Stock market returns between 1980 and 2020
If you invested $10000 in the S&P 500 at the beginning of 1980, you would have about $978,858.45 at the end of 2020, assuming you reinvested all dividends. This is a return on investment of 9,688.58%, or 11.83% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,016.47% cumulatively, or 8.75% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $842,003.94.
The graph below shows the performance of $10000 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 $10000 is $968,858.45, or 9,688.58%. This means by 2020 you would have $978,858.45 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 2020 was 258.812.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 40 years.
Adjusted for inflation, the $978,858.45 nominal end value of the original $10000 investment would have a real return of roughly $301,647.22 in 1980 dollars. This means the inflation-adjusted return is 3,016.47% as opposed to the original 9,688.58%.
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 $10000 investment, including gains and losses over the 492-month period between 1980 and 2020.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1980 | 1 | 4.40% | 10,439.59 | 77.80 |
| 1980 | 2 | -8.78% | 9,523.22 | 78.90 |
| 1980 | 3 | -1.16% | 9,412.55 | 80.10 |
| 1980 | 4 | 5.04% | 9,886.58 | 81.00 |
| 1980 | 5 | 6.86% | 10,565.07 | 81.80 |
| 1980 | 6 | 4.97% | 11,090.09 | 82.70 |
| 1980 | 7 | 3.50% | 11,478.77 | 82.70 |
| 1980 | 8 | 2.84% | 11,804.28 | 83.30 |
| 1980 | 9 | 3.32% | 12,196.75 | 84.00 |
| 1980 | 10 | 4.61% | 12,759.59 | 84.80 |
| 1980 | 11 | -1.24% | 12,600.76 | 85.50 |
| 1980 | 12 | 0.01% | 12,602.02 | 86.30 |
| 1981 | 1 | -3.07% | 12,215.11 | 87.00 |
| 1981 | 2 | 4.14% | 12,721.22 | 87.90 |
| 1981 | 3 | 1.29% | 12,885.81 | 88.50 |
| 1981 | 4 | -1.62% | 12,677.41 | 89.10 |
| 1981 | 5 | 0.86% | 12,786.13 | 89.80 |
| 1981 | 6 | -2.02% | 12,528.33 | 90.60 |
| 1981 | 7 | 0.80% | 12,628.88 | 91.60 |
| 1981 | 8 | -8.30% | 11,580.34 | 92.30 |
| 1981 | 9 | 1.73% | 11,780.36 | 93.20 |
| 1981 | 10 | 3.04% | 12,138.93 | 93.40 |
| 1981 | 11 | 1.18% | 12,282.09 | 93.70 |
| 1981 | 12 | -4.80% | 11,692.04 | 94.00 |
| 1982 | 1 | -1.91% | 11,468.27 | 94.30 |
| 1982 | 2 | -2.74% | 11,153.52 | 94.60 |
| 1982 | 3 | 5.47% | 11,763.54 | 94.50 |
| 1982 | 4 | 0.57% | 11,830.55 | 94.90 |
| 1982 | 5 | -5.27% | 11,207.01 | 95.80 |
| 1982 | 6 | 0.24% | 11,234.33 | 97.00 |
| 1982 | 7 | 0.79% | 11,323.53 | 97.50 |
| 1982 | 8 | 12.10% | 12,693.27 | 97.70 |
| 1982 | 9 | 8.88% | 13,820.61 | 97.90 |
| 1982 | 10 | 4.50% | 14,442.53 | 98.20 |
| 1982 | 11 | 1.36% | 14,638.29 | 98.00 |
| 1982 | 12 | 3.93% | 15,212.96 | 97.60 |
| 1983 | 1 | 2.13% | 15,537.00 | 97.80 |
| 1983 | 2 | 3.87% | 16,137.60 | 97.90 |
| 1983 | 3 | 4.20% | 16,814.95 | 97.90 |
| 1983 | 4 | 4.42% | 17,558.85 | 98.60 |
| 1983 | 5 | 1.75% | 17,866.74 | 99.20 |
| 1983 | 6 | 0.71% | 17,993.26 | 99.50 |
| 1983 | 7 | -2.41% | 17,560.13 | 99.90 |
| 1983 | 8 | 3.31% | 18,142.05 | 100.20 |
| 1983 | 9 | 0.65% | 18,259.59 | 100.70 |
| 1983 | 10 | -1.14% | 18,051.17 | 101.00 |
| 1983 | 11 | -0.13% | 18,028.05 | 101.20 |
| 1983 | 12 | 1.58% | 18,312.16 | 101.30 |
| 1984 | 1 | -5.11% | 17,376.01 | 101.90 |
| 1984 | 2 | 0.44% | 17,452.87 | 102.40 |
| 1984 | 3 | 0.51% | 17,541.39 | 102.60 |
| 1984 | 4 | -0.25% | 17,497.09 | 103.10 |
| 1984 | 5 | -1.85% | 17,173.69 | 103.40 |
| 1984 | 6 | -0.91% | 17,017.67 | 103.70 |
| 1984 | 7 | 9.21% | 18,584.42 | 104.10 |
| 1984 | 8 | 1.41% | 18,845.89 | 104.50 |
| 1984 | 9 | -0.41% | 18,768.17 | 105.00 |
| 1984 | 10 | 1.29% | 19,009.51 | 105.30 |
| 1984 | 11 | -0.71% | 18,875.01 | 105.30 |
| 1984 | 12 | 4.70% | 19,761.67 | 105.30 |
| 1985 | 1 | 5.79% | 20,905.35 | 105.50 |
| 1985 | 2 | -0.48% | 20,805.36 | 106.00 |
| 1985 | 3 | 1.02% | 21,018.56 | 106.40 |
| 1985 | 4 | 2.74% | 21,593.55 | 106.90 |
| 1985 | 5 | 2.51% | 22,135.75 | 107.30 |
| 1985 | 6 | 2.25% | 22,633.19 | 107.60 |
| 1985 | 7 | -1.85% | 22,215.54 | 107.80 |
| 1985 | 8 | -1.88% | 21,796.78 | 108.00 |
| 1985 | 9 | 1.50% | 22,122.76 | 108.30 |
| 1985 | 10 | 6.42% | 23,543.16 | 108.70 |
| 1985 | 11 | 5.29% | 24,789.65 | 109.00 |
| 1985 | 12 | 0.75% | 24,976.00 | 109.30 |
| 1986 | 1 | 5.70% | 26,398.95 | 109.60 |
| 1986 | 2 | 6.18% | 28,031.14 | 109.30 |
| 1986 | 3 | 2.74% | 28,799.59 | 108.80 |
| 1986 | 4 | 0.49% | 28,941.23 | 108.60 |
| 1986 | 5 | 3.13% | 29,848.03 | 108.90 |
| 1986 | 6 | -1.80% | 29,309.60 | 109.50 |
| 1986 | 7 | 2.28% | 29,978.11 | 109.50 |
| 1986 | 8 | -2.46% | 29,241.78 | 109.70 |
| 1986 | 9 | -0.09% | 29,215.50 | 110.20 |
| 1986 | 10 | 3.53% | 30,247.66 | 110.30 |
| 1986 | 11 | 1.71% | 30,764.58 | 110.40 |
| 1986 | 12 | 6.67% | 32,817.61 | 110.50 |
| 1987 | 1 | 6.46% | 34,938.25 | 111.20 |
