The S&P 500 has shown an average annual return of 10% since 1928, despite experiencing an average intra-year drawdown of 16%. According to various analyses, drawdowns of 1%, 5%, 10%, 15%, 20%, and 30% occur at intervals of every year, 1.1 years, 1.6 years, 2.5 years, 4 years, and 10 years, respectively. Over the past 40 years, the median annual drawdown for the S&P 500 has been reported at 10%. As of early 2025, the S&P 500 had only two down years in the previous 15, with notable annual returns including +26.1% in 2023 and +24.9% in 2024. Recent commentary highlights that the S&P is currently down approximately 10%, a situation that has occurred in previous years without lasting impact on long-term performance.