SIPP Index: Q4 2025 & Q1 2026
Our latest SIPP Index reveals how our very own SIPP investors are navigating today’s market. Discover the key trends and insights.
Important information: As investment values can go down as well as up, you may not get back all the money you invest. Currency changes affect international investments, and this can decrease their value in sterling. If you’re unsure if an investment account is right for you, please speak to an authorised financial adviser. Tax treatment depends on your individual circumstances and may be subject to change in the future. Please note images displayed are for illustrative purposes only.
What is the SIPP Index?
interactive investor has launched its latest iteration of its SIPP Index. The SIPP index is conducted twice a year, at the end of Q1 and the end of Q3, looking at the last 6 months of data – and analyses investment trends and behaviour in accumulation and drawdown.
The key findings
The pension landscape is shifting on several fronts. More of us are relying on defined contribution schemes to fund our retirement, the Finance Act 2026 has made its way through Parliament, meaning pensions will form part of inheritance tax calculations from April next year, and pension salary sacrifice contributions above £2,000 will face national insurance from April 2029.
During uncertain times, our latest index shows how SIPP customers are investing throughout their working life and into retirement.
Breaking down the portfolios
Passive funds remain popular with ii’s SIPP investors, with allocations to exchange-traded funds (ETFs) increasing for customers in accumulation and drawdown.
Customers also continued to favour funds, as the latest data reveals that funds occupy seven out of the top ten slots for regular investments.
SIPP holdings over time
| Holdings | Q1 2022 | Q1 2024 | Q1 2025 | Q3 2025 | Q1 2026 |
|---|---|---|---|---|---|
| Funds | 37.0% | 39.4% | 39.8% | 39.9% | 39.5% |
| Equity | 19.6% | 19.0% | 18.6% | 20.0% | 18.5% |
| Cash | 13.5% | 12.1% | 12.4% | 11.0% | 12.4% |
| ETFs | 9.0% | 12.1% | 14.1% | 15.8% | 17.6% |
| Investment trusts | 20.7% | 15.9% | 13.1% | 11.5% | 9.9% |
| Other | 0.2% | 1.5% | 2.0% | 1.8% | 2.1% |
| Holdings | Q1 2022 | Q1 2024 | Q1 2025 | Q3 2025 | Q1 2026 |
|---|---|---|---|---|---|
| Funds | 37.1% | 39.3% | 39.9% | 40.0% | 40.5% |
| Equity | 16.7% | 17.1% | 16.7% | 18.4% | 17.2% |
| Cash | 11.4% | 9.0% | 9.6% | 9.7% | 10.8% |
| ETFs | 6.5% | 9.5% | 11.4% | 12.3% | 13.4% |
| Investment trusts | 27.9% | 23.5% | 20.1% | 16.8% | 14.9% |
| Other | 0.4% | 1.6% | 2.3% | 2.8% | 3.3% |
Flexibility to invest your way
"At interactive investor we are agnostic in terms of how investors choose to invest, whether that be through funds, investment trusts, ETFs or for those who have more time and dedication – individual shares.
However, we feel that it is vital to provide investors with the full suite of options as at certain points of the investment journey investors may prefer to dial up or dial down exposure to certain types of investments."
Kyle Caldwell, Funds and Investment Education Editor
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Get in touch
If you would like to speak to one of our spokespeople or if you would like bespoke content from our expert writers, please contact:
Saffron Wainwright
PR Manager
Email: saffron.wainwright@ii.co.uk