S&P 500: $100 in 1936 → $575,741.03 in 2022

$

Stock market returns since 1936

If you invested $100 in the S&P 500 at the beginning of 1936, you would have about $575,741.03 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 575,641.03%, or 10.53% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $501,304.02.

This investment result beats inflation during this period for an inflation-adjusted return of about 26,920.88% cumulatively, or 6.69% 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 $575,641.03, or 575,641.03%. This means by 2022 you would have $575,741.03 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 1936 was 13.900 and the CPI in 2022 was 296.171.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 86 years.

Adjusted for inflation, the $575,741.03 nominal end value of the original $100 investment would have a real return of roughly $26,920.88 in 1936 dollars. This means the inflation-adjusted return is 26,920.88% as opposed to the original 575,641.03%.

For more information on inflation, see our U.S. inflation calculator for 1936.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 1038-month period between 1936 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
193616.03%106.0313.80
193622.41%108.5913.80
193630.41%109.0413.70
19364-5.02%103.5713.70
193654.57%108.3013.70
193666.23%115.0513.80
193672.30%117.7013.90
193681.44%119.4014.00
193695.55%126.0214.00
1936103.10%129.9314.00
193611-1.40%128.1114.00
1936123.46%132.5514.00
193713.30%136.9214.10
193720.23%137.2414.10
19373-5.62%129.5214.20
19374-4.09%124.2314.30
19375-3.34%120.0814.40
193766.39%127.7614.40
193771.44%129.5914.50
19378-13.76%111.7614.50
19379-14.10%96.0014.60
193710-8.27%88.0714.60
193711-1.02%87.1714.50
1937123.24%89.9914.40
19381-1.80%88.3714.20
19382-6.02%83.0514.10
19383-3.44%80.1914.10
193841.56%81.4414.20
193852.93%83.8314.10
1938620.49%101.0014.10
193871.06%102.0714.10
19388-4.08%97.9014.10
1938911.62%109.2714.10
1938100.47%109.7814.00
193811-2.55%106.9814.00
193812-1.16%105.7414.00
19391-0.46%105.2514.00
193920.27%105.5313.90
19393-12.24%92.6213.90
193944.10%96.4113.80
193952.17%98.5013.80
193962.84%101.3013.80
19397-1.07%100.2213.80
1939811.06%111.2913.80
193991.38%112.8314.10
193910-1.41%111.2514.00
193911-1.97%109.0514.00
193912-0.15%108.8914.00
19401-0.23%108.6413.90
19402-0.15%108.4814.00
194031.42%110.0214.00
19404-13.34%95.3414.00
19405-8.09%87.6314.00
194063.87%91.0214.10
194072.65%93.4314.00
194084.76%97.8714.00
194091.47%99.3114.00
1940102.85%102.1414.00
194011-3.59%98.4714.00
1940120.72%99.1814.10
19411-5.72%93.5114.10
194121.18%94.6114.10
19413-2.55%92.2014.20
19414-1.59%90.7314.30
194154.11%94.4614.40
194165.71%99.8514.70
194170.08%99.9314.70
194180.86%100.7914.90
19419-3.43%97.3315.10
194110-4.08%93.3615.30
194111-5.88%87.8715.40
1941122.62%90.1615.50
19421-2.48%87.9315.70
19422-4.76%83.7415.80
19423-3.45%80.8516.00
194241.87%82.3616.10
194255.75%87.1016.30
194264.38%90.9116.30
194270.05%90.9516.40
194281.66%92.4616.50
194297.97%99.8316.50
1942102.15%101.9816.70
1942111.06%103.0616.80
1942126.50%109.7616.90
194316.43%116.8316.90
194324.01%121.5216.90
194333.79%126.1217.20
194344.36%131.6217.40
194352.18%134.4917.50
194362.47%137.8117.50
19437-4.54%131.5617.40
194382.55%134.9217.30
19439-0.50%134.2417.40
194310-4.21%128.6017.40
1943111.77%130.8717.40
1943123.67%135.6717.40
19441-0.24%135.3417.40
194423.24%139.7217.40
19443-1.31%137.9017.40
194442.20%140.9317.50
194455.14%148.1817.50
194463.02%152.6517.60
19447-1.06%151.0417.70
19448-1.23%149.1917.70
194492.88%153.4917.70
194410-0.28%153.0617.70
1944112.60%157.0417.70
1944123.38%162.3517.80
194513.73%168.4117.80
194520.31%168.9417.80
194532.90%173.8517.80
194544.16%181.0817.80
194552.19%185.0417.90
19456-1.70%181.9018.10
194570.71%183.1918.10
194587.18%196.3418.10
194594.51%205.2018.10
1945103.61%212.6018.10
1945112.02%216.9118.10
1945124.30%226.2318.20
194610.59%227.5618.20
19462-2.68%221.4618.10
194636.77%236.4618.30
194640.52%237.6818.40
19465-0.34%236.8818.50
19466-2.55%230.8418.70
19467-1.62%227.0919.80
19468-14.42%194.3420.20
19469-1.87%190.7020.40
194610-0.01%190.6820.80
1946113.39%197.1521.30
1946120.92%198.9621.50
194714.27%207.4621.50
19472-3.67%199.8421.50
19473-3.30%193.2521.90
19474-1.36%190.6221.90
194753.92%198.0921.90
194766.69%211.3522.00
19477-1.56%208.0522.20
19478-2.17%203.5522.50
194793.03%209.7123.00
194710-0.73%208.1823.00
194711-1.12%205.8423.10
194712-0.86%204.0623.40
19481-4.45%194.9823.70
194821.92%198.7223.50
194838.19%214.9923.40
194845.33%226.4523.80
194854.59%236.8423.90
19486-1.96%232.2024.10
19487-2.49%226.4324.40
19488-0.68%224.8924.50
194893.19%232.0624.50
194810-5.10%220.2224.40
194811-0.16%219.8824.20
1948121.63%223.4624.10
19491-3.33%216.0224.00
194921.49%219.2523.80
194930.41%220.1523.80
19494-0.18%219.7523.90
19495-4.91%208.9523.80
194966.26%222.0423.90
194974.17%231.3023.70
194981.87%235.6323.80
194993.14%243.0323.90
1949101.95%247.7723.70
1949113.24%255.8023.80
1949122.63%262.5223.60
195012.52%269.1523.50
195021.38%272.8523.50
195033.39%282.0923.60
195043.91%293.1323.60
195052.16%299.4823.70
19506-6.72%279.3423.80
195076.64%297.8824.10
195084.11%310.1224.30
195094.72%324.7624.40
1950100.38%325.9824.60
1950110.19%326.6224.70
1950128.01%352.7925.00
195114.31%367.9925.40
19512-1.11%363.9025.70
195131.93%370.9125.80
195140.63%373.2425.80
19515-1.15%368.9625.90
195162.37%377.7025.90
195174.97%396.4525.90
195183.14%408.8825.90
195190.03%409.0026.10
195110-2.25%399.7826.20
1951113.61%414.2326.40
1951123.83%430.1126.50
