The NASDAQ Composite index includes over 3,700 common equities listed on the Nasdaq stock exchange, heavily weighted towards technology companies. Like other indices, its nominal value doesn't reflect the impact of inflation over time. This page adjusts the historical NASDAQ Composite index level for inflation using the US Consumer Price Index (CPI-U), showing its value in constant dollars. Use the charts and data to analyze the NASDAQ's real performance, compare nominal vs. inflation-adjusted returns, and understand its growth trajectory after accounting for inflation.
Adjusted prices baseline: September 2025 (latest available CPI).
The current value of the NASDAQ Composite index is 23,454.09 (as of the close of Dec 3, 2025), 2.11% lower than the all-time high of 23,958.47 (Oct 29, 2025).
Since February 5, 1971, the inflation-adjusted total return for the index has been 2,781%, which is equivalent to an annual growth rate of 6.32%.
In nominal values, the total return since this date has been 23,354%, or an annualized rate of 10.47%.
This data presents the NASDAQ Composite index'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 | 23,454.09 | 23,454.09 |
| Nov 2025 | 23,365.69 | 23,365.69 |
| Oct 2025 | 23,724.96 | 23,724.96 |
| Sep 2025 | 22,660.01 | 22,660.01 |
| Aug 2025 | 21,510.12 | 21,455.55 |
| Jul 2025 | 21,237 | 21,122.45 |
| Jun 2025 | 20,511.12 | 20,369.73 |
| May 2025 | 19,312.06 | 19,113.77 |
| Apr 2025 | 17,664.15 | 17,446.34 |
| Mar 2025 | 17,569.82 | 17,299.29 |
| Feb 2025 | 19,185.03 | 18,847.28 |
| Jan 2025 | 20,067.91 | 19,627.44 |
| Dec 2024 | 19,873.4 | 19,310.79 |
| Nov 2024 | 19,785.1 | 19,218.17 |
| Oct 2024 | 18,618.86 | 18,095.15 |
| Sep 2024 | 18,737.15 | 18,189.17 |
| Aug 2024 | 18,276.55 | 17,713.62 |
| Jul 2024 | 18,173.48 | 17,599.4 |
| Jun 2024 | 18,332.29 | 17,732.6 |
| May 2024 | 17,306.82 | 16,735.02 |
| Apr 2024 | 16,219.72 | 15,657.82 |
| Mar 2024 | 17,033.31 | 16,379.46 |
| Feb 2024 | 16,842.47 | 16,091.92 |
| Jan 2024 | 15,969.52 | 15,164.01 |
| Dec 2023 | 15,894.87 | 15,011.35 |
| Nov 2023 | 15,048.56 | 14,226.22 |
| Oct 2023 | 13,566.71 | 12,851.24 |
| Sep 2023 | 13,949.93 | 13,219.32 |
| Aug 2023 | 14,847.47 | 14,034.97 |
| Jul 2023 | 15,242.8 | 14,346.02 |
| Jun 2023 | 14,677.76 | 13,787.92 |
| May 2023 | 13,814.56 | 12,935.29 |
| Apr 2023 | 13,090.57 | 12,226.58 |
| Mar 2023 | 13,151.77 | 12,221.91 |
| Feb 2023 | 12,367.9 | 11,455.54 |
| Jan 2023 | 12,577 | 11,584.55 |
| Dec 2022 | 11,454 | 10,466.48 |
| Nov 2022 | 12,511.48 | 11,468 |
| Oct 2022 | 11,975.86 | 10,988.15 |
| Sep 2022 | 11,573.01 | 10,575.62 |
| Aug 2022 | 12,958.4 | 11,816.2 |
| Jul 2022 | 13,583.6 | 12,390.69 |
| Jun 2022 | 12,089.1 | 11,028.74 |
| May 2022 | 13,424.87 | 12,081.39 |
| Apr 2022 | 13,857.37 | 12,334.64 |
| Mar 2022 | 16,065.25 | 14,220.52 |
| Feb 2022 | 15,742.7 | 13,751.4 |
| Jan 2022 | 16,450.81 | 14,239.88 |
| Dec 2021 | 18,226.15 | 15,644.97 |
| Nov 2021 | 18,156.78 | 15,537.69 |
| Oct 2021 | 18,199.85 | 15,498.39 |
| Sep 2021 | 17,108.01 | 14,448.58 |
| Aug 2021 | 18,116.96 | 15,259.24 |
| Jul 2021 | 17,456.54 | 14,672.68 |
| Jun 2021 | 17,338.8 | 14,503.95 |
| May 2021 | 16,588.68 | 13,748.74 |
| Apr 2021 | 16,981.88 | 13,962.68 |
| Mar 2021 | 16,243.7 | 13,246.87 |
| Feb 2021 | 16,291.43 | 13,192.35 |
| Jan 2021 | 16,229.56 | 13,070.69 |
