- Confidence Gap: 78% of US retail investors are confident in their own investments, while only 52% are confident the broader US economy
- Investing discipline outweighs momentum trades as retail investors temper expectations for AI and the Magnificent 7
- Commodities now account for nearly a third (28%) of total retail portfolios, with nearly two-thirds of investors viewing gold as the preferred hedge against macro headwinds like inflation and weakening USD
March 25, 2026 – Despite uncertainty about the broader economy, US retail investors are highly confident in their personal investment strategies, according to the latest Retail Investor Beat survey from trading and investing platform eToro. The survey of 1,000 US retail investors revealed a divide between investors’ confidence in their own portfolios and their outlook for the US and global economy.
The Confidence Gap: Personal Resilience vs. Economic Skepticism
While more than three-quarters (78%) of investors report confidence in their own investments and the vast majority feel secure in their jobs, only about half are confident in the US economy and the global economy, uncovering a significant confidence gap between individual and macroeconomic sentiment.
Retail Investor Confidence Levels
- Confidence in Personal Investments: 78%
- Confidence in Job Security: 80%
- Confidence in the US Economy: 52%
- Confidence in the Global Economy: 46%
Commenting on the data, eToro US Investment Analyst, Bret Kenwell, said: “The gap between personal and domestic economic confidence suggests that investors believe their individual strategies, including the shift to real assets and defensive sectors, will protect them even if the broader economy stumbles. Further, retail investors have made an active effort to diversify their portfolios, providing them with a mix of offensive and defensive measures for various market environments.”
AI & “MAG 7” Optimism Cools, Retail Investors Take a More Measured View
Following multiple quarters of strong gains, enthusiasm for AI related stocks and the Magnificent 7 is cooling. 53% of retail investors believe prices for AI related stocks will rise in 2026, down from 64% a year ago. Similarly in Q1 2025, 48% of investors were confident that the so-called “Mag 7” would outperform the broader market in 2025, falling to 40% in Q1 2026.
Bret Kenwell added: “Mega-cap tech was an early leader in this bull market before that leadership and excitement eventually transitioned to AI. Now we’re seeing a more balanced mix of sector rotation and traditional assets leading the way, with retail investors once again actively tuning their portfolios for the market environment.”
The Great Rotation: Commodities and the Golden Hedge
Although financial services (58%) and technology (51%) remain the most held sectors, commodities are gaining significant ground, accounting for nearly a third (28%) of retail portfolios. Among those holding commodities, gold has emerged as the clear favorite:
Retail Investors Most Held Commodities
| Top Held Commodities | Percent of Retail Investors Holding |
| Gold | 63% |
| Silver | 38% |
| Oil | 36% |
| Natural Gas | 26% |
| Copper | 21% |
In response to macroeconomic concerns and the weakening US dollar, 23% of retail investors are planning to shift their allocations toward commodities or non-US stocks, while more than a third (35%) plan to increase gold allocations. Investors primarily view gold as a long-term store of value (33%), with 28% of holders citing its safe-haven appeal during volatility and roughly one-quarter using it as a direct hedge against inflation.
Bret Kenwell commented: “Even prior to the recent geopolitical turmoil, retail investors demonstrated a strong lean towards commodities, and gold in particular. The narrowing information gap between Main Street and Wall Street means that retail investors are now executing more sophisticated macro trades, like rotating into gold or non-US equities, as they consider other factors like currency swoons and central bank policy shifts.”
ENDS
Notes to editors
About this report
The latest Retail Investor Beat was based on a survey of 11,000 retail investors across 13 countries and 3 continents. The following countries had 1,000 respondents: UK, US, Germany, France, Australia, Singapore, Italy and Spain. The following countries had 600 respondents: Netherlands, Denmark, Poland, Romania, and the Czech Republic.
The survey was conducted from February 12, 2026 – February 27, 2026 and carried out by research company Opinium. Retail investors were defined as self-directed or advised and had to hold at least one investment product including shares, bonds, funds, investment ISAs or equivalent. They did not need to be eToro users.
The figures and results presented in this survey are based on the responses of participants at the time the survey was conducted. They reflect responders’ opinions, views and perceptions and should not be interpreted as investment advice or a guarantee of future performance. Percentages and results may not be representative of the broader population and are subject to change as market conditions and sentiment evolve.
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