S&P 500: $300 in 1924 → $7,582,799.55 in 2024

$

Stock market returns since 1924

If you invested $300 in the S&P 500 at the beginning of 1924, you would have about $7,582,799.55 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 2,527,499.85%, or 10.62% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 136,898.15% cumulatively, or 7.46% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $6,359,439.62.

The graph below shows the performance of $300 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 $300 is $7,582,499.55, or 2,527,499.85%. This means by 2024 you would have $7,582,799.55 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 1924 was 17.100 and the CPI in 2024 was 315.493.

The ratio between these CPIs describes how relative buying power of a dollar has changed over 100 years.

Adjusted for inflation, the $7,582,799.55 nominal end value of the original $300 investment would have a real return of roughly $410,694.45 in 1924 dollars. This means the inflation-adjusted return is 136,898.15% as opposed to the original 2,527,499.85%.

For more information on inflation, see our U.S. inflation calculator for 1924.

Full monthly data

The table below shows the full dataset pertaining to a $300 investment, including gains and losses over the 1205-month period between 1924 and 2024.

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

YearMonthReturn (%)Amount ($)CPI
192410.95%302.8617.30
19242-1.42%298.5817.20
19243-1.79%293.2417.10
192440.17%293.7517.00
192452.42%300.8617.00
192465.16%316.3717.00
192473.93%328.8117.10
19248-0.48%327.2417.00
19249-0.81%324.6017.10
1924106.08%344.3517.20
1924115.87%364.5617.20
1924124.58%381.2717.30
192511.29%386.1817.30
19252-2.19%377.7317.20
19253-0.61%375.4417.30
192543.67%389.2117.20
192552.24%397.9317.30
192563.22%410.7517.50
192571.79%418.0817.70
192582.74%429.5517.70
192593.73%445.5617.70
1925103.53%461.2717.70
1925112.04%470.6718.00
1925121.93%479.7317.90
192610.56%482.4117.90
19262-6.38%451.6217.90
19263-2.35%440.9817.80
192641.15%446.0717.90
192655.22%469.3417.80
192664.66%491.1917.70
192674.39%512.7717.50
192681.94%522.7417.40
19269-1.83%513.1517.50
1926101.74%522.0617.60
1926112.71%536.1917.70
192612-0.24%534.9017.70
192712.37%547.5917.50
192721.97%558.3617.40
192732.88%574.4317.30
192743.87%596.6517.30
192751.70%606.8117.40
192762.62%622.7417.60
192775.73%658.3917.30
192786.06%698.3117.20
19279-1.17%690.1717.30
1927102.66%708.5017.40
1927112.72%727.7617.30
1927120.77%733.3517.30
19281-0.83%727.2717.30
192825.75%769.0617.10
192836.66%820.3017.10
192843.44%848.4817.10
19285-4.57%809.7417.20
192861.09%818.5717.10
192873.59%847.9717.10
192887.37%910.5017.10
192892.36%931.9717.30
1928107.08%997.9717.20
1928110.70%1,004.9117.20
1928127.69%1,082.2117.10
192910.81%1,090.9917.10
192922.05%1,113.3717.10
19293-0.30%1,110.0117.00
192941.80%1,129.9516.90
192952.20%1,154.8317.00
192969.20%1,261.0817.10
192975.96%1,336.2017.30
192984.24%1,392.9117.30
19299-10.32%1,249.1017.30
192910-26.19%921.9517.30
1929114.37%962.2717.30
1929121.83%979.8417.20
193016.64%1,044.8717.10
193024.12%1,087.9417.00
193036.69%1,160.7016.90
19304-5.65%1,095.1117.00
19305-9.77%988.1216.90
19306-1.76%970.7316.80
19307-0.90%962.0316.60
193080.34%965.3316.50
19309-13.37%836.2616.60
193010-6.80%779.4016.50
193011-6.19%731.1716.40
1930123.56%757.1816.10
193118.14%818.8015.90
193122.38%838.2915.70
19313-9.08%762.1815.60
19314-9.16%692.3615.50
19315-2.68%673.8115.30
193163.86%699.8015.10
19317-2.49%682.4115.10
19318-14.37%584.3615.10
19319-12.75%509.8515.00
1931102.05%520.3314.90
193111-18.10%426.1514.70
193112-0.85%422.5314.60
19321-0.05%422.3314.30
193221.14%427.1514.10
19323-23.22%327.9514.00
19324-11.31%290.8413.90
19325-12.39%254.8013.70
193266.18%270.5613.60
1932751.35%409.5013.60
1932810.37%451.9513.50
19329-13.22%392.2213.40
193210-0.34%390.9013.30
193211-2.64%380.5813.20
1932124.57%397.9813.10
19331-11.27%353.1412.90
193320.33%354.3212.70
1933311.24%394.1512.60
1933429.32%509.7112.60
1933517.58%599.3312.60
193368.46%650.0412.70
19337-4.64%619.8713.10
19338-0.48%616.8713.20
19339-9.38%559.0313.20
1933102.80%574.6813.20
1933112.32%588.0313.20
1933126.08%623.8113.20
193417.75%672.1513.20
19342-4.80%639.8913.30
193432.02%652.8213.30
19344-9.83%588.6713.30
193451.70%598.6913.30
19346-4.36%572.6113.40
19347-3.51%552.4913.40
19348-2.01%541.3913.40
193491.21%547.9313.60
1934103.21%565.5213.50
1934111.06%571.5113.50
1934120.40%573.8313.40
19351-2.62%558.8013.60
19352-5.93%525.6613.70
193537.94%567.3913.70
193548.27%614.2913.80
193554.17%639.9213.80
193565.60%675.7613.70
193577.10%723.7713.70
193582.43%741.3813.70
193592.99%763.5213.70
1935109.71%837.6613.70
1935110.29%840.1213.80
1935125.82%889.0313.80
193616.03%942.6613.80
193622.41%965.3913.80
193630.41%969.3913.70
19364-5.02%920.7313.70
193654.57%962.8413.70
193666.23%1,022.8713.80
193672.30%1,046.3713.90
193681.44%1,061.4814.00
193695.55%1,120.4014.00
1936103.10%1,155.1514.00
193611-1.40%1,138.9814.00
1936123.46%1,178.3714.00
193713.30%1,217.2814.10
193720.23%1,220.0814.10
19373-5.62%1,151.4514.20
19374-4.09%1,104.4114.30
19375-3.34%1,067.5414.40
193766.39%1,135.7914.40
193771.44%1,152.1114.50
19378-13.76%993.5514.50
19379-14.10%853.4814.60
193710-8.27%782.9414.60
193711-1.02%774.9614.50
1937123.24%800.0414.40
19381-1.80%785.6214.20
19382-6.02%738.3314.10
19383-3.44%712.9114.10
193841.56%724.0014.20
193852.93%745.2414.10
1938620.49%897.9214.10
193871.06%907.4114.10
19388-4.08%870.3514.10
1938911.62%971.4614.10
1938100.47%975.9914.00
193811-2.55%951.0914.00
193812-1.16%940.0414.00
19391-0.46%935.7414.00
193920.27%938.2313.90
19393-12.24%823.3813.90
193944.10%857.1113.80
193952.17%875.7213.80
193962.84%900.5613.80
19397-1.07%890.9513.80
1939811.06%989.4513.80
193991.38%1,003.1414.10
193910-1.41%989.0114.00
193911-1.97%969.4914.00
193912-0.15%968.0614.00
19401-0.23%965.8513.90
19402-0.15%964.4414.00
194031.42%978.1414.00
19404-13.34%847.6414.00
19405-8.09%779.0314.00
194063.87%809.1714.10
194072.65%830.6214.00
194084.76%870.1314.00
194091.47%882.8914.00
1940102.85%908.0614.00
194011-3.59%875.4614.00
1940120.72%881.7614.10
19411-5.72%831.2914.10
194121.18%841.0714.10
19413-2.55%819.6614.20
19414-1.59%806.6414.30
194154.11%839.7714.40
194165.71%887.7414.70
194170.08%888.4114.70
194180.86%896.0714.90
19419-3.43%865.3015.10
194110-4.08%829.9615.30
194111-5.88%781.1515.40
1941122.62%801.5815.50
19421-2.48%781.7115.70
19422-4.76%744.4815.80
19423-3.45%718.7716.00
194241.87%732.2216.10
194255.75%774.3116.30
194264.38%808.2416.30
194270.05%808.6016.40
194281.66%822.0416.50
194297.97%887.5516.50
1942102.15%906.6716.70
1942111.06%916.2416.80
1942126.50%975.8416.90
194316.43%1,038.6216.90
