S&P 500: $100 in 1951 → $195,543.73 in 2023

$

Stock market returns between 1951 and 2023

If you invested $100 in the S&P 500 at the beginning of 1951, you would have about $195,543.73 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 195,443.73%, or 10.99% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 16,585.60% cumulatively, or 7.30% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $166,411.66.

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 $195,443.73, or 195,443.73%. This means by 2023 you would have $195,543.73 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 1951 was 26.000 and the CPI in 2023 was 304.702.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 72 years.

Adjusted for inflation, the $195,543.73 nominal end value of the original $100 investment would have a real return of roughly $16,585.60 in 1951 dollars. This means the inflation-adjusted return is 16,585.60% as opposed to the original 195,443.73%.

For more information on inflation, see our U.S. inflation calculator for 1951.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 872-month period between 1951 and 2023.

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

YearMonthReturn (%)Amount ($)CPI
195114.31%104.3125.40
19512-1.11%103.1525.70
195131.93%105.1425.80
195140.63%105.8025.80
19515-1.15%104.5825.90
195162.37%107.0625.90
195174.97%112.3825.90
195183.14%115.9025.90
195190.03%115.9326.10
195110-2.25%113.3226.20
1951113.61%117.4126.40
1951123.83%121.9226.50
19521-1.33%120.2926.50
195220.75%121.1926.30
195230.20%121.4426.30
195240.46%122.0026.40
195253.24%125.9626.40
195263.37%130.2026.50
195270.88%131.3426.70
19528-1.11%129.8926.70
19529-1.61%127.8026.70
1952103.67%132.4826.70
1952114.51%138.4626.70
1952120.99%139.8326.70
19531-0.77%138.7426.60
195320.96%140.0726.50
19533-4.47%133.8126.60
195341.00%135.1526.60
19535-3.11%130.9526.70
195361.91%133.4526.80
195370.90%134.6526.80
19538-4.11%129.1226.90
195393.52%133.6626.90
1953102.71%137.2827.00
1953111.84%139.8126.90
1953123.02%144.0326.90
195412.68%147.8926.90
195422.58%151.7126.90
195434.45%158.4626.90
195444.42%165.4726.80
195451.22%167.4926.90
195464.46%174.9626.90
195472.39%179.1526.90
195482.74%184.0526.90
195492.71%189.0426.80
1954104.30%197.1826.80
1954114.95%206.9426.80
1954122.17%211.4326.70
195513.70%219.2626.70
19552-0.44%218.3126.70
195533.81%226.6226.70
19554-0.08%226.4426.70
195556.15%240.3626.70
195567.64%258.7326.70
19557-0.30%257.9626.80
195584.82%270.3826.80
19559-4.72%257.6026.90
1955107.07%275.8126.90
1955111.24%279.2226.90
195512-2.39%272.5526.80
195610.95%275.1426.80
195627.21%294.9726.80
195631.48%299.3426.80
19564-2.84%290.8426.90
19565-0.26%290.0827.00
195665.75%306.7627.20
19567-0.28%305.8827.40
19568-3.09%296.4427.30
19569-0.95%293.6127.40
195610-0.71%291.5227.50
1956111.81%296.7927.50
195612-1.86%291.2627.60
19571-4.00%279.6227.60
195721.62%284.1627.70
195732.64%291.6727.80
195744.16%303.8027.90
195751.95%309.7428.00
195762.32%316.9328.10
19577-5.21%300.4428.30
19578-3.74%289.2028.30
19579-5.90%272.1528.30
195710-1.80%267.2528.30
1957110.32%268.1028.40
1957122.33%274.3428.40
195810.70%276.2728.60
195822.42%282.9528.60
195830.90%285.4928.80
195843.56%295.6428.90
195852.74%303.7328.90
195863.07%313.0628.90
195874.05%325.7529.00
195882.94%335.3428.90
195894.36%349.9628.90
1958103.33%361.6028.90
1958112.16%369.4229.00
1958124.25%385.1328.90
19591-1.27%380.2629.00
195922.81%390.9328.90
195931.94%398.5028.90
195941.77%405.5429.00
19595-0.61%403.0829.00
195964.23%420.1229.10
19597-0.32%418.7829.20
19598-3.70%403.2729.20
195990.18%403.9929.30
1959100.67%406.6929.40
1959113.46%420.7729.40
195912-1.49%414.5229.40
19601-3.61%399.5629.30
19602-1.08%395.2529.40
196031.58%401.5129.40
19604-0.62%399.0129.50
196053.99%414.9229.50
19606-2.20%405.8129.60
196071.49%411.8629.60
19608-2.72%400.6529.60
19609-1.67%393.9429.60
1960103.54%407.8929.80
1960112.69%418.8729.80
1960125.43%441.6029.80
196114.37%460.9229.80
196123.40%476.5729.80
196132.92%490.4829.80
196141.26%496.6829.80
19615-1.08%491.3229.80
19616-0.03%491.1829.80
196173.84%510.0330.00
19618-0.54%507.2729.90
196191.34%514.0830.00
1961104.77%538.6230.00
1961111.16%544.8830.00
196112-3.49%525.8830.00
196211.91%535.9230.00
196220.34%537.7530.10
19623-2.94%521.9130.10
19624-7.19%484.4130.20
19625-11.41%429.1330.20
196262.72%440.7930.20
196273.02%454.1130.30
19628-0.59%451.4230.30
19629-2.86%438.5330.40
1962107.20%470.1030.40
1962114.62%491.8430.40
1962124.15%512.2430.40
196311.60%520.4130.40
19632-0.11%519.8530.40
196334.98%545.7230.50
196342.27%558.1130.50
196350.22%559.3230.50
19636-1.22%552.4830.60
196373.03%569.2330.70
196382.89%585.7030.70
