BEL 20 (BFX)
Benchmark index · Belgium · data since 1991-04-09 · last close 2026-09-09
BEL 20 (BFX) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.0 | 1.1 | -6.8 | 5.5 | 4.3 | 3.0 | -1.1 | 2.6 | -1.6 | · | · | · |
| 2025 | 1.4 | 2.2 | -1.9 | 2.2 | 1.6 | -0.6 | 3.6 | 3.5 | 0.5 | 1.7 | 2.7 | 0.8 |
| 2024 | -1.2 | -0.0 | 5.0 | 1.0 | 0.9 | -0.8 | 6.3 | 1.3 | 2.8 | -2.0 | 0.3 | 0.9 |
| 2023 | 4.3 | 1.1 | -2.8 | 0.2 | -7.0 | 0.2 | 6.6 | -2.9 | -3.1 | -5.5 | 5.1 | 5.1 |
| 2022 | -5.5 | -1.4 | 3.6 | -1.3 | -5.2 | -5.5 | 3.1 | -5.6 | -6.0 | 5.8 | 3.3 | 0.4 |
| 2021 | 0.1 | 3.8 | 3.6 | 2.9 | 1.1 | 1.6 | 1.8 | 2.6 | -3.5 | 2.9 | -3.9 | 4.8 |
| 2020 | -1.2 | -10.7 | -16.8 | 6.8 | 3.4 | 3.9 | -1.6 | 1.8 | -2.9 | -5.9 | 20.5 | -1.3 |
| 2019 | 7.7 | 3.2 | 1.5 | 2.3 | -8.4 | 3.5 | 4.3 | -3.5 | 4.0 | 1.3 | 3.8 | 1.3 |
| 2018 | 3.4 | -2.9 | -3.4 | 1.4 | -3.7 | -1.2 | 4.8 | -4.1 | -0.9 | -7.0 | 1.2 | -7.0 |
| 2017 | -1.8 | 1.2 | 6.5 | 1.5 | 0.3 | -2.4 | 3.9 | -1.4 | 3.4 | 2.0 | -2.7 | -0.2 |
| 2016 | -6.6 | -3.3 | 0.0 | 1.1 | 3.1 | -4.8 | 3.6 | 2.6 | 0.1 | -0.4 | -1.8 | 3.7 |
| 2015 | 7.5 | 5.2 | 0.3 | -1.4 | 0.9 | -3.6 | 5.3 | -8.0 | -3.4 | 7.7 | 4.5 | -0.7 |
| 2014 | -1.1 | 7.1 | 1.1 | -1.3 | 2.2 | -1.0 | -0.9 | 3.0 | 0.9 | -2.0 | 4.1 | -0.1 |
| 2013 | 2.2 | 1.9 | 0.9 | 2.0 | 0.2 | -4.7 | 5.4 | 0.4 | 4.8 | 3.6 | -1.1 | 1.8 |
| 2012 | 5.9 | 3.1 | 2.1 | -5.0 | -5.2 | 6.4 | 2.1 | 3.1 | 1.2 | -0.2 | 2.9 | 1.2 |
| 2011 | 1.9 | 2.6 | -1.7 | 4.0 | -2.9 | -4.3 | -5.7 | -6.6 | -6.0 | 0.4 | -3.0 | 0.5 |
| 2010 | -0.3 | 0.4 | 5.3 | -3.3 | -4.2 | -2.7 | 5.5 | -2.4 | 5.4 | 3.5 | -6.5 | 3.4 |
| 2009 | -0.5 | -10.7 | 3.1 | 11.7 | 6.0 | -1.9 | 6.8 | 9.0 | 5.1 | -3.7 | 1.2 | 3.7 |
| 2008 | -9.8 | 0.9 | -1.0 | 5.5 | -4.4 | -15.6 | -5.5 | 4.7 | -14.8 | -21.4 | -10.4 | 1.4 |
| 2007 | 1.0 | -2.9 | 3.9 | 3.2 | 1.8 | -1.2 | -5.5 | -0.8 | -0.6 | 2.7 | -6.3 | -0.8 |
| 2006 | 5.5 | 2.5 | 1.9 | -0.0 | -6.0 | 0.8 | 2.5 | 2.9 | 4.2 | 1.8 | -0.1 | 6.0 |
| 2005 | 2.2 | 3.6 | 0.6 | -2.8 | 0.4 | 2.0 | 3.7 | -0.1 | 3.3 | -1.9 | 4.0 | 4.6 |
| 2004 | 6.2 | 4.2 | -4.1 | 2.5 | -1.0 | 2.3 | -0.2 | 3.8 | 5.3 | 3.4 | 2.4 | 2.9 |
| 2003 | -7.0 | -11.2 | -2.2 | 14.5 | 2.9 | 0.7 | 4.3 | 1.0 | 0.4 | 5.3 | 0.3 | 3.5 |
| 2002 | -0.6 | -0.6 | 0.8 | 1.5 | -3.0 | -7.0 | -11.0 | -0.4 | -16.8 | 5.5 | 5.2 | -2.4 |
| 2001 | -1.9 | 1.0 | -5.4 | 0.1 | -2.0 | 3.5 | 1.5 | -1.2 | -8.7 | -1.4 | 1.1 | 5.6 |
| 2000 | -16.0 | -2.1 | 1.2 | 1.3 | 1.3 | 3.6 | 3.9 | 2.1 | -2.4 | 1.8 | -3.9 | 1.2 |
| 1999 | -2.9 | -1.5 | -3.3 | -0.7 | -3.9 | 1.1 | -3.5 | 6.0 | -4.1 | 0.4 | 1.8 | 6.4 |
| 1998 | 6.7 | 5.3 | 10.0 | 3.1 | 5.6 | 5.8 | 1.7 | -9.3 | -6.7 | 6.7 | 3.8 | 7.3 |
| 1997 | 8.2 | 4.4 | 0.2 | 4.6 | 0.1 | 5.9 | 8.3 | -10.1 | 5.1 | -4.1 | 2.4 | 1.1 |
