S&P 500: $100 in 1910 → $3,428,299.88 in 2022

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Stock market returns since 1910

If you invested $100 in the S&P 500 at the beginning of 1910, you would have about $3,428,299.88 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 3,428,199.88%, or 9.70% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 109,187.04% cumulatively, or 6.40% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $3,538,179.99.

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 $3,428,199.88, or 3,428,199.88%. This means by 2022 you would have $3,428,299.88 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 1910 was 9.500 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 112 years.

Adjusted for inflation, the $3,428,299.88 nominal end value of the original $100 investment would have a real return of roughly $109,187.04 in 1910 dollars. This means the inflation-adjusted return is 109,187.04% as opposed to the original 3,428,199.88%.

For more information on inflation, see our U.S. inflation calculator for 1910.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1354-month period between 1910 and 2022.

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

YearMonthReturn (%)Amount ($)
19101-3.21%96.79
191022.85%99.55
19103-2.04%97.53
19104-1.26%96.30
19105-4.42%92.04
19106-4.64%87.78
191072.87%90.30
191081.11%91.30
191095.03%95.90
1910100.31%96.19
191011-2.37%93.91
1910122.86%96.60
191112.15%98.67
19112-0.75%97.93
19113-0.01%97.92
191142.58%100.45
191152.42%102.87
19116-0.01%102.87
19117-4.37%98.37
19118-5.03%93.43
191191.03%94.39
1911104.46%98.60
1911110.87%99.46
1911120.54%100.00
19121-0.45%99.55
191223.31%102.85
191233.54%106.49
191240.31%106.82
191250.41%107.26
191260.52%107.81
191272.71%110.73
191280.91%111.74
191290.20%111.97
191210-0.71%111.17
191211-3.19%107.63
191212-0.43%107.17
19131-3.12%103.83
19132-1.45%102.32
191330.34%102.67
19134-2.28%100.33
19135-4.56%95.76
191361.85%97.53
191373.16%100.61
191381.42%102.04
19139-2.70%99.28
191310-2.06%97.24
1913110.37%97.60
1913124.60%102.10
191411.79%103.92
19142-1.42%102.44
19143-1.94%100.45
191441.09%101.55
19145-0.03%101.52
19146-5.07%96.37
191470.48%96.84
191480.48%97.30
191490.47%97.76
1914100.47%98.21
191411-3.84%94.45
1914122.24%96.57
19151-0.87%95.73
191523.05%98.65
191537.99%106.53
19154-1.90%104.51
191551.58%106.16
191560.07%106.23
191574.69%111.21
191584.14%115.81
191595.95%122.71
1915103.89%127.48
1915110.59%128.23
191512-1.20%126.69
19161-1.00%125.42
191620.08%125.53
19163-0.67%124.69
191642.64%127.98
191651.41%129.78
19166-0.95%128.55
191671.22%130.11
191684.55%136.03
191693.55%140.86
1916102.75%144.74
191611-3.57%139.58
191612-1.87%136.96
19171-5.15%129.92
191723.64%134.64
19173-0.97%133.33
19174-2.83%129.56
191752.61%132.94
19176-2.19%130.03
19177-2.36%126.96
19178-4.17%121.66
19179-4.74%115.89
191710-7.61%107.07
191711-2.61%104.28
1917126.88%111.45
191813.84%115.73
19182-1.27%114.26
19183-0.21%114.03
191843.94%118.52
191850.85%119.53
191861.51%121.34
191871.62%123.30
191880.14%123.48
191894.91%129.54
1918103.17%133.64
191811-1.39%131.79
191812-0.03%131.75
191910.98%133.05
191923.64%137.89
191933.90%143.27
191947.47%153.97
191953.19%158.88
191963.75%164.84
19197-6.25%154.54
191982.09%157.77
191995.60%166.61
191910-2.48%162.47
191911-2.45%158.48
191912-0.51%157.67
19201-7.77%145.42
192027.58%156.44
19203-0.30%155.97
19204-5.77%146.97
19205-1.20%145.21
192060.42%145.82
19207-3.37%140.90
192084.12%146.70
192090.67%147.69
192010-4.53%140.99
192011-8.39%129.17
1920125.03%135.66
19211-0.11%135.51
19212-1.96%132.86
192131.04%134.24
192143.63%139.12
19215-7.43%128.78
192160.31%129.18
19217-0.61%128.39
192183.10%132.37
192191.96%134.96
1921105.96%142.99
1921114.09%148.84
1921120.39%149.42
192212.72%153.49
192224.28%160.05
192236.58%170.58
192244.38%178.06
19225-0.47%177.22
192261.19%179.33
192274.24%186.93
192283.07%192.67
192292.67%197.80
192210-4.52%188.87
1922110.25%189.35
1922121.85%192.85
192314.75%202.01
192322.08%206.21
19233-3.04%199.93
19234-4.25%191.43
19235-3.31%185.09
19236-2.84%179.84
192371.04%181.70
192381.16%183.80
19239-0.94%182.09
1923103.54%188.52
1923113.92%195.91
1923123.79%203.34
192410.95%205.28
19242-1.42%202.37
19243-1.79%198.76
192440.17%199.10
192452.42%203.92
192465.16%214.43
192473.93%222.87
19248-0.48%221.80
19249-0.81%220.01
1924106.08%233.40
1924115.87%247.09
1924124.58%258.42
192511.29%261.75
19252-2.19%256.02
19253-0.61%254.47
192543.67%263.80
192552.24%269.71
192563.22%278.40
192571.79%283.37
192582.74%291.15
192593.73%302.00
1925103.53%312.65
1925112.04%319.01
1925121.93%325.16
192610.56%326.97
19262-6.38%306.10
19263-2.35%298.89
192641.15%302.34
192655.22%318.12
192664.66%332.93
192674.39%347.55
192681.94%354.31
19269-1.83%347.80
1926101.74%353.85
1926112.71%363.42
192612-0.24%362.55
192712.37%371.15
192721.97%378.45
192732.88%389.34
192743.87%404.40
192751.70%411.29
192762.62%422.08
192775.73%446.25
192786.06%473.31
19279-1.17%467.79
1927102.66%480.22
1927112.72%493.27
1927120.77%497.06
19281-0.83%492.94
192825.75%521.26
192836.66%555.99
192843.44%575.09
19285-4.57%548.83
192861.09%554.82
192873.59%574.74
192887.37%617.13
192892.36%631.68
1928107.08%676.41
1928110.70%681.12
1928127.69%733.51
192910.81%739.46
192922.05%754.63
19293-0.30%752.35
192941.80%765.87
192952.20%782.73
192969.20%854.74
192975.96%905.66
192984.24%944.10
19299-10.32%846.63
192910-26.19%624.89
1929114.37%652.21
1929121.83%664.13
193016.64%708.20
193024.12%737.40
193036.69%786.71
19304-5.65%742.25
19305-9.77%669.74
19306-1.76%657.95
19307-0.90%652.05
193080.34%654.29
19309-13.37%566.81
193010-6.80%528.27
193011-6.19%495.58
1930123.56%513.21
193118.14%554.97
193122.38%568.18
19313-9.08%516.60
19314-9.16%469.28
19315-2.68%456.70
193163.86%474.32
19317-2.49%462.53
19318-14.37%396.07
19319-12.75%345.57
1931102.05%352.67
193111-18.10%288.84
193112-0.85%286.39
19321-0.05%286.25
193221.14%289.52
19323-23.22%222.28
19324-11.31%197.13
19325-12.39%172.70
193266.18%183.38
1932751.35%277.56
1932810.37%306.33
19329-13.22%265.84
193210-0.34%264.95
193211-2.64%257.96
1932124.57%269.74
19331-11.27%239.35
193320.33%240.15
1933311.24%267.15
1933429.32%345.48
1933517.58%406.22
193368.46%440.59
19337-4.64%420.14
19338-0.48%418.11
19339-9.38%378.90
1933102.80%389.51
1933112.32%398.56