| Dec 2020 | 16,071.14 | 12,888.28 |
| Nov 2020 | 15,225.63 | 12,198.74 |
| Oct 2020 | 13,610.78 | 10,911.59 |
| Sep 2020 | 13,936 | 11,167.68 |
| Aug 2020 | 14,714.91 | 11,775.46 |
| Jul 2020 | 13,469.9 | 10,745.27 |
| Jun 2020 | 12,673.11 | 10,058.77 |
| May 2020 | 12,021.77 | 9,489.87 |
| Apr 2020 | 11,261.5 | 8,889.55 |
| Mar 2020 | 9,689.45 | 7,700.1 |
| Feb 2020 | 10,757.32 | 8,567.37 |
| Jan 2020 | 11,521.55 | 9,150.94 |
| Dec 2019 | 11,340.84 | 8,972.6 |
| Nov 2019 | 10,942.68 | 8,665.47 |
| Oct 2019 | 10,465.9 | 8,292.36 |
| Sep 2019 | 10,119.15 | 7,999.33 |
| Aug 2019 | 10,080.93 | 7,962.88 |
| Jul 2019 | 10,349.48 | 8,175.42 |
| Jun 2019 | 10,152.25 | 8,006.24 |
| May 2019 | 9,452.79 | 7,453.15 |
| Apr 2019 | 10,289.19 | 8,095.39 |
| Mar 2019 | 9,875.94 | 7,729.32 |
| Feb 2019 | 9,678.79 | 7,532.53 |
| Jan 2019 | 9,396.09 | 7,281.74 |
| Dec 2018 | 8,578.25 | 6,635.28 |
| Nov 2018 | 9,446.83 | 7,330.54 |
| Oct 2018 | 9,383.54 | 7,305.9 |
| Sep 2018 | 10,352.82 | 8,046.35 |
| Aug 2018 | 10,446.24 | 8,109.54 |
| Jul 2018 | 9,887.85 | 7,671.79 |
| Jun 2018 | 9,680.36 | 7,510.3 |
| May 2018 | 9,607.77 | 7,442.12 |
| Apr 2018 | 9,160.49 | 7,066.27 |
| Mar 2018 | 9,193.22 | 7,063.44 |
| Feb 2018 | 9,487.39 | 7,273.01 |
| Jan 2018 | 9,711.86 | 7,411.48 |
| Dec 2017 | 9,095.35 | 6,903.39 |
| Nov 2017 | 9,051.26 | 6,873.97 |
| Oct 2017 | 8,858.84 | 6,727.67 |
| Sep 2017 | 8,548.32 | 6,495.96 |
| Aug 2017 | 8,504.55 | 6,428.66 |
| Jul 2017 | 8,423.15 | 6,348.12 |
| Jun 2017 | 8,141.94 | 6,140.42 |
| May 2017 | 8,226.43 | 6,198.52 |
| Apr 2017 | 8,033.01 | 6,047.61 |
| Mar 2017 | 7,875.82 | 5,911.74 |
| Feb 2017 | 7,767.16 | 5,825.44 |
| Jan 2017 | 7,509.85 | 5,614.79 |
| Dec 2016 | 7,241.95 | 5,383.12 |
| Nov 2016 | 7,164.32 | 5,323.68 |
| Oct 2016 | 6,972.39 | 5,189.13 |
| Sep 2016 | 7,146.39 | 5,312 |
| Aug 2016 | 7,030.35 | 5,213.22 |
| Jul 2016 | 6,967.85 | 5,162.13 |
| Jun 2016 | 6,526.07 | 4,842.67 |
| May 2016 | 6,689.98 | 4,948.05 |
| Apr 2016 | 6,482.61 | 4,775.36 |
| Mar 2016 | 6,642.23 | 4,869.85 |
| Feb 2016 | 6,243.58 | 4,557.95 |
| Jan 2016 | 6,325.49 | 4,613.95 |
| Dec 2015 | 6,876.26 | 5,007.41 |
| Nov 2015 | 6,991.34 | 5,108.67 |
| Oct 2015 | 6,901.58 | 5,053.75 |
| Sep 2015 | 6,306.62 | 4,620.16 |
| Aug 2015 | 6,509.89 | 4,776.51 |
| Jul 2015 | 6,979.42 | 5,128.28 |
| Jun 2015 | 6,787.42 | 4,986.87 |
| May 2015 | 6,924.77 | 5,070.03 |
| Apr 2015 | 6,783.52 | 4,941.42 |
| Mar 2015 | 6,741.54 | 4,900.88 |
| Feb 2015 | 6,868.36 | 4,963.53 |
| Jan 2015 | 6,441.94 | 4,635.24 |
| Dec 2014 | 6,551.07 | 4,736.05 |
| Nov 2014 | 6,590.37 | 4,791.63 |
| Oct 2014 | 6,334.69 | 4,630.74 |
| Sep 2014 | 6,131.36 | 4,493.39 |
| Aug 2014 | 6,254.61 | 4,580.27 |
| Jul 2014 | 5,957.19 | 4,369.77 |
| Jun 2014 | 6,007.21 | 4,408.18 |
| May 2014 | 5,792.36 | 4,242.62 |
| Apr 2014 | 5,637.14 | 4,114.56 |
| Mar 2014 | 5,771.78 | 4,198.99 |
| Feb 2014 | 5,959.93 | 4,308.12 |
| Jan 2014 | 5,698.37 | 4,103.88 |
| Dec 2013 | 5,820.91 | 4,176.59 |
| Nov 2013 | 5,657.78 | 4,059.89 |
| Oct 2013 | 5,451.27 | 3,919.71 |
| Sep 2013 | 5,231.61 | 3,771.48 |
| Aug 2013 | 4,985.48 | 3,589.87 |
| Jul 2013 | 5,042.23 | 3,626.37 |
| Jun 2013 | 4,733.86 | 3,403.25 |
| May 2013 | 4,818.65 | 3,455.91 |
| Apr 2013 | 4,649.66 | 3,328.79 |
| Mar 2013 | 4,559.34 | 3,267.52 |
| Feb 2013 | 4,421.1 | 3,160.19 |
