Amundi Decoding: ETF Investors report 2026
2026 Marketing Communication DECODING ETF Investors
The state of play in ETF investing The next wave of ETF investment More confident and more engaged ETF ownership has grown to 31% of investors polled globally Global ETF ownership is forecast to rise from 31% to ~35% by 2027 73% of ETF investors are confident in their investment decisions, compared to just 55% of non-ETF investors with Northern European markets leading adoption. But converting intent into action will require tailored engagement strategies. ETF investors hold broader portfolios, invest more consistently, and are more loyal to the platforms that serve them. 04 -11 12-21 22-25 Headlines Benefitting from the tailwinds of increasing digitalisation and retail investor participation in financial markets, ETFs have cemented their place at the heart of mainstream investment portfolios. But the story of who is driving that growth, and why they are choosing ETFs, is more nuanced and more commercially significant than the headline suggests.
The state of play in ETF investing 1 4 DECODING | ETF Investors 5 DECODING | ETF Investors TWN SGP NLD DNK DEU CHE IRL KOR BEL AUT HKG ZAF CHN FIN THA SWE ITA IND GBR UAE BRA MYS ESP POL FRA JPN 61% 52% 49% 47% 46% 40% 38% 38% 37% 35% 34% 33% 30% 28% 26% 24% 22% 20% 20% 19% 19% 19% 19% 18% 16% 14% +9 +13 +19 +25 +10 +8 +3 +6 +1 +8 * +5 +7 +4 +1 +7 -6 -10 -2 -5 +4 -3 -2 -12 -1 -12 Growth is particularly high in the Netherlands, Taiwan, Singapore, Switzerland and Germany, meaning ETF adoption is deepening in mature markets and accelerating in younger markets. While ETFs offer key benefits of simplicity and cost-efficiency, this is not simply a story of novices attracted by price and convenience. ETFs are increasingly being recommended by advisers – and are being embraced by people with higher-than-average financial literacy, as well as the more wealthy and more confident segments of the investor population. investor sample hold ETFs compared to 28% the previ ous year. of our global 31% Fig. 1: % of investor sample holding ETFs by market in 2026 and % change compared to 2025 * (weighted totals) Base size: total investors, n=13,249 *
44% of investors aged 31-40 currently hold ETFs – significantly higher than any other age group. It is also the age group demonstrating the strongest year-on-year growth in ETF ownership (+14% p.p from 2025). Those in high-income households are nearly twice as likely as those in low-income households to hold an ETF in their portfolio ( 48% vs. 26% ), while men are slightly more likely than women ( 39% vs. 32% ). 1. The state of play in ETF investing 1. The state of play in ETF investing Fig. 2: % of investors holding ETFs in their portfolio and percentage change compared to 2025 (in brackets) * From a demographic perspective, age and household income are the key factors impacting growth in ETF adoption. 6 7 Age Gender Household Income 21-30 31-40 41-50 (+13%) (+1%) 43% (+14%) 48% 26% Men Women High income Medium income Low income Gender 39% Men Women (+7%) (+6%) 32% Age 37% 21-30 31-40 41-50 51-60 +61 (+7%) (+14%) (+8%) (-2%) (+2%) 44% 36% 23% 20% DECODING | ETF Investors DECODING | ETF Investors Base size: total investors, n=13,249 *
