The Isa season is ramping up and investors are off on a US shopping spree ahead of the April 5 deadline.
Global funds, US market trackers and smaller companies funds have dominated the best buy tables over the past month.
One peculiarity, noted by Hal Cook of Hargreaves Lansdown, is the lack of not just Chinese but wider Asian funds on his company's list, and also of European equities despite a recent rally.
Among individual stocks, chip maker Nvidia remains in heavy demand despite the shock arrival of Chinese competitor DeepSeek, say investing experts. Dan Coatsworth of AJ Bell says investors seem to be taking the view there is still a significant opportunity for Nvidia to grow earnings at a high rate.
So what are investors filling their Isas with this year? We asked four top DIY platforms to reveal the most popular active funds, trackers and ETFs, investments trusts and shares on their sites.
The best buy tables below were all based on customer data during the month to 19 February.
> Searching for a fund, trust or ETF? Find latest data on thousands of investments
US fans turn to smaller companies funds
Demand for US market exposure is evident across funds, trusts, and shares, according to Fidelity International's investment director Tom Stevenson.
'Technology giants like Nvidia, Advanced Micro Devices, Meta Platforms and Amazon featured prominently in individual share purchases, reflecting strong confidence in the continued dominance of US innovation,' he says.
Stevenson says many investors are still looking for simple, low-cost exposure to the US via a market tracker fund like UBS S&P 500 Index, but the appearance of Artemis and Brown Advisory's US smaller companies funds on the list below point to a desire to diversify away from the big tech stocks.
He notes that global diversification has also gained traction.
'Funds like the Legal & General Global Equity Index Fund and Dodge & Cox Worldwide Global Stock Fund offer investors access to balanced exposure across regions, enabling broader portfolio diversification.
'Investment trusts like Schroder Japan Trust highlight growing interest in regional opportunities outside of traditional markets, signalling a strategic approach to mitigating risk through geographic spread.'
Stevenson says investors remain interested in sustainable investments like renewable energy.
'The Greencoat UK Wind trust demonstrates the sustained appeal of sustainable infrastructure, despite a possible shift in the attitude to climate change, and investment in renewables, under the Trump administration.'
China and Europe are missing as investors focus on US
'Investors have been in bullish mood recently,' says Hal Cook, senior investment analyst at Hargreaves Lansdown.
He echoes the view that US, tech and global equities are most in favour, and highlights Nvidia's position at the top of the best selling shares list despite the emergence of potential rival DeepSeek in January.
'After the 17 per cent fall in Nvidia’s share price, it’s very possible that investors looked to take advantage of the volatility,' he adds.
Cook says the Artemis US Smaller Companies fund has been popular since Donald Trump won the US election in November, and the president's threat to impose tariffs on imports could mean domestically facing US companies are the place to be over the short to medium term.
He also notes Greencoat UK Wind's spot in the top investment trusts list, but Cook reckons this might be down to its bargain status - it has a yield of 9.26 per cent and a discount to net asset value of 26 per cent.
'It’s also interesting to think about what isn’t in these lists,' he says. 'There’s nothing linked to China, or indeed Asia more widely. Nor is there anything representing Europe, which is a bit of a surprise given the rally we’ve seen in European markets so far in 2025.
'And the UK is only seen within investment trusts and shares. It seems that investor appetite for the US continues to trump all other regions. And yes, the pun was intended.'
Rolls-Royce and IAG are UK market favourites
Investors have been lining their Isas with direct purchases of the 'Magnificent Seven' stocks - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla - says Richard Hunter, head of markets at Interactive Investor.
'Despite some untypical weakness across the sector given the DeepSeek threat, investors (and indeed the market generally) have shrugged off these concerns – at least for the moment.
'Nvidia shares lost over 13 per cent during the month of January, although remaining up by 100 per cent over the last year and indeed 550 per cent over the last two.
'Tesla has been boosted by the close relationship between its CEO Elon Musk and the new president, quite apart from the potential for its electric vehicles, and the shares have risen by 86 per cent over the last year.'
On the UK front, Hunter says Rolls-Royce and British Airways owner International Consolidated Airlines have become market favourites of late given their positive prospects in their respective sectors.
The best buy list also includes some income generators, due to the preference of older investors for yield in the twilight of their investing years, he suggests.
