S&P 500: $100 in 1933 → $1,286,138.37 in 2022

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Stock market returns since 1933

If you invested $100 in the S&P 500 at the beginning of 1933, you would have about $1,286,138.37 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 1,286,038.37%, or 11.15% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $947,829.61.

This investment result beats inflation during this period for an inflation-adjusted return of about 56,333.19% cumulatively, or 7.34% per year.

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 $1,286,038.37, or 1,286,038.37%. This means by 2022 you would have $1,286,138.37 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 1933 was 13.000 and the CPI in 2022 was 296.276.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 89 years.

Adjusted for inflation, the $1,286,138.37 nominal end value of the original $100 investment would have a real value of roughly $56,333.19 in 1933 dollars. This means the inflation-adjusted return is 56,333.19% as opposed to the original 1,286,038.37%.

For more information on inflation, see our U.S. inflation calculator for 1933.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1074-month period between 1933 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
19331-11.27%88.7312.90
193320.33%89.0312.70
1933311.24%99.0412.60
1933429.32%128.0812.60
1933517.58%150.5912.60
193368.46%163.3412.70
19337-4.64%155.7613.10
19338-0.48%155.0013.20
19339-9.38%140.4713.20
1933102.80%144.4013.20
1933112.32%147.7513.20
1933126.08%156.7513.20
193417.75%168.8913.20
19342-4.80%160.7913.30
193432.02%164.0313.30
19344-9.83%147.9213.30
193451.70%150.4313.30
19346-4.36%143.8813.40
19347-3.51%138.8213.40
19348-2.01%136.0413.40
193491.21%137.6813.60
1934103.21%142.1013.50
1934111.06%143.6113.50
1934120.40%144.1913.40
19351-2.62%140.4113.60
19352-5.93%132.0813.70
193537.94%142.5713.70
193548.27%154.3513.80
193554.17%160.7913.80
193565.60%169.8013.70
193577.10%181.8613.70
193582.43%186.2913.70
193592.99%191.8513.70
1935109.71%210.4813.70
1935110.29%211.1013.80
1935125.82%223.3913.80
193616.03%236.8613.80
193622.41%242.5713.80
193630.41%243.5813.70
19364-5.02%231.3513.70
193654.57%241.9413.70
193666.23%257.0213.80
193672.30%262.9213.90
193681.44%266.7214.00
193695.55%281.5214.00
1936103.10%290.2614.00
193611-1.40%286.1914.00
1936123.46%296.0914.00
193713.30%305.8714.10
193720.23%306.5714.10
19373-5.62%289.3314.20
19374-4.09%277.5114.30
19375-3.34%268.2414.40
193766.39%285.3914.40
193771.44%289.4914.50
19378-13.76%249.6514.50
19379-14.10%214.4614.60
193710-8.27%196.7314.60
193711-1.02%194.7214.50
1937123.24%201.0314.40
19381-1.80%197.4014.20
19382-6.02%185.5214.10
19383-3.44%179.1314.10
193841.56%181.9214.20
193852.93%187.2614.10
1938620.49%225.6214.10
193871.06%228.0114.10
19388-4.08%218.6914.10
1938911.62%244.1014.10
1938100.47%245.2414.00
193811-2.55%238.9814.00
193812-1.16%236.2114.00
19391-0.46%235.1214.00
193920.27%235.7513.90
19393-12.24%206.8913.90
193944.10%215.3713.80
193952.17%220.0413.80
193962.84%226.2813.80
19397-1.07%223.8713.80
1939811.06%248.6213.80
193991.38%252.0614.10
193910-1.41%248.5114.00
193911-1.97%243.6114.00
193912-0.15%243.2514.00
19401-0.23%242.6913.90
19402-0.15%242.3414.00
194031.42%245.7814.00
19404-13.34%212.9914.00
19405-8.09%195.7514.00
194063.87%203.3214.10
194072.65%208.7114.00
194084.76%218.6414.00
194091.47%221.8514.00
1940102.85%228.1714.00
194011-3.59%219.9814.00
1940120.72%221.5614.10
19411-5.72%208.8814.10
194121.18%211.3414.10
19413-2.55%205.9614.20
19414-1.59%202.6914.30
194154.11%211.0114.40
194165.71%223.0614.70
194170.08%223.2314.70
194180.86%225.1614.90
19419-3.43%217.4215.10
194110-4.08%208.5515.30
194111-5.88%196.2815.40
1941122.62%201.4215.50
19421-2.48%196.4215.70
19422-4.76%187.0715.80
19423-3.45%180.6116.00
194241.87%183.9916.10
194255.75%194.5616.30
194264.38%203.0916.30
194270.05%203.1816.40
194281.66%206.5616.50
194297.97%223.0116.50
1942102.15%227.8216.70
1942111.06%230.2316.80
1942126.50%245.2016.90
194316.43%260.9816.90
194324.01%271.4516.90
194333.79%281.7317.20
194344.36%294.0217.40
194352.18%300.4317.50
194362.47%307.8617.50
19437-4.54%293.8917.40
194382.55%301.3917.30
19439-0.50%299.8817.40
194310-4.21%287.2717.40
1943111.77%292.3517.40
1943123.67%303.0717.40
19441-0.24%302.3317.40
194423.24%312.1317.40
19443-1.31%308.0417.40
194442.20%314.8317.50
194455.14%331.0217.50
194463.02%341.0117.60
19447-1.06%337.4117.70
19448-1.23%333.2817.70
194492.88%342.8917.70
194410-0.28%341.9217.70
1944112.60%350.8117.70
1944123.38%362.6817.80
194513.73%376.2217.80
194520.31%377.4017.80
194532.90%388.3517.80
194544.16%404.5117.80
194552.19%413.3617.90
19456-1.70%406.3518.10
194570.71%409.2218.10
194587.18%438.6018.10
194594.51%458.4018.10
1945103.61%474.9318.10
1945112.02%484.5518.10
1945124.30%505.3818.20
194610.59%508.3418.20
19462-2.68%494.7218.10
194636.77%528.2118.30
194640.52%530.9518.40
19465-0.34%529.1518.50
19466-2.55%515.6718.70
19467-1.62%507.3019.80
19468-14.42%434.1320.20
19469-1.87%426.0120.40
194610-0.01%425.9520.80
1946113.39%440.4121.30
1946120.92%444.4621.50
194714.27%463.4421.50
19472-3.67%446.4221.50
19473-3.30%431.6921.90
19474-1.36%425.8121.90
194753.92%442.5121.90
194766.69%472.1322.00
19477-1.56%464.7722.20
19478-2.17%454.7022.50
194793.03%468.4623.00
194710-0.73%465.0423.00
194711-1.12%459.8223.10
194712-0.86%455.8423.40
19481-4.45%435.5623.70
194821.92%443.9223.50
194838.19%480.2723.40
194845.33%505.8723.80
194854.59%529.0723.90
19486-1.96%518.7224.10
19487-2.49%505.8124.40
19488-0.68%502.3824.50
194893.19%518.4024.50
194810-5.10%491.9624.40
194811-0.16%491.1824.20
1948121.63%499.1824.10
19491-3.33%482.5724.00
194921.49%489.7723.80
194930.41%491.7923.80
19494-0.18%490.9023.90
19495-4.91%466.7823.80
194966.26%496.0123.90
