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 | +2.8% | +0.8% | 51% | +51.9% | −22.5% |
| February | +1.7% | 0.0% | 49% | +38.5% | −20.9% |
| March | +1.2% | +1.0% | 59% | +35.7% | −32.8% |
| April | +1.2% | +1.6% | 56% | +28.4% | −21.9% |
| May | +1.8% | +0.9% | 51% | +24.1% | −15.3% |
| June | −0.6% | −0.5% | 44% | +25.4% | −18.6% |
| July | +3.8% | +3.4% | 62% | +50.0% | −20.1% |
| August | −1.6% | −0.2% | 48% | +15.0% | −20.3% |
| September | +1.6% | +0.2% | 50% | +31.8% | −20.0% |
| October | +3.0% | +6.2% | 67% | +21.9% | −50.4% |
| November | +3.8% | +0.7% | 54% | +25.7% | −21.2% |
| December | +4.3% | +5.0% | 67% | +49.5% | −17.0% |
| Year | Return |
|---|---|
| 2025 | +35.0% |
| 2024 | +7.6% |
| 2023 | −17.4% |
| 2022 | −1.0% |
| 2021 | +58.6% |
| 2020 | +11.5% |
| 2019 | +14.5% |
| 2018 | −19.2% |
| 2017 | +30.1% |
| 2016 | +19.9% |
| 2015 | +9.1% |
| 2014 | +16.1% |
| 2013 | +81.1% |
| 2012 | +27.5% |
| 2011 | −34.2% |
| 2010 | −9.1% |
| 2009 | +16.4% |
| 2008 | −36.7% |
| 2007 | +32.1% |
| 2006 | +31.8% |
| 2005 | +22.7% |
| 2004 | +1.0% |
| 2003 | +9.1% |
| 2002 | −29.9% |
| 2001 | −45.5% |
| 2000 | +11.3% |
| 1999 | +36.2% |
| 1998 | +101.0% |
| 1997 | +96.6% |
| 1996 | +59.0% |
| 1995 | +73.1% |
| 1994 | +7.7% |
| 1993 | +85.9% |
| 1992 | −14.0% |
| 1991 | +300.5% |
| 1990 | −18.0% |
| 1989 | +105.6% |
| 1988 | +12.5% |
These are historical patterns, not a forecast — past calendar-month performance does not predict future returns.