Tables of S&P 500 Rolling Total Returns

1-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 15.6% 13.9%
1872 11.2% 8.7%
1873 -2.5% 2.0%
1874 4.7% 12.5%
1875 5.4% 11.8%
1876 -14.2% -14.9%
1877 -1.3% 16.9%
1878 16.3% 29.6%
1879 49.4% 23.8%
1880 26.7% 34.4%
1881 0.3% -7.2%
1882 3.6% 5.6%
1883 -5.5% 2.3%
1884 -12.4% -2.3%
1885 29.9% 34.6%
1886 11.9% 11.9%
1887 -0.6% -5.1%
1888 3.3% 8.2%
1889 7.1% 12.4%
1890 -6.2% -8.4%
1891 18.9% 26.5%
1892 6.2% -1.5%
1893 -18.8% -6.4%
1894 3.6% 8.0%
1895 5.0% 3.5%
1896 3.2% 6.3%
1897 20.4% 16.9%
1898 29.3% 27.4%
1899 3.7% -11.3%
1900 21.0% 23.9%
1901 19.5% 16.6%
1902 8.3% -1.2%
1903 -17.1% -13.3%
1904 32.1% 29.1%
1905 21.3% 21.3%
1906 0.7% -3.6%
1907 -24.2% -22.5%
1908 39.4% 35.1%
1909 16.2% 4.9%
1910 -3.4% 3.6%
1911 3.5% 4.7%
1912 7.2% -0.1%
1913 -4.7% -6.6%
1914 -5.5% -6.4%
1915 31.2% 27.4%
1916 8.2% -3.8%
1917 -18.5% -31.9%
1918 18.1% 0.2%
1919 19.6% 2.3%
1920 -14.0% -12.6%
1921 10.1% 23.8%
1922 29.1% 29.9%
1923 5.5% 2.4%
1924 27.1% 27.1%
1925 25.9% 21.7%
1926 11.6% 14.1%
1927 37.2% 38.7%
1928 47.6% 49.3%
1929 -9.4% -9.4%
1930 -22.7% -16.9%
1931 -44.3% -38.0%
1932 -6.2% 4.0%
1933 56.7% 53.1%
1934 -8.0% -10.7%
1935 55.0% 52.7%
1936 32.7% 29.9%
1937 -32.1% -32.6%
1938 17.3% 18.9%
1939 3.1% 3.8%
1940 -8.9% -10.2%
1941 -9.1% -18.3%
1942 21.6% 13.0%
1943 23.6% 20.1%
1944 19.7% 17.0%
1945 39.4% 36.3%
1946 -12.0% -25.5%
1947 2.6% -6.9%
1948 9.6% 8.2%
1949 17.6% 20.1%
1950 34.6% 24.5%
1951 21.9% 16.8%
1952 14.7% 14.3%
1953 3.0% 1.9%
1954 46.8% 47.9%
1955 28.9% 28.5%
1956 6.9% 3.8%
1957 -5.8% -9.1%
1958 40.4% 38.4%
1959 7.6% 6.5%
1960 6.5% 4.8%
1961 19.1% 18.3%
1962 -2.6% -3.9%
1963 21.2% 19.3%
1964 16.0% 14.9%
1965 11.6% 9.5%
1966 -6.4% -9.5%
1967 16.1% 12.0%
1968 10.6% 6.0%
1969 -8.5% -13.9%
1970 7.5% 2.1%
1971 14.0% 10.4%
1972 17.9% 13.7%
1973 -16.3% -23.5%
1974 -21.1% -29.4%
1975 39.2% 30.4%
1976 11.2% 5.7%
1977 -9.0% -14.8%
1978 16.3% 6.4%
1979 17.2% 2.9%
1980 26.1% 12.7%
1981 -7.2% -14.4%
1982 30.1% 25.5%
1983 20.4% 15.5%
1984 7.9% 4.3%
1985 26.4% 21.7%
1986 31.4% 29.5%
1987 -2.4% -6.2%
1988 18.0% 12.7%
1989 23.0% 16.9%
1990 -0.8% -6.1%
1991 32.0% 28.6%
1992 7.7% 4.3%
1993 11.7% 9.0%
1994 1.2% -1.6%
1995 35.3% 31.7%
1996 27.4% 23.6%
1997 27.9% 25.9%
1998 31.5% 29.4%
1999 15.6% 12.5%
2000 -5.2% -8.6%
2001 -13.5% -14.5%
2002 -20.1% -22.1%
2003 28.6% 26.2%
2004 6.1% 3.0%
2005 10.1% 5.9%
2006 13.4% 11.1%
2007 -1.4% -5.5%
2008 -35.6% -35.7%
2009 33.3% 29.8%
2010 16.4% 14.5%
2011 3.4% 0.5%
2012 16.2% 14.4%
2013 25.6% 23.7%
2014 13.5% 13.6%
2015 -3.4% -4.8%
2016 21.1% 18.2%
2017 25.0% 22.5%
2018 -4.7% -6.2%
2019 28.2% 25.0%
2020 17.9% 16.2%

