BIST 100's Confusing Numbers
The BIST 100 index was around 82,000 points in January 2015. By 2025, the return in Turkish lira terms reached +2,800%. That sounds incredible.
But in dollar terms, the picture looks entirely different.
How Currency Erases Your Gains
BIST 100 return in TRY (2015–2025)~+2,800%
USD/TRY change over the period$1 = 2.3 TRY → ~33 TRY
BIST 100 net return in USD~100–130%
S&P 500 same period (USD)~+310%
You gained 2,800% in lira, but your dollar purchasing power only doubled. The S&P 500, meanwhile, tripled in dollar terms over the same period.
Does This Make BIST a Bad Investment?
For someone who lives and spends in Turkish lira, BIST 100 is still reasonable — it has beaten domestic inflation. But relying solely on BIST carries real risks, especially if you have foreign currency expenses or international exposure.
- Add currency hedging: Allocate part of your portfolio to USD/EUR-linked instruments or gold
- Track real returns: Our calculator's inflation-adjustment feature is built exactly for this
- Sector matters: Banking, energy, and tech sectors move very differently from each other
1,000 TRY/Month DCA Simulation (5 Years)
PeriodJan 2020 – Dec 2024
Total invested60,000 TRY
Estimated current value (TRY)~220,000 – 250,000 TRY