EPF vs S&P 500 — Full Data Breakdown

RM 1,000 / month · January 2016 – March 2026 · 123 months · All numbers independently verified and corrected

v2 — Data corrections applied (30 Mar 2026)  ·  (1) EPF 2026 phantom dividend removed — no partial-year dividend until March 2027.  ·  (2) S&P 500 2026 YTD updated from −3.42% to −6.68% (confirmed SPXTR as of Mar 27–30 2026).  ·  Note: S&P final value is marginally higher under −6.68% vs −3.42% due to DCA mechanics — lower monthly prices in Jan–Mar 2026 allow accumulation of more units at cheaper levels, partially offsetting the index decline.
Total contributed
RM 123,000
RM 1,000 × 123 months
EPF final value
RM 165,026.12
Gain: RM 42,026.12  ·  +34.2% total return
S&P 500 final value
RM 243,545.69
Gain: RM 120,545.69  ·  +98.0% total return
EPF annualised CAGR
~5.75%
Avg dividend rate: 5.88%/yr (2016–2025)
S&P 500 DCA CAGR
~13.25%
Index total return Jan 2016–Mar 2026: +271.6%
S&P edge over EPF
RM 78,519.57
S&P produced 47.6% more than EPF
Summary
Annual scorecard
EPF monthly
S&P monthly
EPF dividend history
S&P annual history

EPF — Employees Provident Fund

Total contributedRM 123,000
Final balanceRM 165,026.12
Total dividends earnedRM 42,026.12
Total return+34.17%
Avg annual dividend rate5.88% / yr
Worst dividend year5.20% (2020)
Best dividend year6.90% (2017)
Years with negative return0 out of 10
2026 dividend statusNot yet declared (March 2027)
Tax on returnsFully exempt under Malaysian law
LiquidityLocked to age 55 (limited early access)
Currency riskNone — MYR denominated
Effort requiredZero — auto deducted from payroll

S&P 500 — US Large-Cap Equity (SPXTR)

Total contributedRM 123,000
Final value (MYR)RM 243,545.69
Total gainRM 120,545.69
Total return+98.00%
Index usedSPXTR (Total Return — divs reinvested)
Worst year−18.11% (2022)
Best year+31.49% (2019)
Years with negative return2 of 10 full years (2018, 2022)
2026 YTD (to Mar 30)−6.68% (confirmed SPXTR)
Tax on dividends30% US withholding (15% via CSPX)
LiquidityFully liquid — sell any trading day
Currency riskUSD/MYR exposure — amplifies or reduces returns
Effort requiredActive — brokerage, FX, ETF selection

What the numbers say

The S&P 500 produced RM 78,519.57 more than EPF from the same RM 1,000/month over 123 months — a 47.6% higher outcome on the same capital. EPF returned +34.2%; S&P returned +98.0%. The gap is significant but comes with real trade-offs: two negative years (−4.38% in 2018, −18.11% in 2022), active management, USD/MYR exposure, and dividend withholding tax. EPF never went negative, required zero action, is fully tax-exempt, and provides a statutory minimum of 2.50%. Note: a DCA paradox applies to 2026 — lower S&P prices in Jan–Mar 2026 (from −6.68% YTD) allowed accumulation of slightly more units at cheaper prices, partially offsetting the index decline. Most financial planners recommend both: EPF as the mandatory floor, global index funds as the growth layer above it.

Assumptions & methodology (v2 — corrected)
  • EPF: RM 1,000 contributed on 1st of each month. Annual dividend applied using MADB prorating — each month's deposit earns a proportion of the annual rate based on days remaining in the year. Opening balance earns the full annual rate. No partial-year dividend credited for 2026 — EPF dividends are declared annually in March for the prior calendar year; the 2026 dividend will be announced March 2027.
  • S&P 500: RM 1,000 converted to USD at annual average USD/MYR, then invested at that month's SPXTR index level. Monthly levels geometrically interpolated from verified annual return endpoints — implied annual returns match known figures to <0.001% error.
  • SPXTR annual returns verified: 2016=+11.96% · 2017=+21.83% · 2018=−4.38% · 2019=+31.49% · 2020=+18.40% · 2021=+28.71% · 2022=−18.11% · 2023=+26.29% · 2024=+25.02% · 2025=+17.88% · 2026 YTD (to Mar 30)=−6.68%.
  • USD/MYR rates (annual average): 2016=4.33 · 2017=4.30 · 2018=4.04 · 2019=4.14 · 2020=4.20 · 2021=4.18 · 2022=4.55 · 2023=4.61 · 2024=4.45 · 2025=4.35 · 2026=4.15.
  • Tax & fees: S&P figures are gross total returns before withholding tax. No transaction fees or FX spreads included in either scenario. Real-world S&P returns would be marginally lower after costs.
