S&P 500: $100 in 1935 → $881,459.55 in 2022

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Stock market returns between 1935 and 2022

If you invested $100 in the S&P 500 at the beginning of 1935, you would have about $881,459.55 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 881,359.55%, or 10.90% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 41,163.47% cumulatively, or 7.10% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $633,650.49.

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 $881,359.55, or 881,359.55%. This means by 2022 you would have $881,459.55 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 1935 was 13.700 and the CPI in 2022 was 292.656.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 87 years.

Adjusted for inflation, the $881,459.55 nominal end value of the original $100 investment would have a real return of roughly $41,163.47 in 1935 dollars. This means the inflation-adjusted return is 41,163.47% as opposed to the original 881,359.55%.

For more information on inflation, see our U.S. inflation calculator for 1935.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1054-month period between 1935 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
19351-2.62%97.3813.60
19352-5.93%91.6113.70
193537.94%98.8813.70
193548.27%107.0513.80
193554.17%111.5213.80
193565.60%117.7613.70
193577.10%126.1313.70
193582.43%129.2013.70
193592.99%133.0613.70
1935109.71%145.9813.70
1935110.29%146.4113.80
1935125.82%154.9313.80
193616.03%164.2813.80
193622.41%168.2413.80
193630.41%168.9313.70
19364-5.02%160.4513.70
193654.57%167.7913.70
193666.23%178.2513.80
193672.30%182.3513.90
193681.44%184.9814.00
193695.55%195.2514.00
1936103.10%201.3114.00
193611-1.40%198.4914.00
1936123.46%205.3514.00
193713.30%212.1314.10
193720.23%212.6214.10
19373-5.62%200.6614.20
19374-4.09%192.4614.30
19375-3.34%186.0414.40
193766.39%197.9314.40
193771.44%200.7814.50
19378-13.76%173.1414.50
19379-14.10%148.7314.60
193710-8.27%136.4414.60
193711-1.02%135.0514.50
1937123.24%139.4214.40
19381-1.80%136.9114.20
19382-6.02%128.6714.10
19383-3.44%124.2414.10
193841.56%126.1714.20
193852.93%129.8714.10
1938620.49%156.4814.10
193871.06%158.1314.10
19388-4.08%151.6714.10
1938911.62%169.2914.10
1938100.47%170.0814.00
193811-2.55%165.7514.00
193812-1.16%163.8214.00
19391-0.46%163.0714.00
193920.27%163.5013.90
19393-12.24%143.4913.90
193944.10%149.3713.80
193952.17%152.6113.80
193962.84%156.9413.80
19397-1.07%155.2613.80
1939811.06%172.4313.80
193991.38%174.8114.10
193910-1.41%172.3514.00
193911-1.97%168.9514.00
193912-0.15%168.7014.00
19401-0.23%168.3213.90
19402-0.15%168.0714.00
194031.42%170.4614.00
19404-13.34%147.7214.00
19405-8.09%135.7614.00
194063.87%141.0114.10
194072.65%144.7514.00
194084.76%151.6414.00
194091.47%153.8614.00
1940102.85%158.2514.00
194011-3.59%152.5614.00
1940120.72%153.6614.10
19411-5.72%144.8714.10
194121.18%146.5714.10
19413-2.55%142.8414.20
19414-1.59%140.5714.30
194154.11%146.3414.40
194165.71%154.7014.70
194170.08%154.8214.70
194180.86%156.1614.90
19419-3.43%150.7915.10
194110-4.08%144.6415.30
194111-5.88%136.1315.40
1941122.62%139.6915.50
19421-2.48%136.2315.70
19422-4.76%129.7415.80
19423-3.45%125.2616.00
194241.87%127.6016.10
194255.75%134.9416.30
194264.38%140.8516.30
194270.05%140.9116.40
194281.66%143.2616.50
194297.97%154.6716.50
1942102.15%158.0016.70
1942111.06%159.6716.80
1942126.50%170.0616.90
194316.43%181.0016.90
194324.01%188.2616.90
194333.79%195.3917.20
194344.36%203.9217.40
194352.18%208.3617.50
194362.47%213.5217.50
19437-4.54%203.8217.40
194382.55%209.0317.30
19439-0.50%207.9817.40
194310-4.21%199.2317.40
1943111.77%202.7617.40
1943123.67%210.1917.40
19441-0.24%209.6817.40
194423.24%216.4717.40
19443-1.31%213.6417.40
194442.20%218.3517.50
194455.14%229.5817.50
194463.02%236.5117.60
19447-1.06%234.0117.70
19448-1.23%231.1417.70
194492.88%237.8117.70
194410-0.28%237.1317.70
1944112.60%243.3017.70
1944123.38%251.5317.80
194513.73%260.9217.80
194520.31%261.7517.80
194532.90%269.3417.80
194544.16%280.5517.80
194552.19%286.6817.90
19456-1.70%281.8218.10
194570.71%283.8118.10
194587.18%304.1918.10
194594.51%317.9218.10
1945103.61%329.3918.10
1945112.02%336.0518.10
1945124.30%350.5018.20
194610.59%352.5518.20
19462-2.68%343.1118.10
194636.77%366.3418.30
194640.52%368.2418.40
19465-0.34%366.9918.50
19466-2.55%357.6418.70
19467-1.62%351.8419.80
19468-14.42%301.0920.20
19469-1.87%295.4620.40
194610-0.01%295.4220.80
1946113.39%305.4421.30
1946120.92%308.2521.50
194714.27%321.4121.50
19472-3.67%309.6121.50
19473-3.30%299.4021.90
19474-1.36%295.3221.90
194753.92%306.9021.90
194766.69%327.4422.00
19477-1.56%322.3422.20
19478-2.17%315.3522.50
194793.03%324.9023.00
194710-0.73%322.5323.00
194711-1.12%318.9123.10
194712-0.86%316.1523.40
19481-4.45%302.0823.70
194821.92%307.8823.50
194838.19%333.0923.40
194845.33%350.8423.80
194854.59%366.9423.90
19486-1.96%359.7524.10
19487-2.49%350.8024.40
19488-0.68%348.4224.50
194893.19%359.5324.50
194810-5.10%341.1924.40
194811-0.16%340.6524.20
1948121.63%346.2124.10
19491-3.33%334.6924.00
194921.49%339.6823.80
194930.41%341.0823.80
19494-0.18%340.4623.90
19495-4.91%323.7323.80
194966.26%344.0123.90
194974.17%358.3623.70
194981.87%365.0623.80
194993.14%376.5323.90
1949101.95%383.8623.70
1949113.24%396.3123.80
1949122.63%406.7323.60
195012.52%416.9923.50
195021.38%422.7223.50
195033.39%437.0423.60
195043.91%454.1523.60
195052.16%463.9823.70
19506-6.72%432.7823.80
195076.64%461.5124.10
195084.11%480.4724.30
195094.72%503.1524.40
1950100.38%505.0524.60
1950110.19%506.0324.70
1950128.01%546.5725.00
195114.31%570.1325.40
19512-1.11%563.7825.70
195131.93%574.6425.80
