Stock market returns between 1980 and 2020
If you invested $100000 in the S&P 500 at the beginning of 1980, you would have about $9,788,584.54 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 $8,420,046.44.
The graph below shows the performance of $100000 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 $100000 is $9,688,584.54, or 9,688.58%. This means by 2020 you would have $9,788,584.54 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 $9,788,584.54 nominal end value of the original $100000 investment would have a real return of roughly $3,016,472.21 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 $100000 investment, including gains and losses over the 492-month period between 1980 and 2020.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1980 | 1 | 4.40% | 104,395.85 | 77.80 |
| 1980 | 2 | -8.78% | 95,232.17 | 78.90 |
| 1980 | 3 | -1.16% | 94,125.52 | 80.10 |
| 1980 | 4 | 5.04% | 98,865.81 | 81.00 |
| 1980 | 5 | 6.86% | 105,650.66 | 81.80 |
| 1980 | 6 | 4.97% | 110,900.93 | 82.70 |
| 1980 | 7 | 3.50% | 114,787.65 | 82.70 |
| 1980 | 8 | 2.84% | 118,042.81 | 83.30 |
| 1980 | 9 | 3.32% | 121,967.46 | 84.00 |
| 1980 | 10 | 4.61% | 127,595.89 | 84.80 |
| 1980 | 11 | -1.24% | 126,007.60 | 85.50 |
| 1980 | 12 | 0.01% | 126,020.18 | 86.30 |
| 1981 | 1 | -3.07% | 122,151.14 | 87.00 |
| 1981 | 2 | 4.14% | 127,212.23 | 87.90 |
| 1981 | 3 | 1.29% | 128,858.10 | 88.50 |
| 1981 | 4 | -1.62% | 126,774.12 | 89.10 |
| 1981 | 5 | 0.86% | 127,861.32 | 89.80 |
| 1981 | 6 | -2.02% | 125,283.31 | 90.60 |
| 1981 | 7 | 0.80% | 126,288.79 | 91.60 |
| 1981 | 8 | -8.30% | 115,803.43 | 92.30 |
| 1981 | 9 | 1.73% | 117,803.64 | 93.20 |
| 1981 | 10 | 3.04% | 121,389.27 | 93.40 |
| 1981 | 11 | 1.18% | 122,820.90 | 93.70 |
| 1981 | 12 | -4.80% | 116,920.43 | 94.00 |
| 1982 | 1 | -1.91% | 114,682.70 | 94.30 |
| 1982 | 2 | -2.74% | 111,535.18 | 94.60 |
| 1982 | 3 | 5.47% | 117,635.39 | 94.50 |
| 1982 | 4 | 0.57% | 118,305.50 | 94.90 |
| 1982 | 5 | -5.27% | 112,070.07 | 95.80 |
| 1982 | 6 | 0.24% | 112,343.35 | 97.00 |
| 1982 | 7 | 0.79% | 113,235.33 | 97.50 |
| 1982 | 8 | 12.10% | 126,932.70 | 97.70 |
| 1982 | 9 | 8.88% | 138,206.10 | 97.90 |
| 1982 | 10 | 4.50% | 144,425.26 | 98.20 |
| 1982 | 11 | 1.36% | 146,382.94 | 98.00 |
| 1982 | 12 | 3.93% | 152,129.57 | 97.60 |
| 1983 | 1 | 2.13% | 155,369.95 | 97.80 |
| 1983 | 2 | 3.87% | 161,375.96 | 97.90 |
| 1983 | 3 | 4.20% | 168,149.53 | 97.90 |
| 1983 | 4 | 4.42% | 175,588.49 | 98.60 |
| 1983 | 5 | 1.75% | 178,667.44 | 99.20 |
| 1983 | 6 | 0.71% | 179,932.64 | 99.50 |
| 1983 | 7 | -2.41% | 175,601.33 | 99.90 |
| 1983 | 8 | 3.31% | 181,420.47 | 100.20 |
| 1983 | 9 | 0.65% | 182,595.94 | 100.70 |
| 1983 | 10 | -1.14% | 180,511.75 | 101.00 |
| 1983 | 11 | -0.13% | 180,280.46 | 101.20 |
| 1983 | 12 | 1.58% | 183,121.56 | 101.30 |
| 1984 | 1 | -5.11% | 173,760.06 | 101.90 |
| 1984 | 2 | 0.44% | 174,528.70 | 102.40 |
| 1984 | 3 | 0.51% | 175,413.91 | 102.60 |
| 1984 | 4 | -0.25% | 174,970.87 | 103.10 |
| 1984 | 5 | -1.85% | 171,736.87 | 103.40 |
| 1984 | 6 | -0.91% | 170,176.73 | 103.70 |
| 1984 | 7 | 9.21% | 185,844.15 | 104.10 |
| 1984 | 8 | 1.41% | 188,458.92 | 104.50 |
| 1984 | 9 | -0.41% | 187,681.71 | 105.00 |
| 1984 | 10 | 1.29% | 190,095.12 | 105.30 |
| 1984 | 11 | -0.71% | 188,750.09 | 105.30 |
| 1984 | 12 | 4.70% | 197,616.75 | 105.30 |
| 1985 | 1 | 5.79% | 209,053.54 | 105.50 |
| 1985 | 2 | -0.48% | 208,053.60 | 106.00 |
| 1985 | 3 | 1.02% | 210,185.55 | 106.40 |
| 1985 | 4 | 2.74% | 215,935.46 | 106.90 |
| 1985 | 5 | 2.51% | 221,357.53 | 107.30 |
| 1985 | 6 | 2.25% | 226,331.92 | 107.60 |
| 1985 | 7 | -1.85% | 222,155.39 | 107.80 |
| 1985 | 8 | -1.88% | 217,967.78 | 108.00 |
| 1985 | 9 | 1.50% | 221,227.63 | 108.30 |
| 1985 | 10 | 6.42% | 235,431.58 | 108.70 |
| 1985 | 11 | 5.29% | 247,896.54 | 109.00 |
| 1985 | 12 | 0.75% | 249,760.05 | 109.30 |
| 1986 | 1 | 5.70% | 263,989.49 | 109.60 |
| 1986 | 2 | 6.18% | 280,311.36 | 109.30 |
| 1986 | 3 | 2.74% | 287,995.89 | 108.80 |
| 1986 | 4 | 0.49% | 289,412.34 | 108.60 |
| 1986 | 5 | 3.13% | 298,480.32 | 108.90 |
| 1986 | 6 | -1.80% | 293,096.00 | 109.50 |
| 1986 | 7 | 2.28% | 299,781.09 | 109.50 |
| 1986 | 8 | -2.46% | 292,417.76 | 109.70 |
| 1986 | 9 | -0.09% | 292,154.95 | 110.20 |
| 1986 | 10 | 3.53% | 302,476.64 | 110.30 |
| 1986 | 11 | 1.71% | 307,645.78 | 110.40 |
| 1986 | 12 | 6.67% | 328,176.13 | 110.50 |
| 1987 | 1 | 6.46% | 349,382.47 | 111.20 |
| 1987 | 2 | 4.38% | 364,672.88 | 111.60 |
| 1987 | 3 | -0.86% | 361,549.78 | 112.10 |
| 1987 | 4 | 0.17% | 362,174.65 | 112.70 |
| 1987 | 5 | 4.50% | 378,466.87 | 113.10 |
| 1987 | 6 | 3.12% | 390,282.97 | 113.50 |
| 1987 | 7 | 6.45% | 415,471.88 | 113.80 |
| 1987 | 8 | -3.03% | 402,881.31 | 114.40 |
| 1987 | 9 | -11.85% | 355,124.22 | 115.00 |
| 1987 | 10 | -12.30% | 311,431.82 | 115.30 |
| 1987 | 11 | -1.33% | 307,275.16 | 115.40 |
