S&P 500: $100 in 1946 → $209,334.08 in 2019

$

Stock market returns between 1946 and 2019

If you invested $100 in the S&P 500 at the beginning of 1946, you would have about $209,334.08 at the end of 2019, assuming you reinvested all dividends. This is a return on investment of 209,234.08%, or 10.89% per year.

This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 15,866.73% cumulatively, or 7.10% per year.

If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $225,333.17.

The graph below shows the performance of $100 over time if invested in an S&P 500 index fund. The returns assume that all dividends are automatically reinvested.

This chart shows the rate of gains and loss by month, including dividends:

Adjusting stock market return for inflation

The nominal return on investment of $100 is $209,234.08, or 209,234.08%. This means by 2019 you would have $209,334.08 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 1946 was 19.500 and the CPI in 2019 was 255.658.

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

Adjusted for inflation, the $209,334.08 nominal end value of the original $100 investment would have a real return of roughly $15,866.73 in 1946 dollars. This means the inflation-adjusted return is 15,866.73% as opposed to the original 209,234.08%.

For more information on inflation, see our U.S. inflation calculator for 1946.

Full monthly data

The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 888-month period between 1946 and 2019.

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

YearMonthReturn (%)Amount ($)CPI
194610.59%100.5918.20
19462-2.68%97.8918.10
194636.77%104.5218.30
194640.52%105.0618.40
19465-0.34%104.7018.50
19466-2.55%102.0418.70
19467-1.62%100.3819.80
19468-14.42%85.9020.20
19469-1.87%84.2920.40
194610-0.01%84.2820.80
1946113.39%87.1421.30
1946120.92%87.9521.50
194714.27%91.7021.50
19472-3.67%88.3321.50
19473-3.30%85.4221.90
19474-1.36%84.2621.90
194753.92%87.5621.90
194766.69%93.4222.00
19477-1.56%91.9622.20
19478-2.17%89.9722.50
194793.03%92.6923.00
194710-0.73%92.0223.00
194711-1.12%90.9923.10
194712-0.86%90.2023.40
19481-4.45%86.1923.70
194821.92%87.8423.50
194838.19%95.0323.40
194845.33%100.1023.80
194854.59%104.6923.90
19486-1.96%102.6424.10
19487-2.49%100.0924.40
19488-0.68%99.4124.50
194893.19%102.5824.50
194810-5.10%97.3424.40
194811-0.16%97.1924.20
1948121.63%98.7724.10
19491-3.33%95.4924.00
194921.49%96.9123.80
194930.41%97.3123.80
19494-0.18%97.1323.90
19495-4.91%92.3623.80
194966.26%98.1523.90
194974.17%102.2423.70
194981.87%104.1523.80
194993.14%107.4323.90
1949101.95%109.5223.70
1949113.24%113.0723.80
1949122.63%116.0423.60
195012.52%118.9723.50
195021.38%120.6123.50
195033.39%124.6923.60
195043.91%129.5723.60
195052.16%132.3823.70
19506-6.72%123.4723.80
195076.64%131.6724.10
195084.11%137.0824.30
195094.72%143.5524.40
1950100.38%144.0924.60
1950110.19%144.3724.70
1950128.01%155.9425.00
195114.31%162.6625.40
19512-1.11%160.8525.70
195131.93%163.9525.80
195140.63%164.9825.80
19515-1.15%163.0925.90
195162.37%166.9525.90
195174.97%175.2425.90
195183.14%180.7325.90
195190.03%180.7926.10
195110-2.25%176.7126.20
1951113.61%183.1026.40
1951123.83%190.1226.50
19521-1.33%187.5826.50
195220.75%188.9926.30
195230.20%189.3726.30
195240.46%190.2526.40
195253.24%196.4226.40
195263.37%203.0326.50
195270.88%204.8226.70
19528-1.11%202.5526.70
19529-1.61%199.2926.70
1952103.67%206.5926.70
1952114.51%215.9126.70
1952120.99%218.0426.70
19531-0.77%216.3626.60
195320.96%218.4326.50
19533-4.47%208.6626.60
195341.00%210.7526.60
19535-3.11%204.2026.70
195361.91%208.1126.80
195370.90%209.9826.80
19538-4.11%201.3626.90
195393.52%208.4426.90
1953102.71%214.0827.00
1953111.84%218.0126.90
1953123.02%224.6126.90
195412.68%230.6226.90
195422.58%236.5726.90
195434.45%247.1026.90
195444.42%258.0326.80
195451.22%261.1926.90
195464.46%272.8326.90
195472.39%279.3626.90
195482.74%287.0226.90
195492.71%294.8026.80
1954104.30%307.4826.80
1954114.95%322.7126.80
1954122.17%329.7126.70
195513.70%341.9226.70
19552-0.44%340.4326.70
195533.81%353.3926.70
19554-0.08%353.1126.70
195556.15%374.8126.70
195567.64%403.4726.70
19557-0.30%402.2626.80
195584.82%421.6326.80
19559-4.72%401.7126.90
1955107.07%430.1026.90
1955111.24%435.4226.90
195512-2.39%425.0226.80
195610.95%429.0626.80
195627.21%459.9726.80
195631.48%466.7926.80
19564-2.84%453.5426.90
19565-0.26%452.3627.00
195665.75%478.3627.20
19567-0.28%477.0027.40
19568-3.09%462.2727.30
19569-0.95%457.8627.40
195610-0.71%454.6027.50
1956111.81%462.8227.50
195612-1.86%454.2027.60
19571-4.00%436.0527.60
195721.62%443.1227.70
195732.64%454.8327.80
195744.16%473.7527.90
195751.95%483.0128.00
195762.32%494.2328.10
19577-5.21%468.5028.30
19578-3.74%450.9828.30
19579-5.90%424.3928.30
195710-1.80%416.7528.30
1957110.32%418.0828.40
1957122.33%427.8128.40
