Stock market returns between 1979 and 2023
If you invested $12000 in the S&P 500 at the beginning of 1979, you would have about $1,827,072.26 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 15,125.60%, or 11.82% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,527.74% cumulatively, or 8.31% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $1,576,118.58.
The graph below shows the performance of $12000 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 $12000 is $1,815,072.26, or 15,125.60%. This means by 2023 you would have $1,827,072.26 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 1979 was 72.600 and the CPI in 2023 was 304.702.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 44 years.
Adjusted for inflation, the $1,827,072.26 nominal end value of the original $12000 investment would have a real return of roughly $423,328.20 in 1979 dollars. This means the inflation-adjusted return is 3,527.74% as opposed to the original 15,125.60%.
For more information on inflation, see our U.S. inflation calculator for 1979.
Full monthly data
The table below shows the full dataset pertaining to a $12000 investment, including gains and losses over the 540-month period between 1979 and 2023.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1979 | 1 | -1.06% | 11,873.17 | 68.30 |
| 1979 | 2 | 2.34% | 12,151.14 | 69.10 |
| 1979 | 3 | 2.43% | 12,446.52 | 69.80 |
| 1979 | 4 | -1.89% | 12,210.90 | 70.60 |
| 1979 | 5 | 2.42% | 12,506.12 | 71.50 |
| 1979 | 6 | 1.42% | 12,683.81 | 72.30 |
| 1979 | 7 | 5.01% | 13,319.82 | 73.10 |
| 1979 | 8 | 1.54% | 13,525.00 | 73.80 |
| 1979 | 9 | -3.35% | 13,071.58 | 74.60 |
| 1979 | 10 | -0.32% | 13,029.43 | 75.20 |
| 1979 | 11 | 4.40% | 13,603.24 | 75.90 |
| 1979 | 12 | 3.31% | 14,053.85 | 76.70 |
| 1980 | 1 | 4.40% | 14,671.63 | 77.80 |
| 1980 | 2 | -8.78% | 13,383.78 | 78.90 |
| 1980 | 3 | -1.16% | 13,228.26 | 80.10 |
| 1980 | 4 | 5.04% | 13,894.45 | 81.00 |
| 1980 | 5 | 6.86% | 14,847.98 | 81.80 |
| 1980 | 6 | 4.97% | 15,585.85 | 82.70 |
| 1980 | 7 | 3.50% | 16,132.08 | 82.70 |
| 1980 | 8 | 2.84% | 16,589.56 | 83.30 |
| 1980 | 9 | 3.32% | 17,141.12 | 84.00 |
| 1980 | 10 | 4.61% | 17,932.13 | 84.80 |
| 1980 | 11 | -1.24% | 17,708.91 | 85.50 |
| 1980 | 12 | 0.01% | 17,710.68 | 86.30 |
| 1981 | 1 | -3.07% | 17,166.93 | 87.00 |
| 1981 | 2 | 4.14% | 17,878.21 | 87.90 |
| 1981 | 3 | 1.29% | 18,109.52 | 88.50 |
| 1981 | 4 | -1.62% | 17,816.64 | 89.10 |
| 1981 | 5 | 0.86% | 17,969.43 | 89.80 |
| 1981 | 6 | -2.02% | 17,607.12 | 90.60 |
| 1981 | 7 | 0.80% | 17,748.43 | 91.60 |
| 1981 | 8 | -8.30% | 16,274.84 | 92.30 |
| 1981 | 9 | 1.73% | 16,555.94 | 93.20 |
| 1981 | 10 | 3.04% | 17,059.86 | 93.40 |
| 1981 | 11 | 1.18% | 17,261.06 | 93.70 |
| 1981 | 12 | -4.80% | 16,431.82 | 94.00 |
| 1982 | 1 | -1.91% | 16,117.33 | 94.30 |
| 1982 | 2 | -2.74% | 15,674.98 | 94.60 |
| 1982 | 3 | 5.47% | 16,532.30 | 94.50 |
| 1982 | 4 | 0.57% | 16,626.47 | 94.90 |
| 1982 | 5 | -5.27% | 15,750.16 | 95.80 |
| 1982 | 6 | 0.24% | 15,788.56 | 97.00 |
| 1982 | 7 | 0.79% | 15,913.92 | 97.50 |
| 1982 | 8 | 12.10% | 17,838.93 | 97.70 |
| 1982 | 9 | 8.88% | 19,423.27 | 97.90 |
| 1982 | 10 | 4.50% | 20,297.30 | 98.20 |
| 1982 | 11 | 1.36% | 20,572.43 | 98.00 |
| 1982 | 12 | 3.93% | 21,380.06 | 97.60 |
| 1983 | 1 | 2.13% | 21,835.46 | 97.80 |
| 1983 | 2 | 3.87% | 22,679.53 | 97.90 |
| 1983 | 3 | 4.20% | 23,631.48 | 97.90 |
| 1983 | 4 | 4.42% | 24,676.94 | 98.60 |
| 1983 | 5 | 1.75% | 25,109.65 | 99.20 |
| 1983 | 6 | 0.71% | 25,287.46 | 99.50 |
| 1983 | 7 | -2.41% | 24,678.74 | 99.90 |
| 1983 | 8 | 3.31% | 25,496.55 | 100.20 |
| 1983 | 9 | 0.65% | 25,661.75 | 100.70 |
| 1983 | 10 | -1.14% | 25,368.84 | 101.00 |
| 1983 | 11 | -0.13% | 25,336.34 | 101.20 |
| 1983 | 12 | 1.58% | 25,735.62 | 101.30 |
| 1984 | 1 | -5.11% | 24,419.97 | 101.90 |
| 1984 | 2 | 0.44% | 24,528.00 | 102.40 |
| 1984 | 3 | 0.51% | 24,652.40 | 102.60 |
| 1984 | 4 | -0.25% | 24,590.14 | 103.10 |
| 1984 | 5 | -1.85% | 24,135.64 | 103.40 |
| 1984 | 6 | -0.91% | 23,916.38 | 103.70 |
| 1984 | 7 | 9.21% | 26,118.25 | 104.10 |
| 1984 | 8 | 1.41% | 26,485.73 | 104.50 |
| 1984 | 9 | -0.41% | 26,376.50 | 105.00 |
| 1984 | 10 | 1.29% | 26,715.68 | 105.30 |
| 1984 | 11 | -0.71% | 26,526.65 | 105.30 |
| 1984 | 12 | 4.70% | 27,772.76 | 105.30 |
| 1985 | 1 | 5.79% | 29,380.06 | 105.50 |
| 1985 | 2 | -0.48% | 29,239.53 | 106.00 |
| 1985 | 3 | 1.02% | 29,539.16 | 106.40 |
| 1985 | 4 | 2.74% | 30,347.24 | 106.90 |
| 1985 | 5 | 2.51% | 31,109.25 | 107.30 |
| 1985 | 6 | 2.25% | 31,808.34 | 107.60 |
| 1985 | 7 | -1.85% | 31,221.38 | 107.80 |
| 1985 | 8 | -1.88% | 30,632.86 | 108.00 |
| 1985 | 9 | 1.50% | 31,090.99 | 108.30 |
| 1985 | 10 | 6.42% | 33,087.19 | 108.70 |
| 1985 | 11 | 5.29% | 34,839.00 | 109.00 |
| 1985 | 12 | 0.75% | 35,100.89 | 109.30 |
| 1986 | 1 | 5.70% | 37,100.68 | 109.60 |
| 1986 | 2 | 6.18% | 39,394.53 | 109.30 |
| 1986 | 3 | 2.74% | 40,474.50 | 108.80 |
| 1986 | 4 | 0.49% | 40,673.57 | 108.60 |
| 1986 | 5 | 3.13% | 41,947.97 | 108.90 |
| 1986 | 6 | -1.80% | 41,191.26 | 109.50 |
| 1986 | 7 | 2.28% | 42,130.77 | 109.50 |
| 1986 | 8 | -2.46% | 41,095.94 | 109.70 |
| 1986 | 9 | -0.09% | 41,059.01 | 110.20 |
| 1986 | 10 | 3.53% | 42,509.60 | 110.30 |
