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 September 2025 as the baseline (latest available CPI).

The current value of the iShares Core S&P 500 ETF is 687.85 (as of the close of Dec 4, 2025), 0.41% lower than the all-time high of 690.71 (Oct 29, 2025).

Since May 19, 2000, the inflation-adjusted total return for the ETF has been 307.18%, which is equivalent to an annual growth rate of 5.65%.

In nominal values, the total return since this date has been 671.15%, or an annualized rate of 8.32%.

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
Dec 2025	687.85	687.85
Nov 2025	686.88	686.88
Oct 2025	685.23	685.23
Sep 2025	669.3	669.3
Aug 2025	648.02	646.38
Jul 2025	636.43	633
Jun 2025	623.34	619.04
May 2025	594.65	588.54
Apr 2025	561.49	554.56
Mar 2025	567.21	558.48
Feb 2025	602.17	591.57
Jan 2025	612.57	599.12
Dec 2024	600.28	583.29
Nov 2024	615.06	597.44
Oct 2024	580.36	564.03
Sep 2024	586.7	569.54
Aug 2024	575.15	557.44
Jul 2024	561.98	544.23
Jun 2024	556.44	538.24
May 2024	537.46	519.7
Apr 2024	512.42	494.67
Mar 2024	536.13	515.55
Feb 2024	522.26	498.98
Jan 2024	499.49	474.3
Dec 2023	494.38	466.9
Nov 2023	472.13	446.33
Oct 2023	431.62	408.86
Sep 2023	441.21	418.1
Aug 2023	464.15	438.75
Jul 2023	473.89	446.01
Jun 2023	459.86	431.98
May 2023	432.8	405.25
Apr 2023	432.06	403.54
Mar 2023	427.4	397.18
Feb 2023	413.42	382.92
Jan 2023	426.53	392.87
Dec 2022	404.56	369.68
Nov 2022	427.84	392.15
Oct 2022	404.92	371.53
Sep 2022	376.02	343.61
Aug 2022	415.18	378.58
Jul 2022	432.9	394.88
Jun 2022	396.14	361.4
May 2022	438.06	394.22
Apr 2022	441.49	392.97
Mar 2022	487.03	431.11
Feb 2022	475.67	415.51
Jan 2022	494.3	427.87
Dec 2021	526.28	451.75
Nov 2021	504.87	432.05
Oct 2021	511.08	435.22
Sep 2021	481.6	406.73
Aug 2021	506.64	426.73
Jul 2021	492.8	414.21
Jun 2021	483.38	404.35
May 2021	477.11	395.43
Apr 2021	477.78	392.83
Mar 2021	457.48	373.08
Feb 2021	440.66	356.83
Jan 2021	431.17	347.25
Dec 2020	437.52	350.87
Nov 2020	422	338.1
Oct 2020	380.3	304.88
Sep 2020	390.26	312.74
Aug 2020	406.07	324.96
Jul 2020	380.7	303.7
Jun 2020	361.47	286.9
May 2020	356.68	281.56
Apr 2020	340.3	268.62
Mar 2020	299.99	238.4
Feb 2020	340.67	271.32
Jan 2020	373.15	296.38
Dec 2019	374.6	296.38
Nov 2019	363.62	287.95
Oct 2019	350.68	277.85
Sep 2019	344.04	271.97
Aug 2019	337.75	266.79
Jul 2019	343.43	271.28
Jun 2019	338.85	267.22
May 2019	316.92	249.88
Apr 2019	338.94	266.67
Mar 2019	327.63	256.42
Feb 2019	323.29	251.6
Jan 2019	314.5	243.73
Dec 2018	291.96	225.83
Nov 2018	319.39	247.84
Oct 2018	312.32	243.17
Sep 2018	335.77	260.97
Aug 2018	334.38	259.58
Jul 2018	324.09	251.45
Jun 2018	312.4	242.37
May 2018	311.08	240.96
Apr 2018	305.02	235.29
Mar 2018	305.15	234.46
Feb 2018	313.62	240.42
Jan 2018	327.5	249.93
