S&P 500: $100 in 1921 → $2,527,051.42 in 2022

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Stock market returns between 1921 and 2022

If you invested $100 in the S&P 500 at the beginning of 1921, you would have about $2,527,051.42 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 2,526,951.42%, or 10.47% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 154,464.56% cumulatively, or 7.48% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $2,232,941.52.

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 $2,526,951.42, or 2,526,951.42%. This means by 2022 you would have $2,527,051.42 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 1921 was 17.900 and the CPI in 2022 was 292.656.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 101 years.

Adjusted for inflation, the $2,527,051.42 nominal end value of the original $100 investment would have a real return of roughly $154,464.56 in 1921 dollars. This means the inflation-adjusted return is 154,464.56% as opposed to the original 2,526,951.42%.

For more information on inflation, see our U.S. inflation calculator for 1921.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1222-month period between 1921 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
19211-0.11%99.8919.00
19212-1.96%97.9318.40
192131.04%98.9518.30
192143.63%102.5518.10
19215-7.43%94.9317.70
192160.31%95.2217.60
19217-0.61%94.6417.70
192183.10%97.5717.70
192191.96%99.4817.50
1921105.96%105.4017.50
1921114.09%109.7117.40
1921120.39%110.1417.30
192212.72%113.1416.90
192224.28%117.9716.90
192236.58%125.7416.70
192244.38%131.2516.70
19225-0.47%130.6316.70
192261.19%132.1916.70
192274.24%137.7916.80
192283.07%142.0216.60
192292.67%145.8016.60
192210-4.52%139.2216.70
1922110.25%139.5716.80
1922121.85%142.1516.90
192314.75%148.9016.80
192322.08%152.0016.80
19233-3.04%147.3716.80
19234-4.25%141.1016.90
19235-3.31%136.4416.90
19236-2.84%132.5617.00
192371.04%133.9417.20
192381.16%135.4917.10
19239-0.94%134.2217.20
1923103.54%138.9617.30
1923113.92%144.4117.30
1923123.79%149.8817.30
192410.95%151.3117.30
19242-1.42%149.1717.20
19243-1.79%146.5117.10
192440.17%146.7617.00
192452.42%150.3117.00
192465.16%158.0617.00
192473.93%164.2817.10
19248-0.48%163.4917.00
19249-0.81%162.1717.10
1924106.08%172.0417.20
1924115.87%182.1417.20
1924124.58%190.4917.30
192511.29%192.9417.30
19252-2.19%188.7217.20
19253-0.61%187.5717.30
192543.67%194.4517.20
192552.24%198.8117.30
192563.22%205.2117.50
192571.79%208.8817.70
192582.74%214.6117.70
192593.73%222.6117.70
1925103.53%230.4617.70
1925112.04%235.1518.00
1925121.93%239.6817.90
192610.56%241.0217.90
19262-6.38%225.6317.90
19263-2.35%220.3217.80
192641.15%222.8617.90
192655.22%234.4917.80
192664.66%245.4017.70
192674.39%256.1817.50
192681.94%261.1617.40
19269-1.83%256.3717.50
1926101.74%260.8317.60
1926112.71%267.8817.70
192612-0.24%267.2417.70
192712.37%273.5817.50
192721.97%278.9617.40
192732.88%286.9917.30
192743.87%298.0917.30
192751.70%303.1717.40
192762.62%311.1317.60
192775.73%328.9417.30
192786.06%348.8817.20
19279-1.17%344.8117.30
1927102.66%353.9717.40
1927112.72%363.5917.30
1927120.77%366.3917.30
19281-0.83%363.3517.30
192825.75%384.2317.10
192836.66%409.8317.10
192843.44%423.9117.10
19285-4.57%404.5517.20
192861.09%408.9717.10
192873.59%423.6517.10
192887.37%454.8917.10
192892.36%465.6217.30
1928107.08%498.6017.20
1928110.70%502.0617.20
1928127.69%540.6817.10
192910.81%545.0717.10
192922.05%556.2517.10
19293-0.30%554.5717.00
192941.80%564.5316.90
192952.20%576.9617.00
192969.20%630.0417.10
192975.96%667.5817.30
192984.24%695.9117.30
19299-10.32%624.0617.30
192910-26.19%460.6117.30
1929114.37%480.7617.30
1929121.83%489.5417.20
193016.64%522.0317.10
193024.12%543.5517.00
193036.69%579.9016.90
19304-5.65%547.1217.00
19305-9.77%493.6716.90
19306-1.76%484.9816.80
19307-0.90%480.6416.60
193080.34%482.2916.50
19309-13.37%417.8016.60
193010-6.80%389.3916.50
193011-6.19%365.3016.40
1930123.56%378.2916.10
193118.14%409.0815.90
193122.38%418.8215.70
19313-9.08%380.7915.60
19314-9.16%345.9115.50
19315-2.68%336.6415.30
193163.86%349.6315.10
19317-2.49%340.9415.10
19318-14.37%291.9515.10
19319-12.75%254.7315.00
1931102.05%259.9614.90
193111-18.10%212.9114.70
193112-0.85%211.1014.60
19321-0.05%211.0014.30
193221.14%213.4114.10
19323-23.22%163.8514.00
19324-11.31%145.3113.90
19325-12.39%127.3013.70
193266.18%135.1713.60
1932751.35%204.5913.60
1932810.37%225.8013.50
19329-13.22%195.9613.40
193210-0.34%195.3013.30
193211-2.64%190.1413.20
1932124.57%198.8313.10
19331-11.27%176.4312.90
193320.33%177.0212.70
1933311.24%196.9212.60
1933429.32%254.6512.60
1933517.58%299.4312.60
193368.46%324.7712.70
19337-4.64%309.6913.10
19338-0.48%308.1913.20
19339-9.38%279.2913.20
1933102.80%287.1213.20
1933112.32%293.7813.20
1933126.08%311.6613.20
193417.75%335.8113.20
19342-4.80%319.7013.30
193432.02%326.1513.30
19344-9.83%294.1013.30
193451.70%299.1113.30
19346-4.36%286.0813.40
19347-3.51%276.0313.40
19348-2.01%270.4813.40
193491.21%273.7513.60
1934103.21%282.5413.50
1934111.06%285.5313.50
1934120.40%286.6913.40
19351-2.62%279.1813.60
19352-5.93%262.6313.70
193537.94%283.4713.70
193548.27%306.9013.80
193554.17%319.7113.80
193565.60%337.6113.70
193577.10%361.6013.70
193582.43%370.4013.70
193592.99%381.4613.70
1935109.71%418.5013.70
1935110.29%419.7313.80
1935125.82%444.1713.80
193616.03%470.9613.80
193622.41%482.3213.80
193630.41%484.3213.70
19364-5.02%460.0113.70
193654.57%481.0513.70
193666.23%511.0413.80
193672.30%522.7813.90
193681.44%530.3314.00
193695.55%559.7614.00
1936103.10%577.1214.00
193611-1.40%569.0414.00
1936123.46%588.7214.00
193713.30%608.1614.10
193720.23%609.5614.10
19373-5.62%575.2814.20
19374-4.09%551.7714.30
19375-3.34%533.3514.40
193766.39%567.4514.40
193771.44%575.6014.50
19378-13.76%496.3914.50
19379-14.10%426.4114.60
193710-8.27%391.1614.60
193711-1.02%387.1814.50
1937123.24%399.7114.40
19381-1.80%392.5014.20
19382-6.02%368.8814.10
19383-3.44%356.1814.10
193841.56%361.7214.20
193852.93%372.3314.10
1938620.49%448.6114.10
193871.06%453.3514.10
19388-4.08%434.8414.10
1938911.62%485.3514.10
1938100.47%487.6114.00
193811-2.55%475.1814.00
193812-1.16%469.6514.00
19391-0.46%467.5014.00
193920.27%468.7513.90
19393-12.24%411.3713.90
193944.10%428.2213.80
193952.17%437.5213.80
193962.84%449.9313.80
19397-1.07%445.1213.80
1939811.06%494.3413.80
193991.38%501.1714.10
193910-1.41%494.1214.00
193911-1.97%484.3714.00
193912-0.15%483.6514.00
19401-0.23%482.5513.90
19402-0.15%481.8414.00
194031.42%488.6914.00
19404-13.34%423.4914.00
19405-8.09%389.2114.00
