S&P 500: $100 in 1920 → $3,259,702.36 in 2024

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Stock market returns since 1920

If you invested $100 in the S&P 500 at the beginning of 1920, you would have about $3,259,702.36 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 3,259,602.36%, or 10.46% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 206,429.88% cumulatively, or 7.58% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $3,640,270.10.

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 $3,259,602.36, or 3,259,602.36%. This means by 2024 you would have $3,259,702.36 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 1920 was 20.000 and the CPI in 2024 was 315.664.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 104 years.

Adjusted for inflation, the $3,259,702.36 nominal end value of the original $100 investment would have a real return of roughly $206,429.88 in 1920 dollars. This means the inflation-adjusted return is 206,429.88% as opposed to the original 3,259,602.36%.

For more information on inflation, see our U.S. inflation calculator for 1920.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1253-month period between 1920 and 2024.

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

YearMonthReturn (%)Amount ($)CPI
19201-7.77%92.2319.30
192027.58%99.2219.50
19203-0.30%98.9219.70
19204-5.77%93.2120.30
19205-1.20%92.1020.60
192060.42%92.4820.90
19207-3.37%89.3620.80
192084.12%93.0420.30
192090.67%93.6720.00
192010-4.53%89.4219.90
192011-8.39%81.9219.80
1920125.03%86.0419.40
19211-0.11%85.9519.00
19212-1.96%84.2718.40
192131.04%85.1418.30
192143.63%88.2418.10
19215-7.43%81.6817.70
192160.31%81.9317.60
19217-0.61%81.4317.70
192183.10%83.9517.70
192191.96%85.6017.50
1921105.96%90.6917.50
1921114.09%94.4017.40
1921120.39%94.7717.30
192212.72%97.3516.90
192224.28%101.5116.90
192236.58%108.1916.70
192244.38%112.9316.70
19225-0.47%112.4016.70
192261.19%113.7416.70
192274.24%118.5616.80
192283.07%122.2016.60
192292.67%125.4616.60
192210-4.52%119.7916.70
1922110.25%120.0916.80
1922121.85%122.3116.90
192314.75%128.1216.80
192322.08%130.7816.80
19233-3.04%126.8016.80
19234-4.25%121.4116.90
19235-3.31%117.3916.90
19236-2.84%114.0617.00
192371.04%115.2417.20
192381.16%116.5817.10
19239-0.94%115.4917.20
1923103.54%119.5717.30
1923113.92%124.2517.30
1923123.79%128.9617.30
192410.95%130.2017.30
19242-1.42%128.3517.20
19243-1.79%126.0617.10
192440.17%126.2817.00
192452.42%129.3317.00
192465.16%136.0017.00
192473.93%141.3517.10
19248-0.48%140.6717.00
19249-0.81%139.5417.10
1924106.08%148.0317.20
1924115.87%156.7217.20
1924124.58%163.9017.30
192511.29%166.0117.30
19252-2.19%162.3817.20
19253-0.61%161.3917.30
192543.67%167.3117.20
192552.24%171.0617.30
192563.22%176.5717.50
192571.79%179.7317.70
192582.74%184.6617.70
192593.73%191.5417.70
1925103.53%198.2917.70
1925112.04%202.3318.00
1925121.93%206.2317.90
192610.56%207.3817.90
19262-6.38%194.1417.90
19263-2.35%189.5717.80
192641.15%191.7617.90
192655.22%201.7617.80
192664.66%211.1517.70
192674.39%220.4317.50
192681.94%224.7117.40
19269-1.83%220.5917.50
1926101.74%224.4317.60
1926112.71%230.5017.70
192612-0.24%229.9417.70
192712.37%235.4017.50
192721.97%240.0317.40
192732.88%246.9417.30
192743.87%256.4917.30
192751.70%260.8617.40
192762.62%267.7017.60
192775.73%283.0317.30
192786.06%300.1917.20
19279-1.17%296.6917.30
1927102.66%304.5717.40
1927112.72%312.8517.30
1927120.77%315.2517.30
19281-0.83%312.6417.30
192825.75%330.6117.10
192836.66%352.6317.10
192843.44%364.7417.10
19285-4.57%348.0917.20
192861.09%351.8917.10
192873.59%364.5317.10
192887.37%391.4117.10
192892.36%400.6417.30
1928107.08%429.0117.20
1928110.70%431.9917.20
1928127.69%465.2217.10
192910.81%469.0017.10
192922.05%478.6117.10
19293-0.30%477.1717.00
192941.80%485.7416.90
192952.20%496.4417.00
192969.20%542.1117.10
192975.96%574.4117.30
192984.24%598.7917.30
19299-10.32%536.9617.30
192910-26.19%396.3317.30
1929114.37%413.6617.30
1929121.83%421.2217.20
193016.64%449.1717.10
193024.12%467.6917.00
193036.69%498.9616.90
19304-5.65%470.7717.00
19305-9.77%424.7716.90
19306-1.76%417.3016.80
19307-0.90%413.5616.60
193080.34%414.9816.50
19309-13.37%359.4916.60
193010-6.80%335.0516.50
193011-6.19%314.3216.40
1930123.56%325.5016.10
193118.14%351.9915.90
193122.38%360.3715.70
19313-9.08%327.6515.60
19314-9.16%297.6315.50
19315-2.68%289.6615.30
193163.86%300.8315.10
19317-2.49%293.3615.10
19318-14.37%251.2115.10
19319-12.75%219.1815.00
1931102.05%223.6814.90
193111-18.10%183.1914.70
193112-0.85%181.6414.60
19321-0.05%181.5514.30
193221.14%183.6214.10
19323-23.22%140.9814.00
19324-11.31%125.0313.90
19325-12.39%109.5313.70
193266.18%116.3113.60
1932751.35%176.0413.60
1932810.37%194.2813.50
19329-13.22%168.6113.40
193210-0.34%168.0413.30
193211-2.64%163.6113.20
1932124.57%171.0813.10
19331-11.27%151.8112.90
193320.33%152.3112.70
1933311.24%169.4412.60
1933429.32%219.1112.60
1933517.58%257.6412.60
193368.46%279.4412.70
19337-4.64%266.4713.10
19338-0.48%265.1813.20
19339-9.38%240.3113.20
1933102.80%247.0513.20
1933112.32%252.7813.20
1933126.08%268.1613.20
193417.75%288.9413.20
19342-4.80%275.0813.30
193432.02%280.6313.30
19344-9.83%253.0613.30
193451.70%257.3613.30
19346-4.36%246.1613.40
19347-3.51%237.5013.40
19348-2.01%232.7313.40
193491.21%235.5513.60
1934103.21%243.1113.50
1934111.06%245.6813.50
1934120.40%246.6813.40
19351-2.62%240.2213.60
19352-5.93%225.9713.70
193537.94%243.9113.70
193548.27%264.0713.80
193554.17%275.0913.80
193565.60%290.5013.70
193577.10%311.1313.70
193582.43%318.7113.70
193592.99%328.2213.70
1935109.71%360.0913.70
1935110.29%361.1513.80
1935125.82%382.1813.80
193616.03%405.2313.80
193622.41%415.0013.80
193630.41%416.7213.70
19364-5.02%395.8113.70
193654.57%413.9113.70
193666.23%439.7113.80
193672.30%449.8213.90
193681.44%456.3114.00
193695.55%481.6414.00
1936103.10%496.5814.00
193611-1.40%489.6314.00
1936123.46%506.5614.00
193713.30%523.2914.10
193720.23%524.4914.10
19373-5.62%494.9914.20
19374-4.09%474.7614.30
19375-3.34%458.9114.40
193766.39%488.2614.40
193771.44%495.2714.50
19378-13.76%427.1114.50
19379-14.10%366.9014.60
193710-8.27%336.5714.60
193711-1.02%333.1414.50
1937123.24%343.9214.40
19381-1.80%337.7214.20
19382-6.02%317.4014.10
19383-3.44%306.4714.10
193841.56%311.2414.20
193852.93%320.3714.10
1938620.49%386.0014.10
193871.06%390.0814.10
19388-4.08%374.1514.10
1938911.62%417.6114.10
1938100.47%419.5614.00
193811-2.55%408.8614.00
193812-1.16%404.1114.00
19391-0.46%402.2614.00
193920.27%403.3313.90
19393-12.24%353.9613.90
193944.10%368.4513.80
193952.17%376.4613.80
193962.84%387.1313.80
19397-1.07%383.0013.80
1939811.06%425.3413.80
193991.38%431.2314.10
193910-1.41%425.1614.00
193911-1.97%416.7714.00