195140.63%578.2625.80
19515-1.15%571.6325.90
195162.37%585.1625.90
195174.97%614.2225.90
195183.14%633.4825.90
195190.03%633.6626.10
195110-2.25%619.3826.20
1951113.61%641.7626.40
1951123.83%666.3626.50
19521-1.33%657.4926.50
195220.75%662.4226.30
195230.20%663.7626.30
195240.46%666.8126.40
195253.24%688.4526.40
195263.37%711.6326.50
195270.88%717.8926.70
19528-1.11%709.9426.70
19529-1.61%698.5026.70
1952103.67%724.1226.70
1952114.51%756.7726.70
1952120.99%764.2526.70
19531-0.77%758.3426.60
195320.96%765.6026.50
19533-4.47%731.3526.60
195341.00%738.6926.60
19535-3.11%715.7326.70
195361.91%729.4326.80
195370.90%735.9826.80
19538-4.11%705.7626.90
195393.52%730.5826.90
1953102.71%750.3627.00
1953111.84%764.1526.90
1953123.02%787.2526.90
195412.68%808.3226.90
195422.58%829.2026.90
195434.45%866.1026.90
195444.42%904.4026.80
195451.22%915.4626.90
195464.46%956.2726.90
195472.39%979.1726.90
195482.74%1,005.9926.90
195492.71%1,033.2626.80
1954104.30%1,077.7126.80
1954114.95%1,131.1026.80
1954122.17%1,155.6226.70
195513.70%1,198.4426.70
19552-0.44%1,193.2126.70
195533.81%1,238.6526.70
19554-0.08%1,237.6726.70
195556.15%1,313.7326.70
195567.64%1,414.1526.70
19557-0.30%1,409.9226.80
195584.82%1,477.8326.80
19559-4.72%1,408.0026.90
1955107.07%1,507.4926.90
1955111.24%1,526.1426.90
195512-2.39%1,489.7026.80
195610.95%1,503.8526.80
195627.21%1,612.2126.80
195631.48%1,636.1226.80
19564-2.84%1,589.6826.90
19565-0.26%1,585.5127.00
195665.75%1,676.6627.20
19567-0.28%1,671.8927.40
19568-3.09%1,620.2527.30
19569-0.95%1,604.8027.40
195610-0.71%1,593.3627.50
1956111.81%1,622.1927.50
195612-1.86%1,591.9727.60
19571-4.00%1,528.3627.60
195721.62%1,553.1327.70
195732.64%1,594.1927.80
195744.16%1,660.5127.90
195751.95%1,692.9628.00
195762.32%1,732.2828.10
19577-5.21%1,642.1128.30
19578-3.74%1,580.7028.30
19579-5.90%1,487.4928.30
195710-1.80%1,460.7128.30
1957110.32%1,465.3628.40
1957122.33%1,499.4828.40
195810.70%1,510.0128.60
195822.42%1,546.5328.60
195830.90%1,560.4028.80
195843.56%1,615.9128.90
195852.74%1,660.1128.90
195863.07%1,711.0928.90
195874.05%1,780.4629.00
195882.94%1,832.8828.90
195894.36%1,912.7728.90
1958103.33%1,976.3928.90
1958112.16%2,019.1329.00
1958124.25%2,105.0428.90
19591-1.27%2,078.4129.00
195922.81%2,136.7328.90
195931.94%2,178.1128.90
195941.77%2,216.5629.00
19595-0.61%2,203.1329.00
195964.23%2,296.2629.10
19597-0.32%2,288.9529.20
19598-3.70%2,204.1929.20
195990.18%2,208.0829.30
1959100.67%2,222.8629.40
1959113.46%2,299.8429.40
195912-1.49%2,265.6729.40
19601-3.61%2,183.8929.30
19602-1.08%2,160.3529.40
196031.58%2,194.5729.40
19604-0.62%2,180.8729.50
196053.99%2,267.8429.50
19606-2.20%2,218.0429.60
196071.49%2,251.1029.60
19608-2.72%2,189.8629.60
19609-1.67%2,153.2029.60
1960103.54%2,229.4429.80
1960112.69%2,289.4329.80
1960125.43%2,413.6729.80
196114.37%2,519.2529.80
196123.40%2,604.8329.80
196132.92%2,680.8729.80
196141.26%2,714.7429.80
19615-1.08%2,685.4129.80
19616-0.03%2,684.6629.80
196173.84%2,787.7230.00
19618-0.54%2,772.6229.90
196191.34%2,809.8630.00
1961104.77%2,943.9530.00
1961111.16%2,978.1930.00
196112-3.49%2,874.3330.00
196211.91%2,929.2230.00
196220.34%2,939.2130.10
19623-2.94%2,852.6530.10
19624-7.19%2,647.6830.20
19625-11.41%2,345.5130.20
196262.72%2,409.2530.20
196273.02%2,482.0830.30
19628-0.59%2,467.3530.30
19629-2.86%2,396.8830.40
1962107.20%2,569.4730.40
1962114.62%2,688.2830.40
1962124.15%2,799.7530.40
196311.60%2,844.4230.40
19632-0.11%2,841.3430.40
196334.98%2,982.7930.50
196342.27%3,050.4930.50
196350.22%3,057.1030.50
19636-1.22%3,019.7430.60
196373.03%3,111.2730.70
196382.89%3,201.3030.70
196390.50%3,217.3130.70
196310-0.31%3,207.4430.80
1963112.39%3,284.2130.80
1963123.33%3,393.5830.90
196411.48%3,443.8030.90
196422.07%3,515.1230.90
196431.69%3,574.6430.90
196441.22%3,618.2630.90
19645-0.35%3,605.5730.90
196463.96%3,748.3931.00
19647-1.23%3,702.4531.10
196481.97%3,775.2231.00
196491.97%3,849.6031.10
1964100.94%3,885.6631.10
196411-1.49%3,827.7631.20
1964122.82%3,935.7331.20
196510.98%3,974.1031.20
196520.34%3,987.4431.20
196531.56%4,049.5531.30
196541.73%4,119.7131.40
19655-4.51%3,934.0231.40
196560.10%3,938.0731.60
196572.12%4,021.5031.60
196583.60%4,166.1231.60
196592.50%4,270.1431.60
1965101.08%4,316.0931.70
196511-0.21%4,306.9531.70
1965121.98%4,392.2531.80
19661-0.43%4,373.3431.80
19662-3.86%4,204.4332.00
196633.32%4,344.0632.10
19664-5.01%4,126.5332.30
19665-0.56%4,103.4432.30
196660.02%4,104.1932.40
19667-5.77%3,867.4032.50
19668-3.22%3,742.6932.70
19669-0.56%3,721.5632.70
1966105.32%3,919.4032.90
1966110.72%3,947.4632.90
1966124.13%4,110.5032.90
196713.73%4,263.8232.90
196722.63%4,376.1232.90
196731.99%4,463.3133.00
196742.06%4,555.1533.10
19675-0.99%4,509.9733.20
196761.99%4,599.8333.30
196771.85%4,685.0033.40
196781.65%4,762.4933.50
196790.10%4,767.1333.60
196710-2.88%4,629.7533.70
1967113.11%4,773.8233.80
196712-0.02%4,772.9833.90
19681-4.26%4,569.8034.10
19682-1.56%4,498.5434.20
196837.66%4,843.2134.30
196842.56%4,967.0934.40
196852.94%5,113.1534.50
196860.05%5,115.6534.70
19687-1.93%5,016.7234.90
196883.51%5,192.6935.00
196892.72%5,333.7935.10
1968101.79%5,429.0335.30
1968111.29%5,498.8135.40
196812-3.99%5,279.6835.50
19691-0.24%5,267.0835.60
19692-1.91%5,166.2835.80
196932.27%5,283.7836.10
196943.51%5,469.4236.30
19695-4.97%5,197.5236.40
19696-4.21%4,978.9536.60
19697-0.28%4,964.8336.80
196980.63%4,996.0337.00
196991.35%5,063.3037.10
1969101.00%5,113.8037.30
196911-5.03%4,856.7137.50
196912-0.59%4,828.1037.70
19701-3.20%4,673.7937.80
197022.01%4,767.8438.00
19703-2.75%4,636.8338.20
19704-11.20%4,117.5538.50
19705-0.27%4,106.4438.60
197060.52%4,127.9038.80
197073.26%4,262.2939.00
197086.32%4,531.7339.00
