Stock market returns between 1978 and 2021
If you invested $1000 in the S&P 500 at the beginning of 1978, you would have about $162,843.81 at the end of 2021, assuming you reinvested all dividends. This is a return on investment of 16,184.38%, or 12.27% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,818.30% cumulatively, or 8.69% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $140,718.32.
The graph below shows the performance of $1000 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 $1000 is $161,843.81, or 16,184.38%. This means by 2021 you would have $162,843.81 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 1978 was 65.200 and the CPI in 2021 was 270.970.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 43 years.
Adjusted for inflation, the $162,843.81 nominal end value of the original $1000 investment would have a real return of roughly $38,182.97 in 1978 dollars. This means the inflation-adjusted return is 3,818.30% as opposed to the original 16,184.38%.
For more information on inflation, see our U.S. inflation calculator for 1978.
Full monthly data
The table below shows the full dataset pertaining to a $1000 investment, including gains and losses over the 528-month period between 1978 and 2021.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1978 | 1 | -0.97% | 990.28 | 62.50 |
| 1978 | 2 | 0.27% | 992.91 | 62.90 |
| 1978 | 3 | 4.83% | 1,040.87 | 63.40 |
| 1978 | 4 | 5.50% | 1,098.16 | 63.90 |
| 1978 | 5 | 0.67% | 1,105.56 | 64.50 |
| 1978 | 6 | -0.06% | 1,104.87 | 65.20 |
| 1978 | 7 | 7.33% | 1,185.84 | 65.70 |
| 1978 | 8 | 0.40% | 1,190.58 | 66.00 |
| 1978 | 9 | -2.77% | 1,157.55 | 66.50 |
| 1978 | 10 | -5.44% | 1,094.61 | 67.10 |
| 1978 | 11 | 1.92% | 1,115.66 | 67.40 |
| 1978 | 12 | 4.19% | 1,162.35 | 67.70 |
| 1979 | 1 | -1.06% | 1,150.07 | 68.30 |
| 1979 | 2 | 2.34% | 1,176.99 | 69.10 |
| 1979 | 3 | 2.43% | 1,205.60 | 69.80 |
| 1979 | 4 | -1.89% | 1,182.78 | 70.60 |
| 1979 | 5 | 2.42% | 1,211.38 | 71.50 |
| 1979 | 6 | 1.42% | 1,228.59 | 72.30 |
| 1979 | 7 | 5.01% | 1,290.19 | 73.10 |
| 1979 | 8 | 1.54% | 1,310.07 | 73.80 |
| 1979 | 9 | -3.35% | 1,266.15 | 74.60 |
| 1979 | 10 | -0.32% | 1,262.07 | 75.20 |
| 1979 | 11 | 4.40% | 1,317.65 | 75.90 |
| 1979 | 12 | 3.31% | 1,361.29 | 76.70 |
| 1980 | 1 | 4.40% | 1,421.13 | 77.80 |
| 1980 | 2 | -8.78% | 1,296.39 | 78.90 |
| 1980 | 3 | -1.16% | 1,281.32 | 80.10 |
| 1980 | 4 | 5.04% | 1,345.85 | 81.00 |
| 1980 | 5 | 6.86% | 1,438.22 | 81.80 |
| 1980 | 6 | 4.97% | 1,509.69 | 82.70 |
| 1980 | 7 | 3.50% | 1,562.60 | 82.70 |
| 1980 | 8 | 2.84% | 1,606.91 | 83.30 |
| 1980 | 9 | 3.32% | 1,660.33 | 84.00 |
| 1980 | 10 | 4.61% | 1,736.95 | 84.80 |
| 1980 | 11 | -1.24% | 1,715.33 | 85.50 |
| 1980 | 12 | 0.01% | 1,715.50 | 86.30 |
| 1981 | 1 | -3.07% | 1,662.84 | 87.00 |
| 1981 | 2 | 4.14% | 1,731.73 | 87.90 |
| 1981 | 3 | 1.29% | 1,754.14 | 88.50 |
| 1981 | 4 | -1.62% | 1,725.77 | 89.10 |
| 1981 | 5 | 0.86% | 1,740.57 | 89.80 |
| 1981 | 6 | -2.02% | 1,705.47 | 90.60 |
| 1981 | 7 | 0.80% | 1,719.16 | 91.60 |
| 1981 | 8 | -8.30% | 1,576.42 | 92.30 |
| 1981 | 9 | 1.73% | 1,603.65 | 93.20 |
| 1981 | 10 | 3.04% | 1,652.46 | 93.40 |
| 1981 | 11 | 1.18% | 1,671.95 | 93.70 |
| 1981 | 12 | -4.80% | 1,591.63 | 94.00 |
| 1982 | 1 | -1.91% | 1,561.17 | 94.30 |
| 1982 | 2 | -2.74% | 1,518.32 | 94.60 |
| 1982 | 3 | 5.47% | 1,601.36 | 94.50 |
| 1982 | 4 | 0.57% | 1,610.48 | 94.90 |
| 1982 | 5 | -5.27% | 1,525.60 | 95.80 |
| 1982 | 6 | 0.24% | 1,529.32 | 97.00 |
| 1982 | 7 | 0.79% | 1,541.46 | 97.50 |
| 1982 | 8 | 12.10% | 1,727.93 | 97.70 |
| 1982 | 9 | 8.88% | 1,881.39 | 97.90 |
| 1982 | 10 | 4.50% | 1,966.05 | 98.20 |
| 1982 | 11 | 1.36% | 1,992.70 | 98.00 |
| 1982 | 12 | 3.93% | 2,070.93 | 97.60 |
| 1983 | 1 | 2.13% | 2,115.04 | 97.80 |
| 1983 | 2 | 3.87% | 2,196.80 | 97.90 |
| 1983 | 3 | 4.20% | 2,289.01 | 97.90 |
| 1983 | 4 | 4.42% | 2,390.27 | 98.60 |
| 1983 | 5 | 1.75% | 2,432.19 | 99.20 |
| 1983 | 6 | 0.71% | 2,449.41 | 99.50 |
| 1983 | 7 | -2.41% | 2,390.45 | 99.90 |
| 1983 | 8 | 3.31% | 2,469.66 | 100.20 |
| 1983 | 9 | 0.65% | 2,485.67 | 100.70 |
| 1983 | 10 | -1.14% | 2,457.29 | 101.00 |
| 1983 | 11 | -0.13% | 2,454.15 | 101.20 |
| 1983 | 12 | 1.58% | 2,492.82 | 101.30 |
| 1984 | 1 | -5.11% | 2,365.38 | 101.90 |
| 1984 | 2 | 0.44% | 2,375.85 | 102.40 |
| 1984 | 3 | 0.51% | 2,387.90 | 102.60 |
| 1984 | 4 | -0.25% | 2,381.87 | 103.10 |
| 1984 | 5 | -1.85% | 2,337.84 | 103.40 |
| 1984 | 6 | -0.91% | 2,316.60 | 103.70 |
| 1984 | 7 | 9.21% | 2,529.88 | 104.10 |
| 1984 | 8 | 1.41% | 2,565.48 | 104.50 |
| 1984 | 9 | -0.41% | 2,554.90 | 105.00 |
| 1984 | 10 | 1.29% | 2,587.75 | 105.30 |
| 1984 | 11 | -0.71% | 2,569.44 | 105.30 |
| 1984 | 12 | 4.70% | 2,690.14 | 105.30 |
| 1985 | 1 | 5.79% | 2,845.83 | 105.50 |
| 1985 | 2 | -0.48% | 2,832.22 | 106.00 |
| 1985 | 3 | 1.02% | 2,861.24 | 106.40 |
| 1985 | 4 | 2.74% | 2,939.51 | 106.90 |
| 1985 | 5 | 2.51% | 3,013.33 | 107.30 |
| 1985 | 6 | 2.25% | 3,081.04 | 107.60 |
