S&P 500: $100 in 1937 → $615,781.14 in 2024

$

Stock market returns since 1937

If you invested $100 in the S&P 500 at the beginning of 1937, you would have about $615,781.14 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 615,681.14%, or 10.50% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 28,133.44% cumulatively, or 6.67% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $787,186.54.

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 $615,681.14, or 615,681.14%. This means by 2024 you would have $615,781.14 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 1937 was 14.400 and the CPI in 2024 was 314.069.

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

Adjusted for inflation, the $615,781.14 nominal end value of the original $100 investment would have a real return of roughly $28,133.44 in 1937 dollars. This means the inflation-adjusted return is 28,133.44% as opposed to the original 615,681.14%.

For more information on inflation, see our U.S. inflation calculator for 1937.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1049-month period between 1937 and 2024.

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

YearMonthReturn (%)Amount ($)CPI
193713.30%103.3014.10
193720.23%103.5414.10
19373-5.62%97.7214.20
19374-4.09%93.7214.30
19375-3.34%90.5914.40
193766.39%96.3914.40
193771.44%97.7714.50
19378-13.76%84.3214.50
19379-14.10%72.4314.60
193710-8.27%66.4414.60
193711-1.02%65.7714.50
1937123.24%67.8914.40
19381-1.80%66.6714.20
19382-6.02%62.6614.10
19383-3.44%60.5014.10
193841.56%61.4414.20
193852.93%63.2414.10
1938620.49%76.2014.10
193871.06%77.0114.10
19388-4.08%73.8614.10
1938911.62%82.4414.10
1938100.47%82.8314.00
193811-2.55%80.7114.00
193812-1.16%79.7714.00
19391-0.46%79.4114.00
193920.27%79.6213.90
19393-12.24%69.8713.90
193944.10%72.7413.80
193952.17%74.3213.80
193962.84%76.4213.80
19397-1.07%75.6113.80
1939811.06%83.9713.80
193991.38%85.1314.10
193910-1.41%83.9314.00
193911-1.97%82.2714.00
193912-0.15%82.1514.00
19401-0.23%81.9613.90
19402-0.15%81.8514.00
194031.42%83.0114.00
19404-13.34%71.9314.00
19405-8.09%66.1114.00
194063.87%68.6714.10
194072.65%70.4914.00
194084.76%73.8414.00
194091.47%74.9214.00
1940102.85%77.0614.00
194011-3.59%74.2914.00
1940120.72%74.8314.10
19411-5.72%70.5514.10
194121.18%71.3814.10
19413-2.55%69.5614.20
19414-1.59%68.4514.30
194154.11%71.2714.40
194165.71%75.3414.70
194170.08%75.3914.70
194180.86%76.0414.90
19419-3.43%73.4315.10
194110-4.08%70.4315.30
194111-5.88%66.2915.40
1941122.62%68.0215.50
19421-2.48%66.3415.70
19422-4.76%63.1815.80
19423-3.45%61.0016.00
194241.87%62.1416.10
194255.75%65.7116.30
194264.38%68.5916.30
194270.05%68.6216.40
194281.66%69.7616.50
194297.97%75.3216.50
1942102.15%76.9416.70
1942111.06%77.7616.80
1942126.50%82.8116.90
194316.43%88.1416.90
194324.01%91.6816.90
194333.79%95.1517.20
194344.36%99.3017.40
194352.18%101.4717.50
194362.47%103.9817.50
19437-4.54%99.2617.40
194382.55%101.7917.30
19439-0.50%101.2817.40
194310-4.21%97.0217.40
1943111.77%98.7417.40
1943123.67%102.3617.40
19441-0.24%102.1117.40
194423.24%105.4217.40
19443-1.31%104.0417.40
194442.20%106.3317.50
194455.14%111.8017.50
194463.02%115.1717.60
19447-1.06%113.9617.70
19448-1.23%112.5617.70
194492.88%115.8117.70
194410-0.28%115.4817.70
1944112.60%118.4817.70
1944123.38%122.4917.80
194513.73%127.0617.80
194520.31%127.4617.80
194532.90%131.1617.80
194544.16%136.6217.80
194552.19%139.6117.90
19456-1.70%137.2418.10
194570.71%138.2118.10
194587.18%148.1318.10
194594.51%154.8218.10
1945103.61%160.4018.10
1945112.02%163.6518.10
1945124.30%170.6818.20
194610.59%171.6818.20
19462-2.68%167.0918.10
194636.77%178.4018.30
194640.52%179.3218.40
19465-0.34%178.7118.50
19466-2.55%174.1618.70
19467-1.62%171.3319.80
19468-14.42%146.6220.20
19469-1.87%143.8820.40
194610-0.01%143.8620.80
1946113.39%148.7421.30
1946120.92%150.1121.50
194714.27%156.5221.50
19472-3.67%150.7721.50
19473-3.30%145.8021.90
19474-1.36%143.8121.90
194753.92%149.4521.90
194766.69%159.4522.00
19477-1.56%156.9722.20
19478-2.17%153.5722.50
194793.03%158.2123.00
194710-0.73%157.0623.00
194711-1.12%155.3023.10
194712-0.86%153.9523.40
19481-4.45%147.1123.70
194821.92%149.9323.50
194838.19%162.2023.40
194845.33%170.8523.80
194854.59%178.6923.90
19486-1.96%175.1924.10
19487-2.49%170.8324.40
19488-0.68%169.6724.50
194893.19%175.0824.50
194810-5.10%166.1524.40
194811-0.16%165.8924.20
1948121.63%168.5924.10
19491-3.33%162.9824.00
194921.49%165.4123.80
194930.41%166.1023.80
19494-0.18%165.7923.90
19495-4.91%157.6523.80
194966.26%167.5223.90
194974.17%174.5123.70
194981.87%177.7723.80
194993.14%183.3623.90
1949101.95%186.9323.70
1949113.24%192.9923.80
1949122.63%198.0623.60
195012.52%203.0623.50
195021.38%205.8523.50
195033.39%212.8223.60
195043.91%221.1523.60
195052.16%225.9423.70
19506-6.72%210.7523.80
195076.64%224.7424.10
195084.11%233.9724.30
195094.72%245.0224.40
1950100.38%245.9424.60
1950110.19%246.4224.70
1950128.01%266.1625.00
195114.31%277.6325.40
19512-1.11%274.5425.70
195131.93%279.8325.80
195140.63%281.5925.80
19515-1.15%278.3725.90
195162.37%284.9625.90
195174.97%299.1025.90
195183.14%308.4825.90
195190.03%308.5726.10
195110-2.25%301.6226.20
1951113.61%312.5226.40
1951123.83%324.5026.50
19521-1.33%320.1826.50
195220.75%322.5826.30
195230.20%323.2326.30
195240.46%324.7226.40
195253.24%335.2526.40
195263.37%346.5426.50
195270.88%349.5926.70
19528-1.11%345.7226.70
19529-1.61%340.1526.70
1952103.67%352.6226.70
1952114.51%368.5226.70
1952120.99%372.1726.70
19531-0.77%369.2926.60
195320.96%372.8226.50
19533-4.47%356.1526.60