| 1987 | 12 | 4.25% | 320,323.73 | 115.40 |
| 1988 | 1 | 3.33% | 330,985.91 | 115.70 |
| 1988 | 2 | 3.23% | 341,683.57 | 116.00 |
| 1988 | 3 | -0.89% | 338,656.17 | 116.50 |
| 1988 | 4 | -2.19% | 331,245.47 | 117.10 |
| 1988 | 5 | 6.00% | 351,114.24 | 117.50 |
| 1988 | 6 | -0.31% | 350,036.59 | 118.00 |
| 1988 | 7 | -1.72% | 344,021.27 | 118.50 |
| 1988 | 8 | 1.93% | 350,651.14 | 119.00 |
| 1988 | 9 | 3.80% | 363,981.55 | 119.80 |
| 1988 | 10 | -2.02% | 356,628.22 | 120.20 |
| 1988 | 11 | 2.33% | 364,923.23 | 120.30 |
| 1988 | 12 | 3.51% | 377,741.73 | 120.50 |
| 1989 | 1 | 3.30% | 390,206.65 | 121.10 |
| 1989 | 2 | -0.16% | 389,575.85 | 121.60 |
| 1989 | 3 | 3.56% | 403,463.44 | 122.30 |
| 1989 | 4 | 4.12% | 420,067.18 | 123.10 |
| 1989 | 5 | 3.39% | 434,318.48 | 123.80 |
| 1989 | 6 | 2.80% | 446,480.15 | 124.10 |
| 1989 | 7 | 4.69% | 467,423.43 | 124.40 |
| 1989 | 8 | 0.46% | 469,552.72 | 124.60 |
| 1989 | 9 | 0.29% | 470,896.84 | 125.00 |
| 1989 | 10 | -1.81% | 462,356.89 | 125.60 |
| 1989 | 11 | 2.74% | 475,010.24 | 125.90 |
| 1989 | 12 | -2.21% | 464,506.69 | 126.10 |
| 1990 | 1 | -2.53% | 452,767.75 | 127.40 |
| 1990 | 2 | 2.71% | 465,024.93 | 128.00 |
| 1990 | 3 | 0.20% | 465,936.32 | 128.70 |
| 1990 | 4 | 3.85% | 483,879.17 | 128.90 |
| 1990 | 5 | 3.17% | 499,217.94 | 129.20 |
| 1990 | 6 | 0.17% | 500,065.23 | 129.90 |
| 1990 | 7 | -7.86% | 460,753.96 | 130.40 |
| 1990 | 8 | -4.34% | 440,752.36 | 131.60 |
| 1990 | 9 | -2.32% | 430,545.55 | 132.70 |
| 1990 | 10 | 2.98% | 443,392.23 | 133.50 |
| 1990 | 11 | 4.59% | 463,728.88 | 133.80 |
| 1990 | 12 | -0.69% | 460,551.55 | 133.80 |
| 1991 | 1 | 11.61% | 514,006.73 | 134.60 |
| 1991 | 2 | 3.04% | 529,656.28 | 134.80 |
| 1991 | 3 | 2.26% | 541,620.31 | 135.00 |
| 1991 | 4 | -0.18% | 540,651.47 | 135.20 |
| 1991 | 5 | 0.35% | 542,527.58 | 135.60 |
| 1991 | 6 | 0.78% | 546,761.94 | 136.00 |
| 1991 | 7 | 2.68% | 561,409.32 | 136.20 |
| 1991 | 8 | -0.30% | 559,707.69 | 136.60 |
| 1991 | 9 | 0.18% | 560,724.37 | 137.20 |
| 1991 | 10 | 0.02% | 560,812.94 | 137.40 |
| 1991 | 11 | 0.94% | 566,057.33 | 137.80 |
| 1991 | 12 | 7.36% | 607,707.97 | 137.90 |
| 1992 | 1 | -0.60% | 604,056.58 | 138.10 |
| 1992 | 2 | -1.01% | 597,941.25 | 138.60 |
| 1992 | 3 | 0.26% | 599,521.63 | 139.30 |
| 1992 | 4 | 2.07% | 611,921.83 | 139.50 |
| 1992 | 5 | -1.33% | 603,788.64 | 139.70 |
| 1992 | 6 | 1.91% | 615,333.89 | 140.20 |
| 1992 | 7 | 0.94% | 621,128.61 | 140.50 |
| 1992 | 8 | 0.38% | 623,477.64 | 140.90 |
| 1992 | 9 | -1.18% | 616,107.79 | 141.30 |
| 1992 | 10 | 2.76% | 633,093.28 | 141.80 |
| 1992 | 11 | 3.27% | 653,803.03 | 142.00 |
| 1992 | 12 | 0.14% | 654,737.27 | 141.90 |
| 1993 | 1 | 1.72% | 666,026.56 | 142.60 |
| 1993 | 2 | 2.15% | 680,347.14 | 143.10 |
| 1993 | 3 | -1.34% | 671,218.62 | 143.60 |
| 1993 | 4 | 0.72% | 676,083.10 | 144.00 |
| 1993 | 5 | 0.87% | 681,932.46 | 144.20 |
| 1993 | 6 | 0.06% | 682,348.46 | 144.40 |
| 1993 | 7 | 1.76% | 694,374.62 | 144.40 |
| 1993 | 8 | 1.35% | 703,783.20 | 144.80 |
| 1993 | 9 | 1.24% | 712,523.53 | 145.10 |
| 1993 | 10 | 0.01% | 712,577.29 | 145.70 |
| 1993 | 11 | 0.89% | 718,899.13 | 145.80 |
| 1993 | 12 | 1.74% | 731,378.36 | 145.80 |
| 1994 | 1 | -0.08% | 730,824.70 | 146.20 |
| 1994 | 2 | -1.42% | 720,419.08 | 146.70 |
| 1994 | 3 | -3.35% | 696,311.14 | 147.20 |
| 1994 | 4 | 1.06% | 703,679.80 | 147.40 |
| 1994 | 5 | 1.11% | 711,477.22 | 147.50 |
| 1994 | 6 | -0.52% | 707,785.55 | 148.00 |
| 1994 | 7 | 3.08% | 729,600.05 | 148.40 |
| 1994 | 8 | 0.82% | 735,564.27 | 149.00 |
| 1994 | 9 | -0.44% | 732,298.32 | 149.40 |
| 1994 | 10 | -0.37% | 729,589.67 | 149.50 |
| 1994 | 11 | -1.03% | 722,106.22 | 149.70 |
| 1994 | 12 | 2.45% | 739,806.30 | 149.70 |
| 1995 | 1 | 3.82% | 768,060.20 | 150.30 |
| 1995 | 2 | 2.56% | 787,708.48 | 150.90 |
| 1995 | 3 | 3.22% | 813,037.67 | 151.40 |
| 1995 | 4 | 3.35% | 840,256.22 | 151.90 |
| 1995 | 5 | 3.18% | 866,963.11 | 152.20 |
| 1995 | 6 | 3.55% | 897,718.45 | 152.50 |
| 1995 | 7 | 0.51% | 902,324.86 | 152.50 |
| 1995 | 8 | 3.72% | 935,870.27 | 152.90 |
| 1995 | 9 | 0.91% | 944,410.72 | 153.20 |
| 1995 | 10 | 2.36% | 966,683.56 | 153.70 |
| 1995 | 11 | 3.39% | 999,445.80 | 153.60 |
| 1995 | 12 | 0.16% | 1,001,070.70 | 153.50 |
| 1996 | 1 | 5.90% | 1,060,177.85 | 154.40 |
| 1996 | 2 | -0.20% | 1,058,050.10 | 154.90 |
| 1996 | 3 | 0.20% | 1,060,134.91 | 155.70 |
| 1996 | 4 | 2.35% | 1,085,099.24 | 156.30 |
| 1996 | 5 | 1.28% | 1,098,973.24 | 156.60 |
| 1996 | 6 | -3.48% | 1,060,766.73 | 156.70 |
| 1996 | 7 | 3.08% | 1,093,393.29 | 157.00 |
| 1996 | 8 | 2.02% | 1,115,520.58 | 157.30 |
| 1996 | 9 | 4.12% | 1,161,474.43 | 157.80 |
| 1996 | 10 | 5.05% | 1,220,153.07 | 158.30 |
| 1996 | 11 | 1.20% | 1,234,773.28 | 158.60 |
| 1996 | 12 | 3.26% | 1,274,996.51 | 158.60 |
| 1997 | 1 | 4.36% | 1,330,601.19 | 159.10 |
