S&P 500: $100 in 1932 → $1,197,084.82 in 2022

$

Stock market returns since 1932

If you invested $100 in the S&P 500 at the beginning of 1932, you would have about $1,197,084.82 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 1,196,984.82%, or 10.89% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 54,931.55% cumulatively, or 7.19% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $1,211,633.48.

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 $1,196,984.82, or 1,196,984.82%. This means by 2022 you would have $1,197,084.82 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 1932 was 13.700 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 90 years.

Adjusted for inflation, the $1,197,084.82 nominal end value of the original $100 investment would have a real return of roughly $54,931.55 in 1932 dollars. This means the inflation-adjusted return is 54,931.55% as opposed to the original 1,196,984.82%.

For more information on inflation, see our U.S. inflation calculator for 1932.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1090-month period between 1932 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
19321-0.05%99.9514.30
193221.14%101.0914.10
19323-23.22%77.6214.00
19324-11.31%68.8313.90
19325-12.39%60.3013.70
193266.18%64.0313.60
1932751.35%96.9213.60
1932810.37%106.9613.50
19329-13.22%92.8313.40
193210-0.34%92.5113.30
193211-2.64%90.0713.20
1932124.57%94.1913.10
19331-11.27%83.5812.90
193320.33%83.8612.70
1933311.24%93.2812.60
1933429.32%120.6312.60
1933517.58%141.8412.60
193368.46%153.8412.70
19337-4.64%146.7013.10
19338-0.48%145.9913.20
19339-9.38%132.3013.20
1933102.80%136.0113.20
1933112.32%139.1713.20
1933126.08%147.6413.20
193417.75%159.0813.20
19342-4.80%151.4413.30
193432.02%154.5013.30
19344-9.83%139.3213.30
193451.70%141.6913.30
19346-4.36%135.5213.40
19347-3.51%130.7613.40
19348-2.01%128.1313.40
193491.21%129.6813.60
1934103.21%133.8413.50
1934111.06%135.2613.50
1934120.40%135.8113.40
19351-2.62%132.2513.60
19352-5.93%124.4113.70
193537.94%134.2813.70
193548.27%145.3813.80
193554.17%151.4513.80
193565.60%159.9313.70
193577.10%171.2913.70
193582.43%175.4613.70
193592.99%180.7013.70
1935109.71%198.2513.70
1935110.29%198.8313.80
1935125.82%210.4113.80
193616.03%223.1013.80
193622.41%228.4813.80
193630.41%229.4313.70
19364-5.02%217.9113.70
193654.57%227.8813.70
193666.23%242.0813.80
193672.30%247.6413.90
193681.44%251.2214.00
193695.55%265.1614.00
1936103.10%273.3914.00
193611-1.40%269.5614.00
1936123.46%278.8814.00
193713.30%288.0914.10
193720.23%288.7514.10
19373-5.62%272.5114.20
19374-4.09%261.3814.30
19375-3.34%252.6514.40
193766.39%268.8114.40
193771.44%272.6714.50
19378-13.76%235.1414.50
19379-14.10%201.9914.60
193710-8.27%185.3014.60
193711-1.02%183.4114.50
1937123.24%189.3414.40
19381-1.80%185.9314.20
19382-6.02%174.7414.10
19383-3.44%168.7214.10
193841.56%171.3514.20
193852.93%176.3814.10
1938620.49%212.5114.10
193871.06%214.7614.10
19388-4.08%205.9814.10
1938911.62%229.9114.10
1938100.47%230.9914.00
193811-2.55%225.0914.00
193812-1.16%222.4814.00
19391-0.46%221.4614.00
193920.27%222.0513.90
19393-12.24%194.8713.90
193944.10%202.8513.80
193952.17%207.2613.80
193962.84%213.1313.80
19397-1.07%210.8613.80
1939811.06%234.1713.80
193991.38%237.4114.10
193910-1.41%234.0714.00
193911-1.97%229.4514.00
193912-0.15%229.1114.00
19401-0.23%228.5913.90
19402-0.15%228.2514.00
194031.42%231.4914.00
19404-13.34%200.6114.00
19405-8.09%184.3714.00
194063.87%191.5114.10
194072.65%196.5814.00
194084.76%205.9314.00
194091.47%208.9514.00
1940102.85%214.9114.00
194011-3.59%207.1914.00
1940120.72%208.6914.10
19411-5.72%196.7414.10
194121.18%199.0614.10
19413-2.55%193.9914.20
19414-1.59%190.9114.30
194154.11%198.7514.40
194165.71%210.1014.70
194170.08%210.2614.70
194180.86%212.0714.90
19419-3.43%204.7915.10
194110-4.08%196.4315.30
194111-5.88%184.8715.40
1941122.62%189.7115.50
19421-2.48%185.0115.70
19422-4.76%176.2015.80
19423-3.45%170.1116.00
194241.87%173.2916.10
194255.75%183.2516.30
194264.38%191.2816.30
194270.05%191.3716.40
194281.66%194.5516.50
194297.97%210.0516.50
1942102.15%214.5816.70
1942111.06%216.8516.80
1942126.50%230.9516.90
194316.43%245.8116.90
194324.01%255.6816.90
194333.79%265.3617.20
194344.36%276.9417.40
194352.18%282.9717.50
194362.47%289.9717.50
19437-4.54%276.8117.40
194382.55%283.8717.30
19439-0.50%282.4517.40
194310-4.21%270.5717.40
1943111.77%275.3617.40
1943123.67%285.4617.40
19441-0.24%284.7617.40
194423.24%293.9917.40
19443-1.31%290.1417.40
194442.20%296.5317.50
194455.14%311.7817.50
194463.02%321.1917.60
19447-1.06%317.8017.70
19448-1.23%313.9117.70
194492.88%322.9617.70
194410-0.28%322.0417.70
1944112.60%330.4217.70
1944123.38%341.6017.80
194513.73%354.3517.80
194520.31%355.4717.80
194532.90%365.7817.80
194544.16%381.0017.80
194552.19%389.3417.90
19456-1.70%382.7418.10
194570.71%385.4418.10
194587.18%413.1118.10
194594.51%431.7618.10
1945103.61%447.3318.10
1945112.02%456.3918.10
1945124.30%476.0118.20
194610.59%478.7918.20
19462-2.68%465.9718.10
194636.77%497.5218.30
194640.52%500.0918.40
19465-0.34%498.4018.50
19466-2.55%485.7018.70
19467-1.62%477.8219.80
19468-14.42%408.9020.20
19469-1.87%401.2520.40
194610-0.01%401.2020.80
1946113.39%414.8121.30
1946120.92%418.6321.50
194714.27%436.5021.50
19472-3.67%420.4721.50
19473-3.30%406.6021.90
19474-1.36%401.0721.90
194753.92%416.7921.90
194766.69%444.6922.00
19477-1.56%437.7622.20
19478-2.17%428.2722.50
194793.03%441.2323.00
194710-0.73%438.0123.00
194711-1.12%433.1023.10
194712-0.86%429.3523.40
19481-4.45%410.2523.70
194821.92%418.1223.50
194838.19%452.3623.40
194845.33%476.4723.80
194854.59%498.3223.90
19486-1.96%488.5724.10
19487-2.49%476.4124.40
19488-0.68%473.1824.50
194893.19%488.2724.50
194810-5.10%463.3724.40
194811-0.16%462.6324.20
1948121.63%470.1724.10
19491-3.33%454.5324.00
