S&P 500: $100 in 1940 → $142,504.51 in 2010

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Stock market returns between 1940 and 2010

If you invested $100 in the S&P 500 at the beginning of 1940, you would have about $142,504.51 at the end of 2010, assuming you reinvested all dividends. This is a return on investment of 142,404.51%, or 10.77% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $158,609.71.

This investment result beats inflation during this period for an inflation-adjusted return of about 9,049.32% cumulatively, or 6.57% 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 $142,404.51, or 142,404.51%. This means by 2010 you would have $142,504.51 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 1940 was 14.000 and the CPI in 2010 was 218.056.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 70 years.

Adjusted for inflation, the $142,504.51 nominal end value of the original $100 investment would have a real value of roughly $9,049.32 in 1940 dollars. This means the inflation-adjusted return is 9,049.32% as opposed to the original 142,404.51%.

For more information on inflation, see our U.S. inflation calculator for 1940.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 852-month period between 1940 and 2010.

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

YearMonthReturn (%)Amount ($)CPI
19401-0.23%99.7713.90
19402-0.15%99.6314.00
194031.42%101.0414.00
19404-13.34%87.5614.00
19405-8.09%80.4714.00
194063.87%83.5914.10
194072.65%85.8014.00
194084.76%89.8814.00
194091.47%91.2014.00
1940102.85%93.8014.00
194011-3.59%90.4314.00
1940120.72%91.0914.10
19411-5.72%85.8714.10
194121.18%86.8814.10
19413-2.55%84.6714.20
19414-1.59%83.3314.30
194154.11%86.7514.40
194165.71%91.7014.70
194170.08%91.7714.70
194180.86%92.5614.90
19419-3.43%89.3815.10
194110-4.08%85.7415.30
194111-5.88%80.6915.40
1941122.62%82.8015.50
19421-2.48%80.7515.70
19422-4.76%76.9015.80
19423-3.45%74.2516.00
194241.87%75.6416.10
194255.75%79.9916.30
194264.38%83.4916.30
194270.05%83.5316.40
194281.66%84.9216.50
194297.97%91.6816.50
1942102.15%93.6616.70
1942111.06%94.6516.80
1942126.50%100.8016.90
194316.43%107.2916.90
194324.01%111.6016.90
194333.79%115.8217.20
194344.36%120.8817.40
194352.18%123.5117.50
194362.47%126.5617.50
19437-4.54%120.8217.40
194382.55%123.9017.30
19439-0.50%123.2817.40
194310-4.21%118.1017.40
1943111.77%120.1917.40
1943123.67%124.5917.40
19441-0.24%124.2917.40
194423.24%128.3217.40
19443-1.31%126.6417.40
194442.20%129.4317.50
194455.14%136.0817.50
194463.02%140.1917.60
19447-1.06%138.7117.70
19448-1.23%137.0117.70
194492.88%140.9617.70
194410-0.28%140.5617.70
1944112.60%144.2217.70
1944123.38%149.1017.80
194513.73%154.6717.80
194520.31%155.1517.80
194532.90%159.6517.80
194544.16%166.3017.80
194552.19%169.9417.90
19456-1.70%167.0518.10
194570.71%168.2318.10
194587.18%180.3118.10
194594.51%188.4518.10
1945103.61%195.2518.10
1945112.02%199.2018.10
1945124.30%207.7618.20
194610.59%208.9818.20
19462-2.68%203.3918.10
194636.77%217.1518.30
194640.52%218.2818.40
19465-0.34%217.5418.50
19466-2.55%212.0018.70
19467-1.62%208.5519.80
19468-14.42%178.4820.20
19469-1.87%175.1320.40
194610-0.01%175.1120.80
1946113.39%181.0621.30
1946120.92%182.7221.50
194714.27%190.5221.50
19472-3.67%183.5321.50
19473-3.30%177.4721.90
19474-1.36%175.0521.90
194753.92%181.9221.90
194766.69%194.1022.00
19477-1.56%191.0722.20
19478-2.17%186.9322.50
194793.03%192.5923.00
194710-0.73%191.1823.00
194711-1.12%189.0423.10
194712-0.86%187.4023.40
19481-4.45%179.0623.70
194821.92%182.5023.50
194838.19%197.4423.40
194845.33%207.9723.80
194854.59%217.5123.90
19486-1.96%213.2524.10
19487-2.49%207.9424.40
19488-0.68%206.5324.50
194893.19%213.1224.50
194810-5.10%202.2524.40
194811-0.16%201.9324.20
1948121.63%205.2224.10
19491-3.33%198.3924.00
194921.49%201.3523.80
194930.41%202.1823.80
19494-0.18%201.8123.90
19495-4.91%191.9023.80
194966.26%203.9223.90
194974.17%212.4223.70
194981.87%216.3923.80
194993.14%223.1923.90
1949101.95%227.5423.70
1949113.24%234.9223.80
1949122.63%241.0923.60
195012.52%247.1823.50
195021.38%250.5823.50
195033.39%259.0623.60
195043.91%269.2023.60
195052.16%275.0323.70
19506-6.72%256.5423.80
195076.64%273.5624.10
195084.11%284.8024.30
195094.72%298.2524.40
1950100.38%299.3724.60
1950110.19%299.9624.70
1950128.01%323.9925.00
195114.31%337.9525.40
19512-1.11%334.1925.70
195131.93%340.6325.80
195140.63%342.7725.80
19515-1.15%338.8425.90
195162.37%346.8625.90
195174.97%364.0925.90
195183.14%375.5025.90
195190.03%375.6126.10
195110-2.25%367.1526.20
1951113.61%380.4126.40
