S&P 500: $100 in 1912 → $3,428,399.06 in 2022

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Stock market returns since 1912

If you invested $100 in the S&P 500 at the beginning of 1912, you would have about $3,428,399.06 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 3,428,299.06%, or 9.88% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 111,491.05% cumulatively, or 6.54% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $3,296,757.13.

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 $3,428,299.06, or 3,428,299.06%. This means by 2022 you would have $3,428,399.06 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 1912 was 9.700 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 110 years.

Adjusted for inflation, the $3,428,399.06 nominal end value of the original $100 investment would have a real return of roughly $111,491.05 in 1912 dollars. This means the inflation-adjusted return is 111,491.05% as opposed to the original 3,428,299.06%.

For more information on inflation, see our U.S. inflation calculator for 1912.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1330-month period between 1912 and 2022.

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

YearMonthReturn (%)Amount ($)
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%111.75
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%100.34
19135-4.56%95.76
191361.85%97.53
191373.16%100.61
191381.42%102.04
19139-2.70%99.29
191310-2.06%97.24
1913110.37%97.61
1913124.60%102.10
191411.79%103.92
19142-1.42%102.44
19143-1.94%100.46
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%98.22
191411-3.84%94.45
1914122.24%96.57
19151-0.87%95.73
191523.05%98.65
191537.99%106.54
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%127.49
1915110.59%128.24
191512-1.20%126.69
19161-1.00%125.43
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%136.97
19171-5.15%129.92
191723.64%134.65
19173-0.97%133.34
19174-2.83%129.56
191752.61%132.94
19176-2.19%130.03
19177-2.36%126.97
19178-4.17%121.67
19179-4.74%115.89
191710-7.61%107.08
191711-2.61%104.29
1917126.88%111.46
191813.84%115.73
19182-1.27%114.27
19183-0.21%114.03
191843.94%118.53
191850.85%119.54
191861.51%121.34
191871.62%123.31
191880.14%123.48
191894.91%129.54
1918103.17%133.65
191811-1.39%131.80
191812-0.03%131.76
191910.98%133.05
191923.64%137.90
191933.90%143.27
191947.47%153.97
191953.19%158.88
191963.75%164.85
19197-6.25%154.54
191982.09%157.77
191995.60%166.62
191910-2.48%162.48
191911-2.45%158.49
191912-0.51%157.67
19201-7.77%145.42
192027.58%156.45
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%146.71
192090.67%147.69
192010-4.53%141.00
192011-8.39%129.17
1920125.03%135.67
19211-0.11%135.52
19212-1.96%132.87
192131.04%134.25
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%143.00
1921114.09%148.85
1921120.39%149.42
192212.72%153.49
192224.28%160.05
192236.58%170.59
192244.38%178.06
19225-0.47%177.23
192261.19%179.33
192274.24%186.94
192283.07%192.68
192292.67%197.81
192210-4.52%188.88
1922110.25%189.35
1922121.85%192.86
192314.75%202.02
192322.08%206.21
19233-3.04%199.93
19234-4.25%191.43
19235-3.31%185.10
19236-2.84%179.85
192371.04%181.71
192381.16%183.81
19239-0.94%182.09
1923103.54%188.53
1923113.92%195.91
1923123.79%203.34
192410.95%205.28
19242-1.42%202.38
19243-1.79%198.76
192440.17%199.11
192452.42%203.92
192465.16%214.44
192473.93%222.87
19248-0.48%221.80
19249-0.81%220.02
1924106.08%233.40
1924115.87%247.10
1924124.58%258.43
192511.29%261.76
19252-2.19%256.03
19253-0.61%254.47
192543.67%263.81
192552.24%269.72
192563.22%278.41
192571.79%283.38
192582.74%291.15
192593.73%302.00
1925103.53%312.65
1925112.04%319.02
1925121.93%325.17
192610.56%326.98
19262-6.38%306.11
19263-2.35%298.90
192641.15%302.35
192655.22%318.13
192664.66%332.93
192674.39%347.56
192681.94%354.32
19269-1.83%347.81
1926101.74%353.86
1926112.71%363.43
192612-0.24%362.56
192712.37%371.16
192721.97%378.46
192732.88%389.35
192743.87%404.42
192751.70%411.30
192762.62%422.10
192775.73%446.26
192786.06%473.32
19279-1.17%467.80
1927102.66%480.23
1927112.72%493.28
1927120.77%497.07
19281-0.83%492.95
192825.75%521.28
192836.66%556.01
192843.44%575.10
19285-4.57%548.85
192861.09%554.84
192873.59%574.76
192887.37%617.15
192892.36%631.70
1928107.08%676.43
1928110.70%681.14
1928127.69%733.53
192910.81%739.48
192922.05%754.65
19293-0.30%752.37
192941.80%765.89
192952.20%782.75
192969.20%854.77
192975.96%905.69
192984.24%944.13
19299-10.32%846.65
192910-26.19%624.90
1929114.37%652.23
1929121.83%664.14
193016.64%708.22
193024.12%737.42
193036.69%786.73
19304-5.65%742.27
19305-9.77%669.76
19306-1.76%657.97
19307-0.90%652.07
193080.34%654.31
19309-13.37%566.82
193010-6.80%528.28
193011-6.19%495.59
1930123.56%513.22
193118.14%554.99
193122.38%568.20
19313-9.08%516.61
19314-9.16%469.29
19315-2.68%456.72
193163.86%474.33
19317-2.49%462.55
19318-14.37%396.08
19319-12.75%345.58
1931102.05%352.68
193111-18.10%288.85
193112-0.85%286.40
19321-0.05%286.26
193221.14%289.53
19323-23.22%222.29
19324-11.31%197.14
19325-12.39%172.71
193266.18%183.39
1932751.35%277.56
1932810.37%306.34
19329-13.22%265.85
193210-0.34%264.96
193211-2.64%257.96
1932124.57%269.75
19331-11.27%239.36
193320.33%240.16
1933311.24%267.16
1933429.32%345.49
1933517.58%406.23
193368.46%440.60
19337-4.64%420.15
19338-0.48%418.12
19339-9.38%378.91
1933102.80%389.53
1933112.32%398.57
1933126.08%422.82
193417.75%455.59
19342-4.80%433.73
193432.02%442.48
19344-9.83%399.00
193451.70%405.80
19346-4.36%388.12
19347-3.51%374.48
19348-2.01%366.96
193491.21%371.39
1934103.21%383.32
1934111.06%387.38
1934120.40%388.95
19351-2.62%378.76
19352-5.93%356.30
193537.94%384.58
193548.27%416.37
193554.17%433.75
193565.60%458.03
193577.10%490.58
193582.43%502.51
193592.99%517.52
1935109.71%567.77
1935110.29%569.44
1935125.82%602.59
193616.03%638.94
193622.41%654.35
193630.41%657.06
19364-5.02%624.08
193654.57%652.62
193666.23%693.31
193672.30%709.24
193681.44%719.48
193695.55%759.42
1936103.10%782.97
193611-1.40%772.01
1936123.46%798.71
193713.30%825.08
193720.23%826.98
19373-5.62%780.47
19374-4.09%748.58
19375-3.34%723.59
193766.39%769.85
193771.44%780.91