1933126.08%422.81
193417.75%455.57
19342-4.80%433.71
193432.02%442.47
19344-9.83%398.99
193451.70%405.78
19346-4.36%388.11
19347-3.51%374.47
19348-2.01%366.95
193491.21%371.38
1934103.21%383.31
1934111.06%387.37
1934120.40%388.93
19351-2.62%378.75
19352-5.93%356.29
193537.94%384.57
193548.27%416.36
193554.17%433.73
193565.60%458.02
193577.10%490.56
193582.43%502.50
193592.99%517.50
1935109.71%567.76
1935110.29%569.42
1935125.82%602.58
193616.03%638.92
193622.41%654.33
193630.41%657.04
19364-5.02%624.06
193654.57%652.61
193666.23%693.29
193672.30%709.22
193681.44%719.46
193695.55%759.39
1936103.10%782.95
193611-1.40%771.99
1936123.46%798.68
193713.30%825.06
193720.23%826.96
19373-5.62%780.44
19374-4.09%748.56
19375-3.34%723.57
193766.39%769.83
193771.44%780.89
19378-13.76%673.42
19379-14.10%578.48
193710-8.27%530.67
193711-1.02%525.26
1937123.24%542.26
19381-1.80%532.48
19382-6.02%500.43
19383-3.44%483.20
193841.56%490.72
193852.93%505.12
1938620.49%608.60
193871.06%615.03
19388-4.08%589.92
1938911.62%658.45
1938100.47%661.51
193811-2.55%644.64
193812-1.16%637.15
19391-0.46%634.23
193920.27%635.92
19393-12.24%558.08
193944.10%580.94
193952.17%593.56
193962.84%610.39
19397-1.07%603.87
1939811.06%670.64
193991.38%679.91
193910-1.41%670.34
193911-1.97%657.11
193912-0.15%656.14
19401-0.23%654.64
19402-0.15%653.69
194031.42%662.97
19404-13.34%574.52
19405-8.09%528.02
194063.87%548.45
194072.65%562.98
194084.76%589.77
194091.47%598.41
1940102.85%615.47
194011-3.59%593.38
1940120.72%597.65
19411-5.72%563.44
194121.18%570.07
19413-2.55%555.56
19414-1.59%546.73
194154.11%569.18
194165.71%601.70
194170.08%602.15
194180.86%607.35
19419-3.43%586.49
194110-4.08%562.54
194111-5.88%529.45
1941122.62%543.30
19421-2.48%529.84
19422-4.76%504.60
19423-3.45%487.18
194241.87%496.29
194255.75%524.82
194264.38%547.81
194270.05%548.06
194281.66%557.17
194297.97%601.57
1942102.15%614.53
1942111.06%621.02
1942126.50%661.41
194316.43%703.96
194324.01%732.23
194333.79%759.95
194344.36%793.11
194352.18%810.40
194362.47%830.44
19437-4.54%792.74
194382.55%812.98
19439-0.50%808.91
194310-4.21%774.89
1943111.77%788.60
1943123.67%817.51
19441-0.24%815.52
194423.24%841.94
19443-1.31%830.93
194442.20%849.23
194455.14%892.90
194463.02%919.86
19447-1.06%910.15
19448-1.23%899.00
194492.88%924.92
194410-0.28%922.30
1944112.60%946.28
1944123.38%978.30
194513.73%1,014.82
194520.31%1,018.02
194532.90%1,047.55
194544.16%1,091.14
194552.19%1,115.01
19456-1.70%1,096.11
194570.71%1,103.85
194587.18%1,183.10
194594.51%1,236.51
1945103.61%1,281.10
1945112.02%1,307.03
1945124.30%1,363.22
194610.59%1,371.21
19462-2.68%1,334.49
194636.77%1,424.82
194640.52%1,432.20
19465-0.34%1,427.35
19466-2.55%1,390.99
19467-1.62%1,368.41
19468-14.42%1,171.05
19469-1.87%1,149.13
194610-0.01%1,148.97
1946113.39%1,187.97
1946120.92%1,198.90
194714.27%1,250.09
19472-3.67%1,204.18
19473-3.30%1,164.46
19474-1.36%1,148.60
194753.92%1,193.63
194766.69%1,273.53
19477-1.56%1,253.68
19478-2.17%1,226.51
194793.03%1,263.64
194710-0.73%1,254.41
194711-1.12%1,240.33
194712-0.86%1,229.61
19481-4.45%1,174.91
194821.92%1,197.45
194838.19%1,295.49
194845.33%1,364.54
194854.59%1,427.14
19486-1.96%1,399.21
19487-2.49%1,364.39
19488-0.68%1,355.14
194893.19%1,398.35
194810-5.10%1,327.02
194811-0.16%1,324.92
1948121.63%1,346.51
19491-3.33%1,301.71
194921.49%1,321.12
194930.41%1,326.58
19494-0.18%1,324.16
19495-4.91%1,259.11
194966.26%1,337.97
194974.17%1,393.77
194981.87%1,419.85
194993.14%1,464.46
1949101.95%1,492.98
1949113.24%1,541.37
1949122.63%1,581.91
195012.52%1,621.82
195021.38%1,644.12
195033.39%1,699.79
195043.91%1,766.33
195052.16%1,804.56
19506-6.72%1,683.23
195076.64%1,794.96
195084.11%1,868.71
195094.72%1,956.94
1950100.38%1,964.30
1950110.19%1,968.12
1950128.01%2,125.82
195114.31%2,217.41
19512-1.11%2,192.75
195131.93%2,234.99
195140.63%2,249.04
19515-1.15%2,223.28
195162.37%2,275.90
195174.97%2,388.91
195183.14%2,463.82
195190.03%2,464.52
195110-2.25%2,408.98
1951113.61%2,496.02
1951123.83%2,591.71
19521-1.33%2,557.19
195220.75%2,576.36
195230.20%2,581.59
195240.46%2,593.46
195253.24%2,677.62
195263.37%2,767.77
195270.88%2,792.14
19528-1.11%2,761.18
19529-1.61%2,716.71
1952103.67%2,816.34
1952114.51%2,943.33
1952120.99%2,972.43
19531-0.77%2,949.44
195320.96%2,977.67
19533-4.47%2,844.48
195341.00%2,873.01
19535-3.11%2,783.72
195361.91%2,837.00
195370.90%2,862.50
19538-4.11%2,744.94
195393.52%2,841.47
1953102.71%2,918.42
1953111.84%2,972.03
1953123.02%3,061.90
195412.68%3,143.84
195422.58%3,225.03
195434.45%3,368.56
195444.42%3,517.53
195451.22%3,560.56
195464.46%3,719.26
195472.39%3,808.31
195482.74%3,912.65
195492.71%4,018.71
1954104.30%4,191.60
1954114.95%4,399.22
1954122.17%4,494.62
195513.70%4,661.14
19552-0.44%4,640.80
195533.81%4,817.53
19554-0.08%4,813.74
195556.15%5,109.54
195567.64%5,500.12
19557-0.30%5,483.66
195584.82%5,747.78
19559-4.72%5,476.20
1955107.07%5,863.16
1955111.24%5,935.70
195512-2.39%5,793.97
195610.95%5,848.98
195627.21%6,270.46
195631.48%6,363.43
19564-2.84%6,182.81
19565-0.26%6,166.61
195665.75%6,521.12
19567-0.28%6,502.55
19568-3.09%6,301.70
19569-0.95%6,241.61
195610-0.71%6,197.14
1956111.81%6,309.24
195612-1.86%6,191.72
19571-4.00%5,944.32
195721.62%6,040.65
195732.64%6,200.36
195744.16%6,458.31
195751.95%6,584.52
195762.32%6,737.42
19577-5.21%6,386.73
19578-3.74%6,147.90
19579-5.90%5,785.38
195710-1.80%5,681.22
1957110.32%5,699.29
1957122.33%5,832.01
195810.70%5,872.94
195822.42%6,015.00
195830.90%6,068.92
195843.56%6,284.85
195852.74%6,456.75
195863.07%6,655.02
195874.05%6,924.84
195882.94%7,128.69
195894.36%7,439.42
1958103.33%7,686.88
1958112.16%7,853.10
1958124.25%8,187.23
19591-1.27%8,083.66
195922.81%8,310.50
195931.94%8,471.43
195941.77%8,620.98
19595-0.61%8,568.72
195964.23%8,930.97
19597-0.32%8,902.52
19598-3.70%8,572.84
195990.18%8,587.99
1959100.67%8,645.45
1959113.46%8,944.85
195912-1.49%8,811.95
19601-3.61%8,493.91
19602-1.08%8,402.33
196031.58%8,535.45
19604-0.62%8,482.14
196053.99%8,820.42
19606-2.20%8,626.71
196071.49%8,755.32
19608-2.72%8,517.11
19609-1.67%8,374.54
1960103.54%8,671.07
1960112.69%8,904.38
1960125.43%9,387.61
196114.37%9,798.24
196123.40%10,131.09
196132.92%10,426.81
196141.26%10,558.54
19615-1.08%10,444.49
19616-0.03%10,441.57
196173.84%10,842.42
19618-0.54%10,783.68
196191.34%10,928.51