| 1987 | 2 | 4.38% | 36,467.29 | 111.60 |
| 1987 | 3 | -0.86% | 36,154.98 | 112.10 |
| 1987 | 4 | 0.17% | 36,217.46 | 112.70 |
| 1987 | 5 | 4.50% | 37,846.69 | 113.10 |
| 1987 | 6 | 3.12% | 39,028.30 | 113.50 |
| 1987 | 7 | 6.45% | 41,547.19 | 113.80 |
| 1987 | 8 | -3.03% | 40,288.13 | 114.40 |
| 1987 | 9 | -11.85% | 35,512.42 | 115.00 |
| 1987 | 10 | -12.30% | 31,143.18 | 115.30 |
| 1987 | 11 | -1.33% | 30,727.52 | 115.40 |
| 1987 | 12 | 4.25% | 32,032.37 | 115.40 |
| 1988 | 1 | 3.33% | 33,098.59 | 115.70 |
| 1988 | 2 | 3.23% | 34,168.36 | 116.00 |
| 1988 | 3 | -0.89% | 33,865.62 | 116.50 |
| 1988 | 4 | -2.19% | 33,124.55 | 117.10 |
| 1988 | 5 | 6.00% | 35,111.42 | 117.50 |
| 1988 | 6 | -0.31% | 35,003.66 | 118.00 |
| 1988 | 7 | -1.72% | 34,402.13 | 118.50 |
| 1988 | 8 | 1.93% | 35,065.11 | 119.00 |
| 1988 | 9 | 3.80% | 36,398.16 | 119.80 |
| 1988 | 10 | -2.02% | 35,662.82 | 120.20 |
| 1988 | 11 | 2.33% | 36,492.32 | 120.30 |
| 1988 | 12 | 3.51% | 37,774.17 | 120.50 |
| 1989 | 1 | 3.30% | 39,020.67 | 121.10 |
| 1989 | 2 | -0.16% | 38,957.58 | 121.60 |
| 1989 | 3 | 3.56% | 40,346.34 | 122.30 |
| 1989 | 4 | 4.12% | 42,006.72 | 123.10 |
| 1989 | 5 | 3.39% | 43,431.85 | 123.80 |
| 1989 | 6 | 2.80% | 44,648.02 | 124.10 |
| 1989 | 7 | 4.69% | 46,742.34 | 124.40 |
| 1989 | 8 | 0.46% | 46,955.27 | 124.60 |
| 1989 | 9 | 0.29% | 47,089.68 | 125.00 |
| 1989 | 10 | -1.81% | 46,235.69 | 125.60 |
| 1989 | 11 | 2.74% | 47,501.02 | 125.90 |
| 1989 | 12 | -2.21% | 46,450.67 | 126.10 |
| 1990 | 1 | -2.53% | 45,276.78 | 127.40 |
| 1990 | 2 | 2.71% | 46,502.49 | 128.00 |
| 1990 | 3 | 0.20% | 46,593.63 | 128.70 |
| 1990 | 4 | 3.85% | 48,387.92 | 128.90 |
| 1990 | 5 | 3.17% | 49,921.79 | 129.20 |
| 1990 | 6 | 0.17% | 50,006.52 | 129.90 |
| 1990 | 7 | -7.86% | 46,075.40 | 130.40 |
| 1990 | 8 | -4.34% | 44,075.24 | 131.60 |
| 1990 | 9 | -2.32% | 43,054.55 | 132.70 |
| 1990 | 10 | 2.98% | 44,339.22 | 133.50 |
| 1990 | 11 | 4.59% | 46,372.89 | 133.80 |
| 1990 | 12 | -0.69% | 46,055.15 | 133.80 |
| 1991 | 1 | 11.61% | 51,400.67 | 134.60 |
| 1991 | 2 | 3.04% | 52,965.63 | 134.80 |
| 1991 | 3 | 2.26% | 54,162.03 | 135.00 |
| 1991 | 4 | -0.18% | 54,065.15 | 135.20 |
| 1991 | 5 | 0.35% | 54,252.76 | 135.60 |
| 1991 | 6 | 0.78% | 54,676.19 | 136.00 |
| 1991 | 7 | 2.68% | 56,140.93 | 136.20 |
| 1991 | 8 | -0.30% | 55,970.77 | 136.60 |
| 1991 | 9 | 0.18% | 56,072.44 | 137.20 |
| 1991 | 10 | 0.02% | 56,081.29 | 137.40 |
| 1991 | 11 | 0.94% | 56,605.73 | 137.80 |
| 1991 | 12 | 7.36% | 60,770.80 | 137.90 |
| 1992 | 1 | -0.60% | 60,405.66 | 138.10 |
| 1992 | 2 | -1.01% | 59,794.12 | 138.60 |
| 1992 | 3 | 0.26% | 59,952.16 | 139.30 |
| 1992 | 4 | 2.07% | 61,192.18 | 139.50 |
| 1992 | 5 | -1.33% | 60,378.86 | 139.70 |
| 1992 | 6 | 1.91% | 61,533.39 | 140.20 |
| 1992 | 7 | 0.94% | 62,112.86 | 140.50 |
| 1992 | 8 | 0.38% | 62,347.76 | 140.90 |
| 1992 | 9 | -1.18% | 61,610.78 | 141.30 |
| 1992 | 10 | 2.76% | 63,309.33 | 141.80 |
| 1992 | 11 | 3.27% | 65,380.30 | 142.00 |
| 1992 | 12 | 0.14% | 65,473.73 | 141.90 |
| 1993 | 1 | 1.72% | 66,602.66 | 142.60 |
| 1993 | 2 | 2.15% | 68,034.71 | 143.10 |
| 1993 | 3 | -1.34% | 67,121.86 | 143.60 |
| 1993 | 4 | 0.72% | 67,608.31 | 144.00 |
| 1993 | 5 | 0.87% | 68,193.25 | 144.20 |
| 1993 | 6 | 0.06% | 68,234.85 | 144.40 |
| 1993 | 7 | 1.76% | 69,437.46 | 144.40 |
| 1993 | 8 | 1.35% | 70,378.32 | 144.80 |
| 1993 | 9 | 1.24% | 71,252.35 | 145.10 |
| 1993 | 10 | 0.01% | 71,257.73 | 145.70 |
| 1993 | 11 | 0.89% | 71,889.91 | 145.80 |
| 1993 | 12 | 1.74% | 73,137.84 | 145.80 |
| 1994 | 1 | -0.08% | 73,082.47 | 146.20 |
| 1994 | 2 | -1.42% | 72,041.91 | 146.70 |
| 1994 | 3 | -3.35% | 69,631.11 | 147.20 |
| 1994 | 4 | 1.06% | 70,367.98 | 147.40 |
| 1994 | 5 | 1.11% | 71,147.72 | 147.50 |
| 1994 | 6 | -0.52% | 70,778.55 | 148.00 |
| 1994 | 7 | 3.08% | 72,960.00 | 148.40 |
| 1994 | 8 | 0.82% | 73,556.43 | 149.00 |
| 1994 | 9 | -0.44% | 73,229.83 | 149.40 |
| 1994 | 10 | -0.37% | 72,958.97 | 149.50 |
| 1994 | 11 | -1.03% | 72,210.62 | 149.70 |
| 1994 | 12 | 2.45% | 73,980.63 | 149.70 |
| 1995 | 1 | 3.82% | 76,806.02 | 150.30 |
| 1995 | 2 | 2.56% | 78,770.85 | 150.90 |
| 1995 | 3 | 3.22% | 81,303.77 | 151.40 |
| 1995 | 4 | 3.35% | 84,025.62 | 151.90 |
| 1995 | 5 | 3.18% | 86,696.31 | 152.20 |
| 1995 | 6 | 3.55% | 89,771.84 | 152.50 |
| 1995 | 7 | 0.51% | 90,232.49 | 152.50 |
| 1995 | 8 | 3.72% | 93,587.03 | 152.90 |
| 1995 | 9 | 0.91% | 94,441.07 | 153.20 |
| 1995 | 10 | 2.36% | 96,668.36 | 153.70 |
| 1995 | 11 | 3.39% | 99,944.58 | 153.60 |
| 1995 | 12 | 0.16% | 100,107.07 | 153.50 |
| 1996 | 1 | 5.90% | 106,017.79 | 154.40 |
| 1996 | 2 | -0.20% | 105,805.01 | 154.90 |
| 1996 | 3 | 0.20% | 106,013.49 | 155.70 |
| 1996 | 4 | 2.35% | 108,509.92 | 156.30 |
