S&P 500: $100 in 1931 → $676,001.52 in 2022

$

Stock market returns since 1931

If you invested $100 in the S&P 500 at the beginning of 1931, you would have about $676,001.52 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 675,901.52%, or 10.12% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $1,109,129.39.

This investment result beats inflation during this period for an inflation-adjusted return of about 34,593.55% cumulatively, or 6.60% per year.

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 $675,901.52, or 675,901.52%. This means by 2022 you would have $676,001.52 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 1931 was 15.200 and the CPI in 2022 was 296.171.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 91 years.

Adjusted for inflation, the $676,001.52 nominal end value of the original $100 investment would have a real return of roughly $34,593.55 in 1931 dollars. This means the inflation-adjusted return is 34,593.55% as opposed to the original 675,901.52%.

For more information on inflation, see our U.S. inflation calculator for 1931.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1098-month period between 1931 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
193118.14%108.1415.90
193122.38%110.7115.70
19313-9.08%100.6615.60
19314-9.16%91.4415.50
19315-2.68%88.9915.30
193163.86%92.4215.10
19317-2.49%90.1315.10
19318-14.37%77.1815.10
19319-12.75%67.3415.00
1931102.05%68.7214.90
193111-18.10%56.2814.70
193112-0.85%55.8014.60
19321-0.05%55.7814.30
193221.14%56.4114.10
19323-23.22%43.3114.00
19324-11.31%38.4113.90
19325-12.39%33.6513.70
193266.18%35.7313.60
1932751.35%54.0813.60
1932810.37%59.6913.50
19329-13.22%51.8013.40
193210-0.34%51.6313.30
193211-2.64%50.2613.20
1932124.57%52.5613.10
19331-11.27%46.6412.90
193320.33%46.7912.70
1933311.24%52.0612.60
1933429.32%67.3212.60
1933517.58%79.1512.60
193368.46%85.8512.70
19337-4.64%81.8713.10
19338-0.48%81.4713.20
19339-9.38%73.8313.20
1933102.80%75.9013.20
1933112.32%77.6613.20
1933126.08%82.3913.20
193417.75%88.7713.20
19342-4.80%84.5113.30
193432.02%86.2213.30
19344-9.83%77.7413.30
193451.70%79.0713.30
19346-4.36%75.6213.40
19347-3.51%72.9713.40
19348-2.01%71.5013.40
193491.21%72.3713.60
1934103.21%74.6913.50
1934111.06%75.4813.50
1934120.40%75.7913.40
19351-2.62%73.8013.60
19352-5.93%69.4213.70
193537.94%74.9313.70
193548.27%81.1313.80
193554.17%84.5113.80
193565.60%89.2513.70
193577.10%95.5913.70
193582.43%97.9113.70
193592.99%100.8413.70
1935109.71%110.6313.70
1935110.29%110.9513.80
1935125.82%117.4113.80
193616.03%124.5013.80
193622.41%127.5013.80
193630.41%128.0313.70
19364-5.02%121.6013.70
193654.57%127.1613.70
193666.23%135.0913.80
193672.30%138.1913.90
193681.44%140.1914.00
193695.55%147.9714.00
1936103.10%152.5614.00
193611-1.40%150.4214.00
1936123.46%155.6314.00
193713.30%160.7714.10
193720.23%161.1414.10
19373-5.62%152.0714.20
19374-4.09%145.8614.30
19375-3.34%140.9914.40
193766.39%150.0014.40
193771.44%152.1614.50
19378-13.76%131.2214.50
19379-14.10%112.7214.60
193710-8.27%103.4014.60
193711-1.02%102.3514.50
1937123.24%105.6614.40
19381-1.80%103.7614.20
19382-6.02%97.5114.10
19383-3.44%94.1514.10
193841.56%95.6214.20
193852.93%98.4214.10
1938620.49%118.5914.10
193871.06%119.8414.10
19388-4.08%114.9514.10
1938911.62%128.3014.10
1938100.47%128.9014.00
193811-2.55%125.6114.00
193812-1.16%124.1514.00
19391-0.46%123.5814.00
193920.27%123.9113.90
19393-12.24%108.7413.90
193944.10%113.2013.80
193952.17%115.6613.80
193962.84%118.9413.80
19397-1.07%117.6713.80
1939811.06%130.6813.80
193991.38%132.4814.10
193910-1.41%130.6214.00
193911-1.97%128.0414.00
193912-0.15%127.8514.00
19401-0.23%127.5613.90
19402-0.15%127.3714.00
194031.42%129.1814.00
19404-13.34%111.9514.00
19405-8.09%102.8914.00
194063.87%106.8714.10
194072.65%109.7014.00
194084.76%114.9214.00
194091.47%116.6014.00
1940102.85%119.9314.00
194011-3.59%115.6214.00
1940120.72%116.4514.10
19411-5.72%109.7914.10
194121.18%111.0814.10
19413-2.55%108.2514.20
19414-1.59%106.5314.30
194154.11%110.9114.40
194165.71%117.2414.70
194170.08%117.3314.70
194180.86%118.3414.90
19419-3.43%114.2815.10
194110-4.08%109.6115.30
194111-5.88%103.1715.40
1941122.62%105.8715.50
19421-2.48%103.2415.70
19422-4.76%98.3215.80
19423-3.45%94.9316.00
194241.87%96.7016.10
194255.75%102.2616.30
194264.38%106.7416.30
194270.05%106.7916.40
194281.66%108.5716.50
194297.97%117.2216.50
1942102.15%119.7416.70
1942111.06%121.0116.80
1942126.50%128.8816.90
194316.43%137.1716.90
194324.01%142.6816.90
194333.79%148.0817.20
194344.36%154.5417.40
194352.18%157.9117.50
194362.47%161.8117.50
19437-4.54%154.4717.40
194382.55%158.4117.30
19439-0.50%157.6217.40
194310-4.21%150.9917.40
1943111.77%153.6617.40
1943123.67%159.3017.40
19441-0.24%158.9117.40
194423.24%164.0617.40
19443-1.31%161.9117.40
194442.20%165.4817.50
194455.14%173.9917.50
194463.02%179.2417.60
19447-1.06%177.3517.70
19448-1.23%175.1717.70
194492.88%180.2217.70
194410-0.28%179.7117.70
1944112.60%184.3917.70
1944123.38%190.6317.80
194513.73%197.7417.80
194520.31%198.3617.80
194532.90%204.1217.80
194544.16%212.6117.80
194552.19%217.2617.90
19456-1.70%213.5818.10
194570.71%215.0918.10
194587.18%230.5318.10
194594.51%240.9418.10
1945103.61%249.6318.10
1945112.02%254.6818.10
1945124.30%265.6318.20
194610.59%267.1818.20
19462-2.68%260.0318.10
194636.77%277.6318.30
194640.52%279.0718.40
19465-0.34%278.1318.50
19466-2.55%271.0418.70
19467-1.62%266.6419.80
19468-14.42%228.1820.20
19469-1.87%223.9120.40
194610-0.01%223.8820.80
1946113.39%231.4821.30
1946120.92%233.6121.50
194714.27%243.5921.50
19472-3.67%234.6421.50
19473-3.30%226.9021.90
19474-1.36%223.8121.90
194753.92%232.5821.90
194766.69%248.1522.00
19477-1.56%244.2822.20
19478-2.17%238.9922.50
194793.03%246.2223.00
194710-0.73%244.4323.00
194711-1.12%241.6823.10
194712-0.86%239.5923.40
