S&P 500: $100 in 1909 → $4,029,545.61 in 2022

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Stock market returns since 1909

If you invested $100 in the S&P 500 at the beginning of 1909, you would have about $4,029,545.61 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 4,029,445.61%, or 9.79% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $3,667,712.57.

This investment result beats inflation during this period for an inflation-adjusted return of about 123,709.78% cumulatively, or 6.48% per year.

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 $4,029,445.61, or 4,029,445.61%. This means by 2022 you would have $4,029,545.61 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 1909 was 9.100 and the CPI in 2022 was 296.171.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 113 years.

Adjusted for inflation, the $4,029,545.61 nominal end value of the original $100 investment would have a real return of roughly $123,709.78 in 1909 dollars. This means the inflation-adjusted return is 123,709.78% as opposed to the original 4,029,445.61%.

For more information on inflation, see our U.S. inflation calculator for 1909.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1362-month period between 1909 and 2022.

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

YearMonthReturn (%)Amount ($)
19091-2.50%97.50
190921.75%99.21
190934.87%104.03
190943.70%107.88
190952.13%110.17
190961.79%112.14
190972.77%115.25
190980.45%115.76
190990.74%116.62
190910-0.14%116.47
1909111.54%118.25
190912-1.78%116.15
19101-3.21%112.43
191022.85%115.63
19103-2.04%113.28
19104-1.26%111.85
19105-4.42%106.91
19106-4.64%101.95
191072.87%104.88
191081.11%106.04
191095.03%111.38
1910100.31%111.73
191011-2.37%109.07
1910122.86%112.20
191112.15%114.61
19112-0.75%113.75
19113-0.01%113.74
191142.58%116.67
191152.42%119.49
19116-0.01%119.48
19117-4.37%114.26
19118-5.03%108.51
191191.03%109.63
1911104.46%114.52
1911110.87%115.52
1911120.54%116.15
19121-0.45%115.63
191223.31%119.46
191233.54%123.69
191240.31%124.07
191250.41%124.58
191260.52%125.22
191272.71%128.61
191280.91%129.79
191290.20%130.05
191210-0.71%129.12
191211-3.19%125.01
191212-0.43%124.47
19131-3.12%120.59
19132-1.45%118.85
191330.34%119.25
19134-2.28%116.54
19135-4.56%111.22
191361.85%113.28
191373.16%116.85
191381.42%118.51
19139-2.70%115.32
191310-2.06%112.95
1913110.37%113.37
1913124.60%118.58
191411.79%120.70
19142-1.42%118.98
19143-1.94%116.68
191441.09%117.95
19145-0.03%117.92
19146-5.07%111.93
191470.48%112.47
191480.48%113.01
191490.47%113.54
1914100.47%114.07
191411-3.84%109.70
1914122.24%112.16
19151-0.87%111.19
191523.05%114.58
191537.99%123.74
19154-1.90%121.39
191551.58%123.30
191560.07%123.38
191574.69%129.17
191584.14%134.51
191595.95%142.52
1915103.89%148.07
1915110.59%148.94
191512-1.20%147.15
19161-1.00%145.68
191620.08%145.80
19163-0.67%144.82
191642.64%148.64
191651.41%150.73
19166-0.95%149.31
191671.22%151.12
191684.55%157.99
191693.55%163.61
1916102.75%168.11
191611-3.57%162.12
191612-1.87%159.08
19171-5.15%150.90
191723.64%156.39
19173-0.97%154.86
19174-2.83%150.48
191752.61%154.40
19176-2.19%151.02
19177-2.36%147.47
19178-4.17%141.31
19179-4.74%134.61
191710-7.61%124.37
191711-2.61%121.13
1917126.88%129.45
191813.84%134.42
19182-1.27%132.72
19183-0.21%132.44
191843.94%137.66
191850.85%138.84
191861.51%140.93
191871.62%143.22
191880.14%143.42
191894.91%150.46
1918103.17%155.23
191811-1.39%153.08
191812-0.03%153.03
191910.98%154.53
191923.64%160.16
191933.90%166.41
191947.47%178.83
191953.19%184.54
191963.75%191.46
19197-6.25%179.50
191982.09%183.25
191995.60%193.52
191910-2.48%188.71
191911-2.45%184.08
191912-0.51%183.13
19201-7.77%168.90
192027.58%181.71
19203-0.30%181.16
19204-5.77%170.70
19205-1.20%168.66
192060.42%169.36
19207-3.37%163.65
192084.12%170.39
192090.67%171.54
192010-4.53%163.76
192011-8.39%150.03
1920125.03%157.57
19211-0.11%157.40
19212-1.96%154.32
192131.04%155.92
192143.63%161.59
19215-7.43%149.58
192160.31%150.04
19217-0.61%149.12
192183.10%153.74
192191.96%156.75
1921105.96%166.09
1921114.09%172.88
1921120.39%173.55
192212.72%178.27
192224.28%185.90
192236.58%198.13
192244.38%206.81
19225-0.47%205.84
192261.19%208.29
192274.24%217.12
192283.07%223.79
192292.67%229.75
192210-4.52%219.37
1922110.25%219.93
1922121.85%224.00
192314.75%234.63
192322.08%239.51
19233-3.04%232.22
19234-4.25%222.34
19235-3.31%214.99
19236-2.84%208.89
192371.04%211.05
192381.16%213.49
19239-0.94%211.49
1923103.54%218.97
1923113.92%227.55
1923123.79%236.17
192410.95%238.43
19242-1.42%235.05
19243-1.79%230.86
192440.17%231.26
192452.42%236.85
192465.16%249.06
192473.93%258.86
19248-0.48%257.62
19249-0.81%255.54
1924106.08%271.09
1924115.87%287.00
1924124.58%300.16
192511.29%304.02
19252-2.19%297.37
19253-0.61%295.56
192543.67%306.41
192552.24%313.27
192563.22%323.36
192571.79%329.13
192582.74%338.16
192593.73%350.77
1925103.53%363.14
1925112.04%370.53
1925121.93%377.67
192610.56%379.78
19262-6.38%355.53
19263-2.35%347.16
192641.15%351.17
192655.22%369.49
192664.66%386.69
192674.39%403.68
192681.94%411.52
19269-1.83%403.97
1926101.74%410.99
1926112.71%422.11
192612-0.24%421.10
192712.37%431.09
192721.97%439.57
192732.88%452.22
192743.87%469.71
192751.70%477.71
192762.62%490.25
192775.73%518.32
192786.06%549.74
19279-1.17%543.34
1927102.66%557.77
1927112.72%572.92
1927120.77%577.33
19281-0.83%572.54
192825.75%605.44
192836.66%645.78
192843.44%667.96
19285-4.57%637.47
192861.09%644.42
192873.59%667.56
192887.37%716.79
192892.36%733.69
1928107.08%785.65
1928110.70%791.11
1928127.69%851.97
192910.81%858.88
192922.05%876.49
19293-0.30%873.85
192941.80%889.55
192952.20%909.14
192969.20%992.78
192975.96%1,051.92
192984.24%1,096.57
19299-10.32%983.35
192910-26.19%725.80
1929114.37%757.54
1929121.83%771.38
193016.64%822.57
193024.12%856.48
193036.69%913.76
19304-5.65%862.12
19305-9.77%777.90
19306-1.76%764.20
19307-0.90%757.36
193080.34%759.96
19309-13.37%658.34
193010-6.80%613.58
193011-6.19%575.61
1930123.56%596.09
193118.14%644.60
193122.38%659.94
19313-9.08%600.02
19314-9.16%545.06
19315-2.68%530.46
193163.86%550.92
19317-2.49%537.23
19318-14.37%460.04
19319-12.75%401.38
1931102.05%409.63
193111-18.10%335.49
193112-0.85%332.64
19321-0.05%332.48
193221.14%336.27
19323-23.22%258.18
19324-11.31%228.97
19325-12.39%200.59
193266.18%213.00
1932751.35%322.38
1932810.37%355.80