| 1997 | 2 | -0.62% | 1,322,302.43 | 159.60 |
| 1997 | 3 | -3.41% | 1,277,274.77 | 160.00 |
| 1997 | 4 | 9.22% | 1,395,011.80 | 160.20 |
| 1997 | 5 | 5.34% | 1,469,461.14 | 160.10 |
| 1997 | 6 | 5.74% | 1,553,748.33 | 160.30 |
| 1997 | 7 | 0.35% | 1,559,152.10 | 160.50 |
| 1997 | 8 | 1.19% | 1,577,737.31 | 160.80 |
| 1997 | 9 | 1.65% | 1,603,697.02 | 161.20 |
| 1997 | 10 | -1.15% | 1,585,221.74 | 161.60 |
| 1997 | 11 | 2.63% | 1,626,986.25 | 161.50 |
| 1997 | 12 | 0.24% | 1,630,843.64 | 161.30 |
| 1998 | 1 | 6.40% | 1,735,252.84 | 161.60 |
| 1998 | 2 | 5.31% | 1,827,444.61 | 161.90 |
| 1998 | 3 | 3.41% | 1,889,681.44 | 162.20 |
| 1998 | 4 | -0.22% | 1,885,489.04 | 162.50 |
| 1998 | 5 | 0.12% | 1,887,684.82 | 162.80 |
| 1998 | 6 | 4.47% | 1,972,020.28 | 163.00 |
| 1998 | 7 | -6.97% | 1,834,550.60 | 163.20 |
| 1998 | 8 | -4.90% | 1,744,686.06 | 163.40 |
| 1998 | 9 | 1.29% | 1,767,207.45 | 163.60 |
| 1998 | 10 | 10.97% | 1,961,147.59 | 164.00 |
| 1998 | 11 | 4.10% | 2,041,635.15 | 164.00 |
| 1998 | 12 | 5.05% | 2,144,690.50 | 163.90 |
| 1999 | 1 | -0.07% | 2,143,259.77 | 164.30 |
| 1999 | 2 | 2.92% | 2,205,918.19 | 164.50 |
| 1999 | 3 | 4.25% | 2,299,670.20 | 165.00 |
| 1999 | 4 | -0.10% | 2,297,397.39 | 166.20 |
| 1999 | 5 | -0.61% | 2,283,342.67 | 166.20 |
| 1999 | 6 | 4.52% | 2,386,604.27 | 166.20 |
| 1999 | 7 | -3.77% | 2,296,524.62 | 166.70 |
| 1999 | 8 | -0.60% | 2,282,791.02 | 167.10 |
| 1999 | 9 | -1.27% | 2,253,743.16 | 167.90 |
| 1999 | 10 | 7.11% | 2,413,893.01 | 168.20 |
| 1999 | 11 | 2.81% | 2,481,692.77 | 168.30 |
| 1999 | 12 | -0.12% | 2,478,741.23 | 168.30 |
| 2000 | 1 | -2.48% | 2,417,316.10 | 168.80 |
| 2000 | 2 | 3.94% | 2,512,581.41 | 169.80 |
| 2000 | 3 | 1.42% | 2,548,377.29 | 171.20 |
| 2000 | 4 | -2.84% | 2,476,034.11 | 171.30 |
| 2000 | 5 | 3.16% | 2,554,362.95 | 171.50 |
| 2000 | 6 | 0.85% | 2,576,083.79 | 172.40 |
| 2000 | 7 | 0.94% | 2,600,291.53 | 172.80 |
| 2000 | 8 | -1.08% | 2,572,217.47 | 172.80 |
| 2000 | 9 | -5.21% | 2,438,096.14 | 173.70 |
| 2000 | 10 | -0.77% | 2,419,260.28 | 174.00 |
| 2000 | 11 | -3.32% | 2,338,939.06 | 174.10 |
| 2000 | 12 | 0.46% | 2,349,581.41 | 174.00 |
| 2001 | 1 | -2.14% | 2,299,388.29 | 175.10 |
| 2001 | 2 | -9.08% | 2,090,606.07 | 175.80 |
| 2001 | 3 | 0.45% | 2,099,986.48 | 176.20 |
| 2001 | 4 | 6.88% | 2,244,451.55 | 176.90 |
| 2001 | 5 | -2.39% | 2,190,839.40 | 177.70 |
| 2001 | 6 | -2.66% | 2,132,558.10 | 178.00 |
| 2001 | 7 | -2.05% | 2,088,929.39 | 177.50 |
| 2001 | 8 | -11.25% | 1,853,980.71 | 177.50 |
| 2001 | 9 | 3.18% | 1,913,012.04 | 178.30 |
| 2001 | 10 | 5.05% | 2,009,679.34 | 177.70 |
| 2001 | 11 | 1.47% | 2,039,142.23 | 177.40 |
| 2001 | 12 | -0.30% | 2,033,071.92 | 176.70 |
| 2002 | 1 | -3.35% | 1,964,907.71 | 177.10 |
| 2002 | 2 | 4.95% | 2,062,077.72 | 177.80 |
| 2002 | 3 | -3.51% | 1,989,607.40 | 178.80 |
| 2002 | 4 | -2.82% | 1,933,493.08 | 179.80 |
| 2002 | 5 | -5.92% | 1,819,011.76 | 179.80 |
| 2002 | 6 | -10.76% | 1,623,313.39 | 179.90 |
| 2002 | 7 | 1.14% | 1,641,799.54 | 180.10 |
| 2002 | 8 | -4.76% | 1,563,687.14 | 180.70 |
| 2002 | 9 | -1.37% | 1,542,310.87 | 181.00 |
| 2002 | 10 | 6.63% | 1,644,497.86 | 181.30 |
| 2002 | 11 | -1.04% | 1,627,476.30 | 181.30 |
| 2002 | 12 | -0.22% | 1,623,854.88 | 180.90 |
| 2003 | 1 | -6.41% | 1,519,687.25 | 181.70 |
| 2003 | 2 | 1.31% | 1,539,563.22 | 183.10 |
| 2003 | 3 | 5.29% | 1,620,942.35 | 184.20 |
| 2003 | 4 | 5.31% | 1,707,050.24 | 183.80 |
| 2003 | 5 | 5.70% | 1,804,423.55 | 183.50 |
| 2003 | 6 | 0.60% | 1,815,176.12 | 183.70 |
| 2003 | 7 | -0.17% | 1,812,157.04 | 183.90 |
| 2003 | 8 | 3.16% | 1,869,442.61 | 184.60 |
| 2003 | 9 | 2.03% | 1,907,351.71 | 185.20 |
| 2003 | 10 | 1.21% | 1,930,441.84 | 185.00 |
| 2003 | 11 | 3.06% | 1,989,586.92 | 184.50 |
| 2003 | 12 | 4.93% | 2,087,772.27 | 184.30 |
| 2004 | 1 | 1.09% | 2,110,459.30 | 185.20 |
| 2004 | 2 | -1.57% | 2,077,426.46 | 186.20 |
| 2004 | 3 | 0.97% | 2,097,538.79 | 187.40 |
| 2004 | 4 | -2.56% | 2,043,752.58 | 188.00 |
| 2004 | 5 | 2.86% | 2,102,156.43 | 189.10 |
| 2004 | 6 | -2.24% | 2,055,093.78 | 189.70 |
| 2004 | 7 | -1.39% | 2,026,577.91 | 189.40 |
| 2004 | 8 | 2.78% | 2,082,969.96 | 189.50 |
| 2004 | 9 | 0.10% | 2,085,106.99 | 189.90 |
| 2004 | 10 | 4.77% | 2,184,647.83 | 190.90 |
| 2004 | 11 | 2.73% | 2,244,232.95 | 191.00 |
| 2004 | 12 | -1.35% | 2,213,953.28 | 190.30 |
| 2005 | 1 | 1.68% | 2,251,174.41 | 190.70 |
| 2005 | 2 | -0.26% | 2,245,420.68 | 191.80 |
| 2005 | 3 | -2.41% | 2,191,330.32 | 193.30 |
| 2005 | 4 | 1.34% | 2,220,603.66 | 194.60 |
| 2005 | 5 | 2.18% | 2,269,028.31 | 194.40 |
| 2005 | 6 | 1.81% | 2,310,047.60 | 194.50 |
| 2005 | 7 | 0.31% | 2,317,209.16 | 195.40 |
| 2005 | 8 | 0.28% | 2,323,690.18 | 196.40 |
| 2005 | 9 | -2.62% | 2,262,711.44 | 198.80 |
| 2005 | 10 | 3.96% | 2,352,349.72 | 199.20 |
| 2005 | 11 | 2.14% | 2,402,787.17 | 197.60 |
| 2005 | 12 | 1.47% | 2,438,030.54 | 196.80 |