197092.49%4,644.5439.20
1970100.21%4,654.1539.40
1970117.16%4,987.3139.60
1970124.11%5,192.3239.80
197114.15%5,407.8639.80
197122.83%5,561.0039.90
197133.67%5,765.3040.00
19714-1.11%5,701.4340.10
19715-1.60%5,610.4440.30
19716-0.46%5,584.4740.60
19717-1.52%5,499.7540.70
197182.49%5,636.4940.80
19719-1.86%5,531.4440.80
197110-4.37%5,289.6440.90
1971117.16%5,668.5640.90
1971124.42%5,919.2641.10
197212.09%6,042.7941.10
197222.62%6,201.0941.30
197231.26%6,279.1641.40
19724-0.78%6,230.4441.50
197250.52%6,262.5941.60
19726-0.50%6,231.0441.70
197273.78%6,466.8041.90
19728-1.21%6,388.5242.00
197290.42%6,415.1942.10
1972105.25%6,752.2642.30
1972112.31%6,908.3442.40
1972120.99%6,976.6842.50
19731-3.33%6,744.7042.60
19732-1.35%6,653.9642.90
19733-1.63%6,545.2843.30
19734-2.57%6,377.0843.60
19735-1.99%6,250.1943.90
197361.21%6,325.8444.20
19737-1.64%6,222.3844.30
197382.00%6,346.5445.10
197394.24%6,615.3345.20
197310-6.85%6,161.9945.60
197311-6.81%5,742.6545.90
1973121.70%5,840.3046.20
19741-2.47%5,695.8846.60
197424.57%5,956.4447.20
19743-4.82%5,669.5447.80
19744-2.71%5,516.1448.00
197450.46%5,541.3748.60
19746-11.35%4,912.6049.00
19747-3.76%4,727.6549.40
19748-10.01%4,254.2450.00
197492.38%4,355.3650.60
1974103.74%4,518.4051.10
197411-6.09%4,243.1551.50
1974128.63%4,609.4551.90
1975110.81%5,107.6252.10
197524.97%5,361.6552.50
197531.49%5,441.3852.70
197546.71%5,806.6452.90
197552.89%5,974.7253.20
197560.43%6,000.5353.60
19757-7.00%5,580.7254.20
19758-0.85%5,533.1354.30
197594.97%5,808.2054.60
1975102.04%5,926.7954.90
197511-1.18%5,856.8755.30
1975129.55%6,415.9355.50
197614.18%6,683.9955.60
197620.80%6,737.6355.80
197631.10%6,811.4355.90
19764-0.38%6,785.3356.10
197650.90%6,846.4356.50
197662.67%7,028.9256.80
19767-0.56%6,989.5157.10
197682.44%7,159.9157.40
19769-3.11%6,937.3657.60
197610-0.37%6,911.9357.90
1976113.79%7,173.6558.00
197612-0.54%7,135.1158.20
19771-2.37%6,966.1058.50
19772-0.05%6,962.3359.10
19773-1.19%6,879.2259.50
197740.06%6,883.6660.00
197750.90%6,945.6060.30
197761.28%7,034.6760.70
19777-2.08%6,888.4561.00
19778-1.18%6,807.4861.20
19779-2.20%6,657.8661.40
1977100.98%6,723.1961.60
197711-0.08%6,717.8061.90
197712-3.39%6,490.0462.10
19781-0.97%6,426.9662.50
197820.27%6,444.0362.90
197834.83%6,755.2863.40
197845.50%7,127.1163.90
197850.67%7,175.1264.50
19786-0.06%7,170.6565.20
197877.33%7,696.1265.70
197880.40%7,726.8866.00
19789-2.77%7,512.5866.50
197810-5.44%7,104.0767.10
1978111.92%7,240.6767.40
1978124.19%7,543.7167.70
19791-1.06%7,463.9868.30
197922.34%7,638.7269.10
197932.43%7,824.4169.80
19794-1.89%7,676.3070.60
197952.42%7,861.8871.50
197961.42%7,973.5972.30
197975.01%8,373.4173.10
197981.54%8,502.4073.80
19799-3.35%8,217.3574.60
197910-0.32%8,190.8675.20
1979114.40%8,551.5875.90
1979123.31%8,834.8576.70
198014.40%9,223.2277.80
19802-8.78%8,413.6278.90
19803-1.16%8,315.8580.10
198045.04%8,734.6581.00
198056.86%9,334.0881.80
198064.97%9,797.9382.70
198073.50%10,141.3282.70
198082.84%10,428.9183.30
198093.32%10,775.6484.00
1980104.61%11,272.9184.80
198011-1.24%11,132.5885.50
1980120.01%11,133.7086.30
19811-3.07%10,791.8787.00
198124.14%11,239.0187.90
198131.29%11,384.4288.50
19814-1.62%11,200.3089.10
198150.86%11,296.3689.80
19816-2.02%11,068.5990.60
198170.80%11,157.4391.60
19818-8.30%10,231.0692.30
198191.73%10,407.7893.20
1981103.04%10,724.5693.40
1981111.18%10,851.0493.70
198112-4.80%10,329.7594.00
19821-1.91%10,132.0594.30
19822-2.74%9,853.9794.60
198235.47%10,392.9194.50
198240.57%10,452.1194.90
19825-5.27%9,901.2295.80
198260.24%9,925.3797.00
198270.79%10,004.1797.50
1982812.10%11,214.3197.70
198298.88%12,210.3097.90
1982104.50%12,759.7698.20
1982111.36%12,932.7198.00
1982123.93%13,440.4297.60
198312.13%13,726.7097.80
198323.87%14,257.3397.90
198334.20%14,855.7697.90
198344.42%15,512.9898.60
198351.75%15,785.0099.20
198360.71%15,896.7899.50
19837-2.41%15,514.1299.90
198383.31%16,028.23100.20
198390.65%16,132.08100.70
198310-1.14%15,947.94101.00
198311-0.13%15,927.51101.20
1983121.58%16,178.52101.30
19841-5.11%15,351.44101.90
198420.44%15,419.35102.40
198430.51%15,497.56102.60
19844-0.25%15,458.41103.10
19845-1.85%15,172.70103.40
19846-0.91%15,034.86103.70
198479.21%16,419.05104.10
198481.41%16,650.06104.50
19849-0.41%16,581.40105.00
1984101.29%16,794.62105.30
198411-0.71%16,675.79105.30
1984124.70%17,459.14105.30
198515.79%18,469.57105.50
19852-0.48%18,381.23106.00
198531.02%18,569.58106.40
198542.74%19,077.58106.90
198552.51%19,556.61107.30
198562.25%19,996.09107.60
19857-1.85%19,627.10107.80
19858-1.88%19,257.13108.00
198591.50%19,545.13108.30
1985106.42%20,800.03108.70
1985115.29%21,901.29109.00
1985120.75%22,065.93109.30
198615.70%23,323.08109.60
198626.18%24,765.09109.30
198632.74%25,444.01108.80
198640.49%25,569.15108.60
198653.13%26,370.29108.90
19866-1.80%25,894.59109.50
198672.28%26,485.21109.50
19868-2.46%25,834.67109.70
19869-0.09%25,811.45110.20
1986103.53%26,723.36110.30
1986111.71%27,180.05110.40
1986126.67%28,993.87110.50
198716.46%30,867.42111.20
198724.38%32,218.30111.60
19873-0.86%31,942.38112.10
198740.17%31,997.59112.70
198754.50%33,436.98113.10
198763.12%34,480.92113.50
198776.45%36,706.32113.80
19878-3.03%35,593.96114.40
19879-11.85%31,374.70115.00
198710-12.30%27,514.54115.30
198711-1.33%27,147.30115.40
1987124.25%28,300.12115.40
198813.33%29,242.11115.70
198823.23%30,187.23116.00
19883-0.89%29,919.77116.50
19884-2.19%29,265.04117.10
198856.00%31,020.42117.50
19886-0.31%30,925.21118.00
19887-1.72%30,393.77118.50
198881.93%30,979.50119.00
198893.80%32,157.23119.80
198810-2.02%31,507.57120.20
1988112.33%32,240.42120.30
1988123.51%33,372.92120.50
198913.30%34,474.18121.10
19892-0.16%34,418.44121.60
