S&P 500: $100 in 1913 → $3,199,007.26 in 2022

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Stock market returns since 1913

If you invested $100 in the S&P 500 at the beginning of 1913, you would have about $3,199,007.26 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 3,198,907.26%, or 9.90% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 106,171.47% cumulatively, or 6.55% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $3,416,593.35.

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 $3,198,907.26, or 3,198,907.26%. This means by 2022 you would have $3,199,007.26 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 1913 was 9.900 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 109 years.

Adjusted for inflation, the $3,199,007.26 nominal end value of the original $100 investment would have a real return of roughly $106,171.47 in 1913 dollars. This means the inflation-adjusted return is 106,171.47% as opposed to the original 3,198,907.26%.

For more information on inflation, see our U.S. inflation calculator for 1913.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1318-month period between 1913 and 2022.

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

YearMonthReturn (%)Amount ($)
19131-3.12%96.88
19132-1.45%95.48
191330.34%95.80
19134-2.28%93.62
19135-4.56%89.35
191361.85%91.00
191373.16%93.88
191381.42%95.21
19139-2.70%92.64
191310-2.06%90.74
1913110.37%91.08
1913124.60%95.27
191411.79%96.97
19142-1.42%95.59
19143-1.94%93.74
191441.09%94.75
19145-0.03%94.73
19146-5.07%89.92
191470.48%90.36
191480.48%90.79
191490.47%91.22
1914100.47%91.64
191411-3.84%88.13
1914122.24%90.11
19151-0.87%89.33
191523.05%92.05
191537.99%99.41
19154-1.90%97.52
191551.58%99.06
191560.07%99.12
191574.69%103.77
191584.14%108.07
191595.95%114.50
1915103.89%118.96
1915110.59%119.66
191512-1.20%118.22
19161-1.00%117.03
191620.08%117.13
19163-0.67%116.35
191642.64%119.42
191651.41%121.10
19166-0.95%119.95
191671.22%121.41
191684.55%126.93
191693.55%131.44
1916102.75%135.06
191611-3.57%130.24
191612-1.87%127.80
19171-5.15%121.23
191723.64%125.64
19173-0.97%124.41
19174-2.83%120.89
191752.61%124.05
19176-2.19%121.33
19177-2.36%118.47
19178-4.17%113.53
19179-4.74%108.14
191710-7.61%99.91
191711-2.61%97.31
1917126.87%104.00
191813.84%107.99
19182-1.27%106.62
19183-0.21%106.40
191843.94%110.60
191850.85%111.54
191861.51%113.22
191871.62%115.06
191880.14%115.22
191894.91%120.87
1918103.17%124.71
191811-1.39%122.98
191812-0.03%122.94
191910.98%124.15
191923.64%128.67
191933.90%133.69
191947.47%143.67
191953.19%148.25
191963.75%153.82
19197-6.25%144.20
191982.09%147.22
191995.60%155.47
191910-2.48%151.60
191911-2.45%147.88
191912-0.51%147.12
19201-7.77%135.69
192027.58%145.98
19203-0.30%145.54
19204-5.77%137.14
19205-1.20%135.49
192060.42%136.06
19207-3.37%131.47
192084.12%136.89
192090.67%137.81
192010-4.53%131.56
192011-8.39%120.53
1920125.03%126.59
19211-0.11%126.45
19212-1.96%123.98
192131.04%125.26
192143.63%129.82
19215-7.43%120.17
192160.31%120.54
19217-0.61%119.80
192183.10%123.51
192191.96%125.93
1921105.96%133.43
1921114.09%138.89
1921120.39%139.42
192212.72%143.22
192224.28%149.34
192236.58%159.17
192244.38%166.15
19225-0.47%165.37
192261.19%167.33
192274.24%174.43
192283.07%179.78
192292.67%184.58
192210-4.52%176.24
1922110.25%176.68
1922121.85%179.95
192314.75%188.50
192322.08%192.41
19233-3.04%186.56
19234-4.25%178.62
19235-3.31%172.72
19236-2.84%167.81
192371.04%169.55
192381.16%171.51
19239-0.94%169.91
1923103.54%175.91
1923113.92%182.81
1923123.79%189.74
192410.95%191.55
19242-1.42%188.84
19243-1.79%185.46
192440.17%185.79
192452.42%190.28
192465.16%200.09
192473.93%207.96
19248-0.48%206.96
19249-0.81%205.29
1924106.08%217.79
1924115.87%230.57
1924124.58%241.14
192511.29%244.24
19252-2.19%238.90
19253-0.61%237.45
192543.67%246.16
192552.24%251.67
192563.22%259.78
192571.79%264.42
192582.74%271.67
192593.73%281.80
1925103.53%291.74
1925112.04%297.68
1925121.93%303.41
192610.56%305.10
19262-6.38%285.63
19263-2.35%278.90
192641.15%282.12
192655.22%296.84
192664.66%310.66
192674.39%324.31
192681.94%330.61
19269-1.83%324.54
1926101.74%330.18
1926112.71%339.12
192612-0.24%338.30
192712.37%346.33
192721.97%353.14
192732.88%363.30
192743.87%377.36
192751.70%383.78
192762.62%393.85
192775.73%416.40
192786.06%441.65
19279-1.17%436.50
1927102.66%448.10
1927112.72%460.27
1927120.77%463.81
19281-0.83%459.97
192825.75%486.40
192836.66%518.80
192843.44%536.62
19285-4.57%512.13
192861.09%517.71
192873.59%536.30
192887.37%575.85
192892.36%589.43
1928107.08%631.17
1928110.70%635.56
1928127.69%684.45
192910.81%690.00
192922.05%704.16
19293-0.30%702.03
192941.80%714.65
192952.20%730.38
192969.20%797.58
192975.96%845.09
192984.24%880.96
19299-10.32%790.00
192910-26.19%583.09
1929114.37%608.59
1929121.83%619.71
193016.64%660.84
193024.12%688.08
193036.69%734.09
19304-5.65%692.61
19305-9.77%624.94
19306-1.76%613.94
19307-0.90%608.44
193080.34%610.53
19309-13.37%528.90
193010-6.80%492.93
193011-6.19%462.43
1930123.56%478.88
193118.14%517.86
193122.38%530.18
19313-9.08%482.04
19314-9.16%437.89
19315-2.68%426.16
193163.86%442.60
19317-2.49%431.60
19318-14.37%369.58
19319-12.75%322.46
1931102.05%329.09
193111-18.10%269.52
193112-0.85%267.23
19321-0.05%267.11
193221.14%270.16
19323-23.22%207.41
19324-11.31%183.95
19325-12.39%161.15
193266.18%171.12
1932751.35%258.99
1932810.37%285.84
19329-13.22%248.06
193210-0.34%247.23
193211-2.64%240.70
1932124.57%251.70
19331-11.27%223.35
193320.33%224.09
1933311.24%249.28
1933429.32%322.37
1933517.58%379.05
193368.46%411.12
19337-4.64%392.04
19338-0.48%390.14
19339-9.38%353.56
1933102.80%363.46
1933112.32%371.90
1933126.08%394.53
193417.75%425.10
19342-4.80%404.71
193432.02%412.88
19344-9.83%372.31
193451.70%378.64
19346-4.36%362.15
19347-3.51%349.42
19348-2.01%342.41
193491.21%346.54
1934103.21%357.67
1934111.06%361.46
1934120.40%362.92
19351-2.62%353.42
19352-5.93%332.46
193537.94%358.85
193548.27%388.51
193554.17%404.72
193565.60%427.39
193577.10%457.75
193582.43%468.89
193592.99%482.89
1935109.71%529.78
1935110.29%531.34
1935125.82%562.27
193616.03%596.19
193622.41%610.57
193630.41%613.10
