S&P 500: $100 in 1925 → $1,342,482.14 in 2022

$

Stock market returns since 1925

If you invested $100 in the S&P 500 at the beginning of 1925, you would have about $1,342,482.14 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 1,342,382.14%, or 10.24% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 79,223.90% cumulatively, or 7.09% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $1,145,110.95.

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 $1,342,382.14, or 1,342,382.14%. This means by 2022 you would have $1,342,482.14 in your pocket.

However, it's important to take into account the effect of inflation when considering an investment and especially a long-term investment. You can convert S&P returns to their real (inflation-adjusted) value using an inflation calculation based on the U.S. Bureau of Labor Statistics Consumer Price Index (CPI).

In the case of the returns described above, the CPI in 1925 was 17.500 and the CPI in 2022 was 296.171.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 97 years.

Adjusted for inflation, the $1,342,482.14 nominal end value of the original $100 investment would have a real return of roughly $79,223.90 in 1925 dollars. This means the inflation-adjusted return is 79,223.90% as opposed to the original 1,342,382.14%.

For more information on inflation, see our U.S. inflation calculator for 1925.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1170-month period between 1925 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
192511.29%101.2917.30
19252-2.19%99.0717.20
19253-0.61%98.4717.30
192543.67%102.0817.20
192552.24%104.3717.30
192563.22%107.7317.50
192571.79%109.6517.70
192582.74%112.6617.70
192593.73%116.8617.70
1925103.53%120.9817.70
1925112.04%123.4518.00
1925121.93%125.8217.90
192610.56%126.5317.90
19262-6.38%118.4517.90
19263-2.35%115.6617.80
192641.15%117.0017.90
192655.22%123.1017.80
192664.66%128.8317.70
192674.39%134.4917.50
192681.94%137.1017.40
19269-1.83%134.5917.50
1926101.74%136.9317.60
1926112.71%140.6317.70
192612-0.24%140.2917.70
192712.37%143.6217.50
192721.97%146.4517.40
192732.88%150.6617.30
192743.87%156.4917.30
192751.70%159.1517.40
192762.62%163.3317.60
192775.73%172.6817.30
192786.06%183.1517.20
19279-1.17%181.0217.30
1927102.66%185.8317.40
1927112.72%190.8817.30
1927120.77%192.3417.30
19281-0.83%190.7517.30
192825.75%201.7117.10
192836.66%215.1517.10
192843.44%222.5417.10
19285-4.57%212.3817.20
192861.09%214.7017.10
192873.59%222.4117.10
192887.37%238.8117.10
192892.36%244.4417.30
1928107.08%261.7517.20
1928110.70%263.5717.20
1928127.69%283.8417.10
192910.81%286.1417.10
192922.05%292.0117.10
19293-0.30%291.1317.00
192941.80%296.3616.90
192952.20%302.8917.00
192969.20%330.7517.10
192975.96%350.4617.30
192984.24%365.3317.30
19299-10.32%327.6117.30
192910-26.19%241.8117.30
1929114.37%252.3817.30
1929121.83%256.9917.20
193016.64%274.0517.10
193024.12%285.3517.00
193036.69%304.4316.90
19304-5.65%287.2217.00
19305-9.77%259.1616.90
19306-1.76%254.6016.80
19307-0.90%252.3216.60
193080.34%253.1916.50
19309-13.37%219.3316.60
193010-6.80%204.4216.50
193011-6.19%191.7716.40
1930123.56%198.5916.10
193118.14%214.7515.90
193122.38%219.8715.70
19313-9.08%199.9015.60
19314-9.16%181.5915.50
19315-2.68%176.7315.30
193163.86%183.5415.10
19317-2.49%178.9815.10
19318-14.37%153.2715.10
19319-12.75%133.7215.00
1931102.05%136.4714.90
193111-18.10%111.7714.70
193112-0.85%110.8214.60
19321-0.05%110.7714.30
193221.14%112.0314.10
19323-23.22%86.0114.00
19324-11.31%76.2813.90
19325-12.39%66.8313.70
193266.18%70.9613.60
1932751.35%107.4013.60
1932810.37%118.5413.50
19329-13.22%102.8713.40
193210-0.34%102.5313.30
193211-2.64%99.8213.20
1932124.57%104.3813.10
19331-11.27%92.6212.90
193320.33%92.9312.70
1933311.24%103.3812.60
1933429.32%133.6912.60
1933517.58%157.1912.60
193368.46%170.4912.70
19337-4.64%162.5813.10
19338-0.48%161.7913.20
19339-9.38%146.6213.20
1933102.80%150.7313.20
1933112.32%154.2313.20
1933126.08%163.6113.20
193417.75%176.2913.20
19342-4.80%167.8313.30
193432.02%171.2213.30
19344-9.83%154.4013.30
193451.70%157.0213.30
19346-4.36%150.1813.40
19347-3.51%144.9113.40
19348-2.01%142.0013.40
193491.21%143.7113.60
1934103.21%148.3313.50
1934111.06%149.9013.50
1934120.40%150.5013.40
19351-2.62%146.5613.60
19352-5.93%137.8713.70
193537.94%148.8113.70
193548.27%161.1113.80
193554.17%167.8413.80
193565.60%177.2413.70
193577.10%189.8313.70
193582.43%194.4513.70
193592.99%200.2513.70
1935109.71%219.7013.70
1935110.29%220.3513.80
1935125.82%233.1713.80
193616.03%247.2413.80
193622.41%253.2013.80
193630.41%254.2513.70
19364-5.02%241.4913.70
193654.57%252.5313.70
193666.23%268.2813.80
193672.30%274.4413.90
193681.44%278.4114.00
193695.55%293.8614.00
1936103.10%302.9714.00
193611-1.40%298.7314.00
1936123.46%309.0614.00
193713.30%319.2714.10
193720.23%320.0014.10
19373-5.62%302.0014.20
19374-4.09%289.6614.30
19375-3.34%279.9914.40
193766.39%297.9014.40
193771.44%302.1814.50
19378-13.76%260.5914.50
19379-14.10%223.8514.60
193710-8.27%205.3514.60
193711-1.02%203.2614.50
1937123.24%209.8314.40
19381-1.80%206.0514.20
19382-6.02%193.6514.10
19383-3.44%186.9814.10
193841.56%189.8914.20
193852.93%195.4614.10
1938620.49%235.5114.10
193871.06%238.0014.10
19388-4.08%228.2814.10
1938911.62%254.7914.10
1938100.47%255.9814.00
193811-2.55%249.4514.00
193812-1.16%246.5514.00
19391-0.46%245.4214.00
193920.27%246.0813.90
19393-12.24%215.9613.90
193944.10%224.8013.80
193952.17%229.6813.80
193962.84%236.2013.80
19397-1.07%233.6813.80
1939811.06%259.5113.80
193991.38%263.1014.10
193910-1.41%259.4014.00
193911-1.97%254.2814.00
193912-0.15%253.9014.00
19401-0.23%253.3213.90
19402-0.15%252.9514.00
194031.42%256.5514.00
19404-13.34%222.3214.00
19405-8.09%204.3214.00
194063.87%212.2314.10
194072.65%217.8514.00
194084.76%228.2214.00
194091.47%231.5614.00
1940102.85%238.1614.00
194011-3.59%229.6114.00
1940120.72%231.2714.10
19411-5.72%218.0314.10
194121.18%220.6014.10
19413-2.55%214.9814.20
19414-1.59%211.5714.30
194154.11%220.2514.40
194165.71%232.8314.70
194170.08%233.0114.70
194180.86%235.0214.90
19419-3.43%226.9515.10
194110-4.08%217.6815.30
194111-5.88%204.8815.40
1941122.62%210.2415.50
19421-2.48%205.0315.70
19422-4.76%195.2615.80
19423-3.45%188.5216.00
194241.87%192.0516.10
194255.75%203.0916.30
