Stock market returns between 1980 and 2022
If you invested $1000000 in the S&P 500 at the beginning of 1980, you would have about $105,244,235.03 at the end of 2022, assuming you reinvested all dividends. This is a return on investment of 10,424.42%, or 11.44% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 2,863.25% cumulatively, or 8.20% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $90,530,088.10.
The graph below shows the performance of $1000000 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 $1000000 is $104,244,235.03, or 10,424.42%. This means by 2022 you would have $105,244,235.03 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 2022 was 292.656.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 42 years.
Adjusted for inflation, the $105,244,235.03 nominal end value of the original $1000000 investment would have a real return of roughly $28,632,503.37 in 1980 dollars. This means the inflation-adjusted return is 2,863.25% as opposed to the original 10,424.42%.
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 $1000000 investment, including gains and losses over the 516-month period between 1980 and 2022.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1980 | 1 | 4.40% | 1,043,958.52 | 77.80 |
| 1980 | 2 | -8.78% | 952,321.66 | 78.90 |
| 1980 | 3 | -1.16% | 941,255.20 | 80.10 |
| 1980 | 4 | 5.04% | 988,658.12 | 81.00 |
| 1980 | 5 | 6.86% | 1,056,506.60 | 81.80 |
| 1980 | 6 | 4.97% | 1,109,009.26 | 82.70 |
| 1980 | 7 | 3.50% | 1,147,876.53 | 82.70 |
| 1980 | 8 | 2.84% | 1,180,428.10 | 83.30 |
| 1980 | 9 | 3.32% | 1,219,674.61 | 84.00 |
| 1980 | 10 | 4.61% | 1,275,958.88 | 84.80 |
| 1980 | 11 | -1.24% | 1,260,076.00 | 85.50 |
| 1980 | 12 | 0.01% | 1,260,201.85 | 86.30 |
| 1981 | 1 | -3.07% | 1,221,511.44 | 87.00 |
| 1981 | 2 | 4.14% | 1,272,122.35 | 87.90 |
| 1981 | 3 | 1.29% | 1,288,580.99 | 88.50 |
| 1981 | 4 | -1.62% | 1,267,741.15 | 89.10 |
| 1981 | 5 | 0.86% | 1,278,613.16 | 89.80 |
| 1981 | 6 | -2.02% | 1,252,833.11 | 90.60 |
| 1981 | 7 | 0.80% | 1,262,887.90 | 91.60 |
| 1981 | 8 | -8.30% | 1,158,034.32 | 92.30 |
| 1981 | 9 | 1.73% | 1,178,036.43 | 93.20 |
| 1981 | 10 | 3.04% | 1,213,892.69 | 93.40 |
| 1981 | 11 | 1.18% | 1,228,208.96 | 93.70 |
| 1981 | 12 | -4.80% | 1,169,204.33 | 94.00 |
| 1982 | 1 | -1.91% | 1,146,826.98 | 94.30 |
| 1982 | 2 | -2.74% | 1,115,351.84 | 94.60 |
| 1982 | 3 | 5.47% | 1,176,353.93 | 94.50 |
| 1982 | 4 | 0.57% | 1,183,055.00 | 94.90 |
| 1982 | 5 | -5.27% | 1,120,700.69 | 95.80 |
| 1982 | 6 | 0.24% | 1,123,433.48 | 97.00 |
| 1982 | 7 | 0.79% | 1,132,353.28 | 97.50 |
| 1982 | 8 | 12.10% | 1,269,326.97 | 97.70 |
| 1982 | 9 | 8.88% | 1,382,060.98 | 97.90 |
| 1982 | 10 | 4.50% | 1,444,252.56 | 98.20 |
| 1982 | 11 | 1.36% | 1,463,829.39 | 98.00 |
| 1982 | 12 | 3.93% | 1,521,295.72 | 97.60 |
| 1983 | 1 | 2.13% | 1,553,699.54 | 97.80 |
| 1983 | 2 | 3.87% | 1,613,759.58 | 97.90 |
| 1983 | 3 | 4.20% | 1,681,495.34 | 97.90 |
| 1983 | 4 | 4.42% | 1,755,884.90 | 98.60 |
| 1983 | 5 | 1.75% | 1,786,674.41 | 99.20 |
| 1983 | 6 | 0.71% | 1,799,326.44 | 99.50 |
| 1983 | 7 | -2.41% | 1,756,013.31 | 99.90 |
| 1983 | 8 | 3.31% | 1,814,204.68 | 100.20 |
| 1983 | 9 | 0.65% | 1,825,959.40 | 100.70 |
| 1983 | 10 | -1.14% | 1,805,117.47 | 101.00 |
| 1983 | 11 | -0.13% | 1,802,804.62 | 101.20 |
| 1983 | 12 | 1.58% | 1,831,215.61 | 101.30 |
| 1984 | 1 | -5.11% | 1,737,600.58 | 101.90 |
| 1984 | 2 | 0.44% | 1,745,287.04 | 102.40 |
| 1984 | 3 | 0.51% | 1,754,139.14 | 102.60 |
| 1984 | 4 | -0.25% | 1,749,708.65 | 103.10 |
| 1984 | 5 | -1.85% | 1,717,368.71 | 103.40 |
| 1984 | 6 | -0.91% | 1,701,767.32 | 103.70 |
| 1984 | 7 | 9.21% | 1,858,441.53 | 104.10 |
| 1984 | 8 | 1.41% | 1,884,589.22 | 104.50 |
| 1984 | 9 | -0.41% | 1,876,817.13 | 105.00 |
| 1984 | 10 | 1.29% | 1,900,951.16 | 105.30 |
| 1984 | 11 | -0.71% | 1,887,500.85 | 105.30 |
| 1984 | 12 | 4.70% | 1,976,167.50 | 105.30 |
| 1985 | 1 | 5.79% | 2,090,535.44 | 105.50 |
| 1985 | 2 | -0.48% | 2,080,536.03 | 106.00 |
| 1985 | 3 | 1.02% | 2,101,855.53 | 106.40 |
| 1985 | 4 | 2.74% | 2,159,354.61 | 106.90 |
| 1985 | 5 | 2.51% | 2,213,575.29 | 107.30 |
| 1985 | 6 | 2.25% | 2,263,319.21 | 107.60 |
| 1985 | 7 | -1.85% | 2,221,553.95 | 107.80 |
| 1985 | 8 | -1.88% | 2,179,677.78 | 108.00 |
| 1985 | 9 | 1.50% | 2,212,276.26 | 108.30 |
| 1985 | 10 | 6.42% | 2,354,315.80 | 108.70 |
| 1985 | 11 | 5.29% | 2,478,965.40 | 109.00 |
| 1985 | 12 | 0.75% | 2,497,600.49 | 109.30 |
| 1986 | 1 | 5.70% | 2,639,894.94 | 109.60 |
| 1986 | 2 | 6.18% | 2,803,113.61 | 109.30 |
| 1986 | 3 | 2.74% | 2,879,958.90 | 108.80 |
| 1986 | 4 | 0.49% | 2,894,123.41 | 108.60 |
| 1986 | 5 | 3.13% | 2,984,803.24 | 108.90 |
| 1986 | 6 | -1.80% | 2,930,959.97 | 109.50 |
| 1986 | 7 | 2.28% | 2,997,810.88 | 109.50 |
| 1986 | 8 | -2.46% | 2,924,177.58 | 109.70 |
| 1986 | 9 | -0.09% | 2,921,549.54 | 110.20 |
| 1986 | 10 | 3.53% | 3,024,766.42 | 110.30 |
| 1986 | 11 | 1.71% | 3,076,457.85 | 110.40 |
| 1986 | 12 | 6.67% | 3,281,761.29 | 110.50 |
| 1987 | 1 | 6.46% | 3,493,824.69 | 111.20 |
| 1987 | 2 | 4.38% | 3,646,728.76 | 111.60 |
| 1987 | 3 | -0.86% | 3,615,497.80 | 112.10 |
| 1987 | 4 | 0.17% | 3,621,746.50 | 112.70 |
| 1987 | 5 | 4.50% | 3,784,668.71 | 113.10 |
| 1987 | 6 | 3.12% | 3,902,829.74 | 113.50 |
| 1987 | 7 | 6.45% | 4,154,718.81 | 113.80 |