The growth among advised investors suggests that ETFs have become a routine part of how professional portfolio construction works in practice. 1. The state of play in ETF investing 1. The state of play in ETF investing Fig. 3: % of investors holding ETFs in their portfolio (and percentage change compared to 2025) * 8 9 Fina Use of advice Investment confidence 0/3 literacy 1/3 literacy 2/3 literacy 3/3 literacy Advised Never advised Confident Expert Somewhat knowledgeable Beginner +0 +0 +7 +7 45% 23% 39% 39% 38% 29% Fina Use of advice Investment confidence 0/3 literacy 1/3 literacy 2/3 literacy 3/3 literacy Advised Never advised Confident Expert Somewhat knowledgeable Beginner +0 +0 +7 +7 45% 23% 39% 39% 38% 29% Financial literacy Use of advice Investment confidence 0/3 literacy 1/3 literacy 2/3 literacy 3/3 literacy Advised Never advised Confident Expert Somewhat knowledgeable Beginner +0 +0 +7 +7 45% 49% 30% 26% 23% 22% 39% 39% 38% 29% ETF adoption is increasing among investors who receive professional advice (+7%). DECODING | ETF Investors DECODING | ETF Investors Base size: total investors, n=13,249 (Asked only in 2026: respondents self-reported level of confidence in investing) (Asked only in 2026: respondents answering standardised financial literacy test questions accurately) *
31% of our global investor sample now hold ETFs - up from 28% the previous year. 11 10 1. The state of play in ETF investing Total sample Key takeaway What we are seeing is genuinely encouraging – ETFs are now a mainstream and growing component of retail investor portfolios across the world. But the data also highlights uneven penetration and a significant gap between leading and lagging segments of the investor population. Education, advice and access can help . For our clients and partners, that is where the conversation needs to go next . 1. The state of play in ETF investing DECODING | ETF Investors DECODING | ETF Investors
The next wave of ETF investment 2 Fig. 4: Forecast % growth in ETF penetration among investors 2026-2027 (weighted totals) * The rise in ownership is driven largely by emerging and transitioning markets , but age, advice model and wealth all play a key role in the pace of ETF adoption. In contrast, barriers that could hinder the growth are consistent across market and segment. Only 36% of investors globally rate their ETF knowledge as expert or comfortable. The gap between awareness and ownership is an education and confidence gap , rather than any rational resistance. Global ETF ownership is forecast to rise by over 15% in the next 12 months from 31% to Our forecast points to an additional ETF investors across surveyed markets in the next 12 months, raising total ETF ownership to ~ 35% by 2027 5.78 million 34.8 million DECODING | ETF Investors DECODING | ETF Investors 12 13 Investors holding ETFs in 2026 Forecast investors holding ETFs in 12 months GLOBAL TWN DEU SGP NLD CHE DNK KOR AUT IRL ZAF HKG CHN BEL IND THA ITA UAE BRA POL FIN GBR MYS ESP SWE FRA JPN 14% 15% 16% 18% 20% 20% 19% 19% 19% 19% 20% 20% 22% 24% 26% 28% 30% 33% 34% 35% 37% 38% 38% 40% 46% 47% 49% 52% 61% 31% 21% 24% 25% 34% 25% 31% 25% 31% 38% 31% 36% 35% 50% 38% 42% 39% 41% 50% 47% 51% 53% 63% 35% 22% 22% For details of the forecasting methodology, see page 36. *
Advised Somewhat likely Very likely Never advised Men Women Affluent Mass affluent Retail HNWI 27% 45% 6% 11% 42% 38% 42% 37% 13% 14% 7% 9% 31-40 21-30 41-50 51-60 61+ 39% 42% 45% 7% 33% 4% 23% 2% 11% 15% 35% 40% 9% 9% Advised Somewhat likely Very likely Never advised Men Women Affluent Mass affluent Retail HNWI 27% 45% 6% 11% 42% 38% 42% 37% 13% 14% 7% 9% 31-40 21-30 41-50 51-60 61+ 39% 42% 45% 7% 33% 4% 23% 2% 11% 15% 35% 40% 9% 9% Advised Somewhat likely Very likely Never advised Men Women Affluent Mass affluent Retail HNWI 27% 45% 6% 11% 42% 38% 42% 37% 13% 14% 7% 9% 31-40 21-30 41-50 51-60 61+ 39% 42% 45% 7% 33% 4% 23% 2% 11% 15% 35% 40% 9% 9% Where people are not yet ETF investors, they are more likely to expect to use them in the future if they receive advice from a professional . When it comes to affluence, the likelihood to invest in ETFs increases in line with wealth . There is a clear link between age and future intent - with those in their 20s a natural target. 2. The next wave of ETF investment The next wave of ETF growth will be driven by the young and the advised. 14 15 2. The next wave of ETF investment DECODING | ETF Investors DECODING | ETF Investors Fig 5: % of non-ETF investors considering investing in ETFs in the next 12 months * Base size: investors who do not hold ETFs, n=8,456 *