19329-13.22%308.77
193210-0.34%307.74
193211-2.64%299.61
1932124.57%313.31
19331-11.27%278.01
193320.33%278.94
1933311.24%310.30
1933429.32%401.27
1933517.58%471.82
193368.46%511.75
19337-4.64%487.99
19338-0.48%485.63
19339-9.38%440.09
1933102.80%452.42
1933112.32%462.92
1933126.08%491.09
193417.75%529.15
19342-4.80%503.76
193432.02%513.93
19344-9.83%463.43
193451.70%471.32
19346-4.36%450.79
19347-3.51%434.94
19348-2.01%426.21
193491.21%431.36
1934103.21%445.21
1934111.06%449.92
1934120.40%451.75
19351-2.62%439.91
19352-5.93%413.83
193537.94%446.67
193548.27%483.60
193554.17%503.78
193565.60%531.99
193577.10%569.79
193582.43%583.65
193592.99%601.08
1935109.71%659.45
1935110.29%661.38
1935125.82%699.89
193616.03%742.11
193622.41%760.00
193630.41%763.15
19364-5.02%724.84
193654.57%758.00
193666.23%805.25
193672.30%823.76
193681.44%835.65
193695.55%882.03
1936103.10%909.39
193611-1.40%896.66
1936123.46%927.67
193713.30%958.30
193720.23%960.51
19373-5.62%906.48
19374-4.09%869.44
19375-3.34%840.42
193766.39%894.15
193771.44%907.00
19378-13.76%782.17
19379-14.10%671.90
193710-8.27%616.37
193711-1.02%610.08
1937123.24%629.83
19381-1.80%618.47
19382-6.02%581.25
19383-3.44%561.24
193841.56%569.97
193852.93%586.69
1938620.49%706.88
193871.06%714.36
19388-4.08%685.18
1938911.62%764.78
1938100.47%768.34
193811-2.55%748.75
193812-1.16%740.04
19391-0.46%736.66
193920.27%738.62
19393-12.24%648.21
193944.10%674.76
193952.17%689.41
193962.84%708.96
19397-1.07%701.40
1939811.06%778.94
193991.38%789.72
193910-1.41%778.60
193911-1.97%763.23
193912-0.15%762.10
19401-0.23%760.36
19402-0.15%759.26
194031.42%770.04
19404-13.34%667.31
19405-8.09%613.29
194063.87%637.02
194072.65%653.90
194084.76%685.01
194091.47%695.05
1940102.85%714.86
194011-3.59%689.20
1940120.72%694.17
19411-5.72%654.43
194121.18%662.13
19413-2.55%645.27
19414-1.59%635.03
194154.11%661.11
194165.71%698.87
194170.08%699.40
194180.86%705.43
19419-3.43%681.20
194110-4.08%653.39
194111-5.88%614.96
1941122.62%631.05
19421-2.48%615.40
19422-4.76%586.09
19423-3.45%565.85
194241.87%576.44
194255.75%609.57
194264.38%636.28
194270.05%636.57
194281.66%647.15
194297.97%698.72
1942102.15%713.77
1942111.06%721.31
1942126.50%768.22
194316.43%817.65
194324.01%850.48
194333.79%882.68
194344.36%921.19
194352.18%941.27
194362.47%964.55
19437-4.54%920.77
194382.55%944.27
19439-0.50%939.55
194310-4.21%900.03
1943111.77%915.96
1943123.67%949.54
19441-0.24%947.22
194423.24%977.91
19443-1.31%965.12
194442.20%986.38
194455.14%1,037.10
194463.02%1,068.41
19447-1.06%1,057.13
19448-1.23%1,044.18
194492.88%1,074.29
194410-0.28%1,071.24
1944112.60%1,099.10
1944123.38%1,136.29
194513.73%1,178.71
194520.31%1,182.42
194532.90%1,216.73
194544.16%1,267.36
194552.19%1,295.08
19456-1.70%1,273.12
194570.71%1,282.12
194587.18%1,374.17
194594.51%1,436.20
1945103.61%1,487.99
1945112.02%1,518.11
1945124.30%1,583.37
194610.59%1,592.65
19462-2.68%1,550.00
194636.77%1,654.92
194640.52%1,663.50
19465-0.34%1,657.86
19466-2.55%1,615.63
19467-1.62%1,589.40
19468-14.42%1,360.17
19469-1.87%1,334.70
194610-0.01%1,334.53
1946113.39%1,379.82
1946120.92%1,392.52
194714.27%1,451.97
19472-3.67%1,398.65
19473-3.30%1,352.52
19474-1.36%1,334.09
194753.92%1,386.40
194766.69%1,479.20
19477-1.56%1,456.14
19478-2.17%1,424.59
194793.03%1,467.71
194710-0.73%1,456.99
194711-1.12%1,440.64
194712-0.86%1,428.18
19481-4.45%1,364.65
194821.92%1,390.83
194838.19%1,504.71
194845.33%1,584.91
194854.59%1,657.61
19486-1.96%1,625.17
19487-2.49%1,584.73
19488-0.68%1,573.99
194893.19%1,624.18
194810-5.10%1,541.33
194811-0.16%1,538.89
1948121.63%1,563.97
19491-3.33%1,511.92
194921.49%1,534.47
194930.41%1,540.82
19494-0.18%1,538.00
19495-4.91%1,462.44
194966.26%1,554.04
194974.17%1,618.85
194981.87%1,649.15
194993.14%1,700.96
1949101.95%1,734.08
1949113.24%1,790.30
1949122.63%1,837.38
195012.52%1,883.73
195021.38%1,909.64
195033.39%1,974.30
195043.91%2,051.58
195052.16%2,095.99
19506-6.72%1,955.07
195076.64%2,084.84
195084.11%2,170.49
195094.72%2,272.97
1950100.38%2,281.52
1950110.19%2,285.96
1950128.01%2,469.13
195114.31%2,575.52
19512-1.11%2,546.87
195131.93%2,595.93
195140.63%2,612.24
19515-1.15%2,582.33
195162.37%2,643.45
195174.97%2,774.70
195183.14%2,861.71
195190.03%2,862.52
195110-2.25%2,798.02
1951113.61%2,899.12
1951123.83%3,010.26
19521-1.33%2,970.16
195220.75%2,992.43
195230.20%2,998.51
195240.46%3,012.29
195253.24%3,110.04
195263.37%3,214.75
195270.88%3,243.06
19528-1.11%3,207.10
19529-1.61%3,155.44
1952103.67%3,271.16
1952114.51%3,418.66
1952120.99%3,452.47
19531-0.77%3,425.76
195320.96%3,458.55
19533-4.47%3,303.85
195341.00%3,336.98
19535-3.11%3,233.28
195361.91%3,295.15
195370.90%3,324.77
19538-4.11%3,188.23
195393.52%3,300.35
1953102.71%3,389.73
1953111.84%3,451.99
1953123.02%3,556.38
195412.68%3,651.56
195422.58%3,745.85
195434.45%3,912.56
195444.42%4,085.60
195451.22%4,135.57
195464.46%4,319.90
195472.39%4,423.33
195482.74%4,544.52
195492.71%4,667.71
1954104.30%4,868.52
1954114.95%5,109.68
1954122.17%5,220.48
195513.70%5,413.89
19552-0.44%5,390.26
195533.81%5,595.53
19554-0.08%5,591.13
195556.15%5,934.71
195567.64%6,388.36
19557-0.30%6,369.24
195584.82%6,676.01
19559-4.72%6,360.58
1955107.07%6,810.03
1955111.24%6,894.28
195512-2.39%6,729.66
195610.95%6,793.55
195627.21%7,283.10
195631.48%7,391.10
19564-2.84%7,181.30
19565-0.26%7,162.48
195665.75%7,574.25
19567-0.28%7,552.68
19568-3.09%7,319.39
19569-0.95%7,249.59
195610-0.71%7,197.94
1956111.81%7,328.15
195612-1.86%7,191.65
19571-4.00%6,904.29
195721.62%7,016.18
195732.64%7,201.69
195744.16%7,501.29
195751.95%7,647.88
195762.32%7,825.47
19577-5.21%7,418.15
19578-3.74%7,140.75
19579-5.90%6,719.69
195710-1.80%6,598.70
1957110.32%6,619.69
1957122.33%6,773.84
195810.70%6,821.39
195822.42%6,986.39
195830.90%7,049.02
195843.56%7,299.82
195852.74%7,499.48
195863.07%7,729.77
195874.05%8,043.16
195882.94%8,279.93
195894.36%8,640.85
1958103.33%8,928.27
1958112.16%9,121.34
1958124.25%9,509.42
19591-1.27%9,389.12
195922.81%9,652.60
195931.94%9,839.51
195941.77%10,013.22
19595-0.61%9,952.52
195964.23%10,373.27
19597-0.32%10,340.23
19598-3.70%9,957.30
195990.18%9,974.90
1959100.67%10,041.65
1959113.46%10,389.40
195912-1.49%10,235.04
19601-3.61%9,865.63
19602-1.08%9,759.26
196031.58%9,913.88
19604-0.62%9,851.96
196053.99%10,244.87
19606-2.20%10,019.88
196071.49%10,169.26
19608-2.72%9,892.58
19609-1.67%9,726.98
1960103.54%10,071.40
