S&P 500: $1 in 1900 → $144,167.86 in 2024

$

Stock market returns between 1900 and 2024

If you invested $1 in the S&P 500 at the beginning of 1900, you would have about $144,167.86 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 14,416,685.91%, or 9.97% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 386,168.04% cumulatively, or 6.83% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $122,035.38.

The graph below shows the performance of $1 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 $1 is $144,166.86, or 14,416,685.91%. This means by 2024 you would have $144,167.86 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 1900 was 8.400 and the CPI in 2024 was 313.515.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 124 years.

Adjusted for inflation, the $144,167.86 nominal end value of the original $1 investment would have a real return of roughly $3,861.68 in 1900 dollars. This means the inflation-adjusted return is 386,168.04% as opposed to the original 14,416,685.91%.

For more information on inflation, see our U.S. inflation calculator for 1900.

Full monthly data

The table below shows the full dataset pertaining to a $1 investment, including gains and losses over the 1500-month period between 1900 and 2024.

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

YearMonthReturn (%)Amount ($)
190012.10%1.02
190021.11%1.03
190031.59%1.05
19004-4.42%1.00
19005-2.64%0.98
190060.36%0.98
190071.74%1.00
19008-1.98%0.98
190094.02%1.02
1900108.22%1.10
1900116.39%1.17
1900123.28%1.21
190112.90%1.24
190123.93%1.29
190138.73%1.40
19014-4.72%1.34
1901510.29%1.48
19016-6.40%1.38
190171.71%1.41
19018-0.17%1.40
19019-0.80%1.39
1901102.48%1.43
190111-1.28%1.41
1901122.47%1.44
190211.19%1.46
190220.45%1.47
190233.74%1.52
190240.08%1.52
19025-0.27%1.52
190262.58%1.56
190272.99%1.60
190280.53%1.61
19029-2.86%1.57
190210-3.53%1.51
190211-1.97%1.48
1902125.43%1.56
19031-0.26%1.56
19032-3.59%1.50
19033-3.74%1.45
19034-1.57%1.42
19035-5.16%1.35
19036-4.20%1.29
19037-2.80%1.26
19038-1.98%1.23
19039-2.80%1.20
1903100.78%1.21
1903115.08%1.27
1903122.12%1.30
19041-2.26%1.27
190420.13%1.27
190432.91%1.30
19044-1.69%1.28
190450.58%1.29
190464.57%1.35
190473.79%1.40
190484.81%1.47
190496.24%1.56
1904105.76%1.65
1904111.30%1.67
1904122.49%1.71
190514.70%1.79
190523.14%1.85
19053-0.93%1.83
19054-4.63%1.75
190551.49%1.77
190563.45%1.83
190574.02%1.91
190580.62%1.92
190591.70%1.95
190510-0.24%1.95
1905112.76%2.00
1905123.75%2.08
19061-0.43%2.07
19062-2.16%2.02
19063-1.06%2.00
19064-2.34%1.95
190651.63%1.99
19066-2.25%1.94
190677.74%2.09
190683.41%2.16
19069-2.67%2.11
1906102.39%2.16
190611-0.58%2.14
190612-2.51%2.09
19071-2.79%2.03
19072-9.46%1.84
190730.89%1.86
19074-3.05%1.80
19075-2.78%1.75
190764.27%1.82
19077-7.06%1.69
19078-0.59%1.68
19079-10.39%1.51
190710-5.33%1.43
1907115.70%1.51
1907124.82%1.58
19081-3.12%1.53
190824.64%1.61
190835.91%1.70
190845.88%1.80
190850.59%1.81
190864.12%1.89
190874.73%1.97
19088-0.67%1.96
190891.64%1.99
1908107.18%2.14
1908112.65%2.19
1908120.70%2.21
19091-2.50%2.15
190921.75%2.19
190934.87%2.30
190943.70%2.38
190952.13%2.43
190961.79%2.48
190972.77%2.55
190980.45%2.56
190990.74%2.58
190910-0.14%2.57
1909111.54%2.61
190912-1.78%2.57
19101-3.21%2.48
191022.85%2.55
19103-2.04%2.50
19104-1.26%2.47
19105-4.42%2.36
19106-4.64%2.25
191072.87%2.32
191081.11%2.34
191095.03%2.46
1910100.31%2.47
191011-2.37%2.41
1910122.86%2.48
191112.15%2.53
19112-0.75%2.51
19113-0.01%2.51
191142.58%2.58
191152.42%2.64
19116-0.01%2.64
19117-4.37%2.52
19118-5.03%2.40
191191.03%2.42
1911104.46%2.53
1911110.87%2.55
1911120.54%2.57
19121-0.45%2.55
191223.31%2.64
191233.54%2.73
191240.31%2.74
191250.41%2.75
191260.52%2.77
191272.71%2.84
191280.91%2.87
191290.20%2.87
191210-0.71%2.85
191211-3.19%2.76
191212-0.43%2.75
19131-3.12%2.66
19132-1.45%2.62
191330.34%2.63
19134-2.28%2.57
19135-4.56%2.46
191361.85%2.50
191373.16%2.58
191381.42%2.62
19139-2.70%2.55
191310-2.06%2.49
1913110.37%2.50
1913124.60%2.62
191411.79%2.67
19142-1.42%2.63
19143-1.94%2.58
191441.09%2.60
19145-0.03%2.60
19146-5.07%2.47
191470.48%2.48
191480.48%2.50
191490.47%2.51
1914100.47%2.52
191411-3.84%2.42
1914122.24%2.48
19151-0.87%2.46
191523.05%2.53
191537.99%2.73
19154-1.90%2.68
191551.58%2.72
191560.07%2.72
191574.69%2.85
191584.14%2.97
191595.95%3.15
1915103.89%3.27
1915110.59%3.29
191512-1.20%3.25
19161-1.00%3.22
191620.08%3.22
19163-0.67%3.20
191642.64%3.28
191651.41%3.33
19166-0.95%3.30
191671.22%3.34
191684.55%3.49
191693.55%3.61
1916102.75%3.71
191611-3.57%3.58
191612-1.87%3.51
19171-5.15%3.33
191723.64%3.45
19173-0.97%3.42
19174-2.83%3.32
191752.61%3.41
19176-2.19%3.34
19177-2.36%3.26
19178-4.17%3.12
19179-4.74%2.97
191710-7.61%2.75
191711-2.61%2.68
1917126.88%2.86
191813.84%2.97
19182-1.27%2.93
19183-0.21%2.93
191843.94%3.04
191850.85%3.07
191861.51%3.11
191871.62%3.16
191880.14%3.17
191894.91%3.32
1918103.17%3.43
191811-1.39%3.38
191812-0.03%3.38
191910.98%3.41
191923.64%3.54
191933.90%3.68
191947.47%3.95
191953.19%4.08
191963.75%4.23
19197-6.25%3.96
191982.09%4.05
191995.60%4.27
191910-2.48%4.17
191911-2.45%4.07
191912-0.51%4.04
19201-7.77%3.73
192027.58%4.01
19203-0.30%4.00
19204-5.77%3.77
19205-1.20%3.72
192060.42%3.74
19207-3.37%3.61
192084.12%3.76
192090.67%3.79
192010-4.53%3.62
192011-8.39%3.31
1920125.03%3.48
19211-0.11%3.48
19212-1.96%3.41
192131.04%3.44
192143.63%3.57
19215-7.43%3.30
192160.31%3.31
19217-0.61%3.29
192183.10%3.40
192191.96%3.46
1921105.96%3.67
1921114.09%3.82
1921120.39%3.83
192212.72%3.94
192224.28%4.11
192236.58%4.38
192244.38%4.57
19225-0.47%4.55
192261.19%4.60
192274.24%4.80
192283.07%4.94
192292.67%5.07
192210-4.52%4.84
1922110.25%4.86
1922121.85%4.95
192314.75%5.18
192322.08%5.29
19233-3.04%5.13
19234-4.25%4.91
19235-3.31%4.75
19236-2.84%4.61
192371.04%4.66
192381.16%4.71
19239-0.94%4.67
1923103.54%4.84
1923113.92%5.03
1923123.79%5.22
192410.95%5.27
19242-1.42%5.19
19243-1.79%5.10
192440.17%5.11
192452.42%5.23
192465.16%5.50
192473.93%5.72
19248-0.48%5.69
19249-0.81%5.64
1924106.08%5.99
1924115.87%6.34
1924124.58%6.63
192511.29%6.71
19252-2.19%6.57
19253-0.61%6.53
192543.67%6.77
192552.24%6.92
192563.22%7.14
192571.79%7.27
192582.74%7.47