194063.87%404.2714.10
194072.65%414.9814.00
194084.76%434.7314.00
194091.47%441.1014.00
1940102.85%453.6714.00
194011-3.59%437.3914.00
1940120.72%440.5414.10
19411-5.72%415.3214.10
194121.18%420.2114.10
19413-2.55%409.5114.20
19414-1.59%403.0114.30
194154.11%419.5514.40
194165.71%443.5214.70
194170.08%443.8614.70
194180.86%447.6814.90
19419-3.43%432.3115.10
194110-4.08%414.6615.30
194111-5.88%390.2715.40
1941122.62%400.4815.50
19421-2.48%390.5515.70
19422-4.76%371.9515.80
19423-3.45%359.1016.00
194241.87%365.8216.10
194255.75%386.8516.30
194264.38%403.8016.30
194270.05%403.9816.40
194281.66%410.7016.50
194297.97%443.4316.50
1942102.15%452.9816.70
1942111.06%457.7616.80
1942126.50%487.5416.90
194316.43%518.9016.90
194324.01%539.7316.90
194333.79%560.1717.20
194344.36%584.6117.40
194352.18%597.3617.50
194362.47%612.1317.50
19437-4.54%584.3417.40
194382.55%599.2617.30
19439-0.50%596.2617.40
194310-4.21%571.1817.40
1943111.77%581.2917.40
1943123.67%602.6017.40
19441-0.24%601.1317.40
194423.24%620.6117.40
19443-1.31%612.4917.40
194442.20%625.9817.50
194455.14%658.1717.50
194463.02%678.0417.60
19447-1.06%670.8917.70
19448-1.23%662.6717.70
194492.88%681.7717.70
194410-0.28%679.8417.70
1944112.60%697.5117.70
1944123.38%721.1217.80
194513.73%748.0417.80
194520.31%750.4017.80
194532.90%772.1717.80
194544.16%804.3017.80
194552.19%821.8917.90
19456-1.70%807.9618.10
194570.71%813.6718.10
194587.18%872.0818.10
194594.51%911.4518.10
1945103.61%944.3118.10
1945112.02%963.4318.10
1945124.30%1,004.8518.20
194610.59%1,010.7418.20
19462-2.68%983.6718.10
194636.77%1,050.2618.30
194640.52%1,055.7018.40
19465-0.34%1,052.1218.50
19466-2.55%1,025.3218.70
19467-1.62%1,008.6719.80
19468-14.42%863.2020.20
19469-1.87%847.0420.40
194610-0.01%846.9320.80
1946113.39%875.6721.30
1946120.92%883.7321.50
194714.27%921.4621.50
19472-3.67%887.6221.50
19473-3.30%858.3421.90
19474-1.36%846.6521.90
194753.92%879.8521.90
194766.69%938.7422.00
19477-1.56%924.1122.20
19478-2.17%904.0822.50
194793.03%931.4523.00
194710-0.73%924.6523.00
194711-1.12%914.2723.10
194712-0.86%906.3623.40
19481-4.45%866.0423.70
194821.92%882.6623.50
194838.19%954.9323.40
194845.33%1,005.8323.80
194854.59%1,051.9723.90
19486-1.96%1,031.3824.10
19487-2.49%1,005.7124.40
19488-0.68%998.9024.50
194893.19%1,030.7424.50
194810-5.10%978.1724.40
194811-0.16%976.6224.20
1948121.63%992.5324.10
19491-3.33%959.5124.00
194921.49%973.8223.80
194930.41%977.8423.80
19494-0.18%976.0623.90
19495-4.91%928.1123.80
194966.26%986.2423.90
194974.17%1,027.3723.70
194981.87%1,046.5923.80
194993.14%1,079.4723.90
1949101.95%1,100.4923.70
1949113.24%1,136.1723.80
1949122.63%1,166.0523.60
195012.52%1,195.4723.50
195021.38%1,211.9123.50
195033.39%1,252.9423.60
195043.91%1,301.9923.60
195052.16%1,330.1723.70
19506-6.72%1,240.7423.80
195076.64%1,323.0924.10
195084.11%1,377.4524.30
195094.72%1,442.4924.40
1950100.38%1,447.9124.60
1950110.19%1,450.7324.70
1950128.01%1,566.9725.00
195114.31%1,634.4925.40
19512-1.11%1,616.3125.70
195131.93%1,647.4425.80
195140.63%1,657.8025.80
19515-1.15%1,638.8225.90
195162.37%1,677.6025.90
195174.97%1,760.9025.90
195183.14%1,816.1225.90
195190.03%1,816.6326.10
195110-2.25%1,775.7026.20
1951113.61%1,839.8526.40
1951123.83%1,910.3926.50
19521-1.33%1,884.9426.50
195220.75%1,899.0826.30
195230.20%1,902.9326.30
195240.46%1,911.6826.40
195253.24%1,973.7126.40
195263.37%2,040.1626.50
195270.88%2,058.1326.70
19528-1.11%2,035.3126.70
19529-1.61%2,002.5226.70
1952103.67%2,075.9726.70
1952114.51%2,169.5726.70
1952120.99%2,191.0326.70
19531-0.77%2,174.0826.60
195320.96%2,194.8926.50
19533-4.47%2,096.7126.60
195341.00%2,117.7426.60
19535-3.11%2,051.9226.70
195361.91%2,091.1926.80
195370.90%2,109.9926.80
19538-4.11%2,023.3326.90
195393.52%2,094.4926.90
1953102.71%2,151.2127.00
1953111.84%2,190.7226.90
1953123.02%2,256.9726.90
195412.68%2,317.3726.90
195422.58%2,377.2226.90
195434.45%2,483.0226.90
195444.42%2,592.8326.80
195451.22%2,624.5426.90
195464.46%2,741.5226.90
195472.39%2,807.1626.90
195482.74%2,884.0726.90
195492.71%2,962.2526.80
1954104.30%3,089.6926.80
1954114.95%3,242.7326.80
1954122.17%3,313.0526.70
195513.70%3,435.7926.70
19552-0.44%3,420.8026.70
195533.81%3,551.0726.70
19554-0.08%3,548.2826.70
195556.15%3,766.3226.70
195567.64%4,054.2226.70
19557-0.30%4,042.0926.80
195584.82%4,236.7726.80
19559-4.72%4,036.5926.90
1955107.07%4,321.8226.90
1955111.24%4,375.2926.90
195512-2.39%4,270.8226.80
195610.95%4,311.3726.80
195627.21%4,622.0526.80
195631.48%4,690.5826.80
19564-2.84%4,557.4426.90
19565-0.26%4,545.5027.00
195665.75%4,806.8227.20
19567-0.28%4,793.1327.40
19568-3.09%4,645.0827.30
19569-0.95%4,600.7827.40
195610-0.71%4,568.0027.50
1956111.81%4,650.6427.50
195612-1.86%4,564.0127.60
19571-4.00%4,381.6527.60
195721.62%4,452.6527.70
195732.64%4,570.3827.80
195744.16%4,760.5227.90
195751.95%4,853.5528.00
195762.32%4,966.2528.10
19577-5.21%4,707.7528.30
19578-3.74%4,531.7128.30
19579-5.90%4,264.4928.30
195710-1.80%4,187.7128.30
1957110.32%4,201.0328.40
1957122.33%4,298.8628.40
195810.70%4,329.0328.60
195822.42%4,433.7528.60
195830.90%4,473.5028.80
195843.56%4,632.6628.90
195852.74%4,759.3728.90
195863.07%4,905.5228.90
195874.05%5,104.4029.00
195882.94%5,254.6628.90
195894.36%5,483.7128.90
1958103.33%5,666.1128.90
1958112.16%5,788.6429.00
1958124.25%6,034.9328.90
19591-1.27%5,958.5829.00
195922.81%6,125.7928.90
195931.94%6,244.4128.90
195941.77%6,354.6629.00
19595-0.61%6,316.1329.00
195964.23%6,583.1529.10
19597-0.32%6,562.1829.20
19598-3.70%6,319.1729.20
195990.18%6,330.3429.30
1959100.67%6,372.6929.40
1959113.46%6,593.3929.40
195912-1.49%6,495.4229.40
19601-3.61%6,260.9929.30
19602-1.08%6,193.4929.40
196031.58%6,291.6129.40
19604-0.62%6,252.3129.50
196053.99%6,501.6629.50
19606-2.20%6,358.8829.60
196071.49%6,453.6829.60
19608-2.72%6,278.0929.60
19609-1.67%6,173.0029.60
1960103.54%6,391.5729.80
1960112.69%6,563.5529.80
1960125.43%6,919.7529.80
196114.37%7,222.4329.80
196123.40%7,467.7829.80
196132.92%7,685.7629.80
196141.26%7,782.8629.80
19615-1.08%7,698.7929.80
19616-0.03%7,696.6429.80
196173.84%7,992.1130.00
19618-0.54%7,948.8229.90
196191.34%8,055.5730.00
1961104.77%8,439.9930.00
1961111.16%8,538.1530.00
196112-3.49%8,240.4130.00
196211.91%8,397.7630.00
196220.34%8,426.4030.10
19623-2.94%8,178.2430.10
19624-7.19%7,590.6330.20
19625-11.41%6,724.3330.20
196262.72%6,907.0630.20
196273.02%7,115.8630.30
19628-0.59%7,073.6430.30
19629-2.86%6,871.5930.40
1962107.20%7,366.4030.40
1962114.62%7,707.0130.40
1962124.15%8,026.6030.40
196311.60%8,154.6630.40
19632-0.11%8,145.8330.40
196334.98%8,551.3530.50