1960112.69%10,342.38
1960125.43%10,903.66
196114.37%11,380.60
196123.40%11,767.20
196132.92%12,110.69
196141.26%12,263.69
19615-1.08%12,131.21
19616-0.03%12,127.83
196173.84%12,593.41
19618-0.54%12,525.19
196191.34%12,693.41
1961104.77%13,299.15
1961111.16%13,453.82
196112-3.49%12,984.66
196211.91%13,232.61
196220.34%13,277.73
19623-2.94%12,886.71
19624-7.19%11,960.79
19625-11.41%10,595.73
196262.72%10,883.66
196273.02%11,212.67
19628-0.59%11,146.14
19629-2.86%10,827.77
1962107.20%11,607.47
1962114.62%12,144.17
1962124.15%12,647.75
196311.60%12,849.55
19632-0.11%12,835.64
196334.98%13,474.62
196342.27%13,780.43
196350.22%13,810.29
19636-1.22%13,641.54
196373.03%14,055.03
196382.89%14,461.73
196390.50%14,534.02
196310-0.31%14,489.47
1963112.39%14,836.25
1963123.33%15,330.33
196411.48%15,557.20
196422.07%15,879.40
196431.69%16,148.25
196441.22%16,345.32
19645-0.35%16,288.00
196463.96%16,933.18
19647-1.23%16,725.63
196481.97%17,054.36
196491.97%17,390.37
1964100.94%17,553.31
196411-1.49%17,291.71
1964122.82%17,779.47
196510.98%17,952.83
196520.34%18,013.07
196531.56%18,293.65
196541.73%18,610.61
19655-4.51%17,771.76
196560.10%17,790.05
196572.12%18,166.94
196583.60%18,820.25
196592.50%19,290.16
1965101.08%19,497.71
196511-0.21%19,456.46
1965121.98%19,841.78
19661-0.43%19,756.38
19662-3.86%18,993.32
196633.32%19,624.08
19664-5.01%18,641.39
19665-0.56%18,537.09
196660.02%18,540.50
19667-5.77%17,470.81
19668-3.22%16,907.40
19669-0.56%16,811.98
1966105.32%17,705.71
1966110.72%17,832.45
1966124.13%18,568.98
196713.73%19,261.61
196722.63%19,768.91
196731.99%20,162.80
196742.06%20,577.68
19675-0.99%20,373.59
196761.99%20,779.52
196771.85%21,164.28
196781.65%21,514.32
196790.10%21,535.28
196710-2.88%20,914.69
1967113.11%21,565.50
196712-0.02%21,561.72
19681-4.26%20,643.85
19682-1.56%20,321.96
196837.66%21,878.97
196842.56%22,438.57
196852.94%23,098.42
196860.05%23,109.72
19687-1.93%22,662.80
196883.51%23,457.74
196892.72%24,095.13
1968101.79%24,525.40
1968111.29%24,840.63
196812-3.99%23,850.70
19691-0.24%23,793.80
19692-1.91%23,338.44
196932.27%23,869.21
196943.51%24,707.86
19695-4.97%23,479.55
19696-4.21%22,492.16
19697-0.28%22,428.37
196980.63%22,569.33
196991.35%22,873.21
1969101.00%23,101.36
196911-5.03%21,939.95
196912-0.59%21,810.71
19701-3.20%21,113.62
197022.01%21,538.48
19703-2.75%20,946.67
19704-11.20%18,600.85
19705-0.27%18,550.65
197060.52%18,647.59
197073.26%19,254.71
197086.32%20,471.86
197092.49%20,981.51
1970100.21%21,024.89
1970117.16%22,529.92
1970124.11%23,456.06
197114.15%24,429.73
197122.83%25,121.54
197133.67%26,044.47
19714-1.11%25,755.93
19715-1.60%25,344.91
19716-0.46%25,227.57
19717-1.52%24,844.84
197182.49%25,462.58
19719-1.86%24,988.04
197110-4.37%23,895.68
1971117.16%25,607.47
1971124.42%26,739.97
197212.09%27,298.03
197222.62%28,013.13
197231.26%28,365.79
19724-0.78%28,145.70
197250.52%28,290.96
19726-0.50%28,148.41
197273.78%29,213.46
19728-1.21%28,859.84
197290.42%28,980.31
1972105.25%30,502.99
1972112.31%31,208.08
1972120.99%31,516.84
19731-3.33%30,468.86
19732-1.35%30,058.95
19733-1.63%29,568.00
19734-2.57%28,808.17
19735-1.99%28,234.95
197361.21%28,576.66
19737-1.64%28,109.31
197382.00%28,670.17
197394.24%29,884.45
197310-6.85%27,836.51
197311-6.81%25,942.15
1973121.70%26,383.28
19741-2.47%25,730.86
197424.57%26,907.95
19743-4.82%25,611.89
19744-2.71%24,918.92
197450.46%25,032.86
19746-11.35%22,192.42
19747-3.76%21,356.93
19748-10.01%19,218.33
197492.38%19,675.14
1974103.74%20,411.66
197411-6.09%19,168.22
1974128.63%20,822.97
1975110.81%23,073.42
197524.97%24,221.01
197531.49%24,581.18
197546.71%26,231.23
197552.89%26,990.52
197560.43%27,107.12
19757-7.00%25,210.64
19758-0.85%24,995.67
197594.97%26,238.27
1975102.04%26,773.98
197511-1.18%26,458.14
1975129.55%28,983.65
197614.18%30,194.62
197620.80%30,436.91
197631.10%30,770.33
19764-0.38%30,652.39
197650.90%30,928.44
197662.67%31,752.80
19767-0.56%31,574.78
197682.44%32,344.54
19769-3.11%31,339.20
197610-0.37%31,224.30
1976113.79%32,406.61
197612-0.54%32,232.51
19771-2.37%31,469.04
19772-0.05%31,451.99
19773-1.19%31,076.56
197740.06%31,096.61
197750.90%31,376.40
197761.28%31,778.79
19777-2.08%31,118.23
19778-1.18%30,752.48
19779-2.20%30,076.59
1977100.98%30,371.68
197711-0.08%30,347.34
197712-3.39%29,318.46
19781-0.97%29,033.48
197820.27%29,110.62
197834.83%30,516.66
197845.50%32,196.39
197850.67%32,413.25
19786-0.06%32,393.06
197877.33%34,766.87
197880.40%34,905.83
19789-2.77%33,937.72
197810-5.44%32,092.30
1978111.92%32,709.38
1978124.19%34,078.37
19791-1.06%33,718.18
197922.34%34,507.58
197932.43%35,346.42
19794-1.89%34,677.31
197952.42%35,515.68
197961.42%36,020.30
197975.01%37,826.48
197981.54%38,409.18
19799-3.35%37,121.50
197910-0.32%37,001.81
1979114.40%38,631.37
1979123.31%39,911.02
198014.40%41,665.45
19802-8.78%38,008.13
19803-1.16%37,566.45
198045.04%39,458.35
198056.86%42,166.25
198064.97%44,261.69
198073.50%45,812.92
198082.84%47,112.09
198093.32%48,678.46
1980104.61%50,924.82
198011-1.24%50,290.92
1980120.01%50,295.94
19811-3.07%48,751.77
198124.14%50,771.70
198131.29%51,428.58
19814-1.62%50,596.84
198150.86%51,030.75
19816-2.02%50,001.85
198170.80%50,403.14
19818-8.30%46,218.33
198191.73%47,016.63
1981103.04%48,447.69
1981111.18%49,019.07
198112-4.80%46,664.14
19821-1.91%45,771.03
19822-2.74%44,514.83
198235.47%46,949.48
198240.57%47,216.93
19825-5.27%44,728.31
198260.24%44,837.37
198270.79%45,193.37
1982812.10%50,660.13
198298.88%55,159.46
1982104.50%57,641.59
1982111.36%58,422.92
1982123.93%60,716.46
198312.13%62,009.73
198323.87%64,406.79
198334.20%67,110.19
198344.42%70,079.15
198351.75%71,308.00
198360.71%71,812.95
19837-2.41%70,084.28
198383.31%72,406.76
198390.65%72,875.90
198310-1.14%72,044.08
198311-0.13%71,951.77
1983121.58%73,085.68
19841-5.11%69,349.41
198420.44%69,656.18
198430.51%70,009.48
19844-0.25%69,832.65
19845-1.85%68,541.93
19846-0.91%67,919.27
198479.21%74,172.29
198481.41%75,215.88
19849-0.41%74,905.68
1984101.29%75,868.90
198411-0.71%75,332.08
1984124.70%78,870.86
198515.79%83,435.40
19852-0.48%83,036.31
198531.02%83,887.20
198542.74%86,182.04
198552.51%88,346.04
198562.25%90,331.38
19857-1.85%88,664.48
19858-1.88%86,993.16
198591.50%88,294.20
1985106.42%93,963.14
1985115.29%98,938.03
1985120.75%99,681.78
198615.70%105,360.90
198626.18%111,875.12
198632.74%114,942.09
198640.49%115,507.41
198653.13%119,126.54
19866-1.80%116,977.60
