S&P 500: $100 in 1948 → $530,784.35 in 2026

$

Stock market returns since 1948

If you invested $100 in the S&P 500 at the beginning of 1948, you would have about $530,784.35 at the end of 2026, assuming you reinvested all dividends. This is a return on investment of 530,684.35%, or 11.62% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 39,366.32% cumulatively, or 7.97% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $482,997.26.

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 $530,684.35, or 530,684.35%. This means by 2026 you would have $530,784.35 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 1948 was 24.100 and the CPI in 2026 was 324.122.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 78 years.

Adjusted for inflation, the $530,784.35 nominal end value of the original $100 investment would have a real return of roughly $39,366.32 in 1948 dollars. This means the inflation-adjusted return is 39,366.32% as opposed to the original 530,684.35%.

For more information on inflation, see our U.S. inflation calculator for 1948.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 936-month period between 1948 and 2026.

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

YearMonthReturn (%)Amount ($)CPI
19481-4.45%95.5523.70
194821.92%97.3823.50
194838.19%105.3623.40
194845.33%110.9723.80
194854.59%116.0623.90
19486-1.96%113.7924.10
19487-2.49%110.9624.40
19488-0.68%110.2124.50
194893.19%113.7224.50
194810-5.10%107.9224.40
194811-0.16%107.7524.20
1948121.63%109.5124.10
19491-3.33%105.8624.00
194921.49%107.4423.80
194930.41%107.8923.80
19494-0.18%107.6923.90
19495-4.91%102.4023.80
194966.26%108.8123.90
194974.17%113.3523.70
194981.87%115.4723.80
194993.14%119.1023.90
1949101.95%121.4223.70
1949113.24%125.3523.80
1949122.63%128.6523.60
195012.52%131.9023.50
195021.38%133.7123.50
195033.39%138.2423.60
195043.91%143.6523.60
195052.16%146.7623.70
19506-6.72%136.8923.80
195076.64%145.9824.10
195084.11%151.9824.30
195094.72%159.1524.40
1950100.38%159.7524.60
1950110.19%160.0624.70
1950128.01%172.8925.00
195114.31%180.3425.40
19512-1.11%178.3325.70
195131.93%181.7625.80
195140.63%182.9125.80
19515-1.15%180.8125.90
195162.37%185.0925.90
195174.97%194.2825.90
195183.14%200.3725.90
195190.03%200.4326.10
195110-2.25%195.9126.20
1951113.61%202.9926.40
1951123.83%210.7826.50
19521-1.33%207.9726.50
195220.75%209.5326.30
195230.20%209.9526.30
195240.46%210.9226.40
195253.24%217.7626.40
195263.37%225.0926.50
195270.88%227.0826.70
19528-1.11%224.5626.70
19529-1.61%220.9426.70
1952103.67%229.0426.70
1952114.51%239.3726.70
1952120.99%241.7426.70
19531-0.77%239.8726.60
195320.96%242.1626.50
19533-4.47%231.3326.60
195341.00%233.6526.60
19535-3.11%226.3926.70
195361.91%230.7226.80
195370.90%232.8026.80
19538-4.11%223.2426.90
195393.52%231.0926.90
1953102.71%237.3527.00
1953111.84%241.7126.90
1953123.02%249.0126.90
195412.68%255.6826.90
195422.58%262.2826.90
195434.45%273.9526.90
195444.42%286.0726.80
195451.22%289.5726.90
195464.46%302.4826.90
195472.39%309.7226.90
195482.74%318.2026.90
195492.71%326.8326.80
1954104.30%340.8926.80
1954114.95%357.7826.80
1954122.17%365.5326.70
195513.70%379.0826.70
19552-0.44%377.4226.70
195533.81%391.7926.70
19554-0.08%391.4926.70
195556.15%415.5426.70
195567.64%447.3126.70
19557-0.30%445.9726.80
195584.82%467.4526.80
19559-4.72%445.3626.90
1955107.07%476.8326.90
1955111.24%482.7326.90
195512-2.39%471.2126.80
195610.95%475.6826.80
195627.21%509.9626.80
195631.48%517.5226.80
19564-2.84%502.8326.90
19565-0.26%501.5127.00
195665.75%530.3427.20
19567-0.28%528.8327.40
19568-3.09%512.5027.30
19569-0.95%507.6127.40
195610-0.71%503.9927.50
1956111.81%513.1127.50
195612-1.86%503.5527.60
19571-4.00%483.4327.60
195721.62%491.2727.70
195732.64%504.2627.80
195744.16%525.2327.90
195751.95%535.5028.00
195762.32%547.9328.10
19577-5.21%519.4128.30
19578-3.74%499.9928.30
19579-5.90%470.5128.30
195710-1.80%462.0428.30
1957110.32%463.5128.40
1957122.33%474.3028.40
195810.70%477.6328.60
195822.42%489.1828.60
195830.90%493.5728.80
195843.56%511.1328.90
195852.74%525.1128.90
195863.07%541.2328.90
195874.05%563.1829.00
195882.94%579.7528.90
195894.36%605.0328.90
1958103.33%625.1528.90
1958112.16%638.6729.00
1958124.25%665.8428.90
19591-1.27%657.4229.00
195922.81%675.8728.90
195931.94%688.9528.90
195941.77%701.1229.00
19595-0.61%696.8729.00
195964.23%726.3329.10
19597-0.32%724.0129.20
19598-3.70%697.2029.20
