S&P 500: $100 in 1927 → $945,615.26 in 2022

$

Stock market returns since 1927

If you invested $100 in the S&P 500 at the beginning of 1927, you would have about $945,615.26 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 945,515.26%, or 10.02% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 55,111.55% cumulatively, or 6.81% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $704,856.34.

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 $945,515.26, or 945,515.26%. This means by 2022 you would have $945,615.26 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 1927 was 17.400 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 95 years.

Adjusted for inflation, the $945,615.26 nominal end value of the original $100 investment would have a real return of roughly $55,111.55 in 1927 dollars. This means the inflation-adjusted return is 55,111.55% as opposed to the original 945,515.26%.

For more information on inflation, see our U.S. inflation calculator for 1927.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1150-month period between 1927 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
192712.37%102.3717.50
192721.97%104.3917.40
192732.88%107.3917.30
192743.87%111.5517.30
192751.70%113.4417.40
192762.62%116.4217.60
192775.73%123.0917.30
192786.06%130.5517.20
19279-1.17%129.0317.30
1927102.66%132.4617.40
1927112.72%136.0617.30
1927120.77%137.1017.30
19281-0.83%135.9617.30
192825.75%143.7817.10
192836.66%153.3617.10
192843.44%158.6217.10
19285-4.57%151.3817.20
192861.09%153.0317.10
192873.59%158.5317.10
192887.37%170.2217.10
192892.36%174.2317.30
1928107.08%186.5717.20
1928110.70%187.8717.20
1928127.69%202.3217.10
192910.81%203.9617.10
192922.05%208.1517.10
19293-0.30%207.5217.00
192941.80%211.2516.90
192952.20%215.9017.00
192969.20%235.7617.10
192975.96%249.8117.30
192984.24%260.4117.30
19299-10.32%233.5217.30
192910-26.19%172.3617.30
1929114.37%179.9017.30
1929121.83%183.1817.20
193016.64%195.3417.10
193024.12%203.3917.00
193036.69%217.0016.90
19304-5.65%204.7317.00
19305-9.77%184.7316.90
19306-1.76%181.4816.80
19307-0.90%179.8516.60
193080.34%180.4716.50
19309-13.37%156.3416.60
193010-6.80%145.7116.50
193011-6.19%136.6916.40
1930123.56%141.5616.10
193118.14%153.0815.90
193122.38%156.7215.70
19313-9.08%142.4915.60
19314-9.16%129.4415.50
19315-2.68%125.9715.30
193163.86%130.8315.10
19317-2.49%127.5815.10
19318-14.37%109.2515.10
19319-12.75%95.3215.00
1931102.05%97.2814.90
193111-18.10%79.6714.70
193112-0.85%78.9914.60
19321-0.05%78.9614.30
193221.14%79.8614.10
19323-23.22%61.3114.00
19324-11.31%54.3713.90
19325-12.39%47.6413.70
193266.18%50.5813.60
1932751.35%76.5613.60
1932810.37%84.4913.50
19329-13.22%73.3313.40
193210-0.34%73.0813.30
193211-2.64%71.1513.20
1932124.57%74.4013.10
19331-11.27%66.0212.90
193320.33%66.2412.70
1933311.24%73.6912.60
1933429.32%95.2912.60
1933517.58%112.0512.60
193368.46%121.5312.70
19337-4.64%115.8913.10
19338-0.48%115.3213.20
19339-9.38%104.5113.20
1933102.80%107.4413.20
1933112.32%109.9313.20
1933126.08%116.6213.20
193417.75%125.6613.20
19342-4.80%119.6313.30
193432.02%122.0513.30
19344-9.83%110.0513.30
193451.70%111.9313.30
19346-4.36%107.0513.40
19347-3.51%103.2913.40
19348-2.01%101.2113.40
193491.21%102.4413.60
1934103.21%105.7313.50
1934111.06%106.8513.50
1934120.40%107.2813.40
19351-2.62%104.4713.60
19352-5.93%98.2713.70
193537.94%106.0713.70
193548.27%114.8413.80
193554.17%119.6413.80
193565.60%126.3313.70
193577.10%135.3113.70
193582.43%138.6013.70
193592.99%142.7413.70
1935109.71%156.6013.70
1935110.29%157.0613.80
1935125.82%166.2113.80
193616.03%176.2313.80
193622.41%180.4813.80
193630.41%181.2313.70
19364-5.02%172.1313.70
193654.57%180.0113.70
193666.23%191.2313.80
193672.30%195.6213.90
193681.44%198.4514.00
193695.55%209.4614.00
1936103.10%215.9614.00
193611-1.40%212.9314.00
1936123.46%220.3014.00
193713.30%227.5714.10
193720.23%228.1014.10
19373-5.62%215.2714.20
19374-4.09%206.4714.30
19375-3.34%199.5814.40
193766.39%212.3414.40
193771.44%215.3914.50
19378-13.76%185.7514.50
19379-14.10%159.5614.60
193710-8.27%146.3714.60
193711-1.02%144.8814.50
1937123.24%149.5714.40
19381-1.80%146.8714.20
19382-6.02%138.0314.10
19383-3.44%133.2814.10
193841.56%135.3514.20
193852.93%139.3214.10
1938620.49%167.8714.10
193871.06%169.6414.10
19388-4.08%162.7114.10
1938911.62%181.6214.10
1938100.47%182.4614.00
193811-2.55%177.8114.00
193812-1.16%175.7414.00
19391-0.46%174.9414.00
193920.27%175.4013.90
19393-12.24%153.9313.90
193944.10%160.2413.80
193952.17%163.7213.80
193962.84%168.3613.80
19397-1.07%166.5613.80
1939811.06%184.9813.80
193991.38%187.5414.10
193910-1.41%184.9014.00
193911-1.97%181.2514.00
193912-0.15%180.9814.00
19401-0.23%180.5713.90
19402-0.15%180.3014.00
194031.42%182.8614.00
19404-13.34%158.4714.00
19405-8.09%145.6414.00
194063.87%151.2814.10
194072.65%155.2914.00
194084.76%162.6714.00
194091.47%165.0614.00
1940102.85%169.7614.00
194011-3.59%163.6714.00
1940120.72%164.8514.10
19411-5.72%155.4114.10
194121.18%157.2414.10
19413-2.55%153.2414.20
19414-1.59%150.8014.30
194154.11%157.0014.40
194165.71%165.9614.70
194170.08%166.0914.70
194180.86%167.5214.90
19419-3.43%161.7715.10
194110-4.08%155.1615.30
194111-5.88%146.0415.40
1941122.62%149.8615.50
19421-2.48%146.1415.70
19422-4.76%139.1815.80
19423-3.45%134.3816.00
194241.87%136.8916.10
194255.75%144.7616.30
194264.38%151.1016.30
194270.05%151.1716.40
194281.66%153.6816.50
194297.97%165.9316.50
1942102.15%169.5016.70
1942111.06%171.2916.80
1942126.50%182.4316.90
194316.43%194.1716.90
194324.01%201.9716.90
194333.79%209.6117.20
194344.36%218.7617.40
194352.18%223.5317.50
194362.47%229.0617.50
19437-4.54%218.6617.40
194382.55%224.2417.30
19439-0.50%223.1217.40
194310-4.21%213.7317.40
1943111.77%217.5217.40
1943123.67%225.4917.40
19441-0.24%224.9417.40
194423.24%232.2317.40
19443-1.31%229.1917.40
194442.20%234.2417.50
194455.14%246.2917.50
194463.02%253.7217.60
19447-1.06%251.0417.70
19448-1.23%247.9717.70
194492.88%255.1217.70
194410-0.28%254.3917.70
1944112.60%261.0117.70
1944123.38%269.8417.80
194513.73%279.9117.80
194520.31%280.8017.80