| Jan 2013 | 4,431.84 | 3,142.13 |
| Dec 2012 | 4,271.48 | 3,019.51 |
| Nov 2012 | 4,246.9 | 3,010.24 |
| Oct 2012 | 4,180.43 | 2,977.23 |
| Sep 2012 | 4,373.9 | 3,116.23 |
| Aug 2012 | 4,323.96 | 3,066.96 |
| Jul 2012 | 4,167.35 | 2,939.52 |
| Jun 2012 | 4,154.24 | 2,935.06 |
| May 2012 | 3,995.91 | 2,827.34 |
| Apr 2012 | 4,300.4 | 3,046.36 |
| Mar 2012 | 4,377.41 | 3,091.57 |
| Feb 2012 | 4,232.77 | 2,966.89 |
| Jan 2012 | 4,032.1 | 2,813.84 |
| Dec 2011 | 3,749.48 | 2,605.15 |
| Nov 2011 | 3,762.04 | 2,620.34 |
| Oct 2011 | 3,850.78 | 2,684.41 |
| Sep 2011 | 3,457.73 | 2,415.4 |
| Aug 2011 | 3,698.2 | 2,579.46 |
| Jul 2011 | 3,962.75 | 2,756.38 |
| Jun 2011 | 3,990.92 | 2,773.52 |
| May 2011 | 4,075.45 | 2,835.3 |
| Apr 2011 | 4,149.85 | 2,873.54 |
| Mar 2011 | 4,042.17 | 2,781.07 |
| Feb 2011 | 4,083.35 | 2,782.27 |
| Jan 2011 | 3,982.26 | 2,700.08 |
| Dec 2010 | 3,931.27 | 2,652.87 |
| Nov 2010 | 3,708.47 | 2,498.23 |
| Oct 2010 | 3,723.67 | 2,507.41 |
| Sep 2010 | 3,521.93 | 2,368.62 |
| Aug 2010 | 3,145.21 | 2,114.03 |
| Jul 2010 | 3,359.13 | 2,254.7 |
| Jun 2010 | 3,143.08 | 2,109.24 |
| May 2010 | 3,360.04 | 2,257.04 |
| Apr 2010 | 3,666.8 | 2,461.19 |
| Mar 2010 | 3,578.8 | 2,397.96 |
| Feb 2010 | 3,354.17 | 2,238.26 |
| Jan 2010 | 3,218.74 | 2,147.35 |
| Dec 2009 | 3,412.94 | 2,269.15 |
| Nov 2009 | 3,219.92 | 2,144.6 |
| Oct 2009 | 3,072.72 | 2,045.11 |
| Sep 2009 | 3,191.95 | 2,122.42 |
| Aug 2009 | 3,023.35 | 2,009.06 |
| Jul 2009 | 2,984.04 | 1,978.5 |
| Jun 2009 | 2,763.28 | 1,835.04 |
| May 2009 | 2,694.82 | 1,774.33 |
| Apr 2009 | 2,615.73 | 1,717.3 |
| Mar 2009 | 2,334.11 | 1,528.59 |
| Feb 2009 | 2,109.03 | 1,377.84 |
| Jan 2009 | 2,271.17 | 1,476.42 |
| Dec 2008 | 2,436.49 | 1,577.03 |
| Nov 2008 | 2,347.9 | 1,535.57 |
| Oct 2008 | 2,580.95 | 1,720.95 |
| Sep 2008 | 3,105.55 | 2,091.88 |
| Aug 2008 | 3,509.9 | 2,367.52 |
| Jul 2008 | 3,433.92 | 2,325.55 |
| Jun 2008 | 3,403.61 | 2,292.98 |
| May 2008 | 3,782.27 | 2,522.66 |
| Apr 2008 | 3,648.01 | 2,412.8 |
| Mar 2008 | 3,466.77 | 2,279.1 |
| Feb 2008 | 3,485.13 | 2,271.48 |
| Jan 2008 | 3,677.4 | 2,389.86 |
| Dec 2007 | 4,101.49 | 2,652.28 |
| Nov 2007 | 4,112.15 | 2,660.96 |
| Oct 2007 | 4,444.63 | 2,859.12 |
| Sep 2007 | 4,208.58 | 2,701.5 |
| Aug 2007 | 4,055.93 | 2,596.36 |
| Jul 2007 | 3,970.39 | 2,546.27 |
| Jun 2007 | 4,058.18 | 2,603.23 |
| May 2007 | 4,068.06 | 2,604.52 |
| Apr 2007 | 3,968.09 | 2,525.09 |
| Mar 2007 | 3,830.25 | 2,421.64 |
| Feb 2007 | 3,856.36 | 2,416.15 |
| Jan 2007 | 3,953.66 | 2,463.93 |
| Dec 2006 | 3,887.44 | 2,415.29 |
| Nov 2006 | 3,919.8 | 2,431.77 |
| Oct 2006 | 3,809.25 | 2,366.71 |
| Sep 2006 | 3,615.27 | 2,258.43 |
| Aug 2006 | 3,478.58 | 2,183.75 |
| Jul 2006 | 3,338.13 | 2,091.47 |
| Jun 2006 | 3,477.06 | 2,172.09 |
| May 2006 | 3,494.82 | 2,178.88 |
| Apr 2006 | 3,743.78 | 2,322.57 |
| Mar 2006 | 3,803.62 | 2,339.79 |
| Feb 2006 | 3,729.22 | 2,281.39 |
| Jan 2006 | 3,776.75 | 2,305.82 |
| Dec 2005 | 3,639.67 | 2,205.32 |
| Nov 2005 | 3,670.14 | 2,232.82 |
| Oct 2005 | 3,457.2 | 2,120.3 |
| Sep 2005 | 3,515.44 | 2,151.69 |
| Aug 2005 | 3,560.4 | 2,152.9 |
| Jul 2005 | 3,631.69 | 2,184.83 |
| Jun 2005 | 3,434.96 | 2,056.96 |
| May 2005 | 3,455.54 | 2,068.22 |
| Apr 2005 | 3,207.36 | 1,921.65 |
| Mar 2005 | 3,359.29 | 1,999.23 |