194324.01%1,080.3216.90
194333.79%1,121.2217.20
194344.36%1,170.1417.40
194352.18%1,195.6517.50
194362.47%1,225.2117.50
19437-4.54%1,169.6017.40
194382.55%1,199.4617.30
19439-0.50%1,193.4617.40
194310-4.21%1,143.2617.40
1943111.77%1,163.4917.40
1943123.67%1,206.1517.40
19441-0.24%1,203.2017.40
194423.24%1,242.1917.40
19443-1.31%1,225.9417.40
194442.20%1,252.9517.50
194455.14%1,317.3817.50
194463.02%1,357.1517.60
19447-1.06%1,342.8217.70
19448-1.23%1,326.3717.70
194492.88%1,364.6217.70
194410-0.28%1,360.7417.70
1944112.60%1,396.1217.70
1944123.38%1,443.3717.80
194513.73%1,497.2517.80
194520.31%1,501.9717.80
194532.90%1,545.5517.80
194544.16%1,609.8517.80
194552.19%1,645.0717.90
19456-1.70%1,617.1818.10
194570.71%1,628.6118.10
194587.18%1,745.5318.10
194594.51%1,824.3218.10
1945103.61%1,890.1118.10
1945112.02%1,928.3818.10
1945124.30%2,011.2818.20
194610.59%2,023.0618.20
19462-2.68%1,968.8818.10
194636.77%2,102.1618.30
194640.52%2,113.0518.40
19465-0.34%2,105.9018.50
19466-2.55%2,052.2518.70
19467-1.62%2,018.9319.80
19468-14.42%1,727.7520.20
19469-1.87%1,695.4020.40
194610-0.01%1,695.1820.80
1946113.39%1,752.7221.30
1946120.92%1,768.8421.50
194714.27%1,844.3721.50
19472-3.67%1,776.6321.50
19473-3.30%1,718.0321.90
19474-1.36%1,694.6321.90
194753.92%1,761.0721.90
194766.69%1,878.9522.00
19477-1.56%1,849.6622.20
19478-2.17%1,809.5822.50
194793.03%1,864.3523.00
194710-0.73%1,850.7423.00
194711-1.12%1,829.9723.10
194712-0.86%1,814.1423.40
19481-4.45%1,733.4423.70
194821.92%1,766.7023.50
194838.19%1,911.3523.40
194845.33%2,013.2323.80
194854.59%2,105.5823.90
19486-1.96%2,064.3724.10
19487-2.49%2,013.0024.40
19488-0.68%1,999.3624.50
194893.19%2,063.1024.50
194810-5.10%1,957.8724.40
194811-0.16%1,954.7724.20
1948121.63%1,986.6224.10
19491-3.33%1,920.5224.00
194921.49%1,949.1623.80
194930.41%1,957.2223.80
19494-0.18%1,953.6423.90
19495-4.91%1,857.6723.80
194966.26%1,974.0223.90
194974.17%2,056.3423.70
194981.87%2,094.8223.80
194993.14%2,160.6423.90
1949101.95%2,202.7123.70
1949113.24%2,274.1223.80
1949122.63%2,333.9323.60
195012.52%2,392.8123.50
195021.38%2,425.7123.50
195033.39%2,507.8523.60
195043.91%2,606.0223.60
195052.16%2,662.4323.70
19506-6.72%2,483.4223.80
195076.64%2,648.2624.10
195084.11%2,757.0624.30
195094.72%2,887.2424.40
1950100.38%2,898.0924.60
1950110.19%2,903.7424.70
1950128.01%3,136.4025.00
195114.31%3,271.5425.40
19512-1.11%3,235.1525.70
195131.93%3,297.4725.80
195140.63%3,318.2025.80
19515-1.15%3,280.2025.90
195162.37%3,357.8325.90
195174.97%3,524.5625.90
195183.14%3,635.0825.90
195190.03%3,636.1126.10
195110-2.25%3,554.1726.20
1951113.61%3,682.5926.40
1951123.83%3,823.7826.50
19521-1.33%3,772.8426.50
195220.75%3,801.1326.30
195230.20%3,808.8526.30
195240.46%3,826.3626.40
195253.24%3,950.5226.40
195263.37%4,083.5326.50
195270.88%4,119.4826.70
19528-1.11%4,073.8126.70
19529-1.61%4,008.1926.70
1952103.67%4,155.1926.70
1952114.51%4,342.5426.70
1952120.99%4,385.4926.70
19531-0.77%4,351.5726.60
195320.96%4,393.2126.50
19533-4.47%4,196.7126.60
195341.00%4,238.7926.60
19535-3.11%4,107.0626.70
195361.91%4,185.6626.80
195370.90%4,223.2926.80
19538-4.11%4,049.8426.90
195393.52%4,192.2626.90
1953102.71%4,305.8027.00
1953111.84%4,384.8826.90
1953123.02%4,517.4826.90
195412.68%4,638.3826.90
195422.58%4,758.1626.90
195434.45%4,969.9226.90
195444.42%5,189.7226.80
195451.22%5,253.1926.90
195464.46%5,487.3526.90
195472.39%5,618.7326.90
195482.74%5,772.6726.90
195492.71%5,929.1526.80
1954104.30%6,184.2326.80
1954114.95%6,490.5526.80
1954122.17%6,631.3026.70
195513.70%6,876.9826.70
19552-0.44%6,846.9626.70
195533.81%7,107.7126.70
19554-0.08%7,102.1226.70
195556.15%7,538.5526.70
195567.64%8,114.8026.70
19557-0.30%8,090.5126.80
195584.82%8,480.1926.80
19559-4.72%8,079.5126.90
1955107.07%8,650.4226.90
1955111.24%8,757.4426.90
195512-2.39%8,548.3426.80
195610.95%8,629.4926.80
195627.21%9,251.3426.80
195631.48%9,388.5226.80
19564-2.84%9,122.0326.90
19565-0.26%9,098.1327.00
195665.75%9,621.1727.20
19567-0.28%9,593.7727.40
19568-3.09%9,297.4427.30
19569-0.95%9,208.7827.40
195610-0.71%9,143.1727.50
1956111.81%9,308.5627.50
195612-1.86%9,135.1827.60
19571-4.00%8,770.1627.60
195721.62%8,912.2827.70
195732.64%9,147.9327.80
195744.16%9,528.5027.90
195751.95%9,714.7028.00
195762.32%9,940.2928.10
19577-5.21%9,422.8828.30
19578-3.74%9,070.5228.30
19579-5.90%8,535.6728.30
195710-1.80%8,381.9928.30
1957110.32%8,408.6528.40
1957122.33%8,604.4628.40
195810.70%8,664.8528.60
195822.42%8,874.4528.60
195830.90%8,954.0028.80
195843.56%9,272.5728.90
195852.74%9,526.2028.90
195863.07%9,818.7228.90
195874.05%10,216.8029.00
195882.94%10,517.5628.90
195894.36%10,976.0228.90
1958103.33%11,341.1128.90
1958112.16%11,586.3529.00
1958124.25%12,079.3228.90
19591-1.27%11,926.5129.00
195922.81%12,261.1928.90
195931.94%12,498.6228.90
195941.77%12,719.2729.00
19595-0.61%12,642.1629.00
195964.23%13,176.6229.10
19597-0.32%13,134.6529.20
19598-3.70%12,648.2429.20
195990.18%12,670.6029.30
1959100.67%12,755.3829.40
1959113.46%13,197.1129.40
195912-1.49%13,001.0329.40
19601-3.61%12,531.7929.30
19602-1.08%12,396.6829.40
196031.58%12,593.0829.40
19604-0.62%12,514.4329.50
196053.99%13,013.5229.50
19606-2.20%12,727.7229.60
196071.49%12,917.4829.60
19608-2.72%12,566.0229.60
19609-1.67%12,355.6729.60
1960103.54%12,793.1729.80
1960112.69%13,137.3929.80
1960125.43%13,850.3429.80
196114.37%14,456.1729.80
196123.40%14,947.2629.80
196132.92%15,383.5729.80
196141.26%15,577.9229.80
19615-1.08%15,409.6529.80
19616-0.03%15,405.3429.80
196173.84%15,996.7530.00
19618-0.54%15,910.0929.90
196191.34%16,123.7730.00
1961104.77%16,893.2130.00
1961111.16%17,089.6830.00
196112-3.49%16,493.7430.00
196211.91%16,808.6930.00
196220.34%16,866.0030.10
19623-2.94%16,369.3130.10
19624-7.19%15,193.1630.20
19625-11.41%13,459.2030.20
196262.72%13,824.9430.20
196273.02%14,242.8730.30
19628-0.59%14,158.3630.30
19629-2.86%13,753.9530.40
1962107.20%14,744.3630.40
1962114.62%15,426.1030.40
1962124.15%16,065.7830.40
196311.60%16,322.1130.40
19632-0.11%16,304.4430.40
196334.98%17,116.1030.50
196342.27%17,504.5630.50
196350.22%17,542.4830.50
19636-1.22%17,328.1330.60
196373.03%17,853.3730.70
196382.89%18,369.9830.70
196390.50%18,461.8130.70
196310-0.31%18,405.2130.80
1963112.39%18,845.7130.80
1963123.33%19,473.3130.90
196411.48%19,761.5030.90
196422.07%20,170.7730.90
196431.69%20,512.2830.90
196441.22%20,762.6030.90
19645-0.35%20,689.7930.90
196463.96%21,509.3231.00
19647-1.23%21,245.6931.10
196481.97%21,663.2631.00
196491.97%22,090.0731.10
1964100.94%22,297.0431.10
196411-1.49%21,964.7531.20
1964122.82%22,584.3231.20
196510.98%22,804.5431.20
196520.34%22,881.0631.20
196531.56%23,237.4731.30
196541.73%23,640.0831.40