36% of end-investors feel expert or comfortable in being able to explain how ETFs work and typical use cases. ETF adoption is closely linked to broader investment understanding - the challenge is therefore as much educational as it is commercial. Understanding of ETFs is significantly lower in Japan, Finland, France and Korea – all markets where adoption is comparatively low. Similarly, the demographic groups with the lowest ETF knowledge are also less likely to hold ETFs: the never-advised, older investors and women . Closing these knowledge gaps will be important deepening engagement with these groups. ETF penetration is weakest in markets where ETF knowledge is lowest. 16 17 Fig. 6: % of investors rating their ETF knowledge as expert / comfortable * DECODING | ETF Investors DECODING | ETF Investors 2. The next wave of ETF investment 2. The next wave of ETF investment IND NLD Age Market Wealth Advice Gender 53% 55% 44% 23% 13% JPN AUT THA CHE ZAF ITA GBR DEU DNK UAE CHN SWE POL HKG BRA BEL ESP MYS FRA FIN TWN IRL KOR SGP 58% 21-30 31-40 41-50 51-60 61+ 55% 54% 51% 49% 48% 48% 45% 44% 43% 43% 36% 35% 34% 34% 33% 28% 27% 26% 26% 25% 24% 24% 22% 18% 12% 37% 56% 63% 69% Retail Mass affluent Affluent HNWI Men Women 56% 20% Regularly advised Never advised 49% 39% Base size: total investors, n=13,249 Global average (weighted totals) 36% *
21-30 16% 21-30 14% 31-40 12% 41-50 12% 51-60 9% 61+ 6% 21-30 15% 31-40 16% 41-50 18% 51-60 22% 61+ 20% Can sell quickly Tax efficiency Adviser recommended 21-30 16% 31-40 16% 41-50 16% 51-60 15% 61+ 24% 21-30 14% 31-40 12% 41-50 12% 51-60 9% 61+ 6% 21-30 15% 31-40 16% 41-50 18% 51-60 22% 61+ 20% 21-30 11% 31-40 11% 41-50 10% 51-60 7% 61+ 3% 3% 21-30 13% 31-40 9% Can sell quickly AI recommended Tax efficiency Adviser recommended 21-30 15% 31-40 16% 41-50 18% 51-60 22% 61+ 20% Can sell quickly Tax efficie Adviser recommended 21-30 16% 31-40 16% 41-50 16% 51-60 15% 61+ 24% 21-30 14% 31-40 12% 41-50 12% 51-60 9% 61+ 6% 21-30 15% 31-40 16% 41-50 18% 51-60 22% 61+ 20% 21-30 11% 31-40 11% 41-50 10% 51-60 7% 61+ 3% 3% 21-30 13% 31-40 9% 41-50 9% 51-60 6% 6% 61+ 3% 3% Can sell quickly AI recommended Tax efficiency Influencer recommended Fig. 7: Reasons investors choose to invest in ETFs * Diversification, low fees and ease of access are the primary reasons investors choose ETFs across almost every age group. That said, there are some notable differences by age when getting into the secondary factors. DECODING | ETF Investors DECODING | ETF Investors The fundamental appeal of ETFs holds across all age groups, but there are meaningful differences at the margins. 2. The next wave of ETF investment 2. The next wave of ETF investment 18 19 Diversification Lower fees Ease of access / trading Country / industry access Can sell quickly Adviser recommended Ease & efficiency Transparency Fear of missing out Tax efficiency Influencer recommended AI recommended 41% 27% 27% 19% 18% 18% 18% 18% 12% 11% 9% 9% Base size: investors who hold ETFs or or would consider them, n=6,998 Adviser recommended 21-30 16% 31-40 16% 41-50 16% 51-60 15% 61+ 24% 21-30 14% 31-40 12% 41-50 12% 51-60 9% 61+ 6% 21-30 15% 31-40 16% 41-50 18% 51-60 22% 61+ 20% 21-30 11% 31-40 11% 41-50 10% 51-60 7% 61+ 3% 3% 21-30 13% 31-40 9% 41-50 9% 51-60 6% 6% 61+ 3% 3% Can sell quickly AI recommended Tax efficiency Influencer recommended *