| Feb 2005 | 3,474.45 | 2,051.72 |
| Jan 2005 | 3,512.69 | 2,062.41 |
| Dec 2004 | 3,712.99 | 2,175.44 |
| Nov 2004 | 3,565.67 | 2,096.81 |
| Oct 2004 | 3,360.28 | 1,974.99 |
| Sep 2004 | 3,244.31 | 1,896.84 |
| Aug 2004 | 3,150.47 | 1,838.1 |
| Jul 2004 | 3,251.96 | 1,896.31 |
| Jun 2004 | 3,519.64 | 2,055.65 |
| May 2004 | 3,419.43 | 1,990.81 |
| Apr 2004 | 3,316.05 | 1,919.39 |
| Mar 2004 | 3,473.31 | 2,004 |
| Feb 2004 | 3,521.57 | 2,018.83 |
| Jan 2004 | 3,622.33 | 2,065.44 |
| Dec 2003 | 3,518.73 | 1,996.62 |
| Nov 2003 | 3,455.84 | 1,963.06 |
| Oct 2003 | 3,400.99 | 1,937.14 |
| Sep 2003 | 3,161.56 | 1,802.71 |
| Aug 2003 | 3,191.38 | 1,813.82 |
| Jul 2003 | 3,103.83 | 1,757.37 |
| Jun 2003 | 2,866.87 | 1,621.44 |
| May 2003 | 2,831.9 | 1,599.92 |
| Apr 2003 | 2,602.45 | 1,472.69 |
| Mar 2003 | 2,392.8 | 1,357 |
| Feb 2003 | 2,381.86 | 1,342.73 |
| Jan 2003 | 2,379.32 | 1,331.04 |
| Dec 2002 | 2,397.86 | 1,335.51 |
| Nov 2002 | 2,649.24 | 1,478.78 |
| Oct 2002 | 2,382.25 | 1,329.75 |
| Sep 2002 | 2,103.23 | 1,172.06 |
| Aug 2002 | 2,363.38 | 1,314.85 |
| Jul 2002 | 2,395.44 | 1,328.26 |
| Jun 2002 | 2,641.75 | 1,463.21 |
| May 2002 | 2,918.74 | 1,615.73 |
| Apr 2002 | 3,049.71 | 1,688.23 |
| Mar 2002 | 3,352.18 | 1,845.35 |
| Feb 2002 | 3,163.04 | 1,731.49 |
| Jan 2002 | 3,547 | 1,934.03 |
| Dec 2001 | 3,585.12 | 1,950.4 |
| Nov 2001 | 3,534.68 | 1,930.58 |
| Oct 2001 | 3,089.35 | 1,690.2 |
| Sep 2001 | 2,730.29 | 1,498.8 |
| Aug 2001 | 3,303.68 | 1,805.43 |
| Jul 2001 | 3,709.36 | 2,027.13 |
| Jun 2001 | 3,942.38 | 2,160.54 |
| May 2001 | 3,857.55 | 2,110.49 |
| Apr 2001 | 3,885.56 | 2,116.24 |
| Mar 2001 | 3,392.26 | 1,840.26 |
| Feb 2001 | 3,975.62 | 2,151.83 |
| Jan 2001 | 5,143.25 | 2,772.73 |
| Dec 2000 | 4,611.64 | 2,470.52 |
| Nov 2000 | 4,846.68 | 2,597.93 |
| Oct 2000 | 6,289.98 | 3,369.63 |
| Sep 2000 | 6,867.77 | 3,672.82 |
| Aug 2000 | 7,906.38 | 4,206.35 |
| Jul 2000 | 7,080.55 | 3,766.99 |
| Jun 2000 | 7,472.11 | 3,966.11 |
| May 2000 | 6,440.91 | 3,400.91 |
| Apr 2000 | 7,320.15 | 3,860.66 |
| Mar 2000 | 8,675.56 | 4,572.83 |
| Feb 2000 | 8,984.01 | 4,696.69 |
| Jan 2000 | 7,581.91 | 3,940.35 |
| Dec 1999 | 7,853.31 | 4,069.31 |
| Nov 1999 | 6,438.41 | 3,336.16 |
| Oct 1999 | 5,728.28 | 2,966.43 |
| Sep 1999 | 5,312.4 | 2,746.16 |
| Aug 1999 | 5,324.6 | 2,739.35 |
| Jul 1999 | 5,140.86 | 2,638.49 |
| Jun 1999 | 5,249.41 | 2,686.12 |
| May 1999 | 4,828.07 | 2,470.52 |
| Apr 1999 | 4,969.42 | 2,542.85 |
| Mar 1999 | 4,845.23 | 2,461.4 |
| Feb 1999 | 4,517.64 | 2,288.03 |
| Jan 1999 | 4,953.82 | 2,505.89 |
| Dec 1998 | 4,345.25 | 2,192.69 |
| Nov 1998 | 3,861.04 | 1,949.54 |
| Oct 1998 | 3,508.22 | 1,771.39 |
| Sep 1998 | 3,362.83 | 1,693.84 |
| Aug 1998 | 2,980.15 | 1,499.25 |
| Jul 1998 | 3,726.42 | 1,872.39 |
| Jun 1998 | 3,775.53 | 1,894.74 |
| May 1998 | 3,549 | 1,778.87 |
| Apr 1998 | 3,734.52 | 1,868.41 |
| Mar 1998 | 3,675.89 | 1,835.68 |
| Feb 1998 | 3,551.96 | 1,770.51 |
| Jan 1998 | 3,254.75 | 1,619.36 |
| Dec 1997 | 3,162.12 | 1,570.35 |
| Nov 1997 | 3,218.94 | 1,600.55 |
| Oct 1997 | 3,203 | 1,593.61 |
| Sep 1997 | 3,396.48 | 1,685.69 |
| Aug 1997 | 3,206.23 | 1,587.32 |
| Jul 1997 | 3,225.36 | 1,593.81 |
| Jun 1997 | 2,921.92 | 1,442.07 |
| May 1997 | 2,840.87 | 1,400.32 |
| Apr 1997 | 2,556.15 | 1,260.76 |
| Mar 1997 | 2,480.05 | 1,221.7 |