| 1985 | 7 | -1.85% | 3,024.19 | 107.80 |
| 1985 | 8 | -1.88% | 2,967.18 | 108.00 |
| 1985 | 9 | 1.50% | 3,011.56 | 108.30 |
| 1985 | 10 | 6.42% | 3,204.91 | 108.70 |
| 1985 | 11 | 5.29% | 3,374.60 | 109.00 |
| 1985 | 12 | 0.75% | 3,399.97 | 109.30 |
| 1986 | 1 | 5.70% | 3,593.67 | 109.60 |
| 1986 | 2 | 6.18% | 3,815.86 | 109.30 |
| 1986 | 3 | 2.74% | 3,920.47 | 108.80 |
| 1986 | 4 | 0.49% | 3,939.75 | 108.60 |
| 1986 | 5 | 3.13% | 4,063.19 | 108.90 |
| 1986 | 6 | -1.80% | 3,989.90 | 109.50 |
| 1986 | 7 | 2.28% | 4,080.90 | 109.50 |
| 1986 | 8 | -2.46% | 3,980.66 | 109.70 |
| 1986 | 9 | -0.09% | 3,977.09 | 110.20 |
| 1986 | 10 | 3.53% | 4,117.59 | 110.30 |
| 1986 | 11 | 1.71% | 4,187.96 | 110.40 |
| 1986 | 12 | 6.67% | 4,467.44 | 110.50 |
| 1987 | 1 | 6.46% | 4,756.12 | 111.20 |
| 1987 | 2 | 4.38% | 4,964.27 | 111.60 |
| 1987 | 3 | -0.86% | 4,921.75 | 112.10 |
| 1987 | 4 | 0.17% | 4,930.26 | 112.70 |
| 1987 | 5 | 4.50% | 5,152.04 | 113.10 |
| 1987 | 6 | 3.12% | 5,312.90 | 113.50 |
| 1987 | 7 | 6.45% | 5,655.79 | 113.80 |
| 1987 | 8 | -3.03% | 5,484.40 | 114.40 |
| 1987 | 9 | -11.85% | 4,834.28 | 115.00 |
| 1987 | 10 | -12.30% | 4,239.50 | 115.30 |
| 1987 | 11 | -1.33% | 4,182.92 | 115.40 |
| 1987 | 12 | 4.25% | 4,360.55 | 115.40 |
| 1988 | 1 | 3.33% | 4,505.69 | 115.70 |
| 1988 | 2 | 3.23% | 4,651.32 | 116.00 |
| 1988 | 3 | -0.89% | 4,610.10 | 116.50 |
| 1988 | 4 | -2.19% | 4,509.22 | 117.10 |
| 1988 | 5 | 6.00% | 4,779.69 | 117.50 |
| 1988 | 6 | -0.31% | 4,765.02 | 118.00 |
| 1988 | 7 | -1.72% | 4,683.14 | 118.50 |
| 1988 | 8 | 1.93% | 4,773.39 | 119.00 |
| 1988 | 9 | 3.80% | 4,954.86 | 119.80 |
| 1988 | 10 | -2.02% | 4,854.76 | 120.20 |
| 1988 | 11 | 2.33% | 4,967.68 | 120.30 |
| 1988 | 12 | 3.51% | 5,142.17 | 120.50 |
| 1989 | 1 | 3.30% | 5,311.86 | 121.10 |
| 1989 | 2 | -0.16% | 5,303.27 | 121.60 |
| 1989 | 3 | 3.56% | 5,492.32 | 122.30 |
| 1989 | 4 | 4.12% | 5,718.35 | 123.10 |
| 1989 | 5 | 3.39% | 5,912.35 | 123.80 |
| 1989 | 6 | 2.80% | 6,077.90 | 124.10 |
| 1989 | 7 | 4.69% | 6,363.00 | 124.40 |
| 1989 | 8 | 0.46% | 6,391.99 | 124.60 |
| 1989 | 9 | 0.29% | 6,410.29 | 125.00 |
| 1989 | 10 | -1.81% | 6,294.03 | 125.60 |
| 1989 | 11 | 2.74% | 6,466.28 | 125.90 |
| 1989 | 12 | -2.21% | 6,323.30 | 126.10 |
| 1990 | 1 | -2.53% | 6,163.50 | 127.40 |
| 1990 | 2 | 2.71% | 6,330.35 | 128.00 |
| 1990 | 3 | 0.20% | 6,342.76 | 128.70 |
| 1990 | 4 | 3.85% | 6,587.01 | 128.90 |
| 1990 | 5 | 3.17% | 6,795.82 | 129.20 |
| 1990 | 6 | 0.17% | 6,807.35 | 129.90 |
| 1990 | 7 | -7.86% | 6,272.21 | 130.40 |
| 1990 | 8 | -4.34% | 5,999.93 | 131.60 |
| 1990 | 9 | -2.32% | 5,860.99 | 132.70 |
| 1990 | 10 | 2.98% | 6,035.87 | 133.50 |
| 1990 | 11 | 4.59% | 6,312.71 | 133.80 |
| 1990 | 12 | -0.69% | 6,269.46 | 133.80 |
| 1991 | 1 | 11.61% | 6,997.14 | 134.60 |
| 1991 | 2 | 3.04% | 7,210.18 | 134.80 |
| 1991 | 3 | 2.26% | 7,373.04 | 135.00 |
| 1991 | 4 | -0.18% | 7,359.85 | 135.20 |
| 1991 | 5 | 0.35% | 7,385.39 | 135.60 |
| 1991 | 6 | 0.78% | 7,443.03 | 136.00 |
| 1991 | 7 | 2.68% | 7,642.43 | 136.20 |
| 1991 | 8 | -0.30% | 7,619.26 | 136.60 |
| 1991 | 9 | 0.18% | 7,633.10 | 137.20 |
| 1991 | 10 | 0.02% | 7,634.31 | 137.40 |
| 1991 | 11 | 0.94% | 7,705.70 | 137.80 |
| 1991 | 12 | 7.36% | 8,272.69 | 137.90 |
| 1992 | 1 | -0.60% | 8,222.98 | 138.10 |
| 1992 | 2 | -1.01% | 8,139.73 | 138.60 |
| 1992 | 3 | 0.26% | 8,161.25 | 139.30 |
| 1992 | 4 | 2.07% | 8,330.05 | 139.50 |
| 1992 | 5 | -1.33% | 8,219.33 | 139.70 |
| 1992 | 6 | 1.91% | 8,376.50 | 140.20 |
| 1992 | 7 | 0.94% | 8,455.38 | 140.50 |
| 1992 | 8 | 0.38% | 8,487.36 | 140.90 |
| 1992 | 9 | -1.18% | 8,387.03 | 141.30 |
| 1992 | 10 | 2.76% | 8,618.26 | 141.80 |
| 1992 | 11 | 3.27% | 8,900.18 | 142.00 |
| 1992 | 12 | 0.14% | 8,912.89 | 141.90 |
| 1993 | 1 | 1.72% | 9,066.57 | 142.60 |
| 1993 | 2 | 2.15% | 9,261.52 | 143.10 |
| 1993 | 3 | -1.34% | 9,137.25 | 143.60 |
| 1993 | 4 | 0.72% | 9,203.47 | 144.00 |
| 1993 | 5 | 0.87% | 9,283.10 | 144.20 |
| 1993 | 6 | 0.06% | 9,288.76 | 144.40 |
| 1993 | 7 | 1.76% | 9,452.47 | 144.40 |
| 1993 | 8 | 1.35% | 9,580.55 | 144.80 |
| 1993 | 9 | 1.24% | 9,699.53 | 145.10 |
| 1993 | 10 | 0.01% | 9,700.27 | 145.70 |
| 1993 | 11 | 0.89% | 9,786.33 | 145.80 |
| 1993 | 12 | 1.74% | 9,956.20 | 145.80 |
| 1994 | 1 | -0.08% | 9,948.67 | 146.20 |
| 1994 | 2 | -1.42% | 9,807.02 | 146.70 |
| 1994 | 3 | -3.35% | 9,478.84 | 147.20 |
| 1994 | 4 | 1.06% | 9,579.15 | 147.40 |
| 1994 | 5 | 1.11% | 9,685.29 | 147.50 |
| 1994 | 6 | -0.52% | 9,635.04 | 148.00 |
| 1994 | 7 | 3.08% | 9,932.00 | 148.40 |
| 1994 | 8 | 0.82% | 10,013.19 | 149.00 |
| 1994 | 9 | -0.44% | 9,968.73 | 149.40 |
| 1994 | 10 | -0.37% | 9,931.85 | 149.50 |
| 1994 | 11 | -1.03% | 9,829.98 | 149.70 |
| 1994 | 12 | 2.45% | 10,070.93 | 149.70 |
| 1995 | 1 | 3.82% | 10,455.55 | 150.30 |
| 1995 | 2 | 2.56% | 10,723.02 | 150.90 |
| 1995 | 3 | 3.22% | 11,067.83 | 151.40 |
| 1995 | 4 | 3.35% | 11,438.35 | 151.90 |
| 1995 | 5 | 3.18% | 11,801.91 | 152.20 |