1951123.83%395.0026.50
19521-1.33%389.7326.50
195220.75%392.6626.30
195230.20%393.4526.30
195240.46%395.2626.40
195253.24%408.0926.40
195263.37%421.8326.50
195270.88%425.5426.70
19528-1.11%420.8226.70
19529-1.61%414.0426.70
1952103.67%429.2326.70
1952114.51%448.5826.70
1952120.99%453.0226.70
19531-0.77%449.5226.60
195320.96%453.8226.50
19533-4.47%433.5226.60
195341.00%437.8726.60
19535-3.11%424.2626.70
195361.91%432.3826.80
195370.90%436.2626.80
19538-4.11%418.3526.90
195393.52%433.0626.90
1953102.71%444.7927.00
1953111.84%452.9626.90
1953123.02%466.6526.90
195412.68%479.1426.90
195422.58%491.5226.90
195434.45%513.3926.90
195444.42%536.1026.80
195451.22%542.6526.90
195464.46%566.8426.90
195472.39%580.4126.90
195482.74%596.3126.90
195492.71%612.4826.80
1954104.30%638.8326.80
1954114.95%670.4726.80
1954122.17%685.0126.70
195513.70%710.3926.70
19552-0.44%707.2926.70
195533.81%734.2226.70
19554-0.08%733.6526.70
195556.15%778.7326.70
195567.64%838.2626.70
19557-0.30%835.7526.80
195584.82%876.0026.80
19559-4.72%834.6126.90
1955107.07%893.5926.90
1955111.24%904.6426.90
195512-2.39%883.0426.80
195610.95%891.4226.80
195627.21%955.6626.80
195631.48%969.8326.80
19564-2.84%942.3026.90
19565-0.26%939.8327.00
195665.75%993.8627.20
19567-0.28%991.0327.40
19568-3.09%960.4227.30
19569-0.95%951.2627.40
195610-0.71%944.4927.50
1956111.81%961.5727.50
195612-1.86%943.6627.60
19571-4.00%905.9527.60
195721.62%920.6427.70
195732.64%944.9827.80
195744.16%984.2927.90
195751.95%1,003.5328.00
195762.32%1,026.8328.10
19577-5.21%973.3828.30
19578-3.74%936.9828.30
19579-5.90%881.7328.30
195710-1.80%865.8628.30
1957110.32%868.6128.40
1957122.33%888.8428.40
195810.70%895.0828.60
195822.42%916.7328.60
195830.90%924.9528.80
195843.56%957.8528.90
195852.74%984.0528.90
195863.07%1,014.2728.90
195874.05%1,055.3929.00
195882.94%1,086.4628.90
195894.36%1,133.8228.90
1958103.33%1,171.5328.90
1958112.16%1,196.8729.00
1958124.25%1,247.7928.90
19591-1.27%1,232.0029.00
195922.81%1,266.5828.90
195931.94%1,291.1028.90
195941.77%1,313.9029.00
19595-0.61%1,305.9329.00
195964.23%1,361.1429.10
19597-0.32%1,356.8129.20
19598-3.70%1,306.5629.20
195990.18%1,308.8729.30
1959100.67%1,317.6329.40
1959113.46%1,363.2629.40
195912-1.49%1,343.0029.40
19601-3.61%1,294.5329.30
19602-1.08%1,280.5729.40
196031.58%1,300.8629.40
19604-0.62%1,292.7429.50
196053.99%1,344.2929.50
19606-2.20%1,314.7729.60
196071.49%1,334.3729.60
19608-2.72%1,298.0729.60
19609-1.67%1,276.3429.60
1960103.54%1,321.5329.80
1960112.69%1,357.0929.80
1960125.43%1,430.7429.80
196114.37%1,493.3229.80
196123.40%1,544.0529.80
196132.92%1,589.1229.80
196141.26%1,609.1929.80
19615-1.08%1,591.8129.80
19616-0.03%1,591.3729.80
196173.84%1,652.4630.00
19618-0.54%1,643.5129.90
196191.34%1,665.5830.00
1961104.77%1,745.0630.00
1961111.16%1,765.3630.00
196112-3.49%1,703.8030.00
196211.91%1,736.3330.00
196220.34%1,742.2530.10
19623-2.94%1,690.9430.10
19624-7.19%1,569.4530.20
19625-11.41%1,390.3330.20
196262.72%1,428.1130.20
196273.02%1,471.2830.30
19628-0.59%1,462.5530.30
19629-2.86%1,420.7830.40
1962107.20%1,523.0930.40
1962114.62%1,593.5130.40
1962124.15%1,659.5930.40
196311.60%1,686.0730.40
19632-0.11%1,684.2430.40
196334.98%1,768.0930.50
196342.27%1,808.2230.50
196350.22%1,812.1330.50
19636-1.22%1,789.9930.60
196373.03%1,844.2530.70
196382.89%1,897.6130.70
196390.50%1,907.1030.70
196310-0.31%1,901.2530.80
1963112.39%1,946.7630.80
1963123.33%2,011.5930.90
196411.48%2,041.3630.90
196422.07%2,083.6330.90
196431.69%2,118.9130.90
196441.22%2,144.7730.90
19645-0.35%2,137.2530.90
196463.96%2,221.9131.00
19647-1.23%2,194.6731.10
196481.97%2,237.8131.00
196491.97%2,281.9031.10
1964100.94%2,303.2831.10
196411-1.49%2,268.9531.20
1964122.82%2,332.9531.20
196510.98%2,355.7031.20
196520.34%2,363.6131.20
196531.56%2,400.4231.30
196541.73%2,442.0131.40
19655-4.51%2,331.9431.40
196560.10%2,334.3431.60
196572.12%2,383.8031.60
196583.60%2,469.5231.60
196592.50%2,531.1831.60
1965101.08%2,558.4231.70
196511-0.21%2,553.0031.70
1965121.98%2,603.5631.80
19661-0.43%2,592.3631.80
19662-3.86%2,492.2332.00
196633.32%2,575.0032.10
19664-5.01%2,446.0532.30
19665-0.56%2,432.3732.30
196660.02%2,432.8132.40
19667-5.77%2,292.4532.50
19668-3.22%2,218.5332.70
19669-0.56%2,206.0032.70
1966105.32%2,323.2832.90
1966110.72%2,339.9132.90
1966124.13%2,436.5532.90
196713.73%2,527.4332.90
196722.63%2,594.0032.90
196731.99%2,645.6933.00
196742.06%2,700.1333.10
19675-0.99%2,673.3433.20
196761.99%2,726.6133.30
196771.85%2,777.1033.40
196781.65%2,823.0333.50
196790.10%2,825.7833.60
196710-2.88%2,744.3533.70
1967113.11%2,829.7433.80