195341.00%359.7226.60
19535-3.11%348.5426.70
195361.91%355.2126.80
195370.90%358.4026.80
19538-4.11%343.6826.90
195393.52%355.7726.90
1953102.71%365.4027.00
1953111.84%372.1126.90
1953123.02%383.3726.90
195412.68%393.6326.90
195422.58%403.7926.90
195434.45%421.7626.90
195444.42%440.4226.80
195451.22%445.8026.90
195464.46%465.6726.90
195472.39%476.8226.90
195482.74%489.8926.90
195492.71%503.1726.80
1954104.30%524.8126.80
1954114.95%550.8126.80
1954122.17%562.7526.70
195513.70%583.6026.70
19552-0.44%581.0526.70
195533.81%603.1826.70
19554-0.08%602.7126.70
195556.15%639.7426.70
195567.64%688.6526.70
19557-0.30%686.5926.80
195584.82%719.6626.80
19559-4.72%685.6526.90
1955107.07%734.1026.90
1955111.24%743.1826.90
195512-2.39%725.4426.80
195610.95%732.3326.80
195627.21%785.1026.80
195631.48%796.7426.80
19564-2.84%774.1226.90
19565-0.26%772.1027.00
195665.75%816.4827.20
19567-0.28%814.1627.40
19568-3.09%789.0127.30
19569-0.95%781.4927.40
195610-0.71%775.9227.50
1956111.81%789.9527.50
195612-1.86%775.2427.60
19571-4.00%744.2627.60
195721.62%756.3227.70
195732.64%776.3227.80
195744.16%808.6227.90
195751.95%824.4228.00
195762.32%843.5628.10
19577-5.21%799.6628.30
19578-3.74%769.7528.30
19579-5.90%724.3628.30
195710-1.80%711.3228.30
1957110.32%713.5828.40
1957122.33%730.2028.40
195810.70%735.3328.60
195822.42%753.1128.60
195830.90%759.8628.80
195843.56%786.9028.90
195852.74%808.4228.90
195863.07%833.2528.90
195874.05%867.0329.00
195882.94%892.5528.90
195894.36%931.4628.90
1958103.33%962.4428.90
1958112.16%983.2529.00
1958124.25%1,025.0928.90
19591-1.27%1,012.1229.00
195922.81%1,040.5228.90
195931.94%1,060.6728.90
195941.77%1,079.4029.00
19595-0.61%1,072.8529.00
195964.23%1,118.2129.10
19597-0.32%1,114.6529.20
19598-3.70%1,073.3729.20
195990.18%1,075.2729.30
1959100.67%1,082.4629.40
1959113.46%1,119.9529.40
195912-1.49%1,103.3129.40
19601-3.61%1,063.4929.30
19602-1.08%1,052.0229.40
196031.58%1,068.6929.40
19604-0.62%1,062.0129.50
196053.99%1,104.3729.50
19606-2.20%1,080.1129.60
196071.49%1,096.2229.60
19608-2.72%1,066.3929.60
19609-1.67%1,048.5429.60
1960103.54%1,085.6729.80
1960112.69%1,114.8829.80
1960125.43%1,175.3829.80
196114.37%1,226.8029.80
196123.40%1,268.4729.80
196132.92%1,305.5029.80
196141.26%1,321.9929.80
19615-1.08%1,307.7129.80
19616-0.03%1,307.3529.80
196173.84%1,357.5330.00
19618-0.54%1,350.1829.90
196191.34%1,368.3130.00
1961104.77%1,433.6130.00
1961111.16%1,450.2830.00
196112-3.49%1,399.7130.00
196211.91%1,426.4430.00
196220.34%1,431.3030.10
19623-2.94%1,389.1530.10
19624-7.19%1,289.3430.20
19625-11.41%1,142.1930.20
196262.72%1,173.2330.20
196273.02%1,208.6930.30
19628-0.59%1,201.5230.30
19629-2.86%1,167.2030.40
1962107.20%1,251.2530.40
1962114.62%1,309.1130.40
1962124.15%1,363.3930.40
196311.60%1,385.1530.40
19632-0.11%1,383.6530.40
196334.98%1,452.5330.50
196342.27%1,485.4930.50
196350.22%1,488.7130.50
19636-1.22%1,470.5230.60
196373.03%1,515.0930.70
196382.89%1,558.9330.70
196390.50%1,566.7330.70
196310-0.31%1,561.9230.80
1963112.39%1,599.3130.80
1963123.33%1,652.5730.90
196411.48%1,677.0230.90
196422.07%1,711.7530.90
196431.69%1,740.7430.90
196441.22%1,761.9830.90
19645-0.35%1,755.8030.90
196463.96%1,825.3531.00
19647-1.23%1,802.9831.10
196481.97%1,838.4131.00
196491.97%1,874.6331.10
1964100.94%1,892.2031.10
196411-1.49%1,864.0031.20
1964122.82%1,916.5831.20
196510.98%1,935.2631.20
196520.34%1,941.7631.20
196531.56%1,972.0031.30
196541.73%2,006.1731.40
19655-4.51%1,915.7531.40
196560.10%1,917.7231.60
196572.12%1,958.3431.60
196583.60%2,028.7731.60
196592.50%2,079.4231.60
1965101.08%2,101.8031.70
196511-0.21%2,097.3531.70
1965121.98%2,138.8931.80
19661-0.43%2,129.6831.80
19662-3.86%2,047.4332.00
196633.32%2,115.4232.10
19664-5.01%2,009.4932.30
19665-0.56%1,998.2532.30
196660.02%1,998.6132.40
19667-5.77%1,883.3032.50
19668-3.22%1,822.5732.70
19669-0.56%1,812.2832.70
1966105.32%1,908.6332.90
1966110.72%1,922.2932.90
1966124.13%2,001.6832.90
196713.73%2,076.3532.90
196722.63%2,131.0332.90
196731.99%2,173.4933.00
196742.06%2,218.2233.10
19675-0.99%2,196.2133.20
196761.99%2,239.9733.30
196771.85%2,281.4533.40
196781.65%2,319.1833.50
196790.10%2,321.4433.60
196710-2.88%2,254.5433.70
1967113.11%2,324.7033.80
196712-0.02%2,324.2933.90
19681-4.26%2,225.3534.10
19682-1.56%2,190.6534.20
196837.66%2,358.4934.30
196842.56%2,418.8134.40
196852.94%2,489.9434.50
196860.05%2,491.1634.70
19687-1.93%2,442.9934.90
196883.51%2,528.6835.00
196892.72%2,597.3935.10
1968101.79%2,643.7735.30
1968111.29%2,677.7535.40
196812-3.99%2,571.0435.50
19691-0.24%2,564.9035.60
19692-1.91%2,515.8235.80
196932.27%2,573.0336.10
196943.51%2,663.4436.30
19695-4.97%2,531.0336.40
19696-4.21%2,424.5936.60
19697-0.28%2,417.7136.80
196980.63%2,432.9137.00
196991.35%2,465.6737.10
1969101.00%2,490.2637.30
196911-5.03%2,365.0637.50
196912-0.59%2,351.1337.70
19701-3.20%2,275.9937.80
197022.01%2,321.7938.00
19703-2.75%2,257.9938.20
19704-11.20%2,005.1238.50
19705-0.27%1,999.7138.60
197060.52%2,010.1638.80
197073.26%2,075.6039.00
197086.32%2,206.8139.00
197092.49%2,261.7539.20
1970100.21%2,266.4239.40
1970117.16%2,428.6639.60
1970124.11%2,528.5039.80
197114.15%2,633.4639.80
197122.83%2,708.0339.90
197133.67%2,807.5240.00
19714-1.11%2,776.4240.10
19715-1.60%2,732.1140.30
19716-0.46%2,719.4640.60
19717-1.52%2,678.2040.70
197182.49%2,744.7940.80
19719-1.86%2,693.6440.80
197110-4.37%2,575.8940.90
1971117.16%2,760.4140.90
1971124.42%2,882.4941.10
197212.09%2,942.6541.10
197222.62%3,019.7441.30
197231.26%3,057.7541.40
19724-0.78%3,034.0341.50
197250.52%3,049.6841.60
19726-0.50%3,034.3241.70
197273.78%3,149.1341.90
