Vanguard analyzes how over 5 million retail households actually invest, focusing on portfolio construction, trading behavior, and responses to market stress. The data suggests investors are more disciplined than expected, with limited trading even during volatility, though allocation gaps persist. Notably, 22% of investors still hold extremely high equity exposure.
How America Invests 2020
Vanguard
Research
58 Pages
Key Takeaways
Balanced Portfolio Reality: The average portfolio holds roughly 63% equities, 16% bonds, and 21% cash, yet 22% of households maintain portfolios with at least 98% equities.
Low Trading Behavior: Fewer than 25% of investors trade annually, and those who do typically execute only 2 trades while shifting about 20% of assets.
Age-Based Risk Shift: Younger investors allocate մոտ 90% to equities, while older cohorts reduce exposure to حوالي 60–66%, reflecting lifecycle-driven de-risking patterns.
Join our newsletter to have all of this content + Exclusive Newsletter Bonus Content delivered to your inbox every week