Behind the global headline can sit a world of difference – the same product, but sometimes very different reasons why investors buy it. In some markets more than others, investors are more attracted to ETFs by secondary factors. Understanding this can help providers unlock the right narrative: Key takeaway Diversification is the universal story , but beneath that the motivations vary considerably by market and by segment. For ETF providers the priority is clear - identifying the right narrative to engage with different investor audiences depending on who they are and where they live . In Northern European markets – notably, Switzerland, Ireland, Denmark and Belgium – cost is king. Lower fees index dramatically above the global average, signalling an investor base for whom fee transparency is a prerequisite, not a selling point. Fig. 8: % of investors who hold ETFs or would consider them citing lower fees as a driver of ETF investment * Global AUT DEU NLD IRL DNK BEL CHE 27% 34% 34% 36% 38% 38% 42% 46% In emerging markets – India, Brazil, South Africa, UAE – the adviser relationship is a critical conversion mechanism, with recommendation scores running well above the global norm. Advice and guidance offered through platforms and trusted intermediary networks are the growth engine. Global ZAF UAE IND BRA Fig. 9: % of investors who hold ETFs or would consider them citing professional advice as a driver of ETF investment * 18% 24% 24% 26% 27% Globally, 12% cite not wanting to miss out as a driver – but we see higher levels of “FOMO” in Sweden, India, China and Korea. In these markets, social momentum and peer behaviour can be active acquisition channels. Global GBR MYS KOR CHN IND SWE Fig. 10: % of investors who hold ETFs or would consider them citing fear of missing out as a driver of ETF investment * 21% 20% 20% 19% 17% 17% 12% DECODING | ETF Investors DECODING | ETF Investors 2. The next wave of ETF investment 2. The next wave of ETF investment 20 21 Base size: investors who hold ETFs or would consider them, n=6,998” *
61% 44% 48% 43% For the challenge, enjoyment or sense of achievement To retire early To pay for a big future expense (eg. travel, a car, a major purchase) To fund retirement / ensure long-term financial security To protect my money from inflation To generate income from my investments To become financially independent / have more freedom in the future To grow my wealth over time 18% 16% 27% 49% 20% 28% 34% 35% 32% 40% 41% 18% More confident and more engaged 3 This is an investor population with a clear sense of what they are investing for. For distributors, this is a powerful positioning opportunity. Framing ETFs not as a product category but as a vehicle for achieving investor goals can transform the conversation and structure it into one about outcomes. The opportunity lies in helping investors identify which ETFs are better aligned to their goals – be that income generation, inflation protection, long-term financial security – and refining products to match investors’ ambitions. Fig. 11: Investor goals and motivations by ETF ownership (weighted totals) * DECODING | ETF Investors DECODING | ETF Investors ETF investors are more engaged than non-ETF investors. They also describe themselves as expert investors, more confident in their savings decisions, and significantly more assured about funding a comfortable retirement. ETF investors Non-ETF investors 22 23 Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 *
ETF investors don’t need to be investment experts or consume vast amounts of in-depth educational content to feel confident. What matters more is how proactively they seek out information from a wide range of sources. 3. More confident and more engaged 12% of ETF investors globally rate their ETF knowledge as ‘ expert ’ 24 25 3. More confident and more engaged DECODING | ETF Investors DECODING | ETF Investors Only 12% of ETF investors globally rate their ETF knowledge as ‘expert’, yet 71% feel assured in their investment decisions.
