S&P/NZX 50 (NZ50)
Benchmark index · New Zealand · data since 2003-01-03 · last close 2026-09-09
S&P/NZX 50 (NZ50) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.9 | 2.2 | -5.9 | -0.1 | 2.6 | 2.9 | 0.6 | 1.6 | -0.7 | · | · | · |
| 2025 | -0.9 | -3.0 | -2.8 | -2.8 | 4.3 | 1.5 | 1.8 | 0.8 | 2.8 | 1.9 | -0.4 | 0.4 |
| 2024 | 0.6 | -1.2 | 3.5 | -1.2 | -0.8 | -1.3 | 5.9 | 0.3 | -0.2 | 1.7 | 3.4 | 0.3 |
| 2023 | 4.8 | -1.2 | 0.1 | 1.1 | -1.7 | 0.9 | 1.2 | -4.2 | -2.2 | -4.8 | 5.3 | 3.9 |
| 2022 | -8.0 | 0.8 | 0.1 | -1.9 | -4.8 | -3.9 | 5.7 | 0.9 | -4.6 | 2.5 | 1.9 | -0.7 |
| 2021 | 0.3 | -6.9 | 2.7 | 1.4 | -3.2 | 2.7 | -0.5 | 5.0 | 0.4 | -1.3 | -3.1 | 2.6 |
| 2020 | 2.0 | -3.9 | -13.0 | 7.5 | 3.3 | 5.2 | 2.4 | 1.8 | -1.6 | 2.9 | 5.7 | 2.5 |
| 2019 | 2.0 | 3.8 | 5.6 | 1.7 | 1.0 | 3.8 | 3.4 | -0.9 | 1.6 | -1.3 | 4.9 | 1.6 |
| 2018 | 0.5 | -0.8 | -0.7 | 1.5 | 2.5 | 3.3 | -0.2 | 4.4 | 0.4 | -6.4 | 0.8 | -0.1 |
| 2017 | 2.5 | 1.7 | 0.4 | 2.5 | 0.5 | 2.6 | 1.1 | 1.6 | 1.4 | 2.7 | 0.5 | 2.6 |
| 2016 | -2.4 | 1.0 | 8.4 | 1.0 | 3.2 | -2.0 | 6.5 | 0.7 | -0.5 | -5.4 | -0.9 | -0.2 |
| 2015 | 3.2 | 2.3 | -0.8 | -0.7 | 0.9 | -2.0 | 3.4 | -4.5 | -1.1 | 7.0 | 1.9 | 3.7 |
| 2014 | 2.9 | 2.4 | 3.0 | 1.8 | -1.0 | -0.7 | 0.5 | 1.1 | 0.6 | 2.5 | 0.7 | 2.6 |
| 2013 | 3.3 | 0.3 | 4.9 | 4.3 | -2.2 | -1.6 | 2.2 | 0.1 | 5.3 | 2.7 | -2.3 | -1.2 |
| 2012 | 0.7 | 0.8 | 5.6 | 1.3 | -1.9 | -2.5 | 4.3 | 3.4 | 4.6 | 3.2 | 2.3 | 0.4 |
| 2011 | 0.9 | 0.9 | 2.1 | 2.3 | 0.8 | -2.8 | -1.5 | -2.1 | 0.6 | -0.3 | -1.9 | 0.1 |
| 2010 | -2.0 | -0.3 | 3.5 | 0.6 | -6.8 | -2.9 | 2.1 | 0.1 | 4.7 | 4.0 | -1.2 | 1.4 |
| 2009 | 2.1 | -9.1 | 2.7 | 5.8 | 0.9 | 1.2 | 7.9 | 2.7 | 2.0 | 1.7 | -2.8 | 3.4 |
| 2008 | -9.2 | -2.4 | -3.1 | 4.5 | -0.0 | -11.8 | 4.4 | 0.5 | -7.8 | -8.7 | -3.9 | 0.2 |
| 2007 | 2.4 | -2.8 | 1.7 | 2.1 | 2.6 | -1.6 | -0.5 | -2.2 | 3.6 | -1.4 | -3.5 | -0.5 |
| 2006 | -0.6 | 1.6 | 8.7 | 2.5 | -4.8 | -0.8 | -0.1 | -2.0 | 2.3 | 5.4 | 2.1 | 5.0 |
| 2005 | 0.4 | 4.3 | -5.3 | -1.9 | 1.7 | 7.0 | 3.5 | -0.2 | 3.0 | -4.6 | 0.8 | 1.6 |
| 2004 | 0.9 | -1.3 | 6.3 | 1.5 | -1.6 | 4.1 | 3.4 | -1.4 | 3.1 | -0.8 | 6.3 | 2.5 |
| 2003 | -0.1 | -3.7 | 2.7 | 4.2 | 3.7 | 6.0 | -3.0 | 3.2 | 3.0 | 1.1 | 1.7 | 4.5 |
| Avg | 0.2 | -0.6 | 1.3 | 1.6 | -0.0 | 0.3 | 2.3 | 0.4 | 0.9 | 0.2 | 0.8 | 1.6 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
NZ50 seasonality — average by calendar month
S&P/NZX 50 has monthly history back to 2003. Its strongest month by median is March — positive in 17 of 24 years, median +2.4%, and higher in 5 of the last 9. December has the highest win rate, up in 18 of 23. Across its full record it has closed 65% of months higher, swings ±3.3% in an average month and has fallen 44.2% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | +0.2% | -0.6% | +1.3% | +1.6% | -0.0% | +0.3% | +2.3% | +0.5% | +0.9% | +0.2% | +0.8% | +1.6% |
| Win rate | 67%/24 | 50%/24 | 71%/24 | 75%/24 | 54%/24 | 50%/24 | 75%/24 | 67%/24 | 70%/23 | 57%/23 | 61%/23 | 78%/23 |
Win rate = share of positive months / sample size.
NZ50 risk & extremes
NZ50 drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
Frequently asked questions
What was S&P/NZX 50's best month?+
S&P/NZX 50's strongest completed month on record is March 2006, at +8.74%.
What was S&P/NZX 50's worst month?+
Its weakest completed month on record is March 2020, at -13.00%.
Is S&P/NZX 50 up this year?+
S&P/NZX 50 is up 2.00% year to date, measured from its last close before 1 January.
What is S&P/NZX 50's 1-year return?+
+4.27% 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 S&P/NZX 50's biggest drawdown?+
The deepest peak-to-trough fall on record is 44.2%, measured on month-end closes since 2003.
Which calendar month is historically best for S&P/NZX 50?+
July has the highest average return across every completed July since 2003. An average is not a forecast.
About S&P/NZX 50
S&P/NZX 50 isn't a company — it's the scoreboard: New Zealand'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 2003. And the long game: $100 at its first close here (2003) would be about $713 today.
Did you know?
- Its best month on record was March 2006 at +8.74%; its worst, March 2020 at -13%.
- It has closed December in the green 18 out of 23 times — calendar astrology, but the fun kind.
Trivia for entertainment — the numbers come from our price data; the jokes don't.