S&P 500: $100 in 1941 → $573,631.44 in 2022

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Stock market returns since 1941

If you invested $100 in the S&P 500 at the beginning of 1941, you would have about $573,631.44 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 573,531.44%, or 11.16% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 28,195.45% cumulatively, or 7.14% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $609,773.09.

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 $573,531.44, or 573,531.44%. This means by 2022 you would have $573,631.44 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 1941 was 14.700 and the CPI in 2022 was 298.012.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 81 years.

Adjusted for inflation, the $573,631.44 nominal end value of the original $100 investment would have a real return of roughly $28,195.45 in 1941 dollars. This means the inflation-adjusted return is 28,195.45% as opposed to the original 573,531.44%.

For more information on inflation, see our U.S. inflation calculator for 1941.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 982-month period between 1941 and 2022.

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

YearMonthReturn (%)Amount ($)CPI
19411-5.72%94.2814.10
194121.18%95.3914.10
19413-2.55%92.9614.20
19414-1.59%91.4814.30
194154.11%95.2414.40
194165.71%100.6814.70
194170.08%100.7514.70
194180.86%101.6214.90
19419-3.43%98.1315.10
194110-4.08%94.1315.30
194111-5.88%88.5915.40
1941122.62%90.9115.50
19421-2.48%88.6515.70
19422-4.76%84.4315.80
19423-3.45%81.5216.00
194241.87%83.0416.10
194255.75%87.8116.30
194264.38%91.6616.30
194270.05%91.7016.40
194281.66%93.2316.50
194297.97%100.6616.50
1942102.15%102.8216.70
1942111.06%103.9116.80
1942126.50%110.6716.90
194316.43%117.7916.90
194324.01%122.5216.90
194333.79%127.1617.20
194344.36%132.7117.40
194352.18%135.6017.50
194362.47%138.9517.50
19437-4.54%132.6417.40
194382.55%136.0317.30
19439-0.50%135.3517.40
194310-4.21%129.6617.40
1943111.77%131.9517.40
1943123.67%136.7917.40
19441-0.24%136.4517.40
194423.24%140.8817.40
19443-1.31%139.0317.40
194442.20%142.1017.50
194455.14%149.4017.50
194463.02%153.9117.60
19447-1.06%152.2917.70
19448-1.23%150.4217.70
194492.88%154.7617.70
194410-0.28%154.3217.70
1944112.60%158.3317.70
1944123.38%163.6917.80
194513.73%169.8017.80
194520.31%170.3417.80
194532.90%175.2817.80
194544.16%182.5717.80
194552.19%186.5717.90
19456-1.70%183.4018.10
194570.71%184.7018.10
194587.18%197.9618.10
194594.51%206.9018.10
1945103.61%214.3618.10
1945112.02%218.7018.10
1945124.30%228.1018.20
194610.59%229.4318.20
19462-2.68%223.2918.10
194636.77%238.4018.30
194640.52%239.6418.40
19465-0.34%238.8318.50
19466-2.55%232.7418.70
19467-1.62%228.9719.80
19468-14.42%195.9420.20
19469-1.87%192.2720.40
194610-0.01%192.2520.80
1946113.39%198.7721.30
1946120.92%200.6021.50
194714.27%209.1721.50
19472-3.67%201.4921.50
19473-3.30%194.8421.90
19474-1.36%192.1921.90
194753.92%199.7221.90
194766.69%213.0922.00
19477-1.56%209.7722.20
19478-2.17%205.2222.50
194793.03%211.4323.00
194710-0.73%209.8923.00
194711-1.12%207.5423.10
194712-0.86%205.7423.40
19481-4.45%196.5923.70
194821.92%200.3623.50
194838.19%216.7723.40
194845.33%228.3223.80
194854.59%238.7923.90
19486-1.96%234.1224.10
19487-2.49%228.2924.40
19488-0.68%226.7524.50
194893.19%233.9824.50
194810-5.10%222.0424.40
194811-0.16%221.6924.20
1948121.63%225.3024.10
19491-3.33%217.8024.00
194921.49%221.0523.80
194930.41%221.9723.80
19494-0.18%221.5623.90
19495-4.91%210.6823.80
194966.26%223.8723.90
194974.17%233.2123.70
194981.87%237.5723.80
194993.14%245.0423.90
1949101.95%249.8123.70
1949113.24%257.9123.80
1949122.63%264.6923.60
195012.52%271.3723.50
195021.38%275.1023.50
195033.39%284.4123.60
195043.91%295.5523.60
195052.16%301.9423.70
19506-6.72%281.6423.80
195076.64%300.3424.10
195084.11%312.6824.30
195094.72%327.4424.40
1950100.38%328.6724.60
1950110.19%329.3124.70
1950128.01%355.7025.00
195114.31%371.0225.40
19512-1.11%366.9025.70
195131.93%373.9625.80
195140.63%376.3125.80
19515-1.15%372.0125.90
195162.37%380.8125.90
195174.97%399.7225.90
195183.14%412.2525.90
195190.03%412.3726.10
195110-2.25%403.0826.20
1951113.61%417.6426.40
1951123.83%433.6526.50
19521-1.33%427.8826.50
195220.75%431.0826.30
195230.20%431.9626.30
195240.46%433.9426.40
195253.24%448.0326.40
195263.37%463.1126.50
195270.88%467.1926.70
19528-1.11%462.0126.70
19529-1.61%454.5726.70
1952103.67%471.2426.70
1952114.51%492.4826.70
1952120.99%497.3526.70
19531-0.77%493.5126.60
195320.96%498.2326.50
19533-4.47%475.9526.60
195341.00%480.7226.60
19535-3.11%465.7826.70
195361.91%474.6926.80
195370.90%478.9626.80
19538-4.11%459.2926.90
195393.52%475.4426.90
1953102.71%488.3227.00
1953111.84%497.2926.90
1953123.02%512.3226.90
195412.68%526.0426.90
195422.58%539.6226.90
195434.45%563.6426.90
195444.42%588.5626.80
195451.22%595.7626.90
195464.46%622.3226.90
195472.39%637.2226.90
195482.74%654.6726.90
195492.71%672.4226.80
1954104.30%701.3526.80
1954114.95%736.0926.80
1954122.17%752.0526.70
195513.70%779.9126.70
19552-0.44%776.5126.70
195533.81%806.0826.70
19554-0.08%805.4526.70
195556.15%854.9426.70
195567.64%920.2926.70
19557-0.30%917.5426.80
195584.82%961.7326.80
19559-4.72%916.2926.90
1955107.07%981.0426.90
1955111.24%993.1826.90