196712-0.02%2,829.2533.90
19681-4.26%2,708.8134.10
19682-1.56%2,666.5734.20
196837.66%2,870.8834.30
196842.56%2,944.3034.40
196852.94%3,030.8934.50
196860.05%3,032.3734.70
19687-1.93%2,973.7334.90
196883.51%3,078.0335.00
196892.72%3,161.6735.10
1968101.79%3,218.1335.30
1968111.29%3,259.4935.40
196812-3.99%3,129.6035.50
19691-0.24%3,122.1335.60
19692-1.91%3,062.3835.80
196932.27%3,132.0336.10
196943.51%3,242.0736.30
19695-4.97%3,080.9036.40
19696-4.21%2,951.3436.60
19697-0.28%2,942.9636.80
196980.63%2,961.4637.00
196991.35%3,001.3437.10
1969101.00%3,031.2737.30
196911-5.03%2,878.8837.50
196912-0.59%2,861.9237.70
19701-3.20%2,770.4537.80
197022.01%2,826.2038.00
19703-2.75%2,748.5438.20
19704-11.20%2,440.7338.50
19705-0.27%2,434.1538.60
197060.52%2,446.8738.80
197073.26%2,526.5339.00
197086.32%2,686.2439.00
197092.49%2,753.1139.20
1970100.21%2,758.8139.40
1970117.16%2,956.2939.60
1970124.11%3,077.8139.80
197114.15%3,205.5839.80
197122.83%3,296.3539.90
197133.67%3,417.4640.00
19714-1.11%3,379.6040.10
19715-1.60%3,325.6640.30
19716-0.46%3,310.2740.60
19717-1.52%3,260.0440.70
197182.49%3,341.1040.80
19719-1.86%3,278.8440.80
197110-4.37%3,135.5040.90
1971117.16%3,360.1140.90
1971124.42%3,508.7241.10
197212.09%3,581.9441.10
197222.62%3,675.7841.30
197231.26%3,722.0541.40
19724-0.78%3,693.1741.50
197250.52%3,712.2341.60
19726-0.50%3,693.5341.70
197273.78%3,833.2841.90
19728-1.21%3,786.8842.00
197290.42%3,802.6942.10
1972105.25%4,002.4942.30
1972112.31%4,095.0042.40
1972120.99%4,135.5242.50
19731-3.33%3,998.0142.60
19732-1.35%3,944.2242.90
19733-1.63%3,879.8043.30
19734-2.57%3,780.1043.60
19735-1.99%3,704.8843.90
197361.21%3,749.7244.20
19737-1.64%3,688.4044.30
197382.00%3,761.9945.10
197394.24%3,921.3245.20
197310-6.85%3,652.6045.60
197311-6.81%3,404.0345.90
1973121.70%3,461.9146.20
19741-2.47%3,376.3146.60
197424.57%3,530.7647.20
19743-4.82%3,360.7047.80
19744-2.71%3,269.7748.00
197450.46%3,284.7248.60
19746-11.35%2,912.0049.00
19747-3.76%2,802.3749.40
19748-10.01%2,521.7650.00
197492.38%2,581.7050.60
1974103.74%2,678.3451.10
197411-6.09%2,515.1851.50
1974128.63%2,732.3151.90
1975110.81%3,027.6152.10
197524.97%3,178.1952.50
197531.49%3,225.4552.70
197546.71%3,441.9652.90
197552.89%3,541.5953.20
197560.43%3,556.8953.60
19757-7.00%3,308.0454.20
19758-0.85%3,279.8454.30
197594.97%3,442.8954.60
1975102.04%3,513.1854.90
197511-1.18%3,471.7455.30
1975129.55%3,803.1255.50
197614.18%3,962.0255.60
197620.80%3,993.8255.80
197631.10%4,037.5755.90
19764-0.38%4,022.0956.10
197650.90%4,058.3156.50
197662.67%4,166.4856.80
19767-0.56%4,143.1257.10
197682.44%4,244.1357.40
19769-3.11%4,112.2157.60
197610-0.37%4,097.1357.90
1976113.79%4,252.2758.00
197612-0.54%4,229.4358.20
19771-2.37%4,129.2558.50
19772-0.05%4,127.0159.10
19773-1.19%4,077.7559.50
197740.06%4,080.3860.00
197750.90%4,117.0960.30
197761.28%4,169.8960.70
19777-2.08%4,083.2261.00
19778-1.18%4,035.2261.20
19779-2.20%3,946.5461.40
1977100.98%3,985.2661.60
197711-0.08%3,982.0661.90
197712-3.39%3,847.0662.10
19781-0.97%3,809.6662.50
197820.27%3,819.7862.90
197834.83%4,004.2863.40
197845.50%4,224.6963.90
197850.67%4,253.1464.50
19786-0.06%4,250.4965.20
197877.33%4,561.9865.70
197880.40%4,580.2166.00
19789-2.77%4,453.1866.50
197810-5.44%4,211.0367.10
1978111.92%4,292.0067.40
1978124.19%4,471.6367.70
19791-1.06%4,424.3768.30
197922.34%4,527.9569.10
197932.43%4,638.0269.80
19794-1.89%4,550.2270.60
197952.42%4,660.2371.50
197961.42%4,726.4572.30
197975.01%4,963.4573.10
197981.54%5,039.9173.80
19799-3.35%4,870.9474.60
197910-0.32%4,855.2475.20
1979114.40%5,069.0675.90
1979123.31%5,236.9776.70
198014.40%5,467.1877.80
19802-8.78%4,987.2878.90
19803-1.16%4,929.3380.10
198045.04%5,177.5781.00
198056.86%5,532.9081.80
198064.97%5,807.8582.70
198073.50%6,011.4082.70
198082.84%6,181.8783.30
198093.32%6,387.4084.00
1980104.61%6,682.1684.80
198011-1.24%6,598.9885.50
1980120.01%6,599.6486.30
19811-3.07%6,397.0287.00
198124.14%6,662.0787.90
198131.29%6,748.2688.50
19814-1.62%6,639.1289.10
198150.86%6,696.0689.80
19816-2.02%6,561.0590.60
198170.80%6,613.7191.60
19818-8.30%6,064.5992.30
198191.73%6,169.3493.20
1981103.04%6,357.1293.40
1981111.18%6,432.1093.70
198112-4.80%6,123.0994.00
19821-1.91%6,005.9094.30
19822-2.74%5,841.0794.60
198235.47%6,160.5394.50
198240.57%6,195.6394.90
19825-5.27%5,869.0895.80
198260.24%5,883.3997.00
198270.79%5,930.1097.50
1982812.10%6,647.4397.70
198298.88%7,237.8197.90
1982104.50%7,563.5198.20
1982111.36%7,666.0398.00
1982123.93%7,966.9897.60
198312.13%8,136.6897.80
198323.87%8,451.2197.90
198334.20%8,805.9497.90
198344.42%9,195.5298.60
