Stock market returns since 1977
If you invested $100 in the S&P 500 at the beginning of 1977, you would have about $18,520.26 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 18,420.26%, or 11.64% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,455.45% cumulatively, or 7.82% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $18,904.11.
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 $18,420.26, or 18,420.26%. This means by 2024 you would have $18,520.26 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 1977 was 60.600 and the CPI in 2024 was 315.664.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 47 years.
Adjusted for inflation, the $18,520.26 nominal end value of the original $100 investment would have a real return of roughly $3,455.45 in 1977 dollars. This means the inflation-adjusted return is 3,455.45% as opposed to the original 18,420.26%.
For more information on inflation, see our U.S. inflation calculator for 1977.
Full monthly data
The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 569-month period between 1977 and 2024.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1977 | 1 | -2.37% | 97.63 | 58.50 |
| 1977 | 2 | -0.05% | 97.58 | 59.10 |
| 1977 | 3 | -1.19% | 96.41 | 59.50 |
| 1977 | 4 | 0.06% | 96.48 | 60.00 |
| 1977 | 5 | 0.90% | 97.34 | 60.30 |
| 1977 | 6 | 1.28% | 98.59 | 60.70 |
| 1977 | 7 | -2.08% | 96.54 | 61.00 |
| 1977 | 8 | -1.18% | 95.41 | 61.20 |
| 1977 | 9 | -2.20% | 93.31 | 61.40 |
| 1977 | 10 | 0.98% | 94.23 | 61.60 |
| 1977 | 11 | -0.08% | 94.15 | 61.90 |
| 1977 | 12 | -3.39% | 90.96 | 62.10 |
| 1978 | 1 | -0.97% | 90.08 | 62.50 |
| 1978 | 2 | 0.27% | 90.31 | 62.90 |
| 1978 | 3 | 4.83% | 94.68 | 63.40 |
| 1978 | 4 | 5.50% | 99.89 | 63.90 |
| 1978 | 5 | 0.67% | 100.56 | 64.50 |
| 1978 | 6 | -0.06% | 100.50 | 65.20 |
| 1978 | 7 | 7.33% | 107.86 | 65.70 |
| 1978 | 8 | 0.40% | 108.29 | 66.00 |
| 1978 | 9 | -2.77% | 105.29 | 66.50 |
| 1978 | 10 | -5.44% | 99.57 | 67.10 |
| 1978 | 11 | 1.92% | 101.48 | 67.40 |
| 1978 | 12 | 4.19% | 105.73 | 67.70 |
| 1979 | 1 | -1.06% | 104.61 | 68.30 |
| 1979 | 2 | 2.34% | 107.06 | 69.10 |
| 1979 | 3 | 2.43% | 109.66 | 69.80 |
| 1979 | 4 | -1.89% | 107.58 | 70.60 |
| 1979 | 5 | 2.42% | 110.19 | 71.50 |
| 1979 | 6 | 1.42% | 111.75 | 72.30 |
| 1979 | 7 | 5.01% | 117.36 | 73.10 |
| 1979 | 8 | 1.54% | 119.16 | 73.80 |
| 1979 | 9 | -3.35% | 115.17 | 74.60 |
| 1979 | 10 | -0.32% | 114.80 | 75.20 |
| 1979 | 11 | 4.40% | 119.85 | 75.90 |
| 1979 | 12 | 3.31% | 123.82 | 76.70 |
| 1980 | 1 | 4.40% | 129.27 | 77.80 |
| 1980 | 2 | -8.78% | 117.92 | 78.90 |
| 1980 | 3 | -1.16% | 116.55 | 80.10 |
| 1980 | 4 | 5.04% | 122.42 | 81.00 |
| 1980 | 5 | 6.86% | 130.82 | 81.80 |
| 1980 | 6 | 4.97% | 137.32 | 82.70 |
| 1980 | 7 | 3.50% | 142.13 | 82.70 |
| 1980 | 8 | 2.84% | 146.16 | 83.30 |
| 1980 | 9 | 3.32% | 151.02 | 84.00 |
| 1980 | 10 | 4.61% | 157.99 | 84.80 |
| 1980 | 11 | -1.24% | 156.03 | 85.50 |
| 1980 | 12 | 0.01% | 156.04 | 86.30 |
| 1981 | 1 | -3.07% | 151.25 | 87.00 |
| 1981 | 2 | 4.14% | 157.52 | 87.90 |
| 1981 | 3 | 1.29% | 159.56 | 88.50 |
| 1981 | 4 | -1.62% | 156.97 | 89.10 |
| 1981 | 5 | 0.86% | 158.32 | 89.80 |
| 1981 | 6 | -2.02% | 155.13 | 90.60 |
| 1981 | 7 | 0.80% | 156.37 | 91.60 |
| 1981 | 8 | -8.30% | 143.39 | 92.30 |
| 1981 | 9 | 1.73% | 145.87 | 93.20 |
| 1981 | 10 | 3.04% | 150.31 | 93.40 |
| 1981 | 11 | 1.18% | 152.08 | 93.70 |
| 1981 | 12 | -4.80% | 144.77 | 94.00 |
| 1982 | 1 | -1.91% | 142.00 | 94.30 |
| 1982 | 2 | -2.74% | 138.11 | 94.60 |
| 1982 | 3 | 5.47% | 145.66 | 94.50 |
| 1982 | 4 | 0.57% | 146.49 | 94.90 |
| 1982 | 5 | -5.27% | 138.77 | 95.80 |
| 1982 | 6 | 0.24% | 139.11 | 97.00 |
| 1982 | 7 | 0.79% | 140.21 | 97.50 |
| 1982 | 8 | 12.10% | 157.17 | 97.70 |
| 1982 | 9 | 8.88% | 171.13 | 97.90 |
| 1982 | 10 | 4.50% | 178.83 | 98.20 |
| 1982 | 11 | 1.36% | 181.25 | 98.00 |
| 1982 | 12 | 3.93% | 188.37 | 97.60 |
| 1983 | 1 | 2.13% | 192.38 | 97.80 |
| 1983 | 2 | 3.87% | 199.82 | 97.90 |
| 1983 | 3 | 4.20% | 208.21 | 97.90 |
| 1983 | 4 | 4.42% | 217.42 | 98.60 |
| 1983 | 5 | 1.75% | 221.23 | 99.20 |
| 1983 | 6 | 0.71% | 222.80 | 99.50 |
| 1983 | 7 | -2.41% | 217.43 | 99.90 |
| 1983 | 8 | 3.31% | 224.64 | 100.20 |
| 1983 | 9 | 0.65% | 226.09 | 100.70 |
| 1983 | 10 | -1.14% | 223.51 | 101.00 |
| 1983 | 11 | -0.13% | 223.23 | 101.20 |
| 1983 | 12 | 1.58% | 226.75 | 101.30 |
| 1984 | 1 | -5.11% | 215.15 | 101.90 |
| 1984 | 2 | 0.44% | 216.11 | 102.40 |
| 1984 | 3 | 0.51% | 217.20 | 102.60 |
| 1984 | 4 | -0.25% | 216.65 | 103.10 |
| 1984 | 5 | -1.85% | 212.65 | 103.40 |
| 1984 | 6 | -0.91% | 210.72 | 103.70 |
| 1984 | 7 | 9.21% | 230.12 | 104.10 |
| 1984 | 8 | 1.41% | 233.35 | 104.50 |
| 1984 | 9 | -0.41% | 232.39 | 105.00 |
| 1984 | 10 | 1.29% | 235.38 | 105.30 |
| 1984 | 11 | -0.71% | 233.71 | 105.30 |
| 1984 | 12 | 4.70% | 244.69 | 105.30 |
| 1985 | 1 | 5.79% | 258.85 | 105.50 |
| 1985 | 2 | -0.48% | 257.62 | 106.00 |
| 1985 | 3 | 1.02% | 260.26 | 106.40 |
| 1985 | 4 | 2.74% | 267.38 | 106.90 |
| 1985 | 5 | 2.51% | 274.09 | 107.30 |
| 1985 | 6 | 2.25% | 280.25 | 107.60 |
| 1985 | 7 | -1.85% | 275.08 | 107.80 |
