The S&P 500, Dow and Nasdaq: Real Returns Since the 2000 Peak (June 2026)

The article compares the long-term performance of the S&P 500, Dow Jones Industrial Average, and Nasdaq since their 2000 peaks, using both nominal and inflation-adjusted returns through the June 2026 close. It shows that after a weak first 15 years of the century, U.S. equities have strongly recovered over the past decade. From May to June, the S&P 500 fell 1.1%, the Dow rose 2.5%, and the Nasdaq declined 2.8%; on a real basis those moves were -1.7%, +1.9%, and -3.4%, respectively. It also highlights ETF proxies: $1,000 invested at the 2000 peaks would have grown to a real value of $3,930 in SPY, $3,918 in DIA, and $3,875 in QQQ, underscoring the broad resilience of U.S. large-cap equities despite the dot-com drawdown and inflation effects.