S&P 500: $10000 in 1950 → $28,239,328.83 in 2023

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Stock market returns between 1950 and 2023

If you invested $10000 in the S&P 500 at the beginning of 1950, you would have about $28,239,328.83 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 282,293.29%, or 11.34% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 22,235.51% cumulatively, or 7.58% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $22,183,431.79.

The graph below shows the performance of $10000 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 $10000 is $28,229,328.83, or 282,293.29%. This means by 2023 you would have $28,239,328.83 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 1950 was 24.100 and the CPI in 2023 was 304.702.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 73 years.

Adjusted for inflation, the $28,239,328.83 nominal end value of the original $10000 investment would have a real return of roughly $2,223,550.99 in 1950 dollars. This means the inflation-adjusted return is 22,235.51% as opposed to the original 282,293.29%.

For more information on inflation, see our U.S. inflation calculator for 1950.

Full monthly data

The table below shows the full dataset pertaining to a $10000 investment, including gains and losses over the 888-month period between 1950 and 2023.

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

YearMonthReturn (%)Amount ($)CPI
195012.52%10,252.2723.50
195021.38%10,393.2623.50
195033.39%10,745.1923.60
195043.91%11,165.8023.60
195052.16%11,407.5123.70
19506-6.72%10,640.5123.80
195076.64%11,346.7824.10
195084.11%11,812.9824.30
195094.72%12,370.7224.40
1950100.38%12,417.2424.60
1950110.19%12,441.4124.70
1950128.01%13,438.3025.00
195114.31%14,017.3325.40
19512-1.11%13,861.4025.70
195131.93%14,128.4225.80
195140.63%14,217.2225.80
19515-1.15%14,054.4325.90
195162.37%14,387.0425.90
195174.97%15,101.4025.90
195183.14%15,574.9425.90
195190.03%15,579.3626.10
195110-2.25%15,228.3026.20
1951113.61%15,778.5326.40
1951123.83%16,383.4526.50
19521-1.33%16,165.2226.50
195220.75%16,286.4126.30
195230.20%16,319.4726.30
195240.46%16,394.5126.40
195253.24%16,926.4926.40
195263.37%17,496.3726.50
195270.88%17,650.4326.70
19528-1.11%17,454.7526.70
19529-1.61%17,173.5826.70
1952103.67%17,803.4126.70
1952114.51%18,606.1726.70
1952120.99%18,790.1626.70
19531-0.77%18,644.8226.60
195320.96%18,823.2726.50
19533-4.47%17,981.3226.60
195341.00%18,161.6326.60
19535-3.11%17,597.2326.70
195361.91%17,933.9926.80
195370.90%18,095.1926.80
19538-4.11%17,352.0426.90
195393.52%17,962.2626.90
1953102.71%18,448.7227.00
1953111.84%18,787.5826.90
1953123.02%19,355.6926.90
195412.68%19,873.7126.90
195422.58%20,386.9326.90
195434.45%21,294.2626.90
195444.42%22,236.0026.80
195451.22%22,507.9626.90
195464.46%23,511.2126.90
195472.39%24,074.1326.90
195482.74%24,733.7126.90
195492.71%25,404.1626.80
1954104.30%26,497.0926.80
1954114.95%27,809.5826.80
1954122.17%28,412.6426.70
195513.70%29,465.2526.70
19552-0.44%29,336.6626.70
195533.81%30,453.8726.70
19554-0.08%30,429.8926.70
195556.15%32,299.8426.70
195567.64%34,768.8826.70
19557-0.30%34,664.8126.80
195584.82%36,334.4226.80
19559-4.72%34,617.6726.90
1955107.07%37,063.8126.90
1955111.24%37,522.3526.90
195512-2.39%36,626.4026.80
195610.95%36,974.1426.80
195627.21%39,638.5326.80
195631.48%40,226.2826.80
19564-2.84%39,084.4626.90
19565-0.26%38,982.0527.00
195665.75%41,223.0827.20
19567-0.28%41,105.7127.40
19568-3.09%39,836.0227.30
19569-0.95%39,456.1427.40
195610-0.71%39,175.0327.50
1956111.81%39,883.6927.50
195612-1.86%39,140.8127.60
19571-4.00%37,576.8327.60
195721.62%38,185.7727.70
195732.64%39,195.4227.80
195744.16%40,826.0227.90
195751.95%41,623.8428.00
195762.32%42,590.3928.10
19577-5.21%40,373.5128.30
19578-3.74%38,863.7628.30
19579-5.90%36,572.1228.30
195710-1.80%35,913.6628.30
1957110.32%36,027.8828.40
1957122.33%36,866.8628.40
195810.70%37,125.6228.60
195822.42%38,023.6728.60
195830.90%38,364.5428.80
195843.56%39,729.4928.90
195852.74%40,816.1628.90
195863.07%42,069.5328.90
195874.05%43,775.1629.00
195882.94%45,063.7928.90
195894.36%47,028.1228.90
1958103.33%48,592.3928.90
1958112.16%49,643.1729.00
1958124.25%51,755.3328.90
19591-1.27%51,100.6129.00
195922.81%52,534.5828.90
195931.94%53,551.8828.90
195941.77%54,497.2929.00
19595-0.61%54,166.9029.00
195964.23%56,456.8529.10
19597-0.32%56,277.0329.20
19598-3.70%54,192.9529.20
195990.18%54,288.7429.30
1959100.67%54,651.9929.40
1959113.46%56,544.6529.40
195912-1.49%55,704.5229.40
19601-3.61%53,694.0129.30
19602-1.08%53,115.1129.40
196031.58%53,956.6029.40
19604-0.62%53,619.6229.50
196053.99%55,758.0229.50
19606-2.20%54,533.5029.60
196071.49%55,346.5229.60
19608-2.72%53,840.6829.60