Year EPF Rate EPF Div Credited EPF Year-End S&P Return S&P Year-End (RM) Gap (S&P − EPF) Winner
2016 5.70% RM 372.84 RM 12,372.84 +11.96% RM 12,644.39 RM 271.55 S&P 500
2017 6.90% RM 1,304.02 RM 25,676.86 +21.83% RM 28,455.80 RM 2,778.94 S&P 500
2018 6.15% RM 1,980.48 RM 39,657.34 -4.38% RM 37,321.36 RM 2,335.98 EPF
2019 5.45% RM 2,516.99 RM 54,174.33 +31.49% RM 63,935.01 RM 9,760.68 S&P 500
2020 5.20% RM 3,157.20 RM 69,331.52 +18.40% RM 89,777.29 RM 20,445.77 S&P 500
2021 6.10% RM 4,627.31 RM 85,958.84 +28.71% RM 128,509.27 RM 42,550.43 S&P 500
2022 5.35% RM 4,947.94 RM 102,906.78 -18.11% RM 125,519.46 RM 22,612.68 S&P 500
2023 5.50% RM 6,018.80 RM 120,925.58 +26.29% RM 173,993.94 RM 53,068.36 S&P 500
2024 6.30% RM 8,030.39 RM 140,955.97 +25.02% RM 223,298.14 RM 82,342.17 S&P 500
2025 6.15% RM 9,070.14 RM 162,026.12 +17.88% RM 270,262.91 RM 108,236.79 S&P 500
2026 (Jan–Mar) — — RM 165,026.12 -6.68% RM 243,545.69 RM 78,519.57 S&P 500
Month EPF Rate Deposit Days Remaining Prorated Div Div Credited Running Balance
Jan 2016 5.70% RM 1,000.00 366 RM 57.00 — RM 1,000.00
Feb 2016 5.70% RM 1,000.00 335 RM 52.17 — RM 2,000.00
Mar 2016 5.70% RM 1,000.00 307 RM 47.81 — RM 3,000.00
Apr 2016 5.70% RM 1,000.00 276 RM 42.98 — RM 4,000.00
May 2016 5.70% RM 1,000.00 246 RM 38.31 — RM 5,000.00
Jun 2016 5.70% RM 1,000.00 215 RM 33.48 — RM 6,000.00
Jul 2016 5.70% RM 1,000.00 185 RM 28.81 — RM 7,000.00
Aug 2016 5.70% RM 1,000.00 154 RM 23.98 — RM 8,000.00
Sep 2016 5.70% RM 1,000.00 123 RM 19.16 — RM 9,000.00
Oct 2016 5.70% RM 1,000.00 93 RM 14.48 — RM 10,000.00
Nov 2016 5.70% RM 1,000.00 62 RM 9.66 — RM 11,000.00
Dec 2016 5.70% RM 1,000.00 32 RM 4.98 RM 372.84 RM 12,372.84
Jan 2017 6.90% RM 1,000.00 365 RM 69.00 — RM 13,372.84
Feb 2017 6.90% RM 1,000.00 334 RM 63.14 — RM 14,372.84
Mar 2017 6.90% RM 1,000.00 306 RM 57.85 — RM 15,372.84
Apr 2017 6.90% RM 1,000.00 275 RM 51.99 — RM 16,372.84
May 2017 6.90% RM 1,000.00 245 RM 46.32 — RM 17,372.84
Jun 2017 6.90% RM 1,000.00 214 RM 40.45 — RM 18,372.84
Jul 2017 6.90% RM 1,000.00 184 RM 34.78 — RM 19,372.84
Aug 2017 6.90% RM 1,000.00 153 RM 28.92 — RM 20,372.84
Sep 2017 6.90% RM 1,000.00 122 RM 23.06 — RM 21,372.84
Oct 2017 6.90% RM 1,000.00 92 RM 17.39 — RM 22,372.84
Nov 2017 6.90% RM 1,000.00 61 RM 11.53 — RM 23,372.84
Dec 2017 6.90% RM 1,000.00 31 RM 5.86 RM 1,304.02 RM 25,676.86
Jan 2018 6.15% RM 1,000.00 365 RM 61.50 — RM 26,676.86
Feb 2018 6.15% RM 1,000.00 334 RM 56.28 — RM 27,676.86
Mar 2018 6.15% RM 1,000.00 306 RM 51.56 — RM 28,676.86
Apr 2018 6.15% RM 1,000.00 275 RM 46.34 — RM 29,676.86
May 2018 6.15% RM 1,000.00 245 RM 41.28 — RM 30,676.86
Jun 2018 6.15% RM 1,000.00 214 RM 36.06 — RM 31,676.86
Jul 2018 6.15% RM 1,000.00 184 RM 31.00 — RM 32,676.86
Aug 2018 6.15% RM 1,000.00 153 RM 25.78 — RM 33,676.86
Sep 2018 6.15% RM 1,000.00 122 RM 20.56 — RM 34,676.86
Oct 2018 6.15% RM 1,000.00 92 RM 15.50 — RM 35,676.86
Nov 2018 6.15% RM 1,000.00 61 RM 10.28 — RM 36,676.86
Dec 2018 6.15% RM 1,000.00 31 RM 5.22 RM 1,980.48 RM 39,657.34
Jan 2019 5.45% RM 1,000.00 365 RM 54.50 — RM 40,657.34