| 1985 | 8 | -1.88% | 269.89 | 108.00 |
| 1985 | 9 | 1.50% | 273.93 | 108.30 |
| 1985 | 10 | 6.42% | 291.52 | 108.70 |
| 1985 | 11 | 5.29% | 306.95 | 109.00 |
| 1985 | 12 | 0.75% | 309.26 | 109.30 |
| 1986 | 1 | 5.70% | 326.88 | 109.60 |
| 1986 | 2 | 6.18% | 347.09 | 109.30 |
| 1986 | 3 | 2.74% | 356.60 | 108.80 |
| 1986 | 4 | 0.49% | 358.36 | 108.60 |
| 1986 | 5 | 3.13% | 369.59 | 108.90 |
| 1986 | 6 | -1.80% | 362.92 | 109.50 |
| 1986 | 7 | 2.28% | 371.20 | 109.50 |
| 1986 | 8 | -2.46% | 362.08 | 109.70 |
| 1986 | 9 | -0.09% | 361.75 | 110.20 |
| 1986 | 10 | 3.53% | 374.53 | 110.30 |
| 1986 | 11 | 1.71% | 380.93 | 110.40 |
| 1986 | 12 | 6.67% | 406.36 | 110.50 |
| 1987 | 1 | 6.46% | 432.61 | 111.20 |
| 1987 | 2 | 4.38% | 451.55 | 111.60 |
| 1987 | 3 | -0.86% | 447.68 | 112.10 |
| 1987 | 4 | 0.17% | 448.45 | 112.70 |
| 1987 | 5 | 4.50% | 468.63 | 113.10 |
| 1987 | 6 | 3.12% | 483.26 | 113.50 |
| 1987 | 7 | 6.45% | 514.45 | 113.80 |
| 1987 | 8 | -3.03% | 498.86 | 114.40 |
| 1987 | 9 | -11.85% | 439.72 | 115.00 |
| 1987 | 10 | -12.30% | 385.62 | 115.30 |
| 1987 | 11 | -1.33% | 380.48 | 115.40 |
| 1987 | 12 | 4.25% | 396.63 | 115.40 |
| 1988 | 1 | 3.33% | 409.83 | 115.70 |
| 1988 | 2 | 3.23% | 423.08 | 116.00 |
| 1988 | 3 | -0.89% | 419.33 | 116.50 |
| 1988 | 4 | -2.19% | 410.16 | 117.10 |
| 1988 | 5 | 6.00% | 434.76 | 117.50 |
| 1988 | 6 | -0.31% | 433.42 | 118.00 |
| 1988 | 7 | -1.72% | 425.97 | 118.50 |
| 1988 | 8 | 1.93% | 434.18 | 119.00 |
| 1988 | 9 | 3.80% | 450.69 | 119.80 |
| 1988 | 10 | -2.02% | 441.59 | 120.20 |
| 1988 | 11 | 2.33% | 451.86 | 120.30 |
| 1988 | 12 | 3.51% | 467.73 | 120.50 |
| 1989 | 1 | 3.30% | 483.16 | 121.10 |
| 1989 | 2 | -0.16% | 482.38 | 121.60 |
| 1989 | 3 | 3.56% | 499.58 | 122.30 |
| 1989 | 4 | 4.12% | 520.14 | 123.10 |
| 1989 | 5 | 3.39% | 537.78 | 123.80 |
| 1989 | 6 | 2.80% | 552.84 | 124.10 |
| 1989 | 7 | 4.69% | 578.77 | 124.40 |
| 1989 | 8 | 0.46% | 581.41 | 124.60 |
| 1989 | 9 | 0.29% | 583.08 | 125.00 |
| 1989 | 10 | -1.81% | 572.50 | 125.60 |
| 1989 | 11 | 2.74% | 588.17 | 125.90 |
| 1989 | 12 | -2.21% | 575.16 | 126.10 |
| 1990 | 1 | -2.53% | 560.63 | 127.40 |
| 1990 | 2 | 2.71% | 575.80 | 128.00 |
| 1990 | 3 | 0.20% | 576.93 | 128.70 |
| 1990 | 4 | 3.85% | 599.15 | 128.90 |
| 1990 | 5 | 3.17% | 618.14 | 129.20 |
| 1990 | 6 | 0.17% | 619.19 | 129.90 |
| 1990 | 7 | -7.86% | 570.52 | 130.40 |
| 1990 | 8 | -4.34% | 545.75 | 131.60 |
| 1990 | 9 | -2.32% | 533.11 | 132.70 |
| 1990 | 10 | 2.98% | 549.02 | 133.50 |
| 1990 | 11 | 4.59% | 574.20 | 133.80 |
| 1990 | 12 | -0.69% | 570.27 | 133.80 |
| 1991 | 1 | 11.61% | 636.45 | 134.60 |
| 1991 | 2 | 3.04% | 655.83 | 134.80 |
| 1991 | 3 | 2.26% | 670.65 | 135.00 |
| 1991 | 4 | -0.18% | 669.45 | 135.20 |
| 1991 | 5 | 0.35% | 671.77 | 135.60 |
| 1991 | 6 | 0.78% | 677.01 | 136.00 |
| 1991 | 7 | 2.68% | 695.15 | 136.20 |
| 1991 | 8 | -0.30% | 693.04 | 136.60 |
| 1991 | 9 | 0.18% | 694.30 | 137.20 |
| 1991 | 10 | 0.02% | 694.41 | 137.40 |
| 1991 | 11 | 0.94% | 700.91 | 137.80 |
| 1991 | 12 | 7.36% | 752.48 | 137.90 |
| 1992 | 1 | -0.60% | 747.96 | 138.10 |
| 1992 | 2 | -1.01% | 740.38 | 138.60 |
| 1992 | 3 | 0.26% | 742.34 | 139.30 |
| 1992 | 4 | 2.07% | 757.70 | 139.50 |
| 1992 | 5 | -1.33% | 747.62 | 139.70 |
| 1992 | 6 | 1.91% | 761.92 | 140.20 |
| 1992 | 7 | 0.94% | 769.10 | 140.50 |
| 1992 | 8 | 0.38% | 772.00 | 140.90 |
| 1992 | 9 | -1.18% | 762.88 | 141.30 |
| 1992 | 10 | 2.76% | 783.91 | 141.80 |
| 1992 | 11 | 3.27% | 809.55 | 142.00 |
| 1992 | 12 | 0.14% | 810.71 | 141.90 |
| 1993 | 1 | 1.72% | 824.69 | 142.60 |
| 1993 | 2 | 2.15% | 842.42 | 143.10 |
| 1993 | 3 | -1.34% | 831.12 | 143.60 |
| 1993 | 4 | 0.72% | 837.14 | 144.00 |
| 1993 | 5 | 0.87% | 844.38 | 144.20 |
| 1993 | 6 | 0.06% | 844.90 | 144.40 |
| 1993 | 7 | 1.76% | 859.79 | 144.40 |
| 1993 | 8 | 1.35% | 871.44 | 144.80 |
| 1993 | 9 | 1.24% | 882.26 | 145.10 |
| 1993 | 10 | 0.01% | 882.33 | 145.70 |
| 1993 | 11 | 0.89% | 890.16 | 145.80 |
| 1993 | 12 | 1.74% | 905.61 | 145.80 |
| 1994 | 1 | -0.08% | 904.92 | 146.20 |
| 1994 | 2 | -1.42% | 892.04 | 146.70 |
| 1994 | 3 | -3.35% | 862.19 | 147.20 |
| 1994 | 4 | 1.06% | 871.31 | 147.40 |
| 1994 | 5 | 1.11% | 880.97 | 147.50 |
| 1994 | 6 | -0.52% | 876.40 | 148.00 |
| 1994 | 7 | 3.08% | 903.41 | 148.40 |
| 1994 | 8 | 0.82% | 910.79 | 149.00 |
| 1994 | 9 | -0.44% | 906.75 | 149.40 |
| 1994 | 10 | -0.37% | 903.39 | 149.50 |
| 1994 | 11 | -1.03% | 894.13 | 149.70 |
| 1994 | 12 | 2.45% | 916.04 | 149.70 |
| 1995 | 1 | 3.82% | 951.03 | 150.30 |
| 1995 | 2 | 2.56% | 975.36 | 150.90 |
| 1995 | 3 | 3.22% | 1,006.72 | 151.40 |
| 1995 | 4 | 3.35% | 1,040.42 | 151.90 |
| 1995 | 5 | 3.18% | 1,073.49 | 152.20 |
| 1995 | 6 | 3.55% | 1,111.58 | 152.50 |
| 1995 | 7 | 0.51% | 1,117.28 | 152.50 |
| 1995 | 8 | 3.72% | 1,158.82 | 152.90 |
| 1995 | 9 | 0.91% | 1,169.39 | 153.20 |
| 1995 | 10 | 2.36% | 1,196.97 | 153.70 |
| 1995 | 11 | 3.39% | 1,237.54 | 153.60 |
| 1995 | 12 | 0.16% | 1,239.55 | 153.50 |
| 1996 | 1 | 5.90% | 1,312.74 | 154.40 |
| 1996 | 2 | -0.20% | 1,310.10 | 154.90 |
| 1996 | 3 | 0.20% | 1,312.68 | 155.70 |
| 1996 | 4 | 2.35% | 1,343.59 | 156.30 |