Annualized Return Annualized Inflation-Adjusted Return
Median 11.2% 8.5%
Average 10.7% 8.5%
Standard Deviation 18.0% 17.9%

2-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 13.4% 11.3%
1872 4.2% 5.3%
1873 1.1% 7.2%
1874 5.0% 12.1%
1875 -4.9% -2.5%
1876 -8.0% -0.2%
1877 7.1% 23.1%
1878 31.8% 26.7%
1879 37.6% 29.0%
1880 12.7% 11.7%
1881 1.9% -1.0%
1882 -1.0% 3.9%
1883 -9.0% 0.0%
1884 6.7% 14.7%
1885 20.6% 22.8%
1886 5.5% 3.0%
1887 1.3% 1.3%
1888 5.2% 10.3%
1889 0.2% 1.4%
1890 5.6% 7.6%
1891 12.3% 11.6%
1892 -7.2% -4.0%
1893 -8.3% 0.6%
1894 4.3% 5.7%
1895 4.1% 4.9%
1896 11.5% 11.5%
1897 24.8% 22.1%
1898 15.8% 6.3%
1899 12.0% 4.9%
1900 20.2% 20.2%
1901 13.7% 7.3%
1902 -5.2% -7.4%
1903 4.7% 5.8%
1904 26.6% 25.2%
1905 10.5% 8.1%
1906 -12.6% -13.6%
1907 2.8% 2.3%
1908 27.3% 19.0%
1909 6.0% 4.3%
1910 0.0% 4.1%
1911 5.3% 2.2%
1912 1.0% -3.5%
1913 -5.1% -6.5%
1914 11.4% 9.2%
1915 19.2% 10.7%
1916 -6.1% -19.1%
1917 -1.9% -17.4%
1918 18.8% 1.2%
1919 1.4% -5.5%
1920 -2.7% 4.0%
1921 19.2% 26.8%
1922 16.7% 15.3%
1923 15.8% 14.1%
1924 26.5% 24.4%
1925 18.5% 17.8%
1926 23.7% 25.8%
1927 42.3% 43.9%
1928 15.6% 16.3%
1929 -16.3% -13.2%
1930 -34.4% -28.2%
1931 -27.7% -19.7%
1932 21.2% 26.2%
1933 20.1% 16.9%
1934 19.4% 16.8%
1935 43.4% 40.8%
1936 -5.1% -6.4%
1937 -10.8% -10.4%
1938 9.9% 11.1%
1939 -3.1% -3.4%
1940 -9.0% -14.4%
1941 5.2% -4.0%
1942 22.6% 16.5%
1943 21.6% 18.5%
1944 29.2% 26.3%
1945 10.7% 0.7%
1946 -5.0% -16.7%
1947 6.0% 0.4%
1948 13.5% 14.0%
1949 25.8% 22.3%
1950 28.1% 20.6%
1951 18.2% 15.5%
1952 8.7% 7.9%
1953 23.0% 22.8%
1954 37.6% 37.8%
1955 17.4% 15.5%
1956 0.3% -2.9%
1957 15.0% 12.2%
1958 22.9% 21.5%
1959 7.1% 5.6%
1960 12.6% 11.3%
1961 7.7% 6.6%
1962 8.7% 7.1%
1963 18.6% 17.1%
1964 13.8% 12.2%
1965 2.2% -0.5%
1966 4.3% 0.7%
1967 13.3% 9.0%
1968 0.6% -4.5%
1969 -0.8% -6.2%
1970 10.7% 6.2%
1971 15.9% 12.0%
1972 -0.7% -6.7%
1973 -18.7% -26.5%
1974 4.8% -4.0%
1975 24.4% 17.4%
1976 0.6% -5.1%
1977 2.9% -4.8%
1978 16.7% 4.6%
1979 21.5% 7.7%
1980 8.2% -1.8%
1981 9.9% 3.7%
1982 25.2% 20.4%
1983 14.0% 9.8%
1984 16.8% 12.6%
1985 28.9% 25.5%
1986 13.3% 10.2%
1987 7.3% 2.8%
1988 20.5% 14.8%
1989 10.4% 4.8%
1990 14.4% 9.9%
1991 19.2% 15.8%
1992 9.7% 6.6%
1993 6.3% 3.5%
1994 17.0% 13.9%
1995 31.3% 27.6%
1996 27.6% 24.8%
1997 29.7% 27.6%
1998 23.3% 20.6%
1999 4.7% 1.4%
2000 -9.4% -11.6%
2001 -16.9% -18.4%
2002 1.3% -0.9%
2003 16.8% 14.0%
2004 8.1% 4.5%
2005 11.8% 8.5%
2006 5.7% 2.5%
2007 -20.3% -22.0%
2008 -7.4% -8.6%
2009 24.5% 21.9%
2010 9.7% 7.3%
2011 9.6% 7.2%
2012 20.8% 18.9%
2013 19.4% 18.5%
2014 4.7% 4.0%
2015 8.1% 6.1%
2016 23.0% 20.3%
2017 9.1% 7.2%
2018 10.5% 8.3%
2019 22.9% 20.6%