1961104.77%11,450.03
1961111.16%11,583.19
196112-3.49%11,179.27
196211.91%11,392.74
196220.34%11,431.59
19623-2.94%11,094.93
19624-7.19%10,297.76
19625-11.41%9,122.50
196262.72%9,370.39
196273.02%9,653.66
19628-0.59%9,596.38
19629-2.86%9,322.28
1962107.20%9,993.56
1962114.62%10,455.64
1962124.15%10,889.21
196311.60%11,062.95
19632-0.11%11,050.97
196334.98%11,601.10
196342.27%11,864.40
196350.22%11,890.10
19636-1.22%11,744.82
196373.03%12,100.82
196382.89%12,450.97
196390.50%12,513.21
196310-0.31%12,474.85
1963112.39%12,773.42
1963123.33%13,198.79
196411.48%13,394.12
196422.07%13,671.52
196431.69%13,902.99
196441.22%14,072.66
19645-0.35%14,023.31
196463.96%14,578.78
19647-1.23%14,400.09
196481.97%14,683.12
196491.97%14,972.41
1964100.94%15,112.69
196411-1.49%14,887.46
1964122.82%15,307.40
196510.98%15,456.66
196520.34%15,508.53
196531.56%15,750.10
196541.73%16,022.98
19655-4.51%15,300.77
196560.10%15,316.51
196572.12%15,641.01
196583.60%16,203.47
196592.50%16,608.05
1965101.08%16,786.75
196511-0.21%16,751.22
1965121.98%17,082.97
19661-0.43%17,009.45
19662-3.86%16,352.48
196633.32%16,895.54
19664-5.01%16,049.48
19665-0.56%15,959.68
196660.02%15,962.62
19667-5.77%15,041.66
19668-3.22%14,556.59
19669-0.56%14,474.44
1966105.32%15,243.90
1966110.72%15,353.02
1966124.13%15,987.14
196713.73%16,583.47
196722.63%17,020.23
196731.99%17,359.36
196742.06%17,716.56
19675-0.99%17,540.84
196761.99%17,890.33
196771.85%18,221.59
196781.65%18,522.96
196790.10%18,541.00
196710-2.88%18,006.70
1967113.11%18,567.02
196712-0.02%18,563.78
19681-4.26%17,773.52
19682-1.56%17,496.39
196837.66%18,836.92
196842.56%19,318.71
196852.94%19,886.81
196860.05%19,896.54
19687-1.93%19,511.76
196883.51%20,196.17
196892.72%20,744.93
1968101.79%21,115.38
1968111.29%21,386.78
196812-3.99%20,534.49
19691-0.24%20,485.50
19692-1.91%20,093.45
196932.27%20,550.43
196943.51%21,272.47
19695-4.97%20,214.95
19696-4.21%19,364.84
19697-0.28%19,309.92
196980.63%19,431.29
196991.35%19,692.91
1969101.00%19,889.34
196911-5.03%18,889.41
196912-0.59%18,778.14
19701-3.20%18,177.98
197022.01%18,543.77
19703-2.75%18,034.24
19704-11.20%16,014.58
19705-0.27%15,971.36
197060.52%16,054.82
197073.26%16,577.53
197086.32%17,625.44
197092.49%18,064.23
1970100.21%18,101.58
1970117.16%19,397.35
1970124.11%20,194.72
197114.15%21,033.01
197122.83%21,628.64
197133.67%22,423.24
19714-1.11%22,174.82
19715-1.60%21,820.94
19716-0.46%21,719.92
19717-1.52%21,390.40
197182.49%21,922.25
19719-1.86%21,513.69
197110-4.37%20,573.22
1971117.16%22,047.00
1971124.42%23,022.04
197212.09%23,502.50
197222.62%24,118.17
197231.26%24,421.80
19724-0.78%24,232.31
197250.52%24,357.37
19726-0.50%24,234.65
197273.78%25,151.61
19728-1.21%24,847.16
197290.42%24,950.88
1972105.25%26,261.85
1972112.31%26,868.90
1972120.99%27,134.73
19731-3.33%26,232.46
19732-1.35%25,879.55
19733-1.63%25,456.85
19734-2.57%24,802.67
19735-1.99%24,309.15
197361.21%24,603.35
19737-1.64%24,200.98
197382.00%24,683.86
197394.24%25,729.30
197310-6.85%23,966.11
197311-6.81%22,335.15
1973121.70%22,714.94
19741-2.47%22,153.23
197424.57%23,166.66
19743-4.82%22,050.81
19744-2.71%21,454.19
197450.46%21,552.28
19746-11.35%19,106.78
19747-3.76%18,387.45
19748-10.01%16,546.21
197492.38%16,939.50
1974103.74%17,573.62
197411-6.09%16,503.07
1974128.63%17,927.74
1975110.81%19,865.28
197524.97%20,853.31
197531.49%21,163.41
197546.71%22,584.03
197552.89%23,237.75
197560.43%23,338.14
19757-7.00%21,705.34
19758-0.85%21,520.27
197594.97%22,590.09
1975102.04%23,051.32
197511-1.18%22,779.39
1975129.55%24,953.75
197614.18%25,996.35
197620.80%26,204.95
197631.10%26,492.01
19764-0.38%26,390.48
197650.90%26,628.14
197662.67%27,337.88
19767-0.56%27,184.62
197682.44%27,847.35
19769-3.11%26,981.79
197610-0.37%26,882.86
1976113.79%27,900.78
197612-0.54%27,750.89
19771-2.37%27,093.58
19772-0.05%27,078.90
19773-1.19%26,755.67
197740.06%26,772.92
197750.90%27,013.82
197761.28%27,360.25
19777-2.08%26,791.54
19778-1.18%26,476.65
19779-2.20%25,894.73
1977100.98%26,148.79
197711-0.08%26,127.84
197712-3.39%25,242.01
19781-0.97%24,996.66
197820.27%25,063.07
197834.83%26,273.61
197845.50%27,719.80
197850.67%27,906.50
19786-0.06%27,889.12
197877.33%29,932.88
197880.40%30,052.51
19789-2.77%29,219.01
197810-5.44%27,630.18
1978111.92%28,161.46
1978124.19%29,340.11
19791-1.06%29,029.99
197922.34%29,709.63
197932.43%30,431.84
19794-1.89%29,855.76
197952.42%30,577.57
197961.42%31,012.03
197975.01%32,567.07
197981.54%33,068.75
19799-3.35%31,960.12
197910-0.32%31,857.07
1979114.40%33,260.05
1979123.31%34,361.78
198014.40%35,872.27
19802-8.78%32,723.47
19803-1.16%32,343.20
198045.04%33,972.05
198056.86%36,303.45
198064.97%38,107.53
198073.50%39,443.08
198082.84%40,561.61
198093.32%41,910.19
1980104.61%43,844.22
198011-1.24%43,298.45
1980120.01%43,302.78
19811-3.07%41,973.31
198124.14%43,712.39
198131.29%44,277.93
19814-1.62%43,561.84
198150.86%43,935.42
19816-2.02%43,049.57
198170.80%43,395.07
19818-8.30%39,792.12
198191.73%40,479.43
1981103.04%41,711.51
1981111.18%42,203.44
198112-4.80%40,175.94
19821-1.91%39,407.01
19822-2.74%38,325.47
198235.47%40,421.61
198240.57%40,651.87
19825-5.27%38,509.27
198260.24%38,603.17
198270.79%38,909.67
1982812.10%43,616.33
198298.88%47,490.07
1982104.50%49,627.09
1982111.36%50,299.78
1982123.93%52,274.43
198312.13%53,387.88
198323.87%55,451.65
198334.20%57,779.17
198344.42%60,335.33
198351.75%61,393.31
198360.71%61,828.06
19837-2.41%60,339.74
198383.31%62,339.30
198390.65%62,743.21
198310-1.14%62,027.05
198311-0.13%61,947.57
1983121.58%62,923.82
19841-5.11%59,707.05
198420.44%59,971.17
198430.51%60,275.34
19844-0.25%60,123.10
19845-1.85%59,011.84
19846-0.91%58,475.75
198479.21%63,859.36
198481.41%64,757.84
19849-0.41%64,490.77
1984101.29%65,320.06
198411-0.71%64,857.89
1984124.70%67,904.63
198515.79%71,834.52
19852-0.48%71,490.92
198531.02%72,223.49
198542.74%74,199.26
198552.51%76,062.38
198562.25%77,771.67
19857-1.85%76,336.54
19858-1.88%74,897.60
198591.50%76,017.75
1985106.42%80,898.48
1985115.29%85,181.66
1985120.75%85,821.99
198615.70%90,711.48
198626.18%96,319.97
198632.74%98,960.51
198640.49%99,447.23
198653.13%102,563.15
19866-1.80%100,713.00
198672.28%103,010.11
19868-2.46%100,479.94
19869-0.09%100,389.64
1986103.53%103,936.35
1986111.71%105,712.56
1986126.67%112,767.15
198716.46%120,054.03
198724.38%125,308.09
