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RESEARCH · INVESTOR SENTIMENT
Track individual investors’ outlook and institutional risk appetite with separate, source-based indicators. Compare how the two indicators change over time.
Weekly US individual-investor survey · six-month stock-market outlook
AAII participants volunteer to answer. This US sample is not representative of individual investors worldwide, and the sample size is not verified here. Missing survey weeks remain gaps.
Source · AAIIMonthly global institutional fund-flow indicator · observed risk appetite
State Street measures investment behaviour, not answers to a sentiment survey. It covers global asset allocation, not just S&P 500 equities. Reports are monthly; the publication date is later than the observation period.
Source · State StreetBoth series use 0–100 points, but measure different populations, questions and horizons. AAII is weekly; State Street is monthly. Missing observations are not filled or interpolated. A line connects available observations; it does not imply a daily reading.
Hover over or focus a point to see its date, score and source. The data table provides the same observations and links.
50: midpoint of each indicator’s own scale
| Date | Series | Normalised score · 0–100 | Bullish | Neutral | Bearish | Original value | Published | Source | Interpretation and limitations |
|---|---|---|---|---|---|---|---|---|---|
| Individual investors · AAII | 50.6 | 40.3% | 20.8% | 39% | — | 8 Oct 2026 | AAII | — | |
| Individual investors · AAII | 44.1 | 34.6% | 18.9% | 46.5% | — | 1 Oct 2026 | AAII | — | |
| Institutional investors · State Street | — | — | — | — | — | 9 Oct 2026 | State Street | September 2026: the official text prints +0.18, while the official chart shows a negative bar. Without a conclusive primary numeric reading, this point remains unscored. The last unambiguous reading is August, not September. | |
| Individual investors · AAII | 42.3 | 32.7% | 19.2% | 48.1% | — | 24 Sept 2026 | AAII | — | |
| Individual investors · AAII | 37.8 | 28.8% | 17.9% | 53.3% | — | 17 Sept 2026 | AAII | — | |
| Individual investors · AAII | 49.4 | 38% | 22.7% | 39.3% | — | 10 Sept 2026 | AAII | — | |
| Individual investors · AAII | 51.1 | 39.7% | 22.7% | 37.6% | — | 3 Sept 2026 | AAII | — | |
| Institutional investors · State Street | 68 | — | — | — | 0.360 | 9 Sept 2026 | State Street | The August release prints +0.36 to two decimal places. August 31 locates this monthly observation on the time axis; it is not an exact transaction date. | |
| Individual investors · AAII | 44.2 | 32.9% | 22.6% | 44.4% | — | 27 Aug 2026 | AAII | — | |
| Individual investors · AAII | 47.8 | 35.5% | 24.6% | 39.9% | — | 20 Aug 2026 | AAII | — | |
| Individual investors · AAII | 48.4 | 34.7% | 27.4% | 37.9% | — | 13 Aug 2026 | AAII | — | |
| Individual investors · AAII | 49.5 | 37% | 25% | 38% | — | 6 Aug 2026 | AAII | — | |
| Institutional investors · State Street | 59.1 | — | — | — | 0.182 | 10 Aug 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 44.5 | 31% | 26.9% | 42.1% | — | 30 Jul 2026 | AAII | — | |
| Individual investors · AAII | 43.7 | 29.6% | 28.1% | 42.3% | — | 23 Jul 2026 | AAII | — | |
| Individual investors · AAII | 56 | 44.9% | 22.2% | 32.9% | — | 16 Jul 2026 | AAII | — | |
| Individual investors · AAII | 49.6 | 36.3% | 26.5% | 37.2% | — | 9 Jul 2026 | AAII | — | |
| Individual investors · AAII | 44.6 | 31.4% | 26.4% | 42.3% | — | 2 Jul 2026 | AAII | — | |
| Institutional investors · State Street | 72.7 | — | — | — | 0.455 | 10 Jul 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 54.4 | 44.9% | 18.9% | 36.1% | — | 25 Jun 2026 | AAII | — | |
| Individual investors · AAII | 48.6 | 36.6% | 24.1% | 39.4% | — | 18 Jun 2026 | AAII | — | |
| Individual investors · AAII | 41.4 | 30.4% | 22% | 47.7% | — | 11 Jun 2026 | AAII | — | |
| Individual investors · AAII | 49.7 | 36.3% | 26.7% | 37% | — | 4 Jun 2026 | AAII | — | |
| Institutional investors · State Street | 54.5 | — | — | — | 0.091 | 10 Jun 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 46.9 | 35.6% | 22.6% | 41.9% | — | 28 May 2026 | AAII | — | |
| Individual investors · AAII | 44.1 | 31.7% | 24.7% | 43.6% | — | 21 May 2026 | AAII | — | |
| Individual investors · AAII | 51.3 | 39.3% | 24.1% | 36.6% | — | 14 May 2026 | AAII | — | |