19481-4.45%228.9323.70
194821.92%233.3323.50
194838.19%252.4323.40
194845.33%265.8923.80
194854.59%278.0823.90
19486-1.96%272.6424.10
19487-2.49%265.8624.40
19488-0.68%264.0524.50
194893.19%272.4724.50
194810-5.10%258.5824.40
194811-0.16%258.1724.20
1948121.63%262.3724.10
19491-3.33%253.6424.00
194921.49%257.4323.80
194930.41%258.4923.80
19494-0.18%258.0223.90
19495-4.91%245.3423.80
194966.26%260.7123.90
194974.17%271.5823.70
194981.87%276.6623.80
194993.14%285.3523.90
1949101.95%290.9123.70
1949113.24%300.3423.80
1949122.63%308.2423.60
195012.52%316.0223.50
195021.38%320.3623.50
195033.39%331.2123.60
195043.91%344.1823.60
195052.16%351.6323.70
19506-6.72%327.9823.80
195076.64%349.7524.10
195084.11%364.1224.30
195094.72%381.3224.40
1950100.38%382.7524.60
1950110.19%383.5024.70
1950128.01%414.2225.00
195114.31%432.0725.40
19512-1.11%427.2725.70
195131.93%435.5025.80
195140.63%438.2325.80
19515-1.15%433.2225.90
195162.37%443.4725.90
195174.97%465.4925.90
195183.14%480.0825.90
195190.03%480.2226.10
195110-2.25%469.4026.20
1951113.61%486.3626.40
1951123.83%505.0126.50
19521-1.33%498.2826.50
195220.75%502.0126.30
195230.20%503.0326.30
195240.46%505.3526.40
195253.24%521.7426.40
195263.37%539.3126.50
195270.88%544.0626.70
19528-1.11%538.0326.70
19529-1.61%529.3626.70
1952103.67%548.7726.70
1952114.51%573.5226.70
1952120.99%579.1926.70
19531-0.77%574.7126.60
195320.96%580.2126.50
19533-4.47%554.2626.60
195341.00%559.8226.60
19535-3.11%542.4226.70
195361.91%552.8026.80
195370.90%557.7726.80
19538-4.11%534.8626.90
195393.52%553.6726.90
1953102.71%568.6727.00
1953111.84%579.1126.90
1953123.02%596.6226.90
195412.68%612.5926.90
195422.58%628.4126.90
195434.45%656.3826.90
195444.42%685.4026.80
195451.22%693.7926.90
195464.46%724.7126.90
195472.39%742.0626.90
195482.74%762.3926.90
195492.71%783.0626.80
1954104.30%816.7526.80
1954114.95%857.2126.80
1954122.17%875.7926.70
195513.70%908.2426.70
19552-0.44%904.2826.70
195533.81%938.7126.70
19554-0.08%937.9726.70
195556.15%995.6126.70
195567.64%1,071.7226.70
19557-0.30%1,068.5126.80
195584.82%1,119.9826.80
19559-4.72%1,067.0626.90
1955107.07%1,142.4626.90
1955111.24%1,156.5926.90
195512-2.39%1,128.9826.80
195610.95%1,139.6926.80
195627.21%1,221.8226.80
195631.48%1,239.9426.80
19564-2.84%1,204.7426.90
19565-0.26%1,201.5927.00
195665.75%1,270.6627.20
19567-0.28%1,267.0527.40
19568-3.09%1,227.9127.30
19569-0.95%1,216.2027.40
195610-0.71%1,207.5427.50
1956111.81%1,229.3827.50
195612-1.86%1,206.4827.60
19571-4.00%1,158.2727.60
195721.62%1,177.0427.70
195732.64%1,208.1627.80
195744.16%1,258.4327.90
195751.95%1,283.0228.00
195762.32%1,312.8128.10
19577-5.21%1,244.4828.30
19578-3.74%1,197.9428.30
19579-5.90%1,127.3028.30
195710-1.80%1,107.0128.30
1957110.32%1,110.5328.40
1957122.33%1,136.3928.40
195810.70%1,144.3628.60
195822.42%1,172.0528.60
195830.90%1,182.5528.80
195843.56%1,224.6328.90
195852.74%1,258.1228.90
195863.07%1,296.7628.90
195874.05%1,349.3329.00
195882.94%1,389.0528.90
195894.36%1,449.6028.90
1958103.33%1,497.8228.90
1958112.16%1,530.2129.00
1958124.25%1,595.3128.90
19591-1.27%1,575.1329.00
195922.81%1,619.3328.90
195931.94%1,650.6928.90
195941.77%1,679.8329.00
19595-0.61%1,669.6529.00
195964.23%1,740.2329.10
19597-0.32%1,734.6929.20
19598-3.70%1,670.4529.20
195990.18%1,673.4029.30
1959100.67%1,684.6029.40
1959113.46%1,742.9429.40
195912-1.49%1,717.0429.40
19601-3.61%1,655.0729.30
19602-1.08%1,637.2329.40
196031.58%1,663.1629.40
19604-0.62%1,652.7829.50
196053.99%1,718.6929.50
19606-2.20%1,680.9529.60
196071.49%1,706.0129.60
19608-2.72%1,659.5929.60
19609-1.67%1,631.8129.60
1960103.54%1,689.5929.80
1960112.69%1,735.0529.80
1960125.43%1,829.2129.80
196114.37%1,909.2229.80
196123.40%1,974.0829.80
196132.92%2,031.7029.80
196141.26%2,057.3729.80
19615-1.08%2,035.1529.80
19616-0.03%2,034.5829.80
196173.84%2,112.6930.00
19618-0.54%2,101.2429.90
196191.34%2,129.4630.00
1961104.77%2,231.0830.00
1961111.16%2,257.0330.00
196112-3.49%2,178.3230.00
196211.91%2,219.9230.00
196220.34%2,227.4930.10
19623-2.94%2,161.8930.10
19624-7.19%2,006.5630.20
19625-11.41%1,777.5530.20
196262.72%1,825.8630.20
196273.02%1,881.0530.30
19628-0.59%1,869.8930.30
19629-2.86%1,816.4830.40
1962107.20%1,947.2830.40
1962114.62%2,037.3230.40
1962124.15%2,121.8030.40
196311.60%2,155.6630.40
19632-0.11%2,153.3230.40
196334.98%2,260.5230.50
196342.27%2,311.8230.50
196350.22%2,316.8330.50
19636-1.22%2,288.5230.60
196373.03%2,357.8930.70
196382.89%2,426.1230.70
196390.50%2,438.2530.70
196310-0.31%2,430.7730.80
1963112.39%2,488.9530.80
1963123.33%2,571.8330.90
196411.48%2,609.9030.90
196422.07%2,663.9530.90
196431.69%2,709.0530.90
196441.22%2,742.1130.90
19645-0.35%2,732.5030.90
196463.96%2,840.7331.00
19647-1.23%2,805.9131.10
196481.97%2,861.0631.00
196491.97%2,917.4331.10
1964100.94%2,944.7631.10
196411-1.49%2,900.8831.20
1964122.82%2,982.7131.20
196510.98%3,011.7931.20
196520.34%3,021.9031.20
196531.56%3,068.9731.30
196541.73%3,122.1431.40
19655-4.51%2,981.4131.40
196560.10%2,984.4831.60
196572.12%3,047.7131.60
196583.60%3,157.3131.60
196592.50%3,236.1431.60
1965101.08%3,270.9631.70
196511-0.21%3,264.0431.70
1965121.98%3,328.6831.80
19661-0.43%3,314.3531.80
19662-3.86%3,186.3432.00
196633.32%3,292.1632.10
19664-5.01%3,127.3032.30
19665-0.56%3,109.8032.30
196660.02%3,110.3832.40
19667-5.77%2,930.9232.50
19668-3.22%2,836.4132.70
19669-0.56%2,820.4032.70
1966105.32%2,970.3332.90
1966110.72%2,991.5932.90
1966124.13%3,115.1632.90
196713.73%3,231.3532.90
196722.63%3,316.4632.90
196731.99%3,382.5433.00
196742.06%3,452.1433.10
19675-0.99%3,417.9033.20
196761.99%3,486.0033.30
196771.85%3,550.5533.40
196781.65%3,609.2733.50
196790.10%3,612.7833.60
196710-2.88%3,508.6733.70
1967113.11%3,617.8533.80
196712-0.02%3,617.2233.90
19681-4.26%3,463.2434.10
19682-1.56%3,409.2434.20
196837.66%3,670.4434.30
196842.56%3,764.3234.40