| Feb 1997 | 2,663.93 | 1,309 |
| Jan 1997 | 2,816.94 | 1,379.85 |
| Dec 1996 | 2,643.93 | 1,291.03 |
| Nov 1996 | 2,647.16 | 1,292.61 |
| Oct 1996 | 2,506.29 | 1,221.51 |
| Sep 1996 | 2,525.37 | 1,226.92 |
| Aug 1996 | 2,357.02 | 1,141.5 |
| Jul 1996 | 2,235.51 | 1,080.59 |
| Jun 1996 | 2,456.25 | 1,185.02 |
| May 1996 | 2,578.97 | 1,243.43 |
| Apr 1996 | 2,473.97 | 1,190.52 |
| Mar 1996 | 2,297.59 | 1,101.4 |
| Feb 1996 | 2,306.63 | 1,100.05 |
| Jan 1996 | 2,229.4 | 1,059.79 |
| Dec 1995 | 2,226.27 | 1,052.13 |
| Nov 1995 | 2,239.77 | 1,059.2 |
| Oct 1995 | 2,189.41 | 1,036.06 |
| Sep 1995 | 2,212.41 | 1,043.54 |
| Aug 1995 | 2,166.98 | 1,020.11 |
| Jul 1995 | 2,132.41 | 1,001.21 |
| Jun 1995 | 1,988.1 | 933.45 |
| May 1995 | 1,845.04 | 864.58 |
| Apr 1995 | 1,804.64 | 843.98 |
| Mar 1995 | 1,753.17 | 817.21 |
| Feb 1995 | 1,708.44 | 793.73 |
| Jan 1995 | 1,632 | 755.2 |
| Dec 1994 | 1,631.51 | 751.96 |
| Nov 1994 | 1,627.95 | 750.32 |
| Oct 1994 | 1,689.16 | 777.49 |
| Sep 1994 | 1,661.59 | 764.29 |
| Aug 1994 | 1,668.95 | 765.62 |
| Jul 1994 | 1,580.58 | 722.16 |
| Jun 1994 | 1,549.3 | 705.96 |
| May 1994 | 1,618.91 | 735.19 |
| Apr 1994 | 1,617.04 | 733.84 |
| Mar 1994 | 1,640.46 | 743.46 |
| Feb 1994 | 1,754.63 | 792.5 |
| Jan 1994 | 1,778.34 | 800.47 |
| Dec 1993 | 1,730.48 | 776.8 |
| Nov 1993 | 1,680.56 | 754.39 |
| Oct 1993 | 1,737.16 | 779.26 |
| Sep 1993 | 1,707.45 | 762.78 |
| Aug 1993 | 1,666.26 | 742.84 |
| Jul 1993 | 1,585.09 | 704.7 |
| Jun 1993 | 1,583.4 | 703.95 |
| May 1993 | 1,577.89 | 700.53 |
| Apr 1993 | 1,491.87 | 661.42 |
| Mar 1993 | 1,560.96 | 690.13 |
| Feb 1993 | 1,522.47 | 670.77 |
| Jan 1993 | 1,586.05 | 696.34 |
| Dec 1992 | 1,549.5 | 676.95 |
| Nov 1992 | 1,493 | 652.73 |
| Oct 1992 | 1,386.17 | 605.17 |
| Sep 1992 | 1,340.74 | 583.27 |
| Aug 1992 | 1,298.09 | 563.12 |
| Jul 1992 | 1,342.73 | 580.83 |
| Jun 1992 | 1,305.69 | 563.6 |
| May 1992 | 1,360.84 | 585.31 |
| Apr 1992 | 1,347.35 | 578.68 |
| Mar 1992 | 1,407.79 | 603.77 |
| Feb 1992 | 1,484.5 | 633.47 |
| Jan 1992 | 1,458.68 | 620.21 |
| Dec 1991 | 1,381.02 | 586.34 |
| Nov 1991 | 1,234.85 | 523.9 |
| Oct 1991 | 1,283.55 | 542.98 |
| Sep 1991 | 1,247.31 | 526.88 |
| Aug 1991 | 1,249.93 | 525.68 |
| Jul 1991 | 1,197.23 | 502.04 |
| Jun 1991 | 1,136.61 | 475.92 |
| May 1991 | 1,212.28 | 506.11 |
| Apr 1991 | 1,164.48 | 484.72 |
| Mar 1991 | 1,160.38 | 482.3 |
| Feb 1991 | 1,091.62 | 453.05 |
| Jan 1991 | 999.5 | 414.2 |
| Dec 1990 | 907.5 | 373.84 |
| Nov 1990 | 871.62 | 359.06 |
| Oct 1990 | 802.49 | 329.84 |
| Sep 1990 | 843.23 | 344.51 |
| Aug 1990 | 940.86 | 381.21 |
| Jul 1990 | 1,091.57 | 438.24 |
| Jun 1990 | 1,155.9 | 462.29 |
| May 1990 | 1,153.82 | 458.97 |
| Apr 1990 | 1,058.49 | 420.07 |
| Mar 1990 | 1,099.17 | 435.54 |
| Feb 1990 | 1,080.54 | 425.83 |
| Jan 1990 | 1,060.09 | 415.81 |
| Dec 1989 | 1,171.5 | 454.82 |
| Nov 1989 | 1,176.63 | 456.09 |
| Oct 1989 | 1,178.25 | 455.63 |
| Sep 1989 | 1,228.84 | 472.92 |
| Aug 1989 | 1,223.42 | 469.33 |
| Jul 1989 | 1,184.95 | 453.84 |
| Jun 1989 | 1,139.26 | 435.29 |
| May 1989 | 1,170.57 | 446.17 |
| Apr 1989 | 1,128.09 | 427.55 |
| Mar 1989 | 1,080.18 | 406.73 |
| Feb 1989 | 1,067.65 | 399.71 |
| Jan 1989 | 1,076.32 | 401.3 |
| Dec 1988 | 1,027.99 | 381.38 |
| Nov 1988 | 1,002.88 | 371.45 |
| Oct 1988 | 1,033.47 | 382.46 |
