S&P 500: $1000 in 1926 → $10,543,529.59 in 2022

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Stock market returns since 1926

If you invested $1000 in the S&P 500 at the beginning of 1926, you would have about $10,543,529.59 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 1,054,252.96%, or 10.04% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 62,521.80% cumulatively, or 6.88% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $9,230,960.11.

The graph below shows the performance of $1000 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 $1000 is $10,542,529.59, or 1,054,252.96%. This means by 2022 you would have $10,543,529.59 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 1926 was 17.700 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 96 years.

Adjusted for inflation, the $10,543,529.59 nominal end value of the original $1000 investment would have a real return of roughly $625,217.98 in 1926 dollars. This means the inflation-adjusted return is 62,521.80% as opposed to the original 1,054,252.96%.

For more information on inflation, see our U.S. inflation calculator for 1926.

Full monthly data

The table below shows the full dataset pertaining to a $1000 investment, including gains and losses over the 1162-month period between 1926 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
192610.56%1,005.5817.90
19262-6.38%941.3917.90
19263-2.35%919.2217.80
192641.15%929.8317.90
192655.22%978.3517.80
192664.66%1,023.8917.70
192674.39%1,068.8717.50
192681.94%1,089.6417.40
19269-1.83%1,069.6517.50
1926101.74%1,088.2417.60
1926112.71%1,117.6817.70
192612-0.24%1,114.9917.70
192712.37%1,141.4617.50
192721.97%1,163.9017.40
192732.88%1,197.4017.30
192743.87%1,243.7217.30
192751.70%1,264.9017.40
192762.62%1,298.1017.60
192775.73%1,372.4217.30
192786.06%1,455.6317.20
19279-1.17%1,438.6617.30
1927102.66%1,476.8717.40
1927112.72%1,517.0117.30
1927120.77%1,528.6617.30
19281-0.83%1,516.0017.30
192825.75%1,603.1117.10
192836.66%1,709.9117.10
192843.44%1,768.6517.10
19285-4.57%1,687.9017.20
192861.09%1,706.3217.10
192873.59%1,767.5917.10
192887.37%1,897.9417.10
192892.36%1,942.6917.30
1928107.08%2,080.2717.20
1928110.70%2,094.7317.20
1928127.69%2,255.8717.10
192910.81%2,274.1717.10
192922.05%2,320.8117.10
19293-0.30%2,313.8117.00
192941.80%2,355.3816.90
192952.20%2,407.2417.00
192969.20%2,628.7117.10
192975.96%2,785.3217.30
192984.24%2,903.5317.30
19299-10.32%2,603.7517.30
192910-26.19%1,921.8017.30
1929114.37%2,005.8517.30
1929121.83%2,042.4817.20
193016.64%2,178.0417.10
193024.12%2,267.8217.00
193036.69%2,419.4916.90
19304-5.65%2,282.7517.00
19305-9.77%2,059.7316.90
19306-1.76%2,023.4816.80
19307-0.90%2,005.3516.60
193080.34%2,012.2416.50
19309-13.37%1,743.1816.60
193010-6.80%1,624.6516.50
193011-6.19%1,524.1216.40
1930123.56%1,578.3316.10
193118.14%1,706.7915.90
193122.38%1,747.4215.70
19313-9.08%1,588.7615.60
19314-9.16%1,443.2315.50
19315-2.68%1,404.5615.30
193163.86%1,458.7415.10
19317-2.49%1,422.4915.10
19318-14.37%1,218.1015.10
19319-12.75%1,062.7915.00
1931102.05%1,084.6214.90
193111-18.10%888.3114.70
193112-0.85%880.7714.60
19321-0.05%880.3514.30
193221.14%890.4014.10
19323-23.22%683.6114.00
19324-11.31%606.2613.90
19325-12.39%531.1413.70
193266.18%563.9813.60
1932751.35%853.6013.60
1932810.37%942.0913.50
19329-13.22%817.5813.40
193210-0.34%814.8413.30
193211-2.64%793.3313.20
1932124.57%829.5813.10
19331-11.27%736.1212.90
193320.33%738.5712.70
1933311.24%821.6112.60
1933429.32%1,062.4912.60
1933517.58%1,249.3012.60
193368.46%1,355.0112.70
19337-4.64%1,292.1213.10
19338-0.48%1,285.8613.20
19339-9.38%1,165.2913.20
1933102.80%1,197.9313.20
1933112.32%1,225.7413.20
1933126.08%1,300.3313.20
193417.75%1,401.0913.20
19342-4.80%1,333.8613.30
193432.02%1,360.7913.30
19344-9.83%1,227.0713.30
193451.70%1,247.9713.30
19346-4.36%1,193.6113.40
19347-3.51%1,151.6613.40
19348-2.01%1,128.5313.40
193491.21%1,142.1613.60
1934103.21%1,178.8413.50
1934111.06%1,191.3213.50
1934120.40%1,196.1413.40
19351-2.62%1,164.8213.60
19352-5.93%1,095.7513.70
193537.94%1,182.7213.70
193548.27%1,280.4813.80
193554.17%1,333.9213.80
193565.60%1,408.6113.70
193577.10%1,508.6913.70
193582.43%1,545.4113.70
193592.99%1,591.5513.70
1935109.71%1,746.1013.70
1935110.29%1,751.2313.80
1935125.82%1,853.1913.80
193616.03%1,964.9713.80
193622.41%2,012.3513.80
193630.41%2,020.7013.70
19364-5.02%1,919.2713.70
193654.57%2,007.0513.70
193666.23%2,132.1813.80
193672.30%2,181.1613.90
193681.44%2,212.6614.00
193695.55%2,335.4714.00
1936103.10%2,407.9114.00
193611-1.40%2,374.2014.00
1936123.46%2,456.3114.00
193713.30%2,537.4214.10
193720.23%2,543.2514.10
19373-5.62%2,400.2114.20
19374-4.09%2,302.1414.30
19375-3.34%2,225.2814.40
193766.39%2,367.5614.40
193771.44%2,401.5814.50
19378-13.76%2,071.0514.50
19379-14.10%1,779.0814.60
193710-8.27%1,632.0314.60
193711-1.02%1,615.4014.50
1937123.24%1,667.6814.40
19381-1.80%1,637.6214.20
19382-6.02%1,539.0614.10
19383-3.44%1,486.0614.10
193841.56%1,509.1914.20
193852.93%1,553.4614.10
1938620.49%1,871.7114.10
193871.06%1,891.5014.10
19388-4.08%1,814.2514.10
1938911.62%2,025.0114.10
1938100.47%2,034.4414.00
193811-2.55%1,982.5614.00
193812-1.16%1,959.5114.00
19391-0.46%1,950.5414.00
193920.27%1,955.7413.90
19393-12.24%1,716.3413.90
193944.10%1,786.6413.80
193952.17%1,825.4413.80
193962.84%1,877.2213.80
19397-1.07%1,857.1813.80
1939811.06%2,062.5013.80
193991.38%2,091.0314.10
193910-1.41%2,061.5914.00
193911-1.97%2,020.9114.00
193912-0.15%2,017.9114.00
19401-0.23%2,013.3113.90
19402-0.15%2,010.3814.00
194031.42%2,038.9214.00
19404-13.34%1,766.9114.00
19405-8.09%1,623.8914.00
194063.87%1,686.7214.10
194072.65%1,731.4214.00
194084.76%1,813.7914.00
194091.47%1,840.3814.00
1940102.85%1,892.8414.00
194011-3.59%1,824.8914.00
1940120.72%1,838.0314.10
19411-5.72%1,732.8214.10
194121.18%1,753.2114.10
19413-2.55%1,708.5814.20
19414-1.59%1,681.4514.30
194154.11%1,750.4914.40
194165.71%1,850.4814.70
194170.08%1,851.8914.70
194180.86%1,867.8614.90
19419-3.43%1,803.7115.10
194110-4.08%1,730.0615.30
194111-5.88%1,628.3015.40
1941122.62%1,670.9015.50
19421-2.48%1,629.4815.70
19422-4.76%1,551.8815.80
19423-3.45%1,498.2816.00
194241.87%1,526.3116.10
194255.75%1,614.0516.30
194264.38%1,684.7716.30
194270.05%1,685.5316.40
194281.66%1,713.5416.50
194297.97%1,850.0916.50
1942102.15%1,889.9516.70
1942111.06%1,909.9116.80
1942126.50%2,034.1316.90
194316.43%2,165.0016.90
194324.01%2,251.9216.90
194333.79%2,337.1917.20
194344.36%2,439.1717.40
194352.18%2,492.3317.50
194362.47%2,553.9517.50
19437-4.54%2,438.0317.40
194382.55%2,500.2817.30