194264.38%211.9816.30
194270.05%212.0816.40
194281.66%215.6016.50
194297.97%232.7816.50
1942102.15%237.8016.70
1942111.06%240.3116.80
1942126.50%255.9416.90
194316.43%272.4116.90
194324.01%283.3416.90
194333.79%294.0717.20
194344.36%306.9017.40
194352.18%313.5917.50
194362.47%321.3517.50
19437-4.54%306.7617.40
194382.55%314.5917.30
19439-0.50%313.0217.40
194310-4.21%299.8517.40
1943111.77%305.1617.40
1943123.67%316.3517.40
19441-0.24%315.5817.40
194423.24%325.8017.40
19443-1.31%321.5417.40
194442.20%328.6217.50
194455.14%345.5217.50
194463.02%355.9517.60
19447-1.06%352.1917.70
19448-1.23%347.8817.70
194492.88%357.9117.70
194410-0.28%356.8917.70
1944112.60%366.1717.70
1944123.38%378.5717.80
194513.73%392.7017.80
194520.31%393.9417.80
194532.90%405.3717.80
194544.16%422.2317.80
194552.19%431.4717.90
19456-1.70%424.1518.10
194570.71%427.1518.10
194587.18%457.8218.10
194594.51%478.4818.10
1945103.61%495.7418.10
1945112.02%505.7718.10
1945124.30%527.5218.20
194610.59%530.6118.20
19462-2.68%516.4018.10
194636.77%551.3518.30
194640.52%554.2118.40
19465-0.34%552.3318.50
19466-2.55%538.2618.70
19467-1.62%529.5219.80
19468-14.42%453.1520.20
19469-1.87%444.6720.40
194610-0.01%444.6120.80
1946113.39%459.7021.30
1946120.92%463.9321.50
194714.27%483.7421.50
19472-3.67%465.9721.50
19473-3.30%450.6021.90
19474-1.36%444.4721.90
194753.92%461.8921.90
194766.69%492.8122.00
19477-1.56%485.1322.20
19478-2.17%474.6222.50
194793.03%488.9823.00
194710-0.73%485.4123.00
194711-1.12%479.9623.10
194712-0.86%475.8123.40
19481-4.45%454.6523.70
194821.92%463.3723.50
194838.19%501.3123.40
194845.33%528.0323.80
194854.59%552.2523.90
19486-1.96%541.4424.10
19487-2.49%527.9724.40
19488-0.68%524.3924.50
194893.19%541.1124.50
194810-5.10%513.5124.40
194811-0.16%512.7024.20
1948121.63%521.0524.10
19491-3.33%503.7124.00
194921.49%511.2223.80
194930.41%513.3423.80
19494-0.18%512.4023.90
19495-4.91%487.2323.80
194966.26%517.7423.90
194974.17%539.3423.70
194981.87%549.4323.80
194993.14%566.6923.90
1949101.95%577.7323.70
1949113.24%596.4523.80
1949122.63%612.1423.60
195012.52%627.5823.50
195021.38%636.2123.50
195033.39%657.7623.60
195043.91%683.5023.60
195052.16%698.3023.70
19506-6.72%651.3523.80
195076.64%694.5824.10
195084.11%723.1224.30
195094.72%757.2624.40
1950100.38%760.1124.60
1950110.19%761.5924.70
1950128.01%822.6125.00
195114.31%858.0625.40
19512-1.11%848.5125.70
195131.93%864.8625.80
195140.63%870.2925.80
19515-1.15%860.3325.90
195162.37%880.6925.90
195174.97%924.4225.90
195183.14%953.4125.90
195190.03%953.6826.10
195110-2.25%932.1926.20
1951113.61%965.8726.40
1951123.83%1,002.9026.50
19521-1.33%989.5426.50
195220.75%996.9626.30
195230.20%998.9826.30
195240.46%1,003.5826.40
195253.24%1,036.1426.40
195263.37%1,071.0226.50
195270.88%1,080.4626.70
19528-1.11%1,068.4826.70
19529-1.61%1,051.2626.70
1952103.67%1,089.8226.70
1952114.51%1,138.9626.70
1952120.99%1,150.2226.70
19531-0.77%1,141.3326.60
195320.96%1,152.2526.50
19533-4.47%1,100.7126.60
195341.00%1,111.7526.60
19535-3.11%1,077.2026.70
195361.91%1,097.8126.80
195370.90%1,107.6826.80
19538-4.11%1,062.1926.90
195393.52%1,099.5426.90
1953102.71%1,129.3227.00
1953111.84%1,150.0626.90
1953123.02%1,184.8426.90
195412.68%1,216.5526.90
195422.58%1,247.9726.90
195434.45%1,303.5126.90
195444.42%1,361.1626.80
195451.22%1,377.8026.90
195464.46%1,439.2226.90
195472.39%1,473.6826.90
195482.74%1,514.0526.90
195492.71%1,555.0926.80
1954104.30%1,622.0026.80
1954114.95%1,702.3426.80
1954122.17%1,739.2526.70
195513.70%1,803.6926.70
19552-0.44%1,795.8226.70
195533.81%1,864.2126.70
19554-0.08%1,862.7426.70
195556.15%1,977.2126.70
195567.64%2,128.3526.70
19557-0.30%2,121.9726.80
195584.82%2,224.1826.80
19559-4.72%2,119.0926.90
1955107.07%2,268.8326.90
1955111.24%2,296.9026.90
195512-2.39%2,242.0526.80
195610.95%2,263.3426.80
195627.21%2,426.4426.80
195631.48%2,462.4126.80
19564-2.84%2,392.5226.90
19565-0.26%2,386.2527.00
195665.75%2,523.4327.20
19567-0.28%2,516.2527.40
19568-3.09%2,438.5327.30
19569-0.95%2,415.2727.40
195610-0.71%2,398.0627.50
1956111.81%2,441.4427.50
195612-1.86%2,395.9727.60
19571-4.00%2,300.2327.60
195721.62%2,337.5127.70
195732.64%2,399.3127.80
195744.16%2,499.1327.90
195751.95%2,547.9728.00
195762.32%2,607.1328.10
19577-5.21%2,471.4328.30
19578-3.74%2,379.0128.30
19579-5.90%2,238.7328.30
195710-1.80%2,198.4228.30
1957110.32%2,205.4128.40
1957122.33%2,256.7728.40
195810.70%2,272.6128.60
195822.42%2,327.5828.60
195830.90%2,348.4528.80
195843.56%2,432.0028.90
195852.74%2,498.5228.90
195863.07%2,575.2528.90
195874.05%2,679.6629.00
195882.94%2,758.5428.90
195894.36%2,878.7828.90
1958103.33%2,974.5428.90
1958112.16%3,038.8629.00
1958124.25%3,168.1628.90
19591-1.27%3,128.0829.00
195922.81%3,215.8628.90
195931.94%3,278.1328.90
195941.77%3,336.0029.00
19595-0.61%3,315.7829.00
195964.23%3,455.9529.10
19597-0.32%3,444.9529.20
19598-3.70%3,317.3729.20
195990.18%3,323.2429.30
1959100.67%3,345.4729.40
1959113.46%3,461.3329.40
195912-1.49%3,409.9029.40
19601-3.61%3,286.8329.30
19602-1.08%3,251.3929.40
196031.58%3,302.9029.40
19604-0.62%3,282.2829.50
196053.99%3,413.1829.50
19606-2.20%3,338.2229.60
196071.49%3,387.9929.60
19608-2.72%3,295.8129.60
19609-1.67%3,240.6429.60
1960103.54%3,355.3829.80
1960112.69%3,445.6729.80
1960125.43%3,632.6629.80
196114.37%3,791.5629.80
196123.40%3,920.3629.80
196132.92%4,034.7929.80
196141.26%4,085.7729.80
19615-1.08%4,041.6329.80
19616-0.03%4,040.5029.80
196173.84%4,195.6230.00
19618-0.54%4,172.8929.90
196191.34%4,228.9330.00
1961104.77%4,430.7430.00
1961111.16%4,482.2730.00
196112-3.49%4,325.9730.00
196211.91%4,408.5730.00
196220.34%4,423.6030.10
19623-2.94%4,293.3330.10
19624-7.19%3,984.8530.20
19625-11.41%3,530.0730.20
196262.72%3,626.0030.20
196273.02%3,735.6130.30
19628-0.59%3,713.4530.30
19629-2.86%3,607.3830.40
1962107.20%3,867.1430.40
1962114.62%4,045.9530.40
1962124.15%4,213.7230.40
196311.60%4,280.9530.40
19632-0.11%4,276.3230.40
196334.98%4,489.2030.50
196342.27%4,591.0830.50
196350.22%4,601.0330.50
19636-1.22%4,544.8130.60
196373.03%4,682.5730.70
196382.89%4,818.0730.70
196390.50%4,842.1530.70
196310-0.31%4,827.3130.80
1963112.39%4,942.8430.80
1963123.33%5,107.4530.90
196411.48%5,183.0330.90
196422.07%5,290.3830.90
196431.69%5,379.9530.90
196441.22%5,445.6030.90
19645-0.35%5,426.5130.90