| Individual investors · AAII | 52.7 | 38.3% | 28.7% | 33% | — | 7 May 2026 | AAII | The official table is used. The May 7 release narrative gives 33.3% bearish, but its table gives 33.0%; the three tabulated categories sum to 100%. | |
| Institutional investors · State Street | 77.3 | — | — | — | 0.545 | 8 May 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 49.2 | 38.1% | 22.2% | 39.7% | — | 30 Apr 2026 | AAII | — | |
| Individual investors · AAII | 55.8 | 46% | 19.5% | 34.4% | — | 23 Apr 2026 | AAII | — | |
| Individual investors · AAII | 44.5 | 31.7% | 25.5% | 42.8% | — | 16 Apr 2026 | AAII | — | |
| Individual investors · AAII | 46.4 | 35.7% | 21.3% | 43% | — | 9 Apr 2026 | AAII | — | |
| Individual investors · AAII | 41.1 | 33.6% | 15% | 51.4% | — | 2 Apr 2026 | AAII | — | |
| Institutional investors · State Street | 40.9 | — | — | — | -0.182 | 13 Apr 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 41.2 | 32.1% | 18.1% | 49.8% | — | 26 Mar 2026 | AAII | — | |
| Individual investors · AAII | 39.2 | 30.4% | 17.6% | 52% | — | 19 Mar 2026 | AAII | — | |
| Individual investors · AAII | 42.8 | 31.9% | 21.7% | 46.4% | — | 12 Mar 2026 | AAII | — | |
| Individual investors · AAII | 48.8 | 33.1% | 31.4% | 35.5% | — | 5 Mar 2026 | AAII | — | |
| Institutional investors · State Street | 63.6 | — | — | — | 0.273 | 10 Mar 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 46.7 | 33.2% | 27% | 39.8% | — | 26 Feb 2026 | AAII | — | |
| Individual investors · AAII | 48.8 | 34.5% | 28.5% | 36.9% | — | 19 Feb 2026 | AAII | — | |
| Individual investors · AAII | 50.2 | 38.5% | 23.3% | 38.1% | — | 12 Feb 2026 | AAII | — | |
| Individual investors · AAII | 55.4 | 39.7% | 31.3% | 29% | — | 5 Feb 2026 | AAII | — | |
| Institutional investors · State Street | 50 | — | — | — | 0.000 | 9 Feb 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 56.8 | 44.4% | 24.8% | 30.8% | — | 29 Jan 2026 | AAII | — | |
| Individual investors · AAII | 55.2 | 43.2% | 24.1% | 32.7% | — | 22 Jan 2026 | AAII | — | |
| Individual investors · AAII | 60.7 | 49.5% | 22.3% | 28.2% | — | 15 Jan 2026 | AAII | — | |
| Individual investors · AAII | 56.3 | 42.5% | 27.5% | 30% | — | 8 Jan 2026 | AAII | — | |
| Institutional investors · State Street | 68.2 | — | — | — | 0.364 | 12 Jan 2026 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 55.5 | 44.1% | 22.7% | 33.2% | — | 18 Dec 2025 | AAII | — | |
| Individual investors · AAII | 57 | 44.6% | 24.8% | 30.6% | — | 11 Dec 2025 | AAII | — | |
| Individual investors · AAII | 56.8 | 44.3% | 24.9% | 30.8% | — | 4 Dec 2025 | AAII | — | |
| Institutional investors · State Street | 45.5 | — | — | — | -0.091 | 9 Dec 2025 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 44.5 | 32.6% | 23.9% | 43.6% | — | 20 Nov 2025 | AAII | — | |
| Individual investors · AAII | 41.2 | 31.6% | 19.2% | 49.1% | — | 13 Nov 2025 | AAII | — | |
| Individual investors · AAII | 50.8 | 38% | 25.8% | 36.3% | — | 6 Nov 2025 | AAII | — | |
| Institutional investors · State Street | 50 | — | — | — | 0.000 | 10 Nov 2025 | State Street Source | Exact public State Street API reading for the last available trading day of the month, checked on October 10, 2026. The release link documents the month and publication date; the additional link opens the data portal. History may be revised and is not a point-in-time information dataset. | |
| Individual investors · AAII | 53.6 | 44% | 19.1% | 36.9% | — | 30 Oct 2025 | AAII | — | |
| Individual investors · AAII | 47.1 | 36.9% | 20.5% | 42.7% | — | 23 Oct 2025 | AAII | — | |
| Individual investors · AAII | 43.8 | 33.7% | 20.3% | 46.1% | — | 16 Oct 2025 | AAII | — | |
| Individual investors · AAII | 55.2 | 45.9% | 18.5% | 35.6% | — | 9 Oct 2025 | AAII | — | |
| Individual investors · AAII | 51.8 | 42.9% | 17.9% | 39.2% | — | 2 Oct 2025 | AAII | — |
AAII score = 100 × (bullish + 0.5 × neutral) ÷ (bullish + neutral + bearish). The denominator accounts for published rounding. It is an outlook score, not the percentage of bullish respondents.
Display score = 50 × (1 + State Street Risk Appetite Index). The original index ranges from −1 to +1, so zero maps to 50. It combines 22 risk components drawn from actual global institutional fund flows, excluding leveraged funds.
Both series use 0–100 points, but measure different populations, questions and horizons. AAII is weekly; State Street is monthly. Missing observations are not filled or interpolated. A line connects available observations; it does not imply a daily reading.