19655-4.51%22,574.5431.40
196560.10%22,597.7631.60
196572.12%23,076.5231.60
196583.60%23,906.3731.60
196592.50%24,503.2831.60
1965101.08%24,766.9231.70
196511-0.21%24,714.5131.70
1965121.98%25,203.9731.80
19661-0.43%25,095.4931.80
19662-3.86%24,126.2232.00
196633.32%24,927.4432.10
19664-5.01%23,679.1832.30
19665-0.56%23,546.6932.30
196660.02%23,551.0232.40
19667-5.77%22,192.2532.50
19668-3.22%21,476.5932.70
19669-0.56%21,355.3732.70
1966105.32%22,490.6432.90
1966110.72%22,651.6232.90
1966124.13%23,587.2032.90
196713.73%24,467.0132.90
196722.63%25,111.4132.90
196731.99%25,611.7433.00
196742.06%26,138.7533.10
19675-0.99%25,879.5033.20
196761.99%26,395.1333.30
196771.85%26,883.8733.40
196781.65%27,328.5133.50
196790.10%27,355.1333.60
196710-2.88%26,566.8333.70
1967113.11%27,393.5233.80
196712-0.02%27,388.7333.90
19681-4.26%26,222.7934.10
19682-1.56%25,813.9234.20
196837.66%27,791.7134.30
196842.56%28,502.5434.40
196852.94%29,340.7134.50
196860.05%29,355.0734.70
19687-1.93%28,787.3634.90
196883.51%29,797.1335.00
196892.72%30,606.7735.10
1968101.79%31,153.3335.30
1968111.29%31,553.7535.40
196812-3.99%30,296.2935.50
19691-0.24%30,224.0235.60
19692-1.91%29,645.5935.80
196932.27%30,319.8136.10
196943.51%31,385.0936.30
19695-4.97%29,824.8436.40
19696-4.21%28,570.6136.60
19697-0.28%28,489.5836.80
196980.63%28,668.6437.00
196991.35%29,054.6437.10
1969101.00%29,344.4537.30
196911-5.03%27,869.1637.50
196912-0.59%27,705.0037.70
19701-3.20%26,819.5337.80
197022.01%27,359.2138.00
19703-2.75%26,607.4638.20
19704-11.20%23,627.6838.50
19705-0.27%23,563.9238.60
197060.52%23,687.0538.80
197073.26%24,458.2539.00
197086.32%26,004.3339.00
197092.49%26,651.7139.20
1970100.21%26,706.8139.40
1970117.16%28,618.5839.60
1970124.11%29,795.0039.80
197114.15%31,031.8139.80
197122.83%31,910.5839.90
197133.67%33,082.9340.00
19714-1.11%32,716.4140.10
19715-1.60%32,194.3040.30
19716-0.46%32,045.2640.60
19717-1.52%31,559.0940.70
197182.49%32,343.7840.80
19719-1.86%31,740.9940.80
197110-4.37%30,353.4340.90
1971117.16%32,527.8340.90
1971124.42%33,966.3841.10
197212.09%34,675.2541.10
197222.62%35,583.6141.30
197231.26%36,031.5741.40
19724-0.78%35,752.0041.50
197250.52%35,936.5241.60
19726-0.50%35,755.4541.70
197273.78%37,108.3241.90
19728-1.21%36,659.1442.00
197290.42%36,812.1742.10
1972105.25%38,746.3542.30
1972112.31%39,641.9842.40
1972120.99%40,034.1942.50
19731-3.33%38,703.0042.60
19732-1.35%38,182.3142.90
19733-1.63%37,558.6843.30
19734-2.57%36,593.5143.60
19735-1.99%35,865.3743.90
197361.21%36,299.4344.20
19737-1.64%35,705.7844.30
197382.00%36,418.2245.10
197394.24%37,960.6545.20
197310-6.85%35,359.2545.60
197311-6.81%32,952.9645.90
1973121.70%33,513.3046.20
19741-2.47%32,684.5646.60
197424.57%34,179.7647.20
19743-4.82%32,533.4547.80
19744-2.71%31,653.2048.00
197450.46%31,797.9348.60
19746-11.35%28,189.8649.00
19747-3.76%27,128.5849.40
19748-10.01%24,412.0450.00
197492.38%24,992.2950.60
1974103.74%25,927.8751.10
197411-6.09%24,348.3851.50
1974128.63%26,450.3351.90
1975110.81%29,308.9552.10
197524.97%30,766.6852.50
197531.49%31,224.1852.70
197546.71%33,320.1552.90
197552.89%34,284.6453.20
197560.43%34,432.7553.60
19757-7.00%32,023.7554.20
19758-0.85%31,750.6954.30
197594.97%33,329.1054.60
1975102.04%34,009.5854.90
197511-1.18%33,608.3955.30
1975129.55%36,816.4155.50
197614.18%38,354.6555.60
197620.80%38,662.4155.80
197631.10%39,085.9355.90
19764-0.38%38,936.1356.10
197650.90%39,286.7856.50
197662.67%40,333.9156.80
19767-0.56%40,107.7957.10
197682.44%41,085.5757.40
19769-3.11%39,808.5557.60
197610-0.37%39,662.5957.90
1976113.79%41,164.4258.00
197612-0.54%40,943.2658.20
19771-2.37%39,973.4858.50
19772-0.05%39,951.8259.10
19773-1.19%39,474.9359.50
197740.06%39,500.3960.00
197750.90%39,855.8060.30
197761.28%40,366.9360.70
19777-2.08%39,527.8561.00
19778-1.18%39,063.2761.20
19779-2.20%38,204.7161.40
1977100.98%38,579.5561.60
197711-0.08%38,548.6461.90
197712-3.39%37,241.7062.10
19781-0.97%36,879.7162.50
197820.27%36,977.6962.90
197834.83%38,763.7163.40
197845.50%40,897.3963.90
197850.67%41,172.8664.50
19786-0.06%41,147.2165.20
197877.33%44,162.5365.70
197880.40%44,339.0566.00
19789-2.77%43,109.3066.50
197810-5.44%40,765.1767.10
1978111.92%41,549.0167.40
1978124.19%43,287.9767.70
19791-1.06%42,830.4368.30
197922.34%43,833.1669.10
197932.43%44,898.7169.80
19794-1.89%44,048.7670.60
197952.42%45,113.7071.50
197961.42%45,754.7072.30
197975.01%48,048.9973.10
197981.54%48,789.1673.80
19799-3.35%47,153.5074.60
197910-0.32%47,001.4675.20
1979114.40%49,071.4075.90
1979123.31%50,696.8776.70
198014.40%52,925.4377.80
19802-8.78%48,279.7378.90
19803-1.16%47,718.7080.10
198045.04%50,121.8881.00
198056.86%53,561.5881.80
198064.97%56,223.3082.70
198073.50%58,193.7582.70
198082.84%59,844.0183.30
198093.32%61,833.6984.00
1980104.61%64,687.1384.80
198011-1.24%63,881.9185.50
1980120.01%63,888.2986.30
19811-3.07%61,926.8187.00
198124.14%64,492.6387.90
198131.29%65,327.0388.50
19814-1.62%64,270.5189.10
198150.86%64,821.6989.80
19816-2.02%63,514.7290.60
198170.80%64,024.4791.60
19818-8.30%58,708.7292.30
198191.73%59,722.7693.20
1981103.04%61,540.5693.40
1981111.18%62,266.3593.70
198112-4.80%59,275.0094.00
19821-1.91%58,140.5494.30
19822-2.74%56,544.8594.60
198235.47%59,637.4794.50
198240.57%59,977.1994.90
19825-5.27%56,816.0295.80
198260.24%56,954.5697.00
198270.79%57,406.7797.50
1982812.10%64,350.9197.70
198298.88%70,066.1797.90
1982104.50%73,219.0998.20
1982111.36%74,211.5798.00
1982123.93%77,124.9497.60
198312.13%78,767.7197.80
198323.87%81,812.5797.90
198334.20%85,246.5697.90
198344.42%89,017.8798.60
198351.75%90,578.8199.20
198360.71%91,220.2299.50
19837-2.41%89,024.3899.90
198383.31%91,974.50100.20
198390.65%92,570.43100.70
198310-1.14%91,513.81101.00
198311-0.13%91,396.56101.20
1983121.58%92,836.91101.30
19841-5.11%88,090.92101.90
198420.44%88,480.60102.40
198430.51%88,929.37102.60
19844-0.25%88,704.76103.10
19845-1.85%87,065.22103.40
19846-0.91%86,274.28103.70
198479.21%94,217.17104.10
198481.41%95,542.78104.50
19849-0.41%95,148.76105.00
1984101.29%96,372.28105.30
198411-0.71%95,690.39105.30
1984124.70%100,185.51105.30
198515.79%105,983.61105.50
19852-0.48%105,476.67106.00
198531.02%106,557.50106.40
198542.74%109,472.53106.90
198552.51%112,221.35107.30
198562.25%114,743.21107.60
19857-1.85%112,625.84107.80
19858-1.88%110,502.85108.00
198591.50%112,155.49108.30
1985106.42%119,356.45108.70
1985115.29%125,675.79109.00
1985120.75%126,620.54109.30
198615.70%133,834.42109.60
198626.18%142,109.10109.30
198632.74%146,004.91108.80
198640.49%146,723.01108.60
198653.13%151,320.19108.90
19866-1.80%148,590.51109.50
198672.28%151,979.64109.50
19868-2.46%148,246.66109.70
19869-0.09%148,113.43110.20
1986103.53%153,346.20110.30