196463.96%5,641.4531.00
19647-1.23%5,572.3131.10
196481.97%5,681.8331.00
196491.97%5,793.7731.10
1964100.94%5,848.0531.10
196411-1.49%5,760.9031.20
1964122.82%5,923.4031.20
196510.98%5,981.1631.20
196520.34%6,001.2331.20
196531.56%6,094.7131.30
196541.73%6,200.3031.40
19655-4.51%5,920.8331.40
196560.10%5,926.9331.60
196572.12%6,052.4931.60
196583.60%6,270.1531.60
196592.50%6,426.7031.60
1965101.08%6,495.8531.70
196511-0.21%6,482.1131.70
1965121.98%6,610.4831.80
19661-0.43%6,582.0331.80
19662-3.86%6,327.8132.00
196633.32%6,537.9532.10
19664-5.01%6,210.5632.30
19665-0.56%6,175.8132.30
196660.02%6,176.9532.40
19667-5.77%5,820.5732.50
19668-3.22%5,632.8732.70
19669-0.56%5,601.0732.70
1966105.32%5,898.8332.90
1966110.72%5,941.0532.90
1966124.13%6,186.4432.90
196713.73%6,417.1932.90
196722.63%6,586.2032.90
196731.99%6,717.4333.00
196742.06%6,855.6533.10
19675-0.99%6,787.6633.20
196761.99%6,922.9033.30
196771.85%7,051.0833.40
196781.65%7,167.7033.50
196790.10%7,174.6933.60
196710-2.88%6,967.9333.70
1967113.11%7,184.7533.80
196712-0.02%7,183.5033.90
19681-4.26%6,877.7034.10
19682-1.56%6,770.4634.20
196837.66%7,289.1934.30
196842.56%7,475.6334.40
196852.94%7,695.4634.50
196860.05%7,699.2334.70
19687-1.93%7,550.3334.90
196883.51%7,815.1735.00
196892.72%8,027.5235.10
1968101.79%8,170.8835.30
1968111.29%8,275.9035.40
196812-3.99%7,946.0935.50
19691-0.24%7,927.1435.60
19692-1.91%7,775.4335.80
196932.27%7,952.2636.10
196943.51%8,231.6636.30
19695-4.97%7,822.4436.40
19696-4.21%7,493.4836.60
19697-0.28%7,472.2336.80
196980.63%7,519.1937.00
196991.35%7,620.4337.10
1969101.00%7,696.4437.30
196911-5.03%7,309.5137.50
196912-0.59%7,266.4537.70
19701-3.20%7,034.2137.80
197022.01%7,175.7538.00
19703-2.75%6,978.5938.20
19704-11.20%6,197.0538.50
19705-0.27%6,180.3338.60
197060.52%6,212.6238.80
197073.26%6,414.8939.00
197086.32%6,820.4039.00
197092.49%6,990.1939.20
1970100.21%7,004.6439.40
1970117.16%7,506.0639.60
1970124.11%7,814.6139.80
197114.15%8,139.0039.80
197122.83%8,369.4939.90
197133.67%8,676.9740.00
19714-1.11%8,580.8440.10
19715-1.60%8,443.9040.30
19716-0.46%8,404.8140.60
19717-1.52%8,277.3040.70
197182.49%8,483.1140.80
19719-1.86%8,325.0140.80
197110-4.37%7,961.0840.90
1971117.16%8,531.3840.90
1971124.42%8,908.6841.10
197212.09%9,094.6041.10
197222.62%9,332.8441.30
197231.26%9,450.3441.40
19724-0.78%9,377.0141.50
197250.52%9,425.4141.60
19726-0.50%9,377.9241.70
197273.78%9,732.7541.90
19728-1.21%9,614.9442.00
197290.42%9,655.0742.10
1972105.25%10,162.3742.30
1972112.31%10,397.2742.40
1972120.99%10,500.1442.50
19731-3.33%10,151.0042.60
19732-1.35%10,014.4342.90
19733-1.63%9,850.8643.30
19734-2.57%9,597.7243.60
19735-1.99%9,406.7543.90
197361.21%9,520.5944.20
19737-1.64%9,364.8944.30
197382.00%9,551.7545.10
197394.24%9,956.2945.20
197310-6.85%9,274.0045.60
197311-6.81%8,642.8845.90
1973121.70%8,789.8546.20
19741-2.47%8,572.4946.60
197424.57%8,964.6547.20
19743-4.82%8,532.8547.80
19744-2.71%8,301.9848.00
197450.46%8,339.9448.60
19746-11.35%7,393.6249.00
19747-3.76%7,115.2749.40
19748-10.01%6,402.7750.00
197492.38%6,554.9650.60
1974103.74%6,800.3451.10
197411-6.09%6,386.0851.50
1974128.63%6,937.3751.90
1975110.81%7,687.1352.10
197524.97%8,069.4652.50
197531.49%8,189.4652.70
197546.71%8,739.1952.90
197552.89%8,992.1553.20
197560.43%9,031.0053.60
19757-7.00%8,399.1754.20
19758-0.85%8,327.5554.30
197594.97%8,741.5354.60
1975102.04%8,920.0154.90
197511-1.18%8,814.7955.30
1975129.55%9,656.1855.50
197614.18%10,059.6355.60
197620.80%10,140.3555.80
197631.10%10,251.4355.90
19764-0.38%10,212.1456.10
197650.90%10,304.1156.50
197662.67%10,578.7556.80
19767-0.56%10,519.4557.10
197682.44%10,775.9057.40
19769-3.11%10,440.9657.60
197610-0.37%10,402.6857.90
1976113.79%10,796.5858.00
197612-0.54%10,738.5758.20
19771-2.37%10,484.2258.50
19772-0.05%10,478.5459.10
19773-1.19%10,353.4659.50
197740.06%10,360.1460.00
197750.90%10,453.3560.30
197761.28%10,587.4160.70
19777-2.08%10,367.3461.00
19778-1.18%10,245.4961.20
19779-2.20%10,020.3161.40
1977100.98%10,118.6261.60
197711-0.08%10,110.5161.90
197712-3.39%9,767.7362.10
19781-0.97%9,672.7962.50
197820.27%9,698.4862.90
197834.83%10,166.9263.40
197845.50%10,726.5463.90
197850.67%10,798.7964.50
19786-0.06%10,792.0665.20
197877.33%11,582.9265.70
197880.40%11,629.2266.00
19789-2.77%11,306.6866.50
197810-5.44%10,691.8667.10
1978111.92%10,897.4567.40
1978124.19%11,353.5467.70
19791-1.06%11,233.5468.30
197922.34%11,496.5369.10
197932.43%11,776.0069.80
19794-1.89%11,553.0870.60
197952.42%11,832.3971.50
197961.42%12,000.5172.30
197975.01%12,602.2673.10
197981.54%12,796.3973.80
19799-3.35%12,367.3974.60
197910-0.32%12,327.5175.20
1979114.40%12,870.4175.90
1979123.31%13,296.7476.70
198014.40%13,881.2577.80
19802-8.78%12,662.7878.90
19803-1.16%12,515.6380.10
198045.04%13,145.9381.00
198056.86%14,048.1081.80
198064.97%14,746.2182.70
198073.50%15,263.0282.70
198082.84%15,695.8583.30
198093.32%16,217.7084.00
1980104.61%16,966.1084.80
198011-1.24%16,754.9185.50
1980120.01%16,756.5886.30
19811-3.07%16,242.1287.00
198124.14%16,915.0887.90
198131.29%17,133.9388.50
19814-1.62%16,856.8389.10
198150.86%17,001.3989.80
19816-2.02%16,658.6090.60
198170.80%16,792.3091.60
19818-8.30%15,398.0892.30
198191.73%15,664.0593.20
1981103.04%16,140.8293.40
1981111.18%16,331.1893.70
198112-4.80%15,546.6194.00
19821-1.91%15,249.0694.30
19822-2.74%14,830.5594.60
198235.47%15,641.6894.50
198240.57%15,730.7894.90
19825-5.27%14,901.6795.80
198260.24%14,938.0197.00
198270.79%15,056.6197.50
1982812.10%16,877.9197.70
198298.88%18,376.9197.90
1982104.50%19,203.8598.20
1982111.36%19,464.1698.00
1982123.93%20,228.2897.60
198312.13%20,659.1497.80
198323.87%21,457.7597.90
198334.20%22,358.4197.90
198344.42%23,347.5598.60
198351.75%23,756.9599.20
198360.71%23,925.1899.50
19837-2.41%23,349.2699.90
198383.31%24,123.01100.20
198390.65%24,279.31100.70
198310-1.14%24,002.18101.00
198311-0.13%23,971.43101.20
1983121.58%24,349.20101.30
19841-5.11%23,104.43101.90
198420.44%23,206.63102.40
198430.51%23,324.34102.60
19844-0.25%23,265.43103.10
19845-1.85%22,835.41103.40
19846-0.91%22,627.96103.70
198479.21%24,711.22104.10
198481.41%25,058.90104.50
19849-0.41%24,955.55105.00
1984101.29%25,276.46105.30
198411-0.71%25,097.61105.30
1984124.70%26,276.59105.30
198515.79%27,797.31105.50
19852-0.48%27,664.35106.00