193912-0.15%416.1514.00
19401-0.23%415.2013.90
19402-0.15%414.6014.00
194031.42%420.4814.00
19404-13.34%364.3914.00
19405-8.09%334.8914.00
194063.87%347.8514.10
194072.65%357.0714.00
194084.76%374.0514.00
194091.47%379.5414.00
1940102.85%390.3614.00
194011-3.59%376.3414.00
1940120.72%379.0514.10
19411-5.72%357.3614.10
194121.18%361.5614.10
19413-2.55%352.3614.20
19414-1.59%346.7614.30
194154.11%361.0014.40
194165.71%381.6214.70
194170.08%381.9114.70
194180.86%385.2014.90
19419-3.43%371.9715.10
194110-4.08%356.7915.30
194111-5.88%335.8015.40
1941122.62%344.5915.50
19421-2.48%336.0415.70
19422-4.76%320.0415.80
19423-3.45%308.9916.00
194241.87%314.7716.10
194255.75%332.8616.30
194264.38%347.4516.30
194270.05%347.6016.40
194281.66%353.3816.50
194297.97%381.5416.50
1942102.15%389.7616.70
1942111.06%393.8816.80
1942126.50%419.4916.90
194316.43%446.4816.90
194324.01%464.4116.90
194333.79%481.9917.20
194344.36%503.0217.40
194352.18%513.9917.50
194362.47%526.7017.50
19437-4.54%502.7917.40
194382.55%515.6317.30
19439-0.50%513.0517.40
194310-4.21%491.4617.40
1943111.77%500.1617.40
1943123.67%518.5017.40
19441-0.24%517.2417.40
194423.24%534.0017.40
19443-1.31%527.0117.40
194442.20%538.6217.50
194455.14%566.3217.50
194463.02%583.4117.60
19447-1.06%577.2517.70
19448-1.23%570.1817.70
194492.88%586.6217.70
194410-0.28%584.9617.70
1944112.60%600.1717.70
1944123.38%620.4817.80
194513.73%643.6417.80
194520.31%645.6717.80
194532.90%664.4017.80
194544.16%692.0517.80
194552.19%707.1817.90
19456-1.70%695.1918.10
194570.71%700.1118.10
194587.18%750.3718.10
194594.51%784.2418.10
1945103.61%812.5218.10
1945112.02%828.9718.10
1945124.30%864.6118.20
194610.59%869.6718.20
19462-2.68%846.3918.10
194636.77%903.6818.30
194640.52%908.3618.40
19465-0.34%905.2918.50
19466-2.55%882.2218.70
19467-1.62%867.9019.80
19468-14.42%742.7320.20
19469-1.87%728.8220.40
194610-0.01%728.7320.80
1946113.39%753.4621.30
1946120.92%760.3921.50
194714.27%792.8621.50
19472-3.67%763.7421.50
19473-3.30%738.5521.90
19474-1.36%728.4921.90
194753.92%757.0521.90
194766.69%807.7322.00
19477-1.56%795.1322.20
19478-2.17%777.9022.50
194793.03%801.4523.00
194710-0.73%795.6023.00
194711-1.12%786.6723.10
194712-0.86%779.8723.40
19481-4.45%745.1723.70
194821.92%759.4723.50
194838.19%821.6523.40
194845.33%865.4523.80
194854.59%905.1523.90
19486-1.96%887.4424.10
19487-2.49%865.3524.40
19488-0.68%859.4924.50
194893.19%886.8924.50
194810-5.10%841.6524.40
194811-0.16%840.3224.20
1948121.63%854.0124.10
19491-3.33%825.5924.00
194921.49%837.9123.80
194930.41%841.3723.80
19494-0.18%839.8323.90
19495-4.91%798.5823.80
194966.26%848.5923.90
194974.17%883.9823.70
194981.87%900.5223.80
194993.14%928.8223.90
1949101.95%946.9123.70
1949113.24%977.6023.80
1949122.63%1,003.3123.60
195012.52%1,028.6223.50
195021.38%1,042.7723.50
195033.39%1,078.0823.60
195043.91%1,120.2823.60
195052.16%1,144.5323.70
19506-6.72%1,067.5723.80
195076.64%1,138.4424.10
195084.11%1,185.2124.30
195094.72%1,241.1724.40
1950100.38%1,245.8424.60
1950110.19%1,248.2624.70
1950128.01%1,348.2825.00
195114.31%1,406.3725.40
19512-1.11%1,390.7325.70
195131.93%1,417.5225.80
195140.63%1,426.4325.80
19515-1.15%1,410.1025.90
195162.37%1,443.4725.90
195174.97%1,515.1425.90
195183.14%1,562.6525.90
195190.03%1,563.1026.10
195110-2.25%1,527.8726.20
1951113.61%1,583.0826.40
1951123.83%1,643.7726.50
19521-1.33%1,621.8726.50
195220.75%1,634.0326.30
195230.20%1,637.3526.30
195240.46%1,644.8826.40
195253.24%1,698.2526.40
195263.37%1,755.4326.50
195270.88%1,770.8926.70
19528-1.11%1,751.2526.70
19529-1.61%1,723.0426.70
1952103.67%1,786.2426.70
1952114.51%1,866.7826.70
1952120.99%1,885.2426.70
19531-0.77%1,870.6626.60
195320.96%1,888.5626.50
19533-4.47%1,804.0926.60
195341.00%1,822.1826.60
19535-3.11%1,765.5526.70
195361.91%1,799.3426.80
195370.90%1,815.5126.80
19538-4.11%1,740.9526.90
195393.52%1,802.1726.90
1953102.71%1,850.9827.00
1953111.84%1,884.9826.90
1953123.02%1,941.9826.90
195412.68%1,993.9526.90
195422.58%2,045.4426.90
195434.45%2,136.4826.90
195444.42%2,230.9626.80
195451.22%2,258.2526.90
195464.46%2,358.9126.90
195472.39%2,415.3826.90
195482.74%2,481.5626.90
195492.71%2,548.8326.80
1954104.30%2,658.4826.80
1954114.95%2,790.1726.80
1954122.17%2,850.6726.70
195513.70%2,956.2826.70
19552-0.44%2,943.3826.70
195533.81%3,055.4726.70
19554-0.08%3,053.0726.70
195556.15%3,240.6826.70
195567.64%3,488.4026.70
19557-0.30%3,477.9626.80
195584.82%3,645.4726.80
19559-4.72%3,473.2326.90
1955107.07%3,718.6526.90
1955111.24%3,764.6626.90
195512-2.39%3,674.7726.80
195610.95%3,709.6626.80
195627.21%3,976.9826.80
195631.48%4,035.9526.80
19564-2.84%3,921.3926.90
19565-0.26%3,911.1127.00
195665.75%4,135.9627.20
19567-0.28%4,124.1827.40
19568-3.09%3,996.7927.30
19569-0.95%3,958.6827.40
195610-0.71%3,930.4727.50
1956111.81%4,001.5827.50
195612-1.86%3,927.0427.60
19571-4.00%3,770.1327.60
195721.62%3,831.2227.70
195732.64%3,932.5227.80
195744.16%4,096.1227.90
195751.95%4,176.1728.00
195762.32%4,273.1428.10
19577-5.21%4,050.7228.30
19578-3.74%3,899.2528.30
19579-5.90%3,669.3228.30
195710-1.80%3,603.2628.30
1957110.32%3,614.7228.40
1957122.33%3,698.8928.40
195810.70%3,724.8628.60
195822.42%3,814.9628.60
195830.90%3,849.1628.80
195843.56%3,986.1028.90
195852.74%4,095.1328.90
195863.07%4,220.8828.90
195874.05%4,392.0129.00
195882.94%4,521.3028.90
195894.36%4,718.3828.90
1958103.33%4,875.3328.90
1958112.16%4,980.7529.00
1958124.25%5,192.6728.90
19591-1.27%5,126.9829.00
195922.81%5,270.8528.90
195931.94%5,372.9228.90
195941.77%5,467.7729.00
19595-0.61%5,434.6329.00
195964.23%5,664.3829.10
19597-0.32%5,646.3429.20
19598-3.70%5,437.2429.20
195990.18%5,446.8529.30
1959100.67%5,483.3029.40
1959113.46%5,673.1929.40
195912-1.49%5,588.9029.40
19601-3.61%5,387.1829.30
19602-1.08%5,329.1029.40
196031.58%5,413.5329.40
19604-0.62%5,379.7229.50
196053.99%5,594.2629.50
19606-2.20%5,471.4129.60
196071.49%5,552.9829.60
19608-2.72%5,401.9029.60
19609-1.67%5,311.4729.60
1960103.54%5,499.5429.80
1960112.69%5,647.5129.80
1960125.43%5,954.0029.80
196114.37%6,214.4429.80
196123.40%6,425.5429.80
196132.92%6,613.1129.80
196141.26%6,696.6529.80
19615-1.08%6,624.3229.80
19616-0.03%6,622.4729.80
196173.84%6,876.7030.00
19618-0.54%6,839.4529.90
196191.34%6,931.3130.00
1961104.77%7,262.0730.00
1961111.16%7,346.5330.00
196112-3.49%7,090.3530.00
196211.91%7,225.7430.00
196220.34%7,250.3830.10
19623-2.94%7,036.8630.10
19624-7.19%6,531.2530.20
19625-11.41%5,785.8630.20
196262.72%5,943.0830.20
196273.02%6,122.7430.30
19628-0.59%6,086.4130.30
19629-2.86%5,912.5730.40
1962107.20%6,338.3230.40
1962114.62%6,631.3930.40
1962124.15%6,906.3730.40
196311.60%7,016.5730.40
19632-0.11%7,008.9730.40
196334.98%7,357.8930.50
196342.27%7,524.8830.50
196350.22%7,541.1830.50