194974.17%516.7023.70
194981.87%526.3723.80
194993.14%542.9123.90
1949101.95%553.4823.70
1949113.24%571.4223.80
1949122.63%586.4523.60
195012.52%601.2423.50
195021.38%609.5123.50
195033.39%630.1523.60
195043.91%654.8223.60
195052.16%668.9923.70
19506-6.72%624.0123.80
195076.64%665.4324.10
195084.11%692.7724.30
195094.72%725.4824.40
1950100.38%728.2124.60
1950110.19%729.6324.70
1950128.01%788.0925.00
195114.31%822.0525.40
19512-1.11%812.9025.70
195131.93%828.5625.80
195140.63%833.7725.80
19515-1.15%824.2225.90
195162.37%843.7325.90
195174.97%885.6225.90
195183.14%913.3925.90
195190.03%913.6526.10
195110-2.25%893.0626.20
1951113.61%925.3326.40
1951123.83%960.8126.50
19521-1.33%948.0126.50
195220.75%955.1226.30
195230.20%957.0526.30
195240.46%961.4626.40
195253.24%992.6526.40
195263.37%1,026.0726.50
195270.88%1,035.1126.70
19528-1.11%1,023.6326.70
19529-1.61%1,007.1426.70
1952103.67%1,044.0826.70
1952114.51%1,091.1626.70
1952120.99%1,101.9526.70
19531-0.77%1,093.4226.60
195320.96%1,103.8926.50
19533-4.47%1,054.5126.60
195341.00%1,065.0926.60
19535-3.11%1,031.9926.70
195361.91%1,051.7426.80
195370.90%1,061.1926.80
19538-4.11%1,017.6126.90
195393.52%1,053.4026.90
1953102.71%1,081.9227.00
1953111.84%1,101.8026.90
1953123.02%1,135.1126.90
195412.68%1,165.4926.90
195422.58%1,195.5926.90
195434.45%1,248.8026.90
195444.42%1,304.0326.80
195451.22%1,319.9826.90
195464.46%1,378.8126.90
195472.39%1,411.8326.90
195482.74%1,450.5126.90
195492.71%1,489.8326.80
1954104.30%1,553.9226.80
1954114.95%1,630.8926.80
1954122.17%1,666.2626.70
195513.70%1,727.9926.70
19552-0.44%1,720.4526.70
195533.81%1,785.9726.70
19554-0.08%1,784.5626.70
195556.15%1,894.2226.70
195567.64%2,039.0226.70
19557-0.30%2,032.9226.80
195584.82%2,130.8326.80
19559-4.72%2,030.1526.90
1955107.07%2,173.6026.90
1955111.24%2,200.5026.90
195512-2.39%2,147.9526.80
195610.95%2,168.3526.80
195627.21%2,324.6026.80
195631.48%2,359.0726.80
19564-2.84%2,292.1126.90
19565-0.26%2,286.1027.00
195665.75%2,417.5327.20
19567-0.28%2,410.6427.40
19568-3.09%2,336.1827.30
19569-0.95%2,313.9027.40
195610-0.71%2,297.4227.50
1956111.81%2,338.9827.50
195612-1.86%2,295.4127.60
19571-4.00%2,203.6927.60
195721.62%2,239.4027.70
195732.64%2,298.6127.80
195744.16%2,394.2427.90
195751.95%2,441.0328.00
195762.32%2,497.7128.10
19577-5.21%2,367.7028.30
19578-3.74%2,279.1628.30
19579-5.90%2,144.7728.30
195710-1.80%2,106.1528.30
1957110.32%2,112.8528.40
1957122.33%2,162.0628.40
195810.70%2,177.2328.60
195822.42%2,229.9028.60
195830.90%2,249.8928.80
195843.56%2,329.9328.90
195852.74%2,393.6628.90
195863.07%2,467.1728.90
195874.05%2,567.1929.00
195882.94%2,642.7628.90
195894.36%2,757.9628.90
1958103.33%2,849.7028.90
1958112.16%2,911.3229.00
1958124.25%3,035.1928.90
19591-1.27%2,996.7929.00
195922.81%3,080.8928.90
195931.94%3,140.5528.90
195941.77%3,195.9929.00
19595-0.61%3,176.6129.00
195964.23%3,310.9129.10
19597-0.32%3,300.3629.20
19598-3.70%3,178.1429.20
195990.18%3,183.7629.30
1959100.67%3,205.0629.40
1959113.46%3,316.0629.40
195912-1.49%3,266.7929.40
19601-3.61%3,148.8829.30
19602-1.08%3,114.9329.40
196031.58%3,164.2829.40
19604-0.62%3,144.5229.50
196053.99%3,269.9329.50
19606-2.20%3,198.1129.60
196071.49%3,245.7929.60
19608-2.72%3,157.4829.60
19609-1.67%3,104.6329.60
1960103.54%3,214.5629.80
1960112.69%3,301.0529.80
1960125.43%3,480.2029.80
196114.37%3,632.4229.80
196123.40%3,755.8229.80
196132.92%3,865.4529.80
196141.26%3,914.2929.80
19615-1.08%3,872.0129.80
19616-0.03%3,870.9229.80
196173.84%4,019.5330.00
19618-0.54%3,997.7529.90
196191.34%4,051.4430.00
1961104.77%4,244.7830.00
1961111.16%4,294.1530.00
196112-3.49%4,144.4130.00
196211.91%4,223.5430.00
196220.34%4,237.9530.10
19623-2.94%4,113.1430.10
19624-7.19%3,817.6130.20
19625-11.41%3,381.9130.20
196262.72%3,473.8130.20
196273.02%3,578.8330.30
19628-0.59%3,557.5930.30
19629-2.86%3,455.9830.40
1962107.20%3,704.8430.40
1962114.62%3,876.1430.40
1962124.15%4,036.8730.40
196311.60%4,101.2830.40
19632-0.11%4,096.8430.40
196334.98%4,300.7930.50
196342.27%4,398.4030.50
196350.22%4,407.9330.50
19636-1.22%4,354.0730.60
196373.03%4,486.0430.70
196382.89%4,615.8530.70
196390.50%4,638.9330.70
196310-0.31%4,624.7130.80
1963112.39%4,735.3930.80
1963123.33%4,893.0930.90
196411.48%4,965.5030.90
196422.07%5,068.3430.90
196431.69%5,154.1530.90
196441.22%5,217.0530.90
19645-0.35%5,198.7630.90
196463.96%5,404.6831.00
19647-1.23%5,338.4431.10
196481.97%5,443.3631.00
196491.97%5,550.6131.10
1964100.94%5,602.6131.10
196411-1.49%5,519.1131.20
1964122.82%5,674.8031.20
196510.98%5,730.1331.20
196520.34%5,749.3631.20
196531.56%5,838.9131.30
196541.73%5,940.0831.40
19655-4.51%5,672.3431.40
196560.10%5,678.1731.60
196572.12%5,798.4731.60
196583.60%6,006.9931.60
196592.50%6,156.9831.60
1965101.08%6,223.2231.70
196511-0.21%6,210.0531.70
1965121.98%6,333.0431.80
19661-0.43%6,305.7831.80
19662-3.86%6,062.2332.00
196633.32%6,263.5632.10
19664-5.01%5,949.9032.30
19665-0.56%5,916.6132.30
196660.02%5,917.7032.40
19667-5.77%5,576.2832.50
19668-3.22%5,396.4632.70
19669-0.56%5,366.0032.70
1966105.32%5,651.2632.90
1966110.72%5,691.7132.90
1966124.13%5,926.7932.90
196713.73%6,147.8632.90
196722.63%6,309.7832.90
196731.99%6,435.5033.00
196742.06%6,567.9233.10
19675-0.99%6,502.7833.20
196761.99%6,632.3433.30
196771.85%6,755.1533.40
196781.65%6,866.8833.50
196790.10%6,873.5733.60
196710-2.88%6,675.4933.70
1967113.11%6,883.2133.80
196712-0.02%6,882.0133.90
19681-4.26%6,589.0434.10
19682-1.56%6,486.3034.20
196837.66%6,983.2734.30
196842.56%7,161.8834.40
196852.94%7,372.4934.50
196860.05%7,376.0934.70
19687-1.93%7,233.4434.90
196883.51%7,487.1735.00
196892.72%7,690.6135.10
1968101.79%7,827.9535.30
1968111.29%7,928.5635.40
196812-3.99%7,612.6035.50
19691-0.24%7,594.4335.60
19692-1.91%7,449.0935.80
196932.27%7,618.5036.10
196943.51%7,886.1836.30