198531.02%27,947.83106.40
198542.74%28,712.38106.90
198552.51%29,433.34107.30
198562.25%30,094.77107.60
19857-1.85%29,539.43107.80
19858-1.88%28,982.61108.00
198591.50%29,416.07108.30
1985106.42%31,304.73108.70
1985115.29%32,962.16109.00
1985120.75%33,209.95109.30
198615.70%35,102.00109.60
198626.18%37,272.28109.30
198632.74%38,294.07108.80
198640.49%38,482.41108.60
198653.13%39,688.16108.90
19866-1.80%38,972.22109.50
198672.28%39,861.12109.50
19868-2.46%38,882.04109.70
19869-0.09%38,847.09110.20
1986103.53%40,219.54110.30
1986111.71%40,906.87110.40
1986126.67%43,636.73110.50
198716.46%46,456.49111.20
198724.38%48,489.61111.60
19873-0.86%48,074.34112.10
198740.17%48,157.43112.70
198754.50%50,323.76113.10
198763.12%51,894.92113.50
198776.45%55,244.23113.80
19878-3.03%53,570.09114.40
19879-11.85%47,219.95115.00
198710-12.30%41,410.29115.30
198711-1.33%40,857.59115.40
1987124.25%42,592.62115.40
198813.33%44,010.34115.70
198823.23%45,432.78116.00
19883-0.89%45,030.24116.50
19884-2.19%44,044.86117.10
198856.00%46,686.76117.50
19886-0.31%46,543.46118.00
19887-1.72%45,743.62118.50
198881.93%46,625.18119.00
198893.80%48,397.69119.80
198810-2.02%47,419.94120.20
1988112.33%48,522.90120.30
1988123.51%50,227.35120.50
198913.30%51,884.77121.10
19892-0.16%51,800.90121.60
198933.56%53,647.49122.30
198944.12%55,855.25123.10
198953.39%57,750.21123.80
198962.80%59,367.32124.10
198974.69%62,152.09124.40
198980.46%62,435.22124.60
198990.29%62,613.94125.00
198910-1.81%61,478.40125.60
1989112.74%63,160.89125.90
198912-2.21%61,764.26126.10
19901-2.53%60,203.36127.40
199022.71%61,833.17128.00
199030.20%61,954.35128.70
199043.85%64,340.17128.90
199053.17%66,379.72129.20
199060.17%66,492.38129.90
19907-7.86%61,265.27130.40
19908-4.34%58,605.71131.60
19909-2.32%57,248.53132.70
1990102.98%58,956.72133.50
1990114.59%61,660.83133.80
199012-0.69%61,238.35133.80
1991111.61%68,346.15134.60
199123.04%70,427.03134.80
199132.26%72,017.86135.00
19914-0.18%71,889.03135.20
199150.35%72,138.50135.60
199160.78%72,701.53136.00
199172.68%74,649.15136.20
19918-0.30%74,422.89136.60
199190.18%74,558.08137.20
1991100.02%74,569.85137.40
1991110.94%75,267.18137.80
1991127.36%80,805.36137.90
19921-0.60%80,319.85138.10
19922-1.01%79,506.71138.60
199230.26%79,716.85139.30
199242.07%81,365.67139.50
19925-1.33%80,284.22139.70
199261.91%81,819.36140.20
199270.94%82,589.87140.50
199280.38%82,902.22140.90
19929-1.18%81,922.27141.30
1992102.76%84,180.78141.80
1992113.27%86,934.50142.00
1992120.14%87,058.73141.90
199311.72%88,559.84142.60
199322.15%90,464.01143.10
19933-1.34%89,250.21143.60
199340.72%89,897.03144.00
199350.87%90,674.80144.20
199360.06%90,730.12144.40
199371.76%92,329.20144.40
199381.35%93,580.24144.80
199391.24%94,742.42145.10
1993100.01%94,749.57145.70
1993110.89%95,590.17145.80
1993121.74%97,249.50145.80
19941-0.08%97,175.88146.20
19942-1.42%95,792.27146.70
19943-3.35%92,586.70147.20
199441.06%93,566.49147.40
199451.11%94,603.29147.50
19946-0.52%94,112.42148.00
199473.08%97,013.04148.40
199480.82%97,806.09149.00
19949-0.44%97,371.82149.40
199410-0.37%97,011.66149.50
199411-1.03%96,016.60149.70
1994122.45%98,370.14149.70
199513.82%102,126.99150.30
199522.56%104,739.57150.90
199533.22%108,107.52151.40
199543.35%111,726.70151.90
199553.18%115,277.85152.20
199563.55%119,367.31152.50
199570.51%119,979.81152.50
199583.72%124,440.26152.90
199590.91%125,575.86153.20
1995102.36%128,537.42153.70
1995113.39%132,893.73153.60
1995120.16%133,109.79153.50
199615.90%140,969.12154.40
19962-0.20%140,686.20154.90
199630.20%140,963.41155.70
199642.35%144,282.85156.30
199651.28%146,127.64156.60
19966-3.48%141,047.42156.70
199673.08%145,385.69157.00
199682.02%148,327.90157.30
199694.12%154,438.26157.80
1996105.05%162,240.61158.30
1996111.20%164,184.62158.60
1996123.26%169,533.00158.60
199714.36%176,926.61159.10
19972-0.62%175,823.15159.60
19973-3.41%169,835.94160.00
199749.22%185,491.13160.20
199755.34%195,390.46160.10
199765.74%206,597.91160.30
199770.35%207,316.44160.50
199781.19%209,787.67160.80
199791.65%213,239.46161.20
199710-1.15%210,782.85161.60
1997112.63%216,336.17161.50
1997120.24%216,849.08161.30
199816.40%230,732.10161.60
199825.31%242,990.60161.90
199833.41%251,266.07162.20
19984-0.22%250,708.62162.50
199850.12%251,000.59162.80
199864.47%262,214.46163.00
19987-6.97%243,935.47163.20
19988-4.90%231,986.41163.40
199891.29%234,981.02163.60
19981010.97%260,768.74164.00
1998114.10%271,470.97164.00
1998125.05%285,173.97163.90
19991-0.07%284,983.73164.30
199922.92%293,315.26164.50
199934.25%305,781.22165.00
19994-0.10%305,479.01166.20
19995-0.61%303,610.19166.20
199964.52%317,340.62166.20
19997-3.77%305,362.96166.70
19998-0.60%303,536.84167.10
19999-1.27%299,674.42167.90
1999107.11%320,969.14168.20
1999112.81%329,984.29168.30
199912-0.12%329,591.84168.30
20001-2.48%321,424.29168.80
200023.94%334,091.48169.80
200031.42%338,851.16171.20
20004-2.84%329,231.88171.30
200053.16%339,647.06171.50
200060.85%342,535.22172.40
200070.94%345,754.07172.80
20008-1.08%342,021.13172.80
20009-5.21%324,187.36173.70
200010-0.77%321,682.81174.00
200011-3.32%311,002.70174.10
2000120.46%312,417.79174.00
20011-2.14%305,743.74175.10
20012-9.08%277,982.50175.80
200130.45%279,229.79176.20
200146.88%298,438.94176.90
20015-2.39%291,310.27177.70
20016-2.66%283,560.76178.00
20017-2.05%277,759.56177.50
20018-11.25%246,519.04177.50
200193.18%254,368.28178.30
2001105.05%267,221.88177.70
2001111.47%271,139.49177.40
200112-0.30%270,332.34176.70
20021-3.35%261,268.72177.10
200224.95%274,189.16177.80
20023-3.51%264,552.97178.80
20024-2.82%257,091.59179.80
20025-5.92%241,869.31179.80
20026-10.76%215,847.80179.90
200271.14%218,305.85180.10
20028-4.76%207,919.45180.70
20029-1.37%205,077.10181.00
2002106.63%218,664.64181.30
200211-1.04%216,401.33181.30
200212-0.22%215,919.80180.90
20031-6.41%202,068.90181.70
200321.31%204,711.75183.10
200335.29%215,532.53184.20
200345.31%226,982.07183.80
200355.70%239,929.55183.50
200360.60%241,359.29183.70
20037-0.17%240,957.85183.90
200383.16%248,574.97184.60
200392.03%253,615.64185.20
2003101.21%256,685.88185.00
2003113.06%264,550.25184.50
2003124.93%277,605.70184.30
200411.09%280,622.34185.20
20042-1.57%276,230.04186.20
200430.97%278,904.33187.40
20044-2.56%271,752.52188.00
200452.86%279,518.32189.10