194921.49%461.3123.80
194930.41%463.2123.80
19494-0.18%462.3723.90
19495-4.91%439.6523.80
194966.26%467.1923.90
194974.17%486.6723.70
194981.87%495.7823.80
194993.14%511.3623.90
1949101.95%521.3123.70
1949113.24%538.2123.80
1949122.63%552.3723.60
195012.52%566.3023.50
195021.38%574.0923.50
195033.39%593.5323.60
195043.91%616.7623.60
195052.16%630.1123.70
19506-6.72%587.7523.80
195076.64%626.7624.10
195084.11%652.5124.30
195094.72%683.3224.40
1950100.38%685.8924.60
1950110.19%687.2224.70
1950128.01%742.2925.00
195114.31%774.2725.40
19512-1.11%765.6625.70
195131.93%780.4125.80
195140.63%785.3125.80
19515-1.15%776.3225.90
195162.37%794.6925.90
195174.97%834.1525.90
195183.14%860.3125.90
195190.03%860.5526.10
195110-2.25%841.1626.20
1951113.61%871.5526.40
1951123.83%904.9726.50
19521-1.33%892.9126.50
195220.75%899.6126.30
195230.20%901.4326.30
195240.46%905.5826.40
195253.24%934.9626.40
195263.37%966.4426.50
195270.88%974.9526.70
19528-1.11%964.1426.70
19529-1.61%948.6126.70
1952103.67%983.4026.70
1952114.51%1,027.7426.70
1952120.99%1,037.9126.70
19531-0.77%1,029.8826.60
195320.96%1,039.7426.50
19533-4.47%993.2326.60
195341.00%1,003.1926.60
19535-3.11%972.0126.70
195361.91%990.6126.80
195370.90%999.5226.80
19538-4.11%958.4726.90
195393.52%992.1826.90
1953102.71%1,019.0527.00
1953111.84%1,037.7626.90
1953123.02%1,069.1526.90
195412.68%1,097.7626.90
195422.58%1,126.1126.90
195434.45%1,176.2226.90
195444.42%1,228.2426.80
195451.22%1,243.2726.90
195464.46%1,298.6826.90
195472.39%1,329.7826.90
195482.74%1,366.2126.90
195492.71%1,403.2426.80
1954104.30%1,463.6126.80
1954114.95%1,536.1126.80
1954122.17%1,569.4226.70
195513.70%1,627.5626.70
19552-0.44%1,620.4626.70
195533.81%1,682.1726.70
19554-0.08%1,680.8526.70
195556.15%1,784.1426.70
195567.64%1,920.5226.70
19557-0.30%1,914.7726.80
195584.82%2,006.9926.80
19559-4.72%1,912.1726.90
1955107.07%2,047.2826.90
1955111.24%2,072.6126.90
195512-2.39%2,023.1226.80
195610.95%2,042.3326.80
195627.21%2,189.5026.80
195631.48%2,221.9726.80
19564-2.84%2,158.9026.90
19565-0.26%2,153.2427.00
195665.75%2,277.0327.20
19567-0.28%2,270.5427.40
19568-3.09%2,200.4127.30
19569-0.95%2,179.4327.40
195610-0.71%2,163.9027.50
1956111.81%2,203.0427.50
195612-1.86%2,162.0127.60
19571-4.00%2,075.6227.60
195721.62%2,109.2627.70
195732.64%2,165.0327.80
195744.16%2,255.1027.90
195751.95%2,299.1628.00
195762.32%2,352.5528.10
19577-5.21%2,230.1028.30
19578-3.74%2,146.7128.30
19579-5.90%2,020.1228.30
195710-1.80%1,983.7528.30
1957110.32%1,990.0628.40
1957122.33%2,036.4028.40
195810.70%2,050.7028.60
195822.42%2,100.3028.60
195830.90%2,119.1328.80
195843.56%2,194.5328.90
195852.74%2,254.5528.90
195863.07%2,323.7828.90
195874.05%2,418.0029.00
195882.94%2,489.1828.90
195894.36%2,597.6828.90
1958103.33%2,684.0828.90
1958112.16%2,742.1329.00
1958124.25%2,858.7928.90
19591-1.27%2,822.6329.00
195922.81%2,901.8428.90
195931.94%2,958.0328.90
195941.77%3,010.2529.00
19595-0.61%2,992.0029.00
195964.23%3,118.4929.10
19597-0.32%3,108.5629.20
19598-3.70%2,993.4429.20
195990.18%2,998.7329.30
1959100.67%3,018.8029.40
1959113.46%3,123.3429.40
195912-1.49%3,076.9429.40
19601-3.61%2,965.8829.30
19602-1.08%2,933.9029.40
196031.58%2,980.3929.40
19604-0.62%2,961.7729.50
196053.99%3,079.8929.50
19606-2.20%3,012.2529.60
196071.49%3,057.1629.60
19608-2.72%2,973.9829.60
19609-1.67%2,924.2029.60
1960103.54%3,027.7429.80
1960112.69%3,109.2129.80
1960125.43%3,277.9429.80
196114.37%3,421.3229.80
196123.40%3,537.5529.80
196132.92%3,640.8129.80
196141.26%3,686.8029.80
19615-1.08%3,646.9829.80
19616-0.03%3,645.9629.80
196173.84%3,785.9330.00
19618-0.54%3,765.4229.90
196191.34%3,815.9930.00
1961104.77%3,998.0930.00
1961111.16%4,044.5930.00
196112-3.49%3,903.5530.00
196211.91%3,978.0930.00
196220.34%3,991.6530.10
19623-2.94%3,874.1030.10
19624-7.19%3,595.7430.20
19625-11.41%3,185.3730.20
196262.72%3,271.9330.20
196273.02%3,370.8430.30
19628-0.59%3,350.8430.30
19629-2.86%3,255.1330.40
1962107.20%3,489.5330.40
1962114.62%3,650.8730.40
1962124.15%3,802.2630.40
196311.60%3,862.9330.40
19632-0.11%3,858.7530.40
196334.98%4,050.8430.50
196342.27%4,142.7830.50
196350.22%4,151.7530.50
19636-1.22%4,101.0230.60
196373.03%4,225.3330.70
196382.89%4,347.6030.70
196390.50%4,369.3330.70
196310-0.31%4,355.9330.80
1963112.39%4,460.1930.80
1963123.33%4,608.7230.90
196411.48%4,676.9330.90
196422.07%4,773.7930.90
196431.69%4,854.6130.90
196441.22%4,913.8630.90
19645-0.35%4,896.6230.90
196463.96%5,090.5831.00
19647-1.23%5,028.1931.10
196481.97%5,127.0131.00
196491.97%5,228.0331.10
1964100.94%5,277.0131.10
196411-1.49%5,198.3631.20
1964122.82%5,345.0031.20
196510.98%5,397.1231.20
196520.34%5,415.2331.20
196531.56%5,499.5831.30
196541.73%5,594.8631.40
19655-4.51%5,342.6831.40
196560.10%5,348.1831.60
196572.12%5,461.4931.60
196583.60%5,657.8931.60
196592.50%5,799.1631.60
1965101.08%5,861.5531.70
196511-0.21%5,849.1531.70
1965121.98%5,964.9931.80
19661-0.43%5,939.3131.80
19662-3.86%5,709.9232.00
196633.32%5,899.5432.10
19664-5.01%5,604.1232.30
19665-0.56%5,572.7632.30
196660.02%5,573.7932.40
19667-5.77%5,252.2132.50
19668-3.22%5,082.8332.70
19669-0.56%5,054.1532.70
1966105.32%5,322.8332.90
1966110.72%5,360.9332.90
1966124.13%5,582.3532.90
196713.73%5,790.5732.90
196722.63%5,943.0832.90
196731.99%6,061.4933.00
196742.06%6,186.2233.10
19675-0.99%6,124.8633.20
196761.99%6,246.9033.30
196771.85%6,362.5733.40
196781.65%6,467.8033.50
196790.10%6,474.1033.60
196710-2.88%6,287.5333.70
1967113.11%6,483.1833.80
196712-0.02%6,482.0533.90
19681-4.26%6,206.1134.10
19682-1.56%6,109.3434.20
196837.66%6,577.4334.30
196842.56%6,745.6634.40
196852.94%6,944.0234.50
196860.05%6,947.4234.70
19687-1.93%6,813.0634.90
196883.51%7,052.0435.00
196892.72%7,243.6635.10
1968101.79%7,373.0135.30
1968111.29%7,467.7835.40
196812-3.99%7,170.1835.50
19691-0.24%7,153.0835.60
19692-1.91%7,016.1835.80
