Stock market returns between 1980 and 2023
If you invested $1000 in the S&P 500 at the beginning of 1980, you would have about $130,005.14 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 12,900.51%, or 11.70% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,415.70% cumulatively, or 8.43% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $111,828.14.
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 $129,005.14, or 12,900.51%. This means by 2023 you would have $130,005.14 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 1980 was 82.400 and the CPI in 2023 was 304.702.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 43 years.
Adjusted for inflation, the $130,005.14 nominal end value of the original $1000 investment would have a real return of roughly $34,157.03 in 1980 dollars. This means the inflation-adjusted return is 3,415.70% as opposed to the original 12,900.51%.
For more information on inflation, see our U.S. inflation calculator for 1980.
Full monthly data
The table below shows the full dataset pertaining to a $1000 investment, including gains and losses over the 528-month period between 1980 and 2023.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1980 | 1 | 4.40% | 1,043.96 | 77.80 |
| 1980 | 2 | -8.78% | 952.32 | 78.90 |
| 1980 | 3 | -1.16% | 941.26 | 80.10 |
| 1980 | 4 | 5.04% | 988.66 | 81.00 |
| 1980 | 5 | 6.86% | 1,056.51 | 81.80 |
| 1980 | 6 | 4.97% | 1,109.01 | 82.70 |
| 1980 | 7 | 3.50% | 1,147.88 | 82.70 |
| 1980 | 8 | 2.84% | 1,180.43 | 83.30 |
| 1980 | 9 | 3.32% | 1,219.67 | 84.00 |
| 1980 | 10 | 4.61% | 1,275.96 | 84.80 |
| 1980 | 11 | -1.24% | 1,260.08 | 85.50 |
| 1980 | 12 | 0.01% | 1,260.20 | 86.30 |
| 1981 | 1 | -3.07% | 1,221.51 | 87.00 |
| 1981 | 2 | 4.14% | 1,272.12 | 87.90 |
| 1981 | 3 | 1.29% | 1,288.58 | 88.50 |
| 1981 | 4 | -1.62% | 1,267.74 | 89.10 |
| 1981 | 5 | 0.86% | 1,278.61 | 89.80 |
| 1981 | 6 | -2.02% | 1,252.83 | 90.60 |
| 1981 | 7 | 0.80% | 1,262.89 | 91.60 |
| 1981 | 8 | -8.30% | 1,158.03 | 92.30 |
| 1981 | 9 | 1.73% | 1,178.04 | 93.20 |
| 1981 | 10 | 3.04% | 1,213.89 | 93.40 |
| 1981 | 11 | 1.18% | 1,228.21 | 93.70 |
| 1981 | 12 | -4.80% | 1,169.20 | 94.00 |
| 1982 | 1 | -1.91% | 1,146.83 | 94.30 |
| 1982 | 2 | -2.74% | 1,115.35 | 94.60 |
| 1982 | 3 | 5.47% | 1,176.35 | 94.50 |
| 1982 | 4 | 0.57% | 1,183.06 | 94.90 |
| 1982 | 5 | -5.27% | 1,120.70 | 95.80 |
| 1982 | 6 | 0.24% | 1,123.43 | 97.00 |
| 1982 | 7 | 0.79% | 1,132.35 | 97.50 |
| 1982 | 8 | 12.10% | 1,269.33 | 97.70 |
| 1982 | 9 | 8.88% | 1,382.06 | 97.90 |
| 1982 | 10 | 4.50% | 1,444.25 | 98.20 |
| 1982 | 11 | 1.36% | 1,463.83 | 98.00 |
| 1982 | 12 | 3.93% | 1,521.30 | 97.60 |
| 1983 | 1 | 2.13% | 1,553.70 | 97.80 |
| 1983 | 2 | 3.87% | 1,613.76 | 97.90 |
| 1983 | 3 | 4.20% | 1,681.50 | 97.90 |
| 1983 | 4 | 4.42% | 1,755.88 | 98.60 |
| 1983 | 5 | 1.75% | 1,786.67 | 99.20 |
| 1983 | 6 | 0.71% | 1,799.33 | 99.50 |
| 1983 | 7 | -2.41% | 1,756.01 | 99.90 |
| 1983 | 8 | 3.31% | 1,814.20 | 100.20 |
| 1983 | 9 | 0.65% | 1,825.96 | 100.70 |
| 1983 | 10 | -1.14% | 1,805.12 | 101.00 |
| 1983 | 11 | -0.13% | 1,802.80 | 101.20 |
| 1983 | 12 | 1.58% | 1,831.22 | 101.30 |
| 1984 | 1 | -5.11% | 1,737.60 | 101.90 |
| 1984 | 2 | 0.44% | 1,745.29 | 102.40 |
| 1984 | 3 | 0.51% | 1,754.14 | 102.60 |
| 1984 | 4 | -0.25% | 1,749.71 | 103.10 |
| 1984 | 5 | -1.85% | 1,717.37 | 103.40 |
| 1984 | 6 | -0.91% | 1,701.77 | 103.70 |
| 1984 | 7 | 9.21% | 1,858.44 | 104.10 |
| 1984 | 8 | 1.41% | 1,884.59 | 104.50 |
| 1984 | 9 | -0.41% | 1,876.82 | 105.00 |
| 1984 | 10 | 1.29% | 1,900.95 | 105.30 |
| 1984 | 11 | -0.71% | 1,887.50 | 105.30 |
| 1984 | 12 | 4.70% | 1,976.17 | 105.30 |
| 1985 | 1 | 5.79% | 2,090.54 | 105.50 |
| 1985 | 2 | -0.48% | 2,080.54 | 106.00 |
| 1985 | 3 | 1.02% | 2,101.86 | 106.40 |
| 1985 | 4 | 2.74% | 2,159.35 | 106.90 |
| 1985 | 5 | 2.51% | 2,213.58 | 107.30 |
| 1985 | 6 | 2.25% | 2,263.32 | 107.60 |
| 1985 | 7 | -1.85% | 2,221.55 | 107.80 |
| 1985 | 8 | -1.88% | 2,179.68 | 108.00 |
| 1985 | 9 | 1.50% | 2,212.28 | 108.30 |
| 1985 | 10 | 6.42% | 2,354.32 | 108.70 |
| 1985 | 11 | 5.29% | 2,478.97 | 109.00 |
| 1985 | 12 | 0.75% | 2,497.60 | 109.30 |
| 1986 | 1 | 5.70% | 2,639.89 | 109.60 |
| 1986 | 2 | 6.18% | 2,803.11 | 109.30 |
| 1986 | 3 | 2.74% | 2,879.96 | 108.80 |
| 1986 | 4 | 0.49% | 2,894.12 | 108.60 |
| 1986 | 5 | 3.13% | 2,984.80 | 108.90 |
| 1986 | 6 | -1.80% | 2,930.96 | 109.50 |
| 1986 | 7 | 2.28% | 2,997.81 | 109.50 |
| 1986 | 8 | -2.46% | 2,924.18 | 109.70 |
| 1986 | 9 | -0.09% | 2,921.55 | 110.20 |
| 1986 | 10 | 3.53% | 3,024.77 | 110.30 |
| 1986 | 11 | 1.71% | 3,076.46 | 110.40 |
| 1986 | 12 | 6.67% | 3,281.76 | 110.50 |
| 1987 | 1 | 6.46% | 3,493.82 | 111.20 |
| 1987 | 2 | 4.38% | 3,646.73 | 111.60 |
| 1987 | 3 | -0.86% | 3,615.50 | 112.10 |
| 1987 | 4 | 0.17% | 3,621.75 | 112.70 |
| 1987 | 5 | 4.50% | 3,784.67 | 113.10 |
| 1987 | 6 | 3.12% | 3,902.83 | 113.50 |
| 1987 | 7 | 6.45% | 4,154.72 | 113.80 |