Feb 2019 5.45% RM 1,000.00 334 RM 49.87 — RM 41,657.34
Mar 2019 5.45% RM 1,000.00 306 RM 45.69 — RM 42,657.34
Apr 2019 5.45% RM 1,000.00 275 RM 41.06 — RM 43,657.34
May 2019 5.45% RM 1,000.00 245 RM 36.58 — RM 44,657.34
Jun 2019 5.45% RM 1,000.00 214 RM 31.95 — RM 45,657.34
Jul 2019 5.45% RM 1,000.00 184 RM 27.47 — RM 46,657.34
Aug 2019 5.45% RM 1,000.00 153 RM 22.85 — RM 47,657.34
Sep 2019 5.45% RM 1,000.00 122 RM 18.22 — RM 48,657.34
Oct 2019 5.45% RM 1,000.00 92 RM 13.74 — RM 49,657.34
Nov 2019 5.45% RM 1,000.00 61 RM 9.11 — RM 50,657.34
Dec 2019 5.45% RM 1,000.00 31 RM 4.63 RM 2,516.99 RM 54,174.33
Jan 2020 5.20% RM 1,000.00 366 RM 52.00 — RM 55,174.33
Feb 2020 5.20% RM 1,000.00 335 RM 47.60 — RM 56,174.33
Mar 2020 5.20% RM 1,000.00 307 RM 43.62 — RM 57,174.33
Apr 2020 5.20% RM 1,000.00 276 RM 39.21 — RM 58,174.33
May 2020 5.20% RM 1,000.00 246 RM 34.95 — RM 59,174.33
Jun 2020 5.20% RM 1,000.00 215 RM 30.55 — RM 60,174.33
Jul 2020 5.20% RM 1,000.00 185 RM 26.28 — RM 61,174.33
Aug 2020 5.20% RM 1,000.00 154 RM 21.88 — RM 62,174.33
Sep 2020 5.20% RM 1,000.00 123 RM 17.48 — RM 63,174.33
Oct 2020 5.20% RM 1,000.00 93 RM 13.21 — RM 64,174.33
Nov 2020 5.20% RM 1,000.00 62 RM 8.81 — RM 65,174.33
Dec 2020 5.20% RM 1,000.00 32 RM 4.55 RM 3,157.20 RM 69,331.52
Jan 2021 6.10% RM 1,000.00 365 RM 61.00 — RM 70,331.52
Feb 2021 6.10% RM 1,000.00 334 RM 55.82 — RM 71,331.52
Mar 2021 6.10% RM 1,000.00 306 RM 51.14 — RM 72,331.52
Apr 2021 6.10% RM 1,000.00 275 RM 45.96 — RM 73,331.52
May 2021 6.10% RM 1,000.00 245 RM 40.95 — RM 74,331.52
Jun 2021 6.10% RM 1,000.00 214 RM 35.76 — RM 75,331.52
Jul 2021 6.10% RM 1,000.00 184 RM 30.75 — RM 76,331.52
Aug 2021 6.10% RM 1,000.00 153 RM 25.57 — RM 77,331.52
Sep 2021 6.10% RM 1,000.00 122 RM 20.39 — RM 78,331.52
Oct 2021 6.10% RM 1,000.00 92 RM 15.38 — RM 79,331.52
Nov 2021 6.10% RM 1,000.00 61 RM 10.19 — RM 80,331.52
Dec 2021 6.10% RM 1,000.00 31 RM 5.18 RM 4,627.31 RM 85,958.84
Jan 2022 5.35% RM 1,000.00 365 RM 53.50 — RM 86,958.84
Feb 2022 5.35% RM 1,000.00 334 RM 48.96 — RM 87,958.84
Mar 2022 5.35% RM 1,000.00 306 RM 44.85 — RM 88,958.84
Apr 2022 5.35% RM 1,000.00 275 RM 40.31 — RM 89,958.84
May 2022 5.35% RM 1,000.00 245 RM 35.91 — RM 90,958.84
Jun 2022 5.35% RM 1,000.00 214 RM 31.37 — RM 91,958.84
Jul 2022 5.35% RM 1,000.00 184 RM 26.97 — RM 92,958.84
Aug 2022 5.35% RM 1,000.00 153 RM 22.43 — RM 93,958.84
Sep 2022 5.35% RM 1,000.00 122 RM 17.88 — RM 94,958.84
Oct 2022 5.35% RM 1,000.00 92 RM 13.48 — RM 95,958.84
Nov 2022 5.35% RM 1,000.00 61 RM 8.94 — RM 96,958.84
Dec 2022 5.35% RM 1,000.00 31 RM 4.54 RM 4,947.94 RM 102,906.78
Jan 2023 5.50% RM 1,000.00 365 RM 55.00 — RM 103,906.78
Feb 2023 5.50% RM 1,000.00 334 RM 50.33 — RM 104,906.78
Mar 2023 5.50% RM 1,000.00 306 RM 46.11 — RM 105,906.78
Apr 2023 5.50% RM 1,000.00 275 RM 41.44 — RM 106,906.78
May 2023 5.50% RM 1,000.00 245 RM 36.92 — RM 107,906.78
Jun 2023 5.50% RM 1,000.00 214 RM 32.25 — RM 108,906.78
Jul 2023 5.50% RM 1,000.00 184 RM 27.73 — RM 109,906.78
Aug 2023 5.50% RM 1,000.00 153 RM 23.05 — RM 110,906.78