19609-1.67%52,939.4129.60
1960103.54%54,813.9129.80
1960112.69%56,288.7629.80
1960125.43%59,343.5129.80
196114.37%61,939.2729.80
196123.40%64,043.3829.80
196132.92%65,912.8129.80
196141.26%66,745.5229.80
19615-1.08%66,024.5329.80
19616-0.03%66,006.0929.80
196173.84%68,540.0430.00
19618-0.54%68,168.7629.90
196191.34%69,084.2930.00
1961104.77%72,381.0430.00
1961111.16%73,222.8330.00
196112-3.49%70,669.4630.00
196211.91%72,018.8930.00
196220.34%72,264.4730.10
19623-2.94%70,136.3230.10
19624-7.19%65,096.9730.20
19625-11.41%57,667.6230.20
196262.72%59,234.6630.20
196273.02%61,025.3430.30
19628-0.59%60,663.2530.30
19629-2.86%58,930.5230.40
1962107.20%63,174.0230.40
1962114.62%66,095.0430.40
1962124.15%68,835.8130.40
196311.60%69,934.1130.40
19632-0.11%69,858.3730.40
196334.98%73,336.0530.50
196342.27%75,000.4630.50
196350.22%75,162.9330.50
19636-1.22%74,244.5230.60
196373.03%76,494.9830.70
196382.89%78,708.4530.70
196390.50%79,101.9030.70
196310-0.31%78,859.4030.80
1963112.39%80,746.7930.80
1963123.33%83,435.8130.90
196411.48%84,670.5830.90
196422.07%86,424.1430.90
196431.69%87,887.3930.90
196441.22%88,959.9430.90
19645-0.35%88,647.9830.90
196463.96%92,159.3631.00
19647-1.23%91,029.7931.10
196481.97%92,818.9431.00
196491.97%94,647.6431.10
1964100.94%95,534.4431.10
196411-1.49%94,110.6731.20
1964122.82%96,765.3331.20
196510.98%97,708.8531.20
196520.34%98,036.7431.20
196531.56%99,563.8031.30
196541.73%101,288.8431.40
19655-4.51%96,723.3931.40
196560.10%96,822.9131.60
196572.12%98,874.1931.60
196583.60%102,429.8131.60
196592.50%104,987.3131.60
1965101.08%106,116.9531.70
196511-0.21%105,892.3931.70
1965121.98%107,989.5431.80
19661-0.43%107,524.7331.80
19662-3.86%103,371.7732.00
196633.32%106,804.7032.10
19664-5.01%101,456.3732.30
19665-0.56%100,888.6932.30
196660.02%100,907.2532.40
19667-5.77%95,085.4632.50
19668-3.22%92,019.1032.70
19669-0.56%91,499.7432.70
1966105.32%96,363.9232.90
1966110.72%97,053.6932.90
1966124.13%101,062.2932.90
196713.73%104,831.9332.90
196722.63%107,592.9332.90
196731.99%109,736.6833.00
196742.06%111,994.7233.10
19675-0.99%110,883.9233.20
196761.99%113,093.1933.30
196771.85%115,187.2833.40
196781.65%117,092.3833.50
196790.10%117,206.4433.60
196710-2.88%113,828.8633.70
1967113.11%117,370.9233.80
196712-0.02%117,350.3933.90
19681-4.26%112,354.8134.10
19682-1.56%110,602.9434.20
196837.66%119,077.0334.30
196842.56%122,122.6634.40
196852.94%125,713.9134.50
196860.05%125,775.4134.70
19687-1.93%123,343.0234.90
196883.51%127,669.5035.00
196892.72%131,138.5135.10
1968101.79%133,480.3135.30
1968111.29%135,195.9635.40
196812-3.99%129,808.2235.50
19691-0.24%129,498.5535.60
19692-1.91%127,020.2135.80
196932.27%129,908.9736.10
196943.51%134,473.3136.30
19695-4.97%127,788.2136.40
19696-4.21%122,414.3036.60
19697-0.28%122,067.1136.80
196980.63%122,834.3337.00
196991.35%124,488.2037.10
1969101.00%125,729.9237.30
196911-5.03%119,408.8737.50
196912-0.59%118,705.5137.70
19701-3.20%114,911.5837.80
197022.01%117,223.90-
19703-2.75%114,002.94-
19704-11.20%101,235.73-
19705-0.27%100,962.51-
197060.52%101,490.09-
197073.26%104,794.39-
197086.32%111,418.76-
197092.49%114,192.53-
1970100.21%114,428.64-
1970117.16%122,619.84-
1970124.11%127,660.35-
197114.15%132,959.61-
197122.83%136,724.82-
197133.67%141,747.90-
19714-1.11%140,177.51-
19715-1.60%137,940.48-
19716-0.46%137,301.87-
19717-1.52%135,218.84-
197182.49%138,580.92-
19719-1.86%135,998.21-
197110-4.37%130,053.02-
1971117.16%139,369.50-
1971124.42%145,533.17-
197212.09%148,570.40-
197222.62%152,462.37-
197231.26%154,381.71-
19724-0.78%153,183.88-
197250.52%153,974.45-
19726-0.50%153,198.64-
197273.78%158,995.20-
19728-1.21%157,070.62-
197290.42%157,726.28-
1972105.25%166,013.55-
1972112.31%169,850.98-
1972120.99%171,531.42-
19731-3.33%165,827.79-
19732-1.35%163,596.83-
19733-1.63%160,924.79-
19734-2.57%156,789.41-
19735-1.99%153,669.63-
197361.21%155,529.41-
19737-1.64%152,985.84-
197382.00%156,038.35-
197394.24%162,647.08-
197310-6.85%151,501.10-
197311-6.81%141,191.02-
1973121.70%143,591.87-
19741-2.47%140,041.04-
197424.57%146,447.42-
19743-4.82%139,393.57-
19744-2.71%135,622.04-
197450.46%136,242.14-
19746-11.35%120,782.96-
19747-3.76%116,235.76-
19748-10.01%104,596.39-
197492.38%107,082.58-
1974103.74%111,091.15-
197411-6.09%104,323.67-
1974128.63%113,329.69-
1975110.81%125,577.83-
197524.97%131,823.63-
197531.49%133,783.88-
197546.71%142,764.30-
197552.89%146,896.79-
197560.43%147,531.39-
19757-7.00%137,209.72-
19758-0.85%136,039.76-
197594.97%142,802.65-
1975102.04%145,718.25-
197511-1.18%143,999.30-
1975129.55%157,744.44-
197614.18%164,335.22-
197620.80%165,653.86-
197631.10%167,468.52-
19764-0.38%166,826.66-
197650.90%168,329.07-
197662.67%172,815.64-
19767-0.56%171,846.80-