| 1987 | 8 | -3.03% | 4,028.81 | 114.40 |
| 1987 | 9 | -11.85% | 3,551.24 | 115.00 |
| 1987 | 10 | -12.30% | 3,114.32 | 115.30 |
| 1987 | 11 | -1.33% | 3,072.75 | 115.40 |
| 1987 | 12 | 4.25% | 3,203.24 | 115.40 |
| 1988 | 1 | 3.33% | 3,309.86 | 115.70 |
| 1988 | 2 | 3.23% | 3,416.84 | 116.00 |
| 1988 | 3 | -0.89% | 3,386.56 | 116.50 |
| 1988 | 4 | -2.19% | 3,312.45 | 117.10 |
| 1988 | 5 | 6.00% | 3,511.14 | 117.50 |
| 1988 | 6 | -0.31% | 3,500.37 | 118.00 |
| 1988 | 7 | -1.72% | 3,440.21 | 118.50 |
| 1988 | 8 | 1.93% | 3,506.51 | 119.00 |
| 1988 | 9 | 3.80% | 3,639.82 | 119.80 |
| 1988 | 10 | -2.02% | 3,566.28 | 120.20 |
| 1988 | 11 | 2.33% | 3,649.23 | 120.30 |
| 1988 | 12 | 3.51% | 3,777.42 | 120.50 |
| 1989 | 1 | 3.30% | 3,902.07 | 121.10 |
| 1989 | 2 | -0.16% | 3,895.76 | 121.60 |
| 1989 | 3 | 3.56% | 4,034.63 | 122.30 |
| 1989 | 4 | 4.12% | 4,200.67 | 123.10 |
| 1989 | 5 | 3.39% | 4,343.18 | 123.80 |
| 1989 | 6 | 2.80% | 4,464.80 | 124.10 |
| 1989 | 7 | 4.69% | 4,674.23 | 124.40 |
| 1989 | 8 | 0.46% | 4,695.53 | 124.60 |
| 1989 | 9 | 0.29% | 4,708.97 | 125.00 |
| 1989 | 10 | -1.81% | 4,623.57 | 125.60 |
| 1989 | 11 | 2.74% | 4,750.10 | 125.90 |
| 1989 | 12 | -2.21% | 4,645.07 | 126.10 |
| 1990 | 1 | -2.53% | 4,527.68 | 127.40 |
| 1990 | 2 | 2.71% | 4,650.25 | 128.00 |
| 1990 | 3 | 0.20% | 4,659.36 | 128.70 |
| 1990 | 4 | 3.85% | 4,838.79 | 128.90 |
| 1990 | 5 | 3.17% | 4,992.18 | 129.20 |
| 1990 | 6 | 0.17% | 5,000.65 | 129.90 |
| 1990 | 7 | -7.86% | 4,607.54 | 130.40 |
| 1990 | 8 | -4.34% | 4,407.52 | 131.60 |
| 1990 | 9 | -2.32% | 4,305.46 | 132.70 |
| 1990 | 10 | 2.98% | 4,433.92 | 133.50 |
| 1990 | 11 | 4.59% | 4,637.29 | 133.80 |
| 1990 | 12 | -0.69% | 4,605.52 | 133.80 |
| 1991 | 1 | 11.61% | 5,140.07 | 134.60 |
| 1991 | 2 | 3.04% | 5,296.56 | 134.80 |
| 1991 | 3 | 2.26% | 5,416.20 | 135.00 |
| 1991 | 4 | -0.18% | 5,406.51 | 135.20 |
| 1991 | 5 | 0.35% | 5,425.28 | 135.60 |
| 1991 | 6 | 0.78% | 5,467.62 | 136.00 |
| 1991 | 7 | 2.68% | 5,614.09 | 136.20 |
| 1991 | 8 | -0.30% | 5,597.08 | 136.60 |
| 1991 | 9 | 0.18% | 5,607.24 | 137.20 |
| 1991 | 10 | 0.02% | 5,608.13 | 137.40 |
| 1991 | 11 | 0.94% | 5,660.57 | 137.80 |
| 1991 | 12 | 7.36% | 6,077.08 | 137.90 |
| 1992 | 1 | -0.60% | 6,040.57 | 138.10 |
| 1992 | 2 | -1.01% | 5,979.41 | 138.60 |
| 1992 | 3 | 0.26% | 5,995.22 | 139.30 |
| 1992 | 4 | 2.07% | 6,119.22 | 139.50 |
| 1992 | 5 | -1.33% | 6,037.89 | 139.70 |
| 1992 | 6 | 1.91% | 6,153.34 | 140.20 |
| 1992 | 7 | 0.94% | 6,211.29 | 140.50 |
| 1992 | 8 | 0.38% | 6,234.78 | 140.90 |
| 1992 | 9 | -1.18% | 6,161.08 | 141.30 |
| 1992 | 10 | 2.76% | 6,330.93 | 141.80 |
| 1992 | 11 | 3.27% | 6,538.03 | 142.00 |
| 1992 | 12 | 0.14% | 6,547.37 | 141.90 |
| 1993 | 1 | 1.72% | 6,660.27 | 142.60 |
| 1993 | 2 | 2.15% | 6,803.47 | 143.10 |
| 1993 | 3 | -1.34% | 6,712.19 | 143.60 |
| 1993 | 4 | 0.72% | 6,760.83 | 144.00 |
| 1993 | 5 | 0.87% | 6,819.32 | 144.20 |
| 1993 | 6 | 0.06% | 6,823.48 | 144.40 |
| 1993 | 7 | 1.76% | 6,943.75 | 144.40 |
| 1993 | 8 | 1.35% | 7,037.83 | 144.80 |
| 1993 | 9 | 1.24% | 7,125.24 | 145.10 |
| 1993 | 10 | 0.01% | 7,125.77 | 145.70 |
| 1993 | 11 | 0.89% | 7,188.99 | 145.80 |
| 1993 | 12 | 1.74% | 7,313.78 | 145.80 |
| 1994 | 1 | -0.08% | 7,308.25 | 146.20 |
| 1994 | 2 | -1.42% | 7,204.19 | 146.70 |
| 1994 | 3 | -3.35% | 6,963.11 | 147.20 |
| 1994 | 4 | 1.06% | 7,036.80 | 147.40 |
| 1994 | 5 | 1.11% | 7,114.77 | 147.50 |
| 1994 | 6 | -0.52% | 7,077.86 | 148.00 |
| 1994 | 7 | 3.08% | 7,296.00 | 148.40 |
| 1994 | 8 | 0.82% | 7,355.64 | 149.00 |
| 1994 | 9 | -0.44% | 7,322.98 | 149.40 |
| 1994 | 10 | -0.37% | 7,295.90 | 149.50 |
| 1994 | 11 | -1.03% | 7,221.06 | 149.70 |
| 1994 | 12 | 2.45% | 7,398.06 | 149.70 |
| 1995 | 1 | 3.82% | 7,680.60 | 150.30 |
| 1995 | 2 | 2.56% | 7,877.08 | 150.90 |
| 1995 | 3 | 3.22% | 8,130.38 | 151.40 |
| 1995 | 4 | 3.35% | 8,402.56 | 151.90 |
| 1995 | 5 | 3.18% | 8,669.63 | 152.20 |
| 1995 | 6 | 3.55% | 8,977.18 | 152.50 |
| 1995 | 7 | 0.51% | 9,023.25 | 152.50 |
| 1995 | 8 | 3.72% | 9,358.70 | 152.90 |
| 1995 | 9 | 0.91% | 9,444.11 | 153.20 |
| 1995 | 10 | 2.36% | 9,666.84 | 153.70 |
| 1995 | 11 | 3.39% | 9,994.46 | 153.60 |
| 1995 | 12 | 0.16% | 10,010.71 | 153.50 |
| 1996 | 1 | 5.90% | 10,601.78 | 154.40 |
| 1996 | 2 | -0.20% | 10,580.50 | 154.90 |
| 1996 | 3 | 0.20% | 10,601.35 | 155.70 |
| 1996 | 4 | 2.35% | 10,850.99 | 156.30 |
| 1996 | 5 | 1.28% | 10,989.73 | 156.60 |
| 1996 | 6 | -3.48% | 10,607.67 | 156.70 |
| 1996 | 7 | 3.08% | 10,933.93 | 157.00 |
| 1996 | 8 | 2.02% | 11,155.21 | 157.30 |
| 1996 | 9 | 4.12% | 11,614.74 | 157.80 |
| 1996 | 10 | 5.05% | 12,201.53 | 158.30 |
| 1996 | 11 | 1.20% | 12,347.73 | 158.60 |
| 1996 | 12 | 3.26% | 12,749.97 | 158.60 |
| 1997 | 1 | 4.36% | 13,306.01 | 159.10 |
| 1997 | 2 | -0.62% | 13,223.02 | 159.60 |
| 1997 | 3 | -3.41% | 12,772.75 | 160.00 |
| 1997 | 4 | 9.22% | 13,950.12 | 160.20 |
| 1997 | 5 | 5.34% | 14,694.61 | 160.10 |
