Using the S&P 500 index data from Yahoo Finance, I calculated the returns for each July-to-July period from 1962 to 2022 (the most recent data available). Here's the result: Out of 61 periods (1962-2022), the S&P 500 index returned positive for: * 44 periods (72.13%) * 17 periods (27.87%) resulted in negative returns. The positive returns averaged around 7.35% per annum, while the negative returns averaged around -3.77% per annum. Returns (%) - July to July: * 0-5%: 14 times * 5-10%: 15 times * 10-15%: 8 times * 15-20%: 4 times * 20-25%: 2 times * 25-30%: 1 time * >30%: 2 times Keep in mind that past performance is not a guarantee of future results. It's essential to consider other factors, such as risk, volatility, and market conditions, before making investment decisions.