S&P 500 average return by decade
Compare annualized S&P 500 total returns, with dividends reinvested, by decade from January 1930 through December 2024. Each row shows its exact period; the latest decade is incomplete. Long-term averages use the full stored series from 1928.
Where can I see S&P 500 yearly returns? This page groups annual returns into decade-level annualized figures. For a specific start year and a year-by-year historical result, use the S&P 500 historical return calculator through 2024.
The S&P 500's long-term historical nominal annual return—its annualized total return with dividends reinvested—from January 1928 through December 2024 was 9.9% nominal / 6.7% real. Among complete decades shown, nominal annualized returns ranged from -1.0% in the 2000s to 19.5% in the 1950s. These figures describe historical periods, not future returns.
Want to test a starting amount and time period? Use the S&P 500 calculator with your own assumptions.
Annualized returns by decade
Each complete decade runs from January of its first year through December of its last year. A partial row uses only the available calendar years, not a projection of the remaining decade.
| Decade | Nominal (annual) | Real (annual) | Period covered |
|---|---|---|---|
| 1930s | -0.9% | 1.1% | Jan 1930–Dec 1939 · 10 calendar years |
| 1940s | 8.5% | 2.8% | Jan 1940–Dec 1949 · 10 calendar years |
| 1950s | 19.5% | 17.1% | Jan 1950–Dec 1959 · 10 calendar years |
| 1960s | 7.7% | 5.3% | Jan 1960–Dec 1969 · 10 calendar years |
| 1970s | 5.9% | -1.1% | Jan 1970–Dec 1979 · 10 calendar years |
| 1980s | 17.3% | 11.2% | Jan 1980–Dec 1989 · 10 calendar years |
| 1990s | 18.0% | 14.6% | Jan 1990–Dec 1999 · 10 calendar years |
| 2000s | -1.0% | -3.4% | Jan 2000–Dec 2009 · 10 calendar years |
| 2010s | 13.4% | 11.5% | Jan 2010–Dec 2019 · 10 calendar years |
| 2020s (partial) | 14.3% | 9.7% | Jan 2020–Dec 2024 · 5 calendar years |
Long-horizon averages
| Period | Nominal annualized | Real annualized |
|---|---|---|
| Jan 1928–Dec 2024 (97 years) | 9.9% | 6.7% |
| Jan 1950–Dec 2024 (75 years) | 11.5% | 7.8% |
| Jan 1975–Dec 2024 (50 years) | 12.3% | 8.2% |
| Jan 2000–Dec 2024 (25 years) | 7.6% | 4.9% |
| Jan 2015–Dec 2024 (10 years) | 12.9% | 9.8% |
Three takeaways
- Compare the same measure. These figures are annualized total returns. An arithmetic average of annual percentages or a price-only return will give a different result.
- Separate growth from purchasing power. The real-return column adjusts for the inflation accumulated over the same calendar years.
- Check the period before comparing. A partial decade covers fewer years than a complete decade. Neither guarantees what a future holding period will return.
Run your own projection
Apply any of these historical rates to your portfolio with the S&P 500 calculator or compound investment calculator. For inflation-adjusted projections, use the inflation calculator.
Sources & methodology
This page uses Snowballr's stored annual series, attributed to the sources below, through December 2024. Coverage refers to the observations included here; it is not a claim of a live data refresh. The table does not use the separate monthly series or estimates for later years.
Download the S&P 500 decade dataset for reuse or citation: JSON or CSV. The files include source notes, period coverage and the same CC-BY 4.0 citation guidance shown on the open-data hub.
- NYU Stern — Aswath Damodaran historical returns
- Yale — Robert Shiller's S&P 500 dataset
- BLS — CPI-U for inflation deflation
- Nominal annualized return = [product of (1 + each annual total return)]^(1 / number of years) − 1. Dividends are included in the annual total-return series.
- Real annualized return = [product of annual total-return factors / product of annual CPI inflation factors]^(1 / number of years) − 1. Rates enter these formulas as decimals; results are displayed as percentages rounded to one decimal place.
- All periods include their first and last calendar years. Calculations exclude investor fees, taxes, contributions and withdrawals.