Average Nasdaq Composite return

Over the last 10 years the Nasdaq Composite has returned +18.9% a year (CAGR) with dividends reinvested — +17.9% from price alone, and +15.2% after inflation. Since 2004 the annualized figure is +12.9%. Every standard window, through Oct 5, 2026:

Window	Since	Total return /yr	Price only /yr	Dividends /yr	After inflation /yr
1 year	Oct 6, 2025	+20.93%	+20.28%	+0.65%	+17.77%
3 years	Oct 6, 2023	+27.84%	+27.03%	+0.81%	+24.40%
5 years	Oct 5, 2021	+14.88%	+14.07%	+0.81%	+10.64%
10 years	Oct 5, 2016	+18.94%	+17.87%	+1.08%	+15.16%
15 years	Oct 6, 2011	+18.36%	+17.33%	+1.03%	+15.34%
20 years	Oct 5, 2006	+13.96%	+13.21%	+0.75%	+11.12%
23 years	Oct 6, 2003	+12.91%	+12.26%	+0.64%	+10.04%

Annualized (CAGR) from ONEQ daily closes at exact anniversary dates; inflation adjustment uses CPI (CPIAUCSL). The dividends column is the reinvested-dividend contribution — total return minus price return.

The years behind the average#

“Average” hides how lumpy the ride is: across 22 full calendar years, the market finished positive 82% of the time, with a best year of +45.7% (2023) and a worst of -40.2% (2008). The arithmetic mean of single years is +14.8% and the median +14.9% — but compounding through the crashes brings the realized annualized return to +12.9%. Almost no individual year lands near the average.