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REAL RETURN REPORT CARD · 2025

Who beat inflation
in 2025?

On paper, everyone gains - your portfolio turns green and the numbers grow. But inflation quietly eats your purchasing power. The real question: did your money actually grow? Inflation in 2025 was 32%. Here is the honest report card:

0% = exactly matched inflationinflation %32
01
Gold (oz)
kept purchasing power
A+
+49.6%
nominal +97%
02
TRY Deposit
kept purchasing power
A
+9.8%
nominal +45%
03
S&P 500
kept purchasing power
B
+7.3%
nominal +42%
04
Dollar (USD/TRY)
lost purchasing power
D
-8.0%
nominal +21%
05
BIST 100
lost purchasing power
D
-14.4%
nominal +13%
06
Bitcoin
lost purchasing power
D
-14.7%
nominal +13%
B
Class average
+4.9%

Grades reflect real return - inflation-adjusted TRY return (TurkStat CPI, 2025). Price data: Yahoo Finance, annual close. For information only, not investment advice.

So did your money really grow in 2025?

Connect your portfolio; Alvest gives each holding its real grade against inflation, its tax, and what actually protected you - on one screen. Everyone shows paper return; we compute the real one for Turkey.

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