item B.2.f). The

“Total” row below indicates the number of Multi-Asset Funds, and not the sum of the preceding

rows.

Investment Type

Registered Fund

Common Equity

Corporate Debt

Other Types

US Treasury Debt

STIV

Mortgage-Backed Security

Loan

Non US Sovereign Debt

Preferred Equity

Total

Apr

2023

2,089

763

379

659

416

594

175

39

51

50

2,738

May

2023

2,084

749

371

676

404

592

179

38

50

49

2,752

Jun

2023

2,077

746

376

636

394

555

174

36

52

48

2,710

Jul

2023

2,084

748

376

635

394

546

176

41

54

48

2,721

Aug

2023

2,067

741

381

630

399

536

183

43

51

48

2,700

21

Sep

2023

2,060

724

380

625

403

593

180

43

53

47

2,701

Oct

2023

2,042

717

379

602

382

601

180

43

52

47

2,692

Nov

2023

2,049

720

376