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        ETF Market Outlook 2026

        Uncomfortably bullish

        The bull market enters 2026 with momentum. But valuations are stretched, and the global order is shifting in ways that could introduce new risks.

        Get our Outlook

        In 2026, we believe portfolios should be anchored by resilience, driven by innovation, and executed with precision.

        Sustaining momentum, strengthening resilience

        What’s driving the bull market forward? What’s challenging the rally? And how can investors reposition portfolios for the year ahead?

        What’s ahead

        Boost resilience with multi-asset and alternative strategies

        As shifts in policy, stubborn inflation, and rapid technological change reshape market dynamics, it’s time to rethink traditional portfolio allocations.

        Diversify differently

        Target AI and policy-led growth from US to emerging markets

        As AI powers large-cap growth companies and lifts emerging market sentiment, monetary easing and deregulation are creating opportunities in cyclical sectors like small caps and banks.

        Pursue growth

        Pursue bond upside with active short duration and credit

        Rising deficits, persistent inflation, and steepening yield curves demand active management across securitized assets, investment-grade corporates, and high yield.

        Go active

        Authors

        Bio Image of Michael W Arone

        Michael W Arone, CFA

        Chief Investment Strategist

        Read Full Bio
        Bio Image of Matthew J Bartolini

        Matthew J Bartolini, CFA, CAIA

        Global Head of Research

        Read Full Bio

        Contributor

        Bio Image of Anqi Dong

        Anqi Dong, CFA, CAIA

        Senior Research Strategist

        Read Full Bio

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        About our ETF Market Outlook

        In this Market Outlook by State Street Investment Management, learn what may be next for the economy and markets and where to look for future investment opportunities.

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