All charts and data below are CPI-U inflation-adjusted and with dividends reinvested. (Why?)

📈 Total Real Returns

Asset Classes: Stocks vs. Savings vs. Cash

Total Real Returns shows how investments performed after CPI-U inflation, with dividends reinvested. Since Dec. 31, 1926, the broad U.S. total stock market is up +7.07%/yr, the savings-like 1 month Treasury is up +0.28%/yr, and the U.S. dollar’s purchasing power is down −2.91%/yr, through May 27, 2026.

Fri 1926-12-31💬 to Wed 2026-05-27 YTD
Return 		1 Year
Return
USSTOCKS × 		+7.28%
2026-05-27 		+23.67%
2026-05-27
⭐ U.S. Total Stock Market 💬 Reference Data
US1MTBILL × 		−1.52%
2026-05-27 		+0.08%
2026-05-27
⭐ U.S. 1-Month Treasury Bill 💬 Reference Data
USDOLLAR × 		−2.96%
2026-05-27 		−3.76%
2026-05-27
⭐ U.S. Dollar 💬 Currency

Returns

Fri 1926-12-31💬 to Wed 2026-05-27 Overall
Return 		Exponential
Trendline
USSTOCKS × 		+88,991.68%
+7.07%/yr 		+6.87%/yr
(R2=0.973)
⭐ U.S. Total Stock Market 💬 Reference Data
US1MTBILL × 		+31.92%
+0.28%/yr 		+0.33%/yr
(R2=0.187)
⭐ U.S. 1-Month Treasury Bill 💬 Reference Data
USDOLLAR × 		−94.70%
−2.91%/yr 		−3.57%/yr
(R2=0.972)
⭐ U.S. Dollar 💬 Currency

Understanding the Total Real Returns chart

This chart answers a simple question:

If you saved or invested money on Dec. 31, 1926, how much purchasing power would you have today, on May 27, 2026?

Most investment charts show nominal prices. This site shows real total returns instead. That means it includes two things most charts leave out:

The y-axis is labeled “Purchasing Power (2026 USD)”: how much your investment could buy today, after accounting for inflation.

The three homepage symbols represent three different ways to invest or store wealth:

If you started with the same amount of purchasing power in each on Dec. 31, 1926, the chart shows how much purchasing power each asset would have on May 27, 2026.

USSTOCKS were risky and volatile like a roller coaster, but over the long term, grew dramatically because corporate earnings and reinvested dividends compounded faster than inflation. US1MTBILL preserved purchasing power much better than idle cash because interest was continuously reinvested. USDOLLAR declined because the number of dollars stayed the same while prices rose.

This is why USDOLLAR can go down on inflation-adjusted charts, even though it is “cash.” The chart is saying those same dollar bills buy less than they used to.

Here's what happened if you had put $10,000 in today's dollars into each asset on Dec. 31, 1926:

Growth of $10,000

Fri 1926-12-31💬 to Wed 2026-05-27 Start
Value 		End
Value
USSTOCKS × 		$10,000.00
1926-12-31 		$8,909,168.34
2026-05-27
⭐ U.S. Total Stock Market 💬 Reference Data
US1MTBILL × 		$10,000.00
1926-12-31 		$13,192.00
2026-05-27
⭐ U.S. 1-Month Treasury Bill 💬 Reference Data
USDOLLAR × 		$10,000.00
1926-12-31 		$530.03
2026-05-27
⭐ U.S. Dollar 💬 Currency