195810.70%430.8128.60
195822.42%441.2328.60
195830.90%445.1928.80
195843.56%461.0328.90
195852.74%473.6428.90
195863.07%488.1828.90
195874.05%507.9829.00
195882.94%522.9328.90
195894.36%545.7228.90
1958103.33%563.8828.90
1958112.16%576.0729.00
1958124.25%600.5828.90
19591-1.27%592.9829.00
195922.81%609.6228.90
195931.94%621.4328.90
195941.77%632.4029.00
19595-0.61%628.5629.00
195964.23%655.1429.10
19597-0.32%653.0529.20
19598-3.70%628.8729.20
195990.18%629.9829.30
1959100.67%634.1929.40
1959113.46%656.1629.40
195912-1.49%646.4129.40
19601-3.61%623.0829.30
19602-1.08%616.3629.40
196031.58%626.1229.40
19604-0.62%622.2129.50
196053.99%647.0329.50
19606-2.20%632.8229.60
196071.49%642.2529.60
19608-2.72%624.7829.60
19609-1.67%614.3229.60
1960103.54%636.0729.80
1960112.69%653.1929.80
1960125.43%688.6329.80
196114.37%718.7629.80
196123.40%743.1729.80
196132.92%764.8729.80
196141.26%774.5329.80
19615-1.08%766.1629.80
19616-0.03%765.9529.80
196173.84%795.3530.00
19618-0.54%791.0429.90
196191.34%801.6730.00
1961104.77%839.9230.00
1961111.16%849.6930.00
196112-3.49%820.0630.00
196211.91%835.7230.00
196220.34%838.5730.10
19623-2.94%813.8830.10
19624-7.19%755.4030.20
19625-11.41%669.1930.20
196262.72%687.3730.20
196273.02%708.1530.30
19628-0.59%703.9530.30
19629-2.86%683.8430.40
1962107.20%733.0830.40
1962114.62%766.9830.40
1962124.15%798.7930.40
196311.60%811.5330.40
19632-0.11%810.6530.40
196334.98%851.0130.50
196342.27%870.3230.50
196350.22%872.2130.50
19636-1.22%861.5530.60
196373.03%887.6630.70
196382.89%913.3530.70
196390.50%917.9130.70
196310-0.31%915.1030.80
1963112.39%937.0030.80
1963123.33%968.2130.90
196411.48%982.5330.90
196422.07%1,002.8830.90
196431.69%1,019.8630.90
196441.22%1,032.3130.90
19645-0.35%1,028.6930.90
196463.96%1,069.4431.00
19647-1.23%1,056.3331.10
196481.97%1,077.0931.00
196491.97%1,098.3131.10
1964100.94%1,108.6031.10
196411-1.49%1,092.0831.20
1964122.82%1,122.8931.20
196510.98%1,133.8331.20
196520.34%1,137.6431.20
196531.56%1,155.3631.30
196541.73%1,175.3831.40
19655-4.51%1,122.4031.40
196560.10%1,123.5531.60
196572.12%1,147.3631.60
196583.60%1,188.6231.60
196592.50%1,218.2931.60
1965101.08%1,231.4031.70
196511-0.21%1,228.8031.70
1965121.98%1,253.1331.80
19661-0.43%1,247.7431.80
19662-3.86%1,199.5532.00
196633.32%1,239.3832.10
19664-5.01%1,177.3232.30
19665-0.56%1,170.7332.30
196660.02%1,170.9532.40
19667-5.77%1,103.3932.50
19668-3.22%1,067.8132.70
19669-0.56%1,061.7832.70
1966105.32%1,118.2332.90
1966110.72%1,126.2332.90
1966124.13%1,172.7532.90
196713.73%1,216.4932.90
196722.63%1,248.5332.90
196731.99%1,273.4133.00
196742.06%1,299.6133.10
19675-0.99%1,286.7233.20
196761.99%1,312.3633.30
196771.85%1,336.6633.40
196781.65%1,358.7633.50
196790.10%1,360.0933.60
196710-2.88%1,320.8933.70
1967113.11%1,362.0033.80
196712-0.02%1,361.7633.90
19681-4.26%1,303.7934.10
19682-1.56%1,283.4634.20
196837.66%1,381.7934.30
196842.56%1,417.1434.40
196852.94%1,458.8134.50
196860.05%1,459.5234.70
19687-1.93%1,431.3034.90
196883.51%1,481.5035.00
196892.72%1,521.7635.10
1968101.79%1,548.9335.30
1968111.29%1,568.8435.40
196812-3.99%1,506.3235.50
19691-0.24%1,502.7335.60
19692-1.91%1,473.9735.80
196932.27%1,507.4936.10
196943.51%1,560.4636.30
19695-4.97%1,482.8836.40
19696-4.21%1,420.5236.60
19697-0.28%1,416.4936.80
196980.63%1,425.4037.00
196991.35%1,444.5937.10
1969101.00%1,459.0037.30
196911-5.03%1,385.6537.50
196912-0.59%1,377.4837.70
19701-3.20%1,333.4637.80
197022.01%1,360.2938.00
19703-2.75%1,322.9138.20
19704-11.20%1,174.7638.50
19705-0.27%1,171.5938.60
197060.52%1,177.7138.80
197073.26%1,216.0639.00
197086.32%1,292.9339.00
197092.49%1,325.1139.20
1970100.21%1,327.8539.40
1970117.16%1,422.9139.60
1970124.11%1,481.4039.80
197114.15%1,542.8939.80
197122.83%1,586.5839.90
197133.67%1,644.8740.00
19714-1.11%1,626.6540.10
19715-1.60%1,600.6940.30
19716-0.46%1,593.2840.60
19717-1.52%1,569.1140.70
197182.49%1,608.1240.80
19719-1.86%1,578.1540.80
197110-4.37%1,509.1640.90
1971117.16%1,617.2740.90
1971124.42%1,688.8041.10
197212.09%1,724.0441.10
197222.62%1,769.2041.30
197231.26%1,791.4841.40
19724-0.78%1,777.5841.50
197250.52%1,786.7541.60
19726-0.50%1,777.7541.70
197273.78%1,845.0141.90
19728-1.21%1,822.6842.00
197290.42%1,830.2942.10
1972105.25%1,926.4642.30
1972112.31%1,970.9942.40
1972120.99%1,990.4942.50
19731-3.33%1,924.3042.60
19732-1.35%1,898.4142.90
19733-1.63%1,867.4043.30
19734-2.57%1,819.4243.60
19735-1.99%1,783.2143.90
197361.21%1,804.8044.20
19737-1.64%1,775.2844.30
197382.00%1,810.7045.10
197394.24%1,887.3945.20
197310-6.85%1,758.0545.60
197311-6.81%1,638.4145.90
1973121.70%1,666.2746.20
19741-2.47%1,625.0746.60
197424.57%1,699.4147.20
19743-4.82%1,617.5547.80
19744-2.71%1,573.7948.00
197450.46%1,580.9848.60
19746-11.35%1,401.5949.00
19747-3.76%1,348.8249.40
19748-10.01%1,213.7650.00