| 1986 | 11 | 1.71% | 43,236.07 | 110.40 |
| 1986 | 12 | 6.67% | 46,121.37 | 110.50 |
| 1987 | 1 | 6.46% | 49,101.68 | 111.20 |
| 1987 | 2 | 4.38% | 51,250.57 | 111.60 |
| 1987 | 3 | -0.86% | 50,811.65 | 112.10 |
| 1987 | 4 | 0.17% | 50,899.47 | 112.70 |
| 1987 | 5 | 4.50% | 53,189.15 | 113.10 |
| 1987 | 6 | 3.12% | 54,849.77 | 113.50 |
| 1987 | 7 | 6.45% | 58,389.78 | 113.80 |
| 1987 | 8 | -3.03% | 56,620.32 | 114.40 |
| 1987 | 9 | -11.85% | 49,908.61 | 115.00 |
| 1987 | 10 | -12.30% | 43,768.15 | 115.30 |
| 1987 | 11 | -1.33% | 43,183.98 | 115.40 |
| 1987 | 12 | 4.25% | 45,017.81 | 115.40 |
| 1988 | 1 | 3.33% | 46,516.25 | 115.70 |
| 1988 | 2 | 3.23% | 48,019.69 | 116.00 |
| 1988 | 3 | -0.89% | 47,594.22 | 116.50 |
| 1988 | 4 | -2.19% | 46,552.73 | 117.10 |
| 1988 | 5 | 6.00% | 49,345.06 | 117.50 |
| 1988 | 6 | -0.31% | 49,193.61 | 118.00 |
| 1988 | 7 | -1.72% | 48,348.22 | 118.50 |
| 1988 | 8 | 1.93% | 49,279.97 | 119.00 |
| 1988 | 9 | 3.80% | 51,153.41 | 119.80 |
| 1988 | 10 | -2.02% | 50,119.98 | 120.20 |
| 1988 | 11 | 2.33% | 51,285.75 | 120.30 |
| 1988 | 12 | 3.51% | 53,087.24 | 120.50 |
| 1989 | 1 | 3.30% | 54,839.04 | 121.10 |
| 1989 | 2 | -0.16% | 54,750.39 | 121.60 |
| 1989 | 3 | 3.56% | 56,702.13 | 122.30 |
| 1989 | 4 | 4.12% | 59,035.60 | 123.10 |
| 1989 | 5 | 3.39% | 61,038.45 | 123.80 |
| 1989 | 6 | 2.80% | 62,747.64 | 124.10 |
| 1989 | 7 | 4.69% | 65,690.97 | 124.40 |
| 1989 | 8 | 0.46% | 65,990.22 | 124.60 |
| 1989 | 9 | 0.29% | 66,179.12 | 125.00 |
| 1989 | 10 | -1.81% | 64,978.93 | 125.60 |
| 1989 | 11 | 2.74% | 66,757.21 | 125.90 |
| 1989 | 12 | -2.21% | 65,281.06 | 126.10 |
| 1990 | 1 | -2.53% | 63,631.29 | 127.40 |
| 1990 | 2 | 2.71% | 65,353.89 | 128.00 |
| 1990 | 3 | 0.20% | 65,481.98 | 128.70 |
| 1990 | 4 | 3.85% | 68,003.64 | 128.90 |
| 1990 | 5 | 3.17% | 70,159.32 | 129.20 |
| 1990 | 6 | 0.17% | 70,278.40 | 129.90 |
| 1990 | 7 | -7.86% | 64,753.66 | 130.40 |
| 1990 | 8 | -4.34% | 61,942.66 | 131.60 |
| 1990 | 9 | -2.32% | 60,508.21 | 132.70 |
| 1990 | 10 | 2.98% | 62,313.66 | 133.50 |
| 1990 | 11 | 4.59% | 65,171.75 | 133.80 |
| 1990 | 12 | -0.69% | 64,725.21 | 133.80 |
| 1991 | 1 | 11.61% | 72,237.72 | 134.60 |
| 1991 | 2 | 3.04% | 74,437.08 | 134.80 |
| 1991 | 3 | 2.26% | 76,118.49 | 135.00 |
| 1991 | 4 | -0.18% | 75,982.33 | 135.20 |
| 1991 | 5 | 0.35% | 76,245.99 | 135.60 |
| 1991 | 6 | 0.78% | 76,841.08 | 136.00 |
| 1991 | 7 | 2.68% | 78,899.61 | 136.20 |
| 1991 | 8 | -0.30% | 78,660.46 | 136.60 |
| 1991 | 9 | 0.18% | 78,803.34 | 137.20 |
| 1991 | 10 | 0.02% | 78,815.79 | 137.40 |
| 1991 | 11 | 0.94% | 79,552.83 | 137.80 |
| 1991 | 12 | 7.36% | 85,406.35 | 137.90 |
| 1992 | 1 | -0.60% | 84,893.19 | 138.10 |
| 1992 | 2 | -1.01% | 84,033.75 | 138.60 |
| 1992 | 3 | 0.26% | 84,255.85 | 139.30 |
| 1992 | 4 | 2.07% | 85,998.56 | 139.50 |
| 1992 | 5 | -1.33% | 84,855.53 | 139.70 |
| 1992 | 6 | 1.91% | 86,478.08 | 140.20 |
| 1992 | 7 | 0.94% | 87,292.46 | 140.50 |
| 1992 | 8 | 0.38% | 87,622.59 | 140.90 |
| 1992 | 9 | -1.18% | 86,586.84 | 141.30 |
| 1992 | 10 | 2.76% | 88,973.96 | 141.80 |
| 1992 | 11 | 3.27% | 91,884.47 | 142.00 |
| 1992 | 12 | 0.14% | 92,015.77 | 141.90 |
| 1993 | 1 | 1.72% | 93,602.35 | 142.60 |
| 1993 | 2 | 2.15% | 95,614.94 | 143.10 |
| 1993 | 3 | -1.34% | 94,332.04 | 143.60 |
| 1993 | 4 | 0.72% | 95,015.68 | 144.00 |
| 1993 | 5 | 0.87% | 95,837.74 | 144.20 |
| 1993 | 6 | 0.06% | 95,896.21 | 144.40 |
| 1993 | 7 | 1.76% | 97,586.34 | 144.40 |
| 1993 | 8 | 1.35% | 98,908.61 | 144.80 |
| 1993 | 9 | 1.24% | 100,136.96 | 145.10 |
| 1993 | 10 | 0.01% | 100,144.52 | 145.70 |
| 1993 | 11 | 0.89% | 101,032.98 | 145.80 |
| 1993 | 12 | 1.74% | 102,786.79 | 145.80 |
| 1994 | 1 | -0.08% | 102,708.98 | 146.20 |
| 1994 | 2 | -1.42% | 101,246.59 | 146.70 |
| 1994 | 3 | -3.35% | 97,858.50 | 147.20 |
| 1994 | 4 | 1.06% | 98,894.08 | 147.40 |
| 1994 | 5 | 1.11% | 99,989.92 | 147.50 |
| 1994 | 6 | -0.52% | 99,471.10 | 148.00 |
| 1994 | 7 | 3.08% | 102,536.87 | 148.40 |
| 1994 | 8 | 0.82% | 103,375.08 | 149.00 |
| 1994 | 9 | -0.44% | 102,916.08 | 149.40 |
| 1994 | 10 | -0.37% | 102,535.41 | 149.50 |
| 1994 | 11 | -1.03% | 101,483.70 | 149.70 |
| 1994 | 12 | 2.45% | 103,971.24 | 149.70 |
| 1995 | 1 | 3.82% | 107,942.00 | 150.30 |
| 1995 | 2 | 2.56% | 110,703.34 | 150.90 |
| 1995 | 3 | 3.22% | 114,263.07 | 151.40 |
| 1995 | 4 | 3.35% | 118,088.32 | 151.90 |
| 1995 | 5 | 3.18% | 121,841.67 | 152.20 |
| 1995 | 6 | 3.55% | 126,163.97 | 152.50 |
| 1995 | 7 | 0.51% | 126,811.35 | 152.50 |
| 1995 | 8 | 3.72% | 131,525.77 | 152.90 |
| 1995 | 9 | 0.91% | 132,726.03 | 153.20 |
| 1995 | 10 | 2.36% | 135,856.23 | 153.70 |
| 1995 | 11 | 3.39% | 140,460.58 | 153.60 |
| 1995 | 12 | 0.16% | 140,688.94 | 153.50 |
| 1996 | 1 | 5.90% | 148,995.77 | 154.40 |
| 1996 | 2 | -0.20% | 148,696.74 | 154.90 |
| 1996 | 3 | 0.20% | 148,989.73 | 155.70 |
| 1996 | 4 | 2.35% | 152,498.18 | 156.30 |
| 1996 | 5 | 1.28% | 154,448.01 | 156.60 |
| 1996 | 6 | -3.48% | 149,078.53 | 156.70 |
| 1996 | 7 | 3.08% | 153,663.82 | 157.00 |
| 1996 | 8 | 2.02% | 156,773.55 | 157.30 |
| 1996 | 9 | 4.12% | 163,231.84 | 157.80 |
| 1996 | 10 | 5.05% | 171,478.44 | 158.30 |
| 1996 | 11 | 1.20% | 173,533.14 | 158.60 |
| 1996 | 12 | 3.26% | 179,186.05 | 158.60 |