196852.94%3,875.0234.50
196860.05%3,876.9234.70
19687-1.93%3,801.9434.90
196883.51%3,935.3035.00
196892.72%4,042.2335.10
1968101.79%4,114.4135.30
1968111.29%4,167.3035.40
196812-3.99%4,001.2235.50
19691-0.24%3,991.6835.60
19692-1.91%3,915.2935.80
196932.27%4,004.3336.10
196943.51%4,145.0236.30
19695-4.97%3,938.9636.40
19696-4.21%3,773.3136.60
19697-0.28%3,762.6136.80
196980.63%3,786.2637.00
196991.35%3,837.2437.10
1969101.00%3,875.5137.30
196911-5.03%3,680.6737.50
196912-0.59%3,658.9937.70
19701-3.20%3,542.0537.80
197022.01%3,613.3238.00
19703-2.75%3,514.0438.20
19704-11.20%3,120.5038.50
19705-0.27%3,112.0838.60
197060.52%3,128.3438.80
197073.26%3,230.1939.00
197086.32%3,434.3839.00
197092.49%3,519.8839.20
1970100.21%3,527.1639.40
1970117.16%3,779.6539.60
1970124.11%3,935.0239.80
197114.15%4,098.3639.80
197122.83%4,214.4239.90
197133.67%4,369.2540.00
19714-1.11%4,320.8540.10
19715-1.60%4,251.8940.30
19716-0.46%4,232.2140.60
19717-1.52%4,168.0040.70
197182.49%4,271.6340.80
19719-1.86%4,192.0240.80
197110-4.37%4,008.7740.90
1971117.16%4,295.9440.90
1971124.42%4,485.9341.10
197212.09%4,579.5541.10
197222.62%4,699.5241.30
197231.26%4,758.6841.40
19724-0.78%4,721.7641.50
197250.52%4,746.1341.60
19726-0.50%4,722.2141.70
197273.78%4,900.8941.90
19728-1.21%4,841.5642.00
197290.42%4,861.7742.10
1972105.25%5,117.2242.30
1972112.31%5,235.5142.40
1972120.99%5,287.3042.50
19731-3.33%5,111.4942.60
19732-1.35%5,042.7342.90
19733-1.63%4,960.3643.30
19734-2.57%4,832.8943.60
19735-1.99%4,736.7343.90
197361.21%4,794.0644.20
19737-1.64%4,715.6544.30
197382.00%4,809.7445.10
197394.24%5,013.4545.20
197310-6.85%4,669.8945.60
197311-6.81%4,352.0945.90
1973121.70%4,426.0946.20
19741-2.47%4,316.6446.60
197424.57%4,514.1147.20
19743-4.82%4,296.6847.80
19744-2.71%4,180.4348.00
197450.46%4,199.5448.60
19746-11.35%3,723.0349.00
19747-3.76%3,582.8649.40
19748-10.01%3,224.0950.00
197492.38%3,300.7350.60
1974103.74%3,424.2951.10
197411-6.09%3,215.6851.50
1974128.63%3,493.2951.90
1975110.81%3,870.8252.10
197524.97%4,063.3552.50
197531.49%4,123.7752.70
197546.71%4,400.5852.90
197552.89%4,527.9653.20
197560.43%4,547.5253.60
19757-7.00%4,229.3754.20
19758-0.85%4,193.3054.30
197594.97%4,401.7654.60
1975102.04%4,491.6454.90
197511-1.18%4,438.6555.30
1975129.55%4,862.3355.50
197614.18%5,065.4955.60
197620.80%5,106.1355.80
197631.10%5,162.0755.90
19764-0.38%5,142.2856.10
197650.90%5,188.5956.50
197662.67%5,326.8956.80
19767-0.56%5,297.0257.10
197682.44%5,426.1657.40
19769-3.11%5,257.5057.60
197610-0.37%5,238.2357.90
1976113.79%5,436.5758.00
197612-0.54%5,407.3658.20
19771-2.37%5,279.2958.50
19772-0.05%5,276.4359.10
19773-1.19%5,213.4459.50
197740.06%5,216.8060.00
197750.90%5,263.7460.30
197761.28%5,331.2560.70
19777-2.08%5,220.4361.00
19778-1.18%5,159.0761.20
19779-2.20%5,045.6961.40
1977100.98%5,095.1961.60
197711-0.08%5,091.1161.90
197712-3.39%4,918.5062.10
19781-0.97%4,870.6962.50
197820.27%4,883.6362.90
197834.83%5,119.5163.40
197845.50%5,401.3163.90
197850.67%5,437.6964.50
19786-0.06%5,434.3065.20
197877.33%5,832.5365.70
197880.40%5,855.8566.00
19789-2.77%5,693.4366.50
197810-5.44%5,383.8467.10
1978111.92%5,487.3767.40
1978124.19%5,717.0367.70
19791-1.06%5,656.6068.30
197922.34%5,789.0369.10
197932.43%5,929.7669.80
19794-1.89%5,817.5170.60
197952.42%5,958.1571.50
197961.42%6,042.8172.30
197975.01%6,345.8273.10
197981.54%6,443.5773.80
19799-3.35%6,227.5574.60
197910-0.32%6,207.4775.20
1979114.40%6,480.8575.90
1979123.31%6,695.5276.70
198014.40%6,989.8577.80
19802-8.78%6,376.2978.90
19803-1.16%6,302.1980.10
198045.04%6,619.5881.00
198056.86%7,073.8681.80
198064.97%7,425.4082.70
198073.50%7,685.6382.70
198082.84%7,903.5883.30
198093.32%8,166.3684.00
1980104.61%8,543.2184.80
198011-1.24%8,436.8785.50
1980120.01%8,437.7186.30
19811-3.07%8,178.6687.00
198124.14%8,517.5287.90
198131.29%8,627.7288.50
19814-1.62%8,488.1989.10
198150.86%8,560.9889.80
19816-2.02%8,388.3790.60
198170.80%8,455.6991.60
19818-8.30%7,753.6492.30
198191.73%7,887.5793.20
1981103.04%8,127.6493.40
1981111.18%8,223.5093.70
198112-4.80%7,828.4394.00
19821-1.91%7,678.6094.30
19822-2.74%7,467.8694.60
198235.47%7,876.3094.50
198240.57%7,921.1794.90
19825-5.27%7,503.6895.80
198260.24%7,521.9797.00
198270.79%7,581.7097.50
1982812.10%8,498.8197.70
198298.88%9,253.6297.90
1982104.50%9,670.0298.20
1982111.36%9,801.1098.00
1982123.93%10,185.8797.60
198312.13%10,402.8397.80
198323.87%10,804.9697.90
198334.20%11,258.4997.90
198344.42%11,756.5798.60
198351.75%11,962.7299.20
198360.71%12,047.4399.50
19837-2.41%11,757.4299.90
198383.31%12,147.05100.20
198390.65%12,225.75100.70
198310-1.14%12,086.20101.00
198311-0.13%12,070.72101.20
1983121.58%12,260.94101.30
19841-5.11%11,634.14101.90
198420.44%11,685.61102.40
198430.51%11,744.88102.60
19844-0.25%11,715.21103.10
19845-1.85%11,498.68103.40
19846-0.91%11,394.22103.70
198479.21%12,443.24104.10
198481.41%12,618.31104.50
19849-0.41%12,566.27105.00
1984101.29%12,727.86105.30
198411-0.71%12,637.80105.30
1984124.70%13,231.47105.30
198515.79%13,997.23105.50
19852-0.48%13,930.27106.00
198531.02%14,073.02106.40
198542.74%14,458.01106.90
198552.51%14,821.04107.30
198562.25%15,154.10107.60
19857-1.85%14,874.46107.80
19858-1.88%14,594.08108.00
198591.50%14,812.34108.30
1985106.42%15,763.37108.70
1985115.29%16,597.97109.00
1985120.75%16,722.74109.30
198615.70%17,675.47109.60
198626.18%18,768.31109.30
198632.74%19,282.83108.80
198640.49%19,377.67108.60
198653.13%19,984.81108.90
19866-1.80%19,624.31109.50
198672.28%20,071.91109.50
19868-2.46%19,578.89109.70
19869-0.09%19,561.30110.20
1986103.53%20,252.39110.30
1986111.71%20,598.49110.40
1986126.67%21,973.10110.50
198716.46%23,392.98111.20
198724.38%24,416.75111.60
19873-0.86%24,207.64112.10
198740.17%24,249.48112.70
198754.50%25,340.33113.10
198763.12%26,131.48113.50
198776.45%27,818.01113.80
19878-3.03%26,975.01114.40