| 1995 | 6 | 3.55% | 12,220.58 | 152.50 |
| 1995 | 7 | 0.51% | 12,283.29 | 152.50 |
| 1995 | 8 | 3.72% | 12,739.94 | 152.90 |
| 1995 | 9 | 0.91% | 12,856.20 | 153.20 |
| 1995 | 10 | 2.36% | 13,159.40 | 153.70 |
| 1995 | 11 | 3.39% | 13,605.39 | 153.60 |
| 1995 | 12 | 0.16% | 13,627.51 | 153.50 |
| 1996 | 1 | 5.90% | 14,432.13 | 154.40 |
| 1996 | 2 | -0.20% | 14,403.16 | 154.90 |
| 1996 | 3 | 0.20% | 14,431.54 | 155.70 |
| 1996 | 4 | 2.35% | 14,771.38 | 156.30 |
| 1996 | 5 | 1.28% | 14,960.25 | 156.60 |
| 1996 | 6 | -3.48% | 14,440.15 | 156.70 |
| 1996 | 7 | 3.08% | 14,884.29 | 157.00 |
| 1996 | 8 | 2.02% | 15,185.51 | 157.30 |
| 1996 | 9 | 4.12% | 15,811.07 | 157.80 |
| 1996 | 10 | 5.05% | 16,609.86 | 158.30 |
| 1996 | 11 | 1.20% | 16,808.89 | 158.60 |
| 1996 | 12 | 3.26% | 17,356.44 | 158.60 |
| 1997 | 1 | 4.36% | 18,113.38 | 159.10 |
| 1997 | 2 | -0.62% | 18,000.41 | 159.60 |
| 1997 | 3 | -3.41% | 17,387.46 | 160.00 |
| 1997 | 4 | 9.22% | 18,990.20 | 160.20 |
| 1997 | 5 | 5.34% | 20,003.68 | 160.10 |
| 1997 | 6 | 5.74% | 21,151.07 | 160.30 |
| 1997 | 7 | 0.35% | 21,224.63 | 160.50 |
| 1997 | 8 | 1.19% | 21,477.63 | 160.80 |
| 1997 | 9 | 1.65% | 21,831.02 | 161.20 |
| 1997 | 10 | -1.15% | 21,579.52 | 161.60 |
| 1997 | 11 | 2.63% | 22,148.05 | 161.50 |
| 1997 | 12 | 0.24% | 22,200.56 | 161.30 |
| 1998 | 1 | 6.40% | 23,621.88 | 161.60 |
| 1998 | 2 | 5.31% | 24,876.88 | 161.90 |
| 1998 | 3 | 3.41% | 25,724.11 | 162.20 |
| 1998 | 4 | -0.22% | 25,667.03 | 162.50 |
| 1998 | 5 | 0.12% | 25,696.93 | 162.80 |
| 1998 | 6 | 4.47% | 26,844.98 | 163.00 |
| 1998 | 7 | -6.97% | 24,973.61 | 163.20 |
| 1998 | 8 | -4.90% | 23,750.29 | 163.40 |
| 1998 | 9 | 1.29% | 24,056.88 | 163.60 |
| 1998 | 10 | 10.97% | 26,696.97 | 164.00 |
| 1998 | 11 | 4.10% | 27,792.64 | 164.00 |
| 1998 | 12 | 5.05% | 29,195.53 | 163.90 |
| 1999 | 1 | -0.07% | 29,176.05 | 164.30 |
| 1999 | 2 | 2.92% | 30,029.02 | 164.50 |
| 1999 | 3 | 4.25% | 31,305.25 | 165.00 |
| 1999 | 4 | -0.10% | 31,274.32 | 166.20 |
| 1999 | 5 | -0.61% | 31,082.99 | 166.20 |
| 1999 | 6 | 4.52% | 32,488.68 | 166.20 |
| 1999 | 7 | -3.77% | 31,262.43 | 166.70 |
| 1999 | 8 | -0.60% | 31,075.48 | 167.10 |
| 1999 | 9 | -1.27% | 30,680.05 | 167.90 |
| 1999 | 10 | 7.11% | 32,860.16 | 168.20 |
| 1999 | 11 | 2.81% | 33,783.12 | 168.30 |
| 1999 | 12 | -0.12% | 33,742.94 | 168.30 |
| 2000 | 1 | -2.48% | 32,906.76 | 168.80 |
| 2000 | 2 | 3.94% | 34,203.60 | 169.80 |
| 2000 | 3 | 1.42% | 34,690.89 | 171.20 |
| 2000 | 4 | -2.84% | 33,706.08 | 171.30 |
| 2000 | 5 | 3.16% | 34,772.37 | 171.50 |
| 2000 | 6 | 0.85% | 35,068.05 | 172.40 |
| 2000 | 7 | 0.94% | 35,397.59 | 172.80 |
| 2000 | 8 | -1.08% | 35,015.42 | 172.80 |
| 2000 | 9 | -5.21% | 33,189.64 | 173.70 |
| 2000 | 10 | -0.77% | 32,933.23 | 174.00 |
| 2000 | 11 | -3.32% | 31,839.82 | 174.10 |
| 2000 | 12 | 0.46% | 31,984.69 | 174.00 |
| 2001 | 1 | -2.14% | 31,301.42 | 175.10 |
| 2001 | 2 | -9.08% | 28,459.28 | 175.80 |
| 2001 | 3 | 0.45% | 28,586.97 | 176.20 |
| 2001 | 4 | 6.88% | 30,553.57 | 176.90 |
| 2001 | 5 | -2.39% | 29,823.75 | 177.70 |
| 2001 | 6 | -2.66% | 29,030.37 | 178.00 |
| 2001 | 7 | -2.05% | 28,436.45 | 177.50 |
| 2001 | 8 | -11.25% | 25,238.11 | 177.50 |
| 2001 | 9 | 3.18% | 26,041.70 | 178.30 |
| 2001 | 10 | 5.05% | 27,357.63 | 177.70 |
| 2001 | 11 | 1.47% | 27,758.71 | 177.40 |
| 2001 | 12 | -0.30% | 27,676.07 | 176.70 |
| 2002 | 1 | -3.35% | 26,748.16 | 177.10 |
| 2002 | 2 | 4.95% | 28,070.92 | 177.80 |
| 2002 | 3 | -3.51% | 27,084.39 | 178.80 |
| 2002 | 4 | -2.82% | 26,320.51 | 179.80 |
| 2002 | 5 | -5.92% | 24,762.08 | 179.80 |
| 2002 | 6 | -10.76% | 22,098.06 | 179.90 |
| 2002 | 7 | 1.14% | 22,349.71 | 180.10 |
| 2002 | 8 | -4.76% | 21,286.37 | 180.70 |
| 2002 | 9 | -1.37% | 20,995.37 | 181.00 |
| 2002 | 10 | 6.63% | 22,386.44 | 181.30 |
| 2002 | 11 | -1.04% | 22,154.72 | 181.30 |
| 2002 | 12 | -0.22% | 22,105.43 | 180.90 |
| 2003 | 1 | -6.41% | 20,687.40 | 181.70 |
| 2003 | 2 | 1.31% | 20,957.97 | 183.10 |
| 2003 | 3 | 5.29% | 22,065.78 | 184.20 |
| 2003 | 4 | 5.31% | 23,237.96 | 183.80 |
| 2003 | 5 | 5.70% | 24,563.50 | 183.50 |
| 2003 | 6 | 0.60% | 24,709.87 | 183.70 |
| 2003 | 7 | -0.17% | 24,668.77 | 183.90 |
| 2003 | 8 | 3.16% | 25,448.60 | 184.60 |
| 2003 | 9 | 2.03% | 25,964.65 | 185.20 |
| 2003 | 10 | 1.21% | 26,278.97 | 185.00 |
| 2003 | 11 | 3.06% | 27,084.11 | 184.50 |
| 2003 | 12 | 4.93% | 28,420.70 | 184.30 |
| 2004 | 1 | 1.09% | 28,729.54 | 185.20 |
| 2004 | 2 | -1.57% | 28,279.87 | 186.20 |
| 2004 | 3 | 0.97% | 28,553.65 | 187.40 |
| 2004 | 4 | -2.56% | 27,821.47 | 188.00 |
| 2004 | 5 | 2.86% | 28,616.51 | 189.10 |
| 2004 | 6 | -2.24% | 27,975.85 | 189.70 |
| 2004 | 7 | -1.39% | 27,587.67 | 189.40 |
| 2004 | 8 | 2.78% | 28,355.33 | 189.50 |
| 2004 | 9 | 0.10% | 28,384.42 | 189.90 |
| 2004 | 10 | 4.77% | 29,739.46 | 190.90 |
| 2004 | 11 | 2.73% | 30,550.59 | 191.00 |
| 2004 | 12 | -1.35% | 30,138.40 | 190.30 |
| 2005 | 1 | 1.68% | 30,645.09 | 190.70 |
