US Stock Funds Attract Record Inflows for 13 Consecutive Months Despite Persistent High Inflation

Despite persistently elevated inflation in the United States, investor enthusiasm for the stock market has shown no significant signs of waning.

According to data from fund flow research firm EPFR, as of September 2026, US equity funds had recorded 13 consecutive months of net inflows, marking the longest streak since the firm began tracking such data in 2000.

Meanwhile, the S&P 500 Index has gained approximately 14% year-to-date and has repeatedly hit record highs, indicating that high inflation has not notably dampened investor risk appetite.

Equity Funds Log 13 Straight Months of Net Inflows, Setting a Record Spanning More Than 25 Years

EPFR data shows that as of the end of September, US equity funds had attracted net inflows for 13 consecutive months, surpassing any prior inflow cycle since the firm began tracking related data in 2000.

This trend suggests that despite ongoing inflation pressures in the US, investors continue to increase their allocation to equity assets rather than opting for a large-scale withdrawal from the stock market due to rising prices.

S&P 500 Rises 14% Year-to-Date as Retail Investors Remain Optimistic

Since the start of 2026, the US stock market has delivered a strong overall performance. The S&P 500 Index has repeatedly set new all-time highs, accumulating a gain of approximately 14% year-to-date at the time of reporting.

During this period, a large number of individual investors have continued to hold a bullish view on the stock market and have not noticeably reduced their investment enthusiasm despite persistent high inflation.

The sustained inflows into equity funds, which echo the repeated record highs of major stock indices, reflect that investors' risk appetite for US equities remains relatively strong.

However, fund inflows and rising stock prices do not mean that inflation has had no impact on the stock market whatsoever. At least judging from market performance so far this year, persistent high inflation has neither prevented the US stock market from rising nor reversed the trend of investors steadily increasing their holdings in equity funds.