195512-2.39%969.4626.80
195610.95%978.6626.80
195627.21%1,049.1926.80
195631.48%1,064.7526.80
19564-2.84%1,034.5226.90
19565-0.26%1,031.8127.00
195665.75%1,091.1327.20
19567-0.28%1,088.0227.40
19568-3.09%1,054.4227.30
19569-0.95%1,044.3627.40
195610-0.71%1,036.9227.50
1956111.81%1,055.6827.50
195612-1.86%1,036.0127.60
19571-4.00%994.6227.60
195721.62%1,010.7427.70
195732.64%1,037.4627.80
195744.16%1,080.6227.90
195751.95%1,101.7428.00
195762.32%1,127.3228.10
19577-5.21%1,068.6428.30
19578-3.74%1,028.6828.30
19579-5.90%968.0228.30
195710-1.80%950.6028.30
1957110.32%953.6228.40
1957122.33%975.8328.40
195810.70%982.6728.60
195822.42%1,006.4428.60
195830.90%1,015.4728.80
195843.56%1,051.6028.90
195852.74%1,080.3628.90
195863.07%1,113.5328.90
195874.05%1,158.6829.00
195882.94%1,192.7928.90
195894.36%1,244.7828.90
1958103.33%1,286.1928.90
1958112.16%1,314.0029.00
1958124.25%1,369.9128.90
19591-1.27%1,352.5829.00
195922.81%1,390.5328.90
195931.94%1,417.4628.90
195941.77%1,442.4829.00
19595-0.61%1,433.7429.00
195964.23%1,494.3529.10
19597-0.32%1,489.5929.20
19598-3.70%1,434.4329.20
195990.18%1,436.9629.30
1959100.67%1,446.5829.40
1959113.46%1,496.6729.40
195912-1.49%1,474.4429.40
19601-3.61%1,421.2229.30
19602-1.08%1,405.9029.40
196031.58%1,428.1729.40
19604-0.62%1,419.2529.50
196053.99%1,475.8529.50
19606-2.20%1,443.4429.60
196071.49%1,464.9629.60
19608-2.72%1,425.1029.60
19609-1.67%1,401.2529.60
1960103.54%1,450.8629.80
1960112.69%1,489.9029.80
1960125.43%1,570.7629.80
196114.37%1,639.4629.80
196123.40%1,695.1629.80
196132.92%1,744.6429.80
196141.26%1,766.6829.80
19615-1.08%1,747.6029.80
19616-0.03%1,747.1129.80
196173.84%1,814.1830.00
19618-0.54%1,804.3529.90
196191.34%1,828.5930.00
1961104.77%1,915.8530.00
1961111.16%1,938.1330.00
196112-3.49%1,870.5430.00
196211.91%1,906.2630.00
196220.34%1,912.7630.10
19623-2.94%1,856.4330.10
19624-7.19%1,723.0530.20
19625-11.41%1,526.4030.20
196262.72%1,567.8830.20
196273.02%1,615.2730.30
19628-0.59%1,605.6930.30
19629-2.86%1,559.8330.40
1962107.20%1,672.1530.40
1962114.62%1,749.4630.40
1962124.15%1,822.0130.40
196311.60%1,851.0830.40
19632-0.11%1,849.0730.40
196334.98%1,941.1230.50
196342.27%1,985.1830.50
196350.22%1,989.4830.50
19636-1.22%1,965.1730.60
196373.03%2,024.7430.70
196382.89%2,083.3330.70
196390.50%2,093.7430.70
196310-0.31%2,087.3230.80
1963112.39%2,137.2830.80
1963123.33%2,208.4530.90
196411.48%2,241.1430.90
196422.07%2,287.5530.90
196431.69%2,326.2830.90
196441.22%2,354.6730.90
19645-0.35%2,346.4130.90
196463.96%2,439.3631.00
19647-1.23%2,409.4631.10
196481.97%2,456.8231.00
196491.97%2,505.2231.10
1964100.94%2,528.6931.10
196411-1.49%2,491.0131.20
1964122.82%2,561.2731.20
196510.98%2,586.2531.20
196520.34%2,594.9231.20
196531.56%2,635.3431.30
196541.73%2,681.0031.40
19655-4.51%2,560.1631.40
196560.10%2,562.8031.60
196572.12%2,617.0931.60
196583.60%2,711.2031.60
196592.50%2,778.9031.60
1965101.08%2,808.8031.70
196511-0.21%2,802.8631.70
1965121.98%2,858.3631.80
19661-0.43%2,846.0631.80
19662-3.86%2,736.1432.00
196633.32%2,827.0032.10
19664-5.01%2,685.4432.30
19665-0.56%2,670.4132.30
196660.02%2,670.9032.40
19667-5.77%2,516.8132.50
19668-3.22%2,435.6432.70
19669-0.56%2,421.9032.70
1966105.32%2,550.6532.90
1966110.72%2,568.9032.90
1966124.13%2,675.0132.90
196713.73%2,774.7932.90
196722.63%2,847.8732.90
196731.99%2,904.6133.00
196742.06%2,964.3833.10
19675-0.99%2,934.9833.20
196761.99%2,993.4533.30
196771.85%3,048.8833.40
196781.65%3,099.3133.50
196790.10%3,102.3333.60
196710-2.88%3,012.9233.70
1967113.11%3,106.6833.80
196712-0.02%3,106.1433.90
19681-4.26%2,973.9134.10
19682-1.56%2,927.5434.20
196837.66%3,151.8434.30
196842.56%3,232.4534.40
196852.94%3,327.5134.50
196860.05%3,329.1434.70
19687-1.93%3,264.7534.90
196883.51%3,379.2735.00
196892.72%3,471.0935.10
1968101.79%3,533.0835.30
1968111.29%3,578.4935.40
196812-3.99%3,435.8835.50
19691-0.24%3,427.6835.60
19692-1.91%3,362.0935.80
196932.27%3,438.5536.10
196943.51%3,559.3636.30
19695-4.97%3,382.4136.40
19696-4.21%3,240.1736.60
19697-0.28%3,230.9836.80
196980.63%3,251.2937.00
196991.35%3,295.0737.10
1969101.00%3,327.9337.30
196911-5.03%3,160.6237.50
196912-0.59%3,142.0037.70
19701-3.20%3,041.5837.80
197022.01%3,102.7938.00
19703-2.75%3,017.5338.20
19704-11.20%2,679.6038.50
19705-0.27%2,672.3738.60
197060.52%2,686.3338.80
197073.26%2,773.7939.00
197086.32%2,949.1339.00
197092.49%3,022.5539.20
1970100.21%3,028.8039.40
1970117.16%3,245.6139.60
1970124.11%3,379.0339.80
197114.15%3,519.2939.80
197122.83%3,618.9639.90
197133.67%3,751.9140.00
19714-1.11%3,710.3440.10
19715-1.60%3,651.1340.30
19716-0.46%3,634.2340.60
19717-1.52%3,579.0940.70
197182.49%3,668.0840.80
19719-1.86%3,599.7240.80
197110-4.37%3,442.3640.90
1971117.16%3,688.9640.90
1971124.42%3,852.1041.10
197212.09%3,932.5041.10
197222.62%4,035.5141.30
197231.26%4,086.3141.40
19724-0.78%4,054.6141.50
197250.52%4,075.5341.60
19726-0.50%4,055.0041.70
197273.78%4,208.4341.90
19728-1.21%4,157.4942.00
197290.42%4,174.8442.10
1972105.25%4,394.2042.30
1972112.31%4,495.7742.40
1972120.99%4,540.2542.50
19731-3.33%4,389.2842.60
19732-1.35%4,330.2342.90
19733-1.63%4,259.5043.30
19734-2.57%4,150.0443.60
19735-1.99%4,067.4743.90
197361.21%4,116.6944.20
19737-1.64%4,049.3744.30
197382.00%4,130.1645.10
197394.24%4,305.0945.20
197310-6.85%4,010.0745.60
197311-6.81%3,737.1745.90