19521-1.33%424.3826.50
195220.75%427.5626.30
195230.20%428.4326.30
195240.46%430.4026.40
195253.24%444.3626.40
195263.37%459.3226.50
195270.88%463.3726.70
19528-1.11%458.2326.70
19529-1.61%450.8526.70
1952103.67%467.3826.70
1952114.51%488.4626.70
1952120.99%493.2926.70
19531-0.77%489.4726.60
195320.96%494.1626.50
19533-4.47%472.0526.60
195341.00%476.7926.60
19535-3.11%461.9726.70
195361.91%470.8126.80
195370.90%475.0426.80
19538-4.11%455.5326.90
195393.52%471.5526.90
1953102.71%484.3227.00
1953111.84%493.2226.90
1953123.02%508.1326.90
195412.68%521.7326.90
195422.58%535.2126.90
195434.45%559.0326.90
195444.42%583.7526.80
195451.22%590.8926.90
195464.46%617.2326.90
195472.39%632.0126.90
195482.74%649.3226.90
195492.71%666.9226.80
1954104.30%695.6126.80
1954114.95%730.0726.80
1954122.17%745.9026.70
195513.70%773.5426.70
19552-0.44%770.1626.70
195533.81%799.4926.70
19554-0.08%798.8626.70
195556.15%847.9526.70
195567.64%912.7726.70
19557-0.30%910.0426.80
195584.82%953.8726.80
19559-4.72%908.8026.90
1955107.07%973.0226.90
1955111.24%985.0526.90
195512-2.39%961.5326.80
195610.95%970.6626.80
195627.21%1,040.6126.80
195631.48%1,056.0426.80
19564-2.84%1,026.0626.90
19565-0.26%1,023.3727.00
195665.75%1,082.2127.20
19567-0.28%1,079.1327.40
19568-3.09%1,045.7927.30
19569-0.95%1,035.8227.40
195610-0.71%1,028.4427.50
1956111.81%1,047.0527.50
195612-1.86%1,027.5427.60
19571-4.00%986.4827.60
195721.62%1,002.4727.70
195732.64%1,028.9827.80
195744.16%1,071.7827.90
195751.95%1,092.7328.00
195762.32%1,118.1028.10
19577-5.21%1,059.9028.30
19578-3.74%1,020.2728.30
19579-5.90%960.1128.30
195710-1.80%942.8228.30
1957110.32%945.8228.40
1957122.33%967.8528.40
195810.70%974.6428.60
195822.42%998.2228.60
195830.90%1,007.1628.80
195843.56%1,043.0028.90
195852.74%1,071.5228.90
195863.07%1,104.4328.90
195874.05%1,149.2129.00
195882.94%1,183.0428.90
195894.36%1,234.6028.90
1958103.33%1,275.6728.90
1958112.16%1,303.2629.00
1958124.25%1,358.7028.90
19591-1.27%1,341.5229.00
195922.81%1,379.1628.90
195931.94%1,405.8728.90
195941.77%1,430.6929.00
19595-0.61%1,422.0129.00
195964.23%1,482.1329.10
19597-0.32%1,477.4129.20
19598-3.70%1,422.7029.20
195990.18%1,425.2129.30
1959100.67%1,434.7529.40
1959113.46%1,484.4429.40
195912-1.49%1,462.3829.40
19601-3.61%1,409.6029.30
19602-1.08%1,394.4029.40
196031.58%1,416.4929.40
19604-0.62%1,407.6529.50
196053.99%1,463.7929.50
19606-2.20%1,431.6429.60
196071.49%1,452.9829.60
19608-2.72%1,413.4529.60
19609-1.67%1,389.7929.60
1960103.54%1,439.0029.80
1960112.69%1,477.7229.80
1960125.43%1,557.9129.80
196114.37%1,626.0629.80
196123.40%1,681.3029.80
196132.92%1,730.3729.80
196141.26%1,752.2329.80
19615-1.08%1,733.3129.80
19616-0.03%1,732.8229.80
196173.84%1,799.3430.00
19618-0.54%1,789.6029.90
196191.34%1,813.6330.00
1961104.77%1,900.1830.00
1961111.16%1,922.2830.00
196112-3.49%1,855.2530.00
196211.91%1,890.6730.00
196220.34%1,897.1230.10
19623-2.94%1,841.2530.10
19624-7.19%1,708.9630.20
19625-11.41%1,513.9230.20
196262.72%1,555.0630.20
196273.02%1,602.0730.30
19628-0.59%1,592.5630.30
19629-2.86%1,547.0730.40
1962107.20%1,658.4730.40
1962114.62%1,735.1630.40
1962124.15%1,807.1130.40
196311.60%1,835.9430.40
19632-0.11%1,833.9530.40
196334.98%1,925.2530.50
196342.27%1,968.9530.50
196350.22%1,973.2130.50
19636-1.22%1,949.1030.60
196373.03%2,008.1830.70
196382.89%2,066.2930.70
196390.50%2,076.6230.70
196310-0.31%2,070.2530.80
1963112.39%2,119.8030.80
1963123.33%2,190.4030.90
196411.48%2,222.8130.90
196422.07%2,268.8530.90
196431.69%2,307.2630.90
196441.22%2,335.4230.90
19645-0.35%2,327.2330.90
196463.96%2,419.4131.00
19647-1.23%2,389.7631.10
196481.97%2,436.7331.00
196491.97%2,484.7331.10
1964100.94%2,508.0131.10
196411-1.49%2,470.6431.20
1964122.82%2,540.3331.20
196510.98%2,565.1031.20
196520.34%2,573.7131.20
196531.56%2,613.7931.30
196541.73%2,659.0831.40
19655-4.51%2,539.2331.40
196560.10%2,541.8431.60
196572.12%2,595.6931.60
196583.60%2,689.0331.60
196592.50%2,756.1831.60
1965101.08%2,785.8331.70
196511-0.21%2,779.9431.70
1965121.98%2,834.9931.80
19661-0.43%2,822.7931.80
19662-3.86%2,713.7632.00
196633.32%2,803.8932.10
19664-5.01%2,663.4832.30
19665-0.56%2,648.5832.30
196660.02%2,649.0632.40
19667-5.77%2,496.2332.50
19668-3.22%2,415.7332.70
19669-0.56%2,402.0932.70
1966105.32%2,529.7932.90
1966110.72%2,547.9032.90
1966124.13%2,653.1332.90
196713.73%2,752.1032.90
196722.63%2,824.5832.90
196731.99%2,880.8633.00
196742.06%2,940.1433.10
19675-0.99%2,910.9833.20
196761.99%2,968.9733.30
196771.85%3,023.9533.40
196781.65%3,073.9633.50
196790.10%3,076.9633.60
196710-2.88%2,988.2933.70
1967113.11%3,081.2833.80
196712-0.02%3,080.7433.90
19681-4.26%2,949.5934.10
19682-1.56%2,903.6034.20
196837.66%3,126.0734.30
196842.56%3,206.0234.40
196852.94%3,300.3034.50
196860.05%3,301.9134.70
19687-1.93%3,238.0634.90
196883.51%3,351.6435.00
196892.72%3,442.7135.10
1968101.79%3,504.1935.30
1968111.29%3,549.2335.40
196812-3.99%3,407.7935.50
19691-0.24%3,399.6635.60
19692-1.91%3,334.5935.80
196932.27%3,410.4336.10
196943.51%3,530.2636.30
19695-4.97%3,354.7636.40
19696-4.21%3,213.6836.60
19697-0.28%3,204.5636.80
196980.63%3,224.7037.00
196991.35%3,268.1237.10
1969101.00%3,300.7237.30
196911-5.03%3,134.7837.50
196912-0.59%3,116.3137.70
19701-3.20%3,016.7137.80
197022.01%3,077.4238.00
19703-2.75%2,992.8638.20
19704-11.20%2,657.6938.50
19705-0.27%2,650.5138.60
197060.52%2,664.3638.80
197073.26%2,751.1139.00
197086.32%2,925.0239.00
197092.49%2,997.8439.20
1970100.21%3,004.0339.40
1970117.16%3,219.0739.60
1970124.11%3,351.4039.80
197114.15%3,490.5239.80