20046-2.24%273,260.53189.70
20047-1.39%269,468.84189.40
200482.78%276,967.15189.50
200490.10%277,251.31189.90
2004104.77%290,486.99190.90
2004112.73%298,409.87191.00
200412-1.35%294,383.66190.30
200511.68%299,332.86190.70
20052-0.26%298,567.80191.80
20053-2.41%291,375.55193.30
200541.34%295,267.95194.60
200552.18%301,706.85194.40
200561.81%307,161.08194.50
200570.31%308,113.33195.40
200580.28%308,975.10196.40
20059-2.62%300,866.91198.80
2005103.96%312,785.88199.20
2005112.14%319,492.42197.60
2005121.47%324,178.64196.80
20061-0.02%324,124.70198.30
200621.49%328,941.64198.70
200630.80%331,567.68199.80
20064-0.79%328,959.45201.50
20065-2.71%320,058.49202.50
200660.72%322,363.04202.90
200672.29%329,750.83203.50
200682.53%338,097.39203.90
200693.62%350,322.70202.90
2006102.00%357,334.91201.80
2006112.15%365,011.41201.50
2006120.69%367,540.31201.80
200711.60%373,406.43202.42
20072-2.47%364,168.76203.50
200734.18%379,391.96205.35
200743.39%392,260.00206.69
200750.34%393,612.91207.95
200760.57%395,874.68208.35
20077-4.20%379,243.56208.30
200783.07%390,904.33207.92
200792.99%402,598.75208.49
200710-4.81%383,248.61208.94
2007111.24%387,994.07210.18
200712-6.64%362,249.90210.04
20081-1.56%356,584.43211.08
20082-2.63%347,218.26211.69
200834.24%361,953.52213.53
200842.56%371,228.95214.82
20085-4.25%355,464.41216.63
20086-6.08%333,857.61218.82
200872.11%340,903.79219.96
20088-4.85%324,378.36219.09
20089-20.19%258,874.74218.78
200810-8.61%236,597.66216.57
200811-0.35%235,766.69212.43
200812-1.10%233,183.73210.23
20091-6.70%217,554.58211.14
20092-5.69%205,181.30212.19
2009312.32%230,463.23212.71
200946.66%245,811.67213.24
200952.87%252,863.66213.86
200961.28%256,094.36215.69
200978.12%276,891.13215.35
200983.65%286,998.60215.83
200992.40%293,895.49215.97
2009102.09%300,050.62216.18
2009112.23%306,729.32216.33
2009121.36%310,891.54215.95
20101-2.90%301,880.43216.69
201025.94%319,821.29216.74
201034.09%332,895.36217.63
20104-5.88%313,313.14218.01
20105-3.54%302,210.68218.18
20106-0.16%301,729.95217.97
201070.86%304,335.72218.01
201083.37%314,595.35218.31
201094.58%328,995.75218.44
2010102.49%337,190.76218.71
2010113.71%349,713.13218.80
2010123.46%361,820.87219.18
201113.15%373,221.36220.22
20112-1.11%369,069.42221.31
201132.22%377,266.39223.47
201140.66%379,753.46224.91
20115-3.66%365,844.61225.96
201163.10%377,192.14225.72
20117-10.40%337,961.72225.92
20118-0.79%335,294.37226.55
201193.02%345,416.59226.89
2011101.77%351,520.53226.42
2011111.55%356,985.79226.23
2011124.78%374,058.85225.67
201214.16%389,629.45226.67
201222.88%400,865.73227.66
20123-0.04%400,712.56229.39
20124-3.09%388,326.73230.09
20125-1.15%383,851.61229.82
201262.92%395,064.25229.48
201273.39%408,447.84229.10
201283.02%420,787.73230.38
20129-0.22%419,874.05231.41
201210-2.84%407,960.15231.32
2012112.18%416,835.47230.22
2012124.27%434,629.18229.60
201312.33%444,769.17230.28
201322.72%456,877.81232.17
201331.45%463,519.86232.77
201344.57%484,722.51232.53
20135-1.12%479,304.40232.95
201363.25%494,903.25233.50
201370.25%496,153.02233.60
201381.19%502,069.49233.88
201392.12%512,701.06234.15
2013103.86%532,491.29233.55
2013111.52%540,594.00233.07
2013120.97%545,825.91233.05
20141-0.13%545,116.14233.92
201422.72%559,955.67234.78
201430.20%561,085.24236.29
201441.53%569,681.26237.07
201453.20%587,890.08237.90
201461.50%596,683.87238.34
20147-0.43%594,136.33238.25
201481.78%604,700.27237.85
20149-2.65%588,696.37238.03
2014105.71%622,285.34237.43
2014110.63%626,229.93236.15
201412-1.11%619,278.49234.81
201512.83%636,787.96233.71
201520.06%637,140.51234.72
201530.88%642,737.21236.12
201540.98%649,028.99236.60
20155-0.44%646,202.47237.81
20156-0.08%645,687.90238.64
20157-2.42%630,033.86238.65
20158-4.51%601,637.63238.32
201594.32%627,611.04237.95
2015102.93%646,015.55237.84
201511-1.10%638,890.19237.34
201512-6.42%597,875.86236.53
20161-0.55%594,588.08236.92
201626.36%632,420.10237.11
201632.83%650,325.56238.13
20164-0.30%648,346.20239.26
201651.07%655,260.75240.23
201663.30%676,867.57241.02
201671.20%684,984.95240.63
20168-0.44%681,980.12240.85
20169-0.51%678,529.43241.43
2016101.20%686,679.66241.73
2016113.95%713,775.79241.35
2016121.44%724,037.28241.43
201712.58%742,691.70242.84
201721.75%755,683.29243.60
20173-0.15%754,519.51243.80
201741.69%767,288.79244.52
201751.78%780,919.12244.73
201760.99%788,633.70244.96
201770.25%790,587.98244.79
201781.65%803,658.47245.52
201792.73%825,636.92246.82
2017101.59%838,760.99246.66
2017112.88%862,946.55246.67
2017124.86%904,902.13246.52
20181-2.89%878,780.44247.87
201820.06%879,347.94248.99
20183-1.66%864,715.84249.55
201841.96%881,678.29250.55
201852.11%900,307.88251.59
201861.58%914,539.43251.99
201872.45%936,953.01252.01
201881.68%952,691.45252.15
20189-3.85%916,022.49252.44
201810-2.08%897,004.87252.89
201811-5.56%847,108.87252.04
2018121.74%861,811.60251.23
201915.83%912,045.76251.71
201921.95%929,812.61252.78
201933.72%964,431.57254.20
20194-1.53%949,658.52255.55
201951.40%962,998.84256.09
201963.83%999,856.12256.14
20197-3.13%968,516.49256.57
201983.09%998,397.42256.56
201990.01%998,495.29256.76
2019104.43%1,042,765.50257.35
2019112.47%1,068,514.72257.21
2019123.35%1,104,271.47256.97
202010.12%1,105,619.53257.97
20202-18.92%896,461.64258.68
202034.32%935,176.36258.12
202045.89%990,233.61256.39
202056.51%1,054,680.71256.39
202063.48%1,091,346.00257.80
202075.89%1,155,664.53259.10
20208-0.63%1,148,418.48259.92
202091.73%1,168,240.20260.28
2020103.95%1,214,433.78260.39
2020114.26%1,266,169.63260.23
2020122.80%1,301,562.87260.47
202112.49%1,333,991.68261.58
202120.82%1,344,948.52263.01
202136.02%1,425,934.41264.88
202140.76%1,436,774.81267.05
202151.81%1,462,786.51269.20
202163.07%1,507,667.75271.70
202172.19%1,540,612.73273.00
20218-0.08%1,539,310.93273.57
202190.45%1,546,271.33274.31
2021104.74%1,619,637.94276.59
2021110.27%1,623,936.52277.95
202112-2.05%1,590,614.11278.80
20221-2.90%1,544,445.42281.15
20222-0.89%1,530,659.96283.72
202230.12%1,532,470.76287.50
20224-7.87%1,411,823.47289.11
20225-3.37%1,364,253.70292.30
20226-1.60%1,342,482.14296.31
Click to show 1158 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 1925. This would result in a final amount of $1,145,110.95, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $1,342,482.14).