196390.50%588.6330.70
196310-0.31%586.8330.80
1963112.39%600.8730.80
1963123.33%620.8830.90
196411.48%630.0730.90
196422.07%643.1230.90
196431.69%654.0130.90
196441.22%661.9930.90
19645-0.35%659.6730.90
196463.96%685.8031.00
19647-1.23%677.3931.10
196481.97%690.7031.00
196491.97%704.3131.10
1964100.94%710.9131.10
196411-1.49%700.3231.20
1964122.82%720.0731.20
196510.98%727.0931.20
196520.34%729.5331.20
196531.56%740.9031.30
196541.73%753.7331.40
19655-4.51%719.7631.40
196560.10%720.5031.60
196572.12%735.7631.60
196583.60%762.2231.60
196592.50%781.2531.60
1965101.08%789.6631.70
196511-0.21%787.9931.70
1965121.98%803.6031.80
19661-0.43%800.1431.80
19662-3.86%769.2332.00
196633.32%794.7832.10
19664-5.01%754.9832.30
19665-0.56%750.7532.30
196660.02%750.8932.40
19667-5.77%707.5732.50
19668-3.22%684.7532.70
19669-0.56%680.8932.70
1966105.32%717.0832.90
1966110.72%722.2232.90
1966124.13%752.0532.90
196713.73%780.1032.90
196722.63%800.6432.90
196731.99%816.6033.00
196742.06%833.4033.10
19675-0.99%825.1333.20
196761.99%841.5733.30
196771.85%857.1633.40
196781.65%871.3333.50
196790.10%872.1833.60
196710-2.88%847.0533.70
1967113.11%873.4133.80
196712-0.02%873.2533.90
19681-4.26%836.0834.10
19682-1.56%823.0434.20
196837.66%886.1034.30
196842.56%908.7734.40
196852.94%935.4934.50
196860.05%935.9534.70
19687-1.93%917.8534.90
196883.51%950.0435.00
196892.72%975.8635.10
1968101.79%993.2835.30
1968111.29%1,006.0535.40
196812-3.99%965.9635.50
19691-0.24%963.6535.60
19692-1.91%945.2135.80
196932.27%966.7136.10
196943.51%1,000.6736.30
19695-4.97%950.9336.40
19696-4.21%910.9436.60
19697-0.28%908.3536.80
196980.63%914.0637.00
196991.35%926.3737.10
1969101.00%935.6137.30
196911-5.03%888.5737.50
196912-0.59%883.3437.70
19701-3.20%855.1037.80
197022.01%872.3138.00
19703-2.75%848.3438.20
19704-11.20%753.3438.50
19705-0.27%751.3038.60
197060.52%755.2338.80
197073.26%779.8239.00
197086.32%829.1139.00
197092.49%849.7539.20
1970100.21%851.5139.40
1970117.16%912.4739.60
1970124.11%949.9739.80
197114.15%989.4139.80
197122.83%1,017.4339.90
197133.67%1,054.8140.00
19714-1.11%1,043.1240.10
19715-1.60%1,026.4740.30
19716-0.46%1,021.7240.60
19717-1.52%1,006.2240.70
197182.49%1,031.2440.80
19719-1.86%1,012.0240.80
197110-4.37%967.7840.90
1971117.16%1,037.1140.90
1971124.42%1,082.9741.10
197212.09%1,105.5741.10
197222.62%1,134.5441.30
197231.26%1,148.8241.40
19724-0.78%1,139.9141.50
197250.52%1,145.7941.60
19726-0.50%1,140.0141.70
197273.78%1,183.1541.90
19728-1.21%1,168.8342.00
197290.42%1,173.7142.10
1972105.25%1,235.3842.30
1972112.31%1,263.9342.40
1972120.99%1,276.4442.50
19731-3.33%1,233.9942.60
19732-1.35%1,217.3942.90
19733-1.63%1,197.5143.30
19734-2.57%1,166.7443.60
19735-1.99%1,143.5243.90
197361.21%1,157.3644.20
19737-1.64%1,138.4344.30
197382.00%1,161.1545.10
197394.24%1,210.3245.20
197310-6.85%1,127.3845.60
197311-6.81%1,050.6645.90
1973121.70%1,068.5346.20
19741-2.47%1,042.1046.60
197424.57%1,089.7847.20
19743-4.82%1,037.2947.80
19744-2.71%1,009.2248.00
197450.46%1,013.8348.60
19746-11.35%898.8049.00
19747-3.76%864.9649.40
19748-10.01%778.3550.00
197492.38%796.8550.60
1974103.74%826.6851.10
197411-6.09%776.3251.50
1974128.63%843.3351.90
1975110.81%934.4852.10
197524.97%980.9552.50
197531.49%995.5452.70
197546.71%1,062.3752.90
197552.89%1,093.1253.20
197560.43%1,097.8453.60
19757-7.00%1,021.0354.20
19758-0.85%1,012.3354.30
197594.97%1,062.6554.60
1975102.04%1,084.3554.90
197511-1.18%1,071.5655.30
1975129.55%1,173.8455.50
197614.18%1,222.8955.60
197620.80%1,232.7055.80
197631.10%1,246.2055.90
19764-0.38%1,241.4356.10
197650.90%1,252.6156.50
197662.67%1,285.9956.80
19767-0.56%1,278.7857.10
197682.44%1,309.9657.40
19769-3.11%1,269.2457.60
197610-0.37%1,264.5957.90
1976113.79%1,312.4758.00
197612-0.54%1,305.4258.20
19771-2.37%1,274.5058.50
19772-0.05%1,273.8159.10
19773-1.19%1,258.6159.50
197740.06%1,259.4260.00
197750.90%1,270.7560.30
197761.28%1,287.0560.70
19777-2.08%1,260.2961.00
19778-1.18%1,245.4861.20
19779-2.20%1,218.1161.40
1977100.98%1,230.0661.60
197711-0.08%1,229.0761.90
197712-3.39%1,187.4062.10
19781-0.97%1,175.8662.50
197820.27%1,178.9862.90
197834.83%1,235.9363.40
197845.50%1,303.9663.90
197850.67%1,312.7464.50
19786-0.06%1,311.9265.20
197877.33%1,408.0665.70
197880.40%1,413.6966.00
19789-2.77%1,374.4866.50
197810-5.44%1,299.7467.10
1978111.92%1,324.7467.40
1978124.19%1,380.1867.70
19791-1.06%1,365.5968.30
197922.34%1,397.5669.10
197932.43%1,431.5469.80
19794-1.89%1,404.4470.60
197952.42%1,438.3971.50
197961.42%1,458.8372.30
197975.01%1,531.9873.10
197981.54%1,555.5873.80
19799-3.35%1,503.4374.60
197910-0.32%1,498.5875.20
1979114.40%1,564.5875.90
1979123.31%1,616.4076.70
198014.40%1,687.4677.80