19364-5.02%582.32
193654.57%608.96
193666.23%646.92
193672.30%661.79
193681.44%671.34
193695.55%708.60
1936103.10%730.58
193611-1.40%720.35
1936123.46%745.27
193713.30%769.88
193720.23%771.65
19373-5.62%728.25
19374-4.09%698.49
19375-3.34%675.17
193766.39%718.34
193771.44%728.66
19378-13.76%628.38
19379-14.10%539.79
193710-8.27%495.17
193711-1.02%490.13
1937123.24%505.99
19381-1.80%496.87
19382-6.02%466.96
19383-3.44%450.89
193841.56%457.90
193852.93%471.33
1938620.49%567.89
193871.06%573.90
19388-4.08%550.46
1938911.62%614.41
1938100.47%617.27
193811-2.55%601.53
193812-1.16%594.53
19391-0.46%591.81
193920.27%593.39
19393-12.24%520.75
193944.10%542.08
193952.17%553.86
193962.84%569.56
19397-1.07%563.49
1939811.06%625.78
193991.38%634.44
193910-1.41%625.51
193911-1.97%613.16
193912-0.15%612.25
19401-0.23%610.86
19402-0.15%609.97
194031.42%618.63
19404-13.34%536.10
19405-8.09%492.70
194063.87%511.77
194072.65%525.33
194084.76%550.32
194091.47%558.39
1940102.85%574.31
194011-3.59%553.69
1940120.72%557.68
19411-5.72%525.75
194121.18%531.94
19413-2.55%518.40
19414-1.59%510.17
194154.11%531.12
194165.71%561.45
194170.08%561.88
194180.86%566.73
19419-3.43%547.26
194110-4.08%524.92
194111-5.88%494.04
1941122.62%506.97
19421-2.48%494.40
19422-4.76%470.85
19423-3.45%454.59
194241.87%463.10
194255.75%489.72
194264.38%511.17
194270.05%511.41
194281.66%519.91
194297.97%561.33
1942102.15%573.43
1942111.06%579.49
1942126.50%617.17
194316.43%656.88
194324.01%683.25
194333.79%709.12
194344.36%740.07
194352.18%756.20
194362.47%774.89
19437-4.54%739.72
194382.55%758.61
19439-0.50%754.81
194310-4.21%723.06
1943111.77%735.86
1943123.67%762.83
19441-0.24%760.98
194423.24%785.63
19443-1.31%775.35
194442.20%792.43
194455.14%833.18
194463.02%858.34
19447-1.06%849.28
19448-1.23%838.87
194492.88%863.06
194410-0.28%860.61
1944112.60%882.99
1944123.38%912.87
194513.73%946.95
194520.31%949.93
194532.90%977.49
194544.16%1,018.16
194552.19%1,040.43
19456-1.70%1,022.80
194570.71%1,030.02
194587.18%1,103.97
194594.51%1,153.81
1945103.61%1,195.41
1945112.02%1,219.62
1945124.30%1,272.05
194610.59%1,279.50
19462-2.68%1,245.23
194636.77%1,329.53
194640.52%1,336.42
19465-0.34%1,331.89
19466-2.55%1,297.96
19467-1.62%1,276.89
19468-14.42%1,092.73
19469-1.87%1,072.27
194610-0.01%1,072.13
1946113.39%1,108.52
1946120.92%1,118.72
194714.27%1,166.48
19472-3.67%1,123.64
19473-3.30%1,086.58
19474-1.36%1,071.78
194753.92%1,113.80
194766.69%1,188.36
19477-1.56%1,169.83
19478-2.17%1,144.48
194793.03%1,179.12
194710-0.73%1,170.52
194711-1.12%1,157.38
194712-0.86%1,147.37
19481-4.45%1,096.33
194821.92%1,117.36
194838.19%1,208.85
194845.33%1,273.28
194854.59%1,331.69
19486-1.96%1,305.63
19487-2.49%1,273.14
19488-0.68%1,264.51
194893.19%1,304.82
194810-5.10%1,238.27
194811-0.16%1,236.31
1948121.63%1,256.45
19491-3.33%1,214.64
194921.49%1,232.76
194930.41%1,237.86
19494-0.18%1,235.60
19495-4.91%1,174.89
194966.26%1,248.48
194974.17%1,300.55
194981.87%1,324.89
194993.14%1,366.51
1949101.95%1,393.12
1949113.24%1,438.28
1949122.63%1,476.11
195012.52%1,513.35
195021.38%1,534.16
195033.39%1,586.11
195043.91%1,648.19
195052.16%1,683.87
19506-6.72%1,570.65
195076.64%1,674.91
195084.11%1,743.72
195094.72%1,826.05
1950100.38%1,832.92
1950110.19%1,836.49
1950128.01%1,983.64
195114.31%2,069.11
19512-1.11%2,046.09
195131.93%2,085.51
195140.63%2,098.62
19515-1.15%2,074.59
195162.37%2,123.68
195174.97%2,229.13
195183.14%2,299.03
195190.03%2,299.68
195110-2.25%2,247.86
1951113.61%2,329.08
1951123.83%2,418.37
19521-1.33%2,386.16
195220.75%2,404.05
195230.20%2,408.93
195240.46%2,420.01
195253.24%2,498.53
195263.37%2,582.65
195270.88%2,605.39
19528-1.11%2,576.51
19529-1.61%2,535.01
1952103.67%2,627.98
1952114.51%2,746.47
1952120.99%2,773.63
19531-0.77%2,752.18
195320.96%2,778.52
19533-4.47%2,654.24
195341.00%2,680.85
19535-3.11%2,597.54
195361.91%2,647.25
195370.90%2,671.05
19538-4.11%2,561.35
195393.52%2,651.42
1953102.71%2,723.23
1953111.84%2,773.25
1953123.02%2,857.11
195412.68%2,933.57
195422.58%3,009.33
195434.45%3,143.26
195444.42%3,282.27
195451.22%3,322.42
195464.46%3,470.51
195472.39%3,553.60
195482.74%3,650.96
195492.71%3,749.93
1954104.30%3,911.26
1954114.95%4,104.99
1954122.17%4,194.01
195513.70%4,349.39
19552-0.44%4,330.41
195533.81%4,495.32
19554-0.08%4,491.78
195556.15%4,767.81
195567.64%5,132.26
19557-0.30%5,116.90
195584.82%5,363.35
19559-4.72%5,109.94
1955107.07%5,471.02
1955111.24%5,538.71
195512-2.39%5,406.45
195610.95%5,457.78
195627.21%5,851.08
195631.48%5,937.83
19564-2.84%5,769.29
19565-0.26%5,754.17
195665.75%6,084.97
19567-0.28%6,067.65
19568-3.09%5,880.23
19569-0.95%5,824.15
195610-0.71%5,782.66
1956111.81%5,887.26
195612-1.86%5,777.61
19571-4.00%5,546.75
195721.62%5,636.63
195732.64%5,785.67
195744.16%6,026.36
195751.95%6,144.13
195762.32%6,286.80
19577-5.21%5,959.57
19578-3.74%5,736.71
19579-5.90%5,398.44
195710-1.80%5,301.24
1957110.32%5,318.11
1957122.33%5,441.95
195810.70%5,480.14
195822.42%5,612.71
195830.90%5,663.02
195843.56%5,864.50
195852.74%6,024.91
195863.07%6,209.92
195874.05%6,461.69
195882.94%6,651.90
195894.36%6,941.86
1958103.33%7,172.76
1958112.16%7,327.87
1958124.25%7,639.65
19591-1.27%7,543.00
195922.81%7,754.67
195931.94%7,904.84
195941.77%8,044.39
19595-0.61%7,995.62
195964.23%8,333.64
19597-0.32%8,307.10
19598-3.70%7,999.47
195990.18%8,013.61
1959100.67%8,067.22
1959113.46%8,346.60
195912-1.49%8,222.59
19601-3.61%7,925.82
19602-1.08%7,840.37
196031.58%7,964.58
19604-0.62%7,914.84
196053.99%8,230.49
19606-2.20%8,049.74
196071.49%8,169.75
19608-2.72%7,947.47
19609-1.67%7,814.43
1960103.54%8,091.13
1960112.69%8,308.83
1960125.43%8,759.74
196114.37%9,142.91
196123.40%9,453.50
196132.92%9,729.44
196141.26%9,852.36
19615-1.08%9,745.94
19616-0.03%9,743.21
196173.84%10,117.25
19618-0.54%10,062.45
196191.34%10,197.59
1961104.77%10,684.22
1961111.16%10,808.48
196112-3.49%10,431.58
196211.91%10,630.77
196220.34%10,667.02
19623-2.94%10,352.88
19624-7.19%9,609.02
19625-11.41%8,512.36
196262.72%8,743.68
196273.02%9,008.00
19628-0.59%8,954.55
19629-2.86%8,698.78
1962107.20%9,325.17
1962114.62%9,756.34
1962124.15%10,160.91
196311.60%10,323.03
19632-0.11%10,311.85
196334.98%10,825.19