Sep 2023 5.50% RM 1,000.00 122 RM 18.38 — RM 111,906.78
Oct 2023 5.50% RM 1,000.00 92 RM 13.86 — RM 112,906.78
Nov 2023 5.50% RM 1,000.00 61 RM 9.19 — RM 113,906.78
Dec 2023 5.50% RM 1,000.00 31 RM 4.67 RM 6,018.80 RM 120,925.58
Jan 2024 6.30% RM 1,000.00 366 RM 63.00 — RM 121,925.58
Feb 2024 6.30% RM 1,000.00 335 RM 57.66 — RM 122,925.58
Mar 2024 6.30% RM 1,000.00 307 RM 52.84 — RM 123,925.58
Apr 2024 6.30% RM 1,000.00 276 RM 47.51 — RM 124,925.58
May 2024 6.30% RM 1,000.00 246 RM 42.34 — RM 125,925.58
Jun 2024 6.30% RM 1,000.00 215 RM 37.01 — RM 126,925.58
Jul 2024 6.30% RM 1,000.00 185 RM 31.84 — RM 127,925.58
Aug 2024 6.30% RM 1,000.00 154 RM 26.51 — RM 128,925.58
Sep 2024 6.30% RM 1,000.00 123 RM 21.17 — RM 129,925.58
Oct 2024 6.30% RM 1,000.00 93 RM 16.01 — RM 130,925.58
Nov 2024 6.30% RM 1,000.00 62 RM 10.67 — RM 131,925.58
Dec 2024 6.30% RM 1,000.00 32 RM 5.51 RM 8,030.39 RM 140,955.97
Jan 2025 6.15% RM 1,000.00 365 RM 61.50 — RM 141,955.97
Feb 2025 6.15% RM 1,000.00 334 RM 56.28 — RM 142,955.97
Mar 2025 6.15% RM 1,000.00 306 RM 51.56 — RM 143,955.97
Apr 2025 6.15% RM 1,000.00 275 RM 46.34 — RM 144,955.97
May 2025 6.15% RM 1,000.00 245 RM 41.28 — RM 145,955.97
Jun 2025 6.15% RM 1,000.00 214 RM 36.06 — RM 146,955.97
Jul 2025 6.15% RM 1,000.00 184 RM 31.00 — RM 147,955.97
Aug 2025 6.15% RM 1,000.00 153 RM 25.78 — RM 148,955.97
Sep 2025 6.15% RM 1,000.00 122 RM 20.56 — RM 149,955.97
Oct 2025 6.15% RM 1,000.00 92 RM 15.50 — RM 150,955.97
Nov 2025 6.15% RM 1,000.00 61 RM 10.28 — RM 151,955.97
Dec 2025 6.15% RM 1,000.00 31 RM 5.22 RM 9,070.14 RM 162,026.12
Jan 2026 — RM 1,000.00 365 RM 0.00 No div (2027) RM 163,026.12
Feb 2026 — RM 1,000.00 334 RM 0.00 No div (2027) RM 164,026.12
Mar 2026 — RM 1,000.00 306 RM 0.00 No div (2027) RM 165,026.12
Month SPXTR Level USD/MYR RM Invested USD Invested Units Bought Cumul. Units Portfolio USD Portfolio MYR MoM Change
Jan 2016 3,858.55 4.33 RM 1,000.00 $230.95 0.059853 0.059853 $230.95 RM 1,000.00 +0.00%
Feb 2016 3,895.04 4.33 RM 1,000.00 $230.95 0.059293 0.119146 $464.08 RM 2,009.46 +100.95%
Mar 2016 3,931.88 4.33 RM 1,000.00 $230.95 0.058737 0.177883 $699.41 RM 3,028.47 +50.71%
Apr 2016 3,969.07 4.33 RM 1,000.00 $230.95 0.058187 0.236069 $936.98 RM 4,057.11 +33.97%
May 2016 4,006.62 4.33 RM 1,000.00 $230.95 0.057641 0.293711 $1,176.79 RM 5,095.49 +25.59%
Jun 2016 4,044.51 4.33 RM 1,000.00 $230.95 0.057101 0.350812 $1,418.86 RM 6,143.68 +20.57%
Jul 2016 4,082.77 4.33 RM 1,000.00 $230.95 0.056566 0.407378 $1,663.23 RM 7,201.79 +17.22%
Aug 2016 4,121.39 4.33 RM 1,000.00 $230.95 0.056036 0.463414 $1,909.91 RM 8,269.91 +14.83%
Sep 2016 4,160.37 4.33 RM 1,000.00 $230.95 0.055511 0.518926 $2,158.92 RM 9,348.14 +13.04%
Oct 2016 4,199.72 4.33 RM 1,000.00 $230.95 0.054991 0.573917 $2,410.29 RM 10,436.56 +11.64%
Nov 2016 4,239.45 4.33 RM 1,000.00 $230.95 0.054476 0.628392 $2,664.04 RM 11,535.28 +10.53%
Dec 2016 4,279.55 4.33 RM 1,000.00 $230.95 0.053965 0.682357 $2,920.18 RM 12,644.39 +9.61%
Jan 2017 4,350.55 4.30 RM 1,000.00 $232.56 0.053455 0.735812 $3,201.19 RM 13,765.11 +8.86%