195990.18%698.4329.30
1959100.67%703.1129.40
1959113.46%727.4629.40
195912-1.49%716.6529.40
19601-3.61%690.7829.30
19602-1.08%683.3429.40
196031.58%694.1629.40
19604-0.62%689.8329.50
196053.99%717.3429.50
19606-2.20%701.5829.60
196071.49%712.0429.60
19608-2.72%692.6729.60
19609-1.67%681.0729.60
1960103.54%705.1929.80
1960112.69%724.1629.80
1960125.43%763.4629.80
196114.37%796.8629.80
196123.40%823.9329.80
196132.92%847.9829.80
196141.26%858.6929.80
19615-1.08%849.4229.80
19616-0.03%849.1829.80
196173.84%881.7830.00
19618-0.54%877.0029.90
196191.34%888.7830.00
1961104.77%931.1930.00
1961111.16%942.0230.00
196112-3.49%909.1830.00
196211.91%926.5430.00
196220.34%929.7030.10
19623-2.94%902.3230.10
19624-7.19%837.4830.20
19625-11.41%741.9030.20
196262.72%762.0630.20
196273.02%785.1030.30
19628-0.59%780.4430.30
19629-2.86%758.1530.40
1962107.20%812.7530.40
1962114.62%850.3230.40
1962124.15%885.5830.40
196311.60%899.7130.40
19632-0.11%898.7430.40
196334.98%943.4830.50
196342.27%964.8930.50
196350.22%966.9830.50
19636-1.22%955.1730.60
196373.03%984.1230.70
196382.89%1,012.6030.70
196390.50%1,017.6630.70
196310-0.31%1,014.5430.80
1963112.39%1,038.8230.80
1963123.33%1,073.4230.90
196411.48%1,089.3030.90
196422.07%1,111.8630.90
196431.69%1,130.6930.90
196441.22%1,144.4930.90
19645-0.35%1,140.4730.90
196463.96%1,185.6531.00
19647-1.23%1,171.1131.10
196481.97%1,194.1331.00
196491.97%1,217.6631.10
1964100.94%1,229.0731.10
196411-1.49%1,210.7531.20
1964122.82%1,244.9031.20
196510.98%1,257.0431.20
196520.34%1,261.2631.20
196531.56%1,280.9131.30
196541.73%1,303.1031.40
19655-4.51%1,244.3631.40
196560.10%1,245.6431.60
196572.12%1,272.0331.60
196583.60%1,317.7831.60
196592.50%1,350.6831.60
1965101.08%1,365.2131.70
196511-0.21%1,362.3231.70
1965121.98%1,389.3031.80
19661-0.43%1,383.3231.80
19662-3.86%1,329.9032.00
196633.32%1,374.0632.10
19664-5.01%1,305.2532.30
19665-0.56%1,297.9532.30
196660.02%1,298.1932.40
19667-5.77%1,223.2932.50
19668-3.22%1,183.8432.70
19669-0.56%1,177.1632.70
1966105.32%1,239.7432.90
1966110.72%1,248.6132.90
1966124.13%1,300.1832.90
196713.73%1,348.6832.90
196722.63%1,384.2032.90
196731.99%1,411.7833.00
196742.06%1,440.8333.10
19675-0.99%1,426.5433.20
196761.99%1,454.9633.30
196771.85%1,481.9033.40
196781.65%1,506.4133.50
196790.10%1,507.8833.60
196710-2.88%1,464.4333.70
1967113.11%1,510.0033.80
196712-0.02%1,509.7333.90
19681-4.26%1,445.4634.10
19682-1.56%1,422.9334.20
196837.66%1,531.9534.30
196842.56%1,571.1334.40
196852.94%1,617.3334.50
196860.05%1,618.1234.70
19687-1.93%1,586.8334.90
196883.51%1,642.4935.00
196892.72%1,687.1235.10
1968101.79%1,717.2535.30
1968111.29%1,739.3235.40
196812-3.99%1,670.0135.50
19691-0.24%1,666.0235.60
19692-1.91%1,634.1435.80
196932.27%1,671.3036.10
196943.51%1,730.0236.30
19695-4.97%1,644.0236.40
19696-4.21%1,574.8836.60
19697-0.28%1,570.4236.80
196980.63%1,580.2937.00
196991.35%1,601.5637.10
1969101.00%1,617.5437.30
196911-5.03%1,536.2237.50
196912-0.59%1,527.1737.70
19701-3.20%1,478.3637.80
197022.01%1,508.11-
19703-2.75%1,466.67-
19704-11.20%1,302.42-
19705-0.27%1,298.90-
197060.52%1,305.69-
197073.26%1,348.20-
197086.32%1,433.42-
197092.49%1,469.11-
1970100.21%1,472.14-
1970117.16%1,577.53-
1970124.11%1,642.37-
197114.15%1,710.55-
197122.83%1,758.99-
197133.67%1,823.61-
19714-1.11%1,803.41-
19715-1.60%1,774.63-
19716-0.46%1,766.41-
19717-1.52%1,739.61-
197182.49%1,782.87-
19719-1.86%1,749.64-
197110-4.37%1,673.16-
1971117.16%1,793.01-
1971124.42%1,872.31-
197212.09%1,911.38-
197222.62%1,961.46-
197231.26%1,986.15-
19724-0.78%1,970.74-
197250.52%1,980.91-
19726-0.50%1,970.93-
197273.78%2,045.50-
19728-1.21%2,020.74-
197290.42%2,029.18-
1972105.25%2,135.79-
1972112.31%2,185.16-
1972120.99%2,206.78-
19731-3.33%2,133.40-
19732-1.35%2,104.70-
19733-1.63%2,070.33-
19734-2.57%2,017.12-
19735-1.99%1,976.99-
197361.21%2,000.91-
19737-1.64%1,968.19-
197382.00%2,007.46-
197394.24%2,092.48-
197310-6.85%1,949.09-
197311-6.81%1,816.45-
1973121.70%1,847.34-
19741-2.47%1,801.65-
197424.57%1,884.07-
19743-4.82%1,793.32-
19744-2.71%1,744.80-
197450.46%1,752.78-
19746-11.35%1,553.89-
19747-3.76%1,495.39-
19748-10.01%1,345.65-
197492.38%1,377.64-
1974103.74%1,429.21-
197411-6.09%1,342.14-
1974128.63%1,458.01-
1975110.81%1,615.58-
197524.97%1,695.93-
197531.49%1,721.15-
197546.71%1,836.69-
197552.89%1,889.85-
197560.43%1,898.02-
19757-7.00%1,765.23-
19758-0.85%1,750.18-
197594.97%1,837.18-
1975102.04%1,874.69-