198351.75%9,356.7699.20
198360.71%9,423.0299.50
19837-2.41%9,196.1999.90
198383.31%9,500.94100.20
198390.65%9,562.50100.70
198310-1.14%9,453.35101.00
198311-0.13%9,441.24101.20
1983121.58%9,590.02101.30
19841-5.11%9,099.77101.90
198420.44%9,140.02102.40
198430.51%9,186.38102.60
19844-0.25%9,163.17103.10
19845-1.85%8,993.81103.40
19846-0.91%8,912.11103.70
198479.21%9,732.61104.10
198481.41%9,869.54104.50
19849-0.41%9,828.84105.00
1984101.29%9,955.23105.30
198411-0.71%9,884.79105.30
1984124.70%10,349.13105.30
198515.79%10,948.08105.50
19852-0.48%10,895.71106.00
198531.02%11,007.36106.40
198542.74%11,308.48106.90
198552.51%11,592.43107.30
198562.25%11,852.94107.60
19857-1.85%11,634.22107.80
19858-1.88%11,414.91108.00
198591.50%11,585.63108.30
1985106.42%12,329.49108.70
1985115.29%12,982.27109.00
1985120.75%13,079.86109.30
198615.70%13,825.06109.60
198626.18%14,679.83109.30
198632.74%15,082.26108.80
198640.49%15,156.44108.60
198653.13%15,631.33108.90
19866-1.80%15,349.35109.50
198672.28%15,699.45109.50
19868-2.46%15,313.84109.70
19869-0.09%15,300.07110.20
1986103.53%15,840.62110.30
1986111.71%16,111.32110.40
1986126.67%17,186.49110.50
198716.46%18,297.06111.20
198724.38%19,097.82111.60
19873-0.86%18,934.26112.10
198740.17%18,966.98112.70
198754.50%19,820.20113.10
198763.12%20,439.01113.50
198776.45%21,758.15113.80
19878-3.03%21,098.78114.40
19879-11.85%18,597.76115.00
198710-12.30%16,309.60115.30
198711-1.33%16,091.91115.40
1987124.25%16,775.26115.40
198813.33%17,333.64115.70
198823.23%17,893.87116.00
19883-0.89%17,735.33116.50
19884-2.19%17,347.23117.10
198856.00%18,387.75117.50
19886-0.31%18,331.32118.00
19887-1.72%18,016.30118.50
198881.93%18,363.50119.00
198893.80%19,061.61119.80
198810-2.02%18,676.52120.20
1988112.33%19,110.93120.30
1988123.51%19,782.23120.50
198913.30%20,435.01121.10
19892-0.16%20,401.98121.60
198933.56%21,129.27122.30
198944.12%21,998.80123.10
198953.39%22,745.14123.80
198962.80%23,382.04124.10
198974.69%24,478.83124.40
198980.46%24,590.34124.60
198990.29%24,660.74125.00
198910-1.81%24,213.50125.60
1989112.74%24,876.15125.90
198912-2.21%24,326.08126.10
19901-2.53%23,711.32127.40
199022.71%24,353.22128.00
199030.20%24,400.95128.70
199043.85%25,340.62128.90
199053.17%26,143.90129.20
199060.17%26,188.28129.90
19907-7.86%24,129.56130.40
19908-4.34%23,082.08131.60
19909-2.32%22,547.55132.70
1990102.98%23,220.33133.50
1990114.59%24,285.35133.80
199012-0.69%24,118.95133.80
1991111.61%26,918.39134.60
199123.04%27,737.95134.80
199132.26%28,364.50135.00
19914-0.18%28,313.76135.20
199150.35%28,412.02135.60
199160.78%28,633.77136.00
199172.68%29,400.85136.20
19918-0.30%29,311.73136.60
199190.18%29,364.98137.20
1991100.02%29,369.62137.40
1991110.94%29,644.26137.80
1991127.36%31,825.50137.90
19921-0.60%31,634.27138.10
19922-1.01%31,314.01138.60
199230.26%31,396.78139.30
199242.07%32,046.17139.50
19925-1.33%31,620.24139.70
199261.91%32,224.86140.20
199270.94%32,528.33140.50
199280.38%32,651.35140.90
19929-1.18%32,265.39141.30
1992102.76%33,154.92141.80
1992113.27%34,239.48142.00
1992120.14%34,288.41141.90
199311.72%34,879.62142.60
199322.15%35,629.59143.10
19933-1.34%35,151.53143.60
199340.72%35,406.28144.00
199350.87%35,712.61144.20
199360.06%35,734.40144.40
199371.76%36,364.20144.40
199381.35%36,856.93144.80
199391.24%37,314.66145.10
1993100.01%37,317.47145.70
1993110.89%37,648.55145.80
1993121.74%38,302.08145.80
19941-0.08%38,273.08146.20
19942-1.42%37,728.14146.70
19943-3.35%36,465.62147.20
199441.06%36,851.51147.40
199451.11%37,259.86147.50
19946-0.52%37,066.53148.00
199473.08%38,208.95148.40
199480.82%38,521.29149.00
19949-0.44%38,350.26149.40
199410-0.37%38,208.41149.50
199411-1.03%37,816.50149.70
1994122.45%38,743.45149.70
199513.82%40,223.10150.30
199522.56%41,252.07150.90
199533.22%42,578.55151.40
199543.35%44,003.98151.90
199553.18%45,402.61152.20
199563.55%47,013.26152.50
199570.51%47,254.50152.50
199583.72%49,011.26152.90
199590.91%49,458.52153.20
1995102.36%50,624.95153.70
1995113.39%52,340.69153.60
1995120.16%52,425.79153.50
199615.90%55,521.22154.40
19962-0.20%55,409.79154.90
199630.20%55,518.97155.70
199642.35%56,826.34156.30
199651.28%57,552.92156.60
19966-3.48%55,552.05156.70
199673.08%57,260.70157.00
199682.02%58,419.50157.30
199694.12%60,826.09157.80
1996105.05%63,899.07158.30
1996111.20%64,664.73158.60
1996123.26%66,771.21158.60
199714.36%69,683.21159.10
19972-0.62%69,248.61159.60
19973-3.41%66,890.52160.00
199749.22%73,056.38160.20
199755.34%76,955.27160.10
199765.74%81,369.36160.30
199770.35%81,652.36160.50
199781.19%82,625.66160.80
199791.65%83,985.16161.20
