Seasonality
SPY seasonality — SPDR S&P 500 ETF
Over the last 11 years, SPY's strongest month on average has been November (+4.4%) and its weakest September (-1.6%).
Average return by month
Month-by-month statistics
| Month | Avg | Median | Up % | Best | Worst | Yrs |
|---|---|---|---|---|---|---|
| Jan | +2.11% | +1.69% | 70% | +8.0% | -5.3% | 10 |
| Feb | -0.40% | -1.07% | 40% | +5.2% | -7.9% | 10 |
| Mar | -1.22% | +0.53% | 50% | +4.2% | -13.0% | 10 |
| Apr | +2.20% | +1.30% | 70% | +12.7% | -8.8% | 10 |
| May | +2.02% | +1.92% | 90% | +6.3% | -6.4% | 10 |
| Jun | +1.41% | +1.62% | 80% | +6.4% | -8.6% | 10 |
| Jul | +3.16% | +2.37% | 100% | +9.2% | +0.0% | 10 |
| Aug | +1.31% | +2.19% | 70% | +7.0% | -4.1% | 10 |
| Sep | -1.62% | -0.22% | 50% | +3.3% | -9.6% | 10 |
| Oct | +0.87% | +0.66% | 50% | +8.1% | -6.9% | 10 |
| Nov | +4.38% | +3.62% | 89% | +10.9% | -0.8% | 9 |
| Dec | -0.23% | +1.06% | 60% | +4.3% | -9.3% | 10 |
Monthly returns heat map — SPY
price return, %| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.5 | -0.9 | -5.2 | 10.5 | 5.3 | -1.3 | 0.0 | 2.7 | -0.6 | -0.9 | -2.7 | +7.8% | |
| 2025 | 2.7 | -1.3 | -5.9 | -0.9 | 6.3 | 4.8 | 2.3 | 2.0 | 3.3 | 2.4 | 0.2 | -0.2 | +16.4% |
| 2024 | 1.6 | 5.2 | 3.0 | -4.0 | 5.1 | 3.2 | 1.2 | 2.3 | 1.8 | -0.9 | 6.0 | -2.7 | +23.3% |
| 2023 | 6.3 | -2.5 | 3.3 | 1.6 | 0.5 | 6.1 | 3.3 | -1.6 | -5.1 | -2.2 | 9.1 | 4.1 | +24.3% |
| 2022 | -5.3 | -3.0 | 3.4 | -8.8 | 0.2 | -8.6 | 9.2 | -4.1 | -9.6 | 8.1 | 5.6 | -6.2 | -19.5% |
| 2021 | -1.0 | 2.8 | 4.2 | 5.3 | 0.7 | 1.9 | 2.4 | 3.0 | -5.0 | 7.0 | -0.8 | 4.3 | +27.0% |
| 2020 | -0.0 | -7.9 | -13.0 | 12.7 | 4.8 | 1.3 | 5.9 | 7.0 | -4.1 | -2.5 | 10.9 | 3.3 | +16.2% |
| 2019 | 8.0 | 3.2 | 1.4 | 4.1 | -6.4 | 6.4 | 1.5 | -1.7 | 1.5 | 2.2 | 3.6 | 2.4 | +28.8% |
| 2018 | 5.6 | -3.6 | -3.1 | 0.5 | 2.4 | 0.1 | 3.7 | 3.2 | 0.1 | -6.9 | 1.9 | -9.3 | -6.3% |
| 2017 | 1.8 | 3.9 | -0.3 | 1.0 | 1.4 | 0.1 | 2.1 | 0.3 | 1.5 | 2.4 | 3.1 | 0.7 | +19.4% |
| 2016 | 1.4 |