19695-4.97%7,494.1336.40
19696-4.21%7,178.9836.60
19697-0.28%7,158.6236.80
196980.63%7,203.6137.00
196991.35%7,300.6037.10
1969101.00%7,373.4237.30
196911-5.03%7,002.7337.50
196912-0.59%6,961.4837.70
19701-3.20%6,738.9837.80
197022.01%6,874.5938.00
19703-2.75%6,685.7038.20
19704-11.20%5,936.9638.50
19705-0.27%5,920.9438.60
197060.52%5,951.8838.80
197073.26%6,145.6639.00
197086.32%6,534.1539.00
197092.49%6,696.8139.20
1970100.21%6,710.6639.40
1970117.16%7,191.0339.60
1970124.11%7,486.6339.80
197114.15%7,797.4139.80
197122.83%8,018.2239.90
197133.67%8,312.8040.00
19714-1.11%8,220.7040.10
19715-1.60%8,089.5140.30
19716-0.46%8,052.0640.60
19717-1.52%7,929.9040.70
197182.49%8,127.0740.80
19719-1.86%7,975.6140.80
197110-4.37%7,626.9540.90
1971117.16%8,173.3240.90
1971124.42%8,534.7841.10
197212.09%8,712.9041.10
197222.62%8,941.1541.30
197231.26%9,053.7141.40
19724-0.78%8,983.4641.50
197250.52%9,029.8241.60
19726-0.50%8,984.3341.70
197273.78%9,324.2641.90
19728-1.21%9,211.4042.00
197290.42%9,249.8542.10
1972105.25%9,735.8642.30
1972112.31%9,960.9042.40
1972120.99%10,059.4542.50
19731-3.33%9,724.9642.60
19732-1.35%9,594.1342.90
19733-1.63%9,437.4343.30
19734-2.57%9,194.9143.60
19735-1.99%9,011.9543.90
197361.21%9,121.0144.20
19737-1.64%8,971.8544.30
197382.00%9,150.8645.10
197394.24%9,538.4345.20
197310-6.85%8,884.7745.60
197311-6.81%8,280.1445.90
1973121.70%8,420.9446.20
19741-2.47%8,212.7046.60
197424.57%8,588.4047.20
19743-4.82%8,174.7347.80
19744-2.71%7,953.5548.00
197450.46%7,989.9148.60
19746-11.35%7,083.3149.00
19747-3.76%6,816.6449.40
19748-10.01%6,134.0550.00
197492.38%6,279.8550.60
1974103.74%6,514.9351.10
197411-6.09%6,118.0651.50
1974128.63%6,646.2151.90
1975110.81%7,364.5052.10
197524.97%7,730.7952.50
197531.49%7,845.7552.70
197546.71%8,372.4052.90
197552.89%8,614.7553.20
197560.43%8,651.9753.60
19757-7.00%8,046.6654.20
19758-0.85%7,978.0454.30
197594.97%8,374.6554.60
1975102.04%8,545.6454.90
197511-1.18%8,444.8355.30
1975129.55%9,250.9155.50
197614.18%9,637.4355.60
197620.80%9,714.7655.80
197631.10%9,821.1855.90
19764-0.38%9,783.5456.10
197650.90%9,871.6556.50
197662.67%10,134.7656.80
19767-0.56%10,077.9557.10
197682.44%10,323.6357.40
19769-3.11%10,002.7557.60
197610-0.37%9,966.0857.90
1976113.79%10,343.4558.00
197612-0.54%10,287.8858.20
19771-2.37%10,044.2058.50
19772-0.05%10,038.7559.10
19773-1.19%9,918.9259.50
197740.06%9,925.3260.00
197750.90%10,014.6360.30
197761.28%10,143.0660.70
19777-2.08%9,932.2261.00
19778-1.18%9,815.4961.20
19779-2.20%9,599.7661.40
1977100.98%9,693.9461.60
197711-0.08%9,686.1761.90
197712-3.39%9,357.7862.10
19781-0.97%9,266.8262.50
197820.27%9,291.4462.90
197834.83%9,740.2263.40
197845.50%10,276.3563.90
197850.67%10,345.5764.50
19786-0.06%10,339.1265.20
197877.33%11,096.7965.70
197880.40%11,141.1466.00
19789-2.77%10,832.1466.50
197810-5.44%10,243.1367.10
1978111.92%10,440.0867.40
1978124.19%10,877.0367.70
19791-1.06%10,762.0768.30
197922.34%11,014.0369.10
197932.43%11,281.7769.80
19794-1.89%11,068.2070.60
197952.42%11,335.7971.50
197961.42%11,496.8572.30
197975.01%12,073.3473.10
197981.54%12,259.3373.80
19799-3.35%11,848.3374.60
197910-0.32%11,810.1375.20
1979114.40%12,330.2575.90
1979123.31%12,738.6876.70
198014.40%13,298.6577.80
19802-8.78%12,131.3278.90
19803-1.16%11,990.3580.10
198045.04%12,594.2081.00
198056.86%13,458.5081.80
198064.97%14,127.3182.70
198073.50%14,622.4382.70
198082.84%15,037.1083.30
198093.32%15,537.0484.00
1980104.61%16,254.0384.80
198011-1.24%16,051.7185.50
1980120.01%16,053.3186.30
19811-3.07%15,560.4487.00
198124.14%16,205.1687.90
198131.29%16,414.8288.50
19814-1.62%16,149.3589.10
198150.86%16,287.8489.80
19816-2.02%15,959.4490.60
198170.80%16,087.5391.60
19818-8.30%14,751.8392.30
198191.73%15,006.6393.20
1981103.04%15,463.3993.40
1981111.18%15,645.7693.70
198112-4.80%14,894.1294.00
19821-1.91%14,609.0694.30
19822-2.74%14,208.1194.60
198235.47%14,985.2094.50
198240.57%15,070.5694.90
19825-5.27%14,276.2595.80
198260.24%14,311.0697.00
198270.79%14,424.6997.50
1982812.10%16,169.5597.70
198298.88%17,605.6397.90
1982104.50%18,397.8798.20
1982111.36%18,647.2598.00
1982123.93%19,379.3097.60
198312.13%19,792.0897.80
198323.87%20,557.1797.90
198334.20%21,420.0397.90
198344.42%22,367.6698.60
198351.75%22,759.8799.20
198360.71%22,921.0499.50
19837-2.41%22,369.2999.90
198383.31%23,110.57100.20
198390.65%23,260.31100.70
198310-1.14%22,994.81101.00
198311-0.13%22,965.35101.20
1983121.58%23,327.27101.30
19841-5.11%22,134.74101.90
198420.44%22,232.65102.40
198430.51%22,345.42102.60
19844-0.25%22,288.98103.10
19845-1.85%21,877.01103.40
19846-0.91%21,678.27103.70
198479.21%23,674.09104.10
198481.41%24,007.18104.50
19849-0.41%23,908.17105.00
1984101.29%24,215.61105.30
198411-0.71%24,044.27105.30
1984124.70%25,173.77105.30
198515.79%26,630.66105.50
19852-0.48%26,503.28106.00
198531.02%26,774.87106.40
198542.74%27,507.33106.90
198552.51%28,198.03107.30
198562.25%28,831.70107.60
19857-1.85%28,299.67107.80
19858-1.88%27,766.22108.00
198591.50%28,181.48108.30
1985106.42%29,990.88108.70
1985115.29%31,578.75109.00
1985120.75%31,816.13109.30
198615.70%33,628.78109.60
198626.18%35,707.97109.30
198632.74%36,686.88108.80
198640.49%36,867.31108.60
198653.13%38,022.45108.90
19866-1.80%37,336.56109.50
198672.28%38,188.15109.50
19868-2.46%37,250.16109.70
19869-0.09%37,216.69110.20
1986103.53%38,531.53110.30
1986111.71%39,190.01110.40
1986126.67%41,805.31110.50
198716.46%44,506.72111.20
198724.38%46,454.51111.60
19873-0.86%46,056.67112.10
198740.17%46,136.27112.70
198754.50%48,211.68113.10
198763.12%49,716.90113.50
198776.45%52,925.63113.80
19878-3.03%51,321.76114.40
19879-11.85%45,238.14115.00
198710-12.30%39,672.30115.30
198711-1.33%39,142.80115.40
1987124.25%40,805.01115.40
198813.33%42,163.24115.70
198823.23%43,525.98116.00