| 1996 | 5 | 1.28% | 1,360.77 | 156.60 |
| 1996 | 6 | -3.48% | 1,313.47 | 156.70 |
| 1996 | 7 | 3.08% | 1,353.86 | 157.00 |
| 1996 | 8 | 2.02% | 1,381.26 | 157.30 |
| 1996 | 9 | 4.12% | 1,438.16 | 157.80 |
| 1996 | 10 | 5.05% | 1,510.82 | 158.30 |
| 1996 | 11 | 1.20% | 1,528.92 | 158.60 |
| 1996 | 12 | 3.26% | 1,578.73 | 158.60 |
| 1997 | 1 | 4.36% | 1,647.58 | 159.10 |
| 1997 | 2 | -0.62% | 1,637.30 | 159.60 |
| 1997 | 3 | -3.41% | 1,581.55 | 160.00 |
| 1997 | 4 | 9.22% | 1,727.34 | 160.20 |
| 1997 | 5 | 5.34% | 1,819.52 | 160.10 |
| 1997 | 6 | 5.74% | 1,923.89 | 160.30 |
| 1997 | 7 | 0.35% | 1,930.58 | 160.50 |
| 1997 | 8 | 1.19% | 1,953.59 | 160.80 |
| 1997 | 9 | 1.65% | 1,985.73 | 161.20 |
| 1997 | 10 | -1.15% | 1,962.86 | 161.60 |
| 1997 | 11 | 2.63% | 2,014.57 | 161.50 |
| 1997 | 12 | 0.24% | 2,019.35 | 161.30 |
| 1998 | 1 | 6.40% | 2,148.63 | 161.60 |
| 1998 | 2 | 5.31% | 2,262.78 | 161.90 |
| 1998 | 3 | 3.41% | 2,339.85 | 162.20 |
| 1998 | 4 | -0.22% | 2,334.66 | 162.50 |
| 1998 | 5 | 0.12% | 2,337.37 | 162.80 |
| 1998 | 6 | 4.47% | 2,441.80 | 163.00 |
| 1998 | 7 | -6.97% | 2,271.58 | 163.20 |
| 1998 | 8 | -4.90% | 2,160.31 | 163.40 |
| 1998 | 9 | 1.29% | 2,188.20 | 163.60 |
| 1998 | 10 | 10.97% | 2,428.34 | 164.00 |
| 1998 | 11 | 4.10% | 2,528.00 | 164.00 |
| 1998 | 12 | 5.05% | 2,655.60 | 163.90 |
| 1999 | 1 | -0.07% | 2,653.83 | 164.30 |
| 1999 | 2 | 2.92% | 2,731.42 | 164.50 |
| 1999 | 3 | 4.25% | 2,847.50 | 165.00 |
| 1999 | 4 | -0.10% | 2,844.69 | 166.20 |
| 1999 | 5 | -0.61% | 2,827.29 | 166.20 |
| 1999 | 6 | 4.52% | 2,955.15 | 166.20 |
| 1999 | 7 | -3.77% | 2,843.61 | 166.70 |
| 1999 | 8 | -0.60% | 2,826.60 | 167.10 |
| 1999 | 9 | -1.27% | 2,790.64 | 167.90 |
| 1999 | 10 | 7.11% | 2,988.94 | 168.20 |
| 1999 | 11 | 2.81% | 3,072.89 | 168.30 |
| 1999 | 12 | -0.12% | 3,069.23 | 168.30 |
| 2000 | 1 | -2.48% | 2,993.18 | 168.80 |
| 2000 | 2 | 3.94% | 3,111.14 | 169.80 |
| 2000 | 3 | 1.42% | 3,155.46 | 171.20 |
| 2000 | 4 | -2.84% | 3,065.88 | 171.30 |
| 2000 | 5 | 3.16% | 3,162.87 | 171.50 |
| 2000 | 6 | 0.85% | 3,189.77 | 172.40 |
| 2000 | 7 | 0.94% | 3,219.74 | 172.80 |
| 2000 | 8 | -1.08% | 3,184.98 | 172.80 |
| 2000 | 9 | -5.21% | 3,018.91 | 173.70 |
| 2000 | 10 | -0.77% | 2,995.58 | 174.00 |
| 2000 | 11 | -3.32% | 2,896.13 | 174.10 |
| 2000 | 12 | 0.46% | 2,909.30 | 174.00 |
| 2001 | 1 | -2.14% | 2,847.15 | 175.10 |
| 2001 | 2 | -9.08% | 2,588.64 | 175.80 |
| 2001 | 3 | 0.45% | 2,600.25 | 176.20 |
| 2001 | 4 | 6.88% | 2,779.13 | 176.90 |
| 2001 | 5 | -2.39% | 2,712.75 | 177.70 |
| 2001 | 6 | -2.66% | 2,640.58 | 178.00 |
| 2001 | 7 | -2.05% | 2,586.56 | 177.50 |
| 2001 | 8 | -11.25% | 2,295.64 | 177.50 |
| 2001 | 9 | 3.18% | 2,368.73 | 178.30 |
| 2001 | 10 | 5.05% | 2,488.43 | 177.70 |
| 2001 | 11 | 1.47% | 2,524.91 | 177.40 |
| 2001 | 12 | -0.30% | 2,517.40 | 176.70 |
| 2002 | 1 | -3.35% | 2,432.99 | 177.10 |
| 2002 | 2 | 4.95% | 2,553.31 | 177.80 |
| 2002 | 3 | -3.51% | 2,463.58 | 178.80 |
| 2002 | 4 | -2.82% | 2,394.09 | 179.80 |
| 2002 | 5 | -5.92% | 2,252.34 | 179.80 |
| 2002 | 6 | -10.76% | 2,010.02 | 179.90 |
| 2002 | 7 | 1.14% | 2,032.91 | 180.10 |
| 2002 | 8 | -4.76% | 1,936.19 | 180.70 |
| 2002 | 9 | -1.37% | 1,909.72 | 181.00 |
| 2002 | 10 | 6.63% | 2,036.25 | 181.30 |
| 2002 | 11 | -1.04% | 2,015.18 | 181.30 |
| 2002 | 12 | -0.22% | 2,010.69 | 180.90 |
| 2003 | 1 | -6.41% | 1,881.71 | 181.70 |
| 2003 | 2 | 1.31% | 1,906.32 | 183.10 |
| 2003 | 3 | 5.29% | 2,007.09 | 184.20 |
| 2003 | 4 | 5.31% | 2,113.71 | 183.80 |
| 2003 | 5 | 5.70% | 2,234.28 | 183.50 |
| 2003 | 6 | 0.60% | 2,247.59 | 183.70 |
| 2003 | 7 | -0.17% | 2,243.85 | 183.90 |
| 2003 | 8 | 3.16% | 2,314.79 | 184.60 |
| 2003 | 9 | 2.03% | 2,361.73 | 185.20 |
| 2003 | 10 | 1.21% | 2,390.32 | 185.00 |
| 2003 | 11 | 3.06% | 2,463.55 | 184.50 |
| 2003 | 12 | 4.93% | 2,585.13 | 184.30 |
| 2004 | 1 | 1.09% | 2,613.22 | 185.20 |
| 2004 | 2 | -1.57% | 2,572.32 | 186.20 |
| 2004 | 3 | 0.97% | 2,597.22 | 187.40 |
| 2004 | 4 | -2.56% | 2,530.62 | 188.00 |
| 2004 | 5 | 2.86% | 2,602.94 | 189.10 |
| 2004 | 6 | -2.24% | 2,544.66 | 189.70 |
| 2004 | 7 | -1.39% | 2,509.35 | 189.40 |
| 2004 | 8 | 2.78% | 2,579.18 | 189.50 |
| 2004 | 9 | 0.10% | 2,581.83 | 189.90 |
| 2004 | 10 | 4.77% | 2,705.08 | 190.90 |
| 2004 | 11 | 2.73% | 2,778.86 | 191.00 |
| 2004 | 12 | -1.35% | 2,741.37 | 190.30 |
| 2005 | 1 | 1.68% | 2,787.46 | 190.70 |
| 2005 | 2 | -0.26% | 2,780.33 | 191.80 |
| 2005 | 3 | -2.41% | 2,713.35 | 193.30 |
| 2005 | 4 | 1.34% | 2,749.60 | 194.60 |
| 2005 | 5 | 2.18% | 2,809.56 | 194.40 |
| 2005 | 6 | 1.81% | 2,860.35 | 194.50 |
| 2005 | 7 | 0.31% | 2,869.22 | 195.40 |
| 2005 | 8 | 0.28% | 2,877.25 | 196.40 |
| 2005 | 9 | -2.62% | 2,801.74 | 198.80 |
| 2005 | 10 | 3.96% | 2,912.73 | 199.20 |
| 2005 | 11 | 2.14% | 2,975.19 | 197.60 |
| 2005 | 12 | 1.47% | 3,018.82 | 196.80 |
| 2006 | 1 | -0.02% | 3,018.32 | 198.30 |
| 2006 | 2 | 1.49% | 3,063.18 | 198.70 |
| 2006 | 3 | 0.80% | 3,087.63 | 199.80 |
| 2006 | 4 | -0.79% | 3,063.34 | 201.50 |
| 2006 | 5 | -2.71% | 2,980.46 | 202.50 |
| 2006 | 6 | 0.72% | 3,001.92 | 202.90 |