| 1987 | 8 | -3.03% | 4,028,813.14 | 114.40 |
| 1987 | 9 | -11.85% | 3,551,242.24 | 115.00 |
| 1987 | 10 | -12.30% | 3,114,318.20 | 115.30 |
| 1987 | 11 | -1.33% | 3,072,751.58 | 115.40 |
| 1987 | 12 | 4.25% | 3,203,237.28 | 115.40 |
| 1988 | 1 | 3.33% | 3,309,859.12 | 115.70 |
| 1988 | 2 | 3.23% | 3,416,835.72 | 116.00 |
| 1988 | 3 | -0.89% | 3,386,561.72 | 116.50 |
| 1988 | 4 | -2.19% | 3,312,454.71 | 117.10 |
| 1988 | 5 | 6.00% | 3,511,142.35 | 117.50 |
| 1988 | 6 | -0.31% | 3,500,365.94 | 118.00 |
| 1988 | 7 | -1.72% | 3,440,212.67 | 118.50 |
| 1988 | 8 | 1.93% | 3,506,511.37 | 119.00 |
| 1988 | 9 | 3.80% | 3,639,815.50 | 119.80 |
| 1988 | 10 | -2.02% | 3,566,282.22 | 120.20 |
| 1988 | 11 | 2.33% | 3,649,232.27 | 120.30 |
| 1988 | 12 | 3.51% | 3,777,417.33 | 120.50 |
| 1989 | 1 | 3.30% | 3,902,066.51 | 121.10 |
| 1989 | 2 | -0.16% | 3,895,758.47 | 121.60 |
| 1989 | 3 | 3.56% | 4,034,634.43 | 122.30 |
| 1989 | 4 | 4.12% | 4,200,671.83 | 123.10 |
| 1989 | 5 | 3.39% | 4,343,184.76 | 123.80 |
| 1989 | 6 | 2.80% | 4,464,801.53 | 124.10 |
| 1989 | 7 | 4.69% | 4,674,234.34 | 124.40 |
| 1989 | 8 | 0.46% | 4,695,527.21 | 124.60 |
| 1989 | 9 | 0.29% | 4,708,968.43 | 125.00 |
| 1989 | 10 | -1.81% | 4,623,568.90 | 125.60 |
| 1989 | 11 | 2.74% | 4,750,102.41 | 125.90 |
| 1989 | 12 | -2.21% | 4,645,066.91 | 126.10 |
| 1990 | 1 | -2.53% | 4,527,677.54 | 127.40 |
| 1990 | 2 | 2.71% | 4,650,249.33 | 128.00 |
| 1990 | 3 | 0.20% | 4,659,363.15 | 128.70 |
| 1990 | 4 | 3.85% | 4,838,791.74 | 128.90 |
| 1990 | 5 | 3.17% | 4,992,179.36 | 129.20 |
| 1990 | 6 | 0.17% | 5,000,652.27 | 129.90 |
| 1990 | 7 | -7.86% | 4,607,539.65 | 130.40 |
| 1990 | 8 | -4.34% | 4,407,523.55 | 131.60 |
| 1990 | 9 | -2.32% | 4,305,455.49 | 132.70 |
| 1990 | 10 | 2.98% | 4,433,922.31 | 133.50 |
| 1990 | 11 | 4.59% | 4,637,288.83 | 133.80 |
| 1990 | 12 | -0.69% | 4,605,515.47 | 133.80 |
| 1991 | 1 | 11.61% | 5,140,067.28 | 134.60 |
| 1991 | 2 | 3.04% | 5,296,562.82 | 134.80 |
| 1991 | 3 | 2.26% | 5,416,203.08 | 135.00 |
| 1991 | 4 | -0.18% | 5,406,514.65 | 135.20 |
| 1991 | 5 | 0.35% | 5,425,275.85 | 135.60 |
| 1991 | 6 | 0.78% | 5,467,619.36 | 136.00 |
| 1991 | 7 | 2.68% | 5,614,093.24 | 136.20 |
| 1991 | 8 | -0.30% | 5,597,076.87 | 136.60 |
| 1991 | 9 | 0.18% | 5,607,243.74 | 137.20 |
| 1991 | 10 | 0.02% | 5,608,129.41 | 137.40 |
| 1991 | 11 | 0.94% | 5,660,573.26 | 137.80 |
| 1991 | 12 | 7.36% | 6,077,079.71 | 137.90 |
| 1992 | 1 | -0.60% | 6,040,565.82 | 138.10 |
| 1992 | 2 | -1.01% | 5,979,412.46 | 138.60 |
| 1992 | 3 | 0.26% | 5,995,216.26 | 139.30 |
| 1992 | 4 | 2.07% | 6,119,218.34 | 139.50 |
| 1992 | 5 | -1.33% | 6,037,886.43 | 139.70 |
| 1992 | 6 | 1.91% | 6,153,338.87 | 140.20 |
| 1992 | 7 | 0.94% | 6,211,286.08 | 140.50 |
| 1992 | 8 | 0.38% | 6,234,776.38 | 140.90 |
| 1992 | 9 | -1.18% | 6,161,077.85 | 141.30 |
| 1992 | 10 | 2.76% | 6,330,932.79 | 141.80 |
| 1992 | 11 | 3.27% | 6,538,030.26 | 142.00 |
| 1992 | 12 | 0.14% | 6,547,372.66 | 141.90 |
| 1993 | 1 | 1.72% | 6,660,265.56 | 142.60 |
| 1993 | 2 | 2.15% | 6,803,471.45 | 143.10 |
| 1993 | 3 | -1.34% | 6,712,186.20 | 143.60 |
| 1993 | 4 | 0.72% | 6,760,831.04 | 144.00 |
| 1993 | 5 | 0.87% | 6,819,324.57 | 144.20 |
| 1993 | 6 | 0.06% | 6,823,484.61 | 144.40 |
| 1993 | 7 | 1.76% | 6,943,746.20 | 144.40 |
| 1993 | 8 | 1.35% | 7,037,832.00 | 144.80 |
| 1993 | 9 | 1.24% | 7,125,235.32 | 145.10 |
| 1993 | 10 | 0.01% | 7,125,772.90 | 145.70 |
| 1993 | 11 | 0.89% | 7,188,991.32 | 145.80 |
| 1993 | 12 | 1.74% | 7,313,783.59 | 145.80 |
| 1994 | 1 | -0.08% | 7,308,246.98 | 146.20 |
| 1994 | 2 | -1.42% | 7,204,190.83 | 146.70 |
| 1994 | 3 | -3.35% | 6,963,111.41 | 147.20 |
| 1994 | 4 | 1.06% | 7,036,797.97 | 147.40 |
| 1994 | 5 | 1.11% | 7,114,772.24 | 147.50 |
| 1994 | 6 | -0.52% | 7,077,855.45 | 148.00 |
| 1994 | 7 | 3.08% | 7,296,000.48 | 148.40 |
| 1994 | 8 | 0.82% | 7,355,642.74 | 149.00 |
| 1994 | 9 | -0.44% | 7,322,983.19 | 149.40 |
| 1994 | 10 | -0.37% | 7,295,896.66 | 149.50 |
| 1994 | 11 | -1.03% | 7,221,062.19 | 149.70 |
| 1994 | 12 | 2.45% | 7,398,063.01 | 149.70 |
| 1995 | 1 | 3.82% | 7,680,601.97 | 150.30 |
| 1995 | 2 | 2.56% | 7,877,084.83 | 150.90 |
| 1995 | 3 | 3.22% | 8,130,376.67 | 151.40 |
| 1995 | 4 | 3.35% | 8,402,562.18 | 151.90 |
| 1995 | 5 | 3.18% | 8,669,631.06 | 152.20 |
| 1995 | 6 | 3.55% | 8,977,184.48 | 152.50 |
| 1995 | 7 | 0.51% | 9,023,248.58 | 152.50 |
| 1995 | 8 | 3.72% | 9,358,702.68 | 152.90 |
| 1995 | 9 | 0.91% | 9,444,107.16 | 153.20 |
| 1995 | 10 | 2.36% | 9,666,835.60 | 153.70 |
| 1995 | 11 | 3.39% | 9,994,457.99 | 153.60 |
| 1995 | 12 | 0.16% | 10,010,706.96 | 153.50 |
| 1996 | 1 | 5.90% | 10,601,778.50 | 154.40 |
| 1996 | 2 | -0.20% | 10,580,501.03 | 154.90 |
| 1996 | 3 | 0.20% | 10,601,349.07 | 155.70 |
| 1996 | 4 | 2.35% | 10,850,992.35 | 156.30 |
| 1996 | 5 | 1.28% | 10,989,732.40 | 156.60 |
| 1996 | 6 | -3.48% | 10,607,667.27 | 156.70 |
| 1996 | 7 | 3.08% | 10,933,932.88 | 157.00 |
| 1996 | 8 | 2.02% | 11,155,205.82 | 157.30 |
| 1996 | 9 | 4.12% | 11,614,744.27 | 157.80 |
| 1996 | 10 | 5.05% | 12,201,530.66 | 158.30 |
| 1996 | 11 | 1.20% | 12,347,732.75 | 158.60 |
| 1996 | 12 | 3.26% | 12,749,965.10 | 158.60 |
| 1997 | 1 | 4.36% | 13,306,011.94 | 159.10 |
| 1997 | 2 | -0.62% | 13,223,024.29 | 159.60 |