Annualized Return Annualized Inflation-Adjusted Return
Median 9.9% 7.3%
Average 10.0% 7.7%
Standard Deviation 13.1% 12.9%

3-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 7.9% 8.1%
1872 4.3% 7.7%
1873 2.5% 8.7%
1874 -1.8% 2.3%
1875 -3.7% 3.6%
1876 -0.5% 8.9%
1877 19.7% 23.3%
1878 30.1% 29.2%
1879 23.8% 15.6%
1880 9.6% 9.6%
1881 -0.6% 0.1%
1882 -5.0% 1.8%
1883 2.5% 10.4%
1884 8.4% 13.8%
1885 13.1% 12.6%
1886 4.7% 4.7%
1887 3.2% 4.9%
1888 1.2% 3.7%
1889 6.1% 9.2%
1890 5.8% 4.5%
1891 0.8% 5.3%
1892 -3.7% -0.1%
1893 -4.1% 1.5%
1894 3.9% 5.9%
1895 9.3% 8.8%
1896 17.1% 16.6%
1897 17.3% 9.8%
1898 17.5% 11.9%
1899 14.4% 8.6%
1900 16.1% 12.6%
1901 2.4% 0.0%
1902 5.9% 3.4%
1903 9.9% 10.8%
1904 17.3% 14.7%
1905 -2.5% -3.2%
1906 2.1% 0.3%
1907 7.1% 3.2%
1908 16.1% 13.7%
1909 5.1% 4.4%
1910 2.3% 2.7%
1911 1.9% -0.8%
1912 -1.2% -4.4%
1913 5.7% 3.6%
1914 10.3% 4.7%
1915 5.0% -5.8%
1916 1.3% -13.1%
1917 4.8% -11.3%
1918 6.7% -3.6%
1919 4.2% 3.4%
1920 6.9% 12.0%
1921 14.4% 18.1%
1922 20.1% 19.1%
1923 19.1% 16.6%
1924 21.3% 20.8%
1925 24.4% 24.4%
1926 31.2% 33.2%
1927 22.4% 23.4%
1928 1.1% 4.0%
1929 -26.9% -22.4%
1930 -26.1% -18.8%
1931 -6.4% -0.4%
1932 10.6% 12.5%
1933 30.7% 27.8%
1934 23.7% 21.0%
1935 11.8% 10.2%
1936 1.9% 1.4%
1937 -6.4% -5.9%
1938 3.3% 3.5%
1939 -5.1% -8.7%
1940 0.3% -6.1%
1941 11.0% 3.5%
1942 21.6% 16.6%
1943 27.3% 24.2%
1944 13.6% 5.9%
1945 8.0% -1.9%
1946 -0.4% -9.1%
1947 9.8% 6.6%
1948 20.1% 17.4%
1949 24.5% 20.4%
1950 23.4% 18.5%
1951 12.9% 10.8%
1952 20.2% 19.9%
1953 24.9% 24.6%
1954 26.5% 25.4%
1955 9.1% 6.6%
1956 12.2% 9.3%
1957 12.5% 10.3%
1958 17.2% 15.6%
1959 11.0% 9.7%
1960 7.3% 6.0%
1961 12.0% 10.7%
1962 11.1% 9.6%
1963 16.2% 14.5%
1964 6.6% 4.4%
1965 6.7% 3.5%
1966 6.3% 2.4%
1967 5.5% 0.7%
1968 2.9% -2.3%
1969 3.9% -1.0%
1970 13.1% 8.6%
1971 4.0% -1.3%
1972 -8.0% -15.0%
1973 -2.7% -11.0%
1974 6.9% -0.9%
1975 12.1% 5.5%
1976 5.6% -1.4%
1977 7.4% -2.3%
1978 19.8% 7.3%
1979 11.1% -0.2%
1980 15.0% 6.6%
1981 13.3% 7.5%
1982 19.1% 14.8%
1983 18.0% 13.6%
1984 21.5% 18.0%
1985 17.5% 13.9%
1986 14.8% 11.1%
1987 12.3% 7.3%
1988 12.9% 7.3%
1989 17.2% 12.2%
1990 12.1% 8.0%
1991 16.7% 13.5%
1992 6.8% 3.8%
1993 15.2% 12.2%
1994 20.4% 17.0%
1995 30.2% 27.1%
1996 28.9% 26.3%
1997 24.8% 22.4%
1998 12.9% 10.0%
1999 -1.8% -4.2%
2000 -13.2% -15.3%
2001 -3.9% -5.6%
2002 2.9% 0.4%
2003 14.5% 11.2%
2004 9.8% 6.6%
2005 7.2% 3.6%
2006 -10.4% -12.2%
2007 -5.4% -7.6%
2008 -0.1% -1.5%
2009 17.1% 14.3%
2010 11.8% 9.6%
2011 14.7% 12.4%
2012 18.3% 17.1%
2013 11.2% 10.2%
2014 9.9% 8.5%
2015 13.5% 11.3%
2016 13.0% 10.7%
2017 15.1% 12.8%
2018 12.9% 10.9%