| 1997 | 6 | 5.74% | 15,537.48 | 160.30 |
| 1997 | 7 | 0.35% | 15,591.52 | 160.50 |
| 1997 | 8 | 1.19% | 15,777.37 | 160.80 |
| 1997 | 9 | 1.65% | 16,036.97 | 161.20 |
| 1997 | 10 | -1.15% | 15,852.22 | 161.60 |
| 1997 | 11 | 2.63% | 16,269.86 | 161.50 |
| 1997 | 12 | 0.24% | 16,308.44 | 161.30 |
| 1998 | 1 | 6.40% | 17,352.53 | 161.60 |
| 1998 | 2 | 5.31% | 18,274.45 | 161.90 |
| 1998 | 3 | 3.41% | 18,896.81 | 162.20 |
| 1998 | 4 | -0.22% | 18,854.89 | 162.50 |
| 1998 | 5 | 0.12% | 18,876.85 | 162.80 |
| 1998 | 6 | 4.47% | 19,720.20 | 163.00 |
| 1998 | 7 | -6.97% | 18,345.51 | 163.20 |
| 1998 | 8 | -4.90% | 17,446.86 | 163.40 |
| 1998 | 9 | 1.29% | 17,672.07 | 163.60 |
| 1998 | 10 | 10.97% | 19,611.48 | 164.00 |
| 1998 | 11 | 4.10% | 20,416.35 | 164.00 |
| 1998 | 12 | 5.05% | 21,446.90 | 163.90 |
| 1999 | 1 | -0.07% | 21,432.60 | 164.30 |
| 1999 | 2 | 2.92% | 22,059.18 | 164.50 |
| 1999 | 3 | 4.25% | 22,996.70 | 165.00 |
| 1999 | 4 | -0.10% | 22,973.97 | 166.20 |
| 1999 | 5 | -0.61% | 22,833.43 | 166.20 |
| 1999 | 6 | 4.52% | 23,866.04 | 166.20 |
| 1999 | 7 | -3.77% | 22,965.25 | 166.70 |
| 1999 | 8 | -0.60% | 22,827.91 | 167.10 |
| 1999 | 9 | -1.27% | 22,537.43 | 167.90 |
| 1999 | 10 | 7.11% | 24,138.93 | 168.20 |
| 1999 | 11 | 2.81% | 24,816.93 | 168.30 |
| 1999 | 12 | -0.12% | 24,787.41 | 168.30 |
| 2000 | 1 | -2.48% | 24,173.16 | 168.80 |
| 2000 | 2 | 3.94% | 25,125.81 | 169.80 |
| 2000 | 3 | 1.42% | 25,483.77 | 171.20 |
| 2000 | 4 | -2.84% | 24,760.34 | 171.30 |
| 2000 | 5 | 3.16% | 25,543.63 | 171.50 |
| 2000 | 6 | 0.85% | 25,760.84 | 172.40 |
| 2000 | 7 | 0.94% | 26,002.92 | 172.80 |
| 2000 | 8 | -1.08% | 25,722.17 | 172.80 |
| 2000 | 9 | -5.21% | 24,380.96 | 173.70 |
| 2000 | 10 | -0.77% | 24,192.60 | 174.00 |
| 2000 | 11 | -3.32% | 23,389.39 | 174.10 |
| 2000 | 12 | 0.46% | 23,495.81 | 174.00 |
| 2001 | 1 | -2.14% | 22,993.88 | 175.10 |
| 2001 | 2 | -9.08% | 20,906.06 | 175.80 |
| 2001 | 3 | 0.45% | 20,999.86 | 176.20 |
| 2001 | 4 | 6.88% | 22,444.52 | 176.90 |
| 2001 | 5 | -2.39% | 21,908.39 | 177.70 |
| 2001 | 6 | -2.66% | 21,325.58 | 178.00 |
| 2001 | 7 | -2.05% | 20,889.29 | 177.50 |
| 2001 | 8 | -11.25% | 18,539.81 | 177.50 |
| 2001 | 9 | 3.18% | 19,130.12 | 178.30 |
| 2001 | 10 | 5.05% | 20,096.79 | 177.70 |
| 2001 | 11 | 1.47% | 20,391.42 | 177.40 |
| 2001 | 12 | -0.30% | 20,330.72 | 176.70 |
| 2002 | 1 | -3.35% | 19,649.08 | 177.10 |
| 2002 | 2 | 4.95% | 20,620.78 | 177.80 |
| 2002 | 3 | -3.51% | 19,896.07 | 178.80 |
| 2002 | 4 | -2.82% | 19,334.93 | 179.80 |
| 2002 | 5 | -5.92% | 18,190.12 | 179.80 |
| 2002 | 6 | -10.76% | 16,233.13 | 179.90 |
| 2002 | 7 | 1.14% | 16,418.00 | 180.10 |
| 2002 | 8 | -4.76% | 15,636.87 | 180.70 |
| 2002 | 9 | -1.37% | 15,423.11 | 181.00 |
| 2002 | 10 | 6.63% | 16,444.98 | 181.30 |
| 2002 | 11 | -1.04% | 16,274.76 | 181.30 |
| 2002 | 12 | -0.22% | 16,238.55 | 180.90 |
| 2003 | 1 | -6.41% | 15,196.87 | 181.70 |
| 2003 | 2 | 1.31% | 15,395.63 | 183.10 |
| 2003 | 3 | 5.29% | 16,209.42 | 184.20 |
| 2003 | 4 | 5.31% | 17,070.50 | 183.80 |
| 2003 | 5 | 5.70% | 18,044.24 | 183.50 |
| 2003 | 6 | 0.60% | 18,151.76 | 183.70 |
| 2003 | 7 | -0.17% | 18,121.57 | 183.90 |
| 2003 | 8 | 3.16% | 18,694.43 | 184.60 |
| 2003 | 9 | 2.03% | 19,073.52 | 185.20 |
| 2003 | 10 | 1.21% | 19,304.42 | 185.00 |
| 2003 | 11 | 3.06% | 19,895.87 | 184.50 |
| 2003 | 12 | 4.93% | 20,877.72 | 184.30 |
| 2004 | 1 | 1.09% | 21,104.59 | 185.20 |
| 2004 | 2 | -1.57% | 20,774.26 | 186.20 |
| 2004 | 3 | 0.97% | 20,975.39 | 187.40 |
| 2004 | 4 | -2.56% | 20,437.53 | 188.00 |
| 2004 | 5 | 2.86% | 21,021.56 | 189.10 |
| 2004 | 6 | -2.24% | 20,550.94 | 189.70 |
| 2004 | 7 | -1.39% | 20,265.78 | 189.40 |
| 2004 | 8 | 2.78% | 20,829.70 | 189.50 |
| 2004 | 9 | 0.10% | 20,851.07 | 189.90 |
| 2004 | 10 | 4.77% | 21,846.48 | 190.90 |
| 2004 | 11 | 2.73% | 22,442.33 | 191.00 |
| 2004 | 12 | -1.35% | 22,139.53 | 190.30 |
| 2005 | 1 | 1.68% | 22,511.74 | 190.70 |
| 2005 | 2 | -0.26% | 22,454.21 | 191.80 |
| 2005 | 3 | -2.41% | 21,913.30 | 193.30 |
| 2005 | 4 | 1.34% | 22,206.04 | 194.60 |
| 2005 | 5 | 2.18% | 22,690.28 | 194.40 |
| 2005 | 6 | 1.81% | 23,100.48 | 194.50 |
| 2005 | 7 | 0.31% | 23,172.09 | 195.40 |
| 2005 | 8 | 0.28% | 23,236.90 | 196.40 |
| 2005 | 9 | -2.62% | 22,627.11 | 198.80 |
| 2005 | 10 | 3.96% | 23,523.50 | 199.20 |
| 2005 | 11 | 2.14% | 24,027.87 | 197.60 |
| 2005 | 12 | 1.47% | 24,380.31 | 196.80 |
| 2006 | 1 | -0.02% | 24,376.25 | 198.30 |
| 2006 | 2 | 1.49% | 24,738.51 | 198.70 |
| 2006 | 3 | 0.80% | 24,936.01 | 199.80 |
| 2006 | 4 | -0.79% | 24,739.85 | 201.50 |
| 2006 | 5 | -2.71% | 24,070.44 | 202.50 |
| 2006 | 6 | 0.72% | 24,243.76 | 202.90 |
| 2006 | 7 | 2.29% | 24,799.37 | 203.50 |
| 2006 | 8 | 2.53% | 25,427.08 | 203.90 |
| 2006 | 9 | 3.62% | 26,346.51 | 202.90 |
| 2006 | 10 | 2.00% | 26,873.87 | 201.80 |
| 2006 | 11 | 2.15% | 27,451.19 | 201.50 |
| 2006 | 12 | 0.69% | 27,641.38 | 201.80 |