197122.83%3,589.3639.90
197133.67%3,721.2340.00
19714-1.11%3,680.0040.10
19715-1.60%3,621.2840.30
19716-0.46%3,604.5140.60
19717-1.52%3,549.8340.70
197182.49%3,638.0940.80
19719-1.86%3,570.2940.80
197110-4.37%3,414.2140.90
1971117.16%3,658.7940.90
1971124.42%3,820.6041.10
197212.09%3,900.3441.10
197222.62%4,002.5141.30
197231.26%4,052.9041.40
19724-0.78%4,021.4541.50
197250.52%4,042.2141.60
19726-0.50%4,021.8441.70
197273.78%4,174.0241.90
19728-1.21%4,123.4942.00
197290.42%4,140.7042.10
1972105.25%4,358.2642.30
1972112.31%4,459.0142.40
1972120.99%4,503.1242.50
19731-3.33%4,353.3942.60
19732-1.35%4,294.8242.90
19733-1.63%4,224.6743.30
19734-2.57%4,116.1143.60
19735-1.99%4,034.2143.90
197361.21%4,083.0344.20
19737-1.64%4,016.2644.30
197382.00%4,096.3945.10
197394.24%4,269.8945.20
197310-6.85%3,977.2845.60
197311-6.81%3,706.6145.90
1973121.70%3,769.6446.20
19741-2.47%3,676.4246.60
197424.57%3,844.6147.20
19743-4.82%3,659.4247.80
19744-2.71%3,560.4148.00
197450.46%3,576.6948.60
19746-11.35%3,170.8549.00
19747-3.76%3,051.4849.40
19748-10.01%2,745.9150.00
197492.38%2,811.1850.60
1974103.74%2,916.4251.10
197411-6.09%2,738.7551.50
1974128.63%2,975.1851.90
1975110.81%3,296.7352.10
197524.97%3,460.6952.50
197531.49%3,512.1652.70
197546.71%3,747.9152.90
197552.89%3,856.4053.20
197560.43%3,873.0653.60
19757-7.00%3,602.0954.20
19758-0.85%3,571.3854.30
197594.97%3,748.9254.60
1975102.04%3,825.4654.90
197511-1.18%3,780.3455.30
1975129.55%4,141.1855.50
197614.18%4,314.2055.60
197620.80%4,348.8255.80
197631.10%4,396.4655.90
19764-0.38%4,379.6156.10
197650.90%4,419.0556.50
197662.67%4,536.8456.80
19767-0.56%4,511.4057.10
197682.44%4,621.3857.40
19769-3.11%4,477.7457.60
197610-0.37%4,461.3257.90
1976113.79%4,630.2558.00
197612-0.54%4,605.3858.20
19771-2.37%4,496.2958.50
19772-0.05%4,493.8659.10
19773-1.19%4,440.2259.50
197740.06%4,443.0860.00
197750.90%4,483.0660.30
197761.28%4,540.5560.70
19777-2.08%4,446.1761.00
19778-1.18%4,393.9161.20
19779-2.20%4,297.3461.40
1977100.98%4,339.5061.60
197711-0.08%4,336.0261.90
197712-3.39%4,189.0262.10
19781-0.97%4,148.3062.50
197820.27%4,159.3262.90
197834.83%4,360.2263.40
197845.50%4,600.2263.90
197850.67%4,631.2064.50
19786-0.06%4,628.3265.20
197877.33%4,967.4965.70
197880.40%4,987.3466.00
19789-2.77%4,849.0266.50
197810-5.44%4,585.3467.10
1978111.92%4,673.5167.40
1978124.19%4,869.1167.70
19791-1.06%4,817.6568.30
197922.34%4,930.4469.10
197932.43%5,050.2969.80
19794-1.89%4,954.6970.60
197952.42%5,074.4871.50
197961.42%5,146.5872.30
197975.01%5,404.6473.10
197981.54%5,487.9073.80
19799-3.35%5,303.9274.60
197910-0.32%5,286.8175.20
1979114.40%5,519.6575.90
1979123.31%5,702.4876.70
198014.40%5,953.1577.80
19802-8.78%5,430.6078.90
19803-1.16%5,367.4980.10
198045.04%5,637.8181.00
198056.86%6,024.7181.80
198064.97%6,324.1182.70
198073.50%6,545.7582.70
198082.84%6,731.3783.30
198093.32%6,955.1784.00
1980104.61%7,276.1384.80
198011-1.24%7,185.5685.50
1980120.01%7,186.2886.30
19811-3.07%6,965.6587.00
198124.14%7,254.2587.90
198131.29%7,348.1188.50
19814-1.62%7,229.2789.10
198150.86%7,291.2789.80
19816-2.02%7,144.2690.60
198170.80%7,201.6091.60
19818-8.30%6,603.6792.30
198191.73%6,717.7393.20
1981103.04%6,922.2093.40
1981111.18%7,003.8493.70
198112-4.80%6,667.3794.00
19821-1.91%6,539.7694.30
19822-2.74%6,360.2794.60
198235.47%6,708.1494.50
198240.57%6,746.3594.90
19825-5.27%6,390.7895.80
198260.24%6,406.3697.00
198270.79%6,457.2297.50
1982812.10%7,238.3197.70
198298.88%7,881.1897.90
1982104.50%8,235.8298.20
1982111.36%8,347.4698.00
1982123.93%8,675.1697.60
198312.13%8,859.9497.80
198323.87%9,202.4397.90
198334.20%9,588.7097.90
198344.42%10,012.9098.60
198351.75%10,188.4899.20
198360.71%10,260.6399.50
19837-2.41%10,013.6399.90
198383.31%10,345.47100.20
198390.65%10,412.50100.70
198310-1.14%10,293.65101.00
198311-0.13%10,280.46101.20
1983121.58%10,442.47101.30
19841-5.11%9,908.64101.90
198420.44%9,952.47102.40
198430.51%10,002.95102.60
19844-0.25%9,977.68103.10
19845-1.85%9,793.26103.40
19846-0.91%9,704.30103.70
198479.21%10,597.73104.10
198481.41%10,746.84104.50
19849-0.41%10,702.52105.00
1984101.29%10,840.14105.30
198411-0.71%10,763.44105.30
1984124.70%11,269.06105.30
198515.79%11,921.24105.50
19852-0.48%11,864.22106.00
198531.02%11,985.79106.40
198542.74%12,313.68106.90
198552.51%12,622.87107.30
198562.25%12,906.54107.60
19857-1.85%12,668.37107.80
19858-1.88%12,429.57108.00
198591.50%12,615.47108.30
1985106.42%13,425.44108.70
1985115.29%14,136.26109.00
1985120.75%14,242.52109.30
198615.70%15,053.95109.60
198626.18%15,984.70109.30
198632.74%16,422.91108.80
198640.49%16,503.69108.60
198653.13%17,020.79108.90
19866-1.80%16,713.75109.50
198672.28%17,094.96109.50
19868-2.46%16,675.07109.70
19869-0.09%16,660.08110.20
1986103.53%17,248.68110.30
1986111.71%17,543.45110.40
1986126.67%18,714.18110.50
198716.46%19,923.47111.20
198724.38%20,795.40111.60
19873-0.86%20,617.31112.10
198740.17%20,652.94112.70
198754.50%21,582.01113.10
198763.12%22,255.82113.50
198776.45%23,692.21113.80
19878-3.03%22,974.23114.40
19879-11.85%20,250.89115.00
198710-12.30%17,759.34115.30
198711-1.33%17,522.31115.40
1987124.25%18,266.40115.40
198813.33%18,874.41115.70
198823.23%19,484.44116.00
19883-0.89%19,311.81116.50
19884-2.19%18,889.21117.10
198856.00%20,022.23117.50
19886-0.31%19,960.77118.00
19887-1.72%19,617.75118.50
198881.93%19,995.82119.00
198893.80%20,755.98119.80
198810-2.02%20,336.66120.20
1988112.33%20,809.68120.30
1988123.51%21,540.65120.50
198913.30%22,251.46121.10
19892-0.16%22,215.49121.60
198933.56%23,007.43122.30
