Annual Stock Returns Source: Professor Kenneth French's Data Library http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html Date YYYY Market Risk-Free Rm-Rf WML 1927 32.56 3.12 29.44 24.45 1928 39.12 3.56 35.56 26.53 1929 -14.83 4.75 -19.58 19.72 1930 -28.73 2.41 -31.14 24.11 1931 -43.77 1.07 -44.84 23.29 1932 -8.64 0.96 -9.60 -20.58 1933 56.79 0.30 56.49 18.19 1934 3.25 0.16 3.09 18.78 1935 45.04 0.17 44.87 21.19 1936 32.16 0.18 31.98 5.90 1937 -34.70 0.31 -35.01 -3.96 1938 28.20 -0.02 28.22 -3.30 1939 2.52 0.02 2.50 -0.36 1940 -7.20 0.00 -7.20 5.93 1941 -10.52 0.06 -10.58 10.34 1942 16.48 0.27 16.21 -16.48 1943 28.36 0.35 28.01 14.48 1944 21.35 0.33 21.02 9.70 1945 38.75 0.33 38.42 16.09 1946 -6.39 0.35 -6.74 5.83 1947 3.44 0.50 2.94 14.91 1948 1.85 0.81 1.04 11.63 1949 20.18 1.10 19.08 0.44 1950 30.04 1.20 28.84 15.18 1951 20.69 1.49 19.20 11.02 1952 13.47 1.66 11.81 9.09 1953 0.72 1.82 -1.10 16.20 1954 50.31 0.86 49.45 10.24 1955 25.35 1.57 23.78 13.99 1956 8.33 2.46 5.87 19.00 1957 -10.02 3.14 -13.16 9.69 1958 44.97 1.54 43.43 -9.50 1959 12.72 2.95 9.77 19.40 1960 1.19 2.66 -1.47 17.10 1961 26.98 2.13 24.85 10.84 1962 -10.19 2.73 -12.92 12.07 1963 20.96 3.12 17.84 11.56 1964 16.09 3.54 12.55 4.55 1965 14.45 3.93 10.52 20.05 1966 -8.79 4.76 -13.55 9.88 1967 28.71 4.21 24.50 21.77 1968 14.12 5.21 8.91 2.77 1969 -10.94 6.58 -17.52 10.35 1970 0.09 6.52 -6.43 -4.04 1971 16.17 4.39 11.78 3.31 1972 16.91 3.84 13.07 15.20 1973 -19.32 6.93 -26.25 29.67 1974 -27.82 8.00 -35.82 8.35 1975 38.35 5.80 32.55 -19.19 1976 26.98 5.08 21.90 7.39 1977 -3.13 5.12 -8.25 18.03 1978 8.24 7.18 1.06 11.78 1979 23.45 10.38 13.07 26.18 1980 33.20 11.24 21.96 36.06 1981 -3.26 14.71 -17.97 -8.08 1982 21.47 10.54 10.93 34.02 1983 22.54 8.80 13.74 -9.73 1984 3.87 9.85 -5.98 9.34 1985 32.63 7.72 24.91 14.82 1986 16.43 6.16 10.27 10.45 1987 1.63 5.47 -3.84 -3.88 1988 17.98 6.35 11.63 -5.62 1989 28.82 8.37 20.45 27.16 1990 -6.05 7.81 -13.86 18.68 1991 34.82 5.60 29.22 14.24 1992 9.78 3.51 6.27 3.03 1993 11.16 2.90 8.26 23.64 1994 -0.15 3.90 -4.05 3.06 1995 36.85 5.60 31.25 17.62 1996 21.21 5.21 16.00 6.25 1997 31.26 5.26 26.00 11.09 1998 24.25 4.86 19.39 23.28 1999 25.23 4.68 20.55 33.89 2000 -11.59 5.89 -17.48 14.70 2001 -11.20 3.83 -15.03 4.58 2002 -21.12 1.65 -22.77 25.63 2003 31.69 1.02 30.67 -24.59 2004 11.95 1.20 10.75 -0.40 2005 6.11 2.98 3.13 14.91 2006 15.37 4.80 10.57 -7.70 2007 5.73 4.66 1.07 21.80 2008 -36.65 1.60 -38.25 13.80 2009 28.65 0.10 28.55 -83.81 2010 17.44 0.12 17.32 6.81 2011 0.52 0.04 0.48 7.30 2012 16.36 0.06 16.30 0.98 2013 35.18 0.02 35.16 7.05 2014 11.76 0.02 11.74 0.89 2015 0.22 0.02 0.20 19.95 2016 13.56 0.20 13.36 -20.91 2017 22.30 0.80 21.50 4.65 2018 -5.01 1.81 -6.82 9.58 2019 30.48 2.14 28.34 -2.25 2020 24.03 0.44 23.59 7.44 2021 23.91 0.04 23.87 -2.33 2022 -19.90 1.42 -21.32 15.97 2023 26.70 4.95 21.75 -24.49 2024 25.02 5.26 19.76 17.95 2025 17.55 4.25 13.30 -2.48