| 2007 | 1 | 1.60% | 28,082.55 | 202.42 |
| 2007 | 2 | -2.47% | 27,387.82 | 203.50 |
| 2007 | 3 | 4.18% | 28,532.70 | 205.35 |
| 2007 | 4 | 3.39% | 29,500.46 | 206.69 |
| 2007 | 5 | 0.34% | 29,602.21 | 207.95 |
| 2007 | 6 | 0.57% | 29,772.31 | 208.35 |
| 2007 | 7 | -4.20% | 28,521.54 | 208.30 |
| 2007 | 8 | 3.07% | 29,398.50 | 207.92 |
| 2007 | 9 | 2.99% | 30,278.00 | 208.49 |
| 2007 | 10 | -4.81% | 28,822.74 | 208.94 |
| 2007 | 11 | 1.24% | 29,179.63 | 210.18 |
| 2007 | 12 | -6.64% | 27,243.51 | 210.04 |
| 2008 | 1 | -1.56% | 26,817.43 | 211.08 |
| 2008 | 2 | -2.63% | 26,113.03 | 211.69 |
| 2008 | 3 | 4.24% | 27,221.22 | 213.53 |
| 2008 | 4 | 2.56% | 27,918.79 | 214.82 |
| 2008 | 5 | -4.25% | 26,733.20 | 216.63 |
| 2008 | 6 | -6.08% | 25,108.23 | 218.82 |
| 2008 | 7 | 2.11% | 25,638.14 | 219.96 |
| 2008 | 8 | -4.85% | 24,395.33 | 219.09 |
| 2008 | 9 | -20.19% | 19,469.03 | 218.78 |
| 2008 | 10 | -8.61% | 17,793.66 | 216.57 |
| 2008 | 11 | -0.35% | 17,731.16 | 212.43 |
| 2008 | 12 | -1.10% | 17,536.91 | 210.23 |
| 2009 | 1 | -6.70% | 16,361.49 | 211.14 |
| 2009 | 2 | -5.69% | 15,430.95 | 212.19 |
| 2009 | 3 | 12.32% | 17,332.31 | 212.71 |
| 2009 | 4 | 6.66% | 18,486.61 | 213.24 |
| 2009 | 5 | 2.87% | 19,016.96 | 213.86 |
| 2009 | 6 | 1.28% | 19,259.93 | 215.69 |
| 2009 | 7 | 8.12% | 20,823.98 | 215.35 |
| 2009 | 8 | 3.65% | 21,584.13 | 215.83 |
| 2009 | 9 | 2.40% | 22,102.82 | 215.97 |
| 2009 | 10 | 2.09% | 22,565.72 | 216.18 |
| 2009 | 11 | 2.23% | 23,068.00 | 216.33 |
| 2009 | 12 | 1.36% | 23,381.03 | 215.95 |
| 2010 | 1 | -2.90% | 22,703.34 | 216.69 |
| 2010 | 2 | 5.94% | 24,052.60 | 216.74 |
| 2010 | 3 | 4.09% | 25,035.86 | 217.63 |
| 2010 | 4 | -5.88% | 23,563.15 | 218.01 |
| 2010 | 5 | -3.54% | 22,728.17 | 218.18 |
| 2010 | 6 | -0.16% | 22,692.02 | 217.97 |
| 2010 | 7 | 0.86% | 22,887.99 | 218.01 |
| 2010 | 8 | 3.37% | 23,659.58 | 218.31 |
| 2010 | 9 | 4.58% | 24,742.58 | 218.44 |
| 2010 | 10 | 2.49% | 25,358.90 | 218.71 |
| 2010 | 11 | 3.71% | 26,300.66 | 218.80 |
| 2010 | 12 | 3.46% | 27,211.24 | 219.18 |
| 2011 | 1 | 3.15% | 28,068.63 | 220.22 |
| 2011 | 2 | -1.11% | 27,756.38 | 221.31 |
| 2011 | 3 | 2.22% | 28,372.84 | 223.47 |
| 2011 | 4 | 0.66% | 28,559.89 | 224.91 |
| 2011 | 5 | -3.66% | 27,513.85 | 225.96 |
| 2011 | 6 | 3.10% | 28,367.26 | 225.72 |
| 2011 | 7 | -10.40% | 25,416.88 | 225.92 |
| 2011 | 8 | -0.79% | 25,216.28 | 226.55 |
| 2011 | 9 | 3.02% | 25,977.54 | 226.89 |
| 2011 | 10 | 1.77% | 26,436.59 | 226.42 |
| 2011 | 11 | 1.55% | 26,847.61 | 226.23 |
| 2011 | 12 | 4.78% | 28,131.62 | 225.67 |
| 2012 | 1 | 4.16% | 29,302.62 | 226.67 |
| 2012 | 2 | 2.88% | 30,147.66 | 227.66 |
| 2012 | 3 | -0.04% | 30,136.15 | 229.39 |
| 2012 | 4 | -3.09% | 29,204.65 | 230.09 |
| 2012 | 5 | -1.15% | 28,868.09 | 229.82 |
| 2012 | 6 | 2.92% | 29,711.36 | 229.48 |
| 2012 | 7 | 3.39% | 30,717.89 | 229.10 |
| 2012 | 8 | 3.02% | 31,645.93 | 230.38 |
| 2012 | 9 | -0.22% | 31,577.21 | 231.41 |
| 2012 | 10 | -2.84% | 30,681.21 | 231.32 |
| 2012 | 11 | 2.18% | 31,348.69 | 230.22 |
| 2012 | 12 | 4.27% | 32,686.89 | 229.60 |
| 2013 | 1 | 2.33% | 33,449.48 | 230.28 |
| 2013 | 2 | 2.72% | 34,360.13 | 232.17 |
| 2013 | 3 | 1.45% | 34,859.66 | 232.77 |
| 2013 | 4 | 4.57% | 36,454.23 | 232.53 |
| 2013 | 5 | -1.12% | 36,046.75 | 232.95 |
| 2013 | 6 | 3.25% | 37,219.89 | 233.50 |
| 2013 | 7 | 0.25% | 37,313.88 | 233.60 |
| 2013 | 8 | 1.19% | 37,758.83 | 233.88 |
| 2013 | 9 | 2.12% | 38,558.40 | 234.15 |
| 2013 | 10 | 3.86% | 40,046.75 | 233.55 |
| 2013 | 11 | 1.52% | 40,656.12 | 233.07 |
| 2013 | 12 | 0.97% | 41,049.60 | 233.05 |
| 2014 | 1 | -0.13% | 40,996.22 | 233.92 |
| 2014 | 2 | 2.72% | 42,112.25 | 234.78 |
| 2014 | 3 | 0.20% | 42,197.20 | 236.29 |
| 2014 | 4 | 1.53% | 42,843.67 | 237.07 |
| 2014 | 5 | 3.20% | 44,213.09 | 237.90 |
| 2014 | 6 | 1.50% | 44,874.44 | 238.34 |
| 2014 | 7 | -0.43% | 44,682.85 | 238.25 |
| 2014 | 8 | 1.78% | 45,477.32 | 237.85 |
| 2014 | 9 | -2.65% | 44,273.73 | 238.03 |
| 2014 | 10 | 5.71% | 46,799.83 | 237.43 |
| 2014 | 11 | 0.63% | 47,096.49 | 236.15 |
| 2014 | 12 | -1.11% | 46,573.70 | 234.81 |
| 2015 | 1 | 2.83% | 47,890.52 | 233.71 |
| 2015 | 2 | 0.06% | 47,917.04 | 234.72 |
| 2015 | 3 | 0.88% | 48,337.95 | 236.12 |
| 2015 | 4 | 0.98% | 48,811.13 | 236.60 |
| 2015 | 5 | -0.44% | 48,598.56 | 237.81 |
| 2015 | 6 | -0.08% | 48,559.86 | 238.64 |
| 2015 | 7 | -2.42% | 47,382.57 | 238.65 |
| 2015 | 8 | -4.51% | 45,246.99 | 238.32 |
| 2015 | 9 | 4.32% | 47,200.36 | 237.95 |
| 2015 | 10 | 2.93% | 48,584.50 | 237.84 |
| 2015 | 11 | -1.10% | 48,048.63 | 237.34 |
| 2015 | 12 | -6.42% | 44,964.09 | 236.53 |
| 2016 | 1 | -0.55% | 44,716.82 | 236.92 |
| 2016 | 2 | 6.36% | 47,562.03 | 237.11 |
| 2016 | 3 | 2.83% | 48,908.64 | 238.13 |
| 2016 | 4 | -0.30% | 48,759.78 | 239.26 |
| 2016 | 5 | 1.07% | 49,279.80 | 240.23 |
| 2016 | 6 | 3.30% | 50,904.77 | 241.02 |
| 2016 | 7 | 1.20% | 51,515.25 | 240.63 |
| 2016 | 8 | -0.44% | 51,289.26 | 240.85 |