197511-1.18%1,852.58-
1975129.55%2,029.41-
197614.18%2,114.20-
197620.80%2,131.17-
197631.10%2,154.51-
19764-0.38%2,146.25-
197650.90%2,165.58-
197662.67%2,223.30-
19767-0.56%2,210.84-
197682.44%2,264.74-
19769-3.11%2,194.34-
197610-0.37%2,186.30-
1976113.79%2,269.08-
197612-0.54%2,256.89-
19771-2.37%2,203.44-
19772-0.05%2,202.24-
19773-1.19%2,175.95-
197740.06%2,177.36-
197750.90%2,196.95-
197761.28%2,225.12-
19777-2.08%2,178.87-
19778-1.18%2,153.26-
19779-2.20%2,105.94-
1977100.98%2,126.60-
197711-0.08%2,124.90-
197712-3.39%2,052.85-
19781-0.97%2,032.90-
197820.27%2,038.30-
197834.83%2,136.75-
197845.50%2,254.36-
197850.67%2,269.55-
19786-0.06%2,268.13-
197877.33%2,434.35-
197880.40%2,444.08-
19789-2.77%2,376.29-
197810-5.44%2,247.08-
1978111.92%2,290.28-
1978124.19%2,386.14-
19791-1.06%2,360.92-
197922.34%2,416.19-
197932.43%2,474.93-
19794-1.89%2,428.08-
197952.42%2,486.78-
197961.42%2,522.11-
197975.01%2,648.58-
197981.54%2,689.38-
19799-3.35%2,599.22-
197910-0.32%2,590.84-
1979114.40%2,704.94-
1979123.31%2,794.54-
198014.40%2,917.38-
19802-8.78%2,661.30-
19803-1.16%2,630.37-
198045.04%2,762.84-
198056.86%2,952.45-
198064.97%3,099.17-
198073.50%3,207.78-
198082.84%3,298.75-
198093.32%3,408.42-
1980104.61%3,565.71-
198011-1.24%3,521.33-
1980120.01%3,521.68-
19811-3.07%3,413.56-
198124.14%3,554.99-
198131.29%3,600.99-
19814-1.62%3,542.75-
198150.86%3,573.13-
19816-2.02%3,501.09-
198170.80%3,529.19-
19818-8.30%3,236.17-
198191.73%3,292.06-
1981103.04%3,392.27-
1981111.18%3,432.27-
198112-4.80%3,267.38-
19821-1.91%3,204.85-
19822-2.74%3,116.89-
198235.47%3,287.36-
198240.57%3,306.09-
19825-5.27%3,131.84-
198260.24%3,139.48-
198270.79%3,164.40-
1982812.10%3,547.18-
198298.88%3,862.22-
1982104.50%4,036.02-
1982111.36%4,090.72-
1982123.93%4,251.32-
198312.13%4,341.87-
198323.87%4,509.71-
198334.20%4,699.00-
198344.42%4,906.88-
198351.75%4,992.93-
198360.71%5,028.28-
19837-2.41%4,907.24-
198383.31%5,069.86-
198390.65%5,102.71-
198310-1.14%5,044.47-
198311-0.13%5,038.00-
1983121.58%5,117.40-
19841-5.11%4,855.79-
198420.44%4,877.27-
198430.51%4,902.00-
19844-0.25%4,889.62-
19845-1.85%4,799.25-
19846-0.91%4,755.65-
198479.21%5,193.48-
198481.41%5,266.55-
19849-0.41%5,244.83-
1984101.29%5,312.28-
198411-0.71%5,274.69-
1984124.70%5,522.47-
198515.79%5,842.08-
19852-0.48%5,814.13-
198531.02%5,873.71-
198542.74%6,034.39-
198552.51%6,185.92-
198562.25%6,324.93-
19857-1.85%6,208.21-
19858-1.88%6,091.19-
198591.50%6,182.29-
1985106.42%6,579.22-
1985115.29%6,927.56-
1985120.75%6,979.63-
198615.70%7,377.28-
198626.18%7,833.40-
198632.74%8,048.15-
198640.49%8,087.73-
198653.13%8,341.14-
19866-1.80%8,190.67-
198672.28%8,377.49-
19868-2.46%8,171.72-
19869-0.09%8,164.37-
1986103.53%8,452.82-
1986111.71%8,597.27-
1986126.67%9,171.00-
198716.46%9,763.62-
198724.38%10,190.91-
19873-0.86%10,103.64-
198740.17%10,121.10-
198754.50%10,576.39-
198763.12%10,906.60-
198776.45%11,610.51-
19878-3.03%11,258.66-
19879-11.85%9,924.07-
198710-12.30%8,703.07-
198711-1.33%8,586.91-
1987124.25%8,951.56-
198813.33%9,249.52-
198823.23%9,548.47-
19883-0.89%9,463.87-
19884-2.19%9,256.77-
198856.00%9,812.01-
19886-0.31%9,781.90-
19887-1.72%9,613.80-
198881.93%9,799.07-
198893.80%10,171.59-
198810-2.02%9,966.10-
1988112.33%10,197.91-
1988123.51%10,556.13-
198913.30%10,904.46-
19892-0.16%10,886.84-
198933.56%11,274.93-
198944.12%11,738.93-
198953.39%12,137.19-
198962.80%12,477.05-
198974.69%13,062.32-
198980.46%13,121.82-
198990.29%13,159.38-
198910-1.81%12,920.73-
1989112.74%13,274.33-
198912-2.21%12,980.81-
19901-2.53%12,652.76-
199022.71%12,995.29-
199030.20%13,020.76-
199043.85%13,522.18-
199053.17%13,950.82-
199060.17%13,974.50-
19907-7.86%12,875.93-
19908-4.34%12,316.98-
19909-2.32%12,031.75-
1990102.98%12,390.75-
1990114.59%12,959.07-
199012-0.69%12,870.28-
1991111.61%14,364.10-
199123.04%14,801.43-
199132.26%15,135.77-
19914-0.18%15,108.70-
199150.35%15,161.13-
199160.78%15,279.46-
199172.68%15,688.78-
19918-0.30%15,641.23-
199190.18%15,669.64-
1991100.02%15,672.12-
1991110.94%15,818.67-
1991127.36%16,982.62-
19921-0.60%16,880.58-
19922-1.01%16,709.68-
199230.26%16,753.85-
199242.07%17,100.37-
19925-1.33%16,873.09-
199261.91%17,195.73-
199270.94%17,357.66-
199280.38%17,423.31-
19929-1.18%17,217.35-
1992102.76%17,692.02-
1992113.27%18,270.76-
1992120.14%18,296.87-
199311.72%18,612.35-
199322.15%19,012.54-
19933-1.34%18,757.44-
199340.72%18,893.38-