19728-1.21%3,111.0142.00
197290.42%3,123.9942.10
1972105.25%3,288.1442.30
1972112.31%3,364.1442.40
1972120.99%3,397.4342.50
19731-3.33%3,284.4642.60
19732-1.35%3,240.2742.90
19733-1.63%3,187.3543.30
19734-2.57%3,105.4443.60
19735-1.99%3,043.6543.90
197361.21%3,080.4844.20
19737-1.64%3,030.1044.30
197382.00%3,090.5645.10
197394.24%3,221.4645.20
197310-6.85%3,000.7045.60
197311-6.81%2,796.4945.90
1973121.70%2,844.0446.20
19741-2.47%2,773.7146.60
197424.57%2,900.6047.20
19743-4.82%2,760.8947.80
19744-2.71%2,686.1948.00
197450.46%2,698.4748.60
19746-11.35%2,392.2849.00
19747-3.76%2,302.2249.40
19748-10.01%2,071.6850.00
197492.38%2,120.9250.60
1974103.74%2,200.3251.10
197411-6.09%2,066.2851.50
1974128.63%2,244.6651.90
1975110.81%2,487.2552.10
197524.97%2,610.9652.50
197531.49%2,649.7852.70
197546.71%2,827.6552.90
197552.89%2,909.5053.20
197560.43%2,922.0753.60
19757-7.00%2,717.6354.20
19758-0.85%2,694.4654.30
197594.97%2,828.4154.60
1975102.04%2,886.1654.90
197511-1.18%2,852.1155.30
1975129.55%3,124.3555.50
197614.18%3,254.8955.60
197620.80%3,281.0155.80
197631.10%3,316.9555.90
19764-0.38%3,304.2456.10
197650.90%3,334.0056.50
197662.67%3,422.8656.80
19767-0.56%3,403.6757.10
197682.44%3,486.6557.40
19769-3.11%3,378.2857.60
197610-0.37%3,365.8957.90
1976113.79%3,493.3458.00
197612-0.54%3,474.5758.20
19771-2.37%3,392.2758.50
19772-0.05%3,390.4459.10
19773-1.19%3,349.9659.50
197740.06%3,352.1360.00
197750.90%3,382.2960.30
197761.28%3,425.6660.70
19777-2.08%3,354.4661.00
19778-1.18%3,315.0361.20
19779-2.20%3,242.1761.40
1977100.98%3,273.9861.60
197711-0.08%3,271.3661.90
197712-3.39%3,160.4562.10
19781-0.97%3,129.7362.50
197820.27%3,138.0462.90
197834.83%3,289.6163.40
197845.50%3,470.6863.90
197850.67%3,494.0664.50
19786-0.06%3,491.8865.20
197877.33%3,747.7765.70
197880.40%3,762.7566.00
19789-2.77%3,658.3966.50
197810-5.44%3,459.4667.10
1978111.92%3,525.9867.40
1978124.19%3,673.5567.70
19791-1.06%3,634.7268.30
197922.34%3,719.8269.10
197932.43%3,810.2469.80
19794-1.89%3,738.1170.60
197952.42%3,828.4971.50
197961.42%3,882.8972.30
197975.01%4,077.5973.10
197981.54%4,140.4073.80
19799-3.35%4,001.5974.60
197910-0.32%3,988.6975.20
1979114.40%4,164.3575.90
1979123.31%4,302.2976.70
198014.40%4,491.4277.80
19802-8.78%4,097.1778.90
19803-1.16%4,049.5680.10
198045.04%4,253.5081.00
198056.86%4,545.4081.80
198064.97%4,771.2882.70
198073.50%4,938.5082.70
198082.84%5,078.5583.30
198093.32%5,247.4084.00
1980104.61%5,489.5584.80
198011-1.24%5,421.2285.50
1980120.01%5,421.7686.30
19811-3.07%5,255.3087.00
198124.14%5,473.0487.90
198131.29%5,543.8588.50
19814-1.62%5,454.2089.10
198150.86%5,500.9789.80
19816-2.02%5,390.0690.60
198170.80%5,433.3291.60
19818-8.30%4,982.2092.30
198191.73%5,068.2693.20
1981103.04%5,222.5293.40
1981111.18%5,284.1293.70
198112-4.80%5,030.2694.00
19821-1.91%4,933.9994.30
19822-2.74%4,798.5794.60
198235.47%5,061.0294.50
198240.57%5,089.8594.90
19825-5.27%4,821.5895.80
198260.24%4,833.3497.00
198270.79%4,871.7297.50
1982812.10%5,461.0297.70
198298.88%5,946.0397.90
1982104.50%6,213.6098.20
1982111.36%6,297.8298.00
1982123.93%6,545.0697.60
198312.13%6,684.4797.80
198323.87%6,942.8797.90
198334.20%7,234.2997.90
198344.42%7,554.3398.60
198351.75%7,686.8099.20
198360.71%7,741.2399.50
19837-2.41%7,554.8999.90
198383.31%7,805.24100.20
198390.65%7,855.81100.70
198310-1.14%7,766.15101.00
198311-0.13%7,756.20101.20
1983121.58%7,878.43101.30
19841-5.11%7,475.67101.90
198420.44%7,508.74102.40
198430.51%7,546.82102.60
19844-0.25%7,527.76103.10
19845-1.85%7,388.63103.40
19846-0.91%7,321.50103.70
198479.21%7,995.56104.10
198481.41%8,108.06104.50
19849-0.41%8,074.62105.00
1984101.29%8,178.45105.30
198411-0.71%8,120.58105.30
1984124.70%8,502.05105.30
198515.79%8,994.10105.50
19852-0.48%8,951.08106.00
198531.02%9,042.80106.40
198542.74%9,290.18106.90
198552.51%9,523.45107.30
198562.25%9,737.47107.60
19857-1.85%9,557.78107.80
19858-1.88%9,377.62108.00
198591.50%9,517.86108.30
1985106.42%10,128.96108.70
1985115.29%10,665.24109.00
1985120.75%10,745.41109.30
198615.70%11,357.60109.60
198626.18%12,059.82109.30
198632.74%12,390.43108.80
198640.49%12,451.37108.60
198653.13%12,841.50108.90
19866-1.80%12,609.85109.50
198672.28%12,897.46109.50
19868-2.46%12,580.67109.70
19869-0.09%12,569.37110.20
1986103.53%13,013.44110.30
1986111.71%13,235.83110.40
1986126.67%14,119.10110.50
198716.46%15,031.46111.20
198724.38%15,689.30111.60
19873-0.86%15,554.94112.10
198740.17%15,581.82112.70
198754.50%16,282.76113.10
198763.12%16,791.12113.50
198776.45%17,874.82113.80
19878-3.03%17,333.14114.40
19879-11.85%15,278.49115.00
198710-12.30%13,398.71115.30
198711-1.33%13,219.88115.40
1987124.25%13,781.27115.40
198813.33%14,239.99115.70
198823.23%14,700.23116.00
19883-0.89%14,569.98116.50
19884-2.19%14,251.15117.10
198856.00%15,105.97117.50
19886-0.31%15,059.60118.00
19887-1.72%14,800.81118.50
198881.93%15,086.04119.00
198893.80%15,659.56119.80
198810-2.02%15,343.20120.20
1988112.33%15,700.07120.30
1988123.51%16,251.56120.50
198913.30%16,787.84121.10
19892-0.16%16,760.70121.60
198933.56%17,358.18122.30
198944.12%18,072.53123.10
198953.39%18,685.66123.80
198962.80%19,208.89124.10
198974.69%20,109.93124.40
198980.46%20,201.54124.60
198990.29%20,259.37125.00
198910-1.81%19,891.95125.60
1989112.74%20,436.34125.90
198912-2.21%19,984.44126.10
19901-2.53%19,479.40127.40
199022.71%20,006.74128.00
199030.20%20,045.95128.70
199043.85%20,817.91128.90
199053.17%21,477.82129.20
199060.17%21,514.28129.90
19907-7.86%19,822.99130.40
19908-4.34%18,962.46131.60
19909-2.32%18,523.34132.70
1990102.98%19,076.04133.50