19802-8.78%1,539.3378.90
19803-1.16%1,521.4580.10
198045.04%1,598.0781.00
198056.86%1,707.7481.80
198064.97%1,792.6182.70
198073.50%1,855.4382.70
198082.84%1,908.0583.30
198093.32%1,971.4884.00
1980104.61%2,062.4684.80
198011-1.24%2,036.7985.50
1980120.01%2,036.9986.30
19811-3.07%1,974.4587.00
198124.14%2,056.2687.90
198131.29%2,082.8788.50
19814-1.62%2,049.1889.10
198150.86%2,066.7589.80
19816-2.02%2,025.0890.60
198170.80%2,041.3391.60
19818-8.30%1,871.8592.30
198191.73%1,904.1893.20
1981103.04%1,962.1493.40
1981111.18%1,985.2893.70
198112-4.80%1,889.9094.00
19821-1.91%1,853.7394.30
19822-2.74%1,802.8694.60
198235.47%1,901.4694.50
198240.57%1,912.2994.90
19825-5.27%1,811.5095.80
198260.24%1,815.9297.00
198270.79%1,830.3497.50
1982812.10%2,051.7497.70
198298.88%2,233.9797.90
1982104.50%2,334.4998.20
1982111.36%2,366.1498.00
1982123.93%2,459.0397.60
198312.13%2,511.4097.80
198323.87%2,608.4897.90
198334.20%2,717.9797.90
198344.42%2,838.2298.60
198351.75%2,887.9899.20
198360.71%2,908.4499.50
19837-2.41%2,838.4299.90
198383.31%2,932.48100.20
198390.65%2,951.48100.70
198310-1.14%2,917.80101.00
198311-0.13%2,914.06101.20
1983121.58%2,959.98101.30
19841-5.11%2,808.66101.90
198420.44%2,821.09102.40
198430.51%2,835.39102.60
19844-0.25%2,828.23103.10
19845-1.85%2,775.96103.40
19846-0.91%2,750.74103.70
198479.21%3,003.99104.10
198481.41%3,046.25104.50
19849-0.41%3,033.69105.00
1984101.29%3,072.70105.30
198411-0.71%3,050.96105.30
1984124.70%3,194.28105.30
198515.79%3,379.15105.50
19852-0.48%3,362.98106.00
198531.02%3,397.44106.40
198542.74%3,490.39106.90
198552.51%3,578.03107.30
198562.25%3,658.43107.60
19857-1.85%3,590.92107.80
19858-1.88%3,523.24108.00
198591.50%3,575.93108.30
1985106.42%3,805.52108.70
1985115.29%4,007.01109.00
1985120.75%4,037.13109.30
198615.70%4,267.13109.60
198626.18%4,530.96109.30
198632.74%4,655.17108.80
198640.49%4,678.07108.60
198653.13%4,824.64108.90
19866-1.80%4,737.61109.50
198672.28%4,845.67109.50
19868-2.46%4,726.65109.70
19869-0.09%4,722.40110.20
1986103.53%4,889.24110.30
1986111.71%4,972.79110.40
1986126.67%5,304.65110.50
198716.46%5,647.43111.20
198724.38%5,894.58111.60
19873-0.86%5,844.10112.10
198740.17%5,854.20112.70
198754.50%6,117.55113.10
198763.12%6,308.54113.50
198776.45%6,715.70113.80
19878-3.03%6,512.18114.40
19879-11.85%5,740.24115.00
198710-12.30%5,033.99115.30
198711-1.33%4,966.80115.40
1987124.25%5,177.72115.40
198813.33%5,350.06115.70
198823.23%5,522.98116.00
19883-0.89%5,474.05116.50
19884-2.19%5,354.26117.10
198856.00%5,675.42117.50
19886-0.31%5,658.00118.00
19887-1.72%5,560.77118.50
198881.93%5,667.93119.00
198893.80%5,883.41119.80
198810-2.02%5,764.55120.20
1988112.33%5,898.63120.30
1988123.51%6,105.83120.50
198913.30%6,307.31121.10
19892-0.16%6,297.11121.60
198933.56%6,521.59122.30
198944.12%6,789.98123.10
198953.39%7,020.33123.80
198962.80%7,216.92124.10
198974.69%7,555.44124.40
198980.46%7,589.86124.60
198990.29%7,611.59125.00
198910-1.81%7,473.55125.60
1989112.74%7,678.08125.90
198912-2.21%7,508.30126.10
19901-2.53%7,318.55127.40
199022.71%7,516.67128.00
199030.20%7,531.41128.70
199043.85%7,821.43128.90
199053.17%8,069.37129.20
199060.17%8,083.07129.90
19907-7.86%7,447.64130.40
19908-4.34%7,124.33131.60
19909-2.32%6,959.35132.70
1990102.98%7,167.00133.50
1990114.59%7,495.72133.80
199012-0.69%7,444.37133.80
1991111.61%8,308.42134.60
199123.04%8,561.38134.80
199132.26%8,754.76135.00
19914-0.18%8,739.10135.20
199150.35%8,769.43135.60
199160.78%8,837.87136.00
199172.68%9,074.63136.20
19918-0.30%9,047.13136.60
199190.18%9,063.56137.20
1991100.02%9,064.99137.40
1991110.94%9,149.76137.80
1991127.36%9,823.01137.90
19921-0.60%9,763.98138.10
19922-1.01%9,665.14138.60
199230.26%9,690.68139.30
199242.07%9,891.12139.50
19925-1.33%9,759.65139.70
199261.91%9,946.27140.20
199270.94%10,039.94140.50
199280.38%10,077.91140.90
19929-1.18%9,958.78141.30
1992102.76%10,233.33141.80
1992113.27%10,568.09142.00
1992120.14%10,583.19141.90
199311.72%10,765.67142.60
199322.15%10,997.15143.10
19933-1.34%10,849.59143.60
199340.72%10,928.22144.00
199350.87%11,022.77144.20
199360.06%11,029.50144.40
199371.76%11,223.89144.40
199381.35%11,375.97144.80
199391.24%11,517.25145.10
1993100.01%11,518.12145.70
1993110.89%11,620.30145.80
1993121.74%11,822.02145.80
19941-0.08%11,813.07146.20
19942-1.42%11,644.87146.70
19943-3.35%11,255.19147.20
199441.06%11,374.30147.40
199451.11%11,500.33147.50
19946-0.52%11,440.66148.00
199473.08%11,793.27148.40
199480.82%11,889.68149.00
19949-0.44%11,836.89149.40
199410-0.37%11,793.10149.50
199411-1.03%11,672.14149.70
1994122.45%11,958.25149.70
199513.82%12,414.94150.30
199522.56%12,732.54150.90
199533.22%13,141.96151.40
199543.35%13,581.92151.90