| 2006 | 7 | 2.29% | 3,070.71 | 203.50 |
| 2006 | 8 | 2.53% | 3,148.44 | 203.90 |
| 2006 | 9 | 3.62% | 3,262.28 | 202.90 |
| 2006 | 10 | 2.00% | 3,327.58 | 201.80 |
| 2006 | 11 | 2.15% | 3,399.07 | 201.50 |
| 2006 | 12 | 0.69% | 3,422.62 | 201.80 |
| 2007 | 1 | 1.60% | 3,477.24 | 202.42 |
| 2007 | 2 | -2.47% | 3,391.22 | 203.50 |
| 2007 | 3 | 4.18% | 3,532.98 | 205.35 |
| 2007 | 4 | 3.39% | 3,652.81 | 206.69 |
| 2007 | 5 | 0.34% | 3,665.41 | 207.95 |
| 2007 | 6 | 0.57% | 3,686.47 | 208.35 |
| 2007 | 7 | -4.20% | 3,531.60 | 208.30 |
| 2007 | 8 | 3.07% | 3,640.19 | 207.92 |
| 2007 | 9 | 2.99% | 3,749.09 | 208.49 |
| 2007 | 10 | -4.81% | 3,568.90 | 208.94 |
| 2007 | 11 | 1.24% | 3,613.09 | 210.18 |
| 2007 | 12 | -6.64% | 3,373.35 | 210.04 |
| 2008 | 1 | -1.56% | 3,320.59 | 211.08 |
| 2008 | 2 | -2.63% | 3,233.37 | 211.69 |
| 2008 | 3 | 4.24% | 3,370.59 | 213.53 |
| 2008 | 4 | 2.56% | 3,456.97 | 214.82 |
| 2008 | 5 | -4.25% | 3,310.16 | 216.63 |
| 2008 | 6 | -6.08% | 3,108.96 | 218.82 |
| 2008 | 7 | 2.11% | 3,174.57 | 219.96 |
| 2008 | 8 | -4.85% | 3,020.68 | 219.09 |
| 2008 | 9 | -20.19% | 2,410.70 | 218.78 |
| 2008 | 10 | -8.61% | 2,203.25 | 216.57 |
| 2008 | 11 | -0.35% | 2,195.51 | 212.43 |
| 2008 | 12 | -1.10% | 2,171.46 | 210.23 |
| 2009 | 1 | -6.70% | 2,025.92 | 211.14 |
| 2009 | 2 | -5.69% | 1,910.69 | 212.19 |
| 2009 | 3 | 12.32% | 2,146.13 | 212.71 |
| 2009 | 4 | 6.66% | 2,289.05 | 213.24 |
| 2009 | 5 | 2.87% | 2,354.72 | 213.86 |
| 2009 | 6 | 1.28% | 2,384.81 | 215.69 |
| 2009 | 7 | 8.12% | 2,578.47 | 215.35 |
| 2009 | 8 | 3.65% | 2,672.60 | 215.83 |
| 2009 | 9 | 2.40% | 2,736.82 | 215.97 |
| 2009 | 10 | 2.09% | 2,794.14 | 216.18 |
| 2009 | 11 | 2.23% | 2,856.33 | 216.33 |
| 2009 | 12 | 1.36% | 2,895.09 | 215.95 |
| 2010 | 1 | -2.90% | 2,811.18 | 216.69 |
| 2010 | 2 | 5.94% | 2,978.25 | 216.74 |
| 2010 | 3 | 4.09% | 3,100.00 | 217.63 |
| 2010 | 4 | -5.88% | 2,917.64 | 218.01 |
| 2010 | 5 | -3.54% | 2,814.25 | 218.18 |
| 2010 | 6 | -0.16% | 2,809.78 | 217.97 |
| 2010 | 7 | 0.86% | 2,834.04 | 218.01 |
| 2010 | 8 | 3.37% | 2,929.58 | 218.31 |
| 2010 | 9 | 4.58% | 3,063.68 | 218.44 |
| 2010 | 10 | 2.49% | 3,140.00 | 218.71 |
| 2010 | 11 | 3.71% | 3,256.61 | 218.80 |
| 2010 | 12 | 3.46% | 3,369.36 | 219.18 |
| 2011 | 1 | 3.15% | 3,475.52 | 220.22 |
| 2011 | 2 | -1.11% | 3,436.86 | 221.31 |
| 2011 | 3 | 2.22% | 3,513.19 | 223.47 |
| 2011 | 4 | 0.66% | 3,536.35 | 224.91 |
| 2011 | 5 | -3.66% | 3,406.83 | 225.96 |
| 2011 | 6 | 3.10% | 3,512.50 | 225.72 |
| 2011 | 7 | -10.40% | 3,147.18 | 225.92 |
| 2011 | 8 | -0.79% | 3,122.34 | 226.55 |
| 2011 | 9 | 3.02% | 3,216.60 | 226.89 |
| 2011 | 10 | 1.77% | 3,273.44 | 226.42 |
| 2011 | 11 | 1.55% | 3,324.33 | 226.23 |
| 2011 | 12 | 4.78% | 3,483.32 | 225.67 |
| 2012 | 1 | 4.16% | 3,628.32 | 226.67 |
| 2012 | 2 | 2.88% | 3,732.95 | 227.66 |
| 2012 | 3 | -0.04% | 3,731.53 | 229.39 |
| 2012 | 4 | -3.09% | 3,616.19 | 230.09 |
| 2012 | 5 | -1.15% | 3,574.51 | 229.82 |
| 2012 | 6 | 2.92% | 3,678.93 | 229.48 |
| 2012 | 7 | 3.39% | 3,803.56 | 229.10 |
| 2012 | 8 | 3.02% | 3,918.47 | 230.38 |
| 2012 | 9 | -0.22% | 3,909.96 | 231.41 |
| 2012 | 10 | -2.84% | 3,799.02 | 231.32 |
| 2012 | 11 | 2.18% | 3,881.67 | 230.22 |
| 2012 | 12 | 4.27% | 4,047.37 | 229.60 |
| 2013 | 1 | 2.33% | 4,141.79 | 230.28 |
| 2013 | 2 | 2.72% | 4,254.55 | 232.17 |
| 2013 | 3 | 1.45% | 4,316.40 | 232.77 |
| 2013 | 4 | 4.57% | 4,513.85 | 232.53 |
| 2013 | 5 | -1.12% | 4,463.39 | 232.95 |
| 2013 | 6 | 3.25% | 4,608.65 | 233.50 |
| 2013 | 7 | 0.25% | 4,620.29 | 233.60 |
| 2013 | 8 | 1.19% | 4,675.38 | 233.88 |
| 2013 | 9 | 2.12% | 4,774.39 | 234.15 |
| 2013 | 10 | 3.86% | 4,958.68 | 233.55 |
| 2013 | 11 | 1.52% | 5,034.13 | 233.07 |
| 2013 | 12 | 0.97% | 5,082.85 | 233.05 |
| 2014 | 1 | -0.13% | 5,076.24 | 233.92 |
| 2014 | 2 | 2.72% | 5,214.43 | 234.78 |
| 2014 | 3 | 0.20% | 5,224.95 | 236.29 |
| 2014 | 4 | 1.53% | 5,305.00 | 237.07 |
| 2014 | 5 | 3.20% | 5,474.57 | 237.90 |
| 2014 | 6 | 1.50% | 5,556.45 | 238.34 |
| 2014 | 7 | -0.43% | 5,532.73 | 238.25 |
| 2014 | 8 | 1.78% | 5,631.11 | 237.85 |
| 2014 | 9 | -2.65% | 5,482.07 | 238.03 |
| 2014 | 10 | 5.71% | 5,794.86 | 237.43 |
| 2014 | 11 | 0.63% | 5,831.59 | 236.15 |
| 2014 | 12 | -1.11% | 5,766.86 | 234.81 |
| 2015 | 1 | 2.83% | 5,929.91 | 233.71 |
| 2015 | 2 | 0.06% | 5,933.20 | 234.72 |
| 2015 | 3 | 0.88% | 5,985.31 | 236.12 |
| 2015 | 4 | 0.98% | 6,043.90 | 236.60 |
| 2015 | 5 | -0.44% | 6,017.58 | 237.81 |
| 2015 | 6 | -0.08% | 6,012.79 | 238.64 |
| 2015 | 7 | -2.42% | 5,867.02 | 238.65 |
| 2015 | 8 | -4.51% | 5,602.59 | 238.32 |
| 2015 | 9 | 4.32% | 5,844.46 | 237.95 |
| 2015 | 10 | 2.93% | 6,015.84 | 237.84 |
| 2015 | 11 | -1.10% | 5,949.49 | 237.34 |
| 2015 | 12 | -6.42% | 5,567.55 | 236.53 |
| 2016 | 1 | -0.55% | 5,536.94 | 236.92 |
| 2016 | 2 | 6.36% | 5,889.24 | 237.11 |
| 2016 | 3 | 2.83% | 6,055.98 | 238.13 |
| 2016 | 4 | -0.30% | 6,037.55 | 239.26 |
| 2016 | 5 | 1.07% | 6,101.94 | 240.23 |
| 2016 | 6 | 3.30% | 6,303.14 | 241.02 |
| 2016 | 7 | 1.20% | 6,378.73 | 240.63 |
| 2016 | 8 | -0.44% | 6,350.75 | 240.85 |
| 2016 | 9 | -0.51% | 6,318.62 | 241.43 |