198933.56%35,645.39122.30
198944.12%37,112.31123.10
198953.39%38,371.39123.80
198962.80%39,445.86124.10
198974.69%41,296.16124.40
198980.46%41,484.28124.60
198990.29%41,603.03125.00
198910-1.81%40,848.54125.60
1989112.74%41,966.45125.90
198912-2.21%41,038.47126.10
19901-2.53%40,001.36127.40
199022.71%41,084.26128.00
199030.20%41,164.78128.70
199043.85%42,750.00128.90
199053.17%44,105.16129.20
199060.17%44,180.02129.90
19907-7.86%40,706.93130.40
19908-4.34%38,939.81131.60
19909-2.32%38,038.06132.70
1990102.98%39,173.04133.50
1990114.59%40,969.75133.80
199012-0.69%40,689.04133.80
1991111.61%45,411.73134.60
199123.04%46,794.34134.80
199132.26%47,851.35135.00
19914-0.18%47,765.75135.20
199150.35%47,931.50135.60
199160.78%48,305.60136.00
199172.68%49,599.68136.20
19918-0.30%49,449.34136.60
199190.18%49,539.16137.20
1991100.02%49,546.99137.40
1991110.94%50,010.32137.80
1991127.36%53,690.09137.90
19921-0.60%53,367.50138.10
19922-1.01%52,827.22138.60
199230.26%52,966.84139.30
199242.07%54,062.38139.50
19925-1.33%53,343.83139.70
199261.91%54,363.83140.20
199270.94%54,875.79140.50
199280.38%55,083.32140.90
19929-1.18%54,432.20141.30
1992102.76%55,932.85141.80
1992113.27%57,762.52142.00
1992120.14%57,845.06141.90
199311.72%58,842.45142.60
199322.15%60,107.66143.10
19933-1.34%59,301.16143.60
199340.72%59,730.93144.00
199350.87%60,247.71144.20
199360.06%60,284.47144.40
199371.76%61,346.96144.40
199381.35%62,178.20144.80
199391.24%62,950.39145.10
1993100.01%62,955.14145.70
1993110.89%63,513.67145.80
1993121.74%64,616.19145.80
19941-0.08%64,567.27146.20
19942-1.42%63,647.95146.70
19943-3.35%61,518.05147.20
199441.06%62,169.06147.40
199451.11%62,857.95147.50
19946-0.52%62,531.80148.00
199473.08%64,459.08148.40
199480.82%64,986.01149.00
19949-0.44%64,697.46149.40
199410-0.37%64,458.16149.50
199411-1.03%63,797.01149.70
1994122.45%65,360.78149.70
199513.82%67,856.97150.30
199522.56%69,592.87150.90
199533.22%71,830.66151.40
199543.35%74,235.38151.90
199553.18%76,594.90152.20
199563.55%79,312.09152.50
199570.51%79,719.05152.50
199583.72%82,682.74152.90
199590.91%83,437.28153.20
1995102.36%85,405.05153.70
1995113.39%88,299.54153.60
1995120.16%88,443.10153.50
199615.90%93,665.13154.40
19962-0.20%93,477.15154.90
199630.20%93,661.34155.70
199642.35%95,866.90156.30
199651.28%97,092.65156.60
19966-3.48%93,717.16156.70
199673.08%96,599.67157.00
199682.02%98,554.58157.30
199694.12%102,614.53157.80
1996105.05%107,798.70158.30
1996111.20%109,090.38158.60
1996123.26%112,644.04158.60
199714.36%117,556.63159.10
19972-0.62%116,823.45159.60
19973-3.41%112,845.32160.00
199749.22%123,247.21160.20
199755.34%129,824.70160.10
199765.74%137,271.35160.30
199770.35%137,748.76160.50
199781.19%139,390.74160.80
199791.65%141,684.24161.20
199710-1.15%140,051.97161.60
1997112.63%143,741.81161.50
1997120.24%144,082.60161.30
199816.40%153,307.00161.60
199825.31%161,452.00161.90
199833.41%166,950.54162.20
19984-0.22%166,580.14162.50
199850.12%166,774.14162.80
199864.47%174,225.05163.00
19987-6.97%162,079.81163.20
19988-4.90%154,140.41163.40
199891.29%156,130.14163.60
19981010.97%173,264.46164.00
1998114.10%180,375.42164.00
1998125.05%189,480.21163.90
19991-0.07%189,353.80164.30
199922.92%194,889.58164.50
199934.25%203,172.43165.00
19994-0.10%202,971.63166.20
19995-0.61%201,729.92166.20
199964.52%210,852.93166.20
19997-3.77%202,894.52166.70
19998-0.60%201,681.18167.10
19999-1.27%199,114.85167.90
1999107.11%213,263.85168.20
1999112.81%219,253.85168.30
199912-0.12%218,993.09168.30
20001-2.48%213,566.27168.80
200023.94%221,982.82169.80
200031.42%225,145.33171.20
20004-2.84%218,753.92171.30
200053.16%225,674.16171.50
200060.85%227,593.16172.40
200070.94%229,731.88172.80
20008-1.08%227,251.57172.80
20009-5.21%215,402.16173.70
200010-0.77%213,738.04174.00
200011-3.32%206,641.78174.10
2000120.46%207,582.01174.00
20011-2.14%203,147.52175.10
20012-9.08%184,701.93175.80
200130.45%185,530.67176.20
200146.88%198,293.94176.90
20015-2.39%193,557.39177.70
20016-2.66%188,408.33178.00
20017-2.05%184,553.79177.50
20018-11.25%163,796.43177.50
200193.18%169,011.76178.30
2001105.05%177,552.17177.70
2001111.47%180,155.17177.40
200112-0.30%179,618.87176.70
20021-3.35%173,596.66177.10
200224.95%182,181.49177.80
20023-3.51%175,778.84178.80
20024-2.82%170,821.23179.80
20025-5.92%160,706.97179.80
20026-10.76%143,417.32179.90
200271.14%145,050.54180.10
20028-4.76%138,149.43180.70
20029-1.37%136,260.86181.00
2002106.63%145,288.93181.30
200211-1.04%143,785.10181.30
200212-0.22%143,465.16180.90
20031-6.41%134,262.10181.70
200321.31%136,018.11183.10
200335.29%143,207.84184.20
200345.31%150,815.34183.80
200355.70%159,418.13183.50
200360.60%160,368.10183.70
20037-0.17%160,101.37183.90
200383.16%165,162.46184.60
200392.03%168,511.68185.20
2003101.21%170,551.66185.00
2003113.06%175,777.04184.50
2003124.93%184,451.56184.30
200411.09%186,455.93185.20
20042-1.57%183,537.53186.20
200430.97%185,314.42187.40
20044-2.56%180,562.49188.00
200452.86%185,722.38189.10
20046-2.24%181,564.47189.70
20047-1.39%179,045.13189.40
200482.78%184,027.29189.50
200490.10%184,216.09189.90
2004104.77%193,010.38190.90
2004112.73%198,274.63191.00
200412-1.35%195,599.47190.30
200511.68%198,887.90190.70
20052-0.26%198,379.57191.80
20053-2.41%193,600.76193.30
200541.34%196,187.02194.60
200552.18%200,465.26194.40
200561.81%204,089.26194.50
200570.31%204,721.97195.40
200580.28%205,294.56196.40
20059-2.62%199,907.18198.80
2005103.96%207,826.59199.20
2005112.14%212,282.66197.60
2005121.47%215,396.36196.80
20061-0.02%215,360.52198.30
200621.49%218,561.07198.70
200630.80%220,305.91199.80
20064-0.79%218,572.91201.50
20065-2.71%212,658.78202.50