| 1997 | 1 | 4.36% | 187,000.65 | 159.10 |
| 1997 | 2 | -0.62% | 185,834.36 | 159.60 |
| 1997 | 3 | -3.41% | 179,506.24 | 160.00 |
| 1997 | 4 | 9.22% | 196,052.82 | 160.20 |
| 1997 | 5 | 5.34% | 206,515.82 | 160.10 |
| 1997 | 6 | 5.74% | 218,361.41 | 160.30 |
| 1997 | 7 | 0.35% | 219,120.84 | 160.50 |
| 1997 | 8 | 1.19% | 221,732.78 | 160.80 |
| 1997 | 9 | 1.65% | 225,381.12 | 161.20 |
| 1997 | 10 | -1.15% | 222,784.63 | 161.60 |
| 1997 | 11 | 2.63% | 228,654.15 | 161.50 |
| 1997 | 12 | 0.24% | 229,196.27 | 161.30 |
| 1998 | 1 | 6.40% | 243,869.77 | 161.60 |
| 1998 | 2 | 5.31% | 256,826.26 | 161.90 |
| 1998 | 3 | 3.41% | 265,572.93 | 162.20 |
| 1998 | 4 | -0.22% | 264,983.74 | 162.50 |
| 1998 | 5 | 0.12% | 265,292.33 | 162.80 |
| 1998 | 6 | 4.47% | 277,144.71 | 163.00 |
| 1998 | 7 | -6.97% | 257,824.93 | 163.20 |
| 1998 | 8 | -4.90% | 245,195.50 | 163.40 |
| 1998 | 9 | 1.29% | 248,360.63 | 163.60 |
| 1998 | 10 | 10.97% | 275,616.68 | 164.00 |
| 1998 | 11 | 4.10% | 286,928.27 | 164.00 |
| 1998 | 12 | 5.05% | 301,411.51 | 163.90 |
| 1999 | 1 | -0.07% | 301,210.44 | 164.30 |
| 1999 | 2 | 2.92% | 310,016.36 | 164.50 |
| 1999 | 3 | 4.25% | 323,192.12 | 165.00 |
| 1999 | 4 | -0.10% | 322,872.71 | 166.20 |
| 1999 | 5 | -0.61% | 320,897.48 | 166.20 |
| 1999 | 6 | 4.52% | 335,409.70 | 166.20 |
| 1999 | 7 | -3.77% | 322,750.05 | 166.70 |
| 1999 | 8 | -0.60% | 320,819.95 | 167.10 |
| 1999 | 9 | -1.27% | 316,737.61 | 167.90 |
| 1999 | 10 | 7.11% | 339,244.82 | 168.20 |
| 1999 | 11 | 2.81% | 348,773.30 | 168.30 |
| 1999 | 12 | -0.12% | 348,358.49 | 168.30 |
| 2000 | 1 | -2.48% | 339,725.90 | 168.80 |
| 2000 | 2 | 3.94% | 353,114.34 | 169.80 |
| 2000 | 3 | 1.42% | 358,145.04 | 171.20 |
| 2000 | 4 | -2.84% | 347,978.04 | 171.30 |
| 2000 | 5 | 3.16% | 358,986.25 | 171.50 |
| 2000 | 6 | 0.85% | 362,038.87 | 172.40 |
| 2000 | 7 | 0.94% | 365,440.98 | 172.80 |
| 2000 | 8 | -1.08% | 361,495.50 | 172.80 |
| 2000 | 9 | -5.21% | 342,646.29 | 173.70 |
| 2000 | 10 | -0.77% | 339,999.13 | 174.00 |
| 2000 | 11 | -3.32% | 328,710.91 | 174.10 |
| 2000 | 12 | 0.46% | 330,206.57 | 174.00 |
| 2001 | 1 | -2.14% | 323,152.51 | 175.10 |
| 2001 | 2 | -9.08% | 293,810.57 | 175.80 |
| 2001 | 3 | 0.45% | 295,128.88 | 176.20 |
| 2001 | 4 | 6.88% | 315,431.78 | 176.90 |
| 2001 | 5 | -2.39% | 307,897.21 | 177.70 |
| 2001 | 6 | -2.66% | 299,706.45 | 178.00 |
| 2001 | 7 | -2.05% | 293,574.93 | 177.50 |
| 2001 | 8 | -11.25% | 260,555.61 | 177.50 |
| 2001 | 9 | 3.18% | 268,851.78 | 178.30 |
| 2001 | 10 | 5.05% | 282,437.25 | 177.70 |
| 2001 | 11 | 1.47% | 286,577.92 | 177.40 |
| 2001 | 12 | -0.30% | 285,724.81 | 176.70 |
| 2002 | 1 | -3.35% | 276,145.12 | 177.10 |
| 2002 | 2 | 4.95% | 289,801.24 | 177.80 |
| 2002 | 3 | -3.51% | 279,616.37 | 178.80 |
| 2002 | 4 | -2.82% | 271,730.15 | 179.80 |
| 2002 | 5 | -5.92% | 255,641.12 | 179.80 |
| 2002 | 6 | -10.76% | 228,137.97 | 179.90 |
| 2002 | 7 | 1.14% | 230,735.99 | 180.10 |
| 2002 | 8 | -4.76% | 219,758.19 | 180.70 |
| 2002 | 9 | -1.37% | 216,754.01 | 181.00 |
| 2002 | 10 | 6.63% | 231,115.21 | 181.30 |
| 2002 | 11 | -1.04% | 228,723.02 | 181.30 |
| 2002 | 12 | -0.22% | 228,214.08 | 180.90 |
| 2003 | 1 | -6.41% | 213,574.52 | 181.70 |
| 2003 | 2 | 1.31% | 216,367.85 | 183.10 |
| 2003 | 3 | 5.29% | 227,804.75 | 184.20 |
| 2003 | 4 | 5.31% | 239,906.22 | 183.80 |
| 2003 | 5 | 5.70% | 253,590.92 | 183.50 |
| 2003 | 6 | 0.60% | 255,102.07 | 183.70 |
| 2003 | 7 | -0.17% | 254,677.77 | 183.90 |
| 2003 | 8 | 3.16% | 262,728.60 | 184.60 |
| 2003 | 9 | 2.03% | 268,056.28 | 185.20 |
| 2003 | 10 | 1.21% | 271,301.34 | 185.00 |
| 2003 | 11 | 3.06% | 279,613.49 | 184.50 |
| 2003 | 12 | 4.93% | 293,412.31 | 184.30 |
| 2004 | 1 | 1.09% | 296,600.71 | 185.20 |
| 2004 | 2 | -1.57% | 291,958.33 | 186.20 |
| 2004 | 3 | 0.97% | 294,784.89 | 187.40 |
| 2004 | 4 | -2.56% | 287,225.85 | 188.00 |
| 2004 | 5 | 2.86% | 295,433.84 | 189.10 |
| 2004 | 6 | -2.24% | 288,819.73 | 189.70 |
| 2004 | 7 | -1.39% | 284,812.15 | 189.40 |
| 2004 | 8 | 2.78% | 292,737.40 | 189.50 |
| 2004 | 9 | 0.10% | 293,037.74 | 189.90 |
| 2004 | 10 | 4.77% | 307,027.06 | 190.90 |
| 2004 | 11 | 2.73% | 315,401.06 | 191.00 |
| 2004 | 12 | -1.35% | 311,145.60 | 190.30 |
| 2005 | 1 | 1.68% | 316,376.60 | 190.70 |
| 2005 | 2 | -0.26% | 315,567.98 | 191.80 |
| 2005 | 3 | -2.41% | 307,966.20 | 193.30 |
| 2005 | 4 | 1.34% | 312,080.23 | 194.60 |
| 2005 | 5 | 2.18% | 318,885.76 | 194.40 |
| 2005 | 6 | 1.81% | 324,650.55 | 194.50 |
| 2005 | 7 | 0.31% | 325,657.02 | 195.40 |
| 2005 | 8 | 0.28% | 326,567.85 | 196.40 |
| 2005 | 9 | -2.62% | 317,998.00 | 198.80 |
| 2005 | 10 | 3.96% | 330,595.62 | 199.20 |
| 2005 | 11 | 2.14% | 337,684.03 | 197.60 |
| 2005 | 12 | 1.47% | 342,637.07 | 196.80 |
| 2006 | 1 | -0.02% | 342,580.06 | 198.30 |
| 2006 | 2 | 1.49% | 347,671.27 | 198.70 |
| 2006 | 3 | 0.80% | 350,446.84 | 199.80 |
| 2006 | 4 | -0.79% | 347,690.10 | 201.50 |
| 2006 | 5 | -2.71% | 338,282.33 | 202.50 |
| 2006 | 6 | 0.72% | 340,718.10 | 202.90 |
| 2006 | 7 | 2.29% | 348,526.54 | 203.50 |
| 2006 | 8 | 2.53% | 357,348.35 | 203.90 |
| 2006 | 9 | 3.62% | 370,269.75 | 202.90 |
| 2006 | 10 | 2.00% | 377,681.23 | 201.80 |
| 2006 | 11 | 2.15% | 385,794.82 | 201.50 |
| 2006 | 12 | 0.69% | 388,467.71 | 201.80 |