19378-13.76%673.44
19379-14.10%578.50
193710-8.27%530.68
193711-1.02%525.27
1937123.24%542.27
19381-1.80%532.50
19382-6.02%500.45
19383-3.44%483.22
193841.56%490.74
193852.93%505.13
1938620.49%608.62
193871.06%615.05
19388-4.08%589.93
1938911.62%658.46
1938100.47%661.53
193811-2.55%644.66
193812-1.16%637.17
19391-0.46%634.25
193920.27%635.94
19393-12.24%558.10
193944.10%580.96
193952.17%593.57
193962.84%610.41
19397-1.07%603.89
1939811.06%670.66
193991.38%679.93
193910-1.41%670.36
193911-1.97%657.13
193912-0.15%656.16
19401-0.23%654.66
19402-0.15%653.71
194031.42%662.99
19404-13.34%574.54
19405-8.09%528.03
194063.87%548.47
194072.65%563.00
194084.76%589.78
194091.47%598.43
1940102.85%615.49
194011-3.59%593.39
1940120.72%597.67
19411-5.72%563.46
194121.18%570.09
19413-2.55%555.57
19414-1.59%546.75
194154.11%569.20
194165.71%601.71
194170.08%602.17
194180.86%607.36
19419-3.43%586.51
194110-4.08%562.56
194111-5.88%529.47
1941122.62%543.32
19421-2.48%529.85
19422-4.76%504.62
19423-3.45%487.19
194241.87%496.30
194255.75%524.83
194264.38%547.83
194270.05%548.08
194281.66%557.19
194297.97%601.59
1942102.15%614.55
1942111.06%621.04
1942126.50%661.43
194316.43%703.98
194324.01%732.25
194333.79%759.97
194344.36%793.13
194352.18%810.42
194362.47%830.46
19437-4.54%792.77
194382.55%813.00
19439-0.50%808.94
194310-4.21%774.91
1943111.77%788.63
1943123.67%817.54
19441-0.24%815.54
194423.24%841.97
19443-1.31%830.95
194442.20%849.26
194455.14%892.93
194463.02%919.89
19447-1.06%910.18
19448-1.23%899.03
194492.88%924.95
194410-0.28%922.32
1944112.60%946.30
1944123.38%978.33
194513.73%1,014.85
194520.31%1,018.05
194532.90%1,047.59
194544.16%1,091.17
194552.19%1,115.04
19456-1.70%1,096.14
194570.71%1,103.88
194587.18%1,183.14
194594.51%1,236.54
1945103.61%1,281.13
1945112.02%1,307.07
1945124.30%1,363.26
194610.59%1,371.25
19462-2.68%1,334.53
194636.77%1,424.86
194640.52%1,432.25
19465-0.34%1,427.40
19466-2.55%1,391.03
19467-1.62%1,368.45
19468-14.42%1,171.08
19469-1.87%1,149.16
194610-0.01%1,149.01
1946113.39%1,188.01
1946120.92%1,198.94
194714.27%1,250.13
19472-3.67%1,204.22
19473-3.30%1,164.50
19474-1.36%1,148.64
194753.92%1,193.67
194766.69%1,273.57
19477-1.56%1,253.72
19478-2.17%1,226.55
194793.03%1,263.67
194710-0.73%1,254.45
194711-1.12%1,240.37
194712-0.86%1,229.64
19481-4.45%1,174.94
194821.92%1,197.49
194838.19%1,295.53
194845.33%1,364.58
194854.59%1,427.18
19486-1.96%1,399.25
19487-2.49%1,364.43
19488-0.68%1,355.18
194893.19%1,398.39
194810-5.10%1,327.06
194811-0.16%1,324.96
1948121.63%1,346.55
19491-3.33%1,301.74
194921.49%1,321.16
194930.41%1,326.62
19494-0.18%1,324.20
19495-4.91%1,259.14
194966.26%1,338.01
194974.17%1,393.81
194981.87%1,419.89
194993.14%1,464.50
1949101.95%1,493.02
1949113.24%1,541.42
1949122.63%1,581.96
195012.52%1,621.86
195021.38%1,644.17
195033.39%1,699.84
195043.91%1,766.38
195052.16%1,804.62
19506-6.72%1,683.28
195076.64%1,795.01
195084.11%1,868.76
195094.72%1,956.99
1950100.38%1,964.35
1950110.19%1,968.18
1950128.01%2,125.88
195114.31%2,217.48
19512-1.11%2,192.81
195131.93%2,235.05
195140.63%2,249.10
19515-1.15%2,223.35
195162.37%2,275.97
195174.97%2,388.97
195183.14%2,463.89
195190.03%2,464.59
195110-2.25%2,409.05
1951113.61%2,496.09
1951123.83%2,591.79
19521-1.33%2,557.27
195220.75%2,576.44
195230.20%2,581.67
195240.46%2,593.54
195253.24%2,677.70
195263.37%2,767.85
195270.88%2,792.22
19528-1.11%2,761.26
19529-1.61%2,716.78
1952103.67%2,816.42
1952114.51%2,943.41
1952120.99%2,972.52
19531-0.77%2,949.53
195320.96%2,977.76
19533-4.47%2,844.57
195341.00%2,873.09
19535-3.11%2,783.80
195361.91%2,837.08
195370.90%2,862.58
19538-4.11%2,745.02
195393.52%2,841.55
1953102.71%2,918.51
1953111.84%2,972.11
1953123.02%3,061.98
195412.68%3,143.93
195422.58%3,225.12
195434.45%3,368.66
195444.42%3,517.64
195451.22%3,560.66
195464.46%3,719.37
195472.39%3,808.42
195482.74%3,912.76
195492.71%4,018.83
1954104.30%4,191.72
1954114.95%4,399.35
1954122.17%4,494.75
195513.70%4,661.27
19552-0.44%4,640.93
195533.81%4,817.67
19554-0.08%4,813.87
195556.15%5,109.69
195567.64%5,500.28
19557-0.30%5,483.82
195584.82%5,747.94
19559-4.72%5,476.36
1955107.07%5,863.33
1955111.24%5,935.87
195512-2.39%5,794.13
195610.95%5,849.15
195627.21%6,270.64
195631.48%6,363.62
19564-2.84%6,182.99
19565-0.26%6,166.79
195665.75%6,521.31
19567-0.28%6,502.74
19568-3.09%6,301.88
19569-0.95%6,241.79
195610-0.71%6,197.32
1956111.81%6,309.42
195612-1.86%6,191.90
19571-4.00%5,944.49
195721.62%6,040.82
195732.64%6,200.54
195744.16%6,458.50
195751.95%6,584.71
195762.32%6,737.61
19577-5.21%6,386.91
19578-3.74%6,148.08
19579-5.90%5,785.55
195710-1.80%5,681.38
1957110.32%5,699.45
1957122.33%5,832.18
195810.70%5,873.11
195822.42%6,015.18
195830.90%6,069.10
195843.56%6,285.03
195852.74%6,456.94
195863.07%6,655.21
195874.05%6,925.04
195882.94%7,128.89
195894.36%7,439.64
1958103.33%7,687.10
1958112.16%7,853.33
1958124.25%8,187.46
19591-1.27%8,083.89
195922.81%8,310.74
195931.94%8,471.67
195941.77%8,621.23
19595-0.61%8,568.96
195964.23%8,931.22
19597-0.32%8,902.78
19598-3.70%8,573.09
195990.18%8,588.24
1959100.67%8,645.70
1959113.46%8,945.11
195912-1.49%8,812.21
19601-3.61%8,494.16
19602-1.08%8,402.58
196031.58%8,535.70
19604-0.62%8,482.39
196053.99%8,820.67
19606-2.20%8,626.96
196071.49%8,755.58
19608-2.72%8,517.36
19609-1.67%8,374.78
1960103.54%8,671.32
1960112.69%8,904.63
1960125.43%9,387.88
196114.37%9,798.52
196123.40%10,131.38
196132.92%10,427.11
196141.26%10,558.85
19615-1.08%10,444.79
19616-0.03%10,441.87
196173.84%10,842.73
19618-0.54%10,784.00
196191.34%10,928.83
1961104.77%11,450.36
1961111.16%11,583.53
196112-3.49%11,179.60
196211.91%11,393.07
196220.34%11,431.92
19623-2.94%11,095.26
19624-7.19%10,298.05
19625-11.41%9,122.76
196262.72%9,370.66
196273.02%9,653.94
19628-0.59%9,596.66
19629-2.86%9,322.55
1962107.20%9,993.85
1962114.62%10,455.94
1962124.15%10,889.52
196311.60%11,063.27
19632-0.11%11,051.29
196334.98%11,601.44
196342.27%11,864.74
196350.22%11,890.44
19636-1.22%11,745.16
196373.03%12,101.17
196382.89%12,451.33
196390.50%12,513.57
196310-0.31%12,475.21
1963112.39%12,773.78
1963123.33%13,199.18
196411.48%13,394.51
196422.07%13,671.92
196431.69%13,903.40