1990114.59%19,950.98133.80
199012-0.69%19,814.28133.80
1991111.61%22,114.08134.60
199123.04%22,787.37134.80
199132.26%23,302.10135.00
19914-0.18%23,260.42135.20
199150.35%23,341.13135.60
199160.78%23,523.31136.00
199172.68%24,153.48136.20
19918-0.30%24,080.27136.60
199190.18%24,124.01137.20
1991100.02%24,127.82137.40
1991110.94%24,353.45137.80
1991127.36%26,145.38137.90
19921-0.60%25,988.29138.10
19922-1.01%25,725.19138.60
199230.26%25,793.18139.30
199242.07%26,326.68139.50
19925-1.33%25,976.76139.70
199261.91%26,473.47140.20
199270.94%26,722.78140.50
199280.38%26,823.84140.90
19929-1.18%26,506.77141.30
1992102.76%27,237.54141.80
1992113.27%28,128.53142.00
1992120.14%28,168.72141.90
199311.72%28,654.42142.60
199322.15%29,270.54143.10
19933-1.34%28,877.80143.60
199340.72%29,087.08144.00
199350.87%29,338.74144.20
199360.06%29,356.64144.40
199371.76%29,874.04144.40
199381.35%30,278.82144.80
199391.24%30,654.86145.10
1993100.01%30,657.17145.70
1993110.89%30,929.16145.80
1993121.74%31,466.05145.80
19941-0.08%31,442.23146.20
19942-1.42%30,994.55146.70
19943-3.35%29,957.35147.20
199441.06%30,274.38147.40
199451.11%30,609.84147.50
19946-0.52%30,451.02148.00
199473.08%31,389.54148.40
199480.82%31,646.14149.00
19949-0.44%31,505.63149.40
199410-0.37%31,389.09149.50
199411-1.03%31,067.13149.70
1994122.45%31,828.64149.70
199513.82%33,044.21150.30
199522.56%33,889.54150.90
199533.22%34,979.27151.40
199543.35%36,150.29151.90
199553.18%37,299.30152.20
199563.55%38,622.49152.50
199570.51%38,820.67152.50
199583.72%40,263.89152.90
199590.91%40,631.33153.20
1995102.36%41,589.57153.70
1995113.39%42,999.10153.60
1995120.16%43,069.01153.50
199615.90%45,611.97154.40
19962-0.20%45,520.43154.90
199630.20%45,610.12155.70
199642.35%46,684.16156.30
199651.28%47,281.06156.60
19966-3.48%45,637.31156.70
199673.08%47,041.00157.00
199682.02%47,992.98157.30
199694.12%49,970.05157.80
1996105.05%52,494.57158.30
1996111.20%53,123.58158.60
1996123.26%54,854.10158.60
199714.36%57,246.38159.10
19972-0.62%56,889.34159.60
19973-3.41%54,952.12160.00
199749.22%60,017.51160.20
199755.34%63,220.54160.10
199765.74%66,846.82160.30
199770.35%67,079.31160.50
199781.19%67,878.90160.80
199791.65%68,995.76161.20
199710-1.15%68,200.90161.60
1997112.63%69,997.74161.50
1997120.24%70,163.69161.30
199816.40%74,655.68161.60
199825.31%78,622.04161.90
199833.41%81,299.65162.20
19984-0.22%81,119.29162.50
199850.12%81,213.75162.80
199864.47%84,842.11163.00
19987-6.97%78,927.76163.20
19988-4.90%75,061.53163.40
199891.29%76,030.46163.60
19981010.97%84,374.34164.00
1998114.10%87,837.15164.00
1998125.05%92,270.89163.90
19991-0.07%92,209.34164.30
199922.92%94,905.09164.50
199934.25%98,938.58165.00
19994-0.10%98,840.79166.20
19995-0.61%98,236.12166.20
199964.52%102,678.74166.20
19997-3.77%98,803.25166.70
19998-0.60%98,212.39167.10
19999-1.27%96,962.66167.90
1999107.11%103,852.78168.20
1999112.81%106,769.72168.30
199912-0.12%106,642.74168.30
20001-2.48%104,000.05168.80
200023.94%108,098.64169.80
200031.42%109,638.69171.20
20004-2.84%106,526.27171.30
200053.16%109,896.21171.50
200060.85%110,830.70172.40
200070.94%111,872.19172.80
20008-1.08%110,664.36172.80
20009-5.21%104,894.07173.70
200010-0.77%104,083.69174.00
200011-3.32%100,628.04174.10
2000120.46%101,085.90174.00
20011-2.14%98,926.45175.10
20012-9.08%89,944.02175.80
200130.45%90,347.60176.20
200146.88%96,562.91176.90
20015-2.39%94,256.36177.70
20016-2.66%91,748.92178.00
20017-2.05%89,871.89177.50
20018-11.25%79,763.70177.50
200193.18%82,303.41178.30
2001105.05%86,462.32177.70
2001111.47%87,729.90177.40
200112-0.30%87,468.74176.70
20021-3.35%84,536.11177.10
200224.95%88,716.65177.80
20023-3.51%85,598.76178.80
20024-2.82%83,184.56179.80
20025-5.92%78,259.24179.80
20026-10.76%69,839.72179.90
200271.14%70,635.05180.10
20028-4.76%67,274.42180.70
20029-1.37%66,354.75181.00
2002106.63%70,751.14181.30
200211-1.04%70,018.82181.30
200212-0.22%69,863.01180.90
20031-6.41%65,381.42181.70
200321.31%66,236.54183.10
200335.29%69,737.71184.20
200345.31%73,442.32183.80
200355.70%77,631.61183.50
200360.60%78,094.22183.70
20037-0.17%77,964.33183.90
200383.16%80,428.92184.60
200392.03%82,059.88185.20
2003101.21%83,053.29185.00
2003113.06%85,597.88184.50
2003124.93%89,822.11184.30
200411.09%90,798.17185.20
20042-1.57%89,377.00186.20
200430.97%90,242.29187.40
20044-2.56%87,928.25188.00
200452.86%90,440.95189.10
20046-2.24%88,416.18189.70
20047-1.39%87,189.34189.40
200482.78%89,615.50189.50
200490.10%89,707.44189.90
2004104.77%93,989.98190.90
2004112.73%96,553.50191.00
200412-1.35%95,250.78190.30
200511.68%96,852.15190.70
20052-0.26%96,604.60191.80
20053-2.41%94,277.48193.30
200541.34%95,536.90194.60
200552.18%97,620.27194.40
200561.81%99,385.04194.50
200570.31%99,693.16195.40
200580.28%99,971.99196.40
20059-2.62%97,348.50198.80
2005103.96%101,205.01199.20
2005112.14%103,374.97197.60
2005121.47%104,891.25196.80
20061-0.02%104,873.79198.30
200621.49%106,432.36198.70
200630.80%107,282.04199.80
20064-0.79%106,438.13201.50
20065-2.71%103,558.13202.50
200660.72%104,303.79202.90
200672.29%106,694.18203.50
200682.53%109,394.80203.90
200693.62%113,350.42202.90
2006102.00%115,619.29201.80
2006112.15%118,103.10201.50
2006120.69%118,921.35201.80
200711.60%120,819.39202.42
20072-2.47%117,830.45203.50
200734.18%122,756.07205.35
200743.39%126,919.65206.69
200750.34%127,357.40207.95
200760.57%128,089.22208.35
20077-4.20%122,708.05208.30
200783.07%126,481.01207.92
200792.99%130,264.86208.49
200710-4.81%124,003.93208.94
2007111.24%125,539.37210.18
200712-6.64%117,209.58210.04
20081-1.56%115,376.47211.08
