S&P 500: $100 in 1908 → $8,325,955.38 in 2024

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Stock market returns since 1908

If you invested $100 in the S&P 500 at the beginning of 1908, you would have about $8,325,955.38 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 8,325,855.38%, or 10.22% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 243,709.31% cumulatively, or 6.93% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $6,323,289.58.

The graph below shows the performance of $100 over time if invested in an S&P 500 index fund. The returns assume that all dividends are automatically reinvested.

This chart shows the rate of gains and loss by month, including dividends:

Adjusting stock market return for inflation

The nominal return on investment of $100 is $8,325,855.38, or 8,325,855.38%. This means by 2024 you would have $8,325,955.38 in your pocket.

However, it's important to take into account the effect of inflation when considering an investment and especially a long-term investment. You can convert S&P returns to their real (inflation-adjusted) value using an inflation calculation based on the U.S. Bureau of Labor Statistics Consumer Price Index (CPI).

In the case of the returns described above, the CPI in 1908 was 9.200 and the CPI in 2024 was 314.175.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 116 years.

Adjusted for inflation, the $8,325,955.38 nominal end value of the original $100 investment would have a real return of roughly $243,709.31 in 1908 dollars. This means the inflation-adjusted return is 243,709.31% as opposed to the original 8,325,855.38%.

For more information on inflation, see our U.S. inflation calculator for 1908.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1397-month period between 1908 and 2024.

Note that data shown is the monthly average closing price. Returns include dividends.

