Historical month-by-month and year-by-year returns
Based on 40 calendar years of monthly closes, starting 1987.
| Month | Average | Median | % Positive | Best | Worst |
|---|---|---|---|---|---|
| January | +0.7% | +1.2% | 54% | +11.2% | −11.2% |
| February | +1.0% | +1.0% | 59% | +16.4% | −12.3% |
| March | +0.4% | +1.1% | 67% | +8.7% | −21.9% |
| April | +1.2% | +0.8% | 59% | +15.3% | −10.0% |
| May | +1.4% | +2.1% | 67% | +11.0% | −7.9% |
| June | +0.8% | +0.6% | 64% | +8.6% | −8.4% |
| July | +0.4% | +1.3% | 56% | +10.4% | −15.2% |
| August | −0.3% | +1.5% | 53% | +7.4% | −19.5% |
| September | −0.4% | +0.6% | 58% | +12.3% | −13.6% |
| October | −0.5% | +1.8% | 56% | +15.0% | −30.8% |
| November | +2.2% | +3.0% | 69% | +18.3% | −12.0% |
| December | +2.4% | +2.6% | 77% | +12.1% | −12.0% |
| Year | Return |
|---|---|
| 2025 | +11.3% |
| 2024 | +10.0% |
| 2023 | +15.1% |
| 2022 | −21.6% |
| 2021 | +13.7% |
| 2020 | +18.4% |
| 2019 | +23.7% |
| 2018 | −12.2% |
| 2017 | +13.1% |
| 2016 | +19.5% |
| 2015 | −5.7% |
| 2014 | +3.5% |
| 2013 | +37.0% |
| 2012 | +14.6% |
| 2011 | −5.5% |
| 2010 | +25.3% |
| 2009 | +25.2% |
| 2008 | −34.8% |
| 2007 | −2.7% |
| 2006 | +17.0% |
| 2005 | +3.3% |
| 2004 | +17.0% |
| 2003 | +45.4% |
| 2002 | −21.6% |
| 2001 | +1.0% |
| 2000 | −4.2% |
| 1999 | +19.6% |
| 1998 | −3.4% |
| 1997 | +20.5% |
| 1996 | +14.8% |
| 1995 | +26.2% |
| 1994 | −3.2% |
| 1993 | +17.0% |
| 1992 | +16.4% |
| 1991 | +43.7% |
| 1990 | −21.5% |
| 1989 | +14.2% |
| 1988 | +22.4% |
These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.