199553.18%14,013.61152.20
199563.55%14,510.74152.50
199570.51%14,585.20152.50
199583.72%15,127.43152.90
199590.91%15,265.48153.20
1995102.36%15,625.50153.70
1995113.39%16,155.06153.60
1995120.16%16,181.33153.50
199615.90%17,136.74154.40
19962-0.20%17,102.35154.90
199630.20%17,136.04155.70
199642.35%17,539.57156.30
199651.28%17,763.83156.60
19966-3.48%17,146.26156.70
199673.08%17,673.63157.00
199682.02%18,031.30157.30
199694.12%18,774.10157.80
1996105.05%19,722.58158.30
1996111.20%19,958.90158.60
1996123.26%20,609.07158.60
199714.36%21,507.87159.10
19972-0.62%21,373.73159.60
19973-3.41%20,645.90160.00
199749.22%22,549.00160.20
199755.34%23,752.40160.10
199765.74%25,114.82160.30
199770.35%25,202.17160.50
199781.19%25,502.58160.80
199791.65%25,922.20161.20
199710-1.15%25,623.56161.60
1997112.63%26,298.64161.50
1997120.24%26,360.99161.30
199816.40%28,048.67161.60
199825.31%29,538.86161.90
199833.41%30,544.85162.20
19984-0.22%30,477.09162.50
199850.12%30,512.58162.80
199864.47%31,875.78163.00
19987-6.97%29,653.72163.20
19988-4.90%28,201.15163.40
199891.29%28,565.18163.60
19981010.97%31,700.03164.00
1998114.10%33,001.04164.00
1998125.05%34,666.83163.90
19991-0.07%34,643.70164.30
199922.92%35,656.51164.50
199934.25%37,171.92165.00
19994-0.10%37,135.18166.20
19995-0.61%36,908.00166.20
199964.52%38,577.13166.20
19997-3.77%37,121.08166.70
19998-0.60%36,899.09167.10
19999-1.27%36,429.56167.90
1999107.11%39,018.22168.20
1999112.81%40,114.14168.30
199912-0.12%40,066.43168.30
20001-2.48%39,073.55168.80
200023.94%40,613.42169.80
200031.42%41,192.03171.20
20004-2.84%40,022.67171.30
200053.16%41,288.78171.50
200060.85%41,639.88172.40
200070.94%42,031.17172.80
20008-1.08%41,577.38172.80
20009-5.21%39,409.44173.70
200010-0.77%39,104.98174.00
200011-3.32%37,806.66174.10
2000120.46%37,978.69174.00
20011-2.14%37,167.37175.10
20012-9.08%33,792.60175.80
200130.45%33,944.23176.20
200146.88%36,279.37176.90
20015-2.39%35,412.78177.70
20016-2.66%34,470.72178.00
20017-2.05%33,765.50177.50
20018-11.25%29,967.79177.50
200193.18%30,921.97178.30
2001105.05%32,484.50177.70
2001111.47%32,960.74177.40
200112-0.30%32,862.62176.70
20021-3.35%31,760.81177.10
200224.95%33,331.47177.80
20023-3.51%32,160.06178.80
20024-2.82%31,253.03179.80
20025-5.92%29,402.55179.80
20026-10.76%26,239.27179.90
200271.14%26,538.09180.10
20028-4.76%25,275.47180.70
20029-1.37%24,929.95181.00
2002106.63%26,581.70181.30
200211-1.04%26,306.56181.30
200212-0.22%26,248.03180.90
20031-6.41%24,564.26181.70
200321.31%24,885.54183.10
200335.29%26,200.95184.20
200345.31%27,592.80183.80
200355.70%29,166.74183.50
200360.60%29,340.55183.70
20037-0.17%29,291.75183.90
200383.16%30,217.71184.60
200392.03%30,830.48185.20
2003101.21%31,203.71185.00
2003113.06%32,159.73184.50
2003124.93%33,746.80184.30
200411.09%34,113.51185.20
20042-1.57%33,579.57186.20
200430.97%33,904.67187.40
20044-2.56%33,035.26188.00
200452.86%33,979.30189.10
20046-2.24%33,218.58189.70
20047-1.39%32,757.65189.40
200482.78%33,669.17189.50
200490.10%33,703.72189.90
2004104.77%35,312.70190.90
2004112.73%36,275.83191.00
200412-1.35%35,786.39190.30
200511.68%36,388.03190.70
20052-0.26%36,295.03191.80
20053-2.41%35,420.71193.30
200541.34%35,893.89194.60
200552.18%36,676.63194.40
200561.81%37,339.66194.50
200570.31%37,455.42195.40
200580.28%37,560.18196.40
20059-2.62%36,574.52198.80
2005103.96%38,023.43199.20
2005112.14%38,838.71197.60
2005121.47%39,408.38196.80
20061-0.02%39,401.82198.30
200621.49%39,987.39198.70
200630.80%40,306.62199.80
20064-0.79%39,989.56201.50
20065-2.71%38,907.52202.50
200660.72%39,187.67202.90
200672.29%40,085.76203.50
200682.53%41,100.40203.90
200693.62%42,586.55202.90
2006102.00%43,438.98201.80
2006112.15%44,372.17201.50
2006120.69%44,679.59201.80
200711.60%45,392.70202.42
20072-2.47%44,269.73203.50
200734.18%46,120.32205.35
200743.39%47,684.61206.69
200750.34%47,849.07207.95
200760.57%48,124.02208.35
20077-4.20%46,102.28208.30
200783.07%47,519.81207.92
200792.99%48,941.43208.49
200710-4.81%46,589.15208.94
2007111.24%47,166.03210.18
200712-6.64%44,036.47210.04
20081-1.56%43,347.75211.08
20082-2.63%42,209.17211.69
200834.24%44,000.44213.53
200842.56%45,128.00214.82
20085-4.25%43,211.60216.63
20086-6.08%40,584.99218.82
200872.11%41,441.55219.96
20088-4.85%39,432.66219.09
20089-20.19%31,469.79218.78
200810-8.61%28,761.71216.57
200811-0.35%28,660.69212.43
200812-1.10%28,346.70210.23
20091-6.70%26,446.76211.14
20092-5.69%24,942.62212.19
2009312.32%28,015.98212.71
200946.66%29,881.80213.24
200952.87%30,739.06213.86
200961.28%31,131.80215.69
200978.12%33,659.93215.35
200983.65%34,888.64215.83
200992.40%35,727.05215.97
2009102.09%36,475.29216.18
2009112.23%37,287.18216.33