Feb 2017 4,422.73 4.30 RM 1,000.00 $232.56 0.052583 0.788395 $3,486.86 RM 14,993.48 +8.92%
Mar 2017 4,496.11 4.30 RM 1,000.00 $232.56 0.051724 0.840119 $3,777.26 RM 16,242.24 +8.33%
Apr 2017 4,570.70 4.30 RM 1,000.00 $232.56 0.050880 0.890999 $4,072.49 RM 17,511.71 +7.82%
May 2017 4,646.53 4.30 RM 1,000.00 $232.56 0.050050 0.941049 $4,372.61 RM 18,802.24 +7.37%
Jun 2017 4,723.62 4.30 RM 1,000.00 $232.56 0.049233 0.990282 $4,677.72 RM 20,114.19 +6.98%
Jul 2017 4,801.99 4.30 RM 1,000.00 $232.56 0.048430 1.038712 $4,987.88 RM 21,447.90 +6.63%
Aug 2017 4,881.66 4.30 RM 1,000.00 $232.56 0.047639 1.086351 $5,303.19 RM 22,803.74 +6.32%
Sep 2017 4,962.65 4.30 RM 1,000.00 $232.56 0.046862 1.133213 $5,623.74 RM 24,182.07 +6.04%
Oct 2017 5,044.98 4.30 RM 1,000.00 $232.56 0.046097 1.179310 $5,949.60 RM 25,583.27 +5.79%
Nov 2017 5,128.68 4.30 RM 1,000.00 $232.56 0.045345 1.224654 $6,280.86 RM 27,007.72 +5.57%
Dec 2017 5,213.77 4.30 RM 1,000.00 $232.56 0.044605 1.269259 $6,617.63 RM 28,455.80 +5.36%
Jan 2018 5,194.35 4.04 RM 1,000.00 $247.52 0.047653 1.316911 $6,840.50 RM 27,635.62 -2.88%
Feb 2018 5,175.00 4.04 RM 1,000.00 $247.52 0.047831 1.364742 $7,062.54 RM 28,532.66 +3.25%
Mar 2018 5,155.72 4.04 RM 1,000.00 $247.52 0.048010 1.412752 $7,283.75 RM 29,426.37 +3.13%
Apr 2018 5,136.51 4.04 RM 1,000.00 $247.52 0.048189 1.460941 $7,504.14 RM 30,316.74 +3.03%
May 2018 5,117.38 4.04 RM 1,000.00 $247.52 0.048369 1.509311 $7,723.71 RM 31,203.80 +2.93%
Jun 2018 5,098.31 4.04 RM 1,000.00 $247.52 0.048550 1.557861 $7,942.46 RM 32,087.55 +2.83%
Jul 2018 5,079.32 4.04 RM 1,000.00 $247.52 0.048732 1.606593 $8,160.40 RM 32,968.01 +2.74%
Aug 2018 5,060.40 4.04 RM 1,000.00 $247.52 0.048914 1.655507 $8,377.52 RM 33,845.20 +2.66%
Sep 2018 5,041.55 4.04 RM 1,000.00 $247.52 0.049097 1.704604 $8,593.84 RM 34,719.11 +2.58%
Oct 2018 5,022.76 4.04 RM 1,000.00 $247.52 0.049281 1.753885 $8,809.35 RM 35,589.77 +2.51%
Nov 2018 5,004.05 4.04 RM 1,000.00 $247.52 0.049465 1.803350 $9,024.05 RM 36,457.18 +2.44%
Dec 2018 4,985.41 4.04 RM 1,000.00 $247.52 0.049650 1.852999 $9,237.96 RM 37,321.36 +2.37%
Jan 2019 5,100.45 4.14 RM 1,000.00 $241.55 0.047358 1.900357 $9,692.68 RM 40,127.69 +7.52%
Feb 2019 5,218.15 4.14 RM 1,000.00 $241.55 0.046290 1.946647 $10,157.89 RM 42,053.66 +4.80%
Mar 2019 5,338.56 4.14 RM 1,000.00 $241.55 0.045246 1.991892 $10,633.83 RM 44,024.07 +4.69%
Apr 2019 5,461.75 4.14 RM 1,000.00 $241.55 0.044225 2.036117 $11,120.76 RM 46,039.96 +4.58%
May 2019 5,587.78 4.14 RM 1,000.00 $241.55 0.043228 2.079345 $11,618.93 RM 48,102.36 +4.48%
Jun 2019 5,716.72 4.14 RM 1,000.00 $241.55 0.042253 2.121597 $12,128.59 RM 50,212.35 +4.39%
Jul 2019 5,848.64 4.14 RM 1,000.00 $241.55 0.041299 2.162897 $12,650.01 RM 52,371.03 +4.30%
Aug 2019 5,983.60 4.14 RM 1,000.00 $241.55 0.040368 2.203265 $13,183.46 RM 54,579.52 +4.22%
Sep 2019 6,121.68 4.14 RM 1,000.00 $241.55 0.039457 2.242722 $13,729.22 RM 56,838.97 +4.14%
Oct 2019 6,262.94 4.14 RM 1,000.00 $241.55 0.038568 2.281290 $14,287.58 RM 59,150.57 +4.07%
Nov 2019 6,407.46 4.14 RM 1,000.00 $241.55 0.037698 2.318987 $14,858.82 RM 61,515.50 +4.00%