| 1996 | 5 | 1.28% | 109,897.32 | 156.60 |
| 1996 | 6 | -3.48% | 106,076.67 | 156.70 |
| 1996 | 7 | 3.08% | 109,339.33 | 157.00 |
| 1996 | 8 | 2.02% | 111,552.06 | 157.30 |
| 1996 | 9 | 4.12% | 116,147.44 | 157.80 |
| 1996 | 10 | 5.05% | 122,015.31 | 158.30 |
| 1996 | 11 | 1.20% | 123,477.33 | 158.60 |
| 1996 | 12 | 3.26% | 127,499.65 | 158.60 |
| 1997 | 1 | 4.36% | 133,060.12 | 159.10 |
| 1997 | 2 | -0.62% | 132,230.24 | 159.60 |
| 1997 | 3 | -3.41% | 127,727.48 | 160.00 |
| 1997 | 4 | 9.22% | 139,501.18 | 160.20 |
| 1997 | 5 | 5.34% | 146,946.11 | 160.10 |
| 1997 | 6 | 5.74% | 155,374.83 | 160.30 |
| 1997 | 7 | 0.35% | 155,915.21 | 160.50 |
| 1997 | 8 | 1.19% | 157,773.73 | 160.80 |
| 1997 | 9 | 1.65% | 160,369.70 | 161.20 |
| 1997 | 10 | -1.15% | 158,522.17 | 161.60 |
| 1997 | 11 | 2.63% | 162,698.63 | 161.50 |
| 1997 | 12 | 0.24% | 163,084.36 | 161.30 |
| 1998 | 1 | 6.40% | 173,525.28 | 161.60 |
| 1998 | 2 | 5.31% | 182,744.46 | 161.90 |
| 1998 | 3 | 3.41% | 188,968.14 | 162.20 |
| 1998 | 4 | -0.22% | 188,548.90 | 162.50 |
| 1998 | 5 | 0.12% | 188,768.48 | 162.80 |
| 1998 | 6 | 4.47% | 197,202.03 | 163.00 |
| 1998 | 7 | -6.97% | 183,455.06 | 163.20 |
| 1998 | 8 | -4.90% | 174,468.61 | 163.40 |
| 1998 | 9 | 1.29% | 176,720.75 | 163.60 |
| 1998 | 10 | 10.97% | 196,114.76 | 164.00 |
| 1998 | 11 | 4.10% | 204,163.51 | 164.00 |
| 1998 | 12 | 5.05% | 214,469.05 | 163.90 |
| 1999 | 1 | -0.07% | 214,325.98 | 164.30 |
| 1999 | 2 | 2.92% | 220,591.82 | 164.50 |
| 1999 | 3 | 4.25% | 229,967.02 | 165.00 |
| 1999 | 4 | -0.10% | 229,739.74 | 166.20 |
| 1999 | 5 | -0.61% | 228,334.27 | 166.20 |
| 1999 | 6 | 4.52% | 238,660.43 | 166.20 |
| 1999 | 7 | -3.77% | 229,652.46 | 166.70 |
| 1999 | 8 | -0.60% | 228,279.10 | 167.10 |
| 1999 | 9 | -1.27% | 225,374.32 | 167.90 |
| 1999 | 10 | 7.11% | 241,389.30 | 168.20 |
| 1999 | 11 | 2.81% | 248,169.28 | 168.30 |
| 1999 | 12 | -0.12% | 247,874.12 | 168.30 |
| 2000 | 1 | -2.48% | 241,731.61 | 168.80 |
| 2000 | 2 | 3.94% | 251,258.14 | 169.80 |
| 2000 | 3 | 1.42% | 254,837.73 | 171.20 |
| 2000 | 4 | -2.84% | 247,603.41 | 171.30 |
| 2000 | 5 | 3.16% | 255,436.30 | 171.50 |
| 2000 | 6 | 0.85% | 257,608.38 | 172.40 |
| 2000 | 7 | 0.94% | 260,029.15 | 172.80 |
| 2000 | 8 | -1.08% | 257,221.75 | 172.80 |
| 2000 | 9 | -5.21% | 243,809.61 | 173.70 |
| 2000 | 10 | -0.77% | 241,926.03 | 174.00 |
| 2000 | 11 | -3.32% | 233,893.91 | 174.10 |
| 2000 | 12 | 0.46% | 234,958.14 | 174.00 |
| 2001 | 1 | -2.14% | 229,938.83 | 175.10 |
| 2001 | 2 | -9.08% | 209,060.61 | 175.80 |
| 2001 | 3 | 0.45% | 209,998.65 | 176.20 |
| 2001 | 4 | 6.88% | 224,445.15 | 176.90 |
| 2001 | 5 | -2.39% | 219,083.94 | 177.70 |
| 2001 | 6 | -2.66% | 213,255.81 | 178.00 |
| 2001 | 7 | -2.05% | 208,892.94 | 177.50 |
| 2001 | 8 | -11.25% | 185,398.07 | 177.50 |
| 2001 | 9 | 3.18% | 191,301.20 | 178.30 |
| 2001 | 10 | 5.05% | 200,967.93 | 177.70 |
| 2001 | 11 | 1.47% | 203,914.22 | 177.40 |
| 2001 | 12 | -0.30% | 203,307.19 | 176.70 |
| 2002 | 1 | -3.35% | 196,490.77 | 177.10 |
| 2002 | 2 | 4.95% | 206,207.77 | 177.80 |
| 2002 | 3 | -3.51% | 198,960.74 | 178.80 |
| 2002 | 4 | -2.82% | 193,349.31 | 179.80 |
| 2002 | 5 | -5.92% | 181,901.18 | 179.80 |
| 2002 | 6 | -10.76% | 162,331.34 | 179.90 |
| 2002 | 7 | 1.14% | 164,179.95 | 180.10 |
| 2002 | 8 | -4.76% | 156,368.71 | 180.70 |
| 2002 | 9 | -1.37% | 154,231.09 | 181.00 |
| 2002 | 10 | 6.63% | 164,449.79 | 181.30 |
| 2002 | 11 | -1.04% | 162,747.63 | 181.30 |
| 2002 | 12 | -0.22% | 162,385.49 | 180.90 |
| 2003 | 1 | -6.41% | 151,968.73 | 181.70 |
| 2003 | 2 | 1.31% | 153,956.32 | 183.10 |
| 2003 | 3 | 5.29% | 162,094.24 | 184.20 |
| 2003 | 4 | 5.31% | 170,705.02 | 183.80 |
| 2003 | 5 | 5.70% | 180,442.35 | 183.50 |
| 2003 | 6 | 0.60% | 181,517.61 | 183.70 |
| 2003 | 7 | -0.17% | 181,215.70 | 183.90 |
| 2003 | 8 | 3.16% | 186,944.26 | 184.60 |
| 2003 | 9 | 2.03% | 190,735.17 | 185.20 |
| 2003 | 10 | 1.21% | 193,044.18 | 185.00 |
| 2003 | 11 | 3.06% | 198,958.69 | 184.50 |
| 2003 | 12 | 4.93% | 208,777.23 | 184.30 |
| 2004 | 1 | 1.09% | 211,045.93 | 185.20 |
| 2004 | 2 | -1.57% | 207,742.65 | 186.20 |
| 2004 | 3 | 0.97% | 209,753.88 | 187.40 |
| 2004 | 4 | -2.56% | 204,375.26 | 188.00 |
| 2004 | 5 | 2.86% | 210,215.64 | 189.10 |
| 2004 | 6 | -2.24% | 205,509.38 | 189.70 |
| 2004 | 7 | -1.39% | 202,657.79 | 189.40 |
| 2004 | 8 | 2.78% | 208,297.00 | 189.50 |
| 2004 | 9 | 0.10% | 208,510.70 | 189.90 |
| 2004 | 10 | 4.77% | 218,464.78 | 190.90 |
| 2004 | 11 | 2.73% | 224,423.30 | 191.00 |
| 2004 | 12 | -1.35% | 221,395.33 | 190.30 |
| 2005 | 1 | 1.68% | 225,117.44 | 190.70 |
| 2005 | 2 | -0.26% | 224,542.07 | 191.80 |
| 2005 | 3 | -2.41% | 219,133.03 | 193.30 |
| 2005 | 4 | 1.34% | 222,060.37 | 194.60 |