'The usual stalwart Legal & General (dividend yield currently 8.6 per cent) is joined by Taylor Wimpey (yield 8.5 per cent), the latter of which could also double as a recovery play with the shares having fallen by 21 per cent over the last year.'
Check our Shares A-Z: Find latest prices, yields, PE ratios and more
Trackers dominate, but investment trusts still popular
Investor buying choices suggest they started this year hoping for broad-based gains on equity markets or a third year in a row for tech sector strength, says AJ Bell investment analyst Dan Coatsworth.
'The top five most popular funds were all passive vehicles – index funds or ETFs tracking an index – which reinforces the view that more people are turning their back on active managers,' he says.
But he adds certain investors are still happy to lean on an expert in the hope of added gains, with investment trusts - universally actively managed - remaining popular.
'JPMorgan Global Growth & Income has been a firm favourite,' says Coatsworth. 'It is once again near the top of the most popular investment trusts list. Providing exposure to growing companies and with decent income offers the best of both worlds to investors.'
He says over five years the trust has returned 113 per cent versus 110 per cent from the US index.
'No other global equity income investment trust has kept pace with the S&P 500 over those five years, let alone come anywhere close. It’s no wonder that investors remain big fans.'
Coatsworth says Nvidia was the most popular share based on net buys on AJ Bell's platform over the past month.
'Having delivered stellar gains in 2023 and 2024 amid excitement around AI, investors buying shares in 2025 are taking the view there is still a significant opportunity for Nvidia to grow its earnings at a high rate.'
Compare the best DIY investing platforms and stocks & shares Isas
Investing online is simple, cheap and can be done from your computer, tablet or phone at a time and place that suits you.
When it comes to choosing a DIY investing platform, stocks & shares Isa or a general investing account, the range of options might seem overwhelming.
Every provider has a slightly different offering, charging more or less for trading or holding shares and giving access to a different range of stocks, funds and investment trusts.
When weighing up the right one for you, it's important to to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.
To help you compare the best investment accounts, we've crunched the facts and pulled together a comprehensive guide to choosing the best and cheapest investing account for you.
We highlight the main players in the table below but would advise doing your own research and considering the points in our full guide linked here.
>> This is Money's full guide to the best investing platforms and Isas
Platforms featured below are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.
| Admin charge | Charges notes | Fund dealing | Standard share, trust, ETF dealing | Regular investing | Dividend reinvestment | ||
|---|---|---|---|---|---|---|---|
| AJ Bell* | 0.25% | Max £3.50 per month for shares, trusts, ETFs. | £1.50 | £5 | £1.50 | £1.50 per deal | More details |
| Bestinvest* | 0.40% (0.2% for ready made portfolios) | Account fee cut to 0.2% for ready made investments | Free | £4.95 | Free for funds | Free for income funds | More details |
| Charles Stanley Direct* | 0.35% | No platform fee on shares if a trade in that month and annual max of £240 | Free | £11.50 | n/a | n/a | More details |
| Etoro* No investment funds or Sipp | Free | Stocks, investment trusts and ETFs. | Not available | Free | n/a | n/a | More details |
| Fidelity* | 0.35% on funds | £7.50 per month up to £25,000 or 0.35% with regular savings plan. | Free | £7.50 | Free funds £1.50 shares, trusts ETFs | £1.50 | More details |
| Freetrade* No investment funds | Basic account free, Standard with Isa £5.99, Plus £11.99 | Stocks, investment trusts and ETFs. | No funds | Free | n/a | n/a | More details |
| Hargreaves Lansdown* | 0.45% | Capped at £45 for shares, trusts, ETFs | Free | £11.95 | Free | Free | More details |
| Interactive Investor* | £4.99 per month under £50k, £11.99 above, £10 extra for Sipp | Free trade worth £3.99 per month (does not apply to £4.99 plan) | £3.99 | £3.99 | Free | £0.99 | More details |
| iWeb | Free | £5 | £5 | n/a | 2%, max £5 | More details | |
| Trading 212* | Free | Stocks, investment trusts and ETFs. | Not available | Free | n/a | Free | More details |
| Vanguard Only Vanguard's own products | 0.15% | Only Vanguard funds | Free | Free only Vanguard ETFs | Free | n/a | More details |
| (Source: ThisisMoney.co.uk Jan 2025. Admin % charge may be levied monthly or quarterly | |||||||