YearMonthContribution ($)Amount ($)
192514.164.20
192524.168.15
192534.1612.22
192544.1616.96
192554.1621.58
192564.1626.55
192574.1631.24
192584.1636.35
192594.1642.00
1925104.1647.77
1925114.1652.97
1925124.1658.22
192614.1662.71
192624.1662.58
192634.1665.15
192644.1670.10
192654.1678.11
192664.1686.08
192674.1694.19
192684.16100.24
192694.16102.47
1926104.16108.46
1926114.16115.65
1926124.32119.67
19271-122.51
19272-124.92
19273-128.51
19274-133.48
19275-135.76
19276-139.32
19277-147.29
19278-156.23
19279-154.40
192710-158.51
192711-162.81
192712-164.06
19281-162.70
19282-172.05
19283-183.52
19284-189.82
19285-181.15
19286-183.13
19287-189.71
19288-203.70
19289-208.50
192810-223.27
192811-224.82
192812-242.11
19291-244.08
19292-249.08
19293-248.33
19294-252.79
19295-258.36
19296-282.13
19297-298.93
19298-311.62
19299-279.45
192910-206.26
192911-215.28
192912-219.21
19301-233.76
19302-243.39
19303-259.67
19304-245.00
19305-221.06
19306-217.17
19307-215.22
19308-215.96
19309-187.09
193010-174.37
193011-163.58
193012-169.39
19311-183.18
19312-187.54
19313-170.51
19314-154.89
19315-150.75
19316-156.56
19317-152.67
19318-130.73
19319-114.06
193110-116.41
193111-95.34
193112-94.53
19321-94.48
19322-95.56
19323-73.37
19324-65.07
19325-57.00
19326-60.53
19327-91.61
19328-101.11
19329-87.75
193210-87.45
193211-85.14
193212-89.03
19331-79.00
19332-79.27
19333-88.18
19334-114.03
19335-134.08
19336-145.43
19337-138.68
19338-138.01
19339-125.06
193310-128.57
193311-131.55
193312-139.56
19341-150.37
19342-143.16
19343-146.05
19344-131.70
19345-133.94
19346-128.10
19347-123.60
19348-121.12
19349-122.58
193410-126.52
193411-127.86
193412-128.38
19351-125.01
19352-117.60
19353-126.94
19354-137.43
19355-143.16
19356-151.18
19357-161.92
19358-165.86
19359-170.81
193510-187.40
193511-187.95
193512-198.89
19361-210.89
19362-215.98
19363-216.87
19364-205.99
19365-215.41
19366-228.84
19367-234.09
19368-237.47
19369-250.65
193610-258.43
193611-254.81
193612-263.62
19371-272.33
19372-272.96
19373-257.60
19374-247.08
19375-238.83
19376-254.10
19377-257.75
19378-222.28
19379-190.94
193710-175.16
193711-173.37
193712-178.98
19381-175.76
19382-165.18
19383-159.49
19384-161.97
19385-166.73
19386-200.88
19387-203.01
19388-194.71
19389-217.33
193810-218.35
193811-212.78
193812-210.30
19391-209.34
19392-209.90
19393-184.21
19394-191.75
19395-195.92
19396-201.47
19397-199.32
19398-221.36
19399-224.42
193910-221.26
193911-216.89
193912-216.57
19401-216.08
19402-215.76
19403-218.83
19404-189.63
19405-174.28
19406-181.03
19407-185.82
19408-194.67
19409-197.52
194010-203.15
194011-195.86
194012-197.27
19411-185.98
19412-188.16
19413-183.37
19414-180.46
19415-187.87
19416-198.60
19417-198.75
19418-200.47
19419-193.58
194110-185.68
194111-174.76
194112-179.33
19421-174.88
19422-166.56
19423-160.80
19424-163.81
19425-173.23
19426-180.82
19427-180.90
19428-183.91
19429-198.56
194210-202.84
194211-204.98
194212-218.31
19431-232.36
19432-241.69
19433-250.84
19434-261.78
19435-267.49
19436-274.10
19437-261.66
19438-268.34
19439-267.00
194310-255.77
194311-260.30
194312-269.84
19441-269.18
19442-277.90
19443-274.27
19444-280.31
19445-294.72
19446-303.62
19447-300.42
19448-296.73
19449-305.29
194410-304.42
194411-312.34
194412-322.91
19451-334.96
19452-336.02
19453-345.77
19454-360.16
19455-368.03
19456-361.79
19457-364.35
19458-390.51
19459-408.14
194510-422.85
194511-431.41
194512-449.96
19461-452.60
19462-440.48
19463-470.29
19464-472.73
19465-471.13
19466-459.13
19467-451.67
19468-386.53
19469-379.29
194610-379.24
194611-392.12
194612-395.72
19471-412.62
19472-397.47
19473-384.36
19474-379.12
19475-393.99
19476-420.36
19477-413.80
19478-404.84
19479-417.09
194710-414.05
194711-409.40
194712-405.86
19481-387.80
19482-395.24
19483-427.61
19484-450.40
19485-471.06
19486-461.84
19487-450.35
19488-447.29
19489-461.56
194810-438.01
194811-437.32
194812-444.45
19491-429.66
19492-436.06
19493-437.87
19494-437.07
19495-415.60
19496-441.63
19497-460.04
19498-468.65
19499-483.38
194910-492.79
194911-508.76
194912-522.14
19501-535.32
19502-542.68
19503-561.05
19504-583.02
19505-595.64
19506-555.59
19507-592.47
19508-616.81
19509-645.93
195010-648.36
195011-649.62
195012-701.67
19511-731.91
19512-723.77
19513-737.71
19514-742.34
19515-733.84
19516-751.21
19517-788.51
19518-813.24
19519-813.47
195110-795.14
195111-823.87
195112-855.45
19521-844.06
19522-850.39
19523-852.11
19524-856.03
19525-883.81
19526-913.56
19527-921.61
19528-911.39
19529-896.71
195210-929.59
195211-971.51
195212-981.12
19531-973.53
19532-982.85
19533-938.88
19534-948.30
19535-918.83
19536-936.41
19537-944.83
19538-906.03
19539-937.89
195310-963.29
195311-980.98
195312-1,010.65
19541-1,037.69
19542-1,064.49
19543-1,111.87
19544-1,161.04
19545-1,175.24
19546-1,227.62
19547-1,257.02
19548-1,291.46
19549-1,326.46
195410-1,383.53
195411-1,452.06
195412-1,483.55
19551-1,538.51
19552-1,531.80
19553-1,590.13
19554-1,588.88
19555-1,686.52
19556-1,815.44
19557-1,810.00
19558-1,897.18
19559-1,807.54
195510-1,935.27
195511-1,959.21
195512-1,912.43
19561-1,930.58
19562-2,069.70
19563-2,100.39
19564-2,040.77
19565-2,035.43
19566-2,152.44
19567-2,146.31
19568-2,080.01
19569-2,060.18
195610-2,045.50
195611-2,082.50
195612-2,043.71
19571-1,962.05
19572-1,993.85
19573-2,046.57
19574-2,131.71
19575-2,173.36
19576-2,223.83
19577-2,108.08
19578-2,029.25
19579-1,909.59
195710-1,875.21
195711-1,881.17
195712-1,924.98
19581-1,938.49
19582-1,985.38
19583-2,003.18
19584-2,074.45
19585-2,131.19
19586-2,196.64
19587-2,285.69
19588-2,352.98
19589-2,455.55
195810-2,537.22
195811-2,592.09
195812-2,702.37
19591-2,668.19
19592-2,743.06
19593-2,796.18
19594-2,845.54
19595-2,828.29
19596-2,947.86
19597-2,938.47
19598-2,829.65
19599-2,834.65
195910-2,853.62
195911-2,952.45
195912-2,908.58
19601-2,803.60
19602-2,773.37
19603-2,817.31
19604-2,799.72
19605-2,911.37
19606-2,847.44
19607-2,889.89
19608-2,811.26
19609-2,764.20
196010-2,862.08
196011-2,939.08
196012-3,098.59
19611-3,234.12
19612-3,343.99
19613-3,441.60
19614-3,485.08
19615-3,447.43
19616-3,446.47
19617-3,578.78
19618-3,559.39
19619-3,607.20
196110-3,779.33
196111-3,823.29
196112-3,689.96
19621-3,760.42
19622-3,773.25