200660.72%214,190.01202.90
200672.29%219,098.73203.50
200682.53%224,644.50203.90
200693.62%232,767.45202.90
2006102.00%237,426.62201.80
2006112.15%242,527.17201.50
2006120.69%244,207.47201.80
200711.60%248,105.13202.42
20072-2.47%241,967.28203.50
200734.18%252,082.14205.35
200743.39%260,632.15206.69
200750.34%261,531.07207.95
200760.57%263,033.88208.35
20077-4.20%251,983.54208.30
200783.07%259,731.39207.92
200792.99%267,501.60208.49
200710-4.81%254,644.65208.94
2007111.24%257,797.71210.18
200712-6.64%240,692.32210.04
20081-1.56%236,927.98211.08
20082-2.63%230,704.74211.69
200834.24%240,495.40213.53
200842.56%246,658.34214.82
20085-4.25%236,183.79216.63
20086-6.08%221,827.43218.82
200872.11%226,509.17219.96
20088-4.85%215,529.06219.09
20089-20.19%172,006.01218.78
200810-8.61%157,204.30216.57
200811-0.35%156,652.17212.43
200812-1.10%154,935.96210.23
20091-6.70%144,551.36211.14
20092-5.69%136,330.10212.19
2009312.32%153,128.35212.71
200946.66%163,326.43213.24
200952.87%168,012.03213.86
200961.28%170,158.63215.69
200978.12%183,976.78215.35
200983.65%190,692.56215.83
200992.40%195,275.11215.97
2009102.09%199,364.80216.18
2009112.23%203,802.38216.33
2009121.36%206,567.91215.95
20101-2.90%200,580.60216.69
201025.94%212,501.17216.74
201034.09%221,188.07217.63
20104-5.88%208,176.91218.01
20105-3.54%200,800.03218.18
20106-0.16%200,480.61217.97
201070.86%202,211.99218.01
201083.37%209,028.87218.31
201094.58%218,597.03218.44
2010102.49%224,042.09218.71
2010113.71%232,362.43218.80
2010123.46%240,407.26219.18
201113.15%247,982.17220.22
20112-1.11%245,223.46221.31
201132.22%250,669.83223.47
201140.66%252,322.34224.91
20115-3.66%243,080.78225.96
201163.10%250,620.50225.72
20117-10.40%224,554.35225.92
20118-0.79%222,782.06226.55
201193.02%229,507.65226.89
2011101.77%233,563.33226.42
2011111.55%237,194.66226.23
2011124.78%248,538.63225.67
201214.16%258,884.32226.67
201222.88%266,350.12227.66
20123-0.04%266,248.35229.39
20124-3.09%258,018.74230.09
20125-1.15%255,045.30229.82
201262.92%262,495.40229.48
201273.39%271,387.95229.10
201283.02%279,587.04230.38
20129-0.22%278,979.95231.41
201210-2.84%271,063.92231.32
2012112.18%276,961.01230.22
2012124.27%288,783.81229.60
201312.33%295,521.20230.28
201322.72%303,566.63232.17
201331.45%307,979.85232.77
201344.57%322,067.68232.53
20135-1.12%318,467.69232.95
201363.25%328,832.15233.50
201370.25%329,662.54233.60
201381.19%333,593.66233.88
201392.12%340,657.67234.15
2013103.86%353,807.04233.55
2013111.52%359,190.79233.07
2013120.97%362,667.06233.05
20141-0.13%362,195.46233.92
201422.72%372,055.40234.78
201430.20%372,805.93236.29
201441.53%378,517.44237.07
201453.20%390,616.06237.90
201461.50%396,458.98238.34
20147-0.43%394,766.30238.25
201481.78%401,785.38237.85
20149-2.65%391,151.79238.03
2014105.71%413,469.55237.43
2014110.63%416,090.48236.15
201412-1.11%411,471.69234.81
201512.83%423,105.63233.71
201520.06%423,339.88234.72
201530.88%427,058.54236.12
201540.98%431,239.03236.60
20155-0.44%429,360.98237.81
20156-0.08%429,019.08238.64
20157-2.42%418,617.96238.65
20158-4.51%399,750.44238.32
201594.32%417,008.15237.95
2015102.93%429,236.79237.84
201511-1.10%424,502.43237.34
201512-6.42%397,250.98236.53
20161-0.55%395,066.46236.92
201626.36%420,203.47237.11
201632.83%432,100.52238.13
20164-0.30%430,785.36239.26
201651.07%435,379.64240.23
201663.30%449,736.02241.02
201671.20%455,129.51240.63
20168-0.44%453,132.99240.85
20169-0.51%450,840.22241.43
2016101.20%456,255.54241.73
2016113.95%474,259.21241.35
2016121.44%481,077.33241.43
201712.58%493,472.02242.84
201721.75%502,104.12243.60
20173-0.15%501,330.86243.80
201741.69%509,815.25244.52
201751.78%518,871.75244.73
201760.99%523,997.60244.96
201770.25%525,296.09244.79
201781.65%533,980.62245.52
201792.73%548,583.91246.82
2017101.59%557,304.03246.66
2017112.88%573,373.82246.67
2017124.86%601,250.67246.52
20181-2.89%583,894.45247.87
201820.06%584,271.52248.99
20183-1.66%574,549.40249.55
201841.96%585,819.89250.55
201852.11%598,198.08251.59
201861.58%607,654.05251.99
201872.45%622,546.47252.01
201881.68%633,003.68252.15
20189-3.85%608,639.45252.44
201810-2.08%596,003.44252.89
201811-5.56%562,850.68252.04
2018121.74%572,619.72251.23
201915.83%605,997.16251.71
201921.95%617,802.12252.78
201933.72%640,804.25254.20
20194-1.53%630,988.48255.55
201951.40%639,852.29256.09
201963.83%664,341.64256.14
20197-3.13%643,518.42256.57
201983.09%663,372.43256.56
201990.01%663,437.45256.76
2019104.43%692,852.23257.35
2019112.47%709,960.97257.21
2019123.35%733,719.08256.97
202010.12%734,614.78257.97
20202-18.92%595,642.50258.68
202034.32%621,366.00258.12
202045.89%657,948.09256.39
202056.51%700,769.14256.39
202063.48%725,130.92257.80
202075.89%767,866.54259.10
20208-0.63%763,052.00259.92
202091.73%776,222.29260.28
2020103.95%806,915.02260.39
2020114.26%841,290.25260.23
2020122.80%864,806.84260.47
202112.49%886,353.75261.58
202120.82%893,633.88263.01
202136.02%947,443.92264.88
202140.76%954,646.69267.05
202151.81%971,929.83269.20
202163.07%1,001,750.59271.70
202172.19%1,023,640.47273.00
20218-0.08%1,022,775.50273.57
202190.45%1,027,400.25274.31
2021104.74%1,076,147.76276.59
2021110.27%1,079,003.90277.95
202112-2.05%1,056,863.24278.80
20221-2.90%1,026,187.05281.15
20222-0.89%1,017,027.47283.72
202230.12%1,018,230.63287.50
20224-7.87%938,068.08289.11
20225-3.37%906,460.96292.30
202260.46%910,673.15296.31
202276.45%969,387.84296.28
20228-7.28%898,841.56296.17
20229-3.09%871,056.80296.81
2022101.19%881,459.55298.01
Click to show 1038 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 1935. This would result in a final amount of $633,650.49, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $881,459.55).