19439-0.50%2,487.7617.40
194310-4.21%2,383.1217.40
1943111.77%2,425.3017.40
1943123.67%2,514.2117.40
19441-0.24%2,508.0817.40
194423.24%2,589.3517.40
19443-1.31%2,555.4717.40
194442.20%2,611.7717.50
194455.14%2,746.0717.50
194463.02%2,828.9717.60
19447-1.06%2,799.1117.70
19448-1.23%2,764.8217.70
194492.88%2,844.5417.70
194410-0.28%2,836.4717.70
1944112.60%2,910.2217.70
1944123.38%3,008.7017.80
194513.73%3,121.0317.80
194520.31%3,130.8517.80
194532.90%3,221.6917.80
194544.16%3,355.7417.80
194552.19%3,429.1417.90
19456-1.70%3,371.0118.10
194570.71%3,394.8318.10
194587.18%3,638.5618.10
194594.51%3,802.8018.10
1945103.61%3,939.9318.10
1945112.02%4,019.7018.10
1945124.30%4,192.5018.20
194610.59%4,217.0618.20
19462-2.68%4,104.1418.10
194636.77%4,381.9618.30
194640.52%4,404.6618.40
19465-0.34%4,389.7418.50
19466-2.55%4,277.9118.70
19467-1.62%4,208.4619.80
19468-14.42%3,601.4920.20
19469-1.87%3,534.0720.40
194610-0.01%3,533.6020.80
1946113.39%3,653.5421.30
1946120.92%3,687.1521.50
194714.27%3,844.5821.50
19472-3.67%3,703.3821.50
19473-3.30%3,581.2421.90
19474-1.36%3,532.4621.90
194753.92%3,670.9521.90
194766.69%3,916.6722.00
19477-1.56%3,855.6222.20
19478-2.17%3,772.0722.50
194793.03%3,886.2423.00
194710-0.73%3,857.8723.00
194711-1.12%3,814.5723.10
194712-0.86%3,781.5823.40
19481-4.45%3,613.3523.70
194821.92%3,682.6923.50
194838.19%3,984.2123.40
194845.33%4,196.5723.80
194854.59%4,389.0823.90
19486-1.96%4,303.1924.10
19487-2.49%4,196.1024.40
19488-0.68%4,167.6624.50
194893.19%4,300.5424.50
194810-5.10%4,081.1724.40
194811-0.16%4,074.7224.20
1948121.63%4,141.1224.10
19491-3.33%4,003.3224.00
194921.49%4,063.0223.80
194930.41%4,079.8323.80
19494-0.18%4,072.3723.90
19495-4.91%3,872.3023.80
194966.26%4,114.8423.90
194974.17%4,286.4523.70
194981.87%4,366.6623.80
194993.14%4,503.8523.90
1949101.95%4,591.5623.70
1949113.24%4,740.4023.80
1949122.63%4,865.0723.60
195012.52%4,987.8023.50
195021.38%5,056.3923.50
195033.39%5,227.6123.60
195043.91%5,432.2423.60
195052.16%5,549.8323.70
19506-6.72%5,176.6823.80
195076.64%5,520.2924.10
195084.11%5,747.1024.30
195094.72%6,018.4424.40
1950100.38%6,041.0724.60
1950110.19%6,052.8324.70
1950128.01%6,537.8325.00
195114.31%6,819.5325.40
19512-1.11%6,743.6725.70
195131.93%6,873.5725.80
195140.63%6,916.7825.80
19515-1.15%6,837.5825.90
195162.37%6,999.3925.90
195174.97%7,346.9325.90
195183.14%7,577.3225.90
195190.03%7,579.4726.10
195110-2.25%7,408.6726.20
1951113.61%7,676.3626.40
1951123.83%7,970.6626.50
19521-1.33%7,864.4926.50
195220.75%7,923.4526.30
195230.20%7,939.5326.30
195240.46%7,976.0426.40
195253.24%8,234.8526.40
195263.37%8,512.1126.50
195270.88%8,587.0626.70
19528-1.11%8,491.8526.70
19529-1.61%8,355.0626.70
1952103.67%8,661.4826.70
1952114.51%9,052.0326.70
1952120.99%9,141.5426.70
19531-0.77%9,070.8326.60
195320.96%9,157.6526.50
19533-4.47%8,748.0426.60
195341.00%8,835.7626.60
19535-3.11%8,561.1726.70
195361.91%8,725.0126.80
195370.90%8,803.4326.80
19538-4.11%8,441.8926.90
195393.52%8,738.7626.90
1953102.71%8,975.4327.00
1953111.84%9,140.2926.90
1953123.02%9,416.6826.90
195412.68%9,668.7026.90
195422.58%9,918.3826.90
195434.45%10,359.8026.90
195444.42%10,817.9726.80
195451.22%10,950.2826.90
195464.46%11,438.3626.90
195472.39%11,712.2326.90
195482.74%12,033.1226.90
195492.71%12,359.3026.80
1954104.30%12,891.0226.80
1954114.95%13,529.5526.80
1954122.17%13,822.9426.70
195513.70%14,335.0526.70
19552-0.44%14,272.4926.70
195533.81%14,816.0226.70
19554-0.08%14,804.3526.70
195556.15%15,714.0926.70
195567.64%16,915.3026.70
19557-0.30%16,864.6726.80
195584.82%17,676.9426.80
19559-4.72%16,841.7326.90
1955107.07%18,031.8026.90
1955111.24%18,254.8826.90
195512-2.39%17,819.0026.80
195610.95%17,988.1726.80
195627.21%19,284.4226.80
195631.48%19,570.3626.80
19564-2.84%19,014.8626.90
19565-0.26%18,965.0427.00
195665.75%20,055.3127.20
19567-0.28%19,998.2127.40
19568-3.09%19,380.5027.30
19569-0.95%19,195.6827.40
195610-0.71%19,058.9227.50
1956111.81%19,403.6927.50
195612-1.86%19,042.2727.60
19571-4.00%18,281.3927.60
195721.62%18,577.6427.70
195732.64%19,068.8427.80
195744.16%19,862.1427.90
195751.95%20,250.2828.00
195762.32%20,720.5228.10
19577-5.21%19,641.9928.30
19578-3.74%18,907.4928.30
19579-5.90%17,792.5928.30
195710-1.80%17,472.2428.30
1957110.32%17,527.8128.40
1957122.33%17,935.9828.40
195810.70%18,061.8728.60
195822.42%18,498.7828.60
195830.90%18,664.6128.80
195843.56%19,328.6728.90
195852.74%19,857.3528.90
195863.07%20,467.1228.90
195874.05%21,296.9229.00
195882.94%21,923.8428.90
195894.36%22,879.5028.90
1958103.33%23,640.5328.90
1958112.16%24,151.7429.00
1958124.25%25,179.3228.90
19591-1.27%24,860.8029.00
195922.81%25,558.4428.90
195931.94%26,053.3628.90
195941.77%26,513.3129.00
19595-0.61%26,352.5729.00
195964.23%27,466.6429.10
19597-0.32%27,379.1629.20
19598-3.70%26,365.2529.20
195990.18%26,411.8529.30
1959100.67%26,588.5729.40
1959113.46%27,509.3629.40
195912-1.49%27,100.6329.40
19601-3.61%26,122.5129.30
19602-1.08%25,840.8729.40
196031.58%26,250.2629.40
19604-0.62%26,086.3129.50
196053.99%27,126.6629.50
19606-2.20%26,530.9229.60
196071.49%26,926.4729.60
19608-2.72%26,193.8629.60
19609-1.67%25,755.3929.60
1960103.54%26,667.3529.80
1960112.69%27,384.8729.80
1960125.43%28,871.0329.80
196114.37%30,133.8829.80
196123.40%31,157.5429.80
196132.92%32,067.0329.80
196141.26%32,472.1529.80
19615-1.08%32,121.3929.80
19616-0.03%32,112.4229.80
196173.84%33,345.2030.00
19618-0.54%33,164.5729.90
196191.34%33,609.9830.00
1961104.77%35,213.8730.00
1961111.16%35,623.4130.00
196112-3.49%34,381.1830.00
196211.91%35,037.6930.00
196220.34%35,157.1630.10
19623-2.94%34,121.8030.10
19624-7.19%31,670.1330.20
19625-11.41%28,055.6930.20
196262.72%28,818.0730.20
196273.02%29,689.2530.30
19628-0.59%29,513.0930.30
19629-2.86%28,670.1030.40
1962107.20%30,734.6030.40
1962114.62%32,155.6930.40
1962124.15%33,489.1030.40
196311.60%34,023.4330.40
19632-0.11%33,986.5830.40
196334.98%35,678.4930.50
196342.27%36,488.2430.50
196350.22%36,567.2830.50
19636-1.22%36,120.4730.60
196373.03%37,215.3430.70
196382.89%38,292.2030.70
196390.50%38,483.6230.70
196310-0.31%38,365.6430.80
1963112.39%39,283.8730.80
1963123.33%40,592.0930.90
196411.48%41,192.8230.90
196422.07%42,045.9430.90
196431.69%42,757.8230.90
196441.22%43,279.6230.90
19645-0.35%43,127.8630.90
196463.96%44,836.1631.00
19647-1.23%44,286.6231.10
196481.97%45,157.0531.00
196491.97%46,046.7331.10
1964100.94%46,478.1631.10
196411-1.49%45,785.4931.20
1964122.82%47,077.0031.20
196510.98%47,536.0331.20
196520.34%47,695.5531.20
196531.56%48,438.4731.30
196541.73%49,277.7231.40
19655-4.51%47,056.6031.40