196932.27%7,175.7536.10
196943.51%7,427.8636.30
19695-4.97%7,058.6036.40
19696-4.21%6,761.7636.60
19697-0.28%6,742.5936.80
196980.63%6,784.9737.00
196991.35%6,876.3237.10
1969101.00%6,944.9137.30
196911-5.03%6,595.7537.50
196912-0.59%6,556.9037.70
19701-3.20%6,347.3437.80
197022.01%6,475.0638.00
19703-2.75%6,297.1538.20
19704-11.20%5,591.9338.50
19705-0.27%5,576.8438.60
197060.52%5,605.9838.80
197073.26%5,788.5039.00
197086.32%6,154.4139.00
197092.49%6,307.6239.20
1970100.21%6,320.6639.40
1970117.16%6,773.1239.60
1970124.11%7,051.5439.80
197114.15%7,344.2539.80
197122.83%7,552.2339.90
197133.67%7,829.6940.00
19714-1.11%7,742.9540.10
19715-1.60%7,619.3840.30
19716-0.46%7,584.1040.60
19717-1.52%7,469.0540.70
197182.49%7,654.7640.80
19719-1.86%7,512.1040.80
197110-4.37%7,183.7040.90
1971117.16%7,698.3140.90
1971124.42%8,038.7841.10
197212.09%8,206.5441.10
197222.62%8,421.5241.30
197231.26%8,527.5441.40
19724-0.78%8,461.3841.50
197250.52%8,505.0441.60
19726-0.50%8,462.1941.70
197273.78%8,782.3741.90
19728-1.21%8,676.0742.00
197290.42%8,712.2842.10
1972105.25%9,170.0442.30
1972112.31%9,382.0142.40
1972120.99%9,474.8342.50
19731-3.33%9,159.7842.60
19732-1.35%9,036.5542.90
19733-1.63%8,888.9643.30
19734-2.57%8,660.5343.60
19735-1.99%8,488.2143.90
197361.21%8,590.9344.20
19737-1.64%8,450.4444.30
197382.00%8,619.0545.10
197394.24%8,984.0945.20
197310-6.85%8,368.4245.60
197311-6.81%7,798.9345.90
1973121.70%7,931.5446.20
19741-2.47%7,735.4146.60
197424.57%8,089.2847.20
19743-4.82%7,699.6447.80
19744-2.71%7,491.3248.00
197450.46%7,525.5748.60
19746-11.35%6,671.6549.00
19747-3.76%6,420.4849.40
19748-10.01%5,777.5650.00
197492.38%5,914.8950.60
1974103.74%6,136.3151.10
197411-6.09%5,762.5051.50
1974128.63%6,259.9651.90
1975110.81%6,936.5152.10
197524.97%7,281.5052.50
197531.49%7,389.7852.70
197546.71%7,885.8352.90
197552.89%8,114.1053.20
197560.43%8,149.1553.60
19757-7.00%7,579.0254.20
19758-0.85%7,514.3954.30
197594.97%7,887.9554.60
1975102.04%8,049.0054.90
197511-1.18%7,954.0555.30
1975129.55%8,713.2955.50
197614.18%9,077.3455.60
197620.80%9,150.1855.80
197631.10%9,250.4155.90
19764-0.38%9,214.9656.10
197650.90%9,297.9556.50
197662.67%9,545.7756.80
19767-0.56%9,492.2557.10
197682.44%9,723.6657.40
19769-3.11%9,421.4357.60
197610-0.37%9,386.8957.90
1976113.79%9,742.3258.00
197612-0.54%9,689.9858.20
19771-2.37%9,460.4758.50
19772-0.05%9,455.3459.10
19773-1.19%9,342.4759.50
197740.06%9,348.5060.00
197750.90%9,432.6160.30
197761.28%9,553.5860.70
19777-2.08%9,355.0061.00
19778-1.18%9,245.0561.20
19779-2.20%9,041.8561.40
1977100.98%9,130.5761.60
197711-0.08%9,123.2561.90
197712-3.39%8,813.9462.10
19781-0.97%8,728.2762.50
197820.27%8,751.4662.90
197834.83%9,174.1563.40
197845.50%9,679.1363.90
197850.67%9,744.3264.50
19786-0.06%9,738.2565.20
197877.33%10,451.8865.70
197880.40%10,493.6666.00
19789-2.77%10,202.6266.50
197810-5.44%9,647.8367.10
1978111.92%9,833.3567.40
1978124.19%10,244.9067.70
19791-1.06%10,136.6268.30
197922.34%10,373.9369.10
197932.43%10,626.1169.80
19794-1.89%10,424.9670.60
197952.42%10,677.0071.50
197961.42%10,828.7072.30
197975.01%11,371.6973.10
197981.54%11,546.8673.80
19799-3.35%11,159.7574.60
197910-0.32%11,123.7775.20
1979114.40%11,613.6675.90
1979123.31%11,998.3676.70
198014.40%12,525.7977.80
19802-8.78%11,426.2978.90
19803-1.16%11,293.5280.10
198045.04%11,862.2781.00
198056.86%12,676.3481.80
198064.97%13,306.2982.70
198073.50%13,772.6382.70
198082.84%14,163.2083.30
198093.32%14,634.0984.00
1980104.61%15,309.4184.80
198011-1.24%15,118.8485.50
1980120.01%15,120.3586.30
19811-3.07%14,656.1387.00
198124.14%15,263.3887.90
198131.29%15,460.8588.50
19814-1.62%15,210.8189.10
198150.86%15,341.2689.80
19816-2.02%15,031.9490.60
198170.80%15,152.5891.60
19818-8.30%13,894.5192.30
198191.73%14,134.5093.20
1981103.04%14,564.7293.40
1981111.18%14,736.4993.70
198112-4.80%14,028.5394.00
19821-1.91%13,760.0494.30
19822-2.74%13,382.3994.60
198235.47%14,114.3194.50
198240.57%14,194.7294.90
19825-5.27%13,446.5795.80
198260.24%13,479.3697.00
198270.79%13,586.3897.50
1982812.10%15,229.8497.70
198298.88%16,582.4697.90
1982104.50%17,328.6698.20
1982111.36%17,563.5598.00
1982123.93%18,253.0597.60
198312.13%18,641.8497.80
198323.87%19,362.4697.90
198334.20%20,175.1897.90
198344.42%21,067.7398.60
198351.75%21,437.1699.20
198360.71%21,588.9699.50
19837-2.41%21,069.2799.90
198383.31%21,767.47100.20
198390.65%21,908.51100.70
198310-1.14%21,658.44101.00
198311-0.13%21,630.69101.20
1983121.58%21,971.58101.30
19841-5.11%20,848.35101.90
198420.44%20,940.58102.40
198430.51%21,046.79102.60
19844-0.25%20,993.63103.10
19845-1.85%20,605.60103.40
19846-0.91%20,418.41103.70
198479.21%22,298.24104.10
198481.41%22,611.97104.50
19849-0.41%22,518.72105.00
1984101.29%22,808.29105.30
198411-0.71%22,646.91105.30
1984124.70%23,710.76105.30
198515.79%25,082.99105.50
19852-0.48%24,963.01106.00
198531.02%25,218.81106.40
198542.74%25,908.71106.90
198552.51%26,559.26107.30
198562.25%27,156.11107.60
19857-1.85%26,655.00107.80
19858-1.88%26,152.55108.00
198591.50%26,543.68108.30
1985106.42%28,247.92108.70
1985115.29%29,743.51109.00
1985120.75%29,967.10109.30
198615.70%31,674.40109.60
198626.18%33,632.76109.30
198632.74%34,554.77108.80
198640.49%34,724.72108.60
198653.13%35,812.73108.90
19866-1.80%35,166.70109.50
198672.28%35,968.80109.50
19868-2.46%35,085.32109.70
19869-0.09%35,053.79110.20
1986103.53%36,292.23110.30
1986111.71%36,912.44110.40
1986126.67%39,375.74110.50
198716.46%41,920.15111.20
198724.38%43,754.75111.60
19873-0.86%43,380.03112.10
198740.17%43,455.00112.70
198754.50%45,409.80113.10
198763.12%46,827.54113.50
198776.45%49,849.80113.80
19878-3.03%48,339.14114.40
19879-11.85%42,609.07115.00
198710-12.30%37,366.70115.30
198711-1.33%36,867.97115.40
1987124.25%38,433.58115.40
198813.33%39,712.87115.70
198823.23%40,996.41116.00
19883-0.89%40,633.17116.50