196441.22%14,073.07
19645-0.35%14,023.72
196463.96%14,579.20
19647-1.23%14,400.51
196481.97%14,683.55
196491.97%14,972.84
1964100.94%15,113.13
196411-1.49%14,887.89
1964122.82%15,307.85
196510.98%15,457.11
196520.34%15,508.98
196531.56%15,750.55
196541.73%16,023.45
19655-4.51%15,301.21
196560.10%15,316.96
196572.12%15,641.46
196583.60%16,203.94
196592.50%16,608.53
1965101.08%16,787.23
196511-0.21%16,751.71
1965121.98%17,083.47
19661-0.43%17,009.94
19662-3.86%16,352.96
196633.32%16,896.03
19664-5.01%16,049.95
19665-0.56%15,960.14
196660.02%15,963.08
19667-5.77%15,042.10
19668-3.22%14,557.01
19669-0.56%14,474.85
1966105.32%15,244.35
1966110.72%15,353.46
1966124.13%15,987.61
196713.73%16,583.95
196722.63%17,020.73
196731.99%17,359.86
196742.06%17,717.07
19675-0.99%17,541.35
196761.99%17,890.84
196771.85%18,222.12
196781.65%18,523.50
196790.10%18,541.54
196710-2.88%18,007.22
1967113.11%18,567.56
196712-0.02%18,564.31
19681-4.26%17,774.03
19682-1.56%17,496.90
196837.66%18,837.46
196842.56%19,319.26
196852.94%19,887.38
196860.05%19,897.11
19687-1.93%19,512.32
196883.51%20,196.75
196892.72%20,745.53
1968101.79%21,116.00
1968111.29%21,387.40
196812-3.99%20,535.09
19691-0.24%20,486.10
19692-1.91%20,094.04
196932.27%20,551.02
196943.51%21,273.08
19695-4.97%20,215.53
19696-4.21%19,365.40
19697-0.28%19,310.48
196980.63%19,431.85
196991.35%19,693.48
1969101.00%19,889.92
196911-5.03%18,889.95
196912-0.59%18,778.69
19701-3.20%18,178.50
197022.01%18,544.30
19703-2.75%18,034.76
19704-11.20%16,015.05
19705-0.27%15,971.82
197060.52%16,055.28
197073.26%16,578.01
197086.32%17,625.95
197092.49%18,064.75
1970100.21%18,102.10
1970117.16%19,397.92
1970124.11%20,195.30
197114.15%21,033.62
197122.83%21,629.26
197133.67%22,423.89
19714-1.11%22,175.46
19715-1.60%21,821.57
19716-0.46%21,720.55
19717-1.52%21,391.02
197182.49%21,922.89
19719-1.86%21,514.32
197110-4.37%20,573.81
1971117.16%22,047.64
1971124.42%23,022.70
197212.09%23,503.18
197222.62%24,118.87
197231.26%24,422.50
19724-0.78%24,233.01
197250.52%24,358.08
19726-0.50%24,235.35
197273.78%25,152.34
19728-1.21%24,847.88
197290.42%24,951.60
1972105.25%26,262.61
1972112.31%26,869.67
1972120.99%27,135.51
19731-3.33%26,233.22
19732-1.35%25,880.29
19733-1.63%25,457.59
19734-2.57%24,803.39
19735-1.99%24,309.86
197361.21%24,604.06
19737-1.64%24,201.68
197382.00%24,684.58
197394.24%25,730.05
197310-6.85%23,966.80
197311-6.81%22,335.79
1973121.70%22,715.60
19741-2.47%22,153.87
197424.57%23,167.33
19743-4.82%22,051.45
19744-2.71%21,454.81
197450.46%21,552.90
19746-11.35%19,107.33
19747-3.76%18,387.98
19748-10.01%16,546.69
197492.38%16,939.99
1974103.74%17,574.13
197411-6.09%16,503.54
1974128.63%17,928.26
1975110.81%19,865.86
197524.97%20,853.91
197531.49%21,164.02
197546.71%22,584.68
197552.89%23,238.42
197560.43%23,338.81
19757-7.00%21,705.97
19758-0.85%21,520.89
197594.97%22,590.75
1975102.04%23,051.98
197511-1.18%22,780.05
1975129.55%24,954.47
197614.18%25,997.11
197620.80%26,205.71
197631.10%26,492.78
19764-0.38%26,391.24
197650.90%26,628.91
197662.67%27,338.67
19767-0.56%27,185.40
197682.44%27,848.15
19769-3.11%26,982.57
197610-0.37%26,883.64
1976113.79%27,901.59
197612-0.54%27,751.69
19771-2.37%27,094.36
19772-0.05%27,079.68
19773-1.19%26,756.44
197740.06%26,773.70
197750.90%27,014.60
197761.28%27,361.05
19777-2.08%26,792.31
19778-1.18%26,477.41
19779-2.20%25,895.48
1977100.98%26,149.55
197711-0.08%26,128.59
197712-3.39%25,242.74
19781-0.97%24,997.38
197820.27%25,063.79
197834.83%26,274.37
197845.50%27,720.60
197850.67%27,907.31
19786-0.06%27,889.93
197877.33%29,933.74
197880.40%30,053.38
19789-2.77%29,219.85
197810-5.44%27,630.98
1978111.92%28,162.28
1978124.19%29,340.95
19791-1.06%29,030.83
197922.34%29,710.49
197932.43%30,432.73
19794-1.89%29,856.63
197952.42%30,578.45
197961.42%31,012.92
197975.01%32,568.02
197981.54%33,069.71
19799-3.35%31,961.04
197910-0.32%31,857.99
1979114.40%33,261.01
1979123.31%34,362.77
198014.40%35,873.31
19802-8.78%32,724.41
19803-1.16%32,344.14
198045.04%33,973.03
198056.86%36,304.50
198064.97%38,108.63
198073.50%39,444.22
198082.84%40,562.78
198093.32%41,911.40
1980104.61%43,845.48
198011-1.24%43,299.70
1980120.01%43,304.03
19811-3.07%41,974.52
198124.14%43,713.65
198131.29%44,279.22
19814-1.62%43,563.10
198150.86%43,936.69
19816-2.02%43,050.82
198170.80%43,396.33
19818-8.30%39,793.27
198191.73%40,480.60
1981103.04%41,712.72
1981111.18%42,204.67
198112-4.80%40,177.10
19821-1.91%39,408.15
19822-2.74%38,326.58
198235.47%40,422.78
198240.57%40,653.05
19825-5.27%38,510.38
198260.24%38,604.29
198270.79%38,910.80
1982812.10%43,617.59
198298.88%47,491.45
1982104.50%49,628.52
1982111.36%50,301.24
1982123.93%52,275.94
198312.13%53,389.42
198323.87%55,453.25
198334.20%57,780.84
198344.42%60,337.07
198351.75%61,395.09
198360.71%61,829.85
19837-2.41%60,341.49
198383.31%62,341.10
198390.65%62,745.03
198310-1.14%62,028.84
198311-0.13%61,949.37
1983121.58%62,925.65
19841-5.11%59,708.77
198420.44%59,972.90
198430.51%60,277.08
19844-0.25%60,124.84
19845-1.85%59,013.55
19846-0.91%58,477.44
198479.21%63,861.20
198481.41%64,759.71
19849-0.41%64,492.64
1984101.29%65,321.95
198411-0.71%64,859.76
1984124.70%67,906.59
198515.79%71,836.59
19852-0.48%71,492.99
198531.02%72,225.58
198542.74%74,201.41
198552.51%76,064.58
198562.25%77,773.92
19857-1.85%76,338.75
19858-1.88%74,899.77
198591.50%76,019.95
1985106.42%80,900.82
1985115.29%85,184.12
1985120.75%85,824.48
198615.70%90,714.11
198626.18%96,322.76
198632.74%98,963.37
198640.49%99,450.10
198653.13%102,566.11
19866-1.80%100,715.91
198672.28%103,013.09
19868-2.46%100,482.85
19869-0.09%100,392.54
1986103.53%103,939.36
1986111.71%105,715.62
1986126.67%112,770.42
198716.46%120,057.50
198724.38%125,311.71
19873-0.86%124,238.53
198740.17%124,453.25
198754.50%130,051.71
198763.12%134,112.05
198776.45%142,767.66
19878-3.03%138,441.19
19879-11.85%122,030.53
198710-12.30%107,016.61
198711-1.33%105,588.26
1987124.25%110,072.11
198813.33%113,735.94
198823.23%117,411.95
19883-0.89%116,371.65
19884-2.19%113,825.13
198856.00%120,652.59
19886-0.31%120,282.28
19887-1.72%118,215.25
198881.93%120,493.45
198893.80%125,074.15
198810-2.02%122,547.34
