S&P 500 average return, best months and biggest falls since 1970
57 years of daily prices in numbers: the average year, the best and worst months, every big fall and how long the recovery took. Prices to 14 October 2026.
The S&P 500 tracks 500 of the largest US companies and is the most watched stock index in the world. Index prices, without dividends.
On 14 October 2026, the S&P 500 stood 1.3% below its record close, on 6 October 2026. Over the past twelve months its highest close was 23% above its lowest.
How far the S&P 500 stood below its record high, week by week since 1970
The S&P 500 average return over the last 5, 10, 20, 30 and 50 years
Over the last 10 years the S&P 500 rose 13.7% a year on average, +262% in total. With dividends reinvested (the SPY fund, after its small yearly fee) it was 15.5% a year. The table shows the average yearly return for each span up to 14 October 2026.
| Period | From | A year on average | In total | With dividends |
|---|---|---|---|---|
| Last 1 year | 14 Oct 2025 | +16.2% | +16% | +17.5% |
| Last 3 years | 13 Oct 2023 | +21.3% | +78% | +22.7% |
| Last 5 years | 14 Oct 2021 | +11.7% | +74% | +13.2% |
| Last 10 years | 14 Oct 2016 | +13.7% | +262% | +15.5% |
| Last 20 years | 13 Oct 2006 | +9.0% | +465% | +11.0% |
| Last 30 years | 14 Oct 1996 | +8.3% | +997% | — |
| Last 50 years | 14 Oct 1976 | +9.1% | +7,554% | — |
Price figures leave out dividends. The dividend column follows the SPY fund, which reinvests them; it starts in 2004.
The average year
From 1971 to 2025, the S&P 500 rose in 41 of 55 calendar years. The average year gained +9.5% and the median year +12.8%. The best year was 1995 (+34.1%), the worst 2008 (−38.5%). This year to 14 October: +12.8%.
* Year to date.
Best and worst months
November has been the strongest month on average (+1.8%, higher in 40 of 56 years) and September the weakest (−0.8%, higher in 25 of 57). The gaps between months are small next to the swings inside any single month, so read them as tendencies, not rules.
Average change of the S&P 500 by calendar month, 1970–2025
Is the summer really weaker? We tested the old saying: Sell in May and go away.
The biggest falls, and how long the way back took
The deepest fall since 1970 took the S&P 500 56.8% below its high of 9 October 2007. It hit bottom on 9 March 2009 after 17 months, and it took another 4.1 years to close above the old high again, on 28 March 2013.
| High | Low | Fall | Fall took | Back at the high | Recovery took |
|---|---|---|---|---|---|
| 9 Oct 2007 | 9 Mar 2009 | −56.8% | 17 months | 28 Mar 2013 | 4.1 years |
| 24 Mar 2000 | 9 Oct 2002 | −49.1% | 2.5 years | 30 May 2007 | 4.6 years |
| 11 Jan 1973 | 3 Oct 1974 | −48.2% | 21 months | 17 Jul 1980 | 5.8 years |
| 19 Feb 2020 | 23 Mar 2020 | −33.9% | 33 days | 18 Aug 2020 | 5 months |
| 25 Aug 1987 | 4 Dec 1987 | −33.5% | 3 months | 26 Jul 1989 | 20 months |
How much it moves in a day
On a typical day the S&P 500 closes about 0.5% higher or lower. A move of more than 2% happened on 6% of trading days, and a move of more than 5% 51 times in 14,317 days. The largest rise was +11.6% on 13 October 2008; the largest fall −20.5% on 19 October 1987.
| Day | Average change | Days higher | Days counted |
|---|---|---|---|
| Monday | −0.01% | 52% | 2,713 |
| Tuesday | +0.06% | 51% | 2,933 |
| Wednesday | +0.07% | 55% | 2,935 |
| Thursday | +0.02% | 52% | 2,876 |
| Friday | +0.04% | 54% | 2,860 |
Differences between weekdays are small and change from decade to decade. They are not a reason to trade on a given day.
Questions people ask
What is the best month for the S&P 500?
No month is reliable. Since 1970, November has been the strongest on average (+1.8%, higher in 40 of 56 years) and September the weakest.
What is the average return of the S&P 500 over the last 10 years?
+13.7% a year from 14 October 2016 to 14 October 2026, +262% in total; +15.5% a year with dividends reinvested.
How much has the S&P 500 gained since 1970?
From 2 January 1970 to 14 October 2026: +8,200% in total, or +8.1% a year.
What was the biggest fall in the S&P 500?
−56.8% from 9 October 2007 to 9 March 2009; it was back at its high on 28 March 2013.
How much does the S&P 500 move in a day?
About 0.5% on a typical day. Days with a move of more than 2% made up 6% of all trading days since 1970.
About these numbers
Index prices, without dividends. Daily closing prices from 2 January 1970 to 14 October 2026. Before use, the series was checked for gaps and for jumps that are data errors rather than market moves.
This page describes past prices. It is not advice to buy or sell anything.