19884-2.19%39,744.01117.10
198856.00%42,127.94117.50
19886-0.31%41,998.64118.00
19887-1.72%41,276.90118.50
198881.93%42,072.37119.00
198893.80%43,671.80119.80
198810-2.02%42,789.52120.20
1988112.33%43,784.79120.30
1988123.51%45,322.80120.50
198913.30%46,818.38121.10
19892-0.16%46,742.70121.60
198933.56%48,408.98122.30
198944.12%50,401.16123.10
198953.39%52,111.08123.80
198962.80%53,570.28124.10
198974.69%56,083.13124.40
198980.46%56,338.61124.60
198990.29%56,499.88125.00
198910-1.81%55,475.23125.60
1989112.74%56,993.42125.90
198912-2.21%55,733.17126.10
19901-2.53%54,324.69127.40
199022.71%55,795.35128.00
199030.20%55,904.70128.70
199043.85%58,057.55128.90
199053.17%59,897.95129.20
199060.17%59,999.61129.90
19907-7.86%55,282.90130.40
19908-4.34%52,883.04131.60
19909-2.32%51,658.39132.70
1990102.98%53,199.78133.50
1990114.59%55,639.84133.80
199012-0.69%55,258.62133.80
1991111.61%61,672.36134.60
199123.04%63,550.05134.80
199132.26%64,985.53135.00
19914-0.18%64,869.29135.20
199150.35%65,094.39135.60
199160.78%65,602.45136.00
199172.68%67,359.89136.20
19918-0.30%67,155.72136.60
199190.18%67,277.71137.20
1991100.02%67,288.33137.40
1991110.94%67,917.57137.80
1991127.36%72,914.97137.90
19921-0.60%72,476.86138.10
19922-1.01%71,743.12138.60
199230.26%71,932.74139.30
199242.07%73,420.56139.50
19925-1.33%72,444.71139.70
199261.91%73,829.95140.20
199270.94%74,525.22140.50
199280.38%74,807.07140.90
19929-1.18%73,922.81141.30
1992102.76%75,960.79141.80
1992113.27%78,445.62142.00
1992120.14%78,557.71141.90
199311.72%79,912.24142.60
199322.15%81,630.47143.10
19933-1.34%80,535.20143.60
199340.72%81,118.86144.00
199350.87%81,820.69144.20
199360.06%81,870.60144.40
199371.76%83,313.54144.40
199381.35%84,442.42144.80
199391.24%85,491.11145.10
1993100.01%85,497.56145.70
1993110.89%86,256.08145.80
1993121.74%87,753.38145.80
19941-0.08%87,686.95146.20
19942-1.42%86,438.45146.70
19943-3.35%83,545.89147.20
199441.06%84,430.01147.40
199451.11%85,365.57147.50
19946-0.52%84,922.63148.00
199473.08%87,540.01148.40
199480.82%88,255.62149.00
19949-0.44%87,863.76149.40
199410-0.37%87,538.77149.50
199411-1.03%86,640.88149.70
1994122.45%88,764.60149.70
199513.82%92,154.60150.30
199522.56%94,512.07150.90
199533.22%97,551.16151.40
199543.35%100,816.93151.90
199553.18%104,021.32152.20
199563.55%107,711.46152.50
199570.51%108,264.15152.50
199583.72%112,289.05152.90
199590.91%113,313.76153.20
1995102.36%115,986.14153.70
1995113.39%119,917.07153.60
1995120.16%120,112.03153.50
199615.90%127,203.92154.40
19962-0.20%126,948.62154.90
199630.20%127,198.76155.70
199642.35%130,194.07156.30
199651.28%131,858.72156.60
19966-3.48%127,274.57156.70
199673.08%131,189.22157.00
199682.02%133,844.13157.30
199694.12%139,357.84157.80
1996105.05%146,398.31158.30
1996111.20%148,152.50158.60
1996123.26%152,978.62158.60
199714.36%159,650.27159.10
19972-0.62%158,654.56159.60
19973-3.41%153,251.98160.00
199749.22%167,378.49160.20
199755.34%176,311.18160.10
199765.74%186,424.26160.30
199770.35%187,072.62160.50
199781.19%189,302.54160.80
199791.65%192,417.28161.20
199710-1.15%190,200.55161.60
1997112.63%195,211.61161.50
1997120.24%195,674.43161.30
199816.40%208,201.82161.60
199825.31%219,263.31161.90
199833.41%226,730.71162.20
19984-0.22%226,227.69162.50
199850.12%226,491.15162.80
199864.47%236,610.02163.00
19987-6.97%220,115.92163.20
19988-4.90%209,333.65163.40
199891.29%212,035.85163.60
19981010.97%235,305.48164.00
1998114.10%244,962.66164.00
1998125.05%257,327.61163.90
19991-0.07%257,155.94164.30
199922.92%264,673.92164.50
199934.25%275,922.62165.00
19994-0.10%275,649.92166.20
19995-0.61%273,963.59166.20
199964.52%286,353.28166.20
19997-3.77%275,545.21166.70
19998-0.60%273,897.40167.10
19999-1.27%270,412.13167.90
1999107.11%289,627.48168.20
1999112.81%297,762.34168.30
199912-0.12%297,408.20168.30
20001-2.48%290,038.20168.80
200023.94%301,468.47169.80
200031.42%305,763.39171.20
20004-2.84%297,083.39171.30
200053.16%306,481.57171.50
200060.85%309,087.71172.40
200070.94%311,992.24172.80
20008-1.08%308,623.82172.80
20009-5.21%292,531.46173.70
200010-0.77%290,271.47174.00
200011-3.32%280,634.24174.10
2000120.46%281,911.15174.00
20011-2.14%275,888.80175.10
20012-9.08%250,838.36175.80
200130.45%251,963.86176.20
200146.88%269,297.29176.90
20015-2.39%262,864.72177.70
20016-2.66%255,871.92178.00
20017-2.05%250,637.19177.50
20018-11.25%222,447.21177.50
200193.18%229,530.00178.30
2001105.05%241,128.49177.70
2001111.47%244,663.55177.40
200112-0.30%243,935.21176.70
20021-3.35%235,756.63177.10
200224.95%247,415.43177.80
20023-3.51%238,720.18178.80
20024-2.82%231,987.39179.80
20025-5.92%218,251.51179.80
20026-10.76%194,770.92179.90
200271.14%196,988.96180.10
20028-4.76%187,616.75180.70
20029-1.37%185,051.95181.00
2002106.63%197,312.71181.30
200211-1.04%195,270.41181.30
200212-0.22%194,835.89180.90
20031-6.41%182,337.49181.70
200321.31%184,722.28183.10
200335.29%194,486.44184.20
200345.31%204,817.97183.80
200355.70%216,501.17183.50
200360.60%217,791.30183.70
20037-0.17%217,429.06183.90
200383.16%224,302.38184.60
200392.03%228,850.85185.20
2003101.21%231,621.29185.00
2003113.06%238,717.73184.50
2003124.93%250,498.35184.30
200411.09%253,220.43185.20
20042-1.57%249,257.03186.20
200430.97%251,670.18187.40
20044-2.56%245,216.72188.00
200452.86%252,224.22189.10
20046-2.24%246,577.47189.70
20047-1.39%243,156.04189.40
200482.78%249,922.16189.50
200490.10%250,178.57189.90
2004104.77%262,121.83190.90
2004112.73%269,271.07191.00
200412-1.35%265,638.00190.30
200511.68%270,103.93190.70
20052-0.26%269,413.57191.80
20053-2.41%262,923.62193.30
200541.34%266,435.94194.60
200552.18%272,246.10194.40
200561.81%277,167.74194.50
200570.31%278,027.01195.40
200580.28%278,804.63196.40
20059-2.62%271,488.18198.80
2005103.96%282,243.30199.20
2005112.14%288,294.97197.60
2005121.47%292,523.59196.80
20061-0.02%292,474.92198.30