194532.90%288.9417.80
194544.16%300.9717.80
194552.19%307.5517.90
19456-1.70%302.3318.10
194570.71%304.4718.10
194587.18%326.3318.10
194594.51%341.0618.10
1945103.61%353.3618.10
1945112.02%360.5118.10
1945124.30%376.0118.20
194610.59%378.2118.20
19462-2.68%368.0918.10
194636.77%393.0018.30
194640.52%395.0418.40
19465-0.34%393.7018.50
19466-2.55%383.6718.70
19467-1.62%377.4419.80
19468-14.42%323.0120.20
19469-1.87%316.9620.40
194610-0.01%316.9220.80
1946113.39%327.6721.30
1946120.92%330.6921.50
194714.27%344.8121.50
19472-3.67%332.1421.50
19473-3.30%321.1921.90
19474-1.36%316.8121.90
194753.92%329.2421.90
194766.69%351.2722.00
19477-1.56%345.8022.20
19478-2.17%338.3022.50
194793.03%348.5423.00
194710-0.73%346.0023.00
194711-1.12%342.1223.10
194712-0.86%339.1623.40
19481-4.45%324.0723.70
194821.92%330.2923.50
194838.19%357.3323.40
194845.33%376.3823.80
194854.59%393.6423.90
19486-1.96%385.9424.10
19487-2.49%376.3324.40
19488-0.68%373.7824.50
194893.19%385.7024.50
194810-5.10%366.0324.40
194811-0.16%365.4524.20
1948121.63%371.4024.10
19491-3.33%359.0424.00
194921.49%364.4023.80
194930.41%365.9123.80
19494-0.18%365.2423.90
19495-4.91%347.2923.80
194966.26%369.0523.90
194974.17%384.4423.70
194981.87%391.6323.80
194993.14%403.9423.90
1949101.95%411.8023.70
1949113.24%425.1523.80
1949122.63%436.3323.60
195012.52%447.3423.50
195021.38%453.4923.50
195033.39%468.8523.60
195043.91%487.2023.60
195052.16%497.7523.70
19506-6.72%464.2823.80
195076.64%495.1024.10
195084.11%515.4424.30
195094.72%539.7724.40
1950100.38%541.8024.60
1950110.19%542.8624.70
1950128.01%586.3625.00
195114.31%611.6225.40
19512-1.11%604.8225.70
195131.93%616.4725.80
195140.63%620.3425.80
19515-1.15%613.2425.90
195162.37%627.7525.90
195174.97%658.9225.90
195183.14%679.5925.90
195190.03%679.7826.10
195110-2.25%664.4626.20
1951113.61%688.4726.40
1951123.83%714.8626.50
19521-1.33%705.3426.50
195220.75%710.6326.30
195230.20%712.0726.30
195240.46%715.3526.40
195253.24%738.5626.40
195263.37%763.4226.50
195270.88%770.1526.70
19528-1.11%761.6126.70
19529-1.61%749.3426.70
1952103.67%776.8226.70
1952114.51%811.8526.70
1952120.99%819.8826.70
19531-0.77%813.5326.60
195320.96%821.3226.50
19533-4.47%784.5826.60
195341.00%792.4526.60
19535-3.11%767.8226.70
195361.91%782.5226.80
195370.90%789.5526.80
19538-4.11%757.1326.90
195393.52%783.7526.90
1953102.71%804.9827.00
1953111.84%819.7626.90
1953123.02%844.5526.90
195412.68%867.1526.90
195422.58%889.5526.90
195434.45%929.1426.90
195444.42%970.2326.80
195451.22%982.1026.90
195464.46%1,025.8726.90
195472.39%1,050.4326.90
195482.74%1,079.2126.90
195492.71%1,108.4726.80
1954104.30%1,156.1526.80
1954114.95%1,213.4226.80
1954122.17%1,239.7426.70
195513.70%1,285.6626.70
19552-0.44%1,280.0526.70
195533.81%1,328.8026.70
19554-0.08%1,327.7526.70
195556.15%1,409.3526.70
195567.64%1,517.0826.70
19557-0.30%1,512.5426.80
195584.82%1,585.3926.80
19559-4.72%1,510.4826.90
1955107.07%1,617.2126.90
1955111.24%1,637.2226.90
195512-2.39%1,598.1326.80
195610.95%1,613.3026.80
195627.21%1,729.5626.80
195631.48%1,755.2026.80
19564-2.84%1,705.3826.90
19565-0.26%1,700.9127.00
195665.75%1,798.7027.20
19567-0.28%1,793.5827.40
19568-3.09%1,738.1727.30
19569-0.95%1,721.6027.40
195610-0.71%1,709.3327.50
1956111.81%1,740.2527.50
195612-1.86%1,707.8427.60
19571-4.00%1,639.6027.60
195721.62%1,666.1727.70
195732.64%1,710.2227.80
195744.16%1,781.3727.90
195751.95%1,816.1828.00
195762.32%1,858.3628.10
19577-5.21%1,761.6328.30
19578-3.74%1,695.7528.30
19579-5.90%1,595.7628.30
195710-1.80%1,567.0328.30
1957110.32%1,572.0128.40
1957122.33%1,608.6228.40
195810.70%1,619.9128.60
195822.42%1,659.1028.60
195830.90%1,673.9728.80
195843.56%1,733.5328.90
195852.74%1,780.9428.90
195863.07%1,835.6328.90
195874.05%1,910.0529.00
195882.94%1,966.2828.90
195894.36%2,051.9928.90
1958103.33%2,120.2428.90
1958112.16%2,166.0929.00
1958124.25%2,258.2528.90
19591-1.27%2,229.6829.00
195922.81%2,292.2528.90
195931.94%2,336.6428.90
195941.77%2,377.8929.00
19595-0.61%2,363.4829.00
195964.23%2,463.4029.10
19597-0.32%2,455.5529.20
19598-3.70%2,364.6129.20
195990.18%2,368.7929.30
1959100.67%2,384.6429.40
1959113.46%2,467.2329.40
195912-1.49%2,430.5729.40
19601-3.61%2,342.8429.30
19602-1.08%2,317.5829.40
196031.58%2,354.3029.40
19604-0.62%2,339.6029.50
196053.99%2,432.9029.50
19606-2.20%2,379.4729.60
196071.49%2,414.9529.60
19608-2.72%2,349.2429.60
19609-1.67%2,309.9229.60
1960103.54%2,391.7129.80
1960112.69%2,456.0629.80
1960125.43%2,589.3529.80
196114.37%2,702.6129.80
196123.40%2,794.4229.80
196132.92%2,875.9929.80
196141.26%2,912.3229.80
19615-1.08%2,880.8629.80
19616-0.03%2,880.0629.80
196173.84%2,990.6230.00
19618-0.54%2,974.4229.90
196191.34%3,014.3730.00
1961104.77%3,158.2230.00
1961111.16%3,194.9530.00
196112-3.49%3,083.5430.00
196211.91%3,142.4230.00
196220.34%3,153.1330.10
19623-2.94%3,060.2730.10
19624-7.19%2,840.3930.20
19625-11.41%2,516.2330.20
196262.72%2,584.6030.20
196273.02%2,662.7330.30
19628-0.59%2,646.9330.30
19629-2.86%2,571.3330.40
1962107.20%2,756.4930.40
1962114.62%2,883.9430.40
1962124.15%3,003.5330.40
196311.60%3,051.4530.40
19632-0.11%3,048.1530.40
196334.98%3,199.8930.50
196342.27%3,272.5130.50
196350.22%3,279.6030.50
19636-1.22%3,239.5330.60
196373.03%3,337.7230.70
196382.89%3,434.3030.70
196390.50%3,451.4730.70
196310-0.31%3,440.8930.80
1963112.39%3,523.2430.80
1963123.33%3,640.5730.90
196411.48%3,694.4530.90
196422.07%3,770.9730.90
196431.69%3,834.8130.90
196441.22%3,881.6130.90
19645-0.35%3,868.0030.90
196463.96%4,021.2131.00
19647-1.23%3,971.9231.10
196481.97%4,049.9931.00
196491.97%4,129.7831.10
1964100.94%4,168.4831.10
196411-1.49%4,106.3531.20
1964122.82%4,222.1831.20
196510.98%4,263.3531.20
196520.34%4,277.6631.20
196531.56%4,344.2931.30
196541.73%4,419.5631.40
19655-4.51%4,220.3531.40
196560.10%4,224.7031.60
196572.12%4,314.2031.60
196583.60%4,469.3431.60
196592.50%4,580.9431.60
1965101.08%4,630.2331.70
196511-0.21%4,620.4331.70
1965121.98%4,711.9331.80
19661-0.43%4,691.6531.80
19662-3.86%4,510.4432.00
196633.32%4,660.2332.10
19664-5.01%4,426.8732.30
19665-0.56%4,402.1032.30