1973121.70%3,800.7246.20
19741-2.47%3,706.7346.60
197424.57%3,876.3047.20
19743-4.82%3,689.5947.80
19744-2.71%3,589.7748.00
197450.46%3,606.1848.60
19746-11.35%3,196.9949.00
19747-3.76%3,076.6349.40
19748-10.01%2,768.5550.00
197492.38%2,834.3650.60
1974103.74%2,940.4651.10
197411-6.09%2,761.3351.50
1974128.63%2,999.7151.90
1975110.81%3,323.9152.10
197524.97%3,489.2352.50
197531.49%3,541.1152.70
197546.71%3,778.8152.90
197552.89%3,888.2053.20
197560.43%3,904.9953.60
19757-7.00%3,631.7954.20
19758-0.85%3,600.8254.30
197594.97%3,779.8354.60
1975102.04%3,857.0054.90
197511-1.18%3,811.5055.30
1975129.55%4,175.3255.50
197614.18%4,349.7755.60
197620.80%4,384.6855.80
197631.10%4,432.7155.90
19764-0.38%4,415.7256.10
197650.90%4,455.4956.50
197662.67%4,574.2456.80
19767-0.56%4,548.6057.10
197682.44%4,659.4957.40
19769-3.11%4,514.6657.60
197610-0.37%4,498.1157.90
1976113.79%4,668.4358.00
197612-0.54%4,643.3558.20
19771-2.37%4,533.3658.50
19772-0.05%4,530.9159.10
19773-1.19%4,476.8259.50
197740.06%4,479.7160.00
197750.90%4,520.0260.30
197761.28%4,577.9860.70
19777-2.08%4,482.8361.00
19778-1.18%4,430.1461.20
19779-2.20%4,332.7761.40
1977100.98%4,375.2861.60
197711-0.08%4,371.7761.90
197712-3.39%4,223.5562.10
19781-0.97%4,182.5062.50
197820.27%4,193.6162.90
197834.83%4,396.1663.40
197845.50%4,638.1463.90
197850.67%4,669.3864.50
19786-0.06%4,666.4865.20
197877.33%5,008.4465.70
197880.40%5,028.4666.00
19789-2.77%4,889.0066.50
197810-5.44%4,623.1567.10
1978111.92%4,712.0467.40
1978124.19%4,909.2667.70
19791-1.06%4,857.3768.30
197922.34%4,971.0969.10
197932.43%5,091.9369.80
19794-1.89%4,995.5470.60
197952.42%5,116.3171.50
197961.42%5,189.0172.30
197975.01%5,449.2073.10
197981.54%5,533.1473.80
19799-3.35%5,347.6474.60
197910-0.32%5,330.4075.20
1979114.40%5,565.1575.90
1979123.31%5,749.5076.70
198014.40%6,002.2477.80
19802-8.78%5,475.3778.90
19803-1.16%5,411.7480.10
198045.04%5,684.2981.00
198056.86%6,074.3881.80
198064.97%6,376.2482.70
198073.50%6,599.7182.70
198082.84%6,786.8783.30
198093.32%7,012.5184.00
1980104.61%7,336.1284.80
198011-1.24%7,244.8085.50
1980120.01%7,245.5386.30
19811-3.07%7,023.0887.00
198124.14%7,314.0687.90
198131.29%7,408.6988.50
19814-1.62%7,288.8789.10
198150.86%7,351.3889.80
19816-2.02%7,203.1690.60
198170.80%7,260.9791.60
19818-8.30%6,658.1192.30
198191.73%6,773.1293.20
1981103.04%6,979.2793.40
1981111.18%7,061.5893.70
198112-4.80%6,722.3494.00
19821-1.91%6,593.6894.30
19822-2.74%6,412.7194.60
198235.47%6,763.4494.50
198240.57%6,801.9794.90
19825-5.27%6,443.4695.80
198260.24%6,459.1897.00
198270.79%6,510.4697.50
1982812.10%7,297.9997.70
198298.88%7,946.1597.90
1982104.50%8,303.7298.20
1982111.36%8,416.2898.00
1982123.93%8,746.6897.60
198312.13%8,932.9997.80
198323.87%9,278.3097.90
198334.20%9,667.7597.90
198344.42%10,095.4598.60
198351.75%10,272.4899.20
198360.71%10,345.2299.50
19837-2.41%10,096.1999.90
198383.31%10,430.76100.20
198390.65%10,498.35100.70
198310-1.14%10,378.52101.00
198311-0.13%10,365.22101.20
1983121.58%10,528.57101.30
19841-5.11%9,990.33101.90
198420.44%10,034.52102.40
198430.51%10,085.42102.60
19844-0.25%10,059.94103.10
19845-1.85%9,874.00103.40
19846-0.91%9,784.30103.70
198479.21%10,685.10104.10
198481.41%10,835.44104.50
19849-0.41%10,790.75105.00
1984101.29%10,929.51105.30
198411-0.71%10,852.18105.30
1984124.70%11,361.97105.30
198515.79%12,019.53105.50
19852-0.48%11,962.03106.00
198531.02%12,084.61106.40
198542.74%12,415.20106.90
198552.51%12,726.94107.30
198562.25%13,012.94107.60
19857-1.85%12,772.82107.80
19858-1.88%12,532.05108.00
198591.50%12,719.47108.30
1985106.42%13,536.13108.70
1985115.29%14,252.80109.00
1985120.75%14,359.94109.30
198615.70%15,178.07109.60
198626.18%16,116.49109.30
198632.74%16,558.31108.80
198640.49%16,639.75108.60
198653.13%17,161.11108.90
19866-1.80%16,851.54109.50
198672.28%17,235.90109.50
19868-2.46%16,812.55109.70
19869-0.09%16,797.44110.20
1986103.53%17,390.88110.30
1986111.71%17,688.08110.40
1986126.67%18,868.47110.50
198716.46%20,087.73111.20
198724.38%20,966.85111.60
19873-0.86%20,787.29112.10
198740.17%20,823.22112.70
198754.50%21,759.94113.10
198763.12%22,439.30113.50
198776.45%23,887.54113.80
19878-3.03%23,163.65114.40
19879-11.85%20,417.85115.00
198710-12.30%17,905.76115.30
198711-1.33%17,666.77115.40
1987124.25%18,417.00115.40
198813.33%19,030.02115.70
198823.23%19,645.08116.00
19883-0.89%19,471.02116.50
19884-2.19%19,044.95117.10
198856.00%20,187.30117.50
19886-0.31%20,125.34118.00
19887-1.72%19,779.49118.50
198881.93%20,160.67119.00
198893.80%20,927.10119.80
198810-2.02%20,504.33120.20
1988112.33%20,981.25120.30
1988123.51%21,718.25120.50
198913.30%22,434.92121.10
19892-0.16%22,398.65121.60
198933.56%23,197.11122.30
198944.12%24,151.75123.10
198953.39%24,971.12123.80
198962.80%25,670.36124.10
198974.69%26,874.49124.40
198980.46%26,996.91124.60
198990.29%27,074.20125.00
198910-1.81%26,583.19125.60
1989112.74%27,310.69125.90
198912-2.21%26,706.79126.10
19901-2.53%26,031.86127.40
199022.71%26,736.59128.00
199030.20%26,788.99128.70
199043.85%27,820.61128.90
199053.17%28,702.52129.20
199060.17%28,751.23129.90
19907-7.86%26,491.03130.40
19908-4.34%25,341.04131.60
19909-2.32%24,754.20132.70
1990102.98%25,492.82133.50
1990114.59%26,662.07133.80
199012-0.69%26,479.39133.80
1991111.61%29,552.80134.60
199123.04%30,452.57134.80