| 2016 | 10 | 1.20% | 6,394.52 | 241.73 |
| 2016 | 11 | 3.95% | 6,646.84 | 241.35 |
| 2016 | 12 | 1.44% | 6,742.40 | 241.43 |
| 2017 | 1 | 2.58% | 6,916.11 | 242.84 |
| 2017 | 2 | 1.75% | 7,037.09 | 243.60 |
| 2017 | 3 | -0.15% | 7,026.26 | 243.80 |
| 2017 | 4 | 1.69% | 7,145.17 | 244.52 |
| 2017 | 5 | 1.78% | 7,272.10 | 244.73 |
| 2017 | 6 | 0.99% | 7,343.94 | 244.96 |
| 2017 | 7 | 0.25% | 7,362.13 | 244.79 |
| 2017 | 8 | 1.65% | 7,483.85 | 245.52 |
| 2017 | 9 | 2.73% | 7,688.52 | 246.82 |
| 2017 | 10 | 1.59% | 7,810.73 | 246.66 |
| 2017 | 11 | 2.88% | 8,035.95 | 246.67 |
| 2017 | 12 | 4.86% | 8,426.65 | 246.52 |
| 2018 | 1 | -2.89% | 8,183.40 | 247.87 |
| 2018 | 2 | 0.06% | 8,188.69 | 248.99 |
| 2018 | 3 | -1.66% | 8,052.43 | 249.55 |
| 2018 | 4 | 1.96% | 8,210.39 | 250.55 |
| 2018 | 5 | 2.11% | 8,383.87 | 251.59 |
| 2018 | 6 | 1.58% | 8,516.40 | 251.99 |
| 2018 | 7 | 2.45% | 8,725.12 | 252.01 |
| 2018 | 8 | 1.68% | 8,871.68 | 252.15 |
| 2018 | 9 | -3.85% | 8,530.21 | 252.44 |
| 2018 | 10 | -2.08% | 8,353.11 | 252.89 |
| 2018 | 11 | -5.56% | 7,888.47 | 252.04 |
| 2018 | 12 | 1.74% | 8,025.38 | 251.23 |
| 2019 | 1 | 5.83% | 8,493.18 | 251.71 |
| 2019 | 2 | 1.95% | 8,658.62 | 252.78 |
| 2019 | 3 | 3.72% | 8,981.00 | 254.20 |
| 2019 | 4 | -1.53% | 8,843.43 | 255.55 |
| 2019 | 5 | 1.40% | 8,967.66 | 256.09 |
| 2019 | 6 | 3.83% | 9,310.89 | 256.14 |
| 2019 | 7 | -3.13% | 9,019.04 | 256.57 |
| 2019 | 8 | 3.09% | 9,297.30 | 256.56 |
| 2019 | 9 | 0.01% | 9,298.21 | 256.76 |
| 2019 | 10 | 4.43% | 9,710.47 | 257.35 |
| 2019 | 11 | 2.47% | 9,950.25 | 257.21 |
| 2019 | 12 | 3.35% | 10,283.23 | 256.97 |
| 2020 | 1 | 0.12% | 10,295.78 | 257.97 |
| 2020 | 2 | -18.92% | 8,348.05 | 258.68 |
| 2020 | 3 | 4.32% | 8,708.57 | 258.12 |
| 2020 | 4 | 5.89% | 9,221.28 | 256.39 |
| 2020 | 5 | 6.51% | 9,821.42 | 256.39 |
| 2020 | 6 | 3.48% | 10,162.86 | 257.80 |
| 2020 | 7 | 5.89% | 10,761.81 | 259.10 |
| 2020 | 8 | -0.63% | 10,694.33 | 259.92 |
| 2020 | 9 | 1.73% | 10,878.92 | 260.28 |
| 2020 | 10 | 3.95% | 11,309.08 | 260.39 |
| 2020 | 11 | 4.26% | 11,790.86 | 260.23 |
| 2020 | 12 | 2.80% | 12,120.45 | 260.47 |
| 2021 | 1 | 2.49% | 12,422.43 | 261.58 |
| 2021 | 2 | 0.82% | 12,524.46 | 263.01 |
| 2021 | 3 | 6.02% | 13,278.62 | 264.88 |
| 2021 | 4 | 0.76% | 13,379.57 | 267.05 |
| 2021 | 5 | 1.81% | 13,621.80 | 269.20 |
| 2021 | 6 | 3.07% | 14,039.74 | 271.70 |
| 2021 | 7 | 2.19% | 14,346.53 | 273.00 |
| 2021 | 8 | -0.08% | 14,334.41 | 273.57 |
| 2021 | 9 | 0.45% | 14,399.23 | 274.31 |
| 2021 | 10 | 4.74% | 15,082.43 | 276.59 |
| 2021 | 11 | 0.27% | 15,122.46 | 277.95 |
| 2021 | 12 | -2.05% | 14,812.16 | 278.80 |
| 2022 | 1 | -2.90% | 14,382.22 | 281.15 |
| 2022 | 2 | -0.89% | 14,253.85 | 283.72 |
| 2022 | 3 | 0.12% | 14,270.71 | 287.50 |
| 2022 | 4 | -7.87% | 13,147.22 | 289.11 |
| 2022 | 5 | -3.37% | 12,704.24 | 292.30 |
| 2022 | 6 | 0.46% | 12,763.27 | 296.31 |
| 2022 | 7 | 6.45% | 13,586.17 | 296.28 |
| 2022 | 8 | -7.28% | 12,597.45 | 296.17 |
| 2022 | 9 | -3.09% | 12,208.04 | 296.81 |
| 2022 | 10 | 5.29% | 12,853.25 | 298.01 |
| 2022 | 11 | 0.01% | 12,854.64 | 297.71 |
| 2022 | 12 | 1.38% | 13,031.58 | 296.80 |
| 2023 | 1 | 3.15% | 13,441.68 | 299.17 |
| 2023 | 2 | -2.59% | 13,094.16 | 300.84 |
| 2023 | 3 | 4.00% | 13,617.43 | 301.84 |
| 2023 | 4 | 0.74% | 13,717.88 | 303.36 |
| 2023 | 5 | 4.94% | 14,395.84 | 304.13 |
| 2023 | 6 | 3.88% | 14,953.83 | 305.11 |
| 2023 | 7 | -1.00% | 14,804.65 | 305.69 |
| 2023 | 8 | -0.95% | 14,663.48 | 307.03 |
| 2023 | 9 | -3.04% | 14,218.10 | 307.79 |
| 2023 | 10 | 4.60% | 14,872.38 | 307.67 |
| 2023 | 11 | 5.18% | 15,642.06 | 307.05 |
| 2023 | 12 | 2.91% | 16,097.53 | 306.75 |
| 2024 | 1 | 4.20% | 16,773.51 | 308.42 |
| 2024 | 2 | 3.28% | 17,324.04 | 310.33 |
| 2024 | 3 | -1.01% | 17,149.21 | 312.33 |
| 2024 | 4 | 2.52% | 17,580.81 | 313.55 |
| 2024 | 5 | 5.34% | 18,520.26 | 314.07 |
Click to show 558 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 1977. This would result in a final amount of $18,904.11, including dividend reinvestments. In this particular case, dollar-cost average returns are greater than the returns of a lump-sum investment (which ends with $18,520.26).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1977 | 1 | 4.16 | 4.05 |
| 1977 | 2 | 4.16 | 8.19 |
| 1977 | 3 | 4.16 | 12.19 |
| 1977 | 4 | 4.16 | 16.34 |
| 1977 | 5 | 4.16 | 20.67 |
| 1977 | 6 | 4.16 | 25.14 |
| 1977 | 7 | 4.16 | 28.67 |
| 1977 | 8 | 4.16 | 32.43 |
| 1977 | 9 | 4.16 | 35.77 |
| 1977 | 10 | 4.16 | 40.30 |
| 1977 | 11 | 4.16 | 44.41 |
| 1977 | 12 | 4.16 | 46.91 |
| 1978 | 1 | 4.16 | 50.55 |
| 1978 | 2 | 4.16 | 54.84 |
| 1978 | 3 | 4.16 | 61.83 |
| 1978 | 4 | 4.16 | 69.61 |
| 1978 | 5 | 4.16 | 74.24 |
| 1978 | 6 | 4.16 | 78.34 |
| 1978 | 7 | 4.16 | 88.53 |
| 1978 | 8 | 4.16 | 93.04 |
| 1978 | 9 | 4.16 | 94.49 |
| 1978 | 10 | 4.16 | 93.27 |
| 1978 | 11 | 4.16 | 99.28 |
| 1978 | 12 | 4.32 | 107.92 |
| 1979 | 1 | - | 106.78 |
| 1979 | 2 | - | 109.28 |
| 1979 | 3 | - | 111.93 |
| 1979 | 4 | - | 109.81 |
| 1979 | 5 | - | 112.47 |
| 1979 | 6 | - | 114.07 |
| 1979 | 7 | - | 119.79 |
| 1979 | 8 | - | 121.63 |
| 1979 | 9 | - | 117.55 |