198672.28%119,645.69
19868-2.46%116,706.91
19869-0.09%116,602.02
1986103.53%120,721.51
1986111.71%122,784.57
1986126.67%130,978.44
198716.46%139,442.10
198724.38%145,544.66
19873-0.86%144,298.20
198740.17%144,547.59
198754.50%151,049.98
198763.12%155,765.91
198776.45%165,819.06
19878-3.03%160,794.04
19879-11.85%141,733.70
198710-12.30%124,295.61
198711-1.33%122,636.65
1987124.25%127,844.46
198813.33%132,099.85
198823.23%136,369.39
19883-0.89%135,161.13
19884-2.19%132,203.44
198856.00%140,133.27
19886-0.31%139,703.17
19887-1.72%137,302.39
198881.93%139,948.44
198893.80%145,268.74
198810-2.02%142,333.96
1988112.33%145,644.58
1988123.51%150,760.57
198913.30%155,735.45
19892-0.16%155,483.69
198933.56%161,026.37
198944.12%167,653.09
198953.39%173,340.93
198962.80%178,194.78
198974.69%186,553.45
198980.46%187,403.27
198990.29%187,939.73
198910-1.81%184,531.34
1989112.74%189,581.43
198912-2.21%185,389.35
19901-2.53%180,704.22
199022.71%185,596.19
199030.20%185,959.93
199043.85%193,121.11
199053.17%199,242.96
199060.17%199,581.13
19907-7.86%183,891.60
19908-4.34%175,908.75
19909-2.32%171,835.11
1990102.98%176,962.36
1990114.59%185,078.92
199012-0.69%183,810.81
1991111.61%205,145.32
199123.04%211,391.22
199132.26%216,166.18
19914-0.18%215,779.51
199150.35%216,528.29
199160.78%218,218.26
199172.68%224,064.18
19918-0.30%223,385.04
199190.18%223,790.81
1991100.02%223,826.16
1991110.94%225,919.25
1991127.36%242,542.44
19921-0.60%241,085.14
19922-1.01%238,644.44
199230.26%239,275.19
199242.07%244,224.24
19925-1.33%240,978.20
199261.91%245,586.02
199270.94%247,898.75
199280.38%248,836.28
19929-1.18%245,894.89
1992102.76%252,673.98
1992113.27%260,939.45
1992120.14%261,312.31
199311.72%265,817.98
199322.15%271,533.48
19933-1.34%267,890.19
199340.72%269,831.65
199350.87%272,166.19
199360.06%272,332.22
199371.76%277,131.98
199381.35%280,887.04
199391.24%284,375.40
1993100.01%284,396.86
1993110.89%286,919.97
1993121.74%291,900.55
19941-0.08%291,679.58
19942-1.42%287,526.59
19943-3.35%277,904.87
199441.06%280,845.78
199451.11%283,957.81
19946-0.52%282,484.42
199473.08%291,190.81
199480.82%293,571.19
19949-0.44%292,267.72
199410-0.37%291,186.67
199411-1.03%288,199.95
1994122.45%295,264.23
199513.82%306,540.65
199522.56%314,382.48
199533.22%324,491.62
199543.35%335,354.82
199553.18%346,013.81
199563.55%358,288.58
199570.51%360,127.04
199583.72%373,515.36
199590.91%376,923.94
1995102.36%385,813.26
1995113.39%398,889.00
1995120.16%399,537.51
199615.90%423,127.78
19962-0.20%422,278.57
199630.20%423,110.64
199642.35%433,074.16
199651.28%438,611.42
19966-3.48%423,362.81
199673.08%436,384.40
199682.02%445,215.63
199694.12%463,556.28
1996105.05%486,975.52
1996111.20%492,810.59
1996123.26%508,864.10
199714.36%531,056.49
19972-0.62%527,744.37
19973-3.41%509,773.37
199749.22%556,763.42
199755.34%586,476.91
199765.74%620,116.78
199770.35%622,273.48
199781.19%629,691.03
199791.65%640,051.82
199710-1.15%632,678.14
1997112.63%649,346.79
1997120.24%650,886.31
199816.40%692,557.08
199825.31%729,351.76
199833.41%754,191.11
19984-0.22%752,517.88
199850.12%753,394.24
199864.47%787,053.38
19987-6.97%732,187.83
19988-4.90%696,321.98
199891.29%705,310.50
19981010.97%782,713.98
1998114.10%814,837.38
1998125.05%855,967.83
19991-0.07%855,396.81
199922.92%880,404.42
199934.25%917,821.80
19994-0.10%916,914.70
19995-0.61%911,305.32
199964.52%952,518.07
19997-3.77%916,566.37
19998-0.60%911,085.15
19999-1.27%899,491.85
1999107.11%963,409.29
1999112.81%990,468.86
199912-0.12%989,290.87
20001-2.48%964,775.48
200023.94%1,002,796.84
200031.42%1,017,083.33
20004-2.84%988,210.43
200053.16%1,019,472.27
200060.85%1,028,141.28
200070.94%1,037,802.84
20008-1.08%1,026,598.19
20009-5.21%973,069.01
200010-0.77%965,551.42
200011-3.32%933,494.40
2000120.46%937,741.88
20011-2.14%917,709.29
20012-9.08%834,382.18
200130.45%838,126.00
200146.88%895,783.48
20015-2.39%874,386.32
20016-2.66%851,125.66
20017-2.05%833,713.00
20018-11.25%739,942.59
200193.18%763,502.59
2001105.05%802,083.50
2001111.47%813,842.44
200112-0.30%811,419.72
20021-3.35%784,214.68
200224.95%822,996.22
20023-3.51%794,072.58
20024-2.82%771,676.78
20025-5.92%725,986.12
20026-10.76%647,880.91
200271.14%655,258.92
20028-4.76%624,083.47
20029-1.37%615,551.98
2002106.63%656,335.85
200211-1.04%649,542.37
200212-0.22%648,097.02
20031-6.41%606,522.66
200321.31%614,455.36
200335.29%646,934.61
200345.31%681,301.14
200355.70%720,163.82
200360.60%724,455.28
20037-0.17%723,250.34
200383.16%746,113.59
200392.03%761,243.50
2003101.21%770,459.00
2003113.06%794,064.41
2003124.93%833,251.18
200411.09%842,305.80
20042-1.57%829,122.06
200430.97%837,149.10
20044-2.56%815,682.47
200452.86%838,992.04
20046-2.24%820,208.86
20047-1.39%808,827.89
200482.78%831,334.53
200490.10%832,187.44
2004104.77%871,915.20
2004112.73%895,696.23
200412-1.35%883,611.31
200511.68%898,466.64
20052-0.26%896,170.26
20053-2.41%874,582.25
200541.34%886,265.54
200552.18%905,592.31
200561.81%921,963.53
200570.31%924,821.78
200580.28%927,408.42
20059-2.62%903,071.19
2005103.96%938,846.73
2005112.14%958,976.84
2005121.47%973,042.82
20061-0.02%972,880.91
200621.49%987,339.26
200630.80%995,221.50
20064-0.79%987,392.74
20065-2.71%960,675.93
200660.72%967,593.19
200672.29%989,768.10
200682.53%1,014,820.84
200693.62%1,051,515.88
2006102.00%1,072,563.48
2006112.15%1,095,604.98
2006120.69%1,103,195.62
200711.60%1,120,803.16
20072-2.47%1,093,075.71
200734.18%1,138,769.11
200743.39%1,177,393.35
200750.34%1,181,454.20
200760.57%1,188,243.07
20077-4.20%1,138,323.69
200783.07%1,173,324.23
200792.99%1,208,425.78
200710-4.81%1,150,345.09
2007111.24%1,164,588.90
200712-6.64%1,087,316.13
20081-1.56%1,070,310.88
20082-2.63%1,042,197.71
200834.24%1,086,426.52
200842.56%1,114,267.34
20085-4.25%1,066,949.06
20086-6.08%1,002,094.86
200872.11%1,023,244.43
20088-4.85%973,642.28
20089-20.19%777,029.00
200810-8.61%710,162.95
200811-0.35%707,668.74
200812-1.10%699,915.82
20091-6.70%653,003.92
20092-5.69%615,864.74
2009312.32%691,750.05
200946.66%737,819.37
200952.87%758,986.38
200961.28%768,683.51
200978.12%831,106.34
200983.65%861,444.58
200992.40%882,146.02
2009102.09%900,621.03
2009112.23%920,667.57
2009121.36%933,160.74
20101-2.90%906,113.32
201025.94%959,963.96
201034.09%999,206.62
20104-5.88%940,429.32
20105-3.54%907,104.60
20106-0.16%905,661.65
201070.86%913,483.04
201083.37%944,277.97
201094.58%987,501.69
