Inflation-Adjusted iShares Core S&P 500 ETF (IVV)

The iShares Core S&P 500 ETF (IVV) tracks the S&P 500 Index, offering investors exposure to 500 of the largest US companies.

Understanding an investment's true growth requires looking beyond its nominal price changes. This page adjusts IVV's historical prices for inflation using the US Consumer Price Index to show its real performance. Explore the charts and data below to compare the nominal and inflation-adjusted values and see the ETF's actual long-term growth.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use June 2025 as the baseline (latest available CPI).

The current value of the iShares Core S&P 500 ETF is 624.99 (as of the close of Jul 15, 2025), 0.61% lower than the all-time high of 628.85 (Jul 10, 2025).

Since May 19, 2000, the inflation-adjusted total return for the ETF has been 268.59%, which is equivalent to an annual growth rate of 5.32%.

In nominal values, the total return since this date has been 593.25%, or an annualized rate of 8%.

Inflation-Adjusted Values by Month

This data presents the ETF's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date	Inflation-Adjusted	Nominal value
Jul 2025	624.99	624.99
Jun 2025	620.9	620.9
May 2025	594.17	592.15
Apr 2025	561.03	557.96
Mar 2025	566.75	561.9
Feb 2025	601.69	595.2
Jan 2025	612.07	602.79
Dec 2024	599.8	586.86
Nov 2024	614.56	601.1
Oct 2024	579.89	567.49
Sep 2024	586.23	573.03
Aug 2024	574.69	560.85
Jul 2024	561.53	547.56
Jun 2024	555.99	541.54
May 2024	537.02	522.88
Apr 2024	512.01	497.7
Mar 2024	535.7	518.71
Feb 2024	521.83	502.04
Jan 2024	499.09	477.21
Dec 2023	493.98	469.76
Nov 2023	471.74	449.06
Oct 2023	431.28	411.37
Sep 2023	440.85	420.66
Aug 2023	465.89	443.45
Jul 2023	475.66	450.79
Jun 2023	461.58	436.61
May 2023	434.42	409.59
Apr 2023	433.67	407.86
Mar 2023	429	401.44
Feb 2023	414.97	387.02
Jan 2023	428.12	397.08
Dec 2022	406.08	373.64
Nov 2022	429.44	396.36
Oct 2022	406.44	375.51
Sep 2022	377.42	347.29
Aug 2022	416.73	382.64
Jul 2022	434.52	399.11
Jun 2022	397.63	365.27
May 2022	439.7	398.44
Apr 2022	443.14	397.18
Mar 2022	488.85	435.72
Feb 2022	477.45	419.96
Jan 2022	496.15	432.45
Dec 2021	528.25	456.59
Nov 2021	506.76	436.67
Oct 2021	512.99	439.88
Sep 2021	483.4	411.09
Aug 2021	508.54	431.3
Jul 2021	494.64	418.65
Jun 2021	485.19	408.68
May 2021	478.9	399.66
Apr 2021	479.56	397.04
Mar 2021	459.2	377.08
Feb 2021	442.3	360.65
Jan 2021	432.79	350.97
Dec 2020	439.15	354.63
Nov 2020	423.58	341.73
Oct 2020	381.72	308.15
Sep 2020	391.72	316.09
Aug 2020	407.59	328.44
Jul 2020	382.13	306.95
Jun 2020	362.82	289.97
May 2020	358.01	284.57
Apr 2020	341.57	271.5
Mar 2020	301.11	240.95
Feb 2020	341.94	274.22
Jan 2020	374.55	299.55
Dec 2019	376	299.55
Nov 2019	364.98	291.04
Oct 2019	351.99	280.82
Sep 2019	345.33	274.88
Aug 2019	339.01	269.64
Jul 2019	344.71	274.19
Jun 2019	340.12	270.08
May 2019	318.1	252.55
Apr 2019	340.21	269.53
Mar 2019	328.86	259.16
Feb 2019	324.5	254.3
Jan 2019	315.68	246.34
Dec 2018	293.06	228.25
Nov 2018	320.58	250.49
Oct 2018	313.49	245.77
Sep 2018	337.03	263.76
Aug 2018	335.63	262.36
Jul 2018	325.3	254.15
Jun 2018	313.57	244.97
May 2018	312.25	243.54
Apr 2018	306.16	237.81
Mar 2018	306.3	236.97
Feb 2018	314.79	243
Jan 2018	328.73	252.61
Dec 2017	312.72	239
Nov 2017	308.81	236.15
Oct 2017	299.47	229
Sep 2017	292.48	223.8
Aug 2017	288.15	219.33
Jul 2017	288.23	218.73
Jun 2017	282.18	214.29
May 2017	280.57	212.87
Apr 2017	276.94	209.94
Mar 2017	275.11	207.94
Feb 2017	275.02	207.7
Jan 2017	265.33	199.76
Dec 2016	262.29	196.32
Nov 2016	256.88	192.2
Oct 2016	247.4	185.4
Sep 2016	252.19	188.76
Aug 2016	252.79	188.75
Jul 2016	252.7	188.51
Jun 2016	243.2	181.72
May 2016	243.38	181.26
Apr 2016	240.3	178.25
Mar 2016	240.5	177.55
Feb 2016	226.12	166.22
Jan 2016	226.44	166.31
Dec 2015	238.76	175.07
Nov 2015	242.14	178.17
Oct 2015	240.69	177.47
Sep 2015	221.78	163.6
Aug 2015	227.11	167.8
Jul 2015	241.64	178.78
Jun 2015	236.47	174.95
May 2015	242.1	178.49