19623-3,662.13
19624-3,399.00
19625-3,011.08
19626-3,092.90
19627-3,186.40
19628-3,167.50
19629-3,077.02
196210-3,298.59
196211-3,451.11
196212-3,594.22
19631-3,651.57
19632-3,647.61
19633-3,829.20
19634-3,916.11
19635-3,924.59
19636-3,876.63
19637-3,994.14
19638-4,109.72
19639-4,130.26
196310-4,117.60
196311-4,216.15
196312-4,356.55
19641-4,421.03
19642-4,512.59
19643-4,588.99
19644-4,644.99
19645-4,628.70
19646-4,812.05
19647-4,753.07
19648-4,846.49
19649-4,941.97
196410-4,988.28
196411-4,913.93
196412-5,052.55
19651-5,101.81
19652-5,118.93
19653-5,198.67
19654-5,288.74
19655-5,050.36
19656-5,055.55
19657-5,162.66
19658-5,348.31
19659-5,481.85
196510-5,540.83
196511-5,529.11
196512-5,638.61
19661-5,614.34
19662-5,397.50
19663-5,576.75
19664-5,297.49
19665-5,267.84
19666-5,268.81
19667-4,964.83
19668-4,804.72
19669-4,777.61
196610-5,031.59
196611-5,067.60
196612-5,276.91
19671-5,473.74
19672-5,617.90
19673-5,729.84
19674-5,847.74
19675-5,789.74
19676-5,905.10
19677-6,014.44
19678-6,113.91
19679-6,119.87
196710-5,943.51
196711-6,128.45
196712-6,127.38
19681-5,866.54
19682-5,775.07
19683-6,217.54
19684-6,376.56
19685-6,564.08
19686-6,567.29
19687-6,440.28
19688-6,666.19
19689-6,847.32
196810-6,969.60
196811-7,059.18
196812-6,777.86
19691-6,761.69
19692-6,632.29
19693-6,783.12
19694-7,021.45
19695-6,672.39
19696-6,391.79
19697-6,373.66
19698-6,413.72
19699-6,500.08
196910-6,564.91
196911-6,234.86
196912-6,198.14
19701-6,000.04
19702-6,120.78
19703-5,952.60
19704-5,285.96
19705-5,271.70
19706-5,299.25
19707-5,471.78
19708-5,817.67
19709-5,962.50
197010-5,974.82
197011-6,402.52
197012-6,665.71
19711-6,942.41
19712-7,139.01
19713-7,401.28
19714-7,319.29
19715-7,202.48
19716-7,169.14
19717-7,060.37
19718-7,235.92
19719-7,101.07
197110-6,790.64
197111-7,277.10
197112-7,598.93
19721-7,757.52
19722-7,960.73
19723-8,060.95
19724-7,998.41
19725-8,039.69
19726-7,999.18
19727-8,301.84
19728-8,201.35
19729-8,235.59
197210-8,668.30
197211-8,868.67
197212-8,956.41
19731-8,658.60
19732-8,542.11
19733-8,402.59
19734-8,186.67
19735-8,023.77
19736-8,120.88
19737-7,988.07
19738-8,147.45
19739-8,492.52
197310-7,910.54
197311-7,372.21
197312-7,497.57
19741-7,312.16
19742-7,646.67
19743-7,278.35
19744-7,081.43
19745-7,113.80
19746-6,306.61
19747-6,069.18
19748-5,461.44
19749-5,591.25
197410-5,800.56
197411-5,447.20
197412-5,917.44
19751-6,556.97
19752-6,883.09
19753-6,985.45
19754-7,454.36
19755-7,670.13
19756-7,703.27
19757-7,164.33
19758-7,103.24
19759-7,456.36
197510-7,608.59
197511-7,518.84
197512-8,236.53
19761-8,580.67
19762-8,649.52
19763-8,744.27
19764-8,710.76
19765-8,789.20
19766-9,023.47
19767-8,972.88
19768-9,191.63
19769-8,905.93
197610-8,873.28
197611-9,209.27
197612-9,159.79
19771-8,942.83
19772-8,937.99
19773-8,831.30
19774-8,836.99
19775-8,916.50
19776-9,030.85
19777-8,843.14
19778-8,739.20
19779-8,547.12
197710-8,630.98
197711-8,624.07
197712-8,331.68
19781-8,250.70
19782-8,272.62
19783-8,672.18
19784-9,149.53
19785-9,211.16
19786-9,205.42
19787-9,880.00
19788-9,919.49
19789-9,644.38
197810-9,119.95
197811-9,295.31
197812-9,684.35
19791-9,581.99
19792-9,806.32
19793-10,044.70
19794-9,854.55
19795-10,092.80
19796-10,236.20
19797-10,749.48
19798-10,915.07
19799-10,549.14
197910-10,515.13
197911-10,978.21
197912-11,341.86
19801-11,840.43
19802-10,801.10
19803-10,675.59
19804-11,213.22
19805-11,982.75
19806-12,578.23
19807-13,019.06
19808-13,388.25
19809-13,833.38
198010-14,471.75
198011-14,291.61
198012-14,293.03
19811-13,854.21
19812-14,428.23
19813-14,614.91
19814-14,378.54
19815-14,501.85
19816-14,209.46
19817-14,323.50
19818-13,134.26
19819-13,361.12
198110-13,767.80
198111-13,930.17
198112-13,260.95
19821-13,007.15
19822-12,650.17
19823-13,342.04
19824-13,418.04
19825-12,710.83
19826-12,741.83
19827-12,842.99
19828-14,396.53
19829-15,675.14
198210-16,380.51
198211-16,602.55
198212-17,254.32
19831-17,621.84
19832-18,303.04
19833-19,071.29
19834-19,915.00
19835-20,264.21
19836-20,407.71
19837-19,916.46
19838-20,576.46
19839-20,709.78
198310-20,473.39
198311-20,447.16
198312-20,769.39
19841-19,707.62
19842-19,794.80
19843-19,895.20
19844-19,844.95
19845-19,478.16
19846-19,301.21
19847-21,078.18
19848-21,374.75
19849-21,286.60
198410-21,560.32
198411-21,407.77
198412-22,413.42
19851-23,710.56
19852-23,597.15
19853-23,838.95
19854-24,491.10
19855-25,106.06
19856-25,670.25
19857-25,196.56
19858-24,721.60
19859-25,091.33
198510-26,702.32
198511-28,116.08
198512-28,327.44
19861-29,941.32
19862-31,792.52
19863-32,664.09
19864-32,824.74
19865-33,853.22
19866-33,242.54
19867-34,000.75
19868-33,165.61
19869-33,135.81
198610-34,306.48
198611-34,892.76
198612-37,221.28
19871-39,626.47
19872-41,360.69
19873-41,006.47
19874-41,077.34
19875-42,925.18
19876-44,265.35
19877-47,122.24
19878-45,694.24
19879-40,277.69
198710-35,322.16
198711-34,850.72
198712-36,330.67
19881-37,539.96
19882-38,753.27
19883-38,409.91
19884-37,569.40
19885-39,822.89
19886-39,700.66
19887-39,018.41
19888-39,770.36
19889-41,282.28
198810-40,448.28
198811-41,389.08
198812-42,842.94
19891-44,256.69
19892-44,185.15
19893-45,760.26
19894-47,643.43
19895-49,259.80
19896-50,639.16
19897-53,014.51
19898-53,256.01
19899-53,408.46
198910-52,439.87
198911-53,875.00
198912-52,683.70
19901-51,352.29
19902-52,742.48
19903-52,845.85
19904-54,880.90
19905-56,620.60
19906-56,716.70
19907-52,258.07
19908-49,989.52
19909-48,831.88
199010-50,288.93
199011-52,595.48
199012-52,235.11
19911-58,297.93
19912-60,072.88
19913-61,429.82
19914-61,319.94
19915-61,532.72
19916-62,012.98
19917-63,674.26
19918-63,481.27
19919-63,596.58
199110-63,606.62
199111-64,201.43
199112-68,925.39
19921-68,511.26
19922-67,817.66
19923-67,996.91
19924-69,403.32
19925-68,480.87
19926-69,790.31
19927-70,447.54
19928-70,713.96
19929-69,878.09
199210-71,804.56
199211-74,153.43
199212-74,259.39
19931-75,539.80
19932-77,164.02
19933-76,128.68
19934-76,680.40
19935-77,343.83
19936-77,391.01
19937-78,755.00
19938-79,822.11
19939-80,813.43
199310-80,819.52
199311-81,536.54
199312-82,951.91
19941-82,889.12
19942-81,708.93
19943-78,974.64
19944-79,810.38
19945-80,694.75
19946-80,276.05
19947-82,750.22
19948-83,426.67
19949-83,056.25
199410-82,749.04
199411-81,900.28