19636-1.22%7,449.0430.60
196373.03%7,674.8330.70
196382.89%7,896.9130.70
196390.50%7,936.3830.70
196310-0.31%7,912.0530.80
1963112.39%8,101.4230.80
1963123.33%8,371.2130.90
196411.48%8,495.0930.90
196422.07%8,671.0330.90
196431.69%8,817.8430.90
196441.22%8,925.4530.90
19645-0.35%8,894.1530.90
196463.96%9,246.4531.00
19647-1.23%9,133.1231.10
196481.97%9,312.6331.00
196491.97%9,496.1031.10
1964100.94%9,585.0831.10
196411-1.49%9,442.2331.20
1964122.82%9,708.5731.20
196510.98%9,803.2431.20
196520.34%9,836.1431.20
196531.56%9,989.3531.30
196541.73%10,162.4231.40
19655-4.51%9,704.3731.40
196560.10%9,714.3531.60
196572.12%9,920.1631.60
196583.60%10,276.9031.60
196592.50%10,533.5031.60
1965101.08%10,646.8331.70
196511-0.21%10,624.3031.70
1965121.98%10,834.7131.80
19661-0.43%10,788.0831.80
19662-3.86%10,371.4132.00
196633.32%10,715.8432.10
19664-5.01%10,179.2332.30
19665-0.56%10,122.2832.30
196660.02%10,124.1432.40
19667-5.77%9,540.0332.50
19668-3.22%9,232.3832.70
19669-0.56%9,180.2732.70
1966105.32%9,668.3032.90
1966110.72%9,737.5132.90
1966124.13%10,139.6932.90
196713.73%10,517.9132.90
196722.63%10,794.9232.90
196731.99%11,010.0133.00
196742.06%11,236.5633.10
19675-0.99%11,125.1133.20
196761.99%11,346.7733.30
196771.85%11,556.8733.40
196781.65%11,748.0133.50
196790.10%11,759.4533.60
196710-2.88%11,420.5833.70
1967113.11%11,775.9633.80
196712-0.02%11,773.9033.90
19681-4.26%11,272.6834.10
19682-1.56%11,096.9234.20
196837.66%11,947.1334.30
196842.56%12,252.7034.40
196852.94%12,613.0234.50
196860.05%12,619.1934.70
19687-1.93%12,375.1434.90
196883.51%12,809.2235.00
196892.72%13,157.2735.10
1968101.79%13,392.2335.30
1968111.29%13,564.3635.40
196812-3.99%13,023.8035.50
19691-0.24%12,992.7335.60
19692-1.91%12,744.0835.80
196932.27%13,033.9136.10
196943.51%13,491.8636.30
19695-4.97%12,821.1436.40
19696-4.21%12,281.9636.60
19697-0.28%12,247.1336.80
196980.63%12,324.1137.00
196991.35%12,490.0437.10
1969101.00%12,614.6237.30
196911-5.03%11,980.4337.50
196912-0.59%11,909.8637.70
19701-3.20%11,529.2137.80
197022.01%11,761.2138.00
19703-2.75%11,438.0438.20
19704-11.20%10,157.1038.50
19705-0.27%10,129.6838.60
197060.52%10,182.6238.80
197073.26%10,514.1439.00
197086.32%11,178.7739.00
197092.49%11,457.0739.20
1970100.21%11,480.7539.40
1970117.16%12,302.5939.60
1970124.11%12,808.3139.80
197114.15%13,339.9939.80
197122.83%13,717.7539.90
197133.67%14,221.7340.00
19714-1.11%14,064.1740.10
19715-1.60%13,839.7240.30
19716-0.46%13,775.6540.60
19717-1.52%13,566.6640.70
197182.49%13,903.9840.80
19719-1.86%13,644.8540.80
197110-4.37%13,048.3740.90
1971117.16%13,983.1040.90
1971124.42%14,601.5141.10
197212.09%14,906.2441.10
197222.62%15,296.7241.30
197231.26%15,489.2941.40
19724-0.78%15,369.1141.50
197250.52%15,448.4341.60
19726-0.50%15,370.5941.70
197273.78%15,952.1741.90
19728-1.21%15,759.0742.00
197290.42%15,824.8642.10
1972105.25%16,656.3342.30
1972112.31%17,041.3442.40
1972120.99%17,209.9442.50
19731-3.33%16,637.6942.60
19732-1.35%16,413.8542.90
19733-1.63%16,145.7743.30
19734-2.57%15,730.8643.60
19735-1.99%15,417.8543.90
197361.21%15,604.4444.20
19737-1.64%15,349.2444.30
197382.00%15,655.5045.10
197394.24%16,318.5645.20
197310-6.85%15,200.2845.60
197311-6.81%14,165.8545.90
1973121.70%14,406.7346.20
19741-2.47%14,050.4846.60
197424.57%14,693.2347.20
19743-4.82%13,985.5147.80
19744-2.71%13,607.1148.00
197450.46%13,669.3348.60
19746-11.35%12,118.2949.00
19747-3.76%11,662.0749.40
19748-10.01%10,494.2750.00
197492.38%10,743.7250.60
1974103.74%11,145.9051.10
197411-6.09%10,466.9151.50
1974128.63%11,370.5051.90
1975110.81%12,599.3752.10
197524.97%13,226.0152.50
197531.49%13,422.6952.70
197546.71%14,323.7052.90
197552.89%14,738.3253.20
197560.43%14,801.9953.60
19757-7.00%13,766.4154.20
19758-0.85%13,649.0254.30
197594.97%14,327.5554.60
1975102.04%14,620.0854.90
197511-1.18%14,447.6155.30
1975129.55%15,826.6855.50
197614.18%16,487.9455.60
197620.80%16,620.2455.80
197631.10%16,802.3155.90
19764-0.38%16,737.9156.10
197650.90%16,888.6456.50
197662.67%17,338.7956.80
19767-0.56%17,241.5857.10
197682.44%17,661.9157.40
19769-3.11%17,112.9457.60
197610-0.37%17,050.2057.90
1976113.79%17,695.8158.00
197612-0.54%17,600.7358.20
19771-2.37%17,183.8458.50
19772-0.05%17,174.5359.10
19773-1.19%16,969.5359.50
197740.06%16,980.4760.00
197750.90%17,133.2660.30
197761.28%17,352.9860.70
19777-2.08%16,992.2861.00
19778-1.18%16,792.5661.20
19779-2.20%16,423.4861.40
1977100.98%16,584.6261.60
197711-0.08%16,571.3361.90
197712-3.39%16,009.5062.10
19781-0.97%15,853.8962.50
197820.27%15,896.0162.90
197834.83%16,663.7963.40
197845.50%17,581.0263.90
197850.67%17,699.4364.50
19786-0.06%17,688.4165.20
197877.33%18,984.6465.70
197880.40%19,060.5266.00
19789-2.77%18,531.8866.50
197810-5.44%17,524.1867.10
1978111.92%17,861.1467.40
1978124.19%18,608.6867.70
19791-1.06%18,412.0068.30
197922.34%18,843.0569.10
197932.43%19,301.1169.80
19794-1.89%18,935.7370.60
197952.42%19,393.5371.50
197961.42%19,669.0872.30
197975.01%20,655.3573.10
197981.54%20,973.5473.80
19799-3.35%20,270.4074.60
197910-0.32%20,205.0475.20
1979114.40%21,094.8775.90
1979123.31%21,793.6376.70
198014.40%22,751.6477.80
19802-8.78%20,754.5478.90
19803-1.16%20,513.3780.10
198045.04%21,546.4581.00
198056.86%23,025.1181.80
198064.97%24,169.3482.70
198073.50%25,016.3982.70
198082.84%25,725.8183.30
198093.32%26,581.1484.00
1980104.61%27,807.7784.80
198011-1.24%27,461.6385.50
1980120.01%27,464.3786.30
19811-3.07%26,621.1787.00
198124.14%27,724.1687.90
198131.29%28,082.8688.50
19814-1.62%27,628.6889.10
198150.86%27,865.6289.80
19816-2.02%27,303.7890.60
198170.80%27,522.9191.60
19818-8.30%25,237.7792.30
198191.73%25,673.6993.20
1981103.04%26,455.1393.40
1981111.18%26,767.1393.70
198112-4.80%25,481.2194.00
19821-1.91%24,993.5294.30
19822-2.74%24,307.5694.60
198235.47%25,637.0294.50
198240.57%25,783.0694.90
19825-5.27%24,424.1395.80
198260.24%24,483.6997.00
198270.79%24,678.0997.50
1982812.10%27,663.2497.70
198298.88%30,120.1297.90
1982104.50%31,475.5098.20
1982111.36%31,902.1598.00
1982123.93%33,154.5597.60
198312.13%33,860.7597.80
198323.87%35,169.6897.90
198334.20%36,645.8997.90
198344.42%38,267.1098.60
198351.75%38,938.1299.20
198360.71%39,213.8599.50
19837-2.41%38,269.9099.90
198383.31%39,538.10100.20
198390.65%39,794.28100.70
198310-1.14%39,340.06101.00
198311-0.13%39,289.65101.20
1983121.58%39,908.83101.30
19841-5.11%37,868.62101.90
198420.44%38,036.14102.40
198430.51%38,229.06102.60
19844-0.25%38,132.50103.10
19845-1.85%37,427.70103.40
19846-0.91%37,087.68103.70
198479.21%40,502.18104.10
198481.41%41,072.04104.50
19849-0.41%40,902.66105.00
1984101.29%41,428.62105.30
198411-0.71%41,135.49105.30
1984124.70%43,067.86105.30
198515.79%45,560.35105.50
19852-0.48%45,342.43106.00