196342.27%11,070.88
196350.22%11,094.86
19636-1.22%10,959.30
196373.03%11,291.49
196382.89%11,618.22
196390.50%11,676.30
196310-0.31%11,640.50
1963112.39%11,919.10
1963123.33%12,316.03
196411.48%12,498.29
196422.07%12,757.14
196431.69%12,973.13
196441.22%13,131.45
19645-0.35%13,085.40
196463.96%13,603.72
19647-1.23%13,436.98
196481.97%13,701.08
196491.97%13,971.02
1964100.94%14,101.92
196411-1.49%13,891.75
1964122.82%14,283.61
196510.98%14,422.88
196520.34%14,471.28
196531.56%14,696.69
196541.73%14,951.33
19655-4.51%14,277.42
196560.10%14,292.11
196572.12%14,594.90
196583.60%15,119.75
196592.50%15,497.26
1965101.08%15,664.01
196511-0.21%15,630.86
1965121.98%15,940.42
19661-0.43%15,871.81
19662-3.86%15,258.79
196633.32%15,765.53
19664-5.01%14,976.06
19665-0.56%14,892.26
196660.02%14,895.00
19667-5.77%14,035.64
19668-3.22%13,583.02
19669-0.56%13,506.35
1966105.32%14,224.36
1966110.72%14,326.17
1966124.13%14,917.89
196713.73%15,474.33
196722.63%15,881.88
196731.99%16,198.32
196742.06%16,531.63
19675-0.99%16,367.67
196761.99%16,693.78
196771.85%17,002.89
196781.65%17,284.10
196790.10%17,300.94
196710-2.88%16,802.37
1967113.11%17,325.22
196712-0.02%17,322.19
19681-4.26%16,584.79
19682-1.56%16,326.19
196837.66%17,577.06
196842.56%18,026.63
196852.94%18,556.73
196860.05%18,565.81
19687-1.93%18,206.76
196883.51%18,845.40
196892.72%19,357.46
1968101.79%19,703.14
1968111.29%19,956.39
196812-3.99%19,161.10
19691-0.24%19,115.39
19692-1.91%18,749.56
196932.27%19,175.97
196943.51%19,849.72
19695-4.97%18,862.92
19696-4.21%18,069.67
19697-0.28%18,018.43
196980.63%18,131.68
196991.35%18,375.81
1969101.00%18,559.10
196911-5.03%17,626.04
196912-0.59%17,522.22
19701-3.20%16,962.19
197022.01%17,303.52
19703-2.75%16,828.07
19704-11.20%14,943.49
19705-0.27%14,903.16
197060.52%14,981.04
197073.26%15,468.79
197086.32%16,446.61
197092.49%16,856.05
1970100.21%16,890.91
1970117.16%18,100.01
1970124.11%18,844.05
197114.15%19,626.28
197122.83%20,182.06
197133.67%20,923.52
19714-1.11%20,691.72
19715-1.60%20,361.51
19716-0.46%20,267.24
19717-1.52%19,959.76
197182.49%20,456.04
19719-1.86%20,074.81
197110-4.37%19,197.23
1971117.16%20,572.45
1971124.42%21,482.27
197212.09%21,930.60
197222.62%22,505.10
197231.26%22,788.41
19724-0.78%22,611.60
197250.52%22,728.30
19726-0.50%22,613.78
197273.78%23,469.41
19728-1.21%23,185.32
197290.42%23,282.11
1972105.25%24,505.40
1972112.31%25,071.84
1972120.99%25,319.89
19731-3.33%24,477.98
19732-1.35%24,148.66
19733-1.63%23,754.24
19734-2.57%23,143.81
19735-1.99%22,683.30
197361.21%22,957.82
19737-1.64%22,582.37
197382.00%23,032.95
197394.24%24,008.47
197310-6.85%22,363.20
197311-6.81%20,841.32
1973121.70%21,195.71
19741-2.47%20,671.57
197424.57%21,617.22
19743-4.82%20,576.00
19744-2.71%20,019.28
197450.46%20,110.81
19746-11.35%17,828.87
19747-3.76%17,157.66
19748-10.01%15,439.56
197492.38%15,806.55
1974103.74%16,398.26
197411-6.09%15,399.30
1974128.63%16,728.69
1975110.81%18,536.65
197524.97%19,458.59
197531.49%19,747.95
197546.71%21,073.56
197552.89%21,683.56
197560.43%21,777.23
19757-7.00%20,253.64
19758-0.85%20,080.94
197594.97%21,079.22
1975102.04%21,509.59
197511-1.18%21,255.86
1975129.55%23,284.79
197614.18%24,257.66
197620.80%24,452.30
197631.10%24,720.17
19764-0.38%24,625.42
197650.90%24,847.19
197662.67%25,509.46
19767-0.56%25,366.45
197682.44%25,984.85
19769-3.11%25,177.19
197610-0.37%25,084.88
1976113.79%26,034.72
197612-0.54%25,894.84
19771-2.37%25,281.50
19772-0.05%25,267.80
19773-1.19%24,966.19
197740.06%24,982.29
197750.90%25,207.07
197761.28%25,530.34
19777-2.08%24,999.66
19778-1.18%24,705.83
19779-2.20%24,162.83
1977100.98%24,399.90
197711-0.08%24,380.35
197712-3.39%23,553.77
19781-0.97%23,324.83
197820.27%23,386.79
197834.83%24,516.37
197845.50%25,865.83
197850.67%26,040.05
19786-0.06%26,023.83
197877.33%27,930.90
197880.40%28,042.53
19789-2.77%27,264.77
197810-5.44%25,782.21
1978111.92%26,277.96
1978124.19%27,377.77
19791-1.06%27,088.40
197922.34%27,722.58
197932.43%28,396.49
19794-1.89%27,858.94
197952.42%28,532.47
197961.42%28,937.87
197975.01%30,388.91
197981.54%30,857.04
19799-3.35%29,822.55
197910-0.32%29,726.39
1979114.40%31,035.54
1979123.31%32,063.58
198014.40%33,473.05
19802-8.78%30,534.84
19803-1.16%30,180.01
198045.04%31,699.92
198056.86%33,875.39
198064.97%35,558.81
198073.50%36,805.03
198082.84%37,848.75
198093.32%39,107.14
1980104.61%40,911.81
198011-1.24%40,402.55
1980120.01%40,406.59
19811-3.07%39,166.03
198124.14%40,788.80
198131.29%41,316.52
19814-1.62%40,648.32
198150.86%40,996.92
19816-2.02%40,170.32
198170.80%40,492.71
19818-8.30%37,130.73
198191.73%37,772.07
1981103.04%38,921.75
1981111.18%39,380.78
198112-4.80%37,488.88
19821-1.91%36,771.38
19822-2.74%35,762.18
198235.47%37,718.12
198240.57%37,932.98
19825-5.27%35,933.68
198260.24%36,021.30
198270.79%36,307.30
1982812.10%40,699.17
198298.88%44,313.83
1982104.50%46,307.91
1982111.36%46,935.62
1982123.93%48,778.19
198312.13%49,817.17
198323.87%51,742.91
198334.20%53,914.77
198344.42%56,299.96
198351.75%57,287.18
198360.71%57,692.85
19837-2.41%56,304.08
198383.31%58,169.90
198390.65%58,546.80
198310-1.14%57,878.53
198311-0.13%57,804.38
1983121.58%58,715.33
19841-5.11%55,713.70
198420.44%55,960.16
198430.51%56,243.99
19844-0.25%56,101.93
19845-1.85%55,064.99
19846-0.91%54,564.76
198479.21%59,588.29
198481.41%60,426.68
19849-0.41%60,177.48
1984101.29%60,951.31
198411-0.71%60,520.04
1984124.70%63,363.01
198515.79%67,030.06
19852-0.48%66,709.44
198531.02%67,393.02
198542.74%69,236.65
198552.51%70,975.16
198562.25%72,570.12
19857-1.85%71,230.98
19858-1.88%69,888.28
198591.50%70,933.50
1985106.42%75,487.80
1985115.29%79,484.51
1985120.75%80,082.02
198615.70%84,644.49
198626.18%89,877.87
198632.74%92,341.80
198640.49%92,795.97
198653.13%95,703.49
19866-1.80%93,977.08
198672.28%96,120.56
19868-2.46%93,759.61
19869-0.09%93,675.35
1986103.53%96,984.85
1986111.71%98,642.26
1986126.67%105,225.03
198716.46%112,024.54
198724.38%116,927.19
19873-0.86%115,925.81
198740.17%116,126.17
198754.50%121,350.04
198763.12%125,138.71
198776.45%133,215.17
19878-3.03%129,178.19
19879-11.85%113,865.55
198710-12.30%99,856.20
198711-1.33%98,523.43
1987124.25%102,707.27