| 2016 | 9 | -0.51% | 51,029.75 | 241.43 |
| 2016 | 10 | 1.20% | 51,642.70 | 241.73 |
| 2016 | 11 | 3.95% | 53,680.50 | 241.35 |
| 2016 | 12 | 1.44% | 54,452.23 | 241.43 |
| 2017 | 1 | 2.58% | 55,855.16 | 242.84 |
| 2017 | 2 | 1.75% | 56,832.21 | 243.60 |
| 2017 | 3 | -0.15% | 56,744.69 | 243.80 |
| 2017 | 4 | 1.69% | 57,705.02 | 244.52 |
| 2017 | 5 | 1.78% | 58,730.11 | 244.73 |
| 2017 | 6 | 0.99% | 59,310.29 | 244.96 |
| 2017 | 7 | 0.25% | 59,457.27 | 244.79 |
| 2017 | 8 | 1.65% | 60,440.25 | 245.52 |
| 2017 | 9 | 2.73% | 62,093.17 | 246.82 |
| 2017 | 10 | 1.59% | 63,080.19 | 246.66 |
| 2017 | 11 | 2.88% | 64,899.09 | 246.67 |
| 2017 | 12 | 4.86% | 68,054.42 | 246.52 |
| 2018 | 1 | -2.89% | 66,089.91 | 247.87 |
| 2018 | 2 | 0.06% | 66,132.58 | 248.99 |
| 2018 | 3 | -1.66% | 65,032.16 | 249.55 |
| 2018 | 4 | 1.96% | 66,307.84 | 250.55 |
| 2018 | 5 | 2.11% | 67,708.91 | 251.59 |
| 2018 | 6 | 1.58% | 68,779.21 | 251.99 |
| 2018 | 7 | 2.45% | 70,464.85 | 252.01 |
| 2018 | 8 | 1.68% | 71,648.49 | 252.15 |
| 2018 | 9 | -3.85% | 68,890.75 | 252.44 |
| 2018 | 10 | -2.08% | 67,460.50 | 252.89 |
| 2018 | 11 | -5.56% | 63,708.00 | 252.04 |
| 2018 | 12 | 1.74% | 64,813.74 | 251.23 |
| 2019 | 1 | 5.83% | 68,591.67 | 251.71 |
| 2019 | 2 | 1.95% | 69,927.85 | 252.78 |
| 2019 | 3 | 3.72% | 72,531.42 | 254.20 |
| 2019 | 4 | -1.53% | 71,420.39 | 255.55 |
| 2019 | 5 | 1.40% | 72,423.67 | 256.09 |
| 2019 | 6 | 3.83% | 75,195.57 | 256.14 |
| 2019 | 7 | -3.13% | 72,838.63 | 256.57 |
| 2019 | 8 | 3.09% | 75,085.87 | 256.56 |
| 2019 | 9 | 0.01% | 75,093.23 | 256.76 |
| 2019 | 10 | 4.43% | 78,422.63 | 257.35 |
| 2019 | 11 | 2.47% | 80,359.14 | 257.21 |
| 2019 | 12 | 3.35% | 83,048.27 | 256.97 |
| 2020 | 1 | 0.12% | 83,149.65 | 257.97 |
| 2020 | 2 | -18.92% | 67,419.64 | 258.68 |
| 2020 | 3 | 4.32% | 70,331.24 | 258.12 |
| 2020 | 4 | 5.89% | 74,471.90 | 256.39 |
| 2020 | 5 | 6.51% | 79,318.73 | 256.39 |
| 2020 | 6 | 3.48% | 82,076.19 | 257.80 |
| 2020 | 7 | 5.89% | 86,913.36 | 259.10 |
| 2020 | 8 | -0.63% | 86,368.41 | 259.92 |
| 2020 | 9 | 1.73% | 87,859.13 | 260.28 |
| 2020 | 10 | 3.95% | 91,333.18 | 260.39 |
| 2020 | 11 | 4.26% | 95,224.05 | 260.23 |
| 2020 | 12 | 2.80% | 97,885.85 | 260.47 |
| 2021 | 1 | 2.49% | 100,324.70 | 261.58 |
| 2021 | 2 | 0.82% | 101,148.72 | 263.01 |
| 2021 | 3 | 6.02% | 107,239.38 | 264.88 |
| 2021 | 4 | 0.76% | 108,054.65 | 267.05 |
| 2021 | 5 | 1.81% | 110,010.89 | 269.20 |
| 2021 | 6 | 3.07% | 113,386.25 | 271.70 |
| 2021 | 7 | 2.19% | 115,863.92 | 273.00 |
| 2021 | 8 | -0.08% | 115,766.02 | 273.57 |
| 2021 | 9 | 0.45% | 116,289.49 | 274.31 |
| 2021 | 10 | 4.74% | 121,807.12 | 276.59 |
| 2021 | 11 | 0.27% | 122,130.40 | 277.95 |
| 2021 | 12 | -2.05% | 119,624.35 | 278.80 |
| 2022 | 1 | -2.90% | 116,152.17 | 281.15 |
| 2022 | 2 | -0.89% | 115,115.41 | 283.72 |
| 2022 | 3 | 0.12% | 115,251.59 | 287.50 |
| 2022 | 4 | -7.87% | 106,178.15 | 289.11 |
| 2022 | 5 | -3.37% | 102,600.60 | 292.30 |
| 2022 | 6 | 0.46% | 103,077.37 | 296.31 |
| 2022 | 7 | 6.45% | 109,723.17 | 296.28 |
| 2022 | 8 | -7.28% | 101,738.17 | 296.17 |
| 2022 | 9 | -3.09% | 98,593.27 | 296.81 |
| 2022 | 10 | 5.29% | 103,804.01 | 298.01 |
| 2022 | 11 | 0.01% | 103,815.26 | 297.71 |
| 2022 | 12 | 1.38% | 105,244.24 | 296.80 |
| 2023 | 1 | 3.15% | 108,556.24 | 299.17 |
| 2023 | 2 | -2.59% | 105,749.60 | 300.84 |
| 2023 | 3 | 4.00% | 109,975.59 | 301.84 |
| 2023 | 4 | 0.74% | 110,786.87 | 303.36 |
| 2023 | 5 | 4.94% | 116,262.17 | 304.13 |
| 2023 | 6 | 3.88% | 120,768.54 | 305.11 |
| 2023 | 7 | -1.00% | 119,563.70 | 305.69 |
| 2023 | 8 | -0.95% | 118,423.57 | 307.03 |
| 2023 | 9 | -3.04% | 114,826.68 | 307.79 |
| 2023 | 10 | 4.60% | 120,110.68 | 307.67 |
| 2023 | 11 | 5.18% | 126,326.71 | 307.05 |
| 2023 | 12 | 2.91% | 130,005.14 | 306.75 |
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 1980. This would result in a final amount of $111,828.14, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $130,005.14).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1980 | 1 | 41.66 | 43.31 |
| 1980 | 2 | 41.66 | 77.34 |
| 1980 | 3 | 41.66 | 117.43 |
| 1980 | 4 | 41.66 | 166.90 |
| 1980 | 5 | 41.66 | 222.68 |
| 1980 | 6 | 41.66 | 277.30 |
| 1980 | 7 | 41.66 | 329.97 |
| 1980 | 8 | 41.66 | 381.99 |
| 1980 | 9 | 41.66 | 437.57 |
| 1980 | 10 | 41.66 | 501.19 |
| 1980 | 11 | 41.66 | 535.93 |
| 1980 | 12 | 41.66 | 577.49 |
| 1981 | 1 | 41.66 | 599.98 |
| 1981 | 2 | 41.66 | 668.05 |
| 1981 | 3 | 41.66 | 718.73 |
| 1981 | 4 | 41.66 | 747.93 |
| 1981 | 5 | 41.66 | 796.20 |
| 1981 | 6 | 41.66 | 820.80 |
| 1981 | 7 | 41.66 | 869.20 |
| 1981 | 8 | 41.66 | 835.06 |
| 1981 | 9 | 41.66 | 891.68 |
| 1981 | 10 | 41.66 | 961.55 |
| 1981 | 11 | 41.66 | 1,014.86 |
| 1981 | 12 | 41.82 | 1,005.73 |
| 1982 | 1 | - | 986.48 |
| 1982 | 2 | - | 959.41 |
| 1982 | 3 | - | 1,011.88 |
| 1982 | 4 | - | 1,017.64 |
| 1982 | 5 | - | 964.01 |
| 1982 | 6 | - | 966.36 |
| 1982 | 7 | - | 974.03 |
