Asset Class Returns by Decade Updated yearly
Annualized total returns (geometric mean) for every major asset class, 1930s through 2020s. Includes dividends and reinvestment where applicable.
negativestrong positive
Total returns heatmap
| Decade | Stocks | Cash | Gov Bonds | Corp Bonds | Housing | REITs | Gold | Inflation |
|---|
| Asset | Series | Provider |
|---|---|---|
| Stocks | S&P 500 total return (incl. dividends) | NYU Stern / Damodaran |
| Cash | 3-Month US Treasury Bills | NYU Stern / FRED |
| Gov Bonds | 10-Year US Treasury total return | NYU Stern / Damodaran |
| Corp Bonds | Moody's BAA Corporate Bond total return | Damodaran / Barclays |
| Housing | Case-Shiller US Home Price Index (price only) | Robert Shiller / FRED |
| REITs | FTSE NAREIT All Equity REITs total return (since 1972) | NAREIT |
| Gold | Year-end spot price per troy oz | Kitco / World Gold Council |
| Inflation | CPI-U annual average | Bureau of Labor Statistics |
Annualized geometric means for the full decade (Jan 1 of start year to Dec 31 of end year). 2020s covers 2020-2024. Real estate reflects home-price appreciation only. Total return including rental income would be higher. "N/A" indicates data not available for that period.