196342.27%8,745.4330.50
196350.22%8,764.3730.50
19636-1.22%8,657.2830.60
196373.03%8,919.6930.70
196382.89%9,177.8030.70
196390.50%9,223.6830.70
196310-0.31%9,195.4030.80
1963112.39%9,415.4830.80
1963123.33%9,729.0330.90
196411.48%9,873.0130.90
196422.07%10,077.4830.90
196431.69%10,248.1130.90
196441.22%10,373.1730.90
19645-0.35%10,336.8030.90
196463.96%10,746.2431.00
19647-1.23%10,614.5331.10
196481.97%10,823.1531.00
196491.97%11,036.3931.10
1964100.94%11,139.7931.10
196411-1.49%10,973.7731.20
1964122.82%11,283.3231.20
196510.98%11,393.3431.20
196520.34%11,431.5731.20
196531.56%11,609.6331.30
196541.73%11,810.7831.40
19655-4.51%11,278.4331.40
196560.10%11,290.0331.60
196572.12%11,529.2231.60
196583.60%11,943.8331.60
196592.50%12,242.0431.60
1965101.08%12,373.7631.70
196511-0.21%12,347.5831.70
1965121.98%12,592.1231.80
19661-0.43%12,537.9231.80
19662-3.86%12,053.6632.00
196633.32%12,453.9632.10
19664-5.01%11,830.3232.30
19665-0.56%11,764.1232.30
196660.02%11,766.2932.40
19667-5.77%11,087.4432.50
19668-3.22%10,729.8832.70
19669-0.56%10,669.3232.70
1966105.32%11,236.5132.90
1966110.72%11,316.9432.90
1966124.13%11,784.3632.90
196713.73%12,223.9232.90
196722.63%12,545.8732.90
196731.99%12,795.8433.00
196742.06%13,059.1433.10
19675-0.99%12,929.6233.20
196761.99%13,187.2333.30
196771.85%13,431.4133.40
196781.65%13,653.5533.50
196790.10%13,666.8533.60
196710-2.88%13,273.0133.70
1967113.11%13,686.0333.80
196712-0.02%13,683.6433.90
19681-4.26%13,101.1334.10
19682-1.56%12,896.8534.20
196837.66%13,884.9734.30
196842.56%14,240.1134.40
196852.94%14,658.8734.50
196860.05%14,666.0434.70
19687-1.93%14,382.4134.90
196883.51%14,886.9035.00
196892.72%15,291.4035.10
1968101.79%15,564.4735.30
1968111.29%15,764.5235.40
196812-3.99%15,136.2835.50
19691-0.24%15,100.1735.60
19692-1.91%14,811.1935.80
196932.27%15,148.0336.10
196943.51%15,680.2636.30
19695-4.97%14,900.7436.40
19696-4.21%14,274.1136.60
19697-0.28%14,233.6336.80
196980.63%14,323.0937.00
196991.35%14,515.9437.10
1969101.00%14,660.7337.30
196911-5.03%13,923.6737.50
196912-0.59%13,841.6537.70
19701-3.20%13,399.2637.80
197022.01%13,668.8938.00
19703-2.75%13,293.3138.20
19704-11.20%11,804.5938.50
19705-0.27%11,772.7338.60
197060.52%11,834.2538.80
197073.26%12,219.5539.00
197086.32%12,991.9839.00
197092.49%13,315.4239.20
1970100.21%13,342.9539.40
1970117.16%14,298.0839.60
1970124.11%14,885.8339.80
197114.15%15,503.7539.80
197122.83%15,942.7939.90
197133.67%16,528.5140.00
19714-1.11%16,345.3940.10
19715-1.60%16,084.5540.30
19716-0.46%16,010.0840.60
19717-1.52%15,767.1940.70
197182.49%16,159.2240.80
19719-1.86%15,858.0740.80
197110-4.37%15,164.8340.90
1971117.16%16,251.1840.90
1971124.42%16,969.8941.10
197212.09%17,324.0541.10
197222.62%17,777.8741.30
197231.26%18,001.6741.40
19724-0.78%17,862.0041.50
197250.52%17,954.1941.60
19726-0.50%17,863.7241.70
197273.78%18,539.6341.90
19728-1.21%18,315.2142.00
197290.42%18,391.6742.10
1972105.25%19,358.0042.30
1972112.31%19,805.4742.40
1972120.99%20,001.4242.50
19731-3.33%19,336.3442.60
19732-1.35%19,076.2042.90
19733-1.63%18,764.6343.30
19734-2.57%18,282.4243.60
19735-1.99%17,918.6443.90
197361.21%18,135.5044.20
19737-1.64%17,838.9144.30
197382.00%18,194.8545.10
197394.24%18,965.4645.20
197310-6.85%17,665.7845.60
197311-6.81%16,463.5745.90
1973121.70%16,743.5346.20
19741-2.47%16,329.4846.60
197424.57%17,076.5047.20
19743-4.82%16,253.9847.80
19744-2.71%15,814.2048.00
197450.46%15,886.5148.60
19746-11.35%14,083.8949.00
19747-3.76%13,553.6749.40
19748-10.01%12,196.4650.00
197492.38%12,486.3650.60
1974103.74%12,953.7851.10
197411-6.09%12,164.6651.50
1974128.63%13,214.8051.90
1975110.81%14,643.0052.10
197524.97%15,371.2952.50
197531.49%15,599.8752.70
197546.71%16,647.0352.90
197552.89%17,128.9053.20
197560.43%17,202.8953.60
19757-7.00%15,999.3354.20
19758-0.85%15,862.9154.30
197594.97%16,651.5054.60
1975102.04%16,991.4754.90
197511-1.18%16,791.0355.30
1975129.55%18,393.7955.50
197614.18%19,162.3055.60
197620.80%19,316.0655.80
197631.10%19,527.6655.90
19764-0.38%19,452.8256.10
197650.90%19,628.0156.50
197662.67%20,151.1656.80
19767-0.56%20,038.1957.10
197682.44%20,526.7057.40
19769-3.11%19,888.6857.60
197610-0.37%19,815.7657.90
1976113.79%20,566.0958.00
197612-0.54%20,455.6058.20
19771-2.37%19,971.0858.50
19772-0.05%19,960.2659.10
19773-1.19%19,722.0059.50
197740.06%19,734.7360.00
197750.90%19,912.2960.30
197761.28%20,167.6660.70
19777-2.08%19,748.4561.00
19778-1.18%19,516.3461.20
19779-2.20%19,087.3961.40
1977100.98%19,274.6761.60
197711-0.08%19,259.2261.90
197712-3.39%18,606.2762.10
19781-0.97%18,425.4162.50
197820.27%18,474.3662.90
197834.83%19,366.6763.40
197845.50%20,432.6863.90
197850.67%20,570.3064.50
19786-0.06%20,557.4965.20
197877.33%22,063.9765.70
197880.40%22,152.1666.00
19789-2.77%21,537.7766.50
197810-5.44%20,366.6267.10
1978111.92%20,758.2467.40
1978124.19%21,627.0367.70
19791-1.06%21,398.4568.30
197922.34%21,899.4269.10
197932.43%22,431.7769.80
19794-1.89%22,007.1370.60
197952.42%22,539.1871.50
197961.42%22,859.4372.30
197975.01%24,005.6873.10
197981.54%24,375.4873.80
19799-3.35%23,558.2874.60
197910-0.32%23,482.3275.20
1979114.40%24,516.4875.90
1979123.31%25,328.5876.70
198014.40%26,441.9977.80
19802-8.78%24,120.9678.90
19803-1.16%23,840.6680.10
198045.04%25,041.3181.00
198056.86%26,759.8281.80
198064.97%28,089.6382.70
198073.50%29,074.0982.70
198082.84%29,898.5783.30
198093.32%30,892.6384.00
1980104.61%32,318.2384.80
198011-1.24%31,915.9485.50
1980120.01%31,919.1386.30
19811-3.07%30,939.1587.00
198124.14%32,221.0687.90
198131.29%32,637.9388.50
19814-1.62%32,110.0989.10
198150.86%32,385.4689.80
19816-2.02%31,732.4990.60
198170.80%31,987.1691.60
19818-8.30%29,331.3792.30
198191.73%29,837.9993.20
1981103.04%30,746.1893.40
1981111.18%31,108.7993.70
198112-4.80%29,614.2994.00
19821-1.91%29,047.5094.30
19822-2.74%28,250.2894.60
198235.47%29,795.3894.50
198240.57%29,965.1194.90
19825-5.27%28,385.7695.80
198260.24%28,454.9897.00
198270.79%28,680.9197.50
1982812.10%32,150.2597.70
198298.88%35,005.6597.90
1982104.50%36,580.8798.20
1982111.36%37,076.7398.00
1982123.93%38,532.2797.60
198312.13%39,353.0197.80
198323.87%40,874.2497.90
198334.20%42,589.9097.90
198344.42%44,474.0898.60
198351.75%45,253.9399.20
198360.71%45,574.3999.50
19837-2.41%44,477.3399.90
198383.31%45,951.24100.20
198390.65%46,248.97100.70
198310-1.14%45,721.07101.00
198311-0.13%45,662.49101.20
1983121.58%46,382.10101.30
19841-5.11%44,010.96101.90
198420.44%44,205.65102.40
198430.51%44,429.86102.60
19844-0.25%44,317.64103.10
19845-1.85%43,498.52103.40
19846-0.91%43,103.36103.70