192593.73%7.75
1925103.53%8.02
1925112.04%8.18
1925121.93%8.34
192610.56%8.39
19262-6.38%7.85
19263-2.35%7.67
192641.15%7.76
192655.22%8.16
192664.66%8.54
192674.39%8.92
192681.94%9.09
19269-1.83%8.92
1926101.74%9.08
1926112.71%9.32
192612-0.24%9.30
192712.37%9.52
192721.97%9.71
192732.88%9.99
192743.87%10.37
192751.70%10.55
192762.62%10.83
192775.73%11.45
192786.06%12.14
19279-1.17%12.00
1927102.66%12.32
1927112.72%12.65
1927120.77%12.75
19281-0.83%12.64
192825.75%13.37
192836.66%14.26
192843.44%14.75
19285-4.57%14.08
192861.09%14.23
192873.59%14.74
192887.37%15.83
192892.36%16.20
1928107.08%17.35
1928110.70%17.47
1928127.69%18.82
192910.81%18.97
192922.05%19.36
19293-0.30%19.30
192941.80%19.65
192952.20%20.08
192969.20%21.93
192975.96%23.23
192984.24%24.22
19299-10.32%21.72
192910-26.19%16.03
1929114.37%16.73
1929121.83%17.04
193016.64%18.17
193024.12%18.92
193036.69%20.18
19304-5.65%19.04
19305-9.77%17.18
19306-1.76%16.88
19307-0.90%16.73
193080.34%16.78
19309-13.37%14.54
193010-6.80%13.55
193011-6.19%12.71
1930123.56%13.16
193118.14%14.24
193122.38%14.57
19313-9.08%13.25
19314-9.16%12.04
19315-2.68%11.72
193163.86%12.17
19317-2.49%11.86
19318-14.37%10.16
19319-12.75%8.86
1931102.05%9.05
193111-18.10%7.41
193112-0.85%7.35
19321-0.05%7.34
193221.14%7.43
19323-23.22%5.70
19324-11.31%5.06
19325-12.39%4.43
193266.18%4.70
1932751.35%7.12
1932810.37%7.86
19329-13.22%6.82
193210-0.34%6.80
193211-2.64%6.62
1932124.57%6.92
19331-11.27%6.14
193320.33%6.16
1933311.24%6.85
1933429.32%8.86
1933517.58%10.42
193368.46%11.30
19337-4.64%10.78
19338-0.48%10.73
19339-9.38%9.72
1933102.80%9.99
1933112.32%10.22
1933126.08%10.85
193417.75%11.69
19342-4.80%11.13
193432.02%11.35
19344-9.83%10.23
193451.70%10.41
19346-4.36%9.96
19347-3.51%9.61
19348-2.01%9.41
193491.21%9.53
1934103.21%9.83
1934111.06%9.94
1934120.40%9.98
19351-2.62%9.72
19352-5.93%9.14
193537.94%9.86
193548.27%10.68
193554.17%11.13
193565.60%11.75
193577.10%12.58
193582.43%12.89
193592.99%13.27
1935109.71%14.56
1935110.29%14.61
1935125.82%15.46
193616.03%16.39
193622.41%16.78
193630.41%16.85
19364-5.02%16.01
193654.57%16.74
193666.23%17.78
193672.30%18.19
193681.44%18.46
193695.55%19.48
1936103.10%20.08
193611-1.40%19.80
1936123.46%20.49
193713.30%21.16
193720.23%21.21
19373-5.62%20.02
19374-4.09%19.20
19375-3.34%18.56
193766.39%19.75
193771.44%20.03
19378-13.76%17.27
19379-14.10%14.84
193710-8.27%13.61
193711-1.02%13.47
1937123.24%13.91
19381-1.80%13.66
19382-6.02%12.84
19383-3.44%12.40
193841.56%12.59
193852.93%12.96
1938620.49%15.61
193871.06%15.78
19388-4.08%15.13
1938911.62%16.89
1938100.47%16.97
193811-2.55%16.54
193812-1.16%16.34
19391-0.46%16.27
193920.27%16.31
19393-12.24%14.32
193944.10%14.90
193952.17%15.23
193962.84%15.66
19397-1.07%15.49
1939811.06%17.20
193991.38%17.44
193910-1.41%17.20
193911-1.97%16.86
193912-0.15%16.83
19401-0.23%16.79
19402-0.15%16.77
194031.42%17.01
19404-13.34%14.74
19405-8.09%13.54
194063.87%14.07
194072.65%14.44
194084.76%15.13
194091.47%15.35
1940102.85%15.79
194011-3.59%15.22
1940120.72%15.33
19411-5.72%14.45
194121.18%14.62
19413-2.55%14.25
19414-1.59%14.02
194154.11%14.60
194165.71%15.43
194170.08%15.45
194180.86%15.58
19419-3.43%15.04
194110-4.08%14.43
194111-5.88%13.58
1941122.62%13.94
19421-2.48%13.59
19422-4.76%12.94
19423-3.45%12.50
194241.87%12.73
194255.75%13.46
194264.38%14.05
194270.05%14.06
194281.66%14.29
194297.97%15.43
1942102.15%15.76
1942111.06%15.93
1942126.50%16.97
194316.43%18.06
194324.01%18.78
194333.79%19.49
194344.36%20.34
194352.18%20.79
194362.47%21.30
19437-4.54%20.34
194382.55%20.85
19439-0.50%20.75
194310-4.21%19.88
1943111.77%20.23
1943123.67%20.97
19441-0.24%20.92
194423.24%21.60
19443-1.31%21.31
194442.20%21.78
194455.14%22.90
194463.02%23.60
19447-1.06%23.35
19448-1.23%23.06
194492.88%23.73
194410-0.28%23.66
1944112.60%24.27
1944123.38%25.10
194513.73%26.03
194520.31%26.11
194532.90%26.87
194544.16%27.99
194552.19%28.60
19456-1.70%28.12
194570.71%28.32
194587.18%30.35
194594.51%31.72
1945103.61%32.86
1945112.02%33.53
1945124.30%34.97
194610.59%35.17
19462-2.68%34.23
194636.77%36.55
194640.52%36.74
19465-0.34%36.61
19466-2.55%35.68
19467-1.62%35.10
19468-14.42%30.04
19469-1.87%29.48
194610-0.01%29.47
1946113.39%30.47
1946120.92%30.75
194714.27%32.07
19472-3.67%30.89
19473-3.30%29.87
19474-1.36%29.46
194753.92%30.62
194766.69%32.67
19477-1.56%32.16
19478-2.17%31.46
194793.03%32.41
194710-0.73%32.18
194711-1.12%31.82
194712-0.86%31.54
19481-4.45%30.14
194821.92%30.72
194838.19%33.23
194845.33%35.00
194854.59%36.61
19486-1.96%35.89
19487-2.49%35.00
19488-0.68%34.76
194893.19%35.87
194810-5.10%34.04
194811-0.16%33.99
1948121.63%34.54
19491-3.33%33.39
194921.49%33.89
194930.41%34.03
19494-0.18%33.97
19495-4.91%32.30
194966.26%34.32
194974.17%35.75
194981.87%36.42
194993.14%37.57
1949101.95%38.30
1949113.24%39.54
1949122.63%40.58
195012.52%41.60
195021.38%42.17
195033.39%43.60
195043.91%45.31
195052.16%46.29
19506-6.72%43.18
195076.64%46.04
195084.11%47.94
195094.72%50.20
1950100.38%50.39
1950110.19%50.49
1950128.01%54.53
195114.31%56.88
19512-1.11%56.25
195131.93%57.33
195140.63%57.69
19515-1.15%57.03
195162.37%58.38
195174.97%61.28
195183.14%63.20
195190.03%63.22
195110-2.25%61.79
1951113.61%64.03
1951123.83%66.48
19521-1.33%65.60
195220.75%66.09
195230.20%66.22
195240.46%66.53
195253.24%68.69
195263.37%71.00
195270.88%71.62
19528-1.11%70.83
19529-1.61%69.69
1952103.67%72.24
1952114.51%75.50
1952120.99%76.25
19531-0.77%75.66
195320.96%76.38
19533-4.47%72.97
195341.00%73.70
19535-3.11%71.41
195361.91%72.77
195370.90%73.43
19538-4.11%70.41
195393.52%72.89
1953102.71%74.86
1953111.84%76.24
1953123.02%78.54
195412.68%80.65
195422.58%82.73
195434.45%86.41
195444.42%90.23
195451.22%91.33
195464.46%95.41
195472.39%97.69
195482.74%100.37
195492.71%103.09
1954104.30%107.52
1954114.95%112.85
1954122.17%115.29
195513.70%119.57
19552-0.44%119.04
195533.81%123.58
19554-0.08%123.48
195556.15%131.07
195567.64%141.09
19557-0.30%140.67
195584.82%147.44
19559-4.72%140.47
1955107.07%150.40
1955111.24%152.26
195512-2.39%148.63
195610.95%150.04
195627.21%160.85
195631.48%163.23
19564-2.84%158.60
19565-0.26%158.18
195665.75%167.28
19567-0.28%166.80