19883-0.89%43,140.33116.50
19884-2.19%42,196.30117.10
198856.00%44,727.32117.50
19886-0.31%44,590.04118.00
19887-1.72%43,823.77118.50
198881.93%44,668.33119.00
198893.80%46,366.45119.80
198810-2.02%45,429.73120.20
1988112.33%46,486.40120.30
1988123.51%48,119.31120.50
198913.30%49,707.18121.10
19892-0.16%49,626.82121.60
198933.56%51,395.92122.30
198944.12%53,511.01123.10
198953.39%55,326.44123.80
198962.80%56,875.68124.10
198974.69%59,543.58124.40
198980.46%59,814.82124.60
198990.29%59,986.04125.00
198910-1.81%58,898.17125.60
1989112.74%60,510.04125.90
198912-2.21%59,172.02126.10
19901-2.53%57,676.64127.40
199022.71%59,238.04128.00
199030.20%59,354.14128.70
199043.85%61,639.82128.90
199053.17%63,593.78129.20
199060.17%63,701.71129.90
19907-7.86%58,693.97130.40
19908-4.34%56,146.03131.60
19909-2.32%54,845.82132.70
1990102.98%56,482.32133.50
1990114.59%59,072.94133.80
199012-0.69%58,668.19133.80
1991111.61%65,477.67134.60
199123.04%67,471.22134.80
199132.26%68,995.28135.00
19914-0.18%68,871.86135.20
199150.35%69,110.85135.60
199160.78%69,650.25136.00
199172.68%71,516.14136.20
19918-0.30%71,299.37136.60
199190.18%71,428.88137.20
1991100.02%71,440.17137.40
1991110.94%72,108.23137.80
1991127.36%77,413.97137.90
19921-0.60%76,948.84138.10
19922-1.01%76,169.82138.60
199230.26%76,371.14139.30
199242.07%77,950.76139.50
19925-1.33%76,914.70139.70
199261.91%78,385.42140.20
199270.94%79,123.59140.50
199280.38%79,422.82140.90
19929-1.18%78,484.00141.30
1992102.76%80,647.73141.80
1992113.27%83,285.88142.00
1992120.14%83,404.89141.90
199311.72%84,842.99142.60
199322.15%86,667.25143.10
19933-1.34%85,504.39143.60
199340.72%86,124.06144.00
199350.87%86,869.19144.20
199360.06%86,922.19144.40
199371.76%88,454.16144.40
199381.35%89,652.69144.80
199391.24%90,766.09145.10
1993100.01%90,772.94145.70
1993110.89%91,578.26145.80
1993121.74%93,167.95145.80
19941-0.08%93,097.42146.20
19942-1.42%91,771.88146.70
19943-3.35%88,700.85147.20
199441.06%89,639.52147.40
199451.11%90,632.81147.50
19946-0.52%90,162.54148.00
199473.08%92,941.42148.40
199480.82%93,701.18149.00
19949-0.44%93,285.14149.40
199410-0.37%92,940.09149.50
199411-1.03%91,986.80149.70
1994122.45%94,241.56149.70
199513.82%97,840.73150.30
199522.56%100,343.66150.90
199533.22%103,570.27151.40
199543.35%107,037.55151.90
199553.18%110,439.66152.20
199563.55%114,357.48152.50
199570.51%114,944.28152.50
199583.72%119,217.52152.90
199590.91%120,305.46153.20
1995102.36%123,142.73153.70
1995113.39%127,316.20153.60
1995120.16%127,523.19153.50
199615.90%135,052.66154.40
19962-0.20%134,781.62154.90
199630.20%135,047.19155.70
199642.35%138,227.32156.30
199651.28%139,994.69156.60
19966-3.48%135,127.68156.70
199673.08%139,283.87157.00
199682.02%142,102.60157.30
199694.12%147,956.51157.80
1996105.05%155,431.40158.30
1996111.20%157,293.82158.60
1996123.26%162,417.73158.60
199714.36%169,501.03159.10
19972-0.62%168,443.88159.60
19973-3.41%162,707.95160.00
199749.22%177,706.09160.20
199755.34%187,189.95160.10
199765.74%197,927.03160.30
199770.35%198,615.40160.50
199781.19%200,982.91160.80
199791.65%204,289.83161.20
199710-1.15%201,936.33161.60
1997112.63%207,256.57161.50
1997120.24%207,747.95161.30
199816.40%221,048.31161.60
199825.31%232,792.32161.90
199833.41%240,720.47162.20
19984-0.22%240,186.42162.50
199850.12%240,466.13162.80
199864.47%251,209.36163.00
19987-6.97%233,697.53163.20
19988-4.90%222,249.98163.40
199891.29%225,118.90163.60
19981010.97%249,824.32164.00
1998114.10%260,077.37164.00
1998125.05%273,205.26163.90
19991-0.07%273,023.01164.30
199922.92%281,004.86164.50
199934.25%292,947.63165.00
19994-0.10%292,658.10166.20
19995-0.61%290,867.72166.20
199964.52%304,021.88166.20
19997-3.77%292,546.92166.70
19998-0.60%290,797.45167.10
19999-1.27%287,097.13167.90
1999107.11%307,498.11168.20
1999112.81%316,134.90168.30
199912-0.12%315,758.92168.30
20001-2.48%307,934.17168.80
200023.94%320,069.71169.80
200031.42%324,629.63171.20
20004-2.84%315,414.06171.30
200053.16%325,392.13171.50
200060.85%328,159.07172.40
200070.94%331,242.82172.80
20008-1.08%327,666.55172.80
20009-5.21%310,581.27173.70
200010-0.77%308,181.83174.00
200011-3.32%297,949.96174.10
2000120.46%299,305.66174.00
20011-2.14%292,911.72175.10
20012-9.08%266,315.62175.80
200130.45%267,510.56176.20
200146.88%285,913.50176.90
20015-2.39%279,084.02177.70
20016-2.66%271,659.75178.00
20017-2.05%266,102.03177.50
20018-11.25%236,172.67177.50
200193.18%243,692.48178.30
2001105.05%256,006.62177.70
2001111.47%259,759.81177.40
200112-0.30%258,986.53176.70
20021-3.35%250,303.31177.10
200224.95%262,681.48177.80
20023-3.51%253,449.72178.80
20024-2.82%246,301.50179.80
20025-5.92%231,718.09179.80
20026-10.76%206,788.70179.90
200271.14%209,143.59180.10
20028-4.76%199,193.10180.70
20029-1.37%196,470.05181.00
2002106.63%209,487.32181.30
200211-1.04%207,319.00181.30
200212-0.22%206,857.68180.90
20031-6.41%193,588.10181.70
200321.31%196,120.03183.10
200335.29%206,486.66184.20
200345.31%217,455.67183.80
200355.70%229,859.74183.50
200360.60%231,229.48183.70
20037-0.17%230,844.89183.90
200383.16%238,142.31184.60
200392.03%242,971.43185.20
2003101.21%245,912.81185.00
2003113.06%253,447.11184.50
2003124.93%265,954.63184.30
200411.09%268,844.66185.20
20042-1.57%264,636.71186.20
200430.97%267,198.76187.40
20044-2.56%260,347.10188.00
200452.86%267,786.98189.10
20046-2.24%261,791.82189.70
20047-1.39%258,159.28189.40
200482.78%265,342.88189.50
200490.10%265,615.11189.90
2004104.77%278,295.30190.90
2004112.73%285,885.66191.00
200412-1.35%282,028.43190.30
200511.68%286,769.91190.70
20052-0.26%286,036.96191.80
20053-2.41%279,146.56193.30
200541.34%282,875.60194.60
200552.18%289,044.26194.40
200561.81%294,269.57194.50
200570.31%295,181.86195.40
200580.28%296,007.46196.40
20059-2.62%288,239.57198.80
2005103.96%299,658.31199.20