198479.21%47,071.69104.10
198481.41%47,733.98104.50
19849-0.41%47,537.12105.00
1984101.29%48,148.40105.30
198411-0.71%47,807.72105.30
1984124.70%50,053.52105.30
198515.79%52,950.30105.50
19852-0.48%52,697.03106.00
198531.02%53,237.02106.40
198542.74%54,693.39106.90
198552.51%56,066.73107.30
198562.25%57,326.67107.60
19857-1.85%56,268.82107.80
19858-1.88%55,208.15108.00
198591.50%56,033.82108.30
1985106.42%59,631.49108.70
1985115.29%62,788.68109.00
1985120.75%63,260.68109.30
198615.70%66,864.80109.60
198626.18%70,998.90109.30
198632.74%72,945.28108.80
198640.49%73,304.05108.60
198653.13%75,600.84108.90
19866-1.80%74,237.07109.50
198672.28%75,930.30109.50
19868-2.46%74,065.28109.70
19869-0.09%73,998.71110.20
1986103.53%76,613.05110.30
1986111.71%77,922.32110.40
1986126.67%83,122.37110.50
198716.46%88,493.63111.20
198724.38%92,366.48111.60
19873-0.86%91,575.44112.10
198740.17%91,733.71112.70
198754.50%95,860.30113.10
198763.12%98,853.15113.50
198776.45%105,233.14113.80
19878-3.03%102,044.13114.40
19879-11.85%89,947.94115.00
198710-12.30%78,881.27115.30
198711-1.33%77,828.45115.40
1987124.25%81,133.46115.40
198813.33%83,834.04115.70
198823.23%86,543.61116.00
19883-0.89%85,776.81116.50
19884-2.19%83,899.79117.10
198856.00%88,932.26117.50
19886-0.31%88,659.31118.00
19887-1.72%87,135.71118.50
198881.93%88,814.97119.00
198893.80%92,191.37119.80
198810-2.02%90,328.88120.20
1988112.33%92,429.89120.30
1988123.51%95,676.63120.50
198913.30%98,833.82121.10
19892-0.16%98,674.05121.60
198933.56%102,191.58122.30
198944.12%106,397.07123.10
198953.39%110,006.72123.80
198962.80%113,087.10124.10
198974.69%118,391.74124.40
198980.46%118,931.05124.60
198990.29%119,271.50125.00
198910-1.81%117,108.45125.60
1989112.74%120,313.37125.90
198912-2.21%117,652.97126.10
19901-2.53%114,679.66127.40
199022.71%117,784.23128.00
199030.20%118,015.07128.70
199043.85%122,559.74128.90
199053.17%126,444.83129.20
199060.17%126,659.44129.90
19907-7.86%116,702.45130.40
19908-4.34%111,636.33131.60
19909-2.32%109,051.09132.70
1990102.98%112,304.97133.50
1990114.59%117,455.96133.80
199012-0.69%116,651.18133.80
1991111.61%130,190.63134.60
199123.04%134,154.44134.80
199132.26%137,184.75135.00
19914-0.18%136,939.36135.20
199150.35%137,414.55135.60
199160.78%138,487.06136.00
199172.68%142,197.03136.20
19918-0.30%141,766.03136.60
199190.18%142,023.54137.20
1991100.02%142,045.98137.40
1991110.94%143,374.30137.80
1991127.36%153,923.82137.90
19921-0.60%152,998.98138.10
19922-1.01%151,450.05138.60
199230.26%151,850.34139.30
199242.07%154,991.13139.50
19925-1.33%152,931.11139.70
199261.91%155,855.36140.20
199270.94%157,323.08140.50
199280.38%157,918.06140.90
19929-1.18%156,051.38141.30
1992102.76%160,353.56141.80
1992113.27%165,599.05142.00
1992120.14%165,835.68141.90
199311.72%168,695.09142.60
199322.15%172,322.30143.10
19933-1.34%170,010.17143.60
199340.72%171,242.28144.00
199350.87%172,723.83144.20
199360.06%172,829.20144.40
199371.76%175,875.26144.40
199381.35%178,258.32144.80
199391.24%180,472.12145.10
1993100.01%180,485.74145.70
1993110.89%182,086.97145.80
1993121.74%185,247.78145.80
19941-0.08%185,107.55146.20
19942-1.42%182,471.95146.70
19943-3.35%176,365.75147.20
199441.06%178,232.13147.40
199451.11%180,207.11147.50
19946-0.52%179,272.06148.00
199473.08%184,797.36148.40
199480.82%186,308.01149.00
19949-0.44%185,480.79149.40
199410-0.37%184,794.73149.50
199411-1.03%182,899.28149.70
1994122.45%187,382.46149.70
199513.82%194,538.77150.30
199522.56%199,515.40150.90
199533.22%205,930.93151.40
199543.35%212,825.00151.90
199553.18%219,589.48152.20
199563.55%227,379.37152.50
199570.51%228,546.11152.50
199583.72%237,042.69152.90
199590.91%239,205.86153.20
1995102.36%244,847.26153.70
1995113.39%253,145.47153.60
1995120.16%253,557.03153.50
199615.90%268,528.04154.40
19962-0.20%267,989.11154.90
199630.20%268,517.16155.70
199642.35%274,840.27156.30
199651.28%278,354.36156.60
19966-3.48%268,677.19156.70
199673.08%276,941.04157.00
199682.02%282,545.57157.30
199694.12%294,185.02157.80
1996105.05%309,047.49158.30
1996111.20%312,750.58158.60
1996123.26%322,938.56158.60
199714.36%337,022.44159.10
19972-0.62%334,920.48159.60
19973-3.41%323,515.61160.00
199749.22%353,336.73160.20
199755.34%372,193.70160.10
199765.74%393,542.45160.30
199770.35%394,911.15160.50
199781.19%399,618.52160.80
199791.65%406,193.74161.20
199710-1.15%401,514.22161.60
1997112.63%412,092.58161.50
1997120.24%413,069.60161.30
199816.40%439,514.97161.60
199825.31%462,865.84161.90
199833.41%478,629.55162.20
19984-0.22%477,567.67162.50
199850.12%478,123.83162.80
199864.47%499,484.81163.00
19987-6.97%464,665.69163.20
19988-4.90%441,904.27163.40
199891.29%447,608.62163.60
19981010.97%496,730.91164.00
1998114.10%517,117.27164.00
1998125.05%543,219.73163.90
19991-0.07%542,857.35164.30
199922.92%558,727.84164.50
199934.25%582,473.89165.00
19994-0.10%581,898.22166.20
19995-0.61%578,338.36166.20
199964.52%604,493.06166.20
19997-3.77%581,677.16166.70
19998-0.60%578,198.64167.10
19999-1.27%570,841.23167.90
1999107.11%611,404.92168.20
1999112.81%628,577.63168.30
199912-0.12%627,830.05168.30
20001-2.48%612,271.94168.80
200023.94%636,401.29169.80
200031.42%645,467.88171.20
20004-2.84%627,144.37171.30
200053.16%646,983.96171.50
200060.85%652,485.54172.40
200070.94%658,617.02172.80
20008-1.08%651,506.26172.80
20009-5.21%617,535.22173.70
200010-0.77%612,764.37174.00
200011-3.32%592,420.14174.10
2000120.46%595,115.70174.00
20011-2.14%582,402.49175.10
20012-9.08%529,520.91175.80
200130.45%531,896.84176.20
200146.88%568,487.79176.90
20015-2.39%554,908.60177.70
20016-2.66%540,146.77178.00
20017-2.05%529,096.23177.50
20018-11.25%469,587.06177.50
200193.18%484,538.86178.30
2001105.05%509,023.32177.70
2001111.47%516,485.85177.40
200112-0.30%514,948.33176.70
20021-3.35%497,683.30177.10
200224.95%522,295.08177.80
20023-3.51%503,939.38178.80
20024-2.82%489,726.42179.80
20025-5.92%460,729.92179.80
20026-10.76%411,162.29179.90
200271.14%415,844.57180.10
20028-4.76%396,059.81180.70
20029-1.37%390,645.50181.00
2002106.63%416,528.02181.30
200211-1.04%412,216.70181.30
200212-0.22%411,299.45180.90
20031-6.41%384,915.26181.70
200321.31%389,949.56183.10
200335.29%410,561.74184.20
200345.31%432,371.65183.80
200355.70%457,034.93183.50
200360.60%459,758.41183.70
20037-0.17%458,993.72183.90
200383.16%473,503.34184.60
200392.03%483,105.18185.20
2003101.21%488,953.58185.00
2003113.06%503,934.19184.50
2003124.93%528,803.15184.30
200411.09%534,549.45185.20
20042-1.57%526,182.70186.20
200430.97%531,276.87187.40
20044-2.56%517,653.59188.00