YearMonthReturn (%)Amount ($)
19081-3.12%96.88
190824.64%101.38
190835.91%107.36
190845.88%113.67
190850.59%114.35
190864.12%119.06
190874.73%124.70
19088-0.67%123.86
190891.64%125.89
1908107.18%134.93
1908112.65%138.50
1908120.70%139.47
19091-2.50%135.99
190921.75%138.37
190934.87%145.10
190943.70%150.46
190952.13%153.66
190961.79%156.41
190972.77%160.74
190980.45%161.46
190990.74%162.66
190910-0.14%162.44
1909111.54%164.93
190912-1.78%162.00
19101-3.21%156.81
191022.85%161.28
19103-2.04%157.99
19104-1.26%156.00
19105-4.42%149.11
19106-4.64%142.19
191072.87%146.28
191081.11%147.90
191095.03%155.35
1910100.31%155.83
191011-2.37%152.13
1910122.86%156.48
191112.15%159.85
19112-0.75%158.65
19113-0.01%158.63
191142.58%162.72
191152.42%166.65
19116-0.01%166.64
19117-4.37%159.36
19118-5.03%151.35
191191.03%152.91
1911104.46%159.73
1911110.87%161.12
1911120.54%161.99
19121-0.45%161.27
191223.31%166.61
191233.54%172.51
191240.31%173.04
191250.41%173.75
191260.52%174.65
191272.71%179.38
191280.91%181.02
191290.20%181.39
191210-0.71%180.09
191211-3.19%174.35
191212-0.43%173.61
19131-3.12%168.20
19132-1.45%165.76
191330.34%166.32
19134-2.28%162.54
19135-4.56%155.12
191361.85%157.99
191373.16%162.98
191381.42%165.30
19139-2.70%160.84
191310-2.06%157.53
1913110.37%158.12
1913124.60%165.39
191411.79%168.35
19142-1.42%165.95
19143-1.94%162.73
191441.09%164.50
19145-0.03%164.46
19146-5.07%156.12
191470.48%156.87
191480.48%157.62
191490.47%158.36
1914100.47%159.10
191411-3.84%153.00
1914122.24%156.43
19151-0.87%155.08
191523.05%159.81
191537.99%172.58
19154-1.90%169.30
191551.58%171.97
191560.07%172.09
191574.69%180.16
191584.14%187.61
191595.95%198.78
1915103.89%206.52
1915110.59%207.74
191512-1.20%205.23
19161-1.00%203.18
191620.08%203.35
19163-0.67%201.99
191642.64%207.32
191651.41%210.24
19166-0.95%208.24
191671.22%210.77
191684.55%220.36
191693.55%228.19
1916102.75%234.47
191611-3.57%226.11
191612-1.87%221.88
19171-5.15%210.46
191723.64%218.12
19173-0.97%216.00
19174-2.83%209.88
191752.61%215.35
19176-2.19%210.64
19177-2.36%205.68
19178-4.17%197.09
19179-4.74%187.74
191710-7.61%173.46
191711-2.61%168.94
1917126.88%180.55
191813.84%187.48
19182-1.27%185.11
19183-0.21%184.72
191843.94%192.01
191850.85%193.64
191861.51%196.56
191871.62%199.75
191880.14%200.03
191894.91%209.85
1918103.17%216.50
191811-1.39%213.50
191812-0.03%213.44
191910.98%215.53
191923.64%223.38
191933.90%232.10
191947.47%249.42
191953.19%257.38
191963.75%267.04
19197-6.25%250.35
191982.09%255.58
191995.60%269.91
191910-2.48%263.20
191911-2.45%256.74
191912-0.51%255.42
19201-7.77%235.58
192027.58%253.43
19203-0.30%252.66
19204-5.77%238.08
19205-1.20%235.23
192060.42%236.22
19207-3.37%228.25
192084.12%237.65
192090.67%239.25
192010-4.53%228.41
192011-8.39%209.25
1920125.03%219.77
19211-0.11%219.53
19212-1.96%215.23
192131.04%217.47
192143.63%225.37
19215-7.43%208.62
192160.31%209.27
19217-0.61%207.99
192183.10%214.43
192191.96%218.63
1921105.96%231.65
1921114.09%241.12
1921120.39%242.05
192212.72%248.64
192224.28%259.28
192236.58%276.34
192244.38%288.45
19225-0.47%287.10
192261.19%290.51
192274.24%302.82
192283.07%312.12
192292.67%320.44
192210-4.52%305.97
1922110.25%306.74
1922121.85%312.42
192314.75%327.25
192322.08%334.05
19233-3.04%323.88
19234-4.25%310.11
19235-3.31%299.85
19236-2.84%291.34
192371.04%294.36
192381.16%297.76
19239-0.94%294.97
1923103.54%305.40
1923113.92%317.37
1923123.79%329.40
192410.95%332.55
19242-1.42%327.84
19243-1.79%321.98
192440.17%322.54
192452.42%330.34
192465.16%347.38
192473.93%361.04
19248-0.48%359.31
19249-0.81%356.41
1924106.08%378.10
1924115.87%400.29
1924124.58%418.64
192511.29%424.03
19252-2.19%414.75
19253-0.61%412.23
192543.67%427.36
192552.24%436.93
192563.22%451.00
192571.79%459.06
192582.74%471.65
192593.73%489.23
1925103.53%506.48
1925112.04%516.79
1925121.93%526.75
192610.56%529.69
19262-6.38%495.88
19263-2.35%484.20
192641.15%489.79
192655.22%515.34
192664.66%539.33
192674.39%563.02
192681.94%573.97
19269-1.83%563.44
1926101.74%573.23
1926112.71%588.74
192612-0.24%587.32
192712.37%601.26
192721.97%613.08
192732.88%630.73
192743.87%655.13
192751.70%666.28
192762.62%683.77
192775.73%722.92
192786.06%766.75
19279-1.17%757.81
1927102.66%777.94
1927112.72%799.08
1927120.77%805.22
19281-0.83%798.55
192825.75%844.44
192836.66%900.69
192843.44%931.63
19285-4.57%889.10
192861.09%898.80
192873.59%931.08
192887.37%999.74
192892.36%1,023.31
1928107.08%1,095.78
1928110.70%1,103.40
1928127.69%1,188.27
192910.81%1,197.91
192922.05%1,222.48
19293-0.30%1,218.80
192941.80%1,240.69
192952.20%1,268.01
192969.20%1,384.67
192975.96%1,467.16
192984.24%1,529.43
19299-10.32%1,371.52
192910-26.19%1,012.30
1929114.37%1,056.57
1929121.83%1,075.87
193016.64%1,147.28
193024.12%1,194.57
193036.69%1,274.46
19304-5.65%1,202.43
19305-9.77%1,084.96
19306-1.76%1,065.87
19307-0.90%1,056.32
193080.34%1,059.94
19309-13.37%918.22
193010-6.80%855.78
193011-6.19%802.83
1930123.56%831.38
193118.14%899.05
193122.38%920.45
19313-9.08%836.87
19314-9.16%760.22
19315-2.68%739.85
193163.86%768.39
19317-2.49%749.29
19318-14.37%641.63
19319-12.75%559.82
1931102.05%571.32
193111-18.10%467.92
193112-0.85%463.94
19321-0.05%463.72
193221.14%469.02
19323-23.22%360.09
19324-11.31%319.35
19325-12.39%279.77
193266.18%297.08
1932751.35%449.63
1932810.37%496.24
19329-13.22%430.66
193210-0.34%429.21
193211-2.64%417.88
1932124.57%436.98
19331-11.27%387.75
193320.33%389.04
1933311.24%432.78
1933429.32%559.66
1933517.58%658.07
193368.46%713.75
19337-4.64%680.62
19338-0.48%677.33
19339-9.38%613.81
1933102.80%631.01
1933112.32%645.66
1933126.08%684.95
193417.75%738.02
19342-4.80%702.61
193432.02%716.79
19344-9.83%646.36
193451.70%657.36
19346-4.36%628.73
19347-3.51%606.63
19348-2.01%594.45
193491.21%601.63
1934103.21%620.95
1934111.06%627.53
1934120.40%630.07
19351-2.62%613.57
19352-5.93%577.18
193537.94%622.99
193548.27%674.49
193554.17%702.64
193565.60%741.98
193577.10%794.70
193582.43%814.04
193592.99%838.35
1935109.71%919.75
1935110.29%922.46
1935125.82%976.16
193616.03%1,035.04
193622.41%1,060.00
193630.41%1,064.40
19364-5.02%1,010.97
193654.57%1,057.21
193666.23%1,123.12
193672.30%1,148.92
193681.44%1,165.51
193695.55%1,230.20
1936103.10%1,268.36
193611-1.40%1,250.60
1936123.46%1,293.85
193713.30%1,336.58
193720.23%1,339.65
19373-5.62%1,264.30
19374-4.09%1,212.65
19375-3.34%1,172.16
193766.39%1,247.11
193771.44%1,265.03
19378-13.76%1,090.92
19379-14.10%937.13
193710-8.27%859.67
193711-1.02%850.91
1937123.24%878.45
19381-1.80%862.61
19382-6.02%810.69
19383-3.44%782.78
193841.56%794.96
193852.93%818.28
1938620.49%985.92
193871.06%996.35
19388-4.08%955.65
1938911.62%1,066.67
1938100.47%1,071.64
193811-2.55%1,044.31
193812-1.16%1,032.17
19391-0.46%1,027.44
193920.27%1,030.18
19393-12.24%904.08
193944.10%941.11
193952.17%961.55
193962.84%988.82
19397-1.07%978.26
1939811.06%1,086.42
193991.38%1,101.45
193910-1.41%1,085.94
193911-1.97%1,064.51
193912-0.15%1,062.93
19401-0.23%1,060.51
19402-0.15%1,058.96
194031.42%1,074.00
19404-13.34%930.72
19405-8.09%855.38
194063.87%888.48
194072.65%912.02
194084.76%955.41
194091.47%969.42
1940102.85%997.05
194011-3.59%961.26
1940120.72%968.18
19411-5.72%912.76