198531.02%45,807.06106.40
198542.74%47,060.17106.90
198552.51%48,241.84107.30
198562.25%49,325.94107.60
19857-1.85%48,415.72107.80
19858-1.88%47,503.09108.00
198591.50%48,213.53108.30
1985106.42%51,309.08108.70
1985115.29%54,025.65109.00
1985120.75%54,431.78109.30
198615.70%57,532.89109.60
198626.18%61,090.02109.30
198632.74%62,764.75108.80
198640.49%63,073.45108.60
198653.13%65,049.69108.90
19866-1.80%63,876.25109.50
198672.28%65,333.18109.50
19868-2.46%63,728.44109.70
19869-0.09%63,671.17110.20
1986103.53%65,920.64110.30
1986111.71%67,047.18110.40
1986126.67%71,521.49110.50
198716.46%76,143.12111.20
198724.38%79,475.45111.60
19873-0.86%78,794.82112.10
198740.17%78,931.00112.70
198754.50%82,481.66113.10
198763.12%85,056.82113.50
198776.45%90,546.40113.80
19878-3.03%87,802.46114.40
19879-11.85%77,394.45115.00
198710-12.30%67,872.29115.30
198711-1.33%66,966.41115.40
1987124.25%69,810.16115.40
198813.33%72,133.84115.70
198823.23%74,465.25116.00
19883-0.89%73,805.47116.50
19884-2.19%72,190.41117.10
198856.00%76,520.53117.50
19886-0.31%76,285.68118.00
19887-1.72%74,974.72118.50
198881.93%76,419.61119.00
198893.80%79,324.79119.80
198810-2.02%77,722.23120.20
1988112.33%79,530.01120.30
1988123.51%82,323.63120.50
198913.30%85,040.19121.10
19892-0.16%84,902.71121.60
198933.56%87,929.32122.30
198944.12%91,547.88123.10
198953.39%94,653.76123.80
198962.80%97,304.23124.10
198974.69%101,868.53124.40
198980.46%102,332.58124.60
198990.29%102,625.51125.00
198910-1.81%100,764.34125.60
1989112.74%103,521.97125.90
198912-2.21%101,232.86126.10
19901-2.53%98,674.52127.40
199022.71%101,345.81128.00
199030.20%101,544.43128.70
199043.85%105,454.83128.90
199053.17%108,797.70129.20
199060.17%108,982.36129.90
19907-7.86%100,415.01130.40
19908-4.34%96,055.93131.60
19909-2.32%93,831.50132.70
1990102.98%96,631.26133.50
1990114.59%101,063.35133.80
199012-0.69%100,370.89133.80
1991111.61%112,020.72134.60
199123.04%115,431.32134.80
199132.26%118,038.72135.00
19914-0.18%117,827.57135.20
199150.35%118,236.45135.60
199160.78%119,159.27136.00
199172.68%122,351.46136.20
19918-0.30%121,980.61136.60
199190.18%122,202.19137.20
1991100.02%122,221.49137.40
1991110.94%123,364.43137.80
1991127.36%132,441.62137.90
19921-0.60%131,645.85138.10
19922-1.01%130,313.09138.60
199230.26%130,657.52139.30
199242.07%133,359.97139.50
19925-1.33%131,587.45139.70
199261.91%134,103.58140.20
199270.94%135,366.46140.50
199280.38%135,878.40140.90
19929-1.18%134,272.24141.30
1992102.76%137,974.00141.80
1992113.27%142,487.40142.00
1992120.14%142,691.01141.90
199311.72%145,151.35142.60
199322.15%148,272.33143.10
19933-1.34%146,282.89143.60
199340.72%147,343.04144.00
199350.87%148,617.83144.20
199360.06%148,708.49144.40
199371.76%151,329.43144.40
199381.35%153,379.90144.80
199391.24%155,284.73145.10
1993100.01%155,296.45145.70
1993110.89%156,674.21145.80
1993121.74%159,393.88145.80
19941-0.08%159,273.22146.20
19942-1.42%157,005.46146.70
19943-3.35%151,751.46147.20
199441.06%153,357.36147.40
199451.11%155,056.70147.50
19946-0.52%154,252.15148.00
199473.08%159,006.32148.40
199480.82%160,306.15149.00
19949-0.44%159,594.38149.40
199410-0.37%159,004.06149.50
199411-1.03%157,373.15149.70
1994122.45%161,230.64149.70
199513.82%167,388.19150.30
199522.56%171,670.26150.90
199533.22%177,190.41151.40
199543.35%183,122.32151.90
199553.18%188,942.72152.20
199563.55%195,645.42152.50
199570.51%196,649.33152.50
199583.72%203,960.09152.90
199590.91%205,821.36153.20
1995102.36%210,675.42153.70
1995113.39%217,815.51153.60
1995120.16%218,169.63153.50
199615.90%231,051.22154.40
19962-0.20%230,587.51154.90
199630.20%231,041.86155.70
199642.35%236,482.50156.30
199651.28%239,506.15156.60
19966-3.48%231,179.56156.70
199673.08%238,290.07157.00
199682.02%243,112.41157.30
199694.12%253,127.42157.80
1996105.05%265,915.63158.30
1996111.20%269,101.90158.60
1996123.26%277,868.00158.60
199714.36%289,986.28159.10
19972-0.62%288,177.68159.60
19973-3.41%278,364.52160.00
199749.22%304,023.69160.20
199755.34%320,248.90160.10
199765.74%338,618.14160.30
199770.35%339,795.82160.50
199781.19%343,846.21160.80
199791.65%349,503.77161.20
199710-1.15%345,477.34161.60
1997112.63%354,579.34161.50
1997120.24%355,420.01161.30
199816.40%378,174.56161.60
199825.31%398,266.49161.90
199833.41%411,830.15162.20
19984-0.22%410,916.48162.50
199850.12%411,395.02162.80
199864.47%429,774.78163.00
19987-6.97%399,815.15163.20
19988-4.90%380,230.40163.40
199891.29%385,138.63163.60
19981010.97%427,405.22164.00
1998114.10%444,946.38164.00
1998125.05%467,405.88163.90
19991-0.07%467,094.08164.30
199922.92%480,749.62164.50
199934.25%501,181.58165.00
19994-0.10%500,686.26166.20
19995-0.61%497,623.22166.20
199964.52%520,127.67166.20
19997-3.77%500,496.05166.70
19998-0.60%497,503.00167.10
19999-1.27%491,172.41167.90
1999107.11%526,074.88168.20
1999112.81%540,850.91168.30
199912-0.12%540,207.66168.30
20001-2.48%526,820.89168.80
200023.94%547,582.66169.80
200031.42%555,383.88171.20
20004-2.84%539,617.68171.30
200053.16%556,688.38171.50
200060.85%561,422.13172.40
200070.94%566,697.88172.80
20008-1.08%560,579.52172.80
20009-5.21%531,349.62173.70
200010-0.77%527,244.60174.00
200011-3.32%509,739.69174.10
2000120.46%512,059.05174.00
20011-2.14%501,120.15175.10
20012-9.08%455,618.92175.80
200130.45%457,663.26176.20
200146.88%489,147.43176.90
20015-2.39%477,463.40177.70
20016-2.66%464,761.79178.00
20017-2.05%455,253.51177.50
20018-11.25%404,049.67177.50
200193.18%416,914.74178.30
2001105.05%437,982.05177.70
2001111.47%444,403.09177.40
200112-0.30%443,080.14176.70
20021-3.35%428,224.69177.10
200224.95%449,401.56177.80
20023-3.51%433,607.65178.80
20024-2.82%421,378.30179.80
20025-5.92%396,428.67179.80
20026-10.76%353,778.89179.90
200271.14%357,807.69180.10
20028-4.76%340,784.17180.70
20029-1.37%336,125.50181.00
2002106.63%358,395.76181.30
200211-1.04%354,686.14181.30
200212-0.22%353,896.90180.90
20031-6.41%331,195.00181.70
200321.31%335,526.69183.10
200335.29%353,262.16184.20
200345.31%372,028.19183.80
200355.70%393,249.37183.50
200360.60%395,592.74183.70
20037-0.17%394,934.78183.90
200383.16%407,419.38184.60
200392.03%415,681.15185.20
2003101.21%420,713.33185.00
2003113.06%433,603.18184.50
2003124.93%455,001.33184.30
200411.09%459,945.66185.20
20042-1.57%452,746.61186.20
200430.97%457,129.81187.40
20044-2.56%445,407.85188.00
200452.86%458,136.16189.10
20046-2.24%447,879.51189.70
20047-1.39%441,664.86189.40
200482.78%453,954.74189.50
200490.10%454,420.47189.90
2004104.77%476,114.04190.90
2004112.73%489,099.79191.00
200412-1.35%482,500.75190.30
200511.68%490,612.59190.70
20052-0.26%489,358.64191.80
20053-2.41%477,570.39193.30
200541.34%483,950.11194.60
200552.18%494,503.60194.40
200561.81%503,443.19194.50
