Financial Behavior

Women produce measurably better investment returns than men — and feel significantly less confident doing it. The gap between performance and self-perception is the story.

Deep Research Report · 26 min read

How Women and Men Behave Differently with Money

Confidence, competence, risk, return — and the industry that got everything backwards. Women feel less financially confident yet produce 0.4–1.8% better annual investment returns. The structural wealth and debt headwinds, the participation gap, and the wealth-transfer collision now reshaping financial services.

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Preview · key findings to be expanded

Women

• Women's investment portfolios outperform men's by an average of 0.4–1.8 percentage points annually.
• Women trade ~45% less frequently than men, reducing fees and behavioral drag.
• Only 28% of women describe themselves as 'confident' investors, vs. 56% of men.
• Women hold an estimated $30T in financial assets globally — a number set to dominate wealth transfer through 2030.

Men

• Men trade ~45% more often than women, eroding returns through fees and timing errors.
• Men are ~2× more likely to describe themselves as 'confident' or 'expert' investors.
• Men are over-represented in concentrated single-stock and crypto holdings.
• Men are more likely to attempt market timing — and more likely to underperform a passive benchmark.

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Health-Seeking Behavior