199710-1.15%83,017.62161.60
1997112.63%85,204.81161.50
1997120.24%85,406.82161.30
199816.40%90,874.70161.60
199825.31%95,702.76161.90
199833.41%98,962.08162.20
19984-0.22%98,742.53162.50
199850.12%98,857.52162.80
199864.47%103,274.15163.00
19987-6.97%96,074.90163.20
19988-4.90%91,368.72163.40
199891.29%92,548.16163.60
19981010.97%102,704.75164.00
1998114.10%106,919.86164.00
1998125.05%112,316.84163.90
19991-0.07%112,241.91164.30
199922.92%115,523.31164.50
199934.25%120,433.08165.00
19994-0.10%120,314.05166.20
19995-0.61%119,578.01166.20
199964.52%124,985.79166.20
19997-3.77%120,268.35166.70
19998-0.60%119,549.12167.10
19999-1.27%118,027.89167.90
1999107.11%126,414.90168.20
1999112.81%129,965.55168.30
199912-0.12%129,810.98168.30
20001-2.48%126,594.16168.80
200023.94%131,583.18169.80
200031.42%133,457.80171.20
20004-2.84%129,669.21171.30
200053.16%133,771.27171.50
200060.85%134,908.78172.40
200070.94%136,176.53172.80
20008-1.08%134,706.30172.80
20009-5.21%127,682.41173.70
200010-0.77%126,695.98174.00
200011-3.32%122,489.58174.10
2000120.46%123,046.92174.00
20011-2.14%120,418.32175.10
20012-9.08%109,484.45175.80
200130.45%109,975.70176.20
200146.88%117,541.30176.90
20015-2.39%114,733.64177.70
20016-2.66%111,681.47178.00
20017-2.05%109,396.64177.50
20018-11.25%97,092.45177.50
200193.18%100,183.90178.30
2001105.05%105,246.34177.70
2001111.47%106,789.30177.40
200112-0.30%106,471.40176.70
20021-3.35%102,901.66177.10
200224.95%107,990.43177.80
20023-3.51%104,195.18178.80
20024-2.82%101,256.49179.80
20025-5.92%95,261.13179.80
20026-10.76%85,012.46179.90
200271.14%85,980.58180.10
20028-4.76%81,889.86180.70
20029-1.37%80,770.39181.00
2002106.63%86,121.89181.30
200211-1.04%85,230.48181.30
200212-0.22%85,040.82180.90
20031-6.41%79,585.59181.70
200321.31%80,626.49183.10
200335.29%84,888.29184.20
200345.31%89,397.74183.80
200355.70%94,497.15183.50
200360.60%95,060.26183.70
20037-0.17%94,902.15183.90
200383.16%97,902.18184.60
200392.03%99,887.47185.20
2003101.21%101,096.70185.00
2003113.06%104,194.11184.50
2003124.93%109,336.05184.30
200411.09%110,524.16185.20
20042-1.57%108,794.24186.20
200430.97%109,847.52187.40
20044-2.56%107,030.75188.00
200452.86%110,089.34189.10
20046-2.24%107,624.68189.70
20047-1.39%106,131.31189.40
200482.78%109,084.55189.50
200490.10%109,196.47189.90
2004104.77%114,409.39190.90
2004112.73%117,529.85191.00
200412-1.35%115,944.11190.30
200511.68%117,893.37190.70
20052-0.26%117,592.05191.80
20053-2.41%114,759.35193.30
200541.34%116,292.39194.60
200552.18%118,828.37194.40
200561.81%120,976.54194.50
200570.31%121,351.59195.40
200580.28%121,691.00196.40
20059-2.62%118,497.56198.80
2005103.96%123,191.89199.20
2005112.14%125,833.29197.60
2005121.47%127,678.97196.80
20061-0.02%127,657.73198.30
200621.49%129,554.90198.70
200630.80%130,589.17199.80
20064-0.79%129,561.91201.50
20065-2.71%126,056.24202.50
200660.72%126,963.89202.90
200672.29%129,873.60203.50
200682.53%133,160.93203.90
200693.62%137,975.91202.90
2006102.00%140,737.69201.80
2006112.15%143,761.11201.50
2006120.69%144,757.13201.80
200711.60%147,067.52202.42
20072-2.47%143,429.23203.50
200734.18%149,424.94205.35
200743.39%154,493.07206.69
200750.34%155,025.92207.95
200760.57%155,916.73208.35
20077-4.20%149,366.50208.30
200783.07%153,959.14207.92
200792.99%158,565.03208.49
200710-4.81%150,943.90208.94
2007111.24%152,812.92210.18
200712-6.64%142,673.48210.04
20081-1.56%140,442.12211.08
20082-2.63%136,753.21211.69
200834.24%142,556.75213.53
200842.56%146,209.91214.82
20085-4.25%140,000.99216.63
20086-6.08%131,491.07218.82
200872.11%134,266.24219.96
20088-4.85%127,757.63219.09
20089-20.19%101,958.79218.78
200810-8.61%93,184.88216.57
200811-0.35%92,857.60212.43
200812-1.10%91,840.29210.23
20091-6.70%85,684.69211.14
20092-5.69%80,811.42212.19
2009312.32%90,768.81212.71
200946.66%96,813.85213.24
200952.87%99,591.30213.86
200961.28%100,863.72215.69
200978.12%109,054.61215.35
200983.65%113,035.48215.83
200992.40%115,751.84215.97
2009102.09%118,176.06216.18
2009112.23%120,806.49216.33
2009121.36%122,445.80215.95
20101-2.90%118,896.74216.69
201025.94%125,962.81216.74
201034.09%131,112.09217.63
20104-5.88%123,399.55218.01
20105-3.54%119,026.81218.18
20106-0.16%118,837.47217.97
201070.86%119,863.77218.01
201083.37%123,904.56218.31
201094.58%129,576.21218.44
2010102.49%132,803.84218.71
2010113.71%137,735.83218.80
2010123.46%142,504.51219.18
Click to show 834 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 1940. This would result in a final amount of $158,609.71, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $142,504.51).