198944.12%23,954.26123.10
198953.39%24,766.93123.80
198962.80%25,460.45124.10
198974.69%26,654.74124.40
198980.46%26,776.16124.60
198990.29%26,852.81125.00
198910-1.81%26,365.82125.60
1989112.74%27,087.37125.90
198912-2.21%26,488.41126.10
19901-2.53%25,819.00127.40
199022.71%26,517.96128.00
199030.20%26,569.93128.70
199043.85%27,593.12128.90
199053.17%28,467.81129.20
199060.17%28,516.13129.90
19907-7.86%26,274.41130.40
19908-4.34%25,133.82131.60
19909-2.32%24,551.78132.70
1990102.98%25,284.36133.50
1990114.59%26,444.06133.80
199012-0.69%26,262.87133.80
1991111.61%29,311.14134.60
199123.04%30,203.55134.80
199132.26%30,885.80135.00
19914-0.18%30,830.55135.20
199150.35%30,937.54135.60
199160.78%31,179.00136.00
199172.68%32,014.27136.20
19918-0.30%31,917.23136.60
199190.18%31,975.21137.20
1991100.02%31,980.26137.40
1991110.94%32,279.32137.80
1991127.36%34,654.44137.90
19921-0.60%34,446.22138.10
19922-1.01%34,097.49138.60
199230.26%34,187.61139.30
199242.07%34,894.73139.50
19925-1.33%34,430.94139.70
199261.91%35,089.30140.20
199270.94%35,419.75140.50
199280.38%35,553.70140.90
19929-1.18%35,133.44141.30
1992102.76%36,102.03141.80
1992113.27%37,283.00142.00
1992120.14%37,336.27141.90
199311.72%37,980.04142.60
199322.15%38,796.67143.10
19933-1.34%38,276.12143.60
199340.72%38,553.52144.00
199350.87%38,887.08144.20
199360.06%38,910.80144.40
199371.76%39,596.59144.40
199381.35%40,133.11144.80
199391.24%40,631.53145.10
1993100.01%40,634.59145.70
1993110.89%40,995.09145.80
1993121.74%41,706.72145.80
19941-0.08%41,675.15146.20
19942-1.42%41,081.77146.70
19943-3.35%39,707.02147.20
199441.06%40,127.21147.40
199451.11%40,571.86147.50
19946-0.52%40,361.34148.00
199473.08%41,605.31148.40
199480.82%41,945.42149.00
19949-0.44%41,759.18149.40
199410-0.37%41,604.72149.50
199411-1.03%41,177.98149.70
1994122.45%42,187.32149.70
199513.82%43,798.49150.30
199522.56%44,918.93150.90
199533.22%46,363.33151.40
199543.35%47,915.46151.90
199553.18%49,438.41152.20
199563.55%51,192.23152.50
199570.51%51,454.91152.50
199583.72%53,367.83152.90
199590.91%53,854.85153.20
1995102.36%55,124.96153.70
1995113.39%56,993.22153.60
1995120.16%57,085.88153.50
199615.90%60,456.45154.40
19962-0.20%60,335.12154.90
199630.20%60,454.00155.70
199642.35%61,877.59156.30
199651.28%62,668.75156.60
19966-3.48%60,490.03156.70
199673.08%62,350.55157.00
199682.02%63,612.36157.30
199694.12%66,232.87157.80
1996105.05%69,579.01158.30
1996111.20%70,412.72158.60
1996123.26%72,706.45158.60
199714.36%75,877.29159.10
19972-0.62%75,404.06159.60
19973-3.41%72,836.36160.00
199749.22%79,550.30160.20
199755.34%83,795.76160.10
199765.74%88,602.22160.30
199770.35%88,910.37160.50
199781.19%89,970.19160.80
199791.65%91,450.53161.20
199710-1.15%90,396.98161.60
1997112.63%92,778.60161.50
1997120.24%92,998.56161.30
199816.40%98,952.48161.60
199825.31%104,209.70161.90
199833.41%107,758.74162.20
19984-0.22%107,519.67162.50
199850.12%107,644.89162.80
199864.47%112,454.10163.00
19987-6.97%104,614.92163.20
19988-4.90%99,490.41163.40
199891.29%100,774.69163.60
19981010.97%111,834.09164.00
1998114.10%116,423.88164.00
1998125.05%122,300.59163.90
19991-0.07%122,219.00164.30
199922.92%125,792.09164.50
199934.25%131,138.28165.00
19994-0.10%131,008.67166.20
19995-0.61%130,207.20166.20
199964.52%136,095.68166.20
19997-3.77%130,958.90166.70
19998-0.60%130,175.75167.10
19999-1.27%128,519.30167.90
1999107.11%137,651.81168.20
1999112.81%141,518.08168.30
199912-0.12%141,349.77168.30
20001-2.48%137,847.01168.80
200023.94%143,279.50169.80
200031.42%145,320.75171.20
20004-2.84%141,195.40171.30
200053.16%145,662.09171.50
200060.85%146,900.71172.40
200070.94%148,281.15172.80
20008-1.08%146,680.24172.80
20009-5.21%139,031.99173.70
200010-0.77%137,957.88174.00
200011-3.32%133,377.58174.10
2000120.46%133,984.46174.00
20011-2.14%131,122.20175.10
20012-9.08%119,216.43175.80
200130.45%119,751.35176.20
200146.88%127,989.44176.90
20015-2.39%124,932.22177.70
20016-2.66%121,608.74178.00
20017-2.05%119,120.82177.50
20018-11.25%105,722.92177.50
200193.18%109,089.17178.30
2001105.05%114,601.60177.70
2001111.47%116,281.72177.40
200112-0.30%115,935.56176.70
20021-3.35%112,048.51177.10
200224.95%117,589.61177.80
20023-3.51%113,457.00178.80
20024-2.82%110,257.09179.80
20025-5.92%103,728.82179.80
20026-10.76%92,569.15179.90
200271.14%93,623.32180.10
20028-4.76%89,168.98180.70
20029-1.37%87,950.00181.00
2002106.63%93,777.19181.30
200211-1.04%92,806.54181.30
200212-0.22%92,600.03180.90
20031-6.41%86,659.89181.70
200321.31%87,793.31183.10
200335.29%92,433.95184.20
200345.31%97,344.23183.80
200355.70%102,896.93183.50
200360.60%103,510.09183.70
20037-0.17%103,337.93183.90
200383.16%106,604.63184.60
200392.03%108,766.39185.20
2003101.21%110,083.10185.00
2003113.06%113,455.83184.50
2003124.93%119,054.84184.30
200411.09%120,348.56185.20
20042-1.57%118,464.87186.20
200430.97%119,611.77187.40
20044-2.56%116,544.62188.00
200452.86%119,875.09189.10
20046-2.24%117,191.35189.70
20047-1.39%115,565.24189.40
200482.78%118,780.99189.50
200490.10%118,902.85189.90
2004104.77%124,579.15190.90
2004112.73%127,976.98191.00
200412-1.35%126,250.29190.30
200511.68%128,372.81190.70
20052-0.26%128,044.71191.80
20053-2.41%124,960.22193.30
200541.34%126,629.52194.60
200552.18%129,390.93194.40
200561.81%131,730.05194.50
200570.31%132,138.43195.40
200580.28%132,508.01196.40
20059-2.62%129,030.71198.80
2005103.96%134,142.32199.20
2005112.14%137,018.50197.60
2005121.47%139,028.25196.80
20061-0.02%139,005.12198.30
200621.49%141,070.92198.70
200630.80%142,197.14199.80