20082-2.63%112,345.95211.69
200834.24%117,113.69213.53
200842.56%120,114.85214.82
20085-4.25%115,014.07216.63
20086-6.08%108,022.97218.82
200872.11%110,302.84219.96
20088-4.85%104,955.87219.09
20089-20.19%83,761.51218.78
200810-8.61%76,553.54216.57
200811-0.35%76,284.68212.43
200812-1.10%75,448.93210.23
20091-6.70%70,391.96211.14
20092-5.69%66,388.47212.19
2009312.32%74,568.69212.71
200946.66%79,534.83213.24
200952.87%81,816.57213.86
200961.28%82,861.89215.69
200978.12%89,590.90215.35
200983.65%92,861.27215.83
200992.40%95,092.83215.97
2009102.09%97,084.38216.18
2009112.23%99,245.34216.33
2009121.36%100,592.07215.95
20101-2.90%97,676.44216.69
201025.94%103,481.38216.74
201034.09%107,711.63217.63
20104-5.88%101,375.60218.01
20105-3.54%97,783.29218.18
20106-0.16%97,627.75217.97
201070.86%98,470.87218.01
201083.37%101,790.48218.31
201094.58%106,449.87218.44
2010102.49%109,101.45218.71
2010113.71%113,153.19218.80
2010123.46%117,070.77219.18
201113.15%120,759.51220.22
20112-1.11%119,416.11221.31
201132.22%122,068.32223.47
201140.66%122,873.03224.91
20115-3.66%118,372.69225.96
201163.10%122,044.29225.72
20117-10.40%109,350.90225.92
20118-0.79%108,487.85226.55
201193.02%111,763.00226.89
2011101.77%113,737.99226.42
2011111.55%115,506.33226.23
2011124.78%121,030.49225.67
201214.16%126,068.51226.67
201222.88%129,704.12227.66
20123-0.04%129,654.56229.39
20124-3.09%125,647.00230.09
20125-1.15%124,199.03229.82
201262.92%127,826.99229.48
201273.39%132,157.39229.10
201283.02%136,150.08230.38
20129-0.22%135,854.46231.41
201210-2.84%131,999.59231.32
2012112.18%134,871.29230.22
2012124.27%140,628.62229.60
201312.33%143,909.52230.28
201322.72%147,827.39232.17
201331.45%149,976.49232.77
201344.57%156,836.82232.53
20135-1.12%155,083.74232.95
201363.25%160,130.90233.50
201370.25%160,535.28233.60
201381.19%162,449.61233.88
201392.12%165,889.56234.15
2013103.86%172,292.89233.55
2013111.52%174,914.61233.07
2013120.97%176,607.44233.05
20141-0.13%176,377.79233.92
201422.72%181,179.27234.78
201430.20%181,544.75236.29
201441.53%184,326.08237.07
201453.20%190,217.73237.90
201461.50%193,063.04238.34
20147-0.43%192,238.76238.25
201481.78%195,656.83237.85
20149-2.65%190,478.61238.03
2014105.71%201,346.66237.43
2014110.63%202,622.97236.15
201412-1.11%200,373.76234.81
201512.83%206,039.12233.71
201520.06%206,153.19234.72
201530.88%207,964.06236.12
201540.98%209,999.83236.60
20155-0.44%209,085.28237.81
20156-0.08%208,918.79238.64
20157-2.42%203,853.77238.65
20158-4.51%194,665.88238.32
201594.32%203,069.84237.95
2015102.93%209,024.80237.84
201511-1.10%206,719.32237.34
201512-6.42%193,448.72236.53
20161-0.55%192,384.93236.92
201626.36%204,625.86237.11
201632.83%210,419.35238.13
20164-0.30%209,778.91239.26
201651.07%212,016.18240.23
201663.30%219,007.28241.02
201671.20%221,633.74240.63
20168-0.44%220,661.50240.85
20169-0.51%219,544.99241.43
2016101.20%222,182.08241.73
2016113.95%230,949.31241.35
2016121.44%234,269.51241.43
201712.58%240,305.34242.84
201721.75%244,508.90243.60
20173-0.15%244,132.34243.80
201741.69%248,263.97244.52
201751.78%252,674.21244.73
201760.99%255,170.33244.96
201770.25%255,802.66244.79
201781.65%260,031.75245.52
201792.73%267,143.10246.82
2017101.59%271,389.52246.66
2017112.88%279,215.00246.67
2017124.86%292,790.15246.52
20181-2.89%284,338.22247.87
201820.06%284,521.84248.99
20183-1.66%279,787.47249.55
201841.96%285,275.84250.55
201852.11%291,303.63251.59
201861.58%295,908.39251.99
201872.45%303,160.53252.01
201881.68%308,252.86252.15
20189-3.85%296,388.25252.44
201810-2.08%290,234.91252.89
201811-5.56%274,090.56252.04
2018121.74%278,847.78251.23
201915.83%295,101.54251.71
201921.95%300,850.18252.78
201933.72%312,051.50254.20
20194-1.53%307,271.53255.55
201951.40%311,587.92256.09
201963.83%323,513.46256.14
20197-3.13%313,373.21256.57
201983.09%323,041.49256.56
201990.01%323,073.15256.76
2019104.43%337,397.22257.35
2019112.47%345,728.64257.21
2019123.35%357,298.09256.97
202010.12%357,734.27257.97
20202-18.92%290,059.14258.68
202034.32%302,585.68258.12
202045.89%320,400.00256.39
202056.51%341,252.51256.39
202063.48%353,115.93257.80
202075.89%373,926.83259.10
20208-0.63%371,582.30259.92
202091.73%377,995.82260.28
2020103.95%392,942.21260.39
2020114.26%409,681.87260.23
2020122.80%421,133.70260.47
202112.49%431,626.37261.58
202120.82%435,171.57263.01
202136.02%461,375.36264.88
202140.76%464,882.88267.05
202151.81%473,299.23269.20
202163.07%487,821.00271.70
202172.19%498,480.68273.00
20218-0.08%498,059.47273.57
202190.45%500,311.58274.31
2021104.74%524,050.08276.59
2021110.27%525,440.93277.95
202112-2.05%514,659.13278.80
20221-2.90%499,720.79281.15
20222-0.89%495,260.36283.72
202230.12%495,846.26287.50
20224-7.87%456,809.63289.11
20225-3.37%441,417.95292.30
202260.46%443,469.16296.31
202276.45%472,061.36296.28
20228-7.28%437,707.55296.17
20229-3.09%424,177.24296.81
2022105.29%446,595.41298.01
2022110.01%446,643.80297.71
2022121.38%452,791.66296.80
202313.15%467,040.89299.17
20232-2.59%454,965.89300.84
202334.00%473,147.33301.84
202340.74%476,637.71303.36
202354.94%500,194.04304.13
202363.88%519,581.77305.11
20237-1.00%514,398.23305.69
20238-0.95%509,493.05307.03
20239-3.04%494,018.15307.79
2023104.60%516,751.50307.67
2023115.18%543,494.67307.05
2023122.91%559,320.35306.75
202414.20%582,807.73308.42
202423.28%601,936.18310.33
20243-1.01%595,861.87312.33
202442.40%610,166.39313.55
202450.92%615,781.14314.07
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 1937. This would result in a final amount of $787,186.54, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $615,781.14).

