What if you invested $1,000 in Russell 2000 (IWM) in 2023? (Inflation-Adjusted)
IWM · 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 Russell 2000 (IWM) in 2023 became $1,565 by 2026. Over those 4 years, cumulative CPI inflation reached 5% (BLS CPI-U). Restating the return in constant purchasing power, the real value of your gain in 2023 dollars is $1,491, a real annualized return of +12.1%.
Nominal final value
$1,565
+56.5% total return
Real value (2023 dollars)
$1,491
+49.1% real total return
Real annualized return
+12.1%
vs. +13.7% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in Russell 2000 (IWM) since 2023, values in constant 2023 dollars
| Year | Nominal Value | Real Value (2023 $) |
|---|---|---|
| 2023 | $1,000 | $1,000 |
| 2024 | $1,022 | $993 |
| 2025 | $1,215 | $1,157 |
| 2026 | $1,408 | $1,341 |
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 2023 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.