Dec 2017	311.56	236.47
Nov 2017	307.66	233.65
Oct 2017	298.35	226.58
Sep 2017	291.39	221.43
Aug 2017	287.08	217.01
Jul 2017	287.15	216.41
Jun 2017	281.12	212.02
May 2017	279.52	210.61
Apr 2017	275.91	207.72
Mar 2017	274.08	205.73
Feb 2017	273.99	205.5
Jan 2017	264.34	197.64
Dec 2016	261.31	194.24
Nov 2016	255.92	190.17
Oct 2016	246.48	183.44
Sep 2016	251.25	186.76
Aug 2016	251.85	186.75
Jul 2016	251.76	186.51
Jun 2016	242.29	179.79
May 2016	242.48	179.34
Apr 2016	239.41	176.36
Mar 2016	239.6	175.67
Feb 2016	225.28	164.46
Jan 2016	225.59	164.55
Dec 2015	237.87	173.22
Nov 2015	241.24	176.28
Oct 2015	239.79	175.59
Sep 2015	220.95	161.86
Aug 2015	226.26	166.02
Jul 2015	240.73	176.88
Jun 2015	235.59	173.09
May 2015	241.2	176.6
Apr 2015	239.32	174.33
Mar 2015	237.5	172.65
Feb 2015	242.79	175.46
Jan 2015	230.82	166.08
Dec 2014	236.59	171.04
Nov 2014	235.96	171.56
Oct 2014	228.39	166.96
Sep 2014	222.51	163.07
Aug 2014	225.78	165.34
Jul 2014	216.8	159.03
Jun 2014	219.78	161.28
May 2014	215.7	157.99
Apr 2014	211.62	154.46
Mar 2014	210.75	153.32
Feb 2014	210.27	151.99
Jan 2014	201.84	145.36
Dec 2013	209.92	150.62
Nov 2013	204.66	146.86
Oct 2013	198.33	142.61
Sep 2013	189.1	136.32
Aug 2013	183.38	132.05
Jul 2013	189.35	136.18
Jun 2013	179.74	129.22
May 2013	183.08	131.3
Apr 2013	179.11	128.23
Mar 2013	175.47	125.76
Feb 2013	169.7	121.3
Jan 2013	168.8	119.68
Dec 2012	161.06	113.85
Nov 2012	159.13	112.79
Oct 2012	157.01	111.82
Sep 2012	160.19	114.13
Aug 2012	157.24	111.53
Jul 2012	154.3	108.84
Jun 2012	152.15	107.5
May 2012	145.8	103.16
Apr 2012	154.94	109.76
Mar 2012	156.44	110.48
Feb 2012	152.6	106.96
Jan 2012	147.07	102.64
Dec 2011	141.21	98.11
Nov 2011	139.38	97.08
Oct 2011	139.7	97.39
Sep 2011	126	88.01
Aug 2011	135.38	94.42
Jul 2011	143.68	99.94
Jun 2011	146.7	101.95
May 2011	149.05	103.69
Apr 2011	151.55	104.94
Mar 2011	148.15	101.93
Feb 2011	149.6	101.94
Jan 2011	145.31	98.53
Dec 2010	142.73	96.31
Nov 2010	133.9	90.2
Oct 2010	134.04	90.26
Sep 2010	129.24	86.92
Aug 2010	118.84	79.87
Jul 2010	124.51	83.57
Jun 2010	116.4	78.12
May 2010	122.75	82.46
Apr 2010	133.53	89.63
Mar 2010	131.63	88.2
Feb 2010	124.56	83.12
Jan 2010	120.79	80.58
Dec 2009	125.87	83.69
Nov 2009	123.3	82.12
Oct 2009	116.31	77.41
Sep 2009	118.7	78.93
Aug 2009	114.62	76.17
Jul 2009	110.82	73.48
Jun 2009	103.04	68.43
May 2009	103.89	68.4
Apr 2009	98.44	64.63
Mar 2009	89.6	58.68
Feb 2009	83.15	54.32
Jan 2009	93.43	60.73
Dec 2008	102.14	66.11
Nov 2008	100.1	65.47
Oct 2008	106.11	70.75
Sep 2008	125.99	84.87
Aug 2008	138.09	93.14
Jul 2008	135.52	91.78
Jun 2008	137.25	92.46
May 2008	151.33	100.93
Apr 2008	150.67	99.65
Mar 2008	144.61	95.07
Feb 2008	146.79	95.67
Jan 2008	151.39	98.38
Dec 2007	162.32	104.96
Nov 2007	163.56	105.84