200570.31%505,003.96195.40
200580.28%506,416.41196.40
20059-2.62%493,126.93198.80
2005103.96%512,662.36199.20
2005112.14%523,654.51197.60
2005121.47%531,335.32196.80
20061-0.02%531,246.91198.30
200621.49%539,141.97198.70
200630.80%543,446.11199.80
20064-0.79%539,171.17201.50
20065-2.71%524,582.31202.50
200660.72%528,359.52202.90
200672.29%540,468.25203.50
200682.53%554,148.44203.90
200693.62%574,185.96202.90
2006102.00%585,679.12201.80
2006112.15%598,261.05201.50
2006120.69%602,405.97201.80
200711.60%612,020.65202.42
20072-2.47%596,879.93203.50
200734.18%621,831.06205.35
200743.39%642,922.04206.69
200750.34%645,139.48207.95
200760.57%648,846.58208.35
20077-4.20%621,587.84208.30
200783.07%640,700.07207.92
200792.99%659,867.46208.49
200710-4.81%628,152.19208.94
2007111.24%635,930.10210.18
200712-6.64%593,734.88210.04
20081-1.56%584,449.07211.08
20082-2.63%569,097.72211.69
200834.24%593,249.11213.53
200842.56%608,451.73214.82
20085-4.25%582,613.33216.63
20086-6.08%547,199.35218.82
200872.11%558,748.18219.96
20088-4.85%531,662.66219.09
20089-20.19%424,300.91218.78
200810-8.61%387,788.34216.57
200811-0.35%386,426.36212.43
200812-1.10%382,192.84210.23
20091-6.70%356,576.34211.14
20092-5.69%336,296.29212.19
2009312.32%377,733.87212.71
200946.66%402,890.28213.24
200952.87%414,448.64213.86
200961.28%419,743.81215.69
200978.12%453,830.13215.35
200983.65%470,396.49215.83
200992.40%481,700.63215.97
2009102.09%491,789.01216.18
2009112.23%502,735.53216.33
2009121.36%509,557.49215.95
20101-2.90%494,788.10216.69
201025.94%524,193.54216.74
201034.09%545,622.20217.63
20104-5.88%513,526.54218.01
20105-3.54%495,329.40218.18
20106-0.16%494,541.46217.97
201070.86%498,812.38218.01
201083.37%515,628.12218.31
201094.58%539,230.67218.44
2010102.49%552,662.44218.71
2010113.71%573,186.87218.80
2010123.46%593,031.70219.18
201113.15%611,717.32220.22
20112-1.11%604,912.21221.31
201132.22%618,347.20223.47
201140.66%622,423.56224.91
20115-3.66%599,626.68225.96
201163.10%618,225.51225.72
20117-10.40%553,926.06225.92
20118-0.79%549,554.23226.55
201193.02%566,144.75226.89
2011101.77%576,149.22226.42
2011111.55%585,106.91226.23
2011124.78%613,089.99225.67
201214.16%638,610.52226.67
201222.88%657,027.01227.66
20123-0.04%656,775.96229.39
20124-3.09%636,475.33230.09
20125-1.15%629,140.52229.82
201262.92%647,518.26229.48
201273.39%669,454.24229.10
201283.02%689,679.56230.38
20129-0.22%688,182.03231.41
201210-2.84%668,654.90231.32
2012112.18%683,201.73230.22
2012124.27%712,365.98229.60
201312.33%728,985.63230.28
201322.72%748,831.93232.17
201331.45%759,718.39232.77
201344.57%794,469.95232.53
20135-1.12%785,589.57232.95
201363.25%811,156.40233.50
201370.25%813,204.80233.60
201381.19%822,902.00233.88
201392.12%840,327.36234.15
2013103.86%872,763.95233.55
2013111.52%886,044.46233.07
2013120.97%894,619.67233.05
20141-0.13%893,456.34233.92
201422.72%917,778.63234.78
201430.20%919,630.01236.29
201441.53%933,719.06237.07
201453.20%963,563.69237.90
201461.50%977,976.89238.34
20147-0.43%973,801.41238.25
201481.78%991,115.92237.85
20149-2.65%964,885.21238.03
2014105.71%1,019,938.21237.43
2014110.63%1,026,403.47236.15
201412-1.11%1,015,009.92234.81
201512.83%1,043,708.29233.71
201520.06%1,044,286.13234.72
201530.88%1,053,459.24236.12
201540.98%1,063,771.59236.60
20155-0.44%1,059,138.86237.81
20156-0.08%1,058,295.47238.64
20157-2.42%1,032,638.18238.65
20158-4.51%986,096.19238.32
201594.32%1,028,667.14237.95
2015102.93%1,058,832.50237.84
201511-1.10%1,047,153.89237.34
201512-6.42%979,930.58236.53
20161-0.55%974,541.85236.92
201626.36%1,036,549.29237.11
201632.83%1,065,896.70238.13
20164-0.30%1,062,652.48239.26
201651.07%1,073,985.56240.23
201663.30%1,109,399.58241.02
201671.20%1,122,704.13240.63
20168-0.44%1,117,779.15240.85
20169-0.51%1,112,123.40241.43
2016101.20%1,125,481.79241.73
2016113.95%1,169,892.90241.35
2016121.44%1,186,711.68241.43
201712.58%1,217,286.66242.84
201721.75%1,238,580.13243.60
20173-0.15%1,236,672.67243.80
201741.69%1,257,601.79244.52
201751.78%1,279,942.18244.73
201760.99%1,292,586.52244.96
201770.25%1,295,789.62244.79
201781.65%1,317,212.43245.52
201792.73%1,353,235.54246.82
2017101.59%1,374,746.16246.66
2017112.88%1,414,386.77246.67
2017124.86%1,483,152.82246.52
20181-2.89%1,440,338.85247.87
201820.06%1,441,268.99248.99
20183-1.66%1,417,286.68249.55
201841.96%1,445,088.48250.55
201852.11%1,475,622.76251.59
201861.58%1,498,948.55251.99
201872.45%1,535,684.85252.01
201881.68%1,561,480.48252.15
20189-3.85%1,501,379.32252.44
201810-2.08%1,470,209.05252.89
201811-5.56%1,388,428.50252.04
2018121.74%1,412,526.57251.23
201915.83%1,494,861.36251.71
201921.95%1,523,981.59252.78
201933.72%1,580,722.77254.20
20194-1.53%1,556,509.44255.55
201951.40%1,578,374.50256.09
201963.83%1,638,784.32256.14
20197-3.13%1,587,418.03256.57
201983.09%1,636,393.49256.56
201990.01%1,636,553.90256.76
2019104.43%1,709,113.66257.35
2019112.47%1,751,317.14257.21
2019123.35%1,809,923.18256.97
202010.12%1,812,132.67257.97
20202-18.92%1,469,318.69258.68
202034.32%1,532,772.90258.12
202045.89%1,623,012.84256.39
202056.51%1,728,642.93256.39
202063.48%1,788,738.07257.80
202075.89%1,894,157.44259.10
20208-0.63%1,882,281.02259.92
202091.73%1,914,769.22260.28
2020103.95%1,990,481.42260.39
2020114.26%2,075,277.53260.23
2020122.80%2,133,287.76260.47
202112.49%2,186,439.23261.58
202120.82%2,204,397.72263.01
202136.02%2,337,135.22264.88
202140.76%2,354,902.86267.05
202151.81%2,397,536.56269.20
202163.07%2,471,097.81271.70
202172.19%2,525,095.30273.00
20218-0.08%2,522,961.62273.57
202190.45%2,534,369.85274.31
2021104.74%2,654,619.22276.59
2021110.27%2,661,664.67277.95
202112-2.05%2,607,048.57278.80
20221-2.90%2,531,377.16281.15
20222-0.89%2,508,782.50283.72
202230.12%2,511,750.44287.50
20224-7.87%2,314,007.10289.11
20225-3.37%2,236,039.30292.30
202260.46%2,246,429.84296.31
202276.45%2,391,266.02296.28
20228-7.28%2,217,243.93296.17
20229-3.09%2,148,705.04296.81
2022105.29%2,262,266.12298.01
2022110.01%2,262,511.29297.71
2022121.38%2,293,653.77296.80
202313.15%2,365,834.41299.17
20232-2.59%2,304,667.48300.84
202334.00%2,396,767.10301.84
202340.74%2,414,447.93303.36
202354.94%2,533,774.46304.13
202363.88%2,631,984.62305.11
20237-1.00%2,605,726.97305.69
20238-0.95%2,580,879.36307.03
20239-3.04%2,502,489.98307.79
2023104.60%2,617,647.66307.67
2023115.18%2,753,117.39307.05
2023122.91%2,833,283.68306.75
202414.20%2,952,260.95308.42
202423.28%3,049,157.70310.33
20243-1.01%3,018,387.79312.33
202442.52%3,094,351.95313.55
202455.34%3,259,702.36314.07
Click to show 1242 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 1920. This would result in a final amount of $3,640,270.10, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $3,259,702.36).

