For larger ETF investors, there are number of ultra-short-duration bond ETFs that can be used as cash alternatives. For instance, the PIMCO Enhanced Short Maturity ETF (NYSEArca: MINT) has a 0.33 year duration and a 0.73% 30-day SEC yield, and the Guggenheim Enhanced Short Duration Bond (NYSEArca: GSY) has a 0.23 year duration and a 1.17% 30-day SEC yield. [ETFs for Cash Hoarders]

Nevertheless, the Bank of America Merrill Lynch survey also found that investors remain broadly bullish on equities, with around 47% of respondents overweight but still down 7 percentage points month-over-month.

Additionally, investors remain bullish on some sectors, increasing exposure to energy, technology and banks. Those who are interested in tracking these sectors can choose from the many sector ETF options, including the Energy Select Sector SPDR (NYSEArca: XLE), Technology Select Sector SPDR (NYSEArca: XLK) and SPDR S&P Bank ETF (NYSEArca: KBE). [Customize Market Exposure with Sector ETFs]

For more information on the markets, visit our current affairs category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own shares of SPY.