200621.49%296,821.50198.70
200630.80%299,191.11199.80
20064-0.79%296,837.57201.50
20065-2.71%288,805.76202.50
200660.72%290,885.28202.90
200672.29%297,551.67203.50
200682.53%305,083.22203.90
200693.62%316,114.76202.90
2006102.00%322,442.25201.80
2006112.15%329,369.17201.50
2006120.69%331,651.12201.80
200711.60%336,944.43202.42
20072-2.47%328,608.80203.50
200734.18%342,345.50205.35
200743.39%353,957.01206.69
200750.34%355,177.81207.95
200760.57%357,218.74208.35
20077-4.20%342,211.59208.30
200783.07%352,733.72207.92
200792.99%363,286.22208.49
200710-4.81%345,825.56208.94
2007111.24%350,107.64210.18
200712-6.64%326,877.31210.04
20081-1.56%321,765.06211.08
20082-2.63%313,313.46211.69
200834.24%326,609.87213.53
200842.56%334,979.59214.82
20085-4.25%320,754.40216.63
20086-6.08%301,257.44218.82
200872.11%307,615.58219.96
20088-4.85%292,703.80219.09
20089-20.19%233,596.41218.78
200810-8.61%213,494.63216.57
200811-0.35%212,744.80212.43
200812-1.10%210,414.06210.23
20091-6.70%196,311.04211.14
20092-5.69%185,145.98212.19
2009312.32%207,959.20212.71
200946.66%221,808.91213.24
200952.87%228,172.30213.86
200961.28%231,087.53215.69
200978.12%249,853.56215.35
200983.65%258,974.07215.83
200992.40%265,197.50215.97
2009102.09%270,751.60216.18
2009112.23%276,778.14216.33
2009121.36%280,533.93215.95
20101-2.90%272,402.73216.69
201025.94%288,591.72216.74
201034.09%300,389.15217.63
20104-5.88%282,719.07218.01
20105-3.54%272,700.74218.18
20106-0.16%272,266.94217.97
201070.86%274,618.27218.01
201083.37%283,876.08218.31
201094.58%296,870.33218.44
2010102.49%304,265.11218.71
2010113.71%315,564.72218.80
2010123.46%326,490.18219.18
201113.15%336,777.44220.22
20112-1.11%333,030.92221.31
201132.22%340,427.48223.47
201140.66%342,671.70224.91
20115-3.66%330,121.00225.96
201163.10%340,360.48225.72
20117-10.40%304,960.79225.92
20118-0.79%302,553.90226.55
201193.02%311,687.72226.89
2011101.77%317,195.62226.42
2011111.55%322,127.23226.23
2011124.78%337,533.15225.67
201214.16%351,583.33226.67
201222.88%361,722.42227.66
20123-0.04%361,584.21229.39
20124-3.09%350,407.81230.09
20125-1.15%346,369.67229.82
201262.92%356,487.43229.48
201273.39%368,564.16229.10
201283.02%379,699.10230.38
20129-0.22%378,874.64231.41
201210-2.84%368,124.09231.32
2012112.18%376,132.76230.22
2012124.27%392,188.97229.60
201312.33%401,338.83230.28
201322.72%412,265.09232.17
201331.45%418,258.57232.77
201344.57%437,390.84232.53
20135-1.12%432,501.80232.95
201363.25%446,577.47233.50
201370.25%447,705.20233.60
201381.19%453,043.94233.88
201392.12%462,637.37234.15
2013103.86%480,495.15233.55
2013111.52%487,806.66233.07
2013120.97%492,527.69233.05
20141-0.13%491,887.23233.92
201422.72%505,277.72234.78
201430.20%506,296.99236.29
201441.53%514,053.63237.07
201453.20%530,484.42237.90
201461.50%538,419.52238.34
20147-0.43%536,120.74238.25
201481.78%545,653.14237.85
20149-2.65%531,211.98238.03
2014105.71%561,521.09237.43
2014110.63%565,080.50236.15
201412-1.11%558,807.85234.81
201512.83%574,607.57233.71
201520.06%574,925.69234.72
201530.88%579,975.89236.12
201540.98%585,653.30236.60
20155-0.44%583,102.78237.81
20156-0.08%582,638.46238.64
20157-2.42%568,512.98238.65
20158-4.51%542,889.56238.32
201594.32%566,326.75237.95
2015102.93%582,934.11237.84
201511-1.10%576,504.52237.34
201512-6.42%539,495.12236.53
20161-0.55%536,528.38236.92
201626.36%570,666.22237.11
201632.83%586,823.27238.13
20164-0.30%585,037.18239.26
201651.07%591,276.55240.23
201663.30%610,773.53241.02
201671.20%618,098.27240.63
20168-0.44%615,386.85240.85
20169-0.51%612,273.11241.43
2016101.20%619,627.50241.73
2016113.95%644,077.77241.35
2016121.44%653,337.26241.43
201712.58%670,170.14242.84
201721.75%681,893.13243.60
20173-0.15%680,842.99243.80
201741.69%692,365.40244.52
201751.78%704,664.77244.73
201760.99%711,626.04244.96
201770.25%713,389.49244.79
201781.65%725,183.69245.52
201792.73%745,016.01246.82
2017101.59%756,858.55246.66
2017112.88%778,682.46246.67
2017124.86%816,541.21246.52
20181-2.89%792,970.23247.87
201820.06%793,482.31248.99
20183-1.66%780,278.99249.55
201841.96%795,585.11250.55
201852.11%812,395.58251.59
201861.58%825,237.46251.99
201872.45%845,462.42252.01
201881.68%859,664.06252.15
20189-3.85%826,575.71252.44
201810-2.08%809,415.10252.89
201811-5.56%764,391.29252.04
2018121.74%777,658.34251.23
201915.83%822,987.29251.71
201921.95%839,019.26252.78
201933.72%870,257.79254.20
20194-1.53%856,927.28255.55
201951.40%868,964.96256.09
201963.83%902,223.23256.14
20197-3.13%873,943.82256.57
201983.09%900,906.98256.56
201990.01%900,995.29256.76
2019104.43%940,942.65257.35
2019112.47%964,177.53257.21
2019123.35%996,442.75256.97
202010.12%997,659.17257.97
20202-18.92%808,924.91258.68
202034.32%843,859.26258.12
202045.89%893,540.34256.39
202056.51%951,694.37256.39
202063.48%984,779.41257.80
202075.89%1,042,817.43259.10
20208-0.63%1,036,278.94259.92
202091.73%1,054,165.13260.28
2020103.95%1,095,848.04260.39
2020114.26%1,142,532.05260.23
2020122.80%1,174,469.25260.47
202112.49%1,203,731.48261.58
202120.82%1,213,618.43263.01
202136.02%1,286,696.29264.88
202140.76%1,296,478.16267.05
202151.81%1,319,949.90269.20
202163.07%1,360,448.62271.70
202172.19%1,390,176.62273.00
20218-0.08%1,389,001.94273.57
202190.45%1,395,282.68274.31
2021104.74%1,461,485.27276.59
2021110.27%1,465,364.10277.95
202112-2.05%1,435,295.52278.80
20221-2.90%1,393,635.07281.15
20222-0.89%1,381,195.71283.72
202230.12%1,382,829.69287.50
20224-7.87%1,273,963.24289.11
20225-3.37%1,231,038.51292.30
202260.46%1,236,758.97296.31
202276.45%1,316,497.69296.28
20228-7.28%1,220,690.83296.17
20229-3.09%1,182,957.14296.81
2022101.19%1,197,084.82298.01
Click to show 1074 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 1932. This would result in a final amount of $1,211,633.48, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $1,197,084.82).