| 1997 | 3 | -3.41% | 12,772,747.73 | 160.00 |
| 1997 | 4 | 9.22% | 13,950,118.01 | 160.20 |
| 1997 | 5 | 5.34% | 14,694,611.44 | 160.10 |
| 1997 | 6 | 5.74% | 15,537,483.27 | 160.30 |
| 1997 | 7 | 0.35% | 15,591,520.95 | 160.50 |
| 1997 | 8 | 1.19% | 15,777,373.13 | 160.80 |
| 1997 | 9 | 1.65% | 16,036,970.21 | 161.20 |
| 1997 | 10 | -1.15% | 15,852,217.37 | 161.60 |
| 1997 | 11 | 2.63% | 16,269,862.51 | 161.50 |
| 1997 | 12 | 0.24% | 16,308,436.45 | 161.30 |
| 1998 | 1 | 6.40% | 17,352,528.38 | 161.60 |
| 1998 | 2 | 5.31% | 18,274,446.08 | 161.90 |
| 1998 | 3 | 3.41% | 18,896,814.37 | 162.20 |
| 1998 | 4 | -0.22% | 18,854,890.36 | 162.50 |
| 1998 | 5 | 0.12% | 18,876,848.21 | 162.80 |
| 1998 | 6 | 4.47% | 19,720,202.80 | 163.00 |
| 1998 | 7 | -6.97% | 18,345,506.04 | 163.20 |
| 1998 | 8 | -4.90% | 17,446,860.57 | 163.40 |
| 1998 | 9 | 1.29% | 17,672,074.55 | 163.60 |
| 1998 | 10 | 10.97% | 19,611,475.91 | 164.00 |
| 1998 | 11 | 4.10% | 20,416,351.46 | 164.00 |
| 1998 | 12 | 5.05% | 21,446,905.00 | 163.90 |
| 1999 | 1 | -0.07% | 21,432,597.75 | 164.30 |
| 1999 | 2 | 2.92% | 22,059,181.85 | 164.50 |
| 1999 | 3 | 4.25% | 22,996,701.96 | 165.00 |
| 1999 | 4 | -0.10% | 22,973,973.91 | 166.20 |
| 1999 | 5 | -0.61% | 22,833,426.69 | 166.20 |
| 1999 | 6 | 4.52% | 23,866,042.68 | 166.20 |
| 1999 | 7 | -3.77% | 22,965,246.18 | 166.70 |
| 1999 | 8 | -0.60% | 22,827,910.19 | 167.10 |
| 1999 | 9 | -1.27% | 22,537,431.61 | 167.90 |
| 1999 | 10 | 7.11% | 24,138,930.14 | 168.20 |
| 1999 | 11 | 2.81% | 24,816,927.69 | 168.30 |
| 1999 | 12 | -0.12% | 24,787,412.27 | 168.30 |
| 2000 | 1 | -2.48% | 24,173,161.03 | 168.80 |
| 2000 | 2 | 3.94% | 25,125,814.09 | 169.80 |
| 2000 | 3 | 1.42% | 25,483,772.87 | 171.20 |
| 2000 | 4 | -2.84% | 24,760,341.05 | 171.30 |
| 2000 | 5 | 3.16% | 25,543,629.53 | 171.50 |
| 2000 | 6 | 0.85% | 25,760,837.86 | 172.40 |
| 2000 | 7 | 0.94% | 26,002,915.31 | 172.80 |
| 2000 | 8 | -1.08% | 25,722,174.68 | 172.80 |
| 2000 | 9 | -5.21% | 24,380,961.39 | 173.70 |
| 2000 | 10 | -0.77% | 24,192,602.84 | 174.00 |
| 2000 | 11 | -3.32% | 23,389,390.58 | 174.10 |
| 2000 | 12 | 0.46% | 23,495,814.10 | 174.00 |
| 2001 | 1 | -2.14% | 22,993,882.94 | 175.10 |
| 2001 | 2 | -9.08% | 20,906,060.67 | 175.80 |
| 2001 | 3 | 0.45% | 20,999,864.83 | 176.20 |
| 2001 | 4 | 6.88% | 22,444,515.46 | 176.90 |
| 2001 | 5 | -2.39% | 21,908,394.03 | 177.70 |
| 2001 | 6 | -2.66% | 21,325,580.98 | 178.00 |
| 2001 | 7 | -2.05% | 20,889,293.87 | 177.50 |
| 2001 | 8 | -11.25% | 18,539,807.15 | 177.50 |
| 2001 | 9 | 3.18% | 19,130,120.45 | 178.30 |
| 2001 | 10 | 5.05% | 20,096,793.40 | 177.70 |
| 2001 | 11 | 1.47% | 20,391,422.32 | 177.40 |
| 2001 | 12 | -0.30% | 20,330,719.25 | 176.70 |
| 2002 | 1 | -3.35% | 19,649,077.13 | 177.10 |
| 2002 | 2 | 4.95% | 20,620,777.18 | 177.80 |
| 2002 | 3 | -3.51% | 19,896,073.96 | 178.80 |
| 2002 | 4 | -2.82% | 19,334,930.78 | 179.80 |
| 2002 | 5 | -5.92% | 18,190,117.56 | 179.80 |
| 2002 | 6 | -10.76% | 16,233,133.91 | 179.90 |
| 2002 | 7 | 1.14% | 16,417,995.35 | 180.10 |
| 2002 | 8 | -4.76% | 15,636,871.43 | 180.70 |
| 2002 | 9 | -1.37% | 15,423,108.72 | 181.00 |
| 2002 | 10 | 6.63% | 16,444,978.63 | 181.30 |
| 2002 | 11 | -1.04% | 16,274,763.02 | 181.30 |
| 2002 | 12 | -0.22% | 16,238,548.82 | 180.90 |
| 2003 | 1 | -6.41% | 15,196,872.54 | 181.70 |
| 2003 | 2 | 1.31% | 15,395,632.16 | 183.10 |
| 2003 | 3 | 5.29% | 16,209,423.54 | 184.20 |
| 2003 | 4 | 5.31% | 17,070,502.44 | 183.80 |
| 2003 | 5 | 5.70% | 18,044,235.46 | 183.50 |
| 2003 | 6 | 0.60% | 18,151,761.20 | 183.70 |
| 2003 | 7 | -0.17% | 18,121,570.45 | 183.90 |
| 2003 | 8 | 3.16% | 18,694,426.07 | 184.60 |
| 2003 | 9 | 2.03% | 19,073,517.06 | 185.20 |
| 2003 | 10 | 1.21% | 19,304,418.43 | 185.00 |
| 2003 | 11 | 3.06% | 19,895,869.19 | 184.50 |
| 2003 | 12 | 4.93% | 20,877,722.66 | 184.30 |
| 2004 | 1 | 1.09% | 21,104,592.97 | 185.20 |
| 2004 | 2 | -1.57% | 20,774,264.58 | 186.20 |
| 2004 | 3 | 0.97% | 20,975,387.92 | 187.40 |
| 2004 | 4 | -2.56% | 20,437,525.83 | 188.00 |
| 2004 | 5 | 2.86% | 21,021,564.28 | 189.10 |
| 2004 | 6 | -2.24% | 20,550,937.78 | 189.70 |
| 2004 | 7 | -1.39% | 20,265,779.10 | 189.40 |
| 2004 | 8 | 2.78% | 20,829,699.63 | 189.50 |
| 2004 | 9 | 0.10% | 20,851,069.93 | 189.90 |
| 2004 | 10 | 4.77% | 21,846,478.34 | 190.90 |
| 2004 | 11 | 2.73% | 22,442,329.52 | 191.00 |
| 2004 | 12 | -1.35% | 22,139,532.77 | 190.30 |
| 2005 | 1 | 1.68% | 22,511,744.08 | 190.70 |
| 2005 | 2 | -0.26% | 22,454,206.75 | 191.80 |
| 2005 | 3 | -2.41% | 21,913,303.22 | 193.30 |
| 2005 | 4 | 1.34% | 22,206,036.59 | 194.60 |
| 2005 | 5 | 2.18% | 22,690,283.07 | 194.40 |
| 2005 | 6 | 1.81% | 23,100,475.95 | 194.50 |
| 2005 | 7 | 0.31% | 23,172,091.64 | 195.40 |
| 2005 | 8 | 0.28% | 23,236,901.77 | 196.40 |
| 2005 | 9 | -2.62% | 22,627,114.43 | 198.80 |
| 2005 | 10 | 3.96% | 23,523,497.15 | 199.20 |
| 2005 | 11 | 2.14% | 24,027,871.74 | 197.60 |
| 2005 | 12 | 1.47% | 24,380,305.40 | 196.80 |
| 2006 | 1 | -0.02% | 24,376,248.57 | 198.30 |
| 2006 | 2 | 1.49% | 24,738,513.21 | 198.70 |
| 2006 | 3 | 0.80% | 24,936,008.54 | 199.80 |
| 2006 | 4 | -0.79% | 24,739,853.01 | 201.50 |
| 2006 | 5 | -2.71% | 24,070,443.80 | 202.50 |
| 2006 | 6 | 0.72% | 24,243,760.78 | 202.90 |
| 2006 | 7 | 2.29% | 24,799,369.41 | 203.50 |
