According to @charliebilello, the S&P 500 ended 2025 up 17.9% on a total-return basis including dividends, exceeding nearly all expectations for the third straight year (source: Charlie Bilello on X, Dec 31, 2025; bilello.blog/newsletter). No crypto or sector breakdowns were provided in the source, but the verified SPX year-end total return offers a clear benchmark for traders evaluating equity performance into year-end rebalancing and attribution (source: Charlie Bilello on X, Dec 31, 2025).