| 2005 | 5 | 2.18% | 226,902.83 | 194.40 |
| 2005 | 6 | 1.81% | 231,004.76 | 194.50 |
| 2005 | 7 | 0.31% | 231,720.92 | 195.40 |
| 2005 | 8 | 0.28% | 232,369.02 | 196.40 |
| 2005 | 9 | -2.62% | 226,271.14 | 198.80 |
| 2005 | 10 | 3.96% | 235,234.97 | 199.20 |
| 2005 | 11 | 2.14% | 240,278.72 | 197.60 |
| 2005 | 12 | 1.47% | 243,803.05 | 196.80 |
| 2006 | 1 | -0.02% | 243,762.49 | 198.30 |
| 2006 | 2 | 1.49% | 247,385.13 | 198.70 |
| 2006 | 3 | 0.80% | 249,360.09 | 199.80 |
| 2006 | 4 | -0.79% | 247,398.53 | 201.50 |
| 2006 | 5 | -2.71% | 240,704.44 | 202.50 |
| 2006 | 6 | 0.72% | 242,437.61 | 202.90 |
| 2006 | 7 | 2.29% | 247,993.69 | 203.50 |
| 2006 | 8 | 2.53% | 254,270.84 | 203.90 |
| 2006 | 9 | 3.62% | 263,465.06 | 202.90 |
| 2006 | 10 | 2.00% | 268,738.69 | 201.80 |
| 2006 | 11 | 2.15% | 274,511.91 | 201.50 |
| 2006 | 12 | 0.69% | 276,413.80 | 201.80 |
| 2007 | 1 | 1.60% | 280,825.49 | 202.42 |
| 2007 | 2 | -2.47% | 273,878.18 | 203.50 |
| 2007 | 3 | 4.18% | 285,327.00 | 205.35 |
| 2007 | 4 | 3.39% | 295,004.59 | 206.69 |
| 2007 | 5 | 0.34% | 296,022.06 | 207.95 |
| 2007 | 6 | 0.57% | 297,723.06 | 208.35 |
| 2007 | 7 | -4.20% | 285,215.39 | 208.30 |
| 2007 | 8 | 3.07% | 293,985.04 | 207.92 |
| 2007 | 9 | 2.99% | 302,779.99 | 208.49 |
| 2007 | 10 | -4.81% | 288,227.44 | 208.94 |
| 2007 | 11 | 1.24% | 291,796.34 | 210.18 |
| 2007 | 12 | -6.64% | 272,435.07 | 210.04 |
| 2008 | 1 | -1.56% | 268,174.28 | 211.08 |
| 2008 | 2 | -2.63% | 261,130.32 | 211.69 |
| 2008 | 3 | 4.24% | 272,212.18 | 213.53 |
| 2008 | 4 | 2.56% | 279,187.90 | 214.82 |
| 2008 | 5 | -4.25% | 267,331.95 | 216.63 |
| 2008 | 6 | -6.08% | 251,082.26 | 218.82 |
| 2008 | 7 | 2.11% | 256,381.44 | 219.96 |
| 2008 | 8 | -4.85% | 243,953.25 | 219.09 |
| 2008 | 9 | -20.19% | 194,690.34 | 218.78 |
| 2008 | 10 | -8.61% | 177,936.56 | 216.57 |
| 2008 | 11 | -0.35% | 177,311.62 | 212.43 |
| 2008 | 12 | -1.10% | 175,369.07 | 210.23 |
| 2009 | 1 | -6.70% | 163,614.95 | 211.14 |
| 2009 | 2 | -5.69% | 154,309.45 | 212.19 |
| 2009 | 3 | 12.32% | 173,323.08 | 212.71 |
| 2009 | 4 | 6.66% | 184,866.08 | 213.24 |
| 2009 | 5 | 2.87% | 190,169.63 | 213.86 |
| 2009 | 6 | 1.28% | 192,599.32 | 215.69 |
| 2009 | 7 | 8.12% | 208,239.82 | 215.35 |
| 2009 | 8 | 3.65% | 215,841.29 | 215.83 |
| 2009 | 9 | 2.40% | 221,028.19 | 215.97 |
| 2009 | 10 | 2.09% | 225,657.24 | 216.18 |
| 2009 | 11 | 2.23% | 230,680.05 | 216.33 |
| 2009 | 12 | 1.36% | 233,810.30 | 215.95 |
| 2010 | 1 | -2.90% | 227,033.37 | 216.69 |
| 2010 | 2 | 5.94% | 240,526.05 | 216.74 |
| 2010 | 3 | 4.09% | 250,358.59 | 217.63 |
| 2010 | 4 | -5.88% | 235,631.50 | 218.01 |
| 2010 | 5 | -3.54% | 227,281.75 | 218.18 |
| 2010 | 6 | -0.16% | 226,920.20 | 217.97 |
| 2010 | 7 | 0.86% | 228,879.91 | 218.01 |
| 2010 | 8 | 3.37% | 236,595.81 | 218.31 |
| 2010 | 9 | 4.58% | 247,425.83 | 218.44 |
| 2010 | 10 | 2.49% | 253,589.00 | 218.71 |
| 2010 | 11 | 3.71% | 263,006.62 | 218.80 |
| 2010 | 12 | 3.46% | 272,112.42 | 219.18 |
| 2011 | 1 | 3.15% | 280,686.31 | 220.22 |
| 2011 | 2 | -1.11% | 277,563.79 | 221.31 |
| 2011 | 3 | 2.22% | 283,728.43 | 223.47 |
| 2011 | 4 | 0.66% | 285,598.87 | 224.91 |
| 2011 | 5 | -3.66% | 275,138.52 | 225.96 |
| 2011 | 6 | 3.10% | 283,672.59 | 225.72 |
| 2011 | 7 | -10.40% | 254,168.81 | 225.92 |
| 2011 | 8 | -0.79% | 252,162.79 | 226.55 |
| 2011 | 9 | 3.02% | 259,775.35 | 226.89 |
| 2011 | 10 | 1.77% | 264,365.90 | 226.42 |
| 2011 | 11 | 1.55% | 268,476.13 | 226.23 |
| 2011 | 12 | 4.78% | 281,316.16 | 225.67 |
| 2012 | 1 | 4.16% | 293,026.25 | 226.67 |
| 2012 | 2 | 2.88% | 301,476.65 | 227.66 |
| 2012 | 3 | -0.04% | 301,361.45 | 229.39 |
| 2012 | 4 | -3.09% | 292,046.51 | 230.09 |
| 2012 | 5 | -1.15% | 288,680.94 | 229.82 |
| 2012 | 6 | 2.92% | 297,113.56 | 229.48 |
| 2012 | 7 | 3.39% | 307,178.88 | 229.10 |
| 2012 | 8 | 3.02% | 316,459.26 | 230.38 |
| 2012 | 9 | -0.22% | 315,772.12 | 231.41 |
| 2012 | 10 | -2.84% | 306,812.10 | 231.32 |
| 2012 | 11 | 2.18% | 313,486.91 | 230.22 |
| 2012 | 12 | 4.27% | 326,868.92 | 229.60 |
| 2013 | 1 | 2.33% | 334,494.84 | 230.28 |
| 2013 | 2 | 2.72% | 343,601.31 | 232.17 |
| 2013 | 3 | 1.45% | 348,596.55 | 232.77 |
| 2013 | 4 | 4.57% | 364,542.30 | 232.53 |
| 2013 | 5 | -1.12% | 360,467.54 | 232.95 |
| 2013 | 6 | 3.25% | 372,198.87 | 233.50 |
| 2013 | 7 | 0.25% | 373,138.78 | 233.60 |
| 2013 | 8 | 1.19% | 377,588.34 | 233.88 |
| 2013 | 9 | 2.12% | 385,583.96 | 234.15 |
| 2013 | 10 | 3.86% | 400,467.48 | 233.55 |
| 2013 | 11 | 1.52% | 406,561.24 | 233.07 |
| 2013 | 12 | 0.97% | 410,495.97 | 233.05 |
| 2014 | 1 | -0.13% | 409,962.18 | 233.92 |
| 2014 | 2 | 2.72% | 421,122.45 | 234.78 |
| 2014 | 3 | 0.20% | 421,971.96 | 236.29 |
| 2014 | 4 | 1.53% | 428,436.71 | 237.07 |
| 2014 | 5 | 3.20% | 442,130.91 | 237.90 |