200452.86%532,446.45189.10
20046-2.24%520,526.15189.70
20047-1.39%513,303.49189.40
200482.78%527,586.79189.50
200490.10%528,128.07189.90
2004104.77%553,340.36190.90
2004112.73%568,432.42191.00
200412-1.35%560,763.01190.30
200511.68%570,190.60190.70
20052-0.26%568,733.26191.80
20053-2.41%555,032.94193.30
200541.34%562,447.46194.60
200552.18%574,712.74194.40
200561.81%585,102.34194.50
200570.31%586,916.27195.40
200580.28%588,557.81196.40
20059-2.62%573,112.77198.80
2005103.96%595,816.87199.20
2005112.14%608,591.96197.60
2005121.47%617,518.61196.80
20061-0.02%617,415.86198.30
200621.49%626,591.51198.70
200630.80%631,593.78199.80
20064-0.79%626,625.44201.50
20065-2.71%609,670.25202.50
200660.72%614,060.13202.90
200672.29%628,132.91203.50
200682.53%644,032.04203.90
200693.62%667,319.68202.90
2006102.00%680,677.04201.80
2006112.15%695,299.78201.50
2006120.69%700,117.01201.80
200711.60%711,291.21202.42
20072-2.47%693,694.64203.50
200734.18%722,692.88205.35
200743.39%747,204.84206.69
200750.34%749,781.96207.95
200760.57%754,090.35208.35
20077-4.20%722,410.20208.30
200783.07%744,622.46207.92
200792.99%766,898.83208.49
200710-4.81%730,039.30208.94
2007111.24%739,078.80210.18
200712-6.64%690,039.46210.04
20081-1.56%679,247.48211.08
20082-2.63%661,406.12211.69
200834.24%689,474.89213.53
200842.56%707,143.40214.82
20085-4.25%677,113.98216.63
20086-6.08%635,955.80218.82
200872.11%649,377.87219.96
20088-4.85%617,899.04219.09
20089-20.19%493,123.07218.78
200810-8.61%450,688.12216.57
200811-0.35%449,105.22212.43
200812-1.10%444,185.02210.23
20091-6.70%414,413.49211.14
20092-5.69%390,843.99212.19
2009312.32%439,002.81212.71
200946.66%468,239.61213.24
200952.87%481,672.75213.86
200961.28%487,826.81215.69
200978.12%527,441.98215.35
200983.65%546,695.42215.83
200992.40%559,833.10215.97
2009102.09%571,557.83216.18
2009112.23%584,279.90216.33
2009121.36%592,208.39215.95
20101-2.90%575,043.38216.69
201025.94%609,218.42216.74
201034.09%634,122.84217.63
20104-5.88%596,821.22218.01
20105-3.54%575,672.48218.18
20106-0.16%574,756.74217.97
201070.86%579,720.40218.01
201083.37%599,263.68218.31
201094.58%626,694.59218.44
2010102.49%642,305.02218.71
2010113.71%666,158.53218.80
2010123.46%689,222.22219.18
201113.15%710,938.68220.22
20112-1.11%703,029.76221.31
201132.22%718,643.93223.47
201140.66%723,381.49224.91
20115-3.66%696,886.91225.96
201163.10%718,502.50225.72
20117-10.40%643,773.60225.92
20118-0.79%638,692.64226.55
201193.02%657,974.17226.89
2011101.77%669,601.38226.42
2011111.55%680,012.02226.23
2011124.78%712,533.99225.67
201214.16%742,193.99226.67
201222.88%763,597.66227.66
20123-0.04%763,305.88229.39
20124-3.09%739,712.46230.09
20125-1.15%731,187.93229.82
201262.92%752,546.57229.48
201273.39%778,040.59229.10
201283.02%801,546.49230.38
20129-0.22%799,806.06231.41
201210-2.84%777,111.61231.32
2012112.18%794,017.95230.22
2012124.27%827,912.68229.60
201312.33%847,228.06230.28
201322.72%870,293.45232.17
201331.45%882,945.71232.77
201344.57%923,334.03232.53
20135-1.12%913,013.23232.95
201363.25%942,727.03233.50
201370.25%945,107.69233.60
201381.19%956,377.79233.88
201392.12%976,629.56234.15
2013103.86%1,014,327.41233.55
2013111.52%1,029,762.04233.07
2013120.97%1,039,728.15233.05
20141-0.13%1,038,376.13233.92
201422.72%1,066,643.53234.78
201430.20%1,068,795.21236.29
201441.53%1,085,169.52237.07
201453.20%1,119,854.99237.90
201461.50%1,136,606.02238.34
20147-0.43%1,131,753.27238.25
201481.78%1,151,876.23237.85
20149-2.65%1,121,390.86238.03
2014105.71%1,185,373.52237.43
2014110.63%1,192,887.46236.15
201412-1.11%1,179,645.87234.81
201512.83%1,212,999.15233.71
201520.06%1,213,670.71234.72
201530.88%1,224,331.71236.12
201540.98%1,236,316.74236.60
20155-0.44%1,230,932.58237.81
20156-0.08%1,229,952.39238.64
20157-2.42%1,200,133.45238.65
20158-4.51%1,146,042.29238.32
201594.32%1,195,518.31237.95
2015102.93%1,230,576.52237.84
201511-1.10%1,217,003.63237.34
201512-6.42%1,138,876.60236.53
20161-0.55%1,132,613.82236.92
201626.36%1,204,678.95237.11
201632.83%1,238,786.54238.13
20164-0.30%1,235,016.11239.26
201651.07%1,248,187.44240.23
201663.30%1,289,345.65241.02
201671.20%1,304,808.22240.63
20168-0.44%1,299,084.40240.85
20169-0.51%1,292,511.28241.43
2016101.20%1,308,036.42241.73
2016113.95%1,359,651.06241.35
2016121.44%1,379,197.88241.43
201712.58%1,414,732.16242.84
201721.75%1,439,479.46243.60
20173-0.15%1,437,262.60243.80
201741.69%1,461,586.45244.52
201751.78%1,487,550.48244.73
201760.99%1,502,245.75244.96
201770.25%1,505,968.40244.79
201781.65%1,530,866.02245.52
201792.73%1,572,732.13246.82
2017101.59%1,597,731.79246.66
2017112.88%1,643,802.17246.67
2017124.86%1,723,722.16246.52
20181-2.89%1,673,963.70247.87
201820.06%1,675,044.72248.99
20183-1.66%1,647,172.44249.55
201841.96%1,679,483.73250.55
201852.11%1,714,970.71251.59
201861.58%1,742,079.97251.99
201872.45%1,784,774.95252.01
201881.68%1,814,754.67252.15
20189-3.85%1,744,905.02252.44
201810-2.08%1,708,678.90252.89
201811-5.56%1,613,633.43252.04
2018121.74%1,641,640.23251.23
201915.83%1,737,329.84251.71
201921.95%1,771,173.41252.78
201933.72%1,837,118.09254.20
20194-1.53%1,808,977.32255.55
201951.40%1,834,388.92256.09
201963.83%1,904,597.29256.14
20197-3.13%1,844,899.32256.57
201983.09%1,901,818.66256.56
201990.01%1,902,005.09256.76
2019104.43%1,986,334.15257.35
2019112.47%2,035,383.09257.21
2019123.35%2,103,495.10256.97
202010.12%2,106,062.98257.97
20202-18.92%1,707,644.11258.68
202034.32%1,781,390.68258.12
202045.89%1,886,267.66256.39
202056.51%2,009,031.08256.39
202063.48%2,078,873.74257.80
202075.89%2,201,392.26259.10
20208-0.63%2,187,589.48259.92
202091.73%2,225,347.30260.28
2020103.95%2,313,340.13260.39
2020114.26%2,411,890.28260.23
2020122.80%2,479,309.84260.47
202112.49%2,541,082.55261.58
202120.82%2,561,953.93263.01
202136.02%2,716,221.63264.88
202140.76%2,736,871.20267.05
202151.81%2,786,420.14269.20
202163.07%2,871,913.13271.70
202172.19%2,934,669.08273.00
20218-0.08%2,932,189.32273.57
202190.45%2,945,447.98274.31
2021104.74%3,085,201.94276.59
2021110.27%3,093,390.18277.95
202112-2.05%3,029,915.27278.80
20221-2.90%2,941,969.86281.15
20222-0.89%2,915,710.32283.72
202230.12%2,919,159.66287.50
20224-7.87%2,689,342.10289.11
20225-3.37%2,598,727.81292.30
202260.46%2,610,803.72296.31
202276.45%2,779,132.52296.28
20228-7.28%2,576,883.81296.17
20229-3.09%2,497,227.82296.81
2022101.19%2,527,051.42298.01
Click to show 1206 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 1921. This would result in a final amount of $2,232,941.52, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $2,527,051.42).