197492.38%1,242.6150.60
1974103.74%1,289.1251.10
197411-6.09%1,210.5951.50
1974128.63%1,315.1051.90
1975110.81%1,457.2352.10
197524.97%1,529.7152.50
197531.49%1,552.4652.70
197546.71%1,656.6752.90
197552.89%1,704.6253.20
197560.43%1,711.9853.60
19757-7.00%1,592.2154.20
19758-0.85%1,578.6354.30
197594.97%1,657.1154.60
1975102.04%1,690.9454.90
197511-1.18%1,671.0055.30
1975129.55%1,830.5055.50
197614.18%1,906.9855.60
197620.80%1,922.2855.80
197631.10%1,943.3455.90
19764-0.38%1,935.8956.10
197650.90%1,953.3356.50
197662.67%2,005.3956.80
19767-0.56%1,994.1557.10
197682.44%2,042.7657.40
19769-3.11%1,979.2757.60
197610-0.37%1,972.0157.90
1976113.79%2,046.6858.00
197612-0.54%2,035.6958.20
19771-2.37%1,987.4758.50
19772-0.05%1,986.3959.10
19773-1.19%1,962.6859.50
197740.06%1,963.9560.00
197750.90%1,981.6260.30
197761.28%2,007.0360.70
19777-2.08%1,965.3161.00
19778-1.18%1,942.2161.20
19779-2.20%1,899.5361.40
1977100.98%1,918.1661.60
197711-0.08%1,916.6361.90
197712-3.39%1,851.6462.10
19781-0.97%1,833.6562.50
197820.27%1,838.5262.90
197834.83%1,927.3263.40
197845.50%2,033.4063.90
197850.67%2,047.1064.50
19786-0.06%2,045.8365.20
197877.33%2,195.7565.70
197880.40%2,204.5266.00
19789-2.77%2,143.3866.50
197810-5.44%2,026.8367.10
1978111.92%2,065.8067.40
1978124.19%2,152.2667.70
19791-1.06%2,129.5168.30
197922.34%2,179.3769.10
197932.43%2,232.3569.80
19794-1.89%2,190.0970.60
197952.42%2,243.0471.50
197961.42%2,274.9172.30
197975.01%2,388.9873.10
197981.54%2,425.7873.80
19799-3.35%2,344.4674.60
197910-0.32%2,336.9075.20
1979114.40%2,439.8175.90
1979123.31%2,520.6376.70
198014.40%2,631.4377.80
19802-8.78%2,400.4578.90
19803-1.16%2,372.5680.10
198045.04%2,492.0481.00
198056.86%2,663.0681.80
198064.97%2,795.4082.70
198073.50%2,893.3782.70
198082.84%2,975.4283.30
198093.32%3,074.3584.00
1980104.61%3,216.2284.80
198011-1.24%3,176.1985.50
1980120.01%3,176.5086.30
19811-3.07%3,078.9887.00
198124.14%3,206.5587.90
198131.29%3,248.0488.50
19814-1.62%3,195.5189.10
198150.86%3,222.9189.80
19816-2.02%3,157.9390.60
198170.80%3,183.2791.60
19818-8.30%2,918.9892.30
198191.73%2,969.4093.20
1981103.04%3,059.7893.40
1981111.18%3,095.8693.70
198112-4.80%2,947.1394.00
19821-1.91%2,890.7394.30
19822-2.74%2,811.3994.60
198235.47%2,965.1594.50
198240.57%2,982.0594.90
19825-5.27%2,824.8795.80
198260.24%2,831.7697.00
198270.79%2,854.2597.50
1982812.10%3,199.5197.70
198298.88%3,483.6797.90
1982104.50%3,640.4398.20
1982111.36%3,689.7798.00
1982123.93%3,834.6397.60
198312.13%3,916.3097.80
198323.87%4,067.6997.90
198334.20%4,238.4397.90
198344.42%4,425.9498.60
198351.75%4,503.5599.20
198360.71%4,535.4499.50
19837-2.41%4,426.2699.90
198383.31%4,572.94100.20
198390.65%4,602.57100.70
198310-1.14%4,550.04101.00
198311-0.13%4,544.21101.20
1983121.58%4,615.82101.30
19841-5.11%4,379.85101.90
198420.44%4,399.23102.40
198430.51%4,421.54102.60
19844-0.25%4,410.37103.10
19845-1.85%4,328.85103.40
19846-0.91%4,289.53103.70
198479.21%4,684.45104.10
198481.41%4,750.35104.50
19849-0.41%4,730.76105.00
1984101.29%4,791.60105.30
198411-0.71%4,757.69105.30
1984124.70%4,981.19105.30
198515.79%5,269.47105.50
19852-0.48%5,244.26106.00
198531.02%5,298.00106.40
198542.74%5,442.94106.90
198552.51%5,579.61107.30
198562.25%5,704.99107.60
19857-1.85%5,599.72107.80
19858-1.88%5,494.16108.00
198591.50%5,576.33108.30
1985106.42%5,934.36108.70
1985115.29%6,248.56109.00
1985120.75%6,295.53109.30
198615.70%6,654.20109.60
198626.18%7,065.62109.30
198632.74%7,259.32108.80
198640.49%7,295.02108.60
198653.13%7,523.59108.90
19866-1.80%7,387.87109.50
198672.28%7,556.38109.50
19868-2.46%7,370.77109.70
19869-0.09%7,364.15110.20
1986103.53%7,624.32110.30
1986111.71%7,754.62110.40
1986126.67%8,272.11110.50
198716.46%8,806.64111.20
198724.38%9,192.06111.60
19873-0.86%9,113.34112.10
198740.17%9,129.09112.70
198754.50%9,539.76113.10
198763.12%9,837.60113.50
198776.45%10,472.51113.80
19878-3.03%10,155.15114.40
19879-11.85%8,951.37115.00
198710-12.30%7,850.05115.30
198711-1.33%7,745.27115.40
1987124.25%8,074.18115.40
198813.33%8,342.94115.70
198823.23%8,612.58116.00
19883-0.89%8,536.27116.50
19884-2.19%8,349.48117.10
198856.00%8,850.30117.50
19886-0.31%8,823.13118.00
19887-1.72%8,671.51118.50
198881.93%8,838.62119.00
198893.80%9,174.63119.80
198810-2.02%8,989.28120.20
1988112.33%9,198.37120.30
1988123.51%9,521.48120.50
198913.30%9,835.67121.10
19892-0.16%9,819.77121.60
198933.56%10,169.83122.30
198944.12%10,588.35123.10
198953.39%10,947.57123.80
198962.80%11,254.12124.10
198974.69%11,782.02124.40
198980.46%11,835.69124.60
198990.29%11,869.57125.00
198910-1.81%11,654.31125.60
1989112.74%11,973.26125.90
198912-2.21%11,708.50126.10
19901-2.53%11,412.61127.40
199022.71%11,721.56128.00
199030.20%11,744.54128.70
199043.85%12,196.81128.90
199053.17%12,583.44129.20
199060.17%12,604.80129.90
19907-7.86%11,613.91130.40
