What if you invested $1,000 in Semiconductors (SMH) in 2015? (Inflation-Adjusted)
SMH · 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 Semiconductors (SMH) in 2015 became $16,169 by 2026. Over those 11 years, cumulative CPI inflation reached 39% (BLS CPI-U). Restating the return in constant purchasing power, the real value of your gain in 2015 dollars is $11,632, a real annualized return of +24.5%.
Nominal final value
$16,169
+1516.9% total return
Real value (2015 dollars)
$11,632
+1063.2% real total return
Real annualized return
+24.5%
vs. +28.1% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in Semiconductors (SMH) since 2015, values in constant 2015 dollars
| Year | Nominal Value | Real Value (2015 $) |
|---|---|---|
| 2015 | $1,000 | $1,000 |
| 2016 | $963 | $950 |
| 2017 | $1,454 | $1,402 |
| 2018 | $2,110 | $1,973 |
| 2019 | $1,950 | $1,782 |
| 2020 | $2,819 | $2,535 |
| 2021 | $4,677 | $4,004 |
| 2022 | $5,714 | $4,481 |
| 2023 | $4,975 | $3,758 |
| 2024 | $7,847 | $5,758 |
| 2025 | $10,331 | $7,432 |
| 2026 | $17,163 | $12,347 |
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 2015 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.