Historical month-by-month and year-by-year returns
Based on 36 calendar years of monthly closes, starting 1991.
| Month | Average | Median | % Positive | Best | Worst |
|---|---|---|---|---|---|
| January | +3.7% | +1.0% | 51% | +120.8% | −39.5% |
| February | +8.7% | −2.1% | 43% | +358.9% | −21.3% |
| March | −4.3% | −0.4% | 46% | +23.9% | −59.0% |
| April | +1.4% | −1.1% | 46% | +39.8% | −18.8% |
| May | +5.3% | +2.2% | 61% | +117.1% | −28.7% |
| June | +0.7% | −0.7% | 44% | +46.9% | −29.4% |
| July | +5.7% | +3.6% | 67% | +51.6% | −22.5% |
| August | +2.3% | +4.1% | 57% | +30.7% | −34.0% |
| September | +2.3% | −0.7% | 46% | +29.1% | −26.2% |
| October | −0.1% | −4.7% | 40% | +31.8% | −21.7% |
| November | +4.6% | +0.7% | 54% | +60.0% | −19.9% |
| December | +4.3% | −0.3% | 46% | +67.2% | −29.4% |
| Year | Return |
|---|---|
| 2025 | +8.4% |
| 2024 | −18.9% |
| 2023 | +21.7% |
| 2022 | +14.2% |
| 2021 | +30.7% |
| 2020 | +28.7% |
| 2019 | +0.5% |
| 2018 | −0.7% |
| 2017 | +2.4% |
| 2016 | −32.4% |
| 2015 | +32.3% |
| 2014 | +49.1% |
| 2013 | +60.9% |
| 2012 | +208.6% |
| 2011 | +68.8% |
| 2010 | +35.8% |
| 2009 | +31.7% |
| 2008 | −24.0% |
| 2007 | +20.3% |
| 2006 | +26.2% |
| 2005 | +72.6% |
| 2004 | −37.4% |
| 2003 | −20.5% |
| 2002 | −34.3% |
| 2001 | −20.1% |
| 2000 | +176.6% |
| 1999 | +72.9% |
| 1998 | −13.9% |
| 1997 | −46.9% |
| 1996 | +26.5% |
| 1995 | +325.0% |
| 1994 | −80.6% |
| 1993 | +29.2% |
| 1992 | −33.8% |
These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.