20064-0.79%141,078.57201.50
20065-2.71%137,261.27202.50
200660.72%138,249.61202.90
200672.29%141,417.96203.50
200682.53%144,997.49203.90
200693.62%150,240.47202.90
2006102.00%153,247.75201.80
2006112.15%156,539.92201.50
2006120.69%157,624.47201.80
200711.60%160,140.23202.42
20072-2.47%156,178.54203.50
200734.18%162,707.21205.35
200743.39%168,225.83206.69
200750.34%168,806.05207.95
200760.57%169,776.04208.35
20077-4.20%162,643.56208.30
200783.07%167,644.44207.92
200792.99%172,659.74208.49
200710-4.81%164,361.18208.94
2007111.24%166,396.33210.18
200712-6.64%155,355.61210.04
20081-1.56%152,925.90211.08
20082-2.63%148,909.09211.69
200834.24%155,228.50213.53
200842.56%159,206.39214.82
20085-4.25%152,445.56216.63
20086-6.08%143,179.20218.82
200872.11%146,201.05219.96
20088-4.85%139,113.90219.09
20089-20.19%111,021.82218.78
200810-8.61%101,468.00216.57
200811-0.35%101,111.63212.43
200812-1.10%100,003.90210.23
20091-6.70%93,301.13211.14
20092-5.69%87,994.69212.19
2009312.32%98,837.17212.71
200946.66%105,419.55213.24
200952.87%108,443.89213.86
200961.28%109,829.42215.69
200978.12%118,748.38215.35
200983.65%123,083.11215.83
200992.40%126,040.93215.97
2009102.09%128,680.63216.18
2009112.23%131,544.88216.33
2009121.36%133,329.90215.95
20101-2.90%129,465.37216.69
201025.94%137,159.54216.74
201034.09%142,766.53217.63
20104-5.88%134,368.44218.01
20105-3.54%129,607.01218.18
20106-0.16%129,400.84217.97
201070.86%130,518.36218.01
201083.37%134,918.33218.31
201094.58%141,094.13218.44
2010102.49%144,608.67218.71
2010113.71%149,979.05218.80
2010123.46%155,171.62219.18
201113.15%160,060.86220.22
20112-1.11%158,280.25221.31
201132.22%161,795.63223.47
201140.66%162,862.24224.91
20115-3.66%156,897.25225.96
201163.10%161,763.78225.72
20117-10.40%144,939.30225.92
20118-0.79%143,795.38226.55
201193.02%148,136.42226.89
2011101.77%150,754.18226.42
2011111.55%153,098.03226.23
2011124.78%160,420.03225.67
201214.16%167,097.69226.67
201222.88%171,916.51227.66
20123-0.04%171,850.82229.39
20124-3.09%166,539.00230.09
20125-1.15%164,619.78229.82
201262.92%169,428.47229.48
201273.39%175,168.20229.10
201283.02%180,460.32230.38
20129-0.22%180,068.48231.41
201210-2.84%174,959.05231.32
2012112.18%178,765.34230.22
2012124.27%186,396.41229.60
201312.33%190,745.08230.28
201322.72%195,938.03232.17
201331.45%198,786.56232.77
201344.57%207,879.59232.53
20135-1.12%205,555.96232.95
201363.25%212,245.73233.50
201370.25%212,781.72233.60
201381.19%215,319.07233.88
201392.12%219,878.56234.15
2013103.86%228,365.86233.55
2013111.52%231,840.81233.07
2013120.97%234,084.58233.05
20141-0.13%233,780.19233.92
201422.72%240,144.32234.78
201430.20%240,628.75236.29
201441.53%244,315.26237.07
201453.20%252,124.35237.90
201461.50%255,895.69238.34
20147-0.43%254,803.14238.25
201481.78%259,333.62237.85
20149-2.65%252,470.14238.03
2014105.71%266,875.21237.43
2014110.63%268,566.90236.15
201412-1.11%265,585.68234.81
201512.83%273,094.85233.71
201520.06%273,246.04234.72
201530.88%275,646.26236.12
201540.98%278,344.57236.60
20155-0.44%277,132.38237.81
20156-0.08%276,911.70238.64
20157-2.42%270,198.26238.65
20158-4.51%258,020.17238.32
201594.32%269,159.21237.95
2015102.93%277,052.22237.84
201511-1.10%273,996.42237.34
201512-6.42%256,406.88236.53
20161-0.55%254,996.88236.92
201626.36%271,221.64237.11
201632.83%278,900.63238.13
20164-0.30%278,051.75239.26
201651.07%281,017.14240.23
201663.30%290,283.51241.02
201671.20%293,764.76240.63
20168-0.44%292,476.10240.85
20169-0.51%290,996.22241.43
2016101.20%294,491.56241.73
2016113.95%306,112.09241.35
2016121.44%310,512.86241.43
201712.58%318,513.05242.84
201721.75%324,084.67243.60
20173-0.15%323,585.56243.80
201741.69%329,061.84244.52
201751.78%334,907.38244.73
201760.99%338,215.88244.96
201770.25%339,054.00244.79
201781.65%344,659.45245.52
201792.73%354,085.20246.82
2017101.59%359,713.62246.66
2017112.88%370,085.92246.67
2017124.86%388,079.12246.52
20181-2.89%376,876.49247.87
201820.06%377,119.87248.99
20183-1.66%370,844.70249.55
201841.96%378,119.27250.55
201852.11%386,108.82251.59
201861.58%392,212.20251.99
201872.45%401,824.56252.01
201881.68%408,574.19252.15
20189-3.85%392,848.23252.44
201810-2.08%384,692.28252.89
201811-5.56%363,293.72252.04
2018121.74%369,599.18251.23
201915.83%391,142.75251.71
201921.95%398,762.30252.78
201933.72%413,609.10254.20
20194-1.53%407,273.48255.55
201951.40%412,994.65256.09
201963.83%428,801.38256.14
20197-3.13%415,360.97256.57
201983.09%428,175.80256.56
201990.01%428,217.77256.76
2019104.43%447,203.63257.35
2019112.47%458,246.52257.21
2019123.35%473,581.27256.97
202010.12%474,159.40257.97
20202-18.92%384,459.30258.68
202034.32%401,062.62258.12
202045.89%424,674.64256.39
202056.51%452,313.62256.39
202063.48%468,038.01257.80
202075.89%495,621.85259.10
20208-0.63%492,514.29259.92
202091.73%501,015.09260.28
2020103.95%520,825.81260.39
2020114.26%543,013.41260.23
2020122.80%558,192.27260.47
202112.49%572,099.79261.58
202120.82%576,798.77263.01
202136.02%611,530.63264.88
202140.76%616,179.68267.05
202151.81%627,335.13269.20
202163.07%646,583.04271.70
202172.19%660,711.93273.00
20218-0.08%660,153.63273.57
202190.45%663,138.69274.31
2021104.74%694,602.92276.59
2021110.27%696,446.42277.95
202112-2.05%682,155.67278.80
20221-2.90%662,355.63281.15
20222-0.89%656,443.55283.72
202230.12%657,220.13287.50
20224-7.87%605,478.97289.11
20225-3.37%585,078.05292.30
20226-1.60%575,741.03296.31
Click to show 1026 more rows

Remember, returns are based on the average closing price across the entire month. Some losses are offset by dividend returns.