Annualized Return Annualized Inflation-Adjusted Return
Median 9.9% 7.3%
Average 10.0% 7.7%
Standard Deviation 13.1% 12.9%

5-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 6.7% 9.7%
1872 0.5% 3.5%
1873 -1.8% 5.0%
1874 1.7% 10.2%
1875 9.2% 12.3%
1876 13.3% 16.5%
1877 16.8% 18.5%
1878 18.0% 16.1%
1879 13.2% 10.8%
1880 1.7% 5.6%
1881 2.3% 5.7%
1882 4.5% 9.7%
1883 3.7% 7.4%
1884 5.5% 8.6%
1885 9.8% 11.7%
1886 2.9% 3.4%
1887 4.2% 6.0%
1888 5.5% 6.8%
1889 0.6% 3.7%
1890 -0.1% 2.9%
1891 2.2% 5.5%
1892 -0.7% 1.8%
1893 1.9% 5.4%
1894 11.8% 12.1%
1895 11.8% 7.8%
1896 15.0% 11.7%
1897 18.5% 13.8%
1898 16.0% 10.0%
1899 6.1% 1.9%
1900 11.4% 9.8%
1901 11.4% 9.4%
1902 7.7% 5.3%
1903 0.3% 0.3%
1904 11.3% 9.6%
1905 8.5% 5.1%
1906 3.6% 1.9%
1907 4.2% 3.6%
1908 11.7% 8.9%
1909 3.5% 1.2%
1910 -0.7% -1.1%
1911 5.6% 3.1%
1912 6.5% 1.4%
1913 0.8% -6.1%
1914 5.2% -4.8%
1915 10.3% -3.1%
1916 1.4% -10.1%
1917 1.7% -5.5%
1918 11.5% 7.6%
1919 9.1% 8.0%
1920 10.4% 12.8%
1921 19.1% 20.6%
1922 19.4% 18.6%
1923 20.9% 20.2%
1924 29.3% 29.6%
1925 20.8% 21.1%
1926 9.6% 12.2%
1927 -4.6% -0.7%
1928 -11.6% -6.2%
1929 -10.5% -5.8%
1930 -10.2% -6.0%
1931 3.2% 6.1%
1932 22.7% 23.0%
1933 15.0% 12.8%
1934 8.5% 7.3%
1935 11.0% 10.6%
1936 -0.1% -0.6%
1937 -7.4% -9.4%
1938 4.0% 0.5%
1939 5.1% 0.6%
1940 8.3% 3.1%
1941 17.9% 12.1%
1942 17.1% 10.0%
1943 13.2% 5.8%
1944 10.5% 3.7%
1945 10.1% 4.2%
1946 9.4% 2.3%
1947 16.8% 12.0%
1948 19.4% 16.7%
1949 17.9% 15.3%
1950 23.3% 20.2%
1951 22.2% 20.9%
1952 19.0% 18.1%
1953 14.4% 12.8%
1954 21.8% 19.9%
1955 14.4% 12.3%
1956 10.1% 7.8%
1957 12.6% 10.7%
1958 13.3% 11.9%
1959 10.0% 8.7%
1960 11.7% 10.3%
1961 12.7% 11.3%
1962 7.4% 5.5%
1963 11.3% 8.7%
1964 9.3% 6.2%
1965 4.2% 0.3%
1966 3.4% -1.1%
1967 7.6% 2.9%
1968 7.9% 3.2%
1969 2.0% -3.3%
1970 -0.9% -7.1%
1971 4.3% -2.4%
1972 3.8% -3.3%
1973 -1.4% -8.7%
1974 5.3% -2.5%
1975 13.9% 5.2%
1976 11.7% 2.1%
1977 7.7% -2.1%
1978 15.7% 5.8%
1979 16.5% 7.6%
1980 14.6% 7.8%
1981 14.7% 9.5%
1982 22.9% 19.0%
1983 16.1% 12.2%
1984 15.6% 11.7%
1985 18.7% 14.3%
1986 13.0% 8.5%
1987 13.1% 8.3%
1988 15.4% 10.7%
1989 14.1% 9.9%
1990 9.8% 6.2%
1991 16.8% 13.6%
1992 16.0% 12.7%
1993 20.0% 17.1%
1994 24.0% 21.2%
1995 27.4% 24.4%
1996 18.6% 15.7%
1997 9.8% 7.5%
1998 -0.1% -2.4%
1999 -0.5% -2.9%
2000 -2.2% -4.6%
2001 0.8% -1.7%
2002 6.4% 3.5%
2003 10.9% 7.6%
2004 -3.4% -5.9%
2005 1.1% -1.5%
2006 2.2% 0.1%
2007 0.4% -1.9%
2008 3.7% 1.9%
2009 18.5% 16.1%
2010 14.8% 13.1%
2011 10.6% 9.0%
2012 14.1% 12.6%
2013 15.8% 14.1%
2014 9.6% 8.0%
2015 12.3% 10.1%
2016 16.8% 14.6%