198813.33%106,125.94
198823.23%109,556.00
19883-0.89%108,585.30
19884-2.19%106,209.17
198856.00%112,579.81
19886-0.31%112,234.27
19887-1.72%110,305.55
198881.93%112,431.32
198893.80%116,705.53
198810-2.02%114,347.79
1988112.33%117,007.46
1988123.51%121,117.54
198913.30%125,114.23
19892-0.16%124,911.98
198933.56%129,364.84
198944.12%134,688.59
198953.39%139,258.07
198962.80%143,157.54
198974.69%149,872.70
198980.46%150,555.43
198990.29%150,986.40
198910-1.81%148,248.19
1989112.74%152,305.30
198912-2.21%148,937.49
19901-2.53%145,173.57
199022.71%149,103.66
199030.20%149,395.88
199043.85%155,149.00
199053.17%160,067.16
199060.17%160,338.83
19907-7.86%147,734.23
19908-4.34%141,321.00
19909-2.32%138,048.33
1990102.98%142,167.44
1990114.59%148,688.10
199012-0.69%147,669.33
1991111.61%164,808.98
199123.04%169,826.78
199132.26%173,662.88
19914-0.18%173,352.23
199150.35%173,953.78
199160.78%175,311.47
199172.68%180,007.95
19918-0.30%179,462.34
199190.18%179,788.33
1991100.02%179,816.72
1991110.94%181,498.26
1991127.36%194,852.95
19921-0.60%193,682.19
19922-1.01%191,721.39
199230.26%192,228.12
199242.07%196,204.07
19925-1.33%193,596.27
199261.91%197,298.09
199270.94%199,156.09
199280.38%199,909.27
19929-1.18%197,546.23
1992102.76%202,992.39
1992113.27%209,632.68
1992120.14%209,932.23
199311.72%213,551.98
199322.15%218,143.67
19933-1.34%215,216.74
199340.72%216,776.47
199350.87%218,651.98
199360.06%218,785.37
199371.76%222,641.38
199381.35%225,658.11
199391.24%228,460.58
1993100.01%228,477.81
1993110.89%230,504.82
1993121.74%234,506.11
19941-0.08%234,328.59
19942-1.42%230,992.17
19943-3.35%223,262.30
199441.06%225,624.96
199451.11%228,125.09
19946-0.52%226,941.41
199473.08%233,935.92
199480.82%235,848.26
19949-0.44%234,801.08
199410-0.37%233,932.59
199411-1.03%231,533.13
1994122.45%237,208.41
199513.82%246,267.62
199522.56%252,567.57
199533.22%260,689.01
199543.35%269,416.25
199553.18%277,979.44
199563.55%287,840.70
199570.51%289,317.68
199583.72%300,073.54
199590.91%302,811.92
1995102.36%309,953.39
1995113.39%320,458.14
1995120.16%320,979.14
199615.90%339,931.01
19962-0.20%339,248.78
199630.20%339,917.24
199642.35%347,921.70
199651.28%352,370.20
19966-3.48%340,119.82
199673.08%350,581.07
199682.02%357,675.87
199694.12%372,410.32
1996105.05%391,224.79
1996111.20%395,912.56
1996123.26%408,809.57
199714.36%426,638.42
19972-0.62%423,977.54
19973-3.41%409,540.06
199749.22%447,290.77
199755.34%471,161.90
199765.74%498,187.39
199770.35%499,920.03
199781.19%505,879.12
199791.65%514,202.73
199710-1.15%508,278.89
1997112.63%521,670.09
1997120.24%522,906.91
199816.40%556,384.24
199825.31%585,944.22
199833.41%605,899.58
19984-0.22%604,555.35
199850.12%605,259.39
199864.47%632,300.36
19987-6.97%588,222.66
19988-4.90%559,408.87
199891.29%566,630.03
19981010.97%628,814.19
1998114.10%654,621.38
1998125.05%687,664.62
19991-0.07%687,205.88
199922.92%707,296.41
199934.25%737,356.67
19994-0.10%736,627.92
19995-0.61%732,121.48
199964.52%765,230.85
19997-3.77%736,348.08
19998-0.60%731,944.60
19999-1.27%722,630.81
1999107.11%773,980.60
1999112.81%795,719.63
199912-0.12%794,773.26
20001-2.48%775,078.16
200023.94%805,623.63
200031.42%817,101.07
20004-2.84%793,905.26
200053.16%819,020.29
200060.85%825,984.77
200070.94%833,746.64
20008-1.08%824,745.09
20009-5.21%781,740.99
200010-0.77%775,701.53
200011-3.32%749,947.67
2000120.46%753,359.99
20011-2.14%737,266.28
20012-9.08%670,323.22
200130.45%673,330.91
200146.88%719,651.59
20015-2.39%702,461.62
20016-2.66%683,774.54
20017-2.05%669,785.61
20018-11.25%594,452.65
200193.18%613,380.21
2001105.05%644,375.21
2001111.47%653,822.07
200112-0.30%651,875.71
20021-3.35%630,019.82
200224.95%661,176.01
20023-3.51%637,939.42
20024-2.82%619,947.16
20025-5.92%583,240.35
20026-10.76%520,492.44
200271.14%526,419.76
20028-4.76%501,374.13
20029-1.37%494,520.13
2002106.63%527,284.94
200211-1.04%521,827.22
200212-0.22%520,666.06
20031-6.41%487,266.19
200321.31%493,639.13
200335.29%519,732.20
200345.31%547,341.48
200355.70%578,562.85
200360.60%582,010.51
20037-0.17%581,042.48
200383.16%599,410.29
200392.03%611,565.30
2003101.21%618,968.83
2003113.06%637,932.86
2003124.93%669,414.60
200411.09%676,688.87
20042-1.57%666,097.36
200430.97%672,546.10
20044-2.56%655,300.31
200452.86%674,026.68
20046-2.24%658,936.70
20047-1.39%649,793.50
200482.78%667,874.81
200490.10%668,560.02
2004104.77%700,476.38
2004112.73%719,581.50
200412-1.35%709,872.75
200511.68%721,807.18
20052-0.26%719,962.33
20053-2.41%702,619.02
200541.34%712,005.10
200552.18%727,531.78
200561.81%740,684.03
200570.31%742,980.29
200580.28%745,058.33
20059-2.62%725,506.37
2005103.96%754,247.61
2005112.14%770,419.67
2005121.47%781,719.95
20061-0.02%781,589.88
200621.49%793,205.38
200630.80%799,537.79
20064-0.79%793,248.34
20065-2.71%771,784.68
200660.72%777,341.84
200672.29%795,156.65
200682.53%815,283.44
200693.62%844,763.38
2006102.00%861,672.53
2006112.15%880,183.54
2006120.69%886,281.68
200711.60%900,427.16
20072-2.47%878,151.58
200734.18%914,860.59
200743.39%945,890.41
200750.34%949,152.80
200760.57%954,606.82
20077-4.20%914,502.75
200783.07%942,621.37
200792.99%970,821.14
200710-4.81%924,160.46
2007111.24%935,603.61
200712-6.64%873,524.47
20081-1.56%859,862.84
20082-2.63%837,277.38
200834.24%872,809.78
200842.56%895,176.44
20085-4.25%857,162.03
20086-6.08%805,059.68
200872.11%822,050.75
20088-4.85%782,201.54
20089-20.19%624,247.01
200810-8.61%570,528.38
200811-0.35%568,524.59
200812-1.10%562,296.08
20091-6.70%524,608.15
20092-5.69%494,771.39
2009312.32%555,735.89
200946.66%592,746.91
200952.87%609,751.99
200961.28%617,542.44
200978.12%667,691.49
200983.65%692,064.52
200992.40%708,695.58
2009102.09%723,537.97
2009112.23%739,642.90
2009121.36%749,679.61
20101-2.90%727,950.35
201025.94%771,212.70
201034.09%802,739.33
20104-5.88%755,519.02
20105-3.54%728,746.72
20106-0.16%727,587.48
201070.86%733,871.01
201083.37%758,610.94
201094.58%793,335.87
2010102.49%813,097.19
2010113.71%843,293.47
2010123.46%872,489.92
201113.15%899,980.89
20112-1.11%889,968.96
201132.22%909,735.02
201140.66%915,732.31
20115-3.66%882,192.69
201163.10%909,555.98
20117-10.40%814,956.27
20118-0.79%808,524.27