Dollar-cost averaging

Dollar-cost averaging is an alternative to investing the full lump-sum of $100.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $100.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1936. This would result in a final amount of $501,304.02, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $575,741.03).

YearMonthContribution ($)Amount ($)
193614.164.40
193624.168.75
193634.1612.96
193644.1616.24
193654.1621.32
193664.1627.06
193674.1631.92
193684.1636.59
193694.1643.00
1936104.1648.61
1936114.1652.02
1936124.1658.11
193714.1664.31
193724.1668.61
193734.1668.66
193744.1669.83
193754.1671.51
193764.1680.49
193774.1685.84
193784.1677.60
193794.1670.22
1937104.1668.21
1937114.1671.60
1937124.3278.36
19381-76.94
19382-72.31
19383-69.82
19384-70.91
19385-72.99
19386-87.94
19387-88.87
19388-85.24
19389-95.14
193810-95.59
193811-93.15
193812-92.07
19391-91.65
19392-91.89
19393-80.64
19394-83.94
19395-85.77
19396-88.20
19397-87.26
19398-96.91
19399-98.25
193910-96.86
193911-94.95
193912-94.81
19401-94.59
19402-94.46
19403-95.80
19404-83.02
19405-76.30
19406-79.25
19407-81.35
19408-85.22
19409-86.47
194010-88.93
194011-85.74
194012-86.36
19411-81.42
19412-82.37
19413-80.28
19414-79.00
19415-82.25
19416-86.94
19417-87.01
19418-87.76
19419-84.75
194110-81.29
194111-76.51
194112-78.51
19421-76.56
19422-72.91
19423-70.40
19424-71.71
19425-75.84
19426-79.16
19427-79.19
19428-80.51
19429-86.93
194210-88.80
194211-89.74
194212-95.57
19431-101.72
19432-105.81
19433-109.81
19434-114.60
19435-117.10
19436-120.00
19437-114.55
19438-117.47
19439-116.89
194310-111.97
194311-113.95
194312-118.13
19441-117.84
19442-121.66
19443-120.07
19444-122.71
19445-129.02
19446-132.92
19447-131.52
19448-129.90
19449-133.65
194410-133.27
194411-136.74
194412-141.36
19451-146.64
19452-147.10
19453-151.37
19454-157.67
19455-161.12
19456-158.39
19457-159.50
19458-170.96
19459-178.67
194510-185.12
194511-188.86
194512-196.98
19461-198.14
19462-192.83
19463-205.88
19464-206.95
19465-206.25
19466-201.00
19467-197.73
19468-169.21
19469-166.05
194610-166.02
194611-171.66
194612-173.24
19471-180.64
19472-174.00
19473-168.26
19474-165.97
19475-172.48
19476-184.02
19477-181.15
19478-177.23
19479-182.59
194710-181.26
194711-179.23
194712-177.68
19481-169.77
19482-173.03
19483-187.20
19484-197.17
19485-206.22
19486-202.18
19487-197.15
19488-195.82
19489-202.06
194810-191.75
194811-191.45
194812-194.57
19491-188.09
19492-190.90
19493-191.69
19494-191.34
19495-181.94
19496-193.33
19497-201.40
19498-205.17
19499-211.61
194910-215.73
194911-222.73
194912-228.58
19501-234.35
19502-237.57
19503-245.62
19504-255.23
19505-260.76
19506-243.22
19507-259.37
19508-270.02
19509-282.77
195010-283.84
195011-284.39
195012-307.18
19511-320.41
19512-316.85
19513-322.95
19514-324.98
19515-321.26
19516-328.86
19517-345.19
19518-356.02
19519-356.12
195110-348.09
195111-360.67
195112-374.50
19521-369.51
19522-372.28
19523-373.04
19524-374.75
19525-386.91
19526-399.94
19527-403.46
19528-398.99
19529-392.56
195210-406.96
195211-425.31
195212-429.51
19531-426.19
19532-430.27
19533-411.02
19534-415.14
19535-402.24
19536-409.94
19537-413.63
19538-396.64
19539-410.59
195310-421.71
195311-429.45
195312-442.44
19541-454.28
19542-466.01
19543-486.75
19544-508.28
19545-514.49
19546-537.43
19547-550.29
19548-565.37
19549-580.70
195410-605.68
195411-635.68
195412-649.46
19551-673.53
19552-670.59
19553-696.12
19554-695.58
19555-738.32
19556-794.76
19557-792.38
19558-830.54
19559-791.30
195510-847.22
195511-857.70
195512-837.22
19561-845.17
19562-906.07
19563-919.50
19564-893.40
19565-891.06
19566-942.29
19567-939.61
19568-910.58
19569-901.90
195610-895.47
195611-911.67
195612-894.69
19571-858.94
19572-872.86
19573-895.94
19574-933.21
19575-951.45
19576-973.54
19577-922.87
19578-888.36
19579-835.98
195710-820.93
195711-823.54
195712-842.71
19581-848.63
19582-869.16
19583-876.95
19584-908.15
19585-932.99
19586-961.64
19587-1,000.63
19588-1,030.08
19589-1,074.98
195810-1,110.74
195811-1,134.76
195812-1,183.04
19591-1,168.07
19592-1,200.85
19593-1,224.11
19594-1,245.72
19595-1,238.16
19596-1,290.51
19597-1,286.40
19598-1,238.76
19599-1,240.95
195910-1,249.25
195911-1,292.51
195912-1,273.31
19601-1,227.35
19602-1,214.12
19603-1,233.36
19604-1,225.65
19605-1,274.53
19606-1,246.54
19607-1,265.13
19608-1,230.71
19609-1,210.11
196010-1,252.95
196011-1,286.67
196012-1,356.49
19611-1,415.83
19612-1,463.92
19613-1,506.66
19614-1,525.69
19615-1,509.21
19616-1,508.79
19617-1,566.71
19618-1,558.22
19619-1,579.15
196110-1,654.51
196111-1,673.75
196112-1,615.38
19621-1,646.23
19622-1,651.84
19623-1,603.20
19624-1,488.01
19625-1,318.18
19626-1,354.00
19627-1,394.94
19628-1,386.66
19629-1,347.05
196210-1,444.05
196211-1,510.82
196212-1,573.47
19631-1,598.58
19632-1,596.84
19633-1,676.34
19634-1,714.38
19635-1,718.10
19636-1,697.10
19637-1,748.55
19638-1,799.14
19639-1,808.14
196310-1,802.59
196311-1,845.73
196312-1,907.20
19641-1,935.43
19642-1,975.51
19643-2,008.96
19644-2,033.47
19645-2,026.34
19646-2,106.61
19647-2,080.79
19648-2,121.68
19649-2,163.48
196410-2,183.76
196411-2,151.21
196412-2,211.89
19651-2,233.46
19652-2,240.95
19653-2,275.86
19654-2,315.29
19655-2,210.93
19656-2,213.21
19657-2,260.10
19658-2,341.37
19659-2,399.83
196510-2,425.65
196511-2,420.52
196512-2,468.46
19661-2,457.83
19662-2,362.90
19663-2,441.37
19664-2,319.12
19665-2,306.14
19666-2,306.57
19667-2,173.49
19668-2,103.40
19669-2,091.53
196610-2,202.72
196611-2,218.48
196612-2,310.11
19671-2,396.28
19672-2,459.39
19673-2,508.39
19674-2,560.01
19675-2,534.62
19676-2,585.12
