Important information - the value of investments and the income from them, can go down as well as up, so you may get back less than you invest.

Private investors in Britain will be hoping that the current sell-off on Wall Street proves short lived: funds that invest largely in American stocks remained very popular among Fidelity’s ISA and SIPP customers over the first two months of the year. 

The popularity of US shares – often bought via funds described as ‘global’ but in practice heavily slanted towards America – repeated the pattern we saw in January, when global funds, alongside explicitly US portfolios, accounted for the majority of the top 10 most bought investments among both ISA and SIPP customers.  

Over the first two months of this year, five of the 10 most popular funds bought for ISAs and six of the top 10 bought for SIPPs were global funds, while a further two top-10 funds bought for ISAs and one for SIPPs invested exclusively in American shares. The remaining three funds in each case were cash funds. 

The global funds among the 10 most bought for ISAs had an average of 62.6% of their money in US shares, while the equivalent figure for the SIPP top 10 was 62.1%. The S&P 500 index of America’s largest listed companies has fallen by 5.3% so far this year. Please remember past performance is not a reliable indicator of future returns. 

Here in detail are the funds most bought by Fidelity customers between the beginning of January and the end of February. 

Global funds 

In the top spot for ISA customers and in second position for SIPPs was the Fidelity Index World Fund, which has 73.4% of its money in American stocks. The Legal & General Global Technology Index Trust, in third place for ISAs and fifth for SIPPs, has 86.3% of its money on Wall Street. By contrast, the Fidelity Global Dividend Fund, the fourth most popular fund among ISA investors and the sixth popular fund for SIPP savers, has a relatively modest 27% allocated to US shares.  

Rathbone Global Opportunities was the eighth most bought ISA fund but did not feature in the SIPP top 10. It has 68.5% exposure to the US. The Fidelity Global Technology Fund was in ninth position in the ISA top 10 but did not feature among SIPP funds; it has 58% of its money invested in American shares.  

Three global funds – Fidelity Multi Asset Allocator Growth, Vanguard LifeStrategy 80% Equity and Legal & General Global Equity Index – occupied the last three positions in the top 10 list for SIPPs but did not feature among the funds most bought for ISAs. Their respective exposures to the US are 64.3%, 52% and 69.3%. 

US funds 

In addition to the ‘global’ funds heavily exposed to the US, our clients bought a couple of funds exclusively dedicated to American stocks. These were the Fidelity Index US Fund (sixth place in the ISA top 10 and fourth place for SIPPs) and UBS S&P 500 Index Fund (seventh position in the ISA top 10).  

Cash funds 

The three cash funds to feature in each of the top 10 lists were the Fidelity Cash Fund (second place for ISAs and in the top spot for SIPPs), the Royal London Short Term Money Market Fund (fifth place for ISAs, third for SIPPs) and the Legal & General Cash Trust (10th place for ISAs, seventh for SIPPs).  

Top 10 best-selling ISA funds on Fidelity Personal Investing in 2025 

  1. Fidelity Index World Fund 
  2. Fidelity Cash Fund 
  3. Legal & General Global Technology Index Trust 
  4. Fidelity Global Dividend Fund 
  5. Royal London Short Term Money Market Fund 
  6. Fidelity Index US Fund 
  7. UBS S&P 500 Index Fund 
  8. Rathbone Global Opportunities Fund 
  9. Fidelity Global Technology Fund 
  10. Legal & General Cash Trust 

Top 10 best-selling SIPP funds on Fidelity Personal Investing in 2025 

  1. Fidelity Cash Fund 
  2. Fidelity Index World Fund 
  3. Royal London Short Term Money Market Fund 
  4. Fidelity Index US Fund 
  5. Legal & General Global Technology Index Trust 
  6. Fidelity Global Dividend Fund 
  7. Legal & General Cash Trust 
  8. Fidelity Multi Asset Allocator Growth Fund 
  9. Vanguard LifeStrategy 80% Equity Fund 
  10. Legal & General Global Equity Index Fund 

Source: Fidelity International. Gross ISA and SIPP sales from 1.1.25 to 28.2.25 for Personal Investors only. 

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Before investing into a fund, please read the relevant key information document which contains important information about the fund. Eligibility to invest in a SIPP or ISA and tax treatment depends on personal circumstances and all tax rules may change in the future. Withdrawals from a SIPP will not normally be possible until you reach age 55 (57 from 2028). Overseas investments will be affected by movements in currency exchange rates. Investments in emerging markets can be more volatile than other more developed markets. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. This information is not a personal recommendation for any particular investment.  If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. 

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