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

Total Real Returns

SPY vs. TLT: Total Real Return Chart (Dividends Reinvested, Inflation Adjusted)

Growth of $10,000

Fri 2002-07-26💬 to Tue 2026-09-15 Overall
Return 		Exponential
Trendline
SPY × 		+635.98%
+8.62%/yr 		+8.17%/yr
R2=0.904
State Street SPDR S&P 500 ETF Trust Exchange-Traded Fund
TLT × 		+20.69%
+0.78%/yr 		+1.95%/yr
R2=0.291
iShares 20+ Year Treasury Bond ETF NASDAQ Exchange-Traded Fund

Growth of $10,000 Summary

Fri 2002-07-26💬 to Tue 2026-09-15 Start
Value 		End
Value
SPY × 		$10,000.00
2002-07-26 		$73,597.56
2026-09-15
TLT × 		$10,000.00
2002-07-26 		$12,068.52
2026-09-15

This Year’s Performance

through 2026-09-15

  YTD YoY
SPY × 		+7.87% +12.05%
TLT × 		−7.80% −9.46%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
SPY × 		−2.95%
on 2026-09-15
from 2026-08-13 peak 		−55.97%
on 2009-03-09
from 2007-10-09 peak
TLT × 		−56.05%
on 2026-09-15
from 2020-04-21 peak 		−56.60%
on 2023-10-19
from 2020-04-21 peak

Rolling Returns

Period ending Tue 2026-09-15 1 yr 2 yr 3 yr 5 yr 10 yr
SPY × 		+12.05% +29.56%
+13.82%/yr 		+61.93%
+17.43%/yr 		+47.76%
+8.12%/yr 		+196.92%
+11.50%/yr
TLT × 		−9.46% −17.59%
−9.22%/yr 		−9.65%
−3.33%/yr 		−47.78%
−12.19%/yr 		−42.28%
−5.35%/yr

Annual Returns

Year SPY TLT
2026 (YTD) +7.87% −7.80%
2025 +14.65% +1.54%
2024 +21.39% −10.63%
2023 +22.09% −0.56%
2022 −23.15% −35.41%
2021 +20.27% −10.87%
2020 +16.74% +16.56%
2019 +28.29% +11.57%
2018 −6.35% −3.45%
2017 +19.19% +6.92%
2016 +9.73% −0.88%
2015 +0.50% −2.50%
2014 +12.61% +26.35%
2013 +30.35% −14.66%
2012 +14.01% +0.89%
2011 −1.04% +30.14%
2010 +13.36% +7.40%
2009 +23.01% −23.88%
2008 −36.85% +33.83%
2007 +1.01% +5.97%
2006 +13.00% −1.76%
2005 +1.35% +5.00%
2004 +7.21% +5.28%
2003 +25.82% −0.26%
2002 −23.40% +9.24%
2001 −13.10% —
2000 −12.70% —
1999 +17.24% —
1998 +26.65% —
1997 +31.24% —
1996 +18.63% —
1995 +34.61% —
1994 −2.22% —
1993 +6.22% —