19677-2,632.99
19678-2,676.53
19679-2,679.14
196710-2,601.94
196711-2,682.90
196712-2,682.43
19681-2,568.24
19682-2,528.20
19683-2,721.90
19684-2,791.52
19685-2,873.61
19686-2,875.01
19687-2,819.41
19688-2,918.31
19689-2,997.60
196810-3,051.13
196811-3,090.35
196812-2,967.20
19691-2,960.12
19692-2,903.47
19693-2,969.50
19694-3,073.83
19695-2,921.02
19696-2,798.18
19697-2,790.25
19698-2,807.78
19699-2,845.59
196910-2,873.97
196911-2,729.48
196912-2,713.41
19701-2,626.68
19702-2,679.54
19703-2,605.91
19704-2,314.08
19705-2,307.83
19706-2,319.89
19707-2,395.42
19708-2,546.84
19709-2,610.25
197010-2,615.64
197011-2,802.88
197012-2,918.10
19711-3,039.23
19712-3,125.30
19713-3,240.12
19714-3,204.22
19715-3,153.09
19716-3,138.49
19717-3,090.87
19718-3,167.73
19719-3,108.69
197110-2,972.79
197111-3,185.75
197112-3,326.64
19721-3,396.07
19722-3,485.03
19723-3,528.90
19724-3,501.52
19725-3,519.60
19726-3,501.86
19727-3,634.36
19728-3,590.37
19729-3,605.36
197210-3,794.79
197211-3,882.51
197212-3,920.92
19731-3,790.54
19732-3,739.55
19733-3,678.47
19734-3,583.94
19735-3,512.63
19736-3,555.14
19737-3,497.00
19738-3,566.77
19739-3,717.84
197310-3,463.06
197311-3,227.39
197312-3,282.27
19741-3,201.10
19742-3,347.54
19743-3,186.30
19744-3,100.09
19745-3,114.26
19746-2,760.89
19747-2,656.95
19748-2,390.90
19749-2,447.73
197410-2,539.36
197411-2,384.66
197412-2,590.52
19751-2,870.50
19752-3,013.26
19753-3,058.07
19754-3,263.35
19755-3,357.81
19756-3,372.32
19757-3,136.38
19758-3,109.64
19759-3,264.23
197510-3,330.87
197511-3,291.58
197512-3,605.77
19761-3,756.43
19762-3,786.57
19763-3,828.05
19764-3,813.37
19765-3,847.72
19766-3,950.27
19767-3,928.13
19768-4,023.89
19769-3,898.82
197610-3,884.52
197611-4,031.61
197612-4,009.95
19771-3,914.97
19772-3,912.85
19773-3,866.14
19774-3,868.64
19775-3,903.45
19776-3,953.51
19777-3,871.33
19778-3,825.83
19779-3,741.74
197710-3,778.45
197711-3,775.42
197712-3,647.42
19781-3,611.97
19782-3,621.57
19783-3,796.49
19784-4,005.46
19785-4,032.44
19786-4,029.93
19787-4,325.25
19788-4,342.53
19789-4,222.09
197810-3,992.51
197811-4,069.28
197812-4,239.59
19791-4,194.78
19792-4,292.99
19793-4,397.35
19794-4,314.10
19795-4,418.40
19796-4,481.18
19797-4,705.88
19798-4,778.37
19799-4,618.18
197910-4,603.29
197911-4,806.02
197912-4,965.21
19801-5,183.48
19802-4,728.48
19803-4,673.53
19804-4,908.90
19805-5,245.78
19806-5,506.47
19807-5,699.45
19808-5,861.08
19809-6,055.94
198010-6,335.41
198011-6,256.55
198012-6,257.17
19811-6,065.06
19812-6,316.36
19813-6,398.08
19814-6,294.61
19815-6,348.59
19816-6,220.58
19817-6,270.51
19818-5,749.89
19819-5,849.20
198110-6,027.24
198111-6,098.32
198112-5,805.35
19821-5,694.24
19822-5,537.96
19823-5,840.85
19824-5,874.12
19825-5,564.52
19826-5,578.09
19827-5,622.38
19828-6,302.48
19829-6,862.23
198210-7,171.02
198211-7,268.23
198212-7,553.56
19831-7,714.45
19832-8,012.66
19833-8,348.98
19834-8,718.34
19835-8,871.22
19836-8,934.04
19837-8,718.98
19838-9,007.91
19839-9,066.28
198310-8,962.79
198311-8,951.31
198312-9,092.38
19841-8,627.56
19842-8,665.72
19843-8,709.68
19844-8,687.68
19845-8,527.10
19846-8,449.64
19847-9,227.56
19848-9,357.39
19849-9,318.80
198410-9,438.63
198411-9,371.84
198412-9,812.09
19851-10,379.95
19852-10,330.31
19853-10,436.16
19854-10,721.66
19855-10,990.87
19856-11,237.86
19857-11,030.49
19858-10,822.57
19859-10,984.42
198510-11,689.68
198511-12,308.59
198512-12,401.12
19861-13,107.64
19862-13,918.06
19863-14,299.61
19864-14,369.94
19865-14,820.19
19866-14,552.84
19867-14,884.77
19868-14,519.17
19869-14,506.12
198610-15,018.61
198611-15,275.27
198612-16,294.65
19871-17,347.59
19872-18,106.79
19873-17,951.72
19874-17,982.74
19875-18,791.69
19876-19,378.38
19877-20,629.07
19878-20,003.92
19879-17,632.68
198710-15,463.25
198711-15,256.87
198712-15,904.76
19881-16,434.16
19882-16,965.32
19883-16,815.00
19884-16,447.04
19885-17,433.57
19886-17,380.06
19887-17,081.39
19888-17,410.58
19889-18,072.46
198810-17,707.35
198811-18,119.22
198812-18,755.68
19891-19,374.59
19892-19,343.27
19893-20,032.82
19894-20,857.23
19895-21,564.84
19896-22,168.69
19897-23,208.57
19898-23,314.29
19899-23,381.03
198910-22,957.01
198911-23,585.27
198912-23,063.75
19901-22,480.89
19902-23,089.48
19903-23,134.73
19904-24,025.63
19905-24,787.24
19906-24,829.31
19907-22,877.42
19908-21,884.30
19909-21,377.51
199010-22,015.37
199011-23,025.13
199012-22,867.37
19911-25,521.53
19912-26,298.56
19913-26,892.60
19914-26,844.50
19915-26,937.65
19916-27,147.90
19917-27,875.17
19918-27,790.68
19919-27,841.16
199110-27,845.56
199111-28,105.95
199112-30,174.00
19921-29,992.70
19922-29,689.06
19923-29,767.53
19924-30,383.23
19925-29,979.39
19926-30,552.64
19927-30,840.36
19928-30,957.00
19929-30,591.07
199210-31,434.43
199211-32,462.72
199212-32,509.10
19931-33,069.64
19932-33,780.69
19933-33,327.44
19934-33,568.97
19935-33,859.40
19936-33,880.06
19937-34,477.18
19938-34,944.34
19939-35,378.31
199310-35,380.98
199311-35,694.88
199312-36,314.50
19941-36,287.01
19942-35,770.35
19943-34,573.33
19944-34,939.20
19945-35,326.36
19946-35,143.06
19947-36,226.20
19948-36,522.34
19949-36,360.17
199410-36,225.68
199411-35,854.11
199412-36,732.96
19951-38,135.83
19952-39,111.41
19953-40,369.06
19954-41,720.51
19955-43,046.57
19956-44,573.64
19957-44,802.36
19958-46,467.96
19959-46,892.01
199510-47,997.90
199511-49,624.62
199512-49,705.30
19961-52,640.09
19962-52,534.45
19963-52,637.96
19964-53,877.49
19965-54,566.37
19966-52,669.33
19967-54,289.31
19968-55,387.98
19969-57,669.68
199610-60,583.20
199611-61,309.13
199612-63,306.30
19971-66,067.19
19972-65,655.14
19973-63,419.42