1986111.71%155,966.79110.40
1986126.67%166,375.04110.50
198716.46%177,125.99111.20
198724.38%184,877.75111.60
19873-0.86%183,294.43112.10
198740.17%183,611.22112.70
198754.50%191,870.87113.10
198763.12%197,861.26113.50
198776.45%210,631.25113.80
19878-3.03%204,248.23114.40
19879-11.85%180,036.88115.00
198710-12.30%157,886.20115.30
198711-1.33%155,778.90115.40
1987124.25%162,394.11115.40
198813.33%167,799.51115.70
198823.23%173,222.89116.00
19883-0.89%171,688.09116.50
19884-2.19%167,931.10117.10
198856.00%178,003.94117.50
19886-0.31%177,457.61118.00
19887-1.72%174,408.03118.50
198881.93%177,769.16119.00
198893.80%184,527.27119.80
198810-2.02%180,799.36120.20
1988112.33%185,004.67120.30
1988123.51%191,503.25120.50
198913.30%197,822.57121.10
19892-0.16%197,502.77121.60
198933.56%204,543.35122.30
198944.12%212,960.93123.10
198953.39%220,185.89123.80
198962.80%226,351.48124.10
198974.69%236,969.07124.40
198980.46%238,048.55124.60
198990.29%238,729.98125.00
198910-1.81%234,400.49125.60
1989112.74%240,815.34125.90
198912-2.21%235,490.37126.10
19901-2.53%229,539.09127.40
199022.71%235,753.10128.00
199030.20%236,215.14128.70
199043.85%245,311.61128.90
199053.17%253,087.88129.20
199060.17%253,517.43129.90
19907-7.86%233,587.85130.40
19908-4.34%223,447.66131.60
19909-2.32%218,273.13132.70
1990102.98%224,786.00133.50
1990114.59%235,096.04133.80
199012-0.69%233,485.23133.80
1991111.61%260,585.34134.60
199123.04%268,519.17134.80
199132.26%274,584.56135.00
19914-0.18%274,093.39135.20
199150.35%275,044.52135.60
199160.78%277,191.21136.00
199172.68%284,616.97136.20
19918-0.30%283,754.30136.60
199190.18%284,269.73137.20
1991100.02%284,314.63137.40
1991110.94%286,973.37137.80
1991127.36%308,088.94137.90
19921-0.60%306,237.80138.10
19922-1.01%303,137.52138.60
199230.26%303,938.72139.30
199242.07%310,225.24139.50
19925-1.33%306,101.96139.70
199261.91%311,955.04140.20
199270.94%314,892.78140.50
199280.38%316,083.67140.90
19929-1.18%312,347.38141.30
1992102.76%320,958.50141.80
1992113.27%331,457.69142.00
1992120.14%331,931.32141.90
199311.72%337,654.64142.60
199322.15%344,914.73143.10
19933-1.34%340,286.85143.60
199340.72%342,752.99144.00
199350.87%345,718.43144.20
199360.06%345,929.33144.40
199371.76%352,026.22144.40
199381.35%356,796.08144.80
199391.24%361,227.15145.10
1993100.01%361,254.41145.70
1993110.89%364,459.38145.80
1993121.74%370,785.96145.80
19941-0.08%370,505.27146.20
19942-1.42%365,229.95146.70
19943-3.35%353,007.98147.20
199441.06%356,743.66147.40
199451.11%360,696.71147.50
19946-0.52%358,825.14148.00
199473.08%369,884.41148.40
199480.82%372,908.09149.00
19949-0.44%371,252.35149.40
199410-0.37%369,879.15149.50
199411-1.03%366,085.28149.70
1994122.45%375,058.66149.70
199513.82%389,382.50150.30
199522.56%399,343.57150.90
199533.22%412,184.68151.40
199543.35%425,983.63151.90
199553.18%439,523.19152.20
199563.55%455,115.18152.50
199570.51%457,450.49152.50
199583.72%474,456.96152.90
199590.91%478,786.70153.20
1995102.36%490,078.34153.70
1995113.39%506,687.77153.60
1995120.16%507,511.54153.50
199615.90%537,477.02154.40
19962-0.20%536,398.32154.90
199630.20%537,455.25155.70
199642.35%550,111.38156.30
199651.28%557,145.07156.60
19966-3.48%537,775.56156.70
199673.08%554,316.21157.00
199682.02%565,534.06157.30
199694.12%588,831.22157.80
1996105.05%618,579.45158.30
1996111.20%625,991.44158.60
1996123.26%646,383.36158.60
199714.36%674,573.20159.10
19972-0.62%670,365.99159.60
19973-3.41%647,538.37160.00
199749.22%707,227.37160.20
199755.34%744,970.85160.10
199765.74%787,701.82160.30
199770.35%790,441.36160.50
199781.19%799,863.49160.80
199791.65%813,024.25161.20
199710-1.15%803,657.86161.60
1997112.63%824,831.16161.50
1997120.24%826,786.74161.30
199816.40%879,718.93161.60
199825.31%926,457.28161.90
199833.41%958,009.40162.20
19984-0.22%955,883.99162.50
199850.12%956,997.18162.80
199864.47%999,752.62163.00
19987-6.97%930,059.80163.20
19988-4.90%884,501.28163.40
199891.29%895,918.92163.60
19981010.97%994,240.51164.00
1998114.10%1,035,045.18164.00
1998125.05%1,087,291.03163.90
19991-0.07%1,086,565.69164.30
199922.92%1,118,331.55164.50
199934.25%1,165,860.89165.00
19994-0.10%1,164,708.64166.20
19995-0.61%1,157,583.34166.20
199964.52%1,209,933.74166.20
19997-3.77%1,164,266.18166.70
19998-0.60%1,157,303.67167.10
19999-1.27%1,142,577.31167.90
1999107.11%1,223,768.28168.20
1999112.81%1,258,140.64168.30
199912-0.12%1,256,644.30168.30
20001-2.48%1,225,503.68168.80
200023.94%1,273,800.21169.80
200031.42%1,291,947.60171.20
20004-2.84%1,255,271.87171.30
200053.16%1,294,982.15171.50
200060.85%1,305,993.93172.40
200070.94%1,318,266.50172.80
20008-1.08%1,304,033.83172.80
20009-5.21%1,236,038.51173.70
200010-0.77%1,226,489.32174.00
200011-3.32%1,185,768.97174.10
2000120.46%1,191,164.31174.00
20011-2.14%1,165,717.97175.10
20012-9.08%1,059,871.91175.80
200130.45%1,064,627.49176.20
200146.88%1,137,866.76176.90
20015-2.39%1,110,687.08177.70
20016-2.66%1,081,140.28178.00
20017-2.05%1,059,021.88177.50
20018-11.25%939,910.25177.50
200193.18%969,837.29178.30
2001105.05%1,018,844.59177.70
2001111.47%1,033,781.35177.40
200112-0.30%1,030,703.90176.70
20021-3.35%996,146.77177.10
200224.95%1,045,408.93177.80
20023-3.51%1,008,668.74178.80
20024-2.82%980,220.54179.80
20025-5.92%922,182.09179.80
20026-10.76%822,969.13179.90
200271.14%832,341.03180.10
20028-4.76%792,740.49180.70
20029-1.37%781,903.39181.00
2002106.63%833,709.00181.30
200211-1.04%825,079.60181.30
200212-0.22%823,243.65180.90
20031-6.41%770,433.92181.70
200321.31%780,510.41183.10
200335.29%821,767.09184.20
200345.31%865,421.10183.80
200355.70%914,786.32183.50
200360.60%920,237.54183.70
20037-0.17%918,706.96183.90
200383.16%947,748.95184.60
200392.03%966,967.68185.20
2003101.21%978,673.66185.00
2003113.06%1,008,658.36184.50
2003124.93%1,058,435.26184.30
200411.09%1,069,936.88185.20
20042-1.57%1,053,190.26186.20
200430.97%1,063,386.58187.40
20044-2.56%1,036,118.66188.00
200452.86%1,065,727.58189.10
20046-2.24%1,041,868.29189.70
20047-1.39%1,027,411.64189.40
200482.78%1,056,000.64189.50
200490.10%1,057,084.05189.90
2004104.77%1,107,548.14190.90
2004112.73%1,137,755.94191.00
200412-1.35%1,122,405.09190.30
200511.68%1,141,275.04190.70
20052-0.26%1,138,358.07191.80
20053-2.41%1,110,935.96193.30
200541.34%1,125,776.62194.60
200552.18%1,150,326.41194.40
200561.81%1,171,121.90194.50
200570.31%1,174,752.59195.40
200580.28%1,178,038.26196.40
20059-2.62%1,147,123.95198.80
2005103.96%1,192,567.75199.20
2005112.14%1,218,137.97197.60
2005121.47%1,236,005.25196.80
20061-0.02%1,235,799.59198.30
200621.49%1,254,165.27198.70
200630.80%1,264,177.67199.80
20064-0.79%1,254,233.19201.50
20065-2.71%1,220,296.24202.50
200660.72%1,229,082.87202.90