| 2005 | 2 | -0.26% | 30,566.76 | 191.80 |
| 2005 | 3 | -2.41% | 29,830.43 | 193.30 |
| 2005 | 4 | 1.34% | 30,228.93 | 194.60 |
| 2005 | 5 | 2.18% | 30,888.13 | 194.40 |
| 2005 | 6 | 1.81% | 31,446.52 | 194.50 |
| 2005 | 7 | 0.31% | 31,544.01 | 195.40 |
| 2005 | 8 | 0.28% | 31,632.24 | 196.40 |
| 2005 | 9 | -2.62% | 30,802.14 | 198.80 |
| 2005 | 10 | 3.96% | 32,022.38 | 199.20 |
| 2005 | 11 | 2.14% | 32,708.98 | 197.60 |
| 2005 | 12 | 1.47% | 33,188.75 | 196.80 |
| 2006 | 1 | -0.02% | 33,183.22 | 198.30 |
| 2006 | 2 | 1.49% | 33,676.37 | 198.70 |
| 2006 | 3 | 0.80% | 33,945.22 | 199.80 |
| 2006 | 4 | -0.79% | 33,678.19 | 201.50 |
| 2006 | 5 | -2.71% | 32,766.93 | 202.50 |
| 2006 | 6 | 0.72% | 33,002.87 | 202.90 |
| 2006 | 7 | 2.29% | 33,759.21 | 203.50 |
| 2006 | 8 | 2.53% | 34,613.72 | 203.90 |
| 2006 | 9 | 3.62% | 35,865.32 | 202.90 |
| 2006 | 10 | 2.00% | 36,583.22 | 201.80 |
| 2006 | 11 | 2.15% | 37,369.12 | 201.50 |
| 2006 | 12 | 0.69% | 37,628.02 | 201.80 |
| 2007 | 1 | 1.60% | 38,228.58 | 202.42 |
| 2007 | 2 | -2.47% | 37,282.85 | 203.50 |
| 2007 | 3 | 4.18% | 38,841.37 | 205.35 |
| 2007 | 4 | 3.39% | 40,158.77 | 206.69 |
| 2007 | 5 | 0.34% | 40,297.28 | 207.95 |
| 2007 | 6 | 0.57% | 40,528.84 | 208.35 |
| 2007 | 7 | -4.20% | 38,826.18 | 208.30 |
| 2007 | 8 | 3.07% | 40,019.98 | 207.92 |
| 2007 | 9 | 2.99% | 41,217.24 | 208.49 |
| 2007 | 10 | -4.81% | 39,236.21 | 208.94 |
| 2007 | 11 | 1.24% | 39,722.04 | 210.18 |
| 2007 | 12 | -6.64% | 37,086.40 | 210.04 |
| 2008 | 1 | -1.56% | 36,506.38 | 211.08 |
| 2008 | 2 | -2.63% | 35,547.49 | 211.69 |
| 2008 | 3 | 4.24% | 37,056.06 | 213.53 |
| 2008 | 4 | 2.56% | 38,005.66 | 214.82 |
| 2008 | 5 | -4.25% | 36,391.72 | 216.63 |
| 2008 | 6 | -6.08% | 34,179.66 | 218.82 |
| 2008 | 7 | 2.11% | 34,901.03 | 219.96 |
| 2008 | 8 | -4.85% | 33,209.19 | 219.09 |
| 2008 | 9 | -20.19% | 26,503.07 | 218.78 |
| 2008 | 10 | -8.61% | 24,222.38 | 216.57 |
| 2008 | 11 | -0.35% | 24,137.31 | 212.43 |
| 2008 | 12 | -1.10% | 23,872.87 | 210.23 |
| 2009 | 1 | -6.70% | 22,272.79 | 211.14 |
| 2009 | 2 | -5.69% | 21,006.04 | 212.19 |
| 2009 | 3 | 12.32% | 23,594.35 | 212.71 |
| 2009 | 4 | 6.66% | 25,165.70 | 213.24 |
| 2009 | 5 | 2.87% | 25,887.66 | 213.86 |
| 2009 | 6 | 1.28% | 26,218.42 | 215.69 |
| 2009 | 7 | 8.12% | 28,347.55 | 215.35 |
| 2009 | 8 | 3.65% | 29,382.33 | 215.83 |
| 2009 | 9 | 2.40% | 30,088.42 | 215.97 |
| 2009 | 10 | 2.09% | 30,718.57 | 216.18 |
| 2009 | 11 | 2.23% | 31,402.32 | 216.33 |
| 2009 | 12 | 1.36% | 31,828.44 | 215.95 |
| 2010 | 1 | -2.90% | 30,905.90 | 216.69 |
| 2010 | 2 | 5.94% | 32,742.65 | 216.74 |
| 2010 | 3 | 4.09% | 34,081.15 | 217.63 |
| 2010 | 4 | -5.88% | 32,076.36 | 218.01 |
| 2010 | 5 | -3.54% | 30,939.71 | 218.18 |
| 2010 | 6 | -0.16% | 30,890.49 | 217.97 |
| 2010 | 7 | 0.86% | 31,157.27 | 218.01 |
| 2010 | 8 | 3.37% | 32,207.63 | 218.31 |
| 2010 | 9 | 4.58% | 33,681.91 | 218.44 |
| 2010 | 10 | 2.49% | 34,520.90 | 218.71 |
| 2010 | 11 | 3.71% | 35,802.91 | 218.80 |
| 2010 | 12 | 3.46% | 37,042.48 | 219.18 |
| 2011 | 1 | 3.15% | 38,209.64 | 220.22 |
| 2011 | 2 | -1.11% | 37,784.57 | 221.31 |
| 2011 | 3 | 2.22% | 38,623.76 | 223.47 |
| 2011 | 4 | 0.66% | 38,878.38 | 224.91 |
| 2011 | 5 | -3.66% | 37,454.42 | 225.96 |
| 2011 | 6 | 3.10% | 38,616.16 | 225.72 |
| 2011 | 7 | -10.40% | 34,599.83 | 225.92 |
| 2011 | 8 | -0.79% | 34,326.75 | 226.55 |
| 2011 | 9 | 3.02% | 35,363.04 | 226.89 |
| 2011 | 10 | 1.77% | 35,987.95 | 226.42 |
| 2011 | 11 | 1.55% | 36,547.47 | 226.23 |
| 2011 | 12 | 4.78% | 38,295.38 | 225.67 |
| 2012 | 1 | 4.16% | 39,889.47 | 226.67 |
| 2012 | 2 | 2.88% | 41,039.81 | 227.66 |
| 2012 | 3 | -0.04% | 41,024.13 | 229.39 |
| 2012 | 4 | -3.09% | 39,756.09 | 230.09 |
| 2012 | 5 | -1.15% | 39,297.94 | 229.82 |
| 2012 | 6 | 2.92% | 40,445.87 | 229.48 |
| 2012 | 7 | 3.39% | 41,816.05 | 229.10 |
| 2012 | 8 | 3.02% | 43,079.39 | 230.38 |
| 2012 | 9 | -0.22% | 42,985.85 | 231.41 |
| 2012 | 10 | -2.84% | 41,766.12 | 231.32 |
| 2012 | 11 | 2.18% | 42,674.76 | 230.22 |
| 2012 | 12 | 4.27% | 44,496.44 | 229.60 |
| 2013 | 1 | 2.33% | 45,534.56 | 230.28 |
| 2013 | 2 | 2.72% | 46,774.21 | 232.17 |
| 2013 | 3 | 1.45% | 47,454.21 | 232.77 |
| 2013 | 4 | 4.57% | 49,624.90 | 232.53 |
| 2013 | 5 | -1.12% | 49,070.20 | 232.95 |
| 2013 | 6 | 3.25% | 50,667.18 | 233.50 |
| 2013 | 7 | 0.25% | 50,795.13 | 233.60 |
| 2013 | 8 | 1.19% | 51,400.85 | 233.88 |
| 2013 | 9 | 2.12% | 52,489.28 | 234.15 |
| 2013 | 10 | 3.86% | 54,515.37 | 233.55 |
| 2013 | 11 | 1.52% | 55,344.91 | 233.07 |
| 2013 | 12 | 0.97% | 55,880.54 | 233.05 |
| 2014 | 1 | -0.13% | 55,807.87 | 233.92 |
| 2014 | 2 | 2.72% | 57,327.11 | 234.78 |
| 2014 | 3 | 0.20% | 57,442.76 | 236.29 |
| 2014 | 4 | 1.53% | 58,322.80 | 237.07 |
| 2014 | 5 | 3.20% | 60,186.98 | 237.90 |
| 2014 | 6 | 1.50% | 61,087.27 | 238.34 |
| 2014 | 7 | -0.43% | 60,826.46 | 238.25 |
| 2014 | 8 | 1.78% | 61,907.97 | 237.85 |
| 2014 | 9 | -2.65% | 60,269.53 | 238.03 |