199132.26%31,140.44135.00
19914-0.18%31,084.73135.20
199150.35%31,192.60135.60
199160.78%31,436.06136.00
199172.68%32,278.21136.20
19918-0.30%32,180.37136.60
199190.18%32,238.83137.20
1991100.02%32,243.92137.40
1991110.94%32,545.44137.80
1991127.36%34,940.15137.90
19921-0.60%34,730.21138.10
19922-1.01%34,378.61138.60
199230.26%34,469.47139.30
199242.07%35,182.42139.50
19925-1.33%34,714.80139.70
199261.91%35,378.60140.20
199270.94%35,711.76140.50
199280.38%35,846.82140.90
19929-1.18%35,423.09141.30
1992102.76%36,399.67141.80
1992113.27%37,590.38142.00
1992120.14%37,644.09141.90
199311.72%38,293.17142.60
199322.15%39,116.53143.10
19933-1.34%38,591.69143.60
199340.72%38,871.37144.00
199350.87%39,207.68144.20
199360.06%39,231.60144.40
199371.76%39,923.04144.40
199381.35%40,463.99144.80
199391.24%40,966.51145.10
1993100.01%40,969.60145.70
1993110.89%41,333.08145.80
1993121.74%42,050.57145.80
19941-0.08%42,018.74146.20
19942-1.42%41,420.47146.70
19943-3.35%40,034.38147.20
199441.06%40,458.04147.40
199451.11%40,906.35147.50
19946-0.52%40,694.10148.00
199473.08%41,948.33148.40
199480.82%42,291.24149.00
19949-0.44%42,103.46149.40
199410-0.37%41,947.73149.50
199411-1.03%41,517.47149.70
1994122.45%42,535.13149.70
199513.82%44,159.59150.30
199522.56%45,289.27150.90
199533.22%46,745.57151.40
199543.35%48,310.50151.90
199553.18%49,846.01152.20
199563.55%51,614.29152.50
199570.51%51,879.13152.50
199583.72%53,807.82152.90
199590.91%54,298.86153.20
1995102.36%55,579.43153.70
1995113.39%57,463.10153.60
1995120.16%57,556.52153.50
199615.90%60,954.88154.40
19962-0.20%60,832.55154.90
199630.20%60,952.41155.70
199642.35%62,387.74156.30
199651.28%63,185.42156.60
19966-3.48%60,988.74156.70
199673.08%62,864.60157.00
199682.02%64,136.81157.30
199694.12%66,778.93157.80
1996105.05%70,152.65158.30
1996111.20%70,993.24158.60
1996123.26%73,305.87158.60
199714.36%76,502.86159.10
19972-0.62%76,025.73159.60
19973-3.41%73,436.86160.00
199749.22%80,206.15160.20
199755.34%84,486.61160.10
199765.74%89,332.70160.30
199770.35%89,643.39160.50
199781.19%90,711.94160.80
199791.65%92,204.50161.20
199710-1.15%91,142.26161.60
1997112.63%93,543.51161.50
1997120.24%93,765.29161.30
199816.40%99,768.29161.60
199825.31%105,068.85161.90
199833.41%108,647.16162.20
19984-0.22%108,406.12162.50
199850.12%108,532.36162.80
199864.47%113,381.23163.00
19987-6.97%105,477.41163.20
19988-4.90%100,310.66163.40
199891.29%101,605.52163.60
19981010.97%112,756.10164.00
1998114.10%117,383.73164.00
1998125.05%123,308.89163.90
19991-0.07%123,226.64164.30
199922.92%126,829.18164.50
199934.25%132,219.45165.00
19994-0.10%132,088.77166.20
19995-0.61%131,280.70166.20
199964.52%137,217.72166.20
19997-3.77%132,038.59166.70
19998-0.60%131,248.98167.10
19999-1.27%129,578.87167.90
1999107.11%138,786.68168.20
1999112.81%142,684.83168.30
199912-0.12%142,515.13168.30
20001-2.48%138,983.49168.80
200023.94%144,460.77169.80
200031.42%146,518.85171.20
20004-2.84%142,359.48171.30
200053.16%146,863.00171.50
200060.85%148,111.83172.40
200070.94%149,503.66172.80
20008-1.08%147,889.54172.80
20009-5.21%140,178.24173.70
200010-0.77%139,095.27174.00
200011-3.32%134,477.21174.10
2000120.46%135,089.09174.00
20011-2.14%132,203.24175.10
20012-9.08%120,199.31175.80
200130.45%120,738.64176.20
200146.88%129,044.65176.90
20015-2.39%125,962.22177.70
20016-2.66%122,611.34178.00
20017-2.05%120,102.91177.50
20018-11.25%106,594.55177.50
200193.18%109,988.55178.30
2001105.05%115,546.43177.70
2001111.47%117,240.40177.40
200112-0.30%116,891.39176.70
20021-3.35%112,972.29177.10
200224.95%118,559.08177.80
20023-3.51%114,392.40178.80
20024-2.82%111,166.11179.80
20025-5.92%104,584.01179.80
20026-10.76%93,332.34179.90
200271.14%94,395.20180.10
20028-4.76%89,904.13180.70
20029-1.37%88,675.10181.00
2002106.63%94,550.34181.30
200211-1.04%93,571.69181.30
200212-0.22%93,363.47180.90
20031-6.41%87,374.36181.70
200321.31%88,517.13183.10
200335.29%93,196.02184.20
200345.31%98,146.79183.80
200355.70%103,745.26183.50
200360.60%104,363.48183.70
20037-0.17%104,189.90183.90
200383.16%107,483.53184.60
200392.03%109,663.11185.20
2003101.21%110,990.68185.00
2003113.06%114,391.22184.50
2003124.93%120,036.38184.30
200411.09%121,340.77185.20
20042-1.57%119,441.55186.20
200430.97%120,597.91187.40
20044-2.56%117,505.47188.00
200452.86%120,863.40189.10
20046-2.24%118,157.53189.70
20047-1.39%116,518.02189.40
200482.78%119,760.28189.50
200490.10%119,883.14189.90
2004104.77%125,606.24190.90
2004112.73%129,032.08191.00
200412-1.35%127,291.16190.30
200511.68%129,431.18190.70
20052-0.26%129,100.37191.80
20053-2.41%125,990.45193.30
200541.34%127,673.52194.60
200552.18%130,457.69194.40
200561.81%132,816.09194.50
200570.31%133,227.85195.40
200580.28%133,600.47196.40
20059-2.62%130,094.50198.80
2005103.96%135,248.25199.20
2005112.14%138,148.15197.60
2005121.47%140,174.47196.80
20061-0.02%140,151.14198.30
200621.49%142,233.98198.70
200630.80%143,369.48199.80
20064-0.79%142,241.69201.50
20065-2.71%138,392.92202.50
200660.72%139,389.41202.90
200672.29%142,583.88203.50
200682.53%146,192.92203.90
200693.62%151,479.13202.90
2006102.00%154,511.20201.80
2006112.15%157,830.51201.50
2006120.69%158,924.00201.80
200711.60%161,460.51202.42
20072-2.47%157,466.15203.50
200734.18%164,048.64205.35
200743.39%169,612.77206.69
200750.34%170,197.77207.95
