# 2026 Investment Outlook: Resilience and Rebalancing > Invesco's December 2025 outlook expects stocks to keep rising in 2026, noting global stocks gained 17.5% in 2025 through October on the MSCI World Index. Data as of Oct 21, 2026. Rebuilt every trading night. Published Dec 1, 2025 by Invesco. Summary by ETFIQ as of Oct 21, 2026. ## 2026 Investment Outlook: Resilience and Rebalancing Invesco's December 2025 outlook expects stocks to keep rising in 2026, noting global stocks gained 17.5% in 2025 through October on the MSCI World Index. Invesco · Issuer · Read the full paper at Invesco ↗ ### What it says Figures as stated by Invesco, Dec 1, 2025 - Invesco expects cheaper US borrowing and fiscal support from Europe, Japan and China to lift the global economy from what it calls a mid-cycle slowdown in 2026. (Invesco) - Invesco sees US stocks, especially AI-driven technology, as richly valued, and points to lower valuations in non-US markets, smaller companies and US cyclical sectors. (Invesco) - Invesco expects diverging central bank policies to weaken the US dollar, which it says would support emerging market assets in 2026. (Invesco) - Invesco expects private credit to do well if risk stays contained, growth improves, inflation holds steady and US monetary policy eases. (Invesco) ### The ETFIQ take ETFIQ data to Oct 20, 2026 · the 713 of 4,807 ETFs ETFIQ covers with a daily figure, Jan 2, 2026 to Oct 20, 2026 Invesco reports a 17.5% year-to-date return for the MSCI World Index through October 31, 2025. From Jan 2, 2026 to Oct 20, 2026, the ETFs ETFIQ can count had a net flow of +$461.8bn, with +$239.1bn for stock ETFs and +$177.3bn for bond ETFs. +$461.8bn net flow, Jan 2, 2026 to Oct 20, 2026, summed over the 713 of 4,807 ETFs ETFIQ covers with a daily figure , Oct 20, 2026. ETFIQ +$127.9bn net flow, Sep 21, 2026 to Oct 20, 2026, summed over the 746 of 4,807 ETFs ETFIQ covers with a daily figure , Oct 20, 2026. ETFIQ +$239.1bn net flow into stock ETFs, Jan 2, 2026 to Oct 20, 2026, over the 319 of 1,739 with a daily figure , Oct 20, 2026. ETFIQ +$177.3bn net flow into bond ETFs, Jan 2, 2026 to Oct 20, 2026, over the 184 of 833 with a daily figure , Oct 20, 2026. ETFIQ Paper: Global stocks and economies, outlook for 2026. ETFIQ: the 713 of 4,807 ETFs ETFIQ covers with a daily figure, Jan 2, 2026 to Oct 20, 2026. Net flow is the change in shares outstanding times the day’s NAV, summed over the days in the window, for the funds with a daily figure. The two sets and windows differ; the figures are stated, not reconciled. Method Data ### Related ETFs The largest ETFs ETFIQ covers, by net assets - VOO Vanguard S&P 500 ETF: +16.5% - IVV iShares Core S&P 500 ETF: +16.5% - SPY SPDR S&P 500 ETF Trust: +16.4% - VTI Vanguard Morningstar Total Stock Market ETF: +15.9% - QQQ Invesco QQQ Trust, Series 1: +19.2% - VUG Vanguard Morningstar Growth ETF: +11.2% Figure: total return, 1 year, to Oct 21, 2026, from each fund’s page. All 4,807 ETFs in the screener → ### Related papers State Street Investment Management · Issuer · Apr 22, 2026 · ETFIQ take #### Market Forecasts: Q2 2026 In its April 2026 forecasts, State Street Investment Management expects US economic growth of 2.3% in 2026, a slight cut tied to recent geopolitical events. Outlooks Bonds Read the paper ↗ First Trust · Issuer · Jan 7, 2026 · ETFIQ take #### Forecasts as of January 2026. In its January 2026 forecast, First Trust sets a year-end S&P 500 target of 6,000 and expects real GDP growth of 2% for 2026. Outlooks Read the paper ↗ UBS · Bank · Jan 6, 2026 · ETFIQ take #### CIO maintains a positive investment outlook for global equities UBS's January 2026 note keeps a positive view on global equities and sees around 10% upside by year-end for MSCI's All Country World index. Outlooks Themes Read the paper ↗ All 9 papers on outlooks → ### Questions people ask What does the Invesco paper conclude? Invesco's December 2025 outlook expects stocks to keep rising in 2026, noting global stocks gained 17.5% in 2025 through October on the MSCI World Index. The paper’s own words are at the link above. What does ETFIQ’s data show on the same question? From Jan 2, 2026 to Oct 20, 2026, the ETFs ETFIQ can count had a net flow of +$461.8bn, with +$239.1bn for stock ETFs and +$177.3bn for bond ETFs. ETFIQ states both figures and does not reconcile them. What do ETF flows show about an outlook? Where investors actually moved money over the same months: the net flow into stock and bond ETFs, dated, beside the paper’s forecast. Where can I read “2026 Investment Outlook: Resilience and Rebalancing”? On Invesco’s own site. ETFIQ summarizes the paper and does not host it. --- Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices. Cite: ETFIQ, 2026 Investment Outlook: Resilience and Rebalancing (Invesco), summary and ETFIQ take, as of Oct 21, 2026. https://etfiq.com/research/library/invesco-2026-investment-outlook-resilience-and-rebalancing/ Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms. HTML: https://etfiq.com/research/library/invesco-2026-investment-outlook-resilience-and-rebalancing/