2005112.14%306,083.37197.60
2005121.47%310,572.91196.80
20061-0.02%310,521.23198.30
200621.49%315,136.01198.70
200630.80%317,651.84199.80
20064-0.79%315,153.07201.50
20065-2.71%306,625.68202.50
200660.72%308,833.51202.90
200672.29%315,911.23203.50
200682.53%323,907.50203.90
200693.62%335,619.71202.90
2006102.00%342,337.62201.80
2006112.15%349,691.94201.50
2006120.69%352,114.69201.80
200711.60%357,734.61202.42
20072-2.47%348,884.65203.50
200734.18%363,468.93205.35
200743.39%375,796.90206.69
200750.34%377,093.03207.95
200760.57%379,259.88208.35
20077-4.20%363,326.77208.30
200783.07%374,498.13207.92
200792.99%385,701.74208.49
200710-4.81%367,163.72208.94
2007111.24%371,710.02210.18
200712-6.64%347,046.32210.04
20081-1.56%341,618.64211.08
20082-2.63%332,645.56211.69
200834.24%346,762.38213.53
200842.56%355,648.53214.82
20085-4.25%340,545.62216.63
20086-6.08%319,845.65218.82
200872.11%326,596.11219.96
20088-4.85%310,764.24219.09
20089-20.19%248,009.80218.78
200810-8.61%226,667.70216.57
200811-0.35%225,871.60212.43
200812-1.10%223,397.05210.23
20091-6.70%208,423.85211.14
20092-5.69%196,569.87212.19
2009312.32%220,790.72212.71
200946.66%235,494.99213.24
200952.87%242,251.01213.86
200961.28%245,346.12215.69
200978.12%265,270.05215.35
200983.65%274,953.31215.83
200992.40%281,560.74215.97
2009102.09%287,457.54216.18
2009112.23%293,855.94216.33
2009121.36%297,843.47215.95
20101-2.90%289,210.55216.69
201025.94%306,398.44216.74
201034.09%318,923.79217.63
20104-5.88%300,163.43218.01
20105-3.54%289,526.95218.18
20106-0.16%289,066.39217.97
201070.86%291,562.80218.01
201083.37%301,391.83218.31
201094.58%315,187.85218.44
2010102.49%323,038.91218.71
2010113.71%335,035.72218.80
2010123.46%346,635.31219.18
201113.15%357,557.31220.22
20112-1.11%353,579.63221.31
201132.22%361,432.57223.47
201140.66%363,815.26224.91
20115-3.66%350,490.16225.96
201163.10%361,361.44225.72
20117-10.40%323,777.51225.92
20118-0.79%321,222.12226.55
201193.02%330,919.51226.89
2011101.77%336,767.26226.42
2011111.55%342,003.15226.23
2011124.78%358,359.65225.67
201214.16%373,276.76226.67
201222.88%384,041.46227.66
20123-0.04%383,894.71229.39
20124-3.09%372,028.71230.09
20125-1.15%367,741.41229.82
201262.92%378,483.46229.48
201273.39%391,305.35229.10
201283.02%403,127.33230.38
20129-0.22%402,252.00231.41
201210-2.84%390,838.12231.32
2012112.18%399,340.94230.22
2012124.27%416,387.86229.60
201312.33%426,102.28230.28
201322.72%437,702.72232.17
201331.45%444,066.00232.77
201344.57%464,378.78232.53
20135-1.12%459,188.07232.95
201363.25%474,132.24233.50
201370.25%475,329.56233.60
201381.19%480,997.70233.88
201392.12%491,183.07234.15
2013103.86%510,142.71233.55
2013111.52%517,905.35233.07
2013120.97%522,917.68233.05
20141-0.13%522,237.70233.92
201422.72%536,454.42234.78
201430.20%537,536.58236.29
201441.53%545,771.82237.07
201453.20%563,216.42237.90
201461.50%571,641.14238.34
20147-0.43%569,200.51238.25
201481.78%579,321.09237.85
20149-2.65%563,988.87238.03
2014105.71%596,168.12237.43
2014110.63%599,947.15236.15
201412-1.11%593,287.47234.81
201512.83%610,062.06233.71
201520.06%610,399.82234.72
201530.88%615,761.63236.12
201540.98%621,789.34236.60
20155-0.44%619,081.45237.81
20156-0.08%618,588.47238.64
20157-2.42%603,591.43238.65
20158-4.51%576,386.99238.32
201594.32%601,270.30237.95
2015102.93%618,902.37237.84
201511-1.10%612,076.07237.34
201512-6.42%572,783.10236.53
20161-0.55%569,633.31236.92
201626.36%605,877.53237.11
201632.83%623,031.50238.13
20164-0.30%621,135.21239.26
201651.07%627,759.55240.23
201663.30%648,459.54241.02
201671.20%656,236.24240.63
20168-0.44%653,357.52240.85
20169-0.51%650,051.65241.43
2016101.20%657,859.82241.73
2016113.95%683,818.73241.35
2016121.44%693,649.54241.43
201712.58%711,521.04242.84
201721.75%723,967.37243.60
20173-0.15%722,852.43243.80
201741.69%735,085.80244.52
201751.78%748,144.07244.73
201760.99%755,534.86244.96
201770.25%757,407.12244.79
201781.65%769,929.05245.52
201792.73%790,985.06246.82
2017101.59%803,558.32246.66
2017112.88%826,728.81246.67
2017124.86%866,923.52246.52
20181-2.89%841,898.16247.87
201820.06%842,441.84248.99
20183-1.66%828,423.85249.55
201841.96%844,674.38250.55
201852.11%862,522.10251.59
201861.58%876,156.35251.99
201872.45%897,629.23252.01
201881.68%912,707.14252.15
20189-3.85%877,577.16252.44
201810-2.08%859,357.71252.89
201811-5.56%811,555.84252.04
2018121.74%825,641.49251.23
201915.83%873,767.33251.71
201921.95%890,788.51252.78
201933.72%923,954.52254.20
20194-1.53%909,801.49255.55
201951.40%922,581.92256.09
201963.83%957,892.31256.14
20197-3.13%927,867.99256.57
201983.09%956,494.83256.56
201990.01%956,588.60256.76
2019104.43%999,000.79257.35
2019112.47%1,023,669.31257.21
2019123.35%1,057,925.36256.97
202010.12%1,059,216.84257.97
20202-18.92%858,837.28258.68
202034.32%895,927.15258.12
202045.89%948,673.66256.39
202056.51%1,010,415.92256.39
202063.48%1,045,542.37257.80
202075.89%1,107,161.46259.10
20208-0.63%1,100,219.53259.92
202091.73%1,119,209.33260.28
2020103.95%1,163,464.17260.39
2020114.26%1,213,028.68260.23
2020122.80%1,246,936.47260.47
202112.49%1,278,004.25261.58
202120.82%1,288,501.24263.01
202136.02%1,366,088.16264.88
202140.76%1,376,473.59267.05
202151.81%1,401,393.58269.20
202163.07%1,444,391.16271.70
202172.19%1,475,953.45273.00
20218-0.08%1,474,706.28273.57
202190.45%1,481,374.55274.31
2021104.74%1,551,661.98276.59
2021110.27%1,555,780.15277.95
202112-2.05%1,523,856.27278.80
20221-2.90%1,479,625.28281.15
20222-0.89%1,466,418.39283.72
202230.12%1,468,153.19287.50
20224-7.87%1,352,569.45289.11
20225-3.37%1,306,996.18292.30
20226-1.60%1,286,138.37296.31
Click to show 1062 more rows

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 1933. This would result in a final amount of $947,829.61, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $1,286,138.37).