19873-0.86%124,234.93
198740.17%124,449.65
198754.50%130,047.95
198763.12%134,108.17
198776.45%142,763.53
19878-3.03%138,437.18
19879-11.85%122,027.00
198710-12.30%107,013.51
198711-1.33%105,585.21
1987124.25%110,068.93
198813.33%113,732.65
198823.23%117,408.55
19883-0.89%116,368.28
19884-2.19%113,821.83
198856.00%120,649.10
19886-0.31%120,278.80
19887-1.72%118,211.83
198881.93%120,489.97
198893.80%125,070.53
198810-2.02%122,543.80
1988112.33%125,394.11
1988123.51%129,798.78
198913.30%134,081.94
19892-0.16%133,865.19
198933.56%138,637.21
198944.12%144,342.55
198953.39%149,239.55
198962.80%153,418.52
198974.69%160,615.00
198980.46%161,346.67
198990.29%161,808.53
198910-1.81%158,874.05
1989112.74%163,221.97
198912-2.21%159,612.76
19901-2.53%155,579.05
199022.71%159,790.84
199030.20%160,104.00
199043.85%166,269.49
199053.17%171,540.16
199060.17%171,831.30
19907-7.86%158,323.26
19908-4.34%151,450.35
19909-2.32%147,943.11
1990102.98%152,357.46
1990114.59%159,345.49
199012-0.69%158,253.70
1991111.61%176,621.85
199123.04%181,999.32
199132.26%186,110.37
19914-0.18%185,777.46
199150.35%186,422.13
199160.78%187,877.12
199172.68%192,910.23
19918-0.30%192,325.51
199190.18%192,674.87
1991100.02%192,705.30
1991110.94%194,507.36
1991127.36%208,819.27
19921-0.60%207,564.58
19922-1.01%205,463.25
199230.26%206,006.29
199242.07%210,267.22
19925-1.33%207,472.52
199261.91%211,439.67
199270.94%213,430.84
199280.38%214,238.00
19929-1.18%211,705.59
1992102.76%217,542.11
1992113.27%224,658.35
1992120.14%224,979.37
199311.72%228,858.57
199322.15%233,779.38
19933-1.34%230,642.65
199340.72%232,314.18
199350.87%234,324.12
199360.06%234,467.07
199371.76%238,599.47
199381.35%241,832.42
199391.24%244,835.76
1993100.01%244,854.23
1993110.89%247,026.53
1993121.74%251,314.61
19941-0.08%251,124.36
19942-1.42%247,548.81
19943-3.35%239,264.89
199441.06%241,796.89
199451.11%244,476.23
19946-0.52%243,207.70
199473.08%250,703.55
199480.82%252,752.97
19949-0.44%251,630.73
199410-0.37%250,699.98
199411-1.03%248,128.54
1994122.45%254,210.60
199513.82%263,919.14
199522.56%270,670.64
199533.22%279,374.20
199543.35%288,726.98
199553.18%297,903.94
199563.55%308,472.02
199570.51%310,054.87
199583.72%321,581.67
199590.91%324,516.32
1995102.36%332,169.66
1995113.39%343,427.35
1995120.16%343,985.69
199615.90%364,295.96
19962-0.20%363,564.83
199630.20%364,281.21
199642.35%372,859.39
199651.28%377,626.75
19966-3.48%364,498.31
199673.08%375,709.38
199682.02%383,312.71
199694.12%399,103.27
1996105.05%419,266.29
1996111.20%424,290.06
1996123.26%438,111.47
199714.36%457,218.23
19972-0.62%454,366.63
19973-3.41%438,894.33
199749.22%479,350.86
199755.34%504,932.98
199765.74%533,895.56
199770.35%535,752.39
199781.19%542,138.60
199791.65%551,058.82
199710-1.15%544,710.38
1997112.63%559,061.41
1997120.24%560,386.88
199816.40%596,263.73
199825.31%627,942.47
199833.41%649,328.15
19984-0.22%647,887.56
199850.12%648,642.07
199864.47%677,621.24
19987-6.97%630,384.21
19988-4.90%599,505.16
199891.29%607,243.91
19981010.97%673,885.19
1998114.10%701,542.14
1998125.05%736,953.80
19991-0.07%736,462.17
199922.92%757,992.72
199934.25%790,207.58
19994-0.10%789,426.60
19995-0.61%784,597.15
199964.52%820,079.67
19997-3.77%789,126.70
19998-0.60%784,407.59
19999-1.27%774,426.23
1999107.11%829,456.57
1999112.81%852,753.77
199912-0.12%851,739.57
20001-2.48%830,632.80
200023.94%863,367.66
200031.42%875,667.76
20004-2.84%850,809.35
200053.16%877,724.54
200060.85%885,188.20
200070.94%893,506.41
20008-1.08%883,859.67
20009-5.21%837,773.19
200010-0.77%831,300.86
200011-3.32%803,701.06
2000120.46%807,357.96
20011-2.14%790,110.71
20012-9.08%718,369.42
200130.45%721,592.70
200146.88%771,233.47
20015-2.39%752,811.38
20016-2.66%732,784.89
20017-2.05%717,793.29
20018-11.25%637,060.74
200193.18%657,344.96
2001105.05%690,561.56
2001111.47%700,685.53
200112-0.30%698,599.67
20021-3.35%675,177.23
200224.95%708,566.58
20023-3.51%683,664.48
20024-2.82%664,382.61
20025-5.92%625,044.79
20026-10.76%557,799.35
200271.14%564,151.52
20028-4.76%537,310.71
20029-1.37%529,965.44
2002106.63%565,078.71
200211-1.04%559,229.80
200212-0.22%557,985.42
20031-6.41%522,191.57
200321.31%529,021.30
200335.29%556,984.62
200345.31%586,572.82
200355.70%620,032.02
200360.60%623,726.80
20037-0.17%622,689.39
200383.16%642,373.73
200392.03%655,399.97
2003101.21%663,334.15
2003113.06%683,657.45
2003124.93%717,395.68
200411.09%725,191.35
20042-1.57%713,840.68
200430.97%720,751.63
20044-2.56%702,269.73
200452.86%722,338.33
20046-2.24%706,166.77
20047-1.39%696,368.21
200482.78%715,745.52
200490.10%716,479.84
2004104.77%750,683.85
2004112.73%771,158.35
200412-1.35%760,753.72
200511.68%773,543.56
20052-0.26%771,566.48
20053-2.41%752,980.07
200541.34%763,038.91
200552.18%779,678.48
200561.81%793,773.43
200570.31%796,234.28
200580.28%798,461.27
20059-2.62%777,507.89
2005103.96%808,309.20
2005112.14%825,640.40
2005121.47%837,750.65
20061-0.02%837,611.25
200621.49%850,059.31
200630.80%856,845.60
20064-0.79%850,105.35
20065-2.71%827,103.26
200660.72%833,058.73
200672.29%852,150.44
200682.53%873,719.84
200693.62%905,312.79
2006102.00%923,433.92
2006112.15%943,271.73
2006120.69%949,806.97
200711.60%964,966.34
20072-2.47%941,094.13
200734.18%980,434.31
200743.39%1,013,688.22
200750.34%1,017,184.44
200760.57%1,023,029.38
20077-4.20%980,050.82
200783.07%1,010,184.87
200792.99%1,040,405.89
200710-4.81%990,400.75
2007111.24%1,002,664.10
200712-6.64%936,135.36
20081-1.56%921,494.53
20082-2.63%897,290.22
200834.24%935,369.45
200842.56%959,339.26
20085-4.25%918,600.13
20086-6.08%862,763.29
200872.11%880,972.21
20088-4.85%838,266.76
20089-20.19%668,990.65
200810-8.61%611,421.68
200811-0.35%609,274.26
200812-1.10%602,599.31
20091-6.70%562,210.05
20092-5.69%530,234.71
2009312.32%595,568.91
200946.66%635,232.74
200952.87%653,456.68
200961.28%661,805.52
200978.12%715,549.06
200983.65%741,669.06
200992.40%759,492.17
2009102.09%775,398.41
2009112.23%792,657.67
2009121.36%803,413.78
20101-2.90%780,127.05
201025.94%826,490.28
201034.09%860,276.62
20104-5.88%809,671.74
20105-3.54%780,980.50
20106-0.16%779,738.17
201070.86%786,472.08
201083.37%812,985.27
201094.58%850,199.16
2010102.49%871,376.89
2010113.71%903,737.53
2010123.46%935,026.67
201113.15%964,488.08
20112-1.11%953,758.53
201132.22%974,941.34
201140.66%981,368.50
20115-3.66%945,424.89