194121.18%923.50
19413-2.55%899.99
19414-1.59%885.70
194154.11%922.07
194165.71%974.74
194170.08%975.48
194180.86%983.89
19419-3.43%950.10
194110-4.08%911.31
194111-5.88%857.71
1941122.62%880.14
19421-2.48%858.32
19422-4.76%817.45
19423-3.45%789.22
194241.87%803.98
194255.75%850.20
194264.38%887.45
194270.05%887.85
194281.66%902.61
194297.97%974.53
1942102.15%995.53
1942111.06%1,006.04
1942126.50%1,071.47
194316.43%1,140.41
194324.01%1,186.19
194333.79%1,231.11
194344.36%1,284.83
194352.18%1,312.83
194362.47%1,345.29
19437-4.54%1,284.23
194382.55%1,317.01
19439-0.50%1,310.42
194310-4.21%1,255.30
1943111.77%1,277.52
1943123.67%1,324.35
19441-0.24%1,321.13
194423.24%1,363.93
19443-1.31%1,346.09
194442.20%1,375.74
194455.14%1,446.49
194463.02%1,490.16
19447-1.06%1,474.43
19448-1.23%1,456.36
194492.88%1,498.36
194410-0.28%1,494.10
1944112.60%1,532.95
1944123.38%1,584.83
194513.73%1,643.99
194520.31%1,649.17
194532.90%1,697.02
194544.16%1,767.63
194552.19%1,806.29
19456-1.70%1,775.67
194570.71%1,788.22
194587.18%1,916.60
194594.51%2,003.12
1945103.61%2,075.35
1945112.02%2,117.37
1945124.30%2,208.39
194610.59%2,221.33
19462-2.68%2,161.84
194636.77%2,308.19
194640.52%2,320.15
19465-0.34%2,312.29
19466-2.55%2,253.38
19467-1.62%2,216.80
19468-14.42%1,897.08
19469-1.87%1,861.56
194610-0.01%1,861.32
1946113.39%1,924.50
1946120.92%1,942.20
194714.27%2,025.13
19472-3.67%1,950.75
19473-3.30%1,886.41
19474-1.36%1,860.71
194753.92%1,933.67
194766.69%2,063.10
19477-1.56%2,030.94
19478-2.17%1,986.93
194793.03%2,047.07
194710-0.73%2,032.13
194711-1.12%2,009.32
194712-0.86%1,991.94
19481-4.45%1,903.33
194821.92%1,939.85
194838.19%2,098.68
194845.33%2,210.54
194854.59%2,311.94
19486-1.96%2,266.69
19487-2.49%2,210.29
19488-0.68%2,195.30
194893.19%2,265.30
194810-5.10%2,149.75
194811-0.16%2,146.35
1948121.63%2,181.32
19491-3.33%2,108.74
194921.49%2,140.19
194930.41%2,149.04
19494-0.18%2,145.11
19495-4.91%2,039.73
194966.26%2,167.48
194974.17%2,257.88
194981.87%2,300.13
194993.14%2,372.39
1949101.95%2,418.59
1949113.24%2,496.99
1949122.63%2,562.66
195012.52%2,627.31
195021.38%2,663.44
195033.39%2,753.63
195043.91%2,861.42
195052.16%2,923.36
19506-6.72%2,726.81
195076.64%2,907.80
195084.11%3,027.27
195094.72%3,170.20
1950100.38%3,182.12
1950110.19%3,188.32
1950128.01%3,443.79
195114.31%3,592.17
19512-1.11%3,552.21
195131.93%3,620.64
195140.63%3,643.40
19515-1.15%3,601.68
195162.37%3,686.92
195174.97%3,869.98
195183.14%3,991.34
195190.03%3,992.47
195110-2.25%3,902.50
1951113.61%4,043.51
1951123.83%4,198.53
19521-1.33%4,142.60
195220.75%4,173.66
195230.20%4,182.13
195240.46%4,201.36
195253.24%4,337.69
195263.37%4,483.73
195270.88%4,523.21
19528-1.11%4,473.07
19529-1.61%4,401.01
1952103.67%4,562.42
1952114.51%4,768.14
1952120.99%4,815.29
19531-0.77%4,778.04
195320.96%4,823.77
19533-4.47%4,608.01
195341.00%4,654.22
19535-3.11%4,509.58
195361.91%4,595.88
195370.90%4,637.19
19538-4.11%4,446.75
195393.52%4,603.13
1953102.71%4,727.79
1953111.84%4,814.63
1953123.02%4,960.22
195412.68%5,092.97
195422.58%5,224.49
195434.45%5,457.00
195444.42%5,698.34
195451.22%5,768.04
195464.46%6,025.13
195472.39%6,169.39
195482.74%6,338.42
195492.71%6,510.23
1954104.30%6,790.32
1954114.95%7,126.66
1954122.17%7,281.21
195513.70%7,550.96
19552-0.44%7,518.00
195533.81%7,804.31
19554-0.08%7,798.16
195556.15%8,277.37
195567.64%8,910.10
19557-0.30%8,883.43
195584.82%9,311.29
19559-4.72%8,871.35
1955107.07%9,498.21
1955111.24%9,615.72
195512-2.39%9,386.12
195610.95%9,475.23
195627.21%10,158.03
195631.48%10,308.65
19564-2.84%10,016.04
19565-0.26%9,989.79
195665.75%10,564.09
19567-0.28%10,534.01
19568-3.09%10,208.64
19569-0.95%10,111.29
195610-0.71%10,039.25
1956111.81%10,220.85
195612-1.86%10,030.48
19571-4.00%9,629.68
195721.62%9,785.73
195732.64%10,044.47
195744.16%10,462.34
195751.95%10,666.79
195762.32%10,914.49
19577-5.21%10,346.38
19578-3.74%9,959.48
19579-5.90%9,372.21
195710-1.80%9,203.47
1957110.32%9,232.74
1957122.33%9,447.74
195810.70%9,514.05
195822.42%9,744.19
195830.90%9,831.55
195843.56%10,181.34
195852.74%10,459.82
195863.07%10,781.01
195874.05%11,218.11
195882.94%11,548.34
195894.36%12,051.73
1958103.33%12,452.60
1958112.16%12,721.88
1958124.25%13,263.16
19591-1.27%13,095.37
195922.81%13,462.85
195931.94%13,723.55
195941.77%13,965.83
19595-0.61%13,881.16
195964.23%14,468.00
19597-0.32%14,421.92
19598-3.70%13,887.84
195990.18%13,912.38
1959100.67%14,005.47
1959113.46%14,490.50
195912-1.49%14,275.20
19601-3.61%13,759.98
19602-1.08%13,611.62
196031.58%13,827.27
19604-0.62%13,740.91
196053.99%14,288.91
19606-2.20%13,975.11
196071.49%14,183.46
19608-2.72%13,797.56
19609-1.67%13,566.60
1960103.54%14,046.97
1960112.69%14,424.92
1960125.43%15,207.75
196114.37%15,872.96
196123.40%16,412.17
196132.92%16,891.24
196141.26%17,104.64
19615-1.08%16,919.88
19616-0.03%16,915.15
196173.84%17,564.52
19618-0.54%17,469.37
196191.34%17,703.99
1961104.77%18,548.83
1961111.16%18,764.56
196112-3.49%18,110.21
196211.91%18,456.03
196220.34%18,518.96
19623-2.94%17,973.59
19624-7.19%16,682.17
19625-11.41%14,778.28
196262.72%15,179.86
196273.02%15,638.75
19628-0.59%15,545.96
19629-2.86%15,101.92
1962107.20%16,189.38
1962114.62%16,937.94
1962124.15%17,640.31
196311.60%17,921.77
19632-0.11%17,902.36
196334.98%18,793.57
196342.27%19,220.10
196350.22%19,261.74
19636-1.22%19,026.38
196373.03%19,603.10
196382.89%20,170.34
196390.50%20,271.17
196310-0.31%20,209.02
1963112.39%20,692.70
1963123.33%21,381.80
196411.48%21,698.23
196422.07%22,147.61
196431.69%22,522.59
196441.22%22,797.45
19645-0.35%22,717.51
196463.96%23,617.36
19647-1.23%23,327.89
196481.97%23,786.38
196491.97%24,255.02
1964100.94%24,482.28
196411-1.49%24,117.41
1964122.82%24,797.71
196510.98%25,039.50
196520.34%25,123.53
196531.56%25,514.87
196541.73%25,956.94
19655-4.51%24,786.96
196560.10%24,812.47
196572.12%25,338.14
196583.60%26,249.33
196592.50%26,904.73
1965101.08%27,194.22
196511-0.21%27,136.67
1965121.98%27,674.10
19661-0.43%27,554.99
19662-3.86%26,490.72
196633.32%27,370.46
19664-5.01%25,999.87
19665-0.56%25,854.39
196660.02%25,859.15
19667-5.77%24,367.22
19668-3.22%23,581.41
19669-0.56%23,448.32
1966105.32%24,694.84
1966110.72%24,871.61
1966124.13%25,898.88
196713.73%26,864.91
196722.63%27,572.46
196731.99%28,121.83
196742.06%28,700.49
19675-0.99%28,415.83
196761.99%28,981.99
196771.85%29,518.64
196781.65%30,006.85
196790.10%30,036.08
196710-2.88%29,170.52
1967113.11%30,078.23
196712-0.02%30,072.97
19681-4.26%28,792.77
19682-1.56%28,343.83
196837.66%30,515.45
196842.56%31,295.95
196852.94%32,216.26
196860.05%32,232.02
19687-1.93%31,608.68
196883.51%32,717.41
196892.72%33,606.40
1968101.79%34,206.53
1968111.29%34,646.19
196812-3.99%33,265.50
19691-0.24%33,186.14
19692-1.91%32,551.02
196932.27%33,291.32
196943.51%34,461.00
19695-4.97%32,747.84
19696-4.21%31,370.68
19697-0.28%31,281.71
196980.63%31,478.32
196991.35%31,902.15
1969101.00%32,220.37
196911-5.03%30,600.49
196912-0.59%30,420.24
19701-3.20%29,447.99
197022.01%30,040.56
19703-2.75%29,215.13
19704-11.20%25,943.33
19705-0.27%25,873.31
197060.52%26,008.51
197073.26%26,855.29
197086.32%28,552.89
197092.49%29,263.72
1970100.21%29,324.23
1970117.16%31,423.36
1970124.11%32,715.07