YearMonthContribution ($)Amount ($)
192014.163.82
192024.168.56
192034.1612.66
192044.1615.83
192054.1619.72
192064.1623.96
192074.1627.15
192084.1632.58
192094.1636.96
1920104.1639.24
1920114.1639.73
1920124.1646.07
192114.1650.15
192124.1653.23
192134.1657.96
192144.1664.35
192154.1663.39
192164.1667.74
192174.1671.43
192184.1677.91
192194.1683.65
1921104.1693.01
1921114.16101.13
1921124.32105.83
19221-108.71
19222-113.36
19223-120.82
19224-126.11
19225-125.52
19226-127.02
19227-132.40
19228-136.47
19229-140.10
192210-133.78
192211-134.11
192212-136.59
19231-143.08
19232-146.05
19233-141.61
19234-135.59
19235-131.10
19236-127.38
19237-128.70
19238-130.19
19239-128.97
192310-133.53
192311-138.76
192312-144.02
19241-145.40
19242-143.34
19243-140.78
19244-141.02
19245-144.43
19246-151.88
19247-157.85
19248-157.10
19249-155.83
192410-165.31
192411-175.01
192412-183.04
19251-185.39
19252-181.34
19253-180.24
19254-186.85
19255-191.03
19256-197.19
19257-200.71
19258-206.21
19259-213.90
192510-221.44
192511-225.95
192512-230.30
19261-231.59
19262-216.81
19263-211.70
19264-214.15
19265-225.32
19266-235.81
19267-246.17
19268-250.95
19269-246.35
192610-250.63
192611-257.41
192612-256.79
19271-262.88
19272-268.05
19273-275.77
19274-286.43
19275-291.31
19276-298.96
19277-316.07
19278-335.24
19279-331.33
192710-340.13
192711-349.37
192712-352.06
19281-349.14
19282-369.20
19283-393.80
19284-407.33
19285-388.73
19286-392.97
19287-407.08
19288-437.10
19289-447.41
192810-479.10
192811-482.43
192812-519.54
19291-523.75
19292-534.49
19293-532.88
19294-542.45
19295-554.40
19296-605.40
19297-641.47
19298-668.70
19299-599.65
192910-442.60
192911-461.96
192912-470.39
19301-501.61
19302-522.29
19303-557.22
19304-525.73
19305-474.37
19306-466.02
19307-461.84
19308-463.43
19309-401.46
193010-374.16
193011-351.01
193012-363.50
19311-393.08
19312-402.44
19313-365.90
19314-332.38
19315-323.48
19316-335.95
19317-327.61
19318-280.53
19319-244.77
193110-249.79
193111-204.58
193112-202.84
19321-202.75
19322-205.06
19323-157.44
19324-139.62
19325-122.32
19326-129.89
19327-196.59
19328-216.97
19329-188.29
193210-187.66
193211-182.71
193212-191.06
19331-169.53
19332-170.10
19333-189.22
19334-244.70
19335-287.72
19336-312.07
19337-297.58
19338-296.14
19339-268.37
193310-275.89
193311-282.29
193312-299.47
19341-322.68
19342-307.19
19343-313.40
19344-282.60
19345-287.41
19346-274.89
19347-265.23
19348-259.91
19349-263.05
193410-271.49
193411-274.37
193412-275.48
19351-268.26
19352-252.36
19353-272.39
19354-294.90
19355-307.21
19356-324.41
19357-347.46
19358-355.91
19359-366.54
193510-402.13
193511-403.32
193512-426.80
19361-452.54
19362-463.45
19363-465.38
19364-442.02
19365-462.23
19366-491.05
19367-502.33
19368-509.59
19369-537.87
193610-554.55
193611-546.79
193612-565.70
19371-584.38
19372-585.72
19373-552.78
19374-530.19
19375-512.49
19376-545.26
19377-553.09
19378-476.97
19379-409.73
193710-375.86
193711-372.03
193712-384.07
19381-377.15
19382-354.45
19383-342.25
19384-347.57
19385-357.77
19386-431.06
19387-435.62
19388-417.83
19389-466.37
193810-468.54
193811-456.59
193812-451.28
19391-449.22
19392-450.42
19393-395.28
19394-411.47
19395-420.41
19396-432.33
19397-427.72
19398-475.00
19399-481.57
193910-474.79
193911-465.42
193912-464.73
19401-463.67
19402-463.00
19403-469.57
19404-406.93
19405-373.99
19406-388.46
19407-398.75
19408-417.72
19409-423.85
194010-435.93
194011-420.28
194012-423.31
19411-399.08
19412-403.77
19413-393.49
19414-387.25
19415-403.15
19416-426.17
19417-426.50
19418-430.18
19419-415.40
194110-398.44
194111-375.01
194112-384.82
19421-375.28
19422-357.40
19423-345.06
19424-351.52
19425-371.72
19426-388.01
19427-388.18
19428-394.64
19429-426.08
194210-435.26
194211-439.86
194212-468.47
19431-498.61
19432-518.63
19433-538.26
19434-561.75
19435-574.00
19436-588.19
19437-561.49
19438-575.82
19439-572.94
194310-548.84
194311-558.56
194312-579.03
19441-577.62
19442-596.34
19443-588.54
19444-601.50
19445-632.43
19446-651.53
19447-644.65
19448-636.75
19449-655.11
194410-653.25
194411-670.24
194412-692.92
19451-718.79
19452-721.05
19453-741.97
19454-772.84
19455-789.75
19456-776.36
19457-781.84
19458-837.98
19459-875.80
194510-907.38
194511-925.76
194512-965.55
19461-971.21
19462-945.20
19463-1,009.18
19464-1,014.41
19465-1,010.98
19466-985.22
19467-969.23
19468-829.44
19469-813.91
194610-813.80
194611-841.43
194612-849.17
19471-885.42
19472-852.91
19473-824.78
19474-813.54
19475-845.44
19476-902.03
19477-887.97
19478-868.72
19479-895.02
194710-888.49
194711-878.51
194712-870.91
19481-832.17
19482-848.14
19483-917.58
19484-966.49
19485-1,010.82
19486-991.04
19487-966.38
19488-959.83
19489-990.43
194810-939.91
194811-938.43
194812-953.72
19491-921.98
19492-935.73
19493-939.60
19494-937.88
19495-891.81
19496-947.67
19497-987.19
19498-1,005.66
19499-1,037.26
194910-1,057.46
194911-1,091.73
194912-1,120.45
19501-1,148.71
19502-1,164.51
19503-1,203.94
19504-1,251.07
19505-1,278.15
19506-1,192.21
19507-1,271.35
19508-1,323.58
19509-1,386.07
195010-1,391.29
195011-1,393.99
195012-1,505.69
19511-1,570.57
19512-1,553.10
19513-1,583.01
19514-1,592.96
19515-1,574.72
19516-1,611.99
19517-1,692.03
19518-1,745.09
19519-1,745.59
195110-1,706.25
195111-1,767.90
195112-1,835.68
19521-1,811.23
19522-1,824.81
19523-1,828.51
19524-1,836.92
19525-1,896.52
19526-1,960.38
19527-1,977.64
19528-1,955.71
19529-1,924.21
195210-1,994.78
195211-2,084.72
195212-2,105.34
19531-2,089.05
19532-2,109.05
19533-2,014.71
19534-2,034.91
19535-1,971.68
19536-2,009.41
19537-2,027.47
19538-1,944.20
19539-2,012.58
195310-2,067.08
195311-2,105.05
195312-2,168.70
19541-2,226.74
19542-2,284.25
19543-2,385.91
19544-2,491.43
19545-2,521.90
19546-2,634.31
19547-2,697.38
19548-2,771.28
19549-2,846.40
195410-2,968.86
195411-3,115.92
195412-3,183.49
19551-3,301.43
19552-3,287.02
19553-3,412.19
19554-3,409.51
19555-3,619.03
19556-3,895.67
19557-3,884.01
19558-4,071.08
19559-3,878.73
195510-4,152.80
195511-4,204.18
195512-4,103.79
19561-4,142.76
19562-4,441.29
19563-4,507.14
19564-4,379.21
19565-4,367.73
19566-4,618.83
19567-4,605.68
19568-4,463.41
19569-4,420.85
195610-4,389.35
195611-4,468.76
195612-4,385.52
19571-4,210.29
19572-4,278.51
19573-4,391.64
19574-4,574.34
19575-4,663.73
19576-4,772.03
19577-4,523.64
19578-4,354.48
19579-4,097.71
195710-4,023.94
195711-4,036.73
195712-4,130.74
19581-4,159.73
19582-4,260.35
19583-4,298.54
19584-4,451.48
19585-4,573.24
19586-4,713.67
19587-4,904.77
19588-5,049.16
19589-5,269.25
195810-5,444.52
195811-5,562.25
195812-5,798.91
19591-5,725.55
19592-5,886.22
19593-6,000.20
19594-6,106.13
19595-6,069.11
19596-6,325.69
19597-6,305.54
19598-6,072.03
19599-6,082.77
195910-6,123.47
195911-6,335.53
195912-6,241.40
19601-6,016.13
19602-5,951.27
19603-6,045.55
19604-6,007.79
19605-6,247.39
19606-6,110.19
19607-6,201.29