201163.10%974,749.47
20117-10.40%873,369.22
20118-0.79%866,476.20
201193.02%892,634.30
2011101.77%908,408.24
2011111.55%922,531.73
2011124.78%966,652.34
201214.16%1,006,890.30
201222.88%1,035,927.38
20123-0.04%1,035,531.55
20124-3.09%1,003,523.76
20125-1.15%991,959.04
201262.92%1,020,935.03
201273.39%1,055,521.25
201283.02%1,087,410.30
20129-0.22%1,085,049.15
201210-2.84%1,054,260.95
2012112.18%1,077,196.77
2012124.27%1,123,179.73
201312.33%1,149,383.76
201322.72%1,180,675.20
201331.45%1,197,839.76
201344.57%1,252,632.18
20135-1.12%1,238,630.57
201363.25%1,278,941.52
201370.25%1,282,171.21
201381.19%1,297,460.68
201392.12%1,324,935.06
2013103.86%1,376,077.47
2013111.52%1,397,016.71
2013120.97%1,410,537.15
20141-0.13%1,408,702.94
201422.72%1,447,051.63
201430.20%1,449,970.68
201441.53%1,472,184.74
201453.20%1,519,240.44
201461.50%1,541,965.57
20147-0.43%1,535,382.14
201481.78%1,562,681.75
20149-2.65%1,521,324.07
2014105.71%1,608,125.53
2014110.63%1,618,319.24
201412-1.11%1,600,355.16
201512.83%1,645,603.57
201520.06%1,646,514.63
201530.88%1,660,977.78
201540.98%1,677,237.15
20155-0.44%1,669,932.78
20156-0.08%1,668,603.02
20157-2.42%1,628,149.45
20158-4.51%1,554,767.20
201594.32%1,621,888.35
2015102.93%1,669,449.74
201511-1.10%1,651,036.21
201512-6.42%1,545,045.93
20161-0.55%1,536,549.58
201626.36%1,634,316.05
201632.83%1,680,587.79
20164-0.30%1,675,472.66
201651.07%1,693,341.42
201663.30%1,749,178.31
201671.20%1,770,155.46
20168-0.44%1,762,390.29
20169-0.51%1,753,472.94
2016101.20%1,774,534.96
2016113.95%1,844,557.47
2016121.44%1,871,075.47
201712.58%1,919,282.70
201721.75%1,952,855.89
20173-0.15%1,949,848.41
201741.69%1,982,847.12
201751.78%2,018,070.97
201760.99%2,038,007.18
201770.25%2,043,057.47
201781.65%2,076,834.58
201792.73%2,133,631.83
2017101.59%2,167,547.38
2017112.88%2,230,048.31
2017124.86%2,338,471.00
20181-2.89%2,270,966.67
201820.06%2,272,433.22
20183-1.66%2,234,620.57
201841.96%2,278,455.36
201852.11%2,326,598.43
201861.58%2,363,375.95
201872.45%2,421,297.68
201881.68%2,461,969.38
20189-3.85%2,367,208.52
201810-2.08%2,318,062.70
201811-5.56%2,189,120.18
2018121.74%2,227,115.35
201915.83%2,356,931.73
201921.95%2,402,845.28
201933.72%2,492,308.49
20194-1.53%2,454,131.59
201951.40%2,488,605.99
201963.83%2,583,853.49
20197-3.13%2,502,864.83
201983.09%2,580,083.90
201990.01%2,580,336.82
2019104.43%2,694,741.01
2019112.47%2,761,282.79
2019123.35%2,853,686.29
202010.12%2,857,169.97
20202-18.92%2,316,658.88
202034.32%2,416,706.44
202045.89%2,558,986.78
202056.51%2,725,532.59
202063.48%2,820,283.96
202075.89%2,986,497.53
20208-0.63%2,967,772.11
202091.73%3,018,995.90
2020103.95%3,138,370.52
2020114.26%3,272,067.63
2020122.80%3,363,531.72
202112.49%3,447,335.08
202120.82%3,475,650.03
202136.02%3,684,935.81
202140.76%3,712,949.86
202151.81%3,780,169.95
202163.07%3,896,153.18
202172.19%3,981,290.43
20218-0.08%3,977,926.28
202190.45%3,995,913.52
2021104.74%4,185,509.38
2021110.27%4,196,617.88
202112-2.05%4,110,505.26
20221-2.90%3,991,194.97
20222-0.89%3,955,570.22
202230.12%3,960,249.73
20224-7.87%3,648,469.95
20225-3.37%3,525,538.96
202260.46%3,541,921.62
202276.45%3,770,283.26
20228-7.28%3,495,904.51
20229-3.09%3,387,839.97
2022101.19%3,428,299.88
Click to show 1338 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 1910. This would result in a final amount of $3,538,179.99, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $3,428,299.88).

YearMonthContribution ($)Amount ($)
191014.164.01
191024.168.39
191034.1612.28
191044.1616.21
191054.1619.46
191064.1622.51
191074.1627.41
191084.1631.91
191094.1637.86
1910104.1642.14
1910114.1645.18
1910124.1650.73
191114.1656.06
191124.1659.75
191134.1663.88
191144.1669.78
191154.1675.71
191164.1679.85
191174.1680.32
191184.1680.21
191194.1685.22
1911104.1693.35
1911114.1698.35
1911124.32103.20
19121-102.74
19122-106.14
19123-109.90
19124-110.24
19125-110.69
19126-111.27
19127-114.28
19128-115.32
19129-115.56
191210-114.73
191211-111.08
191212-110.60
19131-107.15
19132-105.60
19133-105.96
19134-103.55
19135-98.83
19136-100.65
19137-103.83
19138-105.31
19139-102.47
191310-100.36
191311-100.73
191312-105.37
19141-107.25
19142-105.72
19143-103.67
19144-104.80
19145-104.77
19146-99.46
19147-99.94
19148-100.42
19149-100.89
191410-101.36
191411-97.47
191412-99.66
19151-98.80
19152-101.81
19153-109.95
19154-107.86
19155-109.56
19156-109.63
19157-114.77
19158-119.52
19159-126.64
191510-131.57
191511-132.34
191512-130.75
19161-129.44
19162-129.55
19163-128.68
19164-132.08
19165-133.94
19166-132.67
19167-134.28
19168-140.39
19169-145.37
191610-149.38
191611-144.05
191612-141.35
19171-134.08
19172-138.96
19173-137.61
19174-133.71
19175-137.20
19176-134.19
19177-131.03
19178-125.56
19179-119.61
191710-110.51
191711-107.63
191712-115.03
19181-119.44
19182-117.93
19183-117.68
19184-122.32
19185-123.36
19186-125.23
19187-127.25
19188-127.44
19189-133.69
191810-137.93
191811-136.02
191812-135.97
19191-137.31
19192-142.31
19193-147.86
19194-158.90
19195-163.97
19196-170.13
19197-159.49
19198-162.82
19199-171.95
191910-167.68
191911-163.56
191912-162.72
19201-150.08
19202-161.46
19203-160.97
19204-151.68
19205-149.86
19206-150.49
19207-145.41
19208-151.40
19209-152.42
192010-145.51
192011-133.31
192012-140.01
19211-139.86
19212-137.12
19213-138.54
19214-143.58
19215-132.91
19216-133.32
19217-132.51
19218-136.61
19219-139.28
192110-147.58
192111-153.61
192112-154.21
19221-158.40
19222-165.18
19223-176.05
19224-183.76
19225-182.90
19226-185.08
19227-192.92
19228-198.85
19229-204.14
192210-194.93
192211-195.42
192212-199.03
19231-208.48
19232-212.82
19233-206.34
19234-197.56
19235-191.03
19236-185.61
19237-187.53
19238-189.70
19239-187.92
192310-194.56
192311-202.19
192312-209.85
19241-211.86
19242-208.86
19243-205.13
19244-205.48
19245-210.45
19246-221.30
19247-230.01
19248-228.91
19249-227.06
192410-240.88
192411-255.01
192412-266.71
19251-270.14
19252-264.23
19253-262.62
19254-272.26
19255-278.35
19256-287.32
19257-292.45
19258-300.48
19259-311.67
192510-322.67
192511-329.24
192512-335.58
19261-337.45
19262-315.91
19263-308.47
19264-312.03
19265-328.31
19266-343.60
19267-358.69
19268-365.66
19269-358.95
192610-365.19
192611-375.07
192612-374.17
19271-383.05
19272-390.58
19273-401.82
19274-417.37
19275-424.47
19276-435.61
19277-460.55
19278-488.48