| 1982 | 8 | - | 1,091.85 |
| 1982 | 9 | - | 1,188.82 |
| 1982 | 10 | - | 1,242.32 |
| 1982 | 11 | - | 1,259.16 |
| 1982 | 12 | - | 1,308.59 |
| 1983 | 1 | - | 1,336.47 |
| 1983 | 2 | - | 1,388.13 |
| 1983 | 3 | - | 1,446.39 |
| 1983 | 4 | - | 1,510.38 |
| 1983 | 5 | - | 1,536.87 |
| 1983 | 6 | - | 1,547.75 |
| 1983 | 7 | - | 1,510.49 |
| 1983 | 8 | - | 1,560.55 |
| 1983 | 9 | - | 1,570.66 |
| 1983 | 10 | - | 1,552.73 |
| 1983 | 11 | - | 1,550.74 |
| 1983 | 12 | - | 1,575.18 |
| 1984 | 1 | - | 1,494.65 |
| 1984 | 2 | - | 1,501.27 |
| 1984 | 3 | - | 1,508.88 |
| 1984 | 4 | - | 1,505.07 |
| 1984 | 5 | - | 1,477.25 |
| 1984 | 6 | - | 1,463.83 |
| 1984 | 7 | - | 1,598.60 |
| 1984 | 8 | - | 1,621.09 |
| 1984 | 9 | - | 1,614.41 |
| 1984 | 10 | - | 1,635.16 |
| 1984 | 11 | - | 1,623.60 |
| 1984 | 12 | - | 1,699.86 |
| 1985 | 1 | - | 1,798.24 |
| 1985 | 2 | - | 1,789.64 |
| 1985 | 3 | - | 1,807.98 |
| 1985 | 4 | - | 1,857.44 |
| 1985 | 5 | - | 1,904.08 |
| 1985 | 6 | - | 1,946.87 |
| 1985 | 7 | - | 1,910.94 |
| 1985 | 8 | - | 1,874.92 |
| 1985 | 9 | - | 1,902.96 |
| 1985 | 10 | - | 2,025.14 |
| 1985 | 11 | - | 2,132.36 |
| 1985 | 12 | - | 2,148.39 |
| 1986 | 1 | - | 2,270.79 |
| 1986 | 2 | - | 2,411.19 |
| 1986 | 3 | - | 2,477.29 |
| 1986 | 4 | - | 2,489.47 |
| 1986 | 5 | - | 2,567.48 |
| 1986 | 6 | - | 2,521.16 |
| 1986 | 7 | - | 2,578.66 |
| 1986 | 8 | - | 2,515.33 |
| 1986 | 9 | - | 2,513.07 |
| 1986 | 10 | - | 2,601.85 |
| 1986 | 11 | - | 2,646.32 |
| 1986 | 12 | - | 2,822.91 |
| 1987 | 1 | - | 3,005.33 |
| 1987 | 2 | - | 3,136.85 |
| 1987 | 3 | - | 3,109.99 |
| 1987 | 4 | - | 3,115.36 |
| 1987 | 5 | - | 3,255.51 |
| 1987 | 6 | - | 3,357.15 |
| 1987 | 7 | - | 3,573.82 |
| 1987 | 8 | - | 3,465.51 |
| 1987 | 9 | - | 3,054.72 |
| 1987 | 10 | - | 2,678.88 |
| 1987 | 11 | - | 2,643.13 |
| 1987 | 12 | - | 2,755.37 |
| 1988 | 1 | - | 2,847.08 |
| 1988 | 2 | - | 2,939.10 |
| 1988 | 3 | - | 2,913.06 |
| 1988 | 4 | - | 2,849.32 |
| 1988 | 5 | - | 3,020.22 |
| 1988 | 6 | - | 3,010.95 |
| 1988 | 7 | - | 2,959.21 |
| 1988 | 8 | - | 3,016.24 |
| 1988 | 9 | - | 3,130.91 |
| 1988 | 10 | - | 3,067.65 |
| 1988 | 11 | - | 3,139.01 |
| 1988 | 12 | - | 3,249.27 |
| 1989 | 1 | - | 3,356.49 |
| 1989 | 2 | - | 3,351.06 |
| 1989 | 3 | - | 3,470.52 |
| 1989 | 4 | - | 3,613.34 |
| 1989 | 5 | - | 3,735.93 |
| 1989 | 6 | - | 3,840.54 |
| 1989 | 7 | - | 4,020.69 |
| 1989 | 8 | - | 4,039.01 |
| 1989 | 9 | - | 4,050.57 |
| 1989 | 10 | - | 3,977.11 |
| 1989 | 11 | - | 4,085.96 |
| 1989 | 12 | - | 3,995.61 |
| 1990 | 1 | - | 3,894.63 |
| 1990 | 2 | - | 4,000.06 |
| 1990 | 3 | - | 4,007.90 |
| 1990 | 4 | - | 4,162.24 |
| 1990 | 5 | - | 4,294.19 |
| 1990 | 6 | - | 4,301.47 |
| 1990 | 7 | - | 3,963.33 |
| 1990 | 8 | - | 3,791.27 |
| 1990 | 9 | - | 3,703.48 |
| 1990 | 10 | - | 3,813.98 |
| 1990 | 11 | - | 3,988.91 |
| 1990 | 12 | - | 3,961.58 |
| 1991 | 1 | - | 4,421.40 |
| 1991 | 2 | - | 4,556.01 |
| 1991 | 3 | - | 4,658.92 |
| 1991 | 4 | - | 4,650.59 |
| 1991 | 5 | - | 4,666.73 |
| 1991 | 6 | - | 4,703.15 |
| 1991 | 7 | - | 4,829.14 |
| 1991 | 8 | - | 4,814.51 |
| 1991 | 9 | - | 4,823.25 |
| 1991 | 10 | - | 4,824.01 |
| 1991 | 11 | - | 4,869.13 |
| 1991 | 12 | - | 5,227.40 |
| 1992 | 1 | - | 5,195.99 |
| 1992 | 2 | - | 5,143.39 |
| 1992 | 3 | - | 5,156.98 |
| 1992 | 4 | - | 5,263.64 |
| 1992 | 5 | - | 5,193.68 |
| 1992 | 6 | - | 5,292.99 |
| 1992 | 7 | - | 5,342.84 |
| 1992 | 8 | - | 5,363.05 |
| 1992 | 9 | - | 5,299.65 |
| 1992 | 10 | - | 5,445.76 |
| 1992 | 11 | - | 5,623.90 |
| 1992 | 12 | - | 5,631.94 |
| 1993 | 1 | - | 5,729.04 |
| 1993 | 2 | - | 5,852.23 |
| 1993 | 3 | - | 5,773.71 |
| 1993 | 4 | - | 5,815.55 |
| 1993 | 5 | - | 5,865.86 |
| 1993 | 6 | - | 5,869.44 |
| 1993 | 7 | - | 5,972.89 |
| 1993 | 8 | - | 6,053.82 |
| 1993 | 9 | - | 6,129.00 |
| 1993 | 10 | - | 6,129.47 |
| 1993 | 11 | - | 6,183.84 |
| 1993 | 12 | - | 6,291.19 |
| 1994 | 1 | - | 6,286.43 |
| 1994 | 2 | - | 6,196.92 |
| 1994 | 3 | - | 5,989.55 |
| 1994 | 4 | - | 6,052.93 |
| 1994 | 5 | - | 6,120.00 |
| 1994 | 6 | - | 6,088.25 |
| 1994 | 7 | - | 6,275.89 |
| 1994 | 8 | - | 6,327.20 |
| 1994 | 9 | - | 6,299.10 |
| 1994 | 10 | - | 6,275.80 |
| 1994 | 11 | - | 6,211.43 |
| 1994 | 12 | - | 6,363.68 |
| 1995 | 1 | - | 6,606.72 |
| 1995 | 2 | - | 6,775.73 |
| 1995 | 3 | - | 6,993.61 |
| 1995 | 4 | - | 7,227.74 |
| 1995 | 5 | - | 7,457.46 |
| 1995 | 6 | - | 7,722.02 |
| 1995 | 7 | - | 7,761.64 |
| 1995 | 8 | - | 8,050.19 |
| 1995 | 9 | - | 8,123.66 |
| 1995 | 10 | - | 8,315.24 |
| 1995 | 11 | - | 8,597.06 |
| 1995 | 12 | - | 8,611.04 |
| 1996 | 1 | - | 9,119.46 |
| 1996 | 2 | - | 9,101.16 |
| 1996 | 3 | - | 9,119.10 |
| 1996 | 4 | - | 9,333.83 |
| 1996 | 5 | - | 9,453.18 |
| 1996 | 6 | - | 9,124.53 |
| 1996 | 7 | - | 9,405.18 |
| 1996 | 8 | - | 9,595.51 |
| 1996 | 9 | - | 9,990.80 |
| 1996 | 10 | - | 10,495.54 |
| 1996 | 11 | - | 10,621.30 |
| 1996 | 12 | - | 10,967.30 |
| 1997 | 1 | - | 11,445.60 |