2009121.36%37,793.15215.95
20101-2.90%36,697.73216.69
201025.94%38,878.69216.74
201034.09%40,468.02217.63
20104-5.88%38,087.53218.01
20105-3.54%36,737.87218.18
20106-0.16%36,679.43217.97
201070.86%36,996.20218.01
201083.37%38,243.40218.31
201094.58%39,993.97218.44
2010102.49%40,990.18218.71
2010113.71%42,512.45218.80
2010123.46%43,984.31219.18
201113.15%45,370.20220.22
20112-1.11%44,865.47221.31
201132.22%45,861.93223.47
201140.66%46,164.27224.91
20115-3.66%44,473.45225.96
201163.10%45,852.90225.72
20117-10.40%41,083.90225.92
20118-0.79%40,759.65226.55
201193.02%41,990.15226.89
2011101.77%42,732.16226.42
2011111.55%43,396.54226.23
2011124.78%45,472.01225.67
201214.16%47,364.83226.67
201222.88%48,730.75227.66
20123-0.04%48,712.13229.39
20124-3.09%47,206.47230.09
20125-1.15%46,662.45229.82
201262.92%48,025.50229.48
201273.39%49,652.46229.10
201283.02%51,152.55230.38
20129-0.22%51,041.48231.41
201210-2.84%49,593.18231.32
2012112.18%50,672.10230.22
2012124.27%52,835.17229.60
201312.33%54,067.82230.28
201322.72%55,539.79232.17
201331.45%56,347.23232.77
201344.57%58,924.70232.53
20135-1.12%58,266.06232.95
201363.25%60,162.31233.50
201370.25%60,314.24233.60
201381.19%61,033.47233.88
201392.12%62,325.88234.15
2013103.86%64,731.66233.55
2013111.52%65,716.65233.07
2013120.97%66,352.66233.05
20141-0.13%66,266.38233.92
201422.72%68,070.33234.78
201430.20%68,207.64236.29
201441.53%69,252.61237.07
201453.20%71,466.14237.90
201461.50%72,535.15238.34
20147-0.43%72,225.46238.25
201481.78%73,509.65237.85
20149-2.65%71,564.16238.03
2014105.71%75,647.36237.43
2014110.63%76,126.88236.15
201412-1.11%75,281.84234.81
201512.83%77,410.35233.71
201520.06%77,453.21234.72
201530.88%78,133.57236.12
201540.98%78,898.42236.60
20155-0.44%78,554.82237.81
20156-0.08%78,492.26238.64
20157-2.42%76,589.30238.65
20158-4.51%73,137.35238.32
201594.32%76,294.77237.95
2015102.93%78,532.09237.84
201511-1.10%77,665.91237.34
201512-6.42%72,680.05236.53
20161-0.55%72,280.38236.92
201626.36%76,879.38237.11
201632.83%79,056.04238.13
20164-0.30%78,815.42239.26
201651.07%79,655.97240.23
201663.30%82,282.58241.02
201671.20%83,269.36240.63
20168-0.44%82,904.08240.85
20169-0.51%82,484.60241.43
2016101.20%83,475.38241.73
2016113.95%86,769.28241.35
2016121.44%88,016.71241.43
201712.58%90,284.41242.84
201721.75%91,863.72243.60
20173-0.15%91,722.24243.80
201741.69%93,274.53244.52
201751.78%94,931.48244.73
201760.99%95,869.30244.96
201770.25%96,106.86244.79
201781.65%97,695.76245.52
201792.73%100,367.55246.82
2017101.59%101,962.96246.66
2017112.88%104,903.05246.67
2017124.86%110,003.33246.52
20181-2.89%106,827.87247.87
201820.06%106,896.86248.99
20183-1.66%105,118.13249.55
201841.96%107,180.15250.55
201852.11%109,444.83251.59
201861.58%111,174.87251.99
201872.45%113,899.55252.01
201881.68%115,812.78252.15
20189-3.85%111,355.16252.44
201810-2.08%109,043.30252.89
201811-5.56%102,977.76252.04
2018121.74%104,765.08251.23
201915.83%110,871.73251.71
201921.95%113,031.54252.78
201933.72%117,239.95254.20
20194-1.53%115,444.08255.55
201951.40%117,065.78256.09
201963.83%121,546.29256.14
20197-3.13%117,736.53256.57
201983.09%121,368.97256.56
201990.01%121,380.86256.76
2019104.43%126,762.52257.35
2019112.47%129,892.69257.21
2019123.35%134,239.42256.97
202010.12%134,403.29257.97
20202-18.92%108,977.27258.68
202034.32%113,683.58258.12
202045.89%120,376.54256.39
202056.51%128,210.98256.39
202063.48%132,668.15257.80
202075.89%140,486.95259.10
20208-0.63%139,606.09259.92
202091.73%142,015.70260.28
2020103.95%147,631.16260.39
2020114.26%153,920.37260.23
2020122.80%158,222.91260.47
202112.49%162,165.07261.58
202120.82%163,497.03263.01
202136.02%173,341.98264.88
202140.76%174,659.78267.05
202151.81%177,821.86269.20
202163.07%183,277.79271.70
202172.19%187,282.71273.00
20218-0.08%187,124.46273.57
202190.45%187,970.59274.31
2021104.74%196,889.31276.59
2021110.27%197,411.87277.95
202112-2.05%193,361.07278.80
20221-2.90%187,748.63281.15
20222-0.89%186,072.81283.72
202230.12%186,292.94287.50
20224-7.87%171,626.60289.11
20225-3.37%165,843.84292.30
202260.46%166,614.49296.31
202276.45%177,356.78296.28
20228-7.28%164,449.81296.17
20229-3.09%159,366.38296.81
2022105.29%167,789.05298.01
2022110.01%167,807.23297.71
2022121.38%170,117.02296.80
202313.15%175,470.56299.17
20232-2.59%170,933.89300.84
202334.00%177,764.79301.84
202340.74%179,076.15303.36
202354.94%187,926.43304.13
202363.88%195,210.54305.11
20237-1.13%193,014.38305.69
202381.31%195,543.73307.03
Click to show 858 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 1951. This would result in a final amount of $166,411.66, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $195,543.73).