2010102.49%1,012,099.52
2010113.71%1,049,686.22
2010123.46%1,086,028.39
201113.15%1,120,247.66
20112-1.11%1,107,785.35
201132.22%1,132,389.07
201140.66%1,139,854.17
20115-3.66%1,098,105.87
201163.10%1,132,166.21
20117-10.40%1,014,413.60
20118-0.79%1,006,407.39
201193.02%1,036,789.89
2011101.77%1,055,111.23
2011111.55%1,071,515.59
2011124.78%1,122,761.44
201214.16%1,169,497.61
201222.88%1,203,224.01
20123-0.04%1,202,764.26
20124-3.09%1,165,587.39
20125-1.15%1,152,155.03
201262.92%1,185,810.48
201273.39%1,225,982.19
201283.02%1,263,021.15
20129-0.22%1,260,278.69
201210-2.84%1,224,518.36
2012112.18%1,251,158.19
2012124.27%1,304,567.14
201312.33%1,335,002.98
201322.72%1,371,347.82
201331.45%1,391,284.36
201344.57%1,454,925.46
20135-1.12%1,438,662.67
201363.25%1,485,483.61
201370.25%1,489,234.88
201381.19%1,506,993.52
201392.12%1,538,904.86
2013103.86%1,598,306.50
2013111.52%1,622,627.31
2013120.97%1,638,331.22
20141-0.13%1,636,200.81
201422.72%1,680,742.60
201430.20%1,684,133.06
201441.53%1,709,934.56
201453.20%1,764,589.51
201461.50%1,790,984.62
20147-0.43%1,783,338.00
201481.78%1,815,046.35
20149-2.65%1,767,009.63
2014105.71%1,867,829.06
2014110.63%1,879,669.00
201412-1.11%1,858,803.81
201512.83%1,911,359.60
201520.06%1,912,417.79
201530.88%1,929,216.65
201540.98%1,948,101.83
20155-0.44%1,939,617.85
20156-0.08%1,938,073.33
20157-2.42%1,891,086.73
20158-4.51%1,805,853.64
201594.32%1,883,814.50
2015102.93%1,939,056.79
201511-1.10%1,917,669.58
201512-6.42%1,794,562.45
20161-0.55%1,784,693.98
201626.36%1,898,249.20
201632.83%1,951,993.57
20164-0.30%1,946,052.38
201651.07%1,966,806.84
201663.30%2,031,661.10
201671.20%2,056,025.94
20168-0.44%2,047,006.74
20169-0.51%2,036,649.28
2016101.20%2,061,112.70
2016113.95%2,142,443.47
2016121.44%2,173,243.98
201712.58%2,229,236.42
201721.75%2,268,231.49
20173-0.15%2,264,738.32
201741.69%2,303,066.15
201751.78%2,343,978.46
201760.99%2,367,134.25
201770.25%2,373,000.13
201781.65%2,412,232.07
201792.73%2,478,201.77
2017101.59%2,517,594.50
2017112.88%2,590,188.99
2017124.86%2,716,121.34
20181-2.89%2,637,715.44
201820.06%2,639,418.83
20183-1.66%2,595,499.64
201841.96%2,646,413.51
201852.11%2,702,331.42
201861.58%2,745,048.31
201872.45%2,812,324.09
201881.68%2,859,564.04
20189-3.85%2,749,499.82
201810-2.08%2,692,417.22
201811-5.56%2,542,651.19
2018121.74%2,586,782.37
201915.83%2,737,563.39
201921.95%2,790,891.73
201933.72%2,894,802.75
20194-1.53%2,850,460.50
201951.40%2,890,502.32
201963.83%3,001,131.78
20197-3.13%2,907,063.88
201983.09%2,996,753.42
201990.01%2,997,047.18
2019104.43%3,129,927.03
2019112.47%3,207,214.94
2019123.35%3,314,541.10
202010.12%3,318,587.38
20202-18.92%2,690,786.68
202034.32%2,806,991.38
202045.89%2,972,249.22
202056.51%3,165,691.28
202063.48%3,275,744.48
202075.89%3,468,800.64
20208-0.63%3,447,051.16
202091.73%3,506,547.32
2020103.95%3,645,200.28
2020114.26%3,800,488.75
2020122.80%3,906,723.80
202112.49%4,004,060.94
202120.82%4,036,948.60
202136.02%4,280,032.90
202140.76%4,312,571.06
202151.81%4,390,646.83
202163.07%4,525,360.72
202172.19%4,624,247.18
20218-0.08%4,620,339.74
202190.45%4,641,231.81
2021104.74%4,861,446.38
2021110.27%4,874,348.84
202112-2.05%4,774,329.50
20221-2.90%4,635,751.25
20222-0.89%4,594,373.29
202230.12%4,599,808.52
20224-7.87%4,237,678.00
20225-3.37%4,094,894.32
20226-1.60%4,029,545.61
Click to show 1350 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 1909. This would result in a final amount of $3,667,712.57, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $4,029,545.61).

YearMonthContribution ($)Amount ($)
190914.164.04
190924.168.33
190934.1613.08
190944.1617.86
190954.1622.47
190964.1627.10
190974.1632.11
190984.1636.41
190994.1640.86
1909104.1644.95
1909114.1649.85
1909124.1653.03
191014.1655.34
191024.1661.18
191034.1664.00
191044.1667.28
191054.1668.27
191064.1669.05
191074.1675.30
191084.1680.32
191094.1688.72
1910104.1693.14
1910114.1694.98
1910124.32102.12
19111-104.32
19112-103.53
19113-103.52
19114-106.19
19115-108.76
19116-108.75
19117-104.00
19118-98.77
19119-99.79
191110-104.24
191111-105.15
191112-105.72
19121-105.24
19122-108.73
19123-112.58
19124-112.93
19125-113.39
19126-113.98
19127-117.06
19128-118.13
19129-118.37
191210-117.53
191211-113.78
191212-113.30
19131-109.76
19132-108.17
19133-108.54
19134-106.07
19135-101.23
19136-103.10
19137-106.36
19138-107.87
19139-104.96
191310-102.80
191311-103.19
191312-107.94
19141-109.86
19142-108.30
19143-106.20
19144-107.35
19145-107.33
19146-101.88
19147-102.37
19148-102.86
19149-103.35
191410-103.83
191411-99.85
191412-102.09
19151-101.20
19152-104.29
19153-112.63
19154-110.49
19155-112.23
19156-112.31
19157-117.57
19158-122.44
19159-129.72
191510-134.77
191511-135.57
191512-133.94
19161-132.60
19162-132.71
19163-131.82
19164-135.30
19165-137.20
19166-135.90
19167-137.55
19168-143.81
19169-148.92
191610-153.02
191611-147.56
191612-144.80
19171-137.35
19172-142.34
19173-140.96
19174-136.97
19175-140.54
19176-137.46
19177-134.23
19178-128.62
19179-122.52
191710-113.20
191711-110.25
191712-117.83
19181-122.35
19182-120.80
19183-120.55
19184-125.30
19185-126.37
19186-128.28
19187-130.36
19188-130.54
19189-136.95
191810-141.29
191811-139.33
191812-139.29
19191-140.66
19192-145.78
19193-151.46
19194-162.77
19195-167.97
19196-174.27
19197-163.38
19198-166.79
19199-176.14
191910-171.76
191911-167.55
191912-166.69
19201-153.74
19202-165.39
19203-164.89
19204-155.37
19205-153.51
19206-154.16
19207-148.96
19208-155.09
19209-156.14
192010-149.06
192011-136.56
192012-143.42
19211-143.27
19212-140.46
19213-141.92
19214-147.08
19215-136.15
19216-136.57
19217-135.73
19218-139.94
19219-142.68
192110-151.17
192111-157.35
192112-157.96
19221-162.26
19222-169.20
19223-180.34
19224-188.24
19225-187.36
19226-189.59
19227-197.62
19228-203.69
19229-209.12
192210-199.67
192211-200.18
192212-203.88
19231-213.56
19232-218.00
19233-211.36
19234-202.38
19235-195.68
19236-190.13
19237-192.10
19238-194.32
19239-192.50
192310-199.31
192311-207.11
192312-214.97
19241-217.02
19242-213.95
19243-210.13
19244-210.49
19245-215.58
19246-226.70
19247-235.61
19248-234.48
19249-232.59
192410-246.75
192411-261.23
192412-273.20
19251-276.72
19252-270.67
19253-269.02
19254-278.89
19255-285.14
19256-294.32
19257-299.58
19258-307.80
19259-319.27
192510-330.53
192511-337.26
192512-343.76
19261-345.67
19262-323.61
19263-315.99
19264-319.64
19265-336.31