| 2006 | 1 | -0.02% | 2,437,624.86 | 198.30 |
| 2006 | 2 | 1.49% | 2,473,851.32 | 198.70 |
| 2006 | 3 | 0.80% | 2,493,600.85 | 199.80 |
| 2006 | 4 | -0.79% | 2,473,985.30 | 201.50 |
| 2006 | 5 | -2.71% | 2,407,044.38 | 202.50 |
| 2006 | 6 | 0.72% | 2,424,376.08 | 202.90 |
| 2006 | 7 | 2.29% | 2,479,936.94 | 203.50 |
| 2006 | 8 | 2.53% | 2,542,708.45 | 203.90 |
| 2006 | 9 | 3.62% | 2,634,650.58 | 202.90 |
| 2006 | 10 | 2.00% | 2,687,386.87 | 201.80 |
| 2006 | 11 | 2.15% | 2,745,119.07 | 201.50 |
| 2006 | 12 | 0.69% | 2,764,137.98 | 201.80 |
| 2007 | 1 | 1.60% | 2,808,254.95 | 202.42 |
| 2007 | 2 | -2.47% | 2,738,781.78 | 203.50 |
| 2007 | 3 | 4.18% | 2,853,269.98 | 205.35 |
| 2007 | 4 | 3.39% | 2,950,045.85 | 206.69 |
| 2007 | 5 | 0.34% | 2,960,220.60 | 207.95 |
| 2007 | 6 | 0.57% | 2,977,230.61 | 208.35 |
| 2007 | 7 | -4.20% | 2,852,153.94 | 208.30 |
| 2007 | 8 | 3.07% | 2,939,850.36 | 207.92 |
| 2007 | 9 | 2.99% | 3,027,799.89 | 208.49 |
| 2007 | 10 | -4.81% | 2,882,274.44 | 208.94 |
| 2007 | 11 | 1.24% | 2,917,963.36 | 210.18 |
| 2007 | 12 | -6.64% | 2,724,350.73 | 210.04 |
| 2008 | 1 | -1.56% | 2,681,742.82 | 211.08 |
| 2008 | 2 | -2.63% | 2,611,303.21 | 211.69 |
| 2008 | 3 | 4.24% | 2,722,121.76 | 213.53 |
| 2008 | 4 | 2.56% | 2,791,878.97 | 214.82 |
| 2008 | 5 | -4.25% | 2,673,319.53 | 216.63 |
| 2008 | 6 | -6.08% | 2,510,822.57 | 218.82 |
| 2008 | 7 | 2.11% | 2,563,814.35 | 219.96 |
| 2008 | 8 | -4.85% | 2,439,532.53 | 219.09 |
| 2008 | 9 | -20.19% | 1,946,903.45 | 218.78 |
| 2008 | 10 | -8.61% | 1,779,365.63 | 216.57 |
| 2008 | 11 | -0.35% | 1,773,116.19 | 212.43 |
| 2008 | 12 | -1.10% | 1,753,690.70 | 210.23 |
| 2009 | 1 | -6.70% | 1,636,149.47 | 211.14 |
| 2009 | 2 | -5.69% | 1,543,094.51 | 212.19 |
| 2009 | 3 | 12.32% | 1,733,230.76 | 212.71 |
| 2009 | 4 | 6.66% | 1,848,660.84 | 213.24 |
| 2009 | 5 | 2.87% | 1,901,696.35 | 213.86 |
| 2009 | 6 | 1.28% | 1,925,993.22 | 215.69 |
| 2009 | 7 | 8.12% | 2,082,398.22 | 215.35 |
| 2009 | 8 | 3.65% | 2,158,412.90 | 215.83 |
| 2009 | 9 | 2.40% | 2,210,281.90 | 215.97 |
| 2009 | 10 | 2.09% | 2,256,572.40 | 216.18 |
| 2009 | 11 | 2.23% | 2,306,800.49 | 216.33 |
| 2009 | 12 | 1.36% | 2,338,103.03 | 215.95 |
| 2010 | 1 | -2.90% | 2,270,333.74 | 216.69 |
| 2010 | 2 | 5.94% | 2,405,260.48 | 216.74 |
| 2010 | 3 | 4.09% | 2,503,585.85 | 217.63 |
| 2010 | 4 | -5.88% | 2,356,315.00 | 218.01 |
| 2010 | 5 | -3.54% | 2,272,817.47 | 218.18 |
| 2010 | 6 | -0.16% | 2,269,202.03 | 217.97 |
| 2010 | 7 | 0.86% | 2,288,799.12 | 218.01 |
| 2010 | 8 | 3.37% | 2,365,958.08 | 218.31 |
| 2010 | 9 | 4.58% | 2,474,258.31 | 218.44 |
| 2010 | 10 | 2.49% | 2,535,889.96 | 218.71 |
| 2010 | 11 | 3.71% | 2,630,066.23 | 218.80 |
| 2010 | 12 | 3.46% | 2,721,124.20 | 219.18 |
| 2011 | 1 | 3.15% | 2,806,863.12 | 220.22 |
| 2011 | 2 | -1.11% | 2,775,637.86 | 221.31 |
| 2011 | 3 | 2.22% | 2,837,284.31 | 223.47 |
| 2011 | 4 | 0.66% | 2,855,988.67 | 224.91 |
| 2011 | 5 | -3.66% | 2,751,385.23 | 225.96 |
| 2011 | 6 | 3.10% | 2,836,725.92 | 225.72 |
| 2011 | 7 | -10.40% | 2,541,688.08 | 225.92 |
| 2011 | 8 | -0.79% | 2,521,627.93 | 226.55 |
| 2011 | 9 | 3.02% | 2,597,753.51 | 226.89 |
| 2011 | 10 | 1.77% | 2,643,658.99 | 226.42 |
| 2011 | 11 | 1.55% | 2,684,761.31 | 226.23 |
| 2011 | 12 | 4.78% | 2,813,161.57 | 225.67 |
| 2012 | 1 | 4.16% | 2,930,262.48 | 226.67 |
| 2012 | 2 | 2.88% | 3,014,766.48 | 227.66 |
| 2012 | 3 | -0.04% | 3,013,614.53 | 229.39 |
| 2012 | 4 | -3.09% | 2,920,465.14 | 230.09 |
| 2012 | 5 | -1.15% | 2,886,809.38 | 229.82 |
| 2012 | 6 | 2.92% | 2,971,135.59 | 229.48 |
| 2012 | 7 | 3.39% | 3,071,788.77 | 229.10 |
| 2012 | 8 | 3.02% | 3,164,592.61 | 230.38 |
| 2012 | 9 | -0.22% | 3,157,721.18 | 231.41 |
| 2012 | 10 | -2.84% | 3,068,121.03 | 231.32 |
| 2012 | 11 | 2.18% | 3,134,869.09 | 230.22 |
| 2012 | 12 | 4.27% | 3,268,689.17 | 229.60 |
| 2013 | 1 | 2.33% | 3,344,948.40 | 230.28 |
| 2013 | 2 | 2.72% | 3,436,013.08 | 232.17 |
| 2013 | 3 | 1.45% | 3,485,965.55 | 232.77 |
| 2013 | 4 | 4.57% | 3,645,423.02 | 232.53 |
| 2013 | 5 | -1.12% | 3,604,675.39 | 232.95 |
| 2013 | 6 | 3.25% | 3,721,988.72 | 233.50 |
| 2013 | 7 | 0.25% | 3,731,387.80 | 233.60 |
| 2013 | 8 | 1.19% | 3,775,883.38 | 233.88 |
| 2013 | 9 | 2.12% | 3,855,839.59 | 234.15 |
| 2013 | 10 | 3.86% | 4,004,674.77 | 233.55 |
| 2013 | 11 | 1.52% | 4,065,612.37 | 233.07 |
| 2013 | 12 | 0.97% | 4,104,959.68 | 233.05 |
| 2014 | 1 | -0.13% | 4,099,621.76 | 233.92 |
| 2014 | 2 | 2.72% | 4,211,224.51 | 234.78 |
| 2014 | 3 | 0.20% | 4,219,719.55 | 236.29 |
| 2014 | 4 | 1.53% | 4,284,367.12 | 237.07 |
| 2014 | 5 | 3.20% | 4,421,309.12 | 237.90 |
| 2014 | 6 | 1.50% | 4,487,444.03 | 238.34 |
| 2014 | 7 | -0.43% | 4,468,284.85 | 238.25 |
| 2014 | 8 | 1.78% | 4,547,732.46 | 237.85 |
| 2014 | 9 | -2.65% | 4,427,372.92 | 238.03 |
| 2014 | 10 | 5.71% | 4,679,983.42 | 237.43 |