YearMonthContribution ($)Amount ($)
195114.164.31
195124.168.36
195134.1612.73
195144.1616.98
195154.1620.87
195164.1625.60
195174.1631.21
195184.1636.46
195194.1640.60
1951104.1643.73
1951114.1649.60
1951124.1655.80
195214.1659.14
195224.1663.76
195234.1668.03
195244.1672.51
195254.1679.13
195264.1686.08
195274.1691.01
195284.1694.10
195294.1696.65
1952104.16104.49
1952114.16113.53
1952124.32118.99
19531-118.07
19532-119.20
19533-113.87
19534-115.01
19535-111.44
19536-113.57
19537-114.59
19538-109.89
19539-113.75
195310-116.83
195311-118.98
195312-122.58
19541-125.86
19542-129.11
19543-134.85
19544-140.82
19545-142.54
19546-148.89
19547-152.46
19548-156.63
19549-160.88
195410-167.80
195411-176.11
195412-179.93
19551-186.60
19552-185.78
19553-192.86
19554-192.71
19555-204.55
19556-220.18
19557-219.53
19558-230.10
19559-219.23
195510-234.72
195511-237.62
195512-231.95
19561-234.15
19562-251.02
19563-254.74
19564-247.51
19565-246.87
19566-261.06
19567-260.31
19568-252.27
19569-249.87
195610-248.09
195611-252.58
195612-247.87
19571-237.97
19572-241.82
19573-248.22
19574-258.54
19575-263.60
19576-269.72
19577-255.68
19578-246.12
19579-231.60
195710-227.43
195711-228.16
195712-233.47
19581-235.11
19582-240.80
19583-242.95
19584-251.60
19585-258.48
19586-266.42
19587-277.22
19588-285.38
19589-297.82
195810-307.73
195811-314.38
195812-327.76
19591-323.61
19592-332.69
19593-339.13
19594-345.12
19595-343.03
19596-357.53
19597-356.39
19598-343.19
19599-343.80
195910-346.10
195911-358.09
195912-352.77
19601-340.03
19602-336.37
19603-341.70
19604-339.56
19605-353.10
19606-345.35
19607-350.50
19608-340.96
19609-335.25
196010-347.13
196011-356.47
196012-375.81
19611-392.25
19612-405.57
19613-417.41
19614-422.69
19615-418.12
19616-418.00
19617-434.05
19618-431.70
19619-437.50
196110-458.37
196111-463.71
196112-447.54
19621-456.08
19622-457.64
19623-444.16
19624-412.25
19625-365.20
19626-375.12
19627-386.46
19628-384.17
19629-373.19
196210-400.07
196211-418.57
196212-435.92
19631-442.88
19632-442.40
19633-464.42
19634-474.96
19635-475.99
19636-470.18
19637-484.43
19638-498.44
19639-500.94
196310-499.40
196311-511.35
196312-528.38
19641-536.20
19642-547.31
19643-556.57
19644-563.37
19645-561.39
19646-583.63
19647-576.47
19648-587.80
19649-599.38
196410-605.00
196411-595.98
196412-612.80
19651-618.77
19652-620.85
19653-630.52
19654-641.44
19655-612.53
19656-613.16
19657-626.15
19658-648.67
19659-664.86
196510-672.02
196511-670.59
196512-683.88
19661-680.93
19662-654.63
19663-676.37
19664-642.50
19665-638.91
19666-639.03
19667-602.16
19668-582.74
19669-579.45
196610-610.25
196611-614.62
196612-640.01
19671-663.88
19672-681.36
19673-694.94
19674-709.24
19675-702.21
19676-716.20
19677-729.46
19678-741.52
19679-742.24
196710-720.85
196711-743.29
196712-743.16
19681-711.52
19682-700.43
19683-754.09
19684-773.38
19685-796.12
19686-796.51
19687-781.11
19688-808.50
19689-830.47
196810-845.30
196811-856.17
196812-822.05
19691-820.09
19692-804.39
19693-822.69
19694-851.59
19695-809.26
19696-775.22
19697-773.03
19698-777.88
19699-788.36
196910-796.22
196911-756.19
196912-751.74
19701-727.71
19702-742.36
19703-721.96
19704-641.11
19705-639.37
19706-642.72
19707-663.64
19708-705.59
19709-723.16
197010-724.65
197011-776.53
197012-808.45
19711-842.01
19712-865.85
19713-897.66
19714-887.72
19715-873.55
19716-869.50
19717-856.31
19718-877.60
19719-861.25
197110-823.60
197111-882.60
197112-921.63
19721-940.87
19722-965.51
19723-977.67
19724-970.08
19725-975.09
19726-970.18
19727-1,006.88
19728-994.70
19729-998.85
197210-1,051.33
197211-1,075.63
197212-1,086.27
19731-1,050.15
19732-1,036.03
19733-1,019.10
19734-992.92
19735-973.16
19736-984.94
19737-968.83
19738-988.16
19739-1,030.01
197310-959.43
197311-894.13
197312-909.34
19741-886.85
19742-927.42
19743-882.75
19744-858.87
19745-862.79
19746-764.89
19747-736.10
19748-662.39
19749-678.13
197410-703.52
197411-660.66
197412-717.69
19751-795.26
19752-834.81
19753-847.23
19754-904.10
19755-930.27
19756-934.29
19757-868.92
19758-861.51
19759-904.34
197510-922.80
197511-911.92
197512-998.96
19761-1,040.70
19762-1,049.05
19763-1,060.54
19764-1,056.48
19765-1,065.99
19766-1,094.41
19767-1,088.27
19768-1,114.80
19769-1,080.15
197610-1,076.19
197611-1,116.94
197612-1,110.94
19771-1,084.63
19772-1,084.04
19773-1,071.10
19774-1,071.79
19775-1,081.43
19776-1,095.30
19777-1,072.53
19778-1,059.93
19779-1,036.63
197710-1,046.80
197711-1,045.97
197712-1,010.50
19781-1,000.68
19782-1,003.34
19783-1,051.80
19784-1,109.70
19785-1,117.17
19786-1,116.47