YearMonthContribution ($)Amount ($)
193714.164.28
193724.168.45
193734.1611.88
193744.1615.37
193754.1618.86
193764.1624.48
193774.1629.03
193784.1628.61
193794.1628.13
1937104.1629.60
1937114.1633.39
1937124.1638.74
193814.1642.10
193824.1643.45
193834.1645.95
193844.1650.86
193854.1656.61
193864.1673.19
193874.1678.15
193884.1678.93
193894.1692.72
1938104.1697.32
1938114.1698.87
1938124.32101.98
19391-101.51
19392-101.78
19393-89.32
19394-92.98
19395-95.00
19396-97.70
19397-96.65
19398-107.34
19399-108.83
193910-107.29
193911-105.18
193912-105.02
19401-104.78
19402-104.63
19403-106.11
19404-91.96
19405-84.51
19406-87.78
19407-90.11
19408-94.40
19409-95.78
194010-98.51
194011-94.97
194012-95.66
19411-90.18
19412-91.24
19413-88.92
19414-87.51
19415-91.10
19416-96.31
19417-96.38
19418-97.21
19419-93.87
194110-90.04
194111-84.74
194112-86.96
19421-84.80
19422-80.77
19423-77.98
19424-79.43
19425-84.00
19426-87.68
19427-87.72
19428-89.18
19429-96.29
194210-98.36
194211-99.40
194212-105.86
19431-112.67
19432-117.20
19433-121.64
19434-126.94
19435-129.71
19436-132.92
19437-126.88
19438-130.12
19439-129.47
194310-124.03
194311-126.22
194312-130.85
19441-130.53
19442-134.76
19443-133.00
19444-135.93
19445-142.92
19446-147.23
19447-145.68
19448-143.89
19449-148.04
194410-147.62
194411-151.46
194412-156.58
19451-162.43
19452-162.94
19453-167.67
19454-174.65
19455-178.47
19456-175.44
19457-176.68
19458-189.36
19459-197.91
194510-205.05
194511-209.20
194512-218.19
19461-219.47
19462-213.59
19463-228.05
19464-229.23
19465-228.46
19466-222.64
19467-219.02
19468-187.44
19469-183.93
194610-183.90
194611-190.14
194612-191.89
19471-200.09
19472-192.74
19473-186.38
19474-183.84
19475-191.05
19476-203.84
19477-200.66
19478-196.31
19479-202.25
194710-200.78
194711-198.52
194712-196.81
19481-188.05
19482-191.66
19483-207.35
19484-218.41
19485-228.42
19486-223.95
19487-218.38
19488-216.90
19489-223.82
194810-212.40
194811-212.06
194812-215.52
19491-208.35
19492-211.45
19493-212.33
19494-211.94
19495-201.53
19496-214.15
19497-223.08
19498-227.26
19499-234.40
194910-238.96
194911-246.71
194912-253.20
19501-259.58
19502-263.15
19503-272.06
19504-282.71
19505-288.83
19506-269.41
19507-287.30
19508-299.10
19509-313.22
195010-314.40
195011-315.01
195012-340.25
19511-354.91
19512-350.97
19513-357.73
19514-359.97
19515-355.85
19516-364.27
19517-382.36
19518-394.35
19519-394.46
195110-385.58
195111-399.51
195112-414.82
19521-409.30
19522-412.37
19523-413.20
19524-415.10
19525-428.57
19526-443.00
19527-446.90
19528-441.95
19529-434.83
195210-450.78
195211-471.10
195212-475.76
19531-472.08
19532-476.60
19533-455.28
19534-459.85
19535-445.56
19536-454.08
19537-458.16
19538-439.35
19539-454.80
195310-467.11
195311-475.69
195312-490.08
19541-503.20
19542-516.19
19543-539.16
19544-563.01
19545-569.89
19546-595.30
19547-609.55
19548-626.25
19549-643.22
195410-670.90
195411-704.13
195412-719.40
19551-746.05
19552-742.79
19553-771.08
19554-770.47
19555-817.82
19556-880.34
19557-877.70
19558-919.97
19559-876.51
195510-938.44
195511-950.05
195512-927.37
19561-936.17
19562-1,003.63
19563-1,018.51
19564-989.60
19565-987.01
19566-1,043.75
19567-1,040.78
19568-1,008.63
19569-999.02
195610-991.90
195611-1,009.84
195612-991.03
19571-951.43
19572-966.85
19573-992.41
19574-1,033.70
19575-1,053.90
19576-1,078.37
19577-1,022.24
19578-984.02
19579-925.99
195710-909.32
195711-912.21
195712-933.46
19581-940.01
19582-962.75
19583-971.38
19584-1,005.94
19585-1,033.45
19586-1,065.19
19587-1,108.37
19588-1,141.00
19589-1,190.73
195810-1,230.34
195811-1,256.95
195812-1,310.43
19591-1,293.85
19592-1,330.16
19593-1,355.91
19594-1,379.85
19595-1,371.49
19596-1,429.47
19597-1,424.91
19598-1,372.15
19599-1,374.57
195910-1,383.77
195911-1,431.69
195912-1,410.42
19601-1,359.51
19602-1,344.86
19603-1,366.16
19604-1,357.63
19605-1,411.77
19606-1,380.77
19607-1,401.35
19608-1,363.23
19609-1,340.41
196010-1,387.87
196011-1,425.21
196012-1,502.56
19611-1,568.28
19612-1,621.56
19613-1,668.89
19614-1,689.97
19615-1,671.72
19616-1,671.25
19617-1,735.41
19618-1,726.01
19619-1,749.19
196110-1,832.66
196111-1,853.98
196112-1,789.33
19621-1,823.49
19622-1,829.71
19623-1,775.83
19624-1,648.23
19625-1,460.12
19626-1,499.80
19627-1,545.14
19628-1,535.97
19629-1,492.10
196210-1,599.54
196211-1,673.50
196212-1,742.90
19631-1,770.71
19632-1,768.79
19633-1,856.84
19634-1,898.98
19635-1,903.10
19636-1,879.84
19637-1,936.83
19638-1,992.87
19639-2,002.83
196310-1,996.69
196311-2,044.48
196312-2,112.56
19641-2,143.83
19642-2,188.23
19643-2,225.28
19644-2,252.43
19645-2,244.54
19646-2,333.44
19647-2,304.84
19648-2,350.14
19649-2,396.44
196410-2,418.90
196411-2,382.85
196412-2,450.06
19651-2,473.95
19652-2,482.25
19653-2,520.92
19654-2,564.60
19655-2,449.00
19656-2,451.52
19657-2,503.46
19658-2,593.49
19659-2,658.24
196510-2,686.84
196511-2,681.16
196512-2,734.26
19661-2,722.49
19662-2,617.34
19663-2,704.26
19664-2,568.84
19665-2,554.47
19666-2,554.94
19667-2,407.53
19668-2,329.89
19669-2,316.74
196610-2,439.90
196611-2,457.36
196612-2,558.86
19671-2,654.31
19672-2,724.21
19673-2,778.49
19674-2,835.67
19675-2,807.54
19676-2,863.48
19677-2,916.50
19678-2,964.74
19679-2,967.62
196710-2,882.11
196711-2,971.79
196712-2,971.27
19681-2,844.78
19682-2,800.43
19683-3,014.99
19684-3,092.10
19685-3,183.03
19686-3,184.59
19687-3,123.00
19688-3,232.55
19689-3,320.38
196810-3,379.67
196811-3,423.11
196812-3,286.70
19691-3,278.86
19692-3,216.11
19693-3,289.25
19694-3,404.82
19695-3,235.55
19696-3,099.49
19697-3,090.70
19698-3,110.12
19699-3,152.00
196910-3,183.44
196911-3,023.39