| 1996 | 8.4 | -0.0 | -3.0 | 5.0 | 1.9 | -0.6 | -2.6 | 1.0 | 3.3 | 1.3 | 5.1 | 0.4 |
| 1995 | -2.6 | -2.0 | -1.9 | 9.5 | 2.1 | -1.5 | 2.9 | -0.6 | -0.2 | -2.4 | 4.4 | 4.7 |
| 1994 | 3.8 | -0.9 | -3.4 | 3.9 | -2.2 | -5.3 | 3.6 | 1.4 | -7.1 | -0.1 | 2.5 | -1.4 |
| 1993 | 5.4 | 1.6 | 4.5 | -5.1 | -0.1 | 6.9 | 3.7 | -1.5 | -0.5 | 6.3 | 0.5 | 6.1 |
| 1992 | 8.0 | 2.6 | -1.4 | -0.0 | 3.2 | -5.5 | -1.5 | -7.7 | 4.9 | 2.8 | -1.0 | -0.1 |
| 1991 | · | · | · | -1.1 | -1.4 | -0.8 | -2.0 | -0.9 | -3.5 | 1.1 | -2.9 | 2.2 |
| Avg | 1.0 | 0.3 | -0.1 | 2.1 | -0.5 | -0.5 | 1.6 | -0.4 | -1.1 | 0.3 | 1.1 | 1.9 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
BFX seasonality — average by calendar month
BEL 20 has monthly history back to 1991. Its strongest month by median is July — positive in 24 of 36 years, median +3.0%, and higher in 7 of the last 9. June is the soft spot, down in 20 of 36 with a median of -0.7%. Across its full record it has closed 59% of months higher, swings ±4.6% in an average month and has fallen 67.9% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | +1.1% | +0.3% | -0.1% | +2.1% | -0.5% | -0.6% | +1.6% | -0.4% | -1.1% | +0.3% | +1.1% | +1.9% |
| Win rate | 57%/35 | 60%/35 | 57%/35 | 69%/36 | 56%/36 | 44%/36 | 67%/36 | 50%/36 | 49%/35 | 60%/35 | 66%/35 | 74%/35 |
Win rate = share of positive months / sample size.
BFX risk & extremes
BFX drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
Frequently asked questions
What was BEL 20's best month?+
BEL 20's strongest completed month on record is November 2020, at +20.50%.
What was BEL 20's worst month?+
Its weakest completed month on record is October 2008, at -21.41%.
Is BEL 20 up this year?+
BEL 20 is up 12.99% year to date, measured from its last close before 1 January.
What is BEL 20's 1-year return?+
+19.38% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is BEL 20's biggest drawdown?+
The deepest peak-to-trough fall on record is 67.9%, measured on month-end closes since 1991.
Which calendar month is historically best for BEL 20?+
April has the highest average return across every completed April since 1991. An average is not a forecast.
About BEL 20
BEL 20 isn't a company — it's the scoreboard: Belgium's benchmark index, tracked here like any other asset, so you can see how a whole market behaves when nobody's stock-picking — with price history on this site back to 1991. And the long game: $100 at its first close here (1991) would be about $491 today.
Did you know?
- Its best month on record was November 2020 at +20.5%; its worst, October 2008 at -21.41%.
- It has closed December in the green 26 out of 35 times — calendar astrology, but the fun kind.
Trivia for entertainment — the numbers come from our price data; the jokes don't.