19266-351.97
19267-367.43
19268-374.57
19269-367.70
192610-374.09
192611-384.21
192612-383.28
19271-392.38
19272-400.10
19273-411.61
19274-427.54
19275-434.81
19276-446.23
19277-471.78
19278-500.38
19279-494.55
192710-507.68
192711-521.48
192712-525.49
19281-521.13
19282-551.08
19283-587.79
19284-607.98
19285-580.23
19286-586.56
19287-607.62
19288-652.43
19289-667.81
192810-715.10
192811-720.07
192812-775.47
19291-781.76
19292-797.79
19293-795.38
19294-809.67
19295-827.50
19296-903.63
19297-957.47
19298-998.10
19299-895.05
192910-660.63
192911-689.52
192912-702.11
19301-748.71
19302-779.57
19303-831.71
19304-784.71
19305-708.04
19306-695.58
19307-689.35
19308-691.72
19309-599.23
193010-558.48
193011-523.92
193012-542.56
19311-586.72
19312-600.68
19313-546.14
19314-496.12
19315-482.83
19316-501.45
19317-488.99
19318-418.73
19319-365.34
193110-372.84
193111-305.36
193112-302.77
19321-302.63
19322-306.08
19323-234.99
19324-208.41
19325-182.58
19326-193.87
19327-293.43
19328-323.85
19329-281.05
193210-280.10
193211-272.71
193212-285.17
19331-253.05
19332-253.89
19333-282.43
19334-365.24
19335-429.45
19336-465.79
19337-444.17
19338-442.02
19339-400.57
193310-411.79
193311-421.36
193312-446.99
19341-481.63
19342-458.52
19343-467.78
19344-421.81
19345-428.99
19346-410.31
19347-395.89
19348-387.94
19349-392.62
193410-405.23
193411-409.52
193412-411.18
19351-400.41
19352-376.67
19353-406.57
19354-440.17
19355-458.54
19356-484.22
19357-518.62
19358-531.24
19359-547.10
193510-600.23
193511-601.99
193512-637.04
19361-675.47
19362-691.76
19363-694.63
19364-659.76
19365-689.93
19366-732.95
19367-749.79
19368-760.61
19369-802.83
193610-827.73
193611-816.14
193612-844.37
19371-872.25
19372-874.26
19373-825.08
19374-791.37
19375-764.95
19376-813.86
19377-825.55
19378-711.93
19379-611.57
193710-561.02
193711-555.30
193712-573.27
19381-562.94
19382-529.06
19383-510.84
19384-518.79
19385-534.01
19386-643.41
19387-650.21
19388-623.66
19389-696.11
193810-699.35
193811-681.51
193812-673.59
19391-670.51
19392-672.30
19393-590.00
19394-614.17
19395-627.51
19396-645.30
19397-638.41
19398-709.00
19399-718.80
193910-708.68
193911-694.70
193912-693.67
19401-692.09
19402-691.08
19403-700.89
19404-607.38
19405-558.22
19406-579.82
19407-595.18
19408-623.50
19409-632.64
194010-650.67
194011-627.32
194012-631.83
19411-595.67
19412-602.68
19413-587.33
19414-578.01
19415-601.74
19416-636.11
19417-636.60
19418-642.09
19419-620.04
194110-594.72
194111-559.74
194112-574.38
19421-560.14
19422-533.47
19423-515.04
19424-524.68
19425-554.84
19426-579.15
19427-579.41
19428-589.04
19429-635.98
194210-649.68
194211-656.54
194212-699.24
19431-744.23
19432-774.11
19433-803.42
19434-838.48
19435-856.75
19436-877.93
19437-838.09
19438-859.48
19439-855.18
194310-819.21
194311-833.71
194312-864.27
19441-862.17
19442-890.10
19443-878.45
19444-897.81
19445-943.98
19446-972.47
19447-962.21
19448-950.42
19449-977.83
194410-975.05
194411-1,000.40
194412-1,034.26
19451-1,072.87
19452-1,076.25
19453-1,107.47
19454-1,153.55
19455-1,178.79
19456-1,158.80
19457-1,166.99
19458-1,250.77
19459-1,307.23
194510-1,354.37
194511-1,381.79
194512-1,441.19
19461-1,449.64
19462-1,410.82
19463-1,506.32
19464-1,514.12
19465-1,509.00
19466-1,470.55
19467-1,446.68
19468-1,238.03
19469-1,214.85
194610-1,214.69
194611-1,255.92
194612-1,267.48
19471-1,321.59
19472-1,273.06
19473-1,231.07
19474-1,214.30
19475-1,261.91
19476-1,346.38
19477-1,325.39
19478-1,296.67
19479-1,335.92
194710-1,326.16
194711-1,311.28
194712-1,299.94
19481-1,242.11
19482-1,265.94
19483-1,369.59
19484-1,442.59
19485-1,508.77
19486-1,479.24
19487-1,442.43
19488-1,432.65
19489-1,478.33
194810-1,402.92
194811-1,400.71
194812-1,423.53
19491-1,376.16
19492-1,396.69
19493-1,402.46
19494-1,399.90
19495-1,331.12
19496-1,414.50
19497-1,473.49
19498-1,501.06
19499-1,548.22
194910-1,578.37
194911-1,629.54
194912-1,672.39
19501-1,714.58
19502-1,738.16
19503-1,797.02
19504-1,867.36
19505-1,907.78
19506-1,779.51
19507-1,897.63
19508-1,975.59
19509-2,068.87
195010-2,076.65
195011-2,080.69
195012-2,247.41
19511-2,344.25
19512-2,318.17
19513-2,362.83
19514-2,377.68
19515-2,350.45
19516-2,406.08
19517-2,525.55
19518-2,604.74
19519-2,605.48
195110-2,546.77
195111-2,638.79
195112-2,739.96
19521-2,703.46
19522-2,723.73
19523-2,729.26
19524-2,741.81
19525-2,830.77
19526-2,926.08
19527-2,951.84
19528-2,919.12
19529-2,872.10
195210-2,977.43
195211-3,111.68
195212-3,142.45
19531-3,118.15
19532-3,147.99
19533-3,007.18
19534-3,037.34
19535-2,942.95
19536-2,999.27
19537-3,026.23
19538-2,901.94
19539-3,003.99
195310-3,085.35
195311-3,142.02
195312-3,237.03
19541-3,323.66
19542-3,409.50
19543-3,561.23
19544-3,718.73
19545-3,764.21
19546-3,932.00
19547-4,026.14
19548-4,136.45
19549-4,248.57
195410-4,431.35
195411-4,650.85
195412-4,751.71
19551-4,927.75
19552-4,906.24
19553-5,093.08
19554-5,089.07
19555-5,401.80
19556-5,814.72
19557-5,797.32
19558-6,076.54
19559-5,789.43
195510-6,198.52
195511-6,275.21
195512-6,125.37
19561-6,183.53
19562-6,629.12
19563-6,727.41
19564-6,536.46
19565-6,519.33
19566-6,894.12
19567-6,874.49
19568-6,662.15
19569-6,598.61
195610-6,551.60
195611-6,670.12
195612-6,545.88
19571-6,284.32
19572-6,386.16
19573-6,555.01
19574-6,827.71
19575-6,961.14
19576-7,122.78
19577-6,752.04
19578-6,499.55
19579-6,116.29
195710-6,006.17
195711-6,025.28
195712-6,165.59
19581-6,208.86
19582-6,359.05
19583-6,416.06
19584-6,644.33
19585-6,826.06
19586-7,035.68
19587-7,320.92
19588-7,536.43
19589-7,864.95
195810-8,126.55
195811-8,302.29
195812-8,655.52
19591-8,546.03
19592-8,785.84
19593-8,955.98
19594-9,114.09
19595-9,058.83
19596-9,441.80
19597-9,411.73
19598-9,063.19
19599-9,079.21
195910-9,139.96
195911-9,456.48
195912-9,315.98
19601-8,979.75
19602-8,882.93
19603-9,023.66
19604-8,967.30
19605-9,324.93
19606-9,120.14
19607-9,256.11
19608-9,004.27
19609-8,853.55
196010-9,167.04
196011-9,413.69
196012-9,924.56
19611-10,358.68
19612-10,710.57
19613-11,023.21
19614-11,162.47
19615-11,041.89
19616-11,038.81
19617-11,462.58
19618-11,400.49
19619-11,553.60
196110-12,104.95
196111-12,245.73
196112-11,818.71
19621-12,044.38
19622-12,085.45
19623-11,729.54
19624-10,886.77
19625-9,644.29
19626-9,906.36
19627-10,205.83
19628-10,145.28
19629-9,855.49
196210-10,565.17
196211-11,053.68
196212-11,512.05
19631-11,695.73
19632-11,683.06
19633-12,264.66
19634-12,543.02
19635-12,570.19