196660.02%4,402.9132.40
19667-5.77%4,148.8932.50
19668-3.22%4,015.0932.70
19669-0.56%3,992.4332.70
1966105.32%4,204.6732.90
1966110.72%4,234.7732.90
1966124.13%4,409.6732.90
196713.73%4,574.1632.90
196722.63%4,694.6332.90
196731.99%4,788.1733.00
196742.06%4,886.6933.10
19675-0.99%4,838.2233.20
196761.99%4,934.6233.30
196771.85%5,025.9933.40
196781.65%5,109.1233.50
196790.10%5,114.1033.60
196710-2.88%4,966.7233.70
1967113.11%5,121.2733.80
196712-0.02%5,120.3833.90
19681-4.26%4,902.4034.10
19682-1.56%4,825.9634.20
196837.66%5,195.7234.30
196842.56%5,328.6134.40
196852.94%5,485.3034.50
196860.05%5,487.9934.70
19687-1.93%5,381.8634.90
196883.51%5,570.6335.00
196892.72%5,722.0035.10
1968101.79%5,824.1835.30
1968111.29%5,899.0435.40
196812-3.99%5,663.9535.50
19691-0.24%5,650.4435.60
19692-1.91%5,542.3035.80
196932.27%5,668.3536.10
196943.51%5,867.5136.30
19695-4.97%5,575.8136.40
19696-4.21%5,341.3336.60
19697-0.28%5,326.1836.80
196980.63%5,359.6637.00
196991.35%5,431.8237.10
1969101.00%5,486.0037.30
196911-5.03%5,210.2037.50
196912-0.59%5,179.5137.70
19701-3.20%5,013.9637.80
197022.01%5,114.8638.00
19703-2.75%4,974.3238.20
19704-11.20%4,417.2438.50
19705-0.27%4,405.3238.60
197060.52%4,428.3438.80
197073.26%4,572.5239.00
197086.32%4,861.5639.00
197092.49%4,982.5939.20
1970100.21%4,992.8939.40
1970117.16%5,350.3039.60
1970124.11%5,570.2339.80
197114.15%5,801.4639.80
197122.83%5,965.7539.90
197133.67%6,184.9240.00
19714-1.11%6,116.4040.10
19715-1.60%6,018.7940.30
19716-0.46%5,990.9240.60
19717-1.52%5,900.0440.70
197182.49%6,046.7340.80
19719-1.86%5,934.0440.80
197110-4.37%5,674.6340.90
1971117.16%6,081.1440.90
1971124.42%6,350.0841.10
197212.09%6,482.6141.10
197222.62%6,652.4341.30
197231.26%6,736.1741.40
19724-0.78%6,683.9141.50
197250.52%6,718.4041.60
19726-0.50%6,684.5541.70
197273.78%6,937.4841.90
19728-1.21%6,853.5042.00
197290.42%6,882.1142.10
1972105.25%7,243.7142.30
1972112.31%7,411.1542.40
1972120.99%7,484.4742.50
19731-3.33%7,235.6042.60
19732-1.35%7,138.2642.90
19733-1.63%7,021.6743.30
19734-2.57%6,841.2343.60
19735-1.99%6,705.1043.90
197361.21%6,786.2544.20
19737-1.64%6,675.2744.30
197382.00%6,808.4645.10
197394.24%7,096.8245.20
197310-6.85%6,610.4845.60
197311-6.81%6,160.6245.90
1973121.70%6,265.3846.20
19741-2.47%6,110.4446.60
197424.57%6,389.9747.20
19743-4.82%6,082.1947.80
19744-2.71%5,917.6348.00
197450.46%5,944.6948.60
19746-11.35%5,270.1549.00
19747-3.76%5,071.7449.40
19748-10.01%4,563.8850.00
197492.38%4,672.3650.60
1974103.74%4,847.2751.10
197411-6.09%4,551.9851.50
1974128.63%4,944.9451.90
1975110.81%5,479.3752.10
197524.97%5,751.8952.50
197531.49%5,837.4252.70
197546.71%6,229.2752.90
197552.89%6,409.5853.20
197560.43%6,437.2753.60
19757-7.00%5,986.9054.20
19758-0.85%5,935.8654.30
197594.97%6,230.9454.60
1975102.04%6,358.1654.90
197511-1.18%6,283.1655.30
1975129.55%6,882.9055.50
197614.18%7,170.4855.60
197620.80%7,228.0155.80
197631.10%7,307.1955.90
19764-0.38%7,279.1956.10
197650.90%7,344.7456.50
197662.67%7,540.5156.80
19767-0.56%7,498.2357.10
197682.44%7,681.0357.40
19769-3.11%7,442.2957.60
197610-0.37%7,415.0057.90
1976113.79%7,695.7758.00
197612-0.54%7,654.4258.20
19771-2.37%7,473.1258.50
19772-0.05%7,469.0759.10
19773-1.19%7,379.9259.50
197740.06%7,384.6860.00
197750.90%7,451.1260.30
197761.28%7,546.6860.70
19777-2.08%7,389.8161.00
19778-1.18%7,302.9661.20
19779-2.20%7,142.4561.40
1977100.98%7,212.5261.60
197711-0.08%7,206.7461.90
197712-3.39%6,962.4162.10
19781-0.97%6,894.7462.50
197820.27%6,913.0562.90
197834.83%7,246.9563.40
197845.50%7,645.8563.90
197850.67%7,697.3564.50
19786-0.06%7,692.5565.20
197877.33%8,256.2765.70
197880.40%8,289.2766.00
19789-2.77%8,059.3766.50
197810-5.44%7,621.1367.10
1978111.92%7,767.6767.40
1978124.19%8,092.7767.70
19791-1.06%8,007.2468.30
197922.34%8,194.7069.10
197932.43%8,393.9069.80
19794-1.89%8,235.0070.60
197952.42%8,434.1071.50
197961.42%8,553.9372.30
197975.01%8,982.8673.10
197981.54%9,121.2373.80
19799-3.35%8,815.4474.60
197910-0.32%8,787.0275.20
1979114.40%9,174.0075.90
1979123.31%9,477.8876.70
198014.40%9,894.5277.80
19802-8.78%9,025.9978.90
19803-1.16%8,921.1180.10
198045.04%9,370.3981.00
198056.86%10,013.4481.80
198064.97%10,511.0682.70
198073.50%10,879.4482.70
198082.84%11,187.9683.30
198093.32%11,559.9384.00
1980104.61%12,093.3984.80
198011-1.24%11,942.8585.50
1980120.01%11,944.0486.30
19811-3.07%11,577.3487.00
198124.14%12,057.0387.90
198131.29%12,213.0288.50
19814-1.62%12,015.5089.10
198150.86%12,118.5489.80
19816-2.02%11,874.2090.60
198170.80%11,969.5091.60
19818-8.30%10,975.7192.30
198191.73%11,165.2993.20
1981103.04%11,505.1393.40
1981111.18%11,640.8293.70
198112-4.80%11,081.5894.00
19821-1.91%10,869.4994.30
19822-2.74%10,571.1794.60
198235.47%11,149.3494.50
198240.57%11,212.8694.90
19825-5.27%10,621.8795.80
198260.24%10,647.7797.00
198270.79%10,732.3197.50
1982812.10%12,030.5397.70
198298.88%13,099.0197.90
1982104.50%13,688.4698.20
1982111.36%13,874.0098.00
1982123.93%14,418.6697.60
198312.13%14,725.7897.80
198323.87%15,295.0297.90
198334.20%15,937.0197.90
198344.42%16,642.0798.60
198351.75%16,933.8999.20
198360.71%17,053.8099.50
19837-2.41%16,643.2999.90
198383.31%17,194.82100.20
198390.65%17,306.23100.70
198310-1.14%17,108.69101.00
198311-0.13%17,086.77101.20
1983121.58%17,356.05101.30
19841-5.11%16,468.77101.90
198420.44%16,541.62102.40
198430.51%16,625.52102.60
19844-0.25%16,583.53103.10
19845-1.85%16,277.02103.40
19846-0.91%16,129.15103.70
198479.21%17,614.09104.10
198481.41%17,861.91104.50
19849-0.41%17,788.25105.00
1984101.29%18,016.99105.30
198411-0.71%17,889.51105.30
1984124.70%18,729.88105.30
198515.79%19,813.85105.50
19852-0.48%19,719.08106.00
198531.02%19,921.14106.40
198542.74%20,466.11106.90
198552.51%20,980.01107.30
198562.25%21,451.47107.60
19857-1.85%21,055.63107.80
19858-1.88%20,658.73108.00
198591.50%20,967.69108.30
1985106.42%22,313.93108.70
1985115.29%23,495.34109.00
1985120.75%23,671.96109.30
198615.70%25,020.61109.60
198626.18%26,567.58109.30
198632.74%27,295.91108.80
198640.49%27,430.16108.60
198653.13%28,289.61108.90
19866-1.80%27,779.29109.50
198672.28%28,412.90109.50