YearMonthContribution ($)Amount ($)
192114.164.13
192124.168.10
192134.1612.37
192144.1617.10
192154.1619.66
192164.1623.87
192174.1627.83
192184.1632.95
192194.1637.82
1921104.1644.45
1921114.1650.58
1921124.1654.93
192214.1660.67
192224.1667.58
192234.1676.44
192244.1684.12
192254.1687.84
192264.1693.08
192274.16101.34
192284.16108.72
192294.16115.87
1922104.16114.59
1922114.16119.03
1922124.32125.61
19231-131.57
19232-134.31
19233-130.22
19234-124.68
19235-120.56
19236-117.14
19237-118.35
19238-119.72
19239-118.60
192310-122.79
192311-127.60
192312-132.44
19241-133.70
19242-131.81
19243-129.46
19244-129.68
19245-132.82
19246-139.67
19247-145.16
19248-144.46
19249-143.30
192410-152.02
192411-160.94
192412-168.32
19251-170.48
19252-166.75
19253-165.74
19254-171.82
19255-175.67
19256-181.33
19257-184.57
19258-189.63
19259-196.70
192510-203.63
192511-207.78
192512-211.78
19261-212.97
19262-199.37
19263-194.68
19264-196.92
19265-207.20
19266-216.84
19267-226.37
19268-230.77
19269-226.53
192610-230.47
192611-236.71
192612-236.14
19271-241.74
19272-246.49
19273-253.59
19274-263.40
19275-267.88
19276-274.91
19277-290.65
19278-308.28
19279-304.68
192710-312.78
192711-321.28
192712-323.75
19281-321.06
19282-339.51
19283-362.13
19284-374.57
19285-357.47
19286-361.37
19287-374.35
19288-401.95
19289-411.43
192810-440.57
192811-443.63
192812-477.76
19291-481.63
19292-491.51
19293-490.03
19294-498.83
19295-509.81
19296-556.72
19297-589.88
19298-614.92
19299-551.43
192910-407.01
192911-424.80
192912-432.56
19301-461.27
19302-480.29
19303-512.41
19304-483.45
19305-436.22
19306-428.54
19307-424.70
19308-426.16
19309-369.18
193010-344.07
193011-322.78
193012-334.26
19311-361.47
19312-370.07
19313-336.47
19314-305.65
19315-297.46
19316-308.94
19317-301.26
19318-257.97
19319-225.08
193110-229.70
193111-188.13
193112-186.53
19321-186.44
19322-188.57
19323-144.78
19324-128.40
19325-112.49
19326-119.44
19327-180.78
19328-199.52
19329-173.15
193210-172.57
193211-168.01
193212-175.69
19331-155.90
19332-156.42
19333-174.00
19334-225.02
19335-264.58
19336-286.97
19337-273.65
19338-272.32
19339-246.79
193310-253.70
193311-259.59
193312-275.39
19341-296.73
19342-282.49
19343-288.19
19344-259.87
19345-264.30
19346-252.79
19347-243.90
19348-239.00
19349-241.89
193410-249.66
193411-252.30
193412-253.32
19351-246.69
19352-232.06
19353-250.48
19354-271.18
19355-282.50
19356-298.32
19357-319.52
19358-327.29
19359-337.06
193510-369.79
193511-370.88
193512-392.47
19361-416.15
19362-426.18
19363-427.95
19364-406.47
19365-425.06
19366-451.56
19367-461.93
19368-468.60
19369-494.61
193610-509.96
193611-502.82
193612-520.20
19371-537.38
19372-538.62
19373-508.32
19374-487.55
19375-471.28
19376-501.41
19377-508.61
19378-438.61
19379-376.78
193710-345.64
193711-342.11
193712-353.19
19381-346.82
19382-325.95
19383-314.72
19384-319.62
19385-329.00
19386-396.40
19387-400.59
19388-384.23
19389-428.86
193810-430.86
193811-419.87
193812-414.99
19391-413.09
19392-414.19
19393-363.49
19394-378.38
19395-386.60
19396-397.56
19397-393.32
19398-436.80
19399-442.85
193910-436.61
193911-427.99
193912-427.36
19401-426.39
19402-425.76
19403-431.81
19404-374.20
19405-343.91
19406-357.22
19407-366.69
19408-384.13
19409-389.76
194010-400.87
194011-386.48
194012-389.26
19411-366.98
19412-371.30
19413-361.85
19414-356.10
19415-370.73
19416-391.90
19417-392.20
19418-395.58
19419-382.00
194110-366.40
194111-344.85
194112-353.87
19421-345.10
19422-328.66
19423-317.31
19424-323.25
19425-341.83
19426-356.81
19427-356.97
19428-362.90
19429-391.82
194210-400.26
194211-404.49
194212-430.79
19431-458.51
19432-476.92
19433-494.98
19434-516.57
19435-527.83
19436-540.88
19437-516.33
19438-529.52
19439-526.87
194310-504.70
194311-513.64
194312-532.47
19441-531.17
19442-548.38
19443-541.20
19444-553.13
19445-581.57
19446-599.13
19447-592.80
19448-585.54
19449-602.43
194410-600.72
194411-616.33
194412-637.19
19451-660.98
19452-663.06
19453-682.30
19454-710.69
19455-726.23
19456-713.92
19457-718.97
19458-770.59
19459-805.37
194510-834.41
194511-851.30
194512-887.90
19461-893.10
19462-869.19
19463-928.02
19464-932.83
19465-929.67
19466-905.99
19467-891.28
19468-762.74
19469-748.46
194610-748.36
194611-773.76
194612-780.88
19471-814.22
19472-784.31
19473-758.45
19474-748.11
19475-777.45
19476-829.48
19477-816.55
19478-798.86
19479-823.04
194710-817.03
194711-807.86
194712-800.87
19481-765.25
19482-779.93
19483-843.79
19484-888.76
19485-929.53
19486-911.34
19487-888.66
19488-882.64
19489-910.78
194810-864.32
194811-862.96
194812-877.02
19491-847.84
19492-860.48
19493-864.04
19494-862.46
19495-820.09
19496-871.45
19497-907.80
19498-924.78
19499-953.84
194910-972.41
194911-1,003.94
194912-1,030.34
19501-1,056.33
19502-1,070.86
19503-1,107.12
19504-1,150.46
19505-1,175.36
19506-1,096.33
19507-1,169.10
19508-1,217.14
19509-1,274.60
195010-1,279.40
195011-1,281.89
195012-1,384.60
19511-1,444.26
19512-1,428.19
19513-1,455.71
19514-1,464.86
19515-1,448.08
19516-1,482.35
19517-1,555.96
19518-1,604.75
19519-1,605.20
195110-1,569.03
195111-1,625.72
195112-1,688.05
19521-1,665.57
19522-1,678.05
19523-1,681.46
19524-1,689.19
19525-1,744.00
19526-1,802.72
19527-1,818.59
19528-1,798.43
19529-1,769.46
195210-1,834.36
195211-1,917.07
195212-1,936.02
19531-1,921.05
19532-1,939.44
19533-1,852.69
19534-1,871.26
19535-1,813.11
19536-1,847.81
19537-1,864.42
19538-1,787.85
19539-1,850.72
195310-1,900.84
195311-1,935.76
195312-1,994.29
19541-2,047.67
19542-2,100.55
19543-2,194.03
19544-2,291.06
19545-2,319.08
19546-2,422.45
19547-2,480.45
19548-2,548.41
19549-2,617.49
195410-2,730.10
195411-2,865.33
195412-2,927.47
19551-3,035.92
19552-3,022.67
19553-3,137.78
19554-3,135.31
19555-3,327.98
19556-3,582.37
19557-3,571.65
19558-3,743.68
19559-3,566.80
195510-3,818.83
195511-3,866.08
195512-3,773.76
19561-3,809.59
19562-4,084.11
19563-4,144.67
19564-4,027.03
19565-4,016.47
19566-4,247.38
19567-4,235.28
19568-4,104.46
19569-4,065.32
195610-4,036.36
195611-4,109.37
195612-4,032.83
19571-3,871.69
19572-3,934.43
19573-4,038.46
19574-4,206.47
19575-4,288.67
19576-4,388.26
19577-4,159.84
19578-4,004.29
19579-3,768.17
195710-3,700.33
195711-3,712.09
195712-3,798.54
19581-3,825.20
19582-3,917.73
19583-3,952.85
19584-4,093.49
19585-4,205.45
19586-4,334.59
19587-4,510.33
19588-4,643.10
19589-4,845.49
195810-5,006.67
195811-5,114.93
195812-5,332.56
19591-5,265.10
19592-5,412.85
19593-5,517.66
19594-5,615.07
19595-5,581.03
19596-5,816.97
19597-5,798.44
19598-5,583.71
19599-5,593.58
195910-5,631.01
195911-5,826.02
195912-5,739.46
19601-5,532.31
19602-5,472.66
19603-5,559.36