| 2007 | 1 | 1.60% | 394,667.84 | 202.42 |
| 2007 | 2 | -2.47% | 384,904.19 | 203.50 |
| 2007 | 3 | 4.18% | 400,994.19 | 205.35 |
| 2007 | 4 | 3.39% | 414,594.92 | 206.69 |
| 2007 | 5 | 0.34% | 416,024.86 | 207.95 |
| 2007 | 6 | 0.57% | 418,415.43 | 208.35 |
| 2007 | 7 | -4.20% | 400,837.34 | 208.30 |
| 2007 | 8 | 3.07% | 413,162.06 | 207.92 |
| 2007 | 9 | 2.99% | 425,522.35 | 208.49 |
| 2007 | 10 | -4.81% | 405,070.43 | 208.94 |
| 2007 | 11 | 1.24% | 410,086.10 | 210.18 |
| 2007 | 12 | -6.64% | 382,876.07 | 210.04 |
| 2008 | 1 | -1.56% | 376,888.02 | 211.08 |
| 2008 | 2 | -2.63% | 366,988.55 | 211.69 |
| 2008 | 3 | 4.24% | 382,562.82 | 213.53 |
| 2008 | 4 | 2.56% | 392,366.39 | 214.82 |
| 2008 | 5 | -4.25% | 375,704.23 | 216.63 |
| 2008 | 6 | -6.08% | 352,867.15 | 218.82 |
| 2008 | 7 | 2.11% | 360,314.54 | 219.96 |
| 2008 | 8 | -4.85% | 342,848.16 | 219.09 |
| 2008 | 9 | -20.19% | 273,614.83 | 218.78 |
| 2008 | 10 | -8.61% | 250,069.32 | 216.57 |
| 2008 | 11 | -0.35% | 249,191.03 | 212.43 |
| 2008 | 12 | -1.10% | 246,461.00 | 210.23 |
| 2009 | 1 | -6.70% | 229,941.94 | 211.14 |
| 2009 | 2 | -5.69% | 216,864.14 | 212.19 |
| 2009 | 3 | 12.32% | 243,585.59 | 212.71 |
| 2009 | 4 | 6.66% | 259,807.96 | 213.24 |
| 2009 | 5 | 2.87% | 267,261.49 | 213.86 |
| 2009 | 6 | 1.28% | 270,676.13 | 215.69 |
| 2009 | 7 | 8.12% | 292,657.05 | 215.35 |
| 2009 | 8 | 3.65% | 303,340.04 | 215.83 |
| 2009 | 9 | 2.40% | 310,629.63 | 215.97 |
| 2009 | 10 | 2.09% | 317,135.23 | 216.18 |
| 2009 | 11 | 2.23% | 324,194.20 | 216.33 |
| 2009 | 12 | 1.36% | 328,593.42 | 215.95 |
| 2010 | 1 | -2.90% | 319,069.22 | 216.69 |
| 2010 | 2 | 5.94% | 338,031.62 | 216.74 |
| 2010 | 3 | 4.09% | 351,850.12 | 217.63 |
| 2010 | 4 | -5.88% | 331,152.90 | 218.01 |
| 2010 | 5 | -3.54% | 319,418.28 | 218.18 |
| 2010 | 6 | -0.16% | 318,910.17 | 217.97 |
| 2010 | 7 | 0.86% | 321,664.32 | 218.01 |
| 2010 | 8 | 3.37% | 332,508.12 | 218.31 |
| 2010 | 9 | 4.58% | 347,728.47 | 218.44 |
| 2010 | 10 | 2.49% | 356,390.09 | 218.71 |
| 2010 | 11 | 3.71% | 369,625.47 | 218.80 |
| 2010 | 12 | 3.46% | 382,422.62 | 219.18 |
| 2011 | 1 | 3.15% | 394,472.24 | 220.22 |
| 2011 | 2 | -1.11% | 390,083.89 | 221.31 |
| 2011 | 3 | 2.22% | 398,747.59 | 223.47 |
| 2011 | 4 | 0.66% | 401,376.27 | 224.91 |
| 2011 | 5 | -3.66% | 386,675.46 | 225.96 |
| 2011 | 6 | 3.10% | 398,669.11 | 225.72 |
| 2011 | 7 | -10.40% | 357,204.94 | 225.92 |
| 2011 | 8 | -0.79% | 354,385.72 | 226.55 |
| 2011 | 9 | 3.02% | 365,084.29 | 226.89 |
| 2011 | 10 | 1.77% | 371,535.78 | 226.42 |
| 2011 | 11 | 1.55% | 377,312.24 | 226.23 |
| 2011 | 12 | 4.78% | 395,357.41 | 225.67 |
| 2012 | 1 | 4.16% | 411,814.60 | 226.67 |
| 2012 | 2 | 2.88% | 423,690.66 | 227.66 |
| 2012 | 3 | -0.04% | 423,528.77 | 229.39 |
| 2012 | 4 | -3.09% | 410,437.69 | 230.09 |
| 2012 | 5 | -1.15% | 405,707.76 | 229.82 |
| 2012 | 6 | 2.92% | 417,558.84 | 229.48 |
| 2012 | 7 | 3.39% | 431,704.48 | 229.10 |
| 2012 | 8 | 3.02% | 444,746.99 | 230.38 |
| 2012 | 9 | -0.22% | 443,781.29 | 231.41 |
| 2012 | 10 | -2.84% | 431,189.03 | 231.32 |
| 2012 | 11 | 2.18% | 440,569.69 | 230.22 |
| 2012 | 12 | 4.27% | 459,376.56 | 229.60 |
| 2013 | 1 | 2.33% | 470,093.92 | 230.28 |
| 2013 | 2 | 2.72% | 482,892.01 | 232.17 |
| 2013 | 3 | 1.45% | 489,912.25 | 232.77 |
| 2013 | 4 | 4.57% | 512,322.16 | 232.53 |
| 2013 | 5 | -1.12% | 506,595.55 | 232.95 |
| 2013 | 6 | 3.25% | 523,082.59 | 233.50 |
| 2013 | 7 | 0.25% | 524,403.52 | 233.60 |
| 2013 | 8 | 1.19% | 530,656.86 | 233.88 |
| 2013 | 9 | 2.12% | 541,893.78 | 234.15 |
| 2013 | 10 | 3.86% | 562,810.85 | 233.55 |
| 2013 | 11 | 1.52% | 571,374.93 | 233.07 |
| 2013 | 12 | 0.97% | 576,904.74 | 233.05 |
| 2014 | 1 | -0.13% | 576,154.56 | 233.92 |
| 2014 | 2 | 2.72% | 591,839.03 | 234.78 |
| 2014 | 3 | 0.20% | 593,032.92 | 236.29 |
| 2014 | 4 | 1.53% | 602,118.39 | 237.07 |
| 2014 | 5 | 3.20% | 621,364.00 | 237.90 |
| 2014 | 6 | 1.50% | 630,658.50 | 238.34 |
| 2014 | 7 | -0.43% | 627,965.90 | 238.25 |
| 2014 | 8 | 1.78% | 639,131.35 | 237.85 |
| 2014 | 9 | -2.65% | 622,216.20 | 238.03 |
| 2014 | 10 | 5.71% | 657,717.69 | 237.43 |
| 2014 | 11 | 0.63% | 661,886.89 | 236.15 |
| 2014 | 12 | -1.11% | 654,539.64 | 234.81 |
| 2015 | 1 | 2.83% | 673,046.08 | 233.71 |
| 2015 | 2 | 0.06% | 673,418.70 | 234.72 |
| 2015 | 3 | 0.88% | 679,334.08 | 236.12 |
| 2015 | 4 | 0.98% | 685,984.11 | 236.60 |
| 2015 | 5 | -0.44% | 682,996.64 | 237.81 |
| 2015 | 6 | -0.08% | 682,452.77 | 238.64 |
| 2015 | 7 | -2.42% | 665,907.41 | 238.65 |
| 2015 | 8 | -4.51% | 635,894.32 | 238.32 |
| 2015 | 9 | 4.32% | 663,346.64 | 237.95 |
| 2015 | 10 | 2.93% | 682,799.08 | 237.84 |
| 2015 | 11 | -1.10% | 675,268.01 | 237.34 |
| 2015 | 12 | -6.42% | 631,918.36 | 236.53 |
| 2016 | 1 | -0.55% | 628,443.38 | 236.92 |
| 2016 | 2 | 6.36% | 668,429.52 | 237.11 |
| 2016 | 3 | 2.83% | 687,354.50 | 238.13 |
| 2016 | 4 | -0.30% | 685,262.43 | 239.26 |
| 2016 | 5 | 1.07% | 692,570.69 | 240.23 |
| 2016 | 6 | 3.30% | 715,407.79 | 241.02 |
| 2016 | 7 | 1.20% | 723,987.36 | 240.63 |
| 2016 | 8 | -0.44% | 720,811.44 | 240.85 |
| 2016 | 9 | -0.51% | 717,164.27 | 241.43 |
| 2016 | 10 | 1.20% | 725,778.57 | 241.73 |
| 2016 | 11 | 3.95% | 754,417.53 | 241.35 |
| 2016 | 12 | 1.44% | 765,263.29 | 241.43 |
