What if you invested $1,000 in Emerging Markets (EEM) in 2003? (Inflation-Adjusted)
EEM · Index · Adjusted to 2026 dollars using BLS CPI-U data
View nominal (non-adjusted) versionNominal returns can be misleading over long periods. $1,000 in Emerging Markets (EEM) in 2003 became $7,432 by 2026. Over those 23 years, cumulative CPI inflation reached 83% (BLS CPI-U). Restating the return in constant purchasing power, the real value of your gain in 2003 dollars is $4,061, a real annualized return of +6.2%.
Nominal final value
$7,432
+643.2% total return
Real value (2003 dollars)
$4,061
+306.1% real total return
Real annualized return
+6.2%
vs. +9% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in Emerging Markets (EEM) since 2003, values in constant 2003 dollars
| Year | Nominal Value | Real Value (2003 $) |
|---|---|---|
| 2003 | $1,000 | $1,000 |
| 2004 | $1,601 | $1,557 |
| 2005 | $1,937 | $1,821 |
| 2006 | $2,950 | $2,692 |
| 2007 | $3,393 | $3,004 |
| 2008 | $4,116 | $3,509 |
| 2009 | $2,096 | $1,798 |
| 2010 | $3,600 | $3,010 |
| 2011 | $4,374 | $3,513 |
| 2012 | $4,099 | $3,226 |
| 2013 | $4,384 | $3,378 |
| 2014 | $3,871 | $2,940 |
| 2015 | $4,043 | $3,071 |
| 2016 | $3,241 | $2,426 |
| 2017 | $4,036 | $2,955 |
| 2018 | $5,625 | $3,996 |
| 2019 | $4,854 | $3,368 |
| 2020 | $4,880 | $3,334 |
| 2021 | $6,278 | $4,083 |
| 2022 | $5,863 | $3,492 |
| 2023 | $5,084 | $2,917 |
| 2024 | $4,845 | $2,701 |
| 2025 | $5,521 | $3,017 |
| 2026 | $7,822 | $4,274 |
Inflation adjustment uses BLS CPI-U annual data, deflated to 2026 dollars. Nominal stock data from Yahoo Finance (split-adjusted closing prices). Real values are expressed in constant 2003 purchasing-power dollars. For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. See our methodology and full disclaimer.