Annualized Return Annualized Inflation-Adjusted Return
Median 9.9% 7.6%
Average 9.4% 7.1%
Standard Deviation 7.8% 7.7%

10-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 9.9% 13.1%
1872 8.4% 10.8%
1873 7.6% 10.4%
1874 7.3% 10.5%
1875 5.4% 8.9%
1876 7.6% 11.0%
1877 10.5% 14.0%
1878 10.6% 11.7%
1879 9.3% 9.7%
1880 5.7% 8.6%
1881 2.6% 4.5%
1882 4.3% 7.8%
1883 4.6% 7.1%
1884 3.0% 6.1%
1885 4.8% 7.2%
1886 2.5% 4.4%
1887 1.7% 3.9%
1888 3.7% 6.1%
1889 6.0% 7.8%
1890 5.7% 5.3%
1891 8.4% 8.5%
1892 8.5% 7.7%
1893 8.7% 7.7%
1894 8.9% 6.9%
1895 11.6% 8.8%
1896 13.2% 10.5%
1897 12.9% 9.5%
1898 7.8% 5.1%
1899 8.7% 5.7%
1900 9.9% 7.5%
1901 7.5% 5.5%
1902 5.9% 4.4%
1903 5.8% 4.5%
1904 7.3% 5.3%
1905 3.8% 2.0%
1906 4.6% 2.5%
1907 5.4% 2.4%
1908 6.1% 1.1%
1909 4.4% -1.8%
1910 4.7% -2.1%
1911 3.5% -3.8%
1912 4.1% -2.1%
1913 6.1% 0.5%
1914 7.1% 1.4%
1915 10.4% 4.6%
1916 9.9% 4.1%
1917 10.2% 5.9%
1918 16.1% 13.7%
1919 18.7% 18.3%
1920 15.5% 16.9%
1921 14.3% 16.3%
1922 6.7% 8.5%
1923 3.4% 6.2%
1924 7.6% 10.5%
1925 4.1% 6.7%
1926 6.3% 9.1%
1927 8.2% 10.6%
1928 0.8% 2.9%
1929 -1.5% 0.5%
1930 -0.2% 1.9%
1931 1.5% 2.7%
1932 6.6% 5.6%
1933 9.4% 6.5%
1934 6.8% 3.9%
1935 9.7% 6.8%
1936 8.5% 5.6%
1937 4.1% -0.2%
1938 8.5% 3.1%
1939 7.8% 2.1%
1940 9.2% 3.6%
1941 13.6% 7.1%
1942 16.9% 11.0%
1943 16.3% 11.1%
1944 14.2% 9.3%
1945 16.5% 11.9%
1946 15.6% 11.2%
1947 17.9% 15.0%
1948 16.9% 14.7%
1949 19.8% 17.6%
1950 18.8% 16.2%
1951 16.0% 14.2%
1952 15.8% 14.3%
1953 13.9% 12.4%
1954 15.7% 14.2%
1955 13.1% 11.3%
1956 11.4% 9.5%
1957 10.0% 8.1%
1958 12.3% 10.3%
1959 9.6% 7.4%
1960 7.9% 5.2%
1961 8.0% 4.9%
1962 7.5% 4.2%
1963 9.6% 5.9%
1964 5.6% 1.3%
1965 1.6% -3.5%
1966 3.9% -1.8%
1967 5.7% -0.2%
1968 3.1% -2.9%
1969 3.7% -2.9%
1970 6.3% -1.1%
1971 8.0% -0.2%
1972 5.8% -2.7%
1973 6.8% -1.7%
1974 10.8% 2.4%
1975 14.3% 6.5%
1976 13.2% 5.8%
1977 15.1% 7.9%
1978 15.9% 9.0%
1979 16.1% 9.6%
1980 16.6% 11.0%
1981 13.9% 9.0%
1982 17.9% 13.5%
1983 15.7% 11.5%
1984 14.9% 10.8%
1985 14.1% 10.2%
1986 14.9% 11.0%
1987 14.6% 10.5%
1988 17.7% 13.8%
1989 19.0% 15.4%
1990 18.2% 15.0%
1991 17.7% 14.6%
1992 12.8% 10.1%
1993 9.5% 6.9%
1994 11.1% 8.5%
1995 11.6% 9.0%
1996 9.3% 6.6%
1997 8.1% 5.5%
1998 5.3% 2.5%
1999 -2.0% -4.4%
2000 -0.6% -3.0%
2001 1.5% -0.8%
2002 3.3% 0.8%
2003 7.3% 4.7%
2004 7.0% 4.5%
2005 7.7% 5.6%
2006 6.3% 4.4%
2007 7.0% 5.1%
2008 9.6% 7.8%
2009 14.0% 12.0%
2010 13.5% 11.6%
2011 13.7% 11.7%