YearMonthContribution ($)Amount ($)
194014.164.13
194024.168.26
194034.1612.58
194044.1614.49
194054.1617.12
194064.1622.08
194074.1626.91
194084.1632.53
194094.1637.20
1940104.1642.52
1940114.1644.98
1940124.1649.48
194114.1650.54
194124.1655.32
194134.1657.95
194144.1661.09
194154.1667.91
194164.1676.16
194174.1680.36
194184.1685.22
194194.1686.29
1941104.1686.73
1941114.1685.52
1941124.3292.16
19421-89.88
19422-85.60
19423-82.64
19424-84.19
19425-89.03
19426-92.93
19427-92.97
19428-94.51
19429-102.04
194210-104.24
194211-105.34
194212-112.20
19431-119.41
19432-124.21
19433-128.91
19434-134.54
19435-137.47
19436-140.87
19437-134.47
19438-137.91
19439-137.22
194310-131.44
194311-133.77
194312-138.68
19441-138.34
19442-142.82
19443-140.95
19444-144.06
19445-151.46
19446-156.04
19447-154.39
19448-152.50
19449-156.90
194410-156.45
194411-160.52
194412-165.95
19451-172.15
19452-172.69
19453-177.70
19454-185.09
19455-189.14
19456-185.93
19457-187.25
19458-200.69
19459-209.75
194510-217.31
194511-221.71
194512-231.24
19461-232.60
19462-226.37
19463-241.69
19464-242.95
19465-242.12
19466-235.96
19467-232.12
19468-198.65
19469-194.93
194610-194.90
194611-201.52
194612-203.37
19471-212.05
19472-204.27
19473-197.53
19474-194.84
19475-202.48
19476-216.03
19477-212.66
19478-208.05
19479-214.35
194710-212.79
194711-210.40
194712-208.58
19481-199.30
19482-203.13
19483-219.76
19484-231.47
19485-242.09
19486-237.35
19487-231.44
19488-229.87
19489-237.20
194810-225.10
194811-224.75
194812-228.41
19491-220.81
19492-224.10
19493-225.03
19494-224.62
19495-213.58
19496-226.96
19497-236.43
19498-240.85
19499-248.42
194910-253.26
194911-261.46
194912-268.34
19501-275.11
19502-278.89
19503-288.34
19504-299.62
19505-306.11
19506-285.53
19507-304.48
19508-316.99
19509-331.96
195010-333.21
195011-333.85
195012-360.61
19511-376.14
19512-371.96
19513-379.12
19514-381.51
19515-377.14
19516-386.06
19517-405.23
19518-417.94
19519-418.06
195110-408.64
195111-423.40
195112-439.64
19521-433.78
19522-437.03
19523-437.92
19524-439.93
19525-454.21
19526-469.50
19527-473.63
19528-468.38
19529-460.84
195210-477.74
195211-499.28
195212-504.22
19531-500.32
19532-505.11
19533-482.51
19534-487.35
19535-472.21
19536-481.24
19537-485.57
19538-465.63
19539-482.00
195310-495.06
195311-504.15
195312-519.39
19541-533.29
19542-547.07
19543-571.41
19544-596.68
19545-603.98
19546-630.90
19547-646.01
19548-663.71
19549-681.70
195410-711.03
195411-746.25
195412-762.43
19551-790.67
19552-787.22
19553-817.20
19554-816.56
19555-866.74
19556-932.99
19557-930.20
19558-975.00
19559-928.94
195510-994.58
195511-1,006.88
195512-982.84
19561-992.17
19562-1,063.67
19563-1,079.44
19564-1,048.80
19565-1,046.05
19566-1,106.19
19567-1,103.04
19568-1,068.96
19569-1,058.77
195610-1,051.23
195611-1,070.24
195612-1,050.31
19571-1,008.34
19572-1,024.68
19573-1,051.78
19574-1,095.53
19575-1,116.94
19576-1,142.88
19577-1,083.39
19578-1,042.88
19579-981.38
195710-963.71
195711-966.78
195712-989.29
19581-996.23
19582-1,020.33
19583-1,029.48
19584-1,066.11
19585-1,095.27
19586-1,128.90
19587-1,174.67
19588-1,209.25
19589-1,261.96
195810-1,303.93
195811-1,332.13
195812-1,388.81
19591-1,371.24
19592-1,409.72
19593-1,437.02
19594-1,462.39
19595-1,453.52
19596-1,514.97
19597-1,510.15
19598-1,454.22
19599-1,456.79
195910-1,466.54
195911-1,517.33
195912-1,494.78
19601-1,440.83
19602-1,425.30
19603-1,447.88
19604-1,438.84
19605-1,496.22
19606-1,463.36
19607-1,485.18
19608-1,444.77
19609-1,420.58
196010-1,470.88
196011-1,510.46
196012-1,592.43
19611-1,662.09
19612-1,718.55
19613-1,768.71
19614-1,791.06
19615-1,771.71
19616-1,771.22
19617-1,839.21
19618-1,829.25
19619-1,853.82
196110-1,942.28
196111-1,964.87
196112-1,896.35
19621-1,932.56
19622-1,939.15
19623-1,882.05
19624-1,746.82
19625-1,547.46
19626-1,589.51
19627-1,637.56
19628-1,627.85
19629-1,581.35
196210-1,695.22
196211-1,773.60
196212-1,847.15
19631-1,876.62
19632-1,874.59
19633-1,967.91
19634-2,012.57
19635-2,016.93
19636-1,992.29
19637-2,052.68
19638-2,112.07
19639-2,122.63
196310-2,116.12
196311-2,166.77
196312-2,238.93
19641-2,272.06
19642-2,319.12
19643-2,358.38
19644-2,387.16
19645-2,378.79
19646-2,473.02
19647-2,442.71
19648-2,490.72
19649-2,539.79
196410-2,563.58
196411-2,525.38
196412-2,596.61
19651-2,621.93
19652-2,630.73
19653-2,671.71
19654-2,718.00
19655-2,595.49
19656-2,598.16
19657-2,653.20
19658-2,748.62
19659-2,817.24
196510-2,847.56
196511-2,841.53
196512-2,897.81
19661-2,885.33
19662-2,773.89
19663-2,866.01
19664-2,722.49
19665-2,707.26
19666-2,707.76
