SP500-EARNINGS-YIELD — Daily CSV Download (S&P 500 Earnings Yield)
The earnings yield — the inverse of the P/E ratio — expresses what percentage of the index price is backed by earnings. It makes equity valuations directly comparable to bond yields. When the earnings yield falls below the 10-year Treasury yield, stocks offer less income per dollar of price than government bonds — a condition known as a negative equity risk premium.
Dataset: S&P 500 Earnings Yield (1871–2026) · Updated 2026-05-01
Macro Takeaway
This indicator is a key component of the macro-financial monitoring framework. Its current level relative to its historical distribution — captured in the percentile and z-score above — provides immediate context for whether conditions are historically normal, stretched, or compressed.
Cross-referencing with the equity risk premium and the 10-year Treasury yield helps situate this indicator within the broader macro regime.
Dataset Overview
| Indicator | S&P 500 Earnings Yield (1871–2026) |
|---|---|
| Geography | United States |
| Frequency | Monthly |
| Period | 1871–2026 |
| Variables | date, earnings_yield |
| Format | CSV, Excel (XLSX) |
| Sources | Robert Shiller, Yale University (ie_data.xls) — Open academic data |
| Last updated | — |
Dataset Variables
The CSV and Excel files contain the following columns.
| Column | Type | Description |
|---|---|---|
date | Date (YYYY-MM-DD) | Observation date |
earnings_yield | Float | Earnings yield (E/P × 100, in %) |
Column names match the CSV headers exactly.
Download the Complete Dataset
The full dataset is available in CSV and Excel formats.
Direct CSV Access — Eco3min Structured Dataset
https://eco3min.fr/dataset/sp500-earnings-yield.csv
This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.
Using the Dataset in Python
import pandas as pd url = "https://eco3min.fr/dataset/sp500-earnings-yield.csv" df = pd.read_csv(url, parse_dates=["date"]) print(df.head()) print(df.describe())
Using the Dataset in R
library(readr) url <- "https://eco3min.fr/dataset/sp500-earnings-yield.csv" df <- read_csv(url) head(df) summary(df)
Both examples load the dataset directly from the URL — no download or API key required.
Methodology
Trailing 12-month earnings divided by S&P 500 price, expressed as a percentage. Source: Shiller dataset.
This dataset is updated automatically via the Eco3min data pipeline.
Historical Regimes
Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution.
Related Macroeconomic Datasets
- S&P 500 P/E Ratio — Inverse metric
- Equity Risk Premium — Earnings yield minus Treasury yield
- 10-Year Treasury Yield — Bond yield comparison
Macroeconomic Dataset Hub
This dataset is part of the Eco3min macro-financial data repository.
Explore the Eco3min Dataset Hub
Sources
- Robert Shiller, Yale University (ie_data.xls) — Open academic data
Dataset Reference
Last updated — 13 May 2026
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