Annualized Return Annualized Inflation-Adjusted Return
Median 8.5% 6.9%
Average 9.2% 6.9%
Standard Deviation 5.0% 5.1%

15-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 7.3% 10.5%
1872 7.1% 10.4%
1873 6.3% 9.4%
1874 6.7% 9.8%
1875 6.8% 9.8%
1876 6.0% 8.4%
1877 8.4% 11.3%
1878 8.9% 10.0%
1879 6.3% 7.7%
1880 3.7% 6.7%
1881 2.4% 4.8%
1882 2.6% 5.8%
1883 3.7% 6.5%
1884 5.9% 8.1%
1885 7.1% 7.4%
1886 6.6% 6.8%
1887 7.0% 7.1%
1888 7.6% 7.4%
1889 6.1% 5.8%
1890 7.6% 6.8%
1891 9.4% 8.8%
1892 8.2% 6.9%
1893 5.8% 5.2%
1894 9.7% 7.8%
1895 10.5% 7.6%
1896 9.9% 7.6%
1897 10.0% 7.5%
1898 9.1% 6.3%
1899 6.9% 4.2%
1900 6.2% 4.5%
1901 6.8% 4.7%
1902 6.1% 3.4%
1903 4.1% 0.8%
1904 6.6% 1.8%
1905 5.9% 0.3%
1906 3.5% -1.9%
1907 4.1% -0.3%
1908 7.9% 3.2%
1909 5.9% 1.3%
1910 6.5% 2.6%
1911 8.4% 3.8%
1912 9.0% 4.4%
1913 10.8% 6.7%
1914 14.1% 10.1%
1915 13.7% 9.8%
1916 9.8% 6.7%
1917 5.0% 3.6%
1918 6.0% 6.6%
1919 8.1% 9.7%
1920 6.2% 8.7%
1921 10.4% 12.8%
1922 11.8% 13.2%
1923 7.1% 8.3%
1924 7.9% 9.4%
1925 6.4% 8.0%
1926 4.1% 5.8%
1927 2.7% 3.5%
1928 1.9% 2.1%
1929 0.7% 0.6%
1930 2.6% 2.3%
1931 6.7% 5.7%
1932 10.0% 7.0%
1933 10.7% 6.3%
1934 8.0% 3.8%
1935 9.8% 5.9%
1936 8.8% 4.5%
1937 8.2% 3.7%
1938 12.0% 7.4%
1939 11.1% 6.3%
1940 13.7% 8.9%
1941 16.4% 11.5%
1942 17.6% 13.3%
1943 15.7% 11.7%
1944 16.6% 12.7%
1945 15.8% 12.0%
1946 13.8% 10.1%
1947 16.1% 13.5%
1948 15.7% 13.8%
1949 16.5% 14.5%
1950 16.4% 14.2%
1951 14.9% 13.2%
1952 12.9% 11.3%
1953 13.0% 11.1%
1954 13.5% 11.4%
1955 10.0% 7.5%
1956 8.7% 5.9%
1957 9.2% 6.3%
1958 10.8% 7.9%
1959 7.1% 3.7%
1960 4.9% 0.9%
1961 6.7% 2.4%
1962 6.3% 1.6%
1963 5.8% 0.8%
1964 5.5% 0.1%
1965 5.6% -0.7%
1966 6.4% -0.5%
1967 6.4% -0.9%
1968 7.2% -0.1%
1969 7.8% 0.5%
1970 9.0% 1.8%
1971 10.2% 3.0%
1972 11.2% 4.1%
1973 9.8% 2.7%
1974 12.4% 5.4%
1975 15.7% 9.0%
1976 13.1% 6.7%
1977 14.4% 8.1%
1978 15.7% 9.5%
1979 15.4% 9.7%
1980 14.3% 9.4%
1981 14.8% 10.5%
1982 17.3% 13.3%
1983 17.2% 13.3%
1984 17.8% 14.1%
1985 18.4% 14.7%
1986 16.1% 12.6%
1987 12.9% 9.5%
1988 11.4% 8.1%
1989 12.1% 9.0%
1990 11.0% 8.0%
1991 11.8% 8.9%
1992 10.6% 7.8%
1993 10.0% 7.1%
1994 6.0% 3.4%
1995 8.0% 5.4%
1996 6.9% 4.4%
1997 5.4% 3.0%
1998 4.8% 2.3%
1999 4.4% 2.0%
2000 4.3% 2.1%
2001 4.4% 2.3%
2002 6.8% 4.6%
2003 10.0% 7.8%
2004 7.9% 5.7%
2005 9.2% 7.0%
2006 9.7% 7.7%