19908-4.34%11,109.74131.60
19909-2.32%10,852.47132.70
1990102.98%11,176.28133.50
1990114.59%11,688.90133.80
199012-0.69%11,608.81133.80
1991111.61%12,956.22134.60
199123.04%13,350.68134.80
199132.26%13,652.25135.00
19914-0.18%13,627.83135.20
199150.35%13,675.12135.60
199160.78%13,781.85136.00
199172.68%14,151.06136.20
19918-0.30%14,108.17136.60
199190.18%14,133.79137.20
1991100.02%14,136.03137.40
1991110.94%14,268.22137.80
1991127.36%15,318.08137.90
19921-0.60%15,226.04138.10
19922-1.01%15,071.90138.60
199230.26%15,111.73139.30
199242.07%15,424.29139.50
19925-1.33%15,219.29139.70
199261.91%15,510.30140.20
199270.94%15,656.36140.50
199280.38%15,715.57140.90
19929-1.18%15,529.81141.30
1992102.76%15,957.95141.80
1992113.27%16,479.96142.00
1992120.14%16,503.51141.90
199311.72%16,788.07142.60
199322.15%17,149.04143.10
19933-1.34%16,918.95143.60
199340.72%17,041.56144.00
199350.87%17,189.00144.20
199360.06%17,199.49144.40
199371.76%17,502.63144.40
199381.35%17,739.78144.80
199391.24%17,960.09145.10
1993100.01%17,961.45145.70
1993110.89%18,120.80145.80
1993121.74%18,435.35145.80
19941-0.08%18,421.40146.20
19942-1.42%18,159.11146.70
19943-3.35%17,551.44147.20
199441.06%17,737.17147.40
199451.11%17,933.72147.50
19946-0.52%17,840.67148.00
199473.08%18,390.53148.40
199480.82%18,540.86149.00
19949-0.44%18,458.54149.40
199410-0.37%18,390.27149.50
199411-1.03%18,201.64149.70
1994122.45%18,647.79149.70
199513.82%19,359.97150.30
199522.56%19,855.23150.90
199533.22%20,493.68151.40
199543.35%21,179.76151.90
199553.18%21,852.94152.20
199563.55%22,628.17152.50
199570.51%22,744.28152.50
199583.72%23,589.84152.90
199590.91%23,805.11153.20
1995102.36%24,366.53153.70
1995113.39%25,192.35153.60
1995120.16%25,233.30153.50
199615.90%26,723.18154.40
19962-0.20%26,669.54154.90
199630.20%26,722.09155.70
199642.35%27,351.35156.30
199651.28%27,701.07156.60
19966-3.48%26,738.02156.70
199673.08%27,560.42157.00
199682.02%28,118.16157.30
199694.12%29,276.49157.80
1996105.05%30,755.56158.30
1996111.20%31,124.08158.60
1996123.26%32,137.96158.60
199714.36%33,539.55159.10
19972-0.62%33,330.37159.60
19973-3.41%32,195.39160.00
199749.22%35,163.11160.20
199755.34%37,039.70160.10
199765.74%39,164.27160.30
199770.35%39,300.48160.50
199781.19%39,768.94160.80
199791.65%40,423.29161.20
199710-1.15%39,957.60161.60
1997112.63%41,010.33161.50
1997120.24%41,107.56161.30
199816.40%43,739.33161.60
199825.31%46,063.14161.90
199833.41%47,631.90162.20
19984-0.22%47,526.23162.50
199850.12%47,581.58162.80
199864.47%49,707.36163.00
19987-6.97%46,242.26163.20
19988-4.90%43,977.11163.40
199891.29%44,544.79163.60
19981010.97%49,433.30164.00
1998114.10%51,462.10164.00
1998125.05%54,059.74163.90
19991-0.07%54,023.68164.30
199922.92%55,603.07164.50
199934.25%57,966.21165.00
19994-0.10%57,908.92166.20
19995-0.61%57,554.65166.20
199964.52%60,157.50166.20
19997-3.77%57,886.92166.70
19998-0.60%57,540.75167.10
19999-1.27%56,808.56167.90
1999107.11%60,845.35168.20
1999112.81%62,554.33168.30
199912-0.12%62,479.93168.30
20001-2.48%60,931.63168.80
200023.94%63,332.92169.80
200031.42%64,235.20171.20
20004-2.84%62,411.69171.30
200053.16%64,386.08171.50
200060.85%64,933.58172.40
200070.94%65,543.77172.80
20008-1.08%64,836.12172.80
20009-5.21%61,455.42173.70
200010-0.77%60,980.64174.00
200011-3.32%58,956.03174.10
2000120.46%59,224.29174.00
20011-2.14%57,959.10175.10
20012-9.08%52,696.47175.80
200130.45%52,932.92176.20
200146.88%56,574.35176.90
20015-2.39%55,222.99177.70
20016-2.66%53,753.93178.00
20017-2.05%52,654.21177.50
20018-11.25%46,732.02177.50
200193.18%48,219.98178.30
2001105.05%50,656.61177.70
2001111.47%51,399.26177.40
200112-0.30%51,246.25176.70
20021-3.35%49,528.08177.10
200224.95%51,977.38177.80
20023-3.51%50,150.67178.80
20024-2.82%48,736.23179.80
20025-5.92%45,850.58179.80
20026-10.76%40,917.75179.90
200271.14%41,383.72180.10
20028-4.76%39,414.79180.70
20029-1.37%38,875.97181.00
2002106.63%41,451.73181.30
200211-1.04%41,022.68181.30
200212-0.22%40,931.40180.90
20031-6.41%38,305.72181.70
200321.31%38,806.71183.10
200335.29%40,857.98184.20
200345.31%43,028.45183.80
200355.70%45,482.87183.50
200360.60%45,753.90183.70
20037-0.17%45,677.80183.90
200383.16%47,121.76184.60
200392.03%48,077.31185.20
2003101.21%48,659.32185.00
2003113.06%50,150.15184.50
2003124.93%52,625.04184.30
200411.09%53,196.90185.20
20042-1.57%52,364.26186.20
200430.97%52,871.22187.40
20044-2.56%51,515.47188.00
200452.86%52,987.62189.10
20046-2.24%51,801.34189.70
20047-1.39%51,082.56189.40
200482.78%52,504.00189.50
200490.10%52,557.86189.90
2004104.77%55,066.92190.90
2004112.73%56,568.84191.00
200412-1.35%55,805.60190.30
200511.68%56,743.81190.70
20052-0.26%56,598.78191.80
20053-2.41%55,235.36193.30
200541.34%55,973.23194.60
200552.18%57,193.84194.40
200561.81%58,227.79194.50
200570.31%58,408.30195.40
