The S&P 500 slowdown has become pronounced, but purchases of All Country funds have reached approximately ¥1.2 trillion. We present the 30 most-purchased mutual funds during the four months of NISA in spring 2026.
As the S&P 500 slowdown comes under scrutiny, US-affiliated mutual funds have grown in popularity, and purchase activity has increased for funds including All Country (Orukan). The data represent the latest mutual fund rankings for spring 2026, focusing on trends during the four months covered by NISA allocations.
Among US equity funds, Nissay NASDAQ100 Index Fund and others received higher evaluations, with a succession of funds offering no purchase or redemption fees attracting particular attention. Meanwhile, Mitsubishi UFJ Pure Gold Fund, which ranked 12th last time, fell to 15th place, indicating changes in the performance of gold-related funds as well.
The newly launched Rakuten Gold Fund (unhedged) made its debut at 26th place. The number of accounts opened for the fund in Rakuten Securities' NISA growth investment quota ranked second, further raising interest in gold-related mutual funds.
Indian equities fell sharply in March, while gold prices at times moved inversely to the strengthening US dollar and safe-haven dollar buying. The report also presented analysis that movements in the US dollar are influencing gold prices.