199350.87%19,056.85-
199360.06%19,068.47-
199371.76%19,404.55-
199381.35%19,667.47-
199391.24%19,911.73-
1993100.01%19,913.23-
1993110.89%20,089.89-
1993121.74%20,438.63-
19941-0.08%20,423.16-
19942-1.42%20,132.37-
19943-3.35%19,458.66-
199441.06%19,664.58-
199451.11%19,882.49-
19946-0.52%19,779.32-
199473.08%20,388.93-
199480.82%20,555.61-
19949-0.44%20,464.34-
199410-0.37%20,388.64-
199411-1.03%20,179.52-
1994122.45%20,674.15-
199513.82%21,463.72-
199522.56%22,012.80-
199533.22%22,720.63-
199543.35%23,481.26-
199553.18%24,227.59-
199563.55%25,087.06-
199570.51%25,215.79-
199583.72%26,153.23-
199590.91%26,391.90-
1995102.36%27,014.32-
1995113.39%27,929.87-
1995120.16%27,975.28-
199615.90%29,627.05-
19962-0.20%29,567.59-
199630.20%29,625.85-
199642.35%30,323.49-
199651.28%30,711.20-
19966-3.48%29,643.51-
199673.08%30,555.27-
199682.02%31,173.62-
199694.12%32,457.82-
1996105.05%34,097.61-
1996111.20%34,506.18-
1996123.26%35,630.23-
199714.36%37,184.13-
19972-0.62%36,952.21-
19973-3.41%35,693.90-
199749.22%38,984.10-
199755.34%41,064.62-
199765.74%43,420.05-
199770.35%43,571.06-
199781.19%44,090.43-
199791.65%44,815.89-
199710-1.15%44,299.59-
1997112.63%45,466.71-
1997120.24%45,574.51-
199816.40%48,492.26-
199825.31%51,068.59-
199833.41%52,807.82-
19984-0.22%52,690.67-
199850.12%52,752.03-
199864.47%55,108.81-
19987-6.97%51,267.17-
19988-4.90%48,755.88-
199891.29%49,385.24-
19981010.97%54,804.97-
1998114.10%57,054.23-
1998125.05%59,934.14-
19991-0.07%59,894.16-
199922.92%61,645.17-
199934.25%64,265.11-
19994-0.10%64,201.59-
19995-0.61%63,808.83-
199964.52%66,694.51-
19997-3.77%64,177.20-
19998-0.60%63,793.41-
19999-1.27%62,981.66-
1999107.11%67,457.10-
1999112.81%69,351.79-
199912-0.12%69,269.31-
20001-2.48%67,552.76-
200023.94%70,214.99-
200031.42%71,215.32-
20004-2.84%69,193.66-
200053.16%71,382.59-
200060.85%71,989.58-
200070.94%72,666.08-
20008-1.08%71,881.54-
20009-5.21%68,133.47-
200010-0.77%67,607.09-
200011-3.32%65,362.49-
2000120.46%65,659.89-
20011-2.14%64,257.23-
20012-9.08%58,422.73-
200130.45%58,684.87-
200146.88%62,722.00-
20015-2.39%61,223.79-
20016-2.66%59,595.10-
20017-2.05%58,375.88-
20018-11.25%51,810.15-
200193.18%53,459.81-
2001105.05%56,161.21-
2001111.47%56,984.56-
200112-0.30%56,814.92-
20021-3.35%54,910.05-
200224.95%57,625.50-
20023-3.51%55,600.29-
20024-2.82%54,032.16-
20025-5.92%50,832.93-
20026-10.76%45,364.07-
200271.14%45,880.68-
20028-4.76%43,697.80-
20029-1.37%43,100.43-
2002106.63%45,956.08-
200211-1.04%45,480.41-
200212-0.22%45,379.21-
20031-6.41%42,468.20-
200321.31%43,023.65-
200335.29%45,297.81-
200345.31%47,704.13-
200355.70%50,425.26-
200360.60%50,725.75-
20037-0.17%50,641.38-
200383.16%52,242.24-
200392.03%53,301.63-
2003101.21%53,946.89-
2003113.06%55,599.72-
2003124.93%58,343.54-
200411.09%58,977.54-
20042-1.57%58,054.43-
200430.97%58,616.47-
20044-2.56%57,113.40-
200452.86%58,745.51-
20046-2.24%57,430.33-
20047-1.39%56,633.45-
200482.78%58,209.34-
200490.10%58,269.06-
2004104.77%61,050.77-
2004112.73%62,715.89-
200412-1.35%61,869.72-
200511.68%62,909.87-
20052-0.26%62,749.08-
20053-2.41%61,237.51-
200541.34%62,055.56-
200552.18%63,408.81-
200561.81%64,555.11-
200570.31%64,755.24-
200580.28%64,936.35-
20059-2.62%63,232.28-
2005103.96%65,737.25-
2005112.14%67,146.75-
2005121.47%68,131.64-
20061-0.02%68,120.30-
200621.49%69,132.66-
200630.80%69,684.57-
20064-0.79%69,136.40-
20065-2.71%67,265.72-
200660.72%67,750.06-
200672.29%69,302.73-
200682.53%71,056.90-
200693.62%73,626.25-
2006102.00%75,099.99-
2006112.15%76,713.33-
2006120.69%77,244.83-
200711.60%78,477.69-
20072-2.47%76,536.24-
200734.18%79,735.65-
200743.39%82,440.09-
200750.34%82,724.42-
200760.57%83,199.78-
20077-4.20%79,704.46-
200783.07%82,155.17-
200792.99%84,612.95-
200710-4.81%80,546.19-
2007111.24%81,543.53-
200712-6.64%76,132.96-
20081-1.56%74,942.26-
20082-2.63%72,973.80-
200834.24%76,070.67-
200842.56%78,020.06-
20085-4.25%74,706.87-
20086-6.08%70,165.84-
200872.11%71,646.71-
20088-4.85%68,173.61-
20089-20.19%54,406.91-
200810-8.61%49,725.01-
200811-0.35%49,550.37-
200812-1.10%49,007.51-
20091-6.70%45,722.78-
20092-5.69%43,122.33-
2009312.32%48,435.75-
200946.66%51,661.49-
200952.87%53,143.59-
200961.28%53,822.57-
200978.12%58,193.36-
200983.65%60,317.62-
200992.40%61,767.12-
2009102.09%63,060.72-
2009112.23%64,464.37-
2009121.36%65,339.13-
20101-2.90%63,445.29-
201025.94%67,215.87-
201034.09%69,963.60-
20104-5.88%65,848.07-