200580.28%58,571.67196.40
20059-2.62%57,034.62198.80
2005103.96%59,294.07199.20
2005112.14%60,565.41197.60
2005121.47%61,453.76196.80
20061-0.02%61,443.54198.30
200621.49%62,356.67198.70
200630.80%62,854.49199.80
20064-0.79%62,360.05201.50
20065-2.71%60,672.72202.50
200660.72%61,109.59202.90
200672.29%62,510.07203.50
200682.53%64,092.31203.90
200693.62%66,409.83202.90
2006102.00%67,739.12201.80
2006112.15%69,194.33201.50
2006120.69%69,673.73201.80
200711.60%70,785.76202.42
20072-2.47%69,034.60203.50
200734.18%71,920.42205.35
200743.39%74,359.78206.69
200750.34%74,616.25207.95
200760.57%75,045.01208.35
20077-4.20%71,892.29208.30
200783.07%74,102.79207.92
200792.99%76,319.68208.49
200710-4.81%72,651.52208.94
2007111.24%73,551.10210.18
200712-6.64%68,670.84210.04
20081-1.56%67,596.85211.08
20082-2.63%65,821.33211.69
200834.24%68,614.66213.53
200842.56%70,372.98214.82
20085-4.25%67,384.53216.63
20086-6.08%63,288.58218.82
200872.11%64,624.31219.96
20088-4.85%61,491.62219.09
20089-20.19%49,074.26218.78
200810-8.61%44,851.25216.57
200811-0.35%44,693.72212.43
200812-1.10%44,204.08210.23
20091-6.70%41,241.30211.14
20092-5.69%38,895.73212.19
2009312.32%43,688.36212.71
200946.66%46,597.93213.24
200952.87%47,934.76213.86
200961.28%48,547.19215.69
200978.12%52,489.58215.35
200983.65%54,405.63215.83
200992.40%55,713.06215.97
2009102.09%56,879.87216.18
2009112.23%58,145.94216.33
2009121.36%58,934.96215.95
20101-2.90%57,226.75216.69
201025.94%60,627.75216.74
201034.09%63,106.17217.63
20104-5.88%59,394.02218.01
20105-3.54%57,289.35218.18
20106-0.16%57,198.22217.97
201070.86%57,692.19218.01
201083.37%59,637.08218.31
201094.58%62,366.93218.44
2010102.49%63,920.44218.71
2010113.71%66,294.28218.80
2010123.46%68,589.51219.18
201113.15%70,750.67220.22
20112-1.11%69,963.60221.31
201132.22%71,517.48223.47
201140.66%71,988.95224.91
20115-3.66%69,352.28225.96
201163.10%71,503.41225.72
20117-10.40%64,066.59225.92
20118-0.79%63,560.95226.55
201193.02%65,479.79226.89
2011101.77%66,636.90226.42
2011111.55%67,672.94226.23
2011124.78%70,909.44225.67
201214.16%73,861.12226.67
201222.88%75,991.15227.66
20123-0.04%75,962.12229.39
20124-3.09%73,614.16230.09
20125-1.15%72,765.83229.82
201262.92%74,891.38229.48
201273.39%77,428.47229.10
201283.02%79,767.72230.38
20129-0.22%79,594.51231.41
201210-2.84%77,336.02231.32
2012112.18%79,018.50230.22
2012124.27%82,391.61229.60
201312.33%84,313.82230.28
201322.72%86,609.23232.17
201331.45%87,868.34232.77
201344.57%91,887.68232.53
20135-1.12%90,860.58232.95
201363.25%93,817.62233.50
201370.25%94,054.53233.60
201381.19%95,176.10233.88
201392.12%97,191.51234.15
2013103.86%100,943.09233.55
2013111.52%102,479.10233.07
2013120.97%103,470.91233.05
20141-0.13%103,336.36233.92
201422.72%106,149.45234.78
201430.20%106,363.58236.29
201441.53%107,993.11237.07
201453.20%111,444.91237.90
201461.50%113,111.93238.34
20147-0.43%112,628.99238.25
201481.78%114,631.58237.85
20149-2.65%111,597.75238.03
2014105.71%117,965.13237.43
2014110.63%118,712.90236.15
201412-1.11%117,395.13234.81
201512.83%120,714.36233.71
201520.06%120,781.19234.72
201530.88%121,842.15236.12
201540.98%123,034.86236.60
20155-0.44%122,499.05237.81
20156-0.08%122,401.50238.64
20157-2.42%119,434.00238.65
20158-4.51%114,051.00238.32
201594.32%118,974.72237.95
2015102.93%122,463.61237.84
201511-1.10%121,112.88237.34
201512-6.42%113,337.89236.53
20161-0.55%112,714.63236.92
201626.36%119,886.36237.11
201632.83%123,280.65238.13
20164-0.30%122,905.43239.26
201651.07%124,216.20240.23
201663.30%128,312.16241.02
201671.20%129,850.95240.63
20168-0.44%129,281.33240.85
20169-0.51%128,627.19241.43
2016101.20%130,172.21241.73
2016113.95%135,308.76241.35
2016121.44%137,254.00241.43
201712.58%140,790.28242.84
201721.75%143,253.06243.60
20173-0.15%143,032.45243.80
201741.69%145,453.09244.52
201751.78%148,036.96244.73
201760.99%149,499.39244.96
201770.25%149,869.86244.79
201781.65%152,347.60245.52
201792.73%156,514.00246.82
2017101.59%159,001.90246.66
2017112.88%163,586.70246.67
2017124.86%171,540.12246.52
20181-2.89%166,588.29247.87
201820.06%166,695.87248.99
20183-1.66%163,922.10249.55
201841.96%167,137.63250.55
201852.11%170,669.20251.59
201861.58%173,367.04251.99
201872.45%177,615.93252.01
201881.68%180,599.43252.15
20189-3.85%173,648.18252.44
201810-2.08%170,043.06252.89
201811-5.56%160,584.39252.04
2018121.74%163,371.55251.23
201915.83%172,894.32251.71
201921.95%176,262.34252.78
201933.72%182,824.97254.20
20194-1.53%180,024.48255.55
201951.40%182,553.37256.09
201963.83%189,540.32256.14
20197-3.13%183,599.34256.57
201983.09%189,263.80256.56
201990.01%189,282.35256.76
2019104.43%197,674.55257.35
2019112.47%202,555.76257.21
2019123.35%209,334.08256.97
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 $100.00 up-front. Instead, the capital is invested over a period of time.