196560.10%47,105.0131.60
196572.12%48,102.9731.60
196583.60%49,832.8131.60
196592.50%51,077.0531.60
1965101.08%51,626.6331.70
196511-0.21%51,517.3831.70
1965121.98%52,537.6631.80
19661-0.43%52,311.5231.80
19662-3.86%50,291.0832.00
196633.32%51,961.2232.10
19664-5.01%49,359.2232.30
19665-0.56%49,083.0432.30
196660.02%49,092.0732.40
19667-5.77%46,259.7332.50
19668-3.22%44,767.9332.70
19669-0.56%44,515.2532.70
1966105.32%46,881.7132.90
1966110.72%47,217.2932.90
1966124.13%49,167.5032.90
196713.73%51,001.4632.90
196722.63%52,344.7032.90
196731.99%53,387.6533.00
196742.06%54,486.2033.10
19675-0.99%53,945.7933.20
196761.99%55,020.6233.30
196771.85%56,039.4133.40
196781.65%56,966.2533.50
196790.10%57,021.7433.60
196710-2.88%55,378.5333.70
1967113.11%57,101.7633.80
196712-0.02%57,091.7733.90
19681-4.26%54,661.3934.10
19682-1.56%53,809.0934.20
196837.66%57,931.8034.30
196842.56%59,413.5134.40
196852.94%61,160.6834.50
196860.05%61,190.6034.70
19687-1.93%60,007.2334.90
196883.51%62,112.0935.00
196892.72%63,799.7935.10
1968101.79%64,939.0935.30
1968111.29%65,773.7635.40
196812-3.99%63,152.5935.50
19691-0.24%63,001.9335.60
19692-1.91%61,796.2135.80
196932.27%63,201.6136.10
196943.51%65,422.1936.30
19695-4.97%62,169.8536.40
19696-4.21%59,555.4036.60
19697-0.28%59,386.4936.80
196980.63%59,759.7537.00
196991.35%60,564.3737.10
1969101.00%61,168.4737.30
196911-5.03%58,093.2437.50
196912-0.59%57,751.0537.70
19701-3.20%55,905.2737.80
197022.01%57,030.2338.00
19703-2.75%55,463.2238.20
19704-11.20%49,251.8838.50
19705-0.27%49,118.9638.60
197060.52%49,375.6338.80
197073.26%50,983.1939.00
197086.32%54,205.9939.00
197092.49%55,555.4539.20
1970100.21%55,670.3239.40
1970117.16%59,655.4039.60
1970124.11%62,107.6439.80
197114.15%64,685.7739.80
197122.83%66,517.5739.90
197133.67%68,961.3340.00
19714-1.11%68,197.3240.10
19715-1.60%67,108.9940.30
19716-0.46%66,798.3040.60
19717-1.52%65,784.9040.70
197182.49%67,420.5740.80
19719-1.86%66,164.0740.80
197110-4.37%63,271.6940.90
1971117.16%67,804.2240.90
1971124.42%70,802.8941.10
197212.09%72,280.5241.10
197222.62%74,173.9941.30
197231.26%75,107.7741.40
19724-0.78%74,525.0141.50
197250.52%74,909.6341.60
19726-0.50%74,532.1941.70
197273.78%77,352.2641.90
19728-1.21%76,415.9442.00
197290.42%76,734.9242.10
1972105.25%80,766.7342.30
1972112.31%82,633.6742.40
1972120.99%83,451.2242.50
19731-3.33%80,676.3642.60
19732-1.35%79,590.9842.90
19733-1.63%78,291.0243.30
19734-2.57%76,279.1343.60
19735-1.99%74,761.3343.90
197361.21%75,666.1344.20
19737-1.64%74,428.6744.30
197382.00%75,913.7345.10
197394.24%79,128.9245.20
197310-6.85%73,706.3345.60
197311-6.81%68,690.4045.90
1973121.70%69,858.4346.20
19741-2.47%68,130.9346.60
197424.57%71,247.6847.20
19743-4.82%67,815.9347.80
19744-2.71%65,981.0548.00
197450.46%66,282.7448.60
19746-11.35%58,761.7449.00
19747-3.76%56,549.5049.40
19748-10.01%50,886.8650.00
197492.38%52,096.4150.60
1974103.74%54,046.6151.10
197411-6.09%50,754.1851.50
1974128.63%55,135.6751.90
1975110.81%61,094.4852.10
197524.97%64,133.1052.50
197531.49%65,086.7852.70
197546.71%69,455.8252.90
197552.89%71,466.3053.20
197560.43%71,775.0453.60
19757-7.00%66,753.4754.20
19758-0.85%66,184.2854.30
197594.97%69,474.4754.60
1975102.04%70,892.9354.90
197511-1.18%70,056.6555.30
1975129.55%76,743.7655.50
197614.18%79,950.2255.60
197620.80%80,591.7555.80
197631.10%81,474.5955.90
19764-0.38%81,162.3256.10
197650.90%81,893.2556.50
197662.67%84,076.0056.80
19767-0.56%83,604.6557.10
197682.44%85,642.8357.40
19769-3.11%82,980.8757.60
197610-0.37%82,676.6357.90
1976113.79%85,807.1858.00
197612-0.54%85,346.1858.20
19771-2.37%83,324.6758.50
19772-0.05%83,279.5259.10
19773-1.19%82,285.4459.50
197740.06%82,338.5260.00
197750.90%83,079.3760.30
197761.28%84,144.8160.70
19777-2.08%82,395.7661.00
19778-1.18%81,427.3461.20
19779-2.20%79,637.6861.40
1977100.98%80,419.0461.60
197711-0.08%80,354.5961.90
197712-3.39%77,630.2862.10
19781-0.97%76,875.7262.50
197820.27%77,079.9562.90
197834.83%80,802.9163.40
197845.50%85,250.5663.90
197850.67%85,824.7764.50
19786-0.06%85,771.3165.20
197877.33%92,056.7665.70
197880.40%92,424.7066.00
19789-2.77%89,861.3066.50
197810-5.44%84,974.9567.10
1978111.92%86,608.8867.40
1978124.19%90,233.7267.70
19791-1.06%89,280.0068.30
197922.34%91,370.1869.10
197932.43%93,591.3069.80
19794-1.89%91,819.6070.60
197952.42%94,039.4671.50
197961.42%95,375.6272.30
197975.01%100,158.0773.10
197981.54%101,700.9673.80
19799-3.35%98,291.4274.60
197910-0.32%97,974.4975.20
1979114.40%102,289.2875.90
1979123.31%105,677.5876.70
198014.40%110,323.0177.80
19802-8.78%100,639.0578.90
19803-1.16%99,469.5780.10
198045.04%104,479.0081.00
198056.86%111,649.0681.80
198064.97%117,197.4182.70
198073.50%121,304.8182.70
198082.84%124,744.7883.30
198093.32%128,892.2684.00
1980104.61%134,840.2484.80
198011-1.24%133,161.7885.50
1980120.01%133,175.0886.30
19811-3.07%129,086.3787.00
198124.14%134,434.8187.90
198131.29%136,174.1288.50
19814-1.62%133,971.8189.10
198150.86%135,120.7489.80
19816-2.02%132,396.3790.60
198170.80%133,458.9391.60
19818-8.30%122,378.2692.30
198191.73%124,492.0493.20
1981103.04%128,281.2493.40
1981111.18%129,794.1593.70
198112-4.80%123,558.6894.00
19821-1.91%121,193.9094.30
19822-2.74%117,867.6894.60
198235.47%124,314.2394.50
198240.57%125,022.3994.90
19825-5.27%118,432.9395.80
198260.24%118,721.7397.00
198270.79%119,664.3597.50
1982812.10%134,139.4097.70
198298.88%146,052.8697.90
1982104.50%152,625.1198.20
1982111.36%154,693.9498.00
1982123.93%160,766.8597.60
198312.13%164,191.2097.80
198323.87%170,538.2097.90
198334.20%177,696.3697.90
198344.42%185,557.6698.60
198351.75%188,811.4299.20
198360.71%190,148.4699.50
19837-2.41%185,571.2399.90
198383.31%191,720.76100.20
198390.65%192,962.97100.70
198310-1.14%190,760.44101.00
198311-0.13%190,516.03101.20
1983121.58%193,518.43101.30
19841-5.11%183,625.42101.90
198420.44%184,437.71102.40
198430.51%185,373.18102.60
19844-0.25%184,904.97103.10
19845-1.85%181,487.37103.40
19846-0.91%179,838.65103.70
198479.21%196,395.60104.10
198481.41%199,158.82104.50
19849-0.41%198,337.49105.00
1984101.29%200,887.91105.30
198411-0.71%199,466.52105.30
1984124.70%208,836.59105.30
198515.79%220,922.72105.50
19852-0.48%219,866.01106.00
198531.02%222,119.00106.40
198542.74%228,195.37106.90
198552.51%233,925.28107.30
198562.25%239,182.09107.60
19857-1.85%234,768.44107.80
19858-1.88%230,343.07108.00
198591.50%233,788.00108.30
1985106.42%248,798.39108.70
1985115.29%261,971.06109.00
1985120.75%263,940.37109.30
198615.70%278,977.70109.60
198626.18%296,226.26109.30
198632.74%304,347.08108.80
198640.49%305,843.95108.60