19604-5,524.64
19605-5,744.97
19606-5,618.80
19607-5,702.57
19608-5,547.42
19609-5,454.56
196010-5,647.69
196011-5,799.65
196012-6,114.40
19611-6,381.85
19612-6,598.64
19613-6,791.26
19614-6,877.05
19615-6,802.77
19616-6,800.87
19617-7,061.95
19618-7,023.70
19619-7,118.03
196110-7,457.70
196111-7,544.44
196112-7,281.35
19621-7,420.39
19622-7,445.69
19623-7,226.42
19624-6,707.20
19625-5,941.72
19626-6,103.18
19627-6,287.68
19628-6,250.37
19629-6,071.84
196210-6,509.07
196211-6,810.03
196212-7,092.42
19631-7,205.59
19632-7,197.78
19633-7,556.10
19634-7,727.59
19635-7,744.33
19636-7,649.71
19637-7,881.58
19638-8,109.64
19639-8,150.18
196310-8,125.20
196311-8,319.66
196312-8,596.72
19641-8,723.94
19642-8,904.62
19643-9,055.38
19644-9,165.89
19645-9,133.75
19646-9,495.54
19647-9,379.16
19648-9,563.50
19649-9,751.92
196410-9,843.29
196411-9,696.59
196412-9,970.11
19651-10,067.33
19652-10,101.11
19653-10,258.45
19654-10,436.19
19655-9,965.79
19656-9,976.05
19657-10,187.40
19658-10,553.75
19659-10,817.26
196510-10,933.65
196511-10,910.51
196512-11,126.59
19661-11,078.70
19662-10,650.80
19663-11,004.51
19664-10,453.45
19665-10,394.96
19666-10,396.87
19667-9,797.03
19668-9,481.09
19669-9,427.58
196610-9,928.75
196611-9,999.82
196612-10,412.85
19671-10,801.25
19672-11,085.72
19673-11,306.60
19674-11,539.26
19675-11,424.81
19676-11,652.44
19677-11,868.20
19678-12,064.49
19679-12,076.24
196710-11,728.24
196711-12,093.19
196712-12,091.07
19681-11,576.36
19682-11,395.86
19683-12,268.98
19684-12,582.78
19685-12,952.80
19686-12,959.14
19687-12,708.52
19688-13,154.29
19689-13,511.72
196810-13,753.00
196811-13,929.77
196812-13,374.65
19691-13,342.75
19692-13,087.39
19693-13,385.03
19694-13,855.32
19695-13,166.52
19696-12,612.83
19697-12,577.06
19698-12,656.11
19699-12,826.51
196910-12,954.45
196911-12,303.17
196912-12,230.70
19701-11,839.79
19702-12,078.04
19703-11,746.17
19704-10,430.72
19705-10,402.57
19706-10,456.92
19707-10,797.38
19708-11,479.91
19709-11,765.71
197010-11,790.03
197011-12,634.01
197012-13,153.35
19711-13,699.35
19712-14,087.30
19713-14,604.84
19714-14,443.04
19715-14,212.55
19716-14,146.75
19717-13,932.13
19718-14,278.54
19719-14,012.43
197110-13,399.88
197111-14,359.79
197112-14,994.86
19721-15,307.79
19722-15,708.80
19723-15,906.56
19724-15,783.14
19725-15,864.60
19726-15,784.66
19727-16,381.90
19728-16,183.61
19729-16,251.16
197210-17,105.03
197211-17,500.42
197212-17,673.56
19731-17,085.89
19732-16,856.03
19733-16,580.72
19734-16,154.63
19735-15,833.19
19736-16,024.81
19737-15,762.73
19738-16,077.25
19739-16,758.17
197310-15,609.76
197311-14,547.47
197312-14,794.84
19741-14,428.98
19742-15,089.05
19743-14,362.27
19744-13,973.67
19745-14,037.57
19746-12,444.74
19747-11,976.23
19748-10,776.98
19749-11,033.14
197410-11,446.16
197411-10,748.88
197412-11,676.80
19751-12,938.78
19752-13,582.31
19753-13,784.28
19754-14,709.57
19755-15,135.36
19756-15,200.74
19757-14,137.26
19758-14,016.71
19759-14,713.52
197510-15,013.93
197511-14,836.82
197512-16,253.03
19761-16,932.11
19762-17,067.97
19763-17,254.94
19764-17,188.81
19765-17,343.61
19766-17,805.88
19767-17,706.05
19768-18,137.71
19769-17,573.95
197610-17,509.51
197611-18,172.51
197612-18,074.88
19771-17,646.76
19772-17,637.20
19773-17,426.67
19774-17,437.91
19775-17,594.81
19776-17,820.45
19777-17,450.03
19778-17,244.93
19779-16,865.92
197710-17,031.39
197711-17,017.75
197712-16,440.78
19781-16,280.98
19782-16,324.23
19783-17,112.69
19784-18,054.63
19785-18,176.24
19786-18,164.92
19787-19,496.07
19788-19,573.99
19789-19,031.11
197810-17,996.26
197811-18,342.30
197812-19,109.98
19791-18,908.00
19792-19,350.66
19793-19,821.06
19794-19,445.84
19795-19,915.97
19796-20,198.95
19797-21,211.79
19798-21,538.55
19799-20,816.46
197910-20,749.34
197911-21,663.14
197912-22,380.73
19801-23,364.55
19802-21,313.65
19803-21,065.98
19804-22,126.89
19805-23,645.39
19806-24,820.43
19807-25,690.31
19808-26,418.84
19809-27,297.20
198010-28,556.89
198011-28,201.42
198012-28,204.23
19811-27,338.31
19812-28,471.02
19813-28,839.38
19814-28,372.97
19815-28,616.29
19816-28,039.32
19817-28,264.35
19818-25,917.65
19819-26,365.31
198110-27,167.80
198111-27,488.21
198112-26,167.64
19821-25,666.82
19822-24,962.38
19823-26,327.66
19824-26,477.63
19825-25,082.10
19826-25,143.26
19827-25,342.89
19828-28,408.46
19829-30,931.53
198210-32,323.42
198211-32,761.57
198212-34,047.70
19831-34,772.92
19832-36,117.11
19833-37,633.09
19834-39,297.98
19835-39,987.07
19836-40,270.23
19837-39,300.85
19838-40,603.22
19839-40,866.30
198310-40,399.84
198311-40,348.08
198312-40,983.94
19841-38,888.76
19842-39,060.79
19843-39,258.91
19844-39,159.75
19845-38,435.96
19846-38,086.79
19847-41,593.27
19848-42,178.48
19849-42,004.53
198410-42,544.67
198411-42,243.64
198412-44,228.06
19851-46,787.70
19852-46,563.91
19853-47,041.05
19854-48,327.92
19855-49,541.42
19856-50,654.73
19857-49,719.99
19858-48,782.77
19859-49,512.35
198510-52,691.30
198511-55,481.05
198512-55,898.11
19861-59,082.77
19862-62,735.72
19863-64,455.57
19864-64,772.58
19865-66,802.06
19866-65,597.01
19867-67,093.19
19868-65,445.22
19869-65,386.40
198610-67,696.47
198611-68,853.36
198612-73,448.20
19871-78,194.33
19872-81,616.44
19873-80,917.47
19874-81,057.32
19875-84,703.64
19876-87,348.16
19877-92,985.63
19878-90,167.76
19879-79,479.38
198710-69,700.70
198711-68,770.41
198712-71,690.78
19881-74,077.05
19882-76,471.27
19883-75,793.71
19884-74,135.14
19885-78,581.92
19886-78,340.73
19887-76,994.46
19888-78,478.27
19889-81,461.72
198810-79,815.99
198811-81,672.47
198812-84,541.34
19891-87,331.08
19892-87,189.90
19893-90,298.05
19894-94,014.09
19895-97,203.63
19896-99,925.50
19897-104,612.76
19898-105,089.31
19899-105,390.13
198910-103,478.83
198911-106,310.74
198912-103,959.97
19901-101,332.71
19902-104,075.96
19903-104,279.93
19904-108,295.67
19905-111,728.60
19906-111,918.23
19907-103,120.08
19908-98,643.58
19909-96,359.22
199010-99,234.40
199011-103,785.89
199012-103,074.78
19911-115,038.44
19912-118,540.92
19913-121,218.56
19914-121,001.73
19915-121,421.61
19916-122,369.29
19917-125,647.49
19918-125,266.65
19919-125,494.19
199110-125,514.01
199111-126,687.74
199112-136,009.46
19921-135,192.25
19922-133,823.59
19923-134,177.30
19924-136,952.55
19925-135,132.28
19926-137,716.19
19927-139,013.09
19928-139,538.82
19929-137,889.40
199210-141,690.88
199211-146,325.87
199212-146,534.96
19931-149,061.58
19932-152,266.63
19933-150,223.60
19934-151,312.31
19935-152,621.44
19936-152,714.54
19937-155,406.08
19938-157,511.79
19939-159,467.94
199310-159,479.97
199311-160,894.85
199312-163,687.79
19941-163,563.88
