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 December 2025 as the baseline (latest available CPI).

The current value of the iShares Core S&P 500 ETF is 698.7 (as of the close of Jan 28, 2026), which is the all-time high.

Since May 19, 2000, the inflation-adjusted total return for the ETF has been 316.02%, which is equivalent to an annual growth rate of 5.7%.

In nominal values, the total return since this date has been 686.08%, or an annualized rate of 8.35%.

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
Jan 2026	698.7	698.7
Dec 2025	684.94	684.94
Nov 2025	684.32	684.46
Oct 2025	682.82	682.82
Sep 2025	665.41	666.95
Aug 2025	644.26	644.11
Jul 2025	632.74	630.77
Jun 2025	619.72	616.86
May 2025	591.2	586.48
Apr 2025	558.23	552.61
Mar 2025	563.92	556.52
Feb 2025	598.68	589.49
Jan 2025	609.01	597.02
Dec 2024	596.8	581.24
Nov 2024	611.49	595.34
Oct 2024	576.99	562.05
Sep 2024	583.3	567.54
Aug 2024	571.82	555.48
Jul 2024	558.72	542.32
Jun 2024	553.21	536.35
May 2024	534.34	517.87
Apr 2024	509.45	492.93
Mar 2024	533.02	513.74
Feb 2024	519.22	497.23
Jan 2024	496.6	472.63
Dec 2023	491.51	465.26
Nov 2023	469.39	444.76
Oct 2023	429.12	407.42
Sep 2023	438.65	416.63
Aug 2023	461.45	437.21
Jul 2023	471.14	444.44
Jun 2023	457.19	430.47
May 2023	430.29	403.83
Apr 2023	429.55	402.12
Mar 2023	424.92	395.79
Feb 2023	411.02	381.58
Jan 2023	424.05	391.49
Dec 2022	402.21	368.38
Nov 2022	425.35	390.78
Oct 2022	402.57	370.22
Sep 2022	373.83	342.4
Aug 2022	412.77	377.25
Jul 2022	430.39	393.49
Jun 2022	393.84	360.13
May 2022	435.51	392.83
Apr 2022	438.92	391.59
Mar 2022	484.2	429.59
Feb 2022	472.91	414.04
Jan 2022	491.43	426.36
Dec 2021	523.23	450.16
Nov 2021	501.94	430.53
Oct 2021	508.11	433.69
Sep 2021	478.8	405.3
Aug 2021	503.7	425.23
Jul 2021	489.94	412.75
Jun 2021	480.58	402.93
May 2021	474.34	394.04
Apr 2021	475	391.45
Mar 2021	454.83	371.77
Feb 2021	438.1	355.58
Jan 2021	428.67	346.03
Dec 2020	434.98	349.63
Nov 2020	419.55	336.92
Oct 2020	378.09	303.81
Sep 2020	387.99	311.64
Aug 2020	403.72	323.81
Jul 2020	378.49	302.63
Jun 2020	359.37	285.89
May 2020	354.61	280.57
Apr 2020	338.32	267.68
Mar 2020	298.25	237.56
Feb 2020	338.69	270.36
Jan 2020	370.99	295.33
Dec 2019	372.43	295.33
Nov 2019	361.51	286.94
Oct 2019	348.64	276.87
Sep 2019	342.05	271.02
Aug 2019	335.79	265.85
Jul 2019	341.43	270.33
Jun 2019	336.88	266.28
May 2019	315.08	249
Apr 2019	336.97	265.74
Mar 2019	325.73	255.52
Feb 2019	321.42	250.72
Jan 2019	312.68	242.87
Dec 2018	290.27	225.04
Nov 2018	317.53	246.97
Oct 2018	310.5	242.31
Sep 2018	333.83	260.05
Aug 2018	332.44	258.67
Jul 2018	322.21	250.57
Jun 2018	310.59	241.52
May 2018	309.28	240.11
Apr 2018	303.25	234.46
Mar 2018	303.38	233.63
Feb 2018	311.8	239.58
Jan 2018	325.6	249.05
Dec 2017	309.75	235.64
Nov 2017	305.87	232.83
Oct 2017	296.62	225.78
