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.
Total returns heatmap
| Decade | Stocks | Cash | Gov Bonds | Corp Bonds | Housing | REITs | Gold | Inflation |
Data sources + expand
| 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.