19879-11.85%23,777.42115.00
198710-12.30%20,851.98115.30
198711-1.33%20,573.67115.40
1987124.25%21,447.34115.40
198813.33%22,161.23115.70
198823.23%22,877.50116.00
19883-0.89%22,674.80116.50
19884-2.19%22,178.61117.10
198856.00%23,508.93117.50
19886-0.31%23,436.78118.00
19887-1.72%23,034.02118.50
198881.93%23,477.92119.00
198893.80%24,370.46119.80
198810-2.02%23,878.12120.20
1988112.33%24,433.51120.30
1988123.51%25,291.78120.50
198913.30%26,126.37121.10
19892-0.16%26,084.13121.60
198933.56%27,013.98122.30
198944.12%28,125.69123.10
198953.39%29,079.89123.80
198962.80%29,894.17124.10
198974.69%31,296.44124.40
198980.46%31,439.00124.60
198990.29%31,529.00125.00
198910-1.81%30,957.21125.60
1989112.74%31,804.41125.90
198912-2.21%31,101.15126.10
19901-2.53%30,315.16127.40
199022.71%31,135.84128.00
199030.20%31,196.87128.70
199043.85%32,398.23128.90
199053.17%33,425.24129.20
199060.17%33,481.98129.90
19907-7.86%30,849.88130.40
19908-4.34%29,510.67131.60
19909-2.32%28,827.27132.70
1990102.98%29,687.42133.50
1990114.59%31,049.07133.80
199012-0.69%30,836.33133.80
1991111.61%34,415.43134.60
199123.04%35,463.25134.80
199132.26%36,264.30135.00
19914-0.18%36,199.44135.20
199150.35%36,325.05135.60
199160.78%36,608.56136.00
199172.68%37,589.28136.20
19918-0.30%37,475.35136.60
199190.18%37,543.42137.20
1991100.02%37,549.35137.40
1991110.94%37,900.49137.80
1991127.36%40,689.22137.90
19921-0.60%40,444.74138.10
19922-1.01%40,035.29138.60
199230.26%40,141.10139.30
199242.07%40,971.36139.50
19925-1.33%40,426.80139.70
199261.91%41,199.81140.20
199270.94%41,587.80140.50
199280.38%41,745.08140.90
19929-1.18%41,251.63141.30
1992102.76%42,388.90141.80
1992113.27%43,775.52142.00
1992120.14%43,838.07141.90
199311.72%44,593.95142.60
199322.15%45,552.79143.10
19933-1.34%44,941.59143.60
199340.72%45,267.29144.00
199350.87%45,658.93144.20
199360.06%45,686.79144.40
199371.76%46,492.00144.40
199381.35%47,121.96144.80
199391.24%47,707.17145.10
1993100.01%47,710.77145.70
1993110.89%48,134.05145.80
1993121.74%48,969.60145.80
19941-0.08%48,932.53146.20
19942-1.42%48,235.81146.70
19943-3.35%46,621.66147.20
199441.06%47,115.03147.40
199451.11%47,637.11147.50
19946-0.52%47,389.93148.00
199473.08%48,850.53148.40
199480.82%49,249.86149.00
19949-0.44%49,031.19149.40
199410-0.37%48,849.83149.50
199411-1.03%48,348.78149.70
1994122.45%49,533.89149.70
199513.82%51,425.64150.30
199522.56%52,741.19150.90
199533.22%54,437.11151.40
199543.35%56,259.54151.90
199553.18%58,047.70152.20
199563.55%60,106.93152.50
199570.51%60,415.36152.50
199583.72%62,661.40152.90
199590.91%63,233.22153.20
1995102.36%64,724.51153.70
1995113.39%66,918.11153.60
1995120.16%67,026.90153.50
199615.90%70,984.44154.40
19962-0.20%70,841.97154.90
199630.20%70,981.56155.70
199642.35%72,653.05156.30
199651.28%73,581.99156.60
19966-3.48%71,023.86156.70
199673.08%73,208.38157.00
199682.02%74,689.92157.30
199694.12%77,766.77157.80
1996105.05%81,695.61158.30
1996111.20%82,674.51158.60
1996123.26%85,367.67158.60
199714.36%89,090.69159.10
19972-0.62%88,535.04159.60
19973-3.41%85,520.21160.00
199749.22%93,403.32160.20
199755.34%98,388.09160.10
199765.74%104,031.55160.30
199770.35%104,393.36160.50
199781.19%105,637.74160.80
199791.65%107,375.88161.20
199710-1.15%106,138.86161.60
1997112.63%108,935.22161.50
1997120.24%109,193.49161.30
199816.40%116,184.23161.60
199825.31%122,356.95161.90
199833.41%126,524.03162.20
19984-0.22%126,243.32162.50
199850.12%126,390.34162.80
199864.47%132,037.04163.00
19987-6.97%122,832.73163.20
19988-4.90%116,815.83163.40
199891.29%118,323.76163.60
19981010.97%131,309.06164.00
1998114.10%136,698.12164.00
1998125.05%143,598.21163.90
19991-0.07%143,502.42164.30
199922.92%147,697.73164.50
199934.25%153,974.91165.00
19994-0.10%153,822.74166.20
19995-0.61%152,881.70166.20
199964.52%159,795.60166.20
19997-3.77%153,764.30166.70
19998-0.60%152,844.76167.10
19999-1.27%150,899.86167.90
1999107.11%161,622.73168.20
1999112.81%166,162.27168.30
199912-0.12%165,964.65168.30
20001-2.48%161,851.92168.80
200023.94%168,230.43169.80
200031.42%170,627.15171.20
20004-2.84%165,783.40171.30
200053.16%171,027.92171.50
200060.85%172,482.25172.40
200070.94%174,103.08172.80
20008-1.08%172,223.37172.80
20009-5.21%163,243.25173.70
200010-0.77%161,982.09174.00
200011-3.32%156,604.17174.10
2000120.46%157,316.73174.00
20011-2.14%153,956.04175.10
20012-9.08%139,976.98175.80
200130.45%140,605.05176.20
200146.88%150,277.74176.90
20015-2.39%146,688.12177.70
20016-2.66%142,785.89178.00
20017-2.05%139,864.72177.50
20018-11.25%124,133.68177.50
200193.18%128,086.13178.30
2001105.05%134,558.51177.70
2001111.47%136,531.21177.40
200112-0.30%136,124.77176.70
20021-3.35%131,560.82177.10
200224.95%138,066.86177.80
20023-3.51%133,214.59178.80
20024-2.82%129,457.45179.80
20025-5.92%121,792.32179.80
20026-10.76%108,689.30179.90
200271.14%109,927.04180.10
20028-4.76%104,697.01180.70
20029-1.37%103,265.76181.00
2002106.63%110,107.71181.30
200211-1.04%108,968.03181.30
200212-0.22%108,725.55180.90
20031-6.41%101,750.99181.70
200321.31%103,081.79183.10
200335.29%108,530.54184.20
200345.31%114,295.92183.80
200355.70%120,815.57183.50
200360.60%121,535.51183.70
20037-0.17%121,333.37183.90
200383.16%125,168.93184.60
200392.03%127,707.14185.20
2003101.21%129,253.15185.00
2003113.06%133,213.22184.50
2003124.93%139,787.24184.30
200411.09%141,306.26185.20
20042-1.57%139,094.54186.20
200430.97%140,441.16187.40
20044-2.56%136,839.89188.00
200452.86%140,750.34189.10
20046-2.24%137,599.25189.70
20047-1.39%135,689.96189.40
200482.78%139,465.70189.50
200490.10%139,608.79189.90
2004104.77%146,273.57190.90
2004112.73%150,263.10191.00
200412-1.35%148,235.72190.30
200511.68%150,727.87190.70
20052-0.26%150,342.63191.80
20053-2.41%146,720.99193.30
200541.34%148,681.00194.60
200552.18%151,923.28194.40
200561.81%154,669.73194.50