199412-83,907.80
19951-87,112.32
19952-89,340.80
19953-92,213.60
19954-95,300.69
19955-98,329.75
19956-101,817.97
19957-102,340.43
19958-106,145.10
19959-107,113.75
199510-109,639.90
199511-113,355.75
199512-113,540.04
19961-120,243.89
19962-120,002.57
19963-120,239.02
19964-123,070.44
19965-124,644.01
19966-120,310.68
19967-124,011.14
19968-126,520.79
19969-131,732.81
199610-138,388.06
199611-140,046.26
199612-144,608.33
19971-150,914.93
19972-149,973.70
19973-144,866.72
19974-158,220.29
19975-166,664.23
19976-176,223.97
19977-176,836.86
19978-178,944.77
19979-181,889.08
199710-179,793.64
199711-184,530.51
199712-184,968.01
19981-196,809.96
19982-207,266.22
19983-214,325.03
19984-213,849.54
19985-214,098.58
19986-223,663.79
19987-208,072.17
19988-197,879.86
19989-200,434.21
199810-222,430.63
199811-231,559.41
199812-243,247.81
19991-243,085.54
19992-250,192.16
19993-260,825.39
19994-260,567.61
19995-258,973.54
19996-270,685.33
19997-260,468.62
19998-258,910.97
19999-255,616.41
199910-273,780.38
199911-281,470.13
199912-281,135.37
20001-274,168.62
20002-284,973.48
20003-289,033.40
20004-280,828.34
20005-289,712.28
20006-292,175.83
20007-294,921.44
20008-291,737.32
20009-276,525.46
200010-274,389.13
200011-265,279.21
200012-266,486.25
20011-260,793.41
20012-237,113.63
20013-238,177.54
20014-254,562.56
20015-248,481.95
20016-241,871.77
20017-236,923.46
20018-210,275.91
20019-216,971.16
200110-227,935.03
200111-231,276.67
200112-230,588.18
20021-222,857.09
20022-233,877.98
20023-225,658.50
20024-219,294.09
20025-206,309.78
20026-184,113.94
20027-186,210.61
20028-177,351.22
20029-174,926.75
200210-186,516.65
200211-184,586.09
200212-184,175.36
20031-172,360.81
20032-174,615.11
20033-183,845.02
20034-193,611.26
20035-204,655.20
20036-205,874.74
20037-205,532.33
20038-212,029.57
20039-216,329.17
200310-218,948.02
200311-225,656.17
200312-236,792.22
20041-239,365.35
20042-235,618.81
20043-237,899.93
20044-231,799.57
20045-238,423.65
20046-233,085.87
20047-229,851.64
20048-236,247.55
20049-236,489.93
200410-247,779.71
200411-254,537.77
200412-251,103.49
20051-255,325.06
20052-254,672.48
20053-248,537.63
20054-251,857.77
20055-257,350.03
20056-262,002.38
20057-262,814.63
20058-263,549.70
20059-256,633.58
200510-266,800.22
200511-272,520.77
200512-276,518.02
20061-276,472.01
20062-280,580.77
20063-282,820.73
20064-280,595.96
20065-273,003.62
20066-274,969.35
20067-281,270.99
20068-288,390.45
20069-298,818.39
200610-304,799.67
200611-311,347.58
200612-313,504.68
20071-318,508.36
20072-310,628.81
20073-323,613.90
20074-334,590.09
20075-335,744.09
20076-337,673.34
20077-323,487.32
20078-333,433.73
20079-343,408.84
200710-326,903.55
200711-330,951.34
200712-308,992.06
20081-304,159.53
20082-296,170.37
20083-308,739.25
20084-316,651.02
20085-303,204.17
20086-284,773.99
20087-290,784.25
20088-276,688.38
20089-220,815.07
200810-201,813.17
200811-201,104.37
200812-198,901.15
20091-185,569.79
20092-175,015.63
20093-196,580.62
20094-209,672.53
20095-215,687.75
20096-218,443.47
20097-236,182.70
20098-244,804.18
20099-250,687.09
200910-255,937.30
200911-261,634.10
200912-265,184.39
20101-257,498.09
20102-272,801.29
20103-283,953.22
20104-267,249.96
20105-257,779.79
20106-257,369.73
20107-259,592.41
20108-268,343.67
20109-280,626.93
201010-287,617.10
201011-298,298.44
201012-308,626.11
20111-318,350.50
20112-314,808.98
20113-321,800.83
20114-323,922.25
20115-312,058.28
20116-321,737.50
20117-288,274.72
20118-285,999.52
20119-294,633.58
201110-299,840.12
201111-304,501.88
201112-319,064.86
20121-332,346.28
20122-341,930.61
20123-341,799.96
20124-331,235.08
20125-327,417.89
20126-336,982.06
20127-348,398.00
20128-358,923.68
20129-358,144.33
201210-347,982.01
201211-355,552.48
201212-370,730.17
20131-379,379.38
20132-389,707.81
20133-395,373.35
20134-413,458.80
20135-408,837.26
20136-422,142.77
20137-423,208.80
20138-428,255.43
20139-437,323.95
201310-454,204.63
201311-461,116.09
201312-465,578.80
20141-464,973.38
20142-477,631.21
20143-478,594.71
20144-485,926.95
20145-501,458.72
20146-508,959.64
20147-506,786.64
20148-515,797.48
20149-502,146.46
201410-530,797.19
201411-534,161.85
201412-528,232.41
20151-543,167.65
20152-543,468.36
20153-548,242.24
20154-553,609.01
20155-551,198.04
20156-550,759.12
20157-537,406.53
20158-513,185.10
20159-535,339.92
201510-551,038.60
201511-544,960.81
201512-509,976.39
20161-507,171.98
20162-539,441.95
20163-554,714.96
20164-553,026.60
20165-558,924.57
20166-577,354.77
20167-584,278.73
20168-581,715.67
20169-578,772.30
201610-585,724.29
201611-608,836.75
201612-617,589.60
20171-633,501.46
20172-644,583.03
20173-643,590.35
20174-654,482.30
20175-666,108.70
20176-672,689.08
20177-674,356.04
20178-685,504.92
20179-704,252.11
201710-715,446.68
201711-736,076.49
201712-771,863.78
20181-749,582.49
20182-750,066.56
20183-737,585.66
20184-752,054.29
20185-767,944.97
20186-780,084.20
20187-799,202.55
20188-812,627.13
20189-781,349.23
201810-765,127.57
201811-722,567.26
201812-735,108.40
20191-777,957.15
20192-793,111.92
20193-822,641.22
20194-810,040.10
20195-821,419.13
20196-852,857.66
20197-826,125.57
20198-851,613.43
20199-851,696.91
201910-889,458.53
201911-911,422.10
201912-941,921.91
20201-943,071.78
20202-764,664.21
20203-797,687.10
20204-844,649.86
20205-899,621.97
20206-930,896.74
20207-985,759.18
20208-979,578.45
20209-996,485.98
202010-1,035,888.20
202011-1,080,017.87
202012-1,110,207.61
20211-1,137,868.75
20212-1,147,214.72
20213-1,216,294.10
20214-1,225,540.75
20215-1,247,728.22
20216-1,286,011.03
20217-1,314,112.46
20218-1,313,002.05
20219-1,318,939.13
202110-1,381,519.41
202111-1,385,186.02
202112-1,356,762.65
20221-1,317,381.67
20222-1,305,622.93
20223-1,307,167.51
20224-1,204,257.74
20225-1,163,681.66
20226-1,145,110.95
Click to show 1158 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 1925 to 2022
Start Value
Average monthly close
$10.58
End Value
Average monthly close
$3,831.39
Change in price+36,113.52%
+6.26% / yr
Change incl. dividends+1,342,382.14%
+10.24% / yr
Change incl. dividends, inflation-adjusted+79,223.90%
+7.09% / yr
Final amount, nominal
($100 base)
$1,342,482.14
Final amount, inflation-adjusted
($100 base)
$79,323.90