19568-3.09%161.65
19569-0.95%160.11
195610-0.71%158.97
1956111.81%161.84
195612-1.86%158.83
19571-4.00%152.48
195721.62%154.95
195732.64%159.05
195744.16%165.67
195751.95%168.90
195762.32%172.83
19577-5.21%163.83
19578-3.74%157.70
19579-5.90%148.41
195710-1.80%145.73
1957110.32%146.20
1957122.33%149.60
195810.70%150.65
195822.42%154.30
195830.90%155.68
195843.56%161.22
195852.74%165.63
195863.07%170.71
195874.05%177.63
195882.94%182.86
195894.36%190.83
1958103.33%197.18
1958112.16%201.45
1958124.25%210.02
19591-1.27%207.36
195922.81%213.18
195931.94%217.31
195941.77%221.14
19595-0.61%219.80
195964.23%229.09
19597-0.32%228.37
19598-3.70%219.91
195990.18%220.30
1959100.67%221.77
1959113.46%229.45
195912-1.49%226.04
19601-3.61%217.88
19602-1.08%215.53
196031.58%218.95
19604-0.62%217.58
196053.99%226.26
19606-2.20%221.29
196071.49%224.59
19608-2.72%218.48
19609-1.67%214.82
1960103.54%222.43
1960112.69%228.41
1960125.43%240.81
196114.37%251.34
196123.40%259.88
196132.92%267.47
196141.26%270.84
19615-1.08%267.92
19616-0.03%267.84
196173.84%278.13
19618-0.54%276.62
196191.34%280.34
1961104.77%293.71
1961111.16%297.13
196112-3.49%286.77
196211.91%292.24
196220.34%293.24
19623-2.94%284.60
19624-7.19%264.16
19625-11.41%234.01
196262.72%240.37
196273.02%247.63
19628-0.59%246.16
19629-2.86%239.13
1962107.20%256.35
1962114.62%268.21
1962124.15%279.33
196311.60%283.78
19632-0.11%283.48
196334.98%297.59
196342.27%304.34
196350.22%305.00
19636-1.22%301.28
196373.03%310.41
196382.89%319.39
196390.50%320.99
196310-0.31%320.00
1963112.39%327.66
1963123.33%338.57
196411.48%343.58
196422.07%350.70
196431.69%356.64
196441.22%360.99
19645-0.35%359.72
196463.96%373.97
19647-1.23%369.39
196481.97%376.65
196491.97%384.07
1964100.94%387.67
196411-1.49%381.89
1964122.82%392.66
196510.98%396.49
196520.34%397.82
196531.56%404.02
196541.73%411.02
19655-4.51%392.49
196560.10%392.90
196572.12%401.22
196583.60%415.65
196592.50%426.03
1965101.08%430.61
196511-0.21%429.70
1965121.98%438.21
19661-0.43%436.32
19662-3.86%419.47
196633.32%433.40
19664-5.01%411.70
19665-0.56%409.39
196660.02%409.47
19667-5.77%385.84
19668-3.22%373.40
19669-0.56%371.29
1966105.32%391.03
1966110.72%393.83
1966124.13%410.10
196713.73%425.39
196722.63%436.60
196731.99%445.30
196742.06%454.46
19675-0.99%449.95
196761.99%458.92
196771.85%467.42
196781.65%475.15
196790.10%475.61
196710-2.88%461.90
1967113.11%476.28
196712-0.02%476.19
19681-4.26%455.92
19682-1.56%448.81
196837.66%483.20
196842.56%495.56
196852.94%510.13
196860.05%510.38
19687-1.93%500.51
196883.51%518.07
196892.72%532.14
1968101.79%541.65
1968111.29%548.61
196812-3.99%526.75
19691-0.24%525.49
19692-1.91%515.43
196932.27%527.15
196943.51%545.68
19695-4.97%518.55
19696-4.21%496.74
19697-0.28%495.33
196980.63%498.45
196991.35%505.16
1969101.00%510.20
196911-5.03%484.55
196912-0.59%481.69
19701-3.20%466.30
197022.01%475.68
19703-2.75%462.61
19704-11.20%410.80
19705-0.27%409.69
197060.52%411.83
197073.26%425.24
197086.32%452.12
197092.49%463.38
1970100.21%464.34
1970117.16%497.58
1970124.11%518.03
197114.15%539.53
197122.83%554.81
197133.67%575.20
19714-1.11%568.82
19715-1.60%559.75
19716-0.46%557.15
19717-1.52%548.70
197182.49%562.34
19719-1.86%551.86
197110-4.37%527.74
1971117.16%565.54
1971124.42%590.56
197212.09%602.88
197222.62%618.67
197231.26%626.46
19724-0.78%621.60
197250.52%624.81
19726-0.50%621.66
197273.78%645.18
19728-1.21%637.37
197290.42%640.03
1972105.25%673.66
1972112.31%689.23
1972120.99%696.05
19731-3.33%672.91
19732-1.35%663.86
19733-1.63%653.01
19734-2.57%636.23
19735-1.99%623.57
197361.21%631.12
19737-1.64%620.80
197382.00%633.18
197394.24%660.00
197310-6.85%614.77
197311-6.81%572.94
1973121.70%582.68
19741-2.47%568.27
197424.57%594.27
19743-4.82%565.64
19744-2.71%550.34
197450.46%552.85
19746-11.35%490.12
19747-3.76%471.67
19748-10.01%424.44
197492.38%434.53
1974103.74%450.79
197411-6.09%423.33
1974128.63%459.88
1975110.81%509.58
197524.97%534.92
197531.49%542.88
197546.71%579.32
197552.89%596.09
197560.43%598.66
19757-7.00%556.78
19758-0.85%552.03
197594.97%579.48
1975102.04%591.31
197511-1.18%584.33
1975129.55%640.11
197614.18%666.85
197620.80%672.20
197631.10%679.57
19764-0.38%676.96
197650.90%683.06
197662.67%701.26
19767-0.56%697.33
197682.44%714.33
19769-3.11%692.13
197610-0.37%689.59
1976113.79%715.70
197612-0.54%711.86
19771-2.37%695.00
19772-0.05%694.62
19773-1.19%686.33
197740.06%686.77
197750.90%692.95
197761.28%701.84
19777-2.08%687.25
19778-1.18%679.17
19779-2.20%664.25
1977100.98%670.76
197711-0.08%670.22
197712-3.39%647.50
19781-0.97%641.21
197820.27%642.91
197834.83%673.96
197845.50%711.06
197850.67%715.85
19786-0.06%715.40
197877.33%767.83
197880.40%770.90
19789-2.77%749.52
197810-5.44%708.76
1978111.92%722.39
1978124.19%752.62
19791-1.06%744.67
197922.34%762.10
197932.43%780.63
19794-1.89%765.85
197952.42%784.37
197961.42%795.51
197975.01%835.40
197981.54%848.27
19799-3.35%819.83
197910-0.32%817.19
1979114.40%853.18
1979123.31%881.44
198014.40%920.19
19802-8.78%839.41
19803-1.16%829.66
198045.04%871.44
198056.86%931.25
198064.97%977.52
198073.50%1,011.78
198082.84%1,040.48
198093.32%1,075.07
1980104.61%1,124.68
198011-1.24%1,110.68
1980120.01%1,110.79
19811-3.07%1,076.69
198124.14%1,121.30
198131.29%1,135.81
19814-1.62%1,117.44
198150.86%1,127.02
19816-2.02%1,104.30
198170.80%1,113.16
19818-8.30%1,020.74
198191.73%1,038.37
1981103.04%1,069.97
1981111.18%1,082.59
198112-4.80%1,030.58
19821-1.91%1,010.86
19822-2.74%983.12
198235.47%1,036.88
198240.57%1,042.79
19825-5.27%987.83
198260.24%990.24
198270.79%998.10
1982812.10%1,118.84
198298.88%1,218.20
1982104.50%1,273.02
1982111.36%1,290.28
1982123.93%1,340.93
198312.13%1,369.49
198323.87%1,422.43
198334.20%1,482.14
198344.42%1,547.71
198351.75%1,574.85
198360.71%1,586.00
19837-2.41%1,547.82
198383.31%1,599.11
198390.65%1,609.47
198310-1.14%1,591.10
198311-0.13%1,589.06
1983121.58%1,614.11
19841-5.11%1,531.59
198420.44%1,538.37
198430.51%1,546.17
19844-0.25%1,542.26
19845-1.85%1,513.76
19846-0.91%1,500.01
198479.21%1,638.10
198481.41%1,661.15
19849-0.41%1,654.30
1984101.29%1,675.57
198411-0.71%1,663.72
1984124.70%1,741.87
198515.79%1,842.68
19852-0.48%1,833.87
198531.02%1,852.66