19868-2.46%27,715.01109.70
19869-0.09%27,690.10110.20
1986103.53%28,668.38110.30
1986111.71%29,158.30110.40
1986126.67%31,104.15110.50
198716.46%33,114.06111.20
198724.38%34,563.27111.60
19873-0.86%34,267.26112.10
198740.17%34,326.49112.70
198754.50%35,870.64113.10
198763.12%36,990.56113.50
198776.45%39,377.93113.80
19878-3.03%38,184.62114.40
19879-11.85%33,658.26115.00
198710-12.30%29,517.14115.30
198711-1.33%29,123.18115.40
1987124.25%30,359.91115.40
198813.33%31,370.45115.70
198823.23%32,384.37116.00
19883-0.89%32,097.43116.50
19884-2.19%31,395.06117.10
198856.00%33,278.19117.50
19886-0.31%33,176.06118.00
19887-1.72%32,605.93118.50
198881.93%33,234.30119.00
198893.80%34,497.74119.80
198810-2.02%33,800.80120.20
1988112.33%34,586.99120.30
1988123.51%35,801.92120.50
198913.30%36,983.33121.10
19892-0.16%36,923.54121.60
198933.56%38,239.79122.30
198944.12%39,813.47123.10
198953.39%41,164.19123.80
198962.80%42,316.86124.10
198974.69%44,301.84124.40
198980.46%44,503.65124.60
198990.29%44,631.05125.00
198910-1.81%43,821.64125.60
1989112.74%45,020.91125.90
198912-2.21%44,025.40126.10
19901-2.53%42,912.79127.40
199022.71%44,074.51128.00
199030.20%44,160.89128.70
199043.85%45,861.50128.90
199053.17%47,315.29129.20
199060.17%47,395.59129.90
19907-7.86%43,669.72130.40
19908-4.34%41,773.99131.60
19909-2.32%40,806.60132.70
1990102.98%42,024.19133.50
1990114.59%43,951.68133.80
199012-0.69%43,650.53133.80
1991111.61%48,716.95134.60
199123.04%50,200.20134.80
199132.26%51,334.13135.00
19914-0.18%51,242.31135.20
199150.35%51,420.12135.60
199160.78%51,821.45136.00
199172.68%53,209.71136.20
19918-0.30%53,048.43136.60
199190.18%53,144.79137.20
1991100.02%53,153.19137.40
1991110.94%53,650.25137.80
1991127.36%57,597.84137.90
19921-0.60%57,251.77138.10
19922-1.01%56,672.17138.60
199230.26%56,821.95139.30
199242.07%57,997.23139.50
19925-1.33%57,226.38139.70
199261.91%58,320.62140.20
199270.94%58,869.84140.50
199280.38%59,092.48140.90
19929-1.18%58,393.97141.30
1992102.76%60,003.83141.80
1992113.27%61,966.68142.00
1992120.14%62,055.23141.90
199311.72%63,125.21142.60
199322.15%64,482.50143.10
19933-1.34%63,617.31143.60
199340.72%64,078.36144.00
199350.87%64,632.75144.20
199360.06%64,672.18144.40
199371.76%65,812.01144.40
199381.35%66,703.74144.80
199391.24%67,532.14145.10
1993100.01%67,537.24145.70
1993110.89%68,136.41145.80
1993121.74%69,319.18145.80
19941-0.08%69,266.70146.20
19942-1.42%68,280.47146.70
19943-3.35%65,995.55147.20
199441.06%66,693.94147.40
199451.11%67,432.97147.50
19946-0.52%67,083.08148.00
199473.08%69,150.63148.40
199480.82%69,715.91149.00
19949-0.44%69,406.37149.40
199410-0.37%69,149.65149.50
199411-1.03%68,440.38149.70
1994122.45%70,117.97149.70
199513.82%72,795.84150.30
199522.56%74,658.08150.90
199533.22%77,058.75151.40
199543.35%79,638.49151.90
199553.18%82,169.74152.20
199563.55%85,084.70152.50
199570.51%85,521.29152.50
199583.72%88,700.68152.90
199590.91%89,510.13153.20
1995102.36%91,621.13153.70
1995113.39%94,726.29153.60
1995120.16%94,880.30153.50
199615.90%100,482.41154.40
19962-0.20%100,280.74154.90
199630.20%100,478.34155.70
199642.35%102,844.43156.30
199651.28%104,159.39156.60
19966-3.48%100,538.22156.70
199673.08%103,630.53157.00
199682.02%105,727.73157.30
199694.12%110,083.18157.80
1996105.05%115,644.67158.30
1996111.20%117,030.36158.60
1996123.26%120,842.67158.60
199714.36%126,112.81159.10
19972-0.62%125,326.27159.60
19973-3.41%121,058.60160.00
199749.22%132,217.57160.20
199755.34%139,273.79160.10
199765.74%147,262.43160.30
199770.35%147,774.60160.50
199781.19%149,536.08160.80
199791.65%151,996.51161.20
199710-1.15%150,245.45161.60
1997112.63%154,203.84161.50
1997120.24%154,569.44161.30
199816.40%164,465.22161.60
199825.31%173,203.05161.90
199833.41%179,101.78162.20
19984-0.22%178,704.43162.50
199850.12%178,912.54162.80
199864.47%186,905.76163.00
19987-6.97%173,876.54163.20
19988-4.90%165,359.29163.40
199891.29%167,493.84163.60
19981010.97%185,875.26164.00
1998114.10%193,503.77164.00
1998125.05%203,271.24163.90
19991-0.07%203,135.63164.30
199922.92%209,074.32164.50
199934.25%217,960.03165.00
19994-0.10%217,744.62166.20
19995-0.61%216,412.53166.20
199964.52%226,199.54166.20
19997-3.77%217,661.90166.70
19998-0.60%216,360.24167.10
19999-1.27%213,607.12167.90
1999107.11%228,785.93168.20
1999112.81%235,211.91168.30
199912-0.12%234,932.17168.30
20001-2.48%229,110.37168.80
200023.94%238,139.50169.80
200031.42%241,532.19171.20
20004-2.84%234,675.59171.30
200053.16%242,099.51171.50
200060.85%244,158.18172.40
200070.94%246,452.57172.80
20008-1.08%243,791.74172.80
20009-5.21%231,079.88173.70
200010-0.77%229,294.64174.00
200011-3.32%221,681.89174.10
2000120.46%222,690.56174.00
20011-2.14%217,933.31175.10
20012-9.08%198,145.18175.80
200130.45%199,034.24176.20
200146.88%212,726.47176.90
20015-2.39%207,645.18177.70
20016-2.66%202,121.34178.00
20017-2.05%197,986.26177.50
20018-11.25%175,718.11177.50
200193.18%181,313.03178.30
2001105.05%190,475.04177.70
2001111.47%193,267.50177.40
200112-0.30%192,692.16176.70
20021-3.35%186,231.64177.10
200224.95%195,441.29177.80
20023-3.51%188,572.64178.80
20024-2.82%183,254.19179.80
20025-5.92%172,403.79179.80
20026-10.76%153,855.73179.90
200271.14%155,607.82180.10
20028-4.76%148,204.42180.70
20029-1.37%146,178.41181.00
2002106.63%155,863.57181.30
200211-1.04%154,250.28181.30
200212-0.22%153,907.05180.90
20031-6.41%144,034.17181.70
200321.31%145,917.99183.10
200335.29%153,631.01184.20
200345.31%161,792.21183.80
200355.70%171,021.14183.50
200360.60%172,040.25183.70
20037-0.17%171,754.11183.90
200383.16%177,183.57184.60
200392.03%180,776.55185.20
2003101.21%182,965.00185.00
2003113.06%188,570.70184.50
2003124.93%197,876.59184.30
200411.09%200,026.84185.20
20042-1.57%196,896.03186.20
200430.97%198,802.25187.40
20044-2.56%193,704.46188.00
200452.86%199,239.91189.10
20046-2.24%194,779.37189.70
20047-1.39%192,076.66189.40
200482.78%197,421.44189.50
200490.10%197,623.98189.90
2004104.77%207,058.35190.90
2004112.73%212,705.75191.00
200412-1.35%209,835.88190.30
200511.68%213,363.66190.70
20052-0.26%212,818.32191.80
