There are no clear trends linking the U.S. political environment to returns of the S&P 500 index. The average return in Republican-elected years was **** percent, compared to *** percent in Democratic-elected years. While it might seem Republicans benefit markets, removing the 2008 outlier shows no difference in average returns between parties.
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Brown Advisory. (February 13, 2024). Average investment return of the S&P 500 index worldwide from 1928 to 2023, by U.S. political environment [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 22, 2026, from /statistics/1478308/average-sandp-500-returns-by-political-environment/
Brown Advisory. "Average investment return of the S&P 500 index worldwide from 1928 to 2023, by U.S. political environment." Chart. February 13, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 22, 2026. /statistics/1478308/average-sandp-500-returns-by-political-environment/
Brown Advisory. (2024). Average investment return of the S&P 500 index worldwide from 1928 to 2023, by U.S. political environment. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 22, 2026. /statistics/1478308/average-sandp-500-returns-by-political-environment/
Brown Advisory. "Average Investment Return of The S&p 500 Index Worldwide from 1928 to 2023, by U.S. Political Environment." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 13 Feb 2024, /statistics/1478308/average-sandp-500-returns-by-political-environment/
Brown Advisory, Average investment return of the S&P 500 index worldwide from 1928 to 2023, by U.S. political environment ÌÇÐÄÆƽâ°æ, /statistics/1478308/average-sandp-500-returns-by-political-environment/ (last visited July 22, 2026)
Average investment return of the S&P 500 index worldwide from 1928 to 2023, by U.S. political environment [Graph], Brown Advisory, February 13, 2024. [Online]. Available: /statistics/1478308/average-sandp-500-returns-by-political-environment/