| 2006 | 8 | 2.53% | 25,427,084.48 | 203.90 |
| 2006 | 9 | 3.62% | 26,346,505.76 | 202.90 |
| 2006 | 10 | 2.00% | 26,873,868.74 | 201.80 |
| 2006 | 11 | 2.15% | 27,451,190.65 | 201.50 |
| 2006 | 12 | 0.69% | 27,641,379.78 | 201.80 |
| 2007 | 1 | 1.60% | 28,082,549.48 | 202.42 |
| 2007 | 2 | -2.47% | 27,387,817.80 | 203.50 |
| 2007 | 3 | 4.18% | 28,532,699.77 | 205.35 |
| 2007 | 4 | 3.39% | 29,500,458.51 | 206.69 |
| 2007 | 5 | 0.34% | 29,602,206.03 | 207.95 |
| 2007 | 6 | 0.57% | 29,772,306.12 | 208.35 |
| 2007 | 7 | -4.20% | 28,521,539.44 | 208.30 |
| 2007 | 8 | 3.07% | 29,398,503.61 | 207.92 |
| 2007 | 9 | 2.99% | 30,277,998.90 | 208.49 |
| 2007 | 10 | -4.81% | 28,822,744.39 | 208.94 |
| 2007 | 11 | 1.24% | 29,179,633.62 | 210.18 |
| 2007 | 12 | -6.64% | 27,243,507.34 | 210.04 |
| 2008 | 1 | -1.56% | 26,817,428.23 | 211.08 |
| 2008 | 2 | -2.63% | 26,113,032.07 | 211.69 |
| 2008 | 3 | 4.24% | 27,221,217.59 | 213.53 |
| 2008 | 4 | 2.56% | 27,918,789.66 | 214.82 |
| 2008 | 5 | -4.25% | 26,733,195.35 | 216.63 |
| 2008 | 6 | -6.08% | 25,108,225.67 | 218.82 |
| 2008 | 7 | 2.11% | 25,638,143.54 | 219.96 |
| 2008 | 8 | -4.85% | 24,395,325.25 | 219.09 |
| 2008 | 9 | -20.19% | 19,469,034.50 | 218.78 |
| 2008 | 10 | -8.61% | 17,793,656.33 | 216.57 |
| 2008 | 11 | -0.35% | 17,731,161.94 | 212.43 |
| 2008 | 12 | -1.10% | 17,536,907.02 | 210.23 |
| 2009 | 1 | -6.70% | 16,361,494.69 | 211.14 |
| 2009 | 2 | -5.69% | 15,430,945.08 | 212.19 |
| 2009 | 3 | 12.32% | 17,332,307.58 | 212.71 |
| 2009 | 4 | 6.66% | 18,486,608.36 | 213.24 |
| 2009 | 5 | 2.87% | 19,016,963.46 | 213.86 |
| 2009 | 6 | 1.28% | 19,259,932.21 | 215.69 |
| 2009 | 7 | 8.12% | 20,823,982.19 | 215.35 |
| 2009 | 8 | 3.65% | 21,584,129.02 | 215.83 |
| 2009 | 9 | 2.40% | 22,102,818.99 | 215.97 |
| 2009 | 10 | 2.09% | 22,565,724.01 | 216.18 |
| 2009 | 11 | 2.23% | 23,068,004.90 | 216.33 |
| 2009 | 12 | 1.36% | 23,381,030.32 | 215.95 |
| 2010 | 1 | -2.90% | 22,703,337.39 | 216.69 |
| 2010 | 2 | 5.94% | 24,052,604.81 | 216.74 |
| 2010 | 3 | 4.09% | 25,035,858.51 | 217.63 |
| 2010 | 4 | -5.88% | 23,563,150.02 | 218.01 |
| 2010 | 5 | -3.54% | 22,728,174.70 | 218.18 |
| 2010 | 6 | -0.16% | 22,692,020.31 | 217.97 |
| 2010 | 7 | 0.86% | 22,887,991.22 | 218.01 |
| 2010 | 8 | 3.37% | 23,659,580.77 | 218.31 |
| 2010 | 9 | 4.58% | 24,742,583.07 | 218.44 |
| 2010 | 10 | 2.49% | 25,358,899.64 | 218.71 |
| 2010 | 11 | 3.71% | 26,300,662.26 | 218.80 |
| 2010 | 12 | 3.46% | 27,211,241.99 | 219.18 |
| 2011 | 1 | 3.15% | 28,068,631.20 | 220.22 |
| 2011 | 2 | -1.11% | 27,756,378.64 | 221.31 |
| 2011 | 3 | 2.22% | 28,372,843.06 | 223.47 |
| 2011 | 4 | 0.66% | 28,559,886.73 | 224.91 |
| 2011 | 5 | -3.66% | 27,513,852.27 | 225.96 |
| 2011 | 6 | 3.10% | 28,367,259.24 | 225.72 |
| 2011 | 7 | -10.40% | 25,416,880.76 | 225.92 |
| 2011 | 8 | -0.79% | 25,216,279.29 | 226.55 |
| 2011 | 9 | 3.02% | 25,977,535.05 | 226.89 |
| 2011 | 10 | 1.77% | 26,436,589.91 | 226.42 |
| 2011 | 11 | 1.55% | 26,847,613.06 | 226.23 |
| 2011 | 12 | 4.78% | 28,131,615.73 | 225.67 |
| 2012 | 1 | 4.16% | 29,302,624.80 | 226.67 |
| 2012 | 2 | 2.88% | 30,147,664.82 | 227.66 |
| 2012 | 3 | -0.04% | 30,136,145.30 | 229.39 |
| 2012 | 4 | -3.09% | 29,204,651.44 | 230.09 |
| 2012 | 5 | -1.15% | 28,868,093.80 | 229.82 |
| 2012 | 6 | 2.92% | 29,711,355.88 | 229.48 |
| 2012 | 7 | 3.39% | 30,717,887.72 | 229.10 |
| 2012 | 8 | 3.02% | 31,645,926.13 | 230.38 |
| 2012 | 9 | -0.22% | 31,577,211.82 | 231.41 |
| 2012 | 10 | -2.84% | 30,681,210.35 | 231.32 |
| 2012 | 11 | 2.18% | 31,348,690.87 | 230.22 |
| 2012 | 12 | 4.27% | 32,686,891.69 | 229.60 |
| 2013 | 1 | 2.33% | 33,449,484.01 | 230.28 |
| 2013 | 2 | 2.72% | 34,360,130.84 | 232.17 |
| 2013 | 3 | 1.45% | 34,859,655.47 | 232.77 |
| 2013 | 4 | 4.57% | 36,454,230.16 | 232.53 |
| 2013 | 5 | -1.12% | 36,046,753.87 | 232.95 |
| 2013 | 6 | 3.25% | 37,219,887.24 | 233.50 |
| 2013 | 7 | 0.25% | 37,313,877.98 | 233.60 |
| 2013 | 8 | 1.19% | 37,758,833.79 | 233.88 |
| 2013 | 9 | 2.12% | 38,558,395.94 | 234.15 |
| 2013 | 10 | 3.86% | 40,046,747.73 | 233.55 |
| 2013 | 11 | 1.52% | 40,656,123.73 | 233.07 |
| 2013 | 12 | 0.97% | 41,049,596.81 | 233.05 |
| 2014 | 1 | -0.13% | 40,996,217.60 | 233.92 |
| 2014 | 2 | 2.72% | 42,112,245.05 | 234.78 |
| 2014 | 3 | 0.20% | 42,197,195.55 | 236.29 |
| 2014 | 4 | 1.53% | 42,843,671.25 | 237.07 |
| 2014 | 5 | 3.20% | 44,213,091.15 | 237.90 |
| 2014 | 6 | 1.50% | 44,874,440.28 | 238.34 |
| 2014 | 7 | -0.43% | 44,682,848.49 | 238.25 |
| 2014 | 8 | 1.78% | 45,477,324.65 | 237.85 |
| 2014 | 9 | -2.65% | 44,273,729.19 | 238.03 |
| 2014 | 10 | 5.71% | 46,799,834.21 | 237.43 |
| 2014 | 11 | 0.63% | 47,096,492.60 | 236.15 |
| 2014 | 12 | -1.11% | 46,573,700.07 | 234.81 |
| 2015 | 1 | 2.83% | 47,890,523.97 | 233.71 |
| 2015 | 2 | 0.06% | 47,917,037.81 | 234.72 |
| 2015 | 3 | 0.88% | 48,337,945.71 | 236.12 |
| 2015 | 4 | 0.98% | 48,811,127.75 | 236.60 |
| 2015 | 5 | -0.44% | 48,598,555.26 | 237.81 |
| 2015 | 6 | -0.08% | 48,559,856.18 | 238.64 |
| 2015 | 7 | -2.42% | 47,382,572.25 | 238.65 |
| 2015 | 8 | -4.51% | 45,246,994.47 | 238.32 |
| 2015 | 9 | 4.32% | 47,200,361.21 | 237.95 |
| 2015 | 10 | 2.93% | 48,584,497.61 | 237.84 |
| 2015 | 11 | -1.10% | 48,048,625.26 | 237.34 |
| 2015 | 12 | -6.42% | 44,964,085.25 | 236.53 |
