S&P 500 vs Nasdaq: performance comparison
Over the 12 months to Oct 2, 2026, the S&P 500 returned +14.6% and the Nasdaq Composite +18.5%. This page puts the two side by side on the same dates — current prices, performance charts rebased to 100, returns from one month to five years, volatility, the deepest falls and how closely the two move together — recalculated daily from closing prices.
Performance, rebased to 100
Both lines start at 100 on the first shared date: a value of 150 means +50% since then.
- S&P 500+14.6%
- Nasdaq+18.5%
- S&P 500+77.0%
- Nasdaq+88.5%
Returns
| Period | S&P 500 | Nasdaq | Better |
|---|---|---|---|
| 1 month | +0.7% | +3.7% | Nasdaq |
| 3 months | +3.2% | +5.3% | Nasdaq |
| 6 months | +17.3% | +24.3% | Nasdaq |
| Year to date | +12.8% | +17.0% | Nasdaq |
| 1 year | +14.6% | +18.5% | Nasdaq |
| 3 years | +80.4% | +104.6% | Nasdaq |
| 5 years | +77.0% | +88.5% | Nasdaq |
Price returns between closing prices on the same dates for both assets; dividends and interest are not included. All prices are in US dollars. Data to Oct 2, 2026.
Risk
| Measure | S&P 500 | Nasdaq |
|---|---|---|
| Volatility, 1 year (annualized) | 13.1% | 18.7% |
| Volatility, 5 years (annualized, weekly) | 16.3% | 21.3% |
| Deepest fall, 5 years | -24.8%Dec 2021 – Oct 2022 | -35.7%Nov 2021 – Oct 2022 |
| Correlation, 1 year (daily returns) | 0.96 | |
| Correlation, 5 years (weekly returns) | 0.96 | |
Volatility is the annualized standard deviation of returns — higher means bigger swings. The deepest fall is the largest drop from a previous high. Correlation runs from −1 (opposite moves) through 0 (unrelated) to +1 (in lockstep).
What the numbers say
Over five years (Oct 2021 to Oct 2026), the S&P 500 returned +77.0% and the Nasdaq Composite +88.5%. The Nasdaq Composite came out ahead over both one and five years.
Annualized volatility over the past year: S&P 500 13.1%, Nasdaq 18.7% — the Nasdaq Composite was about 1.4× as volatile. Deepest fall over the period: S&P 500 -24.8% (Dec 2021 – Oct 2022), Nasdaq -35.7% (Nov 2021 – Oct 2022).
The correlation of their daily returns over the past year was 0.96. That is a strong positive link: they have tended to move together. Over five years of weekly returns it was 0.96.
Past performance does not predict future returns.
Key differences
- Composition: the S&P 500 holds 500 large US companies from every sector; the Nasdaq Composite holds more than 3,000 Nasdaq-listed stocks and is dominated by technology.
- Overlap: the biggest companies — Apple, Microsoft, Nvidia, Amazon, Alphabet and Meta — are heavyweights in both indices, so the two usually move together.
- Risk: the Nasdaq's tilt towards growth stocks has typically meant bigger gains in bull markets and deeper falls in sell-offs; in 2022 it lost about a third of its value, against roughly a fifth for the S&P 500.
The two assets
S&P 500
The S&P 500 tracks 500 large US companies weighted by market value and is the most-watched benchmark for US stocks. Corporate earnings, interest rates and economic growth drive it; the index level used here excludes dividends.
S&P 500 chart and analysis →Nasdaq
The Nasdaq Composite includes nearly all of the more than 3,000 stocks listed on the Nasdaq exchange and is weighted towards technology and growth companies. That tilt has typically made it more volatile than the S&P 500. The index level excludes dividends.
Nasdaq chart and analysis →Frequently asked questions
Which performed better over the past year, the S&P 500 or the Nasdaq Composite?
The Nasdaq Composite. In the 12 months to Oct 2, 2026, the S&P 500 returned +14.6% and the Nasdaq Composite +18.5%, a difference of 3.9 percentage points. Past performance does not predict future returns.
Which performed better over the past five years, the S&P 500 or the Nasdaq Composite?
The Nasdaq Composite. From Oct 2021 to Oct 2026, the S&P 500 returned +77.0% and the Nasdaq Composite +88.5%. Past performance does not predict future returns.
Which is more volatile, the S&P 500 or the Nasdaq Composite?
The Nasdaq Composite — about 1.4 times as volatile as the S&P 500. Annualized volatility over the past year: S&P 500 13.1%, Nasdaq 18.7%. Deepest fall over five years: S&P 500 -24.8%, Nasdaq -35.7%.
Do the S&P 500 and the Nasdaq Composite move together?
A strong positive link: they have tended to move together. The correlation of their daily returns over the past year was 0.96, on a scale from −1 (opposite moves) to +1 (moving in lockstep). Over five years of weekly returns it was 0.96.
How we calculate
Both series are aligned on the trading days (or weeks) they share, so every return covers the same dates for both assets. Periods up to one year use daily closes; three and five years use weekly closes. Volatility is the annualized standard deviation of log returns, the deepest fall is measured on weekly closes, and correlation is the Pearson coefficient of returns over identical intervals. Data: Yahoo Finance and OKX, refreshed daily. All prices are in US dollars.