198653.13%315,426.78108.90
19866-1.80%309,736.75109.50
198672.28%316,801.39109.50
19868-2.46%309,020.00109.70
19869-0.09%308,742.28110.20
1986103.53%319,649.99110.30
1986111.71%325,112.61110.40
1986126.67%346,808.58110.50
198716.46%369,218.93111.20
198724.38%385,377.46111.60
19873-0.86%382,077.05112.10
198740.17%382,737.40112.70
198754.50%399,954.62113.10
198763.12%412,441.59113.50
198776.45%439,060.62113.80
19878-3.03%425,755.21114.40
19879-11.85%375,286.68115.00
198710-12.30%329,113.60115.30
198711-1.33%324,720.94115.40
1987124.25%338,510.36115.40
198813.33%349,777.89115.70
198823.23%361,082.92116.00
19883-0.89%357,883.64116.50
19884-2.19%350,052.19117.10
198856.00%371,049.02117.50
19886-0.31%369,910.19118.00
19887-1.72%363,553.34118.50
198881.93%370,559.63119.00
198893.80%384,646.89119.80
198810-2.02%376,876.07120.20
1988112.33%385,642.03120.30
1988123.51%399,188.31120.50
198913.30%412,360.94121.10
19892-0.16%411,694.32121.60
198933.56%426,370.39122.30
198944.12%443,916.82123.10
198953.39%458,977.25123.80
198962.80%471,829.41124.10
198974.69%493,961.76124.40
198980.46%496,211.94124.60
198990.29%497,632.38125.00
198910-1.81%488,607.56125.60
1989112.74%501,979.32125.90
198912-2.21%490,879.42126.10
19901-2.53%478,474.00127.40
199022.71%491,427.09128.00
199030.20%492,390.21128.70
199043.85%511,351.79128.90
199053.17%527,561.42129.20
199060.17%528,456.82129.90
19907-7.86%486,913.63130.40
19908-4.34%465,776.41131.60
19909-2.32%454,990.11132.70
1990102.98%468,566.17133.50
1990114.59%490,057.45133.80
199012-0.69%486,699.72133.80
1991111.61%543,189.86134.60
199123.04%559,727.93134.80
199132.26%572,371.22135.00
19914-0.18%571,347.37135.20
199150.35%573,330.01135.60
199160.78%577,804.77136.00
199172.68%593,283.78136.20
19918-0.30%591,485.53136.60
199190.18%592,559.94137.20
1991100.02%592,653.53137.40
1991110.94%598,195.67137.80
1991127.36%642,211.06137.90
19921-0.60%638,352.37138.10
19922-1.01%631,889.83138.60
199230.26%633,559.93139.30
199242.07%646,664.17139.50
19925-1.33%638,069.21139.70
199261.91%650,269.95140.20
199270.94%656,393.67140.50
199280.38%658,876.07140.90
19929-1.18%651,087.78141.30
1992102.76%669,037.64141.80
1992113.27%690,923.20142.00
1992120.14%691,910.48141.90
199311.72%703,840.73142.60
199322.15%718,974.38143.10
19933-1.34%709,327.58143.60
199340.72%714,468.25144.00
199350.87%720,649.70144.20
199360.06%721,089.33144.40
199371.76%733,798.28144.40
199381.35%743,741.04144.80
199391.24%752,977.61145.10
1993100.01%753,034.42145.70
1993110.89%759,715.19145.80
1993121.74%772,902.93145.80
19941-0.08%772,317.84146.20
19942-1.42%761,321.44146.70
19943-3.35%735,844.75147.20
199441.06%743,631.77147.40
199451.11%751,871.90147.50
19946-0.52%747,970.62148.00
199473.08%771,023.66148.40
199480.82%777,326.51149.00
19949-0.44%773,875.13149.40
199410-0.37%771,012.69149.50
199411-1.03%763,104.36149.70
1994122.45%781,809.38149.70
199513.82%811,667.41150.30
199522.56%832,431.25150.90
199533.22%859,198.51151.40
199543.35%887,962.42151.90
199553.18%916,185.61152.20
199563.55%948,687.11152.50
199570.51%953,555.05152.50
199583.72%989,005.03152.90
199590.91%998,030.37153.20
1995102.36%1,021,567.77153.70
1995113.39%1,056,190.11153.60
1995120.16%1,057,907.26153.50
199615.90%1,120,370.27154.40
19962-0.20%1,118,121.72154.90
199630.20%1,120,324.89155.70
199642.35%1,146,706.59156.30
199651.28%1,161,368.30156.60
19966-3.48%1,120,992.58156.70
199673.08%1,155,471.54157.00
199682.02%1,178,855.13157.30
199694.12%1,227,418.04157.80
1996105.05%1,289,428.21158.30
1996111.20%1,304,878.49158.60
1996123.26%1,347,385.43158.60
199714.36%1,406,147.11159.10
19972-0.62%1,397,377.18159.60
19973-3.41%1,349,793.04160.00
199749.22%1,474,214.68160.20
199755.34%1,552,890.95160.10
199765.74%1,641,963.60160.30
199770.35%1,647,674.17160.50
199781.19%1,667,314.58160.80
199791.65%1,694,748.17161.20
199710-1.15%1,675,223.93161.60
1997112.63%1,719,359.66161.50
1997120.24%1,723,436.06161.30
199816.40%1,833,773.17161.60
199825.31%1,931,199.20161.90
199833.41%1,996,969.57162.20
19984-0.22%1,992,539.14162.50
199850.12%1,994,859.60162.80
199864.47%2,083,983.27163.00
19987-6.97%1,938,708.64163.20
19988-4.90%1,843,741.97163.40
199891.29%1,867,542.03163.60
19981010.97%2,072,493.27164.00
1998114.10%2,157,550.57164.00
1998125.05%2,266,456.97163.90
19991-0.07%2,264,945.02164.30
199922.92%2,331,160.91164.50
199934.25%2,430,235.76165.00
19994-0.10%2,427,833.92166.20
19995-0.61%2,412,981.23166.20
199964.52%2,522,105.58166.20
19997-3.77%2,426,911.59166.70
19998-0.60%2,412,398.26167.10
19999-1.27%2,381,701.18167.90
1999107.11%2,550,943.67168.20
1999112.81%2,622,592.81168.30
199912-0.12%2,619,473.69168.30
20001-2.48%2,554,561.11168.80
200023.94%2,655,235.17169.80
200031.42%2,693,063.39171.20
20004-2.84%2,616,612.87171.30
200053.16%2,699,388.90171.50
200060.85%2,722,342.95172.40
200070.94%2,747,925.11172.80
20008-1.08%2,718,257.12172.80
20009-5.21%2,576,520.95173.70
200010-0.77%2,556,615.67174.00
200011-3.32%2,471,734.14174.10
2000120.46%2,482,980.72174.00
20011-2.14%2,429,937.85175.10
20012-9.08%2,209,301.85175.80
200130.45%2,219,214.85176.20
200146.88%2,371,882.03176.90
20015-2.39%2,315,226.02177.70
20016-2.66%2,253,635.74178.00
20017-2.05%2,207,529.98177.50
20018-11.25%1,959,241.91177.50
200193.18%2,021,624.79178.30
2001105.05%2,123,780.45177.70
2001111.47%2,154,916.12177.40
200112-0.30%2,148,501.17176.70
20021-3.35%2,076,466.88177.10
200224.95%2,179,153.79177.80
20023-3.51%2,102,568.91178.80
20024-2.82%2,043,268.65179.80
20025-5.92%1,922,287.56179.80
20026-10.76%1,715,478.27179.90
200271.14%1,735,013.98180.10
20028-4.76%1,652,466.70180.70
20029-1.37%1,629,876.77181.00
2002106.63%1,737,865.51181.30
200211-1.04%1,719,877.54181.30
200212-0.22%1,716,050.51180.90
20031-6.41%1,605,968.68181.70
200321.31%1,626,973.12183.10
200335.29%1,712,972.62184.20
200345.31%1,803,969.35183.80
200355.70%1,906,871.10183.50
200360.60%1,918,234.16183.70
20037-0.17%1,915,043.67183.90
200383.16%1,975,581.67184.60
200392.03%2,015,643.08185.20
2003101.21%2,040,044.18185.00
2003113.06%2,102,547.27184.50
2003124.93%2,206,307.16184.30
200411.09%2,230,282.27185.20
20042-1.57%2,195,373.96186.20
200430.97%2,216,628.19187.40
20044-2.56%2,159,788.23188.00
200452.86%2,221,508.00189.10
20046-2.24%2,171,773.33189.70
20047-1.39%2,141,638.45189.40
200482.78%2,201,232.20189.50
200490.10%2,203,490.57189.90
2004104.77%2,308,682.92190.90
2004112.73%2,371,651.03191.00
200412-1.35%2,339,652.20190.30
200511.68%2,378,986.59190.70
20052-0.26%2,372,906.18191.80
20053-2.41%2,315,744.81193.30
200541.34%2,346,680.16194.60