Annualized Return Annualized Inflation-Adjusted Return
Median 8.3% 6.8%
Average 9.2% 6.7%
Standard Deviation 4.0% 3.9%

20-Year Returns

Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 6.2% 8.7%
1872 6.3% 9.3%
1873 6.1% 8.7%
1874 5.1% 8.3%
1875 5.1% 8.1%
1876 5.1% 7.6%
1877 6.0% 8.8%
1878 7.1% 8.8%
1879 7.7% 8.8%
1880 5.7% 7.0%
1881 5.5% 6.5%
1882 6.4% 7.7%
1883 6.6% 7.4%
1884 5.9% 6.5%
1885 8.1% 8.0%
1886 7.8% 7.4%
1887 7.2% 6.6%
1888 5.7% 5.6%
1889 7.3% 6.7%
1890 7.8% 6.4%
1891 7.9% 7.0%
1892 7.2% 6.0%
1893 7.2% 6.1%
1894 8.1% 6.1%
1895 7.6% 5.3%
1896 8.8% 6.4%
1897 9.1% 5.9%
1898 7.0% 3.1%
1899 6.5% 1.8%
1900 7.3% 2.6%
1901 5.4% 0.8%
1902 5.0% 1.1%
1903 5.9% 2.5%
1904 7.2% 3.3%
1905 7.0% 3.3%
1906 7.2% 3.3%
1907 7.8% 4.2%
1908 11.0% 7.2%
1909 11.3% 7.8%
1910 9.9% 7.0%
1911 8.7% 5.8%
1912 5.4% 3.1%
1913 4.7% 3.3%
1914 7.3% 5.9%
1915 7.2% 5.6%
1916 8.1% 6.6%
1917 9.2% 8.2%
1918 8.2% 8.1%
1919 8.2% 9.1%
1920 7.4% 9.2%
1921 7.7% 9.3%
1922 6.7% 7.1%
1923 6.3% 6.3%
1924 7.2% 7.2%
1925 6.9% 6.7%
1926 7.4% 7.3%
1927 6.1% 5.1%
1928 4.6% 3.0%
1929 3.1% 1.3%
1930 4.4% 2.8%
1931 7.4% 4.9%
1932 11.6% 8.3%
1933 12.8% 8.8%
1934 10.4% 6.6%
1935 13.0% 9.3%
1936 12.0% 8.4%
1937 10.8% 7.1%
1938 12.6% 8.8%
1939 13.6% 9.6%
1940 13.9% 9.7%
1941 14.8% 10.6%
1942 16.3% 12.6%
1943 15.1% 11.7%
1944 15.0% 11.7%
1945 14.8% 11.6%
1946 13.5% 10.4%
1947 13.9% 11.5%
1948 14.6% 12.5%
1949 14.6% 12.4%
1950 13.2% 10.5%
1951 11.9% 9.4%
1952 11.6% 9.1%
1953 11.7% 9.1%
1954 10.6% 7.6%
1955 7.2% 3.7%
1956 7.6% 3.7%
1957 7.8% 3.8%
1958 7.6% 3.5%
1959 6.6% 2.1%
1960 7.1% 2.0%
1961 8.0% 2.3%
1962 6.6% 0.7%
1963 8.2% 2.0%
1964 8.1% 1.9%
1965 7.8% 1.4%
1966 8.4% 1.9%
1967 10.3% 3.8%
1968 9.3% 2.9%
1969 9.7% 3.2%
1970 11.3% 4.8%
1971 10.9% 4.3%
1972 11.7% 5.1%
1973 11.2% 4.7%
1974 12.8% 6.5%
1975 14.2% 8.3%
1976 14.0% 8.4%
1977 14.8% 9.2%
1978 16.8% 11.4%
1979 17.5% 12.5%
1980 17.4% 13.0%
1981 15.8% 11.8%
1982 15.4% 11.8%
1983 12.6% 9.1%
1984 13.0% 9.6%
1985 12.9% 9.6%
1986 12.1% 8.8%
1987 11.3% 8.0%
1988 11.3% 8.0%
1989 8.0% 5.0%
1990 8.4% 5.6%
1991 9.3% 6.6%
1992 8.0% 5.3%
1993 8.4% 5.8%
1994 9.0% 6.5%
1995 9.6% 7.3%
1996 7.8% 5.5%
1997 7.5% 5.3%
1998 7.4% 5.1%
1999 5.7% 3.5%
2000 6.2% 4.0%
2001 7.4% 5.3%