| 2014 | 11 | 0.63% | 4,709,649.26 | 236.15 |
| 2014 | 12 | -1.11% | 4,657,370.01 | 234.81 |
| 2015 | 1 | 2.83% | 4,789,052.40 | 233.71 |
| 2015 | 2 | 0.06% | 4,791,703.78 | 234.72 |
| 2015 | 3 | 0.88% | 4,833,794.57 | 236.12 |
| 2015 | 4 | 0.98% | 4,881,112.78 | 236.60 |
| 2015 | 5 | -0.44% | 4,859,855.53 | 237.81 |
| 2015 | 6 | -0.08% | 4,855,985.62 | 238.64 |
| 2015 | 7 | -2.42% | 4,738,257.22 | 238.65 |
| 2015 | 8 | -4.51% | 4,524,699.45 | 238.32 |
| 2015 | 9 | 4.32% | 4,720,036.12 | 237.95 |
| 2015 | 10 | 2.93% | 4,858,449.76 | 237.84 |
| 2015 | 11 | -1.10% | 4,804,862.53 | 237.34 |
| 2015 | 12 | -6.42% | 4,496,408.53 | 236.53 |
| 2016 | 1 | -0.55% | 4,471,682.37 | 236.92 |
| 2016 | 2 | 6.36% | 4,756,203.33 | 237.11 |
| 2016 | 3 | 2.83% | 4,890,863.83 | 238.13 |
| 2016 | 4 | -0.30% | 4,875,977.74 | 239.26 |
| 2016 | 5 | 1.07% | 4,927,979.56 | 240.23 |
| 2016 | 6 | 3.30% | 5,090,476.68 | 241.02 |
| 2016 | 7 | 1.20% | 5,151,524.58 | 240.63 |
| 2016 | 8 | -0.44% | 5,128,926.32 | 240.85 |
| 2016 | 9 | -0.51% | 5,102,974.93 | 241.43 |
| 2016 | 10 | 1.20% | 5,164,269.85 | 241.73 |
| 2016 | 11 | 3.95% | 5,368,050.07 | 241.35 |
| 2016 | 12 | 1.44% | 5,445,223.03 | 241.43 |
| 2017 | 1 | 2.58% | 5,585,516.22 | 242.84 |
| 2017 | 2 | 1.75% | 5,683,221.24 | 243.60 |
| 2017 | 3 | -0.15% | 5,674,468.85 | 243.80 |
| 2017 | 4 | 1.69% | 5,770,502.05 | 244.52 |
| 2017 | 5 | 1.78% | 5,873,010.86 | 244.73 |
| 2017 | 6 | 0.99% | 5,931,029.40 | 244.96 |
| 2017 | 7 | 0.25% | 5,945,726.80 | 244.79 |
| 2017 | 8 | 1.65% | 6,044,025.31 | 245.52 |
| 2017 | 9 | 2.73% | 6,209,317.26 | 246.82 |
| 2017 | 10 | 1.59% | 6,308,018.64 | 246.66 |
| 2017 | 11 | 2.88% | 6,489,909.49 | 246.67 |
| 2017 | 12 | 4.86% | 6,805,442.29 | 246.52 |
| 2018 | 1 | -2.89% | 6,608,990.51 | 247.87 |
| 2018 | 2 | 0.06% | 6,613,258.48 | 248.99 |
| 2018 | 3 | -1.66% | 6,503,215.71 | 249.55 |
| 2018 | 4 | 1.96% | 6,630,784.17 | 250.55 |
| 2018 | 5 | 2.11% | 6,770,890.63 | 251.59 |
| 2018 | 6 | 1.58% | 6,877,920.94 | 251.99 |
| 2018 | 7 | 2.45% | 7,046,485.37 | 252.01 |
| 2018 | 8 | 1.68% | 7,164,848.54 | 252.15 |
| 2018 | 9 | -3.85% | 6,889,074.52 | 252.44 |
| 2018 | 10 | -2.08% | 6,746,049.87 | 252.89 |
| 2018 | 11 | -5.56% | 6,370,800.02 | 252.04 |
| 2018 | 12 | 1.74% | 6,481,373.95 | 251.23 |
| 2019 | 1 | 5.83% | 6,859,166.92 | 251.71 |
| 2019 | 2 | 1.95% | 6,992,785.00 | 252.78 |
| 2019 | 3 | 3.72% | 7,253,141.74 | 254.20 |
| 2019 | 4 | -1.53% | 7,142,038.94 | 255.55 |
| 2019 | 5 | 1.40% | 7,242,366.68 | 256.09 |
| 2019 | 6 | 3.83% | 7,519,556.95 | 256.14 |
| 2019 | 7 | -3.13% | 7,283,862.90 | 256.57 |
| 2019 | 8 | 3.09% | 7,508,586.64 | 256.56 |
| 2019 | 9 | 0.01% | 7,509,322.69 | 256.76 |
| 2019 | 10 | 4.43% | 7,842,262.94 | 257.35 |
| 2019 | 11 | 2.47% | 8,035,913.50 | 257.21 |
| 2019 | 12 | 3.35% | 8,304,827.11 | 256.97 |
| 2020 | 1 | 0.12% | 8,314,965.38 | 257.97 |
| 2020 | 2 | -18.92% | 6,741,964.43 | 258.68 |
| 2020 | 3 | 4.32% | 7,033,123.87 | 258.12 |
| 2020 | 4 | 5.89% | 7,447,189.57 | 256.39 |
| 2020 | 5 | 6.51% | 7,931,872.92 | 256.39 |
| 2020 | 6 | 3.48% | 8,207,619.31 | 257.80 |
| 2020 | 7 | 5.89% | 8,691,335.76 | 259.10 |
| 2020 | 8 | -0.63% | 8,636,840.85 | 259.92 |
| 2020 | 9 | 1.73% | 8,785,912.84 | 260.28 |
| 2020 | 10 | 3.95% | 9,133,318.08 | 260.39 |
| 2020 | 11 | 4.26% | 9,522,404.78 | 260.23 |
| 2020 | 12 | 2.80% | 9,788,584.54 | 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 $100,000.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $100,000.00 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 $8,420,046.44, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $9,788,584.54).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1980 | 1 | 4166.66 | 4,331.97 |
| 1980 | 2 | 4166.66 | 7,735.32 |
| 1980 | 3 | 4166.66 | 11,744.44 |
| 1980 | 4 | 4166.66 | 16,692.70 |
| 1980 | 5 | 4166.66 | 22,271.87 |
| 1980 | 6 | 4166.66 | 27,734.38 |
| 1980 | 7 | 4166.66 | 33,001.73 |
| 1980 | 8 | 4166.66 | 38,205.47 |
| 1980 | 9 | 4166.66 | 43,764.25 |
| 1980 | 10 | 4166.66 | 50,126.50 |
| 1980 | 11 | 4166.66 | 53,601.65 |
| 1980 | 12 | 4166.66 | 57,758.06 |
| 1981 | 1 | 4166.66 | 60,007.33 |
| 1981 | 2 | 4166.66 | 66,816.04 |
| 1981 | 3 | 4166.66 | 71,884.70 |
| 1981 | 4 | 4166.66 | 74,805.08 |
| 1981 | 5 | 4166.66 | 79,632.25 |
| 1981 | 6 | 4166.66 | 82,092.54 |
| 1981 | 7 | 4166.66 | 86,934.18 |
| 1981 | 8 | 4166.66 | 83,519.68 |
| 1981 | 9 | 4166.66 | 89,181.76 |
| 1981 | 10 | 4166.66 | 96,170.69 |
| 1981 | 11 | 4166.66 | 101,502.07 |
| 1981 | 12 | 4166.82 | 100,573.83 |
| 1982 | 1 | - | 98,648.96 |
| 1982 | 2 | - | 95,941.49 |
| 1982 | 3 | - | 101,188.84 |
| 1982 | 4 | - | 101,765.26 |
| 1982 | 5 | - | 96,401.60 |
| 1982 | 6 | - | 96,636.67 |
| 1982 | 7 | - | 97,403.94 |
| 1982 | 8 | - | 109,186.29 |
| 1982 | 9 | - | 118,883.56 |
| 1982 | 10 | - | 124,233.22 |
| 1982 | 11 | - | 125,917.20 |