197114.15%34,073.09
197122.83%35,037.99
197133.67%36,325.24
19714-1.11%35,922.80
19715-1.60%35,349.52
19716-0.46%35,185.87
19717-1.52%34,652.06
197182.49%35,513.65
19719-1.86%34,851.79
197110-4.37%33,328.23
1971117.16%35,715.73
1971124.42%37,295.28
197212.09%38,073.61
197222.62%39,071.00
197231.26%39,562.86
19724-0.78%39,255.90
197250.52%39,458.49
19726-0.50%39,259.68
197273.78%40,745.14
19728-1.21%40,251.94
197290.42%40,419.96
1972105.25%42,543.71
1972112.31%43,527.11
1972120.99%43,957.75
19731-3.33%42,496.11
19732-1.35%41,924.38
19733-1.63%41,239.63
19734-2.57%40,179.87
19735-1.99%39,380.38
197361.21%39,856.97
19737-1.64%39,205.14
197382.00%39,987.40
197394.24%41,681.00
197310-6.85%38,824.65
197311-6.81%36,182.53
1973121.70%36,797.78
19741-2.47%35,887.83
197424.57%37,529.57
19743-4.82%35,721.90
19744-2.71%34,755.38
197450.46%34,914.30
19746-11.35%30,952.62
19747-3.76%29,787.33
19748-10.01%26,804.55
197492.38%27,441.68
1974103.74%28,468.94
197411-6.09%26,734.66
1974128.63%29,042.60
1975110.81%32,181.39
197524.97%33,781.98
197531.49%34,284.33
197546.71%36,585.71
197552.89%37,644.73
197560.43%37,807.35
19757-7.00%35,162.25
19758-0.85%34,862.43
197594.97%36,595.53
1975102.04%37,342.70
197511-1.18%36,902.20
1975129.55%40,424.61
197614.18%42,113.61
197620.80%42,451.53
197631.10%42,916.57
19764-0.38%42,752.08
197650.90%43,137.10
197662.67%44,286.86
19767-0.56%44,038.58
197682.44%45,112.18
19769-3.11%43,710.00
197610-0.37%43,549.74
1976113.79%45,198.75
197612-0.54%44,955.92
19771-2.37%43,891.10
19772-0.05%43,867.32
19773-1.19%43,343.68
197740.06%43,371.64
197750.90%43,761.89
197761.28%44,323.11
19777-2.08%43,401.80
19778-1.18%42,891.68
19779-2.20%41,948.98
1977100.98%42,360.56
197711-0.08%42,326.61
197712-3.39%40,891.59
19781-0.97%40,494.13
197820.27%40,601.71
197834.83%42,562.76
197845.50%44,905.56
197850.67%45,208.02
19786-0.06%45,179.86
197877.33%48,490.70
197880.40%48,684.52
19789-2.77%47,334.25
197810-5.44%44,760.38
1978111.92%45,621.05
1978124.19%47,530.43
19791-1.06%47,028.05
197922.34%48,129.05
197932.43%49,299.02
19794-1.89%48,365.78
197952.42%49,535.09
197961.42%50,238.91
197975.01%52,758.06
197981.54%53,570.77
19799-3.35%51,774.80
197910-0.32%51,607.86
1979114.40%53,880.67
1979123.31%55,665.44
198014.40%58,112.41
19802-8.78%53,011.41
19803-1.16%52,395.39
198045.04%55,034.09
198056.86%58,810.91
198064.97%61,733.49
198073.50%63,897.06
198082.84%65,709.05
198093.32%67,893.73
1980104.61%71,026.82
198011-1.24%70,142.69
1980120.01%70,149.70
19811-3.07%67,995.98
198124.14%70,813.26
198131.29%71,729.43
19814-1.62%70,569.37
198150.86%71,174.57
19816-2.02%69,739.51
198170.80%70,299.22
19818-8.30%64,462.49
198191.73%65,575.92
1981103.04%67,571.88
1981111.18%68,368.80
198112-4.80%65,084.28
19821-1.91%63,838.63
19822-2.74%62,086.56
198235.47%65,482.26
198240.57%65,855.28
19825-5.27%62,384.30
198260.24%62,536.42
198270.79%63,032.95
1982812.10%70,657.65
198298.88%76,933.04
1982104.50%80,394.96
1982111.36%81,484.71
1982123.93%84,683.60
198312.13%86,487.38
198323.87%89,830.64
198334.20%93,601.19
198344.42%97,742.11
198351.75%99,456.02
198360.71%100,160.31
19837-2.41%97,749.26
198383.31%100,988.51
198390.65%101,642.84
198310-1.14%100,482.67
198311-0.13%100,353.92
1983121.58%101,935.43
19841-5.11%96,724.31
198420.44%97,152.18
198430.51%97,644.93
19844-0.25%97,398.31
19845-1.85%95,598.09
19846-0.91%94,729.63
198479.21%103,450.97
198481.41%104,906.50
19849-0.41%104,473.86
1984101.29%105,817.29
198411-0.71%105,068.57
1984124.70%110,004.24
198515.79%116,370.58
19852-0.48%115,813.96
198531.02%117,000.72
198542.74%120,201.43
198552.51%123,219.65
198562.25%125,988.67
19857-1.85%123,663.79
19858-1.88%121,332.73
198591.50%123,147.34
1985106.42%131,054.03
1985115.29%137,992.71
1985120.75%139,030.04
198615.70%146,950.92
198626.18%156,036.56
198632.74%160,314.19
198640.49%161,102.66
198653.13%166,150.40
19866-1.80%163,153.19
198672.28%166,874.47
19868-2.46%162,775.64
19869-0.09%162,629.35
1986103.53%168,374.97
1986111.71%171,252.39
1986126.67%182,680.70
198716.46%194,485.30
198724.38%202,996.78
19873-0.86%201,258.29
198740.17%201,606.13
198754.50%210,675.26
198763.12%217,252.75
198776.45%231,274.27
19878-3.03%224,265.67
19879-11.85%197,681.48
198710-12.30%173,359.91
198711-1.33%171,046.08
1987124.25%178,309.63
198813.33%184,244.78
198823.23%190,199.68
19883-0.89%188,514.46
19884-2.19%184,389.26
198856.00%195,449.30
19886-0.31%194,849.42
19887-1.72%191,500.97
198881.93%195,191.51
198893.80%202,611.95
198810-2.02%198,518.68
1988112.33%203,136.14
1988123.51%210,271.61
198913.30%217,210.27
19892-0.16%216,859.13
198933.56%224,589.72
198944.12%233,832.26
198953.39%241,765.31
198962.80%248,535.16
198974.69%260,193.33
198980.46%261,378.61
198990.29%262,126.82
198910-1.81%257,373.02
1989112.74%264,416.56
198912-2.21%258,569.71
19901-2.53%252,035.18
199022.71%258,858.19
199030.20%259,365.52
199043.85%269,353.49
199053.17%277,891.88
199060.17%278,363.53
19907-7.86%256,480.74
19908-4.34%245,346.76
19909-2.32%239,665.09
1990102.98%246,816.25
1990114.59%258,136.74
199012-0.69%256,368.06
1991111.61%286,124.13
199123.04%294,835.52
199132.26%301,495.35
19914-0.18%300,956.04
199150.35%302,000.39
199160.78%304,357.46
199172.68%312,510.99
19918-0.30%311,563.77
199190.18%312,129.71
1991100.02%312,179.01
1991110.94%315,098.32
1991127.36%338,283.34
19921-0.60%336,250.78
19922-1.01%332,846.65
199230.26%333,726.38
199242.07%340,629.01
19925-1.33%336,101.63
199261.91%342,528.34
199270.94%345,754.00
199280.38%347,061.60
19929-1.18%342,959.13
1992102.76%352,414.19
1992113.27%363,942.36
1992120.14%364,462.41
199311.72%370,746.64
199322.15%378,718.26
19933-1.34%373,636.83
199340.72%376,344.66
199350.87%379,600.73
199360.06%379,832.30
199371.76%386,526.72
199381.35%391,764.04
199391.24%396,629.39
1993100.01%396,659.31
1993110.89%400,178.39
1993121.74%407,125.01
19941-0.08%406,816.81
19942-1.42%401,024.48
19943-3.35%387,604.69
199441.06%391,706.48
199451.11%396,046.96
19946-0.52%393,991.97
199473.08%406,135.11
199480.82%409,455.12
19949-0.44%407,637.11
199410-0.37%406,129.33
199411-1.03%401,963.63
1994122.45%411,816.46
199513.82%427,544.12
199522.56%438,481.43
199533.22%452,581.03
199543.35%467,732.36
199553.18%482,598.86
199563.55%499,718.96
199570.51%502,283.14
199583.72%520,956.34
199590.91%525,710.42
1995102.36%538,108.70
1995113.39%556,345.94
1995120.16%557,250.45
199615.90%590,152.71
19962-0.20%588,968.29
199630.20%590,128.80
199642.35%604,025.31
199651.28%611,748.33
19966-3.48%590,480.51
199673.08%608,642.23
199682.02%620,959.49
199694.12%646,539.90
1996105.05%679,203.62
1996111.20%687,342.03
1996123.26%709,732.47
199714.36%740,685.06
19972-0.62%736,065.52
19973-3.41%711,000.68
199749.22%776,539.51
199755.34%817,982.07
199765.74%864,900.91
199770.35%867,908.94
199781.19%878,254.48
199791.65%892,705.07
199710-1.15%882,420.72
1997112.63%905,669.12
1997120.24%907,816.36
199816.40%965,936.20
199825.31%1,017,255.16
199833.41%1,051,899.56
19984-0.22%1,049,565.85
199850.12%1,050,788.14
199864.47%1,097,733.85
19987-6.97%1,021,210.74
19988-4.90%971,187.24
199891.29%983,723.88
19981010.97%1,091,681.52
1998114.10%1,136,485.27
1998125.05%1,193,851.49
19991-0.07%1,193,055.07
199922.92%1,227,934.15