Annualized Return Annualized Inflation-Adjusted Return
Median 8.0% 6.6%
Average 9.2% 6.6%
Standard Deviation 3.2% 3.0%

30-Year Returns

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Starting Year Annualized Return Annualized Inflation-Adjusted Return
1871 6.9% 8.7%
1872 7.1% 8.7%
1873 7.0% 8.4%
1874 6.4% 7.8%
1875 7.2% 8.3%
1876 7.7% 8.6%
1877 8.3% 9.1%
1878 7.3% 7.6%
1879 8.0% 7.7%
1880 7.1% 7.1%
1881 6.1% 6.2%
1882 6.2% 6.6%
1883 6.4% 6.4%
1884 6.4% 6.1%
1885 6.7% 6.0%
1886 6.7% 5.8%
1887 6.6% 5.2%
1888 5.9% 4.1%
1889 6.3% 3.8%
1890 6.7% 3.5%
1891 6.4% 3.3%
1892 6.2% 3.2%
1893 6.8% 4.2%
1894 7.8% 4.5%
1895 8.5% 5.1%
1896 9.2% 5.6%
1897 9.5% 5.9%
1898 9.9% 6.5%
1899 10.4% 7.1%
1900 9.9% 7.1%
1901 8.3% 5.7%
1902 5.6% 3.5%
1903 5.1% 3.7%
1904 7.3% 5.7%
1905 6.0% 4.4%
1906 6.9% 5.2%
1907 7.9% 6.2%
1908 7.5% 5.8%
1909 6.9% 5.3%
1910 6.5% 5.3%
1911 6.3% 4.8%
1912 5.8% 3.9%
1913 6.2% 4.3%
1914 7.2% 5.2%
1915 8.0% 6.0%
1916 8.2% 6.2%
1917 7.5% 5.3%
1918 8.3% 6.4%
1919 8.1% 6.7%
1920 8.0% 7.3%
1921 9.6% 8.6%
1922 10.0% 8.3%
1923 9.6% 7.9%
1924 9.5% 7.9%
1925 10.0% 8.4%
1926 10.1% 8.6%
1927 9.9% 8.3%
1928 8.6% 6.8%
1929 8.4% 6.5%
1930 9.0% 7.1%
1931 10.2% 7.9%
1932 13.0% 10.2%
1933 13.1% 10.0%
1934 12.2% 9.0%
1935 13.0% 10.0%
1936 11.8% 8.7%
1937 10.5% 7.4%
1938 12.5% 9.3%
1939 12.3% 8.9%
1940 11.9% 8.2%
1941 12.5% 8.6%
1942 13.3% 9.7%
1943 13.2% 9.8%
1944 11.7% 8.1%
1945 10.2% 6.3%
1946 10.2% 6.2%
1947 11.1% 7.4%
1948 10.6% 7.1%
1949 10.8% 7.0%
1950 10.8% 6.5%
1951 10.6% 6.1%
1952 9.6% 5.0%
1953 10.0% 5.4%
1954 10.6% 5.8%
1955 9.5% 4.6%
1956 9.4% 4.4%
1957 10.2% 5.2%
1958 10.3% 5.3%
1959 9.7% 4.6%
1960 10.2% 4.9%
1961 9.9% 4.5%
1962 10.3% 4.8%
1963 10.6% 5.1%
1964 10.3% 4.8%
1965 9.8% 4.2%
1966 10.5% 4.9%
1967 11.7% 6.0%
1968 12.0% 6.4%
1969 12.7% 7.1%
1970 13.6% 8.1%
1971 13.1% 7.7%
1972 12.1% 6.7%
1973 10.6% 5.4%
1974 12.2% 7.2%
1975 13.3% 8.5%
1976 12.4% 7.8%
1977 12.5% 8.0%
1978 12.8% 8.3%
1979 10.6% 6.5%
1980 11.1% 7.4%
1981 10.8% 7.4%
1982 11.2% 8.0%
1983 10.8% 7.7%
1984 10.9% 7.9%
1985 11.1% 8.2%
1986 10.1% 7.3%
1987 9.8% 7.0%
1988 10.7% 7.6%
1989 9.9% 7.3%
1990 10.1% 7.5%
1991 10.7% 8.3%

Annualized Return Annualized Inflation-Adjusted Return
Median 9.9% 6.7%
Average 9.4% 6.6%
Standard Deviation 2.2% 1.7%

Data Collection

All data was gathered from DQYDJ using a start month of January for each rolling period. Returns include dividend reinvestment.

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