197682.44%176,036.22-
19769-3.11%170,564.64-
197610-0.37%169,939.27-
1976113.79%176,374.03-
197612-0.54%175,426.46-
19771-2.37%171,271.31-
19772-0.05%171,178.51-
19773-1.19%169,135.20-
197740.06%169,244.30-
197750.90%170,767.10-
197761.28%172,957.09-
19777-2.08%169,361.96-
19778-1.18%167,371.40-
19779-2.20%163,692.81-
1977100.98%165,298.87-
197711-0.08%165,166.40-
197712-3.39%159,566.66-
19781-0.97%158,015.69-
197820.27%158,435.48-
197834.83%166,087.91-
197845.50%175,229.92-
197850.67%176,410.19-
19786-0.06%176,300.30-
197877.33%189,219.84-
197880.40%189,976.13-
19789-2.77%184,707.14-
197810-5.44%174,663.41-
1978111.92%178,021.89-
1978124.19%185,472.66-
19791-1.06%183,512.30-
197922.34%187,808.61-
197932.43%192,374.06-
19794-1.89%188,732.37-
197952.42%193,295.24-
197961.42%196,041.66-
197975.01%205,871.85-
197981.54%209,043.21-
19799-3.35%202,035.00-
197910-0.32%201,383.57-
1979114.40%210,252.49-
1979123.31%217,217.02-
198014.40%226,765.56-
19802-8.78%206,860.48-
19803-1.16%204,456.65-
198045.04%214,753.37-
198056.86%229,491.22-
198064.97%240,895.69-
198073.50%249,338.32-
198082.84%256,409.08-
198093.32%264,934.09-
1980104.61%277,159.99-
198011-1.24%273,709.96-
1980120.01%273,737.29-
19811-3.07%265,333.08-
198124.14%276,326.63-
198131.29%279,901.73-
19814-1.62%275,374.96-
198150.86%277,736.54-
19816-2.02%272,136.68-
198170.80%274,320.75-
19818-8.30%251,544.77-
198191.73%255,889.57-
1981103.04%263,678.16-
1981111.18%266,787.89-
198112-4.80%253,971.08-
19821-1.91%249,110.34-
19822-2.74%242,273.41-
198235.47%255,524.10-
198240.57%256,979.69-
19825-5.27%243,435.27-
198260.24%244,028.88-
198270.79%245,966.41-
1982812.10%275,719.43-
198298.88%300,207.17-
1982104.50%313,716.24-
1982111.36%317,968.66-
1982123.93%330,451.33-
198312.13%337,489.99-
198323.87%350,536.05-
198334.20%365,249.41-
198344.42%381,408.09-
198351.75%388,096.10-
198360.71%390,844.33-
19837-2.41%381,435.98-
198383.31%394,076.14-
198390.65%396,629.46-
198310-1.14%392,102.24-
198311-0.13%391,599.85-
1983121.58%397,771.20-
19841-5.11%377,436.42-
198420.44%379,106.05-
198430.51%381,028.88-
19844-0.25%380,066.50-
19845-1.85%373,041.72-
19846-0.91%369,652.83-
198479.21%403,685.14-
198481.41%409,364.86-
19849-0.41%407,676.63-
1984101.29%412,918.95-
198411-0.71%409,997.32-
1984124.70%429,257.22-
198515.79%454,099.88-
19852-0.48%451,927.84-
198531.02%456,558.80-
198542.74%469,048.58-
198552.51%480,826.23-
198562.25%491,631.46-
19857-1.85%482,559.33-
19858-1.88%473,463.12-
198591.50%480,544.06-
1985106.42%511,397.47-
1985115.29%538,473.48-
1985120.75%542,521.34-
198615.70%573,430.12-
198626.18%608,883.99-
198632.74%625,576.10-
198640.49%628,652.87-
198653.13%648,350.07-
19866-1.80%636,654.40-
198672.28%651,175.55-
19868-2.46%635,181.15-
19869-0.09%634,610.29-
1986103.53%657,030.76-
1986111.71%668,259.01-
1986126.67%712,854.42-
198716.46%758,918.20-
198724.38%792,131.56-
19873-0.86%785,347.67-
198740.17%786,704.99-
198754.50%822,094.47-
198763.12%847,761.06-
198776.45%902,475.65-
19878-3.03%875,126.80-
19879-11.85%771,390.27-
198710-12.30%676,482.93-
198711-1.33%667,453.95-
1987124.25%695,797.66-
198813.33%718,957.74-
198823.23%742,194.88-
19883-0.89%735,618.85-
19884-2.19%719,521.55-
198856.00%762,679.89-
19886-0.31%760,339.07-
19887-1.72%747,272.75-
198881.93%761,673.96-
198893.80%790,629.89-
198810-2.02%774,657.21-
1988112.33%792,675.37-
1988123.51%820,519.35-
198913.30%847,595.27-
19892-0.16%846,225.06-
198933.56%876,391.28-
198944.12%912,457.43-
198953.39%943,413.66-
198962.80%969,830.90-
198974.69%1,015,323.27-
198980.46%1,019,948.44-
198990.29%1,022,868.10-
198910-1.81%1,004,317.87-
1989112.74%1,031,803.10-
198912-2.21%1,008,987.61-
19901-2.53%983,488.63-
199022.71%1,010,113.31-
199030.20%1,012,092.99-
199043.85%1,051,067.94-
199053.17%1,084,386.34-
199060.17%1,086,226.80-
19907-7.86%1,000,836.04-
19908-4.34%957,389.14-
19909-2.32%935,218.22-
1990102.98%963,123.40-
1990114.59%1,007,298.07-
199012-0.69%1,000,396.36-
1991111.61%1,116,510.11-
199123.04%1,150,503.61-
199132.26%1,176,491.51-
19914-0.18%1,174,387.02-
199150.35%1,178,462.27-
199160.78%1,187,660.00-
199172.68%1,219,476.62-
19918-0.30%1,215,780.37-
199190.18%1,217,988.79-
1991100.02%1,218,181.17-
1991110.94%1,229,572.87-
1991127.36%1,320,045.16-
19921-0.60%1,312,113.72-
19922-1.01%1,298,830.17-
199230.26%1,302,263.03-
199242.07%1,329,198.39-
19925-1.33%1,311,531.71-
199261.91%1,336,609.95-
199270.94%1,349,197.07-
199280.38%1,354,299.56-
19929-1.18%1,338,290.99-
1992102.76%1,375,186.37-
1992113.27%1,420,171.47-
1992120.14%1,422,200.80-
199311.72%1,446,723.06-
199322.15%1,477,829.81-
19933-1.34%1,458,001.10-
199340.72%1,468,567.59-
199350.87%1,481,273.38-
199360.06%1,482,177.01-
199371.76%1,508,299.88-