| 2017 | 1 | 2.58% | 784,979.88 | 242.84 |
| 2017 | 2 | 1.75% | 798,711.20 | 243.60 |
| 2017 | 3 | -0.15% | 797,481.15 | 243.80 |
| 2017 | 4 | 1.69% | 810,977.51 | 244.52 |
| 2017 | 5 | 1.78% | 825,383.94 | 244.73 |
| 2017 | 6 | 0.99% | 833,537.78 | 244.96 |
| 2017 | 7 | 0.25% | 835,603.33 | 244.79 |
| 2017 | 8 | 1.65% | 849,418.05 | 245.52 |
| 2017 | 9 | 2.73% | 872,647.93 | 246.82 |
| 2017 | 10 | 1.59% | 886,519.27 | 246.66 |
| 2017 | 11 | 2.88% | 912,081.93 | 246.67 |
| 2017 | 12 | 4.86% | 956,426.42 | 246.52 |
| 2018 | 1 | -2.89% | 928,817.39 | 247.87 |
| 2018 | 2 | 0.06% | 929,417.21 | 248.99 |
| 2018 | 3 | -1.66% | 913,951.96 | 249.55 |
| 2018 | 4 | 1.96% | 931,880.24 | 250.55 |
| 2018 | 5 | 2.11% | 951,570.59 | 251.59 |
| 2018 | 6 | 1.58% | 966,612.46 | 251.99 |
| 2018 | 7 | 2.45% | 990,302.25 | 252.01 |
| 2018 | 8 | 1.68% | 1,006,936.83 | 252.15 |
| 2018 | 9 | -3.85% | 968,179.97 | 252.44 |
| 2018 | 10 | -2.08% | 948,079.50 | 252.89 |
| 2018 | 11 | -5.56% | 895,342.47 | 252.04 |
| 2018 | 12 | 1.74% | 910,882.36 | 251.23 |
| 2019 | 1 | 5.83% | 963,976.80 | 251.71 |
| 2019 | 2 | 1.95% | 982,755.28 | 252.78 |
| 2019 | 3 | 3.72% | 1,019,345.42 | 254.20 |
| 2019 | 4 | -1.53% | 1,003,731.20 | 255.55 |
| 2019 | 5 | 1.40% | 1,017,831.11 | 256.09 |
| 2019 | 6 | 3.83% | 1,056,787.00 | 256.14 |
| 2019 | 7 | -3.13% | 1,023,662.92 | 256.57 |
| 2019 | 8 | 3.09% | 1,055,245.25 | 256.56 |
| 2019 | 9 | 0.01% | 1,055,348.70 | 256.76 |
| 2019 | 10 | 4.43% | 1,102,139.61 | 257.35 |
| 2019 | 11 | 2.47% | 1,129,354.96 | 257.21 |
| 2019 | 12 | 3.35% | 1,167,147.67 | 256.97 |
| 2020 | 1 | 0.12% | 1,168,572.48 | 257.97 |
| 2020 | 2 | -18.92% | 947,505.34 | 258.68 |
| 2020 | 3 | 4.32% | 988,424.45 | 258.12 |
| 2020 | 4 | 5.89% | 1,046,616.60 | 256.39 |
| 2020 | 5 | 6.51% | 1,114,733.26 | 256.39 |
| 2020 | 6 | 3.48% | 1,153,486.23 | 257.80 |
| 2020 | 7 | 5.89% | 1,221,467.00 | 259.10 |
| 2020 | 8 | -0.63% | 1,213,808.37 | 259.92 |
| 2020 | 9 | 1.73% | 1,234,758.72 | 260.28 |
| 2020 | 10 | 3.95% | 1,283,582.52 | 260.39 |
| 2020 | 11 | 4.26% | 1,338,264.17 | 260.23 |
| 2020 | 12 | 2.80% | 1,375,672.66 | 260.47 |
| 2021 | 1 | 2.49% | 1,409,947.94 | 261.58 |
| 2021 | 2 | 0.82% | 1,421,528.65 | 263.01 |
| 2021 | 3 | 6.02% | 1,507,125.80 | 264.88 |
| 2021 | 4 | 0.76% | 1,518,583.45 | 267.05 |
| 2021 | 5 | 1.81% | 1,546,076.23 | 269.20 |
| 2021 | 6 | 3.07% | 1,593,512.96 | 271.70 |
| 2021 | 7 | 2.19% | 1,628,333.80 | 273.00 |
| 2021 | 8 | -0.08% | 1,626,957.88 | 273.57 |
| 2021 | 9 | 0.45% | 1,634,314.59 | 274.31 |
| 2021 | 10 | 4.74% | 1,711,858.64 | 276.59 |
| 2021 | 11 | 0.27% | 1,716,401.97 | 277.95 |
| 2021 | 12 | -2.05% | 1,681,182.21 | 278.80 |
| 2022 | 1 | -2.90% | 1,632,384.73 | 281.15 |
| 2022 | 2 | -0.89% | 1,617,814.33 | 283.72 |
| 2022 | 3 | 0.12% | 1,619,728.23 | 287.50 |
| 2022 | 4 | -7.87% | 1,492,211.40 | 289.11 |
| 2022 | 5 | -3.37% | 1,441,933.05 | 292.30 |
| 2022 | 6 | 0.46% | 1,448,633.50 | 296.31 |
| 2022 | 7 | 6.45% | 1,542,032.61 | 296.28 |
| 2022 | 8 | -7.28% | 1,429,812.66 | 296.17 |
| 2022 | 9 | -3.09% | 1,385,614.65 | 296.81 |
| 2022 | 10 | 5.29% | 1,458,845.69 | 298.01 |
| 2022 | 11 | 0.01% | 1,459,003.79 | 297.71 |
| 2022 | 12 | 1.38% | 1,479,086.34 | 296.80 |
| 2023 | 1 | 3.15% | 1,525,632.77 | 299.17 |
| 2023 | 2 | -2.59% | 1,486,188.65 | 300.84 |
| 2023 | 3 | 4.00% | 1,545,580.03 | 301.84 |
| 2023 | 4 | 0.74% | 1,556,981.70 | 303.36 |
| 2023 | 5 | 4.94% | 1,633,930.65 | 304.13 |
| 2023 | 6 | 3.88% | 1,697,262.49 | 305.11 |
| 2023 | 7 | -1.00% | 1,680,329.97 | 305.69 |
| 2023 | 8 | -0.95% | 1,664,306.73 | 307.03 |
| 2023 | 9 | -3.04% | 1,613,756.53 | 307.79 |
| 2023 | 10 | 4.60% | 1,688,017.15 | 307.67 |
| 2023 | 11 | 5.18% | 1,775,376.20 | 307.05 |
| 2023 | 12 | 2.91% | 1,827,072.26 | 306.75 |
Click to show 522 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 $12,000.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $12,000.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1979. This would result in a final amount of $1,576,118.58, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $1,827,072.26).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1979 | 1 | 500.00 | 492.58 |
| 1979 | 2 | 500.00 | 1,013.63 |
| 1979 | 3 | 500.00 | 1,548.26 |
| 1979 | 4 | 500.00 | 2,007.34 |
| 1979 | 5 | 500.00 | 2,565.75 |
| 1979 | 6 | 500.00 | 3,107.12 |
| 1979 | 7 | 500.00 | 3,785.81 |
| 1979 | 8 | 500.00 | 4,349.71 |
| 1979 | 9 | 500.00 | 4,685.01 |
| 1979 | 10 | 500.00 | 5,166.08 |
| 1979 | 11 | 500.00 | 5,913.36 |
| 1979 | 12 | 500.00 | 6,623.62 |
| 1980 | 1 | 500.00 | 7,434.62 |
| 1980 | 2 | 500.00 | 7,236.05 |
| 1980 | 3 | 500.00 | 7,643.85 |
| 1980 | 4 | 500.00 | 8,551.62 |
| 1980 | 5 | 500.00 | 9,670.52 |
| 1980 | 6 | 500.00 | 10,673.78 |
| 1980 | 7 | 500.00 | 11,563.31 |
| 1980 | 8 | 500.00 | 12,403.37 |
| 1980 | 9 | 500.00 | 13,330.37 |
| 1980 | 10 | 500.00 | 14,466.65 |
| 1980 | 11 | 500.00 | 14,778.47 |
| 1980 | 12 | 500.00 | 15,278.07 |
| 1981 | 1 | - | 14,809.01 |
| 1981 | 2 | - | 15,422.59 |
| 1981 | 3 | - | 15,622.12 |
| 1981 | 4 | - | 15,369.47 |
| 1981 | 5 | - | 15,501.28 |
| 1981 | 6 | - | 15,188.73 |
| 1981 | 7 | - | 15,310.63 |
| 1981 | 8 | - | 14,039.44 |
| 1981 | 9 | - | 14,281.94 |
