U.S. Stocks Break Records, Investors Stay the Course

Vanguard’s Investment Advisory Research Center examines what persistent U.S. equity highs mean for advisors and clients.

• In Q3 2025, U.S. equities hit record highs on one in every three trading days, far surpassing historical averages; balanced portfolios returned 7% YTD.

• Contrary to fears, investing at all-time highs hasn’t hurt long-term returns—five- and ten-year gains often match or exceed non-peak periods.

• The real story is improved investor discipline: advisors focusing on goals-based planning and behavioral coaching helped clients avoid emotional decisions.

Can advisors turn record-breaking markets into opportunities for stronger client relationships? Explore the full analysis for actionable insights.