| 2014 | 10 | 5.71% | 63,708.30 | 237.43 |
| 2014 | 11 | 0.63% | 64,112.14 | 236.15 |
| 2014 | 12 | -1.11% | 63,400.46 | 234.81 |
| 2015 | 1 | 2.83% | 65,193.05 | 233.71 |
| 2015 | 2 | 0.06% | 65,229.14 | 234.72 |
| 2015 | 3 | 0.88% | 65,802.12 | 236.12 |
| 2015 | 4 | 0.98% | 66,446.26 | 236.60 |
| 2015 | 5 | -0.44% | 66,156.88 | 237.81 |
| 2015 | 6 | -0.08% | 66,104.20 | 238.64 |
| 2015 | 7 | -2.42% | 64,501.58 | 238.65 |
| 2015 | 8 | -4.51% | 61,594.43 | 238.32 |
| 2015 | 9 | 4.32% | 64,253.53 | 237.95 |
| 2015 | 10 | 2.93% | 66,137.75 | 237.84 |
| 2015 | 11 | -1.10% | 65,408.27 | 237.34 |
| 2015 | 12 | -6.42% | 61,209.31 | 236.53 |
| 2016 | 1 | -0.55% | 60,872.71 | 236.92 |
| 2016 | 2 | 6.36% | 64,745.87 | 237.11 |
| 2016 | 3 | 2.83% | 66,579.00 | 238.13 |
| 2016 | 4 | -0.30% | 66,376.36 | 239.26 |
| 2016 | 5 | 1.07% | 67,084.25 | 240.23 |
| 2016 | 6 | 3.30% | 69,296.32 | 241.02 |
| 2016 | 7 | 1.20% | 70,127.36 | 240.63 |
| 2016 | 8 | -0.44% | 69,819.73 | 240.85 |
| 2016 | 9 | -0.51% | 69,466.45 | 241.43 |
| 2016 | 10 | 1.20% | 70,300.86 | 241.73 |
| 2016 | 11 | 3.95% | 73,074.90 | 241.35 |
| 2016 | 12 | 1.44% | 74,125.45 | 241.43 |
| 2017 | 1 | 2.58% | 76,035.25 | 242.84 |
| 2017 | 2 | 1.75% | 77,365.31 | 243.60 |
| 2017 | 3 | -0.15% | 77,246.16 | 243.80 |
| 2017 | 4 | 1.69% | 78,553.45 | 244.52 |
| 2017 | 5 | 1.78% | 79,948.90 | 244.73 |
| 2017 | 6 | 0.99% | 80,738.70 | 244.96 |
| 2017 | 7 | 0.25% | 80,938.78 | 244.79 |
| 2017 | 8 | 1.65% | 82,276.91 | 245.52 |
| 2017 | 9 | 2.73% | 84,527.02 | 246.82 |
| 2017 | 10 | 1.59% | 85,870.63 | 246.66 |
| 2017 | 11 | 2.88% | 88,346.70 | 246.67 |
| 2017 | 12 | 4.86% | 92,642.03 | 246.52 |
| 2018 | 1 | -2.89% | 89,967.74 | 247.87 |
| 2018 | 2 | 0.06% | 90,025.84 | 248.99 |
| 2018 | 3 | -1.66% | 88,527.84 | 249.55 |
| 2018 | 4 | 1.96% | 90,264.42 | 250.55 |
| 2018 | 5 | 2.11% | 92,171.68 | 251.59 |
| 2018 | 6 | 1.58% | 93,628.67 | 251.99 |
| 2018 | 7 | 2.45% | 95,923.33 | 252.01 |
| 2018 | 8 | 1.68% | 97,534.60 | 252.15 |
| 2018 | 9 | -3.85% | 93,780.51 | 252.44 |
| 2018 | 10 | -2.08% | 91,833.52 | 252.89 |
| 2018 | 11 | -5.56% | 86,725.27 | 252.04 |
| 2018 | 12 | 1.74% | 88,230.51 | 251.23 |
| 2019 | 1 | 5.83% | 93,373.38 | 251.71 |
| 2019 | 2 | 1.95% | 95,192.31 | 252.78 |
| 2019 | 3 | 3.72% | 98,736.53 | 254.20 |
| 2019 | 4 | -1.53% | 97,224.09 | 255.55 |
| 2019 | 5 | 1.40% | 98,589.85 | 256.09 |
| 2019 | 6 | 3.83% | 102,363.22 | 256.14 |
| 2019 | 7 | -3.13% | 99,154.73 | 256.57 |
| 2019 | 8 | 3.09% | 102,213.88 | 256.56 |
| 2019 | 9 | 0.01% | 102,223.90 | 256.76 |
| 2019 | 10 | 4.43% | 106,756.20 | 257.35 |
| 2019 | 11 | 2.47% | 109,392.35 | 257.21 |
| 2019 | 12 | 3.35% | 113,053.05 | 256.97 |
| 2020 | 1 | 0.12% | 113,191.06 | 257.97 |
| 2020 | 2 | -18.92% | 91,777.91 | 258.68 |
| 2020 | 3 | 4.32% | 95,741.44 | 258.12 |
| 2020 | 4 | 5.89% | 101,378.09 | 256.39 |
| 2020 | 5 | 6.51% | 107,976.05 | 256.39 |
| 2020 | 6 | 3.48% | 111,729.77 | 257.80 |
| 2020 | 7 | 5.89% | 118,314.57 | 259.10 |
| 2020 | 8 | -0.63% | 117,572.73 | 259.92 |
| 2020 | 9 | 1.73% | 119,602.04 | 260.28 |
| 2020 | 10 | 3.95% | 124,331.24 | 260.39 |
| 2020 | 11 | 4.26% | 129,627.85 | 260.23 |
| 2020 | 12 | 2.80% | 133,251.34 | 260.47 |
| 2021 | 1 | 2.49% | 136,571.34 | 261.58 |
| 2021 | 2 | 0.82% | 137,693.07 | 263.01 |
| 2021 | 3 | 6.02% | 145,984.24 | 264.88 |
| 2021 | 4 | 0.76% | 147,094.06 | 267.05 |
| 2021 | 5 | 1.81% | 149,757.09 | 269.20 |
| 2021 | 6 | 3.07% | 154,351.94 | 271.70 |
| 2021 | 7 | 2.19% | 157,724.77 | 273.00 |
| 2021 | 8 | -0.08% | 157,591.50 | 273.57 |
| 2021 | 9 | 0.45% | 158,304.09 | 274.31 |
| 2021 | 10 | 4.74% | 165,815.21 | 276.59 |
| 2021 | 11 | 0.27% | 166,255.29 | 277.95 |
| 2021 | 12 | -2.05% | 162,843.81 | 278.80 |
Click to show 510 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 $1,000.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $1,000.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1978. This would result in a final amount of $140,718.32, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $162,843.81).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1978 | 1 | 41.66 | 41.07 |
| 1978 | 2 | 41.66 | 82.77 |
| 1978 | 3 | 41.66 | 130.25 |
| 1978 | 4 | 41.66 | 181.19 |
| 1978 | 5 | 41.66 | 224.18 |
| 1978 | 6 | 41.66 | 265.50 |
| 1978 | 7 | 41.66 | 329.49 |
| 1978 | 8 | 41.66 | 372.47 |
| 1978 | 9 | 41.66 | 402.47 |
| 1978 | 10 | 41.66 | 419.81 |
| 1978 | 11 | 41.66 | 470.16 |
| 1978 | 12 | 41.66 | 533.06 |
| 1979 | 1 | 41.66 | 568.46 |
| 1979 | 2 | 41.66 | 624.23 |
| 1979 | 3 | 41.66 | 681.89 |
| 1979 | 4 | 41.66 | 709.68 |
| 1979 | 5 | 41.66 | 769.32 |
| 1979 | 6 | 41.66 | 822.32 |
| 1979 | 7 | 41.66 | 907.12 |
| 1979 | 8 | 41.66 | 963.22 |
| 1979 | 9 | 41.66 | 971.01 |
| 1979 | 10 | 41.66 | 1,009.22 |
| 1979 | 11 | 41.66 | 1,096.98 |
| 1979 | 12 | 41.82 | 1,176.34 |
| 1980 | 1 | - | 1,228.05 |
| 1980 | 2 | - | 1,120.25 |
| 1980 | 3 | - | 1,107.23 |
| 1980 | 4 | - | 1,162.99 |
| 1980 | 5 | - | 1,242.81 |