Consider a strategy in which $100.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1946. This would result in a final amount of $225,333.17, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $209,334.08).

YearMonthContribution ($)Amount ($)
194614.164.17
194624.168.10
194634.1613.07
194644.1617.31
194654.1621.38
194664.1624.88
194674.1628.55
194684.1627.98
194694.1631.53
1946104.1635.66
1946114.1641.16
1946124.1645.72
194714.1651.99
194724.1654.08
194734.1656.30
194744.1659.62
194754.1666.26
194764.1675.12
194774.1678.02
194784.1680.38
194794.1687.09
1947104.1690.56
1947114.1693.64
1947124.3297.09
19481-92.77
19482-94.55
19483-102.29
19484-107.75
19485-112.69
19486-110.48
19487-107.74
19488-107.00
19489-110.42
194810-104.78
194811-104.62
194812-106.32
19491-102.79
19492-104.32
19493-104.75
19494-104.56
19495-99.42
19496-105.65
19497-110.05
19498-112.11
19499-115.64
194910-117.89
194911-121.71
194912-124.91
19501-128.06
19502-129.82
19503-134.22
19504-139.47
19505-142.49
19506-132.91
19507-141.73
19508-147.56
19509-154.52
195010-155.10
195011-155.41
195012-167.86
19511-175.09
19512-173.14
19513-176.48
19514-177.59
19515-175.56
19516-179.71
19517-188.63
19518-194.55
19519-194.60
195110-190.22
195111-197.09
195112-204.65
19521-201.92
19522-203.44
19523-203.85
19524-204.79
19525-211.43
19526-218.55
19527-220.47
19528-218.03
19529-214.52
195210-222.38
195211-232.41
195212-234.71
19531-232.89
19532-235.12
19533-224.61
19534-226.86
19535-219.81
19536-224.02
19537-226.03
19538-216.75
19539-224.37
195310-230.44
195311-234.68
195312-241.77
19541-248.24
19542-254.66
19543-265.99
19544-277.75
19545-281.15
19546-293.68
19547-300.71
19548-308.95
19549-317.33
195410-330.98
195411-347.37
195412-354.91
19551-368.05
19552-366.45
19553-380.40
19554-380.10
19555-403.46
19556-434.30
19557-433.00
19558-453.86
19559-432.41
195510-462.97
195511-468.70
195512-457.50
19561-461.85
19562-495.13
19563-502.47
19564-488.21
19565-486.93
19566-514.92
19567-513.46
19568-497.60
19569-492.85
195610-489.34
195611-498.19
195612-488.91
19571-469.38
19572-476.98
19573-489.59
19574-509.96
19575-519.93
19576-532.00
19577-504.31
19578-485.45
19579-456.83
195710-448.60
195711-450.03
195712-460.51
19581-463.74
19582-474.96
19583-479.22
19584-496.26
19585-509.84
19586-525.49
19587-546.80
19588-562.90
19589-587.43
195810-606.97
195811-620.10
195812-646.48
19591-638.30
19592-656.21
19593-668.92
19594-680.73
19595-676.60
19596-705.21
19597-702.96
19598-676.93
19599-678.13
195910-682.66
195911-706.30
195912-695.81
19601-670.70
19602-663.47
19603-673.98
19604-669.77
19605-696.48
19606-681.18
19607-691.34
19608-672.53
19609-661.27
196010-684.69
196011-703.11
196012-741.27
19611-773.69
19612-799.97
19613-823.32
19614-833.72
19615-824.72
19616-824.49
19617-856.14
19618-851.50
19619-862.94
196110-904.12
196111-914.63
196112-882.74
19621-899.60
19622-902.66
19623-876.08
19624-813.13
19625-720.33
19626-739.91
19627-762.27
19628-757.75
19629-736.11
196210-789.11
196211-825.60
196212-859.83
19631-873.55
19632-872.61
19633-916.05
19634-936.84
19635-938.87
19636-927.40
19637-955.51
19638-983.16
19639-988.07
196310-985.04
196311-1,008.62
196312-1,042.20
19641-1,057.63
19642-1,079.53
19643-1,097.81
19644-1,111.21
19645-1,107.31
19646-1,151.17
19647-1,137.06
19648-1,159.41
19649-1,182.25
196410-1,193.33
196411-1,175.55
196412-1,208.71
19651-1,220.49
19652-1,224.59
19653-1,243.66
19654-1,265.21
19655-1,208.18
19656-1,209.42
19657-1,235.05
19658-1,279.46
19659-1,311.41
196510-1,325.52
196511-1,322.71
196512-1,348.91
19661-1,343.10
19662-1,291.23
19663-1,334.11
19664-1,267.30
19665-1,260.21
19666-1,260.44
19667-1,187.72
19668-1,149.42
19669-1,142.93
196610-1,203.69
196611-1,212.31
196612-1,262.38
19671-1,309.47
19672-1,343.95
19673-1,370.73
19674-1,398.94
19675-1,385.06
19676-1,412.66
19677-1,438.82
19678-1,462.61
19679-1,464.04
196710-1,421.85
196711-1,466.09
196712-1,465.84
19681-1,403.44
19682-1,381.55
19683-1,487.40
19684-1,525.45
19685-1,570.30
19686-1,571.07
19687-1,540.69
19688-1,594.73
19689-1,638.06
196810-1,667.32
196811-1,688.75
196812-1,621.45
19691-1,617.58
19692-1,586.62
19693-1,622.71
19694-1,679.72
19695-1,596.22
19696-1,529.09
19697-1,524.75
19698-1,534.34
19699-1,554.99
196910-1,570.50
196911-1,491.55
196912-1,482.76
19701-1,435.37
19702-1,464.26
19703-1,424.02
19704-1,264.55
19705-1,261.13
19706-1,267.72
19707-1,309.00
19708-1,391.74
19709-1,426.39
197010-1,429.34
197011-1,531.66
197012-1,594.62
19711-1,660.81
19712-1,707.84
19713-1,770.59
19714-1,750.97
19715-1,723.03
19716-1,715.05
19717-1,689.03
19718-1,731.03
19719-1,698.77
197110-1,624.51
197111-1,740.88
197112-1,817.87
19721-1,855.81
19722-1,904.42
19723-1,928.40
19724-1,913.44
19725-1,923.31
19726-1,913.62
19727-1,986.02
19728-1,961.98
19729-1,970.17