1988112.33%125,397.74
1988123.51%129,802.53
198913.30%134,085.82
19892-0.16%133,869.06
198933.56%138,641.23
198944.12%144,346.73
198953.39%149,243.87
198962.80%153,422.96
198974.69%160,619.65
198980.46%161,351.33
198990.29%161,813.21
198910-1.81%158,878.65
1989112.74%163,226.69
198912-2.21%159,617.38
19901-2.53%155,583.55
199022.71%159,795.46
199030.20%160,108.64
199043.85%166,274.30
199053.17%171,545.12
199060.17%171,836.28
19907-7.86%158,327.84
19908-4.34%151,454.73
19909-2.32%147,947.39
1990102.98%152,361.86
1990114.59%159,350.10
199012-0.69%158,258.28
1991111.61%176,626.96
199123.04%182,004.58
199132.26%186,115.75
19914-0.18%185,782.83
199150.35%186,427.52
199160.78%187,882.56
199172.68%192,915.81
19918-0.30%192,331.08
199190.18%192,680.44
1991100.02%192,710.88
1991110.94%194,512.99
1991127.36%208,825.31
19921-0.60%207,570.59
19922-1.01%205,469.19
199230.26%206,012.25
199242.07%210,273.31
19925-1.33%207,478.52
199261.91%211,445.78
199270.94%213,437.01
199280.38%214,244.20
19929-1.18%211,711.72
1992102.76%217,548.40
1992113.27%224,664.85
1992120.14%224,985.88
199311.72%228,865.19
199322.15%233,786.14
19933-1.34%230,649.33
199340.72%232,320.90
199350.87%234,330.90
199360.06%234,473.85
199371.76%238,606.37
199381.35%241,839.42
199391.24%244,842.84
1993100.01%244,861.31
1993110.89%247,033.67
1993121.74%251,321.88
19941-0.08%251,131.63
19942-1.42%247,555.97
19943-3.35%239,271.81
199441.06%241,803.89
199451.11%244,483.30
19946-0.52%243,214.74
199473.08%250,710.80
199480.82%252,760.28
19949-0.44%251,638.01
199410-0.37%250,707.24
199411-1.03%248,135.72
1994122.45%254,217.96
199513.82%263,926.78
199522.56%270,678.47
199533.22%279,382.28
199543.35%288,735.33
199553.18%297,912.56
199563.55%308,480.95
199570.51%310,063.84
199583.72%321,590.97
199590.91%324,525.71
1995102.36%332,179.27
1995113.39%343,437.29
1995120.16%343,995.65
199615.90%364,306.50
19962-0.20%363,575.35
199630.20%364,291.75
199642.35%372,870.18
199651.28%377,637.67
19966-3.48%364,508.86
199673.08%375,720.25
199682.02%383,323.80
199694.12%399,114.82
1996105.05%419,278.42
1996111.20%424,302.33
1996123.26%438,124.15
199714.36%457,231.46
19972-0.62%454,379.78
19973-3.41%438,907.02
199749.22%479,364.73
199755.34%504,947.59
199765.74%533,911.00
199770.35%535,767.89
199781.19%542,154.28
199791.65%551,074.76
199710-1.15%544,726.14
1997112.63%559,077.58
1997120.24%560,403.09
199816.40%596,280.99
199825.31%627,960.63
199833.41%649,346.93
19984-0.22%647,906.31
199850.12%648,660.84
199864.47%677,640.84
19987-6.97%630,402.45
19988-4.90%599,522.50
199891.29%607,261.48
19981010.97%673,904.69
1998114.10%701,562.44
1998125.05%736,975.12
19991-0.07%736,483.48
199922.92%758,014.65
199934.25%790,230.44
19994-0.10%789,449.44
19995-0.61%784,619.85
199964.52%820,103.40
19997-3.77%789,149.53
19998-0.60%784,430.28
19999-1.27%774,448.64
1999107.11%829,480.57
1999112.81%852,778.44
199912-0.12%851,764.21
20001-2.48%830,656.83
200023.94%863,392.63
200031.42%875,693.09
20004-2.84%850,833.97
200053.16%877,749.93
200060.85%885,213.81
200070.94%893,532.26
20008-1.08%883,885.24
20009-5.21%837,797.43
200010-0.77%831,324.91
200011-3.32%803,724.31
2000120.46%807,381.32
20011-2.14%790,133.57
20012-9.08%718,390.21
200130.45%721,613.58
200146.88%771,255.78
20015-2.39%752,833.16
20016-2.66%732,806.09
20017-2.05%717,814.05
20018-11.25%637,079.18
200193.18%657,363.98
2001105.05%690,581.54
2001111.47%700,705.81
200112-0.30%698,619.88
20021-3.35%675,196.77
200224.95%708,587.08
20023-3.51%683,684.26
20024-2.82%664,401.83
20025-5.92%625,062.87
20026-10.76%557,815.49
200271.14%564,167.84
20028-4.76%537,326.26
20029-1.37%529,980.78
2002106.63%565,095.06
200211-1.04%559,245.98
200212-0.22%558,001.56
20031-6.41%522,206.67
200321.31%529,036.61
200335.29%557,000.73
200345.31%586,589.79
200355.70%620,049.96
200360.60%623,744.84
20037-0.17%622,707.40
200383.16%642,392.31
200392.03%655,418.93
2003101.21%663,353.34
2003113.06%683,677.23
2003124.93%717,416.43
200411.09%725,212.33
20042-1.57%713,861.33
200430.97%720,772.48
20044-2.56%702,290.05
200452.86%722,359.23
20046-2.24%706,187.20
20047-1.39%696,388.36
200482.78%715,766.23
200490.10%716,500.57
2004104.77%750,705.57
2004112.73%771,180.66
200412-1.35%760,775.73
200511.68%773,565.94
20052-0.26%771,588.80
20053-2.41%753,001.85
200541.34%763,060.98
200552.18%779,701.04
200561.81%793,796.40
200570.31%796,257.31
200580.28%798,484.37
20059-2.62%777,530.39
2005103.96%808,332.58
2005112.14%825,664.29
2005121.47%837,774.89
20061-0.02%837,635.48
200621.49%850,083.90
200630.80%856,870.39
20064-0.79%850,129.94
20065-2.71%827,127.18
200660.72%833,082.84
200672.29%852,175.09
200682.53%873,745.12
200693.62%905,338.98
2006102.00%923,460.64
2006112.15%943,299.02
2006120.69%949,834.45
200711.60%964,994.26
20072-2.47%941,121.35
200734.18%980,462.67
200743.39%1,013,717.55
200750.34%1,017,213.87
200760.57%1,023,058.98
20077-4.20%980,079.17
200783.07%1,010,214.09
200792.99%1,040,435.99
200710-4.81%990,429.41
2007111.24%1,002,693.11
200712-6.64%936,162.45
20081-1.56%921,521.19
20082-2.63%897,316.18
200834.24%935,396.51
200842.56%959,367.02
20085-4.25%918,626.71
20086-6.08%862,788.25
200872.11%880,997.69
20088-4.85%838,291.01
20089-20.19%669,010.00
200810-8.61%611,439.36
200811-0.35%609,291.88
200812-1.10%602,616.75
20091-6.70%562,226.32
20092-5.69%530,250.06
2009312.32%595,586.14
200946.66%635,251.12
200952.87%653,475.59
200961.28%661,824.67
200978.12%715,569.76
200983.65%741,690.52
200992.40%759,514.14
2009102.09%775,420.84
2009112.23%792,680.60
2009121.36%803,437.03
20101-2.90%780,149.62
201025.94%826,514.19
201034.09%860,301.51
20104-5.88%809,695.16
20105-3.54%781,003.10
20106-0.16%779,760.73
201070.86%786,494.84
201083.37%813,008.79
201094.58%850,223.75
2010102.49%871,402.10
2010113.71%903,763.67
2010123.46%935,053.72
201113.15%964,515.99
20112-1.11%953,786.13
201132.22%974,969.55
201140.66%981,396.89
20115-3.66%945,452.25
201163.10%974,777.68
20117-10.40%873,394.49
20118-0.79%866,501.27
201193.02%892,660.13
2011101.77%908,434.53
2011111.55%922,558.42
2011124.78%966,680.31
201214.16%1,006,919.43
201222.88%1,035,957.35
20123-0.04%1,035,561.51
20124-3.09%1,003,552.79
20125-1.15%991,987.74