200570.31%155,149.24195.40
200580.28%155,583.18196.40
20059-2.62%151,500.33198.80
2005103.96%157,502.08199.20
2005112.14%160,879.13197.60
2005121.47%163,238.86196.80
20061-0.02%163,211.70198.30
200621.49%165,637.25198.70
200630.80%166,959.58199.80
20064-0.79%165,646.22201.50
20065-2.71%161,164.18202.50
200660.72%162,324.62202.90
200672.29%166,044.71203.50
200682.53%170,247.59203.90
200693.62%176,403.60202.90
2006102.00%179,934.57201.80
2006112.15%183,800.04201.50
2006120.69%185,073.45201.80
200711.60%188,027.32202.42
20072-2.47%183,375.72203.50
200734.18%191,041.31205.35
200743.39%197,520.96206.69
200750.34%198,202.21207.95
200760.57%199,341.12208.35
20077-4.20%190,966.58208.30
200783.07%196,838.31207.92
200792.99%202,726.99208.49
200710-4.81%192,983.31208.94
2007111.24%195,372.87210.18
200712-6.64%182,409.49210.04
20081-1.56%179,556.67211.08
20082-2.63%174,840.37211.69
200834.24%182,260.25213.53
200842.56%186,930.86214.82
20085-4.25%178,992.69216.63
20086-6.08%168,112.67218.82
200872.11%171,660.74219.96
20088-4.85%163,339.43219.09
20089-20.19%130,355.34218.78
200810-8.61%119,137.81216.57
200811-0.35%118,719.38212.43
200812-1.10%117,418.74210.23
20091-6.70%109,548.74211.14
20092-5.69%103,318.23212.19
2009312.32%116,048.84212.71
200946.66%123,777.48213.24
200952.87%127,328.49213.86
200961.28%128,955.29215.69
200978.12%139,427.42215.35
200983.65%144,517.00215.83
200992.40%147,989.90215.97
2009102.09%151,089.29216.18
2009112.23%154,452.32216.33
2009121.36%156,548.19215.95
20101-2.90%152,010.68216.69
201025.94%161,044.73216.74
201034.09%167,628.13217.63
20104-5.88%157,767.58218.01
20105-3.54%152,176.98218.18
20106-0.16%151,934.91217.97
201070.86%153,247.04218.01
201083.37%158,413.23218.31
201094.58%165,664.50218.44
2010102.49%169,791.06218.71
2010113.71%176,096.65218.80
2010123.46%182,193.46219.18
201113.15%187,934.13220.22
20112-1.11%185,843.43221.31
201132.22%189,970.98223.47
201140.66%191,223.34224.91
20115-3.66%184,219.59225.96
201163.10%189,933.60225.72
20117-10.40%170,179.27225.92
20118-0.79%168,836.14226.55
201193.02%173,933.15226.89
2011101.77%177,006.76226.42
2011111.55%179,758.77226.23
2011124.78%188,355.84225.67
201214.16%196,196.36226.67
201222.88%201,854.34227.66
20123-0.04%201,777.21229.39
20124-3.09%195,540.37230.09
20125-1.15%193,286.94229.82
201262.92%198,933.02229.48
201273.39%205,672.28229.10
201283.02%211,885.98230.38
20129-0.22%211,425.90231.41
201210-2.84%205,426.71231.32
2012112.18%209,895.84230.22
2012124.27%218,855.79229.60
201312.33%223,961.74230.28
201322.72%230,059.00232.17
201331.45%233,403.57232.77
201344.57%244,080.08232.53
20135-1.12%241,351.82232.95
201363.25%249,206.56233.50
201370.25%249,835.87233.60
201381.19%252,815.09233.88
201392.12%258,168.57234.15
2013103.86%268,133.86233.55
2013111.52%272,213.95233.07
2013120.97%274,848.46233.05
20141-0.13%274,491.06233.92
201422.72%281,963.44234.78
201430.20%282,532.23236.29
201441.53%286,860.72237.07
201453.20%296,029.70237.90
201461.50%300,457.78238.34
20147-0.43%299,174.98238.25
201481.78%304,494.41237.85
20149-2.65%296,435.71238.03
2014105.71%313,349.30237.43
2014110.63%315,335.58236.15
201412-1.11%311,835.21234.81
201512.83%320,652.04233.71
201520.06%320,829.56234.72
201530.88%323,647.76236.12
201540.98%326,815.96236.60
20155-0.44%325,392.67237.81
20156-0.08%325,133.56238.64
20157-2.42%317,251.03238.65
20158-4.51%302,952.23238.32
201594.32%316,031.04237.95
2015102.93%325,298.55237.84
201511-1.10%321,710.61237.34
201512-6.42%301,058.00236.53
20161-0.55%299,402.46236.92
201626.36%318,452.62237.11
201632.83%327,468.84238.13
20164-0.30%326,472.14239.26
201651.07%329,953.93240.23
201663.30%340,833.96241.02
201671.20%344,921.44240.63
20168-0.44%343,408.37240.85
20169-0.51%341,670.79241.43
2016101.20%345,774.80241.73
2016113.95%359,418.95241.35
2016121.44%364,586.08241.43
201712.58%373,979.44242.84
201721.75%380,521.30243.60
20173-0.15%379,935.29243.80
201741.69%386,365.21244.52
201751.78%393,228.71244.73
201760.99%397,113.35244.96
201770.25%398,097.42244.79
201781.65%404,679.02245.52
201792.73%415,746.18246.82
2017101.59%422,354.75246.66
2017112.88%434,533.29246.67
2017124.86%455,659.86246.52
20181-2.89%442,506.38247.87
201820.06%442,792.15248.99
20183-1.66%435,424.21249.55
201841.96%443,965.58250.55
201852.11%453,346.44251.59
201861.58%460,512.68251.99
201872.45%471,798.95252.01
201881.68%479,723.98252.15
20189-3.85%461,259.47252.44
201810-2.08%451,683.22252.89
201811-5.56%426,558.29252.04
2018121.74%433,961.79251.23
201915.83%459,257.00251.71
201921.95%468,203.43252.78
201933.72%485,635.67254.20
20194-1.53%478,196.76255.55
201951.40%484,914.22256.09
201963.83%503,473.56256.14
20197-3.13%487,692.61256.57
201983.09%502,739.04256.56
201990.01%502,788.32256.76
2019104.43%525,080.41257.35
2019112.47%538,046.32257.21
2019123.35%556,051.49256.97
202010.12%556,730.30257.97
20202-18.92%451,409.68258.68
202034.32%470,904.32258.12
202045.89%498,628.18256.39
202056.51%531,080.26256.39
202063.48%549,542.92257.80
202075.89%581,930.26259.10
20208-0.63%578,281.54259.92
202091.73%588,262.69260.28
2020103.95%611,523.28260.39
2020114.26%637,574.66260.23
2020122.80%655,396.79260.47
202112.49%671,726.19261.58
202120.82%677,243.46263.01
202136.02%718,023.58264.88
202140.76%723,482.22267.05
202151.81%736,580.31269.20
202163.07%759,180.08271.70
202172.19%775,769.39273.00
20218-0.08%775,113.88273.57
202190.45%778,618.75274.31
2021104.74%815,562.22276.59
2021110.27%817,726.75277.95
202112-2.05%800,947.39278.80
20221-2.90%777,699.33281.15
20222-0.89%770,757.71283.72
202230.12%771,669.53287.50
20224-7.87%710,918.07289.11
20225-3.37%686,964.51292.30
20226-1.60%676,001.52296.31
Click to show 1086 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 1931. This would result in a final amount of $1,109,129.39, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $676,001.52).

