text: The chart shows average net fund flows into equity funds and money market funds from 1992–2020 in presidential election years and the year directly after a presidential election. It also shows net fund flows into equity and money market funds from January 1, 2020, through September 30, 2020. Average net fund flows in presidential years are $40 billion for equity funds and $206 billion for money market funds; average net fund flows the year after an election are $168 billion for equity funds and $36 billion for money market funds. Net fund outflows in 2020 through September 30 were $283 billion for equity funds, while money market funds saw inflows of $757 billion. Source: Morningstar. Includes mutual funds and ETFs. Values based on USD. Equity funds include U.S. and international equity funds. 2020 is year-to-date through September 30, 2020.