YearMonthContribution ($)Amount ($)
193214.164.12
193224.168.35
193234.169.57
193244.1612.14
193254.1614.24
193264.1619.49
193274.1635.74
193284.1644.01
193294.1641.78
1932104.1645.76
1932114.1648.58
1932124.1655.12
193314.1652.58
193324.1656.90
193334.1667.90
193344.1693.16
193354.16114.41
193364.16128.59
193374.16126.57
193384.16130.09
193394.16121.64
1933104.16129.31
1933114.16136.55
1933124.32149.43
19341-161.01
19342-153.28
19343-156.38
19344-141.01
19345-143.41
19346-137.17
19347-132.35
19348-129.69
19349-131.25
193410-135.47
193411-136.90
193412-137.46
19351-133.86
19352-125.92
19353-135.91
19354-147.15
19355-153.29
19356-161.87
19357-173.38
19358-177.59
19359-182.90
193510-200.66
193511-201.25
193512-212.96
19361-225.81
19362-231.25
19363-232.21
19364-220.56
19365-230.64
19366-245.02
19367-250.65
19368-254.27
19369-268.39
193610-276.71
193611-272.84
193612-282.27
19371-291.59
19372-292.26
19373-275.82
19374-264.56
19375-255.72
19376-272.07
19377-275.98
19378-238.00
19379-204.45
193710-187.55
193711-185.64
193712-191.65
19381-188.19
19382-176.86
19383-170.77
19384-173.43
19385-178.52
19386-215.09
19387-217.37
19388-208.49
19389-232.71
193810-233.79
193811-227.83
193812-225.18
19391-224.15
19392-224.75
19393-197.24
19394-205.32
19395-209.77
19396-215.72
19397-213.42
19398-237.02
19399-240.30
193910-236.91
193911-232.24
193912-231.89
19401-231.36
19402-231.03
19403-234.31
19404-203.05
19405-186.61
19406-193.83
19407-198.97
19408-208.44
19409-211.49
194010-217.52
194011-209.71
194012-211.22
19411-199.13
19412-201.47
19413-196.34
19414-193.23
19415-201.16
19416-212.65
19417-212.81
19418-214.65
19419-207.28
194110-198.81
194111-187.12
194112-192.02
19421-187.26
19422-178.34
19423-172.18
19424-175.40
19425-185.48
19426-193.61
19427-193.70
19428-196.92
19429-212.61
194210-217.19
194211-219.48
194212-233.76
19431-248.80
19432-258.78
19433-268.58
19434-280.30
19435-286.41
19436-293.49
19437-280.17
19438-287.32
19439-285.89
194310-273.86
194311-278.71
194312-288.93
19441-288.22
19442-297.56
19443-293.67
19444-300.14
19445-315.57
19446-325.10
19447-321.67
19448-317.73
19449-326.89
194410-325.96
194411-334.43
194412-345.75
19451-358.66
19452-359.79
19453-370.23
19454-385.63
19455-394.07
19456-387.39
19457-390.12
19458-418.13
19459-437.01
194510-452.77
194511-461.93
194512-481.79
19461-484.61
19462-471.64
19463-503.56
19464-506.17
19465-504.46
19466-491.61
19467-483.62
19468-413.87
19469-406.13
194610-406.07
194611-419.85
194612-423.72
19471-441.81
19472-425.58
19473-411.55
19474-405.94
19475-421.86
19476-450.09
19477-443.08
19478-433.48
19479-446.60
194710-443.34
194711-438.36
194712-434.57
19481-415.24
19482-423.20
19483-457.85
19484-482.26
19485-504.38
19486-494.51
19487-482.20
19488-478.94
19489-494.21
194810-469.00
194811-468.26
194812-475.89
19491-460.05
19492-466.91
19493-468.84
19494-467.99
19495-444.99
19496-472.87
19497-492.59
19498-501.80
19499-517.57
194910-527.65
194911-544.75
194912-559.08
19501-573.18
19502-581.07
19503-600.74
19504-624.26
19505-637.77
19506-594.89
19507-634.38
19508-660.44
19509-691.62
195010-694.22
195011-695.58
195012-751.31
19511-783.68
19512-774.96
19513-789.89
19514-794.86
19515-785.76
19516-804.35
19517-844.29
19518-870.76
19519-871.01
195110-851.38
195111-882.15
195112-915.97
19521-903.77
19522-910.54
19523-912.39
19524-916.59
19525-946.33
19526-978.19
19527-986.80
19528-975.86
19529-960.14
195210-995.35
195211-1,040.23
195212-1,050.52
19531-1,042.40
19532-1,052.37
19533-1,005.30
19534-1,015.38
19535-983.83
19536-1,002.65
19537-1,011.67
19538-970.12
19539-1,004.23
195310-1,031.43
195311-1,050.38
195312-1,082.14
19541-1,111.10
19542-1,139.79
19543-1,190.52
19544-1,243.17
19545-1,258.38
19546-1,314.47
19547-1,345.94
19548-1,382.81
19549-1,420.30
195410-1,481.40
195411-1,554.78
195412-1,588.49
19551-1,647.34
19552-1,640.16
19553-1,702.62
19554-1,701.28
19555-1,805.82
19556-1,943.86
19557-1,938.04
19558-2,031.39
19559-1,935.41
195510-2,072.16
195511-2,097.80
195512-2,047.71
19561-2,067.15
19562-2,216.11
19563-2,248.97
19564-2,185.14
19565-2,179.41
19566-2,304.70
19567-2,298.14
19568-2,227.15
19569-2,205.92
195610-2,190.20
195611-2,229.82
195612-2,188.29
19571-2,100.85
19572-2,134.89
19573-2,191.34
19574-2,282.50
19575-2,327.11
19576-2,381.15
19577-2,257.20
19578-2,172.80
19579-2,044.68
195710-2,007.86
195711-2,014.25
195712-2,061.15
19581-2,075.62
19582-2,125.83
19583-2,144.89
19584-2,221.20
19585-2,281.95
19586-2,352.02
19587-2,447.38
19588-2,519.43
19589-2,629.25
195810-2,716.70
195811-2,775.45
195812-2,893.54
19591-2,856.93
19592-2,937.11
19593-2,993.98
19594-3,046.84
19595-3,028.36
19596-3,156.39
19597-3,146.34
19598-3,029.82
19599-3,035.18
195910-3,055.49
195911-3,161.30
195912-3,114.33
19601-3,001.93
19602-2,969.56
19603-3,016.61
19604-2,997.77
19605-3,117.32
19606-3,048.86
19607-3,094.32
19608-3,010.13
19609-2,959.74
196010-3,064.54
196011-3,146.99
196012-3,317.78
19611-3,462.90
19612-3,580.54
19613-3,685.06
19614-3,731.61
19615-3,691.30
19616-3,690.27
19617-3,831.94
19618-3,811.18
19619-3,862.37
196110-4,046.68
196111-4,093.74
196112-3,950.99
19621-4,026.43
19622-4,040.16
19623-3,921.18
19624-3,639.44
19625-3,224.08
19626-3,311.69
19627-3,411.81
19628-3,391.56
19629-3,294.69
196210-3,531.94
196211-3,695.24
196212-3,848.47
19631-3,909.88
19632-3,905.64
19633-4,100.07
19634-4,193.13
19635-4,202.21
19636-4,150.87
19637-4,276.68
19638-4,400.44
19639-4,422.43
196310-4,408.87
196311-4,514.39
196312-4,664.73
19641-4,733.77
19642-4,831.80
19643-4,913.61
19644-4,973.58
19645-4,956.13
19646-5,152.45
19647-5,089.30
19648-5,189.32
19649-5,291.56
196410-5,341.14
196411-5,261.54
196412-5,409.96
19651-5,462.71
19652-5,481.04
19653-5,566.42
19654-5,662.86
19655-5,407.61
19656-5,413.18
19657-5,527.86
19658-5,726.65
19659-5,869.63
196510-5,932.79
196511-5,920.24
196512-6,037.48
19661-6,011.50
19662-5,779.31
19663-5,971.24