19942-161,235.02
19943-155,839.49
19944-157,488.65
19945-159,233.77
19946-158,407.55
19947-163,289.79
19948-164,624.63
19949-163,893.68
199410-163,287.47
199411-161,612.62
199412-165,574.02
19951-171,897.45
19952-176,294.88
19953-181,963.74
19954-188,055.45
19955-194,032.64
19956-200,915.91
19957-201,946.86
19958-209,454.56
19959-211,365.98
199510-216,350.80
199511-223,683.23
199512-224,046.89
19961-237,275.50
19962-236,799.30
19963-237,265.89
19964-242,853.09
19965-245,958.19
19966-237,407.30
19967-244,709.36
19968-249,661.61
19969-259,946.41
199610-273,079.12
199611-276,351.23
199612-285,353.48
19971-297,798.21
19972-295,940.89
19973-285,863.37
19974-312,213.78
19975-328,876.08
19976-347,740.16
19977-348,949.57
19978-353,109.07
19979-358,919.04
199710-354,784.14
199711-364,131.34
199712-364,994.65
19981-388,362.19
19982-408,995.38
19983-422,924.43
19984-421,986.14
19985-422,477.58
19986-441,352.46
19987-410,585.75
19988-390,473.41
19989-395,513.87
199810-438,919.08
199811-456,932.78
199812-479,997.31
19991-479,677.11
19992-493,700.51
19993-514,682.90
19994-514,174.23
19995-511,028.68
19996-534,139.37
19997-513,978.89
19998-510,905.21
19999-504,404.09
199910-540,246.79
199911-555,420.87
199912-554,760.29
20001-541,012.90
20002-562,333.97
20003-570,345.35
20004-554,154.42
20005-571,684.98
20006-576,546.27
20007-581,964.13
20008-575,680.96
20009-545,663.63
200010-541,448.03
200011-523,471.55
200012-525,853.39
20011-514,619.80
20012-467,892.83
20013-469,992.23
20014-502,324.56
20015-490,325.77
20016-477,281.99
20017-467,517.57
20018-414,934.35
20019-428,145.99
200110-449,780.84
200111-456,374.84
200112-455,016.27
20021-439,760.62
20022-461,507.97
20023-445,288.59
20024-432,729.80
20025-407,108.05
20026-363,309.33
20027-367,446.66
20028-349,964.54
20029-345,180.38
200210-368,050.57
200211-364,241.02
200212-363,430.52
20031-340,117.05
20032-344,565.43
20033-362,778.67
20034-382,050.25
20035-403,843.10
20036-406,249.60
20037-405,573.91
20038-418,394.84
20039-426,879.17
200310-432,046.91
200311-445,284.01
200312-467,258.60
20041-472,336.12
20042-464,943.13
20043-469,444.42
20044-457,406.67
20045-470,477.88
20046-459,944.92
20047-453,562.86
20048-466,183.81
20049-466,662.09
200410-488,940.06
200411-502,275.64
200412-495,498.83
20051-503,829.19
20052-502,541.46
20053-490,435.64
20054-496,987.23
20055-507,825.02
20056-517,005.43
20057-518,608.24
20058-520,058.74
20059-506,411.26
200510-526,472.95
200511-537,761.22
200512-545,648.95
20061-545,558.15
20062-553,665.90
20063-558,085.99
20064-553,695.88
20065-538,714.02
20066-542,592.98
20067-555,027.90
20068-569,076.62
20069-589,653.94
200610-601,456.70
200611-614,377.59
200612-618,634.16
20071-628,507.86
20072-612,959.26
20073-638,582.55
20074-660,241.69
20075-662,518.88
20076-666,325.84
20077-638,332.77
20078-657,959.87
20079-677,643.61
200710-645,073.96
200711-653,061.40
200712-609,729.49
20081-600,193.53
20082-584,428.63
20083-609,230.62
20084-624,842.79
20085-598,308.33
20086-561,940.33
20087-573,800.28
20088-545,985.10
20089-435,731.14
200810-398,234.95
200811-396,836.28
200812-392,488.72
20091-366,182.14
20092-345,355.76
20093-387,909.63
20094-413,743.72
20095-425,613.46
20096-431,051.27
20097-466,055.85
20098-483,068.49
20099-494,677.15
200910-505,037.30
200911-516,278.71
200912-523,284.44
20101-508,117.18
20102-538,314.77
20103-560,320.70
20104-527,360.41
20105-508,673.06
20106-507,863.90
20107-512,249.87
20108-529,518.61
20109-553,756.98
201010-567,550.60
201011-588,627.93
201012-609,007.36
20111-628,196.36
20112-621,207.92
20113-635,004.84
20114-639,191.01
20115-615,780.00
20116-634,879.87
20117-568,848.26
20118-564,358.65
20119-581,396.11
201110-591,670.09
201111-600,869.08
201112-629,606.00
20121-655,814.03
20122-674,726.64
20123-674,468.82
20124-653,621.31
20125-646,088.91
20126-664,961.73
20127-687,488.64
20128-708,258.82
20129-706,720.94
201210-686,667.78
201211-701,606.47
201212-731,556.38
20131-748,623.75
20132-769,004.69
20133-780,184.41
20134-815,872.15
20135-806,752.54
20136-833,008.11
20137-835,111.70
20138-845,070.13
20139-862,964.91
201310-896,275.31
201311-909,913.58
201312-918,719.80
20141-917,525.13
20142-942,502.64
20143-944,403.89
20144-958,872.49
20145-989,521.10
20146-1,004,322.57
20147-1,000,034.61
20148-1,017,815.56
20149-990,878.22
201410-1,047,414.29
201411-1,054,053.72
201412-1,042,353.24
20151-1,071,824.72
20152-1,072,418.12
20153-1,081,838.34
20154-1,092,428.50
20155-1,087,670.97
20156-1,086,804.86
20157-1,060,456.39
20158-1,012,660.61
20159-1,056,378.37
201510-1,087,356.35
201511-1,075,363.14
201512-1,006,328.89
20161-1,000,795.00
20162-1,064,472.86
20163-1,094,610.85
20164-1,091,279.24
20165-1,102,917.63
20166-1,139,285.66
20167-1,152,948.62
20168-1,147,890.97
20169-1,142,082.86
201610-1,155,801.11
201611-1,201,408.60
201612-1,218,680.47
20171-1,250,079.11
20172-1,271,946.20
20173-1,269,987.35
20174-1,291,480.28
20175-1,314,422.49
20176-1,327,407.47
20177-1,330,696.85
20178-1,352,696.77
20179-1,389,690.31
201710-1,411,780.40
201711-1,452,488.89
201712-1,523,107.42
20181-1,479,140.09
20182-1,480,095.29
20183-1,455,466.92
20184-1,484,017.67
20185-1,515,374.51
20186-1,539,328.67
20187-1,577,054.61
20188-1,603,545.15
20189-1,541,824.92
201810-1,509,814.97
201811-1,425,831.33
201812-1,450,578.57
20191-1,535,131.38
20192-1,565,036.08
20193-1,623,305.81
20194-1,598,440.20
20195-1,620,894.27
20196-1,682,931.47
20197-1,630,181.43
20198-1,680,476.24
20199-1,680,640.97
201910-1,755,155.42
201911-1,798,495.82
201912-1,858,680.64
20201-1,860,949.66
20202-1,508,900.62
20203-1,574,064.21
20204-1,666,735.13
20205-1,775,210.78
20206-1,836,924.83
20207-1,945,184.08
20208-1,932,987.72
20209-1,966,351.12
202010-2,044,102.93
202011-2,131,183.36
202012-2,190,756.33
20211-2,245,339.65
20212-2,263,781.92
20213-2,400,095.23
20214-2,418,341.51
20215-2,462,123.72
20216-2,537,666.63
20217-2,593,118.76
20218-2,590,927.60
20219-2,602,643.16
202110-2,726,131.91
202111-2,733,367.17
202112-2,677,279.76
20221-2,599,569.84
20222-2,576,366.51
20223-2,579,414.40
20224-2,376,344.06
20225-2,296,275.88
20226-2,306,946.34
20227-2,455,684.26
20228-2,276,974.19
20229-2,206,588.93
202210-2,232,941.52
Click to show 1206 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 1921 to 2022
Start Value
Average monthly close
$7.11
End Value
Average monthly close
$4,573.82
Change in price+64,229.33%
+6.61% / yr
Change incl. dividends+2,526,951.42%
+10.47% / yr
Change incl. dividends, inflation-adjusted+154,464.56%
+7.48% / yr
Final amount, nominal
($100 base)
$2,527,051.42
Final amount, inflation-adjusted
($100 base)
$154,564.56