| 2016 | 1 | -0.55% | 44,716,823.67 | 236.92 |
| 2016 | 2 | 6.36% | 47,562,033.31 | 237.11 |
| 2016 | 3 | 2.83% | 48,908,638.26 | 238.13 |
| 2016 | 4 | -0.30% | 48,759,777.37 | 239.26 |
| 2016 | 5 | 1.07% | 49,279,795.63 | 240.23 |
| 2016 | 6 | 3.30% | 50,904,766.79 | 241.02 |
| 2016 | 7 | 1.20% | 51,515,245.76 | 240.63 |
| 2016 | 8 | -0.44% | 51,289,263.19 | 240.85 |
| 2016 | 9 | -0.51% | 51,029,749.30 | 241.43 |
| 2016 | 10 | 1.20% | 51,642,698.52 | 241.73 |
| 2016 | 11 | 3.95% | 53,680,500.73 | 241.35 |
| 2016 | 12 | 1.44% | 54,452,230.25 | 241.43 |
| 2017 | 1 | 2.58% | 55,855,162.18 | 242.84 |
| 2017 | 2 | 1.75% | 56,832,212.45 | 243.60 |
| 2017 | 3 | -0.15% | 56,744,688.51 | 243.80 |
| 2017 | 4 | 1.69% | 57,705,020.48 | 244.52 |
| 2017 | 5 | 1.78% | 58,730,108.59 | 244.73 |
| 2017 | 6 | 0.99% | 59,310,293.99 | 244.96 |
| 2017 | 7 | 0.25% | 59,457,268.02 | 244.79 |
| 2017 | 8 | 1.65% | 60,440,253.06 | 245.52 |
| 2017 | 9 | 2.73% | 62,093,172.58 | 246.82 |
| 2017 | 10 | 1.59% | 63,080,186.37 | 246.66 |
| 2017 | 11 | 2.88% | 64,899,094.89 | 246.67 |
| 2017 | 12 | 4.86% | 68,054,422.86 | 246.52 |
| 2018 | 1 | -2.89% | 66,089,905.07 | 247.87 |
| 2018 | 2 | 0.06% | 66,132,584.76 | 248.99 |
| 2018 | 3 | -1.66% | 65,032,157.14 | 249.55 |
| 2018 | 4 | 1.96% | 66,307,841.67 | 250.55 |
| 2018 | 5 | 2.11% | 67,708,906.31 | 251.59 |
| 2018 | 6 | 1.58% | 68,779,209.41 | 251.99 |
| 2018 | 7 | 2.45% | 70,464,853.66 | 252.01 |
| 2018 | 8 | 1.68% | 71,648,485.45 | 252.15 |
| 2018 | 9 | -3.85% | 68,890,745.16 | 252.44 |
| 2018 | 10 | -2.08% | 67,460,498.67 | 252.89 |
| 2018 | 11 | -5.56% | 63,708,000.23 | 252.04 |
| 2018 | 12 | 1.74% | 64,813,739.46 | 251.23 |
| 2019 | 1 | 5.83% | 68,591,669.18 | 251.71 |
| 2019 | 2 | 1.95% | 69,927,849.96 | 252.78 |
| 2019 | 3 | 3.72% | 72,531,417.38 | 254.20 |
| 2019 | 4 | -1.53% | 71,420,389.44 | 255.55 |
| 2019 | 5 | 1.40% | 72,423,666.77 | 256.09 |
| 2019 | 6 | 3.83% | 75,195,569.50 | 256.14 |
| 2019 | 7 | -3.13% | 72,838,629.03 | 256.57 |
| 2019 | 8 | 3.09% | 75,085,866.40 | 256.56 |
| 2019 | 9 | 0.01% | 75,093,226.88 | 256.76 |
| 2019 | 10 | 4.43% | 78,422,629.44 | 257.35 |
| 2019 | 11 | 2.47% | 80,359,135.02 | 257.21 |
| 2019 | 12 | 3.35% | 83,048,271.10 | 256.97 |
| 2020 | 1 | 0.12% | 83,149,653.79 | 257.97 |
| 2020 | 2 | -18.92% | 67,419,644.31 | 258.68 |
| 2020 | 3 | 4.32% | 70,331,238.74 | 258.12 |
| 2020 | 4 | 5.89% | 74,471,895.72 | 256.39 |
| 2020 | 5 | 6.51% | 79,318,729.16 | 256.39 |
| 2020 | 6 | 3.48% | 82,076,193.13 | 257.80 |
| 2020 | 7 | 5.89% | 86,913,357.56 | 259.10 |
| 2020 | 8 | -0.63% | 86,368,408.52 | 259.92 |
| 2020 | 9 | 1.73% | 87,859,128.43 | 260.28 |
| 2020 | 10 | 3.95% | 91,333,180.80 | 260.39 |
| 2020 | 11 | 4.26% | 95,224,047.78 | 260.23 |
| 2020 | 12 | 2.80% | 97,885,845.36 | 260.47 |
| 2021 | 1 | 2.49% | 100,324,699.15 | 261.58 |
| 2021 | 2 | 0.82% | 101,148,723.76 | 263.01 |
| 2021 | 3 | 6.02% | 107,239,380.11 | 264.88 |
| 2021 | 4 | 0.76% | 108,054,647.68 | 267.05 |
| 2021 | 5 | 1.81% | 110,010,893.66 | 269.20 |
| 2021 | 6 | 3.07% | 113,386,249.51 | 271.70 |
| 2021 | 7 | 2.19% | 115,863,922.59 | 273.00 |
| 2021 | 8 | -0.08% | 115,766,018.93 | 273.57 |
| 2021 | 9 | 0.45% | 116,289,485.16 | 274.31 |
| 2021 | 10 | 4.74% | 121,807,123.60 | 276.59 |
| 2021 | 11 | 0.27% | 122,130,404.13 | 277.95 |
| 2021 | 12 | -2.05% | 119,624,345.78 | 278.80 |
| 2022 | 1 | -2.90% | 116,152,165.57 | 281.15 |
| 2022 | 2 | -0.89% | 115,115,410.38 | 283.72 |
| 2022 | 3 | 0.12% | 115,251,594.02 | 287.50 |
| 2022 | 4 | -7.87% | 106,178,146.87 | 289.11 |
| 2022 | 5 | -3.37% | 102,600,596.46 | 292.30 |
| 2022 | 6 | 0.46% | 103,077,366.38 | 296.31 |
| 2022 | 7 | 6.45% | 109,723,170.17 | 296.28 |
| 2022 | 8 | -7.28% | 101,738,171.64 | 296.17 |
| 2022 | 9 | -3.09% | 98,593,266.57 | 296.81 |
| 2022 | 10 | 5.29% | 103,804,013.58 | 298.01 |
| 2022 | 11 | 0.01% | 103,815,263.29 | 297.71 |
| 2022 | 12 | 1.38% | 105,244,235.03 | 296.80 |
Click to show 498 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 $1,000,000.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $1,000,000.00 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 $90,530,088.10, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $105,244,235.03).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1980 | 1 | 41666.66 | 43,319.80 |
| 1980 | 2 | 41666.66 | 77,353.34 |
| 1980 | 3 | 41666.66 | 117,444.58 |
| 1980 | 4 | 41666.66 | 166,927.20 |
| 1980 | 5 | 41666.66 | 222,719.00 |
| 1980 | 6 | 41666.66 | 277,344.22 |
| 1980 | 7 | 41666.66 | 330,017.79 |
| 1980 | 8 | 41666.66 | 382,055.26 |
| 1980 | 9 | 41666.66 | 437,643.09 |
| 1980 | 10 | 41666.66 | 501,265.76 |
| 1980 | 11 | 41666.66 | 536,017.25 |
| 1980 | 12 | 41666.66 | 577,581.39 |
| 1981 | 1 | 41666.66 | 600,074.19 |
| 1981 | 2 | 41666.66 | 668,161.36 |
| 1981 | 3 | 41666.66 | 718,848.03 |
| 1981 | 4 | 41666.66 | 748,051.92 |
| 1981 | 5 | 41666.66 | 796,323.62 |
| 1981 | 6 | 41666.66 | 820,926.58 |
| 1981 | 7 | 41666.66 | 869,343.08 |
| 1981 | 8 | 41666.66 | 835,197.97 |
| 1981 | 9 | 41666.66 | 891,818.88 |
| 1981 | 10 | 41666.66 | 961,708.29 |
| 1981 | 11 | 41666.66 | 1,015,022.16 |
| 1981 | 12 | 41666.82 | 1,005,738.43 |
| 1982 | 1 | - | 986,489.64 |
| 1982 | 2 | - | 959,415.02 |
| 1982 | 3 | - | 1,011,888.44 |
| 1982 | 4 | - | 1,017,652.64 |