20053-2.41%207,691.70193.30
200541.34%210,466.20194.60
200552.18%215,055.83194.40
200561.81%218,943.59194.50
200570.31%219,622.35195.40
200580.28%220,236.62196.40
20059-2.62%214,457.12198.80
2005103.96%222,952.93199.20
2005112.14%227,733.34197.60
2005121.47%231,073.66196.80
20061-0.02%231,035.21198.30
200621.49%234,468.71198.70
200630.80%236,340.55199.80
20064-0.79%234,481.41201.50
20065-2.71%228,136.83202.50
200660.72%229,779.51202.90
200672.29%235,045.50203.50
200682.53%240,994.91203.90
200693.62%249,709.07202.90
2006102.00%254,707.36201.80
2006112.15%260,179.15201.50
2006120.69%261,981.74201.80
200711.60%266,163.09202.42
20072-2.47%259,578.51203.50
200734.18%270,429.56205.35
200743.39%279,601.87206.69
200750.34%280,566.22207.95
200760.57%282,178.41208.35
20077-4.20%270,323.79208.30
200783.07%278,635.55207.92
200792.99%286,971.30208.49
200710-4.81%273,178.57208.94
2007111.24%276,561.13210.18
200712-6.64%258,210.75210.04
20081-1.56%254,172.42211.08
20082-2.63%247,496.24211.69
200834.24%257,999.49213.53
200842.56%264,611.00214.82
20085-4.25%253,374.07216.63
20086-6.08%237,972.80218.82
200872.11%242,995.30219.96
20088-4.85%231,216.02219.09
20089-20.19%184,525.21218.78
200810-8.61%168,646.18216.57
200811-0.35%168,053.86212.43
200812-1.10%166,212.74210.23
20091-6.70%155,072.32211.14
20092-5.69%146,252.68212.19
2009312.32%164,273.57212.71
200946.66%175,213.89213.24
200952.87%180,240.54213.86
200961.28%182,543.37215.69
200978.12%197,367.25215.35
200983.65%204,571.83215.83
200992.40%209,487.91215.97
2009102.09%213,875.27216.18
2009112.23%218,635.83216.33
2009121.36%221,602.65215.95
20101-2.90%215,179.55216.69
201025.94%227,967.75216.74
201034.09%237,286.91217.63
20104-5.88%223,328.76218.01
20105-3.54%215,414.96218.18
20106-0.16%215,072.29217.97
201070.86%216,929.68218.01
201083.37%224,242.72218.31
201094.58%234,507.28218.44
2010102.49%240,348.66218.71
2010113.71%249,274.58218.80
2010123.46%257,904.94219.18
201113.15%266,031.18220.22
20112-1.11%263,071.68221.31
201132.22%268,914.46223.47
201140.66%270,687.24224.91
20115-3.66%260,773.05225.96
201163.10%268,861.54225.72
20117-10.40%240,898.20225.92
20118-0.79%238,996.92226.55
201193.02%246,212.01226.89
2011101.77%250,562.88226.42
2011111.55%254,458.51226.23
2011124.78%266,628.14225.67
201214.16%277,726.82226.67
201222.88%285,736.01227.66
20123-0.04%285,626.83229.39
20124-3.09%276,798.24230.09
20125-1.15%273,608.39229.82
201262.92%281,600.73229.48
201273.39%291,140.52229.10
201283.02%299,936.36230.38
20129-0.22%299,285.09231.41
201210-2.84%290,792.89231.32
2012112.18%297,119.20230.22
2012124.27%309,802.51229.60
201312.33%317,030.27230.28
201322.72%325,661.27232.17
201331.45%330,395.70232.77
201344.57%345,508.89232.53
20135-1.12%341,646.88232.95
201363.25%352,765.70233.50
201370.25%353,656.54233.60
201381.19%357,873.77233.88
201392.12%365,451.93234.15
2013103.86%379,558.35233.55
2013111.52%385,333.95233.07
2013120.97%389,063.24233.05
20141-0.13%388,557.32233.92
201422.72%399,134.89234.78
201430.20%399,940.04236.29
201441.53%406,067.26237.07
201453.20%419,046.46237.90
201461.50%425,314.65238.34
20147-0.43%423,498.77238.25
201481.78%431,028.72237.85
20149-2.65%419,621.18238.03
2014105.71%443,563.31237.43
2014110.63%446,375.00236.15
201412-1.11%441,420.04234.81
201512.83%453,900.74233.71
201520.06%454,152.03234.72
201530.88%458,141.35236.12
201540.98%462,626.11236.60
20155-0.44%460,611.38237.81
20156-0.08%460,244.59238.64
20157-2.42%449,086.43238.65
20158-4.51%428,845.68238.32
201594.32%447,359.46237.95
2015102.93%460,478.14237.84
201511-1.10%455,399.20237.34
201512-6.42%426,164.30236.53
20161-0.55%423,820.78236.92
201626.36%450,787.34237.11
201632.83%463,550.31238.13
20164-0.30%462,139.42239.26
201651.07%467,068.09240.23
201663.30%482,469.38241.02
201671.20%488,255.42240.63
20168-0.44%486,113.59240.85
20169-0.51%483,653.95241.43
2016101.20%489,463.41241.73
2016113.95%508,777.46241.35
2016121.44%516,091.82241.43
201712.58%529,388.64242.84
201721.75%538,649.01243.60
20173-0.15%537,819.47243.80
201741.69%546,921.38244.52
201751.78%556,637.04244.73
201760.99%562,135.97244.96
201770.25%563,528.98244.79
201781.65%572,845.59245.52
201792.73%588,511.77246.82
2017101.59%597,866.57246.66
2017112.88%615,105.97246.67
2017124.86%645,011.80246.52
20181-2.89%626,392.33247.87
201820.06%626,796.84248.99
20183-1.66%616,367.12249.55
201841.96%628,457.90250.55
201852.11%641,737.03251.59
201861.58%651,881.24251.99
201872.45%667,857.57252.01
201881.68%679,075.90252.15
20189-3.85%652,938.36252.44
201810-2.08%639,382.65252.89
201811-5.56%603,816.91252.04
2018121.74%614,296.98251.23
201915.83%650,103.75251.71
201921.95%662,767.92252.78
201933.72%687,444.22254.20
20194-1.53%676,914.03255.55
201951.40%686,422.97256.09
201963.83%712,694.74256.14
20197-3.13%690,355.94256.57
201983.09%711,654.99256.56
201990.01%711,724.75256.76
2019104.43%743,280.43257.35
2019112.47%761,634.41257.21
2019123.35%787,121.72256.97
202010.12%788,082.61257.97
20202-18.92%638,995.44258.68
202034.32%666,591.19258.12
202045.89%705,835.85256.39
202056.51%751,773.56256.39
202063.48%777,908.48257.80
202075.89%823,754.55259.10
20208-0.63%818,589.59259.92
202091.73%832,718.46260.28
2020103.95%865,645.12260.39
2020114.26%902,522.30260.23
2020122.80%927,750.50260.47
202112.49%950,865.67261.58
202120.82%958,675.68263.01
202136.02%1,016,402.20264.88
202140.76%1,024,129.21267.05
202151.81%1,042,670.28269.20
202163.07%1,074,661.50271.70
202172.19%1,098,144.60273.00
20218-0.08%1,097,216.68273.57
202190.45%1,102,178.03274.31
2021104.74%1,154,473.55276.59
2021110.27%1,157,537.57277.95
202112-2.05%1,133,785.44278.80
20221-2.90%1,100,876.53281.15
20222-0.89%1,091,050.29283.72
202230.12%1,092,341.02287.50
20224-7.87%1,006,343.96289.11
20225-3.37%972,436.36292.30
202260.46%976,955.12296.31
202276.45%1,039,943.27296.28
20228-7.28%964,262.39296.17
20229-3.09%934,455.35296.81
2022101.19%945,615.26298.01
Click to show 1134 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 1927. This would result in a final amount of $704,856.34, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $945,615.26).