200552.18%2,397,854.16194.40
200561.81%2,441,202.35194.50
200570.31%2,448,770.52195.40
200580.28%2,455,619.50196.40
20059-2.62%2,391,178.65198.80
2005103.96%2,485,906.20199.20
2005112.14%2,539,207.29197.60
2005121.47%2,576,451.62196.80
20061-0.02%2,576,022.91198.30
200621.49%2,614,306.16198.70
200630.80%2,635,176.98199.80
20064-0.79%2,614,447.74201.50
20065-2.71%2,543,706.20202.50
200660.72%2,562,021.92202.90
200672.29%2,620,737.29203.50
200682.53%2,687,072.70203.90
200693.62%2,784,234.91202.90
2006102.00%2,839,965.36201.80
2006112.15%2,900,975.34201.50
2006120.69%2,921,074.06201.80
200711.60%2,967,695.81202.42
20072-2.47%2,894,278.25203.50
200734.18%3,015,266.60205.35
200743.39%3,117,537.00206.69
200750.34%3,128,289.43207.95
200760.57%3,146,265.20208.35
20077-4.20%3,014,087.21208.30
200783.07%3,106,762.65207.92
200792.99%3,199,705.59208.49
200710-4.81%3,045,917.81208.94
2007111.24%3,083,633.00210.18
200712-6.64%2,879,027.87210.04
20081-1.56%2,834,000.86211.08
20082-2.63%2,759,561.98211.69
200834.24%2,876,672.34213.53
200842.56%2,950,390.07214.82
20085-4.25%2,825,099.33216.63
20086-6.08%2,653,376.47218.82
200872.11%2,709,376.91219.96
20088-4.85%2,578,038.88219.09
20089-20.19%2,057,440.41218.78
200810-8.61%1,880,390.50216.57
200811-0.35%1,873,786.25212.43
200812-1.10%1,853,257.86210.23
20091-6.70%1,729,043.13211.14
20092-5.69%1,630,704.90212.19
2009312.32%1,831,636.28212.71
200946.66%1,953,619.99213.24
200952.87%2,009,666.64213.86
200961.28%2,035,342.99215.69
200978.12%2,200,628.00215.35
200983.65%2,280,958.48215.83
200992.40%2,335,772.38215.97
2009102.09%2,384,691.06216.18
2009112.23%2,437,770.88216.33
2009121.36%2,470,850.65215.95
20101-2.90%2,399,233.70216.69
201025.94%2,541,821.02216.74
201034.09%2,645,728.89217.63
20104-5.88%2,490,096.62218.01
20105-3.54%2,401,858.45218.18
20106-0.16%2,398,037.74217.97
201070.86%2,418,747.47218.01
201083.37%2,500,287.19218.31
201094.58%2,614,736.25218.44
2010102.49%2,679,867.09218.71
2010113.71%2,779,390.28218.80
2010123.46%2,875,618.14219.18
201113.15%2,966,224.96220.22
20112-1.11%2,933,226.86221.31
201132.22%2,998,373.33223.47
201140.66%3,018,139.65224.91
20115-3.66%2,907,597.27225.96
201163.10%2,997,783.25225.72
20117-10.40%2,685,994.40225.92
20118-0.79%2,664,795.32226.55
201193.02%2,745,242.98226.89
2011101.77%2,793,754.79226.42
2011111.55%2,837,190.72226.23
2011124.78%2,972,881.01225.67
201214.16%3,096,630.41226.67
201222.88%3,185,932.20227.66
20123-0.04%3,184,714.84229.39
20124-3.09%3,086,276.83230.09
20125-1.15%3,050,710.23229.82
201262.92%3,139,824.12229.48
201273.39%3,246,191.97229.10
201283.02%3,344,264.82230.38
20129-0.22%3,337,003.26231.41
201210-2.84%3,242,316.00231.32
2012112.18%3,312,853.72230.22
2012124.27%3,454,271.54229.60
201312.33%3,534,860.45230.28
201322.72%3,631,095.40232.17
201331.45%3,683,883.95232.77
201344.57%3,852,394.75232.53
20135-1.12%3,809,333.64232.95
201363.25%3,933,307.53233.50
201370.25%3,943,240.25233.60
201381.19%3,990,262.10233.88
201392.12%4,074,757.89234.15
2013103.86%4,232,043.30233.55
2013111.52%4,296,440.68233.07
2013120.97%4,338,021.96233.05
20141-0.13%4,332,380.98233.92
201422.72%4,450,320.06234.78
201430.20%4,459,297.42236.29
201441.53%4,527,615.40237.07
201453.20%4,672,332.38237.90
201461.50%4,742,222.16238.34
20147-0.43%4,721,975.20238.25
201481.78%4,805,933.52237.85
20149-2.65%4,678,740.46238.03
2014105.71%4,945,693.12237.43
2014110.63%4,977,043.26236.15
201412-1.11%4,921,795.82234.81
201512.83%5,060,954.58233.71
201520.06%5,063,756.49234.72
201530.88%5,108,237.02236.12
201540.98%5,158,241.75236.60
20155-0.44%5,135,777.61237.81
20156-0.08%5,131,687.98238.64
20157-2.42%5,007,275.47238.65
20158-4.51%4,781,592.78238.32
201594.32%4,988,019.85237.95
2015102.93%5,134,292.03237.84
201511-1.10%5,077,662.34237.34
201512-6.42%4,751,695.62236.53
20161-0.55%4,725,565.61236.92
201626.36%5,026,240.48237.11
201632.83%5,168,546.43238.13
20164-0.30%5,152,815.17239.26
201651.07%5,207,769.44240.23
201663.30%5,379,492.46241.02
201671.20%5,444,006.40240.63
20168-0.44%5,420,125.10240.85
20169-0.51%5,392,700.30241.43
2016101.20%5,457,475.29241.73
2016113.95%5,672,825.30241.35
2016121.44%5,754,379.80241.43
201712.58%5,902,638.25242.84
201721.75%6,005,890.56243.60
20173-0.15%5,996,641.24243.80
201741.69%6,098,126.80244.52
201751.78%6,206,455.62244.73
201760.99%6,267,768.21244.96
201770.25%6,283,300.07244.79
201781.65%6,387,179.55245.52
201792.73%6,561,856.08246.82
2017101.59%6,666,161.31246.66
2017112.88%6,858,379.15246.67
2017124.86%7,191,826.57246.52
20181-2.89%6,984,221.09247.87
201820.06%6,988,731.38248.99
20183-1.66%6,872,440.85249.55
201841.96%7,007,252.10250.55
201852.11%7,155,313.22251.59
201861.58%7,268,420.26251.99
201872.45%7,446,555.06252.01
201881.68%7,571,638.40252.15
20189-3.85%7,280,207.09252.44
201810-2.08%7,129,062.10252.89
201811-5.56%6,732,507.15252.04
2018121.74%6,849,359.00251.23
201915.83%7,248,601.46251.71
201921.95%7,389,805.81252.78
201933.72%7,664,944.51254.20
20194-1.53%7,547,533.77255.55
201951.40%7,653,557.68256.09
201963.83%7,946,485.65256.14
20197-3.13%7,697,409.89256.57
201983.09%7,934,892.49256.56
201990.01%7,935,670.33256.76
2019104.43%8,287,513.53257.35
2019112.47%8,492,158.75257.21
2019123.35%8,776,340.14256.97
202010.12%8,787,054.01257.97
20202-18.92%7,124,744.71258.68
202034.32%7,432,434.96258.12
202045.89%7,870,009.56256.39
202056.51%8,382,211.18256.39
202063.48%8,673,613.29257.80
202075.89%9,184,793.11259.10
20208-0.63%9,127,204.22259.92
202091.73%9,284,739.89260.28
2020103.95%9,651,869.33260.39
2020114.26%10,063,046.72260.23
2020122.80%10,344,339.05260.47
202112.49%10,602,071.21261.58
202120.82%10,689,152.13263.01
202136.02%11,332,797.94264.88
202140.76%11,418,953.44267.05
202151.81%11,625,684.78269.20
202163.07%11,982,384.21271.70
202172.19%12,244,218.70273.00
20218-0.08%12,233,872.48273.57
202190.45%12,289,191.12274.31
2021104.74%12,872,281.79276.59
2021110.27%12,906,445.29277.95
202112-2.05%12,641,611.12278.80
20221-2.90%12,274,679.52281.15
20222-0.89%12,165,117.74283.72
202230.12%12,179,509.30287.50
20224-7.87%11,220,649.38289.11
20225-3.37%10,842,582.52292.30
202260.46%10,892,966.41296.31
202276.45%11,595,278.86296.28
20228-7.28%10,751,443.55296.17
20229-3.09%10,419,097.60296.81
2022101.19%10,543,529.59298.01
Click to show 1146 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 $1,000.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $1,000.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1926. This would result in a final amount of $9,230,960.11, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $10,543,529.59).