19608-6,032.56
19609-5,931.58
196010-6,141.61
196011-6,306.86
196012-6,649.13
19611-6,939.97
19612-7,175.72
19613-7,385.18
19614-7,478.48
19615-7,397.70
19616-7,395.63
19617-7,679.55
19618-7,637.95
19619-7,740.53
196110-8,109.91
196111-8,204.23
196112-7,918.14
19621-8,069.34
19622-8,096.85
19623-7,858.40
19624-7,293.77
19625-6,461.35
19626-6,636.93
19627-6,837.57
19628-6,797.00
19629-6,602.85
196210-7,078.31
196211-7,405.60
196212-7,712.69
19631-7,835.75
19632-7,827.26
19633-8,216.92
19634-8,403.40
19635-8,421.61
19636-8,318.71
19637-8,570.86
19638-8,818.87
19639-8,862.95
196310-8,835.78
196311-9,047.25
196312-9,348.54
19641-9,486.89
19642-9,683.37
19643-9,847.32
19644-9,967.49
19645-9,932.54
19646-10,325.97
19647-10,199.41
19648-10,399.87
19649-10,604.77
196410-10,704.13
196411-10,544.60
196412-10,842.04
19651-10,947.76
19652-10,984.50
19653-11,155.60
19654-11,348.88
19655-10,837.34
19656-10,848.50
19657-11,078.33
19658-11,476.72
19659-11,763.27
196510-11,889.84
196511-11,864.68
196512-12,099.66
19661-12,047.58
19662-11,582.26
19663-11,966.90
19664-11,367.65
19665-11,304.04
19666-11,306.12
19667-10,653.82
19668-10,310.25
19669-10,252.06
196610-10,797.07
196611-10,874.35
196612-11,323.49
19671-11,745.86
19672-12,055.22
19673-12,295.41
19674-12,548.42
19675-12,423.96
19676-12,671.49
19677-12,906.13
19678-13,119.58
19679-13,132.36
196710-12,753.92
196711-13,150.79
196712-13,148.49
19681-12,588.76
19682-12,392.47
19683-13,341.95
19684-13,683.20
19685-14,085.58
19686-14,092.47
19687-13,819.93
19688-14,304.69
19689-14,693.38
196810-14,955.76
196811-15,147.99
196812-14,544.32
19691-14,509.63
19692-14,231.94
19693-14,555.61
19694-15,067.02
19695-14,317.99
19696-13,715.87
19697-13,676.97
19698-13,762.94
19699-13,948.24
196910-14,087.37
196911-13,379.13
196912-13,300.32
19701-12,875.23
19702-13,134.32
19703-12,773.43
19704-11,342.93
19705-11,312.31
19706-11,371.43
19707-11,741.66
19708-12,483.88
19709-12,794.67
197010-12,821.12
197011-13,738.90
197012-14,303.67
19711-14,897.42
19712-15,319.29
19713-15,882.10
19714-15,706.15
19715-15,455.50
19716-15,383.95
19717-15,150.56
19718-15,527.26
19719-15,237.88
197110-14,571.75
197111-15,615.61
197112-16,306.22
19721-16,646.53
19722-17,082.60
19723-17,297.65
19724-17,163.44
19725-17,252.02
19726-17,165.10
19727-17,814.57
19728-17,598.93
19729-17,672.40
197210-18,600.94
197211-19,030.90
197212-19,219.19
19731-18,580.13
19732-18,330.16
19733-18,030.77
19734-17,567.42
19735-17,217.87
19736-17,426.25
19737-17,141.25
19738-17,483.27
19739-18,223.74
197310-16,974.90
197311-15,819.71
197312-16,088.71
19741-15,690.86
19742-16,408.66
19743-15,618.31
19744-15,195.73
19745-15,265.21
19746-13,533.09
19747-13,023.60
19748-11,719.47
19749-11,998.04
197410-12,447.18
197411-11,688.91
197412-12,697.99
19751-14,070.33
19752-14,770.14
19753-14,989.78
19754-15,995.98
19755-16,459.01
19756-16,530.11
19757-15,373.62
19758-15,242.53
19759-16,000.28
197510-16,326.96
197511-16,134.36
197512-17,674.43
19761-18,412.89
19762-18,560.64
19763-18,763.96
19764-18,692.04
19765-18,860.38
19766-19,363.08
19767-19,254.52
19768-19,723.93
19769-19,110.86
197610-19,040.80
197611-19,761.78
197612-19,655.61
19771-19,190.04
19772-19,179.65
19773-18,950.70
19774-18,962.93
19775-19,133.55
19776-19,378.93
19777-18,976.11
19778-18,753.08
19779-18,340.91
197710-18,520.86
197711-18,506.02
197712-17,878.60
19781-17,704.82
19782-17,751.86
19783-18,609.27
19784-19,633.59
19785-19,765.83
19786-19,753.52
19787-21,201.08
19788-21,285.82
19789-20,695.46
197810-19,570.11
197811-19,946.41
197812-20,781.23
19791-20,561.58
19792-21,042.96
19793-21,554.50
19794-21,146.46
19795-21,657.71
19796-21,965.43
19797-23,066.85
19798-23,422.18
19799-22,636.95
197910-22,563.96
197911-23,557.68
197912-24,338.02
19801-25,407.88
19802-23,177.62
19803-22,908.29
19804-24,061.98
19805-25,713.28
19806-26,991.09
19807-27,937.04
19808-28,729.28
19809-29,684.46
198010-31,054.31
198011-30,667.75
198012-30,670.82
19811-29,729.17
19812-30,960.94
19813-31,361.51
19814-30,854.31
19815-31,118.91
19816-30,491.47
19817-30,736.19
19818-28,184.26
19819-28,671.07
198110-29,543.74
198111-29,892.17
198112-28,456.12
19821-27,911.50
19822-27,145.45
19823-28,630.12
19824-28,793.21
19825-27,275.63
19826-27,342.14
19827-27,559.23
19828-30,892.90
19829-33,636.62
198210-35,150.24
198211-35,626.71
198212-37,025.32
19831-37,813.97
19832-39,275.71
19833-40,924.26
19834-42,734.76
19835-43,484.11
19836-43,792.04
19837-42,737.88
19838-44,154.15
19839-44,440.23
198310-43,932.98
198311-43,876.69
198312-44,568.16
19841-42,289.75
19842-42,476.83
19843-42,692.27
19844-42,584.44
19845-41,797.35
19846-41,417.64
19847-45,230.78
19848-45,867.17
19849-45,678.01
198410-46,265.38
198411-45,938.03
198412-48,096.00
19851-50,879.49
19852-50,636.12
19853-51,155.00
19854-52,554.41
19855-53,874.04
19856-55,084.70
19857-54,068.22
19858-53,049.04
19859-53,842.42
198510-57,299.38
198511-60,333.10
198512-60,786.65
19861-64,249.81
19862-68,222.23
19863-70,092.49
19864-70,437.23
19865-72,644.19
19866-71,333.76
19867-72,960.78
19868-71,168.69
19869-71,104.73
198610-73,616.82
198611-74,874.89
198612-79,871.57
19871-85,032.77
19872-88,754.15
19873-87,994.05
19874-88,146.13
19875-92,111.34
19876-94,987.14
19877-101,117.62
19878-98,053.33
19879-86,430.20
198710-75,796.33
198711-74,784.68
198712-77,960.45
19881-80,555.41
19882-83,159.01
19883-82,422.20
19884-80,618.58
19885-85,454.25
19886-85,191.97
19887-83,727.96
19888-85,341.54
19889-88,585.90
198810-86,796.24
198811-88,815.08
198812-91,934.85
19891-94,968.56
19892-94,815.04
19893-98,195.01
19894-102,236.03
19895-105,704.51
19896-108,664.42
19897-113,761.60
19898-114,279.83
19899-114,606.96
198910-112,528.50
198911-115,608.08
198912-113,051.72
19901-110,194.70
19902-113,177.85
19903-113,399.66
19904-117,766.60
19905-121,499.75
19906-121,705.96
19907-112,138.38
19908-107,270.39
19909-104,786.25
199010-107,912.88
199011-112,862.42
199012-112,089.12
19911-125,099.05
19912-128,907.84
19913-131,819.65
19914-131,583.85
19915-132,040.46
19916-133,071.02
19917-136,635.90
19918-136,221.76
19919-136,469.20
199110-136,490.75
199111-137,767.13
199112-147,904.08
19921-147,015.40
19922-145,527.05
19923-145,911.68
19924-148,929.65
19925-146,950.19
19926-149,760.07
19927-151,170.39
19928-151,742.10
19929-149,948.42
199210-154,082.36
199211-159,122.70
199212-159,350.07
19931-162,097.66
19932-165,583.01
19933-163,361.31
19934-164,545.23
19935-165,968.84
19936-166,070.09
19937-168,997.02
19938-171,286.88
19939-173,414.11
199310-173,427.19
199311-174,965.80
199312-178,003.00
19941-177,868.25
19942-175,335.73
19943-169,468.33
19944-171,261.72
19945-173,159.45
19946-172,260.97
19947-177,570.19
19948-179,021.77
19949-178,226.90
199410-177,567.66
199411-175,746.34
199412-180,054.19
19951-186,930.63
19952-191,712.63
19953-197,877.25
19954-204,501.71