19787-1,198.29
19788-1,203.08
19789-1,169.71
197810-1,106.11
197811-1,127.38
197812-1,174.56
19791-1,162.15
19792-1,189.35
19793-1,218.27
19794-1,195.20
19795-1,224.10
19796-1,241.49
19797-1,303.74
19798-1,323.83
19799-1,279.45
197910-1,275.32
197911-1,331.49
197912-1,375.59
19801-1,436.06
19802-1,310.01
19803-1,294.78
19804-1,359.99
19805-1,453.32
19806-1,525.54
19807-1,579.01
19808-1,623.79
19809-1,677.77
198010-1,755.20
198011-1,733.35
198012-1,733.52
19811-1,680.30
19812-1,749.92
19813-1,772.56
19814-1,743.89
19815-1,758.85
19816-1,723.39
19817-1,737.22
19818-1,592.98
19819-1,620.50
198110-1,669.82
198111-1,689.51
198112-1,608.35
19821-1,577.56
19822-1,534.27
19823-1,618.18
19824-1,627.40
19825-1,541.63
19826-1,545.38
19827-1,557.65
19828-1,746.07
19829-1,901.15
198210-1,986.70
198211-2,013.63
198212-2,092.68
19831-2,137.26
19832-2,219.87
19833-2,313.05
19834-2,415.38
19835-2,457.73
19836-2,475.14
19837-2,415.56
19838-2,495.60
19839-2,511.77
198310-2,483.10
198311-2,479.92
198312-2,519.00
19841-2,390.23
19842-2,400.80
19843-2,412.98
19844-2,406.88
19845-2,362.40
19846-2,340.94
19847-2,556.46
19848-2,592.42
19849-2,581.73
198410-2,614.93
198411-2,596.43
198412-2,718.40
19851-2,875.72
19852-2,861.97
19853-2,891.29
19854-2,970.39
19855-3,044.97
19856-3,113.40
19857-3,055.95
19858-2,998.35
19859-3,043.19
198510-3,238.58
198511-3,410.04
198512-3,435.68
19861-3,631.42
19862-3,855.94
19863-3,961.65
19864-3,981.13
19865-4,105.87
19866-4,031.80
19867-4,123.76
19868-4,022.47
19869-4,018.86
198610-4,160.84
198611-4,231.95
198612-4,514.36
19871-4,806.07
19872-5,016.41
19873-4,973.45
19874-4,982.04
19875-5,206.16
19876-5,368.70
19877-5,715.19
19878-5,542.00
19879-4,885.06
198710-4,284.03
198711-4,226.85
198712-4,406.34
19881-4,553.01
19882-4,700.17
19883-4,658.52
19884-4,556.58
19885-4,829.90
19886-4,815.07
19887-4,732.33
19888-4,823.53
19889-5,006.90
198810-4,905.75
198811-5,019.85
198812-5,196.18
19891-5,367.65
19892-5,358.97
19893-5,550.01
19894-5,778.41
19895-5,974.45
19896-6,141.74
19897-6,429.83
19898-6,459.13
19899-6,477.61
198910-6,360.14
198911-6,534.20
198912-6,389.71
19901-6,228.23
19902-6,396.84
19903-6,409.38
19904-6,656.20
19905-6,867.20
19906-6,878.85
19907-6,338.09
19908-6,062.95
19909-5,922.55
199010-6,099.26
199011-6,379.01
199012-6,335.31
19911-7,070.63
19912-7,285.90
19913-7,450.48
19914-7,437.15
19915-7,462.96
19916-7,521.21
19917-7,722.70
19918-7,699.29
19919-7,713.27
199110-7,714.49
199111-7,786.63
199112-8,359.58
19921-8,309.35
19922-8,225.23
19923-8,246.97
19924-8,417.54
19925-8,305.66
19926-8,464.48
19927-8,544.19
19928-8,576.50
19929-8,475.12
199210-8,708.77
199211-8,993.66
199212-9,006.51
19931-9,161.80
19932-9,358.79
19933-9,233.22
19934-9,300.14
19935-9,380.60
19936-9,386.32
19937-9,551.75
19938-9,681.18
19939-9,801.41
199310-9,802.15
199311-9,889.11
199312-10,060.77
19941-10,053.16
19942-9,910.02
19943-9,578.39
19944-9,679.76
19945-9,787.02
19946-9,736.23
19947-10,036.31
19948-10,118.36
19949-10,073.43
199410-10,036.17
199411-9,933.23
199412-10,176.71
19951-10,565.37
19952-10,835.65
19953-11,184.07
19954-11,558.49
19955-11,925.87
19956-12,348.93
19957-12,412.30
19958-12,873.75
19959-12,991.23
199510-13,297.61
199511-13,748.29
199512-13,770.64
19961-14,583.71
19962-14,554.44
19963-14,583.12
19964-14,926.53
19965-15,117.38
19966-14,591.81
19967-15,040.62
19968-15,345.00
19969-15,977.14
199610-16,784.32
199611-16,985.43
199612-17,538.74
19971-18,303.63
19972-18,189.47
19973-17,570.08
19974-19,189.66
19975-20,213.78
19976-21,373.22
19977-21,447.56
19978-21,703.21
19979-22,060.31
199710-21,806.17
199711-22,380.68
199712-22,433.74
19981-23,869.98
19982-25,138.16
19983-25,994.29
19984-25,936.62
19985-25,966.82
19986-27,126.93
19987-25,235.91
19988-23,999.74
19989-24,309.55
199810-26,977.37
199811-28,084.55
199812-29,502.17
19991-29,482.49
19992-30,344.41
19993-31,634.06
19994-31,602.79
19995-31,409.46
19996-32,829.91
19997-31,590.79
19998-31,401.87
19999-31,002.29
199910-33,205.30
199911-34,137.94
199912-34,097.34
20001-33,252.38
20002-34,562.84
20003-35,055.25
20004-34,060.10
20005-35,137.59
20006-35,436.38
20007-35,769.38
20008-35,383.19
20009-33,538.23
200010-33,279.13
200011-32,174.24
200012-32,320.63
20011-31,630.18
20012-28,758.19
20013-28,887.23
20014-30,874.47
20015-30,136.99
20016-29,335.28
20017-28,735.12
20018-25,503.19
20019-26,315.22
200110-27,644.97
200111-28,050.26
200112-27,966.75
20021-27,029.09
20022-28,365.76
20023-27,368.86
20024-26,596.96
20025-25,022.16
20026-22,330.15
20027-22,584.45
20028-21,509.94
20029-21,215.89
200210-22,621.56