200672.29%1,257,250.49203.50
200682.53%1,289,073.68203.90
200693.62%1,335,685.46202.90
2006102.00%1,362,421.12201.80
2006112.15%1,391,689.53201.50
2006120.69%1,401,331.53201.80
200711.60%1,423,697.45202.42
20072-2.47%1,388,476.73203.50
200734.18%1,446,518.66205.35
200743.39%1,495,581.01206.69
200750.34%1,500,739.29207.95
200760.57%1,509,362.83208.35
20077-4.20%1,445,952.87208.30
200783.07%1,490,412.21207.92
200792.99%1,534,999.87208.49
200710-4.81%1,461,223.02208.94
2007111.24%1,479,316.19210.18
200712-6.64%1,381,160.64210.04
20081-1.56%1,359,559.76211.08
20082-2.63%1,323,849.08211.69
200834.24%1,380,030.62213.53
200842.56%1,415,395.34214.82
20085-4.25%1,355,289.42216.63
20086-6.08%1,272,908.54218.82
200872.11%1,299,773.71219.96
20088-4.85%1,236,766.71219.09
20089-20.19%987,019.17218.78
200810-8.61%902,082.74216.57
200811-0.35%898,914.47212.43
200812-1.10%889,066.35210.23
20091-6.70%829,476.62211.14
20092-5.69%782,300.67212.19
2009312.32%878,693.80212.71
200946.66%937,213.24213.24
200952.87%964,100.59213.86
200961.28%976,418.34215.69
200978.12%1,055,710.79215.35
200983.65%1,094,247.85215.83
200992.40%1,120,543.81215.97
2009102.09%1,144,011.65216.18
2009112.23%1,169,475.72216.33
2009121.36%1,185,345.13215.95
20101-2.90%1,150,988.22216.69
201025.94%1,219,391.86216.74
201034.09%1,269,239.75217.63
20104-5.88%1,194,578.03218.01
20105-3.54%1,152,247.39218.18
20106-0.16%1,150,414.48217.97
201070.86%1,160,349.59218.01
201083.37%1,199,466.77218.31
201094.58%1,254,371.60218.44
2010102.49%1,285,616.92218.71
2010113.71%1,333,361.34218.80
2010123.46%1,379,524.89219.18
201113.15%1,422,991.84220.22
20112-1.11%1,407,161.61221.31
201132.22%1,438,414.43223.47
201140.66%1,447,896.96224.91
20115-3.66%1,394,866.28225.96
201163.10%1,438,131.35225.72
20117-10.40%1,288,556.38225.92
20118-0.79%1,278,386.52226.55
201193.02%1,316,979.80226.89
2011101.77%1,340,252.45226.42
2011111.55%1,361,090.04226.23
2011124.78%1,426,184.96225.67
201214.16%1,485,551.46226.67
201222.88%1,528,392.34227.66
20123-0.04%1,527,808.34229.39
20124-3.09%1,480,584.51230.09
20125-1.15%1,463,522.09229.82
201262.92%1,506,272.84229.48
201273.39%1,557,300.86229.10
201283.02%1,604,349.51230.38
20129-0.22%1,600,865.91231.41
201210-2.84%1,555,441.43231.32
2012112.18%1,589,280.61230.22
2012124.27%1,657,123.21229.60
201312.33%1,695,784.25230.28
201322.72%1,741,951.20232.17
201331.45%1,767,275.54232.77
201344.57%1,848,115.49232.53
20135-1.12%1,827,457.71232.95
201363.25%1,886,931.91233.50
201370.25%1,891,696.94233.60
201381.19%1,914,254.81233.88
201392.12%1,954,790.11234.15
2013103.86%2,030,244.90233.55
2013111.52%2,061,138.35233.07
2013120.97%2,081,086.21233.05
20141-0.13%2,078,380.05233.92
201422.72%2,134,959.15234.78
201430.20%2,139,265.88236.29
201441.53%2,172,040.17237.07
201453.20%2,241,465.48237.90
201461.50%2,274,993.81238.34
20147-0.43%2,265,280.71238.25
201481.78%2,305,558.17237.85
20149-2.65%2,244,539.64238.03
2014105.71%2,372,605.26237.43
2014110.63%2,387,644.92236.15
201412-1.11%2,361,140.97234.81
201512.83%2,427,899.83233.71
201520.06%2,429,243.99234.72
201530.88%2,450,582.71236.12
201540.98%2,474,571.56236.60
20155-0.44%2,463,794.80237.81
20156-0.08%2,461,832.88238.64
20157-2.42%2,402,148.26238.65
20158-4.51%2,293,881.15238.32
201594.32%2,392,910.73237.95
2015102.93%2,463,082.12237.84
201511-1.10%2,435,915.07237.34
201512-6.42%2,279,538.53236.53
20161-0.55%2,267,003.14236.92
201626.36%2,411,246.38237.11
201632.83%2,479,515.04238.13
20164-0.30%2,471,968.25239.26
201651.07%2,498,331.55240.23
201663.30%2,580,712.51241.02
201671.20%2,611,661.89240.63
20168-0.44%2,600,205.28240.85
20169-0.51%2,587,048.73241.43
2016101.20%2,618,123.34241.73
2016113.95%2,721,433.54241.35
2016121.44%2,760,557.82241.43
201712.58%2,831,682.08242.84
201721.75%2,881,215.47243.60
20173-0.15%2,876,778.28243.80
201741.69%2,925,464.11244.52
201751.78%2,977,432.87244.73
201760.99%3,006,846.46244.96
201770.25%3,014,297.58244.79
201781.65%3,064,131.85245.52
201792.73%3,147,929.70246.82
2017101.59%3,197,968.22246.66
2017112.88%3,290,181.19246.67
2017124.86%3,450,146.45246.52
20181-2.89%3,350,551.54247.87
201820.06%3,352,715.27248.99
20183-1.66%3,296,927.03249.55
201841.96%3,361,600.25250.55
201852.11%3,432,629.84251.59
201861.58%3,486,890.86251.99
201872.45%3,572,347.76252.01
201881.68%3,632,354.19252.15
20189-3.85%3,492,545.38252.44
201810-2.08%3,420,036.35252.89
201811-5.56%3,229,796.41252.04
2018121.74%3,285,853.94251.23
201915.83%3,477,383.16251.71
201921.95%3,545,123.35252.78
201933.72%3,677,116.08254.20
20194-1.53%3,620,790.43255.55
201951.40%3,671,653.46256.09
201963.83%3,812,180.26256.14
20197-3.13%3,692,690.75256.57
201983.09%3,806,618.65256.56
201990.01%3,806,991.81256.76
2019104.43%3,975,782.11257.35
2019112.47%4,073,956.89257.21
2019123.35%4,210,287.68256.97
202010.12%4,215,427.46257.97
20202-18.92%3,417,965.16258.68
202034.32%3,565,573.90258.12
202045.89%3,775,492.26256.39
202056.51%4,021,211.56256.39
202063.48%4,161,006.36257.80
202075.89%4,406,235.48259.10
20208-0.63%4,378,608.26259.92
202091.73%4,454,183.10260.28
2020103.95%4,630,306.69260.39
2020114.26%4,827,561.48260.23
2020122.80%4,962,506.30260.47
202112.49%5,086,148.56261.58
202120.82%5,127,924.03263.01
202136.02%5,436,701.27264.88
202140.76%5,478,032.78267.05
202151.81%5,577,208.34269.20
202163.07%5,748,328.32271.70
202172.19%5,873,938.60273.00
20218-0.08%5,868,975.19273.57
202190.45%5,895,513.29274.31
2021104.74%6,175,240.31276.59
2021110.27%6,191,629.62277.95
202112-2.05%6,064,580.30278.80
20221-2.90%5,888,551.62281.15
20222-0.89%5,835,991.37283.72
202230.12%5,842,895.46287.50
20224-7.87%5,382,900.06289.11
20225-3.37%5,201,529.44292.30
202260.46%5,225,700.18296.31
202276.45%5,562,621.65296.28
20228-7.28%5,157,807.20296.17
20229-3.09%4,998,370.34296.81
2022105.29%5,262,538.92298.01
2022110.01%5,263,109.25297.71
2022121.38%5,335,553.65296.80
202313.15%5,503,462.01299.17
20232-2.59%5,361,174.01300.84
202334.00%5,575,418.39301.84
202340.74%5,616,547.99303.36
202354.94%5,894,128.27304.13
202363.88%6,122,587.16305.11
20237-1.00%6,061,505.98305.69
20238-0.95%6,003,704.84307.03
20239-3.04%5,821,353.56307.79
2023104.60%6,089,236.17307.67
2023115.18%6,404,369.18307.05
2023122.91%6,590,853.96306.75
202414.20%6,867,621.81308.42
202423.28%7,093,025.40310.33
20243-1.01%7,021,447.69312.33
202442.52%7,198,157.37313.55
202455.34%7,582,799.55314.07
Click to show 1194 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 $300.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $300.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1924. This would result in a final amount of $6,359,439.62, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $7,582,799.55).