| 1982 | 5 | - | 964,016.05 |
| 1982 | 6 | - | 966,366.77 |
| 1982 | 7 | - | 974,039.50 |
| 1982 | 8 | - | 1,091,862.97 |
| 1982 | 9 | - | 1,188,835.68 |
| 1982 | 10 | - | 1,242,332.29 |
| 1982 | 11 | - | 1,259,172.10 |
| 1982 | 12 | - | 1,308,604.09 |
| 1983 | 1 | - | 1,336,477.54 |
| 1983 | 2 | - | 1,388,140.61 |
| 1983 | 3 | - | 1,446,406.27 |
| 1983 | 4 | - | 1,510,395.46 |
| 1983 | 5 | - | 1,536,880.30 |
| 1983 | 6 | - | 1,547,763.46 |
| 1983 | 7 | - | 1,510,505.92 |
| 1983 | 8 | - | 1,560,561.58 |
| 1983 | 9 | - | 1,570,672.87 |
| 1983 | 10 | - | 1,552,744.85 |
| 1983 | 11 | - | 1,550,755.35 |
| 1983 | 12 | - | 1,575,194.21 |
| 1984 | 1 | - | 1,494,667.46 |
| 1984 | 2 | - | 1,501,279.28 |
| 1984 | 3 | - | 1,508,893.77 |
| 1984 | 4 | - | 1,505,082.71 |
| 1984 | 5 | - | 1,477,264.20 |
| 1984 | 6 | - | 1,463,844.03 |
| 1984 | 7 | - | 1,598,613.70 |
| 1984 | 8 | - | 1,621,105.69 |
| 1984 | 9 | - | 1,614,420.21 |
| 1984 | 10 | - | 1,635,180.07 |
| 1984 | 11 | - | 1,623,610.25 |
| 1984 | 12 | - | 1,699,880.45 |
| 1985 | 1 | - | 1,798,258.66 |
| 1985 | 2 | - | 1,789,657.27 |
| 1985 | 3 | - | 1,807,996.10 |
| 1985 | 4 | - | 1,857,456.26 |
| 1985 | 5 | - | 1,904,096.37 |
| 1985 | 6 | - | 1,946,885.62 |
| 1985 | 7 | - | 1,910,959.54 |
| 1985 | 8 | - | 1,874,938.06 |
| 1985 | 9 | - | 1,902,978.96 |
| 1985 | 10 | - | 2,025,160.02 |
| 1985 | 11 | - | 2,132,382.42 |
| 1985 | 12 | - | 2,148,412.14 |
| 1986 | 1 | - | 2,270,812.47 |
| 1986 | 2 | - | 2,411,211.61 |
| 1986 | 3 | - | 2,477,313.20 |
| 1986 | 4 | - | 2,489,497.38 |
| 1986 | 5 | - | 2,567,499.31 |
| 1986 | 6 | - | 2,521,183.84 |
| 1986 | 7 | - | 2,578,688.35 |
| 1986 | 8 | - | 2,515,349.69 |
| 1986 | 9 | - | 2,513,089.08 |
| 1986 | 10 | - | 2,601,875.25 |
| 1986 | 11 | - | 2,646,339.72 |
| 1986 | 12 | - | 2,822,939.79 |
| 1987 | 1 | - | 3,005,354.71 |
| 1987 | 2 | - | 3,136,881.33 |
| 1987 | 3 | - | 3,110,016.75 |
| 1987 | 4 | - | 3,115,391.82 |
| 1987 | 5 | - | 3,255,535.96 |
| 1987 | 6 | - | 3,357,176.95 |
| 1987 | 7 | - | 3,573,849.53 |
| 1987 | 8 | - | 3,465,546.67 |
| 1987 | 9 | - | 3,054,744.74 |
| 1987 | 10 | - | 2,678,906.84 |
| 1987 | 11 | - | 2,643,151.63 |
| 1987 | 12 | - | 2,755,394.18 |
| 1988 | 1 | - | 2,847,109.27 |
| 1988 | 2 | - | 2,939,129.52 |
| 1988 | 3 | - | 2,913,088.12 |
| 1988 | 4 | - | 2,849,341.97 |
| 1988 | 5 | - | 3,020,251.19 |
| 1988 | 6 | - | 3,010,981.43 |
| 1988 | 7 | - | 2,959,238.15 |
| 1988 | 8 | - | 3,016,267.67 |
| 1988 | 9 | - | 3,130,934.61 |
| 1988 | 10 | - | 3,067,681.98 |
| 1988 | 11 | - | 3,139,034.83 |
| 1988 | 12 | - | 3,249,298.39 |
| 1989 | 1 | - | 3,356,520.43 |
| 1989 | 2 | - | 3,351,094.31 |
| 1989 | 3 | - | 3,470,554.09 |
| 1989 | 4 | - | 3,613,377.88 |
| 1989 | 5 | - | 3,735,966.14 |
| 1989 | 6 | - | 3,840,579.74 |
| 1989 | 7 | - | 4,020,731.83 |
| 1989 | 8 | - | 4,039,047.76 |
| 1989 | 9 | - | 4,050,609.77 |
| 1989 | 10 | - | 3,977,149.91 |
| 1989 | 11 | - | 4,085,992.83 |
| 1989 | 12 | - | 3,995,642.30 |
| 1990 | 1 | - | 3,894,665.07 |
| 1990 | 2 | - | 4,000,100.16 |
| 1990 | 3 | - | 4,007,939.79 |
| 1990 | 4 | - | 4,162,282.54 |
| 1990 | 5 | - | 4,294,225.12 |
| 1990 | 6 | - | 4,301,513.43 |
| 1990 | 7 | - | 3,963,361.70 |
| 1990 | 8 | - | 3,791,309.76 |
| 1990 | 9 | - | 3,703,511.79 |
| 1990 | 10 | - | 3,814,017.72 |
| 1990 | 11 | - | 3,988,951.66 |
| 1990 | 12 | - | 3,961,620.52 |
| 1991 | 1 | - | 4,421,436.90 |
| 1991 | 2 | - | 4,556,052.86 |
| 1991 | 3 | - | 4,658,966.28 |
| 1991 | 4 | - | 4,650,632.38 |
| 1991 | 5 | - | 4,666,770.59 |
| 1991 | 6 | - | 4,703,194.07 |
| 1991 | 7 | - | 4,829,189.51 |
| 1991 | 8 | - | 4,814,552.19 |
| 1991 | 9 | - | 4,823,297.63 |
| 1991 | 10 | - | 4,824,059.48 |
| 1991 | 11 | - | 4,869,171.18 |
| 1991 | 12 | - | 5,227,446.06 |
| 1992 | 1 | - | 5,196,037.16 |
| 1992 | 2 | - | 5,143,433.62 |
| 1992 | 3 | - | 5,157,027.90 |
| 1992 | 4 | - | 5,263,693.31 |
| 1992 | 5 | - | 5,193,732.37 |
| 1992 | 6 | - | 5,293,043.46 |
| 1992 | 7 | - | 5,342,889.10 |
| 1992 | 8 | - | 5,363,095.23 |
| 1992 | 9 | - | 5,299,700.46 |
| 1992 | 10 | - | 5,445,808.06 |
| 1992 | 11 | - | 5,623,951.33 |
| 1992 | 12 | - | 5,631,987.57 |
| 1993 | 1 | - | 5,729,096.97 |
| 1993 | 2 | - | 5,852,281.31 |
| 1993 | 3 | - | 5,773,758.61 |
| 1993 | 4 | - | 5,815,602.44 |
| 1993 | 5 | - | 5,865,918.01 |
| 1993 | 6 | - | 5,869,496.44 |
| 1993 | 7 | - | 5,972,944.31 |
| 1993 | 8 | - | 6,053,876.02 |
| 1993 | 9 | - | 6,129,059.53 |
| 1993 | 10 | - | 6,129,521.95 |
| 1993 | 11 | - | 6,183,901.83 |
| 1993 | 12 | - | 6,291,246.95 |
| 1994 | 1 | - | 6,286,484.41 |
| 1994 | 2 | - | 6,196,976.30 |
| 1994 | 3 | - | 5,989,602.08 |
| 1994 | 4 | - | 6,052,986.56 |
| 1994 | 5 | - | 6,120,059.29 |
| 1994 | 6 | - | 6,088,303.82 |
| 1994 | 7 | - | 6,275,950.09 |
| 1994 | 8 | - | 6,327,253.79 |
| 1994 | 9 | - | 6,299,160.36 |
| 1994 | 10 | - | 6,275,860.79 |
| 1994 | 11 | - | 6,211,488.89 |
| 1994 | 12 | - | 6,363,743.31 |
| 1995 | 1 | - | 6,606,780.62 |
| 1995 | 2 | - | 6,775,793.31 |
| 1995 | 3 | - | 6,993,672.54 |
| 1995 | 4 | - | 7,227,803.92 |
| 1995 | 5 | - | 7,457,534.02 |
| 1995 | 6 | - | 7,722,088.55 |
| 1995 | 7 | - | 7,761,712.45 |
| 1995 | 8 | - | 8,050,266.87 |
| 1995 | 9 | - | 8,123,730.98 |
| 1995 | 10 | - | 8,315,319.87 |
| 1995 | 11 | - | 8,597,137.53 |
| 1995 | 12 | - | 8,611,114.74 |