200760.57%171,175.76208.35
20077-4.20%163,984.48208.30
200783.07%169,026.58207.92
200792.99%174,083.23208.49
200710-4.81%165,716.25208.94
2007111.24%167,768.19210.18
200712-6.64%156,636.44210.04
20081-1.56%154,186.70211.08
20082-2.63%150,136.77211.69
200834.24%156,508.28213.53
200842.56%160,518.97214.82
20085-4.25%153,702.40216.63
20086-6.08%144,359.64218.82
200872.11%147,406.40219.96
20088-4.85%140,260.83219.09
20089-20.19%111,937.14218.78
200810-8.61%102,304.56216.57
200811-0.35%101,945.24212.43
200812-1.10%100,828.38210.23
20091-6.70%94,070.35211.14
20092-5.69%88,720.16212.19
2009312.32%99,652.03212.71
200946.66%106,288.68213.24
200952.87%109,337.96213.86
200961.28%110,734.90215.69
200978.12%119,727.40215.35
200983.65%124,097.86215.83
200992.40%127,080.07215.97
2009102.09%129,741.54216.18
2009112.23%132,629.40216.33
2009121.36%134,429.14215.95
20101-2.90%130,532.75216.69
201025.94%138,290.36216.74
201034.09%143,943.57217.63
20104-5.88%135,476.24218.01
20105-3.54%130,675.55218.18
20106-0.16%130,467.68217.97
201070.86%131,594.41218.01
201083.37%136,030.67218.31
201094.58%142,257.38218.44
2010102.49%145,800.89218.71
2010113.71%151,215.55218.80
2010123.46%156,450.93219.18
201113.15%161,380.48220.22
20112-1.11%159,585.19221.31
201132.22%163,129.55223.47
201140.66%164,204.96224.91
20115-3.66%158,190.78225.96
201163.10%163,097.44225.72
20117-10.40%146,134.25225.92
20118-0.79%144,980.90226.55
201193.02%149,357.73226.89
2011101.77%151,997.07226.42
2011111.55%154,360.24226.23
2011124.78%161,742.61225.67
201214.16%168,475.32226.67
201222.88%173,333.88227.66
20123-0.04%173,267.65229.39
20124-3.09%167,912.03230.09
20125-1.15%165,976.99229.82
201262.92%170,825.32229.48
201273.39%176,612.37229.10
201283.02%181,948.13230.38
20129-0.22%181,553.05231.41
201210-2.84%176,401.50231.32
2012112.18%180,239.17230.22
2012124.27%187,933.15229.60
201312.33%192,317.68230.28
201322.72%197,553.44232.17
201331.45%200,425.45232.77
201344.57%209,593.45232.53
20135-1.12%207,250.67232.95
201363.25%213,995.59233.50
201370.25%214,535.99233.60
201381.19%217,094.26233.88
201392.12%221,691.34234.15
2013103.86%230,248.62233.55
2013111.52%233,752.22233.07
2013120.97%236,014.49233.05
20141-0.13%235,707.59233.92
201422.72%242,124.19234.78
201430.20%242,612.61236.29
201441.53%246,329.52237.07
201453.20%254,202.99237.90
201461.50%258,005.42238.34
20147-0.43%256,903.86238.25
201481.78%261,471.70237.85
20149-2.65%254,551.63238.03
2014105.71%269,075.46237.43
2014110.63%270,781.10236.15
201412-1.11%267,775.30234.81
201512.83%275,346.38233.71
201520.06%275,498.82234.72
201530.88%277,918.83236.12
201540.98%280,639.38236.60
20155-0.44%279,417.20237.81
20156-0.08%279,194.70238.64
20157-2.42%272,425.91238.65
20158-4.51%260,147.41238.32
201594.32%271,378.29237.95
2015102.93%279,336.38237.84
201511-1.10%276,255.38237.34
201512-6.42%258,520.83236.53
20161-0.55%257,099.20236.92
201626.36%273,457.72237.11
201632.83%281,200.02238.13
20164-0.30%280,344.15239.26
201651.07%283,333.99240.23
201663.30%292,676.75241.02
201671.20%296,186.70240.63
20168-0.44%294,887.41240.85
20169-0.51%293,395.34241.43
2016101.20%296,919.49241.73
2016113.95%308,635.83241.35
2016121.44%313,072.88241.43
201712.58%321,139.03242.84
201721.75%326,756.58243.60
20173-0.15%326,253.36243.80
201741.69%331,774.79244.52
201751.78%337,668.53244.73
201760.99%341,004.30244.96
201770.25%341,849.33244.79
201781.65%347,500.99245.52
201792.73%357,004.45246.82
2017101.59%362,679.28246.66
2017112.88%373,137.09246.67
2017124.86%391,278.63246.52
20181-2.89%379,983.65247.87
201820.06%380,229.03248.99
20183-1.66%373,902.13249.55
201841.96%381,236.67250.55
201852.11%389,292.09251.59
201861.58%395,445.79251.99
201872.45%405,137.40252.01
201881.68%411,942.68252.15
20189-3.85%396,087.06252.44
201810-2.08%387,863.87252.89
201811-5.56%366,288.89252.04
2018121.74%372,646.34251.23
201915.83%394,367.53251.71
201921.95%402,049.89252.78
201933.72%417,019.10254.20
20194-1.53%410,631.24255.55
201951.40%416,399.58256.09
201963.83%432,336.63256.14
20197-3.13%418,785.41256.57
201983.09%431,705.89256.56
201990.01%431,748.21256.76
2019104.43%450,890.60257.35
2019112.47%462,024.53257.21
2019123.35%477,485.70256.97
202010.12%478,068.60257.97
20202-18.92%387,628.98258.68
202034.32%404,369.18258.12
202045.89%428,175.87256.39
202056.51%456,042.72256.39
202063.48%471,896.75257.80
202075.89%499,708.00259.10
20208-0.63%496,574.82259.92
202091.73%505,145.71260.28
2020103.95%525,119.76260.39
2020114.26%547,490.28260.23
2020122.80%562,794.28260.47
202112.49%576,816.46261.58
202120.82%581,554.18263.01
202136.02%616,572.39264.88
202140.76%621,259.77267.05
202151.81%632,507.20269.20
202163.07%651,913.79271.70
202172.19%666,159.16273.00
20218-0.08%665,596.26273.57
202190.45%668,605.93274.31
2021104.74%700,329.57276.59
2021110.27%702,188.27277.95
202112-2.05%687,779.70278.80
20221-2.90%667,816.41281.15
20222-0.89%661,855.59283.72
202230.12%662,638.58287.50
20224-7.87%610,470.83289.11
20225-3.37%589,901.72292.30
202260.46%592,642.91296.31
202276.45%630,852.93296.28
20228-7.28%584,943.21296.17
20229-3.09%566,861.59296.81
2022101.19%573,631.44298.01
Click to show 966 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 1941. This would result in a final amount of $609,773.09, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $573,631.44).

