Annual Stock Returns Source: Professor Kenneth French's Data Library http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html Date Risk YYYY Market Free Rm-Rf HML 1927 32.59 3.12 29.47 -3.40 1928 38.95 3.56 35.39 -6.17 1929 -14.79 4.75 -19.54 11.65 1930 -28.82 2.41 -31.23 -11.76 1931 -44.04 1.07 -45.11 -14.56 1932 -8.43 0.96 -9.39 10.83 1933 57.35 0.30 57.05 32.39 1934 3.18 0.16 3.02 -27.96 1935 45.13 0.17 44.96 8.74 1936 32.25 0.18 32.07 34.83 1937 -34.65 0.31 -34.96 -4.09 1938 28.46 -0.02 28.48 -12.05 1939 2.72 0.02 2.70 -18.98 1940 -7.14 0.00 -7.14 -1.60 1941 -10.47 0.06 -10.53 11.13 1942 16.47 0.27 16.20 19.96 1943 28.31 0.35 27.96 38.47 1944 21.30 0.33 20.97 16.46 1945 38.71 0.33 38.38 10.88 1946 -6.38 0.35 -6.73 3.11 1947 3.45 0.50 2.95 9.87 1948 1.88 0.81 1.07 3.74 1949 20.22 1.10 19.12 -4.24 1950 30.02 1.20 28.82 27.04 1951 20.71 1.49 19.22 -5.67 1952 13.46 1.66 11.80 3.31 1953 0.77 1.82 -1.05 -7.73 1954 50.21 0.86 49.35 26.04 1955 25.32 1.57 23.75 4.90 1956 8.36 2.46 5.90 -1.84 1957 -10.02 3.14 -13.16 -6.18 1958 44.99 1.54 43.45 13.48 1959 12.71 2.95 9.76 1.78 1960 1.20 2.66 -1.46 -4.55 1961 26.94 2.13 24.81 5.14 1962 -10.17 2.73 -12.90 9.02 1963 20.96 3.12 17.84 15.45 1964 16.08 3.54 12.54 9.65 1965 14.45 3.93 10.52 6.95 1966 -8.75 4.76 -13.51 -1.14 1967 28.70 4.21 24.49 -7.30 1968 14.00 5.21 8.79 18.49 1969 -10.96 6.58 -17.54 -9.95 1970 0.03 6.52 -6.49 21.54 1971 16.17 4.39 11.78 -11.26 1972 16.89 3.84 13.05 1.76 1973 -19.25 6.93 -26.18 17.47 1974 -27.75 8.00 -35.75 9.87 1975 38.24 5.80 32.44 9.25 1976 26.99 5.08 21.91 24.28 1977 -3.14 5.12 -8.26 7.50 1978 8.21 7.18 1.03 0.59 1979 23.47 10.38 13.09 -2.48 1980 33.37 11.24 22.13 -24.63 1981 -3.42 14.71 -18.13 25.12 1982 21.20 10.54 10.66 13.36 1983 22.54 8.80 13.74 20.49 1984 3.80 9.85 -6.05 19.07 1985 32.63 7.72 24.91 1.37 1986 16.28 6.16 10.12 9.33 1987 1.60 5.47 -3.87 -1.62 1988 17.90 6.35 11.55 14.37 1989 28.86 8.37 20.49 -4.12 1990 -6.14 7.81 -13.95 -10.04 1991 34.78 5.60 29.18 -14.72 1992 9.74 3.51 6.23 24.49 1993 11.11 2.90 8.21 16.86 1994 -0.20 3.90 -4.10 -0.77 1995 36.82 5.60 31.22 6.05 1996 21.17 5.21 15.96 8.70 1997 31.22 5.26 25.96 19.11 1998 24.32 4.86 19.46 -10.32 1999 25.25 4.68 20.57 -31.96 2000 -11.71 5.89 -17.60 45.02 2001 -11.37 3.83 -15.20 18.50 2002 -21.11 1.65 -22.76 8.09 2003 31.77 1.02 30.75 5.11 2004 11.92 1.20 10.72 7.67 2005 6.07 2.98 3.09 9.43 2006 15.40 4.80 10.60 11.75 2007 5.70 4.66 1.04 -17.28 2008 -36.74 1.60 -38.34 0.83 2009 28.36 0.10 28.26 -9.42 2010 17.49 0.12 17.37 -5.10 2011 0.48 0.04 0.44 -8.54 2012 16.33 0.06 16.27 9.85 2013 35.22 0.02 35.20 2.65 2014 11.73 0.02 11.71 -1.46 2015 0.09 0.02 0.07 -9.53 2016 13.50 0.20 13.30 22.64 2017 22.31 0.80 21.51 -13.48 2018 -5.12 1.81 -6.93 -9.80 2019 30.42 2.14 28.28 -10.48 2020 24.11 0.44 23.67 -46.60 2021 23.61 0.04 23.57 25.31