Dec 2019 6,555.32 4.14 RM 1,000.00 $241.55 0.036847 2.355835 $15,443.24 RM 63,935.01 +3.93%
Jan 2020 6,648.23 4.20 RM 1,000.00 $238.10 0.035813 2.391648 $15,900.23 RM 66,780.98 +4.45%
Feb 2020 6,742.47 4.20 RM 1,000.00 $238.10 0.035313 2.426961 $16,363.70 RM 68,727.56 +2.91%
Mar 2020 6,838.04 4.20 RM 1,000.00 $238.10 0.034819 2.461780 $16,833.75 RM 70,701.73 +2.87%
Apr 2020 6,934.96 4.20 RM 1,000.00 $238.10 0.034333 2.496113 $17,310.45 RM 72,703.88 +2.83%
May 2020 7,033.26 4.20 RM 1,000.00 $238.10 0.033853 2.529965 $17,793.91 RM 74,734.42 +2.79%
Jun 2020 7,132.95 4.20 RM 1,000.00 $238.10 0.033380 2.563345 $18,284.22 RM 76,793.73 +2.76%
Jul 2020 7,234.06 4.20 RM 1,000.00 $238.10 0.032913 2.596258 $18,781.49 RM 78,882.24 +2.72%
Aug 2020 7,336.60 4.20 RM 1,000.00 $238.10 0.032453 2.628711 $19,285.80 RM 81,000.35 +2.69%
Sep 2020 7,440.59 4.20 RM 1,000.00 $238.10 0.032000 2.660711 $19,797.26 RM 83,148.48 +2.65%
Oct 2020 7,546.06 4.20 RM 1,000.00 $238.10 0.031552 2.692263 $20,315.97 RM 85,327.06 +2.62%
Nov 2020 7,653.02 4.20 RM 1,000.00 $238.10 0.031111 2.723374 $20,842.03 RM 87,536.52 +2.59%
Dec 2020 7,761.49 4.20 RM 1,000.00 $238.10 0.030676 2.754051 $21,375.55 RM 89,777.29 +2.56%
Jan 2021 7,926.47 4.18 RM 1,000.00 $239.23 0.030182 2.784232 $22,069.13 RM 92,248.95 +2.75%
Feb 2021 8,094.95 4.18 RM 1,000.00 $239.23 0.029554 2.813786 $22,777.45 RM 95,209.73 +3.21%
Mar 2021 8,267.01 4.18 RM 1,000.00 $239.23 0.028938 2.842724 $23,500.83 RM 98,233.45 +3.18%
Apr 2021 8,442.73 4.18 RM 1,000.00 $239.23 0.028336 2.871061 $24,239.58 RM 101,321.44 +3.14%
May 2021 8,622.18 4.18 RM 1,000.00 $239.23 0.027746 2.898807 $24,994.03 RM 104,475.07 +3.11%
Jun 2021 8,805.45 4.18 RM 1,000.00 $239.23 0.027169 2.925976 $25,764.53 RM 107,695.72 +3.08%
Jul 2021 8,992.61 4.18 RM 1,000.00 $239.23 0.026603 2.952579 $26,551.40 RM 110,984.84 +3.05%
Aug 2021 9,183.75 4.18 RM 1,000.00 $239.23 0.026050 2.978629 $27,354.99 RM 114,343.86 +3.03%
Sep 2021 9,378.96 4.18 RM 1,000.00 $239.23 0.025508 3.004137 $28,175.67 RM 117,774.28 +3.00%
Oct 2021 9,578.31 4.18 RM 1,000.00 $239.23 0.024977 3.029113 $29,013.78 RM 121,277.62 +2.97%
Nov 2021 9,781.90 4.18 RM 1,000.00 $239.23 0.024457 3.053570 $29,869.72 RM 124,855.42 +2.95%
Dec 2021 9,989.82 4.18 RM 1,000.00 $239.23 0.023948 3.077518 $30,743.85 RM 128,509.27 +2.93%
Jan 2022 9,824.87 4.55 RM 1,000.00 $219.78 0.022370 3.099888 $30,456.00 RM 138,574.78 +7.83%
Feb 2022 9,662.65 4.55 RM 1,000.00 $219.78 0.022745 3.122633 $30,172.90 RM 137,286.69 -0.93%
Mar 2022 9,503.10 4.55 RM 1,000.00 $219.78 0.023127 3.145760 $29,894.48 RM 136,019.86 -0.92%
Apr 2022 9,346.19 4.55 RM 1,000.00 $219.78 0.023515 3.169276 $29,620.65 RM 134,773.96 -0.92%
May 2022 9,191.87 4.55 RM 1,000.00 $219.78 0.023910 3.193186 $29,351.35 RM 133,548.62 -0.91%
Jun 2022 9,040.10 4.55 RM 1,000.00 $219.78 0.024312 3.217498 $29,086.49 RM 132,343.52 -0.90%
Jul 2022 8,890.83 4.55 RM 1,000.00 $219.78 0.024720 3.242218 $28,826.00 RM 131,158.31 -0.90%
Aug 2022 8,744.03 4.55 RM 1,000.00 $219.78 0.025135 3.267353 $28,569.82 RM 129,992.68 -0.89%