19636-12,416.60
19637-12,792.96
19638-13,163.14
19639-13,228.94
196310-13,188.39
196311-13,504.03
196312-13,953.74
19641-14,160.24
19642-14,453.51
19643-14,698.22
19644-14,877.59
19645-14,825.42
19646-15,412.66
19647-15,223.75
19648-15,522.97
19649-15,828.80
196410-15,977.11
196411-15,739.00
196412-16,182.96
19651-16,340.75
19652-16,395.59
19653-16,650.97
19654-16,939.47
19655-16,175.95
19656-16,192.59
19657-16,535.64
19658-17,130.28
19659-17,558.00
196510-17,746.92
196511-17,709.36
196512-18,060.09
19661-17,982.35
19662-17,287.82
19663-17,861.94
19664-16,967.49
19665-16,872.55
19666-16,875.65
19667-15,902.02
19668-15,389.20
19669-15,302.35
196610-16,115.83
196611-16,231.18
196612-16,901.58
19671-17,532.01
19672-17,993.76
19673-18,352.28
19674-18,729.91
19675-18,544.14
19676-18,913.62
19677-19,263.83
19678-19,582.44
19679-19,601.52
196710-19,036.65
196711-19,629.02
196712-19,625.59
19681-18,790.13
19682-18,497.15
19683-19,914.35
19684-20,423.70
19685-21,024.30
19686-21,034.58
19687-20,627.79
19688-21,351.35
19689-21,931.50
196810-22,323.15
196811-22,610.07
196812-21,709.03
19691-21,657.24
19692-21,242.76
19693-21,725.88
19694-22,489.21
19695-21,371.20
19696-20,472.47
19697-20,414.41
19698-20,542.72
19699-20,819.31
196910-21,026.98
196911-19,969.85
196912-19,852.22
19701-19,217.72
19702-19,604.44
19703-19,065.77
19704-16,930.59
19705-16,884.89
19706-16,973.13
19707-17,525.73
19708-18,633.59
19709-19,097.47
197010-19,136.96
197011-20,506.85
197012-21,349.82
19711-22,236.06
19712-22,865.75
19713-23,705.81
19714-23,443.18
19715-23,069.06
19716-22,962.26
19717-22,613.90
19718-23,176.17
19719-22,744.24
197110-21,749.97
197111-23,308.05
197112-24,338.86
19721-24,846.80
19722-25,497.69
19723-25,818.68
19724-25,618.36
19725-25,750.57
19726-25,620.82
19727-26,590.24
19728-26,268.37
19729-26,378.02
197210-27,763.98
197211-28,405.75
197212-28,686.78
19731-27,732.91
19732-27,359.81
19733-26,912.94
19734-26,221.34
19735-25,699.59
19736-26,010.62
19737-25,585.24
19738-26,095.73
19739-27,200.97
197310-25,336.93
197311-23,612.68
197312-24,014.19
19741-23,420.36
19742-24,491.75
19743-23,312.07
19744-22,681.33
19745-22,785.03
19746-20,199.65
19747-19,439.18
19748-17,492.62
19749-17,908.41
197410-18,578.80
197411-17,447.01
197412-18,953.17
19751-21,001.54
19752-22,046.08
19753-22,373.91
19754-23,875.79
19755-24,566.91
19756-24,673.04
19757-22,946.85
19758-22,751.18
19759-23,882.21
197510-24,369.81
197511-24,082.33
197512-26,381.06
19761-27,483.30
19762-27,703.83
19763-28,007.31
19764-27,899.96
19765-28,151.22
19766-28,901.55
19767-28,739.53
19768-29,440.16
19769-28,525.10
197610-28,420.51
197611-29,496.66
197612-29,338.19
19771-28,643.28
19772-28,627.76
19773-28,286.04
19774-28,304.29
19775-28,558.96
19776-28,925.21
19777-28,323.97
19778-27,991.06
19779-27,375.86
197710-27,644.46
197711-27,622.30
197712-26,685.81
19781-26,426.42
19782-26,496.63
19783-27,776.41
19784-29,305.32
19785-29,502.71
19786-29,484.33
19787-31,644.98
19788-31,771.46
19789-30,890.28
197810-29,210.58
197811-29,772.25
197812-31,018.31
19791-30,690.46
19792-31,408.97
19793-32,172.49
19794-31,563.46
19795-32,326.55
19796-32,785.86
19797-34,429.85
19798-34,960.23
19799-33,788.18
197910-33,679.23
197911-35,162.47
197912-36,327.21
19801-37,924.10
19802-34,595.19
19803-34,193.17
19804-35,915.19
19805-38,379.94
19806-40,287.21
19807-41,699.15
19808-42,881.66
19809-44,307.37
198010-46,352.02
198011-45,775.04
198012-45,779.62
19811-44,374.10
19812-46,212.65
19813-46,810.55
19814-46,053.50
19815-46,448.45
19816-45,511.93
19817-45,877.19
19818-42,068.15
19819-42,794.78
198110-44,097.33
198111-44,617.40
198112-42,473.93
19821-41,661.02
19822-40,517.62
19823-42,733.65
19824-42,977.09
19825-40,711.93
19826-40,811.20
19827-41,135.23
19828-46,111.11
19829-50,206.42
198210-52,465.66
198211-53,176.84
198212-55,264.43
19831-56,441.57
19832-58,623.38
19833-61,084.03
19834-63,786.40
19835-64,904.89
19836-65,364.51
19837-63,791.06
19838-65,904.99
19839-66,332.01
198310-65,574.88
198311-65,490.86
198312-66,522.95
19841-63,122.18
19842-63,401.41
19843-63,722.98
19844-63,562.03
19845-62,387.21
19846-61,820.46
19847-67,511.99
19848-68,461.87
19849-68,179.53
198410-69,056.25
198411-68,567.64
198412-71,788.65
19851-75,943.32
19852-75,580.07
19853-76,354.54
19854-78,443.33
19855-80,413.01
19856-82,220.07
19857-80,702.85
19858-79,181.61
19859-80,365.82
198510-85,525.72
198511-90,053.89
198512-90,730.85
19861-95,900.02
19862-101,829.29
19863-104,620.87
19864-105,135.43
19865-108,429.57
19866-106,473.60
19867-108,902.10
19868-106,227.21
19869-106,131.74
198610-109,881.32
198611-111,759.13
198612-119,217.23
19871-126,920.90
19872-132,475.48
19873-131,340.94
19874-131,567.94
19875-137,486.45
19876-141,778.91
19877-150,929.34
19878-146,355.54
19879-129,006.72
198710-113,134.49
198711-111,624.49
198712-116,364.67
19881-120,237.94
19882-124,124.10
19883-123,024.34
19884-120,332.23
19885-127,550.00
19886-127,158.52
19887-124,973.32
19888-127,381.77
19889-132,224.34
198810-129,553.08
198811-132,566.42
198812-137,223.03
19891-141,751.19
19892-141,522.03
19893-146,567.01
19894-152,598.68
19895-157,775.78
19896-162,193.78
19897-169,801.89
19898-170,575.40
19899-171,063.68
198910-167,961.35
198911-172,557.96
198912-168,742.32
19901-164,477.89
19902-168,930.58
19903-169,261.66
19904-175,779.80
19905-181,351.94
19906-181,659.74
19907-167,379.06
19908-160,113.03
19909-156,405.18
199010-161,072.02
199011-168,459.76
199012-167,305.52
19911-186,724.30
19912-192,409.34
19913-196,755.54
19914-196,403.59
19915-197,085.13
19916-198,623.35
19917-203,944.34
19918-203,326.18
19919-203,695.51
199110-203,727.69
199111-205,632.83
199112-220,763.34
19921-219,436.90
19922-217,215.37
19923-217,789.47
19924-222,294.12
19925-219,339.56
19926-223,533.63
19927-225,638.69
19928-226,492.02
19929-223,814.76
199210-229,985.12
199211-237,508.39
199212-237,847.77
19931-241,948.86
19932-247,151.13
19933-243,834.99
19934-245,602.12
19935-247,727.03
19936-247,878.15
19937-252,246.92
19938-255,664.79
19939-258,839.91
199310-258,859.44
199311-261,155.99
199312-265,689.34
19941-265,488.21
19942-261,708.15
19943-252,950.40
19944-255,627.23
19945-258,459.82
19946-257,118.73
19947-265,043.33
19948-267,209.97
19949-266,023.54
199410-265,039.56
199411-262,321.03
199412-268,750.98
19951-279,014.83
19952-286,152.51
19953-295,353.89
19954-305,241.63
19955-314,943.50
19956-326,116.06