197210-2,073.69
197211-2,121.63
197212-2,142.62
19731-2,071.37
19732-2,043.50
19733-2,010.13
19734-1,958.47
19735-1,919.50
19736-1,942.73
19737-1,910.96
19738-1,949.09
19739-2,031.64
197310-1,892.42
197311-1,763.63
197312-1,793.62
19741-1,749.27
19742-1,829.29
19743-1,741.18
19744-1,694.07
19745-1,701.81
19746-1,508.71
19747-1,451.91
19748-1,306.52
19749-1,337.58
197410-1,387.65
197411-1,303.12
197412-1,415.61
19751-1,568.61
19752-1,646.62
19753-1,671.11
19754-1,783.28
19755-1,834.90
19756-1,842.83
19757-1,713.90
19758-1,699.29
19759-1,783.76
197510-1,820.18
197511-1,798.71
197512-1,970.40
19761-2,052.73
19762-2,069.20
19763-2,091.87
19764-2,083.85
19765-2,102.62
19766-2,158.66
19767-2,146.56
19768-2,198.89
19769-2,130.54
197610-2,122.73
197611-2,203.11
197612-2,191.27
19771-2,139.37
19772-2,138.21
19773-2,112.68
19774-2,114.05
19775-2,133.07
19776-2,160.42
19777-2,115.52
19778-2,090.65
19779-2,044.70
197710-2,064.76
197711-2,063.11
197712-1,993.16
19781-1,973.79
19782-1,979.03
19783-2,074.62
19784-2,188.81
19785-2,203.56
19786-2,202.18
19787-2,363.56
19788-2,373.01
19789-2,307.20
197810-2,181.74
197811-2,223.69
197812-2,316.76
19791-2,292.27
19792-2,345.94
19793-2,402.96
19794-2,357.47
19795-2,414.47
19796-2,448.78
19797-2,571.57
19798-2,611.18
19799-2,523.64
197910-2,515.50
197911-2,626.28
197912-2,713.28
19801-2,832.55
19802-2,583.91
19803-2,553.89
19804-2,682.51
19805-2,866.60
19806-3,009.05
19807-3,114.51
19808-3,202.83
19809-3,309.32
198010-3,462.03
198011-3,418.94
198012-3,419.28
19811-3,314.30
19812-3,451.62
19813-3,496.28
19814-3,439.74
19815-3,469.23
19816-3,399.29
19817-3,426.57
19818-3,142.07
19819-3,196.34
198110-3,293.63
198111-3,332.47
198112-3,172.38
19821-3,111.66
19822-3,026.26
19823-3,191.78
19824-3,209.96
19825-3,040.77
19826-3,048.19
19827-3,072.39
19828-3,444.04
19829-3,749.92
198210-3,918.66
198211-3,971.78
198212-4,127.70
19831-4,215.62
19832-4,378.58
19833-4,562.37
19834-4,764.21
19835-4,847.75
19836-4,882.08
19837-4,764.55
19838-4,922.44
19839-4,954.34
198310-4,897.79
198311-4,891.51
198312-4,968.60
19841-4,714.60
19842-4,735.45
19843-4,759.47
19844-4,747.45
19845-4,659.70
19846-4,617.37
19847-5,042.47
19848-5,113.42
19849-5,092.33
198410-5,157.81
198411-5,121.32
198412-5,361.89
19851-5,672.21
19852-5,645.08
19853-5,702.92
19854-5,858.93
19855-6,006.05
19856-6,141.02
19857-6,027.70
19858-5,914.07
19859-6,002.52
198510-6,387.92
198511-6,726.13
198512-6,776.69
19861-7,162.77
19862-7,605.63
19863-7,814.13
19864-7,852.57
19865-8,098.61
19866-7,952.51
19867-8,133.90
19868-7,934.11
19869-7,926.98
198610-8,207.04
198611-8,347.29
198612-8,904.34
19871-9,479.72
19872-9,894.59
19873-9,809.86
19874-9,826.81
19875-10,268.86
19876-10,589.47
19877-11,272.91
19878-10,931.30
19879-9,635.51
198710-8,450.02
198711-8,337.23
198712-8,691.28
19881-8,980.57
19882-9,270.83
19883-9,188.69
19884-8,987.62
19885-9,526.71
19886-9,497.47
19887-9,334.26
19888-9,514.15
19889-9,875.84
198810-9,676.32
198811-9,901.39
198812-10,249.19
19891-10,587.40
19892-10,570.28
19893-10,947.09
19894-11,397.60
19895-11,784.27
19896-12,114.25
19897-12,682.50
19898-12,740.28
19899-12,776.75
198910-12,545.03
198911-12,888.36
198912-12,603.36
19901-12,284.85
19902-12,617.43
19903-12,642.15
19904-13,128.99
19905-13,545.18
19906-13,568.17
19907-12,501.54
19908-11,958.84
19909-11,681.90
199010-12,030.47
199011-12,582.26
199012-12,496.05
19911-13,946.44
19912-14,371.06
19913-14,695.67
19914-14,669.39
19915-14,720.29
19916-14,835.18
19917-15,232.60
19918-15,186.43
19919-15,214.02
199110-15,216.42
199111-15,358.72
199112-16,488.82
19921-16,389.74
19922-16,223.82
19923-16,266.70
19924-16,603.15
19925-16,382.47
19926-16,695.73
19927-16,852.95
19928-16,916.69
19929-16,716.73
199210-17,177.59
199211-17,739.50
199212-17,764.85
19931-18,071.16
19932-18,459.72
19933-18,212.04
19934-18,344.02
19935-18,502.73
19936-18,514.02
19937-18,840.32
19938-19,095.60
19939-19,332.75
199310-19,334.21
199311-19,505.74
199312-19,844.34
19941-19,829.32
19942-19,546.98
19943-18,892.87
19944-19,092.80
19945-19,304.37
19946-19,204.20
19947-19,796.09
19948-19,957.91
19949-19,869.30
199410-19,795.81
199411-19,592.76
199412-20,073.01
19951-20,839.62
19952-21,372.73
19953-22,059.98
19954-22,798.50
19955-23,523.13
19956-24,357.61
19957-24,482.59
19958-25,392.78
19959-25,624.50
199510-26,228.83
199511-27,117.76
199512-27,161.85
19961-28,765.59
19962-28,707.86
19963-28,764.42
19964-29,441.77
19965-29,818.22
19966-28,781.57
19967-29,666.82
19968-30,267.19
19969-31,514.05
199610-33,106.16
199611-33,502.85
199612-34,594.22
19971-36,102.93
19972-35,877.76
19973-34,656.03
19974-37,850.57
19975-39,870.59
19976-42,157.53
19977-42,304.15
19978-42,808.42
19979-43,512.78
199710-43,011.50
199711-44,144.68
199712-44,249.35
19981-47,082.26
