(Time) - The market is underpriced.

It seems like investors are raising a glass to fine wines.

After several years of poor performances, fine wines have returned this year as one of the most productive investments, Marketwatch reported. The Liv-ex Fine Wine 100 index, considered the industry’s leading benchmark, has surged by 16% since the beginning of the year. It’s outperforming the gain for the S&P 500 and the dollar.

Part of the reason for wine’s surge is that the market is seemingly underpriced after years of going down. While it enjoyed some productive years between 2009 and 2011, it struggled with cold and wet summers that ruined grape harvests and spoiled vintages.

However, the 2015 vintage is bringing back memories of superior wines of 2009 and 2010, allowing the high-end market to recover. The wine market is also dependent on the economic climate as a whole.

For instance, in the wake of Britain’s decision to leave the European Union, fine wine — which is largely priced in pounds — became less expensive for buyers outside the U.K. The Liv ex-100 increased by 3.6% in the month after the vote, its largest gain since November 2011.

The vineyards on the Liv-ex 100 are primarily found in renowned French wine regions such as Bordeaux, Burgundy and Champagne. The price of French wine in particular is expected to only increase. Extreme weather destroyed crops this year, which may result in a 10% decline in wine production.