| 1982 | 12 | - | 130,860.40 |
| 1983 | 1 | - | 133,647.74 |
| 1983 | 2 | - | 138,814.05 |
| 1983 | 3 | - | 144,640.62 |
| 1983 | 4 | - | 151,039.53 |
| 1983 | 5 | - | 153,688.02 |
| 1983 | 6 | - | 154,776.33 |
| 1983 | 7 | - | 151,050.58 |
| 1983 | 8 | - | 156,056.14 |
| 1983 | 9 | - | 157,067.27 |
| 1983 | 10 | - | 155,274.47 |
| 1983 | 11 | - | 155,075.52 |
| 1983 | 12 | - | 157,519.41 |
| 1984 | 1 | - | 149,466.73 |
| 1984 | 2 | - | 150,127.92 |
| 1984 | 3 | - | 150,889.36 |
| 1984 | 4 | - | 150,508.26 |
| 1984 | 5 | - | 147,726.41 |
| 1984 | 6 | - | 146,384.39 |
| 1984 | 7 | - | 159,861.36 |
| 1984 | 8 | - | 162,110.56 |
| 1984 | 9 | - | 161,442.01 |
| 1984 | 10 | - | 163,517.99 |
| 1984 | 11 | - | 162,361.01 |
| 1984 | 12 | - | 169,988.03 |
| 1985 | 1 | - | 179,825.85 |
| 1985 | 2 | - | 178,965.71 |
| 1985 | 3 | - | 180,799.59 |
| 1985 | 4 | - | 185,745.61 |
| 1985 | 5 | - | 190,409.62 |
| 1985 | 6 | - | 194,688.55 |
| 1985 | 7 | - | 191,095.94 |
| 1985 | 8 | - | 187,493.79 |
| 1985 | 9 | - | 190,297.88 |
| 1985 | 10 | - | 202,515.99 |
| 1985 | 11 | - | 213,238.22 |
| 1985 | 12 | - | 214,841.20 |
| 1986 | 1 | - | 227,081.23 |
| 1986 | 2 | - | 241,121.14 |
| 1986 | 3 | - | 247,731.30 |
| 1986 | 4 | - | 248,949.72 |
| 1986 | 5 | - | 256,749.91 |
| 1986 | 6 | - | 252,118.36 |
| 1986 | 7 | - | 257,868.81 |
| 1986 | 8 | - | 251,534.95 |
| 1986 | 9 | - | 251,308.89 |
| 1986 | 10 | - | 260,187.50 |
| 1986 | 11 | - | 264,633.95 |
| 1986 | 12 | - | 282,293.96 |
| 1987 | 1 | - | 300,535.45 |
| 1987 | 2 | - | 313,688.11 |
| 1987 | 3 | - | 311,001.65 |
| 1987 | 4 | - | 311,539.16 |
| 1987 | 5 | - | 325,553.57 |
| 1987 | 6 | - | 335,717.67 |
| 1987 | 7 | - | 357,384.92 |
| 1987 | 8 | - | 346,554.64 |
| 1987 | 9 | - | 305,474.45 |
| 1987 | 10 | - | 267,890.66 |
| 1987 | 11 | - | 264,315.14 |
| 1987 | 12 | - | 275,539.40 |
| 1988 | 1 | - | 284,710.90 |
| 1988 | 2 | - | 293,912.93 |
| 1988 | 3 | - | 291,308.79 |
| 1988 | 4 | - | 284,934.17 |
| 1988 | 5 | - | 302,025.09 |
| 1988 | 6 | - | 301,098.12 |
| 1988 | 7 | - | 295,923.79 |
| 1988 | 8 | - | 301,626.74 |
| 1988 | 9 | - | 313,093.43 |
| 1988 | 10 | - | 306,768.17 |
| 1988 | 11 | - | 313,903.46 |
| 1988 | 12 | - | 324,929.81 |
| 1989 | 1 | - | 335,652.02 |
| 1989 | 2 | - | 335,109.40 |
| 1989 | 3 | - | 347,055.38 |
| 1989 | 4 | - | 361,337.76 |
| 1989 | 5 | - | 373,596.58 |
| 1989 | 6 | - | 384,057.94 |
| 1989 | 7 | - | 402,073.15 |
| 1989 | 8 | - | 403,904.74 |
| 1989 | 9 | - | 405,060.94 |
| 1989 | 10 | - | 397,714.96 |
| 1989 | 11 | - | 408,599.25 |
| 1989 | 12 | - | 399,564.20 |
| 1990 | 1 | - | 389,466.47 |
| 1990 | 2 | - | 400,009.98 |
| 1990 | 3 | - | 400,793.95 |
| 1990 | 4 | - | 416,228.22 |
| 1990 | 5 | - | 429,422.48 |
| 1990 | 6 | - | 430,151.31 |
| 1990 | 7 | - | 396,336.14 |
| 1990 | 8 | - | 379,130.94 |
| 1990 | 9 | - | 370,351.15 |
| 1990 | 10 | - | 381,401.74 |
| 1990 | 11 | - | 398,895.13 |
| 1990 | 12 | - | 396,162.02 |
| 1991 | 1 | - | 442,143.65 |
| 1991 | 2 | - | 455,605.25 |
| 1991 | 3 | - | 465,896.59 |
| 1991 | 4 | - | 465,063.20 |
| 1991 | 5 | - | 466,677.02 |
| 1991 | 6 | - | 470,319.37 |
| 1991 | 7 | - | 482,918.91 |
| 1991 | 8 | - | 481,455.18 |
| 1991 | 9 | - | 482,329.72 |
| 1991 | 10 | - | 482,405.91 |
| 1991 | 11 | - | 486,917.08 |
| 1991 | 12 | - | 522,744.56 |
| 1992 | 1 | - | 519,603.67 |
| 1992 | 2 | - | 514,343.32 |
| 1992 | 3 | - | 515,702.75 |
| 1992 | 4 | - | 526,369.29 |
| 1992 | 5 | - | 519,373.19 |
| 1992 | 6 | - | 529,304.30 |
| 1992 | 7 | - | 534,288.87 |
| 1992 | 8 | - | 536,309.48 |
| 1992 | 9 | - | 529,970.00 |
| 1992 | 10 | - | 544,580.76 |
| 1992 | 11 | - | 562,395.09 |
| 1992 | 12 | - | 563,198.71 |
| 1993 | 1 | - | 572,909.65 |
| 1993 | 2 | - | 585,228.08 |
| 1993 | 3 | - | 577,375.81 |
| 1993 | 4 | - | 581,560.20 |
| 1993 | 5 | - | 586,591.75 |
| 1993 | 6 | - | 586,949.60 |
| 1993 | 7 | - | 597,294.38 |
| 1993 | 8 | - | 605,387.55 |
| 1993 | 9 | - | 612,905.90 |
| 1993 | 10 | - | 612,952.14 |
| 1993 | 11 | - | 618,390.13 |
| 1993 | 12 | - | 629,124.64 |
| 1994 | 1 | - | 628,648.39 |
| 1994 | 2 | - | 619,697.58 |
| 1994 | 3 | - | 598,960.16 |
| 1994 | 4 | - | 605,298.61 |
| 1994 | 5 | - | 612,005.88 |
| 1994 | 6 | - | 608,830.33 |
| 1994 | 7 | - | 627,594.96 |
| 1994 | 8 | - | 632,725.33 |
| 1994 | 9 | - | 629,915.98 |
| 1994 | 10 | - | 627,586.03 |
| 1994 | 11 | - | 621,148.84 |
| 1994 | 12 | - | 636,374.28 |
| 1995 | 1 | - | 660,678.01 |
| 1995 | 2 | - | 677,579.27 |
| 1995 | 3 | - | 699,367.20 |
| 1995 | 4 | - | 722,780.33 |
| 1995 | 5 | - | 745,753.34 |
| 1995 | 6 | - | 772,208.79 |
| 1995 | 7 | - | 776,171.18 |
| 1995 | 8 | - | 805,026.62 |
| 1995 | 9 | - | 812,373.03 |
| 1995 | 10 | - | 831,531.92 |
| 1995 | 11 | - | 859,713.68 |
| 1995 | 12 | - | 861,111.40 |
| 1996 | 1 | - | 911,954.81 |
| 1996 | 2 | - | 910,124.54 |
| 1996 | 3 | - | 911,917.87 |
| 1996 | 4 | - | 933,391.94 |