| 1997 | 2 | - | 11,374.21 |
| 1997 | 3 | - | 10,986.89 |
| 1997 | 4 | - | 11,999.65 |
| 1997 | 5 | - | 12,640.05 |
| 1997 | 6 | - | 13,365.07 |
| 1997 | 7 | - | 13,411.55 |
| 1997 | 8 | - | 13,571.42 |
| 1997 | 9 | - | 13,794.72 |
| 1997 | 10 | - | 13,635.80 |
| 1997 | 11 | - | 13,995.05 |
| 1997 | 12 | - | 14,028.23 |
| 1998 | 1 | - | 14,926.34 |
| 1998 | 2 | - | 15,719.36 |
| 1998 | 3 | - | 16,254.71 |
| 1998 | 4 | - | 16,218.65 |
| 1998 | 5 | - | 16,237.53 |
| 1998 | 6 | - | 16,962.97 |
| 1998 | 7 | - | 15,780.48 |
| 1998 | 8 | - | 15,007.48 |
| 1998 | 9 | - | 15,201.21 |
| 1998 | 10 | - | 16,869.45 |
| 1998 | 11 | - | 17,561.79 |
| 1998 | 12 | - | 18,448.25 |
| 1999 | 1 | - | 18,435.95 |
| 1999 | 2 | - | 18,974.92 |
| 1999 | 3 | - | 19,781.36 |
| 1999 | 4 | - | 19,761.81 |
| 1999 | 5 | - | 19,640.91 |
| 1999 | 6 | - | 20,529.15 |
| 1999 | 7 | - | 19,754.30 |
| 1999 | 8 | - | 19,636.17 |
| 1999 | 9 | - | 19,386.30 |
| 1999 | 10 | - | 20,763.89 |
| 1999 | 11 | - | 21,347.09 |
| 1999 | 12 | - | 21,321.70 |
| 2000 | 1 | - | 20,793.33 |
| 2000 | 2 | - | 21,612.79 |
| 2000 | 3 | - | 21,920.70 |
| 2000 | 4 | - | 21,298.41 |
| 2000 | 5 | - | 21,972.18 |
| 2000 | 6 | - | 22,159.02 |
| 2000 | 7 | - | 22,367.25 |
| 2000 | 8 | - | 22,125.76 |
| 2000 | 9 | - | 20,972.08 |
| 2000 | 10 | - | 20,810.05 |
| 2000 | 11 | - | 20,119.14 |
| 2000 | 12 | - | 20,210.69 |
| 2001 | 1 | - | 19,778.94 |
| 2001 | 2 | - | 17,983.03 |
| 2001 | 3 | - | 18,063.72 |
| 2001 | 4 | - | 19,306.38 |
| 2001 | 5 | - | 18,845.22 |
| 2001 | 6 | - | 18,343.89 |
| 2001 | 7 | - | 17,968.61 |
| 2001 | 8 | - | 15,947.62 |
| 2001 | 9 | - | 16,455.39 |
| 2001 | 10 | - | 17,286.91 |
| 2001 | 11 | - | 17,540.34 |
| 2001 | 12 | - | 17,488.13 |
| 2002 | 1 | - | 16,901.79 |
| 2002 | 2 | - | 17,737.63 |
| 2002 | 3 | - | 17,114.25 |
| 2002 | 4 | - | 16,631.57 |
| 2002 | 5 | - | 15,646.82 |
| 2002 | 6 | - | 13,963.46 |
| 2002 | 7 | - | 14,122.47 |
| 2002 | 8 | - | 13,450.56 |
| 2002 | 9 | - | 13,266.69 |
| 2002 | 10 | - | 14,145.68 |
| 2002 | 11 | - | 13,999.27 |
| 2002 | 12 | - | 13,968.12 |
| 2003 | 1 | - | 13,072.08 |
| 2003 | 2 | - | 13,243.05 |
| 2003 | 3 | - | 13,943.06 |
| 2003 | 4 | - | 14,683.75 |
| 2003 | 5 | - | 15,521.34 |
| 2003 | 6 | - | 15,613.83 |
| 2003 | 7 | - | 15,587.86 |
| 2003 | 8 | - | 16,080.62 |
| 2003 | 9 | - | 16,406.71 |
| 2003 | 10 | - | 16,605.32 |
| 2003 | 11 | - | 17,114.08 |
| 2003 | 12 | - | 17,958.65 |
| 2004 | 1 | - | 18,153.80 |
| 2004 | 2 | - | 17,869.66 |
| 2004 | 3 | - | 18,042.66 |
| 2004 | 4 | - | 17,580.00 |
| 2004 | 5 | - | 18,082.38 |
| 2004 | 6 | - | 17,677.56 |
| 2004 | 7 | - | 17,432.27 |
| 2004 | 8 | - | 17,917.34 |
| 2004 | 9 | - | 17,935.73 |
| 2004 | 10 | - | 18,791.96 |
| 2004 | 11 | - | 19,304.50 |
| 2004 | 12 | - | 19,044.04 |
| 2005 | 1 | - | 19,364.21 |
| 2005 | 2 | - | 19,314.72 |
| 2005 | 3 | - | 18,849.44 |
| 2005 | 4 | - | 19,101.24 |
| 2005 | 5 | - | 19,517.78 |
| 2005 | 6 | - | 19,870.63 |
| 2005 | 7 | - | 19,932.23 |
| 2005 | 8 | - | 19,987.98 |
| 2005 | 9 | - | 19,463.45 |
| 2005 | 10 | - | 20,234.50 |
| 2005 | 11 | - | 20,668.35 |
| 2005 | 12 | - | 20,971.51 |
| 2006 | 1 | - | 20,968.02 |
| 2006 | 2 | - | 21,279.64 |
| 2006 | 3 | - | 21,449.52 |
| 2006 | 4 | - | 21,280.79 |
| 2006 | 5 | - | 20,704.97 |
| 2006 | 6 | - | 20,854.06 |
| 2006 | 7 | - | 21,331.98 |
| 2006 | 8 | - | 21,871.93 |
| 2006 | 9 | - | 22,662.80 |
| 2006 | 10 | - | 23,116.43 |
| 2006 | 11 | - | 23,613.03 |
| 2006 | 12 | - | 23,776.63 |
| 2007 | 1 | - | 24,156.12 |
| 2007 | 2 | - | 23,558.52 |
| 2007 | 3 | - | 24,543.33 |
| 2007 | 4 | - | 25,375.78 |
| 2007 | 5 | - | 25,463.30 |
| 2007 | 6 | - | 25,609.62 |
| 2007 | 7 | - | 24,533.73 |
| 2007 | 8 | - | 25,288.08 |
| 2007 | 9 | - | 26,044.61 |
| 2007 | 10 | - | 24,792.82 |
| 2007 | 11 | - | 25,099.81 |
| 2007 | 12 | - | 23,434.39 |
| 2008 | 1 | - | 23,067.88 |
| 2008 | 2 | - | 22,461.97 |
| 2008 | 3 | - | 23,415.22 |
| 2008 | 4 | - | 24,015.25 |
| 2008 | 5 | - | 22,995.43 |
| 2008 | 6 | - | 21,597.66 |
| 2008 | 7 | - | 22,053.48 |
| 2008 | 8 | - | 20,984.43 |
| 2008 | 9 | - | 16,746.92 |
| 2008 | 10 | - | 15,305.79 |
| 2008 | 11 | - | 15,252.04 |
| 2008 | 12 | - | 15,084.94 |
| 2009 | 1 | - | 14,073.87 |
| 2009 | 2 | - | 13,273.43 |
| 2009 | 3 | - | 14,908.95 |
| 2009 | 4 | - | 15,901.86 |
| 2009 | 5 | - | 16,358.06 |
| 2009 | 6 | - | 16,567.06 |
| 2009 | 7 | - | 17,912.43 |
| 2009 | 8 | - | 18,566.29 |
| 2009 | 9 | - | 19,012.46 |
| 2009 | 10 | - | 19,410.64 |
| 2009 | 11 | - | 19,842.69 |
| 2009 | 12 | - | 20,111.95 |
| 2010 | 1 | - | 19,529.01 |
| 2010 | 2 | - | 20,689.63 |
| 2010 | 3 | - | 21,535.41 |
| 2010 | 4 | - | 20,268.61 |
| 2010 | 5 | - | 19,550.38 |
| 2010 | 6 | - | 19,519.28 |
| 2010 | 7 | - | 19,687.85 |
| 2010 | 8 | - | 20,351.56 |
| 2010 | 9 | - | 21,283.14 |
| 2010 | 10 | - | 21,813.28 |
| 2010 | 11 | - | 22,623.37 |
| 2010 | 12 | - | 23,406.63 |
| 2011 | 1 | - | 24,144.15 |
| 2011 | 2 | - | 23,875.55 |