YearMonthContribution ($)Amount ($)
1924112.5012.56
1924212.5024.64
1924312.5036.41
1924412.5048.93
1924512.5062.85
1924612.5079.17
1924712.5095.21
1924812.50107.14
1924912.50118.61
19241012.50139.03
19241112.50160.36
19241212.50180.73
1925112.50195.66
1925212.50203.55
1925312.50214.68
1925412.50235.46
1925512.50253.46
1925612.50274.47
1925712.50292.04
1925812.50312.84
1925912.50337.41
19251012.50362.20
19251112.50382.28
19251212.50402.33
19261-404.58
19262-378.76
19263-369.84
19264-374.10
19265-393.62
19266-411.95
19267-430.04
19268-438.40
19269-430.36
192610-437.84
192611-449.68
192612-448.60
19271-459.25
19272-468.28
19273-481.75
19274-500.39
19275-508.91
19276-522.27
19277-552.17
19278-585.65
19279-578.82
192710-594.20
192711-610.34
192712-615.03
19281-609.94
19282-644.99
19283-687.96
19284-711.59
19285-679.10
19286-686.51
19287-711.16
19288-763.61
19289-781.61
192810-836.97
192811-842.78
192812-907.62
19291-914.98
19292-933.74
19293-930.93
19294-947.65
19295-968.52
19296-1,057.62
19297-1,120.63
19298-1,168.19
19299-1,047.58
192910-773.21
192911-807.02
192912-821.76
19301-876.30
19302-912.42
19303-973.44
19304-918.43
19305-828.70
19306-814.12
19307-806.82
19308-809.59
19309-701.34
193010-653.65
193011-613.21
193012-635.02
19311-686.70
19312-703.05
19313-639.21
19314-580.66
19315-565.11
19316-586.90
19317-572.32
19318-490.08
19319-427.60
193110-436.38
193111-357.40
193112-354.36
19321-354.20
19322-358.24
19323-275.04
19324-243.92
19325-213.69
19326-226.91
19327-343.43
19328-379.04
19329-328.94
193210-327.84
193211-319.18
193212-333.77
19331-296.17
19332-297.15
19333-330.56
19334-427.48
19335-502.64
19336-545.17
19337-519.86
19338-517.35
19339-468.84
193310-481.97
193311-493.16
193312-523.17
19341-563.71
19342-536.66
19343-547.49
19344-493.69
19345-502.10
19346-480.23
19347-463.35
19348-454.05
19349-459.53
193410-474.29
193411-479.31
193412-481.25
19351-468.65
19352-440.86
19353-475.85
19354-515.18
19355-536.68
19356-566.73
19357-607.00
19358-621.77
19359-640.34
193510-702.52
193511-704.58
193512-745.60
19361-790.58
19362-809.64
19363-813.00
19364-772.19
19365-807.51
19366-857.85
19367-877.56
19368-890.23
19369-939.64
193610-968.79
193611-955.22
193612-988.26
19371-1,020.89
19372-1,023.24
19373-965.69
19374-926.23
19375-895.31
19376-952.55
19377-966.24
19378-833.26
19379-715.79
193710-656.62
193711-649.93
193712-670.97
19381-658.87
19382-619.22
19383-597.89
19384-607.20
19385-625.01
19386-753.05
19387-761.02
19388-729.94
19389-814.73
193810-818.53
193811-797.65
193812-788.38
19391-784.77
19392-786.86
19393-690.54
19394-718.83
19395-734.44
19396-755.27
19397-747.21
19398-829.82
19399-841.30
193910-829.45
193911-813.08
193912-811.88
19401-810.03
19402-808.85
19403-820.33
19404-710.89
19405-653.35
19406-678.63
19407-696.61
19408-729.75
19409-740.45
194010-761.56
194011-734.22
194012-739.50
19411-697.17
19412-705.38
19413-687.42
19414-676.51
19415-704.28
19416-744.51
19417-745.08
19418-751.50
19419-725.70
194110-696.06
194111-655.12
194112-672.26
19421-655.60
19422-624.37
19423-602.81
19424-614.09
19425-649.39
19426-677.84
19427-678.15
19428-689.42
19429-744.35
194210-760.39
194211-768.42
194212-818.40
19431-871.05
19432-906.02
19433-940.33
19434-981.36
19435-1,002.75
19436-1,027.54
19437-980.91
19438-1,005.95
19439-1,000.91
194310-958.81
194311-975.78
194312-1,011.55
19441-1,009.09
19442-1,041.79
19443-1,028.15
19444-1,050.80
19445-1,104.84
19446-1,138.19
19447-1,126.18
19448-1,112.38
19449-1,144.46
194410-1,141.21
194411-1,170.88
194412-1,210.51
19451-1,255.70
19452-1,259.65
19453-1,296.20
19454-1,350.13
19455-1,379.66
19456-1,356.27
19457-1,365.86
19458-1,463.92
19459-1,530.00
194510-1,585.17
194511-1,617.27
194512-1,686.79
19461-1,696.67
19462-1,651.24
19463-1,763.01
19464-1,772.15
19465-1,766.15
19466-1,721.15
19467-1,693.21
19468-1,449.01
19469-1,421.88
194610-1,421.69
194611-1,469.95
194612-1,483.47
19471-1,546.81
19472-1,490.00
19473-1,440.86
19474-1,421.23
19475-1,476.95
19476-1,575.81
19477-1,551.25
19478-1,517.63
19479-1,563.57
194710-1,552.16
194711-1,534.74
194712-1,521.46
19481-1,453.78
19482-1,481.67
19483-1,602.99
19484-1,688.43
19485-1,765.88
19486-1,731.32
19487-1,688.24
19488-1,676.79
19489-1,730.26
194810-1,642.00
194811-1,639.40
194812-1,666.12
19491-1,610.67
19492-1,634.70
19493-1,641.46
19494-1,638.46
19495-1,557.96
19496-1,655.54
19497-1,724.59
19498-1,756.86
19499-1,812.05
194910-1,847.34
194911-1,907.23
194912-1,957.39
19501-2,006.77
19502-2,034.36
19503-2,103.25
19504-2,185.58
19505-2,232.89
19506-2,082.76
19507-2,221.00
19508-2,312.26
19509-2,421.43
195010-2,430.53
195011-2,435.27
195012-2,630.40
19511-2,743.73
19512-2,713.21
19513-2,765.48
19514-2,782.86
19515-2,750.99
19516-2,816.10
19517-2,955.93
19518-3,048.62
19519-3,049.48
195110-2,980.77
195111-3,088.47
195112-3,206.87
19521-3,164.16
19522-3,187.88
19523-3,194.35
19524-3,209.04
19525-3,313.17
19526-3,424.72
19527-3,454.87
19528-3,416.57
19529-3,361.53
195210-3,484.82
195211-3,641.95
195212-3,677.96
19531-3,649.51
19532-3,684.44
19533-3,519.64
19534-3,554.93
19535-3,444.46
19536-3,510.37
19537-3,541.93
19538-3,396.47
19539-3,515.91
195310-3,611.13
195311-3,677.45
195312-3,788.66
19541-3,890.05
19542-3,990.51
19543-4,168.11
19544-4,352.44
19545-4,405.68
19546-4,602.05
19547-4,712.24
19548-4,841.34
19549-4,972.58
195410-5,186.51
195411-5,443.41
195412-5,561.45
19551-5,767.49
19552-5,742.32
19553-5,961.00
19554-5,956.31
19555-6,322.33
19556-6,805.61
19557-6,785.24
19558-7,112.05
19559-6,776.02
195510-7,254.82
195511-7,344.57
195512-7,169.20
19561-7,237.27
19562-7,758.79
19563-7,873.84
19564-7,650.34
19565-7,630.29
19566-8,068.95
19567-8,045.98
19568-7,797.45
19569-7,723.09
195610-7,668.07
195611-7,806.78
195612-7,661.37
19571-7,355.24
19572-7,474.43
19573-7,672.06
19574-7,991.23
19575-8,147.39
19576-8,336.59
19577-7,902.66
19578-7,607.14
19579-7,158.58
195710-7,029.69
195711-7,052.05
195712-7,216.27
19581-7,266.92
19582-7,442.70
19583-7,509.42
19584-7,776.60
19585-7,989.30
19586-8,234.63
19587-8,568.49
19588-8,820.72
19589-9,205.22
195810-9,511.41
195811-9,717.09
195812-10,130.52
19591-10,002.36
19592-10,283.05
19593-10,482.17
19594-10,667.23
19595-10,602.56
19596-11,050.79
19597-11,015.59
19598-10,607.66
19599-10,626.40
195910-10,697.51
195911-11,067.97
195912-10,903.53
19601-10,509.99
19602-10,396.68
19603-10,561.39
19604-10,495.43
19605-10,914.00
19606-10,674.31
19607-10,833.45
19608-10,538.70
19609-10,362.29
196010-10,729.20
196011-11,017.89
196012-11,615.82
19611-12,123.91
19612-12,535.76
19613-12,901.68
19614-13,064.68
19615-12,923.55
19616-12,919.94
19617-13,415.94
19618-13,343.26
19619-13,522.47
196110-14,167.77
196111-14,332.54
196112-13,832.74
19621-14,096.88
19622-14,144.95
19623-13,728.39
19624-12,741.99
19625-11,287.78
