Market history
Every calendar year since Jan 2, 2020, measured on an equal-weighted basket of the 30 largest companies on the Philippine Stock Exchange. This is not the PSEi. Of the 7 years shown, 5 are complete: the first is measured from its own opening close and the last is year-to-date.
Each complete year is measured from the previous year’s final close to its own. Hatched bars are partial years and are not comparable with the rest.
| Year | Return | Measured from | To | Trading days |
|---|---|---|---|---|
| 2020partial | -4.04% | Jan 2, 2020 | Dec 29, 2020 | 241 |
| 2021 | +15.54% | Dec 29, 2020 | Dec 31, 2021 | 248 |
| 2022 | -7.94% | Dec 31, 2021 | Dec 29, 2022 | 244 |
| 2023 | +0.65% | Dec 29, 2022 | Dec 29, 2023 | 242 |
| 2024 | +13.19% | Dec 29, 2023 | Dec 27, 2024 | 245 |
| 2025 | -0.68% | Dec 27, 2024 | Dec 29, 2025 | 243 |
| 2026partial | -4.18% | Dec 29, 2025 | Sep 9, 2026 | 169 |
₱10,000.00 spread equally across the 30 largest PSE companies on Jan 2, 2020 would be worth ₱11,065.49 on Sep 9, 2026, a total return of +10.65%.
Price return only. No dividends, no brokerage fees, no taxes. Dividends would push this figure up; fees and taxes would push it down. See what a trade actually costs.
Both figures are measured against the highest level this basket reached since January 2020, which is as far back as PSEye’s daily closes go. It is not an all-time high, and this page never claims one.
These two numbers answer the same question differently, and the gap between them is why the headline figure above is the compound one.
What an investment actually grew at, per year. This is the figure that matches the peso amount above.
The yearly percentages added up and divided. It reads higher because a 50% fall needs a 100% rise to undo, and averaging percentages ignores that. Median year: -0.7%.
The index is an equal-weighted basket of the 30largest PSE companies by market value, rebased to 10,000 at the start of the series. Each trading day’s move is the geometric mean of the closing-price changes of the basket members that traded both that day and the previous one, chained forward. Companies list and delist over five years, so a fixed membership list is not possible; chaining daily returns handles that without a late listing or a suspension moving the index.
A geometric mean rather than an arithmetic one, because averaging daily percentage changes arithmetically manufactures upward drift: the same construction measured +0.24% a day of pure bias on a flat market. A basket of 30 rather than the whole board, because the minimum tick size on sub-peso stocks manufactures drift of its own.
The basket is rebalanced every trading day. That is a construction choice, not a portfolio anyone holds, and it tends to flatter returns when stocks are volatile and move apart from each other. Compounding the same basket monthly instead gives a figure within about 1.5 percentage points a year from 2022 onward, but up to 4.6 points different in 2021. Read a single year’s figure as approximately right, not exact.
Every figure is a price return. Dividends are excluded, as are brokerage fees and taxes. 5 of the 7 years shown are complete calendar years; the first is measured from Jan 2, 2020 because no earlier close exists, and the last is year-to-date.
Good to know
Measured on PSEye's equal-weighted basket of the 30 largest PSE companies, the compound annual growth rate since January 2020 is shown on this page and has been low single digits. That is a real figure over a genuinely poor stretch for this market, not a long-run expectation: five to six years is a short window, it starts at the onset of the pandemic, and it excludes dividends, which have been a meaningful part of total return for Philippine stocks.
No. It is an equal-weighted basket of the 30 largest PSE companies by market value, constructed by PSEye. The real PSEi weights its 30 constituents by free-float market value, so a few very large companies dominate it, and the two can differ by several percentage points in a single year. PSEye holds only about a month of real PSEi index closes, so a year-by-year PSEi table here would be invented. What is the PSEi?
Because that is how far PSEye's own daily close history reaches. The database was seeded from 2020-01-02 and grows forward from there, so 2021 through 2025 are complete calendar years, while 2020 is measured from its first available close and the current year is year-to-date. Both partial years are marked as such rather than presented alongside the complete ones.
PSEye does not attribute causes, because no price data can establish one. What it can show is the size and shape of the underperformance: the year-by-year table on this page, how many of those years were negative, and how far below its post-2020 high the market currently sits. Those are the facts the question is usually reaching for. See today's session
Nobody can tell you that, and a site that claims to is guessing. What the record shows is how deep past falls were and that the market recovered from them, which is history rather than a forecast. Past falls being followed by recoveries does not mean the next one will be.
No. Every figure here is a price return, built from closing prices only. Philippine stocks have paid meaningful dividends over this period, so an investor who reinvested them would have done better than these numbers show. PSEye tracks dividend yields separately. See dividend yields
Not exactly. The basket is equal-weighted and rebalanced every trading day, which is a construction choice rather than a portfolio anyone holds. Rebalancing daily tends to flatter returns in a volatile, widely dispersed market. Compounding the same basket monthly instead of daily gives a figure up to about 4.6 percentage points different in a single year, which is the honest size of the methodology's effect.