What is S&P 500's average annual return?

Since 1994, the S&P 500 (proxied by SPY, dividends reinvested) has returned about 10.5% a year (the compound annual growth rate) and an average calendar-year return of 12.1%.

What were S&P 500's best and worst years?

Over 1994–2026, the best year was 1995 (+37.3%) and the worst was 2008 (-36.8%).

How often is S&P 500 up in a year?

25 of the 32 full years since 1994 were positive — about 78% of the time.

S&P 500

proxied by SPY — SPDR S&P 500 ETF Trust

$739.02+$0.09 (+0.01%)as of market close, Jul 27, 2026

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S&P 500 returns by year

S&P 500 has returned +10.5% annually (CAGR) since 1994. Calendar-year, monthly and weekly total returns for the S&P 500 (proxied by SPY, dividends reinvested) below, through July 27, 2026 — the most recent year is year-to-date.

Annualized (CAGR)

+10.5%

1994–2026

Average year

+12.1%

32 full years

Best year

+37.3%

1995

Worst year

-36.8%

2008

Positive years

25/32

78% up

S&P 500 returns by year (1994–2026)#

Calendar-year returns with each year's path and its dividend contribution (dividend return = total minus price return).

S&P 500 annual returns by year
Year	Start price	End price	Dividend	Total return
2026YTD	$681.92	$739.02	+0.3%	+8.7%
2025	$586.08	$681.92	+1.4%	+17.7%
2024	$475.31	$586.08	+1.6%	+24.9%
2023	$382.43	$475.31	+1.9%	+26.2%
2022	$474.96	$382.43	+1.3%	-18.2%
2021	$373.88	$474.96	+1.7%	+28.7%
2020	$321.86	$373.88	+2.2%	+18.3%
2019	$249.92	$321.86	+2.4%	+31.2%
2018	$266.86	$249.92	+1.8%	-4.6%
2017	$223.53	$266.86	+2.3%	+21.7%
2016	$203.87	$223.53	+2.3%	+12.0%
2015	$205.54	$203.87	+2.0%	+1.2%
2014	$184.69	$205.54	+2.2%	+13.5%
2013	$142.41	$184.69	+2.6%	+32.3%
2012	$125.50	$142.41	+1.9%	+15.4%
2011	$125.75	$125.50	+2.1%	+1.9%
2010	$111.44	$125.75	+2.2%	+15.0%
2009	$90.24	$111.44	+2.8%	+26.3%
2008	$146.21	$90.24	+1.5%	-36.8%
2007	$141.62	$146.21	+1.9%	+5.1%
2006	$124.51	$141.62	+2.1%	+15.8%
2005	$120.87	$124.51	+1.3%	+4.3%
2004	$111.28	$120.87	+2.1%	+10.7%
2003	$88.23	$111.28	+2.0%	+28.2%
2002	$114.30	$88.23	+1.2%	-21.6%
2001	$131.19	$114.30	+1.1%	-11.8%
2000	$146.88	$131.19	+0.9%	-9.7%
1999	$123.31	$146.88	+1.3%	+20.4%
1998	$97.06	$123.31	+1.6%	+28.7%
1997	$73.84	$97.06	+2.0%	+33.5%
1996	$61.48	$73.84	+2.4%	+22.5%
1995	$45.56	$61.48	+2.3%	+37.3%
1994	$46.59	$45.56	+0.0%	-2.2%

Total return by period

-30%-20%-10%+0%+10%+20%+30%

'94'97'00'03'06'09'12'15'18'21'24

Methodology#

Returns are total returns (dividends reinvested), computed from SPY's split- and dividend-adjusted closes — a standard proxy for the S&P 500. The bar chart switches between annual and monthly periods. Annualized return is the compound annual growth rate over the full period. The current year is year-to-date. See also the periodic table of returns. Past performance does not predict future returns; not investment advice.

See also: S&P 500 · Nasdaq-100 · Dow Jones · Russell 2000 · US Bond Market · Gold · Silver · Bitcoin · Ethereum

FAQ

What is S&P 500's average annual return?: Since 1994, the S&P 500 (proxied by SPY, dividends reinvested) has returned about 10.5% a year (the compound annual growth rate) and an average calendar-year return of 12.1%.
What were S&P 500's best and worst years?: Over 1994–2026, the best year was 1995 (+37.3%) and the worst was 2008 (-36.8%).
How often is S&P 500 up in a year?: 25 of the 32 full years since 1994 were positive — about 78% of the time.