YearMonthContribution ($)Amount ($)
1926141.6641.73
1926241.6677.89
1926341.66116.56
1926441.66159.85
1926541.66211.83
1926641.66265.11
1926741.66320.07
1926841.66368.58
1926941.66402.54
19261041.66451.74
19261141.66506.57
19261241.66546.73
1927141.66602.18
1927241.66656.32
1927341.66717.89
1927441.66788.76
1927541.66844.38
1927641.66909.13
1927741.661,005.06
1927841.661,110.02
1927941.661,138.10
19271041.661,210.94
19271141.661,286.49
19271241.821,338.36
19281-1,327.27
19282-1,403.54
19283-1,497.04
19284-1,548.47
19285-1,477.78
19286-1,493.90
19287-1,547.54
19288-1,661.66
19289-1,700.84
192810-1,821.30
192811-1,833.96
192812-1,975.04
19291-1,991.06
19292-2,031.89
19293-2,025.76
19294-2,062.16
19295-2,107.56
19296-2,301.46
19297-2,438.57
19298-2,542.07
19299-2,279.60
192910-1,682.56
192911-1,756.14
192912-1,788.21
19301-1,906.89
19302-1,985.50
19303-2,118.28
19304-1,998.57
19305-1,803.32
19306-1,771.58
19307-1,755.71
19308-1,761.73
19309-1,526.17
193010-1,422.40
193011-1,334.38
193012-1,381.84
19311-1,494.31
19312-1,529.88
19313-1,390.97
19314-1,263.56
19315-1,229.71
19316-1,277.14
19317-1,245.40
19318-1,066.46
19319-930.48
193110-949.60
193111-777.72
193112-771.12
19321-770.76
19322-779.55
19323-598.51
19324-530.79
19325-465.01
19326-493.77
19327-747.34
19328-824.81
19329-715.80
193210-713.40
193211-694.56
193212-726.31
19331-644.48
19332-646.63
19333-719.33
19334-930.22
19335-1,093.78
19336-1,186.33
19337-1,131.26
19338-1,125.79
19339-1,020.22
193310-1,048.80
193311-1,073.15
193312-1,138.45
19341-1,226.67
19342-1,167.81
19343-1,191.39
19344-1,074.32
19345-1,092.61
19346-1,045.02
19347-1,008.29
19348-988.04
19349-999.98
193410-1,032.08
193411-1,043.01
193412-1,047.24
19351-1,019.81
19352-959.34
19353-1,035.48
19354-1,121.07
19355-1,167.86
19356-1,233.26
19357-1,320.88
19358-1,353.02
19359-1,393.42
193510-1,528.73
193511-1,533.22
193512-1,622.48
19361-1,720.35
19362-1,761.83
19363-1,769.14
19364-1,680.33
19365-1,757.19
19366-1,866.74
19367-1,909.63
19368-1,937.20
19369-2,044.73
193610-2,108.15
193611-2,078.63
193612-2,150.52
19371-2,221.53
19372-2,226.64
19373-2,101.40
19374-2,015.54
19375-1,948.25
19376-2,072.82
19377-2,102.60
19378-1,813.23
19379-1,557.60
193710-1,428.86
193711-1,414.30
193712-1,460.07
19381-1,433.75
19382-1,347.46
19383-1,301.06
19384-1,321.31
19385-1,360.07
19386-1,638.70
19387-1,656.03
19388-1,588.39
19389-1,772.92
193810-1,781.17
193811-1,735.75
193812-1,715.57
19391-1,707.72
19392-1,712.27
19393-1,502.67
19394-1,564.22
19395-1,598.19
19396-1,643.52
19397-1,625.98
19398-1,805.74
19399-1,830.72
193910-1,804.94
193911-1,769.32
193912-1,766.70
19401-1,762.67
19402-1,760.11
19403-1,785.10
19404-1,546.95
19405-1,421.73
19406-1,476.74
19407-1,515.87
19408-1,587.99
19409-1,611.27
194010-1,657.20
194011-1,597.71
194012-1,609.21
19411-1,517.10
19412-1,534.96
19413-1,495.87
19414-1,472.12
19415-1,532.57
19416-1,620.12
19417-1,621.34
19418-1,635.33
19419-1,579.17
194110-1,514.68
194111-1,425.60
194112-1,462.89
19421-1,426.62
19422-1,358.68
19423-1,311.76
19424-1,336.30
19425-1,413.11
19426-1,475.03
19427-1,475.70
19428-1,500.22
19429-1,619.77
194210-1,654.67
194211-1,672.15
194212-1,780.90
19431-1,895.48
19432-1,971.57
19433-2,046.23
19434-2,135.51
19435-2,182.06
19436-2,236.01
19437-2,134.52
19438-2,189.01
19439-2,178.06
194310-2,086.44
194311-2,123.37
194312-2,201.21
19441-2,195.85
19442-2,267.00
19443-2,237.34
19444-2,286.63
19445-2,404.21
19446-2,476.79
19447-2,450.65
19448-2,420.62
19449-2,490.43
194410-2,483.35
194411-2,547.92
194412-2,634.15
19451-2,732.49
19452-2,741.09
19453-2,820.62
19454-2,937.98
19455-3,002.25
19456-2,951.35
19457-2,972.20
19458-3,185.59
19459-3,329.39
194510-3,449.45
194511-3,519.29
194512-3,670.58
19461-3,692.08
19462-3,593.21
19463-3,836.45
19464-3,856.32
19465-3,843.26
19466-3,745.35
19467-3,684.54
19468-3,153.14
19469-3,094.11
194610-3,093.70
194611-3,198.71
194612-3,228.13
19471-3,365.97
19472-3,242.35
19473-3,135.41
19474-3,092.70
19475-3,213.95
19476-3,429.08
19477-3,375.63
19478-3,302.48
19479-3,402.44
194710-3,377.60
194711-3,339.69
194712-3,310.81
19481-3,163.52
19482-3,224.23
19483-3,488.22
19484-3,674.14
19485-3,842.68
19486-3,767.48
19487-3,673.73
19488-3,648.82
19489-3,765.16
194810-3,573.11
194811-3,567.46
194812-3,625.59
19491-3,504.94
19492-3,557.22
19493-3,571.93
19494-3,565.40
19495-3,390.24
19496-3,602.58
19497-3,752.82
19498-3,823.05
19499-3,943.16
194910-4,019.95
194911-4,150.26
194912-4,259.41
19501-4,366.87
19502-4,426.92
19503-4,576.82
19504-4,755.98
19505-4,858.93
19506-4,532.23
19507-4,833.07
19508-5,031.64
19509-5,269.20
195010-5,289.02
195011-5,299.31
195012-5,723.93
19511-5,970.56
19512-5,904.14
19513-6,017.88
19514-6,055.70
19515-5,986.36
19516-6,128.04
19517-6,432.31
19518-6,634.01
19519-6,635.90
195110-6,486.36
195111-6,720.73
195112-6,978.39
19521-6,885.43
19522-6,937.06
19523-6,951.14
19524-6,983.10
19525-7,209.69
19526-7,452.43
19527-7,518.05
19528-7,434.70
19529-7,314.94
195210-7,583.21
195211-7,925.14
195212-8,003.51
19531-7,941.60
19532-8,017.61
19533-7,658.99
19534-7,735.79
19535-7,495.39
19536-7,638.83
19537-7,707.49
19538-7,390.95
19539-7,650.87
195310-7,858.07
195311-8,002.41
195312-8,244.39
19541-8,465.04
19542-8,683.64
19543-9,070.10
19544-9,471.23
19545-9,587.07
19546-10,014.40
19547-10,254.17
19548-10,535.11
19549-10,820.68
195410-11,286.21
195411-11,845.25
195412-12,102.12
19551-12,550.47
19552-12,495.70
19553-12,971.56
19554-12,961.35
19555-13,757.84
19556-14,809.51
19557-14,765.18
19558-15,476.33
19559-14,745.10
195510-15,787.01
195511-15,982.32
195512-15,600.70
19561-15,748.82
19562-16,883.69
19563-17,134.04
19564-16,647.69
19565-16,604.07
19566-17,558.62
19567-17,508.62
19568-16,967.81
19569-16,806.00
195610-16,686.27
195611-16,988.11
195612-16,671.69
19571-16,005.53
19572-16,264.90
19573-16,694.95
19574-17,389.49
19575-17,729.32
19576-18,141.01
19577-17,196.75
19578-16,553.69
19579-15,577.58
195710-15,297.11
195711-15,345.77
195712-15,703.12
19581-15,813.34
19582-16,195.86
19583-16,341.05
19584-16,922.43
19585-17,385.29
19586-17,919.16
19587-18,645.65
19588-19,194.53
19589-20,031.22
195810-20,697.51
195811-21,145.08
195812-22,044.74
19591-21,765.86
19592-22,376.65
19593-22,809.96
19594-23,212.65
19595-23,071.92
19596-24,047.31
19597-23,970.71
19598-23,083.02
19599-23,123.82
195910-23,278.54
195911-24,084.71
195912-23,726.86
19601-22,870.50
19602-22,623.92
19603-22,982.35
19604-22,838.82
19605-23,749.65
19606-23,228.08
19607-23,574.38
19608-22,932.97
19609-22,549.08
196010-23,347.51
196011-23,975.71
196012-25,276.86
19611-26,382.50
19612-27,278.72
19613-28,074.99
19614-28,429.68
19615-28,122.58
19616-28,114.72
19617-29,194.04
19618-29,035.89
19619-29,425.86
196110-30,830.08
196111-31,188.64
196112-30,101.05