201193.02%832,932.86
2011101.77%847,651.80
2011111.55%860,830.68
2011124.78%902,000.40
201214.16%939,547.15
201222.88%966,642.16
20123-0.04%966,272.80
20124-3.09%936,405.77
20125-1.15%925,614.53
201262.92%952,652.53
201273.39%984,925.55
201283.02%1,014,681.79
20129-0.22%1,012,478.56
201210-2.84%983,749.54
2012112.18%1,005,151.36
2012124.27%1,048,058.87
201312.33%1,072,510.32
201322.72%1,101,708.92
201331.45%1,117,725.46
201344.57%1,168,853.24
20135-1.12%1,155,788.09
201363.25%1,193,402.95
201370.25%1,196,416.63
201381.19%1,210,683.51
201392.12%1,236,320.34
2013103.86%1,284,042.23
2013111.52%1,303,581.01
2013120.97%1,316,197.16
20141-0.13%1,314,485.64
201422.72%1,350,269.47
201430.20%1,352,993.29
201441.53%1,373,721.62
201453.20%1,417,630.13
201461.50%1,438,835.35
20147-0.43%1,432,692.23
201481.78%1,458,165.98
20149-2.65%1,419,574.40
2014105.71%1,500,570.38
2014110.63%1,510,082.31
201412-1.11%1,493,319.71
201512.83%1,535,541.80
201520.06%1,536,391.93
201530.88%1,549,887.75
201540.98%1,565,059.66
20155-0.44%1,558,243.82
20156-0.08%1,557,002.99
20157-2.42%1,519,255.05
20158-4.51%1,450,780.77
201594.32%1,513,412.71
2015102.93%1,557,793.08
201511-1.10%1,540,611.10
201512-6.42%1,441,709.69
20161-0.55%1,433,781.60
201626.36%1,525,009.21
201632.83%1,568,186.19
20164-0.30%1,563,413.18
201651.07%1,580,086.83
201663.30%1,632,189.23
201671.20%1,651,763.37
20168-0.44%1,644,517.56
20169-0.51%1,636,196.61
2016101.20%1,655,849.96
2016113.95%1,721,189.20
2016121.44%1,745,933.62
201712.58%1,790,916.64
201721.75%1,822,244.37
20173-0.15%1,819,438.04
201741.69%1,850,229.73
201751.78%1,883,097.73
201760.99%1,901,700.55
201770.25%1,906,413.06
201781.65%1,937,931.09
201792.73%1,990,929.61
2017101.59%2,022,576.81
2017112.88%2,080,897.53
2017124.86%2,182,068.65
20181-2.89%2,119,079.17
201820.06%2,120,447.64
20183-1.66%2,085,163.98
201841.96%2,126,067.00
201852.11%2,170,990.15
201861.58%2,205,307.91
201872.45%2,259,355.70
201881.68%2,297,307.18
20189-3.85%2,208,884.14
201810-2.08%2,163,025.31
201811-5.56%2,042,706.77
2018121.74%2,078,160.73
201915.83%2,199,294.69
201921.95%2,242,137.44
201933.72%2,325,617.14
20194-1.53%2,289,993.60
201951.40%2,322,162.27
201963.83%2,411,039.40
20197-3.13%2,335,467.44
201983.09%2,407,521.93
201990.01%2,407,757.93
2019104.43%2,514,510.51
2019112.47%2,576,601.81
2019123.35%2,662,825.15
202010.12%2,666,075.85
20202-18.92%2,161,715.38
202034.32%2,255,071.53
202045.89%2,387,835.83
202056.51%2,543,242.67
202063.48%2,631,656.85
202075.89%2,786,753.67
20208-0.63%2,769,280.66
202091.73%2,817,078.48
2020103.95%2,928,469.05
2020114.26%3,053,224.18
2020122.80%3,138,570.95
202112.49%3,216,769.34
202120.82%3,243,190.52
202136.02%3,438,478.79
202140.76%3,464,619.19
202151.81%3,527,343.45
202163.07%3,635,569.45
202172.19%3,715,012.53
20218-0.08%3,711,873.38
202190.45%3,728,657.59
2021104.74%3,905,572.85
2021110.27%3,915,938.38
202112-2.05%3,835,585.17
20221-2.90%3,724,254.63
20222-0.89%3,691,012.54
202230.12%3,695,379.08
20224-7.87%3,404,451.85
20225-3.37%3,289,742.77
202260.46%3,305,029.72
202276.45%3,518,118.00
20228-7.28%3,262,090.34
20229-3.09%3,161,253.41
2022101.19%3,199,007.26
Click to show 1302 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 1913. This would result in a final amount of $3,416,593.35, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $3,199,007.26).

YearMonthContribution ($)Amount ($)
191314.164.01
191324.168.04
191334.1612.22
191344.1615.99
191354.1619.21
191364.1623.78
191374.1628.80
191384.1633.41
191394.1636.54
1913104.1639.84
1913114.1644.14
1913124.1650.51
191414.1655.62
191424.1658.91
191434.1661.83
191444.1666.69
191454.1670.81
191464.1671.15
191474.1675.65
191484.1680.17
191494.1684.71
1914104.1689.27
1914114.1689.82
1914124.3296.24
19151-95.40
19152-98.31
19153-106.17
19154-104.15
19155-105.79
19156-105.87
19157-110.83
19158-115.42
19159-122.29
191510-127.05
191511-127.80
191512-126.26
19161-124.99
19162-125.10
19163-124.26
19164-127.54
19165-129.33
19166-128.11
19167-129.66
19168-135.56
19169-140.38
191610-144.25
191611-139.10
191612-136.50
19171-129.47
19172-134.18
19173-132.88
19174-129.11
19175-132.48
19176-129.58
19177-126.53
19178-121.25
19179-115.50
191710-106.71
191711-103.93
191712-111.07
19181-115.34
19182-113.87
19183-113.64
19184-118.12
19185-119.12
19186-120.92
19187-122.88
19188-123.06
19189-129.10
191810-133.19
191811-131.34
191812-131.30
19191-132.59
19192-137.42
19193-142.78
19194-153.44
19195-158.34
19196-164.28
19197-154.01
19198-157.23
19199-166.04
191910-161.92
191911-157.94
191912-157.13
19201-144.92
19202-155.91
19203-155.44
19204-146.46
19205-144.71
19206-145.32
19207-140.42
19208-146.20
19209-147.18
192010-140.51
192011-128.73
192012-135.20
19211-135.05
19212-132.41
19213-133.78
19214-138.64
19215-128.34
19216-128.74
19217-127.95
19218-131.91
19219-134.50
192110-142.51
192111-148.33
192112-148.91
19221-152.96
19222-159.50
19223-170.00
19224-177.45
19225-176.62
19226-178.72
19227-186.29
19228-192.01
19229-197.13
192210-188.23
192211-188.70
192212-192.19
19231-201.32
19232-205.50
19233-199.25
19234-190.77
19235-184.46
19236-179.23
19237-181.08
19238-183.18
19239-181.46
192310-187.88
192311-195.24
192312-202.64
19241-204.58
19242-201.68
19243-198.08
19244-198.42
19245-203.22
19246-213.70
19247-222.10
19248-221.04
19249-219.26
192410-232.60
192411-246.25
192412-257.54
19251-260.86
19252-255.15
19253-253.60
19254-262.90
19255-268.79
19256-277.45
19257-282.40
19258-290.15
19259-300.96
192510-311.58
192511-317.92
192512-324.05
19261-325.86
19262-305.06
19263-297.87
19264-301.31
19265-317.03
19266-331.79
19267-346.36
19268-353.10
19269-346.62
192610-352.64
192611-362.18
192612-361.31
19271-369.88
19272-377.16
19273-388.01
19274-403.02
19275-409.88
19276-420.64
19277-444.73
19278-471.69
19279-466.19
192710-478.58
192711-491.58
192712-495.36
19281-491.25
19282-519.48
19283-554.09
19284-573.12
19285-546.96
19286-552.93
19287-572.78
19288-615.02
19289-629.52
192810-674.10
192811-678.79
192812-731.01
19291-736.94
19292-752.05
19293-749.78
19294-763.25
19295-780.06
19296-851.83
19297-902.57
19298-940.88
19299-843.73
192910-622.75
192911-649.99
192912-661.86
19301-705.79
19302-734.88
19303-784.03