YearMonthContribution ($)Amount ($)
194114.163.90
194124.168.13
194134.1611.95
194144.1615.83
194154.1620.79
194164.1626.35
194174.1630.51
194184.1634.95
194194.1637.74
1941104.1640.16
1941114.1641.69
1941124.1647.02
194214.1649.89
194224.1651.44
194234.1653.65
194244.1658.87
194254.1666.62
194264.1673.85
194274.1678.02
194284.1683.52
194294.1694.64
1942104.16100.91
1942114.16106.16
1942124.32117.64
19431-125.21
19432-130.24
19433-135.17
19434-141.07
19435-144.14
19436-147.71
19437-141.00
19438-144.60
19439-143.88
194310-137.82
194311-140.26
194312-145.41
19441-145.05
19442-149.75
19443-147.79
19444-151.05
19445-158.82
19446-163.61
19447-161.88
19448-159.90
19449-164.51
194410-164.04
194411-168.31
194412-174.01
19451-180.50
19452-181.07
19453-186.32
19454-194.08
19455-198.32
19456-194.96
19457-196.34
19458-210.43
19459-219.93
194510-227.86
194511-232.47
194512-242.47
19461-243.89
19462-237.36
19463-253.43
19464-254.74
19465-253.88
19466-247.41
19467-243.39
19468-208.29
19469-204.39
194610-204.36
194611-211.30
194612-213.24
19471-222.35
19472-214.18
19473-207.12
19474-204.30
19475-212.31
19476-226.52
19477-222.99
19478-218.15
19479-224.76
194710-223.12
194711-220.61
194712-218.70
19481-208.97
19482-212.98
19483-230.42
19484-242.70
19485-253.84
19486-248.87
19487-242.68
19488-241.03
19489-248.72
194810-236.03
194811-235.66
194812-239.50
19491-231.53
19492-234.98
19493-235.95
19494-235.52
19495-223.95
19496-237.98
19497-247.90
19498-252.54
19499-260.47
194910-265.55
194911-274.16
194912-281.37
19501-288.46
19502-292.43
19503-302.33
19504-314.17
19505-320.97
19506-299.39
19507-319.26
19508-332.38
19509-348.07
195010-349.38
195011-350.06
195012-378.11
19511-394.40
19512-390.01
19513-397.53
19514-400.02
19515-395.44
19516-404.80
19517-424.90
19518-438.23
19519-438.35
195110-428.47
195111-443.95
195112-460.97
19521-454.83
19522-458.24
19523-459.17
19524-461.29
19525-476.25
19526-492.29
19527-496.62
19528-491.12
19529-483.21
195210-500.93
195211-523.51
195212-528.69
19531-524.60
19532-529.62
19533-505.93
19534-511.01
19535-495.13
19536-504.60
19537-509.14
19538-488.23
19539-505.40
195310-519.08
195311-528.62
195312-544.60
19541-559.18
19542-573.62
19543-599.15
19544-625.64
19545-633.30
19546-661.52
19547-677.36
19548-695.92
19549-714.79
195410-745.54
195411-782.47
195412-799.43
19551-829.05
19552-825.43
19553-856.87
19554-856.19
19555-908.81
19556-978.28
19557-975.35
19558-1,022.33
19559-974.02
195510-1,042.85
195511-1,055.75
195512-1,030.54
19561-1,040.33
19562-1,115.29
19563-1,131.83
19564-1,099.70
19565-1,096.82
19566-1,159.88
19567-1,156.57
19568-1,120.85
19569-1,110.16
195610-1,102.25
195611-1,122.19
195612-1,101.29
19571-1,057.28
19572-1,074.42
19573-1,102.82
19574-1,148.70
19575-1,171.15
19576-1,198.35
19577-1,135.97
19578-1,093.49
19579-1,029.01
195710-1,010.49
195711-1,013.70
195712-1,037.31
19581-1,044.59
19582-1,069.86
19583-1,079.45
19584-1,117.85
19585-1,148.43
19586-1,183.69
19587-1,231.68
19588-1,267.94
19589-1,323.21
195810-1,367.22
195811-1,396.79
195812-1,456.22
19591-1,437.80
19592-1,478.14
19593-1,506.77
19594-1,533.37
19595-1,524.07
19596-1,588.50
19597-1,583.44
19598-1,524.80
19599-1,527.50
195910-1,537.72
195911-1,590.97
195912-1,567.33
19601-1,510.77
19602-1,494.48
19603-1,518.15
19604-1,508.67
19605-1,568.84
19606-1,534.39
19607-1,557.26
19608-1,514.89
19609-1,489.53
196010-1,542.28
196011-1,583.77
196012-1,669.72
19611-1,742.76
19612-1,801.96
19613-1,854.56
19614-1,877.99
19615-1,857.70
19616-1,857.19
19617-1,928.48
19618-1,918.04
19619-1,943.80
196110-2,036.55
196111-2,060.24
196112-1,988.40
19621-2,026.36
19622-2,033.27
19623-1,973.40
19624-1,831.61
19625-1,622.57
19626-1,666.66
19627-1,717.04
19628-1,706.86
19629-1,658.10
196210-1,777.50
196211-1,859.69
196212-1,936.80
19631-1,967.71
19632-1,965.58
19633-2,063.43
19634-2,110.26
19635-2,114.83
19636-2,088.99
19637-2,152.31
19638-2,214.59
19639-2,225.66
196310-2,218.83
196311-2,271.94
196312-2,347.60
19641-2,382.34
19642-2,431.68
19643-2,472.85
19644-2,503.03
19645-2,494.25
19646-2,593.05
19647-2,561.27
19648-2,611.61
19649-2,663.06
196410-2,688.01
196411-2,647.95
196412-2,722.64
19651-2,749.19
19652-2,758.42
19653-2,801.38
19654-2,849.92
19655-2,721.46
19656-2,724.27
19657-2,781.98
19658-2,882.02
19659-2,953.98
196510-2,985.77
196511-2,979.45
196512-3,038.46
19661-3,025.38
19662-2,908.53
19663-3,005.12
19664-2,854.63
19665-2,838.66
19666-2,839.18
19667-2,675.38
19668-2,589.10
19669-2,574.49
196610-2,711.35
196611-2,730.76
196612-2,843.55
19671-2,949.61
19672-3,027.30
19673-3,087.61
19674-3,151.15
19675-3,119.89
19676-3,182.05
19677-3,240.98
19678-3,294.58
19679-3,297.79
196710-3,202.75
196711-3,302.42
196712-3,301.84
19681-3,161.28
19682-3,111.99
19683-3,350.42
19684-3,436.11
19685-3,537.16
19686-3,538.89
19687-3,470.45
19688-3,592.18
19689-3,689.79
196810-3,755.68
196811-3,803.95
196812-3,652.36
19691-3,643.65
19692-3,573.91
19693-3,655.19
19694-3,783.62
19695-3,595.52
19696-3,444.32
19697-3,434.55
19698-3,456.14
19699-3,502.67
196910-3,537.61
196911-3,359.76
196912-3,339.97
19701-3,233.22
19702-3,298.28
19703-3,207.65
19704-2,848.43
19705-2,840.74
19706-2,855.58
19707-2,948.56
19708-3,134.94
19709-3,212.99
197010-3,219.63
197011-3,450.10
197012-3,591.92
19711-3,741.03
19712-3,846.97
19713-3,988.30
19714-3,944.11
19715-3,881.17