| 1981 | 10 | - | 14,716.64 |
| 1981 | 11 | - | 14,890.20 |
| 1981 | 12 | - | 14,174.86 |
| 1982 | 1 | - | 13,903.57 |
| 1982 | 2 | - | 13,521.98 |
| 1982 | 3 | - | 14,261.54 |
| 1982 | 4 | - | 14,342.78 |
| 1982 | 5 | - | 13,586.83 |
| 1982 | 6 | - | 13,619.96 |
| 1982 | 7 | - | 13,728.10 |
| 1982 | 8 | - | 15,388.70 |
| 1982 | 9 | - | 16,755.43 |
| 1982 | 10 | - | 17,509.41 |
| 1982 | 11 | - | 17,746.75 |
| 1982 | 12 | - | 18,443.44 |
| 1983 | 1 | - | 18,836.29 |
| 1983 | 2 | - | 19,564.43 |
| 1983 | 3 | - | 20,385.63 |
| 1983 | 4 | - | 21,287.49 |
| 1983 | 5 | - | 21,660.77 |
| 1983 | 6 | - | 21,814.15 |
| 1983 | 7 | - | 21,289.05 |
| 1983 | 8 | - | 21,994.53 |
| 1983 | 9 | - | 22,137.04 |
| 1983 | 10 | - | 21,884.36 |
| 1983 | 11 | - | 21,856.32 |
| 1983 | 12 | - | 22,200.76 |
| 1984 | 1 | - | 21,065.82 |
| 1984 | 2 | - | 21,159.00 |
| 1984 | 3 | - | 21,266.32 |
| 1984 | 4 | - | 21,212.61 |
| 1984 | 5 | - | 20,820.54 |
| 1984 | 6 | - | 20,631.39 |
| 1984 | 7 | - | 22,530.83 |
| 1984 | 8 | - | 22,847.84 |
| 1984 | 9 | - | 22,753.61 |
| 1984 | 10 | - | 23,046.20 |
| 1984 | 11 | - | 22,883.14 |
| 1984 | 12 | - | 23,958.09 |
| 1985 | 1 | - | 25,344.63 |
| 1985 | 2 | - | 25,223.40 |
| 1985 | 3 | - | 25,481.87 |
| 1985 | 4 | - | 26,178.96 |
| 1985 | 5 | - | 26,836.30 |
| 1985 | 6 | - | 27,439.37 |
| 1985 | 7 | - | 26,933.03 |
| 1985 | 8 | - | 26,425.35 |
| 1985 | 9 | - | 26,820.55 |
| 1985 | 10 | - | 28,542.57 |
| 1985 | 11 | - | 30,053.76 |
| 1985 | 12 | - | 30,279.68 |
| 1986 | 1 | - | 32,004.79 |
| 1986 | 2 | - | 33,983.58 |
| 1986 | 3 | - | 34,915.21 |
| 1986 | 4 | - | 35,086.93 |
| 1986 | 5 | - | 36,186.29 |
| 1986 | 6 | - | 35,533.52 |
| 1986 | 7 | - | 36,343.99 |
| 1986 | 8 | - | 35,451.30 |
| 1986 | 9 | - | 35,419.44 |
| 1986 | 10 | - | 36,670.79 |
| 1986 | 11 | - | 37,297.47 |
| 1986 | 12 | - | 39,786.47 |
| 1987 | 1 | - | 42,357.42 |
| 1987 | 2 | - | 44,211.15 |
| 1987 | 3 | - | 43,832.52 |
| 1987 | 4 | - | 43,908.28 |
| 1987 | 5 | - | 45,883.47 |
| 1987 | 6 | - | 47,316.00 |
| 1987 | 7 | - | 50,369.78 |
| 1987 | 8 | - | 48,843.36 |
| 1987 | 9 | - | 43,053.52 |
| 1987 | 10 | - | 37,756.47 |
| 1987 | 11 | - | 37,252.53 |
| 1987 | 12 | - | 38,834.48 |
| 1988 | 1 | - | 40,127.11 |
| 1988 | 2 | - | 41,424.04 |
| 1988 | 3 | - | 41,057.02 |
| 1988 | 4 | - | 40,158.58 |
| 1988 | 5 | - | 42,567.37 |
| 1988 | 6 | - | 42,436.72 |
| 1988 | 7 | - | 41,707.45 |
| 1988 | 8 | - | 42,511.23 |
| 1988 | 9 | - | 44,127.34 |
| 1988 | 10 | - | 43,235.86 |
| 1988 | 11 | - | 44,241.50 |
| 1988 | 12 | - | 45,795.56 |
| 1989 | 1 | - | 47,306.74 |
| 1989 | 2 | - | 47,230.27 |
| 1989 | 3 | - | 48,913.93 |
| 1989 | 4 | - | 50,926.89 |
| 1989 | 5 | - | 52,654.64 |
| 1989 | 6 | - | 54,129.07 |
| 1989 | 7 | - | 56,668.13 |
| 1989 | 8 | - | 56,926.27 |
| 1989 | 9 | - | 57,089.23 |
| 1989 | 10 | - | 56,053.88 |
| 1989 | 11 | - | 57,587.91 |
| 1989 | 12 | - | 56,314.52 |
| 1990 | 1 | - | 54,891.34 |
| 1990 | 2 | - | 56,377.34 |
| 1990 | 3 | - | 56,487.84 |
| 1990 | 4 | - | 58,663.14 |
| 1990 | 5 | - | 60,522.74 |
| 1990 | 6 | - | 60,625.46 |
| 1990 | 7 | - | 55,859.55 |
| 1990 | 8 | - | 53,434.66 |
| 1990 | 9 | - | 52,197.23 |
| 1990 | 10 | - | 53,754.70 |
| 1990 | 11 | - | 56,220.22 |
| 1990 | 12 | - | 55,835.01 |
| 1991 | 1 | - | 62,315.66 |
| 1991 | 2 | - | 64,212.93 |
| 1991 | 3 | - | 65,663.39 |
| 1991 | 4 | - | 65,545.93 |
| 1991 | 5 | - | 65,773.39 |
| 1991 | 6 | - | 66,286.74 |
| 1991 | 7 | - | 68,062.52 |
| 1991 | 8 | - | 67,856.22 |
| 1991 | 9 | - | 67,979.48 |
| 1991 | 10 | - | 67,990.21 |
| 1991 | 11 | - | 68,626.02 |
| 1991 | 12 | - | 73,675.54 |
| 1992 | 1 | - | 73,232.86 |
| 1992 | 2 | - | 72,491.47 |
| 1992 | 3 | - | 72,683.06 |
| 1992 | 4 | - | 74,186.41 |
| 1992 | 5 | - | 73,200.38 |
| 1992 | 6 | - | 74,600.07 |
| 1992 | 7 | - | 75,302.59 |
| 1992 | 8 | - | 75,587.37 |
| 1992 | 9 | - | 74,693.89 |
| 1992 | 10 | - | 76,753.13 |
| 1992 | 11 | - | 79,263.88 |
| 1992 | 12 | - | 79,377.14 |
| 1993 | 1 | - | 80,745.80 |
| 1993 | 2 | - | 82,481.95 |
| 1993 | 3 | - | 81,375.26 |
| 1993 | 4 | - | 81,965.00 |
| 1993 | 5 | - | 82,674.15 |
| 1993 | 6 | - | 82,724.58 |
| 1993 | 7 | - | 84,182.58 |
| 1993 | 8 | - | 85,323.23 |
| 1993 | 9 | - | 86,382.86 |
| 1993 | 10 | - | 86,389.38 |
| 1993 | 11 | - | 87,155.81 |
| 1993 | 12 | - | 88,668.73 |
| 1994 | 1 | - | 88,601.61 |
| 1994 | 2 | - | 87,340.08 |
| 1994 | 3 | - | 84,417.35 |
| 1994 | 4 | - | 85,310.69 |
| 1994 | 5 | - | 86,256.01 |
| 1994 | 6 | - | 85,808.45 |
| 1994 | 7 | - | 88,453.14 |
| 1994 | 8 | - | 89,176.21 |
| 1994 | 9 | - | 88,780.26 |
| 1994 | 10 | - | 88,451.88 |
| 1994 | 11 | - | 87,544.62 |
| 1994 | 12 | - | 89,690.49 |
| 1995 | 1 | - | 93,115.86 |
| 1995 | 2 | - | 95,497.92 |
| 1995 | 3 | - | 98,568.70 |
| 1995 | 4 | - | 101,868.55 |
| 1995 | 5 | - | 105,106.36 |
| 1995 | 6 | - | 108,834.99 |
| 1995 | 7 | - | 109,393.44 |
| 1995 | 8 | - | 113,460.33 |
| 1995 | 9 | - | 114,495.73 |
| 1995 | 10 | - | 117,195.98 |
| 1995 | 11 | - | 121,167.91 |
| 1995 | 12 | - | 121,364.91 |
| 1996 | 1 | - | 128,530.77 |
| 1996 | 2 | - | 128,272.81 |
| 1996 | 3 | - | 128,525.56 |
| 1996 | 4 | - | 131,552.11 |
| 1996 | 5 | - | 133,234.13 |
| 1996 | 6 | - | 128,602.16 |
| 1996 | 7 | - | 132,557.65 |
