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49 S&P 500 Return Sequence Consecutive Annual Gains 54% Gain Following Loss 20% Consecutive Annual Losses 8% Loss Following Gain 18% Consecutive years of losses are historically rare for investors in a diversified portfolio of major US stocks. S&P 500 returns include dividends. Analysis for rolling two-year periods from 1929–2024. The index increased from 90 to 500 stocks in 1957. Data from Aswath Damodaran. © 2025 Envestnet, Inc. All rights reserved. For one-on-one use with a client's financial advisor only. 20251017-4912642