| 1979 | 10 | - | 117.18 |
| 1979 | 11 | - | 122.34 |
| 1979 | 12 | - | 126.39 |
| 1980 | 1 | - | 131.94 |
| 1980 | 2 | - | 120.36 |
| 1980 | 3 | - | 118.96 |
| 1980 | 4 | - | 124.96 |
| 1980 | 5 | - | 133.53 |
| 1980 | 6 | - | 140.17 |
| 1980 | 7 | - | 145.08 |
| 1980 | 8 | - | 149.19 |
| 1980 | 9 | - | 154.15 |
| 1980 | 10 | - | 161.27 |
| 1980 | 11 | - | 159.26 |
| 1980 | 12 | - | 159.28 |
| 1981 | 1 | - | 154.39 |
| 1981 | 2 | - | 160.78 |
| 1981 | 3 | - | 162.86 |
| 1981 | 4 | - | 160.23 |
| 1981 | 5 | - | 161.60 |
| 1981 | 6 | - | 158.34 |
| 1981 | 7 | - | 159.61 |
| 1981 | 8 | - | 146.36 |
| 1981 | 9 | - | 148.89 |
| 1981 | 10 | - | 153.42 |
| 1981 | 11 | - | 155.23 |
| 1981 | 12 | - | 147.77 |
| 1982 | 1 | - | 144.95 |
| 1982 | 2 | - | 140.97 |
| 1982 | 3 | - | 148.68 |
| 1982 | 4 | - | 149.52 |
| 1982 | 5 | - | 141.64 |
| 1982 | 6 | - | 141.99 |
| 1982 | 7 | - | 143.12 |
| 1982 | 8 | - | 160.43 |
| 1982 | 9 | - | 174.68 |
| 1982 | 10 | - | 182.54 |
| 1982 | 11 | - | 185.01 |
| 1982 | 12 | - | 192.27 |
| 1983 | 1 | - | 196.37 |
| 1983 | 2 | - | 203.96 |
| 1983 | 3 | - | 212.52 |
| 1983 | 4 | - | 221.92 |
| 1983 | 5 | - | 225.82 |
| 1983 | 6 | - | 227.41 |
| 1983 | 7 | - | 221.94 |
| 1983 | 8 | - | 229.29 |
| 1983 | 9 | - | 230.78 |
| 1983 | 10 | - | 228.15 |
| 1983 | 11 | - | 227.85 |
| 1983 | 12 | - | 231.44 |
| 1984 | 1 | - | 219.61 |
| 1984 | 2 | - | 220.58 |
| 1984 | 3 | - | 221.70 |
| 1984 | 4 | - | 221.14 |
| 1984 | 5 | - | 217.06 |
| 1984 | 6 | - | 215.08 |
| 1984 | 7 | - | 234.89 |
| 1984 | 8 | - | 238.19 |
| 1984 | 9 | - | 237.21 |
| 1984 | 10 | - | 240.26 |
| 1984 | 11 | - | 238.56 |
| 1984 | 12 | - | 249.77 |
| 1985 | 1 | - | 264.22 |
| 1985 | 2 | - | 262.96 |
| 1985 | 3 | - | 265.65 |
| 1985 | 4 | - | 272.92 |
| 1985 | 5 | - | 279.77 |
| 1985 | 6 | - | 286.06 |
| 1985 | 7 | - | 280.78 |
| 1985 | 8 | - | 275.49 |
| 1985 | 9 | - | 279.61 |
| 1985 | 10 | - | 297.56 |
| 1985 | 11 | - | 313.31 |
| 1985 | 12 | - | 315.67 |
| 1986 | 1 | - | 333.65 |
| 1986 | 2 | - | 354.28 |
| 1986 | 3 | - | 363.99 |
| 1986 | 4 | - | 365.78 |
| 1986 | 5 | - | 377.25 |
| 1986 | 6 | - | 370.44 |
| 1986 | 7 | - | 378.89 |
| 1986 | 8 | - | 369.58 |
| 1986 | 9 | - | 369.25 |
| 1986 | 10 | - | 382.30 |
| 1986 | 11 | - | 388.83 |
| 1986 | 12 | - | 414.78 |
| 1987 | 1 | - | 441.58 |
| 1987 | 2 | - | 460.90 |
| 1987 | 3 | - | 456.96 |
| 1987 | 4 | - | 457.75 |
| 1987 | 5 | - | 478.34 |
| 1987 | 6 | - | 493.27 |
| 1987 | 7 | - | 525.11 |
| 1987 | 8 | - | 509.20 |
| 1987 | 9 | - | 448.84 |
| 1987 | 10 | - | 393.61 |
| 1987 | 11 | - | 388.36 |
| 1987 | 12 | - | 404.85 |
| 1988 | 1 | - | 418.33 |
| 1988 | 2 | - | 431.85 |
| 1988 | 3 | - | 428.02 |
| 1988 | 4 | - | 418.66 |
| 1988 | 5 | - | 443.77 |
| 1988 | 6 | - | 442.41 |
| 1988 | 7 | - | 434.80 |
| 1988 | 8 | - | 443.18 |
| 1988 | 9 | - | 460.03 |
| 1988 | 10 | - | 450.74 |
| 1988 | 11 | - | 461.22 |
| 1988 | 12 | - | 477.42 |
| 1989 | 1 | - | 493.18 |
| 1989 | 2 | - | 492.38 |
| 1989 | 3 | - | 509.93 |
| 1989 | 4 | - | 530.92 |
| 1989 | 5 | - | 548.93 |
| 1989 | 6 | - | 564.30 |
| 1989 | 7 | - | 590.77 |
| 1989 | 8 | - | 593.46 |
| 1989 | 9 | - | 595.16 |
| 1989 | 10 | - | 584.37 |
| 1989 | 11 | - | 600.36 |
| 1989 | 12 | - | 587.08 |
| 1990 | 1 | - | 572.25 |
| 1990 | 2 | - | 587.74 |
| 1990 | 3 | - | 588.89 |
| 1990 | 4 | - | 611.57 |
| 1990 | 5 | - | 630.95 |
| 1990 | 6 | - | 632.03 |
| 1990 | 7 | - | 582.34 |
| 1990 | 8 | - | 557.06 |
| 1990 | 9 | - | 544.16 |
| 1990 | 10 | - | 560.40 |
| 1990 | 11 | - | 586.10 |
| 1990 | 12 | - | 582.08 |
| 1991 | 1 | - | 649.65 |
| 1991 | 2 | - | 669.43 |
| 1991 | 3 | - | 684.55 |
| 1991 | 4 | - | 683.32 |
| 1991 | 5 | - | 685.69 |
| 1991 | 6 | - | 691.04 |
| 1991 | 7 | - | 709.56 |
| 1991 | 8 | - | 707.41 |
| 1991 | 9 | - | 708.69 |
| 1991 | 10 | - | 708.80 |
| 1991 | 11 | - | 715.43 |
| 1991 | 12 | - | 768.07 |
| 1992 | 1 | - | 763.46 |
| 1992 | 2 | - | 755.73 |
| 1992 | 3 | - | 757.73 |
| 1992 | 4 | - | 773.40 |
| 1992 | 5 | - | 763.12 |
| 1992 | 6 | - | 777.71 |
| 1992 | 7 | - | 785.04 |
| 1992 | 8 | - | 788.00 |
| 1992 | 9 | - | 778.69 |
| 1992 | 10 | - | 800.16 |
| 1992 | 11 | - | 826.33 |
| 1992 | 12 | - | 827.51 |
| 1993 | 1 | - | 841.78 |
| 1993 | 2 | - | 859.88 |
| 1993 | 3 | - | 848.34 |
| 1993 | 4 | - | 854.49 |
| 1993 | 5 | - | 861.88 |
| 1993 | 6 | - | 862.41 |
| 1993 | 7 | - | 877.61 |
| 1993 | 8 | - | 889.50 |
| 1993 | 9 | - | 900.55 |
| 1993 | 10 | - | 900.62 |
| 1993 | 11 | - | 908.61 |
| 1993 | 12 | - | 924.38 |
| 1994 | 1 | - | 923.68 |
| 1994 | 2 | - | 910.53 |
| 1994 | 3 | - | 880.06 |
| 1994 | 4 | - | 889.37 |
| 1994 | 5 | - | 899.23 |
| 1994 | 6 | - | 894.56 |
| 1994 | 7 | - | 922.13 |
| 1994 | 8 | - | 929.67 |
| 1994 | 9 | - | 925.54 |
| 1994 | 10 | - | 922.12 |
| 1994 | 11 | - | 912.66 |
| 1994 | 12 | - | 935.03 |
| 1995 | 1 | - | 970.74 |
| 1995 | 2 | - | 995.57 |
| 1995 | 3 | - | 1,027.59 |
| 1995 | 4 | - | 1,061.99 |
| 1995 | 5 | - | 1,095.74 |
| 1995 | 6 | - | 1,134.61 |
| 1995 | 7 | - | 1,140.44 |
| 1995 | 8 | - | 1,182.83 |
| 1995 | 9 | - | 1,193.63 |
| 1995 | 10 | - | 1,221.78 |
| 1995 | 11 | - | 1,263.19 |