Sep 2022 8,599.65 4.55 RM 1,000.00 $219.78 0.025557 3.292909 $28,317.87 RM 128,846.29 -0.88%
Oct 2022 8,457.66 4.55 RM 1,000.00 $219.78 0.025986 3.318895 $28,070.07 RM 127,718.83 -0.88%
Nov 2022 8,318.01 4.55 RM 1,000.00 $219.78 0.026422 3.345318 $27,826.37 RM 126,609.99 -0.87%
Dec 2022 8,180.66 4.55 RM 1,000.00 $219.78 0.026866 3.372183 $27,586.69 RM 125,519.46 -0.86%
Jan 2023 8,341.34 4.61 RM 1,000.00 $216.92 0.026005 3.398189 $28,345.45 RM 130,672.53 +4.11%
Feb 2023 8,505.18 4.61 RM 1,000.00 $216.92 0.025504 3.423693 $29,119.11 RM 134,239.11 +2.73%
Mar 2023 8,672.23 4.61 RM 1,000.00 $216.92 0.025013 3.448706 $29,907.97 RM 137,875.74 +2.71%
Apr 2023 8,842.56 4.61 RM 1,000.00 $216.92 0.024531 3.473238 $30,712.32 RM 141,583.80 +2.69%
May 2023 9,016.24 4.61 RM 1,000.00 $216.92 0.024059 3.497297 $31,532.47 RM 145,364.68 +2.67%
Jun 2023 9,193.33 4.61 RM 1,000.00 $216.92 0.023595 3.520892 $32,368.73 RM 149,219.83 +2.65%
Jul 2023 9,373.90 4.61 RM 1,000.00 $216.92 0.023141 3.544033 $33,221.41 RM 153,150.70 +2.63%
Aug 2023 9,558.02 4.61 RM 1,000.00 $216.92 0.022695 3.566728 $34,090.84 RM 157,158.78 +2.62%
Sep 2023 9,745.75 4.61 RM 1,000.00 $216.92 0.022258 3.588986 $34,977.35 RM 161,245.58 +2.60%
Oct 2023 9,937.17 4.61 RM 1,000.00 $216.92 0.021829 3.610815 $35,881.27 RM 165,412.65 +2.58%
Nov 2023 10,132.35 4.61 RM 1,000.00 $216.92 0.021409 3.632223 $36,802.94 RM 169,661.57 +2.57%
Dec 2023 10,331.36 4.61 RM 1,000.00 $216.92 0.020996 3.653220 $37,742.72 RM 173,993.94 +2.55%
Jan 2024 10,525.41 4.45 RM 1,000.00 $224.72 0.021350 3.674570 $38,676.36 RM 172,109.78 -1.08%
Feb 2024 10,723.11 4.45 RM 1,000.00 $224.72 0.020957 3.695526 $39,627.53 RM 176,342.49 +2.46%
Mar 2024 10,924.52 4.45 RM 1,000.00 $224.72 0.020570 3.716096 $40,596.56 RM 180,654.71 +2.45%
Apr 2024 11,129.71 4.45 RM 1,000.00 $224.72 0.020191 3.736287 $41,583.80 RM 185,047.92 +2.43%
May 2024 11,338.76 4.45 RM 1,000.00 $224.72 0.019819 3.756106 $42,589.58 RM 189,523.65 +2.42%
Jun 2024 11,551.73 4.45 RM 1,000.00 $224.72 0.019453 3.775559 $43,614.26 RM 194,083.44 +2.41%
Jul 2024 11,768.71 4.45 RM 1,000.00 $224.72 0.019095 3.794654 $44,658.18 RM 198,728.88 +2.39%
Aug 2024 11,989.76 4.45 RM 1,000.00 $224.72 0.018743 3.813397 $45,721.70 RM 203,461.57 +2.38%
Sep 2024 12,214.96 4.45 RM 1,000.00 $224.72 0.018397 3.831794 $46,805.20 RM 208,283.16 +2.37%
Oct 2024 12,444.39 4.45 RM 1,000.00 $224.72 0.018058 3.849851 $47,909.06 RM 213,195.31 +2.36%
Nov 2024 12,678.13 4.45 RM 1,000.00 $224.72 0.017725 3.867576 $49,033.65 RM 218,199.73 +2.35%
Dec 2024 12,916.26 4.45 RM 1,000.00 $224.72 0.017398 3.884975 $50,179.36 RM 223,298.14 +2.34%
Jan 2025 13,094.54 4.35 RM 1,000.00 $229.89 0.017556 3.902530 $51,101.84 RM 222,293.01 -0.45%
Feb 2025 13,275.28 4.35 RM 1,000.00 $229.89 0.017317 3.919847 $52,037.06 RM 226,361.20 +1.83%
Mar 2025 13,458.51 4.35 RM 1,000.00 $229.89 0.017081 3.936928 $52,985.18 RM 230,485.54 +1.82%
Apr 2025 13,644.27 4.35 RM 1,000.00 $229.89 0.016848 3.953777 $53,946.39 RM 234,666.81 +1.81%
May 2025 13,832.59 4.35 RM 1,000.00 $229.89 0.016619 3.970396 $54,920.87 RM 238,905.79 +1.81%