19304-739.72
19305-667.45
19306-655.70
19307-649.83
19308-652.06
19309-564.87
193010-526.46
193011-493.89
193012-511.45
19311-553.08
19312-566.24
19313-514.83
19314-467.67
19315-455.14
19316-472.70
19317-460.95
19318-394.72
19319-344.39
193110-351.47
193111-287.85
193112-285.41
19321-285.28
19322-288.53
19323-221.52
19324-196.46
19325-172.11
19326-182.76
19327-276.61
19328-305.28
19329-264.93
193210-264.04
193211-257.07
193212-268.82
19331-238.54
19332-239.33
19333-266.24
19334-344.30
19335-404.83
19336-439.09
19337-418.71
19338-416.68
19339-377.61
193310-388.18
193311-397.20
193312-421.37
19341-454.02
19342-432.23
19343-440.96
19344-397.63
19345-404.40
19346-386.79
19347-373.19
19348-365.70
19349-370.11
193410-382.00
193411-386.04
193412-387.61
19351-377.46
19352-355.07
19353-383.26
19354-414.93
19355-432.25
19356-456.46
19357-488.89
19358-500.78
19359-515.74
193510-565.82
193511-567.48
193512-600.52
19361-636.74
19362-652.09
19363-654.80
19364-621.93
19365-650.38
19366-690.92
19367-706.80
19368-717.00
19369-756.80
193610-780.28
193611-769.35
193612-795.96
19371-822.24
19372-824.13
19373-777.78
19374-746.00
19375-721.09
19376-767.20
19377-778.22
19378-671.12
19379-576.51
193710-528.85
193711-523.46
193712-540.41
19381-530.66
19382-498.73
19383-481.55
19384-489.05
19385-503.39
19386-606.52
19387-612.93
19388-587.90
19389-656.20
193810-659.25
193811-642.44
193812-634.97
19391-632.07
19392-633.75
19393-556.17
19394-578.95
19395-591.53
19396-608.30
19397-601.81
19398-668.35
19399-677.59
193910-668.05
193911-654.87
193912-653.90
19401-652.41
19402-651.46
19403-660.71
19404-572.56
19405-526.22
19406-546.58
19407-561.06
19408-587.75
19409-596.37
194010-613.37
194011-591.35
194012-595.61
19411-561.51
19412-568.12
19413-553.66
19414-544.87
19415-567.24
19416-599.64
19417-600.10
19418-605.27
19419-584.49
194110-560.62
194111-527.65
194112-541.45
19421-528.03
19422-502.88
19423-485.51
19424-494.60
19425-523.03
19426-545.94
19427-546.19
19428-555.27
19429-599.51
194210-612.43
194211-618.90
194212-659.15
19431-701.56
19432-729.73
19433-757.36
19434-790.40
19435-807.63
19436-827.60
19437-790.04
19438-810.21
19439-806.15
194310-772.24
194311-785.91
194312-814.72
19441-812.73
19442-839.07
19443-828.09
19444-846.33
19445-889.85
19446-916.72
19447-907.04
19448-895.93
19449-921.76
194410-919.15
194411-943.05
194412-974.96
19451-1,011.36
19452-1,014.54
19453-1,043.98
19454-1,087.42
19455-1,111.20
19456-1,092.36
19457-1,100.08
19458-1,179.06
19459-1,232.28
194510-1,276.72
194511-1,302.57
194512-1,358.57
19461-1,366.52
19462-1,329.93
19463-1,419.96
19464-1,427.31
19465-1,422.48
19466-1,386.24
19467-1,363.74
19468-1,167.05
19469-1,145.20
194610-1,145.05
194611-1,183.92
194612-1,194.81
19471-1,245.82
19472-1,200.07
19473-1,160.49
19474-1,144.68
19475-1,189.56
19476-1,269.18
19477-1,249.40
19478-1,222.33
19479-1,259.32
194710-1,250.13
194711-1,236.10
194712-1,225.41
19481-1,170.89
19482-1,193.36
19483-1,291.07
19484-1,359.89
19485-1,422.27
19486-1,394.43
19487-1,359.73
19488-1,350.51
19489-1,393.57
194810-1,322.49
194811-1,320.40
194812-1,341.91
19491-1,297.26
19492-1,316.61
19493-1,322.05
19494-1,319.64
19495-1,254.81
19496-1,333.40
19497-1,389.01
19498-1,415.00
19499-1,459.46
194910-1,487.88
194911-1,536.11
194912-1,576.51
19501-1,616.28
19502-1,638.51
19503-1,693.99
19504-1,760.30
19505-1,798.40
19506-1,677.49
19507-1,788.83
19508-1,862.33
19509-1,950.25
195010-1,957.59
195011-1,961.40
195012-2,118.56
19511-2,209.84
19512-2,185.26
19513-2,227.36
19514-2,241.36
19515-2,215.69
19516-2,268.13
19517-2,380.75
19518-2,455.40
19519-2,456.10
195110-2,400.75
195111-2,487.50
195112-2,582.86
19521-2,548.46
19522-2,567.57
19523-2,572.78
19524-2,584.61
19525-2,668.48
19526-2,758.32
19527-2,782.61
19528-2,751.76
19529-2,707.43
195210-2,806.72
195211-2,933.28
195212-2,962.28
19531-2,939.37
19532-2,967.50
19533-2,834.77
19534-2,863.20
19535-2,774.22
19536-2,827.31
19537-2,852.72
19538-2,735.56
19539-2,831.77
195310-2,908.46
195311-2,961.88
195312-3,051.44
19541-3,133.11
19542-3,214.02
19543-3,357.06
19544-3,505.52
19545-3,548.40
19546-3,706.56
19547-3,795.31
19548-3,899.29
19549-4,004.99
195410-4,177.29
195411-4,384.20
195412-4,479.28
19551-4,645.22
19552-4,624.95
19553-4,801.08
19554-4,797.30
19555-5,092.10
19556-5,481.34
19557-5,464.94
19558-5,728.15
19559-5,457.50
195510-5,843.14
195511-5,915.43
195512-5,774.18
19561-5,829.00
19562-6,249.05
19563-6,341.71
19564-6,161.70
19565-6,145.55
19566-6,498.85
19567-6,480.35
19568-6,280.18
19569-6,220.29
195610-6,175.98
195611-6,287.70
195612-6,170.58
19571-5,924.02
19572-6,020.02
19573-6,179.19
19574-6,436.26
19575-6,562.03
19576-6,714.41
19577-6,364.92
19578-6,126.90
19579-5,765.62
195710-5,661.82
195711-5,679.83
195712-5,812.09
19581-5,852.89
19582-5,994.46
19583-6,048.20
19584-6,263.39
19585-6,434.70
19586-6,632.30
19587-6,901.19
19588-7,104.34
19589-7,414.02
195810-7,660.63
195811-7,826.29
195812-8,159.27
19591-8,056.05
19592-8,282.12
19593-8,442.50
19594-8,591.54
19595-8,539.46
19596-8,900.47
19597-8,872.12
19598-8,543.56
19599-8,558.66
195910-8,615.93
195911-8,914.31
195912-8,781.86
19601-8,464.91
19602-8,373.64
19603-8,506.30
19604-8,453.18
19605-8,790.30
19606-8,597.25
19607-8,725.43
19608-8,488.03
19609-8,345.94
196010-8,641.46
196011-8,873.97
196012-9,355.55
19611-9,764.78
19612-10,096.49
19613-10,391.21
19614-10,522.49
19615-10,408.82
19616-10,405.91
19617-10,805.39
19618-10,746.86
19619-10,891.20
196110-11,410.93
196111-11,543.64
196112-11,141.10
19621-11,353.84
19622-11,392.55
19623-11,057.05
19624-10,262.59
19625-9,091.35
19626-9,338.39
19627-9,620.70
19628-9,563.61
19629-9,290.44
196210-9,959.44
196211-10,419.94
196212-10,852.02
19631-11,025.17
19632-11,013.23
19633-11,561.49
19634-11,823.88
19635-11,849.50
19636-11,704.71
19637-12,059.50
19638-12,408.45
19639-12,470.48
196310-12,432.25
196311-12,729.80
196312-13,153.72
19641-13,348.39
19642-13,624.84
19643-13,855.52
19644-14,024.61
19645-13,975.43
19646-14,529.00
19647-14,350.92
19648-14,632.98
19649-14,921.28
196410-15,061.08
196411-14,836.63
196412-15,255.13
19651-15,403.88
19652-15,455.57
19653-15,696.32
19654-15,968.27
19655-15,248.52
19656-15,264.21
19657-15,587.60