198542.74%1,903.34
198552.51%1,951.13
198562.25%1,994.98
19857-1.85%1,958.17
19858-1.88%1,921.25
198591.50%1,949.99
1985106.42%2,075.19
1985115.29%2,185.06
1985120.75%2,201.48
198615.70%2,326.91
198626.18%2,470.78
198632.74%2,538.51
198640.49%2,550.99
198653.13%2,630.92
19866-1.80%2,583.46
198672.28%2,642.39
19868-2.46%2,577.49
19869-0.09%2,575.17
1986103.53%2,666.15
1986111.71%2,711.71
1986126.67%2,892.67
198716.46%3,079.60
198724.38%3,214.37
19873-0.86%3,186.84
198740.17%3,192.35
198754.50%3,335.96
198763.12%3,440.11
198776.45%3,662.13
19878-3.03%3,551.16
19879-11.85%3,130.21
198710-12.30%2,745.08
198711-1.33%2,708.44
1987124.25%2,823.46
198813.33%2,917.44
198823.23%3,011.73
19883-0.89%2,985.05
19884-2.19%2,919.73
198856.00%3,094.86
19886-0.31%3,085.36
19887-1.72%3,032.34
198881.93%3,090.78
198893.80%3,208.28
198810-2.02%3,143.46
1988112.33%3,216.58
1988123.51%3,329.57
198913.30%3,439.44
19892-0.16%3,433.88
198933.56%3,556.29
198944.12%3,702.64
198953.39%3,828.26
198962.80%3,935.45
198974.69%4,120.06
198980.46%4,138.82
198990.29%4,150.67
198910-1.81%4,075.40
1989112.74%4,186.93
198912-2.21%4,094.35
19901-2.53%3,990.87
199022.71%4,098.91
199030.20%4,106.95
199043.85%4,265.10
199053.17%4,400.30
199060.17%4,407.77
19907-7.86%4,061.27
19908-4.34%3,884.97
19909-2.32%3,795.00
1990102.98%3,908.23
1990114.59%4,087.49
199012-0.69%4,059.48
1991111.61%4,530.66
199123.04%4,668.60
199132.26%4,774.06
19914-0.18%4,765.52
199150.35%4,782.05
199160.78%4,819.38
199172.68%4,948.48
19918-0.30%4,933.49
199190.18%4,942.45
1991100.02%4,943.23
1991110.94%4,989.45
1991127.36%5,356.58
19921-0.60%5,324.39
19922-1.01%5,270.49
199230.26%5,284.42
199242.07%5,393.72
19925-1.33%5,322.03
199261.91%5,423.80
199270.94%5,474.87
199280.38%5,495.58
19929-1.18%5,430.62
1992102.76%5,580.33
1992113.27%5,762.88
1992120.14%5,771.11
199311.72%5,870.62
199322.15%5,996.85
19933-1.34%5,916.39
199340.72%5,959.26
199350.87%6,010.82
199360.06%6,014.49
199371.76%6,120.49
199381.35%6,203.42
199391.24%6,280.46
1993100.01%6,280.94
1993110.89%6,336.66
1993121.74%6,446.66
19941-0.08%6,441.78
19942-1.42%6,350.06
19943-3.35%6,137.56
199441.06%6,202.51
199451.11%6,271.24
19946-0.52%6,238.70
199473.08%6,430.98
199480.82%6,483.55
19949-0.44%6,454.77
199410-0.37%6,430.89
199411-1.03%6,364.93
1994122.45%6,520.95
199513.82%6,769.99
199522.56%6,943.17
199533.22%7,166.44
199543.35%7,406.35
199553.18%7,641.76
199563.55%7,912.85
199570.51%7,953.45
199583.72%8,249.13
199590.91%8,324.41
1995102.36%8,520.73
1995113.39%8,809.51
1995120.16%8,823.83
199615.90%9,344.83
19962-0.20%9,326.07
199630.20%9,344.45
199642.35%9,564.49
199651.28%9,686.79
19966-3.48%9,350.02
199673.08%9,637.60
199682.02%9,832.64
199694.12%10,237.70
1996105.05%10,754.91
1996111.20%10,883.78
1996123.26%11,238.32
199714.36%11,728.45
19972-0.62%11,655.30
19973-3.41%11,258.41
199749.22%12,296.19
199755.34%12,952.41
199765.74%13,695.35
199770.35%13,742.98
199781.19%13,906.80
199791.65%14,135.62
199710-1.15%13,972.77
1997112.63%14,340.90
1997120.24%14,374.90
199816.40%15,295.21
199825.31%16,107.82
199833.41%16,656.40
19984-0.22%16,619.45
199850.12%16,638.80
199864.47%17,382.17
19987-6.97%16,170.46
19988-4.90%15,378.35
199891.29%15,576.87
19981010.97%17,286.33
1998114.10%17,995.78
1998125.05%18,904.15
19991-0.07%18,891.54
199922.92%19,443.84
199934.25%20,270.20
19994-0.10%20,250.17
19995-0.61%20,126.29
199964.52%21,036.48
19997-3.77%20,242.48
19998-0.60%20,121.42
19999-1.27%19,865.38
1999107.11%21,277.01
1999112.81%21,874.62
199912-0.12%21,848.61
20001-2.48%21,307.18
200023.94%22,146.89
200031.42%22,462.41
20004-2.84%21,824.75
200053.16%22,515.17
200060.85%22,706.62
200070.94%22,920.00
20008-1.08%22,672.54
20009-5.21%21,490.34
200010-0.77%21,324.32
200011-3.32%20,616.34
2000120.46%20,710.14
20011-2.14%20,267.72
20012-9.08%18,427.43
200130.45%18,510.11
200146.88%19,783.48
20015-2.39%19,310.93
20016-2.66%18,797.21
20017-2.05%18,412.65
20018-11.25%16,341.72
200193.18%16,862.05
2001105.05%17,714.11
2001111.47%17,973.81
200112-0.30%17,920.30
20021-3.35%17,319.47
200224.95%18,175.97
20023-3.51%17,537.19
20024-2.82%17,042.57
20025-5.92%16,033.49
20026-10.76%14,308.53
200271.14%14,471.47
20028-4.76%13,782.96
20029-1.37%13,594.54
2002106.63%14,495.26
200211-1.04%14,345.22
200212-0.22%14,313.30
20031-6.41%13,395.13
200321.31%13,570.32
200335.29%14,287.63
200345.31%15,046.62
200355.70%15,904.90
200360.60%15,999.68
20037-0.17%15,973.07
200383.16%16,478.01
200392.03%16,812.15
2003101.21%17,015.68
2003113.06%17,537.01
2003124.93%18,402.45
200411.09%18,602.42
20042-1.57%18,311.26
200430.97%18,488.54
20044-2.56%18,014.44
200452.86%18,529.24
20046-2.24%18,114.41
20047-1.39%17,863.06
200482.78%18,360.12
200490.10%18,378.96
2004104.77%19,256.35
2004112.73%19,781.56
200412-1.35%19,514.66
200511.68%19,842.74
20052-0.26%19,792.03
20053-2.41%19,315.25
200541.34%19,573.28
200552.18%20,000.11
200561.81%20,361.67
200570.31%20,424.80
200580.28%20,481.93
20059-2.62%19,944.43
2005103.96%20,734.54
2005112.14%21,179.12
2005121.47%21,489.77
20061-0.02%21,486.19
200621.49%21,805.51
200630.80%21,979.59
20064-0.79%21,806.69
20065-2.71%21,216.64
200660.72%21,369.41
200672.29%21,859.15
200682.53%22,412.44
200693.62%23,222.85
2006102.00%23,687.69
2006112.15%24,196.57
2006120.69%24,364.21
200711.60%24,753.07
20072-2.47%24,140.71
200734.18%25,149.85
200743.39%26,002.87
200750.34%26,092.56
200760.57%26,242.49
20077-4.20%25,140.01
200783.07%25,913.01
200792.99%26,688.23
200710-4.81%25,405.51
2007111.24%25,720.08
200712-6.64%24,013.51
20081-1.56%23,637.94
20082-2.63%23,017.06
200834.24%23,993.86
200842.56%24,608.73
20085-4.25%23,563.70
20086-6.08%22,131.38
200872.11%22,598.48
20088-4.85%21,503.01
20089-20.19%17,160.78
200810-8.61%15,684.03
200811-0.35%15,628.95
200812-1.10%15,457.72
20091-6.70%14,421.67
20092-5.69%13,601.45
2009312.32%15,277.38
200946.66%16,294.83
200952.87%16,762.30
200961.28%16,976.47
200978.12%18,355.08
200983.65%19,025.11
200992.40%19,482.30
2009102.09%19,890.32
2009112.23%20,333.05
2009121.36%20,608.97
20101-2.90%20,011.62
201025.94%21,200.92
201034.09%22,067.60
20104-5.88%20,769.49
20105-3.54%20,033.51
20106-0.16%20,001.65
201070.86%20,174.38
201083.37%20,854.49