| 1996 | 5 | - | 945,326.23 |
| 1996 | 6 | - | 912,461.35 |
| 1996 | 7 | - | 940,526.41 |
| 1996 | 8 | - | 959,560.09 |
| 1996 | 9 | - | 999,089.15 |
| 1996 | 10 | - | 1,049,563.95 |
| 1996 | 11 | - | 1,062,140.12 |
| 1996 | 12 | - | 1,096,739.76 |
| 1997 | 1 | - | 1,144,570.37 |
| 1997 | 2 | - | 1,137,431.85 |
| 1997 | 3 | - | 1,098,699.50 |
| 1997 | 4 | - | 1,199,975.76 |
| 1997 | 5 | - | 1,264,016.37 |
| 1997 | 6 | - | 1,336,519.39 |
| 1997 | 7 | - | 1,341,167.66 |
| 1997 | 8 | - | 1,357,154.49 |
| 1997 | 9 | - | 1,379,484.78 |
| 1997 | 10 | - | 1,363,592.52 |
| 1997 | 11 | - | 1,399,517.95 |
| 1997 | 12 | - | 1,402,836.05 |
| 1998 | 1 | - | 1,492,647.83 |
| 1998 | 2 | - | 1,571,950.31 |
| 1998 | 3 | - | 1,625,485.83 |
| 1998 | 4 | - | 1,621,879.57 |
| 1998 | 5 | - | 1,623,768.36 |
| 1998 | 6 | - | 1,696,312.91 |
| 1998 | 7 | - | 1,578,062.82 |
| 1998 | 8 | - | 1,500,762.20 |
| 1998 | 9 | - | 1,520,134.89 |
| 1998 | 10 | - | 1,686,960.33 |
| 1998 | 11 | - | 1,756,194.95 |
| 1998 | 12 | - | 1,844,842.18 |
| 1999 | 1 | - | 1,843,611.48 |
| 1999 | 2 | - | 1,897,509.64 |
| 1999 | 3 | - | 1,978,154.22 |
| 1999 | 4 | - | 1,976,199.18 |
| 1999 | 5 | - | 1,964,109.44 |
| 1999 | 6 | - | 2,052,934.08 |
| 1999 | 7 | - | 1,975,448.43 |
| 1999 | 8 | - | 1,963,634.92 |
| 1999 | 9 | - | 1,938,648.23 |
| 1999 | 10 | - | 2,076,407.60 |
| 1999 | 11 | - | 2,134,728.29 |
| 1999 | 12 | - | 2,132,189.41 |
| 2000 | 1 | - | 2,079,352.10 |
| 2000 | 2 | - | 2,161,298.41 |
| 2000 | 3 | - | 2,192,089.68 |
| 2000 | 4 | - | 2,129,860.77 |
| 2000 | 5 | - | 2,197,238.49 |
| 2000 | 6 | - | 2,215,922.54 |
| 2000 | 7 | - | 2,236,745.81 |
| 2000 | 8 | - | 2,212,596.77 |
| 2000 | 9 | - | 2,097,226.89 |
| 2000 | 10 | - | 2,081,024.47 |
| 2000 | 11 | - | 2,011,932.92 |
| 2000 | 12 | - | 2,021,087.37 |
| 2001 | 1 | - | 1,977,911.73 |
| 2001 | 2 | - | 1,798,319.27 |
| 2001 | 3 | - | 1,806,388.21 |
| 2001 | 4 | - | 1,930,655.67 |
| 2001 | 5 | - | 1,884,539.02 |
| 2001 | 6 | - | 1,834,406.00 |
| 2001 | 7 | - | 1,796,877.00 |
| 2001 | 8 | - | 1,594,776.41 |
| 2001 | 9 | - | 1,645,554.59 |
| 2001 | 10 | - | 1,728,706.87 |
| 2001 | 11 | - | 1,754,050.57 |
| 2001 | 12 | - | 1,748,828.95 |
| 2002 | 1 | - | 1,690,194.75 |
| 2002 | 2 | - | 1,773,779.46 |
| 2002 | 3 | - | 1,711,441.18 |
| 2002 | 4 | - | 1,663,172.18 |
| 2002 | 5 | - | 1,564,696.45 |
| 2002 | 6 | - | 1,396,358.59 |
| 2002 | 7 | - | 1,412,260.20 |
| 2002 | 8 | - | 1,345,068.67 |
| 2002 | 9 | - | 1,326,681.01 |
| 2002 | 10 | - | 1,414,581.27 |
| 2002 | 11 | - | 1,399,939.49 |
| 2002 | 12 | - | 1,396,824.38 |
| 2003 | 1 | - | 1,307,220.39 |
| 2003 | 2 | - | 1,324,317.50 |
| 2003 | 3 | - | 1,394,319.05 |
| 2003 | 4 | - | 1,468,388.23 |
| 2003 | 5 | - | 1,552,147.81 |
| 2003 | 6 | - | 1,561,397.07 |
| 2003 | 7 | - | 1,558,800.09 |
| 2003 | 8 | - | 1,608,076.58 |
| 2003 | 9 | - | 1,640,685.63 |
| 2003 | 10 | - | 1,660,547.54 |
| 2003 | 11 | - | 1,711,423.57 |
| 2003 | 12 | - | 1,795,881.66 |
| 2004 | 1 | - | 1,815,396.83 |
| 2004 | 2 | - | 1,786,982.29 |
| 2004 | 3 | - | 1,804,282.73 |
| 2004 | 4 | - | 1,758,016.35 |
| 2004 | 5 | - | 1,808,254.78 |
| 2004 | 6 | - | 1,767,771.94 |
| 2004 | 7 | - | 1,743,242.86 |
| 2004 | 8 | - | 1,791,750.76 |
| 2004 | 9 | - | 1,793,589.02 |
| 2004 | 10 | - | 1,879,213.09 |
| 2004 | 11 | - | 1,930,467.64 |
| 2004 | 12 | - | 1,904,421.35 |
| 2005 | 1 | - | 1,936,438.61 |
| 2005 | 2 | - | 1,931,489.31 |
| 2005 | 3 | - | 1,884,961.30 |
| 2005 | 4 | - | 1,910,141.95 |
| 2005 | 5 | - | 1,951,796.37 |
| 2005 | 6 | - | 1,987,080.76 |
| 2005 | 7 | - | 1,993,241.08 |
| 2005 | 8 | - | 1,998,815.98 |
| 2005 | 9 | - | 1,946,362.66 |
| 2005 | 10 | - | 2,023,468.64 |
| 2005 | 11 | - | 2,066,854.46 |
| 2005 | 12 | - | 2,097,170.46 |
| 2006 | 1 | - | 2,096,821.50 |
| 2006 | 2 | - | 2,127,983.16 |
| 2006 | 3 | - | 2,144,971.51 |
| 2006 | 4 | - | 2,128,098.40 |
| 2006 | 5 | - | 2,070,516.47 |
| 2006 | 6 | - | 2,085,425.03 |
| 2006 | 7 | - | 2,133,217.95 |
| 2006 | 8 | - | 2,187,213.40 |
| 2006 | 9 | - | 2,266,301.13 |
| 2006 | 10 | - | 2,311,664.39 |
| 2006 | 11 | - | 2,361,325.06 |
| 2006 | 12 | - | 2,377,684.95 |
| 2007 | 1 | - | 2,415,633.94 |
| 2007 | 2 | - | 2,355,873.79 |
| 2007 | 3 | - | 2,454,355.44 |
| 2007 | 4 | - | 2,537,601.12 |
| 2007 | 5 | - | 2,546,353.34 |
| 2007 | 6 | - | 2,560,985.19 |
| 2007 | 7 | - | 2,453,395.44 |
| 2007 | 8 | - | 2,528,831.06 |
| 2007 | 9 | - | 2,604,484.40 |
| 2007 | 10 | - | 2,479,304.80 |
| 2007 | 11 | - | 2,510,004.07 |
| 2007 | 12 | - | 2,343,460.35 |
| 2008 | 1 | - | 2,306,809.43 |
| 2008 | 2 | - | 2,246,217.95 |
| 2008 | 3 | - | 2,341,543.00 |
| 2008 | 4 | - | 2,401,547.48 |
| 2008 | 5 | - | 2,299,563.80 |
| 2008 | 6 | - | 2,159,785.47 |
| 2008 | 7 | - | 2,205,368.49 |
| 2008 | 8 | - | 2,098,462.46 |
| 2008 | 9 | - | 1,674,707.66 |
| 2008 | 10 | - | 1,530,593.23 |
