Average Annual Endowment Returns, FY 2017

The average annual return on college and university endowments over the 10-year period ending with the 2017 fiscal year was 4.6 percent. The only institutions exceeding that overall average were those with the smallest and largest endowments, which had average annual returns of 5 percent over 10 years. The average annual return over five years was better, at 7.9 percent for all institutions participating in the Nacubo-Commonfund Study of Endowments in 2017. Colleges with endowments valued at more than $1 billion at the end of the 2017 fiscal year had the highest average annual return over five years, at 8.6 percent.

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Note: Data for the 2017 fiscal year came from 809 colleges and universities and their affiliated foundations in the United States, representing nearly $567 billion in endowment assets. Returns are reported net after fees. Average annual returns are calculated by adding the percentage returns for each fiscal year over a certain time period and dividing the sum by the number of years covered. More data are available here. Questions or comments on the Almanac should be sent to the Almanac editor.

Sources: National Association of College and University Business Officers and Commonfund Institute