S&P 500 vs Nasdaq-100 Performance: Chart and Monthly Data

How to read this chart

Both lines start at 100 on the first day of the S&P 500 series in FRED, so you can compare percentage moves directly instead of comparing index points. An index at 7,000 and one at 27,000 cannot be compared by level; rebasing fixes that. A line at 150 means the index is 50% above its starting value.

The figures are price index levels. They leave out dividends, so the total return an investor in an index fund received was higher than these lines show, before fund fees.

Why the two indices move differently

• What they hold. The S&P 500 covers about 500 large U.S. companies across all sectors. The Nasdaq-100 holds the 100 largest non-financial companies listed on the Nasdaq exchange, which tilts it toward technology and communication companies.
• Concentration. Both are weighted by market value, so the biggest companies move the index most. The Nasdaq-100 is more concentrated in a handful of mega-cap names, which tends to amplify both rallies and sell-offs.
• Rate sensitivity. Growth-heavy indices have historically reacted more strongly to changes in interest-rate expectations. See our fed funds vs 10-year yield chart for the rate backdrop.

What this data cannot tell you

A chart of past index levels does not forecast the next move. FRED's free S&P 500 series covers roughly the last ten years only, so this page does not show long-run history such as 2000 or 2008. For questions about which fund style suits whom, read S&P 500 or Nasdaq-100: which index fund is better?.

FAQ

Do these numbers include dividends?

No. FRED's SP500 and NASDAQ100 series are price indices. Dividends add to total return on top of the price change.

Why does the chart start where it does?

FRED publishes about ten years of daily S&P 500 values for free. Both lines are rebased to 100 on the first S&P 500 date so they start together.

How often is this page updated?

We refresh the data from FRED when we update the site. The card shows the date of the latest close in the data we used.

Can I invest directly in an index?

No. You can buy funds or futures that track an index. Funds charge fees and may track the index slightly imperfectly.