| 2008 | 11 | - | 1,525,217.53 |
| 2008 | 12 | - | 1,508,507.91 |
| 2009 | 1 | - | 1,407,400.07 |
| 2009 | 2 | - | 1,327,355.08 |
| 2009 | 3 | - | 1,490,908.46 |
| 2009 | 4 | - | 1,590,200.30 |
| 2009 | 5 | - | 1,635,820.94 |
| 2009 | 6 | - | 1,656,720.88 |
| 2009 | 7 | - | 1,791,258.96 |
| 2009 | 8 | - | 1,856,646.06 |
| 2009 | 9 | - | 1,901,263.27 |
| 2009 | 10 | - | 1,941,081.91 |
| 2009 | 11 | - | 1,984,287.63 |
| 2009 | 12 | - | 2,011,213.78 |
| 2010 | 1 | - | 1,952,919.29 |
| 2010 | 2 | - | 2,068,981.97 |
| 2010 | 3 | - | 2,153,560.51 |
| 2010 | 4 | - | 2,026,879.54 |
| 2010 | 5 | - | 1,955,055.77 |
| 2010 | 6 | - | 1,951,945.80 |
| 2010 | 7 | - | 1,968,803.03 |
| 2010 | 8 | - | 2,035,174.42 |
| 2010 | 9 | - | 2,128,333.24 |
| 2010 | 10 | - | 2,181,348.20 |
| 2010 | 11 | - | 2,262,357.72 |
| 2010 | 12 | - | 2,340,684.91 |
| 2011 | 1 | - | 2,414,436.71 |
| 2011 | 2 | - | 2,387,577.04 |
| 2011 | 3 | - | 2,440,604.72 |
| 2011 | 4 | - | 2,456,694.04 |
| 2011 | 5 | - | 2,366,715.16 |
| 2011 | 6 | - | 2,440,124.41 |
| 2011 | 7 | - | 2,186,335.68 |
| 2011 | 8 | - | 2,169,080.14 |
| 2011 | 9 | - | 2,234,562.63 |
| 2011 | 10 | - | 2,274,050.08 |
| 2011 | 11 | - | 2,309,405.90 |
| 2011 | 12 | - | 2,419,854.58 |
| 2012 | 1 | - | 2,520,583.65 |
| 2012 | 2 | - | 2,593,273.18 |
| 2012 | 3 | - | 2,592,282.29 |
| 2012 | 4 | - | 2,512,156.08 |
| 2012 | 5 | - | 2,483,205.71 |
| 2012 | 6 | - | 2,555,742.31 |
| 2012 | 7 | - | 2,642,323.21 |
| 2012 | 8 | - | 2,722,152.18 |
| 2012 | 9 | - | 2,716,241.44 |
| 2012 | 10 | - | 2,639,168.26 |
| 2012 | 11 | - | 2,696,584.29 |
| 2012 | 12 | - | 2,811,695.04 |
| 2013 | 1 | - | 2,877,292.50 |
| 2013 | 2 | - | 2,955,625.47 |
| 2013 | 3 | - | 2,998,594.10 |
| 2013 | 4 | - | 3,135,757.88 |
| 2013 | 5 | - | 3,100,707.16 |
| 2013 | 6 | - | 3,201,618.97 |
| 2013 | 7 | - | 3,209,703.96 |
| 2013 | 8 | - | 3,247,978.63 |
| 2013 | 9 | - | 3,316,756.20 |
| 2013 | 10 | - | 3,444,782.79 |
| 2013 | 11 | - | 3,497,200.73 |
| 2013 | 12 | - | 3,531,046.91 |
| 2014 | 1 | - | 3,526,455.28 |
| 2014 | 2 | - | 3,622,454.89 |
| 2014 | 3 | - | 3,629,762.25 |
| 2014 | 4 | - | 3,685,371.47 |
| 2014 | 5 | - | 3,803,167.65 |
| 2014 | 6 | - | 3,860,056.27 |
| 2014 | 7 | - | 3,843,575.73 |
| 2014 | 8 | - | 3,911,915.80 |
| 2014 | 9 | - | 3,808,383.68 |
| 2014 | 10 | - | 4,025,676.81 |
| 2014 | 11 | - | 4,051,195.08 |
| 2014 | 12 | - | 4,006,224.97 |
| 2015 | 1 | - | 4,119,496.89 |
| 2015 | 2 | - | 4,121,777.59 |
| 2015 | 3 | - | 4,157,983.68 |
| 2015 | 4 | - | 4,198,686.35 |
| 2015 | 5 | - | 4,180,401.07 |
| 2015 | 6 | - | 4,177,072.21 |
| 2015 | 7 | - | 4,075,803.37 |
| 2015 | 8 | - | 3,892,103.02 |
| 2015 | 9 | - | 4,060,129.76 |
| 2015 | 10 | - | 4,179,191.84 |
| 2015 | 11 | - | 4,133,096.61 |
| 2015 | 12 | - | 3,867,767.44 |
| 2016 | 1 | - | 3,846,498.24 |
| 2016 | 2 | - | 4,091,240.44 |
| 2016 | 3 | - | 4,207,074.11 |
| 2016 | 4 | - | 4,194,269.24 |
| 2016 | 5 | - | 4,239,000.71 |
| 2016 | 6 | - | 4,378,779.17 |
| 2016 | 7 | - | 4,431,291.98 |
| 2016 | 8 | - | 4,411,853.18 |
| 2016 | 9 | - | 4,389,530.04 |
| 2016 | 10 | - | 4,442,255.35 |
| 2016 | 11 | - | 4,617,545.14 |
| 2016 | 12 | - | 4,683,928.57 |
| 2017 | 1 | - | 4,804,607.43 |
| 2017 | 2 | - | 4,888,652.35 |
| 2017 | 3 | - | 4,881,123.63 |
| 2017 | 4 | - | 4,963,730.46 |
| 2017 | 5 | - | 5,051,907.56 |
| 2017 | 6 | - | 5,101,814.55 |
| 2017 | 7 | - | 5,114,457.11 |
| 2017 | 8 | - | 5,199,012.54 |
| 2017 | 9 | - | 5,341,195.09 |
| 2017 | 10 | - | 5,426,097.07 |
| 2017 | 11 | - | 5,582,557.83 |
| 2017 | 12 | - | 5,853,976.12 |
| 2018 | 1 | - | 5,684,990.18 |
| 2018 | 2 | - | 5,688,661.45 |
| 2018 | 3 | - | 5,594,003.72 |
| 2018 | 4 | - | 5,703,736.88 |
| 2018 | 5 | - | 5,824,255.12 |
| 2018 | 6 | - | 5,916,321.56 |
| 2018 | 7 | - | 6,061,319.06 |
| 2018 | 8 | - | 6,163,133.93 |
| 2018 | 9 | - | 5,925,915.76 |
| 2018 | 10 | - | 5,802,887.33 |
| 2018 | 11 | - | 5,480,101.02 |
| 2018 | 12 | - | 5,575,215.64 |
| 2019 | 1 | - | 5,900,189.53 |
| 2019 | 2 | - | 6,015,126.52 |
| 2019 | 3 | - | 6,239,082.89 |
| 2019 | 4 | - | 6,143,513.33 |
| 2019 | 5 | - | 6,229,814.28 |
| 2019 | 6 | - | 6,468,250.70 |
| 2019 | 7 | - | 6,265,508.94 |
| 2019 | 8 | - | 6,458,814.14 |
| 2019 | 9 | - | 6,459,447.28 |
| 2019 | 10 | - | 6,745,839.29 |
| 2019 | 11 | - | 6,912,415.64 |
| 2019 | 12 | - | 7,143,732.55 |
| 2020 | 1 | - | 7,152,453.39 |
| 2020 | 2 | - | 5,799,373.08 |
| 2020 | 3 | - | 6,049,825.63 |
| 2020 | 4 | - | 6,406,000.97 |
| 2020 | 5 | - | 6,822,920.93 |
| 2020 | 6 | - | 7,060,115.33 |
| 2020 | 7 | - | 7,476,203.57 |
| 2020 | 8 | - | 7,429,327.58 |
| 2020 | 9 | - | 7,557,557.88 |
| 2020 | 10 | - | 7,856,392.53 |
| 2020 | 11 | - | 8,191,081.17 |
| 2020 | 12 | - | 8,420,046.44 |
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 ($100000 base) | $9,788,584.54 |
| Final amount, inflation-adjusted ($100000 base) | $3,116,472.21 |