How $1,000 in SPY, DIA and QQQ grew since the 2000 peak

A $1,000 investment made at the 2000 peaks in major U.S. indexes is worth $3,987 in SPY, $3,836 in DIA and $3,897 in QQQ at the close of May 2026 after adjustment for inflation using the Consumer Price Index for urban consumers. The real compounded annual growth rates for those outcomes are 5.42% for SPY, 5.23% for DIA and 5.32% for QQQ. SPY and QQQ are measured from March 2000 peaks; DIA is measured from its January 2000 peak.

For May 2026 on a nominal basis the S&P 500 finished up 5.1%, the Dow Jones Industrial Average rose 2.8% and the Nasdaq Composite gained 8.4% from April. After CPI adjustment the month‑over‑month changes were 4.3% for the S&P 500, 1.9% for the Dow and 7.5% for the Nasdaq.

Over the past 10 years in real terms the S&P 500 increased about 153%, the Dow about 122% and the Nasdaq about 172%.

The analysis uses two series: nominal price levels that exclude dividends and a separate CPI‑adjusted price series. The dollar figures in this report represent the inflation‑adjusted purchasing power of $1,000 invested in the respective ETF share prices at the peak dates and held to the May 2026 close.

The three indexes differ in construction. The S&P 500 is market‑capitalization weighted and covers roughly 500 of the largest U.S. companies across 11 sectors. The Nasdaq Composite is also market‑cap weighted, includes more than 3,000 stocks and has a large concentration of technology and growth companies. The Dow is composed of 30 large, established companies and uses price weighting.

The historical price paths reflect sharp declines in the first 15 years of the 21st century followed by stronger gains in the most recent decade. The reported values are based on index and ETF price behavior since the 2000 peaks and on inflation adjustments using the CPI for urban consumers through the May 2026 close.