199934.25%1,280,121.63
19994-0.10%1,278,856.46
19995-0.61%1,271,032.84
199964.52%1,328,513.87
19997-3.77%1,278,370.63
19998-0.60%1,270,725.76
19999-1.27%1,254,556.14
1999107.11%1,343,704.27
1999112.81%1,381,445.30
199912-0.12%1,379,802.31
20001-2.48%1,345,609.74
200023.94%1,398,639.60
200031.42%1,418,565.53
20004-2.84%1,378,295.38
200053.16%1,421,897.48
200060.85%1,433,988.48
200070.94%1,447,463.83
20008-1.08%1,431,836.28
20009-5.21%1,357,177.04
200010-0.77%1,346,691.98
200011-3.32%1,301,980.81
2000120.46%1,307,904.93
20011-2.14%1,279,964.71
20012-9.08%1,163,745.15
200130.45%1,168,966.80
200146.88%1,249,383.92
20015-2.39%1,219,540.48
20016-2.66%1,187,097.94
20017-2.05%1,162,811.82
20018-11.25%1,032,026.60
200193.18%1,064,886.65
2001105.05%1,118,696.93
2001111.47%1,135,097.58
200112-0.30%1,131,718.52
20021-3.35%1,093,774.60
200224.95%1,147,864.72
20023-3.51%1,107,523.79
20024-2.82%1,076,287.51
20025-5.92%1,012,560.97
20026-10.76%903,624.61
200271.14%913,915.00
20028-4.76%870,433.39
20029-1.37%858,534.20
2002106.63%915,417.04
200211-1.04%905,941.91
200212-0.22%903,926.03
20031-6.41%845,940.66
200321.31%857,004.70
200335.29%902,304.76
200345.31%950,237.10
200355.70%1,004,440.38
200360.60%1,010,425.85
20037-0.17%1,008,745.27
200383.16%1,040,633.53
200392.03%1,061,735.80
2003101.21%1,074,589.03
2003113.06%1,107,512.39
2003124.93%1,162,167.70
200411.09%1,174,796.54
20042-1.57%1,156,408.66
200430.97%1,167,604.28
20044-2.56%1,137,663.95
200452.86%1,170,174.71
20046-2.24%1,143,977.08
20047-1.39%1,128,103.59
200482.78%1,159,494.48
200490.10%1,160,684.07
2004104.77%1,216,093.92
2004112.73%1,249,262.24
200412-1.35%1,232,406.92
200511.68%1,253,126.23
20052-0.26%1,249,923.39
20053-2.41%1,219,813.76
200541.34%1,236,108.89
200552.18%1,263,064.68
200561.81%1,285,898.25
200570.31%1,289,884.77
200580.28%1,293,492.46
20059-2.62%1,259,548.37
2005103.96%1,309,445.92
2005112.14%1,337,522.15
2005121.47%1,357,140.53
20061-0.02%1,356,914.70
200621.49%1,377,080.32
200630.80%1,388,073.99
20064-0.79%1,377,154.91
20065-2.71%1,339,891.94
200660.72%1,349,539.71
200672.29%1,380,467.91
200682.53%1,415,409.95
200693.62%1,466,589.94
2006102.00%1,495,945.84
2006112.15%1,528,082.72
2006120.69%1,538,669.68
200711.60%1,563,227.59
20072-2.47%1,524,555.04
200734.18%1,588,285.40
200743.39%1,642,156.12
200750.34%1,647,819.95
200760.57%1,657,288.64
20077-4.20%1,587,664.16
200783.07%1,636,480.76
200792.99%1,685,438.26
200710-4.81%1,604,430.87
2007111.24%1,624,297.26
200712-6.64%1,516,521.94
20081-1.56%1,492,804.05
20082-2.63%1,453,593.53
200834.24%1,515,281.17
200842.56%1,554,111.83
20085-4.25%1,488,115.19
20086-6.08%1,397,660.53
200872.11%1,427,158.65
20088-4.85%1,357,976.61
20089-20.19%1,083,752.45
200810-8.61%990,491.78
200811-0.35%987,013.00
200812-1.10%976,199.72
20091-6.70%910,769.87
20092-5.69%858,970.41
2009312.32%964,810.60
200946.66%1,029,065.26
200952.87%1,058,587.72
200961.28%1,072,112.68
200978.12%1,159,176.22
200983.65%1,201,490.13
200992.40%1,230,363.24
2009102.09%1,256,131.05
2009112.23%1,284,090.74
2009121.36%1,301,515.44
20101-2.90%1,263,791.36
201025.94%1,338,898.93
201034.09%1,393,632.18
20104-5.88%1,311,653.21
20105-3.54%1,265,173.94
20106-0.16%1,263,161.39
201070.86%1,274,070.20
201083.37%1,317,021.07
201094.58%1,377,306.88
2010102.49%1,411,614.41
2010113.71%1,464,038.05
2010123.46%1,514,725.87
201113.15%1,562,452.82
20112-1.11%1,545,071.14
201132.22%1,579,386.91
201140.66%1,589,798.78
20115-3.66%1,531,570.81
201163.10%1,579,076.08
20117-10.40%1,414,841.96
20118-0.79%1,403,675.39
201193.02%1,446,051.03
2011101.77%1,471,604.52
2011111.55%1,494,484.30
2011124.78%1,565,958.88
201214.16%1,631,143.62
201222.88%1,678,183.15
20123-0.04%1,677,541.91
20124-3.09%1,625,689.89
20125-1.15%1,606,955.26
201262.92%1,653,895.82
201273.39%1,709,924.86
201283.02%1,761,584.53
20129-0.22%1,757,759.52
201210-2.84%1,707,883.20
2012112.18%1,745,038.80
2012124.27%1,819,530.34
201312.33%1,861,980.38
201322.72%1,912,671.94
201331.45%1,940,478.20
201344.57%2,029,240.91
20135-1.12%2,006,558.56
201363.25%2,071,861.55
201370.25%2,077,093.59
201381.19%2,101,862.25
201392.12%2,146,370.23
2013103.86%2,229,220.00
2013111.52%2,263,141.18
2013120.97%2,285,044.04
20141-0.13%2,282,072.66
201422.72%2,344,196.82
201430.20%2,348,925.63
201441.53%2,384,911.99
201453.20%2,461,141.36
201461.50%2,497,955.65
20147-0.43%2,487,290.61
201481.78%2,531,515.47
20149-2.65%2,464,516.80
2014105.71%2,605,133.56
2014110.63%2,621,647.18
201412-1.11%2,592,545.70
201512.83%2,665,847.29
201520.06%2,667,323.19
201530.88%2,690,753.22
201540.98%2,717,093.10
20155-0.44%2,705,260.16
20156-0.08%2,703,105.96
20157-2.42%2,637,571.93
20158-4.51%2,518,694.04
201594.32%2,627,429.07
2015102.93%2,704,477.64
201511-1.10%2,674,648.06
201512-6.42%2,502,945.78
20161-0.55%2,489,181.85
201626.36%2,647,561.71
201632.83%2,722,521.07
20164-0.30%2,714,234.66
201651.07%2,743,181.71
201663.30%2,833,636.45
201671.20%2,867,619.03
20168-0.44%2,855,039.61
20169-0.51%2,840,593.66
2016101.20%2,874,713.75
2016113.95%2,988,148.91
2016121.44%3,031,107.58
201712.58%3,109,202.41
201721.75%3,163,590.35
20173-0.15%3,158,718.29
201741.69%3,212,175.59
201751.78%3,269,237.58
201760.99%3,301,533.86
201770.25%3,309,715.23
201781.65%3,364,433.53
201792.73%3,456,444.03
2017101.59%3,511,386.59
2017112.88%3,612,636.94
2017124.86%3,788,279.67
20181-2.89%3,678,923.92
201820.06%3,681,299.70
20183-1.66%3,620,043.91
201841.96%3,691,055.46
201852.11%3,769,046.34
201861.58%3,828,625.24
201872.45%3,922,457.37
201881.68%3,988,344.76
20189-3.85%3,834,833.93
201810-2.08%3,755,218.62
201811-5.56%3,546,334.13
2018121.74%3,607,885.59
201915.83%3,818,185.73
201921.95%3,892,564.82
201933.72%4,037,493.56
20194-1.53%3,975,647.70
201951.40%4,031,495.58
201963.83%4,185,794.77
20197-3.13%4,054,594.63
201983.09%4,179,688.10
201990.01%4,180,097.82
2019104.43%4,365,430.50
2019112.47%4,473,226.94
2019123.35%4,622,918.89
202010.12%4,628,562.41
20202-18.92%3,752,944.44
202034.32%3,915,019.64
202045.89%4,145,511.15
202056.51%4,415,312.29
202063.48%4,568,807.74
202075.89%4,838,070.65
20208-0.63%4,807,735.82
202091.73%4,890,717.40
2020103.95%5,084,102.07
2020114.26%5,300,688.91
2020122.80%5,448,859.06
202112.49%5,584,618.93
202120.82%5,630,488.63
202136.02%5,969,527.72
202140.76%6,014,909.95
202151.81%6,123,805.25
202163.07%6,311,695.94
202172.19%6,449,616.71
20218-0.08%6,444,166.86
202190.45%6,473,305.84
2021104.74%6,780,447.63
2021110.27%6,798,443.19
202112-2.05%6,658,942.34
20221-2.90%6,465,661.88
20222-0.89%6,407,950.44
202230.12%6,415,531.17
20224-7.87%5,910,453.70
20225-3.37%5,711,307.77
202260.46%5,737,847.38
202276.45%6,107,789.00
20228-7.28%5,663,300.51
20229-3.09%5,488,237.97
2022105.29%5,778,296.52
2022110.01%5,778,922.74
2022121.38%5,858,467.08
202313.15%6,042,831.38
20232-2.59%5,886,598.38
202334.00%6,121,839.88
202340.74%6,167,000.40
202354.94%6,471,785.08
202363.88%6,722,634.18
20237-1.00%6,655,566.72
20238-0.95%6,592,100.75
20239-3.04%6,391,878.05
2023104.60%6,686,014.62
2023115.18%7,032,032.38
2023122.91%7,236,793.69
202414.20%7,540,686.31
202423.28%7,788,180.69
20243-1.01%7,709,587.96
202442.52%7,903,616.16
202455.34%8,325,955.38
Click to show 1386 more rows