| 1996 | 8 | - | 135,240.25 |
| 1996 | 9 | - | 140,811.47 |
| 1996 | 10 | - | 147,925.38 |
| 1996 | 11 | - | 149,697.86 |
| 1996 | 12 | - | 154,574.33 |
| 1997 | 1 | - | 161,315.57 |
| 1997 | 2 | - | 160,309.47 |
| 1997 | 3 | - | 154,850.54 |
| 1997 | 4 | - | 169,124.40 |
| 1997 | 5 | - | 178,150.27 |
| 1997 | 6 | - | 188,368.83 |
| 1997 | 7 | - | 189,023.96 |
| 1997 | 8 | - | 191,277.14 |
| 1997 | 9 | - | 194,424.37 |
| 1997 | 10 | - | 192,184.52 |
| 1997 | 11 | - | 197,247.84 |
| 1997 | 12 | - | 197,715.49 |
| 1998 | 1 | - | 210,373.55 |
| 1998 | 2 | - | 221,550.43 |
| 1998 | 3 | - | 229,095.72 |
| 1998 | 4 | - | 228,587.45 |
| 1998 | 5 | - | 228,853.66 |
| 1998 | 6 | - | 239,078.08 |
| 1998 | 7 | - | 222,411.93 |
| 1998 | 8 | - | 211,517.19 |
| 1998 | 9 | - | 214,247.57 |
| 1998 | 10 | - | 237,759.93 |
| 1998 | 11 | - | 247,517.84 |
| 1998 | 12 | - | 260,011.77 |
| 1999 | 1 | - | 259,838.31 |
| 1999 | 2 | - | 267,434.71 |
| 1999 | 3 | - | 278,800.75 |
| 1999 | 4 | - | 278,525.20 |
| 1999 | 5 | - | 276,821.28 |
| 1999 | 6 | - | 289,340.21 |
| 1999 | 7 | - | 278,419.39 |
| 1999 | 8 | - | 276,754.40 |
| 1999 | 9 | - | 273,232.78 |
| 1999 | 10 | - | 292,648.56 |
| 1999 | 11 | - | 300,868.27 |
| 1999 | 12 | - | 300,510.44 |
| 2000 | 1 | - | 293,063.56 |
| 2000 | 2 | - | 304,613.06 |
| 2000 | 3 | - | 308,952.78 |
| 2000 | 4 | - | 300,182.24 |
| 2000 | 5 | - | 309,678.45 |
| 2000 | 6 | - | 312,311.78 |
| 2000 | 7 | - | 315,246.60 |
| 2000 | 8 | - | 311,843.04 |
| 2000 | 9 | - | 295,582.83 |
| 2000 | 10 | - | 293,299.26 |
| 2000 | 11 | - | 283,561.51 |
| 2000 | 12 | - | 284,851.74 |
| 2001 | 1 | - | 278,766.57 |
| 2001 | 2 | - | 253,454.84 |
| 2001 | 3 | - | 254,592.07 |
| 2001 | 4 | - | 272,106.31 |
| 2001 | 5 | - | 265,606.64 |
| 2001 | 6 | - | 258,540.90 |
| 2001 | 7 | - | 253,251.56 |
| 2001 | 8 | - | 224,767.54 |
| 2001 | 9 | - | 231,924.21 |
| 2001 | 10 | - | 243,643.68 |
| 2001 | 11 | - | 247,215.61 |
| 2001 | 12 | - | 246,479.68 |
| 2002 | 1 | - | 238,215.78 |
| 2002 | 2 | - | 249,996.20 |
| 2002 | 3 | - | 241,210.25 |
| 2002 | 4 | - | 234,407.23 |
| 2002 | 5 | - | 220,528.07 |
| 2002 | 6 | - | 196,802.56 |
| 2002 | 7 | - | 199,043.73 |
| 2002 | 8 | - | 189,573.77 |
| 2002 | 9 | - | 186,982.21 |
| 2002 | 10 | - | 199,370.86 |
| 2002 | 11 | - | 197,307.25 |
| 2002 | 12 | - | 196,868.21 |
| 2003 | 1 | - | 184,239.44 |
| 2003 | 2 | - | 186,649.10 |
| 2003 | 3 | - | 196,515.11 |
| 2003 | 4 | - | 206,954.41 |
| 2003 | 5 | - | 218,759.47 |
| 2003 | 6 | - | 220,063.06 |
| 2003 | 7 | - | 219,697.04 |
| 2003 | 8 | - | 226,642.06 |
| 2003 | 9 | - | 231,237.98 |
| 2003 | 10 | - | 234,037.31 |
| 2003 | 11 | - | 241,207.77 |
| 2003 | 12 | - | 253,111.28 |
| 2004 | 1 | - | 255,861.74 |
| 2004 | 2 | - | 251,857.01 |
| 2004 | 3 | - | 254,295.33 |
| 2004 | 4 | - | 247,774.55 |
| 2004 | 5 | - | 254,855.15 |
| 2004 | 6 | - | 249,149.50 |
| 2004 | 7 | - | 245,692.38 |
| 2004 | 8 | - | 252,529.07 |
| 2004 | 9 | - | 252,788.16 |
| 2004 | 10 | - | 264,856.00 |
| 2004 | 11 | - | 272,079.81 |
| 2004 | 12 | - | 268,408.85 |
| 2005 | 1 | - | 272,921.36 |
| 2005 | 2 | - | 272,223.80 |
| 2005 | 3 | - | 265,666.15 |
| 2005 | 4 | - | 269,215.11 |
| 2005 | 5 | - | 275,085.87 |
| 2005 | 6 | - | 280,058.85 |
| 2005 | 7 | - | 280,927.09 |
| 2005 | 8 | - | 281,712.81 |
| 2005 | 9 | - | 274,320.05 |
| 2005 | 10 | - | 285,187.35 |
| 2005 | 11 | - | 291,302.14 |
| 2005 | 12 | - | 295,574.88 |
| 2006 | 1 | - | 295,525.69 |
| 2006 | 2 | - | 299,917.61 |
| 2006 | 3 | - | 302,311.95 |
| 2006 | 4 | - | 299,933.86 |
| 2006 | 5 | - | 291,818.27 |
| 2006 | 6 | - | 293,919.48 |
| 2006 | 7 | - | 300,655.40 |
| 2006 | 8 | - | 308,265.51 |
| 2006 | 9 | - | 319,412.13 |
| 2006 | 10 | - | 325,805.62 |
| 2006 | 11 | - | 332,804.79 |
| 2006 | 12 | - | 335,110.55 |
| 2007 | 1 | - | 340,459.07 |
| 2007 | 2 | - | 332,036.48 |
| 2007 | 3 | - | 345,916.47 |
| 2007 | 4 | - | 357,649.11 |
| 2007 | 5 | - | 358,882.64 |
| 2007 | 6 | - | 360,944.85 |
| 2007 | 7 | - | 345,781.17 |
| 2007 | 8 | - | 356,413.05 |
| 2007 | 9 | - | 367,075.62 |
| 2007 | 10 | - | 349,432.83 |
| 2007 | 11 | - | 353,759.58 |
| 2007 | 12 | - | 330,286.93 |
| 2008 | 1 | - | 325,121.36 |
| 2008 | 2 | - | 316,581.61 |
| 2008 | 3 | - | 330,016.70 |
| 2008 | 4 | - | 338,473.73 |
| 2008 | 5 | - | 324,100.16 |
| 2008 | 6 | - | 304,399.83 |
| 2008 | 7 | - | 310,824.29 |
| 2008 | 8 | - | 295,756.97 |
| 2008 | 9 | - | 236,033.04 |
| 2008 | 10 | - | 215,721.57 |
| 2008 | 11 | - | 214,963.92 |
| 2008 | 12 | - | 212,608.87 |
| 2009 | 1 | - | 198,358.75 |
| 2009 | 2 | - | 187,077.22 |
| 2009 | 3 | - | 210,128.40 |
| 2009 | 4 | - | 224,122.58 |
| 2009 | 5 | - | 230,552.35 |
| 2009 | 6 | - | 233,497.98 |
| 2009 | 7 | - | 252,459.76 |
| 2009 | 8 | - | 261,675.41 |
| 2009 | 9 | - | 267,963.75 |
| 2009 | 10 | - | 273,575.78 |
| 2009 | 11 | - | 279,665.19 |
| 2009 | 12 | - | 283,460.16 |
| 2010 | 1 | - | 275,244.14 |
| 2010 | 2 | - | 291,602.00 |
| 2010 | 3 | - | 303,522.48 |
| 2010 | 4 | - | 285,668.09 |
| 2010 | 5 | - | 275,545.25 |
| 2010 | 6 | - | 275,106.94 |
| 2010 | 7 | - | 277,482.79 |
| 2010 | 8 | - | 286,837.17 |
| 2010 | 9 | - | 299,966.95 |
| 2010 | 10 | - | 307,438.87 |
| 2010 | 11 | - | 318,856.34 |
| 2010 | 12 | - | 329,895.77 |