19716-3,863.20
19717-3,804.59
19718-3,899.19
19719-3,826.52
197110-3,659.25
197111-3,921.38
197112-4,094.80
19721-4,180.26
19722-4,289.77
19723-4,343.77
19724-4,310.07
19725-4,332.31
19726-4,310.49
19727-4,473.58
19728-4,419.43
19729-4,437.88
197210-4,671.05
197211-4,779.02
197212-4,826.31
19731-4,665.83
19732-4,603.05
19733-4,527.87
19734-4,411.52
19735-4,323.74
19736-4,376.06
19737-4,304.50
19738-4,390.38
19739-4,576.33
197310-4,262.72
197311-3,972.63
197312-4,040.18
19741-3,940.28
19742-4,120.53
19743-3,922.06
19744-3,815.94
19745-3,833.39
19746-3,398.42
19747-3,270.48
19748-2,942.98
19749-3,012.94
197410-3,125.72
197411-2,935.31
197412-3,188.71
19751-3,533.33
19752-3,709.07
19753-3,764.22
19754-4,016.90
19755-4,133.17
19756-4,151.03
19757-3,860.61
19758-3,827.69
19759-4,017.98
197510-4,100.01
197511-4,051.65
197512-4,438.39
19761-4,623.83
19762-4,660.93
19763-4,711.99
19764-4,693.93
19765-4,736.20
19766-4,862.44
19767-4,835.18
19768-4,953.06
19769-4,799.10
197610-4,781.51
197611-4,962.56
197612-4,935.90
19771-4,818.99
19772-4,816.38
19773-4,758.89
19774-4,761.95
19775-4,804.80
19776-4,866.42
19777-4,765.27
19778-4,709.26
19779-4,605.75
197710-4,650.94
197711-4,647.22
197712-4,489.66
19781-4,446.02
19782-4,457.83
19783-4,673.14
19784-4,930.37
19785-4,963.58
19786-4,960.49
19787-5,324.00
19788-5,345.28
19789-5,197.03
197810-4,914.43
197811-5,008.93
197812-5,218.57
19791-5,163.41
19792-5,284.29
19793-5,412.75
19794-5,310.28
19795-5,438.67
19796-5,515.94
19797-5,792.53
19798-5,881.76
19799-5,684.57
197910-5,666.24
197911-5,915.78
197912-6,111.74
19801-6,380.41
19802-5,820.35
19803-5,752.71
19804-6,042.42
19805-6,457.10
19806-6,777.98
19807-7,015.53
19808-7,214.47
19809-7,454.34
198010-7,798.33
198011-7,701.26
198012-7,702.03
19811-7,465.56
19812-7,774.88
19813-7,875.48
19814-7,748.11
19815-7,814.55
19816-7,656.99
19817-7,718.45
19818-7,077.61
19819-7,199.86
198110-7,419.00
198111-7,506.50
198112-7,145.88
19821-7,009.11
19822-6,816.74
19823-7,189.57
19824-7,230.53
19825-6,849.43
19826-6,866.14
19827-6,920.65
19828-7,757.80
19829-8,446.80
198210-8,826.90
198211-8,946.55
198212-9,297.77
19831-9,495.81
19832-9,862.88
19833-10,276.87
19834-10,731.52
19835-10,919.69
19836-10,997.02
19837-10,732.30
19838-11,087.95
19839-11,159.79
198310-11,032.41
198311-11,018.28
198312-11,191.92
19841-10,619.77
19842-10,666.75
19843-10,720.85
19844-10,693.77
19845-10,496.12
19846-10,400.76
19847-11,358.32
19848-11,518.12
19849-11,470.62
198410-11,618.12
198411-11,535.92
198412-12,077.83
19851-12,776.82
19852-12,715.70
19853-12,846.00
19854-13,197.42
19855-13,528.80
19856-13,832.83
19857-13,577.57
19858-13,321.63
19859-13,520.86
198510-14,388.97
198511-15,150.80
198512-15,264.69
19861-16,134.36
19862-17,131.91
19863-17,601.57
19864-17,688.14
19865-18,242.35
19866-17,913.27
19867-18,321.85
19868-17,871.82
19869-17,855.76
198610-18,486.59
198611-18,802.52
198612-20,057.28
19871-21,353.36
19872-22,287.87
19873-22,096.99
19874-22,135.18
19875-23,130.92
19876-23,853.09
19877-25,392.57
19878-24,623.07
19879-21,704.28
198710-19,033.91
198711-18,779.87
198712-19,577.36
19881-20,229.01
19882-20,882.82
19883-20,697.79
19884-20,244.87
19885-21,459.20
19886-21,393.34
19887-21,025.70
19888-21,430.90
19889-22,245.62
198810-21,796.20
198811-22,303.17
198812-23,086.60
19891-23,848.43
19892-23,809.87
19893-24,658.65
19894-25,673.43
19895-26,544.43
19896-27,287.72
19897-28,567.72
19898-28,697.86
19899-28,780.00
198910-28,258.06
198911-29,031.41
198912-28,389.46
19901-27,672.00
19902-28,421.13
19903-28,476.83
19904-29,573.45
19905-30,510.92
19906-30,562.70
19907-28,160.10
19908-26,937.65
19909-26,313.84
199010-27,098.99
199011-28,341.92
199012-28,147.73
19911-31,414.77
19912-32,371.23
19913-33,102.44
19914-33,043.23
19915-33,157.89
19916-33,416.68
19917-34,311.89
19918-34,207.90
19919-34,270.03
199110-34,275.45
199111-34,595.97
199112-37,141.55
19921-36,918.39
19922-36,544.63
19923-36,641.22
19924-37,399.09
19925-36,902.01
19926-37,607.63
19927-37,961.78
19928-38,105.35
19929-37,654.92
199210-38,693.03
199211-39,958.76
199212-40,015.86
19931-40,705.83
19932-41,581.07
19933-41,023.16
19934-41,320.46
19935-41,677.96
19936-41,703.38
19937-42,438.39
19938-43,013.42
19939-43,547.61
199310-43,550.89
199311-43,937.27
199312-44,699.97
19941-44,666.13
19942-44,030.16
19943-42,556.75
19944-43,007.10
19945-43,483.66
19946-43,258.03
19947-44,591.28
19948-44,955.80
19949-44,756.19
199410-44,590.65
199411-44,133.28
199412-45,215.06
19951-46,941.87
19952-48,142.72
19953-49,690.77
19954-51,354.30
19955-52,986.56
19956-54,866.24
19957-55,147.78
19958-57,197.99
19959-57,719.96
199510-59,081.21
199511-61,083.56
199512-61,182.87
19961-64,795.35
19962-64,665.30
19963-64,792.72
19964-66,318.48
19965-67,166.42
19966-64,831.34
19967-66,825.39
19968-68,177.75
19969-70,986.33
199610-74,572.62
199611-75,466.17
199612-77,924.51
19971-81,322.93
19972-80,815.73
19973-78,063.75
19974-85,259.54
19975-89,809.69
19976-94,961.10
19977-95,291.37
19978-96,427.25
19979-98,013.84
199710-96,884.68
199711-99,437.22
199712-99,672.97
19981-106,054.19
19982-111,688.72
19983-115,492.47
19984-115,236.24
19985-115,370.44
19986-120,524.81
19987-112,123.02
19988-106,630.73
19989-108,007.18
199810-119,860.30
199811-124,779.49
199812-131,077.97
19991-130,990.53
19992-134,820.05
19993-140,549.93