19974-69,265.31
19975-72,961.88
19976-77,146.92
19977-77,415.23
19978-78,338.02
19979-79,626.98
199710-78,709.64
199711-80,783.34
199712-80,974.87
19981-86,159.01
19982-90,736.53
19983-93,826.72
19984-93,618.55
19985-93,727.58
19986-97,915.02
19987-91,089.35
19988-86,627.39
19989-87,745.62
199810-97,375.16
199811-101,371.54
199812-106,488.46
19991-106,417.42
19992-109,528.55
19993-114,183.53
19994-114,070.68
19995-113,372.84
19996-118,500.00
19997-114,027.35
19998-113,345.45
19999-111,903.16
199910-119,854.94
199911-123,221.34
199912-123,074.79
20001-120,024.90
20002-124,755.03
20003-126,532.37
20004-122,940.38
20005-126,829.57
20006-127,908.06
20007-129,110.02
20008-127,716.09
20009-121,056.68
200010-120,121.44
200011-116,133.32
200012-116,661.73
20011-114,169.54
20012-103,803.05
20013-104,268.81
20014-111,441.81
20015-108,779.85
20016-105,886.06
20017-103,719.80
20018-92,054.10
20019-94,985.13
200110-99,784.87
200111-101,247.76
200112-100,946.36
20021-97,561.86
20022-102,386.56
20023-98,788.25
20024-96,002.06
20025-90,317.82
20026-80,600.97
20027-81,518.85
20028-77,640.40
20029-76,579.03
200210-81,652.83
200211-80,807.67
200212-80,627.86
20031-75,455.72
20032-76,442.60
20033-80,483.25
20034-84,758.69
20035-89,593.48
20036-90,127.37
20037-89,977.46
20038-92,821.82
20039-94,704.08
200310-95,850.56
200311-98,787.24
200312-103,662.35
20041-104,788.81
20042-103,148.66
20043-104,147.28
20044-101,476.68
20045-104,376.55
20046-102,039.79
20047-100,623.92
20048-103,423.90
20049-103,530.01
200410-108,472.43
200411-111,430.96
200412-109,927.51
20051-111,775.61
20052-111,489.93
20053-108,804.23
20054-110,257.71
20055-112,662.10
20056-114,698.79
20057-115,054.38
20058-115,376.18
20059-112,348.45
200510-116,799.18
200511-119,303.51
200512-121,053.42
20061-121,033.28
20062-122,832.00
20063-123,812.60
20064-122,838.65
20065-119,514.89
20066-120,375.45
20067-123,134.16
20068-126,250.90
20069-130,816.02
200610-133,434.49
200611-136,301.02
200612-137,245.35
20071-139,435.85
20072-135,986.36
20073-141,670.94
20074-146,476.07
20075-146,981.27
20076-147,825.85
20077-141,615.53
20078-145,969.84
20079-150,336.73
200710-143,111.08
200711-144,883.11
200712-135,269.83
20081-133,154.25
20082-129,656.78
20083-135,159.16
20084-138,622.75
20085-132,736.02
20086-124,667.70
20087-127,298.85
20088-121,128.00
20089-96,667.91
200810-88,349.30
200811-88,039.00
200812-87,074.49
20091-81,238.31
20092-76,617.94
20093-86,058.61
20094-91,789.96
20095-94,423.28
20096-95,629.67
20097-103,395.52
20098-107,169.81
20099-109,745.21
200910-112,043.64
200911-114,537.57
200912-116,091.81
20101-112,726.92
20102-119,426.32
20103-124,308.38
20104-116,996.07
20105-112,850.24
20106-112,670.72
20107-113,643.76
20108-117,474.87
20109-122,852.21
201010-125,912.35
201011-130,588.40
201012-135,109.62
20111-139,366.74
20112-137,816.34
20113-140,877.22
20114-141,805.93
20115-136,612.15
20116-140,849.50
20117-126,200.24
20118-125,204.21
20119-128,984.01
201110-131,263.31
201111-133,304.13
201112-139,679.48
20121-145,493.79
20122-149,689.59
20123-149,632.39
20124-145,007.33
20125-143,336.25
20126-147,523.22
20127-152,520.87
20128-157,128.78
20129-156,787.60
201210-152,338.76
201211-155,652.94
201212-162,297.39
20131-166,083.83
20132-170,605.38
20133-173,085.63
20134-181,003.03
20135-178,979.83
20136-184,804.68
20137-185,271.37
20138-187,480.67
20139-191,450.67
201310-198,840.65
201311-201,866.33
201312-203,820.01
20141-203,554.97
20142-209,096.28
20143-209,518.08
20144-212,727.97
20145-219,527.43
20146-222,811.17
20147-221,859.88
20148-225,804.62
20149-219,828.51
201410-232,371.17
201411-233,844.14
201412-231,248.36
20151-237,786.67
20152-237,918.32
20153-240,008.22
20154-242,357.67
20155-241,302.20
20156-241,110.05
20157-235,264.58
20158-224,660.98
20159-234,359.87
201510-241,232.40
201511-238,571.68
201512-223,256.28
20161-222,028.57
20162-236,155.65
20163-242,841.83
20164-242,102.70
20165-244,684.70
20166-252,753.03
20167-255,784.19
20168-254,662.14
20169-253,373.60
201610-256,417.02
201611-266,535.14
201612-270,366.94
20171-277,332.80
20172-282,184.06
20173-281,749.49
20174-286,517.74
20175-291,607.52
20176-294,488.27
20177-295,218.03
20178-300,098.76
20179-308,305.85
201710-313,206.59
201711-322,237.86
201712-337,904.73
20181-328,150.48
20182-328,362.40
20183-322,898.54
20184-329,232.59
20185-336,189.17
20186-341,503.45
20187-349,873.04
20188-355,750.02
20189-342,057.25
201810-334,955.77
201811-316,323.82
201812-321,814.05
20191-340,572.28
20192-347,206.70
20193-360,133.97
20194-354,617.48
20195-359,598.96
20196-373,362.05
20197-361,659.34
20198-372,817.35
20199-372,853.90
201910-389,385.09
201911-399,000.26
201912-412,352.39
20201-412,855.78
20202-334,752.92
20203-349,209.61
20204-369,768.86
20205-393,834.42
20206-407,525.82
20207-431,543.37
20208-428,837.58
20209-436,239.32
202010-453,488.74
202011-472,807.72
202012-486,024.11
20211-498,133.54
20212-502,225.00
20213-532,466.41
20214-536,514.39
20215-546,227.57
20216-562,986.93
20217-575,289.10
20218-574,802.99
20219-577,402.11
202110-604,798.37
202111-606,403.52
202112-593,960.41
20221-576,720.29
20222-571,572.58
20223-572,248.76
20224-527,197.16
20225-509,433.86
20226-501,304.02
Click to show 1026 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 1936 to 2022
Start Value
Average monthly close
$13.76
End Value
Average monthly close
$3,831.39
Change in price+27,744.40%
+6.76% / yr
Change incl. dividends+575,641.03%
+10.53% / yr
Change incl. dividends, inflation-adjusted+26,920.88%
+6.69% / yr
Final amount, nominal
($100 base)
$575,741.03
Final amount, inflation-adjusted
($100 base)
$27,020.88