199381.35%1,528,736.91-
199391.24%1,547,722.40-
1993100.01%1,547,839.17-
1993110.89%1,561,571.29-
1993121.74%1,588,678.30-
19941-0.08%1,587,475.65-
19942-1.42%1,564,872.88-
19943-3.35%1,512,506.33-
199441.06%1,528,512.31-
199451.11%1,545,449.64-
19946-0.52%1,537,430.69-
199473.08%1,584,815.50-
199480.82%1,597,770.82-
19949-0.44%1,590,676.61-
199410-0.37%1,584,792.95-
199411-1.03%1,568,537.63-
1994122.45%1,606,985.22-
199513.82%1,668,357.49-
199522.56%1,711,036.92-
199533.22%1,766,056.22-
199543.35%1,825,179.54-
199553.18%1,883,191.45-
199563.55%1,949,997.29-
199570.51%1,960,003.19-
199583.72%2,032,869.53-
199590.91%2,051,420.84-
1995102.36%2,099,801.25-
1995113.39%2,170,966.41-
1995120.16%2,174,495.96-
199615.90%2,302,886.76-
19962-0.20%2,298,264.93-
199630.20%2,302,793.48-
199642.35%2,357,020.25-
199651.28%2,387,156.95-
19966-3.48%2,304,165.90-
199673.08%2,375,036.35-
199682.02%2,423,100.60-
199694.12%2,522,920.17-
1996105.05%2,650,380.16-
1996111.20%2,682,137.75-
1996123.26%2,769,509.46-
199714.36%2,890,292.30-
19972-0.62%2,872,265.97-
19973-3.41%2,774,458.24-
199749.22%3,030,203.10-
199755.34%3,191,919.75-
199765.74%3,375,005.86-
199770.35%3,386,743.76-
199781.19%3,427,114.02-
199791.65%3,483,502.92-
199710-1.15%3,443,371.46-
1997112.63%3,534,091.10-
1997120.24%3,542,470.01-
199816.40%3,769,264.55-
199825.31%3,969,520.77-
199833.41%4,104,709.76-
19984-0.22%4,095,603.15-
199850.12%4,100,372.77-
199864.47%4,283,563.74-
19987-6.97%3,984,956.21-
19988-4.90%3,789,755.11-
199891.29%3,838,675.42-
19981010.97%4,259,946.41-
1998114.10%4,434,779.08-
1998125.05%4,658,632.85-
19991-0.07%4,655,525.08-
199922.92%4,791,629.81-
199934.25%4,995,275.13-
19994-0.10%4,990,338.22-
19995-0.61%4,959,808.97-
199964.52%5,184,110.74-
19997-3.77%4,988,442.40-
19998-0.60%4,958,610.69-
19999-1.27%4,895,513.80-
1999107.11%5,243,386.54-
1999112.81%5,390,659.15-
199912-0.12%5,384,247.90-
20001-2.48%5,250,822.07-
200023.94%5,457,754.53-
200031.42%5,535,509.27-
20004-2.84%5,378,367.57-
200053.16%5,548,511.16-
200060.85%5,595,692.51-
200070.94%5,648,275.85-
20008-1.08%5,587,294.20-
20009-5.21%5,295,959.85-
200010-0.77%5,255,045.16-
200011-3.32%5,080,573.79-
2000120.46%5,103,690.79-
20011-2.14%4,994,662.80-
20012-9.08%4,541,152.26-
200130.45%4,561,528.12-
200146.88%4,875,330.83-
20015-2.39%4,758,876.13-
20016-2.66%4,632,279.21-
20017-2.05%4,537,510.22-
20018-11.25%4,027,161.71-
200193.18%4,155,387.81-
2001105.05%4,365,365.63-
2001111.47%4,429,364.05-
200112-0.30%4,416,178.31-
20021-3.35%4,268,114.04-
200224.95%4,479,183.83-
20023-3.51%4,321,765.95-
20024-2.82%4,199,876.10-
20025-5.92%3,951,203.18-
20026-10.76%3,526,113.02-
200271.14%3,566,268.07-
20028-4.76%3,396,594.66-
20029-1.37%3,350,161.76-
2002106.63%3,572,129.30-
200211-1.04%3,535,155.57-
200212-0.22%3,527,289.23-
20031-6.41%3,301,019.41-
200321.31%3,344,193.38-
200335.29%3,520,962.72-
200345.31%3,708,003.72-
200355.70%3,919,515.11-
200360.60%3,942,871.53-
20037-0.17%3,936,313.58-
200383.16%4,060,747.58-
200392.03%4,143,092.59-
2003101.21%4,193,248.30-
2003113.06%4,321,721.47-
2003124.93%4,534,996.76-
200411.09%4,584,276.85-
20042-1.57%4,512,523.90-
200430.97%4,556,211.32-
20044-2.56%4,439,378.52-
200452.86%4,566,241.61-
20046-2.24%4,464,013.52-
20047-1.39%4,402,072.20-
200482.78%4,524,565.34-
200490.10%4,529,207.33-
2004104.77%4,745,426.98-
2004112.73%4,874,856.00-
200412-1.35%4,809,083.40-
200511.68%4,889,934.03-
20052-0.26%4,877,435.94-
20053-2.41%4,759,942.49-
200541.34%4,823,529.16-
200552.18%4,928,715.74-
200561.81%5,017,816.61-
200570.31%5,033,372.76-
200580.28%5,047,450.62-
20059-2.62%4,914,994.43-
2005103.96%5,109,704.02-
2005112.14%5,219,262.76-
2005121.47%5,295,817.36-
20061-0.02%5,294,936.14-
200621.49%5,373,626.19-
200630.80%5,416,525.54-
20064-0.79%5,373,917.22-
20065-2.71%5,228,510.14-
200660.72%5,266,157.54-
200672.29%5,386,845.19-
200682.53%5,523,195.59-
200693.62%5,722,909.54-
2006102.00%5,837,461.76-
2006112.15%5,962,865.91-
2006120.69%6,004,178.22-
200711.60%6,100,007.79-
20072-2.47%5,949,100.25-
200734.18%6,197,788.10-
200743.39%6,408,001.77-
200750.34%6,430,103.06-
200760.57%6,467,051.70-
20077-4.20%6,195,363.89-
200783.07%6,385,855.43-
200792.99%6,576,896.78-
200710-4.81%6,260,790.73-
2007111.24%6,338,313.14-
200712-6.64%5,917,753.56-
20081-1.56%5,825,201.92-
20082-2.63%5,672,195.08-
200834.24%5,912,911.84-
200842.56%6,064,436.37-
20085-4.25%5,806,905.11-
20086-6.08%5,453,934.03-
200872.11%5,569,041.21-
20088-4.85%5,299,079.92-
20089-20.19%4,229,005.71-
200810-8.61%3,865,085.05-
200811-0.35%3,851,510.21-
200812-1.10%3,809,314.73-
20091-6.70%3,553,995.17-
20092-5.69%3,351,863.95-
2009312.32%3,764,872.25-
200946.66%4,015,606.03-
200952.87%4,130,808.19-
200961.28%4,183,585.14-
