ETF ownership among non-advised UK investors is four times higher than it was six years ago, according to new research from Boring Money.

In 2020, just 5% of investors held an ETF, compared with 22% who held funds. Today, the two are level, with ETF holders and fund holders each accounting for 19% of investors, cementing ETFs’ place as one of the fastest-growing areas of retail investing.
 
Key findings:
 

  • 19% of non-advised investors now hold ETFs, up from 5% in 2020 

  • 41% cite diversification/suitability alongside other holdings as their main reason for holding ETFs; 38% cite simplicity; 29% cite lower cost

  • 27% of ETF holders have a Trading 212 account; 13% hold a Vanguard account

 

Why ETFs are winning

 
The findings point to a continuing growth story driven by strong platform promotion, effective marketing, and a perception among investors that ETFs are cheap, innovative and have a low barrier to entry.
 

When investors think about ETFs, these are the words they most commonly associate with them: 

  1. Popular

  1. Easy

  1. Growth

  1. Cheap

  1. Innovative

Among people who already hold ETFs, 41% cite diversification and suitability alongside other holdings as their main reason for holding, 38% cite simplicity and straightforwardness, and almost a third (29%) say ETFs are cheaper than other investment options.
 

Platforms driving ETF uptake
 

The findings also suggest investment platforms are playing an important role in ETF adoption, with large investment platforms actively promoting ETFs to their user base. Trading 212 and Vanguard emerged as the two platforms with the highest ETF ownership, at 27% and 13% respectively, followed by Hargreaves Lansdown at 12%.

Notably, the research suggests investors are rarely searching for “ETFs” by name. Instead, they tend to search for an investment idea or opportunity, with an ETF then surfaced to them as the relevant product. Recommendations from friends, financial advisers, and commentators also emerged as a strong driver of ETF uptake, trusted by 56% of ETF holders.
CEO of Boring Money, Holly Mackay, comments: “ETFs have gone from a niche pick to being the core staple of many DIY investors’ portfolios. The consumer perception of ETFs is that they are cheap, easy and straightforward, even if the mechanics are less well understood. This battle is being won on simplicity and cost rather than any more complex product features. Although ETF adoption locally doesn’t yet rival the US or some European countries, it’s a huge growth trend and one I expect to continue.”

Notes 

  1. Data from Boring Money’s ETF Report 2026: The drivers of growth

    1. Survey of 6,000 nationally representative UK adults, January 2026 (1,717 non-advised investors)
    2. Survey of 853 DIY platform investors, June 2026 
    3. Survey of 782 non-advised investors from Boring Money panel, June–July 2026
    4. Survey of 481 non-advised investors from Boring Money panel, July 2026 
    5. Test accounts with 40+ UK D2C investment platforms



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