201262.92%1,020,964.56
201273.39%1,055,551.79
201283.02%1,087,441.76
20129-0.22%1,085,080.55
201210-2.84%1,054,291.45
2012112.18%1,077,227.93
2012124.27%1,123,212.22
201312.33%1,149,417.01
201322.72%1,180,709.36
201331.45%1,197,874.41
201344.57%1,252,668.42
20135-1.12%1,238,666.40
201363.25%1,278,978.52
201370.25%1,282,208.30
201381.19%1,297,498.22
201392.12%1,324,973.39
2013103.86%1,376,117.28
2013111.52%1,397,057.13
2013120.97%1,410,577.96
20141-0.13%1,408,743.70
201422.72%1,447,093.50
201430.20%1,450,012.63
201441.53%1,472,227.33
201453.20%1,519,284.39
201461.50%1,542,010.18
20147-0.43%1,535,426.56
201481.78%1,562,726.96
20149-2.65%1,521,368.09
2014105.71%1,608,172.06
2014110.63%1,618,366.06
201412-1.11%1,600,401.46
201512.83%1,645,651.18
201520.06%1,646,562.27
201530.88%1,661,025.83
201540.98%1,677,285.68
20155-0.44%1,669,981.10
20156-0.08%1,668,651.29
20157-2.42%1,628,196.55
20158-4.51%1,554,812.18
201594.32%1,621,935.28
2015102.93%1,669,498.04
201511-1.10%1,651,083.98
201512-6.42%1,545,090.63
20161-0.55%1,536,594.04
201626.36%1,634,363.33
201632.83%1,680,636.41
20164-0.30%1,675,521.14
201651.07%1,693,390.41
201663.30%1,749,228.92
201671.20%1,770,206.67
20168-0.44%1,762,441.28
20169-0.51%1,753,523.67
2016101.20%1,774,586.30
2016113.95%1,844,610.84
2016121.44%1,871,129.60
201712.58%1,919,338.23
201721.75%1,952,912.39
20173-0.15%1,949,904.82
201741.69%1,982,904.49
201751.78%2,018,129.36
201760.99%2,038,066.14
201770.25%2,043,116.58
201781.65%2,076,894.67
201792.73%2,133,693.56
2017101.59%2,167,610.09
2017112.88%2,230,112.83
2017124.86%2,338,538.65
20181-2.89%2,271,032.37
201820.06%2,272,498.97
20183-1.66%2,234,685.22
201841.96%2,278,521.28
201852.11%2,326,665.75
201861.58%2,363,444.33
201872.45%2,421,367.74
201881.68%2,462,040.61
20189-3.85%2,367,277.00
201810-2.08%2,318,129.77
201811-5.56%2,189,183.52
2018121.74%2,227,179.79
201915.83%2,356,999.92
201921.95%2,402,914.80
201933.72%2,492,380.60
20194-1.53%2,454,202.60
201951.40%2,488,677.99
201963.83%2,583,928.25
20197-3.13%2,502,937.24
201983.09%2,580,158.55
201990.01%2,580,411.47
2019104.43%2,694,818.98
2019112.47%2,761,362.68
2019123.35%2,853,768.85
202010.12%2,857,252.64
20202-18.92%2,316,725.90
202034.32%2,416,776.36
202045.89%2,559,060.81
202056.51%2,725,611.45
202063.48%2,820,365.55
202075.89%2,986,583.94
20208-0.63%2,967,857.98
202091.73%3,019,083.24
2020103.95%3,138,461.32
2020114.26%3,272,162.29
2020122.80%3,363,629.04
202112.49%3,447,434.82
202120.82%3,475,750.59
202136.02%3,685,042.42
202140.76%3,713,057.28
202151.81%3,780,279.31
202163.07%3,896,265.90
202172.19%3,981,405.62
20218-0.08%3,978,041.37
202190.45%3,996,029.13
2021104.74%4,185,630.48
2021110.27%4,196,739.30
202112-2.05%4,110,624.18
20221-2.90%3,991,310.44
20222-0.89%3,955,684.66
202230.12%3,960,364.31
20224-7.87%3,648,575.51
20225-3.37%3,525,640.96
202260.46%3,542,024.09
202276.45%3,770,392.34
20228-7.28%3,496,005.65
20229-3.09%3,387,937.99
2022101.19%3,428,399.06
Click to show 1314 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 1912. This would result in a final amount of $3,296,757.13, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $3,428,399.06).

YearMonthContribution ($)Amount ($)
191214.164.12
191224.168.54
191234.1613.13
191244.1617.33
191254.1621.56
191264.1625.84
191274.1630.79
191284.1635.25
191294.1639.48
1912104.1643.31
1912114.1645.94
1912124.1649.87
191314.1652.32
191324.1655.65
191334.1659.99
191344.1662.67
191354.1663.76
191364.1669.16
191374.1675.62
191384.1680.89
191394.1682.74
1913104.1685.09
1913114.1689.56
1913124.3298.18
19141-99.93
19142-98.51
19143-96.60
19144-97.65
19145-97.63
19146-92.67
19147-93.12
19148-93.56
19149-94.01
191410-94.44
191411-90.82
191412-92.86
19151-92.05
19152-94.86
19153-102.45
19154-100.50
19155-102.08
19156-102.15
19157-106.94
19158-111.37
19159-118.00
191510-122.59
191511-123.31
191512-121.83
19161-120.61
19162-120.71
19163-119.90
19164-123.07
19165-124.80
19166-123.61
19167-125.12
19168-130.81
19169-135.46
191610-139.19
191611-134.22
191612-131.71
19171-124.93
19172-129.48
19173-128.22
19174-124.58
19175-127.84
19176-125.04
19177-122.09
19178-116.99
19179-111.44
191710-102.97
191711-100.28
191712-107.18
19181-111.29
19182-109.88
19183-109.65
19184-113.98
19185-114.95
19186-116.68
19187-118.57
19188-118.74
19189-124.57
191810-128.52
191811-126.74
191812-126.70
19191-127.94
19192-132.60
19193-137.77
19194-148.06
19195-152.78
19196-158.52
19197-148.61
19198-151.71
19199-160.22
191910-156.24
191911-152.40
191912-151.62
19201-139.84
19202-150.44
19203-149.98
19204-141.33
19205-139.63
19206-140.22
19207-135.49
19208-141.07
19209-142.02
192010-135.58
192011-124.21
192012-130.46
19211-130.31
19212-127.76
19213-129.09
19214-133.78
19215-123.84
19216-124.22
19217-123.46
19218-127.29
19219-129.78
192110-137.51
192111-143.13
192112-143.69
19221-147.60
19222-153.91
19223-164.04
19224-171.22
19225-170.42
19226-172.45
19227-179.76
19228-185.28
19229-190.22
192210-181.62
192211-182.08
192212-185.45
19231-194.26
19232-198.29
19233-192.26
19234-184.08
19235-177.99
19236-172.94
19237-174.73
19238-176.75
19239-175.10
192310-181.29
192311-188.39
192312-195.53
19241-197.40
19242-194.61
19243-191.13
19244-191.46
19245-196.09
19246-206.20
19247-214.31
19248-213.29
19249-211.57
192410-224.44
192411-237.61
192412-248.51
19251-251.71
19252-246.20
19253-244.70
19254-253.68
19255-259.36
19256-267.72
19257-272.50
19258-279.97
19259-290.41
192510-300.65
192511-306.77
192512-312.68
19261-314.43
19262-294.36
19263-287.42
19264-290.74
19265-305.91
19266-320.15
19267-334.21
19268-340.71
19269-334.46
192610-340.27
192611-349.48
192612-348.64
19271-356.91
19272-363.93
19273-374.40
19274-388.89
19275-395.51
19276-405.89
19277-429.13
19278-455.15
19279-449.84
192710-461.79
192711-474.34
192712-477.98
19281-474.02
19282-501.26
19283-534.66
19284-553.02
19285-527.77
19286-533.53
19287-552.69
19288-593.45
19289-607.44
192810-650.46
192811-654.98
192812-705.37
19291-711.09
19292-725.67
19293-723.48
19294-736.48
19295-752.70
19296-821.95
19297-870.91
19298-907.88
19299-814.14
192910-600.91
192911-627.19
192912-638.64
19301-681.03
19302-709.10
19303-756.53
19304-713.77
19305-644.04