19621-30,675.83
19622-30,780.43
19623-29,873.96
19624-27,727.50
19625-24,563.03
19626-25,230.49
19627-25,993.22
19628-25,838.99
19629-25,100.95
196210-26,908.43
196211-28,152.61
196212-29,320.02
19631-29,787.83
19632-29,755.57
19633-31,236.86
19634-31,945.80
19635-32,015.00
19636-31,623.82
19637-32,582.38
19638-33,525.19
19639-33,692.78
196310-33,589.48
196311-34,393.40
196312-35,538.76
19641-36,064.70
19642-36,811.62
19643-37,434.88
19644-37,891.72
19645-37,758.85
19646-39,254.49
19647-38,773.36
19648-39,535.43
19649-40,314.35
196410-40,692.07
196411-40,085.63
196412-41,216.36
19651-41,618.24
19652-41,757.90
19653-42,408.34
19654-43,143.11
19655-41,198.50
19656-41,240.89
19657-42,114.61
19658-43,629.10
19659-44,718.44
196510-45,199.60
196511-45,103.95
196512-45,997.22
19661-45,799.23
19662-44,030.31
19663-45,492.54
19664-43,214.47
19665-42,972.67
19666-42,980.58
19667-40,500.83
19668-39,194.74
19669-38,973.53
196610-41,045.38
196611-41,339.18
196612-43,046.61
19671-44,652.26
19672-45,828.28
19673-46,741.40
19674-47,703.18
19675-47,230.05
19676-48,171.07
19677-49,063.03
19678-49,874.49
19679-49,923.07
196710-48,484.42
196711-49,993.13
196712-49,984.39
19681-47,856.56
19682-47,110.37
19683-50,719.84
19684-52,017.10
19685-53,546.76
19686-53,572.95
19687-52,536.90
19688-54,379.72
19689-55,857.32
196810-56,854.79
196811-57,585.55
196812-55,290.69
19691-55,158.79
19692-54,103.17
19693-55,333.61
19694-57,277.75
19695-54,430.29
19696-52,141.32
19697-51,993.44
19698-52,320.23
19699-53,024.68
196910-53,553.58
196911-50,861.18
196912-50,561.59
19701-48,945.60
19702-49,930.51
19703-48,558.57
19704-43,120.49
19705-43,004.11
19706-43,228.83
19707-44,636.27
19708-47,457.86
19709-48,639.33
197010-48,739.89
197011-52,228.86
197012-54,375.83
19711-56,633.00
19712-58,236.76
19713-60,376.30
19714-59,707.40
19715-58,754.56
19716-58,482.55
19717-57,595.30
19718-59,027.35
19719-57,927.27
197110-55,394.96
197111-59,363.24
197112-61,988.60
19721-63,282.28
19722-64,940.03
19723-65,757.56
19724-65,247.36
19725-65,584.09
19726-65,253.64
19727-67,722.64
19728-66,902.88
19729-67,182.15
197210-70,712.04
197211-72,346.56
197212-73,062.33
19731-70,632.92
19732-69,682.66
19733-68,544.53
19734-66,783.10
19735-65,454.26
19736-66,246.41
19737-65,163.00
19738-66,463.19
19739-69,278.12
197310-64,530.59
197311-60,139.10
197312-61,161.72
19741-59,649.28
19742-62,378.02
19743-59,373.49
19744-57,767.04
19745-58,031.17
19746-51,446.46
19747-49,509.62
19748-44,551.93
19749-45,610.90
197410-47,318.32
197411-44,435.77
197412-48,271.81
19751-53,488.80
19752-56,149.14
19753-56,984.09
19754-60,809.23
19755-62,569.43
19756-62,839.72
19757-58,443.30
19758-57,944.96
19759-60,825.56
197510-62,067.43
197511-61,335.26
197512-67,189.89
19761-69,997.17
19762-70,558.84
19763-71,331.77
19764-71,058.38
19765-71,698.32
19766-73,609.33
19767-73,196.66
19768-74,981.11
19769-72,650.54
197610-72,384.17
197611-75,125.00
197612-74,721.39
19771-72,951.54
19772-72,912.01
19773-72,041.68
19774-72,088.15
19775-72,736.78
19776-73,669.58
19777-72,138.27
19778-71,290.41
19779-69,723.54
197710-70,407.63
197711-70,351.20
197712-67,966.05
19781-67,305.42
19782-67,484.23
19783-70,743.71
19784-74,637.68
19785-75,140.40
19786-75,093.60
19787-80,596.56
19788-80,918.70
19789-78,674.42
197810-74,396.38
197811-75,826.89
197812-79,000.48
19791-78,165.48
19792-79,995.46
19793-81,940.07
19794-80,388.93
19795-82,332.44
19796-83,502.26
19797-87,689.34
19798-89,040.15
19799-86,055.07
197910-85,777.60
197911-89,555.24
197912-92,521.72
19801-96,588.84
19802-88,110.44
19803-87,086.55
19804-91,472.35
19805-97,749.81
19806-102,607.45
19807-106,203.51
19808-109,215.24
19809-112,846.39
198010-118,053.91
198011-116,584.40
198012-116,596.04
19811-113,016.34
19812-117,698.95
19813-119,221.73
19814-117,293.59
19815-118,299.49
19816-115,914.28
19817-116,844.56
19818-107,143.33
19819-108,993.96
198110-112,311.44
198111-113,636.01
198112-108,176.80
19821-106,106.41
19822-103,194.27
19823-108,838.29
19824-109,458.29
19825-103,689.16
19826-103,942.00
19827-104,767.27
19828-117,440.32
19829-127,870.66
198210-133,624.73
198211-135,436.02
198212-140,752.90
19831-143,750.96
19832-149,307.81
19833-155,574.84
19834-162,457.49
19835-165,306.19
19836-166,476.78
19837-162,469.37
19838-167,853.34
19839-168,940.91
198310-167,012.58
198311-166,798.59
198312-169,427.22
19841-160,765.80
19842-161,476.96
19843-162,295.97
19844-161,886.06
19845-158,893.91
19846-157,450.44
19847-171,946.21
19848-174,365.44
19849-173,646.35
198410-175,879.27
198411-174,634.83
198412-182,838.42
19851-193,419.94
19852-192,494.77
19853-194,467.29
19854-199,787.21
19855-204,803.80
19856-209,406.19
19857-205,542.00
19858-201,667.54
19859-204,683.61
198510-217,825.35
198511-229,358.15
198512-231,082.30
19861-244,247.62
19862-259,348.90
19863-266,458.75
19864-267,769.28
19865-276,159.13
19866-271,177.46
19867-277,362.62
19868-270,549.94
19869-270,306.79
198610-279,856.60
198611-284,639.18
198612-303,634.20
19871-323,254.67
19872-337,401.62
19873-334,512.08
19874-335,090.22
19875-350,164.06
19876-361,096.53
19877-384,401.74
19878-372,752.73
19879-328,567.04
198710-288,142.08
198711-284,296.27
198712-296,369.03
19881-306,233.86
19882-316,131.52
19883-313,330.52
19884-306,474.01
19885-324,856.93
19886-323,859.88
19887-318,294.40
19888-324,428.47
19889-336,762.00
198810-329,958.57
198811-337,633.25
198812-349,493.15
19891-361,025.91
19892-360,442.28
19893-373,291.32
19894-388,653.39
19895-401,838.93
19896-413,091.12
19897-432,468.21
19898-434,438.26
19899-435,681.86
198910-427,780.55
198911-439,487.65
198912-429,769.59
19901-418,908.52
19902-430,249.07
19903-431,092.30
19904-447,693.34
19905-461,885.03
19906-462,668.96
19907-426,297.50
19908-407,791.67
19909-398,348.15
199010-410,234.12
199011-429,049.94
199012-426,110.22
19911-475,567.87
19912-490,047.11
19913-501,116.43
19914-500,220.04
19915-501,955.86
19916-505,873.55
19917-519,425.57
19918-517,851.19
19919-518,791.84
199110-518,873.79
199111-523,725.98
199112-562,261.88
19921-558,883.55
19922-553,225.53
19923-554,687.73
19924-566,160.61
19925-558,635.65
19926-569,317.50
19927-574,678.88
19928-576,852.24
19929-570,033.53
199210-585,748.80
199211-604,909.81
199212-605,774.19
19931-616,219.23
19932-629,468.89
19933-621,023.02
19934-625,523.73
19935-630,935.65
19936-631,320.54
19937-642,447.35
19938-651,152.33
19939-659,239.04
199310-659,288.77
199311-665,137.85
199312-676,683.85
19941-676,171.59
19942-666,544.14
19943-644,239.05
19944-651,056.66
19945-658,270.97
19946-654,855.37
19947-675,038.52
19948-680,556.73
19949-677,535.01
199410-675,028.92
199411-668,105.10
199412-684,481.52
19951-710,622.51
19952-728,801.45
19953-752,236.44
19954-777,419.52
19955-802,129.19
19956-830,584.56
19957-834,846.49