| 1995 | 12 | - | 1,265.24 |
| 1996 | 1 | - | 1,339.94 |
| 1996 | 2 | - | 1,337.25 |
| 1996 | 3 | - | 1,339.89 |
| 1996 | 4 | - | 1,371.44 |
| 1996 | 5 | - | 1,388.98 |
| 1996 | 6 | - | 1,340.69 |
| 1996 | 7 | - | 1,381.92 |
| 1996 | 8 | - | 1,409.89 |
| 1996 | 9 | - | 1,467.97 |
| 1996 | 10 | - | 1,542.13 |
| 1996 | 11 | - | 1,560.61 |
| 1996 | 12 | - | 1,611.45 |
| 1997 | 1 | - | 1,681.73 |
| 1997 | 2 | - | 1,671.24 |
| 1997 | 3 | - | 1,614.33 |
| 1997 | 4 | - | 1,763.14 |
| 1997 | 5 | - | 1,857.23 |
| 1997 | 6 | - | 1,963.76 |
| 1997 | 7 | - | 1,970.59 |
| 1997 | 8 | - | 1,994.08 |
| 1997 | 9 | - | 2,026.89 |
| 1997 | 10 | - | 2,003.54 |
| 1997 | 11 | - | 2,056.33 |
| 1997 | 12 | - | 2,061.20 |
| 1998 | 1 | - | 2,193.16 |
| 1998 | 2 | - | 2,309.68 |
| 1998 | 3 | - | 2,388.34 |
| 1998 | 4 | - | 2,383.04 |
| 1998 | 5 | - | 2,385.82 |
| 1998 | 6 | - | 2,492.41 |
| 1998 | 7 | - | 2,318.66 |
| 1998 | 8 | - | 2,205.08 |
| 1998 | 9 | - | 2,233.55 |
| 1998 | 10 | - | 2,478.67 |
| 1998 | 11 | - | 2,580.39 |
| 1998 | 12 | - | 2,710.64 |
| 1999 | 1 | - | 2,708.84 |
| 1999 | 2 | - | 2,788.03 |
| 1999 | 3 | - | 2,906.52 |
| 1999 | 4 | - | 2,903.65 |
| 1999 | 5 | - | 2,885.88 |
| 1999 | 6 | - | 3,016.40 |
| 1999 | 7 | - | 2,902.55 |
| 1999 | 8 | - | 2,885.19 |
| 1999 | 9 | - | 2,848.47 |
| 1999 | 10 | - | 3,050.89 |
| 1999 | 11 | - | 3,136.58 |
| 1999 | 12 | - | 3,132.85 |
| 2000 | 1 | - | 3,055.21 |
| 2000 | 2 | - | 3,175.62 |
| 2000 | 3 | - | 3,220.86 |
| 2000 | 4 | - | 3,129.42 |
| 2000 | 5 | - | 3,228.42 |
| 2000 | 6 | - | 3,255.88 |
| 2000 | 7 | - | 3,286.47 |
| 2000 | 8 | - | 3,250.99 |
| 2000 | 9 | - | 3,081.48 |
| 2000 | 10 | - | 3,057.67 |
| 2000 | 11 | - | 2,956.15 |
| 2000 | 12 | - | 2,969.60 |
| 2001 | 1 | - | 2,906.16 |
| 2001 | 2 | - | 2,642.29 |
| 2001 | 3 | - | 2,654.14 |
| 2001 | 4 | - | 2,836.73 |
| 2001 | 5 | - | 2,768.97 |
| 2001 | 6 | - | 2,695.31 |
| 2001 | 7 | - | 2,640.17 |
| 2001 | 8 | - | 2,343.22 |
| 2001 | 9 | - | 2,417.83 |
| 2001 | 10 | - | 2,540.01 |
| 2001 | 11 | - | 2,577.24 |
| 2001 | 12 | - | 2,569.57 |
| 2002 | 1 | - | 2,483.42 |
| 2002 | 2 | - | 2,606.23 |
| 2002 | 3 | - | 2,514.64 |
| 2002 | 4 | - | 2,443.71 |
| 2002 | 5 | - | 2,299.02 |
| 2002 | 6 | - | 2,051.68 |
| 2002 | 7 | - | 2,075.05 |
| 2002 | 8 | - | 1,976.32 |
| 2002 | 9 | - | 1,949.30 |
| 2002 | 10 | - | 2,078.46 |
| 2002 | 11 | - | 2,056.94 |
| 2002 | 12 | - | 2,052.37 |
| 2003 | 1 | - | 1,920.71 |
| 2003 | 2 | - | 1,945.83 |
| 2003 | 3 | - | 2,048.69 |
| 2003 | 4 | - | 2,157.52 |
| 2003 | 5 | - | 2,280.59 |
| 2003 | 6 | - | 2,294.18 |
| 2003 | 7 | - | 2,290.36 |
| 2003 | 8 | - | 2,362.76 |
| 2003 | 9 | - | 2,410.67 |
| 2003 | 10 | - | 2,439.86 |
| 2003 | 11 | - | 2,514.61 |
| 2003 | 12 | - | 2,638.71 |
| 2004 | 1 | - | 2,667.38 |
| 2004 | 2 | - | 2,625.63 |
| 2004 | 3 | - | 2,651.05 |
| 2004 | 4 | - | 2,583.07 |
| 2004 | 5 | - | 2,656.89 |
| 2004 | 6 | - | 2,597.40 |
| 2004 | 7 | - | 2,561.36 |
| 2004 | 8 | - | 2,632.64 |
| 2004 | 9 | - | 2,635.34 |
| 2004 | 10 | - | 2,761.15 |
| 2004 | 11 | - | 2,836.45 |
| 2004 | 12 | - | 2,798.18 |
| 2005 | 1 | - | 2,845.23 |
| 2005 | 2 | - | 2,837.96 |
| 2005 | 3 | - | 2,769.59 |
| 2005 | 4 | - | 2,806.59 |
| 2005 | 5 | - | 2,867.79 |
| 2005 | 6 | - | 2,919.64 |
| 2005 | 7 | - | 2,928.69 |
| 2005 | 8 | - | 2,936.88 |
| 2005 | 9 | - | 2,859.81 |
| 2005 | 10 | - | 2,973.10 |
| 2005 | 11 | - | 3,036.85 |
| 2005 | 12 | - | 3,081.39 |
| 2006 | 1 | - | 3,080.88 |
| 2006 | 2 | - | 3,126.67 |
| 2006 | 3 | - | 3,151.63 |
| 2006 | 4 | - | 3,126.84 |
| 2006 | 5 | - | 3,042.23 |
| 2006 | 6 | - | 3,064.13 |
| 2006 | 7 | - | 3,134.36 |
| 2006 | 8 | - | 3,213.69 |
| 2006 | 9 | - | 3,329.90 |
| 2006 | 10 | - | 3,396.55 |
| 2006 | 11 | - | 3,469.52 |
| 2006 | 12 | - | 3,493.56 |
| 2007 | 1 | - | 3,549.31 |
| 2007 | 2 | - | 3,461.51 |
| 2007 | 3 | - | 3,606.21 |
| 2007 | 4 | - | 3,728.52 |
| 2007 | 5 | - | 3,741.38 |
| 2007 | 6 | - | 3,762.88 |
| 2007 | 7 | - | 3,604.80 |
| 2007 | 8 | - | 3,715.64 |
| 2007 | 9 | - | 3,826.79 |
| 2007 | 10 | - | 3,642.87 |
| 2007 | 11 | - | 3,687.97 |
| 2007 | 12 | - | 3,443.27 |
| 2008 | 1 | - | 3,389.42 |
| 2008 | 2 | - | 3,300.39 |
| 2008 | 3 | - | 3,440.45 |
| 2008 | 4 | - | 3,528.62 |
| 2008 | 5 | - | 3,378.77 |
| 2008 | 6 | - | 3,173.39 |
| 2008 | 7 | - | 3,240.37 |
| 2008 | 8 | - | 3,083.29 |
| 2008 | 9 | - | 2,460.66 |
| 2008 | 10 | - | 2,248.92 |
| 2008 | 11 | - | 2,241.02 |
| 2008 | 12 | - | 2,216.46 |
| 2009 | 1 | - | 2,067.91 |
| 2009 | 2 | - | 1,950.30 |
| 2009 | 3 | - | 2,190.61 |
| 2009 | 4 | - | 2,336.50 |
| 2009 | 5 | - | 2,403.53 |
| 2009 | 6 | - | 2,434.24 |
| 2009 | 7 | - | 2,631.91 |
| 2009 | 8 | - | 2,727.99 |
| 2009 | 9 | - | 2,793.54 |
| 2009 | 10 | - | 2,852.05 |
| 2009 | 11 | - | 2,915.53 |
| 2009 | 12 | - | 2,955.10 |
| 2010 | 1 | - | 2,869.44 |
| 2010 | 2 | - | 3,039.97 |
| 2010 | 3 | - | 3,164.25 |
| 2010 | 4 | - | 2,978.11 |
| 2010 | 5 | - | 2,872.58 |
| 2010 | 6 | - | 2,868.01 |
| 2010 | 7 | - | 2,892.78 |
| 2010 | 8 | - | 2,990.30 |
| 2010 | 9 | - | 3,127.18 |
| 2010 | 10 | - | 3,205.08 |
| 2010 | 11 | - | 3,324.10 |
| 2010 | 12 | - | 3,439.19 |
