Context: During the 1920s, specifically In 1928, the components of the Dow were increased to 30 stocks near the economic height of that decade, which was nicknamed the Roaring Twenties. This period downplayed the influence of an early Depression of 1920–21 plus certain international conflicts such as the Polish-Soviet war, the Irish Civil War, the Turkish War of Independence and the initial phase of the Chinese Civil War. The Wall Street Crash of 1929 and the ensuing Great Depression over the next several years returned the average to its starting point, almost 90% below its peak. By July 8, 1932, following its intra-day low of 40.56, the Dow would end up closing the session at 41.22. The high of 381.17 on September 3, 1929, would not be surpassed until 1954, in inflation-adjusted numbers. However, the bottom of the 1929 Crash came just 2½ months later on November 13, 1929, when intra-day it was at the 195.35 level, closing slightly higher at 198.69. For the decade, the Dow would end off with a healthy 131.7% gain, from 107.23 points at the beginning of 1920, to a level of 248.48 points at the end of 1929, just before the Crash of 1929.

Question: Which years of the Roaring Twenties were actually a depression?

Answer:
1920–21