19667-2,551.54
19668-2,469.25
19669-2,455.32
196610-2,585.84
196611-2,604.35
196612-2,711.92
19671-2,813.07
19672-2,887.16
19673-2,944.69
19674-3,005.28
19675-2,975.47
19676-3,034.76
19677-3,090.95
19678-3,142.07
19679-3,145.13
196710-3,054.50
196711-3,149.55
196712-3,149.00
19681-3,014.94
19682-2,967.93
19683-3,195.33
19684-3,277.06
19685-3,373.42
19686-3,375.07
19687-3,309.80
19688-3,425.90
19689-3,518.99
196810-3,581.83
196811-3,627.87
196812-3,483.29
19691-3,474.98
19692-3,408.48
19693-3,485.99
19694-3,608.47
19695-3,429.09
19696-3,284.88
19697-3,275.57
19698-3,296.15
19699-3,340.53
196910-3,373.85
196911-3,204.23
196912-3,185.36
19701-3,083.55
19702-3,145.60
19703-3,059.17
19704-2,716.57
19705-2,709.24
19706-2,723.40
19707-2,812.07
19708-2,989.83
19709-3,064.26
197010-3,070.59
197011-3,290.40
197012-3,425.65
19711-3,567.86
19712-3,668.89
19713-3,803.68
19714-3,761.54
19715-3,701.51
19716-3,684.38
19717-3,628.48
19718-3,718.70
19719-3,649.39
197110-3,489.86
197111-3,739.86
197112-3,905.26
19721-3,986.76
19722-4,091.20
19723-4,142.70
19724-4,110.56
19725-4,131.77
19726-4,110.95
19727-4,266.50
19728-4,214.85
19729-4,232.45
197210-4,454.83
197211-4,557.80
197212-4,602.90
19731-4,449.84
19732-4,389.98
19733-4,318.28
19734-4,207.31
19735-4,123.59
19736-4,173.50
19737-4,105.24
19738-4,187.15
19739-4,364.49
197310-4,065.40
197311-3,788.74
197312-3,853.16
19741-3,757.88
19742-3,929.79
19743-3,740.51
19744-3,639.30
19745-3,655.94
19746-3,241.11
19747-3,119.09
19748-2,806.75
19749-2,873.47
197410-2,981.03
197411-2,799.44
197412-3,041.10
19751-3,369.77
19752-3,537.37
19753-3,589.97
19754-3,830.96
19755-3,941.85
19756-3,958.88
19757-3,681.90
19758-3,650.51
19759-3,831.99
197510-3,910.22
197511-3,864.10
197512-4,232.94
19761-4,409.79
19762-4,445.18
19763-4,493.87
19764-4,476.65
19765-4,516.96
19766-4,637.36
19767-4,611.36
19768-4,723.78
19769-4,576.95
197610-4,560.17
197611-4,732.84
197612-4,707.42
19771-4,595.92
19772-4,593.43
19773-4,538.60
19774-4,541.52
19775-4,582.39
19776-4,641.15
19777-4,544.68
19778-4,491.27
19779-4,392.55
197710-4,435.65
197711-4,432.10
197712-4,281.83
19781-4,240.21
19782-4,251.48
19783-4,456.82
19784-4,702.14
19785-4,733.81
19786-4,730.87
19787-5,077.55
19788-5,097.84
19789-4,956.46
197810-4,686.94
197811-4,777.06
197812-4,977.00
19791-4,924.39
19792-5,039.68
19793-5,162.19
19794-5,064.47
19795-5,186.91
19796-5,260.61
19797-5,524.39
19798-5,609.49
19799-5,421.43
197910-5,403.95
197911-5,641.94
197912-5,828.83
19801-6,085.06
19802-5,550.92
19803-5,486.42
19804-5,762.72
19805-6,158.20
19806-6,464.23
19807-6,690.78
19808-6,880.52
19809-7,109.28
198010-7,437.35
198011-7,344.77
198012-7,345.50
19811-7,119.98
19812-7,414.99
19813-7,510.92
19814-7,389.45
19815-7,452.82
19816-7,302.55
19817-7,361.16
19818-6,749.99
19819-6,866.57
198110-7,075.57
198111-7,159.02
198112-6,815.09
19821-6,684.66
19822-6,501.20
19823-6,856.77
19824-6,895.83
19825-6,532.37
19826-6,548.30
19827-6,600.30
19828-7,398.69
19829-8,055.80
198210-8,418.30
198211-8,532.41
198212-8,867.37
19831-9,056.25
19832-9,406.33
19833-9,801.15
19834-10,234.76
19835-10,414.22
19836-10,487.97
19837-10,235.50
19838-10,574.69
19839-10,643.21
198310-10,521.72
198311-10,508.24
198312-10,673.85
19841-10,128.18
19842-10,172.98
19843-10,224.58
19844-10,198.75
19845-10,010.25
19846-9,919.31
19847-10,832.54
19848-10,984.95
19849-10,939.65
198410-11,080.32
198411-11,001.92
198412-11,518.75
19851-12,185.38
19852-12,127.09
19853-12,251.36
19854-12,586.51
19855-12,902.55
19856-13,192.50
19857-12,949.06
19858-12,704.97
19859-12,894.98
198510-13,722.91
198511-14,449.47
198512-14,558.09
19861-15,387.50
19862-16,338.87
19863-16,786.79
19864-16,869.35
19865-17,397.91
19866-17,084.07
19867-17,473.73
19868-17,044.54
19869-17,029.22
198610-17,630.85
198611-17,932.15
198612-19,128.83
19871-20,364.91
19872-21,256.16
19873-21,074.12
19874-21,110.55
19875-22,060.19
19876-22,748.93
19877-24,217.15
19878-23,483.27
19879-20,699.59
198710-18,152.83
198711-17,910.55
198712-18,671.13
19881-19,292.61
19882-19,916.16
19883-19,739.69
19884-19,307.74
19885-20,465.85
19886-20,403.04
19887-20,052.42
19888-20,438.86
19889-21,215.87
198810-20,787.25
198811-21,270.76
198812-22,017.92
19891-22,744.48
19892-22,707.72
19893-23,517.20
19894-24,485.00
19895-25,315.69
19896-26,024.57
19897-27,245.32
19898-27,369.43
19899-27,447.78
198910-26,950.00
198911-27,687.54
198912-27,075.31
19901-26,391.06
19902-27,105.51
19903-27,158.64
19904-28,204.50
19905-29,098.57
19906-29,147.95
19907-26,856.57
19908-25,690.71