YearMonthContribution ($)Amount ($)
193114.164.48
193124.168.82
193134.1611.79
193144.1614.47
193154.1618.10
193164.1623.10
193174.1626.56
193184.1626.29
193194.1626.54
1931104.1631.30
1931114.1629.01
1931124.1632.86
193214.1636.97
193224.1641.57
193234.1635.08
193244.1634.76
193254.1634.05
193264.1640.53
193274.1667.59
193284.1679.16
193294.1672.28
1932104.1676.16
1932114.1678.17
1932124.3286.24
19331-76.52
19332-76.78
19333-85.41
19334-110.45
19335-129.87
19336-140.86
19337-134.32
19338-133.67
19339-121.13
193310-124.53
193311-127.42
193312-135.17
19341-145.65
19342-138.66
19343-141.46
19344-127.56
19345-129.73
19346-124.08
19347-119.72
19348-117.31
19349-118.73
193410-122.54
193411-123.84
193412-124.34
19351-121.09
19352-113.91
19353-122.95
19354-133.11
19355-138.66
19356-146.43
19357-156.83
19358-160.65
19359-165.45
193510-181.51
193511-182.05
193512-192.64
19361-204.26
19362-209.19
19363-210.06
19364-199.51
19365-208.64
19366-221.65
19367-226.74
19368-230.01
19369-242.78
193610-250.31
193611-246.80
193612-255.34
19371-263.77
19372-264.38
19373-249.51
19374-239.31
19375-231.32
19376-246.11
19377-249.65
19378-215.29
19379-184.94
193710-169.65
193711-167.93
193712-173.36
19381-170.23
19382-159.99
19383-154.48
19384-156.88
19385-161.49
19386-194.57
19387-196.63
19388-188.60
19389-210.51
193810-211.49
193811-206.09
193812-203.70
19391-202.76
19392-203.30
19393-178.42
19394-185.73
19395-189.76
19396-195.14
19397-193.06
19398-214.40
19399-217.37
193910-214.31
193911-210.08
193912-209.77
19401-209.29
19402-208.98
19403-211.95
19404-183.68
19405-168.81
19406-175.34
19407-179.99
19408-188.55
19409-191.31
194010-196.77
194011-189.70
194012-191.07
19411-180.13
19412-182.25
19413-177.61
19414-174.79
19415-181.97
19416-192.36
19417-192.51
19418-194.17
19419-187.50
194110-179.84
194111-169.27
194112-173.69
19421-169.39
19422-161.32
19423-155.75
19424-158.66
19425-167.78
19426-175.14
19427-175.22
19428-178.13
19429-192.32
194210-196.47
194211-198.54
194212-211.45
19431-225.06
19432-234.09
19433-242.96
19434-253.56
19435-259.08
19436-265.49
19437-253.44
19438-259.91
19439-258.61
194310-247.73
194311-252.12
194312-261.36
19441-260.72
19442-269.17
19443-265.65
19444-271.50
19445-285.46
19446-294.08
19447-290.98
19448-287.41
19449-295.70
194410-294.86
194411-302.53
194412-312.76
19451-324.44
19452-325.46
19453-334.90
19454-348.84
19455-356.47
19456-350.43
19457-352.90
19458-378.24
19459-395.31
194510-409.57
194511-417.86
194512-435.82
19461-438.38
19462-426.64
19463-455.52
19464-457.88
19465-456.33
19466-444.70
19467-437.48
19468-374.39
19469-367.38
194610-367.33
194611-379.80
194612-383.29
19471-399.66
19472-384.98
19473-372.28
19474-367.21
19475-381.61
19476-407.15
19477-400.80
19478-392.12
19479-403.99
194710-401.04
194711-396.54
194712-393.11
19481-375.62
19482-382.83
19483-414.17
19484-436.25
19485-456.26
19486-447.33
19487-436.20
19488-433.24
19489-447.05
194810-424.25
194811-423.58
194812-430.48
19491-416.16
19492-422.36
19493-424.11
19494-423.33
19495-402.54
19496-427.75
19497-445.59
19498-453.93
19499-468.19
194910-477.31
194911-492.78
194912-505.74
19501-518.50
19502-525.63
19503-543.42
19504-564.70
19505-576.92
19506-538.13
19507-573.85
19508-597.43
19509-625.63
195010-627.99
195011-629.21
195012-679.63
19511-708.91
19512-701.02
19513-714.53
19514-719.02
19515-710.79
19516-727.61
19517-763.73
19518-787.68
19519-787.91
195110-770.15
195111-797.98
195112-828.57
19521-817.54
19522-823.66
19523-825.34
19524-829.13
19525-856.04
19526-884.86
19527-892.65
19528-882.75
19529-868.53
195210-900.39
195211-940.98
195212-950.29
19531-942.94
19532-951.96
19533-909.38
19534-918.50
19535-889.96
19536-906.99
19537-915.14
19538-877.56
19539-908.42
195310-933.02
195311-950.16
195312-978.89
19541-1,005.09
19542-1,031.04
19543-1,076.93
19544-1,124.56
19545-1,138.31
19546-1,189.05
19547-1,217.52
19548-1,250.88
19549-1,284.78
195410-1,340.06
195411-1,406.43
195412-1,436.93
19551-1,490.17
19552-1,483.66
19553-1,540.17
19554-1,538.95
19555-1,633.52
19556-1,758.39
19557-1,753.13
19558-1,837.57
19559-1,750.75
195510-1,874.46
195511-1,897.65
195512-1,852.33
19561-1,869.92
19562-2,004.67
19563-2,034.39
19564-1,976.65
19565-1,971.47
19566-2,084.81
19567-2,078.87
19568-2,014.66
19569-1,995.44
195610-1,981.23
195611-2,017.07
195612-1,979.50
19571-1,900.40
19572-1,931.20
19573-1,982.26
19574-2,064.72
19575-2,105.07
19576-2,153.96
19577-2,041.84
19578-1,965.49
19579-1,849.59
195710-1,816.29
195711-1,822.06
195712-1,864.50
19581-1,877.58
19582-1,923.00
19583-1,940.24
19584-2,009.27
19585-2,064.23
19586-2,127.61
19587-2,213.87
19588-2,279.04
19589-2,378.39
195810-2,457.50
195811-2,510.64
195812-2,617.46
19591-2,584.35
19592-2,656.87
19593-2,708.32
19594-2,756.13
19595-2,739.42
19596-2,855.23
19597-2,846.14
19598-2,740.74
19599-2,745.58
195910-2,763.96
195911-2,859.67
195912-2,817.19
19601-2,715.51
19602-2,686.23
19603-2,728.79
19604-2,711.74
19605-2,819.89
19606-2,757.96
19607-2,799.08
19608-2,722.92
19609-2,677.34
196010-2,772.14
196011-2,846.73
196012-3,001.22
19611-3,132.50
19612-3,238.91
19613-3,333.46
19614-3,375.57
19615-3,339.11
19616-3,338.17
19617-3,466.33
19618-3,447.55
19619-3,493.85
196110-3,660.58
196111-3,703.15
196112-3,574.02
19621-3,642.26
19622-3,654.68
19623-3,547.06
19624-3,292.20
19625-2,916.47
19626-2,995.72
19627-3,086.28
19628-3,067.97
19629-2,980.34
196210-3,194.95
196211-3,342.67
196212-3,481.28
19631-3,536.83
19632-3,533.00
19633-3,708.88
19634-3,793.05
19635-3,801.27
19636-3,754.82
19637-3,868.64
19638-3,980.58
19639-4,000.48
196310-3,988.22
196311-4,083.67
196312-4,219.66
19641-4,282.11
19642-4,370.79
19643-4,444.79
19644-4,499.04
19645-4,483.26
19646-4,660.84
19647-4,603.72
19648-4,694.20
19649-4,786.69
196410-4,831.53
196411-4,759.53
196412-4,893.78
19651-4,941.50
19652-4,958.08
19653-5,035.31
19654-5,122.56
19655-4,891.66
19656-4,896.70
19657-5,000.44