YearMonthContribution ($)Amount ($)
192714.164.24
192724.168.55
192734.1613.06
192744.1617.86
192754.1622.38
192764.1627.22
192774.1633.16
192784.1639.57
192794.1643.20
1927104.1648.61
1927114.1654.18
1927124.1658.78
192814.1662.40
192824.1670.37
192834.1679.48
192844.1686.50
192854.1686.51
192864.1691.64
192874.1699.23
192884.16111.00
192894.16117.86
1928104.16130.65
1928114.16135.73
1928124.32150.81
19291-152.03
19292-155.15
19293-154.68
19294-157.46
19295-160.93
19296-175.73
19297-186.20
19298-194.11
19299-174.07
192910-128.48
192911-134.09
192912-136.54
19301-145.61
19302-151.61
19303-161.75
19304-152.61
19305-137.70
19306-135.27
19307-134.06
19308-134.52
19309-116.54
193010-108.61
193011-101.89
193012-105.51
19311-114.10
19312-116.82
19313-106.21
19314-96.48
19315-93.90
19316-97.52
19317-95.10
19318-81.43
19319-71.05
193110-72.51
193111-59.39
193112-58.88
19321-58.85
19322-59.52
19323-45.70
19324-40.53
19325-35.51
19326-37.70
19327-57.07
19328-62.98
19329-54.66
193210-54.47
193211-53.04
193212-55.46
19331-49.21
19332-49.38
19333-54.93
19334-71.03
19335-83.52
19336-90.59
19337-86.38
19338-85.96
19339-77.90
193310-80.08
193311-81.94
193312-86.93
19341-93.67
19342-89.17
19343-90.97
19344-82.03
19345-83.43
19346-79.80
19347-76.99
19348-75.44
19349-76.36
193410-78.81
193411-79.64
193412-79.96
19351-77.87
19352-73.25
19353-79.07
19354-85.60
19355-89.18
19356-94.17
19357-100.86
19358-103.31
19359-106.40
193510-116.73
193511-117.07
193512-123.89
19361-131.36
19362-134.53
19363-135.09
19364-128.31
19365-134.18
19366-142.54
19367-145.82
19368-147.92
19369-156.13
193610-160.97
193611-158.72
193612-164.21
19371-169.63
19372-170.02
19373-160.46
19374-153.90
19375-148.76
19376-158.28
19377-160.55
19378-138.45
19379-118.94
193710-109.10
193711-107.99
193712-111.49
19381-109.48
19382-102.89
19383-99.35
19384-100.89
19385-103.85
19386-125.13
19387-126.45
19388-121.29
19389-135.38
193810-136.01
193811-132.54
193812-131.00
19391-130.40
19392-130.75
19393-114.74
19394-119.44
19395-122.03
19396-125.50
19397-124.16
19398-137.88
19399-139.79
193910-137.82
193911-135.10
193912-134.90
19401-134.59
19402-134.40
19403-136.31
19404-118.12
19405-108.56
19406-112.76
19407-115.75
19408-121.26
19409-123.03
194010-126.54
194011-122.00
194012-122.88
19411-115.84
19412-117.21
19413-114.22
19414-112.41
19415-117.02
19416-123.71
19417-123.80
19418-124.87
19419-120.58
194110-115.66
194111-108.86
194112-111.70
19421-108.93
19422-103.75
19423-100.16
19424-102.04
19425-107.90
19426-112.63
19427-112.68
19428-114.55
19429-123.68
194210-126.35
194211-127.68
194212-135.99
19431-144.73
19432-150.55
19433-156.25
19434-163.06
19435-166.62
19436-170.74
19437-162.99
19438-167.15
19439-166.31
194310-159.32
194311-162.14
194312-168.08
19441-167.67
19442-173.10
19443-170.84
19444-174.60
19445-183.58
19446-189.12
19447-187.13
19448-184.83
19449-190.16
194410-189.62
194411-194.55
194412-201.14
19451-208.65
19452-209.30
19453-215.38
19454-224.34
19455-229.25
19456-225.36
19457-226.95
19458-243.25
19459-254.22
194510-263.39
194511-268.73
194512-280.28
19461-281.92
19462-274.37
19463-292.94
19464-294.46
19465-293.46
19466-285.99
19467-281.34
19468-240.77
19469-236.26
194610-236.23
194611-244.25
194612-246.49
19471-257.02
19472-247.58
19473-239.41
19474-236.15
19475-245.41
19476-261.84
19477-257.76
19478-252.17
19479-259.80
194710-257.91
194711-255.01
194712-252.81
19481-241.56
19482-246.20
19483-266.35
19484-280.55
19485-293.42
19486-287.68
19487-280.52
19488-278.62
19489-287.50
194810-272.83
194811-272.40
194812-276.84
19491-267.63
19492-271.62
19493-272.74
19494-272.25
19495-258.87
19496-275.09
19497-286.56
19498-291.92
19499-301.09
194910-306.95
194911-316.91
194912-325.24
19501-333.44
19502-338.03
19503-349.48
19504-363.16
19505-371.02
19506-346.07
19507-369.04
19508-384.21
19509-402.34
195010-403.86
195011-404.64
195012-437.07
19511-455.90
19512-450.83
19513-459.51
19514-462.40
19515-457.11
19516-467.92
19517-491.16
19518-506.56
19519-506.70
195110-495.28
195111-513.18
195112-532.85
19521-525.76
19522-529.70
19523-530.77
19524-533.21
19525-550.52
19526-569.05
19527-574.06
19528-567.70
19529-558.55
195210-579.04
195211-605.15
195212-611.13
19531-606.40
19532-612.21
19533-584.82
19534-590.69
19535-572.33
19536-583.28
19537-588.53
19538-564.36
19539-584.20
195310-600.03
195311-611.05
195312-629.52
19541-646.37
19542-663.06
19543-692.57
19544-723.20
19545-732.05
19546-764.68
19547-782.99
19548-804.44
19549-826.24
195410-861.79
195411-904.48
195412-924.09
19551-958.33
19552-954.14
19553-990.48
19554-989.70
19555-1,050.52
19556-1,130.82
19557-1,127.44
19558-1,181.74
19559-1,125.90
195510-1,205.46
195511-1,220.38
195512-1,191.24
19561-1,202.55
19562-1,289.20
19563-1,308.32
19564-1,271.18
19565-1,267.85
19566-1,340.74
19567-1,336.92
19568-1,295.63
19569-1,283.27
195610-1,274.13
195611-1,297.18
195612-1,273.01
19571-1,222.15
19572-1,241.95
19573-1,274.79
19574-1,327.82
19575-1,353.77
19576-1,385.21
19577-1,313.11
19578-1,264.00
19579-1,189.47
195710-1,168.05
195711-1,171.77
195712-1,199.06
19581-1,207.47
19582-1,236.68
19583-1,247.77
19584-1,292.16
19585-1,327.50
19586-1,368.27
19587-1,423.74
19588-1,465.65
19589-1,529.54
195810-1,580.42
195811-1,614.59
195812-1,683.29
19591-1,661.99
19592-1,708.63
19593-1,741.72
19594-1,772.47
19595-1,761.72
19596-1,836.20
19597-1,830.35
19598-1,762.57
19599-1,765.69
195910-1,777.50
195911-1,839.06
195912-1,811.73
19601-1,746.34
19602-1,727.51
19603-1,754.88
19604-1,743.92
19605-1,813.47
19606-1,773.65
19607-1,800.09
19608-1,751.11
19609-1,721.80
196010-1,782.77
196011-1,830.73
196012-1,930.09
19611-2,014.51
19612-2,082.94
19613-2,143.75
19614-2,170.83
19615-2,147.38
19616-2,146.78
19617-2,229.19
19618-2,217.12
19619-2,246.90
196110-2,354.12
196111-2,381.50
196112-2,298.45
19621-2,342.34
19622-2,350.33
19623-2,281.11
19624-2,117.21
19625-1,875.58
19626-1,926.55
19627-1,984.79
19628-1,973.01
19629-1,916.65
196210-2,054.67
196211-2,149.67
196212-2,238.81
19631-2,274.54
19632-2,272.07
19633-2,385.18
19634-2,439.31
19635-2,444.60
19636-2,414.73
