Annualized SPY price growth over rolling eight-year windows, by starting year end
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-07-31, from The 8-4-3 Rule for Mutual Funds, Explained.
| start_year | annualized_8y_pct | multiple_after_8y |
|---|---|---|
| 2004 | 2.06 | 1.18 |
| 2005 | 5.04 | 1.48 |
| 2006 | 4.78 | 1.45 |
| 2007 | 4.23 | 1.39 |
| 2008 | 12 | 2.48 |
| 2009 | 11.53 | 2.39 |
| 2010 | 8.97 | 1.99 |
| 2011 | 12.48 | 2.56 |
| 2012 | 12.82 | 2.62 |
| 2013 | 12.54 | 2.57 |
| 2014 | 8.07 | 1.86 |
| 2015 | 11.16 | 2.33 |
| 2016 | 12.8 | 2.62 |
| 2017 | 12.44 | 2.55 |
- Rows × columns
- 14 × 3
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
start_year |
number | 2,004 to 2,017 | |
annualized_8y_pct |
number | 2.06 to 12.82 | percent |
multiple_after_8y |
number | 1.18 to 2.62 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
WITH ye AS (
SELECT toYear(toTimeZone(window_start, 'America/New_York')) AS year,
argMax(close, window_start) AS px
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY'
AND toDate(toTimeZone(window_start, 'America/New_York')) BETWEEN toDate('2004-12-01') AND toDate('2025-12-31')
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
GROUP BY year
)
SELECT a.year AS start_year,
round((pow(b.px / a.px, 1.0 / 8) - 1) * 100, 2) AS annualized_8y_pct,
round(b.px / a.px, 2) AS multiple_after_8y
FROM ye AS a
INNER JOIN ye AS b ON b.year = a.year + 8
WHERE a.year >= 2004 AND a.year <= 2017
ORDER BY start_year
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