| 2014 | 6 | 1.50% | 448,744.40 | 238.34 |
| 2014 | 7 | -0.43% | 446,828.48 | 238.25 |
| 2014 | 8 | 1.78% | 454,773.25 | 237.85 |
| 2014 | 9 | -2.65% | 442,737.29 | 238.03 |
| 2014 | 10 | 5.71% | 467,998.34 | 237.43 |
| 2014 | 11 | 0.63% | 470,964.93 | 236.15 |
| 2014 | 12 | -1.11% | 465,737.00 | 234.81 |
| 2015 | 1 | 2.83% | 478,905.24 | 233.71 |
| 2015 | 2 | 0.06% | 479,170.38 | 234.72 |
| 2015 | 3 | 0.88% | 483,379.46 | 236.12 |
| 2015 | 4 | 0.98% | 488,111.28 | 236.60 |
| 2015 | 5 | -0.44% | 485,985.55 | 237.81 |
| 2015 | 6 | -0.08% | 485,598.56 | 238.64 |
| 2015 | 7 | -2.42% | 473,825.72 | 238.65 |
| 2015 | 8 | -4.51% | 452,469.94 | 238.32 |
| 2015 | 9 | 4.32% | 472,003.61 | 237.95 |
| 2015 | 10 | 2.93% | 485,844.98 | 237.84 |
| 2015 | 11 | -1.10% | 480,486.25 | 237.34 |
| 2015 | 12 | -6.42% | 449,640.85 | 236.53 |
| 2016 | 1 | -0.55% | 447,168.24 | 236.92 |
| 2016 | 2 | 6.36% | 475,620.33 | 237.11 |
| 2016 | 3 | 2.83% | 489,086.38 | 238.13 |
| 2016 | 4 | -0.30% | 487,597.77 | 239.26 |
| 2016 | 5 | 1.07% | 492,797.96 | 240.23 |
| 2016 | 6 | 3.30% | 509,047.67 | 241.02 |
| 2016 | 7 | 1.20% | 515,152.46 | 240.63 |
| 2016 | 8 | -0.44% | 512,892.63 | 240.85 |
| 2016 | 9 | -0.51% | 510,297.49 | 241.43 |
| 2016 | 10 | 1.20% | 516,426.99 | 241.73 |
| 2016 | 11 | 3.95% | 536,805.01 | 241.35 |
| 2016 | 12 | 1.44% | 544,522.30 | 241.43 |
| 2017 | 1 | 2.58% | 558,551.62 | 242.84 |
| 2017 | 2 | 1.75% | 568,322.12 | 243.60 |
| 2017 | 3 | -0.15% | 567,446.89 | 243.80 |
| 2017 | 4 | 1.69% | 577,050.20 | 244.52 |
| 2017 | 5 | 1.78% | 587,301.09 | 244.73 |
| 2017 | 6 | 0.99% | 593,102.94 | 244.96 |
| 2017 | 7 | 0.25% | 594,572.68 | 244.79 |
| 2017 | 8 | 1.65% | 604,402.53 | 245.52 |
| 2017 | 9 | 2.73% | 620,931.73 | 246.82 |
| 2017 | 10 | 1.59% | 630,801.86 | 246.66 |
| 2017 | 11 | 2.88% | 648,990.95 | 246.67 |
| 2017 | 12 | 4.86% | 680,544.23 | 246.52 |
| 2018 | 1 | -2.89% | 660,899.05 | 247.87 |
| 2018 | 2 | 0.06% | 661,325.85 | 248.99 |
| 2018 | 3 | -1.66% | 650,321.57 | 249.55 |
| 2018 | 4 | 1.96% | 663,078.42 | 250.55 |
| 2018 | 5 | 2.11% | 677,089.06 | 251.59 |
| 2018 | 6 | 1.58% | 687,792.09 | 251.99 |
| 2018 | 7 | 2.45% | 704,648.54 | 252.01 |
| 2018 | 8 | 1.68% | 716,484.85 | 252.15 |
| 2018 | 9 | -3.85% | 688,907.45 | 252.44 |
| 2018 | 10 | -2.08% | 674,604.99 | 252.89 |
| 2018 | 11 | -5.56% | 637,080.00 | 252.04 |
| 2018 | 12 | 1.74% | 648,137.39 | 251.23 |
| 2019 | 1 | 5.83% | 685,916.69 | 251.71 |
| 2019 | 2 | 1.95% | 699,278.50 | 252.78 |
| 2019 | 3 | 3.72% | 725,314.17 | 254.20 |
| 2019 | 4 | -1.53% | 714,203.89 | 255.55 |
| 2019 | 5 | 1.40% | 724,236.67 | 256.09 |
| 2019 | 6 | 3.83% | 751,955.70 | 256.14 |
| 2019 | 7 | -3.13% | 728,386.29 | 256.57 |
| 2019 | 8 | 3.09% | 750,858.66 | 256.56 |
| 2019 | 9 | 0.01% | 750,932.27 | 256.76 |
| 2019 | 10 | 4.43% | 784,226.29 | 257.35 |
| 2019 | 11 | 2.47% | 803,591.35 | 257.21 |
| 2019 | 12 | 3.35% | 830,482.71 | 256.97 |
| 2020 | 1 | 0.12% | 831,496.54 | 257.97 |
| 2020 | 2 | -18.92% | 674,196.44 | 258.68 |
| 2020 | 3 | 4.32% | 703,312.39 | 258.12 |
| 2020 | 4 | 5.89% | 744,718.96 | 256.39 |
| 2020 | 5 | 6.51% | 793,187.29 | 256.39 |
| 2020 | 6 | 3.48% | 820,761.93 | 257.80 |
| 2020 | 7 | 5.89% | 869,133.58 | 259.10 |
| 2020 | 8 | -0.63% | 863,684.09 | 259.92 |
| 2020 | 9 | 1.73% | 878,591.28 | 260.28 |
| 2020 | 10 | 3.95% | 913,331.81 | 260.39 |
| 2020 | 11 | 4.26% | 952,240.48 | 260.23 |
| 2020 | 12 | 2.80% | 978,858.45 | 260.47 |
Click to show 474 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 $10,000.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $10,000.00 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 $842,003.94, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $978,858.45).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1980 | 1 | 416.66 | 433.19 |
| 1980 | 2 | 416.66 | 773.52 |
| 1980 | 3 | 416.66 | 1,174.43 |
| 1980 | 4 | 416.66 | 1,669.25 |
| 1980 | 5 | 416.66 | 2,227.15 |
| 1980 | 6 | 416.66 | 2,773.40 |
| 1980 | 7 | 416.66 | 3,300.13 |
| 1980 | 8 | 416.66 | 3,820.49 |
| 1980 | 9 | 416.66 | 4,376.36 |
| 1980 | 10 | 416.66 | 5,012.58 |
| 1980 | 11 | 416.66 | 5,360.09 |
| 1980 | 12 | 416.66 | 5,775.72 |
| 1981 | 1 | 416.66 | 6,000.65 |
| 1981 | 2 | 416.66 | 6,681.51 |
| 1981 | 3 | 416.66 | 7,188.37 |
| 1981 | 4 | 416.66 | 7,480.40 |
| 1981 | 5 | 416.66 | 7,963.11 |
| 1981 | 6 | 416.66 | 8,209.14 |
| 1981 | 7 | 416.66 | 8,693.29 |
| 1981 | 8 | 416.66 | 8,351.85 |
| 1981 | 9 | 416.66 | 8,918.05 |
| 1981 | 10 | 416.66 | 9,616.93 |
| 1981 | 11 | 416.66 | 10,150.06 |
| 1981 | 12 | 416.82 | 10,057.38 |
| 1982 | 1 | - | 9,864.89 |
| 1982 | 2 | - | 9,594.14 |
| 1982 | 3 | - | 10,118.88 |
| 1982 | 4 | - | 10,176.52 |
| 1982 | 5 | - | 9,640.15 |