19994-140,411.02
19995-139,552.04
19996-145,863.12
19997-140,357.68
19998-139,518.32
19999-137,742.99
199910-147,530.94
199911-151,674.68
199912-151,494.29
20001-147,740.15
20002-153,562.52
20003-155,750.27
20004-151,328.84
20005-156,116.10
20006-157,443.62
20007-158,923.13
20008-157,207.32
20009-149,010.17
200010-147,858.97
200011-142,949.94
200012-143,600.38
20011-140,532.70
20012-127,772.47
20013-128,345.78
20014-137,175.11
20015-133,898.47
20016-130,336.47
20017-127,670.00
20018-113,310.54
20019-116,918.38
200110-122,826.44
200111-124,627.13
200112-124,256.13
20021-120,090.11
20022-126,028.89
20023-121,599.69
20024-118,170.13
20025-111,173.32
20026-99,212.74
20027-100,342.57
20028-95,568.54
20029-94,262.08
200210-100,507.48
200211-99,467.17
200212-99,245.84
20031-92,879.38
20032-94,094.15
20033-99,067.83
20034-104,330.52
20035-110,281.73
20036-110,938.90
20037-110,754.38
20038-114,255.53
20039-116,572.43
200310-117,983.64
200311-121,598.44
200312-127,599.27
20041-128,985.85
20042-126,966.97
20043-128,196.18
20044-124,908.90
20045-128,478.40
20046-125,602.05
20047-123,859.23
20048-127,305.77
20049-127,436.38
200410-133,520.06
200411-137,161.75
200412-135,311.13
20051-137,585.99
20052-137,234.34
20053-133,928.48
20054-135,717.59
20055-138,677.18
20056-141,184.17
20057-141,621.87
20058-142,017.97
20059-138,291.11
200510-143,769.57
200511-146,852.18
200512-149,006.16
20061-148,981.37
20062-151,195.43
20063-152,402.48
20064-151,203.62
20065-147,112.37
20066-148,171.63
20067-151,567.37
20068-155,403.80
20069-161,023.07
200610-164,246.18
200611-167,774.62
200612-168,937.01
20071-171,633.32
20072-167,387.30
20073-174,384.53
20074-180,299.22
20075-180,921.07
20076-181,960.68
20077-174,316.32
20078-179,676.10
20079-185,051.35
200710-176,157.21
200711-178,338.42
200712-166,505.31
20081-163,901.23
20082-159,596.14
20083-166,369.09
20084-170,632.47
20085-163,386.42
20086-153,455.02
20087-156,693.74
20088-149,097.96
20089-118,989.73
200810-108,750.25
200811-108,368.30
200812-107,181.07
20091-99,997.25
20092-94,309.97
20093-105,930.61
20094-112,985.40
20095-116,226.79
20096-117,711.76
20097-127,270.83
20098-131,916.65
20099-135,086.75
200910-137,915.91
200911-140,985.72
200912-142,898.85
20101-138,756.96
20102-147,003.34
20103-153,012.73
20104-144,011.92
20105-138,908.76
20106-138,687.80
20107-139,885.52
20108-144,601.28
20109-151,220.31
201010-154,987.08
201011-160,742.89
201012-166,308.12
20111-171,548.26
20112-169,639.85
20113-173,407.52
20114-174,550.69
20115-168,157.59
20116-173,373.40
20117-155,341.44
20118-154,115.42
20119-158,768.02
201110-161,573.64
201111-164,085.71
201112-171,933.20
20121-179,090.11
20122-184,254.78
20123-184,184.37
20124-178,491.32
20125-176,434.37
20126-181,588.17
20127-187,739.83
20128-193,411.77
20129-192,991.80
201210-187,515.67
201211-191,595.14
201212-199,773.88
20131-204,434.65
20132-210,000.29
20133-213,053.25
20134-222,798.89
20135-220,308.49
20136-227,478.38
20137-228,052.83
20138-230,772.29
20139-235,659.01
201310-244,755.43
201311-248,479.78
201312-250,884.58
20141-250,558.34
20142-257,379.22
20143-257,898.41
20144-261,849.51
20145-270,219.05
20146-274,261.05
20147-273,090.09
20148-277,945.72
20149-270,589.65
201410-286,028.56
201411-287,841.66
201412-284,646.48
20151-292,694.57
20152-292,856.62
20153-295,429.10
20154-298,321.07
20155-297,021.88
20156-296,785.36
20157-289,590.10
20158-276,538.00
20159-288,476.48
201510-296,935.96
201511-293,660.85
201512-274,808.93
20161-273,297.73
20162-290,686.92
20163-298,917.03
20164-298,007.23
20165-301,185.44
20166-311,116.85
20167-314,847.94
20168-313,466.79
20169-311,880.71
201610-315,626.90
201611-328,081.42
201612-332,798.04
20171-341,372.40
20172-347,343.88
20173-346,808.95
20174-352,678.25
20175-358,943.33
20176-362,489.27
20177-363,387.54
20178-369,395.29
20179-379,497.51
201710-385,529.89
201711-396,646.59
201712-415,931.14
20181-403,924.51
20182-404,185.36
20183-397,459.83
20184-405,256.49
20185-413,819.43
20186-420,360.85
20187-430,663.07
20188-437,897.13
20189-421,042.53
201810-412,301.23
201811-389,366.92
201812-396,124.92
20191-419,214.65
20192-427,381.05
20193-443,293.38
20194-436,503.06
20195-442,634.84
20196-459,575.99
20197-445,170.98
20198-458,905.52
20199-458,950.50
201910-479,298.95
201911-491,134.38
201912-507,569.69
20201-508,189.31
20202-412,051.54
20203-429,846.45
20204-455,153.09
20205-484,775.69
20206-501,628.60
20207-531,192.10
20208-527,861.51
20209-536,972.41
202010-558,204.93
202011-581,984.91
202012-598,253.13
20211-613,158.78
20212-618,195.00
20213-655,419.53
20214-660,402.23
20215-672,358.31
20216-692,987.61
20217-708,130.51
20218-707,532.15
20219-710,731.44
202110-744,453.83
202111-746,429.64
202112-731,113.25
20221-709,892.18
20222-703,555.80
20223-704,388.12
20224-648,933.54
20225-627,068.47
20226-629,982.37
20227-670,599.81
20228-621,797.56
20229-602,576.70
202210-609,773.09
Click to show 966 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 1941 to 2022
Start Value
Average monthly close
$10.55
End Value
Average monthly close
$3,770.55
Change in price+35,639.81%
+7.53% / yr
Change incl. dividends+573,531.44%
+11.16% / yr
Change incl. dividends, inflation-adjusted+28,195.45%
+7.14% / yr
Final amount, nominal
($100 base)
$573,631.44
Final amount, inflation-adjusted
($100 base)
$28,295.45