19658-16,148.15
19659-16,551.34
196510-16,729.43
196511-16,694.02
196512-17,024.64
19661-16,951.36
19662-16,296.64
19663-16,837.85
19664-15,994.68
19665-15,905.19
19666-15,908.11
19667-14,990.30
19668-14,506.89
19669-14,425.01
196610-15,191.85
196611-15,300.59
196612-15,932.55
19671-16,526.84
19672-16,962.11
19673-17,300.08
19674-17,656.06
19675-17,480.94
19676-17,829.24
19677-18,159.37
19678-18,459.71
19679-18,477.69
196710-17,945.21
196711-18,503.62
196712-18,500.39
19681-17,712.83
19682-17,436.65
19683-18,772.59
19684-19,252.74
19685-19,818.90
19686-19,828.60
19687-19,445.13
19688-20,127.20
19689-20,674.09
196810-21,043.28
196811-21,313.75
196812-20,464.37
19691-20,415.55
19692-20,024.84
19693-20,480.26
19694-21,199.83
19695-20,145.92
19696-19,298.72
19697-19,243.98
19698-19,364.93
19699-19,625.67
196910-19,821.43
196911-18,824.91
196912-18,714.02
19701-18,115.91
19702-18,480.45
19703-17,972.66
19704-15,959.90
19705-15,916.82
19706-16,000.00
19707-16,520.92
19708-17,565.26
19709-18,002.55
197010-18,039.77
197011-19,331.12
197012-20,125.76
19711-20,961.19
19712-21,554.78
19713-22,346.67
19714-22,099.10
19715-21,746.43
19716-21,645.75
19717-21,317.36
19718-21,847.40
19719-21,440.23
197110-20,502.97
197111-21,971.72
197112-22,943.43
19721-23,422.25
19722-24,035.82
19723-24,338.41
19724-24,149.57
19725-24,274.20
19726-24,151.89
19727-25,065.72
19728-24,762.31
19729-24,865.68
197210-26,172.17
197211-26,777.15
197212-27,042.07
19731-26,142.89
19732-25,791.18
19733-25,369.93
19734-24,717.98
19735-24,226.15
19736-24,519.34
19737-24,118.35
19738-24,599.58
19739-25,641.45
197310-23,884.27
197311-22,258.88
197312-22,637.38
19741-22,077.59
19742-23,087.56
19743-21,975.51
19744-21,380.93
19745-21,478.69
19746-19,041.53
19747-18,324.66
19748-16,489.71
19749-16,881.66
197410-17,513.61
197411-16,446.71
197412-17,866.52
19751-19,797.45
19752-20,782.10
19753-21,091.14
19754-22,506.91
19755-23,158.40
19756-23,258.45
19757-21,631.23
19758-21,446.78
19759-22,512.96
197510-22,972.60
197511-22,701.61
197512-24,868.54
19761-25,907.58
19762-26,115.47
19763-26,401.55
19764-26,300.36
19765-26,537.22
19766-27,244.53
19767-27,091.79
19768-27,752.26
19769-26,889.66
197610-26,791.07
197611-27,805.51
197612-27,656.13
19771-27,001.06
19772-26,986.43
19773-26,664.30
19774-26,681.50
19775-26,921.58
19776-27,266.83
19777-26,700.05
19778-26,386.24
19779-25,806.31
197710-26,059.50
197711-26,038.62
197712-25,155.82
19781-24,911.30
19782-24,977.49
19783-26,183.90
19784-27,625.14
19785-27,811.21
19786-27,793.89
19787-29,830.67
19788-29,949.90
19789-29,119.23
197810-27,535.83
197811-28,065.30
197812-29,239.92
19791-28,930.87
19792-29,608.18
19793-30,327.93
19794-29,753.82
19795-30,473.15
19796-30,906.13
19797-32,455.87
19798-32,955.83
19799-31,850.99
197910-31,748.29
197911-33,146.48
197912-34,244.44
19801-35,749.78
19802-32,611.73
19803-32,232.76
19804-33,856.05
19805-36,179.48
19806-37,977.41
19807-39,308.39
19808-40,423.10
19809-41,767.08
198010-43,694.50
198011-43,150.60
198012-43,154.91
19811-41,829.98
19812-43,563.12
19813-44,126.74
19814-43,413.09
19815-43,785.40
19816-42,902.57
19817-43,246.89
19818-39,656.24
19819-40,341.20
198110-41,569.08
198111-42,059.33
198112-40,038.75
19821-39,272.45
19822-38,194.60
19823-40,283.59
19824-40,513.06
19825-38,377.77
19826-38,471.35
19827-38,776.81
19828-43,467.40
19829-47,327.91
198210-49,457.63
198211-50,128.02
198212-52,095.93
19831-53,205.58
19832-55,262.30
19833-57,581.87
19834-60,129.30
19835-61,183.67
19836-61,616.93
19837-60,133.70
19838-62,126.43
19839-62,528.96
198310-61,815.24
198311-61,736.04
198312-62,708.96
19841-59,503.17
19842-59,766.38
19843-60,069.52
19844-59,917.80
19845-58,810.34
19846-58,276.08
19847-63,641.30
19848-64,536.71
19849-64,270.56
198410-65,097.02
198411-64,636.42
198412-67,672.76
19851-71,589.22
19852-71,246.80
19853-71,976.87
19854-73,945.90
19855-75,802.66
19856-77,506.11
19857-76,075.88
19858-74,641.85
19859-75,758.17
198510-80,622.24
198511-84,890.79
198512-85,528.94
19861-90,401.73
19862-95,991.07
19863-98,622.59
19864-99,107.65
19865-102,212.93
19866-100,369.09
19867-102,658.37
19868-100,136.84
19869-100,046.84
198610-103,581.44
198611-105,351.59
198612-112,382.09
19871-119,644.08
19872-124,880.20
19873-123,810.71
19874-124,024.70
19875-129,603.88
19876-133,650.23
19877-142,276.04
19878-137,964.47
19879-121,610.32
198710-106,648.10
198711-105,224.67
198712-109,693.08
19881-113,344.29
19882-117,007.64
19883-115,970.92
19884-113,433.17
19885-120,237.12
19886-119,868.09
19887-117,808.17
19888-120,078.53
19889-124,643.46
198810-122,125.35
198811-124,965.93
198812-129,355.56
19891-133,624.10
19892-133,408.08
19893-138,163.81
19894-143,849.67
19895-148,729.95
19896-152,894.65
19897-160,066.56
19898-160,795.72
19899-161,256.01
198910-158,331.55
198911-162,664.62
198912-159,067.73
19901-155,047.80
19902-159,245.20
19903-159,557.30
19904-165,701.73
19905-170,954.41
19906-171,244.56
19907-157,782.63
19908-150,933.19
19909-147,437.93
199010-151,837.20
199011-158,801.38
199012-157,713.32
19911-176,018.75
19912-181,377.85
19913-185,474.86
19914-185,143.09
19915-185,785.56
19916-187,235.59
19917-192,251.50
19918-191,668.79
19919-192,016.94
199110-192,047.27
199111-193,843.18
199112-208,106.22
19921-206,855.82
19922-204,761.66
19923-205,302.85
19924-209,549.23
19925-206,764.06
19926-210,717.67
19927-212,702.04
19928-213,506.45
19929-210,982.69
199210-216,799.27
199211-223,891.21
199212-224,211.14
19931-228,077.09
19932-232,981.10
19933-229,855.09
19934-231,520.90
19935-233,523.98
19936-233,666.44
19937-237,784.73
19938-241,006.64
19939-243,999.72
199310-244,018.13
199311-246,183.01
199312-250,456.45
19941-250,266.86
19942-246,703.51
19943-238,447.88
19944-240,971.23
19945-243,641.42
19946-242,377.23
19947-249,847.48
19948-251,889.90
19949-250,771.49
199410-249,843.93
199411-247,281.26
199412-253,342.56
19951-263,017.94
19952-269,746.39
19953-278,420.23
19954-287,741.07
19955-296,886.70
19956-307,418.69
19957-308,996.13
19958-320,483.57
19959-323,408.20
199510-331,035.41
199511-342,254.66
199512-342,811.10
19961-363,052.01
19962-362,323.38
19963-363,037.31
19964-371,586.20
19965-376,337.28
19966-363,253.67