| 2011 | 1 | - | 340,290.33 |
| 2011 | 2 | - | 336,504.74 |
| 2011 | 3 | - | 343,978.45 |
| 2011 | 4 | - | 346,246.07 |
| 2011 | 5 | - | 333,564.46 |
| 2011 | 6 | - | 343,910.75 |
| 2011 | 7 | - | 308,141.81 |
| 2011 | 8 | - | 305,709.82 |
| 2011 | 9 | - | 314,938.91 |
| 2011 | 10 | - | 320,504.26 |
| 2011 | 11 | - | 325,487.31 |
| 2011 | 12 | - | 341,053.93 |
| 2012 | 1 | - | 355,250.67 |
| 2012 | 2 | - | 365,495.52 |
| 2012 | 3 | - | 365,355.86 |
| 2012 | 4 | - | 354,062.89 |
| 2012 | 5 | - | 349,982.63 |
| 2012 | 6 | - | 360,205.92 |
| 2012 | 7 | - | 372,408.62 |
| 2012 | 8 | - | 383,659.70 |
| 2012 | 9 | - | 382,826.64 |
| 2012 | 10 | - | 371,963.96 |
| 2012 | 11 | - | 380,056.17 |
| 2012 | 12 | - | 396,279.86 |
| 2013 | 1 | - | 405,525.16 |
| 2013 | 2 | - | 416,565.39 |
| 2013 | 3 | - | 422,621.38 |
| 2013 | 4 | - | 441,953.23 |
| 2013 | 5 | - | 437,013.18 |
| 2013 | 6 | - | 451,235.68 |
| 2013 | 7 | - | 452,375.17 |
| 2013 | 8 | - | 457,769.60 |
| 2013 | 9 | - | 467,463.10 |
| 2013 | 10 | - | 485,507.15 |
| 2013 | 11 | - | 492,894.92 |
| 2013 | 12 | - | 497,665.20 |
| 2014 | 1 | - | 497,018.06 |
| 2014 | 2 | - | 510,548.23 |
| 2014 | 3 | - | 511,578.12 |
| 2014 | 4 | - | 519,415.68 |
| 2014 | 5 | - | 536,017.85 |
| 2014 | 6 | - | 544,035.73 |
| 2014 | 7 | - | 541,712.96 |
| 2014 | 8 | - | 551,344.80 |
| 2014 | 9 | - | 536,753.00 |
| 2014 | 10 | - | 567,378.26 |
| 2014 | 11 | - | 570,974.80 |
| 2014 | 12 | - | 564,636.72 |
| 2015 | 1 | - | 580,601.25 |
| 2015 | 2 | - | 580,922.69 |
| 2015 | 3 | - | 586,025.57 |
| 2015 | 4 | - | 591,762.20 |
| 2015 | 5 | - | 589,185.07 |
| 2015 | 6 | - | 588,715.90 |
| 2015 | 7 | - | 574,443.09 |
| 2015 | 8 | - | 548,552.39 |
| 2015 | 9 | - | 572,234.05 |
| 2015 | 10 | - | 589,014.64 |
| 2015 | 11 | - | 582,517.99 |
| 2015 | 12 | - | 545,122.54 |
| 2016 | 1 | - | 542,124.86 |
| 2016 | 2 | - | 576,618.79 |
| 2016 | 3 | - | 592,944.37 |
| 2016 | 4 | - | 591,139.65 |
| 2016 | 5 | - | 597,444.10 |
| 2016 | 6 | - | 617,144.45 |
| 2016 | 7 | - | 624,545.60 |
| 2016 | 8 | - | 621,805.90 |
| 2016 | 9 | - | 618,659.68 |
| 2016 | 10 | - | 626,090.77 |
| 2016 | 11 | - | 650,796.09 |
| 2016 | 12 | - | 660,152.16 |
| 2017 | 1 | - | 677,160.62 |
| 2017 | 2 | - | 689,005.90 |
| 2017 | 3 | - | 687,944.80 |
| 2017 | 4 | - | 699,587.40 |
| 2017 | 5 | - | 712,015.06 |
| 2017 | 6 | - | 719,048.94 |
| 2017 | 7 | - | 720,830.79 |
| 2017 | 8 | - | 732,748.02 |
| 2017 | 9 | - | 752,787.20 |
| 2017 | 10 | - | 764,753.27 |
| 2017 | 11 | - | 786,804.83 |
| 2017 | 12 | - | 825,058.48 |
| 2018 | 1 | - | 801,241.63 |
| 2018 | 2 | - | 801,759.06 |
| 2018 | 3 | - | 788,418.01 |
| 2018 | 4 | - | 803,883.78 |
| 2018 | 5 | - | 820,869.61 |
| 2018 | 6 | - | 833,845.44 |
| 2018 | 7 | - | 854,281.36 |
| 2018 | 8 | - | 868,631.13 |
| 2018 | 9 | - | 835,197.64 |
| 2018 | 10 | - | 817,858.03 |
| 2018 | 11 | - | 772,364.58 |
| 2018 | 12 | - | 785,770.02 |
| 2019 | 1 | - | 831,571.79 |
| 2019 | 2 | - | 847,770.99 |
| 2019 | 3 | - | 879,335.37 |
| 2019 | 4 | - | 865,865.81 |
| 2019 | 5 | - | 878,029.05 |
| 2019 | 6 | - | 911,634.24 |
| 2019 | 7 | - | 883,059.85 |
| 2019 | 8 | - | 910,304.26 |
| 2019 | 9 | - | 910,393.49 |
| 2019 | 10 | - | 950,757.54 |
| 2019 | 11 | - | 974,234.78 |
| 2019 | 12 | - | 1,006,836.55 |
| 2020 | 1 | - | 1,008,065.66 |
| 2020 | 2 | - | 817,362.74 |
| 2020 | 3 | - | 852,661.48 |
| 2020 | 4 | - | 902,860.78 |
| 2020 | 5 | - | 961,621.41 |
| 2020 | 6 | - | 995,051.55 |
| 2020 | 7 | - | 1,053,694.96 |
| 2020 | 8 | - | 1,047,088.27 |
| 2020 | 9 | - | 1,065,161.03 |
| 2020 | 10 | - | 1,107,278.73 |
| 2020 | 11 | - | 1,154,449.70 |
| 2020 | 12 | - | 1,186,720.03 |
| 2021 | 1 | - | 1,216,287.50 |
| 2021 | 2 | - | 1,226,277.57 |
| 2021 | 3 | - | 1,300,117.70 |
| 2021 | 4 | - | 1,310,001.61 |
| 2021 | 5 | - | 1,333,718.17 |
| 2021 | 6 | - | 1,374,639.33 |
| 2021 | 7 | - | 1,404,677.43 |
| 2021 | 8 | - | 1,403,490.49 |
| 2021 | 9 | - | 1,409,836.74 |
| 2021 | 10 | - | 1,476,729.89 |
| 2021 | 11 | - | 1,480,649.18 |
| 2021 | 12 | - | 1,450,266.96 |
| 2022 | 1 | - | 1,408,171.95 |
| 2022 | 2 | - | 1,395,602.83 |
| 2022 | 3 | - | 1,397,253.86 |
| 2022 | 4 | - | 1,287,251.83 |
| 2022 | 5 | - | 1,243,879.36 |
| 2022 | 6 | - | 1,249,659.49 |
| 2022 | 7 | - | 1,330,229.96 |
| 2022 | 8 | - | 1,233,423.75 |
| 2022 | 9 | - | 1,195,296.46 |
| 2022 | 10 | - | 1,258,469.00 |
| 2022 | 11 | - | 1,258,605.39 |
| 2022 | 12 | - | 1,275,929.54 |
| 2023 | 1 | - | 1,316,082.68 |
| 2023 | 2 | - | 1,282,056.32 |
| 2023 | 3 | - | 1,333,290.13 |
| 2023 | 4 | - | 1,343,125.75 |
| 2023 | 5 | - | 1,409,505.53 |
| 2023 | 6 | - | 1,464,138.56 |
| 2023 | 7 | - | 1,449,531.77 |
| 2023 | 8 | - | 1,435,709.37 |
| 2023 | 9 | - | 1,392,102.39 |
| 2023 | 10 | - | 1,456,163.09 |
| 2023 | 11 | - | 1,531,523.13 |
| 2023 | 12 | - | 1,576,118.58 |
Click to show 522 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 | $99.71 |
| End Value Average monthly close | $3,960.66 |
| Change in price | +3,872.18% +8.73% / yr |
| Change incl. dividends | +15,125.60% +11.82% / yr |
| Change incl. dividends, inflation-adjusted | +3,527.74% +8.31% / yr |
| Final amount, nominal ($12000 base) | $1,827,072.26 |
| Final amount, inflation-adjusted ($12000 base) | $435,328.20 |
