S&P 500 Returns
Year 2
Year 3
Presidential Term Years
Q4
Q3
Q1
Q2
Q4
40%
30%
20%
10%
0%
Current Cycle
Average
Current Cycle
Average Midterm Return
Source: Global Financial Data, as of 8/7/2023. Growth of $1 invested in the S&P 500 Total Return Index on 12/31/1924. Monthly data, from 12/31/1924 – 7/31/2023. Presented in US dollars.
Average Midterm Return
Current Cycle