Remember, returns are based on the average closing price across the entire month. Some losses are offset by dividend returns.

Dollar-cost averaging

Dollar-cost averaging is an alternative to investing the full lump-sum of $100.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $100.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1908. This would result in a final amount of $6,323,289.58, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $8,325,955.38).

YearMonthContribution ($)Amount ($)
190814.164.01
190824.168.52
190834.1613.41
190844.1618.58
190854.1622.86
190864.1628.11
190874.1633.78
190884.1637.67
190894.1642.50
1908104.1649.99
1908114.1655.57
1908124.1660.14
190914.1662.67
190924.1667.99
190934.1675.64
190944.1682.74
190954.1688.73
190964.1694.53
190974.16101.41
190984.16106.03
190994.16110.99
1909104.16114.98
1909114.16120.96
1909124.32123.03
19101-119.09
19102-122.48
19103-119.99
19104-118.48
19105-113.24
19106-107.99
19107-111.09
19108-112.33
19109-117.98
191010-118.35
191011-115.54
191012-118.85
19111-121.40
19112-120.49
19113-120.48
19114-123.58
19115-126.57
19116-126.56
19117-121.03
19118-114.94
19119-116.13
191110-121.31
191111-122.37
191112-123.03
19121-122.48
19122-126.53
19123-131.02
19124-131.42
19125-131.96
19126-132.64
19127-136.23
19128-137.48
19129-137.76
191210-136.77
191211-132.42
191212-131.85
19131-127.74
19132-125.89
19133-126.32
19134-123.44
19135-117.81
19136-119.99
19137-123.78
19138-125.54
19139-122.15
191310-119.64
191311-120.08
191312-125.61
19141-127.86
19142-126.03
19143-123.59
19144-124.94
19145-124.90
19146-118.57
19147-119.14
19148-119.71
19149-120.27
191410-120.83
191411-116.20
191412-118.81
19151-117.78
19152-121.37
19153-131.07
19154-128.58
19155-130.61
19156-130.70
19157-136.82
19158-142.48
19159-150.97
191510-156.84
191511-157.77
191512-155.87
19161-154.31
19162-154.44
19163-153.40
19164-157.45
19165-159.67
19166-158.15
19167-160.07
19168-167.36
19169-173.30
191610-178.08
191611-171.72
191612-168.51
19171-159.84
19172-165.65
19173-164.04
19174-159.40
19175-163.55
19176-159.97
19177-156.21
19178-149.68
19179-142.58
191710-131.74
191711-128.30
191712-137.12
19181-142.39
19182-140.58
19183-140.29
19184-145.82
19185-147.06
19186-149.28
19187-151.70
19188-151.92
19189-159.37
191810-164.43
191811-162.15
191812-162.10
19191-163.69
19192-169.65
19193-176.27
19194-189.43
19195-195.47
19196-202.81
19197-190.13
19198-194.10
19199-204.98
191910-199.89
191911-194.99
191912-193.98
19201-178.91
19202-192.47
19203-191.89
19204-180.81
19205-178.65
19206-179.40
19207-173.35
19208-180.49
19209-181.70
192010-173.47
192011-158.92
192012-166.91
19211-166.73
19212-163.46
19213-165.16
19214-171.16
19215-158.44
19216-158.93
19217-157.96
19218-162.85
19219-166.04
192110-175.93
192111-183.12
192112-183.83
19221-188.84
19222-196.91
19223-209.87
19224-219.07
19225-218.04
19226-220.63
19227-229.99
19228-237.05
19229-243.36
192210-232.37
192211-232.96
192212-237.27
19231-248.54
19232-253.70
19233-245.98
19234-235.52
19235-227.73
19236-221.26
19237-223.56
19238-226.14
19239-224.02
192310-231.94
192311-241.03
192312-250.17
19241-252.56
19242-248.98
19243-244.54
19244-244.96
19245-250.88
19246-263.82
19247-274.20
19248-272.88
19249-270.68
192410-287.15
192411-304.00
192412-317.94
19251-322.04
19252-314.99
19253-313.08
19254-324.56
19255-331.83
19256-342.52
19257-348.64
19258-358.20
19259-371.55
192510-384.66
192511-392.49
192512-400.05
19261-402.28
19262-376.60
19263-367.73
19264-371.98
19265-391.39
19266-409.61
19267-427.60
19268-435.91
19269-427.91
192610-435.35
192611-447.13
192612-446.05
19271-456.64
19272-465.62
19273-479.02
19274-497.55
19275-506.02
19276-519.30
19277-549.03
19278-582.32
19279-575.53
192710-590.82
192711-606.88
192712-611.54
19281-606.47
19282-641.32
19283-684.05
19284-707.54
19285-675.24
19286-682.61
19287-707.12
19288-759.27
19289-777.17
192810-832.21
192811-837.99
192812-902.46
19291-909.78
19292-928.43
19293-925.64
19294-942.26
19295-963.01
19296-1,051.61
19297-1,114.26
19298-1,161.55
19299-1,041.62
192910-768.81
192911-802.43
192912-817.09
19301-871.32
19302-907.24
19303-967.91
19304-913.21
19305-823.99
19306-809.49
19307-802.24
19308-804.99
19309-697.35
193010-649.94
193011-609.72
193012-631.41
19311-682.80
19312-699.05
19313-635.58
19314-577.36
19315-561.89
19316-583.57
19317-569.06
19318-487.30
19319-425.17
193110-433.90
193111-355.37
193112-352.35
19321-352.18
19322-356.20
19323-273.48
19324-242.53
19325-212.48
19326-225.62
19327-341.48
19328-376.88
19329-327.07
193210-325.97
193211-317.37
193212-331.87
19331-294.48
19332-295.47
19333-328.68
19334-425.05
19335-499.78
19336-542.07
19337-516.91
19338-514.41
19339-466.17
193310-479.23
193311-490.36
193312-520.19
19341-560.50
19342-533.61
19343-544.38
19344-490.89
19345-499.25
19346-477.50
19347-460.72
19348-451.47
19349-456.92
193410-471.59
193411-476.58
193412-478.51
19351-465.98
19352-438.35
19353-473.14
19354-512.25
19355-533.63
19356-563.51
19357-603.55
19358-618.24
19359-636.70
193510-698.52
193511-700.58
193512-741.36
19361-786.08
19362-805.04
19363-808.38
19364-767.80
19365-802.92
19366-852.97
19367-872.57
19368-885.17
19369-934.30
193610-963.28
193611-949.79
193612-982.64
19371-1,015.09
19372-1,017.42
19373-960.20
19374-920.96
19375-890.22
19376-947.14
19377-960.75
19378-828.52
19379-711.72
193710-652.89
193711-646.24
193712-667.15
19381-655.12
19382-615.70
19383-594.50
19384-603.75
19385-621.46
19386-748.77
19387-756.69
19388-725.79
19389-810.10
193810-813.87
193811-793.12
193812-783.90
19391-780.31
19392-782.39
19393-686.62
19394-714.74
19395-730.26
19396-750.98
19397-742.96
19398-825.10
19399-836.51
193910-824.73
193911-808.46
193912-807.26
19401-805.42
19402-804.25
19403-815.67
19404-706.85
19405-649.63
19406-674.77
19407-692.65
19408-725.60
19409-736.24
194010-757.23
194011-730.04
194012-735.30
19411-693.21
19412-701.37
19413-683.51
19414-672.66
19415-700.28
19416-740.28
19417-740.84
19418-747.23
19419-721.57
194110-692.11
194111-651.40
194112-668.44
19421-651.87
19422-620.82
19423-599.38
19424-610.60
19425-645.70
19426-673.99
19427-674.29
19428-685.50
19429-740.12
194210-756.07
194211-764.06
194212-813.75
19431-866.10
19432-900.87
19433-934.99
19434-975.78
19435-997.05
19436-1,021.70
19437-975.33
19438-1,000.23
19439-995.22
194310-953.36
194311-970.24
194312-1,005.80
19441-1,003.35
19442-1,035.86
19443-1,022.31
19444-1,044.83
19445-1,098.56
19446-1,131.72
19447-1,119.78
19448-1,106.06
19449-1,137.95
194410-1,134.72
194411-1,164.23
194412-1,203.63
19451-1,248.56
19452-1,252.49
19453-1,288.83
19454-1,342.46
19455-1,371.82
19456-1,348.56
19457-1,358.09
19458-1,455.60
19459-1,521.30
194510-1,576.16
194511-1,608.07
194512-1,677.20
19461-1,687.03
19462-1,641.85
19463-1,752.99
19464-1,762.07
19465-1,756.11
19466-1,711.37
19467-1,683.58
19468-1,440.77
19469-1,413.80
194610-1,413.61
194611-1,461.59
194612-1,475.03
19471-1,538.02
19472-1,481.53
19473-1,432.67
19474-1,413.15
19475-1,468.56
19476-1,566.86
19477-1,542.43
19478-1,509.01
19479-1,554.68
194710-1,543.33
194711-1,526.01
194712-1,512.81
19481-1,445.51
19482-1,473.25
19483-1,593.88
19484-1,678.83
19485-1,755.84
19486-1,721.48
19487-1,678.64
19488-1,667.26
19489-1,720.42
194810-1,632.66
194811-1,630.08
194812-1,656.64
19491-1,601.52
19492-1,625.40
19493-1,632.13
19494-1,629.14
19495-1,549.11
19496-1,646.13
19497-1,714.78
19498-1,746.87
19499-1,801.75
194910-1,836.84
194911-1,896.39
194912-1,946.26
19501-1,995.36
19502-2,022.80
19503-2,091.29
19504-2,173.16
19505-2,220.20
19506-2,070.92
19507-2,208.38
19508-2,299.11
19509-2,407.66
195010-2,416.72
195011-2,421.42
195012-2,615.44
19511-2,728.14
19512-2,697.79
19513-2,749.76
19514-2,767.04
19515-2,735.36
19516-2,800.09
19517-2,939.12
19518-3,031.29
19519-3,032.15
195110-2,963.82
195111-3,070.91
195112-3,188.65
19521-3,146.17
19522-3,169.76
19523-3,176.19
19524-3,190.80
19525-3,294.33
19526-3,405.25
19527-3,435.23