19957-327,789.44
19958-339,975.55
19959-343,078.05
199510-351,169.16
199511-363,070.76
199512-363,661.04
19961-385,133.02
19962-384,360.07
19963-385,117.42
19964-394,186.27
19965-399,226.30
19966-385,346.94
19967-397,199.26
19968-405,237.49
19969-421,931.24
199610-443,247.55
199611-448,558.67
199612-463,170.65
19971-483,370.28
19972-480,355.57
19973-463,998.27
19974-506,768.85
19975-533,814.22
19976-564,433.40
19977-566,396.44
19978-573,147.93
19979-582,578.37
199710-575,866.81
199711-591,038.69
199712-592,439.98
19981-630,368.92
19982-663,859.62
19983-686,468.52
19984-684,945.54
19985-685,743.21
19986-716,379.93
19987-666,441.03
19988-633,795.75
19989-641,977.14
199810-712,430.18
199811-741,669.06
199812-779,106.20
19991-778,586.46
19992-801,348.51
19993-835,406.00
19994-834,580.35
19995-829,474.66
19996-866,986.72
19997-834,263.30
19998-829,274.26
19999-818,721.99
199910-876,899.96
199911-901,529.72
199912-900,457.50
20001-878,143.47
20002-912,750.70
20003-925,754.34
20004-899,474.08
20005-927,928.77
20006-935,819.34
20007-944,613.34
20008-934,414.81
20009-885,692.28
200010-878,849.74
200011-849,671.28
200012-853,537.35
20011-835,303.59
20012-759,458.83
20013-762,866.48
20014-815,346.60
20015-795,870.81
20016-774,698.83
20017-758,849.74
20018-673,499.45
20019-694,943.88
200110-730,060.41
200111-740,763.46
200112-738,558.28
20021-713,796.13
20022-749,095.28
20023-722,768.83
20024-702,384.07
20025-660,796.20
20026-589,704.45
20027-596,419.95
20028-568,043.89
20029-560,278.49
200210-597,400.17
200211-591,216.72
200212-589,901.15
20031-552,059.96
20032-559,280.35
20033-588,843.12
20034-620,123.71
20035-655,496.71
20036-659,402.82
20037-658,306.08
20038-679,116.32
20039-692,887.64
200310-701,275.64
200311-722,761.40
200312-758,429.39
20041-766,670.96
20042-754,671.05
20043-761,977.30
20044-742,438.27
20045-763,654.76
20046-746,558.21
20047-736,199.19
20048-756,684.85
20049-757,461.17
200410-793,621.58
200411-815,267.19
200412-804,267.43
20051-817,788.83
20052-815,698.66
20053-796,049.14
20054-806,683.33
20055-824,274.65
20056-839,175.82
20057-841,777.41
20058-844,131.78
20059-821,979.91
200510-854,542.99
200511-872,865.52
200512-885,668.45
20061-885,521.07
20062-898,681.14
20063-905,855.59
20064-898,729.81
20065-874,412.04
20066-880,708.16
20067-900,891.87
20068-923,695.01
20069-957,095.02
200610-976,252.64
200611-997,225.14
200612-1,004,134.18
20071-1,020,160.64
20072-994,922.98
20073-1,036,513.34
20074-1,071,669.32
20075-1,075,365.52
20076-1,081,544.78
20077-1,036,107.92
20078-1,067,965.58
20079-1,099,915.19
200710-1,047,049.86
200711-1,060,014.65
200712-989,680.58
20081-974,202.32
20082-948,613.57
20083-988,870.86
20084-1,014,211.70
20085-971,142.37
20086-912,111.76
20087-931,362.20
20088-886,214.08
20089-707,255.68
200810-646,393.87
200811-644,123.62
200812-637,066.88
20091-594,367.44
20092-560,563.17
20093-629,634.36
20094-671,566.88
20095-690,833.20
20096-699,659.58
20097-756,477.15
20098-784,091.16
20099-802,933.72
200910-819,749.77
200911-837,996.23
200912-849,367.57
20101-824,748.88
20102-873,764.00
20103-909,482.86
20104-855,983.47
20105-825,651.15
20106-824,337.76
20107-831,456.84
20108-859,486.53
20109-898,828.98
201010-921,218.04
201011-955,429.65
201012-988,508.47
20111-1,019,655.03
20112-1,008,311.76
20113-1,030,706.20
20114-1,037,500.97
20115-999,501.46
20116-1,030,503.35
20117-923,324.34
20118-916,037.05
20119-943,691.34
201110-960,367.52
201111-975,298.85
201112-1,021,943.08
20121-1,064,482.57
20122-1,095,180.52
20123-1,094,762.05
20124-1,060,923.47
20125-1,048,697.27
20126-1,079,330.63
20127-1,115,895.12
20128-1,149,608.17
20129-1,147,111.97
201210-1,114,562.74
201211-1,138,810.44
201212-1,187,423.54
20131-1,215,126.39
20132-1,248,207.65
20133-1,266,353.99
20134-1,324,280.43
20135-1,309,477.96
20136-1,352,094.62
20137-1,355,509.04
20138-1,371,673.04
20139-1,400,718.90
201310-1,454,786.57
201311-1,476,923.50
201312-1,491,217.28
20141-1,489,278.16
20142-1,529,820.32
20143-1,532,906.34
20144-1,556,391.00
20145-1,606,138.20
20146-1,630,163.17
20147-1,623,203.17
20148-1,652,064.27
20149-1,608,341.01
201410-1,700,107.35
201411-1,710,884.12
201412-1,691,892.53
20151-1,739,729.07
20152-1,740,692.24
20153-1,755,982.65
20154-1,773,172.03
20155-1,765,449.87
20156-1,764,044.04
20157-1,721,276.60
20158-1,643,697.02
20159-1,714,657.38
201510-1,764,939.19
201511-1,745,472.45
201512-1,633,419.72
20161-1,624,437.39
20162-1,727,795.92
20163-1,776,714.32
20164-1,771,306.62
20165-1,790,197.43
20166-1,849,228.10
20167-1,871,405.09
20168-1,863,195.78
20169-1,853,768.36
201610-1,876,035.10
201611-1,950,062.76
201612-1,978,097.54
20171-2,029,062.14
20172-2,064,555.65
20173-2,061,376.15
20174-2,096,262.33
20175-2,133,500.92
20176-2,154,577.44
20177-2,159,916.60
20178-2,195,625.70
20179-2,255,671.65
201710-2,291,527.11
201711-2,357,602.98
201712-2,472,227.24
20181-2,400,861.79
20182-2,402,412.22
20183-2,362,436.76
20184-2,408,778.82
20185-2,459,675.58
20186-2,498,556.71
20187-2,559,791.46
20188-2,602,789.50
20189-2,502,608.49
201810-2,450,651.63
201811-2,314,333.83
201812-2,354,502.25
20191-2,491,743.89
20192-2,540,283.61
20193-2,634,863.95
20194-2,594,503.41
20195-2,630,949.67
20196-2,731,645.16
20197-2,646,024.09
20198-2,727,659.95
20199-2,727,927.34
201910-2,848,875.24
201911-2,919,223.08
201912-3,016,911.89
20201-3,020,594.84
20202-2,449,167.50
20203-2,554,937.60
20204-2,705,356.11
20205-2,881,428.04
20206-2,981,599.01
20207-3,157,319.70
20208-3,137,523.22
20209-3,191,676.91
202010-3,317,879.54
202011-3,459,223.88
202012-3,555,919.55
20211-3,644,516.30
20212-3,674,450.82
20213-3,895,707.36
20214-3,925,323.76
20215-3,996,388.71
20216-4,119,005.97
20217-4,209,012.92
20218-4,205,456.35
20219-4,224,472.42
202110-4,424,912.82
202111-4,436,656.70
202112-4,345,618.60
20221-4,219,483.98
20222-4,181,821.56
20223-4,186,768.73
20224-3,857,155.72
20225-3,727,193.30
20226-3,667,712.57
Click to show 1350 more rows

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.

Email · LinkedIn · Twitter


S&P 500 from 1909 to 2022
Start Value
Average monthly close
$9.06
End Value
Average monthly close
$3,831.39
Change in price+42,189.07%
+5.50% / yr
Change incl. dividends+4,029,445.61%
+9.79% / yr
Change incl. dividends, inflation-adjusted+123,709.78%
+6.48% / yr
Final amount, nominal
($100 base)
$4,029,545.61
Final amount, inflation-adjusted
($100 base)
$123,809.78