201094.58%21,809.09
2010102.49%22,352.34
2010113.71%23,182.45
2010123.46%23,985.07
201113.15%24,740.80
20112-1.11%24,465.57
201132.22%25,008.95
201140.66%25,173.82
20115-3.66%24,251.80
201163.10%25,004.03
20117-10.40%22,403.45
20118-0.79%22,226.63
201193.02%22,897.63
2011101.77%23,302.26
2011111.55%23,664.55
2011124.78%24,796.32
201214.16%25,828.49
201222.88%26,573.35
20123-0.04%26,563.19
20124-3.09%25,742.14
20125-1.15%25,445.48
201262.92%26,188.77
201273.39%27,075.96
201283.02%27,893.97
20129-0.22%27,833.41
201210-2.84%27,043.63
2012112.18%27,631.98
2012124.27%28,811.52
201312.33%29,483.70
201322.72%30,286.38
201331.45%30,726.68
201344.57%32,132.20
20135-1.12%31,773.04
201363.25%32,807.08
201370.25%32,889.93
201381.19%33,282.13
201392.12%33,986.90
2013103.86%35,298.79
2013111.52%35,835.92
2013120.97%36,182.74
20141-0.13%36,135.69
201422.72%37,119.40
201430.20%37,194.28
201441.53%37,764.11
201453.20%38,971.17
201461.50%39,554.11
20147-0.43%39,385.23
201481.78%40,085.52
20149-2.65%39,024.62
2014105.71%41,251.23
2014110.63%41,512.71
201412-1.11%41,051.90
201512.83%42,212.60
201520.06%42,235.97
201530.88%42,606.98
201540.98%43,024.06
20155-0.44%42,836.69
20156-0.08%42,802.58
20157-2.42%41,764.88
20158-4.51%39,882.49
201594.32%41,604.27
2015102.93%42,824.30
201511-1.10%42,351.96
201512-6.42%39,633.13
20161-0.55%39,415.18
201626.36%41,923.06
201632.83%43,110.01
20164-0.30%42,978.80
201651.07%43,437.16
201663.30%44,869.48
201671.20%45,407.58
20168-0.44%45,208.39
20169-0.51%44,979.64
2016101.20%45,519.92
2016113.95%47,316.12
2016121.44%47,996.35
201712.58%49,232.95
201721.75%50,094.16
20173-0.15%50,017.02
201741.69%50,863.49
201751.78%51,767.04
201760.99%52,278.44
201770.25%52,407.99
201781.65%53,274.43
201792.73%54,731.38
2017101.59%55,601.37
2017112.88%57,204.63
2017124.86%59,985.86
20181-2.89%58,254.26
201820.06%58,291.88
20183-1.66%57,321.92
201841.96%58,446.36
201852.11%59,681.31
201861.58%60,624.72
201872.45%62,110.51
201881.68%63,153.81
20189-3.85%60,723.03
201810-2.08%59,462.36
201811-5.56%56,154.75
2018121.74%57,129.40
201915.83%60,459.41
201921.95%61,637.18
201933.72%63,932.06
20194-1.53%62,952.76
201951.40%63,837.09
201963.83%66,280.35
20197-3.13%64,202.85
201983.09%66,183.66
201990.01%66,190.14
2019104.43%69,124.81
2019112.47%70,831.72
2019123.35%73,202.04
202010.12%73,291.40
20202-18.92%59,426.34
202034.32%61,992.74
202045.89%65,642.48
202056.51%69,914.67
202063.48%72,345.21
202075.89%76,608.88
20208-0.63%76,128.54
202091.73%77,442.52
2020103.95%80,504.68
2020114.26%83,934.25
2020122.80%86,280.46
202112.49%88,430.16
202120.82%89,156.49
202136.02%94,525.04
202140.76%95,243.65
202151.81%96,967.96
202163.07%99,943.13
202172.19%102,127.05
20218-0.08%102,040.75
202190.45%102,502.16
2021104.74%107,365.62
2021110.27%107,650.58
202112-2.05%105,441.64
20221-2.90%102,381.12
20222-0.89%101,467.28
202230.12%101,587.32
20224-7.87%93,589.62
20225-3.37%90,436.23
202260.46%90,856.47
202276.45%96,714.35
20228-7.28%89,676.05
20229-3.09%86,904.01
2022105.29%91,496.97
2022110.01%91,506.88
2022121.38%92,766.44
202313.15%95,685.77
20232-2.59%93,211.88
202334.00%96,936.84
202340.74%97,651.94
202354.94%102,478.08
202363.88%106,450.17
20237-1.00%105,388.18
20238-0.95%104,383.23
20239-3.04%101,212.78
2023104.60%105,870.31
2023115.18%111,349.36
2023122.91%114,591.68
202414.20%119,403.69
202423.28%123,322.66
20243-1.01%122,078.18
202442.52%125,150.54
202453.55%129,594.11
202462.38%132,678.01
20247-0.97%131,390.23
202482.72%134,966.82
202493.15%139,220.82
2024102.48%142,675.98
2024111.47%144,773.77
202412-0.42%144,167.86
Click to show 1482 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 $1.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $1.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1900. This would result in a final amount of $122,035.38, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $144,167.86).

YearMonthContribution ($)Amount ($)
190010.040.04
190020.040.08
190030.040.12
190040.040.16
190050.040.19
190060.040.23
190070.040.28
190080.040.31
190090.040.36
1900100.040.44
1900110.040.51
1900120.040.56
190110.040.62
190120.040.69
190130.040.79
190140.040.79
190150.040.92
190160.040.90
190170.040.95
190180.040.99
190190.041.02
1901100.041.09
1901110.041.11
1901120.041.18
190210.041.24
19022-1.24
19023-1.29
19024-1.29
19025-1.29
19026-1.32
19027-1.36
19028-1.37
19029-1.33
190210-1.28
190211-1.25
190212-1.32
19031-1.32
19032-1.27
19033-1.22
19034-1.20
19035-1.14
19036-1.09
19037-1.06
19038-1.04
19039-1.01
190310-1.02
190311-1.07
190312-1.10
19041-1.07
19042-1.07
19043-1.10
19044-1.09
19045-1.09
19046-1.14
19047-1.19
19048-1.24
19049-1.32
190410-1.40
190411-1.41
190412-1.45
19051-1.52
19052-1.56
19053-1.55
19054-1.48
19055-1.50
19056-1.55
19057-1.61
19058-1.62
19059-1.65
190510-1.65
190511-1.69
190512-1.76
19061-1.75
19062-1.71
19063-1.69
19064-1.65
19065-1.68
19066-1.64
19067-1.77
19068-1.83
19069-1.78
190610-1.82
190611-1.81
190612-1.77
19071-1.72
19072-1.56
19073-1.57
19074-1.52
19075-1.48
19076-1.54
19077-1.43
19078-1.43
19079-1.28
190710-1.21
190711-1.28
190712-1.34
19081-1.30
19082-1.36
19083-1.44
19084-1.52
19085-1.53
19086-1.60
19087-1.67
19088-1.66
19089-1.69
190810-1.81
190811-1.86
190812-1.87
19091-1.82
19092-1.85
19093-1.94
19094-2.02
19095-2.06
19096-2.10
19097-2.15
19098-2.16
19099-2.18
190910-2.18
190911-2.21
190912-2.17
19101-2.10
19102-2.16
19103-2.12
19104-2.09
19105-2.00
19106-1.91
19107-1.96
19108-1.98
19109-2.08
191010-2.09
191011-2.04
191012-2.10
19111-2.14
19112-2.13
19113-2.13
19114-2.18
19115-2.23
19116-2.23
19117-2.14
19118-2.03
19119-2.05
191110-2.14
191111-2.16
191112-2.17
19121-2.16
19122-2.23
19123-2.31
19124-2.32
19125-2.33
19126-2.34
19127-2.40
19128-2.43
19129-2.43
191210-2.41
191211-2.34
191212-2.33
19131-2.25
19132-2.22
19133-2.23
19134-2.18
19135-2.08
19136-2.12
19137-2.18
19138-2.22
19139-2.16
191310-2.11
191311-2.12
191312-2.22
19141-2.26
19142-2.22
19143-2.18
19144-2.20
19145-2.20
19146-2.09
19147-2.10
19148-2.11
19149-2.12
191410-2.13
191411-2.05
191412-2.10
19151-2.08
19152-2.14
19153-2.31
19154-2.27
19155-2.31
19156-2.31
19157-2.41
19158-2.51
19159-2.66
191510-2.77
191511-2.78
191512-2.75
19161-2.72
19162-2.73
