A complete look at the S&P 500's annual performance history from 1928 through 2026. Data includes both price appreciation and reinvested dividends (total return).
| Year | Total Return (With Dividends) |
|---|---|
| 2026 | N/A |
| 2025 | N/A |
| 2024 | +24.88% |
| 2023 | +26.06% |
| 2022 | -18.04% |
| 2021 | +28.47% |
| 2020 | +18.02% |
| 2019 | +31.21% |
| 2018 | -4.23% |
| 2017 | +21.61% |
| 2016 | +11.77% |
| 2015 | +1.38% |
| 2014 | +13.52% |
| 2013 | +32.15% |
| 2012 | +15.89% |
| 2011 | +2.10% |
| 2010 | +14.82% |
| 2009 | +25.94% |
| 2008 | -36.55% |
| 2007 | +5.48% |
| 2006 | +15.61% |
| 2005 | +4.83% |
| 2004 | +10.74% |
| 2003 | +28.36% |
| 2002 | -21.97% |
| 2001 | -11.85% |
| 2000 | -9.03% |
| 1999 | +20.89% |
| 1998 | +28.34% |
| 1997 | +33.10% |
| 1996 | +22.68% |
| 1995 | +37.20% |
| 1994 | +1.33% |
| 1993 | +9.97% |
| 1992 | +7.49% |
| 1991 | +30.23% |
| 1990 | -3.06% |
| 1989 | +31.48% |
| 1988 | +16.54% |
| 1987 | +5.81% |
| 1986 | +18.49% |
| 1985 | +31.24% |
| 1984 | +6.15% |
| 1983 | +22.34% |
| 1982 | +20.42% |
| 1981 | -4.70% |
| 1980 | +31.74% |
| 1979 | +18.52% |
| 1978 | +6.51% |
| 1977 | -6.98% |
| 1976 | +23.83% |
| 1975 | +37.00% |
| 1974 | -25.90% |
| 1973 | -14.31% |
| 1972 | +18.76% |
| 1971 | +14.22% |
| 1970 | +3.56% |
| 1969 | -8.24% |
| 1968 | +10.81% |
| 1967 | +23.80% |
| 1966 | -9.97% |
| 1965 | +12.40% |
| 1964 | +16.42% |
| 1963 | +22.61% |
| 1962 | -8.81% |
| 1961 | +26.64% |
| 1960 | +0.34% |
| 1959 | +12.06% |
| 1958 | +43.72% |
| 1957 | -10.46% |
| 1956 | +7.44% |
| 1955 | +32.60% |
| 1954 | +52.56% |
| 1953 | -1.21% |
| 1952 | +18.15% |
| 1951 | +23.68% |
| 1950 | +30.81% |
| 1949 | +18.30% |
| 1948 | +5.70% |
| 1947 | +5.20% |
| 1946 | -8.43% |
| 1945 | +35.82% |
| 1944 | +19.03% |
| 1943 | +25.06% |
| 1942 | +19.17% |
| 1941 | -12.77% |
| 1940 | -10.67% |
| 1939 | -1.10% |
| 1938 | +29.28% |
| 1937 | -35.34% |
| 1936 | +31.94% |
| 1935 | +46.74% |
| 1934 | -1.19% |
| 1933 | +49.98% |
| 1932 | -8.64% |
| 1931 | -43.84% |
| 1930 | -25.12% |
| 1929 | -8.30% |
| 1928 | +43.81% |
The stock market, as measured by the S&P 500, has generated positive returns in roughly 73% of years since 1928. Returns vary widely by year, ranging from gains of over 50% to losses of over 40%.
The historical average annual return for the S&P 500 from 1928 to 2024 is approximately 11.9%. However, the median return is higher, at around 15.2%, because a few very bad years drag the arithmetic average down.
Our complete S&P 500 yearly performance history table provides the total return (including dividends) for every year from 1928 to the present day, allowing you to track historical trends across nearly a century of market data.
While short-term returns are highly volatile, the long-term average stock market return per year is historically around 10-12% before inflation, assuming dividends are reinvested.
Historically, the stock market goes down about 1 out of every 4 years. From 1928 to 2024, the S&P 500 recorded negative annual returns in 26 out of 97 years.
Market data sourced from S&P Global, Federal Reserve Economic Data (FRED), and historical datasets maintained by academic researchers. Returns include both price appreciation and reinvested dividends unless otherwise noted.
Westmount Fundamentals. "Stock Market Returns by Year (1928–2026)." westmountfundamentals.com/stock-market-returns-by-year, 2026.