196912-3,005.58
19701-2,909.52
19702-2,968.07
19703-2,886.51
19704-2,563.25
19705-2,556.33
19706-2,569.69
19707-2,653.36
19708-2,821.08
19709-2,891.31
197010-2,897.29
197011-3,104.69
197012-3,232.31
19711-3,366.49
19712-3,461.82
19713-3,589.01
19714-3,549.24
19715-3,492.60
19716-3,476.43
19717-3,423.69
19718-3,508.82
19719-3,443.43
197110-3,292.90
197111-3,528.79
197112-3,684.85
19721-3,761.75
19722-3,860.29
19723-3,908.89
19724-3,878.56
19725-3,898.58
19726-3,878.93
19727-4,025.70
19728-3,976.97
19729-3,993.57
197210-4,203.40
197211-4,300.57
197212-4,343.11
19731-4,198.70
19732-4,142.21
19733-4,074.56
19734-3,969.85
19735-3,890.86
19736-3,937.95
19737-3,873.55
19738-3,950.83
19739-4,118.17
197310-3,835.95
197311-3,574.91
197312-3,635.69
19741-3,545.79
19742-3,708.00
19743-3,529.40
19744-3,433.90
19745-3,449.60
19746-3,058.18
19747-2,943.05
19748-2,648.34
19749-2,711.29
197410-2,812.79
197411-2,641.44
197412-2,869.47
19751-3,179.59
19752-3,337.73
19753-3,387.36
19754-3,614.74
19755-3,719.37
19756-3,735.44
19757-3,474.10
19758-3,444.48
19759-3,615.71
197510-3,689.53
197511-3,646.01
197512-3,994.03
19761-4,160.91
19762-4,194.30
19763-4,240.24
19764-4,223.99
19765-4,262.03
19766-4,375.63
19767-4,351.10
19768-4,457.17
19769-4,318.64
197610-4,302.80
197611-4,465.73
197612-4,441.73
19771-4,336.53
19772-4,334.18
19773-4,282.44
19774-4,285.20
19775-4,323.76
19776-4,379.21
19777-4,288.18
19778-4,237.78
19779-4,144.64
197710-4,185.31
197711-4,181.95
197712-4,040.17
19781-4,000.90
19782-4,011.53
19783-4,205.29
19784-4,436.76
19785-4,466.64
19786-4,463.86
19787-4,790.98
19788-4,810.13
19789-4,676.72
197810-4,422.41
197811-4,507.45
197812-4,696.10
19791-4,646.47
19792-4,755.25
19793-4,870.84
19794-4,778.64
19795-4,894.17
19796-4,963.70
19797-5,212.60
19798-5,292.90
19799-5,115.45
197910-5,098.96
197911-5,323.52
197912-5,499.86
19801-5,741.62
19802-5,237.63
19803-5,176.77
19804-5,437.48
19805-5,810.64
19806-6,099.39
19807-6,313.16
19808-6,492.19
19809-6,708.04
198010-7,017.59
198011-6,930.24
198012-6,930.93
19811-6,718.14
19812-6,996.49
19813-7,087.01
19814-6,972.39
19815-7,032.19
19816-6,890.40
19817-6,945.70
19818-6,369.02
19819-6,479.03
198110-6,676.24
198111-6,754.97
198112-6,430.46
19821-6,307.38
19822-6,134.28
19823-6,469.78
19824-6,506.63
19825-6,163.69
19826-6,178.72
19827-6,227.78
19828-6,981.12
19829-7,601.14
198210-7,943.18
198211-8,050.85
198212-8,366.91
19831-8,545.13
19832-8,875.45
19833-9,247.98
19834-9,657.12
19835-9,826.45
19836-9,896.04
19837-9,657.82
19838-9,977.87
19839-10,042.52
198310-9,927.89
198311-9,915.17
198312-10,071.42
19841-9,556.55
19842-9,598.83
19843-9,647.51
19844-9,623.15
19845-9,445.28
19846-9,359.48
19847-10,221.16
19848-10,364.97
19849-10,322.23
198410-10,454.96
198411-10,380.98
198412-10,868.64
19851-11,497.65
19852-11,442.65
19853-11,559.90
19854-11,876.14
19855-12,174.35
19856-12,447.93
19857-12,218.23
19858-11,987.92
19859-12,167.20
198510-12,948.40
198511-13,633.95
198512-13,736.45
19861-14,519.04
19862-15,416.72
19863-15,839.36
19864-15,917.26
19865-16,415.99
19866-16,119.86
19867-16,487.53
19868-16,082.56
19869-16,068.10
198610-16,635.78
198611-16,920.08
198612-18,049.22
19871-19,215.54
19872-20,056.49
19873-19,884.72
19874-19,919.09
19875-20,815.14
19876-21,465.00
19877-22,850.36
19878-22,157.90
19879-19,531.32
198710-17,128.30
198711-16,899.69
198712-17,617.35
19881-18,203.75
19882-18,792.11
19883-18,625.60
19884-18,218.03
19885-19,310.78
19886-19,251.51
19887-18,920.68
19888-19,285.31
19889-20,018.46
198810-19,614.04
198811-20,070.25
198812-20,775.25
19891-21,460.81
19892-21,426.11
19893-22,189.91
19894-23,103.09
19895-23,886.89
19896-24,555.77
19897-25,707.62
19898-25,824.73
19899-25,898.65
198910-25,428.97
198911-26,124.88
198912-25,547.20
19901-24,901.58
19902-25,575.71
19903-25,625.83
19904-26,612.66
19905-27,456.27
19906-27,502.87
19907-25,340.81
19908-24,240.75
19909-23,679.39
199010-24,385.94
199011-25,504.42
199012-25,329.68
19911-28,269.63
19912-29,130.34
19913-29,788.34
19914-29,735.06
19915-29,838.24
19916-30,071.12
19917-30,876.71
19918-30,783.12
19919-30,839.04
199110-30,843.91
199111-31,132.34
199112-33,423.07
19921-33,222.25
19922-32,885.91
19923-32,972.83
19924-33,654.82
19925-33,207.51
19926-33,842.48
19927-34,161.18
19928-34,290.38
19929-33,885.05
199210-34,819.22
199211-35,958.23
199212-36,009.61
19931-36,630.51
19932-37,418.12
19933-36,916.06
19934-37,183.60
19935-37,505.31
19936-37,528.19
19937-38,189.61
19938-38,707.07
19939-39,187.77
199310-39,190.73
199311-39,538.42
199312-40,224.76
19941-40,194.31
19942-39,622.02
19943-38,296.12
19944-38,701.38
19945-39,130.23
19946-38,927.19
19947-40,126.96
19948-40,454.98
19949-40,275.36
199410-40,126.39
199411-39,714.81
199412-40,688.29
19951-42,242.21
19952-43,322.84
19953-44,715.91
19954-46,212.89
19955-47,681.73
19956-49,373.23
19957-49,626.58
19958-51,471.52
19959-51,941.24
199510-53,166.21
199511-54,968.09
199512-55,057.45
19961-58,308.26
19962-58,191.24
19963-58,305.90
19964-59,678.90
19965-60,441.95
19966-58,340.65
19967-60,135.07
19968-61,352.03
19969-63,879.43
199610-67,106.67
199611-67,910.76
199612-70,122.98
19971-73,181.16
19972-72,724.74
19973-70,248.28
19974-76,723.65
19975-80,818.26
19976-85,453.93
19977-85,751.13
19978-86,773.29
19979-88,201.04
199710-87,184.93
199711-89,481.91
199712-89,694.07
19981-95,436.42
19982-100,506.84
19983-103,929.77
19984-103,699.20
19985-103,819.96
19986-108,458.29
19987-100,897.66
19988-95,955.23
19989-97,193.88
199810-107,860.31
199811-112,287.01
199812-117,954.91
19991-117,876.22
19992-121,322.34
19993-126,478.57
19994-126,353.57