| Sep 1988 | 1,051.15 | 387.71 |
| Aug 1988 | 1,027.76 | 376.55 |
| Jul 1988 | 1,061.64 | 387.33 |
| Jun 1988 | 1,086.32 | 394.66 |
| May 1988 | 1,023.71 | 370.34 |
| Apr 1988 | 1,051.87 | 379.23 |
| Mar 1988 | 1,044.49 | 374.64 |
| Feb 1988 | 1,027.43 | 366.94 |
| Jan 1988 | 967.55 | 344.66 |
| Dec 1987 | 930.13 | 330.47 |
| Nov 1987 | 858.89 | 305.16 |
| Oct 1987 | 910.74 | 323.3 |
| Sep 1987 | 1,254.83 | 444.29 |
| Aug 1987 | 1,291.73 | 454.97 |
| Jul 1987 | 1,241.35 | 434.93 |
| Jun 1987 | 1,215.27 | 424.67 |
| May 1987 | 1,196.22 | 416.54 |
| Apr 1987 | 1,204.12 | 417.81 |
| Mar 1987 | 1,246.03 | 430.05 |
| Feb 1987 | 1,236.83 | 424.97 |
| Jan 1987 | 1,145.15 | 392.06 |
| Dec 1986 | 1,025.34 | 348.83 |
| Nov 1986 | 1,057.87 | 359.57 |
| Oct 1986 | 1,062.36 | 360.77 |
| Sep 1986 | 1,033.55 | 350.67 |
| Aug 1986 | 1,133.57 | 382.86 |
| Jul 1986 | 1,101.56 | 371.37 |
| Jun 1986 | 1,202.83 | 405.51 |
| May 1986 | 1,193.5 | 400.16 |
| Apr 1986 | 1,146.19 | 383.24 |
| Mar 1986 | 1,118.65 | 374.72 |
| Feb 1986 | 1,068.39 | 359.53 |
| Jan 1986 | 995.06 | 335.77 |
| Dec 1985 | 965.57 | 324.93 |
| Nov 1985 | 935.51 | 313.95 |
| Oct 1985 | 874.12 | 292.54 |
| Sep 1985 | 840.73 | 280.33 |
| Aug 1985 | 895.34 | 297.71 |
| Jul 1985 | 907.78 | 301.29 |
| Jun 1985 | 894.11 | 296.2 |
| May 1985 | 880.26 | 290.8 |
| Apr 1985 | 852.44 | 280.56 |
| Mar 1985 | 852.29 | 279.2 |
| Feb 1985 | 870.74 | 284.17 |
| Jan 1985 | 858.03 | 278.7 |
| Dec 1984 | 762.96 | 247.35 |
| Nov 1984 | 748.09 | 242.53 |
| Oct 1984 | 761.97 | 247.03 |
| Sep 1984 | 773.15 | 249.94 |
| Aug 1984 | 791.46 | 254.64 |
| Jul 1984 | 716.68 | 229.7 |
| Jun 1984 | 755.18 | 241.11 |
| May 1984 | 731.33 | 232.82 |
| Apr 1984 | 779.52 | 247.44 |
| Mar 1984 | 793.89 | 250.78 |
| Feb 1984 | 801.12 | 252.57 |
| Jan 1984 | 855.6 | 268.43 |
| Dec 1983 | 893.28 | 278.6 |
| Nov 1983 | 916.85 | 285.67 |
| Oct 1983 | 882.91 | 274.55 |
| Sep 1983 | 956.82 | 296.65 |
| Aug 1983 | 947.88 | 292.42 |
| Jul 1983 | 988.25 | 303.96 |
| Jun 1983 | 1,040.34 | 318.7 |
| May 1983 | 1,010.84 | 308.73 |
| Apr 1983 | 965.37 | 293.06 |
| Mar 1983 | 898.43 | 270.8 |
| Feb 1983 | 864.82 | 260.67 |
| Jan 1983 | 824.79 | 248.35 |
| Dec 1982 | 773.43 | 232.41 |
| Nov 1982 | 769.94 | 232.31 |
| Oct 1982 | 703.28 | 212.63 |
| Sep 1982 | 622.56 | 187.65 |
| Aug 1982 | 590.79 | 177.71 |
| Jul 1982 | 557.49 | 167.35 |
| Jun 1982 | 573.59 | 171.3 |
| May 1982 | 605.32 | 178.54 |
| Apr 1982 | 632.14 | 184.7 |
| Mar 1982 | 603.72 | 175.65 |
| Feb 1982 | 616.06 | 179.43 |
| Jan 1982 | 648.88 | 188.39 |
| Dec 1981 | 676.69 | 195.84 |
| Nov 1981 | 698.03 | 201.37 |
| Oct 1981 | 678.95 | 195.24 |
| Sep 1981 | 627.4 | 180.03 |
| Aug 1981 | 688.84 | 195.75 |
| Jul 1981 | 750.41 | 211.63 |
| Jun 1981 | 773.46 | 215.75 |
| May 1981 | 808.27 | 223.47 |
| Apr 1981 | 790.09 | 216.74 |
| Mar 1981 | 771.37 | 210.18 |
| Feb 1981 | 731.67 | 198.01 |
| Jan 1981 | 738.49 | 197.81 |
| Dec 1980 | 761.53 | 202.34 |
| Nov 1980 | 790.73 | 208.15 |
| Oct 1980 | 738.38 | 192.78 |
| Sep 1980 | 726.01 | 187.76 |
| Aug 1980 | 707.78 | 181.52 |
| Jul 1980 | 674.77 | 171.81 |
| Jun 1980 | 619.67 | 157.78 |
| May 1980 | 597.39 | 150.45 |
| Apr 1980 | 561.34 | 139.99 |
| Mar 1980 | 531.2 | 131 |
| Feb 1980 | 650.55 | 158.03 |
| Jan 1980 | 675.28 | 161.75 |
| Dec 1979 | 640.03 | 151.14 |