19982-49,583.68
19983-51,272.34
19984-51,158.59
19985-51,218.16
19986-53,506.42
19987-49,776.48
19988-47,338.21
19989-47,949.28
199810-53,211.41
199811-55,395.27
199812-58,191.45
19991-58,152.63
19992-59,852.72
19993-62,396.48
19994-62,334.81
19995-61,953.47
19996-64,755.24
19997-62,311.13
19998-61,938.50
19999-61,150.35
199910-65,495.66
199911-67,335.26
199912-67,255.18
20001-65,588.54
20002-68,173.35
20003-69,144.60
20004-67,181.72
20005-69,307.00
20006-69,896.35
20007-70,553.18
20008-69,791.45
20009-66,152.36
200010-65,641.29
200011-63,461.95
200012-63,750.71
20011-62,388.83
20012-56,723.98
20013-56,978.50
20014-60,898.24
20015-59,443.60
20016-57,862.26
20017-56,678.49
20018-50,303.68
20019-51,905.36
200110-54,528.22
200111-55,327.63
200112-55,162.92
20021-53,313.44
20022-55,949.93
20023-53,983.61
20024-52,461.07
20025-49,354.87
20026-44,045.03
20027-44,546.61
20028-42,427.20
20029-41,847.20
200210-44,619.82
200211-44,157.98
200212-44,059.72
20031-41,233.36
20032-41,772.65
20033-43,980.70
20034-46,317.04
20035-48,959.05
20036-49,250.80
20037-49,168.88
20038-50,723.20
20039-51,751.78
200310-52,378.28
200311-53,983.05
200312-56,647.10
20041-57,262.66
20042-56,366.39
20043-56,912.09
20044-55,452.72
20045-57,037.38
20046-55,760.44
20047-54,986.72
20048-56,516.80
20049-56,574.78
200410-59,275.60
200411-60,892.31
200412-60,070.74
20051-61,080.65
20052-60,924.54
20053-59,456.92
20054-60,251.18
20055-61,565.08
20056-62,678.05
20057-62,872.36
20058-63,048.21
20059-61,393.68
200510-63,825.82
200511-65,194.33
200512-66,150.58
20061-66,139.57
20062-67,122.50
20063-67,658.36
20064-67,126.13
20065-65,309.84
20066-65,780.10
20067-67,287.62
20068-68,990.79
20069-71,485.43
200610-72,916.32
200611-74,482.75
200612-74,998.79
20071-76,195.80
20072-74,310.80
20073-77,417.19
20074-80,042.99
20075-80,319.06
20076-80,780.59
20077-77,386.91
20078-79,766.36
20079-82,152.67
200710-78,204.16
200711-79,172.50
200712-73,919.25
20081-72,763.18
20082-70,851.95
20083-73,858.77
20084-75,751.48
20085-72,534.63
20086-68,125.63
20087-69,563.45
20088-66,191.33
20089-52,824.93
200810-48,279.16
200811-48,109.60
200812-47,582.53
20091-44,393.31
20092-41,868.47
20093-47,027.39
20094-50,159.33
20095-51,598.34
20096-52,257.58
20097-56,501.28
20098-58,563.77
20099-59,971.12
200910-61,227.12
200911-62,589.94
200912-63,439.27
20101-61,600.50
20102-65,261.44
20103-67,929.28
20104-63,933.41
20105-61,667.89
20106-61,569.79
20107-62,101.52
20108-64,195.05
20109-67,133.54
201010-68,805.78
201011-71,361.05
201012-73,831.70
20111-76,158.04
20112-75,310.81
20113-76,983.45
20114-77,490.95
20115-74,652.77
20116-76,968.30
20117-68,963.10
20118-68,418.81
20119-70,484.31
201110-71,729.86
201111-72,845.08
201112-76,328.93
20121-79,506.21
20122-81,799.04
20123-81,767.78
20124-79,240.38
20125-78,327.21
20126-80,615.21
20127-83,346.21
20128-85,864.24
20129-85,677.80
201210-83,246.70
201211-85,057.76
201212-88,688.67
20131-90,757.80
20132-93,228.64
20133-94,583.99
20134-98,910.51
20135-97,804.92
20136-100,987.96
20137-101,242.98
20138-102,450.27
20139-104,619.70
201310-108,658.02
201311-110,311.42
201312-111,379.03
20141-111,234.19
20142-114,262.29
20143-114,492.78
20144-116,246.85
20145-119,962.47
20146-121,756.90
20147-121,237.05
20148-123,392.69
20149-120,127.00
201410-126,981.03
201411-127,785.95
201412-126,367.46
20151-129,940.37
20152-130,012.31
20153-131,154.35
20154-132,438.23
20155-131,861.46
20156-131,756.46
20157-128,562.16
20158-122,767.74
20159-128,067.77
201510-131,823.32
201511-130,369.35
201512-122,000.13
20161-121,329.24
20162-129,049.09
20163-132,702.80
20164-132,298.90
20165-133,709.86
20166-138,118.86
20167-139,775.26
20168-139,162.10
20169-138,457.97
201610-140,121.07
201611-145,650.20
201612-147,744.12
20171-151,550.66
20172-154,201.67
20173-153,964.20
20174-156,569.85
20175-159,351.20
20176-160,925.40
20177-161,324.18
20178-163,991.30
20179-168,476.13
201710-171,154.17
201711-176,089.38
201712-184,650.67
20181-179,320.38
20182-179,436.18
20183-176,450.42
20184-179,911.70
20185-183,713.18
20186-186,617.22
20187-191,190.84
20188-194,402.36
20189-186,919.84
201810-183,039.18
201811-172,857.61
201812-175,857.79
20191-186,108.37
20192-189,733.80
20193-196,798.00
20194-193,783.47
20195-196,505.65
20196-204,026.59
20197-197,631.56
20198-203,728.94
20199-203,748.91
201910-212,782.51
201911-218,036.79
201912-225,333.17
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 1946 to 2019
Start Value
Average monthly close
$18.02
End Value
Average monthly close
$2,607.39
Change in price+14,369.42%
+7.05% / yr
Change incl. dividends+209,234.08%
+10.89% / yr
Change incl. dividends, inflation-adjusted+15,866.73%
+7.10% / yr
Final amount, nominal
($100 base)
$209,334.08
Final amount, inflation-adjusted
($100 base)
$15,966.73