| 2011 | 1 | - | 3,547.55 |
| 2011 | 2 | - | 3,508.09 |
| 2011 | 3 | - | 3,586.00 |
| 2011 | 4 | - | 3,609.64 |
| 2011 | 5 | - | 3,477.44 |
| 2011 | 6 | - | 3,585.30 |
| 2011 | 7 | - | 3,212.40 |
| 2011 | 8 | - | 3,187.05 |
| 2011 | 9 | - | 3,283.26 |
| 2011 | 10 | - | 3,341.28 |
| 2011 | 11 | - | 3,393.23 |
| 2011 | 12 | - | 3,555.52 |
| 2012 | 1 | - | 3,703.52 |
| 2012 | 2 | - | 3,810.32 |
| 2012 | 3 | - | 3,808.86 |
| 2012 | 4 | - | 3,691.13 |
| 2012 | 5 | - | 3,648.60 |
| 2012 | 6 | - | 3,755.18 |
| 2012 | 7 | - | 3,882.39 |
| 2012 | 8 | - | 3,999.68 |
| 2012 | 9 | - | 3,991.00 |
| 2012 | 10 | - | 3,877.75 |
| 2012 | 11 | - | 3,962.12 |
| 2012 | 12 | - | 4,131.25 |
| 2013 | 1 | - | 4,227.63 |
| 2013 | 2 | - | 4,342.73 |
| 2013 | 3 | - | 4,405.86 |
| 2013 | 4 | - | 4,607.40 |
| 2013 | 5 | - | 4,555.90 |
| 2013 | 6 | - | 4,704.17 |
| 2013 | 7 | - | 4,716.05 |
| 2013 | 8 | - | 4,772.29 |
| 2013 | 9 | - | 4,873.34 |
| 2013 | 10 | - | 5,061.45 |
| 2013 | 11 | - | 5,138.47 |
| 2013 | 12 | - | 5,188.20 |
| 2014 | 1 | - | 5,181.45 |
| 2014 | 2 | - | 5,322.51 |
| 2014 | 3 | - | 5,333.24 |
| 2014 | 4 | - | 5,414.95 |
| 2014 | 5 | - | 5,588.03 |
| 2014 | 6 | - | 5,671.62 |
| 2014 | 7 | - | 5,647.40 |
| 2014 | 8 | - | 5,747.82 |
| 2014 | 9 | - | 5,595.69 |
| 2014 | 10 | - | 5,914.97 |
| 2014 | 11 | - | 5,952.46 |
| 2014 | 12 | - | 5,886.38 |
| 2015 | 1 | - | 6,052.82 |
| 2015 | 2 | - | 6,056.17 |
| 2015 | 3 | - | 6,109.36 |
| 2015 | 4 | - | 6,169.17 |
| 2015 | 5 | - | 6,142.30 |
| 2015 | 6 | - | 6,137.41 |
| 2015 | 7 | - | 5,988.62 |
| 2015 | 8 | - | 5,718.70 |
| 2015 | 9 | - | 5,965.59 |
| 2015 | 10 | - | 6,140.53 |
| 2015 | 11 | - | 6,072.80 |
| 2015 | 12 | - | 5,682.95 |
| 2016 | 1 | - | 5,651.70 |
| 2016 | 2 | - | 6,011.30 |
| 2016 | 3 | - | 6,181.49 |
| 2016 | 4 | - | 6,162.68 |
| 2016 | 5 | - | 6,228.40 |
| 2016 | 6 | - | 6,433.78 |
| 2016 | 7 | - | 6,510.94 |
| 2016 | 8 | - | 6,482.38 |
| 2016 | 9 | - | 6,449.58 |
| 2016 | 10 | - | 6,527.05 |
| 2016 | 11 | - | 6,784.60 |
| 2016 | 12 | - | 6,882.14 |
| 2017 | 1 | - | 7,059.46 |
| 2017 | 2 | - | 7,182.94 |
| 2017 | 3 | - | 7,171.88 |
| 2017 | 4 | - | 7,293.26 |
| 2017 | 5 | - | 7,422.82 |
| 2017 | 6 | - | 7,496.14 |
| 2017 | 7 | - | 7,514.72 |
| 2017 | 8 | - | 7,638.96 |
| 2017 | 9 | - | 7,847.87 |
| 2017 | 10 | - | 7,972.62 |
| 2017 | 11 | - | 8,202.51 |
| 2017 | 12 | - | 8,601.30 |
| 2018 | 1 | - | 8,353.01 |
| 2018 | 2 | - | 8,358.40 |
| 2018 | 3 | - | 8,219.32 |
| 2018 | 4 | - | 8,380.55 |
| 2018 | 5 | - | 8,557.63 |
| 2018 | 6 | - | 8,692.91 |
| 2018 | 7 | - | 8,905.95 |
| 2018 | 8 | - | 9,055.55 |
| 2018 | 9 | - | 8,707.00 |
| 2018 | 10 | - | 8,526.24 |
| 2018 | 11 | - | 8,051.96 |
| 2018 | 12 | - | 8,191.72 |
| 2019 | 1 | - | 8,669.20 |
| 2019 | 2 | - | 8,838.08 |
| 2019 | 3 | - | 9,167.14 |
| 2019 | 4 | - | 9,026.72 |
| 2019 | 5 | - | 9,153.53 |
| 2019 | 6 | - | 9,503.86 |
| 2019 | 7 | - | 9,205.97 |
| 2019 | 8 | - | 9,490.00 |
| 2019 | 9 | - | 9,490.93 |
| 2019 | 10 | - | 9,911.73 |
| 2019 | 11 | - | 10,156.48 |
| 2019 | 12 | - | 10,496.35 |
| 2020 | 1 | - | 10,509.17 |
| 2020 | 2 | - | 8,521.07 |
| 2020 | 3 | - | 8,889.07 |
| 2020 | 4 | - | 9,412.40 |
| 2020 | 5 | - | 10,024.98 |
| 2020 | 6 | - | 10,373.49 |
| 2020 | 7 | - | 10,984.86 |
| 2020 | 8 | - | 10,915.98 |
| 2020 | 9 | - | 11,104.39 |
| 2020 | 10 | - | 11,543.47 |
| 2020 | 11 | - | 12,035.23 |
| 2020 | 12 | - | 12,371.65 |
| 2021 | 1 | - | 12,679.90 |
| 2021 | 2 | - | 12,784.04 |
| 2021 | 3 | - | 13,553.83 |
| 2021 | 4 | - | 13,656.87 |
| 2021 | 5 | - | 13,904.12 |
| 2021 | 6 | - | 14,330.73 |
| 2021 | 7 | - | 14,643.88 |
| 2021 | 8 | - | 14,631.50 |
| 2021 | 9 | - | 14,697.66 |
| 2021 | 10 | - | 15,395.03 |
| 2021 | 11 | - | 15,435.89 |
| 2021 | 12 | - | 15,119.15 |
| 2022 | 1 | - | 14,680.31 |
| 2022 | 2 | - | 14,549.27 |
| 2022 | 3 | - | 14,566.49 |
| 2022 | 4 | - | 13,419.71 |
| 2022 | 5 | - | 12,967.54 |
| 2022 | 6 | - | 13,027.80 |
| 2022 | 7 | - | 13,867.76 |
| 2022 | 8 | - | 12,858.54 |
| 2022 | 9 | - | 12,461.06 |
| 2022 | 10 | - | 13,119.64 |
| 2022 | 11 | - | 13,121.06 |
| 2022 | 12 | - | 13,301.67 |
| 2023 | 1 | - | 13,720.27 |
| 2023 | 2 | - | 13,365.54 |
| 2023 | 3 | - | 13,899.66 |
| 2023 | 4 | - | 14,002.20 |
| 2023 | 5 | - | 14,694.21 |
| 2023 | 6 | - | 15,263.77 |
| 2023 | 7 | - | 15,111.49 |
| 2023 | 8 | - | 14,967.39 |
| 2023 | 9 | - | 14,512.78 |
| 2023 | 10 | - | 15,180.62 |
| 2023 | 11 | - | 15,966.25 |
| 2023 | 12 | - | 16,431.17 |
| 2024 | 1 | - | 17,121.16 |
| 2024 | 2 | - | 17,683.09 |
| 2024 | 3 | - | 17,504.65 |
| 2024 | 4 | - | 17,945.19 |
| 2024 | 5 | - | 18,904.11 |
Click to show 558 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.
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.
| Start Value Average monthly close | $103.80 |
| End Value Average monthly close | $5,509.01 |
| Change in price | +5,207.33% +8.82% / yr |
| Change incl. dividends | +18,420.26% +11.64% / yr |
| Change incl. dividends, inflation-adjusted | +3,455.45% +7.82% / yr |
| Final amount, nominal ($100 base) | $18,520.26 |
| Final amount, inflation-adjusted ($100 base) | $3,555.45 |