September Was the Only Month With a Negative Average Broad-Market Return, 1926-2025
Photo: TokenPost
For the 100-year period ending in 2025, September alone posted a negative mean in this cap-weighted U.S. stock series; November topped both the mean and median rankings. The comparison runs through Dec. 31, 2025. September’s median return was positive, but the lowest among the 12 months. October ranked as the second-weakest month, while July and December were also among the stronger months. A separate S&P 500 comparison using data as of Sept. 16, 2026, found an average September return of negative 1.1% since 1928, with positive returns in 45% of those months.
Source: TokenPost