19637-2,487.92
19638-2,559.91
19639-2,572.71
196310-2,564.82
196311-2,626.21
196312-2,713.66
19641-2,753.82
19642-2,810.86
19643-2,858.45
19644-2,893.33
19645-2,883.18
19646-2,997.39
19647-2,960.65
19648-3,018.84
19649-3,078.32
196410-3,107.16
196411-3,060.85
196412-3,147.19
19651-3,177.88
19652-3,188.54
19653-3,238.21
19654-3,294.32
19655-3,145.83
19656-3,149.07
19657-3,215.78
19658-3,331.42
19659-3,414.60
196510-3,451.34
196511-3,444.04
196512-3,512.25
19661-3,497.13
19662-3,362.06
19663-3,473.71
19664-3,299.76
19665-3,281.30
19666-3,281.90
19667-3,092.56
19668-2,992.83
19669-2,975.93
196610-3,134.14
196611-3,156.57
196612-3,286.95
19671-3,409.55
19672-3,499.35
19673-3,569.07
19674-3,642.51
19675-3,606.39
19676-3,678.24
19677-3,746.35
19678-3,808.31
19679-3,812.02
196710-3,702.17
196711-3,817.37
196712-3,816.70
19681-3,654.22
19682-3,597.25
19683-3,872.86
19684-3,971.91
19685-4,088.72
19686-4,090.72
19687-4,011.60
19688-4,152.32
19689-4,265.15
196810-4,341.31
196811-4,397.11
196812-4,221.88
19691-4,211.81
19692-4,131.20
19693-4,225.16
19694-4,373.61
19695-4,156.18
19696-3,981.40
19697-3,970.11
19698-3,995.06
19699-4,048.85
196910-4,089.24
196911-3,883.65
196912-3,860.77
19701-3,737.38
19702-3,812.59
19703-3,707.83
19704-3,292.59
19705-3,283.70
19706-3,300.86
19707-3,408.33
19708-3,623.78
19709-3,713.99
197010-3,721.67
197011-3,988.08
197012-4,152.02
19711-4,324.37
19712-4,446.83
19713-4,610.20
19714-4,559.13
19715-4,486.37
19716-4,465.60
19717-4,397.85
19718-4,507.20
19719-4,423.20
197110-4,229.84
197111-4,532.85
197112-4,733.32
19721-4,832.10
19722-4,958.68
19723-5,021.11
19724-4,982.15
19725-5,007.86
19726-4,982.63
19727-5,171.16
19728-5,108.56
19729-5,129.89
197210-5,399.42
197211-5,524.23
197212-5,578.88
19731-5,393.38
19732-5,320.82
19733-5,233.91
19734-5,099.41
19735-4,997.95
19736-5,058.43
19737-4,975.71
19738-5,074.99
19739-5,289.93
197310-4,927.42
197311-4,592.09
197312-4,670.18
19741-4,554.69
19742-4,763.05
19743-4,533.63
19744-4,410.97
19745-4,431.14
19746-3,928.34
19747-3,780.45
19748-3,401.89
19749-3,482.75
197410-3,613.13
197411-3,393.02
197412-3,685.93
19751-4,084.29
19752-4,287.43
19753-4,351.18
19754-4,643.26
19755-4,777.67
19756-4,798.31
19757-4,462.61
19758-4,424.55
19759-4,644.51
197510-4,739.34
197511-4,683.43
197512-5,130.48
19761-5,344.83
19762-5,387.72
19763-5,446.74
19764-5,425.87
19765-5,474.73
19766-5,620.65
19767-5,589.14
19768-5,725.40
19769-5,547.44
197610-5,527.10
197611-5,736.38
197612-5,705.57
19771-5,570.42
19772-5,567.41
19773-5,500.95
19774-5,504.50
19775-5,554.02
19776-5,625.25
19777-5,508.32
19778-5,443.58
19779-5,323.94
197710-5,376.18
197711-5,371.87
197712-5,189.74
19781-5,139.30
19782-5,152.95
19783-5,401.84
19784-5,699.17
19785-5,737.56
19786-5,733.99
19787-6,154.18
19788-6,178.78
19789-6,007.41
197810-5,680.75
197811-5,789.98
197812-6,032.31
19791-5,968.55
19792-6,108.28
19793-6,256.77
19794-6,138.33
19795-6,286.73
19796-6,376.05
19797-6,695.77
19798-6,798.92
19799-6,570.98
197910-6,549.79
197911-6,838.25
197912-7,064.76
19801-7,375.32
19802-6,727.92
19803-6,649.74
19804-6,984.63
19805-7,463.97
19806-7,834.88
19807-8,109.47
19808-8,339.44
19809-8,616.71
198010-9,014.34
198011-8,902.14
198012-8,903.02
19811-8,629.69
19812-8,987.24
19813-9,103.52
19814-8,956.29
19815-9,033.10
19816-8,850.97
19817-8,922.00
19818-8,181.24
19819-8,322.55
198110-8,575.86
198111-8,677.00
198112-8,260.15
19821-8,102.06
19822-7,879.69
19823-8,310.66
19824-8,358.00
19825-7,917.48
19826-7,936.79
19827-7,999.80
19828-8,967.49
19829-9,763.93
198210-10,203.30
198211-10,341.60
198212-10,747.59
19831-10,976.52
19832-11,400.82
19833-11,879.36
19834-12,404.91
19835-12,622.43
19836-12,711.81
19837-12,405.81
19838-12,816.92
19839-12,899.97
198310-12,752.72
198311-12,736.38
198312-12,937.10
19841-12,275.73
19842-12,330.03
19843-12,392.57
19844-12,361.27
19845-12,132.80
19846-12,022.58
19847-13,129.44
19848-13,314.17
19849-13,259.26
198410-13,429.76
198411-13,334.74
198412-13,961.15
19851-14,769.13
19852-14,698.49
19853-14,849.11
19854-15,255.32
19855-15,638.38
19856-15,989.81
19857-15,694.75
19858-15,398.90
19859-15,629.20
198510-16,632.68
198511-17,513.30
198512-17,644.95
19861-18,650.23
19862-19,803.33
19863-20,346.22
19864-20,446.29
19865-21,086.92
19866-20,706.53
19867-21,178.82
19868-20,658.61
19869-20,640.05
198610-21,369.25
198611-21,734.44
198612-23,184.86
19871-24,683.03
19872-25,763.26
19873-25,542.63
19874-25,586.77
19875-26,737.78
19876-27,572.56
19877-29,352.09
19878-28,462.60
19879-25,088.68
198710-22,001.91
198711-21,708.25
198712-22,630.10
19881-23,383.36
19882-24,139.13
19883-23,925.25
19884-23,401.70
19885-24,805.38
19886-24,729.25
19887-24,304.28
19888-24,772.66
19889-25,714.42
198810-25,194.93
198811-25,780.95
198812-26,686.55
19891-27,567.17
19892-27,522.60
19893-28,503.73
19894-29,676.74
19895-30,683.56
19896-31,542.75
19897-33,022.35
19898-33,172.77
19899-33,267.73
198910-32,664.41
198911-33,558.34
198912-32,816.28
19901-31,986.96
19902-32,852.90
19903-32,917.28
19904-34,184.90
19905-35,268.55
19906-35,328.41
19907-32,551.16
19908-31,138.10
19909-30,417.01
199010-31,324.60
199011-32,761.33
199012-32,536.86
19911-36,313.34
19912-37,418.95
19913-38,264.18
19914-38,195.73
19915-38,328.27
19916-38,627.42
19917-39,662.22
19918-39,542.01
19919-39,613.83
199110-39,620.09
199111-39,990.59
199112-42,933.11
19921-42,675.15
19922-42,243.12
19923-42,354.77
19924-43,230.81
19925-42,656.22
19926-43,471.86
19927-43,881.25
19928-44,047.20
19929-43,526.54
199210-44,726.52
199211-46,189.62
199212-46,255.62
19931-47,053.18
19932-48,064.90
19933-47,419.99
19934-47,763.65
19935-48,176.89
19936-48,206.28
19937-49,055.90
19938-49,720.60
19939-50,338.08
199310-50,341.88
199311-50,788.50
199312-51,670.13
19941-51,631.01
19942-50,895.88
19943-49,192.71
19944-49,713.29
19945-50,264.16
19946-50,003.35
19947-51,544.50
19948-51,965.85
19949-51,735.12
199410-51,543.76
199411-51,015.07
199412-52,265.54
19951-54,261.61
19952-55,649.72
19953-57,439.16
19954-59,362.09
19955-61,248.87
19956-63,421.66
19957-63,747.09
19958-66,116.99