19306-632.70
19307-627.04
19308-629.19
19309-545.06
193010-508.00
193011-476.56
193012-493.51
19311-533.68
19312-546.38
19313-496.77
19314-451.27
19315-439.18
19316-456.12
19317-444.79
19318-380.88
19319-332.31
193110-339.14
193111-277.76
193112-275.40
19321-275.27
19322-278.41
19323-213.75
19324-189.57
19325-166.08
19326-176.35
19327-266.91
19328-294.57
19329-255.64
193210-254.78
193211-248.06
193212-259.39
19331-230.17
19332-230.94
19333-256.90
19334-332.22
19335-390.63
19336-423.69
19337-404.02
19338-402.06
19339-364.36
193310-374.57
193311-383.27
193312-406.59
19341-438.09
19342-417.07
19343-425.49
19344-383.68
19345-390.21
19346-373.22
19347-360.10
19348-352.87
19349-357.13
193410-368.60
193411-372.50
193412-374.01
19351-364.22
19352-342.62
19353-369.81
19354-400.38
19355-417.09
19356-440.45
19357-471.74
19358-483.22
19359-497.65
193510-545.97
193511-547.58
193512-579.46
19361-614.41
19362-629.22
19363-631.83
19364-600.12
19365-627.57
19366-666.69
19367-682.01
19368-691.86
19369-730.26
193610-752.91
193611-742.37
193612-768.04
19371-793.40
19372-795.23
19373-750.50
19374-719.83
19375-695.80
19376-740.29
19377-750.93
19378-647.58
19379-556.28
193710-510.31
193711-505.10
193712-521.45
19381-512.05
19382-481.23
19383-464.66
19384-471.89
19385-485.74
19386-585.25
19387-591.44
19388-567.28
19389-633.18
193810-636.13
193811-619.91
193812-612.70
19391-609.90
19392-611.52
19393-536.67
19394-558.65
19395-570.78
19396-586.97
19397-580.70
19398-644.90
19399-653.83
193910-644.62
193911-631.90
193912-630.96
19401-629.52
19402-628.61
19403-637.53
19404-552.48
19405-507.76
19406-527.41
19407-541.38
19408-567.14
19409-575.45
194010-591.85
194011-570.61
194012-574.72
19411-541.82
19412-548.20
19413-534.24
19414-525.76
19415-547.35
19416-578.61
19417-579.05
19418-584.04
19419-563.99
194110-540.96
194111-509.14
194112-522.46
19421-509.51
19422-485.24
19423-468.48
19424-477.25
19425-504.68
19426-526.79
19427-527.03
19428-535.79
19429-578.49
194210-590.95
194211-597.19
194212-636.03
19431-676.95
19432-704.13
19433-730.79
19434-762.68
19435-779.30
19436-798.57
19437-762.33
19438-781.79
19439-777.88
194310-745.15
194311-758.34
194312-786.14
19441-784.23
19442-809.64
19443-799.04
19444-816.65
19445-858.64
19446-884.57
19447-875.23
19448-864.51
19449-889.43
194410-886.91
194411-909.97
194412-940.76
19451-975.88
19452-978.96
19453-1,007.36
19454-1,049.28
19455-1,072.23
19456-1,054.05
19457-1,061.50
19458-1,137.71
19459-1,189.06
194510-1,231.94
194511-1,256.88
194512-1,310.91
19461-1,318.59
19462-1,283.28
19463-1,370.15
19464-1,377.25
19465-1,372.59
19466-1,337.62
19467-1,315.90
19468-1,126.12
19469-1,105.03
194610-1,104.89
194611-1,142.39
194612-1,152.90
19471-1,202.13
19472-1,157.98
19473-1,119.78
19474-1,104.53
19475-1,147.84
19476-1,224.67
19477-1,205.58
19478-1,179.45
19479-1,215.15
194710-1,206.28
194711-1,192.74
194712-1,182.43
19481-1,129.83
19482-1,151.50
19483-1,245.79
19484-1,312.19
19485-1,372.38
19486-1,345.52
19487-1,312.04
19488-1,303.15
19489-1,344.70
194810-1,276.10
194811-1,274.09
194812-1,294.85
19491-1,251.76
19492-1,270.43
19493-1,275.68
19494-1,273.35
19495-1,210.79
19496-1,286.63
19497-1,340.29
19498-1,365.37
19499-1,408.27
194910-1,435.69
194911-1,482.23
194912-1,521.21
19501-1,559.59
19502-1,581.04
19503-1,634.57
19504-1,698.56
19505-1,735.32
19506-1,618.65
19507-1,726.09
19508-1,797.01
19509-1,881.85
195010-1,888.93
195011-1,892.60
195012-2,044.25
19511-2,132.33
19512-2,108.61
19513-2,149.23
19514-2,162.74
19515-2,137.98
19516-2,188.57
19517-2,297.24
19518-2,369.28
19519-2,369.95
195110-2,316.55
195111-2,400.25
195112-2,492.27
19521-2,459.07
19522-2,477.51
19523-2,482.54
19524-2,493.95
19525-2,574.88
19526-2,661.57
19527-2,685.01
19528-2,655.24
19529-2,612.47
195210-2,708.28
195211-2,830.39
195212-2,858.38
19531-2,836.27
19532-2,863.42
19533-2,735.34
19534-2,762.77
19535-2,676.91
19536-2,728.14
19537-2,752.66
19538-2,639.61
19539-2,732.44
195310-2,806.44
195311-2,857.99
195312-2,944.41
19541-3,023.21
19542-3,101.29
19543-3,239.31
19544-3,382.57
19545-3,423.94
19546-3,576.55
19547-3,662.19
19548-3,762.52
19549-3,864.51
195410-4,030.77
195411-4,230.43
195412-4,322.17
19551-4,482.29
19552-4,462.73
19553-4,632.68
19554-4,629.03
19555-4,913.49
19556-5,289.09
19557-5,273.25
19558-5,527.24
19559-5,266.08
195510-5,638.19
195511-5,707.95
195512-5,571.65
19561-5,624.55
19562-6,029.86
19563-6,119.27
19564-5,945.58
19565-5,930.00
19566-6,270.91
19567-6,253.05
19568-6,059.91
19569-6,002.12
195610-5,959.35
195611-6,067.16
195612-5,954.15
19571-5,716.23
19572-5,808.87
19573-5,962.46
19574-6,210.51
19575-6,331.87
19576-6,478.90
19577-6,141.67
19578-5,912.00
19579-5,563.40
195710-5,463.23
195711-5,480.61
195712-5,608.23
19581-5,647.60
19582-5,784.21
19583-5,836.06
19584-6,043.70
19585-6,209.01
19586-6,399.67
19587-6,659.13
19588-6,855.16
19589-7,153.98
195810-7,391.94
195811-7,551.78
195812-7,873.09
19591-7,773.49
19592-7,991.63
19593-8,146.38
19594-8,290.20
19595-8,239.94
19596-8,588.29
19597-8,560.93
19598-8,243.90
19599-8,258.47
195910-8,313.73
195911-8,601.64
195912-8,473.84
19601-8,168.00
19602-8,079.94
19603-8,207.95
19604-8,156.68
19605-8,481.98
19606-8,295.71
19607-8,419.38
19608-8,190.31
19609-8,053.21
196010-8,338.36
196011-8,562.72
196012-9,027.41
19611-9,422.28
19612-9,742.36
19613-10,026.74
19614-10,153.41
19615-10,043.74
19616-10,040.93
19617-10,426.40
19618-10,369.92
19619-10,509.19
196110-11,010.69
196111-11,138.75
196112-10,750.33
19621-10,955.60
19622-10,992.96
19623-10,669.23
19624-9,902.63
19625-8,772.47
19626-9,010.85
19627-9,283.25
19628-9,228.17
19629-8,964.58
196210-9,610.11
196211-10,054.46
196212-10,471.39
19631-10,638.47
19632-10,626.94
19633-11,155.97
19634-11,409.16
19635-11,433.88
19636-11,294.17
19637-11,636.51
19638-11,973.23
19639-12,033.08
196310-11,996.19
196311-12,283.30
196312-12,692.36
19641-12,880.20
19642-13,146.95
19643-13,369.54
19644-13,532.70
19645-13,485.24
19646-14,019.40
19647-13,847.57
19648-14,119.73
19649-14,397.92
196410-14,532.82
196411-14,316.23
196412-14,720.06
19651-14,863.59
19652-14,913.47
19653-15,145.77
19654-15,408.19
19655-14,713.68
19656-14,728.82
19657-15,040.87