| 1982 | 6 | - | 9,663.66 |
| 1982 | 7 | - | 9,740.39 |
| 1982 | 8 | - | 10,918.62 |
| 1982 | 9 | - | 11,888.35 |
| 1982 | 10 | - | 12,423.31 |
| 1982 | 11 | - | 12,591.71 |
| 1982 | 12 | - | 13,086.03 |
| 1983 | 1 | - | 13,364.76 |
| 1983 | 2 | - | 13,881.39 |
| 1983 | 3 | - | 14,464.05 |
| 1983 | 4 | - | 15,103.94 |
| 1983 | 5 | - | 15,368.79 |
| 1983 | 6 | - | 15,477.62 |
| 1983 | 7 | - | 15,105.05 |
| 1983 | 8 | - | 15,605.60 |
| 1983 | 9 | - | 15,706.71 |
| 1983 | 10 | - | 15,527.43 |
| 1983 | 11 | - | 15,507.54 |
| 1983 | 12 | - | 15,751.93 |
| 1984 | 1 | - | 14,946.66 |
| 1984 | 2 | - | 15,012.78 |
| 1984 | 3 | - | 15,088.92 |
| 1984 | 4 | - | 15,050.81 |
| 1984 | 5 | - | 14,772.63 |
| 1984 | 6 | - | 14,638.43 |
| 1984 | 7 | - | 15,986.12 |
| 1984 | 8 | - | 16,211.04 |
| 1984 | 9 | - | 16,144.19 |
| 1984 | 10 | - | 16,351.79 |
| 1984 | 11 | - | 16,236.09 |
| 1984 | 12 | - | 16,998.79 |
| 1985 | 1 | - | 17,982.57 |
| 1985 | 2 | - | 17,896.56 |
| 1985 | 3 | - | 18,079.94 |
| 1985 | 4 | - | 18,574.55 |
| 1985 | 5 | - | 19,040.95 |
| 1985 | 6 | - | 19,468.84 |
| 1985 | 7 | - | 19,109.58 |
| 1985 | 8 | - | 18,749.36 |
| 1985 | 9 | - | 19,029.77 |
| 1985 | 10 | - | 20,251.58 |
| 1985 | 11 | - | 21,323.80 |
| 1985 | 12 | - | 21,484.10 |
| 1986 | 1 | - | 22,708.10 |
| 1986 | 2 | - | 24,112.09 |
| 1986 | 3 | - | 24,773.11 |
| 1986 | 4 | - | 24,894.95 |
| 1986 | 5 | - | 25,674.97 |
| 1986 | 6 | - | 25,211.82 |
| 1986 | 7 | - | 25,786.86 |
| 1986 | 8 | - | 25,153.47 |
| 1986 | 9 | - | 25,130.87 |
| 1986 | 10 | - | 26,018.73 |
| 1986 | 11 | - | 26,463.37 |
| 1986 | 12 | - | 28,229.37 |
| 1987 | 1 | - | 30,053.52 |
| 1987 | 2 | - | 31,368.78 |
| 1987 | 3 | - | 31,100.14 |
| 1987 | 4 | - | 31,153.89 |
| 1987 | 5 | - | 32,555.33 |
| 1987 | 6 | - | 33,571.74 |
| 1987 | 7 | - | 35,738.46 |
| 1987 | 8 | - | 34,655.43 |
| 1987 | 9 | - | 30,547.42 |
| 1987 | 10 | - | 26,789.04 |
| 1987 | 11 | - | 26,431.49 |
| 1987 | 12 | - | 27,553.92 |
| 1988 | 1 | - | 28,471.07 |
| 1988 | 2 | - | 29,391.27 |
| 1988 | 3 | - | 29,130.85 |
| 1988 | 4 | - | 28,493.39 |
| 1988 | 5 | - | 30,202.48 |
| 1988 | 6 | - | 30,109.79 |
| 1988 | 7 | - | 29,592.35 |
| 1988 | 8 | - | 30,162.65 |
| 1988 | 9 | - | 31,309.32 |
| 1988 | 10 | - | 30,676.79 |
| 1988 | 11 | - | 31,390.32 |
| 1988 | 12 | - | 32,492.95 |
| 1989 | 1 | - | 33,565.17 |
| 1989 | 2 | - | 33,510.91 |
| 1989 | 3 | - | 34,705.51 |
| 1989 | 4 | - | 36,133.75 |
| 1989 | 5 | - | 37,359.63 |
| 1989 | 6 | - | 38,405.76 |
| 1989 | 7 | - | 40,207.28 |
| 1989 | 8 | - | 40,390.44 |
| 1989 | 9 | - | 40,506.06 |
| 1989 | 10 | - | 39,771.46 |
| 1989 | 11 | - | 40,859.89 |
| 1989 | 12 | - | 39,956.39 |
| 1990 | 1 | - | 38,946.61 |
| 1990 | 2 | - | 40,000.96 |
| 1990 | 3 | - | 40,079.36 |
| 1990 | 4 | - | 41,622.79 |
| 1990 | 5 | - | 42,942.21 |
| 1990 | 6 | - | 43,015.09 |
| 1990 | 7 | - | 39,633.58 |
| 1990 | 8 | - | 37,913.06 |
| 1990 | 9 | - | 37,035.08 |
| 1990 | 10 | - | 38,140.14 |
| 1990 | 11 | - | 39,889.48 |
| 1990 | 12 | - | 39,616.17 |
| 1991 | 1 | - | 44,214.33 |
| 1991 | 2 | - | 45,560.49 |
| 1991 | 3 | - | 46,589.62 |
| 1991 | 4 | - | 46,506.28 |
| 1991 | 5 | - | 46,667.66 |
| 1991 | 6 | - | 47,031.90 |
| 1991 | 7 | - | 48,291.85 |
| 1991 | 8 | - | 48,145.48 |
| 1991 | 9 | - | 48,232.93 |
| 1991 | 10 | - | 48,240.55 |
| 1991 | 11 | - | 48,691.67 |
| 1991 | 12 | - | 52,274.41 |
| 1992 | 1 | - | 51,960.32 |
| 1992 | 2 | - | 51,434.29 |
| 1992 | 3 | - | 51,570.23 |
| 1992 | 4 | - | 52,636.88 |
| 1992 | 5 | - | 51,937.28 |
| 1992 | 6 | - | 52,930.39 |
| 1992 | 7 | - | 53,428.84 |
| 1992 | 8 | - | 53,630.90 |
| 1992 | 9 | - | 52,996.96 |
| 1992 | 10 | - | 54,458.03 |
| 1992 | 11 | - | 56,239.46 |
| 1992 | 12 | - | 56,319.82 |
| 1993 | 1 | - | 57,290.92 |
| 1993 | 2 | - | 58,522.76 |
| 1993 | 3 | - | 57,737.53 |
| 1993 | 4 | - | 58,155.97 |
| 1993 | 5 | - | 58,659.13 |
| 1993 | 6 | - | 58,694.91 |
| 1993 | 7 | - | 59,729.39 |
| 1993 | 8 | - | 60,538.70 |
| 1993 | 9 | - | 61,290.54 |
| 1993 | 10 | - | 61,295.16 |
| 1993 | 11 | - | 61,838.96 |
| 1993 | 12 | - | 62,912.41 |
| 1994 | 1 | - | 62,864.79 |
| 1994 | 2 | - | 61,969.71 |
| 1994 | 3 | - | 59,895.97 |
| 1994 | 4 | - | 60,529.81 |
| 1994 | 5 | - | 61,200.54 |
| 1994 | 6 | - | 60,882.98 |
| 1994 | 7 | - | 62,759.44 |
| 1994 | 8 | - | 63,272.48 |
| 1994 | 9 | - | 62,991.55 |
| 1994 | 10 | - | 62,758.55 |
| 1994 | 11 | - | 62,114.83 |
| 1994 | 12 | - | 63,637.37 |
| 1995 | 1 | - | 66,067.75 |
| 1995 | 2 | - | 67,757.87 |
| 1995 | 3 | - | 69,936.66 |
| 1995 | 4 | - | 72,277.97 |
| 1995 | 5 | - | 74,575.27 |
| 1995 | 6 | - | 77,220.81 |
| 1995 | 7 | - | 77,617.05 |
| 1995 | 8 | - | 80,502.59 |
| 1995 | 9 | - | 81,237.24 |
| 1995 | 10 | - | 83,153.12 |
| 1995 | 11 | - | 85,971.30 |
