S&P 500 in December
Since 1994, December has returned +1.0% on average (median +1.1%), and the S&P 500 has risen in 69% of Decembers — 6th of the 12 months by average. Total return, dividends reinvested, from SPY's month-end closes.
Every December since 1994 (total return)#
How December returns are spread#
32 Decembers since 1994, counted in 2% bins.
S&P 500 December returns by year#
| Year | Total return | Price return |
|---|---|---|
| 2025 | +0.1% | -0.2% |
| 2024 | -2.4% | -2.7% |
| 2023 | +4.6% | +4.1% |
| 2022 | -5.8% | -6.2% |
| 2021 | +4.6% | +4.3% |
| 2020 | +3.7% | +3.3% |
| 2019 | +2.9% | +2.4% |
| 2018 | -8.8% | -9.3% |
| 2017 | +1.2% | +0.7% |
| 2016 | +2.0% | +1.4% |
| 2015 | -1.7% | -2.3% |
| 2014 | -0.3% | -0.8% |
| 2013 | +2.6% | +2.0% |
| 2012 | +0.9% | +0.2% |
| 2011 | +1.0% | +0.4% |
| 2010 | +6.7% | +6.1% |
| 2009 | +1.9% | +1.4% |
| 2008 | +1.0% | +0.2% |
| 2007 | -1.1% | -1.6% |
| 2006 | +1.3% | +0.8% |
| 2005 | -0.2% | -0.7% |
| 2004 | +3.0% | +2.5% |
| 2003 | +5.0% | +4.5% |
| 2002 | -5.7% | -6.1% |
| 2001 | +0.6% | +0.2% |
| 2000 | -0.5% | -0.8% |
| 1999 | +5.7% | +5.5% |
| 1998 | +6.5% | +6.2% |
| 1997 | +1.9% | +1.5% |
| 1996 | -2.4% | -2.9% |
| 1995 | +1.6% | +0.9% |
| 1994 | +0.7% | -0.1% |
Methodology#
Each December is the return from the last close of the month before to the last close of December, from SPY's closes since 1994: total return over its dividend-adjusted closes, price return over its split-adjusted closes. The month in progress is as of the last close and moves with the tape during the session; it is shown beside the record and never averaged into it. Past performance does not predict future returns; not investment advice.
ChartRow is not affiliated with, sponsored by, or endorsed by S&P Dow Jones Indices LLC, S&P Global, Nasdaq, Inc., Robert Shiller, RSBB-I, LLC, or Yale University. "S&P 500®" and "Dow Jones®" are registered trademarks of S&P Dow Jones Indices LLC; "Nasdaq-100®" is a registered trademark of Nasdaq, Inc.; "CAPE®" is a registered trademark of RSBB-I, LLC. They are used here only to identify the indexes and series discussed. All index-related figures on this page are independently derived from public sources — SEC filings, the public Shiller S&P 500 monthly series, and our own computations — not from any index provider's data feed.
FAQ#
- Is December a good month for the S&P 500?
- Since 1994, December has returned +1.0% on average (total return, dividends reinvested) with a median of +1.1%, and the S&P 500 rose in 22 of 32 Decembers (69%). By average return it ranks 6th of the 12 months.
- What was the S&P 500's best and worst December?
- The best December since 1994 was 2010 (+6.7%), the worst 2018 (-8.8%).
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