19967-374,426.45
19968-382,003.82
19969-397,740.46
199610-417,834.63
199611-422,841.24
199612-436,615.47
19971-455,656.98
19972-452,815.12
19973-437,395.65
19974-477,714.04
19975-503,208.80
19976-532,072.48
19977-533,922.97
19978-540,287.37
19979-549,177.13
199710-542,850.37
199711-557,152.40
199712-558,473.34
19981-594,227.69
19982-625,798.25
19983-647,110.90
19984-645,675.24
19985-646,427.17
19986-675,307.38
19987-628,231.66
19988-597,458.04
19989-605,170.37
199810-671,584.09
199811-699,146.61
199812-734,437.34
19991-733,947.40
19992-755,404.42
19993-787,509.27
19994-786,730.97
19995-781,918.00
19996-817,279.36
19997-786,432.09
19998-781,729.09
19999-771,781.82
199910-826,624.24
199911-849,841.89
199912-848,831.15
20001-827,796.46
20002-860,419.54
20003-872,677.64
20004-847,904.12
20005-874,727.39
20006-882,165.57
20007-890,455.38
20008-880,841.57
20009-834,912.47
200010-828,462.24
200011-800,956.68
200012-804,601.09
20011-787,412.74
20012-715,916.43
20013-719,128.70
20014-768,599.96
20015-750,240.77
20016-730,282.67
20017-715,342.26
20018-634,885.39
20019-655,100.34
200110-688,203.52
200111-698,292.92
200112-696,214.18
20021-672,871.72
20022-706,147.05
20023-681,329.99
20024-662,113.96
20025-622,910.46
20026-555,894.65
20027-562,225.12
20028-535,475.97
20029-528,155.78
200210-563,149.15
200211-557,320.21
200212-556,080.08
20031-520,408.45
20032-527,214.87
20033-555,082.70
20034-584,569.87
20035-617,914.81
20036-621,596.97
20037-620,563.11
20038-640,180.23
20039-653,161.99
200310-661,069.08
200311-681,322.98
200312-714,946.01
20041-722,715.05
20042-711,403.14
20043-718,290.50
20044-699,871.71
20045-719,871.78
20046-703,755.44
20047-693,990.34
20048-713,301.49
20049-714,033.30
200410-748,120.51
200411-768,525.10
200412-758,155.99
20051-770,902.16
20052-768,931.83
20053-750,408.89
20054-760,433.38
20055-777,016.13
20056-791,062.96
20057-793,515.40
20058-795,734.78
20059-774,852.96
200510-805,549.08
200511-822,821.11
200512-834,890.01
20061-834,751.08
20062-847,156.63
20063-853,919.75
20064-847,202.51
20065-824,278.97
20066-830,214.11
20067-849,240.62
20068-870,736.37
20069-902,221.44
200610-920,280.70
200611-940,050.76
200612-946,563.69
20071-961,671.30
20072-937,880.60
20073-977,086.44
20074-1,010,226.80
20075-1,013,711.09
20076-1,019,536.07
20077-976,704.26
20078-1,006,735.41
20079-1,036,853.24
200710-987,018.86
200711-999,240.33
200712-932,938.76
20081-918,347.92
20082-894,226.27
20083-932,175.46
20084-956,063.43
20085-915,463.41
20086-859,817.23
20087-877,963.97
20088-835,404.35
20089-666,706.26
200810-609,333.87
200811-607,193.78
200812-600,541.63
20091-560,290.29
20092-528,424.14
20093-593,535.24
20094-633,063.63
20095-651,225.34
20096-659,545.67
20097-713,105.69
20098-739,136.50
20099-756,898.75
200910-772,750.67
200911-789,951.00
200912-800,670.39
20101-777,463.17
20102-823,668.08
20103-857,339.06
20104-806,906.97
20105-778,313.71
20106-777,075.62
20107-783,786.54
20108-810,209.19
20109-847,296.00
201010-868,401.42
201011-900,651.56
201012-931,833.86
20111-961,194.67
20112-950,501.76
20113-971,612.24
20114-978,017.44
20115-942,196.58
20116-971,421.02
20117-870,386.95
20118-863,517.47
20119-889,586.25
201110-905,306.33
201111-919,381.59
201112-963,351.54
20121-1,003,452.10
20122-1,032,390.02
20123-1,031,995.54
20124-1,000,097.05
20125-988,571.82
20126-1,017,448.87
20127-1,051,916.99
20128-1,083,697.15
20129-1,081,344.07
201210-1,050,660.99
201211-1,073,518.49
201212-1,119,344.44
20131-1,145,458.99
20132-1,176,643.58
20133-1,193,749.52
20134-1,248,354.85
20135-1,234,401.05
20136-1,274,574.35
20137-1,277,793.01
20138-1,293,030.27
20139-1,320,410.83
201310-1,371,378.61
201311-1,392,246.36
201312-1,405,720.62
20141-1,403,892.68
20142-1,442,110.42
20143-1,445,019.50
20144-1,467,157.71
20145-1,514,052.73
20146-1,536,700.26
20147-1,530,139.31
20148-1,557,345.70
20149-1,516,129.24
201410-1,602,634.31
201411-1,612,793.21
201412-1,594,890.47
20151-1,639,984.37
20152-1,640,892.32
20153-1,655,306.08
20154-1,671,509.94
20155-1,664,230.51
20156-1,662,905.28
20157-1,622,589.85
20158-1,549,458.17
20159-1,616,350.13
201510-1,663,749.11
201511-1,645,398.46
201512-1,539,770.10
20161-1,531,302.77
20162-1,628,735.39
20163-1,674,849.13
20164-1,669,751.47
20165-1,687,559.21
20166-1,743,205.44
20167-1,764,110.95
20168-1,756,372.31
20169-1,747,485.40
201610-1,768,475.50
201611-1,838,258.91
201612-1,864,686.36
20171-1,912,728.98
20172-1,946,187.52
20173-1,943,190.31
20174-1,976,076.35
20175-2,011,179.92
20176-2,031,048.05
20177-2,036,081.09
20178-2,069,742.87
20179-2,126,346.18
201710-2,160,145.92
201711-2,222,433.43
201712-2,330,485.88
20181-2,263,212.06
20182-2,264,673.60
20183-2,226,990.07
20184-2,270,675.18
20185-2,318,653.86
20186-2,355,305.79
20187-2,413,029.74
20188-2,453,562.56
20189-2,359,125.27
201810-2,310,147.28
201811-2,181,645.05
201812-2,219,510.48
20191-2,348,883.58
20192-2,394,640.35
20193-2,483,798.07
20194-2,445,751.53
20195-2,480,108.21
20196-2,575,030.48
20197-2,494,318.36
20198-2,571,273.76
20199-2,571,525.81
201910-2,685,539.35
201911-2,751,853.91
201912-2,843,941.88
20201-2,847,413.67
20202-2,308,748.24
20203-2,408,454.17
20204-2,550,248.67
20205-2,716,225.79
20206-2,810,653.61
20207-2,976,299.62
20208-2,957,638.14
20209-3,008,687.01
202010-3,127,654.01
202011-3,260,894.58
202012-3,352,046.36
20211-3,435,563.55
20212-3,463,781.82
20213-3,672,352.96
20214-3,700,271.34
20215-3,767,261.90
20216-3,882,849.08
20217-3,967,695.62
20218-3,964,342.97
20219-3,982,268.78
202110-4,171,217.24
202111-4,182,287.80
202112-4,096,469.22
20221-3,977,566.34
20222-3,942,063.24
20223-3,946,726.77
20224-3,636,011.62
20225-3,513,500.39
20226-3,529,827.11
20227-3,757,408.97
20228-3,483,967.13
20229-3,376,271.61
202210-3,416,593.35
Click to show 1302 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 1913 to 2022
Start Value
Average monthly close
$9.30
End Value
Average monthly close
$3,770.55
Change in price+40,443.55%
+5.66% / yr
Change incl. dividends+3,198,907.26%
+9.90% / yr
Change incl. dividends, inflation-adjusted+106,171.47%
+6.55% / yr
Final amount, nominal
($100 base)
$3,199,007.26
Final amount, inflation-adjusted
($100 base)
$106,271.47