| 1995 | 12 | - | 86,111.07 |
| 1996 | 1 | - | 91,195.40 |
| 1996 | 2 | - | 91,012.38 |
| 1996 | 3 | - | 91,191.71 |
| 1996 | 4 | - | 93,339.12 |
| 1996 | 5 | - | 94,532.54 |
| 1996 | 6 | - | 91,246.06 |
| 1996 | 7 | - | 94,052.56 |
| 1996 | 8 | - | 95,955.93 |
| 1996 | 9 | - | 99,908.83 |
| 1996 | 10 | - | 104,956.31 |
| 1996 | 11 | - | 106,213.92 |
| 1996 | 12 | - | 109,673.88 |
| 1997 | 1 | - | 114,456.94 |
| 1997 | 2 | - | 113,743.09 |
| 1997 | 3 | - | 109,869.86 |
| 1997 | 4 | - | 119,997.48 |
| 1997 | 5 | - | 126,401.53 |
| 1997 | 6 | - | 133,651.83 |
| 1997 | 7 | - | 134,116.65 |
| 1997 | 8 | - | 135,715.34 |
| 1997 | 9 | - | 137,948.36 |
| 1997 | 10 | - | 136,359.14 |
| 1997 | 11 | - | 139,951.68 |
| 1997 | 12 | - | 140,283.49 |
| 1998 | 1 | - | 149,264.66 |
| 1998 | 2 | - | 157,194.90 |
| 1998 | 3 | - | 162,548.45 |
| 1998 | 4 | - | 162,187.82 |
| 1998 | 5 | - | 162,376.70 |
| 1998 | 6 | - | 169,631.15 |
| 1998 | 7 | - | 157,806.15 |
| 1998 | 8 | - | 150,076.09 |
| 1998 | 9 | - | 152,013.36 |
| 1998 | 10 | - | 168,695.89 |
| 1998 | 11 | - | 175,619.35 |
| 1998 | 12 | - | 184,484.06 |
| 1999 | 1 | - | 184,360.99 |
| 1999 | 2 | - | 189,750.81 |
| 1999 | 3 | - | 197,815.26 |
| 1999 | 4 | - | 197,619.75 |
| 1999 | 5 | - | 196,410.78 |
| 1999 | 6 | - | 205,293.24 |
| 1999 | 7 | - | 197,544.68 |
| 1999 | 8 | - | 196,363.33 |
| 1999 | 9 | - | 193,864.66 |
| 1999 | 10 | - | 207,640.59 |
| 1999 | 11 | - | 213,472.65 |
| 1999 | 12 | - | 213,218.76 |
| 2000 | 1 | - | 207,935.04 |
| 2000 | 2 | - | 216,129.66 |
| 2000 | 3 | - | 219,208.78 |
| 2000 | 4 | - | 212,985.90 |
| 2000 | 5 | - | 219,723.67 |
| 2000 | 6 | - | 221,592.07 |
| 2000 | 7 | - | 223,674.39 |
| 2000 | 8 | - | 221,259.49 |
| 2000 | 9 | - | 209,722.51 |
| 2000 | 10 | - | 208,102.27 |
| 2000 | 11 | - | 201,193.12 |
| 2000 | 12 | - | 202,108.57 |
| 2001 | 1 | - | 197,791.01 |
| 2001 | 2 | - | 179,831.78 |
| 2001 | 3 | - | 180,638.67 |
| 2001 | 4 | - | 193,065.41 |
| 2001 | 5 | - | 188,453.74 |
| 2001 | 6 | - | 183,440.45 |
| 2001 | 7 | - | 179,687.55 |
| 2001 | 8 | - | 159,477.51 |
| 2001 | 9 | - | 164,555.32 |
| 2001 | 10 | - | 172,870.54 |
| 2001 | 11 | - | 175,404.91 |
| 2001 | 12 | - | 174,882.75 |
| 2002 | 1 | - | 169,019.33 |
| 2002 | 2 | - | 177,377.80 |
| 2002 | 3 | - | 171,143.98 |
| 2002 | 4 | - | 166,317.08 |
| 2002 | 5 | - | 156,469.51 |
| 2002 | 6 | - | 139,635.74 |
| 2002 | 7 | - | 141,225.90 |
| 2002 | 8 | - | 134,506.75 |
| 2002 | 9 | - | 132,667.99 |
| 2002 | 10 | - | 141,458.01 |
| 2002 | 11 | - | 139,993.83 |
| 2002 | 12 | - | 139,682.32 |
| 2003 | 1 | - | 130,721.93 |
| 2003 | 2 | - | 132,431.64 |
| 2003 | 3 | - | 139,431.79 |
| 2003 | 4 | - | 146,838.70 |
| 2003 | 5 | - | 155,214.65 |
| 2003 | 6 | - | 156,139.58 |
| 2003 | 7 | - | 155,879.88 |
| 2003 | 8 | - | 160,807.52 |
| 2003 | 9 | - | 164,068.43 |
| 2003 | 10 | - | 166,054.62 |
| 2003 | 11 | - | 171,142.21 |
| 2003 | 12 | - | 179,588.02 |
| 2004 | 1 | - | 181,539.53 |
| 2004 | 2 | - | 178,698.08 |
| 2004 | 3 | - | 180,428.12 |
| 2004 | 4 | - | 175,801.49 |
| 2004 | 5 | - | 180,825.33 |
| 2004 | 6 | - | 176,777.05 |
| 2004 | 7 | - | 174,324.14 |
| 2004 | 8 | - | 179,174.93 |
| 2004 | 9 | - | 179,358.75 |
| 2004 | 10 | - | 187,921.15 |
| 2004 | 11 | - | 193,046.60 |
| 2004 | 12 | - | 190,441.98 |
| 2005 | 1 | - | 193,643.70 |
| 2005 | 2 | - | 193,148.77 |
| 2005 | 3 | - | 188,495.97 |
| 2005 | 4 | - | 191,014.04 |
| 2005 | 5 | - | 195,179.47 |
| 2005 | 6 | - | 198,707.91 |
| 2005 | 7 | - | 199,323.94 |
| 2005 | 8 | - | 199,881.43 |
| 2005 | 9 | - | 194,636.10 |
| 2005 | 10 | - | 202,346.70 |
| 2005 | 11 | - | 206,685.27 |
| 2005 | 12 | - | 209,716.87 |
| 2006 | 1 | - | 209,681.98 |
| 2006 | 2 | - | 212,798.14 |
| 2006 | 3 | - | 214,496.97 |
| 2006 | 4 | - | 212,809.66 |
| 2006 | 5 | - | 207,051.47 |
| 2006 | 6 | - | 208,542.33 |
| 2006 | 7 | - | 213,321.62 |
| 2006 | 8 | - | 218,721.16 |
| 2006 | 9 | - | 226,629.92 |
| 2006 | 10 | - | 231,166.25 |
| 2006 | 11 | - | 236,132.31 |
| 2006 | 12 | - | 237,768.30 |
| 2007 | 1 | - | 241,563.19 |
| 2007 | 2 | - | 235,587.18 |
| 2007 | 3 | - | 245,435.34 |
| 2007 | 4 | - | 253,759.90 |
| 2007 | 5 | - | 254,635.12 |
| 2007 | 6 | - | 256,098.31 |
| 2007 | 7 | - | 245,339.34 |
| 2007 | 8 | - | 252,882.89 |
| 2007 | 9 | - | 260,448.22 |
| 2007 | 10 | - | 247,930.27 |
| 2007 | 11 | - | 251,000.20 |
| 2007 | 12 | - | 234,345.84 |
| 2008 | 1 | - | 230,680.75 |
| 2008 | 2 | - | 224,621.61 |
| 2008 | 3 | - | 234,154.11 |
| 2008 | 4 | - | 240,154.55 |
| 2008 | 5 | - | 229,956.19 |
| 2008 | 6 | - | 215,978.37 |
| 2008 | 7 | - | 220,536.67 |
| 2008 | 8 | - | 209,846.07 |
| 2008 | 9 | - | 167,470.63 |
| 2008 | 10 | - | 153,059.20 |
| 2008 | 11 | - | 152,521.63 |
| 2008 | 12 | - | 150,850.66 |
