S&P 500 Historical Returns by Year
Complete historical returns data for the S&P 500 index from 1926 to 2025. Includes annual returns, decade averages, rolling return statistics, and key investment insights.
Last updated: January 2026 | Data includes total returns with dividends reinvested
Key Statistics
Decade Averages
Average annualized returns by decade show significant variation based on economic conditions, inflation, and market cycles.
| Decade | Avg. Annual Return | Note |
|---|---|---|
| 2020s | +13.5% | (2020-2025 YTD) |
| 2010s | +13.6% | |
| 2000s | -0.9% | Lost decade |
| 1990s | +18.2% | |
| 1980s | +17.6% | |
| 1970s | +5.9% | |
| 1960s | +7.8% | |
| 1950s | +19.4% | |
| 1940s | +9.2% | |
| 1930s | -0.1% | Great Depression |
Rolling Return Statistics
Historical rolling returns demonstrate how longer holding periods significantly reduce volatility and increase the probability of positive returns.
| Holding Period | Best Return | Worst Return | % Positive |
|---|---|---|---|
| 1 Year | +52.6% | -43.8% | 73% |
| 5 Years | +28.6% | -12.5% | 88% |
| 10 Years | +19.4% | -1.4% | 94% |
| 15 Years | +18.9% | +0.6% | 100% |
| 20 Years | +17.9% | +6.4% | 100% |
Annual Returns (1970-2025)
Year-by-year S&P 500 total returns including dividends reinvested. Green indicates positive returns, red indicates negative returns.
| Year | Return | Note |
|---|---|---|
| 2025 | +8.2% | YTD through Jan |
| 2024 | +25.0% | |
| 2023 | +26.3% | |
| 2022 | -18.1% | Bear market |
| 2021 | +28.7% | |
| 2020 | +18.4% | COVID recovery |
| 2019 | +31.5% | |
| 2018 | -4.4% | |
| 2017 | +21.8% | |
| 2016 | +12.0% | |
| 2015 | +1.4% | |
| 2014 | +13.7% | |
| 2013 | +32.4% | |
| 2012 | +16.0% | |
| 2011 | +2.1% | |
| 2010 | +15.1% | |
| 2009 | +26.5% | GFC recovery |
| 2008 | -37.0% | Financial crisis |
| 2007 | +5.5% | |
| 2006 | +15.8% | |
| 2005 | +4.9% | |
| 2004 | +10.9% | |
| 2003 | +28.7% | |
| 2002 | -22.1% | Dot-com bust |
| 2001 | -11.9% | |
| 2000 | -9.1% | |
| 1999 | +21.0% | |
| 1998 | +28.6% | |
| 1997 | +33.4% | |
| 1996 | +23.0% | |
| 1995 | +37.6% | |
| 1994 | +1.3% | |
| 1993 | +10.1% | |
| 1992 | +7.6% | |
| 1991 | +30.5% | |
| 1990 | -3.1% | |
| 1989 | +31.7% | |
| 1988 | +16.6% | |
| 1987 | +5.3% | Black Monday |
| 1986 | +18.7% | |
| 1985 | +31.7% | |
| 1984 | +6.3% | |
| 1983 | +22.6% | |
| 1982 | +21.6% | |
| 1981 | -4.9% | |
| 1980 | +32.5% | |
| 1979 | +18.6% | |
| 1978 | +6.6% | |
| 1977 | -7.2% | |
| 1976 | +23.9% | |
| 1975 | +37.2% | |
| 1974 | -26.5% | Stagflation |
| 1973 | -14.7% | |
| 1972 | +19.0% | |
| 1971 | +14.3% | |
| 1970 | +4.0% |
Key Investment Insight
The S&P 500 has delivered positive returns in 73% of all calendar years since 1926. For investors with a 15+ year time horizon, 100% of historical rolling periods have been positive. This demonstrates the importance of long-term investing and staying invested through market volatility.
Frequently Asked Questions
What is the average annual return of the S&P 500?
The average annual return of the S&P 500 is approximately 10.5% when including dividends (total return), measured from 1926 to 2024. The nominal price return (excluding dividends) averages around 7.5%. These averages include periods of high inflation, making the inflation-adjusted (real) return closer to 7%.
How often does the S&P 500 have a positive year?
The S&P 500 has delivered positive returns in approximately 73% of all calendar years since 1926. This means roughly 3 out of every 4 years are positive for stock market investors. Over longer holding periods (10+ years), the probability of positive returns approaches 94-100%.
What was the worst year for the S&P 500?
The worst year for the S&P 500 was 1931 during the Great Depression, when the index lost 43.8%. More recently, 2008 saw a decline of 37% during the Global Financial Crisis, and 2022 experienced an 18.1% drop. These drawdowns highlight the importance of long-term investing horizons.
What was the best year for the S&P 500?
The best year for the S&P 500 was 1954, with a total return of 52.6%. Other exceptional years include 1958 (+43.4%), 1995 (+37.6%), and 1975 (+37.2%). Years following significant market downturns often produce above-average returns as markets recover.
What is the S&P 500 return over 10 years?
Over any rolling 10-year period in S&P 500 history, the average annualized return has been approximately 10%. The best 10-year period delivered 19.4% annualized returns, while the worst delivered -1.4% (which occurred during 1999-2008). Historically, 94% of all 10-year holding periods have been positive.
Should I invest in the S&P 500?
The S&P 500 has been one of the most reliable long-term investments, delivering an average 10.5% annual return over nearly a century. For investors with a 10+ year time horizon, the index has historically provided positive returns in 94% of cases. However, past performance does not guarantee future results, and investors should consider their personal risk tolerance and financial goals.
Related Research
Methodology & Data Sources
Returns shown are total returns including dividends reinvested. Historical data prior to 1957 uses the S&P 90 index (predecessor to S&P 500). Data sourced from Standard & Poor's, Federal Reserve, and academic research.
Disclaimer: Past performance does not guarantee future results. This information is for educational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor before making investment decisions.