| 1996 | 1 | - | 9,119,548.84 |
| 1996 | 2 | - | 9,101,246.17 |
| 1996 | 3 | - | 9,119,179.45 |
| 1996 | 4 | - | 9,333,920.22 |
| 1996 | 5 | - | 9,453,263.09 |
| 1996 | 6 | - | 9,124,614.31 |
| 1996 | 7 | - | 9,405,264.87 |
| 1996 | 8 | - | 9,595,601.75 |
| 1996 | 9 | - | 9,990,892.35 |
| 1996 | 10 | - | 10,495,640.41 |
| 1996 | 11 | - | 10,621,402.05 |
| 1996 | 12 | - | 10,967,398.48 |
| 1997 | 1 | - | 11,445,704.68 |
| 1997 | 2 | - | 11,374,319.49 |
| 1997 | 3 | - | 10,986,995.89 |
| 1997 | 4 | - | 11,999,758.58 |
| 1997 | 5 | - | 12,640,164.74 |
| 1997 | 6 | - | 13,365,195.05 |
| 1997 | 7 | - | 13,411,677.75 |
| 1997 | 8 | - | 13,571,546.03 |
| 1997 | 9 | - | 13,794,848.95 |
| 1997 | 10 | - | 13,635,926.32 |
| 1997 | 11 | - | 13,995,180.69 |
| 1997 | 12 | - | 14,028,361.63 |
| 1998 | 1 | - | 14,926,479.56 |
| 1998 | 2 | - | 15,719,504.38 |
| 1998 | 3 | - | 16,254,859.66 |
| 1998 | 4 | - | 16,218,797.02 |
| 1998 | 5 | - | 16,237,684.95 |
| 1998 | 6 | - | 16,963,130.53 |
| 1998 | 7 | - | 15,780,629.48 |
| 1998 | 8 | - | 15,007,623.22 |
| 1998 | 9 | - | 15,201,350.13 |
| 1998 | 10 | - | 16,869,604.70 |
| 1998 | 11 | - | 17,561,950.98 |
| 1998 | 12 | - | 18,448,423.31 |
| 1999 | 1 | - | 18,436,116.35 |
| 1999 | 2 | - | 18,975,098.03 |
| 1999 | 3 | - | 19,781,543.89 |
| 1999 | 4 | - | 19,761,993.44 |
| 1999 | 5 | - | 19,641,096.06 |
| 1999 | 6 | - | 20,529,342.49 |
| 1999 | 7 | - | 19,754,485.93 |
| 1999 | 8 | - | 19,636,350.82 |
| 1999 | 9 | - | 19,386,483.91 |
| 1999 | 10 | - | 20,764,077.69 |
| 1999 | 11 | - | 21,347,284.72 |
| 1999 | 12 | - | 21,321,895.83 |
| 2000 | 1 | - | 20,793,522.77 |
| 2000 | 2 | - | 21,612,985.86 |
| 2000 | 3 | - | 21,920,898.58 |
| 2000 | 4 | - | 21,298,609.43 |
| 2000 | 5 | - | 21,972,386.71 |
| 2000 | 6 | - | 22,159,227.25 |
| 2000 | 7 | - | 22,367,459.97 |
| 2000 | 8 | - | 22,125,969.55 |
| 2000 | 9 | - | 20,972,270.66 |
| 2000 | 10 | - | 20,810,246.43 |
| 2000 | 11 | - | 20,119,330.90 |
| 2000 | 12 | - | 20,210,875.40 |
| 2001 | 1 | - | 19,779,118.99 |
| 2001 | 2 | - | 17,983,194.18 |
| 2001 | 3 | - | 18,063,883.62 |
| 2001 | 4 | - | 19,306,558.33 |
| 2001 | 5 | - | 18,845,391.78 |
| 2001 | 6 | - | 18,344,061.54 |
| 2001 | 7 | - | 17,968,771.53 |
| 2001 | 8 | - | 15,947,765.44 |
| 2001 | 9 | - | 16,455,547.32 |
| 2001 | 10 | - | 17,287,070.18 |
| 2001 | 11 | - | 17,540,507.17 |
| 2001 | 12 | - | 17,488,290.96 |
| 2002 | 1 | - | 16,901,948.91 |
| 2002 | 2 | - | 17,737,796.04 |
| 2002 | 3 | - | 17,114,413.23 |
| 2002 | 4 | - | 16,631,723.22 |
| 2002 | 5 | - | 15,646,965.79 |
| 2002 | 6 | - | 13,963,587.11 |
| 2002 | 7 | - | 14,122,603.15 |
| 2002 | 8 | - | 13,450,687.80 |
| 2002 | 9 | - | 13,266,811.16 |
| 2002 | 10 | - | 14,145,813.91 |
| 2002 | 11 | - | 13,999,396.07 |
| 2002 | 12 | - | 13,968,244.95 |
| 2003 | 1 | - | 13,072,204.95 |
| 2003 | 2 | - | 13,243,176.08 |
| 2003 | 3 | - | 13,943,191.67 |
| 2003 | 4 | - | 14,683,883.53 |
| 2003 | 5 | - | 15,521,479.40 |
| 2003 | 6 | - | 15,613,972.02 |
| 2003 | 7 | - | 15,588,002.22 |
| 2003 | 8 | - | 16,080,767.17 |
| 2003 | 9 | - | 16,406,857.63 |
| 2003 | 10 | - | 16,605,476.78 |
| 2003 | 11 | - | 17,114,237.09 |
| 2003 | 12 | - | 17,958,818.08 |
| 2004 | 1 | - | 18,153,969.77 |
| 2004 | 2 | - | 17,869,824.43 |
| 2004 | 3 | - | 18,042,828.82 |
| 2004 | 4 | - | 17,580,164.97 |
| 2004 | 5 | - | 18,082,549.28 |
| 2004 | 6 | - | 17,677,720.85 |
| 2004 | 7 | - | 17,432,430.07 |
| 2004 | 8 | - | 17,917,509.14 |
| 2004 | 9 | - | 17,935,891.66 |
| 2004 | 10 | - | 18,792,132.49 |
| 2004 | 11 | - | 19,304,678.00 |
| 2004 | 12 | - | 19,044,215.12 |
| 2005 | 1 | - | 19,364,387.75 |
| 2005 | 2 | - | 19,314,894.68 |
| 2005 | 3 | - | 18,849,614.62 |
| 2005 | 4 | - | 19,101,421.07 |
| 2005 | 5 | - | 19,517,965.28 |
| 2005 | 6 | - | 19,870,809.29 |
| 2005 | 7 | - | 19,932,412.42 |
| 2005 | 8 | - | 19,988,161.48 |
| 2005 | 9 | - | 19,463,628.22 |
| 2005 | 10 | - | 20,234,688.09 |
| 2005 | 11 | - | 20,668,546.31 |
| 2005 | 12 | - | 20,971,706.38 |
| 2006 | 1 | - | 20,968,216.74 |
| 2006 | 2 | - | 21,279,833.33 |
| 2006 | 3 | - | 21,449,716.93 |
| 2006 | 4 | - | 21,280,985.81 |
| 2006 | 5 | - | 20,705,166.39 |
| 2006 | 6 | - | 20,854,252.01 |
| 2006 | 7 | - | 21,332,181.25 |
| 2006 | 8 | - | 21,872,135.78 |
| 2006 | 9 | - | 22,663,013.20 |
| 2006 | 10 | - | 23,116,645.81 |
| 2006 | 11 | - | 23,613,252.62 |
| 2006 | 12 | - | 23,776,851.49 |
| 2007 | 1 | - | 24,156,341.46 |
| 2007 | 2 | - | 23,558,739.90 |
| 2007 | 3 | - | 24,543,556.45 |
| 2007 | 4 | - | 25,376,013.30 |
| 2007 | 5 | - | 25,463,535.55 |
| 2007 | 6 | - | 25,609,854.03 |
| 2007 | 7 | - | 24,533,956.45 |
| 2007 | 8 | - | 25,288,312.67 |
| 2007 | 9 | - | 26,044,846.13 |
| 2007 | 10 | - | 24,793,050.07 |
| 2007 | 11 | - | 25,100,042.79 |
| 2007 | 12 | - | 23,434,605.41 |
| 2008 | 1 | - | 23,068,096.22 |
| 2008 | 2 | - | 22,462,181.35 |
| 2008 | 3 | - | 23,415,431.98 |
| 2008 | 4 | - | 24,015,476.83 |
| 2008 | 5 | - | 22,995,639.90 |
| 2008 | 6 | - | 21,597,856.46 |
| 2008 | 7 | - | 22,053,686.77 |
| 2008 | 8 | - | 20,984,626.32 |
| 2008 | 9 | - | 16,747,077.95 |
| 2008 | 10 | - | 15,305,933.62 |
| 2008 | 11 | - | 15,252,176.54 |
| 2008 | 12 | - | 15,085,080.31 |
| 2009 | 1 | - | 14,074,001.83 |
| 2009 | 2 | - | 13,273,551.92 |
| 2009 | 3 | - | 14,909,085.82 |