Apr 2015	240.21	176.2
Mar 2015	238.38	174.5
Feb 2015	243.7	177.34
Jan 2015	231.68	167.86
Dec 2014	237.48	172.87
Nov 2014	236.84	173.39
Oct 2014	229.25	168.75
Sep 2014	223.34	164.82
Aug 2014	226.63	167.11
Jul 2014	217.61	160.73
Jun 2014	220.61	163.01
May 2014	216.5	159.68
Apr 2014	212.41	156.11
Mar 2014	211.53	154.96
Feb 2014	211.06	153.62
Jan 2014	202.6	146.92
Dec 2013	210.71	152.23
Nov 2013	205.43	148.43
Oct 2013	199.07	144.13
Sep 2013	189.8	137.78
Aug 2013	184.07	133.46
Jul 2013	190.06	137.64
Jun 2013	180.41	130.6
May 2013	183.76	132.71
Apr 2013	179.78	129.6
Mar 2013	176.13	127.1
Feb 2013	170.33	122.6
Jan 2013	169.43	120.96
Dec 2012	161.66	115.07
Nov 2012	159.73	114
Oct 2012	157.6	113.02
Sep 2012	160.79	115.35
Aug 2012	157.83	112.73
Jul 2012	154.87	110
Jun 2012	152.72	108.65
May 2012	146.34	104.27
Apr 2012	155.52	110.93
Mar 2012	157.02	111.67
Feb 2012	153.17	108.11
Jan 2012	147.63	103.74
Dec 2011	141.74	99.16
Nov 2011	139.9	98.12
Oct 2011	140.23	98.43
Sep 2011	126.47	88.96
Aug 2011	135.88	95.43
Jul 2011	144.22	101.01
Jun 2011	147.25	103.04
May 2011	149.61	104.8
Apr 2011	152.12	106.07
Mar 2011	148.71	103.02
Feb 2011	150.16	103.03
Jan 2011	145.86	99.58
Dec 2010	143.26	97.35
Nov 2010	134.4	91.17
Oct 2010	134.54	91.23
Sep 2010	129.73	87.85
Aug 2010	119.28	80.73
Jul 2010	124.98	84.47
Jun 2010	116.84	78.95
May 2010	123.21	83.34
Apr 2010	134.03	90.59
Mar 2010	132.12	89.14
Feb 2010	125.03	84.01
Jan 2010	121.24	81.45
Dec 2009	126.34	84.58
Nov 2009	123.76	83
Oct 2009	116.74	78.24
Sep 2009	119.15	79.77
Aug 2009	115.05	76.98
Jul 2009	111.24	74.27
Jun 2009	103.42	69.16
May 2009	104.28	69.13
Apr 2009	98.81	65.32
Mar 2009	89.94	59.31
Feb 2009	83.46	54.9
Jan 2009	93.78	61.39
Dec 2008	102.52	66.82
Nov 2008	100.48	66.17
Oct 2008	106.51	71.51
Sep 2008	126.46	85.78
Aug 2008	138.6	94.14
Jul 2008	136.03	92.76
Jun 2008	137.76	93.45
May 2008	151.9	102.01
Apr 2008	151.23	100.72
Mar 2008	145.15	96.08
Feb 2008	147.34	96.7
Jan 2008	151.95	99.44
Dec 2007	162.92	106.09
Nov 2007	164.18	106.98
Oct 2007	172.23	111.56
Sep 2007	170.2	110.01
Aug 2007	163.96	105.69
Jul 2007	161.54	104.32
Jun 2007	166.82	107.76
May 2007	169.77	109.45
Apr 2007	165.17	105.84
Mar 2007	159.37	101.46
Feb 2007	158.94	100.27
Jan 2007	162.88	102.21
Dec 2006	161.07	100.77
Nov 2006	159.1	99.39
Oct 2006	155.81	97.48
Sep 2006	150.15	94.45
Aug 2006	145.52	91.99
Jul 2006	142.67	90.01
Jun 2006	142.53	89.66
May 2006	142.44	89.42
Apr 2006	147.46	92.11
Mar 2006	146.81	90.94
Feb 2006	145.36	89.54
Jan 2006	144.88	89.07
Dec 2005	142.46	86.92
Nov 2005	142.11	87.06
Oct 2005	135.34	83.58
Sep 2005	138.58	85.41
Aug 2005	139.13	84.71
Jul 2005	141.21	85.54
Jun 2005	136.6	82.37
May 2005	136.5	82.27
Apr 2005	132.2	79.76
Mar 2005	135.53	81.22
Feb 2005	139.11	82.72
Jan 2005	137.07	81.03
Dec 2004	140.5	82.89
Nov 2004	135.83	80.43
Oct 2004	130.13	77.01
Sep 2004	129.2	76.06
Aug 2004	128.24	75.34
Jul 2004	128.05	75.19
Jun 2004	131.99	77.62
May 2004	130.1	76.27
Apr 2004	128.7	75.01
Mar 2004	131.58	76.44
Feb 2004	134.08	77.4
Jan 2004	133.12	76.43
Dec 2003	130.96	74.83
Nov 2003	124.77	71.37
Oct 2003	122.94	70.51
Sep 2003	116.51	66.89
Aug 2003	118.07	67.57
Jul 2003	116.33	66.33
Jun 2003	114.49	65.2
May 2003	113.28	64.44
Apr 2003	107.28	61.13
Mar 2003	98.67	56.35
Feb 2003	99.06	56.23
Jan 2003	101.23	57.02
Dec 2002	104.25	58.47
Nov 2002	109.89	61.77
Oct 2002	103.94	58.42
Sep 2002	96.12	53.94
Aug 2002	107.41	60.17
Jul 2002	107.26	59.89
Jun 2002	116.42	64.93
May 2002	125.51	69.96
Apr 2002	126.53	70.53
Mar 2002	134.94	74.8
Feb 2002	131.28	72.37
Jan 2002	134.3	73.73
Dec 2001	136.02	74.51
Nov 2001	134.78	74.12
Oct 2001	124.85	68.78
Sep 2001	122.26	67.58
Aug 2001	134.37	73.94
Jul 2001	142.69	78.52
Jun 2001	143.92	79.42
May 2001	147.33	81.16
Apr 2001	147.37	80.82
Mar 2001	137.93	75.35
Feb 2001	146.66	79.93
Jan 2001	162.48	88.2
Dec 2000	156.89	84.63
Nov 2000	157.51	85.02
Oct 2000	170.5	91.97
Sep 2000	171.46	92.33
Aug 2000	182.28	97.65
Jul 2000	171.12	91.67
Jun 2000	174.57	93.3
May 2000	172.09	91.49