19995-125,580.58
19996-131,259.82
19997-126,305.57
19998-125,550.24
19999-123,952.65
199910-132,760.66
199911-136,489.55
199912-136,327.22
20001-132,948.92
20002-138,188.38
20003-140,157.10
20004-136,178.33
20005-140,486.30
20006-141,680.92
20007-143,012.31
20008-141,468.28
20009-134,091.80
200010-133,055.85
200011-128,638.30
200012-129,223.61
20011-126,463.06
20012-114,980.34
20013-115,496.25
20014-123,441.62
20015-120,493.03
20016-117,287.64
20017-114,888.13
20018-101,966.28
20019-105,212.92
200110-110,529.49
200111-112,149.90
200112-111,816.04
20021-108,067.11
20022-113,411.32
20023-109,425.56
20024-106,339.35
20025-100,043.04
20026-89,279.91
20027-90,296.62
20028-86,000.55
20029-84,824.89
200210-90,445.03
200211-89,508.87
200212-89,309.69
20031-83,580.62
20032-84,673.77
20033-89,149.51
20034-93,885.32
20035-99,240.71
20036-99,832.09
20037-99,666.04
20038-102,816.67
20039-104,901.61
200310-106,171.54
200311-109,424.43
200312-114,824.49
20041-116,072.24
20042-114,255.48
20043-115,361.63
20044-112,403.47
20045-115,615.59
20046-113,027.22
20047-111,458.88
20048-114,560.37
20049-114,677.90
200410-120,152.50
200411-123,429.60
200412-121,764.26
20051-123,811.37
20052-123,494.92
20053-120,520.03
20054-122,130.02
20055-124,793.31
20056-127,049.31
20057-127,443.19
20058-127,799.63
20059-124,445.89
200510-129,375.87
200511-132,149.85
200512-134,088.19
20061-134,065.88
20062-136,058.28
20063-137,144.48
20064-136,065.65
20065-132,383.99
20066-133,337.21
20067-136,392.98
20068-139,845.32
20069-144,902.01
200610-147,802.43
200611-150,977.62
200612-152,023.63
20071-154,450.00
20072-150,629.08
20073-156,925.76
20074-162,248.30
20075-162,807.89
20076-163,743.42
20077-156,864.38
20078-161,687.56
20079-166,524.66
200710-158,520.97
200711-160,483.81
200712-149,835.39
20081-147,492.02
20082-143,617.94
20083-149,712.80
20084-153,549.35
20085-147,028.75
20086-138,091.65
20087-141,006.12
20088-134,170.80
20089-107,076.90
200810-97,862.56
200811-97,518.85
200812-96,450.48
20091-89,985.88
20092-84,867.99
20093-95,325.21
20094-101,673.70
20095-104,590.58
20096-105,926.87
20097-114,528.92
20098-118,709.62
20099-121,562.34
200910-124,108.25
200911-126,870.72
200912-128,592.32
20101-124,865.10
20102-132,285.88
20103-137,693.64
20104-129,593.95
20105-125,001.71
20106-124,802.86
20107-125,880.67
20108-130,124.31
20109-136,080.66
201010-139,470.32
201011-144,649.88
201012-149,657.93
20111-154,373.45
20112-152,656.11
20113-156,046.57
20114-157,075.29
20115-151,322.25
20116-156,015.86
20117-139,789.20
20118-138,685.93
20119-142,872.72
201110-145,397.46
201111-147,658.03
201112-154,719.86
20121-161,160.24
20122-165,807.84
20123-165,744.48
20124-160,621.40
20125-158,770.38
20126-163,408.20
20127-168,943.98
20128-174,048.06
20129-173,670.14
201210-168,742.26
201211-172,413.31
201212-179,773.22
20131-183,967.37
20132-188,975.80
20133-191,723.11
20134-200,493.05
20135-198,251.98
20136-204,704.05
20137-205,220.99
20138-207,668.18
20139-212,065.66
201310-220,251.38
201311-223,602.86
201312-225,766.90
20141-225,473.33
20142-231,611.32
20143-232,078.53
20144-235,634.06
20145-243,165.67
20146-246,803.00
20147-245,749.27
20148-250,118.77
20149-243,499.17
201410-257,392.39
201411-259,023.97
201412-256,148.68
20151-263,391.02
20152-263,536.85
20153-265,851.78
20154-268,454.21
20155-267,285.10
20156-267,072.26
20157-260,597.36
20158-248,851.99
20159-259,595.23
201510-267,207.78
201511-264,260.56
201512-247,296.03
20161-245,936.13
20162-261,584.37
20163-268,990.51
20164-268,171.79
20165-271,031.82
20166-279,968.93
20167-283,326.48
20168-282,083.60
20169-280,656.31
201610-284,027.45
201611-295,235.07
201612-299,479.47
20171-307,195.39
20172-312,569.03
20173-312,087.66
20174-317,369.35
20175-323,007.19
20176-326,198.12
20177-327,006.46
20178-332,412.74
20179-341,503.56
201710-346,931.99
201711-356,935.73
201712-374,289.58
20181-363,485.01
20182-363,719.75
20183-357,667.55
20184-364,683.63
20185-372,389.29
20186-378,275.80
20187-387,546.61
20188-394,056.41
20189-378,889.23
201810-371,023.08
201811-350,384.88
201812-356,466.29
20191-377,244.36
20192-384,593.16
20193-398,912.41
20194-392,801.92
20195-398,319.80
20196-413,564.86
20197-400,602.03
20198-412,961.51
20199-413,002.00
201910-431,313.23
201911-441,963.74
201912-456,753.60
20201-457,311.19
20202-370,798.39
20203-386,811.74
20204-409,584.76
20205-436,241.65
20206-451,407.31
20207-478,011.02
20208-475,013.88
20209-483,212.63
202010-502,319.42
202011-523,718.63
202012-538,358.13
20211-551,771.48
20212-556,303.50
20213-589,801.23
20214-594,285.09
20215-605,044.16
20216-623,608.14
20217-637,234.98
20218-636,696.53
20219-639,575.52
202110-669,921.74
202111-671,699.73
202112-657,916.77
20221-638,820.28
20222-633,118.27
20223-633,867.26
20224-583,964.60
20225-564,288.59
20226-566,910.76
20227-603,461.72
20228-559,545.38
20229-542,248.85
202210-570,907.21
202211-570,969.08
202212-578,828.22
20231-597,043.78
20232-581,607.65
20233-604,849.98
20234-609,311.93
20235-639,425.26
20236-664,209.65
20237-657,583.25
20238-651,312.69
20239-631,530.29
202310-660,591.57
202311-694,778.81
202312-715,009.64
20241-745,034.83
20242-769,487.77
20243-761,722.65
20244-780,008.90
20245-787,186.54
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 1937 to 2024
Start Value
Average monthly close
$17.59
End Value
Average monthly close
$5,283.40
Change in price+29,936.38%
+6.78% / yr
Change incl. dividends+615,681.14%
+10.50% / yr
Change incl. dividends, inflation-adjusted+28,133.44%
+6.67% / yr
Final amount, nominal
($100 base)
$615,781.14
Final amount, inflation-adjusted
($100 base)
$28,233.44