19279-482.78
192710-495.61
192711-509.07
192712-512.99
19281-508.74
19282-537.97
19283-573.81
19284-593.52
19285-566.42
19286-572.60
19287-593.17
19288-636.91
19289-651.92
192810-698.09
192811-702.95
192812-757.02
19291-763.16
19292-778.81
19293-776.47
19294-790.41
19295-807.82
19296-882.14
19297-934.69
19298-974.36
19299-873.76
192910-644.91
192911-673.12
192912-685.41
19301-730.90
19302-761.03
19303-811.93
19304-766.04
19305-691.20
19306-679.04
19307-672.95
19308-675.26
19309-584.97
193010-545.20
193011-511.46
193012-529.65
19311-572.76
19312-586.40
19313-533.15
19314-484.32
19315-471.34
19316-489.52
19317-477.36
19318-408.77
19319-356.65
193110-363.98
193111-298.10
193112-295.57
19321-295.43
19322-298.80
19323-229.40
19324-203.45
19325-178.24
19326-189.26
19327-286.45
19328-316.14
19329-274.36
193210-273.44
193211-266.22
193212-278.39
19331-247.03
19332-247.85
19333-275.71
19334-356.55
19335-419.24
19336-454.71
19337-433.61
19338-431.51
19339-391.05
193310-402.00
193311-411.33
193312-436.36
19341-470.18
19342-447.61
19343-456.65
19344-411.78
19345-418.79
19346-400.55
19347-386.47
19348-378.71
19349-383.29
193410-395.59
193411-399.78
193412-401.40
19351-390.89
19352-367.71
19353-396.89
19354-429.70
19355-447.64
19356-472.70
19357-506.29
19358-518.60
19359-534.09
193510-585.95
193511-587.68
193512-621.89
19361-659.40
19362-675.30
19363-678.10
19364-644.06
19365-673.52
19366-715.51
19367-731.95
19368-742.52
19369-783.73
193610-808.04
193611-796.73
193612-824.28
19371-851.50
19372-853.46
19373-805.46
19374-772.55
19375-746.76
19376-794.50
19377-805.92
19378-695.00
19379-597.02
193710-547.67
193711-542.09
193712-559.64
19381-549.55
19382-516.47
19383-498.69
19384-506.45
19385-521.31
19386-628.10
19387-634.75
19388-608.82
19389-679.55
193810-682.71
193811-665.30
193812-657.57
19391-654.56
19392-656.30
19393-575.97
19394-599.56
19395-612.58
19396-629.95
19397-623.23
19398-692.13
19399-701.71
193910-691.82
193911-678.17
193912-677.17
19401-675.62
19402-674.64
19403-684.22
19404-592.94
19405-544.94
19406-566.03
19407-581.03
19408-608.67
19409-617.59
194010-635.20
194011-612.39
194012-616.80
19411-581.50
19412-588.34
19413-573.36
19414-564.26
19415-587.43
19416-620.98
19417-621.45
19418-626.81
19419-605.29
194110-580.57
194111-546.42
194112-560.72
19421-546.82
19422-520.78
19423-502.79
19424-512.20
19425-541.64
19426-565.37
19427-565.63
19428-575.03
19429-620.85
194210-634.23
194211-640.92
194212-682.61
19431-726.53
19432-755.69
19433-784.31
19434-818.53
19435-836.37
19436-857.05
19437-818.15
19438-839.04
19439-834.84
194310-799.72
194311-813.88
194312-843.71
19441-841.66
19442-868.93
19443-857.56
19444-876.45
19445-921.52
19446-949.34
19447-939.32
19448-927.81
19449-954.57
194410-951.86
194411-976.61
194412-1,009.66
19451-1,047.35
19452-1,050.65
19453-1,081.13
19454-1,126.11
19455-1,150.75
19456-1,131.24
19457-1,139.23
19458-1,221.02
19459-1,276.14
194510-1,322.16
194511-1,348.92
194512-1,406.91
19461-1,415.15
19462-1,377.26
19463-1,470.49
19464-1,478.11
19465-1,473.10
19466-1,435.57
19467-1,412.27
19468-1,208.58
19469-1,185.96
194610-1,185.80
194611-1,226.05
194612-1,237.33
19471-1,290.16
19472-1,242.78
19473-1,201.79
19474-1,185.42
19475-1,231.89
19476-1,314.35
19477-1,293.86
19478-1,265.82
19479-1,304.14
194710-1,294.62
194711-1,280.09
194712-1,269.02
19481-1,212.56
19482-1,235.83
19483-1,337.02
19484-1,408.28
19485-1,472.88
19486-1,444.06
19487-1,408.12
19488-1,398.58
19489-1,443.17
194810-1,369.55
194811-1,367.39
194812-1,389.67
19491-1,343.43
19492-1,363.46
19493-1,369.10
19494-1,366.60
19495-1,299.46
19496-1,380.85
19497-1,438.44
19498-1,465.36
19499-1,511.39
194910-1,540.83
194911-1,590.77
194912-1,632.61
19501-1,673.80
19502-1,696.82
19503-1,754.27
19504-1,822.94
19505-1,862.40
19506-1,737.18
19507-1,852.49
19508-1,928.60
19509-2,019.66
195010-2,027.25
195011-2,031.20
195012-2,193.95
19511-2,288.49
19512-2,263.03
19513-2,306.62
19514-2,321.12
19515-2,294.54
19516-2,348.84
19517-2,465.47
19518-2,542.78
19519-2,543.51
195110-2,486.19
195111-2,576.02
195112-2,674.78
19521-2,639.15
19522-2,658.94
19523-2,664.34
19524-2,676.59
19525-2,763.44
19526-2,856.48
19527-2,881.63
19528-2,849.68
19529-2,803.78
195210-2,906.61
195211-3,037.67
195212-3,067.70
19531-3,043.98
19532-3,073.11
19533-2,935.65
19534-2,965.09
19535-2,872.94
19536-2,927.92
19537-2,954.24
19538-2,832.91
19539-2,932.54
195310-3,011.96
195311-3,067.28
195312-3,160.03
19541-3,244.61
19542-3,328.39
19543-3,476.52
19544-3,630.28
19545-3,674.68
19546-3,838.47
19547-3,930.37
19548-4,038.05
19549-4,147.51
195410-4,325.95
195411-4,540.22
195412-4,638.68
19551-4,810.53
19552-4,789.54
19553-4,971.93
19554-4,968.02
19555-5,273.31
19556-5,676.41
19557-5,659.42
19558-5,932.00
19559-5,651.72
195510-6,051.08
195511-6,125.94
195512-5,979.67
19561-6,036.44
19562-6,471.43
19563-6,567.39
19564-6,380.97
19565-6,364.26
19566-6,730.13
19567-6,710.97
19568-6,503.67
19569-6,441.66
195610-6,395.76
195611-6,511.46
195612-6,390.17
19571-6,134.84
19572-6,234.25
19573-6,399.09
19574-6,665.30
19575-6,795.56
19576-6,953.36
19577-6,591.43
19578-6,344.94
19579-5,970.81
195710-5,863.31
195711-5,881.95
195712-6,018.93
19581-6,061.17
19582-6,207.79
19583-6,263.44
19584-6,486.28
19585-6,663.69
19586-6,868.32
19587-7,146.78
19588-7,357.17
19589-7,677.87
195810-7,933.25
195811-8,104.80
195812-8,449.64
19591-8,342.74
19592-8,576.86
19593-8,742.94
19594-8,897.29
19595-8,843.35
19596-9,217.21
19597-9,187.85
19598-8,847.60
19599-8,863.24
195910-8,922.55
195911-9,231.55
195912-9,094.39
19601-8,766.15
19602-8,671.64
19603-8,809.02
19604-8,754.00
19605-9,103.12
19606-8,903.20
19607-9,035.94
19608-8,790.09
19609-8,642.95
196010-8,948.98
196011-9,189.77
196012-9,688.49
19611-10,112.28
19612-10,455.80
19613-10,761.00
19614-10,896.95
19615-10,779.24
19616-10,776.23
19617-11,189.93
19618-11,129.31
19619-11,278.78
196110-11,817.01
196111-11,954.45
196112-11,537.58
19621-11,757.89
19622-11,797.98
19623-11,450.54
19624-10,627.81
19625-9,414.88
19626-9,670.72
19627-9,963.07
19628-9,903.95
19629-9,621.06
196210-10,313.86
196211-10,790.75
196212-11,238.21
19631-11,417.52
19632-11,405.16
19633-11,972.93
19634-12,244.66
19635-12,271.19
19636-12,121.25
19637-12,488.66
19638-12,850.03
19639-12,914.27
196310-12,874.68
196311-13,182.81
196312-13,621.83
19641-13,823.42
19642-14,109.71