200211-22,387.42
200212-22,337.60
20031-20,904.68
20032-21,178.09
20033-22,297.54
20034-23,482.03
20035-24,821.49
20036-24,969.40
20037-24,927.87
20038-25,715.88
20039-26,237.36
200310-26,554.98
200311-27,368.58
200312-28,719.21
20041-29,031.29
20042-28,576.89
20043-28,853.56
20044-28,113.68
20045-28,917.07
20046-28,269.69
20047-27,877.42
20048-28,653.15
20049-28,682.54
200410-30,051.82
200411-30,871.47
200412-30,454.94
20051-30,966.95
20052-30,887.80
20053-30,143.74
20054-30,546.42
20055-31,212.55
20056-31,776.81
20057-31,875.32
20058-31,964.47
20059-31,125.66
200510-32,358.71
200511-33,052.52
200512-33,537.33
20061-33,531.75
20062-34,030.08
20063-34,301.75
20064-34,031.92
20065-33,111.09
20066-33,349.50
20067-34,113.79
20068-34,977.27
20069-36,242.02
200610-36,967.45
200611-37,761.61
200612-38,023.23
20071-38,630.10
20072-37,674.44
20073-39,249.33
20074-40,580.57
20075-40,720.53
20076-40,954.52
20077-39,233.97
20078-40,440.32
20079-41,650.14
200710-39,648.31
200711-40,139.24
200712-37,475.92
20081-36,889.81
20082-35,920.85
20083-37,445.26
20084-38,404.84
20085-36,773.94
20086-34,538.65
20087-35,267.60
20088-33,557.99
20089-26,781.43
200810-24,476.79
200811-24,390.83
200812-24,123.61
20091-22,506.73
20092-21,226.67
20093-23,842.17
20094-25,430.01
20095-26,159.56
20096-26,493.79
20097-28,645.28
20098-29,690.93
20099-30,404.44
200910-31,041.21
200911-31,732.14
200912-32,162.74
20101-31,230.51
20102-33,086.55
20103-34,439.10
20104-32,413.26
20105-31,264.67
20106-31,214.94
20107-31,484.51
20108-32,545.91
20109-34,035.67
201010-34,883.47
201011-36,178.95
201012-37,431.54
20111-38,610.96
20112-38,181.42
20113-39,029.43
20114-39,286.72
20115-37,847.81
20116-39,021.75
20117-34,963.23
20118-34,687.29
20119-35,734.46
201110-36,365.94
201111-36,931.34
201112-38,697.60
20121-40,308.43
20122-41,470.86
20123-41,455.01
20124-40,173.66
20125-39,710.69
20126-40,870.67
20127-42,255.25
20128-43,531.85
20129-43,437.33
201210-42,204.80
201211-43,122.98
201212-44,963.79
20131-46,012.81
20132-47,265.49
20133-47,952.63
20134-50,146.11
20135-49,585.59
20136-51,199.34
20137-51,328.64
20138-51,940.71
20139-53,040.58
201310-55,087.95
201311-55,926.20
201312-56,467.46
20141-56,394.03
20142-57,929.23
20143-58,046.08
20144-58,935.37
20145-60,819.13
20146-61,728.88
20147-61,465.32
20148-62,558.20
20149-60,902.54
201410-64,377.43
201411-64,785.51
201412-64,066.36
20151-65,877.77
20152-65,914.25
20153-66,493.24
20154-67,144.15
20155-66,851.74
20156-66,798.50
20157-65,179.04
20158-62,241.36
20159-64,928.39
201510-66,832.40
201511-66,095.26
201512-61,852.19
20161-61,512.06
20162-65,425.91
20163-67,278.28
20164-67,073.51
20165-67,788.84
20166-70,024.14
20167-70,863.91
20168-70,553.05
20169-70,196.06
201610-71,039.23
201611-73,842.41
201612-74,904.00
20171-76,833.86
20172-78,177.88
20173-78,057.48
20174-79,378.51
20175-80,788.61
20176-81,586.71
20177-81,788.88
20178-83,141.07
20179-85,414.81
201710-86,772.54
201711-89,274.61
201712-93,615.05
20181-90,912.68
20182-90,971.39
20183-89,457.65
20184-91,212.47
20185-93,139.76
20186-94,612.06
20187-96,930.82
20188-98,559.01
20189-94,765.49
201810-92,798.06
201811-87,636.15
201812-89,157.20
20191-94,354.08
20192-96,192.12
20193-99,773.57
20194-98,245.25
20195-99,625.34
20196-103,438.35
20197-100,196.16
20198-103,287.44
20199-103,297.57
201910-107,877.46
201911-110,541.30
201912-114,240.46
20201-114,379.92
20202-92,741.86
20203-96,747.02
20204-102,442.87
20205-109,110.13
20206-112,903.27
20207-119,557.23
20208-118,807.61
20209-120,858.23
202010-125,637.10
202011-130,989.34
202012-134,650.89
20211-138,005.75
20212-139,139.28
20213-147,517.53
20214-148,639.00
20215-151,330.00
20216-155,973.11
20217-159,381.37
20218-159,246.69
20219-159,966.77
202110-167,556.78
202111-168,001.49
202112-164,554.17
20221-159,777.87
20222-158,351.72
20223-158,539.06
20224-146,057.70
20225-141,136.46
20226-141,792.30
20227-150,934.21
20228-139,950.11
20229-135,624.01
202210-142,791.87
202211-142,807.34
202212-144,773.02
20231-149,328.99
20232-145,468.20
20233-151,281.43
20234-152,397.42
20235-159,929.19
20236-166,128.11
20237-164,259.14
20238-166,411.66
Click to show 858 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 1951 to 2023
Start Value
Average monthly close
$21.21
End Value
Average monthly close
$3,960.66
Change in price+18,573.53%
+7.53% / yr
Change incl. dividends+195,443.73%
+10.99% / yr
Change incl. dividends, inflation-adjusted+16,585.60%
+7.30% / yr
Final amount, nominal
($100 base)
$195,543.73
Final amount, inflation-adjusted
($100 base)
$16,685.60