19658-15,581.75
19659-15,970.80
196510-16,142.64
196511-16,108.48
196512-16,427.51
19661-16,356.80
19662-15,725.04
19663-16,247.27
19664-15,433.67
19665-15,347.32
19666-15,350.14
19667-14,464.52
19668-13,998.06
19669-13,919.06
196610-14,659.00
196611-14,763.93
196612-15,373.72
19671-15,947.17
19672-16,367.17
19673-16,693.28
19674-17,036.78
19675-16,867.80
19676-17,203.88
19677-17,522.44
19678-17,812.24
19679-17,829.59
196710-17,315.79
196711-17,854.61
196712-17,851.49
19681-17,091.56
19682-16,825.06
19683-18,114.15
19684-18,577.45
19685-19,123.76
19686-19,133.11
19687-18,763.10
19688-19,421.25
19689-19,948.96
196810-20,305.19
196811-20,566.18
196812-19,746.59
19691-19,699.48
19692-19,322.48
19693-19,761.92
19694-20,456.25
19695-19,439.30
19696-18,621.82
19697-18,569.00
19698-18,685.71
19699-18,937.30
196910-19,126.19
196911-18,164.63
196912-18,057.63
19701-17,480.49
19702-17,832.25
19703-17,342.27
19704-15,400.11
19705-15,358.54
19706-15,438.80
19707-15,941.46
19708-16,949.16
19709-17,371.11
197010-17,407.03
197011-18,653.08
197012-19,419.85
19711-20,225.98
19712-20,798.75
19713-21,562.87
19714-21,323.98
19715-20,983.68
19716-20,886.53
19717-20,569.66
19718-21,081.11
19719-20,688.22
197110-19,783.83
197111-21,201.06
197112-22,138.69
19721-22,600.72
19722-23,192.77
19723-23,484.74
19724-23,302.53
19725-23,422.79
19726-23,304.77
19727-24,186.55
19728-23,893.78
19729-23,993.52
197210-25,254.19
197211-25,837.95
197212-26,093.58
19731-25,225.93
19732-24,886.56
19733-24,480.08
19734-23,851.00
19735-23,376.42
19736-23,659.33
19737-23,272.40
19738-23,736.75
19739-24,742.08
197310-23,046.54
197311-21,478.16
197312-21,843.38
19741-21,303.22
19742-22,277.77
19743-21,204.73
19744-20,631.00
19745-20,725.33
19746-18,373.66
19747-17,681.93
19748-15,911.34
19749-16,289.54
197410-16,899.33
197411-15,869.85
197412-17,239.86
19751-19,103.06
19752-20,053.18
19753-20,351.37
19754-21,717.49
19755-22,346.13
19756-22,442.66
19757-20,872.52
19758-20,694.54
19759-21,723.32
197510-22,166.84
197511-21,905.36
197512-23,996.28
19761-24,998.88
19762-25,199.47
19763-25,475.52
19764-25,377.88
19765-25,606.43
19766-26,288.93
19767-26,141.55
19768-26,778.85
19769-25,946.51
197610-25,851.38
197611-26,830.24
197612-26,686.10
19771-26,054.01
19772-26,039.89
19773-25,729.06
19774-25,745.66
19775-25,977.31
19776-26,310.45
19777-25,763.56
19778-25,460.75
19779-24,901.16
197710-25,145.47
197711-25,125.32
197712-24,273.48
19781-24,037.55
19782-24,101.41
19783-25,265.50
19784-26,656.20
19785-26,835.74
19786-26,819.02
19787-28,784.36
19788-28,899.41
19789-28,097.88
197810-26,570.02
197811-27,080.92
197812-28,214.33
19791-27,916.12
19792-28,569.68
19793-29,264.18
19794-28,710.21
19795-29,404.32
19796-29,822.11
19797-31,317.49
19798-31,799.92
19799-30,733.82
197910-30,634.72
197911-31,983.87
197912-33,043.33
19801-34,495.86
19802-31,467.88
19803-31,102.20
19804-32,668.55
19805-34,910.49
19806-36,645.36
19807-37,929.66
19808-39,005.27
19809-40,302.11
198010-42,161.93
198011-41,637.10
198012-41,641.26
19811-40,362.80
19812-42,035.16
19813-42,579.00
19814-41,890.39
19815-42,249.63
19816-41,397.78
19817-41,730.02
19818-38,265.31
19819-38,926.24
198110-40,111.05
198111-40,584.11
198112-38,634.40
19821-37,894.98
19822-36,854.94
19823-38,870.65
19824-39,092.07
19825-37,031.68
19826-37,121.98
19827-37,416.72
19828-41,942.79
19829-45,667.89
198210-47,722.91
198211-48,369.79
198212-50,268.67
19831-51,339.40
19832-53,323.99
19833-55,562.20
19834-58,020.28
19835-59,037.67
19836-59,455.73
19837-58,024.52
19838-59,947.36
19839-60,335.78
198310-59,647.09
198311-59,570.66
198312-60,509.46
19841-57,416.11
19842-57,670.09
19843-57,962.60
19844-57,816.20
19845-56,747.58
19846-56,232.06
19847-61,409.09
19848-62,273.10
19849-62,016.28
198410-62,813.75
198411-62,369.31
198412-65,299.15
19851-69,078.25
19852-68,747.83
19853-69,452.30
19854-71,352.26
19855-73,143.89
19856-74,787.60
19857-73,407.54
19858-72,023.81
19859-73,100.97
198510-77,794.43
198511-81,913.27
198512-82,529.03
19861-87,230.91
19862-92,624.20
19863-95,163.43
19864-95,631.47
19865-98,627.83
19866-96,848.67
19867-99,057.65
19868-96,624.56
19869-96,537.72
198610-99,948.35
198611-101,656.41
198612-108,440.32
19871-115,447.60
19872-120,500.05
19873-119,468.08
19874-119,674.56
19875-125,058.05
19876-128,962.48
19877-137,285.74
19878-133,125.39
19879-117,344.86
198710-102,907.44
198711-101,533.94
198712-105,845.62
19881-109,368.76
19882-112,903.62
19883-111,903.27
19884-109,454.53
19885-116,019.83
19886-115,663.74
19887-113,676.08
19888-115,866.81
19889-120,271.62
198810-117,841.83
198811-120,582.78
198812-124,818.44
19891-128,937.26
19892-128,728.83
19893-133,317.75
19894-138,804.18
19895-143,513.28
19896-147,531.90
19897-154,452.26
19898-155,155.85
19899-155,599.99
198910-152,778.10
198911-156,959.19
198912-153,488.47
19901-149,609.53
19902-153,659.71
19903-153,960.87
19904-159,889.78
19905-164,958.22
19906-165,238.19
19907-152,248.44
19908-145,639.25
19909-142,266.58
199010-146,511.55
199011-153,231.46
199012-152,181.56
19911-169,844.93
19912-175,016.06
19913-178,969.38
19914-178,649.24
19915-179,269.17
19916-180,668.34
19917-185,508.32
19918-184,946.05
19919-185,281.99
199110-185,311.26
199111-187,044.18
199112-200,806.94
19921-199,600.40
19922-197,579.69
19923-198,101.90
19924-202,199.34
19925-199,511.86
19926-203,326.80
19927-205,241.56
19928-206,017.76
19929-203,582.52
199210-209,195.09
199211-216,038.28
199212-216,346.98
19931-220,077.34
19932-224,809.34
19933-221,792.97
19934-223,400.36
19935-225,333.18
19936-225,470.64
19937-229,444.48
19938-232,553.39
19939-235,441.49
199310-235,459.25
199311-237,548.20
199312-241,671.75
19941-241,488.80
19942-238,050.44
19943-230,084.38
19944-232,519.22
19945-235,095.75
19946-233,875.90
19947-241,084.14
19948-243,054.92
19949-241,975.74
199410-241,080.71
199411-238,607.93
199412-244,456.62
19951-253,792.65
19952-260,285.10
19953-268,654.70
19954-277,648.62
19955-286,473.46
19956-296,636.05
19957-298,158.16
19958-309,242.68
19959-312,064.73
199510-319,424.42
199511-330,250.15
199512-330,787.07
19961-350,318.05
19962-349,614.97
19963-350,303.86
19964-358,552.90
19965-363,137.33
19966-350,512.63