19626-11,594.51
19627-11,945.02
19628-11,874.14
19629-11,534.98
196210-12,365.60
196211-12,937.35
196212-13,473.83
19631-13,688.81
19632-13,673.98
19633-14,354.70
19634-14,680.49
19635-14,712.29
19636-14,532.52
19637-14,973.02
19638-15,406.29
19639-15,483.30
196310-15,435.83
196311-15,805.27
196312-16,331.61
19641-16,573.31
19642-16,916.54
19643-17,202.96
19644-17,412.90
19645-17,351.84
19646-18,039.15
19647-17,818.05
19648-18,168.25
19649-18,526.20
196410-18,699.78
196411-18,421.10
196412-18,940.72
19651-19,125.40
19652-19,189.58
19653-19,488.48
19654-19,826.14
19655-18,932.51
19656-18,951.99
19657-19,353.50
19658-20,049.47
19659-20,550.07
196510-20,771.19
196511-20,727.23
196512-21,137.73
19661-21,046.75
19662-20,233.85
19663-20,905.81
19664-19,858.93
19665-19,747.82
19666-19,751.45
19667-18,611.90
19668-18,011.69
19669-17,910.04
196610-18,862.14
196611-18,997.16
196612-19,781.80
19671-20,519.66
19672-21,060.09
19673-21,479.71
19674-21,921.69
19675-21,704.27
19676-22,136.71
19677-22,546.60
19678-22,919.50
19679-22,941.83
196710-22,280.71
196711-22,974.02
196712-22,970.01
19681-21,992.18
19682-21,649.27
19683-23,307.98
19684-23,904.12
19685-24,607.07
19686-24,619.11
19687-24,143.00
19688-24,989.86
19689-25,668.87
196810-26,127.26
196811-26,463.07
196812-25,408.49
19691-25,347.87
19692-24,862.76
19693-25,428.21
19694-26,321.62
19695-25,013.09
19696-23,961.21
19697-23,893.25
19698-24,043.43
19699-24,367.15
196910-24,610.21
196911-23,372.93
196912-23,235.26
19701-22,492.64
19702-22,945.25
19703-22,314.78
19704-19,815.75
19705-19,762.27
19706-19,865.53
19707-20,512.31
19708-21,808.96
19709-22,351.89
197010-22,398.11
197011-24,001.44
197012-24,988.06
19711-26,025.34
19712-26,762.33
19713-27,745.54
19714-27,438.16
19715-27,000.28
19716-26,875.28
19717-26,467.55
19718-27,125.64
19719-26,620.11
197110-25,456.40
197111-27,280.00
197112-28,486.47
19721-29,080.97
19722-29,842.78
19723-30,218.47
19724-29,984.01
19725-30,138.75
19726-29,986.90
19727-31,121.51
19728-30,744.79
19729-30,873.13
197210-32,495.27
197211-33,246.40
197212-33,575.33
19731-32,458.91
19732-32,022.22
19733-31,499.20
19734-30,689.75
19735-30,079.09
19736-30,443.12
19737-29,945.24
19738-30,542.74
19739-31,836.32
197310-29,654.62
197311-27,636.54
197312-28,106.48
19741-27,411.45
19742-28,665.42
19743-27,284.71
19744-26,546.47
19745-26,667.85
19746-23,641.89
19747-22,751.83
19748-20,473.56
19749-20,960.20
197410-21,744.83
197411-20,420.17
197412-22,183.00
19751-24,580.44
19752-25,802.98
19753-26,186.68
19754-27,944.49
19755-28,753.38
19756-28,877.59
19757-26,857.25
19758-26,628.24
19759-27,952.00
197510-28,522.69
197511-28,186.23
197512-30,876.68
19761-32,166.75
19762-32,424.86
19763-32,780.06
19764-32,654.42
19765-32,948.50
19766-33,826.70
19767-33,637.06
19768-34,457.09
19769-33,386.09
197610-33,263.68
197611-34,523.22
197612-34,337.74
19771-33,524.41
19772-33,506.25
19773-33,106.30
19774-33,127.65
19775-33,425.72
19776-33,854.39
19777-33,150.68
19778-32,761.05
19779-32,041.01
197710-32,355.38
197711-32,329.45
197712-31,233.36
19781-30,929.78
19782-31,011.95
19783-32,509.82
19784-34,299.27
19785-34,530.29
19786-34,508.78
19787-37,037.64
19788-37,185.67
19789-36,154.33
197810-34,188.38
197811-34,845.76
197812-36,304.17
19791-35,920.45
19792-36,761.40
19793-37,655.04
19794-36,942.22
19795-37,835.35
19796-38,372.93
19797-40,297.08
19798-40,917.83
19799-39,546.06
197910-39,418.55
197911-41,154.54
197912-42,517.77
19801-44,386.79
19802-40,490.59
19803-40,020.07
19804-42,035.54
19805-44,920.30
19806-47,152.60
19807-48,805.15
19808-50,189.17
19809-51,857.84
198010-54,250.92
198011-53,575.62
198012-53,580.97
19811-51,935.94
19812-54,087.80
19813-54,787.59
19814-53,901.52
19815-54,363.78
19816-53,267.67
19817-53,695.17
19818-49,237.03
19819-50,087.48
198110-51,612.01
198111-52,220.70
198112-49,711.96
19821-48,760.52
19822-47,422.27
19823-50,015.94
19824-50,300.86
19825-47,649.69
19826-47,765.88
19827-48,145.13
19828-53,968.95
19829-58,762.15
198210-61,406.39
198211-62,238.76
198212-64,682.10
19831-66,059.84
19832-68,613.45
19833-71,493.43
19834-74,656.30
19835-75,965.41
19836-76,503.34
19837-74,661.76
19838-77,135.93
19839-77,635.72
198310-76,749.56
198311-76,651.23
198312-77,859.20
19841-73,878.90
19842-74,205.71
19843-74,582.08
19844-74,393.70
19845-73,018.68
19846-72,355.35
19847-79,016.78
19848-80,128.53
19849-79,798.07
198410-80,824.20
198411-80,252.32
198412-84,022.23
19851-88,884.90
19852-88,459.75
19853-89,366.20
19854-91,810.94
19855-94,116.28
19856-96,231.28
19857-94,455.51
19858-92,675.03
19859-94,061.05
198510-100,100.25
198511-105,400.07
198512-106,192.40
19861-112,242.44
19862-119,182.13
19863-122,449.42
19864-123,051.66
19865-126,907.17
19866-124,617.87
19867-127,460.22
19868-124,329.50
19869-124,217.76
198610-128,606.31
198611-130,804.12
198612-139,533.16
19871-148,549.62
19872-155,050.76
19873-153,722.89
19874-153,988.57
19875-160,915.66
19876-165,939.61
19877-176,649.37
19878-171,296.14
19879-150,990.89
198710-132,413.86
198711-130,646.54
198712-136,194.50
19881-140,727.82
19882-145,276.22
19883-143,989.04
19884-140,838.18
19885-149,285.93
19886-148,827.74
19887-146,270.16
19888-149,089.03
19889-154,756.83
198810-151,630.36
198811-155,157.21
198812-160,607.35
19891-165,907.15
19892-165,638.95
19893-171,543.65
19894-178,603.19
19895-184,662.52
19896-189,833.39
19897-198,738.01
19898-199,643.33
19899-200,214.82
198910-196,583.83
198911-201,963.75
198912-197,497.87
19901-192,506.74
19902-197,718.22
19903-198,105.72
19904-205,734.62
19905-212,256.32
19906-212,616.57
19907-195,902.30
19908-187,398.06
19909-183,058.35
199010-188,520.48
199011-197,167.17
199012-195,816.23
19911-218,544.18
19912-225,198.02
19913-230,284.86
19914-229,872.93
19915-230,670.61
19916-232,470.97
19917-238,698.71
19918-237,975.21
19919-238,407.48
199110-238,445.14
199111-240,674.94
199112-258,383.86
19921-256,831.37
19922-254,231.27
19923-254,903.21
19924-260,175.50
19925-256,717.45
19926-261,626.23
19927-264,090.01
19928-265,088.77
19929-261,955.27
199210-269,177.13
199211-277,982.45
199212-278,379.67
19931-283,179.62
19932-289,268.41
19933-285,387.17
19934-287,455.44
19935-289,942.45
19936-290,119.33
19937-295,232.58
19938-299,232.90
19939-302,949.10
199310-302,971.95
199311-305,659.86
199312-310,965.75
19941-310,730.34
19942-306,306.11
19943-296,055.95
19944-299,188.94
19945-302,504.23
19946-300,934.61
19947-310,209.65
19948-312,745.50
19949-311,356.89
199410-310,205.23
199411-307,023.44
199412-314,549.12
19951-326,562.05
19952-334,916.06
19953-345,685.46
19954-357,258.18
19955-368,613.35
19956-381,689.84
19957-383,648.38
19958-397,911.14
19959-401,542.35
199510-411,012.26
199511-424,942.04
199512-425,632.91
19961-450,763.95
19962-449,859.28
19963-450,745.69
19964-461,359.96