200978.12%4,523,323.42-
200983.65%4,688,440.25-
200992.40%4,801,108.54-
2009102.09%4,901,659.39-
2009112.23%5,010,763.35-
2009121.36%5,078,757.80-
20101-2.90%4,931,551.36-
201025.94%5,224,635.21-
201034.09%5,438,214.65-
20104-5.88%5,118,317.30-
20105-3.54%4,936,946.44-
20106-0.16%4,929,093.09-
201070.86%4,971,661.31-
201083.37%5,139,263.70-
201094.58%5,374,510.23-
2010102.49%5,508,384.68-
2010113.71%5,712,951.56-
2010123.46%5,910,744.97-
201113.15%6,096,984.51-
20112-1.11%6,029,157.93-
201132.22%6,163,064.50-
201140.66%6,203,693.57-
20115-3.66%5,976,477.08-
201163.10%6,161,851.60-
20117-10.40%5,520,979.17-
20118-0.79%5,477,405.12-
201193.02%5,642,762.83-
2011101.77%5,742,477.35-
2011111.55%5,831,758.58-
2011124.78%6,110,665.82-
201214.16%6,365,028.92-
201222.88%6,548,586.00-
20123-0.04%6,546,083.76-
20124-3.09%6,343,747.44-
20125-1.15%6,270,641.39-
201262.92%6,453,812.27-
201273.39%6,672,448.12-
201283.02%6,874,033.86-
20129-0.22%6,859,107.94-
201210-2.84%6,664,481.17-
2012112.18%6,809,469.30-
2012124.27%7,100,149.30-
201312.33%7,265,797.33-
201322.72%7,463,605.33-
201331.45%7,572,110.58-
201344.57%7,918,479.35-
20135-1.12%7,829,968.56-
201363.25%8,084,793.10-
201370.25%8,105,209.49-
201381.19%8,201,861.46-
201392.12%8,375,539.97-
2013103.86%8,698,835.32-
2013111.52%8,831,202.16-
2013120.97%8,916,671.21-
20141-0.13%8,905,076.34-
201422.72%9,147,496.50-
201430.20%9,165,949.19-
201441.53%9,306,374.72-
201453.20%9,603,836.03-
201461.50%9,747,492.32-
20147-0.43%9,705,875.32-
201481.78%9,878,449.07-
20149-2.65%9,617,007.65-
2014105.71%10,165,720.66-
2014110.63%10,230,159.91-
201412-1.11%10,116,600.47-
201512.83%10,402,637.04-
201520.06%10,408,396.30-
201530.88%10,499,824.66-
201540.98%10,602,607.85-
20155-0.44%10,556,433.49-
20156-0.08%10,548,027.39-
20157-2.42%10,292,301.28-
20158-4.51%9,828,417.43-
201594.32%10,252,721.94-
2015102.93%10,553,379.93-
201511-1.10%10,436,979.33-
201512-6.42%9,766,964.73-
20161-0.55%9,713,255.31-
201626.36%10,331,283.28-
201632.83%10,623,788.80-
20164-0.30%10,591,453.68-
201651.07%10,704,410.49-
201663.30%11,057,381.89-
201671.20%11,189,988.32-
20168-0.44%11,140,901.06-
20169-0.51%11,084,530.22-
2016101.20%11,217,673.23-
2016113.95%11,660,318.55-
2016121.44%11,827,951.34-
201712.58%12,132,692.04-
201721.75%12,344,923.99-
20173-0.15%12,325,912.30-
201741.69%12,534,512.75-
201751.78%12,757,179.34-
201760.99%12,883,205.49-
201770.25%12,915,130.75-
201781.65%13,128,651.83-
201792.73%13,487,694.09-
2017101.59%13,702,090.28-
2017112.88%14,097,188.18-
2017124.86%14,782,579.13-
20181-2.89%14,355,852.42-
201820.06%14,365,123.18-
20183-1.66%14,126,091.56-
201841.96%14,403,191.96-
201852.11%14,707,527.05-
201861.58%14,940,015.10-
201872.45%15,306,165.73-
201881.68%15,563,270.70-
20189-3.85%14,964,242.57-
201810-2.08%14,653,568.68-
201811-5.56%13,838,462.14-
2018121.74%14,078,647.53-
201915.83%14,899,278.17-
201921.95%15,189,519.38-
201933.72%15,755,058.55-
20194-1.53%15,513,724.37-
201951.40%15,731,653.28-
201963.83%16,333,757.74-
20197-3.13%15,821,790.15-
201983.09%16,309,928.36-
201990.01%16,311,527.18-
2019104.43%17,034,730.09-
2019112.47%17,455,372.07-
2019123.35%18,039,498.20-
202010.12%18,061,520.25-
20202-18.92%14,644,694.42-
202034.32%15,277,142.29-
202045.89%16,176,563.48-
202056.51%17,229,378.20-
202063.48%17,828,346.32-
202075.89%18,879,060.78-
20208-0.63%18,760,688.57-
202091.73%19,084,498.31-
2020103.95%19,839,121.62-
2020114.26%20,684,284.16-
2020122.80%21,262,471.91-
202112.49%21,792,232.47-
202120.82%21,971,224.64-
202136.02%23,294,218.88-
202140.76%23,471,308.88-
202151.81%23,896,238.80-
202163.07%24,629,423.55-
202172.19%25,167,616.32-
20218-0.08%25,146,349.98-
202190.45%25,260,055.76-
2021104.74%26,458,580.75-
2021110.27%26,528,802.79-
202112-2.05%25,984,444.25-
20221-2.90%25,230,227.60-
20222-0.89%25,005,026.73-
202230.12%25,034,608.13-
20224-7.87%23,063,700.96-
20225-3.37%22,286,596.11-
202260.46%22,390,158.65-
202276.45%23,833,740.36-
20228-7.28%22,099,262.75-
20229-3.09%21,416,135.84-
2022105.29%22,547,998.79-
2022110.01%22,550,442.42-
2022121.38%22,860,839.41-
202313.15%23,580,263.54-
20232-2.59%22,970,613.03-
202334.00%23,888,569.55-
202340.74%24,064,794.40-
202354.94%25,254,121.46-
202363.88%26,232,981.81-
20237-1.00%25,971,271.95-
20238-0.95%25,723,615.83-
20239-3.04%24,942,309.22-
2023104.60%26,090,085.38-
2023115.18%27,440,311.73-
2023122.91%28,239,328.83-
Click to show 870 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 $10,000.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $10,000.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1950. This would result in a final amount of $22,183,431.79, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $28,239,328.83).