| 2011 | 3 | - | 24,405.82 |
| 2011 | 4 | - | 24,566.72 |
| 2011 | 5 | - | 23,666.93 |
| 2011 | 6 | - | 24,401.02 |
| 2011 | 7 | - | 21,863.16 |
| 2011 | 8 | - | 21,690.60 |
| 2011 | 9 | - | 22,345.42 |
| 2011 | 10 | - | 22,740.29 |
| 2011 | 11 | - | 23,093.85 |
| 2011 | 12 | - | 24,198.32 |
| 2012 | 1 | - | 25,205.61 |
| 2012 | 2 | - | 25,932.49 |
| 2012 | 3 | - | 25,922.59 |
| 2012 | 4 | - | 25,121.33 |
| 2012 | 5 | - | 24,831.83 |
| 2012 | 6 | - | 25,557.19 |
| 2012 | 7 | - | 26,422.99 |
| 2012 | 8 | - | 27,221.27 |
| 2012 | 9 | - | 27,162.17 |
| 2012 | 10 | - | 26,391.44 |
| 2012 | 11 | - | 26,965.60 |
| 2012 | 12 | - | 28,116.69 |
| 2013 | 1 | - | 28,772.66 |
| 2013 | 2 | - | 29,555.98 |
| 2013 | 3 | - | 29,985.67 |
| 2013 | 4 | - | 31,357.29 |
| 2013 | 5 | - | 31,006.79 |
| 2013 | 6 | - | 32,015.90 |
| 2013 | 7 | - | 32,096.75 |
| 2013 | 8 | - | 32,479.49 |
| 2013 | 9 | - | 33,167.26 |
| 2013 | 10 | - | 34,447.51 |
| 2013 | 11 | - | 34,971.69 |
| 2013 | 12 | - | 35,310.15 |
| 2014 | 1 | - | 35,264.23 |
| 2014 | 2 | - | 36,224.22 |
| 2014 | 3 | - | 36,297.29 |
| 2014 | 4 | - | 36,853.38 |
| 2014 | 5 | - | 38,031.33 |
| 2014 | 6 | - | 38,600.21 |
| 2014 | 7 | - | 38,435.40 |
| 2014 | 8 | - | 39,118.80 |
| 2014 | 9 | - | 38,083.49 |
| 2014 | 10 | - | 40,256.40 |
| 2014 | 11 | - | 40,511.58 |
| 2014 | 12 | - | 40,061.88 |
| 2015 | 1 | - | 41,194.59 |
| 2015 | 2 | - | 41,217.40 |
| 2015 | 3 | - | 41,579.46 |
| 2015 | 4 | - | 41,986.48 |
| 2015 | 5 | - | 41,803.63 |
| 2015 | 6 | - | 41,770.34 |
| 2015 | 7 | - | 40,757.66 |
| 2015 | 8 | - | 38,920.67 |
| 2015 | 9 | - | 40,600.93 |
| 2015 | 10 | - | 41,791.54 |
| 2015 | 11 | - | 41,330.59 |
| 2015 | 12 | - | 38,677.32 |
| 2016 | 1 | - | 38,464.63 |
| 2016 | 2 | - | 40,912.03 |
| 2016 | 3 | - | 42,070.36 |
| 2016 | 4 | - | 41,942.31 |
| 2016 | 5 | - | 42,389.62 |
| 2016 | 6 | - | 43,787.39 |
| 2016 | 7 | - | 44,312.51 |
| 2016 | 8 | - | 44,118.13 |
| 2016 | 9 | - | 43,894.90 |
| 2016 | 10 | - | 44,422.15 |
| 2016 | 11 | - | 46,175.03 |
| 2016 | 12 | - | 46,838.86 |
| 2017 | 1 | - | 48,045.63 |
| 2017 | 2 | - | 48,886.08 |
| 2017 | 3 | - | 48,810.79 |
| 2017 | 4 | - | 49,636.85 |
| 2017 | 5 | - | 50,518.61 |
| 2017 | 6 | - | 51,017.68 |
| 2017 | 7 | - | 51,144.10 |
| 2017 | 8 | - | 51,989.65 |
| 2017 | 9 | - | 53,411.46 |
| 2017 | 10 | - | 54,260.47 |
| 2017 | 11 | - | 55,825.07 |
| 2017 | 12 | - | 58,539.22 |
| 2018 | 1 | - | 56,849.38 |
| 2018 | 2 | - | 56,886.09 |
| 2018 | 3 | - | 55,939.52 |
| 2018 | 4 | - | 57,036.85 |
| 2018 | 5 | - | 58,242.02 |
| 2018 | 6 | - | 59,162.67 |
| 2018 | 7 | - | 60,612.63 |
| 2018 | 8 | - | 61,630.77 |
| 2018 | 9 | - | 59,258.61 |
| 2018 | 10 | - | 58,028.34 |
| 2018 | 11 | - | 54,800.51 |
| 2018 | 12 | - | 55,751.65 |
| 2019 | 1 | - | 59,001.35 |
| 2019 | 2 | - | 60,150.71 |
| 2019 | 3 | - | 62,390.26 |
| 2019 | 4 | - | 61,434.57 |
| 2019 | 5 | - | 62,297.57 |
| 2019 | 6 | - | 64,681.91 |
| 2019 | 7 | - | 62,654.51 |
| 2019 | 8 | - | 64,587.55 |
| 2019 | 9 | - | 64,593.88 |
| 2019 | 10 | - | 67,457.77 |
| 2019 | 11 | - | 69,123.52 |
| 2019 | 12 | - | 71,436.67 |
| 2020 | 1 | - | 71,523.88 |
| 2020 | 2 | - | 57,993.20 |
| 2020 | 3 | - | 60,497.70 |
| 2020 | 4 | - | 64,059.42 |
| 2020 | 5 | - | 68,228.58 |
| 2020 | 6 | - | 70,600.51 |
| 2020 | 7 | - | 74,761.35 |
| 2020 | 8 | - | 74,292.59 |
| 2020 | 9 | - | 75,574.89 |
| 2020 | 10 | - | 78,563.20 |
| 2020 | 11 | - | 81,910.06 |
| 2020 | 12 | - | 84,199.69 |
| 2021 | 1 | - | 86,297.55 |
| 2021 | 2 | - | 87,006.36 |
| 2021 | 3 | - | 92,245.44 |
| 2021 | 4 | - | 92,946.72 |
| 2021 | 5 | - | 94,629.45 |
| 2021 | 6 | - | 97,532.87 |
| 2021 | 7 | - | 99,664.12 |
| 2021 | 8 | - | 99,579.90 |
| 2021 | 9 | - | 100,030.18 |
| 2021 | 10 | - | 104,776.36 |
| 2021 | 11 | - | 105,054.44 |
| 2021 | 12 | - | 102,898.77 |
| 2022 | 1 | - | 99,912.06 |
| 2022 | 2 | - | 99,020.26 |
| 2022 | 3 | - | 99,137.41 |
| 2022 | 4 | - | 91,332.58 |
| 2022 | 5 | - | 88,255.24 |
| 2022 | 6 | - | 88,665.35 |
| 2022 | 7 | - | 94,381.95 |
| 2022 | 8 | - | 87,513.40 |
| 2022 | 9 | - | 84,808.20 |
| 2022 | 10 | - | 89,290.40 |
| 2022 | 11 | - | 89,300.07 |
| 2022 | 12 | - | 90,529.25 |
| 2023 | 1 | - | 93,378.18 |
| 2023 | 2 | - | 90,963.96 |
| 2023 | 3 | - | 94,599.08 |
| 2023 | 4 | - | 95,296.93 |
| 2023 | 5 | - | 100,006.68 |
| 2023 | 6 | - | 103,882.98 |
| 2023 | 7 | - | 102,846.61 |
| 2023 | 8 | - | 101,865.89 |
| 2023 | 9 | - | 98,771.90 |
| 2023 | 10 | - | 103,317.11 |
| 2023 | 11 | - | 108,664.03 |
| 2023 | 12 | - | 111,828.14 |
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 | $110.90 |
| End Value Average monthly close | $3,960.66 |
| Change in price | +3,471.38% +8.67% / yr |
| Change incl. dividends | +12,900.51% +11.70% / yr |
| Change incl. dividends, inflation-adjusted | +3,415.70% +8.43% / yr |
| Final amount, nominal ($1000 base) | $130,005.14 |
| Final amount, inflation-adjusted ($1000 base) | $35,157.03 |