| Nov 1979 | 617.33 | 144.26 |
| Oct 1979 | 585.37 | 135.53 |
| Sep 1979 | 653 | 149.98 |
| Aug 1979 | 662.1 | 150.44 |
| Jul 1979 | 627.96 | 141.33 |
| Jun 1979 | 620.53 | 138.13 |
| May 1979 | 597 | 131.42 |
| Apr 1979 | 615.65 | 133.82 |
| Mar 1979 | 613.12 | 131.76 |
| Feb 1979 | 576.09 | 122.56 |
| Jan 1979 | 598.34 | 125.82 |
| Dec 1978 | 566.03 | 117.98 |
| Nov 1978 | 552.69 | 114.69 |
| Oct 1978 | 537.88 | 111.12 |
| Sep 1978 | 649.06 | 132.89 |
| Aug 1978 | 664.41 | 135.01 |
| Jul 1978 | 624.49 | 126.32 |
| Jun 1978 | 599.29 | 120.3 |
| May 1978 | 605.49 | 120.24 |
| Apr 1978 | 585.45 | 115.18 |
| Mar 1978 | 544.07 | 106.2 |
| Feb 1978 | 523.97 | 101.47 |
| Jan 1978 | 524.05 | 100.84 |
| Dec 1977 | 549.44 | 105.05 |
| Nov 1977 | 541.25 | 103.15 |
| Oct 1977 | 514.2 | 97.52 |
| Sep 1977 | 533.49 | 100.85 |
| Aug 1977 | 531.25 | 100.1 |
| Jul 1977 | 535.92 | 100.65 |
| Jun 1977 | 533.65 | 99.73 |
| May 1977 | 514.89 | 95.59 |
| Apr 1977 | 516.87 | 95.48 |
| Mar 1977 | 513.84 | 94.13 |
| Feb 1977 | 519.73 | 94.57 |
| Jan 1977 | 530.45 | 95.54 |
| Dec 1976 | 546.24 | 97.88 |
| Nov 1976 | 510.27 | 91.12 |
| Oct 1976 | 506.83 | 90.35 |
| Sep 1976 | 514.61 | 91.26 |
| Aug 1976 | 507.57 | 89.7 |
| Jul 1976 | 519.28 | 91.29 |
| Jun 1976 | 516.48 | 90.32 |
| May 1976 | 506.11 | 88.04 |
| Apr 1976 | 521.53 | 90.08 |
| Mar 1976 | 526.54 | 90.62 |
| Feb 1976 | 525.38 | 90.26 |
| Jan 1976 | 508.52 | 87.05 |
| Dec 1975 | 454.25 | 77.62 |
| Nov 1975 | 462.83 | 78.8 |
| Oct 1975 | 455.49 | 76.99 |
| Sep 1975 | 442.17 | 74.33 |
| Aug 1975 | 472.6 | 79.01 |
| Jul 1975 | 498.53 | 83.19 |
| Jun 1975 | 527.32 | 87.02 |
| May 1975 | 507.35 | 83.1 |
| Apr 1975 | 482.23 | 78.54 |
| Mar 1975 | 466.31 | 75.66 |
| Feb 1975 | 451.63 | 73 |
| Jan 1975 | 435.02 | 69.78 |
| Dec 1974 | 374.36 | 59.82 |
| Nov 1974 | 397.01 | 62.95 |
| Oct 1974 | 414.61 | 65.23 |
| Sep 1974 | 357.34 | 55.67 |
| Aug 1974 | 405.16 | 62.37 |
| Jul 1974 | 460.18 | 69.99 |
| Jun 1974 | 503.51 | 75.96 |
| May 1974 | 535.99 | 80.2 |
| Apr 1974 | 587.75 | 86.86 |
| Mar 1974 | 626.97 | 92.27 |
| Feb 1974 | 649.26 | 94.35 |
| Jan 1974 | 661.66 | 94.93 |
| Dec 1973 | 648.12 | 92.19 |
| Nov 1973 | 661.7 | 93.51 |
| Oct 1973 | 784.72 | 110.17 |
| Sep 1973 | 799.07 | 111.2 |
| Aug 1973 | 755.25 | 104.87 |
| Jul 1973 | 796.53 | 108.64 |
| Jun 1973 | 742.04 | 100.98 |
| May 1973 | 759.4 | 102.64 |
| Apr 1973 | 803.43 | 107.85 |
| Mar 1973 | 881.09 | 117.46 |
| Feb 1973 | 911.64 | 120.41 |
| Jan 1973 | 978.97 | 128.4 |
| Dec 1972 | 1,022.01 | 133.73 |
| Nov 1972 | 1,018.52 | 132.96 |
| Oct 1972 | 1,000.05 | 130.24 |
| Sep 1972 | 999.94 | 129.61 |
| Aug 1972 | 1,004.95 | 129.95 |
| Jul 1972 | 990.29 | 127.75 |
| Jun 1972 | 1,013.19 | 130.08 |
| May 1972 | 1,034.75 | 132.53 |
| Apr 1972 | 1,027.86 | 131.33 |
| Mar 1972 | 1,005.31 | 128.14 |
| Feb 1972 | 986.04 | 125.38 |
| Jan 1972 | 939.39 | 118.87 |
| Dec 1971 | 901.85 | 114.12 |
| Nov 1971 | 825.66 | 103.97 |
| Oct 1971 | 834.63 | 105.1 |
| Sep 1971 | 867.96 | 109.03 |
| Aug 1971 | 863.11 | 108.42 |
| Jul 1971 | 840.09 | 105.27 |
| Jun 1971 | 862.4 | 107.8 |
| May 1971 | 872.45 | 108.25 |
| Apr 1971 | 909.6 | 112.3 |
| Mar 1971 | 860.48 | 105.97 |
| Feb 1971 | 824.94 | 101.34 |
How much did an investment in the NASDAQ Composite really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.