| 2009 | 1 | - | 140,739.89 |
| 2009 | 2 | - | 132,735.40 |
| 2009 | 3 | - | 149,090.72 |
| 2009 | 4 | - | 159,019.90 |
| 2009 | 5 | - | 163,581.96 |
| 2009 | 6 | - | 165,671.95 |
| 2009 | 7 | - | 179,125.75 |
| 2009 | 8 | - | 185,664.45 |
| 2009 | 9 | - | 190,126.17 |
| 2009 | 10 | - | 194,108.03 |
| 2009 | 11 | - | 198,428.60 |
| 2009 | 12 | - | 201,121.21 |
| 2010 | 1 | - | 195,291.77 |
| 2010 | 2 | - | 206,898.02 |
| 2010 | 3 | - | 215,355.87 |
| 2010 | 4 | - | 202,687.79 |
| 2010 | 5 | - | 195,505.41 |
| 2010 | 6 | - | 195,194.42 |
| 2010 | 7 | - | 196,880.14 |
| 2010 | 8 | - | 203,517.27 |
| 2010 | 9 | - | 212,833.15 |
| 2010 | 10 | - | 218,134.64 |
| 2010 | 11 | - | 226,235.58 |
| 2010 | 12 | - | 234,068.30 |
| 2011 | 1 | - | 241,443.47 |
| 2011 | 2 | - | 238,757.51 |
| 2011 | 3 | - | 244,060.27 |
| 2011 | 4 | - | 245,669.20 |
| 2011 | 5 | - | 236,671.32 |
| 2011 | 6 | - | 244,012.24 |
| 2011 | 7 | - | 218,633.39 |
| 2011 | 8 | - | 216,907.83 |
| 2011 | 9 | - | 223,456.08 |
| 2011 | 10 | - | 227,404.82 |
| 2011 | 11 | - | 230,940.40 |
| 2011 | 12 | - | 241,985.26 |
| 2012 | 1 | - | 252,058.16 |
| 2012 | 2 | - | 259,327.10 |
| 2012 | 3 | - | 259,228.01 |
| 2012 | 4 | - | 251,215.40 |
| 2012 | 5 | - | 248,320.36 |
| 2012 | 6 | - | 255,574.02 |
| 2012 | 7 | - | 264,232.10 |
| 2012 | 8 | - | 272,214.99 |
| 2012 | 9 | - | 271,623.92 |
| 2012 | 10 | - | 263,916.61 |
| 2012 | 11 | - | 269,658.20 |
| 2012 | 12 | - | 281,169.27 |
| 2013 | 1 | - | 287,729.01 |
| 2013 | 2 | - | 295,562.30 |
| 2013 | 3 | - | 299,859.16 |
| 2013 | 4 | - | 313,575.53 |
| 2013 | 5 | - | 310,070.46 |
| 2013 | 6 | - | 320,161.63 |
| 2013 | 7 | - | 320,970.13 |
| 2013 | 8 | - | 324,797.59 |
| 2013 | 9 | - | 331,675.34 |
| 2013 | 10 | - | 344,477.99 |
| 2013 | 11 | - | 349,719.78 |
| 2013 | 12 | - | 353,104.40 |
| 2014 | 1 | - | 352,645.23 |
| 2014 | 2 | - | 362,245.19 |
| 2014 | 3 | - | 362,975.92 |
| 2014 | 4 | - | 368,536.84 |
| 2014 | 5 | - | 380,316.45 |
| 2014 | 6 | - | 386,005.31 |
| 2014 | 7 | - | 384,357.25 |
| 2014 | 8 | - | 391,191.25 |
| 2014 | 9 | - | 380,838.05 |
| 2014 | 10 | - | 402,567.35 |
| 2014 | 11 | - | 405,119.17 |
| 2014 | 12 | - | 400,622.16 |
| 2015 | 1 | - | 411,949.35 |
| 2015 | 2 | - | 412,177.42 |
| 2015 | 3 | - | 415,798.02 |
| 2015 | 4 | - | 419,868.28 |
| 2015 | 5 | - | 418,039.76 |
| 2015 | 6 | - | 417,706.87 |
| 2015 | 7 | - | 407,580.00 |
| 2015 | 8 | - | 389,209.98 |
| 2015 | 9 | - | 406,012.64 |
| 2015 | 10 | - | 417,918.84 |
| 2015 | 11 | - | 413,309.32 |
| 2015 | 12 | - | 386,776.42 |
| 2016 | 1 | - | 384,649.50 |
| 2016 | 2 | - | 409,123.70 |
| 2016 | 3 | - | 420,707.06 |
| 2016 | 4 | - | 419,426.57 |
| 2016 | 5 | - | 423,899.72 |
| 2016 | 6 | - | 437,877.55 |
| 2016 | 7 | - | 443,128.83 |
| 2016 | 8 | - | 441,184.95 |
| 2016 | 9 | - | 438,952.64 |
| 2016 | 10 | - | 444,225.16 |
| 2016 | 11 | - | 461,754.13 |
| 2016 | 12 | - | 468,392.47 |
| 2017 | 1 | - | 480,460.34 |
| 2017 | 2 | - | 488,864.83 |
| 2017 | 3 | - | 488,111.96 |
| 2017 | 4 | - | 496,372.63 |
| 2017 | 5 | - | 505,190.33 |
| 2017 | 6 | - | 510,181.03 |
| 2017 | 7 | - | 511,445.28 |
| 2017 | 8 | - | 519,900.82 |
| 2017 | 9 | - | 534,119.06 |
| 2017 | 10 | - | 542,609.25 |
| 2017 | 11 | - | 558,255.32 |
| 2017 | 12 | - | 585,397.12 |
| 2018 | 1 | - | 568,498.54 |
| 2018 | 2 | - | 568,865.67 |
| 2018 | 3 | - | 559,399.91 |
| 2018 | 4 | - | 570,373.21 |
| 2018 | 5 | - | 582,425.03 |
| 2018 | 6 | - | 591,631.66 |
| 2018 | 7 | - | 606,131.40 |
| 2018 | 8 | - | 616,312.88 |
| 2018 | 9 | - | 592,591.08 |
| 2018 | 10 | - | 580,288.25 |
| 2018 | 11 | - | 548,009.64 |
| 2018 | 12 | - | 557,521.10 |
| 2019 | 1 | - | 590,018.46 |
| 2019 | 2 | - | 601,512.15 |
| 2019 | 3 | - | 623,907.77 |
| 2019 | 4 | - | 614,350.82 |
| 2019 | 5 | - | 622,980.91 |
| 2019 | 6 | - | 646,824.53 |
| 2019 | 7 | - | 626,550.37 |
| 2019 | 8 | - | 645,880.88 |
| 2019 | 9 | - | 645,944.19 |
| 2019 | 10 | - | 674,583.37 |
| 2019 | 11 | - | 691,240.99 |
| 2019 | 12 | - | 714,372.66 |
| 2020 | 1 | - | 715,244.74 |
| 2020 | 2 | - | 579,936.82 |
| 2020 | 3 | - | 604,982.06 |
| 2020 | 4 | - | 640,599.56 |
| 2020 | 5 | - | 682,291.52 |
| 2020 | 6 | - | 706,010.94 |
| 2020 | 7 | - | 747,619.73 |
| 2020 | 8 | - | 742,932.14 |
| 2020 | 9 | - | 755,755.16 |
| 2020 | 10 | - | 785,638.60 |
| 2020 | 11 | - | 819,107.43 |
| 2020 | 12 | - | 842,003.94 |
Click to show 474 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 | $3,278.20 |
| Change in price | +2,856.00% +8.83% / yr |
| Change incl. dividends | +9,688.58% +11.83% / yr |
| Change incl. dividends, inflation-adjusted | +3,016.47% +8.75% / yr |
| Final amount, nominal ($10000 base) | $978,858.45 |
| Final amount, inflation-adjusted ($10000 base) | $311,647.22 |