19959-66,720.35
199510-68,293.88
199511-70,608.45
199512-70,723.25
19961-74,899.03
19962-74,748.70
19963-74,895.99
19964-76,659.66
19965-77,639.83
19966-74,940.63
19967-77,245.62
19968-78,808.86
19969-82,055.39
199610-86,200.89
199611-87,233.77
199612-90,075.45
19971-94,003.79
19972-93,417.50
19973-90,236.40
19974-98,554.24
19975-103,813.91
19976-109,768.60
19977-110,150.36
19978-111,463.36
19979-113,297.35
199710-111,992.12
199711-114,942.68
199712-115,215.20
19981-122,591.46
19982-129,104.58
19983-133,501.47
19984-133,205.28
19985-133,360.41
19986-139,318.51
19987-129,606.60
19988-123,257.89
19989-124,848.97
199810-138,550.38
199811-144,236.63
199812-151,517.25
19991-151,416.17
19992-155,842.83
19993-162,466.19
19994-162,305.62
19995-161,312.69
19996-168,607.87
19997-162,243.96
19998-161,273.72
19999-159,221.55
199910-170,535.76
199911-175,325.65
199912-175,117.13
20001-170,777.59
20002-177,507.86
20003-180,036.75
20004-174,925.88
20005-180,459.62
20006-181,994.15
20007-183,704.37
20008-181,721.00
20009-172,245.65
200010-170,914.94
200011-165,240.44
200012-165,992.30
20011-162,446.27
20012-147,696.31
20013-148,359.01
20014-158,565.12
20015-154,777.55
20016-150,660.12
20017-147,577.86
20018-130,979.30
20019-135,149.72
200110-141,979.03
200111-144,060.51
200112-143,631.66
20021-138,816.02
20022-145,680.85
20023-140,561.00
20024-136,596.65
20025-128,508.82
20026-114,683.20
20027-115,989.20
20028-110,470.75
20029-108,960.57
200210-116,179.83
200211-114,977.30
200212-114,721.46
20031-107,362.26
20032-108,766.45
20033-114,515.69
20034-120,599.01
20035-127,478.20
20036-128,237.84
20037-128,024.55
20038-132,071.64
20039-134,749.83
200310-136,381.09
200311-140,559.55
200312-147,496.11
20041-149,098.89
20042-146,765.20
20043-148,186.09
20044-144,386.22
20045-148,512.32
20046-145,187.45
20047-143,172.87
20048-147,156.84
20049-147,307.81
200410-154,340.14
200411-158,549.68
200412-156,410.49
20051-159,040.08
20052-158,633.59
20053-154,812.24
20054-156,880.33
20055-160,301.41
20056-163,199.33
20057-163,705.28
20058-164,163.14
20059-159,855.14
200510-166,187.87
200511-169,751.16
200512-172,241.02
20061-172,212.36
20062-174,771.67
20063-176,166.93
20064-174,781.13
20065-170,051.92
20066-171,276.36
20067-175,201.60
20068-179,636.26
20069-186,131.75
200610-189,857.44
200611-193,936.09
200612-195,279.73
20071-198,396.48
20072-193,488.37
20073-201,576.69
20074-208,413.67
20075-209,132.49
20076-210,334.21
20077-201,497.84
20078-207,693.38
20079-213,906.81
200710-203,625.78
200711-206,147.12
200712-192,468.85
20081-189,458.71
20082-184,482.32
20083-192,311.38
20084-197,239.56
20085-188,863.62
20086-177,383.60
20087-181,127.34
20088-172,347.13
20089-137,544.06
200810-125,707.92
200811-125,266.41
200812-123,894.05
20091-115,590.04
20092-109,015.93
20093-122,448.60
20094-130,603.46
20095-134,350.29
20096-136,066.81
20097-147,116.45
20098-152,486.70
20099-156,151.12
200910-159,421.43
200911-162,969.93
200912-165,181.38
20101-160,393.64
20102-169,925.89
20103-176,872.34
20104-166,468.01
20105-160,569.11
20106-160,313.69
20107-161,698.17
20108-167,149.27
20109-174,800.42
201010-179,154.55
201011-185,807.88
201012-192,240.91
20111-198,298.15
20112-196,092.17
20113-200,447.34
20114-201,768.76
20115-194,378.77
20116-200,407.89
20117-179,564.17
20118-178,146.97
20119-183,525.06
201110-186,768.17
201111-189,671.95
201112-198,743.13
20121-207,016.02
20122-212,986.03
20123-212,904.65
20124-206,323.87
20125-203,946.17
20126-209,903.61
20127-217,014.52
20128-223,570.89
20129-223,085.44
201210-216,755.40
201211-221,470.99
201212-230,925.06
20131-236,312.59
20132-242,746.09
20133-246,275.11
20134-257,540.40
20135-254,661.68
20136-262,949.59
20137-263,613.61
20138-266,757.11
20139-272,405.83
201310-282,920.68
201311-287,225.77
201312-290,005.57
20141-289,628.46
20142-297,512.92
20143-298,113.08
20144-302,680.27
20145-312,354.90
20146-317,027.17
20147-315,673.62
20148-321,286.40
20149-312,783.29
201410-330,629.62
201411-332,725.44
201412-329,032.03
20151-338,335.08
20152-338,522.39
20153-341,496.01
20154-344,838.92
20155-343,337.15
20156-343,063.75
20157-334,746.52
20158-319,659.18
20159-333,459.24
201510-343,237.84
201511-339,452.03
201512-317,660.49
20161-315,913.65
20162-336,014.37
20163-345,527.81
20164-344,476.15
20165-348,149.95
20166-359,629.98
20167-363,942.87
20168-362,346.36
20169-360,512.95
201610-364,843.29
201611-379,239.88
201612-384,691.96
20171-394,603.34
20172-401,505.96
20173-400,887.63
20174-407,672.14
20175-414,914.15
20176-419,013.02
20177-420,051.35
20178-426,995.91
20179-438,673.39
201710-445,646.40
201711-458,496.56
201712-480,788.19
20181-466,909.35
20182-467,210.87
20183-459,436.61
20184-468,449.02
20185-478,347.20
20186-485,908.64
20187-497,817.31
20188-506,179.38
20189-486,696.61
201810-476,592.26
201811-450,081.76
201812-457,893.54
20191-484,583.71
20192-494,023.51
20193-512,417.09
20194-504,567.94
20195-511,655.85
20196-531,238.68
20197-514,587.46
20198-530,463.66
20199-530,515.66
201910-554,037.09
201911-567,718.04
201912-586,716.14
20201-587,432.38
20202-476,303.63
20203-496,873.35
20204-526,126.10
20205-560,367.82
20206-579,848.64
20207-614,022.05
20208-610,172.11
20209-620,703.69
202010-645,247.04
202011-672,735.08
202012-691,540.05
20211-708,769.96
20212-714,591.50
20213-757,620.53
20214-763,380.20
20215-777,200.61
20216-801,046.69
20217-818,550.85
20218-817,859.19
20219-821,557.35
202110-860,538.15
202111-862,822.05
202112-845,117.34
20221-820,587.22
20222-813,262.79
20223-814,224.90
20224-750,123.17
20225-724,848.63
20226-728,216.90
20227-775,167.91
20228-718,755.81
20229-696,537.81
202210-704,856.34
Click to show 1134 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 1927 to 2022
Start Value
Average monthly close
$13.40
End Value
Average monthly close
$3,770.55
Change in price+28,038.43%
+6.12% / yr
Change incl. dividends+945,515.26%
+10.02% / yr
Change incl. dividends, inflation-adjusted+55,111.55%
+6.81% / yr
Final amount, nominal
($100 base)
$945,615.26
Final amount, inflation-adjusted
($100 base)
$55,211.55