YearMonthContribution ($)Amount ($)
193314.163.67
193324.167.83
193334.1613.31
193344.1622.56
193354.1631.40
193364.1638.56
193374.1640.72
193384.1644.65
193394.1644.22
1933104.1649.71
1933114.1655.11
1933124.1662.86
193414.1672.20
193424.1672.68
193434.1678.38
193444.1674.41
193454.1679.90
193464.1680.38
193474.1681.55
193484.1683.97
193494.1689.18
1934104.1696.32
1934114.16101.53
1934124.32106.26
19351-103.48
19352-97.34
19353-105.07
19354-113.75
19355-118.50
19356-125.13
19357-134.02
19358-137.29
19359-141.39
193510-155.11
193511-155.57
193512-164.63
19361-174.56
19362-178.77
19363-179.51
19364-170.50
19365-178.30
19366-189.41
19367-193.76
19368-196.56
19369-207.47
193610-213.91
193611-210.91
193612-218.21
19371-225.41
19372-225.93
19373-213.22
19374-204.51
19375-197.68
19376-210.32
19377-213.34
19378-183.98
19379-158.04
193710-144.98
193711-143.50
193712-148.15
19381-145.48
19382-136.72
19383-132.01
19384-134.07
19385-138.00
19386-166.27
19387-168.03
19388-161.17
19389-179.89
193810-180.73
193811-176.12
193812-174.07
19391-173.28
19392-173.74
19393-152.47
19394-158.72
19395-162.16
19396-166.76
19397-164.98
19398-183.22
19399-185.76
193910-183.14
193911-179.53
193912-179.26
19401-178.85
19402-178.59
19403-181.13
19404-156.96
19405-144.26
19406-149.84
19407-153.81
19408-161.13
19409-163.49
194010-168.15
194011-162.11
194012-163.28
19411-153.94
19412-155.75
19413-151.78
19414-149.37
19415-155.51
19416-164.39
19417-164.51
19418-165.93
19419-160.23
194110-153.69
194111-144.65
194112-148.43
19421-144.75
19422-137.86
19423-133.10
19424-135.59
19425-143.38
19426-149.67
19427-149.73
19428-152.22
19429-164.35
194210-167.89
194211-169.67
194212-180.70
19431-192.33
19432-200.05
19433-207.62
19434-216.68
19435-221.41
19436-226.88
19437-216.58
19438-222.11
19439-221.00
194310-211.70
194311-215.45
194312-223.35
19441-222.81
19442-230.02
19443-227.01
19444-232.02
19445-243.95
19446-251.31
19447-248.66
19448-245.61
19449-252.70
194410-251.98
194411-258.53
194412-267.28
19451-277.26
19452-278.13
19453-286.20
19454-298.11
19455-304.63
19456-299.46
19457-301.58
19458-323.23
19459-337.82
194510-350.00
194511-357.09
194512-372.44
19461-374.62
19462-364.59
19463-389.27
19464-391.29
19465-389.96
19466-380.03
19467-373.86
19468-319.94
19469-313.95
194610-313.91
194611-324.56
194612-327.55
19471-341.53
19472-328.99
19473-318.14
19474-313.81
19475-326.11
19476-347.94
19477-342.51
19478-335.09
19479-345.23
194710-342.71
194711-338.87
194712-335.94
19481-320.99
19482-327.15
19483-353.94
19484-372.80
19485-389.90
19486-382.27
19487-372.76
19488-370.23
19489-382.04
194810-362.55
194811-361.98
194812-367.88
19491-355.63
19492-360.94
19493-362.43
19494-361.77
19495-344.00
19496-365.54
19497-380.79
19498-387.91
19499-400.10
194910-407.89
194911-421.11
194912-432.19
19501-443.09
19502-449.18
19503-464.39
19504-482.57
19505-493.02
19506-459.87
19507-490.39
19508-510.54
19509-534.65
195010-536.66
195011-537.70
195012-580.79
19511-605.81
19512-599.07
19513-610.61
19514-614.45
19515-607.42
19516-621.79
19517-652.66
19518-673.13
19519-673.32
195110-658.15
195111-681.93
195112-708.07
19521-698.64
19522-703.88
19523-705.31
19524-708.55
19525-731.54
19526-756.17
19527-762.83
19528-754.37
19529-742.22
195210-769.44
195211-804.14
195212-812.09
19531-805.81
19532-813.52
19533-777.13
19534-784.92
19535-760.53
19536-775.09
19537-782.05
19538-749.94
19539-776.31
195310-797.33
195311-811.98
195312-836.53
19541-858.92
19542-881.10
19543-920.31
19544-961.01
19545-972.77
19546-1,016.13
19547-1,040.46
19548-1,068.96
19549-1,097.94
195410-1,145.17
195411-1,201.90
195412-1,227.96
19551-1,273.45
19552-1,267.90
19553-1,316.18
19554-1,315.14
19555-1,395.96
19556-1,502.67
19557-1,498.17
19558-1,570.33
19559-1,496.14
195510-1,601.85
195511-1,621.67
195512-1,582.95
19561-1,597.98
19562-1,713.13
19563-1,738.53
19564-1,689.19
19565-1,684.76
19566-1,781.61
19567-1,776.54
19568-1,721.67
19569-1,705.25
195610-1,693.10
195611-1,723.73
195612-1,691.62
19571-1,624.03
19572-1,650.35
19573-1,693.98
19574-1,764.45
19575-1,798.93
19576-1,840.71
19577-1,744.90
19578-1,679.65
19579-1,580.60
195710-1,552.15
195711-1,557.08
195712-1,593.34
19581-1,604.53
19582-1,643.34
19583-1,658.07
19584-1,717.06
19585-1,764.03
19586-1,818.20
19587-1,891.91
19588-1,947.60
19589-2,032.50
195810-2,100.11
195811-2,145.52
195812-2,236.81
19591-2,208.51
19592-2,270.48
19593-2,314.45
19594-2,355.31
19595-2,341.03
19596-2,440.00
19597-2,432.23
19598-2,342.16
19599-2,346.30
195910-2,362.00
195911-2,443.79
195912-2,407.49
19601-2,320.59
19602-2,295.57
19603-2,331.94
19604-2,317.38
19605-2,409.80
19606-2,356.87
19607-2,392.01
19608-2,326.93
19609-2,287.98
196010-2,368.99
196011-2,432.74
196012-2,564.76
19611-2,676.94
19612-2,767.88
19613-2,848.68
19614-2,884.66
19615-2,853.50
19616-2,852.71
19617-2,962.22
19618-2,946.17
19619-2,985.74
196110-3,128.22
196111-3,164.61
196112-3,054.25
19621-3,112.57
19622-3,123.19
19623-3,031.21
19624-2,813.42
19625-2,492.33
19626-2,560.05
19627-2,637.44
19628-2,621.80
19629-2,546.91
196210-2,730.31
196211-2,856.55
196212-2,975.00
19631-3,022.47
19632-3,019.20
19633-3,169.50
19634-3,241.43
19635-3,248.46
19636-3,208.76
19637-3,306.02
19638-3,401.69
19639-3,418.69
196310-3,408.21
196311-3,489.78
196312-3,606.00
19641-3,659.36
19642-3,735.15
19643-3,798.39
19644-3,844.75
19645-3,831.26
19646-3,983.02
19647-3,934.20
19648-4,011.53
19649-4,090.56
196410-4,128.89
196411-4,067.35
196412-4,182.09
19651-4,222.86
19652-4,237.03
19653-4,303.03
19654-4,377.59
19655-4,180.27
19656-4,184.57
19657-4,273.23
19658-4,426.90
19659-4,537.43
196510-4,586.25
196511-4,576.55
196512-4,667.18
19661-4,647.09
19662-4,467.61
19663-4,615.98
19664-4,384.83
19665-4,360.29
19666-4,361.09
19667-4,109.48
19668-3,976.96
19669-3,954.51