| 1980 | 6 | - | 1,304.57 |
| 1980 | 7 | - | 1,350.29 |
| 1980 | 8 | - | 1,388.58 |
| 1980 | 9 | - | 1,434.75 |
| 1980 | 10 | - | 1,500.96 |
| 1980 | 11 | - | 1,482.27 |
| 1980 | 12 | - | 1,482.42 |
| 1981 | 1 | - | 1,436.91 |
| 1981 | 2 | - | 1,496.44 |
| 1981 | 3 | - | 1,515.80 |
| 1981 | 4 | - | 1,491.29 |
| 1981 | 5 | - | 1,504.08 |
| 1981 | 6 | - | 1,473.75 |
| 1981 | 7 | - | 1,485.58 |
| 1981 | 8 | - | 1,362.24 |
| 1981 | 9 | - | 1,385.77 |
| 1981 | 10 | - | 1,427.94 |
| 1981 | 11 | - | 1,444.79 |
| 1981 | 12 | - | 1,375.38 |
| 1982 | 1 | - | 1,349.05 |
| 1982 | 2 | - | 1,312.03 |
| 1982 | 3 | - | 1,383.79 |
| 1982 | 4 | - | 1,391.67 |
| 1982 | 5 | - | 1,318.32 |
| 1982 | 6 | - | 1,321.53 |
| 1982 | 7 | - | 1,332.03 |
| 1982 | 8 | - | 1,493.15 |
| 1982 | 9 | - | 1,625.77 |
| 1982 | 10 | - | 1,698.93 |
| 1982 | 11 | - | 1,721.95 |
| 1982 | 12 | - | 1,789.55 |
| 1983 | 1 | - | 1,827.67 |
| 1983 | 2 | - | 1,898.32 |
| 1983 | 3 | - | 1,978.00 |
| 1983 | 4 | - | 2,065.51 |
| 1983 | 5 | - | 2,101.73 |
| 1983 | 6 | - | 2,116.61 |
| 1983 | 7 | - | 2,065.66 |
| 1983 | 8 | - | 2,134.11 |
| 1983 | 9 | - | 2,147.94 |
| 1983 | 10 | - | 2,123.42 |
| 1983 | 11 | - | 2,120.70 |
| 1983 | 12 | - | 2,154.12 |
| 1984 | 1 | - | 2,044.00 |
| 1984 | 2 | - | 2,053.04 |
| 1984 | 3 | - | 2,063.46 |
| 1984 | 4 | - | 2,058.24 |
| 1984 | 5 | - | 2,020.20 |
| 1984 | 6 | - | 2,001.85 |
| 1984 | 7 | - | 2,186.15 |
| 1984 | 8 | - | 2,216.91 |
| 1984 | 9 | - | 2,207.77 |
| 1984 | 10 | - | 2,236.16 |
| 1984 | 11 | - | 2,220.33 |
| 1984 | 12 | - | 2,324.64 |
| 1985 | 1 | - | 2,459.17 |
| 1985 | 2 | - | 2,447.41 |
| 1985 | 3 | - | 2,472.49 |
| 1985 | 4 | - | 2,540.12 |
| 1985 | 5 | - | 2,603.91 |
| 1985 | 6 | - | 2,662.42 |
| 1985 | 7 | - | 2,613.29 |
| 1985 | 8 | - | 2,564.03 |
| 1985 | 9 | - | 2,602.38 |
| 1985 | 10 | - | 2,769.46 |
| 1985 | 11 | - | 2,916.09 |
| 1985 | 12 | - | 2,938.02 |
| 1986 | 1 | - | 3,105.40 |
| 1986 | 2 | - | 3,297.40 |
| 1986 | 3 | - | 3,387.80 |
| 1986 | 4 | - | 3,404.46 |
| 1986 | 5 | - | 3,511.13 |
| 1986 | 6 | - | 3,447.79 |
| 1986 | 7 | - | 3,526.43 |
| 1986 | 8 | - | 3,439.81 |
| 1986 | 9 | - | 3,436.72 |
| 1986 | 10 | - | 3,558.14 |
| 1986 | 11 | - | 3,618.95 |
| 1986 | 12 | - | 3,860.45 |
| 1987 | 1 | - | 4,109.91 |
| 1987 | 2 | - | 4,289.78 |
| 1987 | 3 | - | 4,253.04 |
| 1987 | 4 | - | 4,260.39 |
| 1987 | 5 | - | 4,452.04 |
| 1987 | 6 | - | 4,591.04 |
| 1987 | 7 | - | 4,887.34 |
| 1987 | 8 | - | 4,739.23 |
| 1987 | 9 | - | 4,177.45 |
| 1987 | 10 | - | 3,663.48 |
| 1987 | 11 | - | 3,614.59 |
| 1987 | 12 | - | 3,768.08 |
| 1988 | 1 | - | 3,893.50 |
| 1988 | 2 | - | 4,019.34 |
| 1988 | 3 | - | 3,983.73 |
| 1988 | 4 | - | 3,896.56 |
| 1988 | 5 | - | 4,130.28 |
| 1988 | 6 | - | 4,117.60 |
| 1988 | 7 | - | 4,046.84 |
| 1988 | 8 | - | 4,124.83 |
| 1988 | 9 | - | 4,281.64 |
| 1988 | 10 | - | 4,195.14 |
| 1988 | 11 | - | 4,292.72 |
| 1988 | 12 | - | 4,443.51 |
| 1989 | 1 | - | 4,590.14 |
| 1989 | 2 | - | 4,582.72 |
| 1989 | 3 | - | 4,746.08 |
| 1989 | 4 | - | 4,941.40 |
| 1989 | 5 | - | 5,109.04 |
| 1989 | 6 | - | 5,252.10 |
| 1989 | 7 | - | 5,498.47 |
| 1989 | 8 | - | 5,523.51 |
| 1989 | 9 | - | 5,539.33 |
| 1989 | 10 | - | 5,438.87 |
| 1989 | 11 | - | 5,587.71 |
| 1989 | 12 | - | 5,464.16 |
| 1990 | 1 | - | 5,326.07 |
| 1990 | 2 | - | 5,470.25 |
| 1990 | 3 | - | 5,480.97 |
| 1990 | 4 | - | 5,692.04 |
| 1990 | 5 | - | 5,872.48 |
| 1990 | 6 | - | 5,882.44 |
| 1990 | 7 | - | 5,420.01 |
| 1990 | 8 | - | 5,184.72 |
| 1990 | 9 | - | 5,064.66 |
| 1990 | 10 | - | 5,215.78 |
| 1990 | 11 | - | 5,455.01 |
| 1990 | 12 | - | 5,417.63 |
| 1991 | 1 | - | 6,046.44 |
| 1991 | 2 | - | 6,230.53 |
| 1991 | 3 | - | 6,371.27 |
| 1991 | 4 | - | 6,359.87 |
| 1991 | 5 | - | 6,381.94 |
| 1991 | 6 | - | 6,431.75 |
| 1991 | 7 | - | 6,604.06 |
| 1991 | 8 | - | 6,584.04 |
| 1991 | 9 | - | 6,596.00 |
| 1991 | 10 | - | 6,597.04 |
| 1991 | 11 | - | 6,658.73 |
| 1991 | 12 | - | 7,148.68 |
| 1992 | 1 | - | 7,105.73 |
| 1992 | 2 | - | 7,033.79 |
| 1992 | 3 | - | 7,052.38 |
| 1992 | 4 | - | 7,198.25 |
| 1992 | 5 | - | 7,102.58 |
| 1992 | 6 | - | 7,238.39 |
| 1992 | 7 | - | 7,306.55 |
| 1992 | 8 | - | 7,334.19 |
| 1992 | 9 | - | 7,247.49 |
| 1992 | 10 | - | 7,447.30 |
| 1992 | 11 | - | 7,690.91 |
| 1992 | 12 | - | 7,701.90 |
| 1993 | 1 | - | 7,834.70 |
| 1993 | 2 | - | 8,003.16 |
| 1993 | 3 | - | 7,895.78 |
| 1993 | 4 | - | 7,953.00 |
| 1993 | 5 | - | 8,021.81 |
| 1993 | 6 | - | 8,026.70 |
| 1993 | 7 | - | 8,168.17 |
| 1993 | 8 | - | 8,278.85 |
| 1993 | 9 | - | 8,381.66 |
| 1993 | 10 | - | 8,382.30 |
| 1993 | 11 | - | 8,456.66 |
| 1993 | 12 | - | 8,603.46 |
| 1994 | 1 | - | 8,596.95 |
| 1994 | 2 | - | 8,474.54 |
| 1994 | 3 | - | 8,190.95 |
| 1994 | 4 | - | 8,277.63 |
| 1994 | 5 | - | 8,369.36 |
| 1994 | 6 | - | 8,325.93 |
| 1994 | 7 | - | 8,582.54 |
| 1994 | 8 | - | 8,652.70 |
| 1994 | 9 | - | 8,614.28 |
| 1994 | 10 | - | 8,582.42 |
| 1994 | 11 | - | 8,494.39 |
| 1994 | 12 | - | 8,702.60 |