YearMonthContribution ($)Amount ($)
193514.164.03
193524.167.69
193534.1612.77
193544.1618.32
193554.1623.40
193564.1629.09
193574.1635.59
193584.1640.71
193594.1646.19
1935104.1655.23
1935114.1659.55
1935124.1667.41
193614.1675.87
193624.1681.95
193634.1686.46
193644.1686.06
193654.1694.33
193664.16104.62
193674.16111.26
193684.16117.08
193694.16127.95
1936104.16136.20
1936114.16138.38
1936124.32147.62
19371-152.49
19372-152.85
19373-144.25
19374-138.36
19375-133.74
19376-142.29
19377-144.33
19378-124.47
19379-106.92
193710-98.08
193711-97.08
193712-100.23
19381-98.42
19382-92.49
19383-89.31
19384-90.70
19385-93.36
19386-112.49
19387-113.68
19388-109.03
19389-121.70
193810-122.27
193811-119.15
193812-117.76
19391-117.22
19392-117.54
19393-103.15
19394-107.37
19395-109.71
19396-112.82
19397-111.61
19398-123.95
19399-125.67
193910-123.90
193911-121.45
193912-121.27
19401-121.00
19402-120.82
19403-122.54
19404-106.19
19405-97.59
19406-101.37
19407-104.06
19408-109.01
19409-110.60
194010-113.76
194011-109.67
194012-110.46
19411-104.14
19412-105.37
19413-102.68
19414-101.05
19415-105.20
19416-111.21
19417-111.30
19418-112.26
19419-108.40
194110-103.97
194111-97.86
194112-100.42
19421-97.93
19422-93.27
19423-90.04
19424-91.73
19425-97.00
19426-101.25
19427-101.30
19428-102.98
19429-111.19
194210-113.58
194211-114.78
194212-122.25
19431-130.11
19432-135.34
19433-140.46
19434-146.59
19435-149.79
19436-153.49
19437-146.52
19438-150.26
19439-149.51
194310-143.22
194311-145.76
194312-151.10
19441-150.73
19442-155.62
19443-153.58
19444-156.96
19445-165.03
19446-170.02
19447-168.22
19448-166.16
19449-170.95
194410-170.47
194411-174.90
194412-180.82
19451-187.57
19452-188.16
19453-193.62
19454-201.68
19455-206.09
19456-202.59
19457-204.02
19458-218.67
19459-228.54
194510-236.78
194511-241.58
194512-251.96
19461-253.44
19462-246.65
19463-263.35
19464-264.71
19465-263.82
19466-257.10
19467-252.92
19468-216.44
19469-212.39
194610-212.36
194611-219.57
194612-221.59
19471-231.05
19472-222.57
19473-215.23
19474-212.30
19475-220.62
19476-235.39
19477-231.72
19478-226.70
19479-233.56
194710-231.85
194711-229.25
194712-227.27
19481-217.16
19482-221.32
19483-239.45
19484-252.21
19485-263.78
19486-258.62
19487-252.18
19488-250.47
19489-258.46
194810-245.27
194811-244.88
194812-248.87
19491-240.59
19492-244.18
19493-245.19
19494-244.74
19495-232.72
19496-247.30
19497-257.61
19498-262.43
19499-270.67
194910-275.95
194911-284.89
194912-292.38
19501-299.76
19502-303.88
19503-314.17
19504-326.47
19505-333.54
19506-311.11
19507-331.76
19508-345.39
19509-361.70
195010-363.06
195011-363.77
195012-392.91
19511-409.84
19512-405.28
19513-413.09
19514-415.69
19515-410.93
19516-420.65
19517-441.54
19518-455.39
19519-455.51
195110-445.25
195111-461.34
195112-479.02
19521-472.64
19522-476.19
19523-477.15
19524-479.35
19525-494.90
19526-511.57
19527-516.07
19528-510.35
19529-502.13
195210-520.54
195211-544.01
195212-549.39
19531-545.14
19532-550.36
19533-525.74
19534-531.02
19535-514.51
19536-524.36
19537-529.07
19538-507.34
19539-525.19
195310-539.41
195311-549.32
195312-565.93
19541-581.07
19542-596.08
19543-622.61
19544-650.14
19545-658.10
19546-687.43
19547-703.89
19548-723.17
19549-742.78
195410-774.73
195411-813.11
195412-830.74
19551-861.52
19552-857.76
19553-890.42
19554-889.72
19555-944.39
19556-1,016.58
19557-1,013.54
19558-1,062.36
19559-1,012.16
195510-1,083.68
195511-1,097.09
195512-1,070.90
19561-1,081.06
19562-1,158.96
19563-1,176.15
19564-1,142.76
19565-1,139.77
19566-1,205.29
19567-1,201.86
19568-1,164.74
19569-1,153.63
195610-1,145.41
195611-1,166.13
195612-1,144.41
19571-1,098.68
19572-1,116.49
19573-1,146.01
19574-1,193.69
19575-1,217.01
19576-1,245.27
19577-1,180.45
19578-1,136.31
19579-1,069.31
195710-1,050.06
195711-1,053.40
195712-1,077.93
19581-1,085.49
19582-1,111.75
19583-1,121.72
19584-1,161.62
19585-1,193.40
19586-1,230.04
19587-1,279.91
19588-1,317.59
19589-1,375.02
195810-1,420.76
195811-1,451.48
195812-1,513.24
19591-1,494.10
19592-1,536.02
19593-1,565.77
19594-1,593.41
19595-1,583.75
19596-1,650.70
19597-1,645.45
19598-1,584.51
19599-1,587.31
195910-1,597.93
195911-1,653.27
195912-1,628.71
19601-1,569.92
19602-1,553.00
19603-1,577.60
19604-1,567.75
19605-1,630.27
19606-1,594.47
19607-1,618.24
19608-1,574.21
19609-1,547.86
196010-1,602.67
196011-1,645.79
196012-1,735.11
19611-1,811.00
19612-1,872.52
19613-1,927.18
19614-1,951.53
19615-1,930.45
19616-1,929.91
19617-2,004.00
19618-1,993.14
19619-2,019.91
196110-2,116.30
196111-2,140.91
196112-2,066.26
19621-2,105.71
19622-2,112.89
19623-2,050.67
19624-1,903.33
19625-1,686.11
19626-1,731.92
19627-1,784.28
19628-1,773.69
19629-1,723.03
196210-1,847.10
196211-1,932.51
196212-2,012.64
19631-2,044.76
19632-2,042.54
19633-2,144.22
19634-2,192.89
19635-2,197.64
19636-2,170.79
19637-2,236.59
19638-2,301.30
19639-2,312.81
196310-2,305.72
196311-2,360.90
196312-2,439.52
19641-2,475.63
19642-2,526.90
19643-2,569.68
19644-2,601.04
19645-2,591.92
19646-2,694.59
19647-2,661.56
19648-2,713.87
19649-2,767.34
196410-2,793.27
196411-2,751.64
196412-2,829.26
19651-2,856.84
19652-2,866.43
19653-2,911.08
19654-2,961.52
19655-2,828.03
19656-2,830.94
19657-2,890.92
19658-2,994.88
19659-3,069.66
196510-3,102.68
196511-3,096.12
196512-3,157.44
19661-3,143.84
19662-3,022.42
19663-3,122.79
19664-2,966.42
19665-2,949.82
19666-2,950.36
19667-2,780.14
19668-2,690.49
19669-2,675.30
196610-2,817.52
196611-2,837.69
196612-2,954.89
19671-3,065.11
19672-3,145.84
19673-3,208.52
19674-3,274.54
19675-3,242.06
19676-3,306.66
19677-3,367.89
19678-3,423.59
19679-3,426.92
196710-3,328.17
196711-3,431.73
196712-3,431.13