19528-3,397.15
19529-3,342.42
195210-3,465.01
195211-3,621.24
195212-3,657.05
19531-3,628.77
19532-3,663.50
19533-3,499.63
19534-3,534.73
19535-3,424.88
19536-3,490.42
19537-3,521.79
19538-3,377.16
19539-3,495.92
195310-3,590.60
195311-3,656.55
195312-3,767.12
19541-3,867.94
19542-3,967.83
19543-4,144.42
19544-4,327.70
19545-4,380.63
19546-4,575.89
19547-4,685.45
19548-4,813.82
19549-4,944.31
195410-5,157.02
195411-5,412.47
195412-5,529.84
19551-5,734.70
19552-5,709.68
19553-5,927.11
19554-5,922.45
19555-6,286.39
19556-6,766.93
19557-6,746.67
19558-7,071.62
19559-6,737.50
195510-7,213.58
195511-7,302.82
195512-7,128.45
19561-7,196.13
19562-7,714.69
19563-7,829.08
19564-7,606.85
19565-7,586.92
19566-8,023.08
19567-8,000.24
19568-7,753.12
19569-7,679.19
195610-7,624.48
195611-7,762.40
195612-7,617.82
19571-7,313.43
19572-7,431.94
19573-7,628.45
19574-7,945.80
19575-8,101.08
19576-8,289.20
19577-7,857.73
19578-7,563.90
19579-7,117.88
195710-6,989.73
195711-7,011.96
195712-7,175.25
19581-7,225.61
19582-7,400.39
19583-7,466.74
19584-7,732.39
19585-7,943.89
19586-8,187.82
19587-8,519.78
19588-8,770.58
19589-9,152.89
195810-9,457.34
195811-9,661.85
195812-10,072.93
19591-9,945.51
19592-10,224.59
19593-10,422.59
19594-10,606.59
19595-10,542.29
19596-10,987.97
19597-10,952.97
19598-10,547.36
19599-10,566.00
195910-10,636.70
195911-11,005.06
195912-10,841.55
19601-10,450.25
19602-10,337.58
19603-10,501.36
19604-10,435.77
19605-10,851.96
19606-10,613.64
19607-10,771.87
19608-10,478.80
19609-10,303.38
196010-10,668.21
196011-10,955.25
196012-11,549.79
19611-12,054.99
19612-12,464.50
19613-12,828.34
19614-12,990.41
19615-12,850.09
19616-12,846.50
19617-13,339.67
19618-13,267.41
19619-13,445.60
196110-14,087.23
196111-14,251.07
196112-13,754.11
19621-14,016.75
19622-14,064.54
19623-13,650.35
19624-12,669.56
19625-11,223.62
19626-11,528.60
19627-11,877.12
19628-11,806.65
19629-11,469.41
196210-12,295.31
196211-12,863.81
196212-13,397.24
19631-13,610.99
19632-13,596.25
19633-14,273.10
19634-14,597.04
19635-14,628.66
19636-14,449.91
19637-14,887.91
19638-15,318.71
19639-15,395.29
196310-15,348.09
196311-15,715.42
196312-16,238.78
19641-16,479.09
19642-16,820.38
19643-17,105.17
19644-17,313.91
19645-17,253.20
19646-17,936.61
19647-17,716.76
19648-18,064.98
19649-18,420.89
196410-18,593.48
196411-18,316.38
196412-18,833.05
19651-19,016.68
19652-19,080.50
19653-19,377.70
19654-19,713.44
19655-18,824.89
19656-18,844.25
19657-19,243.49
19658-19,935.50
19659-20,433.26
196510-20,653.12
196511-20,609.41
196512-21,017.57
19661-20,927.11
19662-20,118.83
19663-20,786.97
19664-19,746.04
19665-19,635.56
19666-19,639.17
19667-18,506.10
19668-17,909.31
19669-17,808.23
196610-18,754.92
196611-18,889.17
196612-19,669.35
19671-20,403.02
19672-20,940.38
19673-21,357.61
19674-21,797.08
19675-21,580.89
19676-22,010.87
19677-22,418.44
19678-22,789.22
19679-22,811.42
196710-22,154.05
196711-22,843.43
196712-22,839.43
19681-21,867.16
19682-21,526.21
19683-23,175.48
19684-23,768.24
19685-24,467.19
19686-24,479.16
19687-24,005.76
19688-24,847.80
19689-25,522.96
196810-25,978.74
196811-26,312.65
196812-25,264.05
19691-25,203.78
19692-24,721.43
19693-25,283.66
19694-26,172.00
19695-24,870.91
19696-23,825.00
19697-23,757.43
19698-23,906.75
19699-24,228.64
196910-24,470.31
196911-23,240.07
196912-23,103.18
19701-22,364.78
19702-22,814.82
19703-22,187.93
19704-19,703.10
19705-19,649.93
19706-19,752.61
19707-20,395.71
19708-21,684.98
19709-22,224.83
197010-22,270.79
197011-23,865.01
197012-24,846.02
19711-25,877.40
19712-26,610.20
19713-27,587.82
19714-27,282.19
19715-26,846.80
19716-26,722.51
19717-26,317.10
19718-26,971.45
19719-26,468.79
197110-25,311.70
197111-27,124.93
197112-28,324.54
19721-28,915.66
19722-29,673.14
19723-30,046.69
19724-29,813.56
19725-29,967.43
19726-29,816.44
19727-30,944.60
19728-30,570.02
19729-30,697.63
197210-32,310.55
197211-33,057.41
197212-33,384.47
19731-32,274.40
19732-31,840.19
19733-31,320.15
19734-30,515.29
19735-29,908.10
19736-30,270.06
19737-29,775.02
19738-30,369.12
19739-31,655.35
197310-29,486.05
197311-27,479.44
197312-27,946.71
19741-27,255.63
19742-28,502.47
19743-27,129.61
19744-26,395.57
19745-26,516.26
19746-23,507.50
19747-22,622.50
19748-20,357.18
19749-20,841.05
197410-21,621.22
197411-20,304.10
197412-22,056.90
19751-24,440.71
19752-25,656.30
19753-26,037.82
19754-27,785.64
19755-28,589.93
19756-28,713.44
19757-26,704.58
19758-26,476.87
19759-27,793.11
197510-28,360.56
197511-28,026.01
197512-30,701.17
19761-31,983.90
19762-32,240.55
19763-32,593.72
19764-32,468.80
19765-32,761.21
19766-33,634.41
19767-33,445.85
19768-34,261.22
19769-33,196.31
197610-33,074.60
197611-34,326.97
197612-34,142.55
19771-33,333.85
19772-33,315.79
19773-32,918.10
19774-32,939.34
19775-33,235.71
19776-33,661.94
19777-32,962.24
19778-32,574.82
19779-31,858.87
197710-32,171.45
197711-32,145.67
197712-31,055.82
19781-30,753.96
19782-30,835.66
19783-32,325.02
19784-34,104.29
19785-34,334.01
19786-34,312.62
19787-36,827.10
19788-36,974.29
19789-35,948.81
197810-33,994.04
197811-34,647.69
197812-36,097.80
19791-35,716.26
19792-36,552.44
19793-37,440.99
19794-36,732.22
19795-37,620.28
19796-38,154.80
19797-40,068.01
19798-40,685.24
19799-39,321.26
197910-39,194.47
197911-40,920.60
197912-42,276.08
19801-44,134.47
19802-40,260.42
19803-39,792.58
19804-41,796.59
19805-44,664.95
19806-46,884.56
19807-48,527.72
19808-49,903.87
19809-51,563.06
198010-53,942.53
198011-53,271.07
198012-53,276.39
19811-51,640.71
19812-53,780.34
19813-54,476.15
19814-53,595.12
19815-54,054.75
19816-52,964.87
19817-53,389.95
19818-48,957.15
19819-49,802.76
198110-51,318.62
198111-51,923.86
198112-49,429.37
19821-48,483.34
19822-47,152.70
19823-49,731.63
19824-50,014.92
19825-47,378.83
19826-47,494.36
19827-47,871.45
19828-53,662.16
19829-58,428.11
198210-61,057.33
198211-61,884.96
198212-64,314.41
19831-65,684.32
19832-68,223.42
19833-71,087.03
19834-74,231.92
19835-75,533.58
19836-76,068.46
19837-74,237.35
19838-76,697.46
19839-77,194.40
198310-76,313.28
198311-76,215.51
198312-77,416.61
19841-73,458.93
19842-73,783.89
19843-74,158.12
19844-73,970.82
19845-72,603.61
19846-71,944.04
19847-78,567.62
19848-79,673.04
19849-79,344.46
198410-80,364.76
198411-79,796.13
198412-83,544.61
19851-88,379.64
19852-87,956.90
19853-88,858.20
19854-91,289.04
19855-93,581.28
19856-95,684.26
19857-93,918.58
19858-92,148.22
19859-93,526.36
198510-99,531.23
198511-104,800.93
198512-105,588.75
19861-111,604.40
19862-118,504.64
19863-121,753.36
19864-122,352.18
19865-126,185.77
19866-123,909.49
19867-126,735.68
19868-123,622.75
19869-123,511.65
198610-127,875.26
198611-130,060.57
198612-138,739.99
19871-147,705.20
19872-154,169.38
19873-152,849.06
19874-153,113.23
19875-160,000.94
19876-164,996.33
19877-175,645.21
19878-170,322.41
19879-150,132.59
198710-131,661.15
198711-129,903.88
198712-135,420.30
19881-139,927.86
19882-144,450.41
19883-143,170.54
19884-140,037.59
19885-148,437.32
19886-147,981.74
19887-145,438.69
19888-148,241.54
19889-153,877.12
198810-150,768.42
198811-154,275.22
198812-159,694.38
19891-164,964.06
19892-164,697.38
19893-170,568.51
19894-177,587.92
19895-183,612.81
19896-188,754.29
19897-197,608.29
19898-198,508.47
19899-199,076.71
198910-195,466.35
198911-200,815.69
198912-196,375.20
19901-191,412.44
19902-196,594.29
19903-196,979.59
19904-204,565.13
19905-211,049.75
19906-211,407.96
19907-194,788.70
19908-186,332.80
19909-182,017.76
199010-187,448.84
199011-196,046.38
199012-194,703.12
19911-217,301.88
19912-223,917.89
19913-228,975.81
19914-228,566.22
19915-229,359.37
19916-231,149.49
19917-237,341.83
19918-236,622.45
19919-237,052.26
199110-237,089.71
199111-239,306.83
199112-256,915.08
19921-255,371.42
19922-252,786.10
19923-253,454.22
19924-258,696.54
19925-255,258.15
19926-260,139.02
19927-262,588.80
19928-263,581.88
19929-260,466.20
199210-267,647.00
199211-276,402.26