19643-14,348.60
19644-14,523.70
19645-14,472.77
19646-15,046.04
19647-14,861.63
19648-15,153.73
19649-15,452.28
196410-15,597.06
196411-15,364.62
196412-15,798.02
19651-15,952.06
19652-16,005.59
19653-16,254.90
19654-16,536.53
19655-15,791.17
19656-15,807.42
19657-16,142.32
19658-16,722.81
19659-17,140.35
196510-17,324.78
196511-17,288.12
196512-17,630.50
19661-17,554.61
19662-16,876.59
19663-17,437.06
19664-16,563.88
19665-16,471.21
19666-16,474.24
19667-15,523.76
19668-15,023.15
19669-14,938.35
196610-15,732.49
196611-15,845.10
196612-16,499.55
19671-17,114.98
19672-17,565.75
19673-17,915.74
19674-18,284.39
19675-18,103.04
19676-18,463.73
19677-18,805.61
19678-19,116.64
19679-19,135.26
196710-18,583.83
196711-19,162.11
196712-19,158.76
19681-18,343.18
19682-18,057.16
19683-19,440.66
19684-19,937.89
19685-20,524.20
19686-20,534.24
19687-20,137.12
19688-20,843.47
19689-21,409.83
196810-21,792.15
196811-22,072.25
196812-21,192.64
19691-21,142.08
19692-20,737.47
19693-21,209.09
19694-21,954.27
19695-20,862.85
19696-19,985.50
19697-19,928.82
19698-20,054.08
19699-20,324.09
196910-20,526.81
196911-19,494.83
196912-19,380.00
19701-18,760.60
19702-19,138.11
19703-18,612.25
19704-16,527.86
19705-16,483.26
19706-16,569.39
19707-17,108.85
19708-18,190.36
19709-18,643.21
197010-18,681.75
197011-20,019.06
197012-20,841.98
19711-21,707.14
19712-22,321.85
19713-23,141.93
19714-22,885.54
19715-22,520.32
19716-22,416.06
19717-22,075.99
19718-22,624.88
19719-22,203.23
197110-21,232.61
197111-22,753.63
197112-23,759.92
19721-24,255.78
19722-24,891.18
19723-25,204.54
19724-25,008.98
19725-25,138.05
19726-25,011.39
19727-25,957.74
19728-25,643.53
19729-25,750.58
197210-27,103.57
197211-27,730.07
197212-28,004.42
19731-27,073.24
19732-26,709.01
19733-26,272.77
19734-25,597.62
19735-25,088.28
19736-25,391.91
19737-24,976.65
19738-25,475.00
19739-26,553.95
197310-24,734.25
197311-23,051.01
197312-23,442.98
19741-22,863.26
19742-23,909.18
19743-22,757.56
19744-22,141.81
19745-22,243.05
19746-19,719.17
19747-18,976.79
19748-17,076.53
19749-17,482.43
197410-18,136.87
197411-17,032.00
197412-18,502.34
19751-20,501.98
19752-21,521.68
19753-21,841.71
19754-23,307.87
19755-23,982.54
19756-24,086.15
19757-22,401.02
19758-22,210.01
19759-23,314.13
197510-23,790.13
197511-23,509.49
197512-25,753.54
19761-26,829.56
19762-27,044.84
19763-27,341.11
19764-27,236.31
19765-27,481.60
19766-28,214.08
19767-28,055.91
19768-28,739.88
19769-27,846.58
197610-27,744.48
197611-28,795.03
197612-28,640.33
19771-27,961.95
19772-27,946.80
19773-27,613.21
19774-27,631.02
19775-27,879.64
19776-28,237.18
19777-27,650.23
19778-27,325.25
19779-26,724.68
197710-26,986.89
197711-26,965.26
197712-26,051.04
19781-25,797.83
19782-25,866.36
19783-27,115.71
19784-28,608.24
19785-28,800.93
19786-28,782.99
19787-30,892.25
19788-31,015.72
19789-30,155.50
197810-28,515.75
197811-29,064.06
197812-30,280.48
19791-29,960.43
19792-30,661.85
19793-31,407.21
19794-30,812.67
19795-31,557.61
19796-32,005.99
19797-33,610.88
19798-34,128.64
19799-32,984.47
197910-32,878.12
197911-34,326.07
197912-35,463.10
19801-37,022.01
19802-33,772.28
19803-33,379.83
19804-35,060.89
19805-37,467.00
19806-39,328.91
19807-40,707.27
19808-41,861.64
19809-43,253.45
198010-45,249.46
198011-44,686.21
198012-44,690.67
19811-43,318.59
19812-45,113.41
19813-45,697.08
19814-44,958.04
19815-45,343.59
19816-44,429.35
19817-44,785.93
19818-41,067.49
19819-41,776.83
198110-43,048.40
198111-43,556.10
198112-41,463.62
19821-40,670.04
19822-39,553.84
19823-41,717.16
19824-41,954.80
19825-39,743.53
19826-39,840.44
19827-40,156.76
19828-45,014.28
19829-49,012.17
198210-51,217.68
198211-51,911.93
198212-53,949.87
19831-55,099.01
19832-57,228.92
19833-59,631.05
19834-62,269.13
19835-63,361.02
19836-63,809.70
19837-62,273.68
19838-64,337.33
19839-64,754.19
198310-64,015.07
198311-63,933.05
198312-64,940.59
19841-61,620.71
19842-61,893.30
19843-62,207.22
19844-62,050.10
19845-60,903.23
19846-60,349.95
19847-65,906.11
19848-66,833.38
19849-66,557.76
198410-67,413.63
198411-66,936.64
198412-70,081.03
19851-74,136.88
19852-73,782.27
19853-74,538.32
19854-76,577.42
19855-78,500.25
19856-80,264.33
19857-78,783.20
19858-77,298.14
19859-78,454.18
198510-83,491.35
198511-87,911.81
198512-88,572.67
19861-93,618.87
19862-99,407.11
19863-102,132.28
19864-102,634.60
19865-105,850.39
19866-103,940.94
19867-106,311.68
19868-103,700.42
19869-103,607.22
198610-107,267.61
198611-109,100.75
198612-116,381.44
19871-123,901.87
19872-129,324.32
19873-128,216.78
19874-128,438.37
19875-134,216.10
19876-138,406.46
19877-147,339.23
19878-142,874.22
19879-125,938.07
198710-110,443.39
198711-108,969.31
198712-113,596.74
19881-117,377.88
19882-121,171.60
19883-120,097.99
19884-117,469.93
19885-124,516.01
19886-124,133.84
19887-122,000.62
19888-124,351.78
19889-129,079.16
198810-126,471.44
198811-129,413.11
198812-133,958.95
19891-138,379.39
19892-138,155.69
19893-143,080.66
19894-148,968.86
19895-154,022.81
19896-158,335.72
19897-165,762.86
19898-166,517.97
19899-166,994.64
198910-163,966.11
198911-168,453.38
198912-164,728.49
19901-160,565.50
19902-164,912.28
19903-165,235.48
19904-171,598.58
19905-177,038.18
19906-177,338.65
19907-163,397.66
19908-156,304.47
19909-152,684.82
199010-157,240.65
199011-164,452.66
199012-163,325.88
19911-182,282.74
19912-187,832.56
19913-192,075.38
19914-191,731.79
19915-192,397.12
19916-193,898.76
19917-199,093.18
19918-198,489.72
19919-198,850.27
199110-198,881.68
199111-200,741.50
199112-215,512.11
19921-214,217.22
19922-212,048.53
19923-212,608.98
19924-217,006.48
19925-214,122.20
19926-218,216.50
19927-220,271.49
19928-221,104.53
19929-218,490.95
199210-224,514.53
199211-231,858.85
199212-232,190.16
19931-236,193.69
19932-241,272.22
19933-238,034.96
19934-239,760.06
19935-241,834.42
19936-241,981.95
19937-246,246.80
19938-249,583.37
19939-252,682.96
199310-252,702.03
199311-254,943.95
199312-259,369.47
19941-259,173.13
19942-255,482.97
19943-246,933.55
19944-249,546.70
19945-252,311.91
19946-251,002.73
19947-258,738.83
19948-260,853.93
19949-259,695.72
199410-258,735.15
199411-256,081.28
199412-262,358.28
19951-272,377.99
19952-279,345.88
19953-288,328.40
19954-297,980.94
19955-307,452.03
19956-318,358.83
19957-319,992.41
19958-331,888.65
19959-334,917.36
199510-342,816.00