19664-5,672.23
19665-5,640.49
19666-5,641.53
19667-5,316.04
19668-5,144.61
19669-5,115.57
196610-5,387.52
196611-5,426.08
196612-5,650.19
19671-5,860.95
19672-6,015.31
19673-6,135.16
19674-6,261.40
19675-6,199.30
19676-6,322.82
19677-6,439.89
19678-6,546.40
19679-6,552.78
196710-6,363.95
196711-6,561.98
196712-6,560.83
19681-6,281.54
19682-6,183.59
19683-6,657.36
19684-6,827.64
19685-7,028.42
19686-7,031.86
19687-6,895.87
19688-7,137.75
19689-7,331.70
196810-7,462.62
196811-7,558.54
196812-7,257.32
19691-7,240.01
19692-7,101.45
19693-7,262.96
19694-7,518.14
19695-7,144.39
19696-6,843.94
19697-6,824.53
19698-6,867.43
19699-6,959.89
196910-7,029.31
196911-6,675.92
196912-6,636.59
19701-6,424.48
19702-6,553.76
19703-6,373.68
19704-5,659.89
19705-5,644.62
19706-5,674.11
19707-5,858.85
19708-6,229.20
19709-6,384.28
197010-6,397.48
197011-6,855.43
197012-7,137.24
19711-7,433.51
19712-7,644.02
19713-7,924.85
19714-7,837.05
19715-7,711.98
19716-7,676.28
19717-7,559.82
19718-7,747.79
19719-7,603.39
197110-7,271.01
197111-7,791.88
197112-8,136.47
19721-8,306.28
19722-8,523.87
19723-8,631.18
19724-8,564.21
19725-8,608.41
19726-8,565.04
19727-8,889.11
19728-8,781.51
19729-8,818.17
197210-9,281.49
197211-9,496.03
197212-9,589.98
19731-9,271.11
19732-9,146.38
19733-8,996.99
19734-8,765.79
19735-8,591.37
19736-8,695.34
19737-8,553.14
19738-8,723.80
19739-9,093.28
197310-8,470.13
197311-7,893.71
197312-8,027.94
19741-7,829.42
19742-8,187.59
19743-7,793.22
19744-7,582.36
19745-7,617.03
19746-6,752.74
19747-6,498.51
19748-5,847.78
19749-5,986.78
197410-6,210.89
197411-5,832.53
197412-6,336.04
19751-7,020.81
19752-7,370.00
19753-7,479.59
19754-7,981.67
19755-8,212.71
19756-8,248.19
19757-7,671.13
19758-7,605.72
19759-7,983.82
197510-8,146.82
197511-8,050.72
197512-8,819.18
19761-9,187.66
19762-9,261.38
19763-9,362.84
19764-9,326.95
19765-9,410.95
19766-9,661.78
19767-9,607.62
19768-9,841.84
19769-9,535.93
197610-9,500.97
197611-9,860.73
197612-9,807.75
19771-9,575.44
19772-9,570.25
19773-9,456.02
19774-9,462.12
19775-9,547.25
19776-9,669.69
19777-9,468.69
19778-9,357.41
19779-9,151.74
197710-9,241.54
197711-9,234.13
197712-8,921.06
19781-8,834.35
19782-8,857.82
19783-9,285.65
19784-9,796.76
19785-9,862.75
19786-9,856.60
19787-10,578.91
19788-10,621.19
19789-10,326.61
197810-9,765.09
197811-9,952.85
197812-10,369.41
19791-10,259.81
19792-10,500.01
19793-10,755.26
19794-10,551.66
19795-10,806.76
19796-10,960.30
19797-11,509.89
19798-11,687.20
19799-11,295.38
197910-11,258.96
197911-11,754.80
197912-12,144.18
19801-12,678.02
19802-11,565.16
19803-11,430.77
19804-12,006.44
19805-12,830.40
19806-13,468.01
19807-13,940.02
19808-14,335.33
19809-14,811.94
198010-15,495.47
198011-15,302.59
198012-15,304.11
19811-14,834.25
19812-15,448.88
19813-15,648.76
19814-15,395.67
19815-15,527.70
19816-15,214.63
19817-15,336.73
19818-14,063.37
19819-14,306.28
198110-14,741.73
198111-14,915.59
198112-14,199.02
19821-13,927.27
19822-13,545.03
19823-14,285.85
19824-14,367.23
19825-13,609.99
19826-13,643.18
19827-13,751.50
19828-15,414.93
19829-16,783.99
198210-17,539.26
198211-17,777.00
198212-18,474.88
19831-18,868.40
19832-19,597.78
19833-20,420.38
19834-21,323.78
19835-21,697.69
19836-21,851.34
19837-21,325.34
19838-22,032.02
19839-22,174.77
198310-21,921.67
198311-21,893.58
198312-22,238.61
19841-21,101.73
19842-21,195.08
19843-21,302.58
19844-21,248.77
19845-20,856.03
19846-20,666.56
19847-22,569.24
19848-22,886.79
19849-22,792.40
198410-23,085.49
198411-22,922.14
198412-23,998.93
19851-25,387.83
19852-25,266.40
19853-25,525.31
19854-26,223.59
19855-26,882.05
19856-27,486.15
19857-26,978.94
19858-26,470.39
19859-26,866.27
198510-28,591.23
198511-30,105.00
198512-30,331.30
19861-32,059.35
19862-34,041.51
19863-34,974.73
19864-35,146.75
19865-36,247.98
19866-35,594.10
19867-36,405.95
19868-35,511.73
19869-35,479.82
198610-36,733.30
198611-37,361.05
198612-39,854.29
19871-42,429.63
19872-44,286.52
19873-43,907.25
19874-43,983.13
19875-45,961.69
19876-47,396.66
19877-50,455.64
19878-48,926.62
19879-43,126.92
198710-37,820.83
198711-37,316.04
198712-38,900.68
19881-40,195.52
19882-41,494.66
19883-41,127.01
19884-40,227.04
19885-42,639.93
19886-42,509.06
19887-41,778.55
19888-42,583.70
19889-44,202.56
198810-43,309.56
198811-44,316.92
198812-45,873.63
19891-47,387.39
19892-47,310.78
19893-48,997.32
19894-51,013.70
19895-52,744.41
19896-54,221.34
19897-56,764.73
19898-57,023.31
19899-57,186.55
198910-56,149.44
198911-57,686.09
198912-56,410.52
19901-54,984.92
19902-56,473.45
19903-56,584.13
19904-58,763.14
19905-60,625.91
19906-60,728.81
19907-55,954.78
19908-53,525.75
19909-52,286.21
199010-53,846.34
199011-56,316.06
199012-55,930.20
19911-62,421.89
19912-64,322.40
19913-65,775.33
19914-65,657.67
19915-65,885.51
19916-66,399.74
19917-68,178.54
19918-67,971.89
19919-68,095.36
199110-68,106.12
199111-68,743.00
199112-73,801.13
19921-73,357.70
19922-72,615.04
19923-72,806.97
19924-74,312.87
19925-73,325.16
19926-74,727.24
19927-75,430.96
19928-75,716.23
19929-74,821.22
199210-76,883.97
199211-79,399.00
199212-79,512.45
19931-80,883.45
19932-82,622.56
19933-81,513.98
19934-82,104.73
19935-82,815.09
19936-82,865.61
19937-84,326.08
19938-85,468.68
19939-86,530.12
199310-86,536.65
199311-87,304.38
199312-88,819.88
19941-88,752.65
19942-87,488.97
19943-84,561.26
19944-85,456.12
19945-86,403.05
19946-85,954.73
19947-88,603.92
19948-89,328.23
19949-88,931.61
199410-88,602.66
199411-87,693.86
199412-89,843.39
19951-93,274.59
19952-95,660.71
19953-98,736.74
19954-102,042.20
19955-105,285.54
19956-109,020.52
19957-109,579.93
19958-113,653.74
19959-114,690.91
199510-117,395.76
199511-121,374.47
199512-121,571.80
19961-128,749.88
19962-128,491.48
19963-128,744.66
19964-131,776.37
19965-133,461.26
19966-128,821.39
19967-132,783.62
19968-135,470.80
19969-141,051.51
199610-148,177.55
199611-149,953.05
