Nvidia alone accounts for 12% of S&P 500 five-year gain

Nvidia has been the largest single contributor to the S&P 500’s five-year performance. The stock added more than 10 percentage points to the index’s 84% total return over the period, equating to roughly 12% of the entire gain.

Apple’s contribution over the same stretch was about 5 percentage points, meaning Nvidia’s impact was more than double. Microsoft and Broadcom each added around 3 percentage points, while Alphabet added about 2 percentage points.

Combined, these five stocks account for roughly 25 percentage points, or about 30%, of the S&P 500’s total five-year return, underscoring how concentrated index gains have been in a small group of mega-cap names.