196610-4,164.74
196611-4,194.55
196612-4,367.80
19671-4,530.71
19672-4,650.04
19673-4,742.69
19674-4,840.28
19675-4,792.27
19676-4,887.76
19677-4,978.26
19678-5,060.60
19679-5,065.53
196710-4,919.55
196711-5,072.64
196712-5,071.75
19681-4,855.84
19682-4,780.13
19683-5,146.37
19684-5,278.00
19685-5,433.21
19686-5,435.87
19687-5,330.74
19688-5,517.73
19689-5,667.65
196810-5,768.86
196811-5,843.01
196812-5,610.16
19691-5,596.78
19692-5,489.67
19693-5,614.52
19694-5,811.78
19695-5,522.86
19696-5,290.60
19697-5,275.60
19698-5,308.76
19699-5,380.24
196910-5,433.90
196911-5,160.71
196912-5,130.32
19701-4,966.35
19702-5,066.28
19703-4,927.08
19704-4,375.29
19705-4,363.48
19706-4,386.28
19707-4,529.09
19708-4,815.39
19709-4,935.27
197010-4,945.47
197011-5,299.49
197012-5,517.33
19711-5,746.36
19712-5,909.09
19713-6,126.18
19714-6,058.31
19715-5,961.63
19716-5,934.03
19717-5,844.00
19718-5,989.31
19719-5,877.69
197110-5,620.74
197111-6,023.39
197112-6,289.78
19721-6,421.04
19722-6,589.25
19723-6,672.20
19724-6,620.43
19725-6,654.60
19726-6,621.07
19727-6,871.59
19728-6,788.41
19729-6,816.75
197210-7,174.91
197211-7,340.76
197212-7,413.39
19731-7,166.89
19732-7,070.47
19733-6,954.98
19734-6,776.26
19735-6,641.42
19736-6,721.80
19737-6,611.87
19738-6,743.80
19739-7,029.42
197310-6,547.70
197311-6,102.11
197312-6,205.87
19741-6,052.41
19742-6,329.29
19743-6,024.43
19744-5,861.43
19745-5,888.23
19746-5,220.10
19747-5,023.58
19748-4,520.54
19749-4,627.99
197410-4,801.23
197411-4,508.75
197412-4,897.98
19751-5,427.33
19752-5,697.26
19753-5,781.98
19754-6,170.11
19755-6,348.71
19756-6,376.14
19757-5,930.05
19758-5,879.48
19759-6,171.77
197510-6,297.77
197511-6,223.48
197512-6,817.53
19761-7,102.38
19762-7,159.37
19763-7,237.80
19764-7,210.06
19765-7,274.99
19766-7,468.89
19767-7,427.02
19768-7,608.08
19769-7,371.61
197610-7,344.58
197611-7,622.68
197612-7,581.73
19771-7,402.15
19772-7,398.14
19773-7,309.83
19774-7,314.54
19775-7,380.36
19776-7,475.01
19777-7,319.63
19778-7,233.60
19779-7,074.61
197710-7,144.03
197711-7,138.30
197712-6,896.29
19781-6,829.26
19782-6,847.40
19783-7,178.13
19784-7,573.23
19785-7,624.24
19786-7,619.50
19787-8,177.86
19788-8,210.55
19789-7,982.83
197810-7,548.75
197811-7,693.90
197812-8,015.91
19791-7,931.19
19792-8,116.87
19793-8,314.18
19794-8,156.80
19795-8,354.00
19796-8,472.69
19797-8,897.54
19798-9,034.61
19799-8,731.72
197910-8,703.57
197911-9,086.87
197912-9,387.87
19801-9,800.55
19802-8,940.27
19803-8,836.38
19804-9,281.39
19805-9,918.35
19806-10,411.23
19807-10,776.11
19808-11,081.70
19809-11,450.15
198010-11,978.53
198011-11,829.43
198012-11,830.61
19811-11,467.39
19812-11,942.52
19813-12,097.03
19814-11,901.39
19815-12,003.45
19816-11,761.43
19817-11,855.83
19818-10,871.47
19819-11,059.25
198110-11,395.87
198111-11,530.26
198112-10,976.34
19821-10,766.26
19822-10,470.78
19823-11,043.46
19824-11,106.37
19825-10,520.99
19826-10,546.65
19827-10,630.38
19828-11,916.28
19829-12,974.61
198210-13,558.45
198211-13,742.24
198212-14,281.72
19831-14,585.93
19832-15,149.76
19833-15,785.66
19834-16,484.02
19835-16,773.06
19836-16,891.84
19837-16,485.22
19838-17,031.52
19839-17,141.87
198310-16,946.21
198311-16,924.49
198312-17,191.21
19841-16,312.37
19842-16,384.53
19843-16,467.63
19844-16,426.04
19845-16,122.43
19846-15,975.97
19847-17,446.81
19848-17,692.28
19849-17,619.31
198410-17,845.88
198411-17,719.61
198412-18,552.00
19851-19,625.67
19852-19,531.80
19853-19,731.94
19854-20,271.74
19855-20,780.75
19856-21,247.74
19857-20,855.66
19858-20,462.53
19859-20,768.56
198510-22,102.01
198511-23,272.20
198512-23,447.15
19861-24,782.99
19862-26,315.26
19863-27,036.68
19864-27,169.65
19865-28,020.94
19866-27,515.47
19867-28,143.06
19868-27,451.80
19869-27,427.12
198610-28,396.11
198611-28,881.38
198612-30,808.74
19871-32,799.57
19872-34,235.01
19873-33,941.82
19874-34,000.48
19875-35,529.97
19876-36,639.25
19877-39,003.96
19878-37,821.97
19879-33,338.60
198710-29,236.81
198711-28,846.59
198712-30,071.57
19881-31,072.52
19882-32,076.81
19883-31,792.60
19884-31,096.89
19885-32,962.14
19886-32,860.98
19887-32,296.27
19888-32,918.67
19889-34,170.11
198810-33,479.79
198811-34,258.51
198812-35,461.90
19891-36,632.09
19892-36,572.87
19893-37,876.62
19894-39,435.36
19895-40,773.25
19896-41,914.97
19897-43,881.10
19898-44,080.99
19899-44,207.18
198910-43,405.46
198911-44,593.34
198912-43,607.28
19901-42,505.24
19902-43,655.93
19903-43,741.49
19904-45,425.94
19905-46,865.92
19906-46,945.47
19907-43,254.98
19908-41,377.25
19909-40,419.05
199010-41,625.08
199011-43,534.26
199012-43,235.97
19911-48,254.28
19912-49,723.44
19913-50,846.60
19914-50,755.65
19915-50,931.78
19916-51,329.29
19917-52,704.37
19918-52,544.62
19919-52,640.07
199110-52,648.38
199111-53,140.72
199112-57,050.83
19921-56,708.04
19922-56,133.94
19923-56,282.30
19924-57,446.42
19925-56,682.89
19926-57,766.74
19927-58,310.74
19928-58,531.26
19929-57,839.39
199210-59,433.97
199211-61,378.17
199212-61,465.88
19931-62,525.70
19932-63,870.10
19933-63,013.12
19934-63,469.79
19935-64,018.92
19936-64,057.98
19937-65,186.98
19938-66,070.24
19939-66,890.77
199310-66,895.82
199311-67,489.31
199312-68,660.84
19941-68,608.86
19942-67,632.00
19943-65,368.78
19944-66,060.54
19945-66,792.55
19946-66,445.98
19947-68,493.90
19948-69,053.81
19949-68,747.21
199410-68,492.92
199411-67,790.38
199412-69,452.04
19951-72,104.48
19952-73,949.04
19953-76,326.91
19954-78,882.15
19955-81,389.36
19956-84,276.63
19957-84,709.07
19958-87,858.27
19959-88,660.04
199510-90,750.98
199511-93,826.66
199512-93,979.20
19961-99,528.11
19962-99,328.36
19963-99,524.07
19964-101,867.69
19965-103,170.17
19966-99,583.39
19967-102,646.33
19968-104,723.61
19969-109,037.70
199610-114,546.37
199611-115,918.89
