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 | +1.9% | +0.8% | 51% | +34.2% | −25.2% |
| February | −0.8% | −0.2% | 46% | +43.3% | −36.1% |
| March | −1.5% | −0.8% | 46% | +20.6% | −60.6% |
| April | +0.9% | −0.3% | 49% | +24.4% | −14.4% |
| May | +1.2% | +0.5% | 51% | +26.6% | −19.8% |
| June | +1.8% | +2.3% | 56% | +67.7% | −37.7% |
| July | −0.1% | −0.8% | 49% | +19.5% | −17.9% |
| August | −0.1% | +0.3% | 51% | +18.7% | −22.0% |
| September | +0.4% | +1.3% | 59% | +23.4% | −29.6% |
| October | 0.0% | +1.0% | 56% | +28.9% | −35.9% |
| November | +3.3% | +4.2% | 64% | +45.7% | −20.5% |
| December | +6.2% | +4.3% | 69% | +39.1% | −18.8% |
| Year | Return |
|---|---|
| 2025 | +22.6% |
| 2024 | +34.4% |
| 2023 | +130.0% |
| 2022 | −59.9% |
| 2021 | −7.1% |
| 2020 | −57.4% |
| 2019 | +3.1% |
| 2018 | −25.7% |
| 2017 | +27.5% |
| 2016 | −4.4% |
| 2015 | +20.2% |
| 2014 | +12.8% |
| 2013 | +9.2% |
| 2012 | +12.7% |
| 2011 | −29.2% |
| 2010 | +45.5% |
| 2009 | +30.3% |
| 2008 | −45.3% |
| 2007 | −9.3% |
| 2006 | −8.3% |
| 2005 | −7.2% |
| 2004 | +45.1% |
| 2003 | +59.2% |
| 2002 | −11.1% |
| 2001 | −8.9% |
| 2000 | −35.6% |
| 1999 | −0.4% |
| 1998 | +73.4% |
| 1997 | +67.8% |
| 1996 | +35.4% |
| 1995 | +14.7% |
| 1994 | −10.3% |
| 1993 | +44.7% |
| 1992 | +24.8% |
| 1991 | +85.8% |
| 1990 | −28.9% |
| 1989 | +28.2% |
| 1988 | +29.2% |
These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.