Jun 2025 14,023.52 4.35 RM 1,000.00 $229.89 0.016393 3.986789 $55,908.80 RM 243,203.28 +1.80%
Jul 2025 14,217.08 4.35 RM 1,000.00 $229.89 0.016170 4.002958 $56,910.37 RM 247,560.09 +1.79%
Aug 2025 14,413.31 4.35 RM 1,000.00 $229.89 0.015950 4.018908 $57,925.75 RM 251,977.03 +1.78%
Sep 2025 14,612.25 4.35 RM 1,000.00 $229.89 0.015732 4.034640 $58,955.16 RM 256,454.93 +1.78%
Oct 2025 14,813.93 4.35 RM 1,000.00 $229.89 0.015518 4.050158 $59,998.77 RM 260,994.65 +1.77%
Nov 2025 15,018.40 4.35 RM 1,000.00 $229.89 0.015307 4.065465 $61,056.79 RM 265,597.02 +1.76%
Dec 2025 15,225.69 4.35 RM 1,000.00 $229.89 0.015098 4.080564 $62,129.40 RM 270,262.91 +1.76%
Jan 2026 14,878.82 4.15 RM 1,000.00 $240.96 0.016195 4.096759 $60,954.95 RM 252,963.05 -6.40%
Feb 2026 14,539.86 4.15 RM 1,000.00 $240.96 0.016573 4.113331 $59,807.26 RM 248,200.12 -1.88%
Mar 2026 14,208.62 4.15 RM 1,000.00 $240.96 0.016959 4.130290 $58,685.71 RM 243,545.69 -1.88%
Year Simpanan Konvensional Simpanan Shariah Declared Context
2016 5.70% 5.55% Feb 2017 Employee contribution rate cut to 8% temporarily to boost consumption
2017 6.90% 6.40% Feb 2018 Highest rate since 2000; strong global equities drove outperformance
2018 6.15% 5.90% Feb 2019 US-China trade war year; EPF held above 6% through market volatility
2019 5.45% 5.00% Feb 2020 Global slowdown pre-pandemic; conservative positioning
2020 5.20% 4.90% Feb 2021 COVID year; i-Sinar early withdrawal scheme launched; still paid 5.20%
2021 6.10% 5.65% Mar 2022 Global recovery year; strong equity markets; EPF global holdings contributed
2022 5.35% 4.75% Mar 2023 Inflation spike; S&P fell 18.11%; EPF smoothing protected members fully
2023 5.50% 5.40% Mar 2024 Akaun Fleksibel (Account 3) launched; AI boom boosted global holdings
2024 6.30% 6.30% Mar 2025 Strong year; 38.3% of EPF assets globally invested; best rate since 2017
2025 6.15% 6.15% Mar 2026 Volatile trade policy environment; consistent outcome; confirmed by KWSP 28 Feb 2026
Year Annual Return SPXTR Start SPXTR End USD/MYR Key driver
2016 +11.96% 3,822.39 4,279.55 4.33 US election rally; oil recovery; Fed Dec rate hike
2017 +21.83% 4,279.55 5,213.78 4.30 Tech boom; synchronized global growth; record low volatility
2018 -4.38% 5,213.78 4,985.42 4.04 Trade war; Fed tightening; brutal Q4 selloff
2019 +31.49% 4,985.42 6,555.33 4.14 Trade truce optimism; Fed cuts; record highs
2020 +18.40% 6,555.33 7,761.51 4.20 COVID crash Mar −34% then full V-shaped recovery; tech surge
2021 +28.71% 7,761.51 9,989.84 4.18 Vaccine rollout; stimulus; Magnificent Seven dominance
2022 -18.11% 9,989.84 8,180.68 4.55 Fed hikes 425bps; 40-yr inflation high; worst year since 2008
2023 +26.29% 8,180.68 10,331.38 4.61 AI boom begins; Nvidia +239%; soft landing narrative
2024 +25.02% 10,331.38 12,916.29 4.45 Rate cut cycle; AI capex supercycle; post-election rally
2025 +17.88% 12,916.29 15,225.69 4.35 Tariff volatility; DeepSeek shock; resilient despite uncertainty
2026 -6.68% 15,225.69 14,208.62 4.15 YTD to Mar 30; tariff escalation; MYR strengthening to 4.15