| 1995 | 1 | - | 9,034.96 |
| 1995 | 2 | - | 9,266.09 |
| 1995 | 3 | - | 9,564.05 |
| 1995 | 4 | - | 9,884.23 |
| 1995 | 5 | - | 10,198.39 |
| 1995 | 6 | - | 10,560.18 |
| 1995 | 7 | - | 10,614.36 |
| 1995 | 8 | - | 11,008.97 |
| 1995 | 9 | - | 11,109.44 |
| 1995 | 10 | - | 11,371.44 |
| 1995 | 11 | - | 11,756.83 |
| 1995 | 12 | - | 11,775.95 |
| 1996 | 1 | - | 12,471.24 |
| 1996 | 2 | - | 12,446.22 |
| 1996 | 3 | - | 12,470.74 |
| 1996 | 4 | - | 12,764.40 |
| 1996 | 5 | - | 12,927.61 |
| 1996 | 6 | - | 12,478.17 |
| 1996 | 7 | - | 12,861.97 |
| 1996 | 8 | - | 13,122.26 |
| 1996 | 9 | - | 13,662.83 |
| 1996 | 10 | - | 14,353.09 |
| 1996 | 11 | - | 14,525.07 |
| 1996 | 12 | - | 14,998.23 |
| 1997 | 1 | - | 15,652.33 |
| 1997 | 2 | - | 15,554.71 |
| 1997 | 3 | - | 15,025.03 |
| 1997 | 4 | - | 16,410.01 |
| 1997 | 5 | - | 17,285.79 |
| 1997 | 6 | - | 18,277.29 |
| 1997 | 7 | - | 18,340.85 |
| 1997 | 8 | - | 18,559.48 |
| 1997 | 9 | - | 18,864.85 |
| 1997 | 10 | - | 18,647.52 |
| 1997 | 11 | - | 19,138.81 |
| 1997 | 12 | - | 19,184.19 |
| 1998 | 1 | - | 20,412.39 |
| 1998 | 2 | - | 21,496.87 |
| 1998 | 3 | - | 22,228.99 |
| 1998 | 4 | - | 22,179.67 |
| 1998 | 5 | - | 22,205.50 |
| 1998 | 6 | - | 23,197.57 |
| 1998 | 7 | - | 21,580.46 |
| 1998 | 8 | - | 20,523.36 |
| 1998 | 9 | - | 20,788.28 |
| 1998 | 10 | - | 23,069.67 |
| 1998 | 11 | - | 24,016.47 |
| 1998 | 12 | - | 25,228.75 |
| 1999 | 1 | - | 25,211.92 |
| 1999 | 2 | - | 25,948.99 |
| 1999 | 3 | - | 27,051.83 |
| 1999 | 4 | - | 27,025.09 |
| 1999 | 5 | - | 26,859.76 |
| 1999 | 6 | - | 28,074.46 |
| 1999 | 7 | - | 27,014.83 |
| 1999 | 8 | - | 26,853.27 |
| 1999 | 9 | - | 26,511.57 |
| 1999 | 10 | - | 28,395.47 |
| 1999 | 11 | - | 29,193.02 |
| 1999 | 12 | - | 29,158.30 |
| 2000 | 1 | - | 28,435.74 |
| 2000 | 2 | - | 29,556.38 |
| 2000 | 3 | - | 29,977.46 |
| 2000 | 4 | - | 29,126.46 |
| 2000 | 5 | - | 30,047.87 |
| 2000 | 6 | - | 30,303.38 |
| 2000 | 7 | - | 30,588.14 |
| 2000 | 8 | - | 30,257.90 |
| 2000 | 9 | - | 28,680.18 |
| 2000 | 10 | - | 28,458.61 |
| 2000 | 11 | - | 27,513.76 |
| 2000 | 12 | - | 27,638.95 |
| 2001 | 1 | - | 27,048.51 |
| 2001 | 2 | - | 24,592.53 |
| 2001 | 3 | - | 24,702.88 |
| 2001 | 4 | - | 26,402.27 |
| 2001 | 5 | - | 25,771.61 |
| 2001 | 6 | - | 25,086.03 |
| 2001 | 7 | - | 24,572.81 |
| 2001 | 8 | - | 21,809.03 |
| 2001 | 9 | - | 22,503.43 |
| 2001 | 10 | - | 23,640.56 |
| 2001 | 11 | - | 23,987.15 |
| 2001 | 12 | - | 23,915.74 |
| 2002 | 1 | - | 23,113.90 |
| 2002 | 2 | - | 24,256.94 |
| 2002 | 3 | - | 23,404.45 |
| 2002 | 4 | - | 22,744.36 |
| 2002 | 5 | - | 21,397.67 |
| 2002 | 6 | - | 19,095.61 |
| 2002 | 7 | - | 19,313.06 |
| 2002 | 8 | - | 18,394.20 |
| 2002 | 9 | - | 18,142.74 |
| 2002 | 10 | - | 19,344.81 |
| 2002 | 11 | - | 19,144.58 |
| 2002 | 12 | - | 19,101.98 |
| 2003 | 1 | - | 17,876.62 |
| 2003 | 2 | - | 18,110.42 |
| 2003 | 3 | - | 19,067.71 |
| 2003 | 4 | - | 20,080.63 |
| 2003 | 5 | - | 21,226.07 |
| 2003 | 6 | - | 21,352.55 |
| 2003 | 7 | - | 21,317.04 |
| 2003 | 8 | - | 21,990.91 |
| 2003 | 9 | - | 22,436.85 |
| 2003 | 10 | - | 22,708.47 |
| 2003 | 11 | - | 23,404.21 |
| 2003 | 12 | - | 24,559.20 |
| 2004 | 1 | - | 24,826.07 |
| 2004 | 2 | - | 24,437.50 |
| 2004 | 3 | - | 24,674.09 |
| 2004 | 4 | - | 24,041.38 |
| 2004 | 5 | - | 24,728.40 |
| 2004 | 6 | - | 24,174.79 |
| 2004 | 7 | - | 23,839.35 |
| 2004 | 8 | - | 24,502.71 |
| 2004 | 9 | - | 24,527.85 |
| 2004 | 10 | - | 25,698.78 |
| 2004 | 11 | - | 26,399.70 |
| 2004 | 12 | - | 26,043.51 |
| 2005 | 1 | - | 26,481.36 |
| 2005 | 2 | - | 26,413.67 |
| 2005 | 3 | - | 25,777.39 |
| 2005 | 4 | - | 26,121.74 |
| 2005 | 5 | - | 26,691.38 |
| 2005 | 6 | - | 27,173.90 |
| 2005 | 7 | - | 27,258.15 |
| 2005 | 8 | - | 27,334.38 |
| 2005 | 9 | - | 26,617.07 |
| 2005 | 10 | - | 27,671.52 |
| 2005 | 11 | - | 28,264.83 |
| 2005 | 12 | - | 28,679.41 |
| 2006 | 1 | - | 28,674.64 |
| 2006 | 2 | - | 29,100.78 |
| 2006 | 3 | - | 29,333.10 |
| 2006 | 4 | - | 29,102.36 |
| 2006 | 5 | - | 28,314.91 |
| 2006 | 6 | - | 28,518.79 |
| 2006 | 7 | - | 29,172.37 |
| 2006 | 8 | - | 29,910.77 |
| 2006 | 9 | - | 30,992.32 |
| 2006 | 10 | - | 31,612.68 |
| 2006 | 11 | - | 32,291.80 |
| 2006 | 12 | - | 32,515.53 |
| 2007 | 1 | - | 33,034.49 |
| 2007 | 2 | - | 32,217.25 |
| 2007 | 3 | - | 33,564.02 |
| 2007 | 4 | - | 34,702.43 |
| 2007 | 5 | - | 34,822.12 |
| 2007 | 6 | - | 35,022.21 |
| 2007 | 7 | - | 33,550.89 |
| 2007 | 8 | - | 34,582.49 |
| 2007 | 9 | - | 35,617.07 |
| 2007 | 10 | - | 33,905.21 |
| 2007 | 11 | - | 34,325.03 |
| 2007 | 12 | - | 32,047.50 |
| 2008 | 1 | - | 31,546.28 |
| 2008 | 2 | - | 30,717.68 |
| 2008 | 3 | - | 32,021.27 |
| 2008 | 4 | - | 32,841.85 |
| 2008 | 5 | - | 31,447.20 |
| 2008 | 6 | - | 29,535.69 |
| 2008 | 7 | - | 30,159.05 |
| 2008 | 8 | - | 28,697.08 |
| 2008 | 9 | - | 22,902.11 |
| 2008 | 10 | - | 20,931.30 |
| 2008 | 11 | - | 20,857.79 |
| 2008 | 12 | - | 20,629.28 |
| 2009 | 1 | - | 19,246.60 |
| 2009 | 2 | - | 18,151.96 |