19658-5,180.26
19659-5,309.60
196510-5,366.73
196511-5,355.37
196512-5,461.44
19661-5,437.93
19662-5,227.90
19663-5,401.51
19664-5,131.03
19665-5,102.32
19666-5,103.26
19667-4,808.83
19668-4,653.75
19669-4,627.48
196610-4,873.48
196611-4,908.37
196612-5,111.10
19671-5,301.74
19672-5,441.38
19673-5,549.79
19674-5,663.99
19675-5,607.81
19676-5,719.55
19677-5,825.45
19678-5,921.80
19679-5,927.57
196710-5,756.75
196711-5,935.89
196712-5,934.85
19681-5,682.20
19682-5,593.60
19683-6,022.17
19684-6,176.20
19685-6,357.82
19686-6,360.93
19687-6,237.92
19688-6,456.72
19689-6,632.17
196810-6,750.60
196811-6,837.37
196812-6,564.89
19691-6,549.23
19692-6,423.89
19693-6,569.98
19694-6,800.82
19695-6,462.73
19696-6,190.95
19697-6,173.39
19698-6,212.19
19699-6,295.83
196910-6,358.63
196911-6,038.95
196912-6,003.38
19701-5,811.51
19702-5,928.45
19703-5,765.56
19704-5,119.87
19705-5,106.05
19706-5,132.73
19707-5,299.84
19708-5,634.86
19709-5,775.14
197010-5,787.08
197011-6,201.34
197012-6,456.26
19711-6,724.27
19712-6,914.69
19713-7,168.72
19714-7,089.30
19715-6,976.17
19716-6,943.87
19717-6,838.52
19718-7,008.56
19719-6,877.94
197110-6,577.27
197111-7,048.44
197112-7,360.16
19721-7,513.76
19722-7,710.59
19723-7,807.66
19724-7,747.08
19725-7,787.06
19726-7,747.83
19727-8,040.98
19728-7,943.65
19729-7,976.81
197210-8,395.93
197211-8,590.00
197212-8,674.99
19731-8,386.53
19732-8,273.70
19733-8,138.57
19734-7,929.43
19735-7,771.65
19736-7,865.70
19737-7,737.07
19738-7,891.44
19739-8,225.67
197310-7,661.98
197311-7,140.56
197312-7,261.98
19741-7,082.40
19742-7,406.39
19743-7,049.65
19744-6,858.91
19745-6,890.28
19746-6,108.45
19747-5,878.48
19748-5,289.83
19749-5,415.57
197410-5,618.30
197411-5,276.04
197412-5,731.51
19751-6,350.94
19752-6,666.81
19753-6,765.95
19754-7,220.13
19755-7,429.12
19756-7,461.21
19757-6,939.21
19758-6,880.04
19759-7,222.06
197510-7,369.52
197511-7,282.58
197512-7,977.73
19761-8,311.05
19762-8,377.74
19763-8,469.51
19764-8,437.05
19765-8,513.03
19766-8,739.93
19767-8,690.94
19768-8,902.81
19769-8,626.09
197610-8,594.46
197611-8,919.89
197612-8,871.97
19771-8,661.83
19772-8,657.14
19773-8,553.80
19774-8,559.32
19775-8,636.33
19776-8,747.09
19777-8,565.27
19778-8,464.60
19779-8,278.56
197710-8,359.78
197711-8,353.08
197712-8,069.88
19781-7,991.44
19782-8,012.68
19783-8,399.69
19784-8,862.03
19785-8,921.72
19786-8,916.17
19787-9,569.56
19788-9,607.80
19789-9,341.33
197810-8,833.38
197811-9,003.23
197812-9,380.05
19791-9,280.90
19792-9,498.18
19793-9,729.08
19794-9,544.90
19795-9,775.66
19796-9,914.56
19797-10,411.71
19798-10,572.10
19799-10,217.67
197910-10,184.72
197911-10,633.26
197912-10,985.48
19801-11,468.38
19802-10,461.71
19803-10,340.14
19804-10,860.88
19805-11,606.23
19806-12,183.00
19807-12,609.97
19808-12,967.57
19809-13,398.71
198010-14,017.02
198011-13,842.54
198012-13,843.92
19811-13,418.89
19812-13,974.87
19813-14,155.68
19814-13,926.74
19815-14,046.18
19816-13,762.97
19817-13,873.43
19818-12,721.56
19819-12,941.29
198110-13,335.19
198111-13,492.46
198112-12,844.27
19821-12,598.44
19822-12,252.67
19823-12,922.81
19824-12,996.42
19825-12,311.43
19826-12,341.45
19827-12,439.44
19828-13,944.16
19829-15,182.60
198210-15,865.80
198211-16,080.87
198212-16,712.16
19831-17,068.13
19832-17,727.92
19833-18,472.03
19834-19,289.23
19835-19,627.47
19836-19,766.46
19837-19,290.65
19838-19,929.91
19839-20,059.04
198310-19,830.08
198311-19,804.67
198312-20,116.78
19841-19,088.37
19842-19,172.81
19843-19,270.06
19844-19,221.39
19845-18,866.12
19846-18,694.73
19847-20,415.87
19848-20,703.11
19849-20,617.73
198410-20,882.86
198411-20,735.10
198412-21,709.14
19851-22,965.53
19852-22,855.68
19853-23,089.89
19854-23,721.54
19855-24,317.18
19856-24,863.64
19857-24,404.83
19858-23,944.80
19859-24,302.91
198510-25,863.28
198511-27,232.62
198512-27,437.33
19861-29,000.51
19862-30,793.54
19863-31,637.72
19864-31,793.33
19865-32,789.49
19866-32,198.00
19867-32,932.38
19868-32,123.49
19869-32,094.62
198610-33,228.50
198611-33,796.36
198612-36,051.72
19871-38,381.33
19872-40,061.06
19873-39,717.97
19874-39,786.62
19875-41,576.39
19876-42,874.45
19877-45,641.57
19878-44,258.44
19879-39,012.09
198710-34,212.27
198711-33,755.64
198712-35,189.09
19881-36,360.38
19882-37,535.57
19883-37,203.00
19884-36,388.90
19885-38,571.58
19886-38,453.19
19887-37,792.38
19888-38,520.70
19889-39,985.11
198810-39,177.31
198811-40,088.56
198812-41,496.73
19891-42,866.07
19892-42,796.77
19893-44,322.39
19894-46,146.39
19895-47,711.96
19896-49,047.98
19897-51,348.70
19898-51,582.61
19899-51,730.27
198910-50,792.11
198911-52,182.14
198912-51,028.28
19901-49,738.70
19902-51,085.21
19903-51,185.33
19904-53,156.44
19905-54,841.48
19906-54,934.55
19907-50,616.02
19908-48,418.75
19909-47,297.49
199010-48,708.76
199011-50,942.83
199012-50,593.79
19911-56,466.10
19912-58,185.27
19913-59,499.58
19914-59,393.15
19915-59,599.25
19916-60,064.41
19917-61,673.50
19918-61,486.56
19919-61,598.25
199110-61,607.98
199111-62,184.10
199112-66,759.62
19921-66,358.50
19922-65,686.70
19923-65,860.32
19924-67,222.54
19925-66,329.07
19926-67,597.37
19927-68,233.95
19928-68,492.00
19929-67,682.38
199210-69,548.32
199211-71,823.39
199212-71,926.02
19931-73,166.20
19932-74,739.38
19933-73,736.57
19934-74,270.96
19935-74,913.54
19936-74,959.24
19937-76,280.37
19938-77,313.95
19939-78,274.11
199310-78,280.02
199311-78,974.50
199312-80,345.41
19941-80,284.58
19942-79,141.48
19943-76,493.11
19944-77,302.59
19945-78,159.17
19946-77,753.62
19947-80,150.05
19948-80,805.25
19949-80,446.47
199410-80,148.91
199411-79,326.82
199412-81,271.26
19951-84,375.08
19952-86,533.54
19953-89,316.07
19954-92,306.16
19955-95,240.04
19956-98,618.66
19957-99,124.70
19958-102,809.82
19959-103,748.03
199510-106,194.81
199511-109,793.90
199512-109,972.40
19961-116,465.60
19962-116,231.86
19963-116,460.88
19964-119,203.34
19965-120,727.46