19681-3,285.07
19682-3,233.85
19683-3,481.62
19684-3,570.66
19685-3,675.67
19686-3,677.46
19687-3,606.35
19688-3,732.84
19689-3,834.27
196810-3,902.74
196811-3,952.91
196812-3,795.38
19691-3,786.32
19692-3,713.86
19693-3,798.32
19694-3,931.78
19695-3,736.32
19696-3,579.19
19697-3,569.04
19698-3,591.47
19699-3,639.83
196910-3,676.13
196911-3,491.32
196912-3,470.75
19701-3,359.82
19702-3,427.43
19703-3,333.26
19704-2,959.97
19705-2,951.98
19706-2,967.40
19707-3,064.01
19708-3,257.70
19709-3,338.80
197010-3,345.70
197011-3,585.20
197012-3,732.58
19711-3,887.52
19712-3,997.61
19713-4,144.47
19714-4,098.56
19715-4,033.15
19716-4,014.48
19717-3,953.57
19718-4,051.88
19719-3,976.36
197110-3,802.53
197111-4,074.93
197112-4,255.15
19721-4,343.95
19722-4,457.75
19723-4,513.87
19724-4,478.84
19725-4,501.96
19726-4,479.27
19727-4,648.76
19728-4,592.48
19729-4,611.66
197210-4,853.96
197211-4,966.16
197212-5,015.29
19731-4,848.53
19732-4,783.30
19733-4,705.17
19734-4,584.26
19735-4,493.05
19736-4,547.42
19737-4,473.05
19738-4,562.30
19739-4,755.53
197310-4,429.64
197311-4,128.19
197312-4,198.39
19741-4,094.57
19742-4,281.88
19743-4,075.64
19744-3,965.36
19745-3,983.49
19746-3,531.49
19747-3,398.54
19748-3,058.23
19749-3,130.92
197410-3,248.12
197411-3,050.25
197412-3,313.57
19751-3,671.69
19752-3,854.30
19753-3,911.62
19754-4,174.19
19755-4,295.02
19756-4,313.57
19757-4,011.78
19758-3,977.58
19759-4,175.31
197510-4,260.56
197511-4,210.30
197512-4,612.19
19761-4,804.89
19762-4,843.44
19763-4,896.50
19764-4,877.73
19765-4,921.66
19766-5,052.84
19767-5,024.52
19768-5,147.01
19769-4,987.03
197610-4,968.74
197611-5,156.88
197612-5,129.18
19771-5,007.69
19772-5,004.98
19773-4,945.23
19774-4,948.42
19775-4,992.95
19776-5,056.98
19777-4,951.86
19778-4,893.66
19779-4,786.11
197710-4,833.06
197711-4,829.19
197712-4,665.46
19781-4,620.12
19782-4,632.39
19783-4,856.14
19784-5,123.43
19785-5,157.94
19786-5,154.73
19787-5,532.47
19788-5,554.59
19789-5,400.53
197810-5,106.87
197811-5,205.07
197812-5,422.91
19791-5,365.60
19792-5,491.21
19793-5,624.70
19794-5,518.22
19795-5,651.63
19796-5,731.93
19797-6,019.35
19798-6,112.08
19799-5,907.17
197910-5,888.12
197911-6,147.43
197912-6,351.07
19801-6,630.25
19802-6,048.26
19803-5,977.97
19804-6,279.03
19805-6,709.94
19806-7,043.39
19807-7,290.24
19808-7,496.98
19809-7,746.23
198010-8,103.70
198011-8,002.83
198012-8,003.62
19811-7,757.90
19812-8,079.33
19813-8,183.86
19814-8,051.51
19815-8,120.56
19816-7,956.83
19817-8,020.68
19818-7,354.75
19819-7,481.79
198110-7,709.51
198111-7,800.44
198112-7,425.69
19821-7,283.57
19822-7,083.67
19823-7,471.10
19824-7,513.66
19825-7,117.64
19826-7,135.00
19827-7,191.65
19828-8,061.58
19829-8,777.56
198210-9,172.54
198211-9,296.88
198212-9,661.85
19831-9,867.65
19832-10,249.09
19833-10,679.29
19834-11,151.74
19835-11,347.29
19836-11,427.64
19837-11,152.56
19838-11,522.13
19839-11,596.79
198310-11,464.42
198311-11,449.73
198312-11,630.17
19841-11,035.62
19842-11,084.43
19843-11,140.65
19844-11,112.51
19845-10,907.12
19846-10,808.04
19847-11,803.08
19848-11,969.15
19849-11,919.79
198410-12,073.07
198411-11,987.64
198412-12,550.77
19851-13,277.13
19852-13,213.62
19853-13,349.02
19854-13,714.20
19855-14,058.56
19856-14,374.49
19857-14,109.24
19858-13,843.28
19859-14,050.31
198510-14,952.41
198511-15,744.07
198512-15,862.42
19861-16,766.15
19862-17,802.76
19863-18,290.81
19864-18,380.77
19865-18,956.68
19866-18,614.72
19867-19,039.29
19868-18,571.64
19869-18,554.95
198610-19,210.49
198611-19,538.79
198612-20,842.68
19871-22,189.51
19872-23,160.61
19873-22,962.26
19874-23,001.95
19875-24,036.68
19876-24,787.13
19877-26,386.89
19878-25,587.26
19879-22,554.17
198710-19,779.24
198711-19,515.25
198712-20,343.97
19881-21,021.13
19882-21,700.55
19883-21,508.28
19884-21,037.62
19885-22,299.50
19886-22,231.05
19887-21,849.02
19888-22,270.08
19889-23,116.71
198810-22,649.69
198811-23,176.51
198812-23,990.63
19891-24,782.28
19892-24,742.22
19893-25,624.23
19894-26,678.74
19895-27,583.85
19896-28,356.25
19897-29,686.37
19898-29,821.60
19899-29,906.97
198910-29,364.59
198911-30,168.21
198912-29,501.13
19901-28,755.58
19902-29,534.04
19903-29,591.92
19904-30,731.48
19905-31,705.66
19906-31,759.47
19907-29,262.79
19908-27,992.47
19909-27,344.23
199010-28,160.13
199011-29,451.73
199012-29,249.93
19911-32,644.91
19912-33,638.82
19913-34,398.66
19914-34,337.13
19915-34,456.28
19916-34,725.21
19917-35,655.48
19918-35,547.40
19919-35,611.97
199110-35,617.60
199111-35,950.67
199112-38,595.93
19921-38,364.03
19922-37,975.64
19923-38,076.01
19924-38,863.56
19925-38,347.01
19926-39,080.26
19927-39,448.29
19928-39,597.47
19929-39,129.41
199210-40,208.17
199211-41,523.46
199212-41,582.79
19931-42,299.78
19932-43,209.29
19933-42,629.54
19934-42,938.48
19935-43,309.98
19936-43,336.40
19937-44,100.19
19938-44,697.73
19939-45,252.84
199310-45,256.25
199311-45,657.76
199312-46,450.32
19941-46,415.16
19942-45,754.29
19943-44,223.18
19944-44,691.17
19945-45,186.39
19946-44,951.93
19947-46,337.38
19948-46,716.17
19949-46,508.75
199410-46,336.72
199411-45,861.44
199412-46,985.58
19951-48,780.01
19952-50,027.88
19953-51,636.56
19954-53,365.22
19955-55,061.40
19956-57,014.69
19957-57,307.24
19958-59,437.74
19959-59,980.15
199510-61,394.71
199511-63,475.46
199512-63,578.66
19961-67,332.59
19962-67,197.46
19963-67,329.86
19964-68,915.37
19965-69,796.51
19966-67,369.99
19967-69,442.13
19968-70,847.45
19969-73,766.00
199610-77,492.72
199611-78,421.26
199612-80,975.87
19971-84,507.36
19972-83,980.30
19973-81,120.56
19974-88,598.12
19975-93,326.44
19976-98,679.58
19977-99,022.77
19978-100,203.13
19979-101,851.85