| 2009 | 3 | - | 20,388.60 |
| 2009 | 4 | - | 21,746.45 |
| 2009 | 5 | - | 22,370.32 |
| 2009 | 6 | - | 22,656.14 |
| 2009 | 7 | - | 24,495.98 |
| 2009 | 8 | - | 25,390.17 |
| 2009 | 9 | - | 26,000.32 |
| 2009 | 10 | - | 26,544.85 |
| 2009 | 11 | - | 27,135.70 |
| 2009 | 12 | - | 27,503.93 |
| 2010 | 1 | - | 26,706.73 |
| 2010 | 2 | - | 28,293.92 |
| 2010 | 3 | - | 29,450.56 |
| 2010 | 4 | - | 27,718.16 |
| 2010 | 5 | - | 26,735.95 |
| 2010 | 6 | - | 26,693.42 |
| 2010 | 7 | - | 26,923.95 |
| 2010 | 8 | - | 27,831.60 |
| 2010 | 9 | - | 29,105.57 |
| 2010 | 10 | - | 29,830.56 |
| 2010 | 11 | - | 30,938.39 |
| 2010 | 12 | - | 32,009.54 |
| 2011 | 1 | - | 33,018.12 |
| 2011 | 2 | - | 32,650.80 |
| 2011 | 3 | - | 33,375.97 |
| 2011 | 4 | - | 33,596.00 |
| 2011 | 5 | - | 32,365.51 |
| 2011 | 6 | - | 33,369.40 |
| 2011 | 7 | - | 29,898.77 |
| 2011 | 8 | - | 29,662.80 |
| 2011 | 9 | - | 30,558.29 |
| 2011 | 10 | - | 31,098.29 |
| 2011 | 11 | - | 31,581.79 |
| 2011 | 12 | - | 33,092.21 |
| 2012 | 1 | - | 34,469.71 |
| 2012 | 2 | - | 35,463.76 |
| 2012 | 3 | - | 35,450.21 |
| 2012 | 4 | - | 34,354.46 |
| 2012 | 5 | - | 33,958.55 |
| 2012 | 6 | - | 34,950.51 |
| 2012 | 7 | - | 36,134.53 |
| 2012 | 8 | - | 37,226.22 |
| 2012 | 9 | - | 37,145.38 |
| 2012 | 10 | - | 36,091.39 |
| 2012 | 11 | - | 36,876.57 |
| 2012 | 12 | - | 38,450.74 |
| 2013 | 1 | - | 39,347.80 |
| 2013 | 2 | - | 40,419.03 |
| 2013 | 3 | - | 41,006.64 |
| 2013 | 4 | - | 42,882.39 |
| 2013 | 5 | - | 42,403.06 |
| 2013 | 6 | - | 43,783.06 |
| 2013 | 7 | - | 43,893.63 |
| 2013 | 8 | - | 44,417.04 |
| 2013 | 9 | - | 45,357.60 |
| 2013 | 10 | - | 47,108.40 |
| 2013 | 11 | - | 47,825.23 |
| 2013 | 12 | - | 48,288.08 |
| 2014 | 1 | - | 48,225.29 |
| 2014 | 2 | - | 49,538.11 |
| 2014 | 3 | - | 49,638.04 |
| 2014 | 4 | - | 50,398.52 |
| 2014 | 5 | - | 52,009.41 |
| 2014 | 6 | - | 52,787.38 |
| 2014 | 7 | - | 52,562.01 |
| 2014 | 8 | - | 53,496.58 |
| 2014 | 9 | - | 52,080.74 |
| 2014 | 10 | - | 55,052.29 |
| 2014 | 11 | - | 55,401.26 |
| 2014 | 12 | - | 54,786.28 |
| 2015 | 1 | - | 56,335.31 |
| 2015 | 2 | - | 56,366.50 |
| 2015 | 3 | - | 56,861.62 |
| 2015 | 4 | - | 57,418.25 |
| 2015 | 5 | - | 57,168.19 |
| 2015 | 6 | - | 57,122.67 |
| 2015 | 7 | - | 55,737.79 |
| 2015 | 8 | - | 53,225.63 |
| 2015 | 9 | - | 55,523.44 |
| 2015 | 10 | - | 57,151.65 |
| 2015 | 11 | - | 56,521.29 |
| 2015 | 12 | - | 52,892.83 |
| 2016 | 1 | - | 52,601.97 |
| 2016 | 2 | - | 55,948.89 |
| 2016 | 3 | - | 57,532.95 |
| 2016 | 4 | - | 57,357.84 |
| 2016 | 5 | - | 57,969.56 |
| 2016 | 6 | - | 59,881.07 |
| 2016 | 7 | - | 60,599.19 |
| 2016 | 8 | - | 60,333.36 |
| 2016 | 9 | - | 60,028.09 |
| 2016 | 10 | - | 60,749.12 |
| 2016 | 11 | - | 63,146.26 |
| 2016 | 12 | - | 64,054.07 |
| 2017 | 1 | - | 65,704.39 |
| 2017 | 2 | - | 66,853.73 |
| 2017 | 3 | - | 66,750.77 |
| 2017 | 4 | - | 67,880.44 |
| 2017 | 5 | - | 69,086.29 |
| 2017 | 6 | - | 69,768.78 |
| 2017 | 7 | - | 69,941.67 |
| 2017 | 8 | - | 71,097.99 |
| 2017 | 9 | - | 73,042.38 |
| 2017 | 10 | - | 74,203.44 |
| 2017 | 11 | - | 76,343.09 |
| 2017 | 12 | - | 80,054.81 |
| 2018 | 1 | - | 77,743.88 |
| 2018 | 2 | - | 77,794.08 |
| 2018 | 3 | - | 76,499.61 |
| 2018 | 4 | - | 78,000.24 |
| 2018 | 5 | - | 79,648.37 |
| 2018 | 6 | - | 80,907.40 |
| 2018 | 7 | - | 82,890.28 |
| 2018 | 8 | - | 84,282.63 |
| 2018 | 9 | - | 81,038.60 |
| 2018 | 10 | - | 79,356.16 |
| 2018 | 11 | - | 74,941.96 |
| 2018 | 12 | - | 76,242.68 |
| 2019 | 1 | - | 80,686.79 |
| 2019 | 2 | - | 82,258.59 |
| 2019 | 3 | - | 85,321.26 |
| 2019 | 4 | - | 84,014.31 |
| 2019 | 5 | - | 85,194.50 |
| 2019 | 6 | - | 88,455.19 |
| 2019 | 7 | - | 85,682.64 |
| 2019 | 8 | - | 88,326.14 |
| 2019 | 9 | - | 88,334.80 |
| 2019 | 10 | - | 92,251.30 |
| 2019 | 11 | - | 94,529.27 |
| 2019 | 12 | - | 97,692.60 |
| 2020 | 1 | - | 97,811.86 |
| 2020 | 2 | - | 79,308.10 |
| 2020 | 3 | - | 82,733.11 |
| 2020 | 4 | - | 87,603.91 |
| 2020 | 5 | - | 93,305.41 |
| 2020 | 6 | - | 96,549.11 |
| 2020 | 7 | - | 102,239.24 |
| 2020 | 8 | - | 101,598.19 |
| 2020 | 9 | - | 103,351.78 |
| 2020 | 10 | - | 107,438.43 |
| 2020 | 11 | - | 112,015.39 |
| 2020 | 12 | - | 115,146.56 |
| 2021 | 1 | - | 118,015.47 |
| 2021 | 2 | - | 118,984.80 |
| 2021 | 3 | - | 126,149.45 |
| 2021 | 4 | - | 127,108.48 |
| 2021 | 5 | - | 129,409.68 |
| 2021 | 6 | - | 133,380.23 |
| 2021 | 7 | - | 136,294.80 |
| 2021 | 8 | - | 136,179.64 |
| 2021 | 9 | - | 136,795.41 |
| 2021 | 10 | - | 143,286.00 |
| 2021 | 11 | - | 143,666.29 |
| 2021 | 12 | - | 140,718.32 |
Click to show 510 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 | $90.25 |
| End Value Average monthly close | $3,793.75 |
| Change in price | +4,103.60% +9.08% / yr |
| Change incl. dividends | +16,184.38% +12.27% / yr |
| Change incl. dividends, inflation-adjusted | +3,818.30% +8.69% / yr |
| Final amount, nominal ($1000 base) | $162,843.81 |
| Final amount, inflation-adjusted ($1000 base) | $39,182.97 |