YearMonthContribution ($)Amount ($)
19501416.66424.81
19502416.66850.70
19503416.661,307.93
19504416.661,789.80
19505416.662,251.98
19506416.662,486.99
19507416.663,093.90
19508416.663,652.37
19509416.664,258.72
195010416.664,690.56
195011416.665,114.67
195012416.665,971.96
19511416.666,661.45
19512416.666,997.00
19513416.667,554.04
19514416.668,018.37
19515416.668,335.99
19516416.668,957.28
19517416.669,836.93
19518416.6610,572.80
19519416.6610,990.33
195110416.6611,147.74
195111416.6611,980.03
195112416.8212,870.04
19521-12,698.60
19522-12,793.80
19523-12,819.77
19524-12,878.73
19525-13,296.62
19526-13,744.29
19527-13,865.31
19528-13,711.59
19529-13,490.72
195210-13,985.49
195211-14,616.10
195212-14,760.63
19531-14,646.46
19532-14,786.63
19533-14,125.25
19534-14,266.89
19535-13,823.52
19536-14,088.06
19537-14,214.69
19538-13,630.91
19539-14,110.27
195310-14,492.41
195311-14,758.60
195312-15,204.88
19541-15,611.81
19542-16,014.97
19543-16,727.72
19544-17,467.51
19545-17,681.15
19546-18,469.25
19547-18,911.45
19548-19,429.59
19549-19,956.26
195410-20,814.82
195411-21,845.84
195412-22,319.57
19551-23,146.46
19552-23,045.44
19553-23,923.06
19554-23,904.23
19555-25,373.17
19556-27,312.73
19557-27,230.98
19558-28,542.54
19559-27,193.94
195510-29,115.51
195511-29,475.72
195512-28,771.91
19561-29,045.07
19562-31,138.08
19563-31,599.79
19564-30,702.84
19565-30,622.39
19566-32,382.83
19567-32,290.63
19568-31,293.22
19569-30,994.81
195610-30,773.98
195611-31,330.67
195612-30,747.10
19571-29,518.52
19572-29,996.87
19573-30,790.00
19574-32,070.92
19575-32,697.65
19576-33,456.92
19577-31,715.45
19578-30,529.47
19579-28,729.26
195710-28,212.01
195711-28,301.74
195712-28,960.80
19581-29,164.07
19582-29,869.53
19583-30,137.30
19584-31,209.54
19585-32,063.18
19586-33,047.76
19587-34,387.62
19588-35,399.90
19589-36,942.98
195810-38,171.80
195811-38,997.24
195812-40,656.45
19591-40,142.13
19592-41,268.59
19593-42,067.73
19594-42,810.40
19595-42,550.86
19596-44,349.73
19597-44,208.47
19598-42,571.33
19599-42,646.57
195910-42,931.92
195911-44,418.70
195912-43,758.74
19601-42,179.38
19602-41,724.63
19603-42,385.66
19604-42,120.94
19605-43,800.76
19606-42,838.85
19607-43,477.52
19608-42,294.60
19609-41,586.60
196010-43,059.12
196011-44,217.69
196012-46,617.35
19611-48,656.45
19612-50,309.33
19613-51,777.87
19614-52,432.01
19615-51,865.63
19616-51,851.14
19617-53,841.69
19618-53,550.03
19619-54,269.23
196110-56,858.99
196111-57,520.27
196112-55,514.46
19621-56,574.51
19622-56,767.42
19623-55,095.65
19624-51,136.99
19625-45,300.85
19626-46,531.84
19627-47,938.52
19628-47,654.08
19629-46,292.92
196210-49,626.41
196211-51,921.02
196212-54,074.04
19631-54,936.81
19632-54,877.31
19633-57,609.20
19634-58,916.68
19635-59,044.31
19636-58,322.86
19637-60,090.71
19638-61,829.50
19639-62,138.58
196310-61,948.08
196311-63,430.72
196312-65,543.08
19641-66,513.06
19642-67,890.57
19643-69,040.03
19644-69,882.56
19645-69,637.51
19646-72,395.87
19647-71,508.54
19648-72,914.00
19649-74,350.55
196410-75,047.17
196411-73,928.73
196412-76,014.10
19651-76,755.28
19652-77,012.85
19653-78,212.44
19654-79,567.55
19655-75,981.15
19656-76,059.33
19657-77,670.71
19658-80,463.84
19659-82,472.88
196510-83,360.27
196511-83,183.87
196512-84,831.29
19661-84,466.16
19662-81,203.79
19663-83,900.53
19664-79,699.15
19665-79,253.21
19666-79,267.79
19667-74,694.47
19668-72,285.69
19669-71,877.71
196610-75,698.77
196611-76,240.62
196612-79,389.58
19671-82,350.82
19672-84,519.73
19673-86,203.76
19674-87,977.56
19675-87,104.97
19676-88,840.46
19677-90,485.48
19678-91,982.03
19679-92,071.63
196710-89,418.37
196711-92,200.83
196712-92,184.71
19681-88,260.43
19682-86,884.24
19683-93,541.08
19684-95,933.57
19685-98,754.68
19686-98,803.00
19687-96,892.22
19688-100,290.90
19689-103,015.98
196810-104,855.59
196811-106,203.31
196812-101,970.97
19691-101,727.71
19692-99,780.85
19693-102,050.12
19694-105,635.64
19695-100,384.15
19696-96,162.67
19697-95,889.94
19698-96,492.63
19699-97,791.82
196910-98,767.26
196911-93,801.75
196912-93,249.23
19701-90,268.90
19702-92,085.35
19703-89,555.12
19704-79,525.83
19705-79,311.20
19706-79,725.64
19707-82,321.33
19708-87,525.11
19709-89,704.05
197010-89,889.53
197011-96,324.13
197012-100,283.71
19711-104,446.55
19712-107,404.31
19713-111,350.20
19714-110,116.58
19715-108,359.28
19716-107,857.61
19717-106,221.29
19718-108,862.38
19719-106,833.53
197110-102,163.27
197111-109,481.84
197112-114,323.72
19721-116,709.62
19722-119,766.96
19723-121,274.70
19724-120,333.74
19725-120,954.78
19726-120,345.34
19727-124,898.83
19728-123,386.98
19729-123,902.03
197210-130,412.10
197211-133,426.60
197212-134,746.67
19731-130,266.18
19732-128,513.64
19733-126,414.62
19734-123,166.07
19735-120,715.33
19736-122,176.27
19737-120,178.17
19738-122,576.08
19739-127,767.57
197310-119,011.83
197311-110,912.74
197312-112,798.73
19741-110,009.38
19742-115,041.91
19743-109,500.75
19744-106,538.02
19745-107,025.15
19746-94,881.17
19747-91,309.12
19748-82,165.79
19749-84,118.82
197410-87,267.76
197411-81,951.56
197412-89,026.25
19751-98,647.79
19752-103,554.18
19753-105,094.06
19754-112,148.64
19755-115,394.92
19756-115,893.42
19757-107,785.23
19758-106,866.16
19759-112,178.76
197510-114,469.11
197511-113,118.79
197512-123,916.30
19761-129,093.69
19762-130,129.55
19763-131,555.05
19764-131,050.84
19765-132,231.06
19766-135,755.49
19767-134,994.42
19768-138,285.42
19769-133,987.21
197610-133,495.96
197611-138,550.79
197612-137,806.43
19771-134,542.34