Private groups / chats (Whatsapp / Telegram / Discord groups) Colleagues or peers workplace or social network discussions Social media X, Linkedin, TikTok etc. Online third-party comparison tools platforms that compare investment products ETF investors Non-ETF investors Mainstream media TV, radio, and general news outlets Robo- advisers automated digital advice based on algorithms AI assistant such as ChatGPT, Gemini etc. 27% 16% Podcasts & video content investment focused shows and Youtube channels 24% 12% Online blogs, forums and communities local investor groups, investing subreddits, etc. 23% 13% 20% 14% 20% 13% 17% 16% 15% 14% 13% 9% 10% 5% Expert opinion analysts, commentators, or influencers via blogs, webinars, or interviews 31% 20% Family and friends informal advice based on personal experience 27% 27% Investment platforms / apps tools, calculators, and dashboards for self-directed investors 35% 19% 36% 23% Financial press newspapers, magazines, and dedicated financial news sites 3. More confident and more engaged 05 3. More confident and more engaged DECODING | ETF Investors DECODING | ETF Investors Fig. 12: % of investors using sources of investment information, advice and by ETF ownership (weighted totals) * They are more likely to source information from investment platforms and tools (35% vs. 19%), financial press (36% vs. 23%), expert opinion and commentary (31% vs. 20%), AI assistants (27% vs. 16%) and podcasts and video content (24% vs. 12%) . This suggests ETF investors are not passively consuming information but are actively gathering intelligence from multiple sources, with four of the top five sources being digital. ETF investors are knowledge omnivores – they seek information from everywhere. Access to readily available information is giving ETF investors the confidence to invest without needing to be experts. 26 27 Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 *
I am worried that I might lose money 25% Overcoming barriers to investing with simple investment education. This does not require in depth knowledge - rather access to simple investment content and financial education that can help them understand ETFs and how they might work for them. This is particularly true in Asia, who are more likely to cite not knowing enough about investing as a why they don’t hold ETFs in their portfolio. I don’t think I know enough about investing 28% I prefer other types of investments 21% I’m not sure how ETFs fit into my portfolio 20% DECODING | ETF Investors DECODING | ETF Investors 3. More confident and more engaged 3. More confident and more engaged 28 29 I don’t have enough money to start investing in ETFs 17% Base size: investors familiar with ETFs but don’t hold any, n=5,305 Fig. 13: Reasons why investors do not hold ETFs in their portfolio (weighted totals) * The opportunity for those offering ETFs to investors is to help people feel comfortable taking that first step. *
So what is the primary reason investors choose ETFs? Diversification. Our research shows that across the total population, ETF investors are more likely to feel their portfolios are diversified. And this is felt throughout their investment journey. Generally, older investors feel progressively less diversified. But, among ETF investors, that gap largely closes, with 88% of over-61-yr-old ETF owners feeling at least somewhat diversified . ETF investors are more likely to hold a higher variety of asset types in their portfolio, suggesting they are more actively aware of the benefits of diversification. While 36% of non-ETF investors hold just a single asset class, only 7% of ETF investors display such concentrated holdings. Conversely, 43% of ETF investors hold four or more asset types in their portfolios, compared to just 10% of non-ETF investors. 79% 78% 72% 66% 61% 93% 100% 80% 60% 40% 20% 0% 21-30 31-40 41-50 51-60 61+ 94% ETF investors Non-ETF investors 92% 84% 88% 79% 78% 72% 66% 61% 93% 100% 80% 60% 40% 20% 0% 21-30 31-40 41-50 51-60 61+ 94% ETF investors Non-ETF investors 92% 84% 88% DECODING | ETF Investors DECODING | ETF Investors Fig. 14: % of investors feeling their portfolio is at least somewhat diversified by ETF ownership (weighted totals) * Fig. 15: % of investors holding investments by asset type (weighted totals) * 3. More confident and more engaged 3. More confident and more engaged 30 31 4% 6% 20% 28% 36% 24% 19% 31% 19% 7% ETF investors Non-ETF investors 1 asset class type 2 asset types 3 asset types 4 asset types 5+ asset class types Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 * *
