Stocks, Bonds, Bills, and Inflation (SBBI) Data

The CFA Institute Research Foundation is providing CFA Institute members complimentary access to the to the Stocks, Bonds, Bills, and Inflation (SBBI®) monthly dataset. The dataset was originally produced by Roger G. Ibbotson and Rex A. Sinquefield in 1976 and in Research Foundation monographs in 1977, 1979, and 1982.

Using data beginning in 1926, the SBBI dataset includes monthly, quarterly, and yearly total returns and yields of most of the major U.S asset classes: large-cap stocks, small-cap stocks, corporate bonds, government bonds of several maturities, and inflation.

It measures arithmetic means (simple averages), geometric means (annualized returns), standard deviations (risk), correlations, wealth indexes, and variety of statistical techniques. There is much to analyze if SBBI data is used on its own, comparing various asset classes to one another, using single-period or multi-period data, running regressions or correlations, and putting data in real inflation-adjusted or in nominal terms. The data can also be mixed with other macro or single security data to understand the economic and financial environment.

CFA Institute Research Foundation has partnered with Duff & Phelps and Morningstar to provide the Stocks, Bonds, Bills, and Inflation® (SBBI®): 2021 Summary Edition to help investors and analysts understand how to calculate, interpret, and use this data.