19163-2.71
19164-2.78
19165-2.82
19166-2.79
19167-2.83
19168-2.95
19169-3.06
191610-3.14
191611-3.03
191612-2.97
19171-2.82
19172-2.92
19173-2.90
19174-2.81
19175-2.89
19176-2.82
19177-2.76
19178-2.64
19179-2.52
191710-2.32
191711-2.26
191712-2.42
19181-2.51
19182-2.48
19183-2.48
19184-2.57
19185-2.60
19186-2.63
19187-2.68
19188-2.68
19189-2.81
191810-2.90
191811-2.86
191812-2.86
19191-2.89
19192-2.99
19193-3.11
19194-3.34
19195-3.45
19196-3.58
19197-3.36
19198-3.43
19199-3.62
191910-3.53
191911-3.44
191912-3.42
19201-3.16
19202-3.40
19203-3.39
19204-3.19
19205-3.15
19206-3.17
19207-3.06
19208-3.19
19209-3.21
192010-3.06
192011-2.80
192012-2.95
19211-2.94
19212-2.88
19213-2.91
19214-3.02
19215-2.80
19216-2.80
19217-2.79
19218-2.87
19219-2.93
192110-3.10
192111-3.23
192112-3.24
19221-3.33
19222-3.48
19223-3.70
19224-3.87
19225-3.85
19226-3.89
19227-4.06
19228-4.18
19229-4.30
192210-4.10
192211-4.11
192212-4.19
19231-4.39
19232-4.48
19233-4.34
19234-4.16
19235-4.02
19236-3.91
19237-3.95
19238-3.99
19239-3.95
192310-4.09
192311-4.25
192312-4.42
19241-4.46
19242-4.39
19243-4.32
19244-4.32
19245-4.43
19246-4.66
19247-4.84
19248-4.82
19249-4.78
192410-5.07
192411-5.37
192412-5.61
19251-5.68
19252-5.56
19253-5.53
19254-5.73
19255-5.86
19256-6.05
19257-6.15
19258-6.32
19259-6.56
192510-6.79
192511-6.93
192512-7.06
19261-7.10
19262-6.65
19263-6.49
19264-6.56
19265-6.91
19266-7.23
19267-7.55
19268-7.69
19269-7.55
192610-7.68
192611-7.89
192612-7.87
19271-8.06
19272-8.22
19273-8.45
19274-8.78
19275-8.93
19276-9.17
19277-9.69
19278-10.28
19279-10.16
192710-10.43
192711-10.71
192712-10.79
19281-10.70
19282-11.32
19283-12.07
19284-12.49
19285-11.92
19286-12.05
19287-12.48
19288-13.40
19289-13.72
192810-14.69
192811-14.79
192812-15.93
19291-16.06
19292-16.39
19293-16.34
19294-16.63
19295-17.00
19296-18.56
19297-19.67
19298-20.50
19299-18.38
192910-13.57
192911-14.16
192912-14.42
19301-15.38
19302-16.01
19303-17.08
19304-16.12
19305-14.54
19306-14.29
19307-14.16
19308-14.21
19309-12.31
193010-11.47
193011-10.76
193012-11.14
19311-12.05
19312-12.34
19313-11.22
19314-10.19
19315-9.92
19316-10.30
19317-10.04
19318-8.60
19319-7.50
193110-7.66
193111-6.27
193112-6.22
19321-6.22
19322-6.29
19323-4.83
19324-4.28
19325-3.75
19326-3.98
19327-6.03
19328-6.65
19329-5.77
193210-5.75
193211-5.60
193212-5.86
19331-5.20
19332-5.21
19333-5.80
19334-7.50
19335-8.82
19336-9.57
19337-9.12
19338-9.08
19339-8.23
193310-8.46
193311-8.65
193312-9.18
19341-9.89
19342-9.42
19343-9.61
19344-8.66
19345-8.81
19346-8.43
19347-8.13
19348-7.97
19349-8.06
193410-8.32
193411-8.41
193412-8.45
19351-8.22
19352-7.74
19353-8.35
19354-9.04
19355-9.42
19356-9.95
19357-10.65
19358-10.91
19359-11.24
193510-12.33
193511-12.36
193512-13.08
19361-13.87
19362-14.21
19363-14.27
19364-13.55
19365-14.17
19366-15.05
19367-15.40
19368-15.62
19369-16.49
193610-17.00
193611-16.76
193612-17.34
19371-17.92
19372-17.96
19373-16.95
19374-16.25
19375-15.71
19376-16.72
19377-16.96
19378-14.62
19379-12.56
193710-11.52
193711-11.41
193712-11.77
19381-11.56
19382-10.87
19383-10.49
19384-10.66
19385-10.97
19386-13.21
19387-13.35
19388-12.81
19389-14.30
193810-14.36
193811-14.00
193812-13.83
19391-13.77
19392-13.81
19393-12.12
19394-12.61
19395-12.89
19396-13.25
19397-13.11
19398-14.56
19399-14.76
193910-14.56
193911-14.27
193912-14.25
19401-14.21
19402-14.19
19403-14.40
19404-12.48
19405-11.47
19406-11.91
19407-12.22
19408-12.81
19409-12.99
194010-13.36
194011-12.88
194012-12.98
19411-12.23
19412-12.38
19413-12.06
19414-11.87
19415-12.36
19416-13.07
19417-13.07
19418-13.19
19419-12.73
194110-12.21
194111-11.50
194112-11.80
19421-11.50
19422-10.96
19423-10.58
19424-10.78
19425-11.40
19426-11.90
19427-11.90
19428-12.10
19429-13.06
194210-13.34
194211-13.48
194212-14.36
19431-15.29
19432-15.90
19433-16.50
19434-17.22
19435-17.60
19436-18.03
19437-17.21
19438-17.65
19439-17.56
194310-16.83
194311-17.12
194312-17.75
19441-17.71
19442-18.28
19443-18.04
19444-18.44
19445-19.39
19446-19.97
19447-19.76
19448-19.52
19449-20.08
194410-20.03
194411-20.55
194412-21.24
19451-22.04
19452-22.10
19453-22.75
19454-23.69
19455-24.21
19456-23.80
19457-23.97
19458-25.69
19459-26.85
194510-27.82
194511-28.38
194512-29.60
19461-29.77
19462-28.98
19463-30.94
19464-31.10
19465-30.99
19466-30.20
19467-29.71
19468-25.43
19469-24.95
194610-24.95
194611-25.80
194612-26.03
19471-27.14
19472-26.15
19473-25.28
19474-24.94
19475-25.92
19476-27.65
19477-27.22
19478-26.63
19479-27.44
194710-27.24
194711-26.93
194712-26.70
19481-25.51
19482-26.00
19483-28.13
19484-29.63
19485-30.99
19486-30.38
19487-29.63
19488-29.43
19489-30.36
194810-28.81
194811-28.77
194812-29.24
19491-28.26
19492-28.69
19493-28.81
19494-28.75
19495-27.34
19496-29.05
19497-30.26
19498-30.83
19499-31.80
194910-32.42
194911-33.47
194912-34.35
19501-35.22
19502-35.70
19503-36.91
19504-38.35
19505-39.18
19506-36.55
19507-38.98
19508-40.58
19509-42.49
195010-42.65
195011-42.74
195012-46.16
19511-48.15
19512-47.61
19513-48.53
19514-48.83
19515-48.28
19516-49.42
19517-51.87
19518-53.50
19519-53.51
195110-52.31
195111-54.20
195112-56.28
19521-55.53
19522-55.94
19523-56.06
19524-56.31
19525-58.14
19526-60.10
19527-60.63
19528-59.96
19529-58.99
195210-61.15
195211-63.91
195212-64.54
19531-64.04
19532-64.66
19533-61.76
19534-62.38
19535-60.44
19536-61.60
19537-62.16
19538-59.60
19539-61.70
195310-63.37
195311-64.53
195312-66.49
19541-68.26
19542-70.03
19543-73.14
19544-76.38
19545-77.31
19546-80.76
19547-82.69
19548-84.96
19549-87.26
195410-91.02
195411-95.52
195412-97.59
19551-101.21
19552-100.77
19553-104.61
19554-104.52
19555-110.95
19556-119.43
19557-119.07
19558-124.81
19559-118.91
195510-127.31
195511-128.89
195512-125.81
19561-127.00
19562-136.15
19563-138.17
19564-134.25
19565-133.90
19566-141.60
19567-141.19
19568-136.83
19569-135.53
195610-134.56
195611-137.00
195612-134.45
19571-129.07
19572-131.16
19573-134.63
19574-140.23
19575-142.97
19576-146.29
19577-138.68
19578-133.49
19579-125.62
195710-123.36
195711-123.75
195712-126.63
19581-127.52
19582-130.61
19583-131.78
19584-136.47
19585-140.20
19586-144.51
19587-150.36
19588-154.79
19589-161.54
195810-166.91
195811-170.52
195812-177.78
