S&P 500 in May
Since 1994, May has returned +1.2% on average (median +1.6%), and the S&P 500 has risen in 70% of Mays — 5th of the 12 months by average. Total return, dividends reinvested, from SPY's month-end closes.
May 2026: +5.3% — 5th of 33 Mays since 1994.
Every May since 1994 (total return)#
How May returns are spread#
33 Mays since 1994, counted in 2% bins; the blue line is May 2026.
S&P 500 May returns by year#
| Year | Total return | Price return |
|---|---|---|
| 2026 | +5.3% | +5.3% |
| 2025 | +6.3% | +6.3% |
| 2024 | +5.1% | +5.1% |
| 2023 | +0.5% | +0.5% |
| 2022 | +0.2% | +0.2% |
| 2021 | +0.7% | +0.7% |
| 2020 | +4.8% | +4.8% |
| 2019 | -6.4% | -6.4% |
| 2018 | +2.4% | +2.4% |
| 2017 | +1.4% | +1.4% |
| 2016 | +1.7% | +1.7% |
| 2015 | +1.3% | +1.3% |
| 2014 | +2.3% | +2.3% |
| 2013 | +2.4% | +2.4% |
| 2012 | -6.0% | -6.0% |
| 2011 | -1.1% | -1.1% |
| 2010 | -7.9% | -7.9% |
| 2009 | +5.8% | +5.8% |
| 2008 | +1.5% | +1.5% |
| 2007 | +3.4% | +3.4% |
| 2006 | -3.0% | -3.0% |
| 2005 | +3.2% | +3.2% |
| 2004 | +1.7% | +1.7% |
| 2003 | +5.5% | +5.5% |
| 2002 | -0.6% | -0.6% |
| 2001 | -0.6% | -0.6% |
| 2000 | -1.6% | -1.6% |
| 1999 | -2.3% | -2.3% |
| 1998 | -2.1% | -2.1% |
| 1997 | +6.3% | +6.3% |
| 1996 | +2.3% | +2.3% |
| 1995 | +4.0% | +4.0% |
| 1994 | +1.6% | +1.6% |
Methodology#
Each May is the return from the last close of the month before to the last close of May, 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 May a good month for the S&P 500?
- Since 1994, May has returned +1.2% on average (total return, dividends reinvested) with a median of +1.6%, and the S&P 500 rose in 23 of 33 Mays (70%). By average return it ranks 5th of the 12 months.
- What was the S&P 500's best and worst May?
- The best May since 1994 was 1997 (+6.3%), the worst 2010 (-7.9%).
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