19967-361,293.53
19968-368,605.13
19969-383,789.81
199610-403,179.18
199611-408,010.18
199612-421,301.28
19971-439,674.92
19972-436,932.73
19973-422,054.09
19974-460,958.33
19975-485,558.87
19976-513,410.16
19977-515,195.74
19978-521,336.92
19979-529,914.87
199710-523,810.02
199711-537,610.41
199712-538,885.02
19981-573,385.29
19982-603,848.52
19983-624,413.64
19984-623,028.33
19985-623,753.89
19986-651,621.13
19987-606,196.58
19988-576,502.34
19989-583,944.16
199810-648,028.43
199811-674,624.20
199812-708,677.12
19991-708,204.36
19992-728,908.78
19993-759,887.57
19994-759,136.56
19995-754,492.41
19996-788,613.48
19997-758,848.16
19998-754,310.13
19999-744,711.75
199910-797,630.59
199911-820,033.88
199912-819,058.60
20001-798,761.69
20002-830,240.52
20003-842,068.67
20004-818,164.07
20005-844,046.53
20006-851,223.82
20007-859,222.86
20008-849,946.26
20009-805,628.11
200010-799,404.11
200011-772,863.31
200012-776,379.89
20011-759,794.42
20012-690,805.82
20013-693,905.42
20014-741,641.49
20015-723,926.25
20016-704,668.17
20017-690,251.79
20018-612,616.93
20019-632,122.85
200110-664,064.94
200111-673,800.46
200112-671,794.63
20021-649,270.90
20022-681,379.11
20023-657,432.50
20024-638,890.46
20025-601,062.02
20026-536,396.77
20027-542,505.21
20028-516,694.27
20029-509,630.84
200210-543,396.82
200211-537,772.33
200212-536,575.70
20031-502,155.25
20032-508,722.93
20033-535,613.30
20034-564,066.21
20035-596,241.59
20036-599,794.60
20037-598,797.00
20038-617,726.05
20039-630,252.48
200310-637,882.23
200311-657,425.73
200312-689,869.44
20041-697,365.99
20042-686,450.84
20043-693,096.63
20044-675,323.87
20045-694,622.45
20046-679,071.38
20047-669,648.79
20048-688,282.60
20049-688,988.75
200410-721,880.35
200411-741,569.26
200412-731,563.85
20051-743,862.95
20052-741,961.72
20053-724,088.47
20054-733,761.35
20055-749,762.47
20056-763,316.61
20057-765,683.03
20058-767,824.57
20059-747,675.17
200510-777,294.63
200511-793,960.85
200512-805,606.43
20061-805,472.38
20062-817,442.81
20063-823,968.71
20064-817,487.08
20065-795,367.57
20066-801,094.54
20067-819,453.70
20068-840,195.50
20069-870,576.23
200610-888,002.06
200611-907,078.70
200612-913,363.18
20071-927,940.90
20072-904,984.65
20073-942,815.36
20074-974,793.33
20075-978,155.41
20076-983,776.08
20077-942,446.59
20078-971,424.40
20079-1,000,485.85
200710-952,399.40
200711-964,192.21
200712-900,216.15
20081-886,137.08
20082-862,861.49
20083-899,479.62
20084-922,529.73
20085-883,353.75
20086-829,659.34
20087-847,169.59
20088-806,102.74
20089-643,321.70
200810-587,961.62
200811-585,896.60
200812-579,477.77
20091-540,638.24
20092-509,889.78
20093-572,717.13
20094-610,859.07
20095-628,383.76
20096-636,412.26
20097-688,093.68
20098-713,211.46
20099-730,350.70
200910-745,646.62
200911-762,243.65
200912-772,587.06
20101-750,193.83
20102-794,778.11
20103-827,268.09
20104-778,604.90
20105-751,014.53
20106-749,819.87
20107-756,295.40
20108-781,791.29
20109-817,577.29
201010-837,942.44
201011-869,061.41
201012-899,150.00
20111-927,480.99
20112-917,163.13
20113-937,533.16
20114-943,713.71
20115-909,149.25
20116-937,348.65
20117-839,858.33
20118-833,229.79
20119-858,384.21
201110-873,552.91
201111-887,134.49
201112-929,562.21
20121-968,256.25
20122-996,179.18
20123-995,798.54
20124-965,018.88
20125-953,897.90
20126-981,762.08
20127-1,015,021.24
20128-1,045,686.72
20129-1,043,416.17
201210-1,013,809.30
201211-1,035,865.08
201212-1,080,083.69
20131-1,105,282.28
20132-1,135,373.08
20133-1,151,879.03
20134-1,204,569.09
20135-1,191,104.72
20136-1,229,868.95
20137-1,232,974.71
20138-1,247,677.53
20139-1,274,097.73
201310-1,323,277.83
201311-1,343,413.64
201312-1,356,415.30
20141-1,354,651.47
20142-1,391,528.73
20143-1,394,335.78
20144-1,415,697.49
20145-1,460,947.68
20146-1,482,800.85
20147-1,476,470.02
20148-1,502,722.16
20149-1,462,951.36
201410-1,546,422.28
201411-1,556,224.86
201412-1,538,950.05
20151-1,582,462.30
20152-1,583,338.40
20153-1,597,246.60
20154-1,612,882.11
20155-1,605,858.01
20156-1,604,579.26
20157-1,565,677.88
20158-1,495,111.28
20159-1,559,657.02
201510-1,605,393.50
201511-1,587,686.49
201512-1,485,763.02
20161-1,477,592.68
20162-1,571,607.87
20163-1,616,104.18
20164-1,611,185.32
20165-1,628,368.46
20166-1,682,062.91
20167-1,702,235.17
20168-1,694,767.95
20169-1,686,192.75
201610-1,706,446.63
201611-1,773,782.40
201612-1,799,282.91
20171-1,845,640.45
20172-1,877,925.44
20173-1,875,033.36
20174-1,906,765.93
20175-1,940,638.25
20176-1,959,809.51
20177-1,964,666.02
20178-1,997,147.11
20179-2,051,765.08
201710-2,084,379.30
201711-2,144,482.09
201712-2,248,744.62
20181-2,183,830.42
20182-2,185,240.70
20183-2,148,878.91
20184-2,191,031.77
20185-2,237,327.61
20186-2,272,693.98
20187-2,328,393.28
20188-2,367,504.41
20189-2,276,379.50
201810-2,229,119.39
201811-2,105,124.36
201812-2,141,661.66
20191-2,266,497.03
20192-2,310,648.89
20193-2,396,679.42
20194-2,359,967.36
20195-2,393,118.98
20196-2,484,711.88
20197-2,406,830.72
20198-2,481,086.92
20199-2,481,330.14
201910-2,591,344.68
201911-2,655,333.27
201912-2,744,191.27
20201-2,747,541.29
20202-2,227,769.43
20203-2,323,978.20
20204-2,460,799.29
20205-2,620,954.79
20206-2,712,070.58
20207-2,871,906.59
20208-2,853,899.66
20209-2,903,158.01
202010-3,017,952.26
202011-3,146,519.46
202012-3,234,474.11
20211-3,315,061.95
20212-3,342,290.47
20213-3,543,546.02
20214-3,570,485.18
20215-3,635,126.06
20216-3,746,659.05
20217-3,828,529.61
20218-3,825,294.55
20219-3,842,591.61
202110-4,024,912.75
202111-4,035,595.02
202112-3,952,786.51
20221-3,838,054.12
20222-3,803,796.28
20223-3,808,296.24
20224-3,508,479.35
20225-3,390,265.17
20226-3,406,019.24
20227-3,625,618.71
20228-3,361,767.79
20229-3,257,849.66
202210-3,296,757.13
Click to show 1314 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 1912 to 2022
Start Value
Average monthly close
$9.12
End Value
Average monthly close
$3,770.55
Change in price+41,243.75%
+5.63% / yr
Change incl. dividends+3,428,299.06%
+9.88% / yr
Change incl. dividends, inflation-adjusted+111,491.05%
+6.54% / yr
Final amount, nominal
($100 base)
$3,428,399.06
Final amount, inflation-adjusted
($100 base)
$111,591.05