199511-354,434.51
199512-355,010.75
19961-375,971.98
19962-375,217.41
19963-375,956.75
19964-384,809.88
19965-389,730.03
19966-376,180.81
19967-387,751.20
19968-395,598.23
19969-411,894.89
199610-432,704.16
199611-437,888.94
199612-452,153.34
19971-471,872.49
19972-468,929.49
19973-452,961.29
19974-494,714.49
19975-521,116.54
19976-551,007.39
19977-552,923.74
19978-559,514.63
19979-568,720.75
199710-562,168.84
199711-576,979.83
199712-578,347.79
19981-615,374.53
19982-648,068.59
19983-670,139.70
19984-668,652.95
19985-669,431.64
19986-699,339.61
19987-650,588.60
19988-618,719.84
19989-626,706.63
199810-695,483.82
199811-724,027.20
199812-760,573.83
19991-760,066.45
19992-782,287.07
19993-815,534.44
19994-814,728.44
19995-809,744.20
19996-846,363.96
19997-814,418.92
19998-809,548.56
19999-799,247.29
199910-856,041.40
199911-880,085.30
199912-879,038.59
20001-857,255.34
20002-891,039.37
20003-903,733.70
20004-878,078.56
20005-905,856.40
20006-913,559.28
20007-922,144.10
20008-912,188.17
20009-864,624.58
200010-857,944.80
200011-829,460.40
200012-833,234.51
20011-815,434.47
20012-741,393.81
20013-744,720.40
20014-795,952.20
20015-776,939.67
20016-756,271.31
20017-740,799.21
20018-657,479.12
20019-678,413.46
200110-712,694.68
200111-723,143.14
200112-720,990.42
20021-696,817.27
20022-731,276.78
20023-705,576.55
20024-685,676.67
20025-645,078.04
20026-575,677.32
20027-582,233.08
20028-554,532.01
20029-546,951.32
200210-583,190.00
200211-577,153.62
200212-575,869.35
20031-538,928.28
20032-545,976.91
20033-574,836.48
20034-605,373.01
20035-639,904.61
20036-643,717.80
20037-642,647.15
20038-662,962.38
20039-676,406.13
200310-684,594.61
200311-705,569.29
200312-740,388.86
20041-748,434.39
20042-736,719.91
20043-743,852.37
20044-724,778.11
20045-745,489.93
20046-728,800.05
20047-718,687.44
20048-738,685.81
20049-739,443.67
200410-774,743.94
200411-795,874.68
200412-785,136.56
20051-798,336.33
20052-796,295.88
20053-777,113.76
20054-787,495.00
20055-804,667.88
20056-819,214.59
20057-821,754.31
20058-824,052.68
20059-802,427.72
200510-834,216.24
200511-852,102.93
200512-864,601.32
20061-864,457.45
20062-877,304.48
20063-884,308.28
20064-877,351.99
20065-853,612.66
20066-859,759.02
20067-879,462.63
20068-901,723.35
20069-934,328.89
200610-953,030.81
200611-973,504.44
200612-980,249.14
20071-995,894.39
20072-971,257.04
20073-1,011,858.11
20074-1,046,177.84
20075-1,049,786.13
20076-1,055,818.40
20077-1,011,462.33
20078-1,042,562.20
20079-1,073,751.84
200710-1,022,144.00
200711-1,034,800.40
200712-966,139.35
20081-951,029.26
20082-926,049.18
20083-965,348.88
20084-990,086.95
20085-948,042.10
20086-890,415.63
20087-909,208.16
20088-865,133.97
20089-690,432.40
200810-631,018.29
200811-628,802.05
200812-621,913.17
20091-580,229.40
20092-547,229.22
20093-614,657.43
20094-655,592.52
20095-674,400.56
20096-683,016.99
20097-738,483.06
20098-765,440.22
20099-783,834.58
200910-800,250.63
200911-818,063.07
200912-829,163.92
20101-805,130.83
20102-852,980.04
20103-887,849.27
20104-835,622.45
20105-806,011.63
20106-804,729.49
20107-811,679.22
20108-839,042.18
20109-877,448.81
201010-899,305.31
201011-932,703.13
201012-964,995.12
20111-995,400.80
20112-984,327.36
20113-1,006,189.10
20114-1,012,822.25
20115-975,726.62
20116-1,005,991.08
20117-901,361.50
20118-894,247.55
20119-921,244.04
201110-937,523.55
201111-952,099.71
201112-997,634.43
20121-1,039,162.04
20122-1,069,129.79
20123-1,068,721.27
20124-1,035,687.61
20125-1,023,752.23
20126-1,053,656.92
20127-1,089,351.66
20128-1,122,262.78
20129-1,119,825.96
201210-1,088,050.97
201211-1,111,721.90
201212-1,159,178.65
20131-1,186,222.55
20132-1,218,516.91
20133-1,236,231.60
20134-1,292,780.17
20135-1,278,329.80
20136-1,319,932.75
20137-1,323,265.95
20138-1,339,045.47
20139-1,367,400.42
201310-1,420,182.00
201311-1,441,792.36
201312-1,455,746.14
20141-1,453,853.15
20142-1,493,430.95
20143-1,496,443.55
20144-1,519,369.59
20145-1,567,933.47
20146-1,591,386.96
20147-1,584,592.52
20148-1,612,767.12
20149-1,570,083.88
201410-1,659,667.41
201411-1,670,187.84
201412-1,651,647.99
20151-1,698,346.65
20152-1,699,286.92
20153-1,714,213.62
20154-1,730,994.12
20155-1,723,455.64
20156-1,722,083.25
20157-1,680,333.11
20158-1,604,598.89
20159-1,673,871.34
201510-1,722,957.11
201511-1,703,953.42
201512-1,594,566.05
20161-1,585,797.39
20162-1,686,697.36
20163-1,734,452.15
20164-1,729,173.08
20165-1,747,614.54
20166-1,805,241.06
20167-1,826,890.54
20168-1,818,876.50
20169-1,809,673.33
201610-1,831,410.41
201611-1,903,677.21
201612-1,931,045.13
20171-1,980,797.45
20172-2,015,446.69
20173-2,012,342.82
20174-2,046,399.17
20175-2,082,751.98
20176-2,103,327.15
20177-2,108,539.31
20178-2,143,399.01
20179-2,202,016.67
201710-2,237,019.24
201711-2,301,523.38
201712-2,413,421.11
20181-2,343,753.21
20182-2,345,266.76
20183-2,306,242.18
20184-2,351,481.92
20185-2,401,168.02
20186-2,439,124.29
20187-2,498,902.47
20188-2,540,877.72
20189-2,443,079.69
201810-2,392,358.71
201811-2,259,283.47
201812-2,298,496.41
20191-2,432,473.53
20192-2,479,858.65
20193-2,572,189.23
20194-2,532,788.73
20195-2,568,368.06
20196-2,666,668.34
20197-2,583,083.91
20198-2,662,777.92
20199-2,663,038.95
201910-2,781,109.90
201911-2,849,784.40
201912-2,945,149.51
20201-2,948,744.86
20202-2,390,909.89
20203-2,494,164.07
20204-2,641,004.62
20205-2,812,888.38
20206-2,910,676.61
20207-3,082,217.48
20208-3,062,891.89
20209-3,115,757.45
202010-3,238,958.13
202011-3,376,940.35
202012-3,471,335.96
20211-3,557,825.29
20212-3,587,047.76
20213-3,803,041.34
20214-3,831,953.26
20215-3,901,327.81
20216-4,021,028.41
20217-4,108,894.39
20218-4,105,422.42
20219-4,123,986.16
202110-4,319,658.75
202111-4,331,123.28
202112-4,242,250.67
20221-4,119,116.38
20222-4,082,349.82
20223-4,087,179.32
20224-3,765,406.72
20225-3,638,535.67
20226-3,655,443.41
20227-3,891,124.25
20228-3,607,951.41
20229-3,496,423.31
202210-3,538,179.99
Click to show 1338 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 1910 to 2022
Start Value
Average monthly close
$10.08
End Value
Average monthly close
$3,770.55
Change in price+37,306.25%
+5.43% / yr
Change incl. dividends+3,428,199.88%
+9.70% / yr
Change incl. dividends, inflation-adjusted+109,187.04%
+6.40% / yr
Final amount, nominal
($100 base)
$3,428,299.88
Final amount, inflation-adjusted
($100 base)
$109,287.04