Canada (EN)
Retirement plan trading remained steady throughout most of the first quarter of 2026, with a brief increase during March that included three above-normal1 trading days, according to the Alight Solutions 401(k) Index™. Participant transfers showed a preference for fixed investments overall, which received 54% of inflows, while emerging markets stood out as the largest individual asset class inflow at 21%. Outflows were concentrated in large U.S. equities (72%) and company stock (17%).
First quarter observations:
- Net transfers for the quarter were 0.50% of balances.
- 37 out of 61 trading days in the fourth quarter had net trading dollars moving from equities to fixed income.
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Asset classes with most trading inflows in Q1 2026 | Percentage of inflows | Index dollar value ($mil) |
| Emerging markets | 21% | $234 |
| Stable value funds | 21% | $230 |
| Bond funds | 19% | $212 |
Asset classes with most trading outflows in Q1 2026 | Percentage of outflows | Index dollar value ($mil) |
| Large U.S. equity funds | 72% | $802 |
Company stock | 17% | $192 |
| Premixed funds | 9% | $96 |
Returns for common indices | Q1 2026 | 2026 YTD |
Bloomberg Barclays U.S. Aggregate Bond Index | -0.05% | -0.05% |
S&P 500 Index | -4.33% | -4.33% |
Russell 2000 Index | 0.89% | 0.89% |
MSCI All Country World ex-U.S. Index (net) | -0.71% | -0.71% |
1 A “normal” level of relative transfer activity is when the net daily movement of participants’ balances, as a percent of total 401(k) balances within the Alight Solutions 401(k) Index™, equals between 0.3 times and 1.5 times the average daily net activity of the preceding 12 months. A “high” relative transfer activity day is when the net daily movement exceeds two times the average daily net activity. A “moderate” relative transfer activity day is when the net daily movement is between 1.5 and 2 times the average daily net activity of the preceding 12 months.
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