Sep 2017	289.7	220.65
Aug 2017	285.41	216.24
Jul 2017	285.49	215.65
Jun 2017	279.49	211.27
May 2017	277.9	209.87
Apr 2017	274.31	206.99
Mar 2017	272.49	205.01
Feb 2017	272.4	204.77
Jan 2017	262.81	196.94
Dec 2016	259.79	193.55
Nov 2016	254.43	189.5
Oct 2016	245.05	182.79
Sep 2016	249.8	186.1
Aug 2016	250.39	186.1
Jul 2016	250.29	185.86
Jun 2016	240.88	179.16
May 2016	241.07	178.71
Apr 2016	238.02	175.74
Mar 2016	238.21	175.05
Feb 2016	223.97	163.88
Jan 2016	224.28	163.97
Dec 2015	236.49	172.61
Nov 2015	239.84	175.66
Oct 2015	238.4	174.97
Sep 2015	219.67	161.3
Aug 2015	224.95	165.43
Jul 2015	239.34	176.26
Jun 2015	234.22	172.48
May 2015	239.8	175.98
Apr 2015	237.93	173.72
Mar 2015	236.12	172.04
Feb 2015	241.38	174.84
Jan 2015	229.48	165.5
Dec 2014	235.22	170.44
Nov 2014	234.59	170.95
Oct 2014	227.07	166.37
Sep 2014	221.22	162.5
Aug 2014	224.47	164.76
Jul 2014	215.54	158.47
Jun 2014	218.51	160.71
May 2014	214.45	157.43
Apr 2014	210.39	153.92
Mar 2014	209.52	152.78
Feb 2014	209.05	151.46
Jan 2014	200.67	144.85
Dec 2013	208.7	150.09
Nov 2013	203.47	146.34
Oct 2013	197.18	142.11
Sep 2013	188	135.84
Aug 2013	182.32	131.58
Jul 2013	188.25	135.7
Jun 2013	178.7	128.76
May 2013	182.02	130.84
Apr 2013	178.07	127.78
Mar 2013	174.46	125.31
Feb 2013	168.71	120.87
Jan 2013	167.82	119.26
Dec 2012	160.13	113.45
Nov 2012	158.21	112.4
Oct 2012	156.1	111.43
Sep 2012	159.26	113.73
Aug 2012	156.33	111.14
Jul 2012	153.4	108.45
Jun 2012	151.27	107.12
May 2012	144.95	102.8
Apr 2012	154.04	109.37
Mar 2012	155.53	110.1
Feb 2012	151.71	106.58
Jan 2012	146.22	102.28
Dec 2011	140.39	97.77
Nov 2011	138.57	96.74
Oct 2011	138.89	97.05
Sep 2011	125.26	87.7
Aug 2011	134.59	94.09
Jul 2011	142.85	99.59
Jun 2011	145.85	101.59
May 2011	148.18	103.33
Apr 2011	150.67	104.57
Mar 2011	147.29	101.57
Feb 2011	148.74	101.58
Jan 2011	144.47	98.18
Dec 2010	141.9	95.98
Nov 2010	133.12	89.88
Oct 2010	133.26	89.94
Sep 2010	128.49	86.61
Aug 2010	118.15	79.59
Jul 2010	123.79	83.28
Jun 2010	115.73	77.84
May 2010	122.04	82.17
Apr 2010	132.75	89.31
Mar 2010	130.87	87.89
Feb 2010	123.84	82.83
Jan 2010	120.09	80.3
Dec 2009	125.14	83.39
Nov 2009	122.58	81.83
Oct 2009	115.63	77.14
Sep 2009	118.01	78.65
Aug 2009	113.96	75.9
Jul 2009	110.18	73.22
Jun 2009	102.44	68.19
May 2009	103.28	68.16
Apr 2009	97.87	64.4
Mar 2009	89.08	58.47
Feb 2009	82.67	54.13
Jan 2009	92.89	60.52
Dec 2008	101.54	65.88
Nov 2008	99.52	65.24
Oct 2008	105.49	70.5
Sep 2008	125.26	84.57
Aug 2008	137.28	92.82
Jul 2008	134.73	91.45
Jun 2008	136.45	92.14
May 2008	150.45	100.58
Apr 2008	149.79	99.3
Mar 2008	143.77	94.73
Feb 2008	145.94	95.34
Jan 2008	150.51	98.04
Dec 2007	161.37	104.6
Nov 2007	162.61	105.47
Oct 2007	170.6	109.99
Sep 2007	168.58	108.46
Aug 2007	162.4	104.2
Jul 2007	160.01	102.85
Jun 2007	165.23	106.24
May 2007	168.16	107.91