20105-3.54%63,514.70-
20106-0.16%63,413.66-
201070.86%63,961.31-
201083.37%66,117.55-
201094.58%69,144.03-
2010102.49%70,866.35-
2010113.71%73,498.14-
2010123.46%76,042.79-
201113.15%78,438.79-
20112-1.11%77,566.19-
201132.22%79,288.93-
201140.66%79,811.63-
20115-3.66%76,888.45-
201163.10%79,273.32-
20117-10.40%71,028.38-
20118-0.79%70,467.80-
201193.02%72,595.15-
2011101.77%73,878.00-
2011111.55%75,026.62-
2011124.78%78,614.81-
201214.16%81,887.23-
201222.88%84,248.73-
20123-0.04%84,216.54-
20124-3.09%81,613.44-
20125-1.15%80,672.92-
201262.92%83,029.45-
201273.39%85,842.24-
201283.02%88,435.67-
20129-0.22%88,243.65-
201210-2.84%85,739.74-
2012112.18%87,605.04-
2012124.27%91,344.69-
201312.33%93,475.78-
201322.72%96,020.62-
201331.45%97,416.56-
201344.57%101,872.65-
20135-1.12%100,733.94-
201363.25%104,012.31-
201370.25%104,274.97-
201381.19%105,518.41-
201392.12%107,752.82-
2013103.86%111,912.07-
2013111.52%113,614.99-
2013120.97%114,714.57-
20141-0.13%114,565.40-
201422.72%117,684.18-
201430.20%117,921.57-
201441.53%119,728.17-
201453.20%123,555.07-
201461.50%125,403.23-
20147-0.43%124,867.82-
201481.78%127,088.01-
20149-2.65%123,724.52-
2014105.71%130,783.81-
2014110.63%131,612.83-
201412-1.11%130,151.87-
201512.83%133,831.78-
201520.06%133,905.88-
201530.88%135,082.12-
201540.98%136,404.44-
20155-0.44%135,810.40-
20156-0.08%135,702.26-
20157-2.42%132,412.29-
20158-4.51%126,444.35-
201594.32%131,903.10-
2015102.93%135,771.12-
201511-1.10%134,273.60-
201512-6.42%125,653.75-
20161-0.55%124,962.76-
201626.36%132,913.80-
201632.83%136,676.94-
20164-0.30%136,260.94-
201651.07%137,714.15-
201663.30%142,255.19-
201671.20%143,961.20-
20168-0.44%143,329.68-
20169-0.51%142,604.46-
2016101.20%144,317.37-
2016113.95%150,012.08-
2016121.44%152,168.71-
201712.58%156,089.25-
201721.75%158,819.65-
20173-0.15%158,575.06-
201741.69%161,258.75-
201751.78%164,123.39-
201760.99%165,744.74-
201770.25%166,155.46-
201781.65%168,902.45-
201792.73%173,521.59-
2017101.59%176,279.84-
2017112.88%181,362.84-
2017124.86%190,180.52-
20181-2.89%184,690.61-
201820.06%184,809.88-
20183-1.66%181,734.69-
201841.96%185,299.64-
201852.11%189,214.96-
201861.58%192,205.96-
201872.45%196,916.56-
201881.68%200,224.26-
20189-3.85%192,517.65-
201810-2.08%188,520.78-
201811-5.56%178,034.29-
2018121.74%181,124.32-
201915.83%191,681.87-
201921.95%195,415.88-
201933.72%202,691.64-
20194-1.53%199,586.84-
201951.40%202,390.53-
201963.83%210,136.71-
20197-3.13%203,550.16-
201983.09%209,830.14-
201990.01%209,850.71-
2019104.43%219,154.85-
2019112.47%224,566.48-
2019123.35%232,081.37-
202010.12%232,364.68-
20202-18.92%188,406.61-
202034.32%196,543.16-
202045.89%208,114.38-
202056.51%221,659.03-
202063.48%229,364.86-
202075.89%242,882.49-
20208-0.63%241,359.61-
202091.73%245,525.48-
2020103.95%255,233.84-
2020114.26%266,107.01-
2020122.80%273,545.50-
202112.49%280,360.96-
202120.82%282,663.73-
202136.02%299,684.29-
202140.76%301,962.58-
202151.81%307,429.38-
202163.07%316,861.93-
202172.19%323,785.88-
20218-0.08%323,512.28-
202190.45%324,975.13-
2021104.74%340,394.37-
2021110.27%341,297.79-
202112-2.05%334,294.52-
20221-2.90%324,591.38-
20222-0.89%321,694.14-
202230.12%322,074.71-
20224-7.87%296,718.63-
20225-3.37%286,721.04-
202260.46%288,053.39-
202276.45%306,625.33-
20228-7.28%284,310.96-
20229-3.09%275,522.41-
2022105.29%290,084.03-
2022110.01%290,115.47-
2022121.38%294,108.78-
202313.15%303,364.30-
20232-2.59%295,521.04-
202334.00%307,330.71-
202340.74%309,597.88-
202354.94%324,898.78-
202363.88%337,492.00-
20237-1.00%334,125.05-
20238-0.95%330,938.91-
20239-3.04%320,887.26-
2023104.60%335,653.61-
2023115.18%353,024.51-
2023122.91%363,304.01-
202414.20%378,560.13-
202423.28%390,984.93-
20243-1.01%387,039.39-
202442.52%396,780.06-
202453.55%410,868.07-
202462.38%420,645.34-
20247-0.97%416,562.51-
202482.72%427,901.80-
202493.15%441,388.78-
2024102.48%452,343.10-
2024111.47%458,994.00-
202412-0.42%457,073.00-
202511.09%462,075.75-
20252-5.77%435,416.64-
20253-5.42%411,811.67-
202548.34%446,155.75-
202553.88%463,465.11-
202564.53%484,447.45-
202571.89%493,597.72-
202582.83%507,582.24-
202592.40%519,779.42-
2025100.17%520,685.85-
2025111.76%529,854.91-
2025120.18%530,784.35-
Click to show 930 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 1948. This would result in a final amount of $482,997.26, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $530,784.35).