The engaged investor is also the retained investor. 03 04 Of those using digital platforms to invest, ETF investors are significantly less likely to hold dormant accounts (13% vs. 20%) or hold funds on platforms they have not interacted with in over 12 months. In an industry where platform loyalty and active usage are critical commercial metrics, this matters . Decoded 2026: Savers & Investors | ETF investment, knowledge and momentum DECODING | ETF Investors Base size: investors who hold digital investments, e.g. cryptocurrency n=3,555 20% 13% 39% 43% ETF investors Making new investments Making new investments Rebalancing investments Rebalancing investments Redeeming investments Redeeming investments Regularly Occasionally Non ETF investors ETF investors Non-ETF investors ETF investors Non-ETF investors 43% 34% 34% 20% 44% 25% 33% 19% 31% 19% 27% 15% € € € € 20% 13% 39% 43% ETF investors Making new investments Making new investments Rebalancing investments Rebalancing investments Redeeming investments Redeeming investments Regularly Occasionally Non ETF investors ETF investors Non-ETF investors ETF investors Non-ETF investors 43% 34% 34% 20% 44% 25% 33% 19% 31% 19% 27% 15% € € € € ETF investors are also more consistent investors . They are over 50% more likely to invest monthly than their non- ETF investing peers - 34% of ETF investors say they add to their investments every month , compared to 20% of non-ETF investors who say the same. They are also more likely to rebalance their investments at least a few times a year (69%) and, as such, are more likely to redeem investments a few times a year (50%). For distributors, the commercial case is that ETF investors are more loyal and more active platform users . Fig. 16: digital investor engagement with investment tools and platforms, by ETF ownership (weighted totals) * Fig. 17: % of ETF investors and non-ETF investors making new investments, rebalancing or redeeming their investments regularly / occasionallyy (weighted totals) * Do not currently hold any funds Hold funds they have not interacted with in over 12 months ETF investors ETF investors Non-ETF investors Non-ETF investors DECODING | ETF Investors 3. More confident and more engaged 32 33 Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 Occasionally - a few times a year Regularly - monthly * * 3. More confident and more engaged
Confident of achieving their investment goal of funding retirement / ensuring long-term financial security Describing their level of knowledge about investing and personal finance as confident / expert C onfident in their saving and investment decisions for their financial future S coring 3/3 financial literacy questions correctly 48% 71% 84% 57% 33% 73% 38% Non-ETF Investors Non-ETF Investors ETF Investors ETF Investors 52% 3. More confident and more engaged The cumulative effect of broader portfolios, clearer goals and richer information habits is a more confident investor. ETF investors are more likely than non-ETF investors to rate themselves as confident or expert investors (48% vs. 33%) , more confident in their savings and investment decisions overall (71% vs. 52%) , and more confident in their ability to fund a comfortable retirement (84% vs. 73%) . For distributors, positioning ETFs as a confidence-building tool, not just a cost-efficient one, opens a conversation that resonates with a much wider range of investors . * Key takeaway 3. More confident and more engaged The most striking aspect in our data is not the headline growth figure – it is the potential power of ETFs for investors and their providers . ETF investors in our sample are more confident investors than their peers, taking simple steps like using investment tools, consuming expert opinion and even exploring AI tools which ultimately result in them demonstrating a higher level of financial literacy . ETF investors make more regular investments and remain more engaged with their investment platforms. Offering access to ETFs and the tools and financial education that empower people to use them, can help build a more loyal, more active client base who are more confident in their long-term financial health. DECODING | ETF Investors DECODING | ETF Investors 34 35 Base size: investors who hold ETFs, n=4,793; investors who do not hold ETFs, n=8,456 *
About this research Methodology and Sample Construction The findings in this report are based on the views of 13,249 retail investors surveyed across 26 countries spanning 4 continents. At a global and market level our survey data is weighted to ensure it is representative of investor age and gender profiles in each market. The survey was conducted online, in local languages, in March 2026. As a market leader in savings and investments, we commissioned H/Advisors to design and deliver the market research for this report, analyse the research findings and contribute to the report. H/Advisors are a leading consultancy firm, servicing clients in the financial and professional services sector. They provide integrated public policy and communications consulting, global thought leadership programmes and independent market research. H/Advisors UK - Home ETF Forecasting Methodology The methodology combines data on population, investor participation, and investment intentions to estimate current and future ETF ownership. First, for