19772-134,469.44
19773-132,864.32
19774-132,950.02
19775-134,146.26
19776-135,866.60
19777-133,042.45
19778-131,478.76
19779-128,589.04
197710-129,850.68
197711-129,746.62
197712-125,347.75
19781-124,129.38
19782-124,459.15
19783-130,470.51
19784-137,652.03
19785-138,579.19
19786-138,492.87
19787-148,641.83
19788-149,235.93
19789-145,096.87
197810-137,207.01
197811-139,845.27
197812-145,698.22
19791-144,158.26
19792-147,533.24
19793-151,119.63
19794-148,258.89
19795-151,843.26
19796-154,000.72
19797-161,722.83
19798-164,214.09
19799-158,708.78
197910-158,197.05
197911-165,164.05
197912-170,635.04
19801-178,135.90
19802-162,499.44
19803-160,611.12
19804-168,699.72
19805-180,277.05
19806-189,235.84
19807-195,867.96
19808-201,422.40
19809-208,119.23
198010-217,723.29
198011-215,013.12
198012-215,034.59
19811-208,432.65
19812-217,068.65
19813-219,877.07
19814-216,321.06
19815-218,176.21
19816-213,777.23
19817-215,492.93
19818-197,601.23
19819-201,014.29
198110-207,132.63
198111-209,575.49
198112-199,507.23
19821-195,688.87
19822-190,318.11
19823-200,727.20
19824-201,870.64
19825-191,230.81
19826-191,697.12
19827-193,219.15
19828-216,591.66
19829-235,828.03
198210-246,440.09
198211-249,780.59
198212-259,586.36
19831-265,115.58
19832-275,363.93
19833-286,922.03
19834-299,615.49
19835-304,869.26
19836-307,028.14
19837-299,637.40
19838-309,566.89
19839-311,572.65
198310-308,016.29
198311-307,621.64
198312-312,469.55
19841-296,495.54
19842-297,807.12
19843-299,317.60
19844-298,561.61
19845-293,043.28
19846-290,381.13
19847-317,115.25
19848-321,576.96
19849-320,250.77
198410-324,368.88
198411-322,073.78
198412-337,203.42
19851-356,718.60
19852-355,012.35
19853-358,650.20
19854-368,461.56
19855-377,713.51
19856-386,201.57
19857-379,074.95
19858-371,929.41
19859-377,491.85
198510-401,728.77
198511-422,998.36
198512-426,178.16
19861-450,458.58
19862-478,309.40
19863-491,421.90
19864-493,838.86
19865-509,312.02
19866-500,124.47
19867-511,531.58
19868-498,967.16
19869-498,518.72
198610-516,131.14
198611-524,951.51
198612-559,983.47
19871-596,168.92
19872-622,259.71
19873-616,930.61
19874-617,996.86
19875-645,797.10
19876-665,959.51
19877-708,940.61
19878-687,456.69
19879-605,966.36
198710-531,411.81
198711-524,319.09
198712-546,584.52
19881-564,777.94
19882-583,031.90
19883-577,866.10
19884-565,220.84
19885-599,123.92
19886-597,285.08
19887-587,020.83
19888-598,333.71
19889-621,080.06
198810-608,532.71
198811-622,686.90
198812-644,559.76
19891-665,829.28
19892-664,752.90
19893-688,450.01
19894-716,781.81
19895-741,099.51
19896-761,851.59
19897-797,588.16
19898-801,221.47
19899-803,515.02
198910-788,942.87
198911-810,533.92
198912-792,611.18
19901-772,580.44
19902-793,495.48
19903-795,050.62
19904-825,667.42
19905-851,840.73
19906-853,286.50
19907-786,207.71
19908-752,077.96
19909-734,661.57
199010-756,582.51
199011-791,283.97
199012-785,862.32
19911-877,075.59
19912-903,779.21
19913-924,194.03
19914-922,540.84
19915-925,742.16
19916-932,967.45
19917-957,961.03
19918-955,057.44
19919-956,792.26
199110-956,943.39
199111-965,892.15
199112-1,036,962.74
19921-1,030,732.19
19922-1,020,297.29
19923-1,022,993.97
19924-1,044,153.07
19925-1,030,274.99
19926-1,049,975.23
19927-1,059,863.05
19928-1,063,871.32
19929-1,051,295.77
199210-1,080,278.97
199211-1,115,617.06
199212-1,117,211.20
19931-1,136,474.68
19932-1,160,910.62
19933-1,145,334.16
19934-1,153,634.68
19935-1,163,615.72
19936-1,164,325.57
19937-1,184,846.41
19938-1,200,900.75
19939-1,215,814.82
199310-1,215,906.55
199311-1,226,693.82
199312-1,247,987.76
19941-1,247,043.02
19942-1,229,287.39
19943-1,188,150.80
19944-1,200,724.30
19945-1,214,029.45
19946-1,207,730.15
19947-1,244,953.34
19948-1,255,130.39
19949-1,249,557.53
199410-1,244,935.62
199411-1,232,166.24
199412-1,262,368.78
19951-1,310,579.83
19952-1,344,106.69
19953-1,387,327.15
19954-1,433,771.54
19955-1,479,342.84
19956-1,531,822.24
19957-1,539,682.39
19958-1,596,922.61
19959-1,611,495.60
199510-1,649,500.88
199511-1,705,404.74
199512-1,708,177.39
19961-1,809,034.90
19962-1,805,404.22
19963-1,808,961.63
19964-1,851,559.52
19965-1,875,233.43
19966-1,810,039.73
19967-1,865,712.08
19968-1,903,468.99
19969-1,981,882.36
199610-2,082,008.68
199611-2,106,955.88
199612-2,175,590.81
19971-2,270,471.88
19972-2,256,311.28
19973-2,179,478.32
19974-2,380,378.95
19975-2,507,415.62
19976-2,651,239.08
19977-2,660,459.81
19978-2,692,172.70
19979-2,736,469.06
199710-2,704,943.75
199711-2,776,208.64
199712-2,782,790.71
19981-2,960,949.38
19982-3,118,260.84
19983-3,224,458.68
19984-3,217,304.98
19985-3,221,051.75
19986-3,364,957.60
19987-3,130,386.16
19988-2,977,045.76
19989-3,015,475.15
199810-3,346,404.98
199811-3,483,744.95
199812-3,659,593.50
19991-3,657,152.18
19992-3,764,069.38
19993-3,924,043.16
19994-3,920,164.96
19995-3,896,182.68
19996-4,072,383.15
19997-3,918,675.71
19998-3,895,241.37
19999-3,845,675.55
199910-4,118,947.32
199911-4,234,637.46
199912-4,229,601.09
20001-4,124,788.31
20002-4,287,344.30
20003-4,348,424.61
20004-4,224,981.79
20005-4,358,638.25
20006-4,395,701.60
20007-4,437,008.50
20008-4,389,104.31
20009-4,160,246.33
200010-4,128,105.76
200011-3,991,049.60
200012-4,009,209.18
20011-3,923,562.14
20012-3,567,306.50
20013-3,583,312.78
20014-3,829,820.80
20015-3,738,339.70
20016-3,638,891.37
20017-3,564,445.50
20018-3,163,540.74
20019-3,264,268.87
200110-3,429,217.15
200111-3,479,491.17
200112-3,469,133.10
20021-3,352,821.07
20022-3,518,627.14
20023-3,394,967.38
20024-3,299,216.69
20025-3,103,871.44