199612-119,695.00
19971-124,915.09
19972-124,136.02
19973-119,908.88
19974-130,961.88
19975-137,951.08
19976-145,863.85
19977-146,371.15
19978-148,115.91
19979-150,552.97
199710-148,818.54
199711-152,739.33
199712-153,101.46
19981-162,903.26
19982-171,558.10
19983-177,400.81
19984-177,007.24
19985-177,213.37
19986-185,130.68
19987-172,225.20
19988-163,788.84
19989-165,903.12
199810-184,109.96
199811-191,666.03
199812-201,340.73
19991-201,206.42
19992-207,088.70
19993-215,890.02
19994-215,676.65
19995-214,357.21
19996-224,051.28
19997-215,594.72
19998-214,305.43
19999-211,578.45
199910-226,613.11
199911-232,978.06
199912-232,700.97
20001-226,934.46
20002-235,877.85
20003-239,238.32
20004-232,446.83
20005-239,800.24
20006-241,839.37
20007-244,111.96
20008-241,476.40
20009-228,885.27
200010-227,116.98
200011-219,576.53
200012-220,575.62
20011-215,863.56
20012-196,263.35
20013-197,143.98
20014-210,706.17
20015-205,673.13
20016-200,201.76
20017-196,105.95
20018-174,049.28
20019-179,591.06
200110-188,666.06
200111-191,432.00
200112-190,862.12
20021-184,462.96
20022-193,585.15
20023-186,781.73
20024-181,513.79
20025-170,766.44
20026-152,394.53
20027-154,129.99
20028-146,796.90
20029-144,790.12
200210-154,383.30
200211-152,785.34
200212-152,445.37
20031-142,666.25
20032-144,532.17
20033-152,171.94
20034-160,255.64
20035-169,396.91
20036-170,406.35
20037-170,122.93
20038-175,500.82
20039-179,059.68
200310-181,227.35
200311-186,779.81
200312-195,997.32
20041-198,127.15
20042-195,026.07
20043-196,914.19
20044-191,864.81
20045-197,347.69
20046-192,929.51
20047-190,252.48
20048-195,546.49
20049-195,747.11
200410-205,091.87
200411-210,685.64
200412-207,843.03
20051-211,337.30
20052-210,797.15
20053-205,719.22
20054-208,467.36
20055-213,013.40
20056-216,864.24
20057-217,536.56
20058-218,144.98
20059-212,420.38
200510-220,835.50
200511-225,570.51
200512-228,879.11
20061-228,841.02
20062-232,241.92
20063-234,095.98
20064-232,254.49
20065-225,970.17
20066-227,597.25
20067-232,813.23
20068-238,706.13
20069-247,337.54
200610-252,288.35
200611-257,708.18
200612-259,493.65
20071-263,635.29
20072-257,113.24
20073-267,861.24
20074-276,946.43
20075-277,901.63
20076-279,498.50
20077-267,756.47
20078-275,989.29
20079-284,245.88
200710-270,584.14
200711-273,934.57
200712-255,758.47
20081-251,758.50
20082-245,145.72
20083-255,549.22
20084-262,097.93
20085-250,967.73
20086-235,712.73
20087-240,687.53
20088-229,020.11
20089-182,772.74
200810-167,044.51
200811-166,457.82
200812-164,634.18
20091-153,599.57
20092-144,863.69
20093-162,713.43
20094-173,549.85
20095-178,528.76
20096-180,809.72
20097-195,492.81
20098-202,628.97
20099-207,498.36
200910-211,844.06
200911-216,559.40
200912-219,498.04
20101-213,135.95
20102-225,802.70
20103-235,033.35
20104-221,207.76
20105-213,369.12
20106-213,029.71
20107-214,869.46
20108-222,113.04
20109-232,280.12
201010-238,066.02
201011-246,907.17
201012-255,455.57
20111-263,504.63
20112-260,573.24
20113-266,360.53
20114-268,116.47
20115-258,296.43
20116-266,308.11
20117-238,610.34
20118-236,727.12
20119-243,873.69
201110-248,183.24
201111-252,041.87
201112-264,095.92
20121-275,089.20
20122-283,022.32
20123-282,914.18
20124-274,169.44
20125-271,009.88
20126-278,926.31
20127-288,375.50
20128-297,087.80
20129-296,442.72
201210-288,031.18
201211-294,297.40
201212-306,860.25
20131-314,019.37
20132-322,568.40
20133-327,257.87
20134-342,227.53
20135-338,402.20
20136-349,415.42
20137-350,297.79
20138-354,474.98
20139-361,981.16
201310-375,953.61
201311-381,674.35
201312-385,368.23
20141-384,867.11
20142-395,344.23
20143-396,141.73
20144-402,210.76
20145-415,066.70
20146-421,275.36
20147-419,476.72
20148-426,935.16
20149-415,635.96
201410-439,350.70
201411-442,135.69
201412-437,227.79
20151-449,589.95
20152-449,838.86
20153-453,790.29
20154-458,232.46
20155-456,236.86
20156-455,873.56
20157-444,821.37
20158-424,772.85
20159-443,110.80
201510-456,104.89
201511-451,074.19
201512-422,116.93
20161-419,795.67
20162-446,506.13
20163-459,147.88
20164-457,750.39
20165-462,632.26
20166-477,887.27
20167-483,618.37
20168-481,496.87
20169-479,060.59
201610-484,814.88
201611-503,945.50
201612-511,190.39
20171-524,360.93
20172-533,533.35
20173-532,711.69
20174-541,727.16
20175-551,350.55
20176-556,797.26
20177-558,177.03
20178-567,405.17
20179-582,922.56
201710-592,188.51
201711-609,264.19
201712-638,885.99
20181-620,443.36
20182-620,844.03
20183-610,513.36
20184-622,489.32
20185-635,642.33
20186-645,690.19
20187-661,514.80
20188-672,626.58
20189-646,737.28
201810-633,310.31
201811-598,082.35
201812-608,462.88
20191-643,929.59
20192-656,473.48
20193-680,915.43
20194-670,485.24
20195-679,903.88
20196-705,926.14
20197-683,799.49
20198-704,896.26
20199-704,965.36
201910-736,221.35
201911-754,401.02
201912-779,646.27
20201-780,598.04
20202-632,926.77
20203-660,260.44
20204-699,132.39
20205-744,633.82
20206-770,520.53
20207-815,931.20
20208-810,815.29
20209-824,809.97
202010-857,423.92
202011-893,950.87
202012-918,939.47
20211-941,835.11
20212-949,570.95
20213-1,006,749.23
20214-1,014,402.85
20215-1,032,767.83
20216-1,064,455.23
20217-1,087,715.30
20218-1,086,796.20
20219-1,091,710.43
202110-1,143,509.29
202111-1,146,544.21
202112-1,123,017.66
20221-1,090,421.29
20222-1,080,688.37
20223-1,081,966.84
20224-996,786.51
20225-963,200.94
20226-947,829.61
Click to show 1062 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 1933 to 2022
Start Value
Average monthly close
$7.09
End Value
Average monthly close
$3,831.39
Change in price+53,939.35%
+7.33% / yr
Change incl. dividends+1,286,038.37%
+11.15% / yr
Change incl. dividends, inflation-adjusted+56,333.19%
+7.34% / yr
Final amount, nominal
($100 base)
$1,286,138.37
Final amount, inflation-adjusted
($100 base)
$56,433.19