YearMonthContribution ($)Amount ($)
194814.163.96
194824.168.25
194834.1613.41
194844.1618.48
194854.1623.66
194864.1627.26
194874.1630.62
194884.1634.53
194894.1639.90
1948104.1641.79
1948114.1645.86
1948124.1650.81
194914.1653.12
194924.1658.12
194934.1662.51
194944.1666.53
194954.1667.19
194964.1675.79
194974.1683.26
194984.1689.04
194994.1696.10
1949104.16102.19
1949114.16109.77
1949124.32117.07
19501-120.02
19502-121.67
19503-125.79
19504-130.72
19505-133.55
19506-124.57
19507-132.84
19508-138.29
19509-144.82
195010-145.37
195011-145.65
195012-157.32
19511-164.10
19512-162.27
19513-165.40
19514-166.44
19515-164.53
19516-168.43
19517-176.79
19518-182.33
19519-182.39
195110-178.28
195111-184.72
195112-191.80
19521-189.24
19522-190.66
19523-191.05
19524-191.93
19525-198.16
19526-204.83
19527-206.63
19528-204.34
19529-201.05
195210-208.42
195211-217.82
195212-219.97
19531-218.27
19532-220.36
19533-210.51
19534-212.62
19535-206.01
19536-209.95
19537-211.84
19538-203.14
19539-210.28
195310-215.98
195311-219.94
195312-226.60
19541-232.66
19542-238.67
19543-249.29
19544-260.31
19545-263.50
19546-275.24
19547-281.83
19548-289.56
19549-297.40
195410-310.20
195411-325.56
195412-332.62
19551-344.95
19552-343.44
19553-356.52
19554-356.24
19555-378.13
19556-407.04
19557-405.82
19558-425.36
19559-405.27
195510-433.90
195511-439.27
195512-428.78
19561-432.85
19562-464.04
19563-470.93
19564-457.56
19565-456.36
19566-482.59
19567-481.22
19568-466.36
19569-461.91
195610-458.62
195611-466.91
195612-458.22
19571-439.91
19572-447.04
19573-458.86
19574-477.95
19575-487.29
19576-498.60
19577-472.65
19578-454.97
19579-428.15
195710-420.44
195711-421.78
195712-431.60
19581-434.63
19582-445.14
19583-449.13
19584-465.11
19585-477.83
19586-492.50
19587-512.47
19588-527.56
19589-550.55
195810-568.87
195811-581.17
195812-605.90
19591-598.23
19592-615.02
19593-626.93
19594-638.00
19595-634.13
19596-660.94
19597-658.83
19598-634.43
19599-635.55
195910-639.81
195911-661.96
195912-652.13
19601-628.59
19602-621.81
19603-631.67
19604-627.72
19605-652.75
19606-638.42
19607-647.94
19608-630.31
19609-619.76
196010-641.70
196011-658.97
196012-694.73
19611-725.12
19612-749.75
19613-771.64
19614-781.38
19615-772.94
19616-772.73
19617-802.39
19618-798.05
19619-808.76
196110-847.36
196111-857.21
196112-827.32
19621-843.12
19622-845.99
19623-821.08
19624-762.08
19625-675.11
19626-693.45
19627-714.42
19628-710.18
19629-689.89
196210-739.57
196211-773.77
196212-805.85
19631-818.71
19632-817.83
19633-858.54
19634-878.02
19635-879.93
19636-869.17
19637-895.52
19638-921.43
19639-926.04
196310-923.20
196311-945.30
196312-976.78
19641-991.23
19642-1,011.76
19643-1,028.89
19644-1,041.45
19645-1,037.79
19646-1,078.90
19647-1,065.68
19648-1,086.62
19649-1,108.03
196410-1,118.41
196411-1,101.75
196412-1,132.82
19651-1,143.87
19652-1,147.71
19653-1,165.58
19654-1,185.78
19655-1,132.33
19656-1,133.50
19657-1,157.51
19658-1,199.14
19659-1,229.08
196510-1,242.30
196511-1,239.67
196512-1,264.22
19661-1,258.78
19662-1,210.16
19663-1,250.35
19664-1,187.74
19665-1,181.10
19666-1,181.31
19667-1,113.16
19668-1,077.26
19669-1,071.18
196610-1,128.12
196611-1,136.20
196612-1,183.13
19671-1,227.26
19672-1,259.58
19673-1,284.68
19674-1,311.11
19675-1,298.11
19676-1,323.97
19677-1,348.49
19678-1,370.79
19679-1,372.13
196710-1,332.58
196711-1,374.05
196712-1,373.81
19681-1,315.33
19682-1,294.82
19683-1,394.02
19684-1,429.68
19685-1,471.72
19686-1,472.44
19687-1,443.97
19688-1,494.62
19689-1,535.23
196810-1,562.64
196811-1,582.73
196812-1,519.65
19691-1,516.03
19692-1,487.01
19693-1,520.83
19694-1,574.27
19695-1,496.01
19696-1,433.09
19697-1,429.03
19698-1,438.01
19699-1,457.37
196910-1,471.91
196911-1,397.91
196912-1,389.68
19701-1,345.26
19702-1,372.33
19703-1,334.62
19704-1,185.16
19705-1,181.96
19706-1,188.14
19707-1,226.82
19708-1,304.37
19709-1,336.84
197010-1,339.61
197011-1,435.50
197012-1,494.51
19711-1,556.55
19712-1,600.63
19713-1,659.43
19714-1,641.05
19715-1,614.86
19716-1,607.38
19717-1,583.00
19718-1,622.35
19719-1,592.12
197110-1,522.52
197111-1,631.59
197112-1,703.74
19721-1,739.30
19722-1,784.86
19723-1,807.33
19724-1,793.31
19725-1,802.57
19726-1,793.48
19727-1,861.34
19728-1,838.81
19729-1,846.49
197210-1,943.51
197211-1,988.43
197212-2,008.10
19731-1,941.33
19732-1,915.21
19733-1,883.93
19734-1,835.52
19735-1,799.00
19736-1,820.77
19737-1,790.99
19738-1,826.73
19739-1,904.10
197310-1,773.61
197311-1,652.91
197312-1,681.02
19741-1,639.45
19742-1,714.45
19743-1,631.87
19744-1,587.72
19745-1,594.97
19746-1,414.00
19747-1,360.76
19748-1,224.50
19749-1,253.61
197410-1,300.53
197411-1,221.31
197412-1,326.74
19751-1,470.13
19752-1,543.25
19753-1,566.20
19754-1,671.33
19755-1,719.71
19756-1,727.14
19757-1,606.30
19758-1,592.61
19759-1,671.78
197510-1,705.91
197511-1,685.79
197512-1,846.70
19761-1,923.86
19762-1,939.30
19763-1,960.54
19764-1,953.03
19765-1,970.61
19766-2,023.14
19767-2,011.80
19768-2,060.84
19769-1,996.79
197610-1,989.46
197611-2,064.80