19966-116,530.29
19967-120,114.48
19968-122,545.27
19969-127,593.52
199610-134,039.64
199611-135,645.74
199612-140,064.46
19971-146,172.90
19972-145,261.24
19973-140,314.74
19974-153,248.71
19975-161,427.33
19976-170,686.68
19977-171,280.31
19978-173,321.98
19979-176,173.78
199710-174,144.18
199711-178,732.21
199712-179,155.97
19981-190,625.82
19982-200,753.52
19983-207,590.53
19984-207,129.98
19985-207,371.20
19986-216,635.85
19987-201,534.15
19988-191,662.10
19989-194,136.18
199810-215,441.43
199811-224,283.38
199812-235,604.50
19991-235,447.33
19992-242,330.65
19993-252,629.76
19994-252,380.08
19995-250,836.10
19996-262,179.88
19997-252,284.20
19998-250,775.50
19999-247,584.45
199910-265,177.68
199911-272,625.81
199912-272,301.57
20001-265,553.72
20002-276,019.07
20003-279,951.42
20004-272,004.18
20005-280,608.98
20006-282,995.11
20007-285,654.45
20008-282,570.38
20009-267,836.51
200010-265,767.30
200011-256,943.63
200012-258,112.74
20011-252,598.79
20012-229,663.07
20013-230,693.55
20014-246,563.73
20015-240,674.18
20016-234,271.70
20017-229,478.87
20018-203,668.64
20019-210,153.51
200110-220,772.88
200111-224,009.52
200112-223,342.67
20021-215,854.50
20022-226,529.09
20023-218,567.88
20024-212,403.45
20025-199,827.13
20026-178,328.73
20027-180,359.52
20028-171,778.50
20029-169,430.22
200210-180,655.95
200211-178,786.05
200212-178,388.22
20031-166,944.91
20032-169,128.38
20033-178,068.26
20034-187,527.63
20035-198,224.55
20036-199,405.77
20037-199,074.11
20038-205,367.20
20039-209,531.70
200310-212,068.26
200311-218,565.63
200312-229,351.76
20041-231,844.04
20042-228,215.22
20043-230,424.66
20044-224,515.99
20045-230,931.93
20046-225,761.87
20047-222,629.27
20048-228,824.20
20049-229,058.97
200410-239,994.00
200411-246,539.71
200412-243,213.35
20051-247,302.26
20052-246,670.19
20053-240,728.11
20054-243,943.92
20055-249,263.60
20056-253,769.77
20057-254,556.50
20058-255,268.47
20059-248,569.66
200510-258,416.86
200511-263,957.65
200512-267,829.30
20061-267,784.74
20062-271,764.39
20063-273,933.97
20064-271,779.11
20065-264,425.33
20066-266,329.30
20067-272,432.92
20068-279,328.67
20069-289,428.95
200610-295,222.29
200611-301,564.45
200612-303,653.76
20071-308,500.22
20072-300,868.26
20073-313,445.34
20074-324,076.63
20075-325,194.38
20076-327,063.01
20077-313,322.74
20078-322,956.61
20079-332,618.28
200710-316,631.62
200711-320,552.22
200712-299,282.95
20081-294,602.26
20082-286,864.13
20083-299,038.08
20084-306,701.24
20085-293,676.92
20086-275,825.86
20087-281,647.26
20088-267,994.30
20089-213,876.65
200810-195,471.82
200811-194,785.29
200812-192,651.30
20091-179,738.84
20092-169,516.30
20093-190,403.68
20094-203,084.23
20095-208,910.43
20096-211,579.56
20097-228,761.39
20098-237,111.97
20099-242,810.03
200910-247,895.26
200911-253,413.06
200912-256,851.79
20101-249,407.01
20102-264,229.36
20103-275,030.87
20104-258,852.46
20105-249,679.86
20106-249,282.69
20107-251,435.52
20108-259,911.80
20109-271,809.10
201010-278,579.63
201011-288,925.34
201012-298,928.49
20111-308,347.33
20112-304,917.08
20113-311,689.24
20114-313,744.00
20115-302,252.81
20116-311,627.90
20117-279,216.58
20118-277,012.88
20119-285,375.63
201110-290,418.57
201111-294,933.86
201112-309,039.24
20121-321,903.33
20122-331,186.50
20123-331,059.96
20124-320,827.05
20125-317,129.80
20126-326,393.44
20127-337,450.67
20128-347,645.62
20129-346,890.76
201210-337,047.76
201211-344,380.35
201212-359,081.12
20131-367,458.56
20132-377,462.45
20133-382,949.97
20134-400,467.14
20135-395,990.81
20136-408,878.25
20137-409,910.78
20138-414,798.83
20139-423,582.40
201310-439,932.66
201311-446,626.94
201312-450,949.43
20141-450,363.04
20142-462,623.13
20143-463,556.36
20144-470,658.20
20145-485,701.93
20146-492,967.17
20147-490,862.44
20148-499,590.14
20149-486,368.07
201410-514,118.54
201411-517,377.47
201412-511,634.35
20151-526,100.29
20152-526,391.56
20153-531,015.43
20154-536,213.56
20155-533,878.35
20156-533,453.22
20157-520,520.20
20158-497,059.85
20159-518,518.52
201510-533,723.92
201511-527,837.11
201512-493,951.96
20161-491,235.67
20162-522,491.66
20163-537,284.76
20164-535,649.45
20165-541,362.10
20166-559,213.19
20167-565,919.59
20168-563,437.06
20169-560,586.18
201610-567,319.72
201611-589,705.95
201612-598,183.77
20171-613,595.64
20172-624,329.01
20173-623,367.52
20174-633,917.22
20175-645,178.30
20176-651,551.92
20177-653,166.50
20178-663,965.06
20179-682,123.17
201710-692,965.99
201711-712,947.57
201712-747,610.35
20181-726,029.19
20182-726,498.04
20183-714,409.32
20184-728,423.32
20185-743,814.69
20186-755,572.48
20187-774,090.09
20188-787,092.85
20189-756,797.75
201810-741,085.81
201811-699,862.82
201812-712,009.90
20191-753,512.26
20192-768,190.84
20193-796,792.28
20194-784,587.10
20195-795,608.58
20196-826,059.26
20197-800,167.14
20198-824,854.12
20199-824,934.98
201910-861,510.06
201911-882,783.49
201912-912,324.94
20201-913,438.68
20202-740,637.01
20203-772,622.26
20204-818,109.36
20205-871,354.14
20206-901,646.20
20207-954,784.76
20208-948,798.23
20209-965,174.51
202010-1,003,338.63
202011-1,046,081.66
202012-1,075,322.78
20211-1,102,114.76
20212-1,111,167.06
20213-1,178,075.83
20214-1,187,031.93
20215-1,208,522.23
20216-1,245,602.13
20217-1,272,820.55
20218-1,271,745.03
20219-1,277,495.56
202110-1,338,109.45
202111-1,341,660.84
202112-1,314,130.60
20221-1,275,987.04
20222-1,264,597.79
20223-1,266,093.83
20224-1,166,417.68
20225-1,127,116.58
20226-1,109,129.39
Click to show 1086 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 1931 to 2022
Start Value
Average monthly close
$15.98
End Value
Average monthly close
$3,831.39
Change in price+23,876.16%
+6.21% / yr
Change incl. dividends+675,901.52%
+10.12% / yr
Change incl. dividends, inflation-adjusted+34,593.55%
+6.60% / yr
Final amount, nominal
($100 base)
$676,001.52
Final amount, inflation-adjusted
($100 base)
$34,693.55