What if you invested $1,000 in Semiconductors (SMH) in 2023? (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 2023 became $3,250 by 2026. Over those 3 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 $3,095, a real annualized return of +42.3%.
Nominal final value
$3,250
+225.0% total return
Real value (2023 dollars)
$3,095
+209.5% real total return
Real annualized return
+42.3%
vs. +43.7% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in Semiconductors (SMH) since 2023, values in constant 2023 dollars
| Year | Nominal Value | Real Value (2023 $) |
|---|---|---|
| 2023 | $1,000 | $1,000 |
| 2024 | $1,577 | $1,532 |
| 2025 | $2,077 | $1,978 |
| 2026 | $3,450 | $3,285 |
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.