19591-175.53
19592-180.45
19593-183.95
19594-187.19
19595-186.06
19596-193.92
19597-193.31
19598-186.15
19599-186.48
195910-187.72
195911-194.23
195912-191.34
19601-184.43
19602-182.45
19603-185.34
19604-184.18
19605-191.52
19606-187.32
19607-190.11
19608-184.94
19609-181.84
196010-188.28
196011-193.35
196012-203.84
19611-212.76
19612-219.98
19613-226.40
19614-229.27
19615-226.79
19616-226.73
19617-235.43
19618-234.15
19619-237.30
196110-248.62
196111-251.51
196112-242.74
19621-247.38
19622-248.22
19623-240.91
19624-223.60
19625-198.08
19626-203.47
19627-209.62
19628-208.37
19629-202.42
196210-217.00
196211-227.03
196212-236.45
19631-240.22
19632-239.96
19633-251.90
19634-257.62
19635-258.18
19636-255.02
19637-262.75
19638-270.36
19639-271.71
196310-270.88
196311-277.36
196312-286.59
19641-290.84
19642-296.86
19643-301.89
19644-305.57
19645-304.50
19646-316.56
19647-312.68
19648-318.83
19649-325.11
196410-328.15
196411-323.26
196412-332.38
19651-335.62
19652-336.75
19653-341.99
19654-347.92
19655-332.24
19656-332.58
19657-339.62
19658-351.84
19659-360.62
196510-364.50
196511-363.73
196512-370.93
19661-369.34
19662-355.07
19663-366.87
19664-348.49
19665-346.54
19666-346.61
19667-326.61
19668-316.08
19669-314.29
196610-331.00
196611-333.37
196612-347.14
19671-360.09
19672-369.57
19673-376.94
19674-384.69
19675-380.88
19676-388.47
19677-395.66
19678-402.20
19679-402.59
196710-390.99
196711-403.16
196712-403.09
19681-385.93
19682-379.91
19683-409.02
19684-419.48
19685-431.82
19686-432.03
19687-423.67
19688-438.53
19689-450.45
196810-458.49
196811-464.39
196812-445.88
19691-444.82
19692-436.30
19693-446.23
19694-461.90
19695-438.94
19696-420.48
19697-419.29
19698-421.93
19699-427.61
196910-431.87
196911-410.16
196912-407.74
19701-394.71
19702-402.65
19703-391.59
19704-347.74
19705-346.80
19706-348.61
19707-359.96
19708-382.71
19709-392.24
197010-393.05
197011-421.19
197012-438.50
19711-456.70
19712-469.64
19713-486.89
19714-481.50
19715-473.81
19716-471.62
19717-464.47
19718-476.01
19719-467.14
197110-446.72
197111-478.72
197112-499.89
19721-510.33
19722-523.70
19723-530.29
19724-526.17
19725-528.89
19726-526.22
19727-546.13
19728-539.52
19729-541.78
197210-570.24
197211-583.42
197212-589.20
19731-569.60
19732-561.94
19733-552.76
19734-538.56
19735-527.84
19736-534.23
19737-525.49
19738-535.98
19739-558.68
197310-520.39
197311-484.98
197312-493.23
19741-481.03
19742-503.03
19743-478.81
19744-465.85
19745-467.98
19746-414.88
19747-399.26
19748-359.28
19749-367.82
197410-381.59
197411-358.34
197412-389.28
19751-431.35
19752-452.80
19753-459.54
19754-490.38
19755-504.58
19756-506.76
19757-471.30
19758-467.29
19759-490.51
197510-500.53
197511-494.63
197512-541.84
19761-564.48
19762-569.01
19763-575.24
19764-573.04
19765-578.20
19766-593.61
19767-590.28
19768-604.67
19769-585.88
197610-583.73
197611-605.83
197612-602.57
19771-588.30
19772-587.98
19773-580.97
19774-581.34
19775-586.57
19776-594.09
19777-581.74
19778-574.91
19779-562.27
197710-567.79
197711-567.33
197712-548.10
19781-542.77
19782-544.21
19783-570.50
19784-601.90
19785-605.95
19786-605.58
19787-649.95
19788-652.55
19789-634.45
197810-599.95
197811-611.49
197812-637.08
19791-630.35
19792-645.11
19793-660.79
19794-648.28
19795-663.95
19796-673.39
19797-707.15
19798-718.05
19799-693.97
197910-691.74
197911-722.20
197912-746.12
19801-778.92
19802-710.55
19803-702.29
19804-737.66
19805-788.28
19806-827.46
19807-856.46
19808-880.74
19809-910.03
198010-952.02
198011-940.17
198012-940.26
19811-911.40
19812-949.16
19813-961.44
19814-945.89
19815-954.00
19816-934.77
19817-942.27
19818-864.03
19819-878.96
198110-905.71
198111-916.39
198112-872.37
19821-855.67
19822-832.19
19823-877.70
19824-882.70
19825-836.18
19826-838.22
19827-844.87
19828-947.07
19829-1,031.19
198210-1,077.59
198211-1,092.20
198212-1,135.07
19831-1,159.25
19832-1,204.06
19833-1,254.60
19834-1,310.10
19835-1,333.08
19836-1,342.52
19837-1,310.20
19838-1,353.62
19839-1,362.39
198310-1,346.84
198311-1,345.11
198312-1,366.31
19841-1,296.46
19842-1,302.20
19843-1,308.80
19844-1,305.50
19845-1,281.37
19846-1,269.73
19847-1,386.62
19848-1,406.13
19849-1,400.33
198410-1,418.34
198411-1,408.31
198412-1,474.46
19851-1,559.79
19852-1,552.33
19853-1,568.24
19854-1,611.14
19855-1,651.60
19856-1,688.71
19857-1,657.55
19858-1,626.31
19859-1,650.63
198510-1,756.61
198511-1,849.61
198512-1,863.51
19861-1,969.68
19862-2,091.46
19863-2,148.80
19864-2,159.37
19865-2,227.03
19866-2,186.85
19867-2,236.73
19868-2,181.79
19869-2,179.83
198610-2,256.84
198611-2,295.41
198612-2,448.59
19871-2,606.82
19872-2,720.90
19873-2,697.60
19874-2,702.26
19875-2,823.82
19876-2,911.99
19877-3,099.93
19878-3,005.99
19879-2,649.66
198710-2,323.66
198711-2,292.65
198712-2,390.01
19881-2,469.56
19882-2,549.38
19883-2,526.79
19884-2,471.50
19885-2,619.74
19886-2,611.70
19887-2,566.82
19888-2,616.29
19889-2,715.75
198810-2,660.88
198811-2,722.77
198812-2,818.41
19891-2,911.42
19892-2,906.71
19893-3,010.33
19894-3,134.21
19895-3,240.55
19896-3,331.29
19897-3,487.55
19898-3,503.44
19899-3,513.47
198910-3,449.75
198911-3,544.16
198912-3,465.79
19901-3,378.20
19902-3,469.65
19903-3,476.45
19904-3,610.33
19905-3,724.77
19906-3,731.10
19907-3,437.79
19908-3,288.55
19909-3,212.40
199010-3,308.25
199011-3,459.98
199012-3,436.28
19911-3,835.12
19912-3,951.88
19913-4,041.15
19914-4,033.92
19915-4,047.92
19916-4,079.51
19917-4,188.80
19918-4,176.10
19919-4,183.69
199110-4,184.35
199111-4,223.48
199112-4,534.24
19921-4,507.00
19922-4,461.37
19923-4,473.16
19924-4,565.68
19925-4,505.00
19926-4,591.14
19927-4,634.38
19928-4,651.90
19929-4,596.92
199210-4,723.65
199211-4,878.17
199212-4,885.14
19931-4,969.37
19932-5,076.22
19933-5,008.11
19934-5,044.40
19935-5,088.05
19936-5,091.15
19937-5,180.88
19938-5,251.08
19939-5,316.29
199310-5,316.70
199311-5,363.86
199312-5,456.97
19941-5,452.84
19942-5,375.21
19943-5,195.33
19944-5,250.31
19945-5,308.49
19946-5,280.94
19947-5,443.71
19948-5,488.21
19949-5,463.84
199410-5,443.63
199411-5,387.79
199412-5,519.86
19951-5,730.67
19952-5,877.27
19953-6,066.25
19954-6,269.34
19955-6,468.60
19956-6,698.07
19957-6,732.44
19958-6,982.73
19959-7,046.46
199510-7,212.64