19958-865,883.28
19959-873,785.05
199510-894,392.27
199511-924,704.46
199512-926,207.84
19961-980,894.80
19962-978,926.17
19963-980,855.06
19964-1,003,952.49
19965-1,016,788.96
19966-981,439.63
19967-1,011,626.29
19968-1,032,098.84
19969-1,074,616.13
199610-1,128,906.62
199611-1,142,433.49
199612-1,179,648.72
19971-1,231,095.13
19972-1,223,416.97
19973-1,181,756.61
19974-1,290,688.93
19975-1,359,570.74
19976-1,437,554.70
19977-1,442,554.36
19978-1,459,749.72
19979-1,483,768.09
199710-1,466,674.44
199711-1,505,315.68
199712-1,508,884.61
19981-1,605,485.79
19982-1,690,783.21
19983-1,748,365.79
19984-1,744,486.91
19985-1,746,518.49
19986-1,824,547.11
19987-1,697,357.80
19988-1,614,213.57
19989-1,635,050.76
199810-1,814,487.51
199811-1,888,955.98
199812-1,984,304.57
19991-1,982,980.84
19992-2,040,953.48
19993-2,127,694.45
19994-2,125,591.61
19995-2,112,587.94
19996-2,208,127.35
19997-2,124,784.11
19998-2,112,077.54
19999-2,085,201.97
199910-2,233,375.37
199911-2,296,104.87
199912-2,293,374.05
20001-2,236,542.47
20002-2,324,683.57
20003-2,357,802.53
20004-2,290,869.37
20005-2,363,340.57
20006-2,383,437.06
20007-2,405,834.48
20008-2,379,859.88
20009-2,255,768.51
200010-2,238,341.26
200011-2,164,026.68
200012-2,173,873.16
20011-2,127,433.63
20012-1,934,264.72
20013-1,942,943.64
20014-2,076,605.20
20015-2,027,002.33
20016-1,973,079.46
20017-1,932,713.43
20018-1,715,334.87
20019-1,769,951.67
200110-1,859,389.92
200111-1,886,649.49
200112-1,881,033.14
20021-1,817,966.44
20022-1,907,869.80
20023-1,840,819.01
20024-1,788,901.08
20025-1,682,980.99
20026-1,501,917.49
20027-1,519,021.19
20028-1,446,750.26
20029-1,426,972.57
200210-1,521,517.73
200211-1,505,769.09
200212-1,502,418.49
20031-1,406,040.81
20032-1,424,430.39
20033-1,499,723.77
20034-1,579,392.27
20035-1,669,483.72
20036-1,679,432.19
20037-1,676,638.89
20038-1,729,640.48
20039-1,764,714.63
200310-1,786,078.02
200311-1,840,800.06
200312-1,931,642.84
20041-1,952,633.27
20042-1,922,070.72
20043-1,940,679.00
20044-1,890,915.07
20045-1,944,951.31
20046-1,901,408.14
20047-1,875,024.77
20048-1,927,199.66
20049-1,929,176.88
200410-2,021,273.78
200411-2,076,402.96
200412-2,048,387.68
20051-2,082,825.31
20052-2,077,501.86
20053-2,027,456.53
20054-2,054,540.73
20055-2,099,344.05
20056-2,137,295.80
20057-2,143,921.80
20058-2,149,918.15
20059-2,093,499.58
200510-2,176,434.45
200511-2,223,100.05
200512-2,255,707.82
20061-2,255,332.48
20062-2,288,849.82
20063-2,307,122.43
20064-2,288,973.78
20065-2,227,038.89
20066-2,243,074.48
20067-2,294,480.34
20068-2,352,557.62
20069-2,437,624.06
200610-2,486,416.59
200611-2,539,831.41
200612-2,557,428.04
20071-2,598,245.82
20072-2,533,968.05
20073-2,639,894.50
20074-2,729,433.20
20075-2,738,847.06
20076-2,754,585.01
20077-2,638,861.92
20078-2,720,000.16
20079-2,801,372.58
200710-2,666,729.92
200711-2,699,749.93
200712-2,520,616.19
20081-2,481,194.62
20082-2,416,022.68
20083-2,518,553.91
20084-2,583,094.48
20085-2,473,401.25
20086-2,323,056.26
20087-2,372,085.17
20088-2,257,097.48
20089-1,801,308.58
200810-1,646,299.71
200811-1,640,517.62
200812-1,622,544.82
20091-1,513,793.65
20092-1,427,697.60
20093-1,603,614.93
20094-1,710,412.83
20095-1,759,482.19
20096-1,781,962.08
20097-1,926,670.68
20098-1,997,000.77
20099-2,044,990.86
200910-2,087,819.63
200911-2,134,291.52
200912-2,163,253.17
20101-2,100,551.85
20102-2,225,388.40
20103-2,316,360.72
20104-2,180,103.20
20105-2,102,849.84
20106-2,099,504.78
20107-2,117,636.34
20108-2,189,025.14
20109-2,289,226.37
201010-2,346,249.05
201011-2,433,382.54
201012-2,517,630.95
20111-2,596,958.07
20112-2,568,067.93
20113-2,625,104.28
20114-2,642,409.88
20115-2,545,628.97
20116-2,624,587.65
20117-2,351,613.56
20118-2,333,053.56
20119-2,403,486.26
201110-2,445,958.80
201111-2,483,987.37
201112-2,602,785.51
20121-2,711,129.28
20122-2,789,313.84
20123-2,788,248.04
20124-2,702,064.62
20125-2,670,925.73
20126-2,748,945.79
20127-2,842,071.85
20128-2,927,935.56
20129-2,921,577.99
201210-2,838,678.39
201211-2,900,434.84
201212-3,024,247.48
20131-3,094,803.84
20132-3,179,058.45
20133-3,225,275.33
20134-3,372,808.12
20135-3,335,107.72
20136-3,443,648.03
20137-3,452,344.22
20138-3,493,512.30
20139-3,567,489.16
201310-3,705,194.03
201311-3,761,574.55
201312-3,797,979.36
20141-3,793,040.62
20142-3,896,297.40
20143-3,904,157.17
20144-3,963,970.21
20145-4,090,671.30
20146-4,151,860.46
20147-4,134,134.05
20148-4,207,640.36
20149-4,096,281.63
201410-4,330,001.22
201411-4,357,448.56
201412-4,309,078.90
20151-4,430,913.71
20152-4,433,366.82
20153-4,472,309.94
20154-4,516,089.56
20155-4,496,421.99
20156-4,492,841.48
20157-4,383,917.14
20158-4,186,329.81
20159-4,367,058.66
201510-4,495,121.35
201511-4,445,541.51
201512-4,160,154.56
20161-4,137,277.50
20162-4,400,521.19
20163-4,525,111.40
20164-4,511,338.53
20165-4,559,451.52
20166-4,709,796.65
20167-4,766,279.21
20168-4,745,370.91
20169-4,721,360.24
201610-4,778,071.36
201611-4,966,612.33
201612-5,038,014.07
20171-5,167,815.75
20172-5,258,214.12
20173-5,250,116.25
20174-5,338,967.82
20175-5,433,810.74
20176-5,487,490.49
20177-5,501,088.78
20178-5,592,036.25
20179-5,744,967.21
201710-5,836,287.42
201711-6,004,575.97
201712-6,296,512.34
20181-6,114,751.78
20182-6,118,700.58
20183-6,016,887.12
20184-6,134,915.65
20185-6,264,544.56
20186-6,363,570.84
20187-6,519,529.55
20188-6,629,041.20
20189-6,373,890.32
201810-6,241,561.46
201811-5,894,373.84
201812-5,996,678.74
20191-6,346,219.30
20192-6,469,845.04
20193-6,710,731.58
20194-6,607,937.37
20195-6,700,762.31
20196-6,957,223.52
20197-6,739,155.33
20198-6,947,073.60
20199-6,947,754.61
201910-7,255,796.66
201911-7,434,965.49
201912-7,683,768.99
20201-7,693,149.09
20202-6,237,781.54
20203-6,507,167.27
20204-6,890,267.98
20205-7,338,705.35
20206-7,593,830.67
20207-8,041,373.44
20208-7,990,953.82
20209-8,128,877.79
202010-8,450,303.10
202011-8,810,292.81
202012-9,056,566.90
20211-9,282,213.85
20212-9,358,454.03
20213-9,921,972.04
20214-9,997,402.00
20215-10,178,397.24
20216-10,490,690.98
20217-10,719,929.55
20218-10,710,871.34
20219-10,759,303.34
202110-11,269,804.74
202111-11,299,715.21
202112-11,067,850.38
20221-10,746,598.29
20222-10,650,675.92
20223-10,663,275.86
20224-9,823,784.91
20225-9,492,783.79
20226-9,536,895.36
20227-10,151,776.57
20228-9,412,990.76
20229-9,122,018.73
202210-9,230,960.11
Click to show 1146 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 1926 to 2022
Start Value
Average monthly close
$12.65
End Value
Average monthly close
$3,770.55
Change in price+29,706.72%
+6.11% / yr
Change incl. dividends+1,054,252.96%
+10.04% / yr
Change incl. dividends, inflation-adjusted+62,521.80%
+6.88% / yr
Final amount, nominal
($1000 base)
$10,543,529.59
Final amount, inflation-adjusted
($1000 base)
$626,217.98