19965-467,258.88
19966-451,014.33
19967-464,886.41
19968-474,294.44
19969-493,832.99
199610-518,781.84
199611-524,998.02
199612-542,100.05
19971-565,741.92
19972-562,213.47
19973-543,068.71
19974-593,127.87
19975-624,782.07
19976-660,619.09
19977-662,916.66
19978-670,818.68
19979-681,856.16
199710-674,000.88
199711-691,758.22
199712-693,398.30
19981-737,790.76
19982-776,988.64
19983-803,450.35
19984-801,667.84
19985-802,601.43
19986-838,458.99
19987-780,009.95
19988-741,801.55
19989-751,377.15
199810-833,836.16
199811-868,057.68
199812-911,874.51
19991-911,266.20
19992-937,907.15
19993-977,768.42
19994-976,802.07
19995-970,826.32
19996-1,014,730.84
19997-976,430.99
19998-970,591.77
19999-958,241.27
199910-1,026,333.41
199911-1,055,160.35
199912-1,053,905.42
20001-1,027,788.83
20002-1,068,293.51
20003-1,083,513.12
20004-1,052,754.41
20005-1,086,058.09
20006-1,095,293.30
20007-1,105,585.90
20008-1,093,649.43
20009-1,036,624.04
200010-1,028,615.45
200011-994,464.66
200012-998,989.55
20011-977,648.56
20012-888,879.02
20013-892,867.36
20014-954,290.68
20015-931,495.99
20016-906,716.08
20017-888,166.13
20018-788,271.20
20019-813,370.00
200110-854,470.78
200111-866,997.74
200112-864,416.78
20021-835,434.88
20022-876,749.40
20023-845,936.64
20024-822,078.08
20025-773,403.18
20026-690,196.61
20027-698,056.50
20028-664,844.86
20029-655,756.14
200210-699,203.77
200211-691,966.58
200212-690,426.84
20031-646,137.09
20032-654,587.90
20033-689,188.49
20034-725,799.65
20035-767,200.60
20036-771,772.35
20037-770,488.71
20038-794,845.25
20039-810,963.35
200310-820,780.77
200311-845,927.93
200312-887,674.15
20041-897,320.17
20042-883,275.34
20043-891,826.66
20044-868,957.96
20045-893,789.97
20046-873,779.98
20047-861,655.67
20048-885,632.32
20049-886,540.93
200410-928,863.48
200411-954,197.74
200412-941,323.50
20051-957,149.09
20052-954,702.73
20053-931,704.72
20054-944,151.09
20055-964,740.17
20056-982,180.65
20057-985,225.59
20058-987,981.18
20059-962,054.38
200510-1,000,166.57
200511-1,021,611.45
200512-1,036,596.15
20061-1,036,423.66
20062-1,051,826.34
20063-1,060,223.40
20064-1,051,883.31
20065-1,023,421.52
20066-1,030,790.57
20067-1,054,413.81
20068-1,081,102.85
20069-1,120,194.59
200610-1,142,616.89
200611-1,167,163.33
200612-1,175,249.75
20071-1,194,007.30
20072-1,164,468.86
20073-1,213,146.68
20074-1,254,293.62
20075-1,258,619.70
20076-1,265,851.98
20077-1,212,672.17
20078-1,249,958.73
20079-1,287,352.90
200710-1,225,478.73
200711-1,240,652.86
200712-1,158,333.10
20081-1,140,217.17
20082-1,110,267.81
20083-1,157,385.39
20084-1,187,044.59
20085-1,136,635.77
20086-1,067,545.69
20087-1,090,076.61
20088-1,037,234.76
20089-827,779.87
200810-756,546.53
200811-753,889.41
200812-745,630.13
20091-695,654.22
20092-656,089.33
20093-736,931.02
20094-786,009.31
20095-808,558.82
20096-818,889.31
20097-885,389.22
20098-917,708.97
20099-939,762.51
200910-959,444.20
200911-980,800.06
200912-994,109.20
20101-965,295.21
20102-1,022,663.05
20103-1,064,468.80
20104-1,001,852.52
20105-966,351.24
20106-964,814.03
20107-973,146.28
20108-1,005,952.54
20109-1,051,999.38
201010-1,078,203.79
201011-1,118,245.43
201012-1,156,961.25
20111-1,193,415.52
20112-1,180,139.24
20113-1,206,349.93
20114-1,214,302.61
20115-1,169,827.56
20116-1,206,112.52
20117-1,080,669.01
20118-1,072,139.89
20119-1,104,506.78
201110-1,124,024.77
201111-1,141,500.56
201112-1,196,093.48
20121-1,245,882.17
20122-1,281,811.39
20123-1,281,321.60
20124-1,241,716.57
20125-1,227,406.89
20126-1,263,260.51
20127-1,306,055.99
20128-1,345,514.11
20129-1,342,592.54
201210-1,304,496.55
201211-1,332,876.33
201212-1,389,773.65
20131-1,422,197.37
20132-1,460,916.04
20133-1,482,154.71
20134-1,549,952.46
20135-1,532,627.48
20136-1,582,506.49
20137-1,586,502.77
20138-1,605,421.30
20139-1,639,416.90
201310-1,702,698.29
201311-1,728,607.60
201312-1,745,337.19
20141-1,743,067.63
20142-1,790,518.62
20143-1,794,130.53
20144-1,821,617.23
20145-1,879,841.91
20146-1,907,961.00
20147-1,899,814.94
20148-1,933,594.29
20149-1,882,420.10
201410-1,989,824.45
201411-2,002,437.70
201412-1,980,209.73
20151-2,036,198.14
20152-2,037,325.45
20153-2,055,221.51
20154-2,075,340.16
20155-2,066,302.05
20156-2,064,656.65
20157-2,014,601.17
20158-1,923,801.17
20159-2,006,853.96
201510-2,065,704.35
201511-2,042,920.25
201512-1,911,772.50
20161-1,901,259.49
20162-2,022,231.45
20163-2,079,486.09
20164-2,073,156.85
20165-2,095,266.87
20166-2,164,357.02
20167-2,190,313.22
20168-2,180,704.94
20169-2,169,670.99
201610-2,195,732.22
201611-2,282,375.02
201612-2,315,187.24
20171-2,374,836.77
20172-2,416,378.77
20173-2,412,657.45
20174-2,453,488.62
20175-2,497,073.07
20176-2,521,741.26
20177-2,527,990.27
20178-2,569,784.60
20179-2,640,063.05
201710-2,682,028.67
201711-2,759,364.60
201712-2,893,522.10
20181-2,809,995.19
20182-2,811,809.83
20183-2,765,022.11
20184-2,819,261.36
20185-2,878,831.50
20186-2,924,338.40
20187-2,996,008.23
20188-3,046,333.61
20189-2,929,080.65
201810-2,868,269.77
201811-2,708,721.91
201812-2,755,735.47
20191-2,916,364.61
20192-2,973,176.03
20193-3,083,873.91
20194-3,036,635.48
20195-3,079,292.59
20196-3,197,147.71
20197-3,096,935.86
20198-3,192,483.37
20199-3,192,796.33
201910-3,334,355.09
201911-3,416,690.98
201912-3,531,027.04
20201-3,535,337.61
20202-2,866,532.73
20203-2,990,327.22
20204-3,166,378.71
20205-3,372,455.25
20206-3,489,696.46
20207-3,695,361.89
20208-3,672,191.87
20209-3,735,573.95
202010-3,883,282.90
202011-4,048,713.88
202012-4,161,887.57
20211-4,265,582.19
20212-4,300,617.87
20213-4,559,578.98
20214-4,594,242.34
20215-4,677,417.55
20216-4,820,930.14
20217-4,926,275.27
20218-4,922,112.62
20219-4,944,369.24
202110-5,178,966.90
202111-5,192,712.07
202112-5,086,160.06
20221-4,938,530.72
20222-4,894,450.20
20223-4,900,240.42
20224-4,514,457.71
20225-4,362,348.26
20226-4,382,619.45
20227-4,665,184.19
20228-4,325,679.88
20229-4,191,965.54
202210-4,413,514.87
202211-4,413,993.18
202212-4,474,749.87
20231-4,615,568.98
20232-4,496,236.81
20233-4,675,916.38
20234-4,710,410.39
20235-4,943,207.67
20236-5,134,808.47
20237-5,083,581.74
20238-5,035,105.86
20239-4,882,173.96
202310-5,106,838.12
202311-5,371,129.60
202312-5,527,528.13
20241-5,759,644.04
20242-5,948,682.48
20243-5,888,652.64
20244-6,036,853.13
20245-6,359,439.62
Click to show 1194 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.

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S&P 500 from 1924 to 2024
Start Value
Average monthly close
$8.83
End Value
Average monthly close
$5,509.01
Change in price+62,289.69%
+6.65% / yr
Change incl. dividends+2,527,499.85%
+10.62% / yr
Change incl. dividends, inflation-adjusted+136,898.15%
+7.46% / yr
Final amount, nominal
($300 base)
$7,582,799.55
Final amount, inflation-adjusted
($300 base)
$410,994.45