20026-2,769,941.46
20027-2,801,485.30
20028-2,668,198.19
20029-2,631,722.78
200210-2,806,089.59
200211-2,777,044.84
200212-2,770,865.43
20031-2,593,118.96
20032-2,627,034.31
20033-2,765,895.64
20034-2,912,825.87
20035-3,078,978.84
20036-3,097,326.50
20037-3,092,174.90
20038-3,189,924.14
20039-3,254,610.35
200310-3,294,010.22
200311-3,394,932.44
200312-3,562,471.05
20041-3,601,183.07
20042-3,544,817.47
20043-3,579,136.16
20044-3,487,358.04
20045-3,587,015.47
20046-3,506,710.10
20047-3,458,052.03
20048-3,554,276.64
20049-3,557,923.16
200410-3,727,774.71
200411-3,829,447.80
200412-3,777,780.06
20051-3,841,292.36
20052-3,831,474.47
20053-3,739,177.38
20054-3,789,127.95
20055-3,871,757.36
20056-3,941,750.64
20057-3,953,970.79
20058-3,965,029.67
20059-3,860,978.58
200510-4,013,932.88
200511-4,099,996.86
200512-4,160,134.39
20061-4,159,442.16
20062-4,221,257.20
20063-4,254,956.82
20064-4,221,485.81
20065-4,107,261.15
20066-4,136,835.10
20067-4,231,641.40
20068-4,338,751.58
20069-4,495,637.07
200610-4,585,623.67
200611-4,684,135.02
200612-4,716,587.95
20071-4,791,866.96
20072-4,673,321.39
20073-4,868,678.37
20074-5,033,811.92
20075-5,051,173.62
20076-5,080,198.65
20077-4,866,774.03
20078-5,016,414.85
20079-5,166,487.56
200710-4,918,170.15
200711-4,979,067.96
200712-4,648,696.97
20081-4,575,992.95
20082-4,455,798.28
20083-4,644,893.56
20084-4,763,923.80
20085-4,561,619.86
20086-4,284,343.10
20087-4,374,765.65
20088-4,162,697.31
20089-3,322,099.48
200810-3,036,221.26
200811-3,025,557.53
200812-2,992,410.84
20091-2,791,844.31
20092-2,633,059.93
20093-2,957,499.00
20094-3,154,463.16
20095-3,244,960.33
20096-3,286,419.31
20097-3,553,301.04
20098-3,683,008.72
20099-3,771,515.41
200910-3,850,503.23
200911-3,936,209.94
200912-3,989,623.05
20101-3,873,984.89
20102-4,104,217.19
20103-4,271,994.72
20104-4,020,699.05
20105-3,878,223.00
20106-3,872,053.80
20107-3,905,493.30
20108-4,037,153.52
20109-4,221,951.66
201010-4,327,116.86
201011-4,487,814.56
201012-4,643,191.37
20111-4,789,492.02
20112-4,736,210.79
20113-4,841,401.22
20114-4,873,317.42
20115-4,694,827.29
20116-4,840,448.42
20117-4,337,010.47
20118-4,302,780.83
20119-4,432,677.74
201110-4,511,008.58
201111-4,581,143.54
201112-4,800,239.38
20121-5,000,054.56
20122-5,144,248.00
20123-5,142,282.37
20124-4,983,336.87
20125-4,925,908.35
20126-5,069,798.41
20127-5,241,548.01
20128-5,399,903.88
20129-5,388,178.81
201210-5,235,289.56
201211-5,349,185.13
201212-5,577,529.08
20131-5,707,654.05
20132-5,863,042.31
20133-5,948,278.71
20134-6,220,369.03
20135-6,150,839.30
20136-6,351,016.96
20137-6,367,055.07
20138-6,442,980.12
20139-6,579,413.44
201310-6,833,378.41
201311-6,937,359.31
201312-7,004,499.60
20141-6,995,391.24
20142-7,185,824.63
20143-7,200,320.16
20144-7,310,631.57
20145-7,544,302.59
20146-7,657,151.92
20147-7,624,459.65
20148-7,760,025.12
20149-7,554,649.56
201410-7,985,691.59
201411-8,036,311.91
201412-7,947,105.19
20151-8,171,801.48
20152-8,176,325.68
20153-8,248,147.31
20154-8,328,888.75
20155-8,292,616.43
20156-8,286,013.01
20157-8,085,127.12
20158-7,720,722.72
20159-8,054,035.53
201510-8,290,217.71
201511-8,198,779.10
201512-7,672,448.50
20161-7,630,257.01
20162-8,115,749.47
20163-8,345,527.46
20164-8,320,126.57
20165-8,408,859.91
20166-8,686,136.93
20167-8,790,306.03
20168-8,751,745.49
20169-8,707,463.33
201610-8,812,053.94
201611-9,159,774.40
201612-9,291,458.50
20171-9,530,847.85
20172-9,697,566.86
20173-9,682,632.21
20174-9,846,498.49
20175-10,021,414.44
20176-10,120,414.40
20177-10,145,493.32
20178-10,313,225.01
20179-10,595,271.00
201710-10,763,690.14
201711-11,074,059.67
201712-11,612,469.18
20181-11,277,253.61
20182-11,284,536.26
20183-11,096,764.75
20184-11,314,441.23
20185-11,553,511.95
20186-11,736,143.17
20187-12,023,773.14
20188-12,225,742.20
20189-11,755,175.07
201810-11,511,124.91
201811-10,870,817.18
201812-11,059,495.04
20191-11,704,142.23
20192-11,932,141.49
20193-12,376,401.32
20194-12,186,821.03
20195-12,358,015.29
20196-12,830,999.03
20197-12,428,822.40
20198-12,812,279.84
20199-12,813,535.79
201910-13,381,648.53
201911-13,712,084.24
201912-14,170,945.08
20201-14,188,244.52
20202-11,504,153.72
20203-12,000,973.75
20204-12,707,514.92
20205-13,534,554.54
20206-14,005,074.52
20207-14,830,464.27
20208-14,737,476.86
20209-14,991,845.92
202010-15,584,640.98
202011-16,248,559.23
202012-16,702,755.16
20211-17,118,909.08
20212-17,259,516.55
20213-18,298,795.94
20214-18,437,909.16
20215-18,771,713.27
20216-19,347,667.25
20217-19,770,445.09
20218-19,753,739.30
20219-19,843,060.98
202110-20,784,563.44
202111-20,839,726.42
202112-20,412,105.06
20221-19,819,629.45
20222-19,642,722.68
20223-19,665,960.38
20224-18,117,712.36
20225-17,507,256.91
20226-17,588,610.56
20227-18,722,617.56
20228-17,360,097.01
20229-16,823,466.01
202210-17,712,602.03
202211-17,714,521.63
202212-17,958,354.28
20231-18,523,498.60
20232-18,044,587.05
20233-18,765,688.68
20234-18,904,122.27
20235-19,838,399.29
20236-20,607,343.98
20237-20,401,757.54
20238-20,207,211.04
20239-19,593,454.88
202310-20,495,091.54
202311-21,555,763.15
202312-22,183,431.79
Click to show 870 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 1950 to 2023
Start Value
Average monthly close
$16.88
End Value
Average monthly close
$3,960.66
Change in price +23,363.60%
+7.76% / yr
Change incl. dividends +282,293.29%
+11.34% / yr
Change incl. dividends, inflation-adjusted +22,235.51%
+7.58% / yr
Final amount, nominal
($10000 base)
$28,239,328.83
Final amount, inflation-adjusted
($10000 base)
$2,233,550.99