19955-211,001.64
19956-218,486.88
19957-219,607.99
19958-227,772.27
19959-229,850.85
199510-235,271.62
199511-243,245.30
199512-243,640.77
19961-258,026.28
19962-257,508.42
19963-258,015.82
19964-264,091.65
19965-267,468.30
19966-258,169.60
19967-266,110.25
19968-271,495.60
19969-282,679.85
199610-296,961.07
199611-300,519.34
199612-310,308.88
19971-323,841.96
19972-321,822.20
19973-310,863.36
19974-339,518.22
19975-357,637.72
19976-378,151.55
19977-379,466.72
19978-383,989.99
19979-390,308.07
199710-385,811.55
199711-395,976.21
199712-396,915.02
19981-422,326.15
19982-444,763.80
19983-459,911.01
19984-458,890.66
19985-459,425.07
19986-479,950.65
19987-446,493.26
19988-424,622.01
19989-430,103.27
199810-477,304.45
199811-496,893.53
199812-521,975.16
19991-521,626.95
19992-536,876.76
19993-559,694.15
19994-559,140.99
19995-555,720.35
19996-580,852.18
19997-558,928.57
19998-555,586.09
19999-548,516.42
199910-587,493.72
199911-603,994.83
199912-603,276.49
20001-588,326.83
20002-611,512.51
20003-620,224.52
20004-602,617.63
20005-621,681.31
20006-626,967.73
20007-632,859.42
20008-626,026.75
20009-593,384.28
200010-588,800.00
200011-569,251.41
200012-571,841.55
20011-559,625.54
20012-508,812.08
20013-511,095.09
20014-546,255.02
20015-533,206.89
20016-519,022.37
20017-508,404.01
20018-451,222.16
20019-465,589.22
200110-489,116.12
200111-496,286.80
200112-494,809.41
20021-478,219.59
20022-501,868.85
20023-484,231.01
20024-470,573.89
20025-442,711.41
20026-395,082.30
20027-399,581.47
20028-380,570.46
20029-375,367.90
200210-400,238.19
200211-396,095.47
200212-395,214.09
20031-369,861.76
20032-374,699.17
20033-394,505.24
20034-415,462.20
20035-439,160.93
20036-441,777.89
20037-441,043.11
20038-454,985.28
20039-464,211.60
200310-469,831.28
200311-484,226.02
200312-508,122.39
20041-513,643.96
20042-505,604.42
20043-510,499.37
20044-497,408.87
20045-511,623.21
20046-500,169.09
20047-493,228.90
20048-506,953.60
20049-507,473.71
200410-531,699.98
200411-546,201.82
200412-538,832.35
20051-547,891.23
20052-546,490.89
20053-533,326.37
20054-540,450.92
20055-552,236.52
20056-562,219.80
20057-563,962.78
20058-565,540.13
20059-550,699.12
200510-572,515.30
200511-584,790.77
200512-593,368.31
20061-593,269.58
20062-602,086.38
20063-606,893.02
20064-602,118.99
20065-585,826.89
20066-590,045.09
20067-603,567.50
20068-618,844.84
20069-641,221.73
200610-654,056.70
200611-668,107.57
200612-672,736.40
20071-683,473.59
20072-666,565.20
20073-694,429.36
20074-717,982.69
20075-720,459.02
20076-724,598.92
20077-694,157.74
20078-715,501.31
20079-736,906.48
200710-701,488.47
200711-710,174.45
200712-663,052.97
20081-652,683.05
20082-635,539.44
20083-662,510.48
20084-679,488.00
20085-650,632.99
20086-611,084.45
20087-623,981.60
20088-593,733.86
20089-473,837.71
200810-433,062.33
200811-431,541.34
200812-426,813.56
20091-398,206.35
20092-375,558.62
20093-421,834.01
20094-449,927.41
20095-462,835.20
20096-468,748.58
20097-506,814.45
20098-525,314.92
20099-537,938.81
200910-549,205.00
200911-561,429.52
200912-569,047.94
20101-552,554.23
20102-585,392.73
20103-609,323.17
20104-573,480.37
20105-553,158.72
20106-552,278.80
20107-557,048.34
20108-575,827.30
20109-602,185.43
201010-617,185.36
201011-640,105.99
201012-662,267.70
20111-683,134.85
20112-675,535.24
20113-690,538.76
20114-695,091.04
20115-669,632.63
20116-690,402.87
20117-618,596.50
20118-613,714.26
20119-632,241.72
201110-643,414.20
201111-653,417.69
201112-684,667.77
20121-713,167.81
20122-733,734.41
20123-733,454.05
20124-710,783.33
20125-702,592.19
20126-723,115.51
20127-747,612.50
20128-770,199.12
20129-768,526.75
201210-746,719.85
201211-762,965.00
201212-795,534.16
20131-814,094.14
20132-836,257.48
20133-848,414.92
20134-887,223.71
20135-877,306.54
20136-905,858.28
20137-908,145.83
20138-918,975.18
20139-938,434.93
201310-974,658.47
201311-989,489.47
201312-999,065.83
20141-997,766.68
20142-1,024,928.58
20143-1,026,996.10
20144-1,042,730.04
20145-1,076,059.01
20146-1,092,154.93
20147-1,087,491.97
20148-1,106,827.94
20149-1,077,534.82
201410-1,139,015.21
201411-1,146,235.28
201412-1,133,511.55
20151-1,165,560.43
20152-1,166,205.73
20153-1,176,449.79
20154-1,187,966.10
20155-1,182,792.51
20156-1,181,850.65
20157-1,153,197.89
20158-1,101,222.16
20159-1,148,763.24
201510-1,182,450.38
201511-1,169,408.31
201512-1,094,336.72
20161-1,088,318.86
20162-1,157,565.62
20163-1,190,339.32
20164-1,186,716.34
20165-1,199,372.55
20166-1,238,921.13
20167-1,253,778.98
20168-1,248,279.01
20169-1,241,962.96
201610-1,256,880.92
201611-1,306,476.99
201612-1,325,259.36
20171-1,359,403.94
20172-1,383,183.41
20173-1,381,053.25
20174-1,404,425.83
20175-1,429,374.44
20176-1,443,495.00
20177-1,447,072.06
20178-1,470,995.97
20179-1,511,224.75
201710-1,535,246.71
201711-1,579,515.34
201712-1,656,309.77
20181-1,608,497.30
20182-1,609,536.04
20183-1,582,753.81
20184-1,613,801.44
20185-1,647,900.58
20186-1,673,949.63
20187-1,714,974.88
20188-1,743,782.13
20189-1,676,664.19
201810-1,641,854.83
201811-1,550,526.45
201812-1,577,437.96
20191-1,669,385.28
20192-1,701,905.27
20193-1,765,270.94
20194-1,738,230.72
20195-1,762,648.50
20196-1,830,111.12
20197-1,772,747.86
20198-1,827,441.17
20199-1,827,620.31
201910-1,908,651.36
201911-1,955,782.07
201912-2,021,230.31
20201-2,023,697.77
20202-1,640,860.52
20203-1,711,722.95
20204-1,812,498.34
20205-1,930,460.66
20206-1,997,571.86
20207-2,115,298.86
20208-2,102,035.88
20209-2,138,317.05
202010-2,222,868.60
202011-2,317,564.59
202012-2,382,347.46
20211-2,441,704.33
20212-2,461,759.46
20213-2,609,993.96
20214-2,629,835.96
20215-2,677,447.11
20216-2,759,596.58
20217-2,819,898.23
20218-2,817,515.45
20219-2,830,255.58
202110-2,964,543.96
202111-2,972,411.97
202112-2,911,419.48
20221-2,826,913.49
20222-2,801,680.93
20223-2,804,995.37
20224-2,584,165.65
20225-2,497,095.16
20226-2,508,698.80
20227-2,670,444.49
20228-2,476,105.45
20229-2,399,564.69
202210-2,526,383.95
202211-2,526,657.74
202212-2,561,436.08
20231-2,642,043.75
20232-2,573,735.64
20233-2,676,587.81
20234-2,696,332.87
20235-2,829,590.67
20236-2,939,266.80
20237-2,909,943.59
20238-2,882,195.03
20239-2,794,653.76
202310-2,923,256.01
202311-3,074,541.72
202312-3,164,067.36
20241-3,296,935.14
20242-3,405,144.51
20243-3,370,782.24
20244-3,455,615.15
20245-3,640,270.10
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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.

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S&P 500 from 1920 to 2024
Start Value
Average monthly close
$8.83
End Value
Average monthly close
$5,509.01
Change in price+62,289.69%
+6.38% / yr
Change incl. dividends+3,259,602.36%
+10.46% / yr
Change incl. dividends, inflation-adjusted+206,429.88%
+7.58% / yr
Final amount, nominal
($100 base)
$3,259,702.36
Final amount, inflation-adjusted
($100 base)
$206,529.88