Apr 2007	163.6	104.35
Mar 2007	157.85	100.03
Feb 2007	157.43	98.86
Jan 2007	161.33	100.77
Dec 2006	159.54	99.35
Nov 2006	157.59	97.99
Oct 2006	154.33	96.1
Sep 2006	148.72	93.12
Aug 2006	144.14	90.7
Jul 2006	141.31	88.74
Jun 2006	141.18	88.39
May 2006	141.08	88.16
Apr 2006	146.05	90.82
Mar 2006	145.42	89.66
Feb 2006	143.98	88.28
Jan 2006	143.5	87.81
Dec 2005	141.11	85.7
Nov 2005	140.76	85.83
Oct 2005	134.05	82.4
Sep 2005	137.27	84.21
Aug 2005	137.81	83.52
Jul 2005	139.87	84.34
Jun 2005	135.3	81.21
May 2005	135.21	81.11
Apr 2005	130.95	78.64
Mar 2005	134.24	80.08
Feb 2005	137.79	81.55
Jan 2005	135.76	79.89
Dec 2004	139.16	81.72
Nov 2004	134.54	79.3
Oct 2004	128.89	75.93
Sep 2004	127.97	74.99
Aug 2004	127.02	74.28
Jul 2004	126.84	74.13
Jun 2004	130.73	76.53
May 2004	128.86	75.2
Apr 2004	127.48	73.96
Mar 2004	130.33	75.37
Feb 2004	132.8	76.31
Jan 2004	131.86	75.36
Dec 2003	129.71	73.77
Nov 2003	123.58	70.36
Oct 2003	121.77	69.52
Sep 2003	115.4	65.95
Aug 2003	116.95	66.62
Jul 2003	115.23	65.39
Jun 2003	113.4	64.29
May 2003	112.2	63.53
Apr 2003	106.26	60.27
Mar 2003	97.74	55.55
Feb 2003	98.11	55.44
Jan 2003	100.27	56.22
Dec 2002	103.26	57.64
Nov 2002	108.85	60.9
Oct 2002	102.95	57.6
Sep 2002	95.2	53.18
Aug 2002	106.39	59.32
Jul 2002	106.24	59.05
Jun 2002	115.31	64.02
May 2002	124.31	68.97
Apr 2002	125.32	69.54
Mar 2002	133.66	73.75
Feb 2002	130.04	71.35
Jan 2002	133.02	72.7
Dec 2001	134.72	73.46
Nov 2001	133.49	73.08
Oct 2001	123.67	67.81
Sep 2001	121.1	66.63
Aug 2001	133.09	72.9
Jul 2001	141.33	77.41
Jun 2001	142.55	78.3
May 2001	145.92	80.02
Apr 2001	145.97	79.68
Mar 2001	136.62	74.29
Feb 2001	145.27	78.81
Jan 2001	160.93	86.96
Dec 2000	155.39	83.44
Nov 2000	156.01	83.82
Oct 2000	168.88	90.68
Sep 2000	169.83	91.03
Aug 2000	180.55	96.28
Jul 2000	169.49	90.38
Jun 2000	172.91	91.99
May 2000	170.45	90.21

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	22.2%	26.3%
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 December 31, 2025, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	14.77%	17.84%
Last 3 years	19.42%	22.97%
Last 5 years	9.51%	14.4%
Last 10 years	11.22%	14.78%
Last 20 years	8.22%	10.95%

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 September 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 87.57% nominal gain, but the real return (the actual increase in buying power) was 51.89%.

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 2021 - Sep 2025	$187.57	87.57%	51.89%
Last 10 years Feb 2016 - Sep 2025	$406.97	306.97%	197.1%
Last 25 years Feb 2001 - Sep 2025	$846.29	746.29%	358.06%

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 Jan 28, 2026	698.7
Highest Jan 28, 2026	698.7
Highest, Inflation-Adjusted Jan 28, 2026	698.7
Annualized return Since May 19, 2000	8.35%
Annualized return, Inflation-Adjusted Since May 19, 2000	5.7%