Annual Returns

Year USSTOCKS US1MTBILL USDOLLAR
2026 (YTD) +7.28% −1.52% −2.96%
2025 +14.08% +1.55% −2.60%
2024 +20.34% +2.35% −2.80%
2023 +22.05% +1.72% −3.24%
2022 −24.36% −4.52% −6.07%
2021 +17.51% −6.54% −6.57%
2020 +19.28% −0.99% −1.34%
2019 +27.95% −0.17% −2.23%
2018 −6.97% −0.06% −1.87%
2017 +18.72% −1.25% −2.07%
2016 +10.41% −1.78% −2.03%
2015 −0.23% −0.69% −0.73%
2014 +11.87% −0.72% −0.75%
2013 +31.52% −1.44% −1.48%
2012 +14.44% −1.64% −1.70%
2011 −1.64% −2.85% −2.88%
2010 +15.47% −1.36% −1.47%
2009 +25.14% −2.56% −2.65%
2008 −36.84% +1.18% −0.09%
2007 +1.34% +0.30% −3.93%
2006 +12.84% +2.15% −2.46%
2005 +2.60% −0.43% −3.32%
2004 +9.41% −1.93% −3.15%
2003 +29.08% −0.85% −1.84%
2002 −22.55% −0.74% −2.32%
2001 −12.23% +2.16% −1.52%
2000 −13.40% +2.38% −3.28%
1999 +20.70% +1.95% −2.61%
1998 +21.55% +3.19% −1.59%
1997 +28.32% +3.49% −1.67%
1996 +17.06% +1.85% −3.21%
1995 +31.85% +2.96% −2.48%
1994 −2.86% +1.19% −2.61%
1993 +8.50% +0.15% −2.67%
1992 +5.90% +0.59% −2.82%
1991 +30.81% +2.46% −2.97%
1990 −11.44% +1.66% −5.76%
1989 +23.14% +3.55% −4.44%
1988 +13.00% +1.84% −4.23%
1987 −2.67% +0.99% −4.25%
1986 +15.15% +5.00% −1.09%
1985 +27.77% +3.78% −3.66%
1984 −0.10% +5.69% −3.80%
1983 +18.08% +4.80% −3.65%
1982 +16.98% +6.46% −3.69%
1981 −11.18% +5.32% −8.19%
1980 +18.43% −1.12% −11.12%
1979 +8.95% −2.55% −11.76%
1978 −0.69% −1.69% −8.26%
1977 −9.19% −1.48% −6.27%
1976 +21.09% +0.21% −4.64%
1975 +29.36% −1.06% −6.49%
1974 −35.73% −3.85% −10.98%
1973 −25.79% −1.62% −8.02%
1972 +13.08% +0.41% −3.28%
1971 +12.49% +1.08% −3.16%
1970 −5.19% +0.90% −5.28%
1969 −16.15% +0.35% −5.84%
1968 +8.97% +0.48% −4.53%
1967 +24.92% +1.15% −2.93%
1966 −11.86% +1.24% −3.34%
1965 +12.28% +1.96% −1.89%
1964 +14.96% +2.53% −0.96%
1963 +19.00% +1.45% −1.62%
1962 −11.37% +1.39% −1.32%
1961 +26.09% +1.43% −0.67%
1960 −0.16% +1.29% −1.34%
1959 +10.84% +1.22% −1.70%
1958 +42.47% −0.23% −1.73%
1957 −12.54% +0.25% −2.82%
1956 +5.21% −0.48% −2.89%
1955 +24.87% +1.17% −0.39%
1954 +51.43% +1.62% +0.75%
1953 −0.03% +1.07% −0.74%
1952 +12.62% +0.89% −0.75%
1951 +13.82% −4.32% −5.73%
1950 +22.83% −4.35% −5.50%
1949 +22.75% +3.23% +2.09%
1948 −1.10% −2.12% −2.90%
1947 −4.96% −7.66% −8.12%
1946 −20.76% −15.04% −15.35%
1945 +35.66% −1.92% −2.23%
1944 +18.64% −1.89% −2.21%
1943 +24.63% −2.53% −2.87%
1942 +6.84% −8.03% −8.28%
1941 −18.63% −9.00% −9.03%
1940 −7.86% −0.73% −0.71%
1939 +2.51% +0.01% +0.00%
1938 +31.83% +2.82% +2.86%
1937 −36.54% −2.50% −2.78%
1936 +30.27% −1.25% −1.43%
1935 +40.80% −2.76% −2.90%
1934 +1.72% −1.31% −1.49%
1933 +55.61% −0.44% −0.73%
1932 +1.80% +12.47% +11.42%
1931 −37.99% +11.47% +10.27%
1930 −23.86% +9.42% +6.83%
1929 −15.35% +4.13% −0.58%
1928 +40.71% +4.75% +1.17%
1927 +35.65% +5.51% +2.31%
1926 — — +1.13%
1925 — — −3.35%
1924 — — +0.00%
1923 — — −2.35%
1922 — — +2.43%
1921 — — +12.12%
1920 — — −2.58%
1919 — — −12.70%
1918 — — −16.97%
1917 — — −15.38%
1916 — — −11.16%
1915 — — −1.94%
1914 — — −0.99%
1913 — — −2.00%

Drawdowns

Fri 1926-12-31💬 to Wed 2026-05-27 Current
Drawdown 		Worst
Drawdown
USSTOCKS × 		−0.02%
from 2026-05-26 peak 		−79.52%
1932-06-01
from 1929-09-03 peak
⭐ U.S. Total Stock Market 💬 Reference Data
US1MTBILL × 		−20.82%
from 2001-12-31 peak 		−48.66%
1951-12-31
from 1933-05-31 peak
⭐ U.S. 1-Month Treasury Bill 💬 Reference Data
USDOLLAR × 		−96.23%
from 1933-03-31 peak 		−96.23%
2026-05-27
from 1933-03-31 peak
⭐ U.S. Dollar 💬 Currency

Rolling Returns

Period ending Wed 2026-05-27 1
Year 		2
Years 		3
Years 		5
Years 		10
Years
USSTOCKS × 		+23.67% +36.10%
+16.60%/yr 		+68.25%
+18.91%/yr 		+46.89%
+8.00%/yr 		+191.76%
+11.30%/yr
⭐ U.S. Total Stock Market 💬 Reference Data
US1MTBILL × 		+0.08% +2.48%
+1.23%/yr 		+4.69%
+1.54%/yr 		−4.10%
−0.83%/yr 		−9.71%
−1.02%/yr
⭐ U.S. 1-Month Treasury Bill 💬 Reference Data
USDOLLAR × 		−3.76% −5.97%
−3.03%/yr 		−8.97%
−3.08%/yr 		−19.47%
−4.24%/yr 		−28.10%
−3.25%/yr
⭐ U.S. Dollar 💬 Currency

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