197612-2,053.70
19771-2,005.06
19772-2,003.97
19773-1,980.05
19774-1,981.33
19775-1,999.16
19776-2,024.79
19777-1,982.71
19778-1,959.40
19779-1,916.34
197710-1,935.14
197711-1,933.59
197712-1,868.03
19781-1,849.88
19782-1,854.79
19783-1,944.38
19784-2,051.40
19785-2,065.22
19786-2,063.93
19787-2,215.18
19788-2,224.03
19789-2,162.35
197810-2,044.77
197811-2,084.09
197812-2,171.31
19791-2,148.36
19792-2,198.66
19793-2,252.11
19794-2,209.47
19795-2,262.89
19796-2,295.04
19797-2,410.12
19798-2,447.25
19799-2,365.21
197910-2,357.58
197911-2,461.41
197912-2,542.94
19801-2,654.72
19802-2,421.70
19803-2,393.56
19804-2,514.10
19805-2,686.63
19806-2,820.14
19807-2,918.98
19808-3,001.76
19809-3,101.56
198010-3,244.69
198011-3,204.30
198012-3,204.62
19811-3,106.23
19812-3,234.93
19813-3,276.79
19814-3,223.79
19815-3,251.44
19816-3,185.88
19817-3,211.45
19818-2,944.81
19819-2,995.68
198110-3,086.86
198111-3,123.26
198112-2,973.22
19821-2,916.31
19822-2,836.27
19823-2,991.40
19824-3,008.44
19825-2,849.88
19826-2,856.82
19827-2,879.51
19828-3,227.82
19829-3,514.50
198210-3,672.65
198211-3,722.43
198212-3,868.56
19831-3,950.97
19832-4,103.69
19833-4,275.94
19834-4,465.11
19835-4,543.41
19836-4,575.58
19837-4,465.44
19838-4,613.41
19839-4,643.31
198310-4,590.31
198311-4,584.43
198312-4,656.67
19841-4,418.62
19842-4,438.16
19843-4,460.67
19844-4,449.41
19845-4,367.17
19846-4,327.49
19847-4,725.91
19848-4,792.40
19849-4,772.63
198410-4,834.01
198411-4,799.80
198412-5,025.28
19851-5,316.11
19852-5,290.68
19853-5,344.89
19854-5,491.11
19855-5,628.99
19856-5,755.49
19857-5,649.28
19858-5,542.79
19859-5,625.69
198510-5,986.89
198511-6,303.86
198512-6,351.25
19861-6,713.10
19862-7,128.15
19863-7,323.56
19864-7,359.58
19865-7,590.18
19866-7,453.26
19867-7,623.26
19868-7,436.01
19869-7,429.33
198610-7,691.80
198611-7,823.25
198612-8,345.32
19871-8,884.59
19872-9,273.41
19873-9,194.00
19874-9,209.89
19875-9,624.19
19876-9,924.66
19877-10,565.20
19878-10,245.03
19879-9,030.60
198710-7,919.53
198711-7,813.82
198712-8,145.64
19881-8,416.78
19882-8,688.81
19883-8,611.83
19884-8,423.38
19885-8,928.63
19886-8,901.22
19887-8,748.26
19888-8,916.85
19889-9,255.83
198810-9,068.84
198811-9,279.78
198812-9,605.75
19891-9,922.72
19892-9,906.68
19893-10,259.84
19894-10,682.06
19895-11,044.46
19896-11,353.73
19897-11,886.30
19898-11,940.45
19899-11,974.63
198910-11,757.46
198911-12,079.23
198912-11,812.13
19901-11,513.62
19902-11,825.31
19903-11,848.48
19904-12,304.76
19905-12,694.82
19906-12,716.36
19907-11,716.70
19908-11,208.07
19909-10,948.52
199010-11,275.20
199011-11,792.35
199012-11,711.55
19911-13,070.89
19912-13,468.85
19913-13,773.08
19914-13,748.45
19915-13,796.15
19916-13,903.83
19917-14,276.31
19918-14,233.03
19919-14,258.89
199110-14,261.14
199111-14,394.50
199112-15,453.65
19921-15,360.80
19922-15,205.29
19923-15,245.48
19924-15,560.81
19925-15,353.99
19926-15,647.58
19927-15,794.93
19928-15,854.67
19929-15,667.26
199210-16,099.19
199211-16,625.82
199212-16,649.58
19931-16,936.66
19932-17,300.82
19933-17,068.69
19934-17,192.39
19935-17,341.14
19936-17,351.72
19937-17,657.53
19938-17,896.79
19939-18,119.05
199310-18,120.42
199311-18,281.18
199312-18,598.52
19941-18,584.44
19942-18,319.83
19943-17,706.78
19944-17,894.16
19945-18,092.44
19946-17,998.57
19947-18,553.30
19948-18,704.96
19949-18,621.91
199410-18,553.03
199411-18,362.73
199412-18,812.84
19951-19,531.32
19952-20,030.96
19953-20,675.07
19954-21,367.22
19955-22,046.36
19956-22,828.45
19957-22,945.59
19958-23,798.63
19959-24,015.80
199510-24,582.19
199511-25,415.31
199512-25,456.63
19961-26,959.69
19962-26,905.59
19963-26,958.60
19964-27,593.43
19965-27,946.24
19966-26,974.67
19967-27,804.34
19968-28,367.03
19969-29,535.61
199610-31,027.77
199611-31,399.55
199612-32,422.40
19971-33,836.40
19972-33,625.37
19973-32,480.34
19974-35,474.32
19975-37,367.53
19976-39,510.90
19977-39,648.31
19978-40,120.92
19979-40,781.06
199710-40,311.25
199711-41,373.30
199712-41,471.39
19981-44,126.45
19982-46,470.83
19983-48,053.48
19984-47,946.87
19985-48,002.71
19986-50,147.31
19987-46,651.53
19988-44,366.33
19989-44,939.04
199810-49,870.82
199811-51,917.57
199812-54,538.21
19991-54,501.82
19992-56,095.19
19993-58,479.25
19994-58,421.45
19995-58,064.05
19996-60,689.93
19997-58,399.26
19998-58,050.02
19999-57,311.35
199910-61,383.87
199911-63,107.97
199912-63,032.92
20001-61,470.91
20002-63,893.45
20003-64,803.72
20004-62,964.08
20005-64,955.93
20006-65,508.28
20007-66,123.87
20008-65,409.96
20009-61,999.34
200010-61,520.35
200011-59,477.83
200012-59,748.46
20011-58,472.08
20012-53,162.87
20013-53,401.41
20014-57,075.07
20015-55,711.75
20016-54,229.69
20017-53,120.24
20018-47,145.63
20019-48,646.76
200110-51,104.95
200111-51,854.18
200112-51,699.81
20021-49,966.44
20022-52,437.41
20023-50,594.54
20024-49,167.58
20025-46,256.39
20026-41,279.90
20027-41,749.99
20028-39,763.64
20029-39,220.05
200210-41,818.61
200211-41,385.76
200212-41,293.67
20031-38,644.75
20032-39,150.18
20033-41,219.60
20034-43,409.28