199612-154,837.84
19971-161,590.57
19972-160,582.75
19973-155,114.51
19974-169,412.71
19975-178,453.97
19976-188,689.95
19977-189,346.19
19978-191,603.22
19979-194,755.81
199710-192,512.14
199711-197,584.09
199712-198,052.54
19981-210,732.18
19982-221,928.11
19983-229,486.26
19984-228,977.13
19985-229,243.79
19986-239,485.64
19987-222,791.08
19988-211,877.77
19989-214,612.80
199810-238,165.24
199811-247,939.79
199812-260,455.01
19991-260,281.26
19992-267,890.61
19993-279,276.02
19994-279,000.01
19995-277,293.18
19996-289,833.45
19997-278,894.02
19998-277,226.19
19999-273,698.56
199910-293,147.45
199911-301,381.17
199912-301,022.73
20001-293,563.15
20002-305,132.34
20003-309,479.45
20004-300,693.97
20005-310,206.36
20006-312,844.18
20007-315,784.01
20008-312,374.65
20009-296,086.72
200010-293,799.26
200011-284,044.90
200012-285,337.33
20011-279,241.79
20012-253,886.91
20013-255,026.08
20014-272,570.17
20015-266,059.42
20016-258,981.63
20017-253,683.29
20018-225,150.70
20019-232,319.57
200110-244,059.02
200111-247,637.05
200112-246,899.86
20021-238,621.87
20022-250,422.37
20023-241,621.45
20024-234,806.83
20025-220,904.01
20026-197,138.05
20027-199,383.04
20028-189,896.94
20029-187,300.97
200210-199,710.73
200211-197,643.61
200212-197,203.81
20031-184,553.51
20032-186,967.29
20033-196,850.11
20034-207,307.21
20035-219,132.39
20036-220,438.20
20037-220,071.56
20038-227,028.42
20039-231,632.17
200310-234,436.28
200311-241,618.96
200312-253,542.76
20041-256,297.92
20042-252,286.35
20043-254,728.83
20044-248,196.94
20045-255,289.60
20046-249,574.23
20047-246,111.21
20048-252,959.56
20049-253,219.09
200410-265,307.50
200411-272,543.63
200412-268,866.41
20051-273,386.61
20052-272,687.87
20053-266,119.04
20054-269,674.04
20055-275,554.82
20056-280,536.27
20057-281,405.99
20058-282,193.05
20059-274,787.69
200510-285,673.52
200511-291,798.73
200512-296,078.75
20061-296,029.48
20062-300,428.89
20063-302,827.31
20064-300,445.16
20065-292,315.73
20066-294,420.53
20067-301,167.94
20068-308,791.02
20069-319,956.63
200610-326,361.02
200611-333,372.12
200612-335,681.81
20071-341,039.46
20072-332,602.51
20073-346,506.16
20074-358,258.80
20075-359,494.44
20076-361,560.16
20077-346,370.63
20078-357,020.64
20079-367,701.38
200710-350,028.52
200711-354,362.64
200712-330,849.98
20081-325,675.60
20082-317,121.29
20083-330,579.29
20084-339,050.73
20085-324,652.66
20086-304,918.74
20087-311,354.16
20088-296,261.15
20089-236,435.40
200810-216,089.32
200811-215,330.37
200812-212,971.31
20091-198,696.89
20092-187,396.13
20093-210,486.61
20094-224,504.65
20095-230,945.37
20096-233,896.03
20097-252,890.13
20098-262,121.49
20099-268,420.55
200910-274,042.15
200911-280,141.94
200912-283,943.38
20101-275,713.35
20102-292,099.10
20103-304,039.90
20104-286,155.07
20105-276,014.98
20106-275,575.92
20107-277,955.82
20108-287,326.14
20109-300,478.31
201010-307,962.97
201011-319,399.90
201012-330,458.14
20111-340,870.43
20112-337,078.38
20113-344,564.83
20114-346,836.33
20115-334,133.10
20116-344,497.02
20117-308,667.10
20118-306,230.96
20119-315,475.79
201110-321,050.63
201111-326,042.17
201112-341,635.33
20121-355,856.27
20122-366,118.58
20123-365,978.69
20124-354,666.46
20125-350,579.25
20126-360,819.97
20127-373,043.47
20128-384,313.73
20129-383,479.26
201210-372,598.06
201211-380,704.06
201212-396,955.40
20131-406,216.46
20132-417,275.52
20133-423,341.83
20134-442,706.63
20135-437,758.17
20136-452,004.91
20137-453,146.35
20138-458,549.97
20139-468,259.99
201310-486,334.80
201311-493,735.17
201312-498,513.58
20141-497,865.33
20142-511,418.57
20143-512,450.22
20144-520,301.14
20145-536,931.61
20146-544,963.15
20147-542,636.43
20148-552,284.69
20149-537,668.01
201410-568,345.48
201411-571,948.15
201412-565,599.27
20151-581,591.01
20152-581,913.00
20153-587,024.58
20154-592,770.98
20155-590,189.47
20156-589,719.50
20157-575,422.35
20158-549,487.52
20159-573,209.55
201510-590,018.75
201511-583,511.02
201512-546,051.82
20161-543,049.03
20162-577,601.76
20163-593,955.17
20164-592,147.38
20165-598,462.57
20166-618,196.51
20167-625,610.27
20168-622,865.90
20169-619,714.32
201610-627,158.08
201611-651,905.51
201612-661,277.53
20171-678,314.99
20172-690,180.46
20173-689,117.55
20174-700,779.99
20175-713,228.85
20176-720,274.72
20177-722,059.60
20178-733,997.14
20179-754,070.49
201710-766,056.96
201711-788,146.11
201712-826,464.97
20181-802,607.52
20182-803,125.83
20183-789,762.04
20184-805,254.18
20185-822,268.96
20186-835,266.91
20187-855,737.67
20188-870,111.90
20189-836,621.42
201810-819,252.25
201811-773,681.24
201812-787,109.54
20191-832,989.38
20192-849,216.20
20193-880,834.39
20194-867,341.87
20195-879,525.84
20196-913,188.32
20197-884,565.22
20198-911,856.07
20199-911,945.45
201910-952,378.31
201911-975,895.58
201912-1,008,552.92
20201-1,009,784.13
20202-818,756.11
20203-854,115.03
20204-904,399.90
20205-963,260.70
20206-996,747.83
20207-1,055,491.22
20208-1,048,873.26
20209-1,066,976.82
202010-1,109,166.33
202011-1,156,417.71
202012-1,188,743.05
20211-1,218,360.92
20212-1,228,368.02
20213-1,302,334.04
20214-1,312,234.79
20215-1,335,991.79
20216-1,376,982.71
20217-1,407,072.01
20218-1,405,883.05
20219-1,412,240.11
202110-1,479,247.29
202111-1,483,173.27
202112-1,452,739.25
20221-1,410,572.48
20222-1,397,981.94
20223-1,399,635.78
20224-1,289,446.23
20225-1,245,999.82
20226-1,251,789.80
20227-1,332,497.62
20228-1,235,526.38
20229-1,197,334.10
202210-1,211,633.48
Click to show 1074 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 1932 to 2022
Start Value
Average monthly close
$8.30
End Value
Average monthly close
$3,770.55
Change in price+45,328.31%
+7.04% / yr
Change incl. dividends+1,196,984.82%
+10.89% / yr
Change incl. dividends, inflation-adjusted+54,931.55%
+7.19% / yr
Final amount, nominal
($100 base)
$1,197,084.82
Final amount, inflation-adjusted
($100 base)
$55,031.55