199212-276,797.22
19931-281,569.89
19932-287,624.08
19933-283,764.89
19934-285,821.41
19935-288,294.28
19936-288,470.15
19937-293,554.34
19938-297,531.92
19939-301,226.99
199310-301,249.72
199311-303,922.34
199312-309,198.07
19941-308,964.01
19942-304,564.92
19943-294,373.03
19944-297,488.21
19945-300,784.65
19946-299,223.96
19947-308,446.27
19948-310,967.71
19949-309,586.99
199410-308,441.88
199411-305,278.17
199412-312,761.07
19951-324,705.71
19952-333,012.24
19953-343,720.42
19954-355,227.36
19955-366,517.98
19956-379,520.13
19957-381,467.54
19958-395,649.23
19959-399,259.79
199510-408,675.88
199511-422,526.47
199512-423,213.41
19961-448,201.59
19962-447,302.07
19963-448,183.44
19964-458,737.38
19965-464,602.76
19966-448,450.55
19967-462,243.78
19968-471,598.33
19969-491,025.81
199610-515,832.84
199611-522,013.69
199612-539,018.49
19971-562,525.97
19972-559,017.58
19973-539,981.65
19974-589,756.25
19975-621,230.51
19976-656,863.82
19977-659,148.33
19978-667,005.43
19979-677,980.17
199710-670,169.55
199711-687,825.94
199712-689,456.70
19981-733,596.81
19982-772,571.87
19983-798,883.16
19984-797,110.78
19985-798,039.07
19986-833,692.79
19987-775,576.01
19988-737,584.80
19989-747,105.97
199810-829,096.25
199811-863,123.23
199812-906,690.99
19991-906,086.13
19992-932,575.65
19993-972,210.32
19994-971,249.47
19995-965,307.68
19996-1,008,962.64
19997-970,880.49
19998-965,074.47
19999-952,794.17
199910-1,020,499.25
199911-1,049,162.32
199912-1,047,914.53
20001-1,021,946.39
20002-1,062,220.83
20003-1,077,353.92
20004-1,046,770.06
20005-1,079,884.42
20006-1,089,067.14
20007-1,099,301.23
20008-1,087,432.61
20009-1,030,731.38
200010-1,022,768.32
200011-988,811.66
200012-993,310.82
20011-972,091.14
20012-883,826.21
20013-887,791.88
20014-948,866.04
20015-926,200.93
20016-901,561.88
20017-883,117.38
20018-783,790.30
20019-808,746.43
200110-849,613.57
200111-862,069.32
200112-859,503.03
20021-830,685.88
20022-871,765.54
20023-841,127.94
20024-817,405.00
20025-769,006.79
20026-686,273.20
20027-694,088.42
20028-661,065.57
20029-652,028.52
200210-695,229.17
200211-688,033.12
200212-686,502.12
20031-642,464.14
20032-650,866.92
20033-685,270.82
20034-721,673.86
20035-762,839.47
20036-767,385.24
20037-766,108.89
20038-790,326.98
20039-806,353.46
200310-816,115.06
200311-841,119.28
200312-882,628.19
20041-892,219.38
20042-878,254.39
20043-886,757.10
20044-864,018.40
20045-888,709.25
20046-868,813.01
20047-856,757.62
20048-880,597.97
20049-881,501.42
200410-923,583.38
200411-948,773.63
200412-935,972.57
20051-951,708.21
20052-949,275.75
20053-926,408.47
20054-938,784.09
20055-959,256.13
20056-976,597.48
20057-979,625.11
20058-982,365.03
20059-956,585.61
200510-994,481.15
200511-1,015,804.13
200512-1,030,703.65
20061-1,030,532.14
20062-1,045,847.27
20063-1,054,196.59
20064-1,045,903.91
20065-1,017,603.91
20066-1,024,931.07
20067-1,048,420.03
20068-1,074,957.36
20069-1,113,826.88
200610-1,136,121.72
200611-1,160,528.62
200612-1,168,569.07
20071-1,187,220.00
20072-1,157,849.47
20073-1,206,250.59
20074-1,247,163.63
20075-1,251,465.11
20076-1,258,656.28
20077-1,205,778.77
20078-1,242,853.37
20079-1,280,034.98
200710-1,218,512.53
200711-1,233,600.41
200712-1,151,748.59
20081-1,133,735.64
20082-1,103,956.53
20083-1,150,806.27
20084-1,180,296.88
20085-1,130,174.60
20086-1,061,477.26
20087-1,083,880.11
20088-1,031,338.63
20089-823,074.38
200810-752,245.97
200811-749,603.95
200812-741,391.62
20091-691,699.79
20092-652,359.81
20093-732,741.95
20094-781,541.26
20095-803,962.59
20096-814,234.36
20097-880,356.25
20098-912,492.28
20099-934,420.46
200910-953,990.26
200911-975,224.73
200912-988,458.22
20101-959,808.02
20102-1,016,849.75
20103-1,058,417.86
20104-996,157.52
20105-960,858.04
20106-959,329.58
20107-967,614.46
20108-1,000,234.24
20109-1,046,019.32
201010-1,072,074.77
201011-1,111,888.80
201012-1,150,384.54
20111-1,186,631.59
20112-1,173,430.77
20113-1,199,492.47
20114-1,207,399.94
20115-1,163,177.71
20116-1,199,256.41
20117-1,074,525.98
20118-1,066,045.34
20119-1,098,228.25
201110-1,117,635.29
201111-1,135,011.73
201112-1,189,294.33
20121-1,238,799.99
20122-1,274,524.97
20123-1,274,037.97
20124-1,234,658.07
20125-1,220,429.73
20126-1,256,079.54
20127-1,298,631.76
20128-1,337,865.58
20129-1,334,960.61
201210-1,297,081.18
201211-1,325,299.64
201212-1,381,873.52
20131-1,414,112.93
20132-1,452,611.50
20133-1,473,729.45
20134-1,541,141.81
20135-1,523,915.31
20136-1,573,510.78
20137-1,577,484.34
20138-1,596,295.33
20139-1,630,097.68
201310-1,693,019.35
201311-1,718,781.38
201312-1,735,415.88
20141-1,733,159.21
20142-1,780,340.47
20143-1,783,931.85
20144-1,811,262.30
20145-1,869,156.00
20146-1,897,115.25
20147-1,889,015.50
20148-1,922,602.84
20149-1,871,719.54
201410-1,978,513.35
201411-1,991,054.90
201412-1,968,953.29
20151-2,024,623.43
20152-2,025,744.34
20153-2,043,538.67
20154-2,063,542.95
20155-2,054,556.22
20156-2,052,920.17
20157-2,003,149.23
20158-1,912,865.38
20159-1,995,446.06
201510-2,053,961.92
201511-2,031,307.34
201512-1,900,905.09
20161-1,890,451.84
20162-2,010,736.14
20163-2,067,665.31
20164-2,061,372.06
20165-2,083,356.39
20166-2,152,053.79
20167-2,177,862.45
20168-2,168,308.79
20169-2,157,337.56
201610-2,183,250.65
201611-2,269,400.93
201612-2,302,026.63
20171-2,361,337.08
20172-2,402,642.94
20173-2,398,942.77
20174-2,439,541.83
20175-2,482,878.54
20176-2,507,406.50
20177-2,513,619.99
20178-2,555,176.74
20179-2,625,055.69
201710-2,666,782.76
201711-2,743,679.07
201712-2,877,073.96
20181-2,794,021.85
20182-2,795,826.18
20183-2,749,304.42
20184-2,803,235.36
20185-2,862,466.87
20186-2,907,715.09
20187-2,978,977.51
20188-3,029,016.82
20189-2,912,430.38
201810-2,851,965.17
201811-2,693,324.26
201812-2,740,070.58
20191-2,899,786.62
20192-2,956,275.10
20193-3,066,343.72
20194-3,019,373.82
20195-3,061,788.44
20196-3,178,973.62
20197-3,079,331.42
20198-3,174,335.80
20199-3,174,646.97
201910-3,315,401.05
201911-3,397,268.90
201912-3,510,955.03
20201-3,515,241.09
20202-2,850,238.01
20203-2,973,328.80
20204-3,148,379.53
20205-3,353,284.63
20206-3,469,859.38
20207-3,674,355.71
20208-3,651,317.41
20209-3,714,339.20
202010-3,861,208.50
202011-4,025,699.09
202012-4,138,229.44
20211-4,241,334.61
20212-4,276,171.14
20213-4,533,660.19
20214-4,568,126.50
20215-4,650,828.91
20216-4,793,525.71
20217-4,898,272.00
20218-4,894,133.02
20219-4,916,263.12
202110-5,149,527.22
202111-5,163,194.25
202112-5,057,247.94
20221-4,910,457.79
20222-4,866,627.84
20223-4,872,385.15
20224-4,488,795.41
20225-4,337,550.62
20226-4,357,706.58
20227-4,638,665.09
20228-4,301,090.68
20229-4,168,136.44
202210-4,388,426.37
202211-4,388,901.97
202212-4,449,313.28
20231-4,589,331.91
20232-4,470,678.08
20233-4,649,336.27
20234-4,683,634.20
20235-4,915,108.15
20236-5,105,619.81
20237-5,054,684.27
20238-5,006,483.95
20239-4,854,421.39
202310-5,077,808.45
202311-5,340,597.58
202312-5,496,107.06
20241-5,726,903.52
20242-5,914,867.37
20243-5,855,178.78
20244-6,002,536.82
20245-6,323,289.58
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Data Sources

The information on this page is derived from Robert Shiller's book, Irrational Exuberance and the accompanying dataset, as well as the U.S. Bureau of Labor Statistics' monthly CPI logs.

Note that S&P index value for the current quarter is based on a moving average of closing prices, per Robert Shiller's methodology. The inflation data used is based on annual CPI averages.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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S&P 500 from 1908 to 2024
Start Value
Average monthly close
$6.85
End Value
Average monthly close
$5,509.01
Change in price+80,323.50%
+5.94% / yr
Change incl. dividends+8,325,855.38%
+10.22% / yr
Change incl. dividends, inflation-adjusted+243,709.31%
+6.93% / yr
Final amount, nominal
($100 base)
$8,325,955.38
Final amount, inflation-adjusted
($100 base)
$243,809.31