each country, by using available sources an overall participation rate is created to estimate how many adults currently invest, based on the size of the population and its age structure. This provides a baseline estimate of current investors, which is then distributed across age groups using available data on how participation varies by age. Next, the model looks at the share of people who do not currently invest and uses survey data to identify the proportion of these non - investors who say they are “very likely” to invest in the next 12 months. This is used to estimate how many new investors may enter the market, using the formula: Forecast = Current Ownership + (Non - Owners × (Very Likely / Non - Owners)). By adding these new investors to the existing base, the model estimates both the total potential level of ETF ownership and the likely increase over the next year. Due to a lack of available 3rd party data, the UAE, Malaysia, South Africa and Singapore are excluded from our forecasts. Definitions (1) Financial Literacy - Scores (out of three) across the “big three” financial literacy questions, created by Dir. Annaaria Lusardi and Prof. Olivia S. Mitchell. Details of the specific questions can be found here (2) Wealth – Retail Investors (up to €60,000 investable assets) / Mass Affluent Investors (€60,000 - €300,000 investable assets) / Affluent Investors (€300,000 - €1,200,000 investable assets) / High Net- Worth Investors (more than €1,200,000 investable assets) (3) Household Income – Low (up to €48,000) / Medium (€48,001 - €96,000) / High (more than €96,000) Market Sample Male Female 18-20 21-30 31-40 41-50 51-60 61+ AUT 512 66% 34% 4% 14% 15% 14% 16% 37% BEL 508 59% 41% 4% 16% 17% 18% 12% 33% BRA 513 49% 50% 9% 28% 23% 16% 13% 11% CHN 517 53% 47% 2% 10% 41% 23% 21% 3% DNK 518 70% 30% 3% 12% 13% 12% 16% 43% FIN 503 61% 39% 3% 14% 17% 16% 15% 34% FRA 502 52% 48% 3% 13% 17% 18% 13% 36% DEU 508 68% 32% 5% 18% 18% 17% 11% 32% HKG 509 59% 41% 1% 4% 23% 25% 16% 32% IND 509 65% 35% 5% 23% 28% 21% 13% 10% IRL 518 65% 35% 6% 19% 19% 19% 12% 26% ITA 509 65% 35% 3% 13% 16% 19% 13% 36% JPN 505 78% 22% 1% 5% 9% 16% 23% 45% KOR 505 68% 32% 0% 9% 21% 26% 30% 13% MYS 509 58% 42% 2% 16% 24% 22% 17% 19% NLD 519 68% 32% 4% 18% 21% 20% 11% 26% POL 510 68% 32% 5% 21% 25% 18% 9% 23% SNG 507 63% 37% 4% 14% 24% 23% 23% 12% ZAF 506 46% 54% 10% 32% 25% 18% 11% 3% ESP 507 64% 36% 3% 11% 16% 20% 14% 37% SWE 509 53% 57% 2% 8% 14% 16% 18% 41% CHE 508 70% 30% 3% 12% 17% 18% 17% 33% TWN 502 61% 39% 2% 12% 17% 20% 18% 30% THA 519 56% 43% 8% 27% 22% 21% 19% 3% UAE 505 59% 41% 4% 15% 38% 25% 12% 6% GBR 508 56% 43% 4% 15% 17% 16% 11% 36% DECODING | ETF Investors DECODING | ETF Investors 36 37
Marketing Communication Savers DECODING 2026 What’s Next? At Amundi, we are committed to providing valuable insight to our partners. Retail investing has been overhauled in the last decade, but as our research finds, there are clear and established retail investor habits, motivations, and desires globally. If you would like to find out more, or ask us a specific question about our global retail investor study, please reach out: Teresa Santos Client Insights Analyst teresa .santos@amundi.com Miriam Oucouc Global Head of Client Experience & ETF Marketing miriam.oucouc@amundi.com Bethany Morris Head of Client Insights & Innovation bethany.morris@amundi.com Ashleigh Cowie-Jackson Client Engagement Lead ashleigh.cowie-jackson@amundi.com Bertrand Fontaneau Client Insights Manager bertrand.fontaneau@amundi.com DECODING | ETF Investors WWW.AMUNDI.COM
Amundi Asset Management SAS French “Société par Actions Simplifiée” with a capital of €1,143,615,555 Portfolio Management Company approved by the AMF under number GP 04000036 RCS PARIS 437 574 452 Registered office: 91-93, boulevard Pasteur, 75015 Paris - France Postal address: 91-93, boulevard Pasteur, 75015 Paris- France Tel: +33 (0)1 76 33 30 30 The information contained in this document is deemed accurate as at 1 June, 2026 (source: Amundi). IMPORTANT INFORMATION This document contains information which summarize the result and the findings of a survey conducted by Amundi Asset Management S.A.S. The views and the findings should not be relied upon as investment advice, security recommendation, or as an indication of trading for any Amundi product. This material is provided for illustrative purposes only and does not constitute an offer or solicitation to buy or sell any security, fund units or services. Whilst due care and attention has been taken during the preparation of this document, the Amundi group of companies cannot accept liability for any errors or omissions contained within and expressly disclaim any liability whether in contract or negligence to the addressee of this document or any third party. Investment involves risks, including market, political, liquidity and currency risks . The information contained herein is as at June 2026 except where otherwise stated.