Nasdaq vs S&P 500
Backtest Nasdaq vs S&P 500Oct 1985 – Nov 12, 2026, Returns with dividends reinvested, Month-end closes
- Nasdaq-100 to S&P 500 ratio
- 3.73Nov 12, 2026
- Nasdaq-100, last 10 years
- +20.2%A year with dividends
- S&P 500, last 10 years
- +15.4%A year with dividends
- Years the Nasdaq-100 won
- 26 of 401986–2025
Nasdaq-100 to S&P 500 ratio
Growth of $1 since Oct 2016 · Nasdaq vs S&P 500
| Nasdaq-100 | $6.31 | 20.2% a year |
|---|---|---|
| S&P 500 | $4.21 | 15.4% a year |
| Nasdaq Composite | $5.35 | 18.2% a year |
Nasdaq vs S&P 500 returns
| Period | Nasdaq-100 | S&P 500 | Nasdaq Composite |
|---|---|---|---|
| 10 years | +20.2% | +15.4% | +18.2% |
| 20 years | +15.9% | +11.0% | +13.6% |
| 30 years | +13.5% | +10.2% | +11.4% |
| Since 1985 | +14.8% | +11.8% | +12.0% |
A year, with dividends reinvested. The Nasdaq-100 before Mar 1999 and the Composite before Oct 2003 are prices.
Nasdaq vs S&P 500 by year
| Year | Nasdaq-100 | S&P 500 | Nasdaq Composite |
|---|---|---|---|
| 2026 through Nov 12 | +12.4% | +12.0% | +9.5% |
| 2025 | +20.8% | +17.9% | +21.1% |
| 2024 | +25.6% | +25.0% | +29.6% |
| 2023 | +54.9% | +26.3% | +44.6% |
| 2022 | −32.5% | −18.1% | −32.5% |
| 2021 | +27.2% | +28.7% | +22.1% |
| 2020 | +48.6% | +18.4% | +45.0% |
| 2019 | +39.1% | +31.5% | +37.9% |
| 2018 | −0.2% | −4.4% | −2.9% |
| 2017 | +32.7% | +21.8% | +29.4% |
Calendar years, with dividends reinvested. The Nasdaq-100 before Mar 1999 and the Composite before Oct 2003 are prices.
About Nasdaq vs S&P 500
With dividends reinvested, the Nasdaq-100 returned 20.2% a year over the last 10 years, against 15.4% for the S&P 500. Over the last 20 years it returned 15.9% against 11.0%, and over the last 30 years, 13.5% against 10.2%.
Since October 1985, $1 in the Nasdaq-100 has grown to $291 and $1 in the S&P 500 to $96, or 14.8% a year against 11.8%. The Nasdaq-100 beat the S&P 500 in 26 of the 40 calendar years from 1986 to 2025. Its best was 1999, +102.0%, and its worst 2008, −41.7%.
The Nasdaq-100 to S&P 500 ratio is the Nasdaq-100's level divided by the S&P 500's, so it rises when the Nasdaq-100 does better. On November 12, 2026 it was 3.73, above its median of 1.44 since 1985. It reached 3.12 in February 2000, near the top of the dot-com bubble, and passed that high in May 2020. Its record is 4.04, in June 2026. Its low was 0.57, in October 1990.
The S&P 500's returns are its total return index. The Nasdaq indexes add their funds' dividends, QQQ's from March 1999 and ONEQ's from October 2003, and before then are prices. The Nasdaq-100 paid almost no dividends then: QQQ yielded about 0.05% when it launched.