20035-45,885.42
20036-46,158.85
20037-46,082.08
20038-47,538.82
20039-48,502.82
200310-49,089.99
200311-50,594.02
200312-53,090.81
20041-53,667.73
20042-52,827.72
20043-53,339.17
20044-51,971.42
20045-53,456.59
20046-52,259.82
20047-51,534.67
20048-52,968.69
20049-53,023.03
200410-55,554.30
200411-57,069.51
200412-56,299.52
20051-57,246.03
20052-57,099.72
20053-55,724.23
20054-56,468.63
20055-57,700.04
20056-58,743.14
20057-58,925.25
20058-59,090.06
20059-57,539.41
200510-59,818.86
200511-61,101.45
200512-61,997.67
20061-61,987.35
20062-62,908.57
20063-63,410.79
20064-62,911.98
20065-61,209.71
20066-61,650.45
20067-63,063.33
20068-64,659.57
20069-66,997.60
200610-68,338.65
200611-69,806.75
200612-70,290.39
20071-71,412.26
20072-69,645.60
20073-72,556.96
20074-75,017.92
20075-75,276.65
20076-75,709.21
20077-72,528.58
20078-74,758.65
20079-76,995.15
200710-73,294.53
200711-74,202.08
200712-69,278.62
20081-68,195.13
20082-66,403.89
20083-69,221.94
20084-70,995.83
20085-67,980.93
20086-63,848.73
20087-65,196.28
20088-62,035.86
20089-49,508.60
200810-45,248.21
200811-45,089.29
200812-44,595.31
20091-41,606.31
20092-39,239.98
20093-44,075.03
20094-47,010.35
20095-48,359.01
20096-48,976.87
20097-52,954.15
20098-54,887.16
20099-56,206.16
200910-57,383.30
200911-58,660.57
200912-59,456.57
20101-57,733.24
20102-61,164.35
20103-63,664.70
20104-59,919.69
20105-57,796.40
20106-57,704.46
20107-58,202.80
20108-60,164.91
20109-62,918.92
201010-64,486.18
201011-66,881.02
201012-69,196.57
20111-71,376.86
20112-70,582.82
20113-72,150.46
20114-72,626.10
20115-69,966.09
20116-72,136.26
20117-64,633.62
20118-64,123.50
20119-66,059.33
201110-67,226.68
201111-68,271.89
201112-71,537.03
20121-74,514.84
20122-76,663.72
20123-76,634.43
20124-74,265.70
20125-73,409.85
20126-75,554.22
20127-78,113.77
20128-80,473.71
20129-80,298.98
201210-78,020.50
201211-79,717.86
201212-83,120.83
20131-85,060.05
20132-87,375.77
20133-88,646.04
20134-92,700.94
20135-91,664.76
20136-94,647.97
20137-94,886.98
20138-96,018.47
20139-98,051.71
201310-101,836.50
201311-103,386.11
201312-104,386.69
20141-104,250.95
20142-107,088.94
20143-107,304.96
20144-108,948.91
20145-112,431.27
20146-114,113.04
20147-113,625.83
20148-115,646.14
20149-112,585.47
201410-119,009.20
201411-119,763.59
201412-118,434.16
20151-121,782.76
20152-121,850.18
20153-122,920.53
20154-124,123.80
20155-123,583.24
20156-123,484.83
20157-120,491.07
20158-115,060.42
20159-120,027.72
201510-123,547.50
201511-122,184.80
201512-114,341.00
20161-113,712.23
20162-120,947.43
20163-124,371.77
20164-123,993.22
20165-125,315.60
20166-129,447.80
20167-131,000.21
20168-130,425.55
20169-129,765.63
201610-131,324.32
201611-136,506.33
201612-138,468.79
20171-142,036.36
20172-144,520.94
20173-144,298.38
20174-146,740.44
20175-149,347.18
20176-150,822.56
20177-151,196.31
20178-153,695.98
20179-157,899.25
201710-160,409.17
201711-165,034.55
201712-173,058.36
20181-168,062.71
20182-168,171.24
20183-165,372.92
20184-168,616.91
20185-172,179.73
20186-174,901.45
20187-179,187.94
20188-182,197.85
20189-175,185.08
201810-171,548.05
201811-162,005.67
201812-164,817.49
20191-174,424.55
20192-177,822.37
20193-184,443.09
20194-181,617.81
20195-184,169.09
20196-191,217.87
20197-185,224.31
20198-190,938.90
20199-190,957.62
201910-199,424.09
201911-204,348.51
201912-211,186.83
20201-211,444.64
20202-171,444.16
20203-178,848.17
20204-189,377.61
20205-201,702.82
20206-208,714.89
20207-221,015.51
20208-219,629.74
20209-223,420.55
202010-232,254.86
202011-242,149.10
202012-248,917.90
20211-255,119.76
20212-257,215.20
20213-272,703.38
20214-274,776.56
20215-279,751.18
20216-288,334.51
20217-294,635.08
20218-294,386.12
20219-295,717.26
202110-309,748.29
202111-310,570.37
202112-304,197.61
20221-295,368.07
20222-292,731.66
20223-293,077.97
20224-270,004.73
20225-260,907.23
20226-262,119.63
20227-279,019.51
20228-258,714.13
20229-250,716.83
202210-263,967.45
202211-263,996.06
202212-267,629.85
20231-276,052.08
20232-268,914.96
20233-279,661.39
20234-281,724.44
20235-295,647.79
20236-307,107.22
20237-304,043.41
20238-301,144.12
20239-291,997.43
202310-305,434.35
202311-321,241.33
202312-330,595.35
20241-344,477.95
20242-355,784.13
20243-352,193.81
20244-361,057.52
20245-373,877.17
20246-382,774.18
20247-379,058.93
20248-389,377.33
20249-401,650.07
202410-411,618.15
202411-417,670.26
202412-415,922.22
20251-420,474.57
20252-396,215.60
20253-374,735.82
20254-405,987.86
20255-421,738.84
20256-440,832.12
20257-449,158.58
20258-461,884.06
20259-472,983.11
202510-473,807.94
202511-482,151.49
202512-482,997.26
Click to show 930 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 1948 to 2026
Start Value
Average monthly close
$14.83
End Value
Average monthly close
$6,858.47
Change in price +46,147.27%
+8.19% / yr
Change incl. dividends +530,684.35%
+11.62% / yr
Change incl. dividends, inflation-adjusted +39,366.32%
+7.97% / yr
Final amount, nominal
($100 base)
$530,784.35
Final amount, inflation-adjusted
($100 base)
$39,466.32