‘Tech Is Back’: Fund Investors Recovered in April

Tech-led gains powered a broad April rally that reversed much of the first-quarter weakness: the average U.S. stock mutual fund/ETF returned 10.3% in April (LSEG), lifting U.S. funds to +6.8% year-to-date. Megacap leadership—notably Nvidia and Alphabet—drove the rotation back into big tech and pushed the sector to fresh record highs after a 115-day pause. Strength was not limited to the U.S.: international-stock funds rose about 6.9% in April (6.6% YTD). Investment-grade bond funds produced modest positive returns (+0.2% in April). The piece frames the move as earnings-driven and confidence-restoring amid reduced geopolitical tail risks, implying a generally bullish market impact for equity funds and tech-heavy indices.