199710-100,678.47
199711-103,330.97
199712-103,575.95
19981-110,207.05
19982-116,062.21
19983-120,014.91
19984-119,748.65
19985-119,888.10
19986-125,244.30
19987-116,513.51
19988-110,806.16
19989-112,236.51
199810-124,553.77
199811-129,665.59
199812-136,210.70
19991-136,119.84
19992-140,099.31
19993-146,053.57
19994-145,909.22
19995-145,016.59
19996-151,574.81
19997-145,853.79
19998-144,981.56
19999-143,136.71
199910-153,307.93
199911-157,613.94
199912-157,426.48
20001-153,525.33
20002-159,575.70
20003-161,849.12
20004-157,254.55
20005-162,229.27
20006-163,608.77
20007-165,146.22
20008-163,363.22
20009-154,845.09
200010-153,648.81
200011-148,547.56
200012-149,223.46
20011-146,035.66
20012-132,775.76
20013-133,371.52
20014-142,546.59
20015-139,141.65
20016-135,440.17
20017-132,669.28
20018-117,747.53
20019-121,496.65
200110-127,636.06
200111-129,507.26
200112-129,121.73
20021-124,792.58
20022-130,963.91
20023-126,361.27
20024-122,797.42
20025-115,526.63
20026-103,097.70
20027-104,271.77
20028-99,310.80
20029-97,953.18
200210-104,443.14
200211-103,362.09
200212-103,132.09
20031-96,516.34
20032-97,778.67
20033-102,947.11
20034-108,415.88
20035-114,600.12
20036-115,283.03
20037-115,091.28
20038-118,729.53
20039-121,137.16
200310-122,603.63
200311-126,359.97
200312-132,595.79
20041-134,036.66
20042-131,938.72
20043-133,216.07
20044-129,800.07
20045-133,509.34
20046-130,520.36
20047-128,709.29
20048-132,290.79
20049-132,426.52
200410-138,748.42
200411-142,532.71
200412-140,609.63
20051-142,973.57
20052-142,608.14
20053-139,172.83
20054-141,032.00
20055-144,107.48
20056-146,712.64
20057-147,167.48
20058-147,579.09
20059-143,706.29
200510-149,399.28
200511-152,602.59
200512-154,840.92
20061-154,815.16
20062-157,115.92
20063-158,370.23
20064-157,124.43
20065-152,872.97
20066-153,973.72
20067-157,502.42
20068-161,489.08
20069-167,328.39
200610-170,677.71
200611-174,344.32
200612-175,552.22
20071-178,354.12
20072-173,941.83
20073-181,213.05
20074-187,359.35
20075-188,005.56
20076-189,085.87
20077-181,142.17
20078-186,711.83
20079-192,297.56
200710-183,055.14
200711-185,321.77
200712-173,025.31
20081-170,319.25
20082-165,845.58
20083-172,883.74
20084-177,314.07
20085-169,784.28
20086-159,463.99
20087-162,829.53
20088-154,936.31
20089-123,649.12
200810-113,008.68
200811-112,611.77
200812-111,378.05
20091-103,912.93
20092-98,002.95
20093-110,078.62
20094-117,409.66
20095-120,777.98
20096-122,321.09
20097-132,254.48
20098-137,082.22
20099-140,376.46
200910-143,316.40
200911-146,506.41
200912-148,494.46
20101-144,190.39
20102-152,759.67
20103-159,004.38
20104-149,651.11
20105-144,348.13
20106-144,118.51
20107-145,363.14
20108-150,263.55
20109-157,141.77
201010-161,056.04
201011-167,037.23
201012-172,820.39
20111-178,265.72
20112-176,282.58
20113-180,197.79
20114-181,385.72
20115-174,742.28
20116-180,162.33
20117-161,424.28
20118-160,150.25
20119-164,985.03
201110-167,900.52
201111-170,510.95
201112-178,665.74
20121-186,102.90
20122-191,469.80
20123-191,396.64
20124-185,480.66
20125-183,343.16
20126-188,698.77
20127-195,091.32
20128-200,985.36
20129-200,548.95
201210-194,858.38
201211-199,097.60
201212-207,596.60
20131-212,439.87
20132-218,223.45
20133-221,395.96
20134-231,523.21
20135-228,935.30
20136-236,385.95
20137-236,982.89
20138-239,808.83
20139-244,886.91
201310-254,339.53
201311-258,209.71
201312-260,708.69
20141-260,369.67
20142-267,457.64
20143-267,997.16
20144-272,102.97
20145-280,800.25
20146-285,000.52
20147-283,783.71
20148-288,829.48
20149-281,185.36
201410-297,228.82
201411-299,112.92
201412-295,792.63
20151-304,155.86
20152-304,324.26
20153-306,997.47
20154-310,002.68
20155-308,652.62
20156-308,406.84
20157-300,929.83
20158-287,366.63
20159-299,772.60
201510-308,563.34
201511-305,159.98
201512-285,569.86
20161-283,999.49
20162-302,069.60
20163-310,621.98
20164-309,676.55
20165-312,979.22
20166-323,299.52
20167-327,176.71
20168-325,741.48
20169-324,093.29
201610-327,986.17
201611-340,928.39
201612-345,829.69
20171-354,739.80
20172-360,945.12
20173-360,389.25
20174-366,488.38
20175-372,998.78
20176-376,683.57
20177-377,617.02
20178-383,860.02
20179-394,357.82
201710-400,626.41
201711-412,178.42
201712-432,218.11
20181-419,741.33
20182-420,012.39
20183-413,023.50
20184-421,125.46
20185-430,023.71
20186-436,821.28
20187-447,526.92
20188-455,044.24
20189-437,529.65
201810-428,446.06
201811-404,613.70
201812-411,636.32
20191-435,630.20
20192-444,116.37
20193-460,651.80
20194-453,595.59
20195-459,967.47
20196-477,572.00
20197-462,602.92
20198-476,875.27
20199-476,922.02
201910-498,067.27
201911-510,366.15
201912-527,445.03
20201-528,088.91
20202-428,186.59
20203-446,678.32
20204-472,975.90
20205-503,758.46
20206-521,271.30
20207-551,992.44
20208-548,531.44
20209-557,999.10
202010-580,063.03
202011-604,774.18
202012-621,679.44
20211-637,168.76
20212-642,402.19
20213-681,084.35
20214-686,262.17
20215-698,686.41
20216-720,123.52
20217-735,859.39
20218-735,237.59
20219-738,562.16
202110-773,605.05
202111-775,658.22
202112-759,742.08
20221-737,690.04
20222-731,105.54
20223-731,970.45
20224-674,344.39
20225-651,623.13
20226-654,651.13
20227-696,859.06
20228-646,145.81
20229-626,172.31
202210-633,650.49
Click to show 1038 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 1935 to 2022
Start Value
Average monthly close
$9.26
End Value
Average monthly close
$4,573.82
Change in price+49,293.26%
+7.39% / yr
Change incl. dividends+881,359.55%
+10.90% / yr
Change incl. dividends, inflation-adjusted+41,163.47%
+7.10% / yr
Final amount, nominal
($100 base)
$881,459.55
Final amount, inflation-adjusted
($100 base)
$41,263.47