199511-7,457.09
199512-7,469.21
19961-7,910.22
19962-7,894.34
19963-7,909.90
19964-8,096.16
19965-8,199.68
19966-7,914.61
19967-8,158.05
19968-8,323.14
19969-8,666.02
199610-9,103.83
199611-9,212.92
199612-9,513.03
19971-9,927.91
19972-9,865.99
19973-9,530.03
19974-10,408.49
19975-10,963.97
19976-11,592.86
19977-11,633.18
19978-11,771.85
19979-11,965.54
199710-11,827.69
199711-12,139.30
199712-12,168.08
19981-12,947.10
19982-13,634.97
19983-14,099.33
19984-14,068.05
19985-14,084.43
19986-14,713.68
19987-13,687.99
19988-13,017.49
19989-13,185.52
199810-14,632.55
199811-15,233.09
199812-16,002.01
19991-15,991.33
19992-16,458.84
19993-17,158.35
19994-17,141.39
19995-17,036.52
19996-17,806.98
19997-17,134.88
19998-17,032.41
19999-16,815.67
199910-18,010.59
199911-18,516.46
199912-18,494.43
20001-18,036.13
20002-18,746.92
20003-19,014.00
20004-18,474.24
20005-19,058.66
20006-19,220.73
20007-19,401.35
20008-19,191.88
20009-18,191.17
200010-18,050.63
200011-17,451.34
200012-17,530.74
20011-17,156.24
20012-15,598.47
20013-15,668.46
20014-16,746.35
20015-16,346.34
20016-15,911.49
20017-15,585.96
20018-13,832.96
20019-14,273.40
200110-14,994.66
200111-15,214.49
200112-15,169.20
20021-14,660.61
20022-15,385.62
20023-14,844.90
20024-14,426.22
20025-13,572.05
20026-12,111.90
20027-12,249.83
20028-11,667.01
20029-11,507.52
200210-12,269.96
200211-12,142.96
200212-12,115.94
20031-11,338.72
20032-11,487.02
20033-12,094.21
20034-12,736.68
20035-13,463.20
20036-13,543.43
20037-13,520.90
20038-13,948.32
20039-14,231.17
200310-14,403.45
200311-14,844.75
200312-15,577.33
20041-15,746.60
20042-15,500.14
20043-15,650.20
20044-15,248.89
20045-15,684.65
20046-15,333.51
20047-15,120.74
20048-15,541.50
20049-15,557.44
200410-16,300.14
200411-16,744.72
200412-16,518.79
20051-16,796.51
20052-16,753.58
20053-16,350.00
20054-16,568.41
20055-16,929.72
20056-17,235.77
20057-17,289.21
20058-17,337.56
20059-16,882.59
200510-17,551.40
200511-17,927.72
200512-18,190.68
20061-18,187.66
20062-18,457.95
20063-18,605.30
20064-18,458.95
20065-17,959.49
20066-18,088.80
20067-18,503.36
20068-18,971.71
20069-19,657.71
200610-20,051.19
200611-20,481.94
200612-20,623.84
20071-20,953.01
20072-20,434.65
20073-21,288.88
20074-22,010.94
20075-22,086.86
20076-22,213.77
20077-21,280.55
20078-21,934.87
20079-22,591.08
200710-21,505.28
200711-21,771.57
200712-20,326.98
20081-20,009.07
20082-19,483.51
20083-20,310.35
20084-20,830.82
20085-19,946.23
20086-18,733.80
20087-19,129.18
20088-18,201.89
20089-14,526.28
200810-13,276.24
200811-13,229.61
200812-13,084.67
20091-12,207.67
20092-11,513.37
20093-12,932.02
20094-13,793.27
20095-14,188.98
20096-14,370.26
20097-15,537.23
20098-16,104.39
20099-16,491.40
200910-16,836.78
200911-17,211.55
200912-17,445.10
20101-16,939.46
20102-17,946.18
20103-18,679.81
20104-17,580.99
20105-16,957.99
20106-16,931.02
20107-17,077.23
20108-17,652.93
20109-18,460.99
201010-18,920.83
201011-19,623.50
201012-20,302.91
20111-20,942.62
20112-20,709.65
20113-21,169.60
20114-21,309.16
20115-20,528.69
20116-21,165.44
20117-18,964.09
20118-18,814.42
20119-19,382.41
201110-19,724.92
201111-20,031.60
201112-20,989.62
20121-21,863.33
20122-22,493.84
20123-22,485.24
20124-21,790.23
20125-21,539.12
20126-22,168.30
20127-22,919.29
20128-23,611.72
20129-23,560.45
201210-22,891.93
201211-23,389.95
201212-24,388.41
20131-24,957.40
20132-25,636.85
20133-26,009.56
20134-27,199.30
20135-26,895.28
20136-27,770.58
20137-27,840.71
20138-28,172.70
20139-28,769.27
201310-29,879.76
201311-30,334.43
201312-30,628.01
20141-30,588.18
20142-31,420.87
20143-31,484.26
20144-31,966.61
20145-32,988.36
20146-33,481.81
20147-33,338.86
20148-33,931.63
20149-33,033.60
201410-34,918.39
201411-35,139.73
201412-34,749.66
20151-35,732.17
20152-35,751.96
20153-36,066.01
20154-36,419.06
20155-36,260.45
20156-36,231.58
20157-35,353.18
20158-33,759.78
20159-35,217.23
201510-36,249.96
201511-35,850.14
201512-33,548.69
20161-33,364.21
20162-35,487.08
20163-36,491.81
20164-36,380.74
20165-36,768.74
20166-37,981.17
20167-38,436.66
20168-38,268.05
20169-38,074.42
201610-38,531.75
201611-40,052.20
201612-40,628.01
20171-41,674.77
20172-42,403.77
20173-42,338.46
20174-43,054.99
20175-43,819.83
20176-44,252.72
20177-44,362.38
20178-45,095.80
20179-46,329.08
201710-47,065.52
201711-48,422.64
201712-50,776.90
20181-49,311.13
20182-49,342.98
20183-48,521.92
20184-49,473.74
20185-50,519.11
20186-51,317.68
20187-52,575.38
20188-53,458.51
20189-51,400.90
201810-50,333.76
201811-47,533.94
201812-48,358.96
20191-51,177.75
20192-52,174.71
20193-54,117.29
20194-53,288.33
20195-54,036.89
20196-56,105.07
20197-54,346.50
20198-56,023.22
20199-56,028.71
201910-58,512.85
201911-59,957.72
201912-61,964.14
20201-62,039.79
20202-50,303.28
20203-52,475.69
20204-55,565.12
20205-59,181.45
20206-61,238.85
20207-64,847.97
20208-64,441.37
20209-65,553.63
202010-68,145.70
202011-71,048.76
202012-73,034.78
20211-74,854.47
20212-75,469.29
20213-80,013.66
20214-80,621.95
20215-82,081.55
20216-84,599.98
20217-86,448.62
20218-86,375.58
20219-86,766.15
202110-90,882.98
202111-91,124.18
202112-89,254.36
20221-86,663.69
20222-85,890.14
20223-85,991.75
20224-79,221.85
20225-76,552.56
20226-76,908.29
20227-81,866.87
20228-75,909.09
20229-73,562.61
202210-77,450.46
202211-77,458.85
202212-78,525.04
20231-80,996.20
20232-78,902.10
20233-82,055.21
20234-82,660.52
20235-86,745.76
20236-90,108.06
20237-89,209.11
20238-88,358.43
20239-85,674.71
202310-89,617.23
202311-94,255.14
202312-96,999.70
20241-101,072.98
20242-104,390.31
20243-103,336.88
20244-105,937.57
20245-109,698.98
20246-112,309.44
20247-111,219.35
20248-114,246.87
20249-117,847.80
202410-120,772.53
202411-122,548.27
202412-122,035.38
Click to show 1482 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.


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 1900 to 2024
Start Value
Average monthly close
$6.10
End Value
Average monthly close
$4,815.61
Change in price+78,844.49%
+5.53% / yr
Change incl. dividends+14,416,685.91%
+9.97% / yr
Change incl. dividends, inflation-adjusted+386,168.04%
+6.83% / yr
Final amount, nominal
($1 base)
$144,167.86
Final amount, inflation-adjusted
($1 base)
$3,862.68