Historical month-by-month and year-by-year returns
Based on 41 calendar years of monthly closes, starting 1986.
| Month | Average | Median | % Positive | Best | Worst |
|---|---|---|---|---|---|
| January | +2.3% | +1.5% | 60% | +24.1% | −9.4% |
| February | −1.0% | +0.2% | 53% | +11.0% | −13.7% |
| March | +2.2% | +2.2% | 68% | +21.9% | −10.8% |
| April | +0.4% | −0.2% | 48% | +17.1% | −14.0% |
| May | −0.1% | +0.4% | 55% | +11.4% | −17.1% |
| June | +2.3% | +2.9% | 65% | +13.1% | −9.9% |
| July | −1.5% | −0.8% | 40% | +8.0% | −13.6% |
| August | 0.0% | +0.9% | 51% | +17.5% | −15.3% |
| September | +0.8% | +2.8% | 67% | +28.8% | −44.1% |
| October | +1.2% | +0.3% | 51% | +26.6% | −12.2% |
| November | +2.0% | +1.2% | 67% | +30.3% | −7.4% |
| December | +0.5% | +1.3% | 55% | +14.3% | −15.7% |
| Year | Return |
|---|---|
| 2025 | +35.4% |
| 2024 | +30.6% |
| 2023 | −29.1% |
| 2022 | −8.2% |
| 2021 | −15.8% |
| 2020 | +7.5% |
| 2019 | −5.8% |
| 2018 | −15.0% |
| 2017 | +40.8% |
| 2016 | +18.7% |
| 2015 | −19.7% |
| 2014 | +11.2% |
| 2013 | −7.1% |
| 2012 | +16.4% |
| 2011 | −13.0% |
| 2010 | +16.5% |
| 2009 | +51.5% |
| 2008 | −43.4% |
| 2007 | +16.7% |
| 2006 | +27.6% |
| 2005 | +14.8% |
| 2004 | +3.3% |
| 2003 | +43.5% |
| 2002 | −13.7% |
| 2001 | −33.4% |
| 2000 | +3.7% |
| 1999 | +63.4% |
| 1998 | +2.8% |
| 1997 | −30.5% |
| 1996 | +17.3% |
| 1995 | +54.7% |
| 1994 | −36.1% |
| 1993 | +99.7% |
| 1992 | +25.0% |
| 1991 | +41.9% |
| 1990 | +17.9% |
| 1989 | −10.5% |
| 1988 | +27.5% |
| 1987 | −5.6% |
These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.