19909-25,095.77
199010-25,844.58
199011-27,029.97
199012-26,844.77
19911-29,960.58
19912-30,872.77
19913-31,570.13
19914-31,513.66
19915-31,623.01
19916-31,869.83
19917-32,723.60
19918-32,624.41
19919-32,683.67
199110-32,688.84
199111-32,994.52
199112-35,422.27
19921-35,209.43
19922-34,852.98
19923-34,945.10
19924-35,667.89
19925-35,193.82
19926-35,866.77
19927-36,204.53
19928-36,341.45
19929-35,911.88
199210-36,901.93
199211-38,109.07
199212-38,163.52
19931-38,821.56
19932-39,656.28
19933-39,124.19
19934-39,407.74
19935-39,748.69
19936-39,772.93
19937-40,473.92
19938-41,022.33
19939-41,531.79
199310-41,534.92
199311-41,903.41
199312-42,630.80
19941-42,598.53
19942-41,992.01
19943-40,586.80
19944-41,016.30
19945-41,470.80
19946-41,255.62
19947-42,527.15
19948-42,874.79
19949-42,684.43
199410-42,526.54
199411-42,090.35
199412-43,122.05
19951-44,768.93
19952-45,914.19
19953-47,390.59
19954-48,977.11
19955-50,533.81
19956-52,326.49
19957-52,594.99
19958-54,550.29
19959-55,048.10
199510-56,346.35
199511-58,256.00
199512-58,350.71
19961-61,795.97
19962-61,671.95
19963-61,793.47
19964-63,248.59
19965-64,057.29
19966-61,830.29
19967-63,732.04
19968-65,021.80
19969-67,700.37
199610-71,120.65
199611-71,972.84
199612-74,317.38
19971-77,558.49
19972-77,074.77
19973-74,450.18
19974-81,312.87
19975-85,652.40
19976-90,565.35
19977-90,880.33
19978-91,963.63
19979-93,476.78
199710-92,399.89
199711-94,834.27
199712-95,059.11
19981-101,144.94
19982-106,518.65
19983-110,146.33
19984-109,901.96
19985-110,029.95
19986-114,945.72
19987-106,932.84
19988-101,694.79
19989-103,007.53
199810-114,311.97
199811-119,003.45
199812-125,010.37
19991-124,926.98
19992-128,579.23
19993-134,043.88
19994-133,911.40
19995-133,092.17
19996-139,111.11
19997-133,860.52
19998-133,060.02
19999-131,366.87
199910-140,701.73
199911-144,653.66
199912-144,481.62
20001-140,901.26
20002-146,454.11
20003-148,540.59
20004-144,323.83
20005-148,889.48
20006-150,155.55
20007-151,566.58
20008-149,930.19
20009-142,112.49
200010-141,014.58
200011-136,332.79
200012-136,953.12
20011-134,027.44
20012-121,857.88
20013-122,404.65
20014-130,825.27
20015-127,700.31
20016-124,303.19
20017-121,760.15
20018-108,065.39
20019-111,506.23
200110-117,140.80
200111-118,858.14
200112-118,504.31
20021-114,531.14
20022-120,195.01
20023-115,970.84
20024-112,700.03
20025-106,027.11
20026-94,620.18
20027-95,697.71
20028-91,144.67
20029-89,898.68
200210-95,854.99
200211-94,862.83
200212-94,651.75
20031-88,579.99
20032-89,738.53
20033-94,481.98
20034-99,501.06
20035-105,176.79
20036-105,803.54
20037-105,627.56
20038-108,966.64
20039-111,176.30
200310-112,522.18
200311-115,969.65
200312-121,692.70
20041-123,015.09
20042-121,089.66
20043-122,261.98
20044-119,126.87
20045-122,531.13
20046-119,787.93
20047-118,125.79
20048-121,412.79
20049-121,537.35
200410-127,339.42
200411-130,812.53
200412-129,047.58
20051-131,217.14
20052-130,881.76
20053-127,728.93
20054-129,435.22
20055-132,257.81
20056-134,648.76
20057-135,066.19
20058-135,443.96
20059-131,889.61
200510-137,114.48
200511-140,054.39
200512-142,108.67
20061-142,085.02
20062-144,196.60
20063-145,347.76
20064-144,204.41
20065-140,302.53
20066-141,312.77
20067-144,551.32
20068-148,210.16
20069-153,569.31
200610-156,643.22
200611-160,008.33
200612-161,116.91
20071-163,688.42
20072-159,638.94
20073-166,312.27
20074-171,953.17
20075-172,546.24
20076-173,537.72
20077-166,247.22
20078-171,358.89
20079-176,485.32
200710-168,002.89
200711-170,083.14
200712-158,797.78
20081-156,314.24
20082-152,208.43
20083-158,667.86
20084-162,733.89
20085-155,823.26
20086-146,351.59
20087-149,440.39
20088-142,196.21
20089-113,481.70
200810-103,716.20
200811-103,351.94
200812-102,219.66
20091-95,368.38
20092-89,944.36
20093-101,027.08
20094-107,755.30
20095-110,846.65
20096-112,262.88
20097-121,379.46
20098-125,810.23
20099-128,833.58
200910-131,531.78
200911-134,459.49
200912-136,284.06
20101-132,333.90
20102-140,198.55
20103-145,929.77
20104-137,345.60
20105-132,478.68
20106-132,267.94
20107-133,410.22
20108-137,907.68
20109-144,220.32
201010-147,812.72
201011-153,302.10
201012-158,609.71
Click to show 834 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 1940 to 2010
Start Value
Average monthly close
$12.30
End Value
Average monthly close
$1,123.58
Change in price+9,034.80%
+6.66% / yr
Change incl. dividends+142,404.51%
+10.77% / yr
Change incl. dividends, inflation-adjusted+9,049.32%
+6.57% / yr
Final amount, nominal
($100 base)
$142,504.51
Final amount, inflation-adjusted
($100 base)
$9,149.32