Oct 2007	171.59	110.38
Sep 2007	169.56	108.84
Aug 2007	163.35	104.57
Jul 2007	160.94	103.21
Jun 2007	166.2	106.61
May 2007	169.14	108.29
Apr 2007	164.55	104.71
Mar 2007	158.77	100.38
Feb 2007	158.35	99.21
Jan 2007	162.27	101.13
Dec 2006	160.47	99.7
Nov 2006	158.51	98.34
Oct 2006	155.23	96.44
Sep 2006	149.59	93.45
Aug 2006	144.98	91.02
Jul 2006	142.14	89.05
Jun 2006	142	88.71
May 2006	141.91	88.47
Apr 2006	146.91	91.14
Mar 2006	146.27	89.98
Feb 2006	144.82	88.59
Jan 2006	144.34	88.12
Dec 2005	141.93	86
Nov 2005	141.58	86.13
Oct 2005	134.83	82.69
Sep 2005	138.07	84.51
Aug 2005	138.61	83.82
Jul 2005	140.69	84.64
Jun 2005	136.09	81.5
May 2005	135.99	81.4
Apr 2005	131.71	78.91
Mar 2005	135.03	80.36
Feb 2005	138.59	81.84
Jan 2005	136.55	80.18
Dec 2004	139.98	82.01
Nov 2004	135.32	79.58
Oct 2004	129.64	76.2
Sep 2004	128.71	75.25
Aug 2004	127.76	74.54
Jul 2004	127.58	74.39
Jun 2004	131.5	76.8
May 2004	129.61	75.46
Apr 2004	128.22	74.22
Mar 2004	131.09	75.63
Feb 2004	133.58	76.58
Jan 2004	132.63	75.62
Dec 2003	130.47	74.03
Nov 2003	124.3	70.61
Oct 2003	122.48	69.76
Sep 2003	116.07	66.18
Aug 2003	117.63	66.86
Jul 2003	115.9	65.62
Jun 2003	114.07	64.51
May 2003	112.85	63.76
Apr 2003	106.88	60.48
Mar 2003	98.31	55.75
Feb 2003	98.69	55.63
Jan 2003	100.85	56.42
Dec 2002	103.86	57.85
Nov 2002	109.48	61.11
Oct 2002	103.55	57.8
Sep 2002	95.76	53.36
Aug 2002	107.01	59.53
Jul 2002	106.86	59.25
Jun 2002	115.99	64.24
May 2002	125.04	69.22
Apr 2002	126.06	69.78
Mar 2002	134.44	74.01
Feb 2002	130.79	71.6
Jan 2002	133.79	72.95
Dec 2001	135.51	73.72
Nov 2001	134.27	73.34
Oct 2001	124.39	68.05
Sep 2001	121.8	66.86
Aug 2001	133.87	73.16
Jul 2001	142.16	77.69
Jun 2001	143.38	78.58
May 2001	146.78	80.3
Apr 2001	146.82	79.96
Mar 2001	137.42	74.55
Feb 2001	146.12	79.09
Jan 2001	161.87	87.26
Dec 2000	156.3	83.73
Nov 2000	156.92	84.11
Oct 2000	169.86	91
Sep 2000	170.83	91.36
Aug 2000	181.6	96.62
Jul 2000	170.48	90.7
Jun 2000	173.92	92.31
May 2000	171.44	90.53

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 September 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	14.08%	17.52%
Last 3 years	21.19%	24.89%
Last 5 years	11.39%	16.44%
Last 10 years	11.72%	15.25%
Last 20 years	8.21%	10.9%

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 146.69% nominal gain, but the real return (the actual increase in buying power) was 96.47%.

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 - Sep 2025	$246.69	146.69%	96.47%
Last 10 years Feb 2015 - Sep 2025	$381.46	281.46%	175.67%

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 Dec 4, 2025	687.85
Highest Oct 29, 2025	690.71
Highest, Inflation-Adjusted Oct 29, 2025	690.71
Annualized return Since May 19, 2000	8.32%
Annualized return, Inflation-Adjusted Since May 19, 2000	5.65%