The table below shows the returns for the NASDAQ Composite index 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 index nominally increased, as in 2005.
| Year | Inflation-Adjusted Return | Nominal Return |
|---|---|---|
| 2024 | 25.03% | 28.64% |
| 2023 | 38.77% | 43.42% |
| 2022 | -37.16% | -33.1% |
| 2021 | 13.41% | 21.39% |
| 2020 | 41.71% | 43.64% |
| 2019 | 32.2% | 35.23% |
| 2018 | -5.69% | -3.88% |
| 2017 | 25.59% | 28.24% |
| 2016 | 5.32% | 7.5% |
| 2015 | 4.96% | 5.73% |
| 2014 | 12.54% | 13.4% |
| 2013 | 36.27% | 38.32% |
| 2012 | 13.92% | 15.91% |
| 2011 | -4.62% | -1.8% |
| 2010 | 15.19% | 16.91% |
| 2009 | 40.08% | 43.89% |
| 2008 | -40.59% | -40.54% |
| 2007 | 5.51% | 9.81% |
| 2006 | 6.81% | 9.52% |
| 2005 | -1.97% | 1.37% |
| 2004 | 5.52% | 8.96% |
| 2003 | 46.74% | 49.5% |
| 2002 | -33.12% | -31.53% |
| 2001 | -22.26% | -21.05% |
| 2000 | -41.28% | -39.29% |
| 1999 | 80.73% | 85.59% |
| 1998 | 37.42% | 39.63% |
| 1997 | 19.6% | 21.64% |
| 1996 | 18.76% | 22.71% |
| 1995 | 36.45% | 39.92% |
| 1994 | -5.72% | -3.2% |
| 1993 | 11.68% | 14.75% |
| 1992 | 12.2% | 15.45% |
| 1991 | 52.18% | 56.84% |
| 1990 | -22.54% | -17.8% |
| 1989 | 13.96% | 19.26% |
| 1988 | 10.52% | 15.41% |
| 1987 | -9.29% | -5.26% |
| 1986 | 6.19% | 7.36% |
| 1985 | 26.56% | 31.36% |
| 1984 | -14.59% | -11.22% |
| 1983 | 15.5% | 19.87% |
| 1982 | 14.3% | 18.67% |
| 1981 | -11.14% | -3.21% |
| 1980 | 18.98% | 33.88% |
| 1979 | 13.07% | 28.11% |
| 1978 | 3.02% | 12.31% |
| 1977 | 0.59% | 7.33% |
| 1976 | 20.25% | 26.1% |
| 1975 | 21.34% | 29.76% |
| 1974 | -42.24% | -35.11% |
| 1973 | -36.58% | -31.06% |
| 1972 | 13.32% | 17.18% |
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 NASDAQ Composite 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 | 20.94% | 24.58% |
| Last 3 years | 25.1% | 28.92% |
| Last 5 years | 10.21% | 15.2% |
| Last 10 years | 13.64% | 17.24% |
| Last 20 years | 9.77% | 12.49% |
| Last 30 years | 8.06% | 10.8% |
| Last 40 years | 8.58% | 11.61% |
| Last 50 years | 8.19% | 12.12% |
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 NASDAQ Composite five years ago yielded an 164.49% nominal gain, but the real return (the actual increase in buying power) was 110.65%.
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 | $264.49 | 164.49% | 110.65% |
| Last 10 years Feb 2015 - Sep 2025 | $456.53 | 356.53% | 229.92% |
| Last 25 years Feb 2000 - Sep 2025 | $482.47 | 382.47% | 152.23% |
| Last 50 years Feb 1975 - Sep 2025 | $31,041.11 | 30,941% | 4,917% |
The NASDAQ Composite Index is a broad-based stock market index comprising nearly all common stocks listed on the Nasdaq stock market. Launched in 1971 with a base value of 100, it is known for its significant weighting towards companies in the technology sector, but it also includes companies from various other industries like healthcare, finance, and consumer services.
Unlike the S&P 500 or Dow Jones Industrial Average, the NASDAQ Composite includes a larger number of companies, including many smaller, growth-oriented firms and international companies listed on the exchange. It is a market-capitalization weighted index. Due to its tech-heavy nature, the NASDAQ Composite is often seen as a barometer for the performance of the technology industry and the broader growth segment of the U.S. economy.
| Last Close Dec 3, 2025 | 23,454.09 |
|---|---|
| Highest Oct 29, 2025 | 23,958.47 |
| Highest, Inflation-Adjusted Oct 29, 2025 | 23,958.47 |
| Annualized return Since Feb 5, 1971 | 10.47% |
| Annualized return, Inflation-Adjusted Since Feb 5, 1971 | 6.32% |
More in Stock Indices
Other Inflation-Adjusted Data