Returns from Investing in the iShares Core S&P 500 ETF

How much did an investment in the IVV ETF really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for the iShares Core S&P 500 ETF by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the ETF nominally increased, as in 2011.

Year	Inflation-Adjusted Return	Nominal Return
2024	21.42%	24.93%
2023	21.65%	25.72%
2022	-23.13%	-18.17%
2021	20.29%	28.75%
2020	16.8%	18.39%
2019	28.3%	31.24%
2018	-6.29%	-4.5%
2017	19.23%	21.74%
2016	9.86%	12.13%
2015	0.54%	1.27%
2014	12.71%	13.56%
2013	30.34%	32.29%
2012	14.06%	16.04%
2011	-1.06%	1.87%
2010	13.39%	15.09%
2009	23.24%	26.59%
2008	-37.08%	-37.02%
2007	1.15%	5.28%
2006	13.06%	15.93%
2005	1.4%	4.86%
2004	7.28%	10.78%
2003	25.62%	27.98%
2002	-23.36%	-21.53%
2001	-13.3%	-11.96%

Ishares Core S&P 500 Etf: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for the iShares Core S&P 500 over various trailing periods ending June 30, 2025, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	11.67%	14.66%
Last 3 years	16.02%	19.34%
Last 5 years	11.34%	16.45%
Last 10 years	10.13%	13.5%
Last 20 years	7.86%	10.63%

Real Returns of Investing in the iShares Core S&P 500

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in June 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the iShares Core S&P 500 five years ago yielded an 126.42% nominal gain, but the real return (the actual increase in buying power) was 81.58%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period	What $100 Grew To (Nominal)	Total Nominal Return (%)	Total Inflation-Adjusted Return (%)
Last 5 years Feb 2020 - Jun 2025	$226.42	126.42%	81.58%
Last 10 years Feb 2015 - Jun 2025	$350.12	250.12%	154.78%

About the iShares Core S&P 500 ETF

The iShares Core S&P 500 ETF (IVV) is an exchange-traded fund managed by BlackRock that seeks to track the investment results of an index composed of large-capitalization US equities. Launched in May 2000, IVV provides investors with broad exposure to the US large-cap equity market through a single, low-cost investment vehicle.

The fund holds stocks of 500 of the largest US companies, weighted by market capitalization, offering diversified exposure across multiple sectors including technology, healthcare, financials and consumer goods. Known for its low expense ratio, IVV is a popular choice for investors seeking cost-effective exposure to the core US stock market.

Last Close Jul 15, 2025	624.99
Highest Jul 10, 2025	628.85
Highest, Inflation-Adjusted Jul 10, 2025	628.85
Annualized return Since May 19, 2000	8%
Annualized return, Inflation-Adjusted Since May 19, 2000	5.32%