The S&P 500, Dow and Nasdaq Since 2000 Highs as of January 2026

Core Insights - The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite are key stock market indexes that measure the performance of the U.S. stock market, generally moving in tandem but with varying degrees of gains or losses depending on market conditions and economic state [1][2]. Index Characteristics - The S&P 500 includes approximately 500 of the largest U.S. stocks, weighted by market capitalization, providing a broad market performance view [2]. - The Nasdaq consists of over 3,000 stocks, heavily focused on the technology sector, also using market cap weighting, making it a benchmark for technology and growth companies [2]. - The Dow is a smaller index with 30 blue-chip stocks, weighted by stock prices, offering a more conservative representation of the market [2]. Performance Analysis - As of January 2026, the S&P 500 increased by 1.4%, the Dow by 1.7%, and the Nasdaq by 0.9% from December [3]. - When adjusted for inflation, the real month-over-month changes were 1.4% for the S&P 500, 1.7% for the Dow, and 1.0% for the Nasdaq [4]. - Over the last decade, each index has shown significant growth: S&P 500 up 140%, Dow up 120%, and Nasdaq up 146% in real terms [4]. ETF Performance - The SPY ETF, tracking the S&P 500, shows that an investment of $1,000 at its March 2000 peak has a current real purchasing power of $3,770, reflecting a real compounded annual return of 5.26% [5]. - The DIA ETF, tracking the Dow, indicates that a $1,000 investment at its January 2000 peak has a current real purchasing power of $3,791, with a real compounded annual return of 5.25% [6]. - The QQQ ETF, tracking the Nasdaq-100, shows that a $1,000 investment at its March 2000 peak has a current real purchasing power of $3,398, resulting in a real compounded annual return of 4.83% [7].