| 2009 | 4 | - | 15,902,004.35 |
| 2009 | 5 | - | 16,358,210.76 |
| 2009 | 6 | - | 16,567,210.16 |
| 2009 | 7 | - | 17,912,591.05 |
| 2009 | 8 | - | 18,566,462.11 |
| 2009 | 9 | - | 19,012,634.28 |
| 2009 | 10 | - | 19,410,820.77 |
| 2009 | 11 | - | 19,842,878.00 |
| 2009 | 12 | - | 20,112,139.48 |
| 2010 | 1 | - | 19,529,194.48 |
| 2010 | 2 | - | 20,689,821.46 |
| 2010 | 3 | - | 21,535,606.93 |
| 2010 | 4 | - | 20,268,797.11 |
| 2010 | 5 | - | 19,550,559.30 |
| 2010 | 6 | - | 19,519,459.63 |
| 2010 | 7 | - | 19,688,031.95 |
| 2010 | 8 | - | 20,351,745.93 |
| 2010 | 9 | - | 21,283,334.18 |
| 2010 | 10 | - | 21,813,483.83 |
| 2010 | 11 | - | 22,623,579.06 |
| 2010 | 12 | - | 23,406,851.07 |
| 2011 | 1 | - | 24,144,369.10 |
| 2011 | 2 | - | 23,875,772.41 |
| 2011 | 3 | - | 24,406,049.24 |
| 2011 | 4 | - | 24,566,942.42 |
| 2011 | 5 | - | 23,667,153.54 |
| 2011 | 6 | - | 24,401,246.09 |
| 2011 | 7 | - | 21,863,358.63 |
| 2011 | 8 | - | 21,690,803.16 |
| 2011 | 9 | - | 22,345,628.11 |
| 2011 | 10 | - | 22,740,502.72 |
| 2011 | 11 | - | 23,094,060.93 |
| 2011 | 12 | - | 24,198,547.78 |
| 2012 | 1 | - | 25,205,838.63 |
| 2012 | 2 | - | 25,932,734.00 |
| 2012 | 3 | - | 25,922,825.02 |
| 2012 | 4 | - | 25,121,562.88 |
| 2012 | 5 | - | 24,832,059.20 |
| 2012 | 6 | - | 25,557,425.21 |
| 2012 | 7 | - | 26,423,234.31 |
| 2012 | 8 | - | 27,221,524.10 |
| 2012 | 9 | - | 27,162,416.71 |
| 2012 | 10 | - | 26,391,684.78 |
| 2012 | 11 | - | 26,965,845.16 |
| 2012 | 12 | - | 28,116,952.76 |
| 2013 | 1 | - | 28,772,927.41 |
| 2013 | 2 | - | 29,556,257.13 |
| 2013 | 3 | - | 29,985,943.46 |
| 2013 | 4 | - | 31,357,581.41 |
| 2013 | 5 | - | 31,007,074.19 |
| 2013 | 6 | - | 32,016,192.34 |
| 2013 | 7 | - | 32,097,042.28 |
| 2013 | 8 | - | 32,479,789.02 |
| 2013 | 9 | - | 33,167,564.76 |
| 2013 | 10 | - | 34,447,830.79 |
| 2013 | 11 | - | 34,972,010.22 |
| 2013 | 12 | - | 35,310,472.02 |
| 2014 | 1 | - | 35,264,555.73 |
| 2014 | 2 | - | 36,224,551.91 |
| 2014 | 3 | - | 36,297,625.51 |
| 2014 | 4 | - | 36,853,717.75 |
| 2014 | 5 | - | 38,031,679.70 |
| 2014 | 6 | - | 38,600,565.92 |
| 2014 | 7 | - | 38,435,760.49 |
| 2014 | 8 | - | 39,119,161.31 |
| 2014 | 9 | - | 38,083,839.97 |
| 2014 | 10 | - | 40,256,771.43 |
| 2014 | 11 | - | 40,511,954.15 |
| 2014 | 12 | - | 40,062,253.00 |
| 2015 | 1 | - | 41,194,972.37 |
| 2015 | 2 | - | 41,217,779.32 |
| 2015 | 3 | - | 41,579,840.29 |
| 2015 | 4 | - | 41,986,866.97 |
| 2015 | 5 | - | 41,804,014.14 |
| 2015 | 6 | - | 41,770,725.56 |
| 2015 | 7 | - | 40,758,037.14 |
| 2015 | 8 | - | 38,921,033.48 |
| 2015 | 9 | - | 40,601,300.94 |
| 2015 | 10 | - | 41,791,921.88 |
| 2015 | 11 | - | 41,330,969.59 |
| 2015 | 12 | - | 38,677,677.67 |
| 2016 | 1 | - | 38,464,985.61 |
| 2016 | 2 | - | 40,912,407.84 |
| 2016 | 3 | - | 42,070,744.58 |
| 2016 | 4 | - | 41,942,695.86 |
| 2016 | 5 | - | 42,390,010.61 |
| 2016 | 6 | - | 43,787,795.32 |
| 2016 | 7 | - | 44,312,923.52 |
| 2016 | 8 | - | 44,118,535.46 |
| 2016 | 9 | - | 43,895,304.09 |
| 2016 | 10 | - | 44,422,557.17 |
| 2016 | 11 | - | 46,175,455.20 |
| 2016 | 12 | - | 46,839,289.59 |
| 2017 | 1 | - | 48,046,078.26 |
| 2017 | 2 | - | 48,886,527.59 |
| 2017 | 3 | - | 48,811,240.33 |
| 2017 | 4 | - | 49,637,308.75 |
| 2017 | 5 | - | 50,519,079.77 |
| 2017 | 6 | - | 51,018,149.72 |
| 2017 | 7 | - | 51,144,575.38 |
| 2017 | 8 | - | 51,990,129.75 |
| 2017 | 9 | - | 53,411,955.37 |
| 2017 | 10 | - | 54,260,975.22 |
| 2017 | 11 | - | 55,825,583.00 |
| 2017 | 12 | - | 58,539,766.05 |
| 2018 | 1 | - | 56,849,906.57 |
| 2018 | 2 | - | 56,886,619.24 |
| 2018 | 3 | - | 55,940,041.88 |
| 2018 | 4 | - | 57,037,373.56 |
| 2018 | 5 | - | 58,242,556.01 |
| 2018 | 6 | - | 59,163,220.54 |
| 2018 | 7 | - | 60,613,195.66 |
| 2018 | 8 | - | 61,631,344.44 |
| 2018 | 9 | - | 59,259,162.53 |
| 2018 | 10 | - | 58,028,878.13 |
| 2018 | 11 | - | 54,801,014.72 |
| 2018 | 12 | - | 55,752,161.08 |
| 2019 | 1 | - | 59,001,900.22 |
| 2019 | 2 | - | 60,151,270.19 |
| 2019 | 3 | - | 62,390,834.08 |
| 2019 | 4 | - | 61,435,138.43 |
| 2019 | 5 | - | 62,298,148.03 |
| 2019 | 6 | - | 64,682,512.35 |
| 2019 | 7 | - | 62,655,094.61 |
| 2019 | 8 | - | 64,588,146.79 |
| 2019 | 9 | - | 64,594,478.20 |
| 2019 | 10 | - | 67,458,398.56 |
| 2019 | 11 | - | 69,124,162.20 |
| 2019 | 12 | - | 71,437,331.44 |
| 2020 | 1 | - | 71,524,539.86 |
| 2020 | 2 | - | 57,993,735.60 |
| 2020 | 3 | - | 60,498,261.38 |
| 2020 | 4 | - | 64,060,015.06 |
| 2020 | 5 | - | 68,229,214.99 |
| 2020 | 6 | - | 70,601,159.23 |
| 2020 | 7 | - | 74,762,041.98 |
| 2020 | 8 | - | 74,293,282.00 |
| 2020 | 9 | - | 75,575,585.07 |
| 2020 | 10 | - | 78,563,931.81 |
| 2020 | 11 | - | 81,910,818.51 |
| 2020 | 12 | - | 84,200,471.43 |
| 2021 | 1 | - | 86,298,350.22 |
| 2021 | 2 | - | 87,007,168.33 |
| 2021 | 3 | - | 92,246,292.89 |
| 2021 | 4 | - | 92,947,578.29 |
| 2021 | 5 | - | 94,630,322.43 |
| 2021 | 6 | - | 97,533,771.37 |
| 2021 | 7 | - | 99,665,042.14 |
| 2021 | 8 | - | 99,580,826.35 |
| 2021 | 9 | - | 100,031,107.01 |
| 2021 | 10 | - | 104,777,327.02 |
| 2021 | 11 | - | 105,055,409.86 |
| 2021 | 12 | - | 102,899,722.34 |
| 2022 | 1 | - | 99,912,986.01 |
| 2022 | 2 | - | 99,021,179.08 |
| 2022 | 3 | - | 99,138,322.95 |
| 2022 | 4 | - | 91,333,430.17 |
| 2022 | 5 | - | 88,256,055.39 |
| 2022 | 6 | - | 88,666,168.34 |
| 2022 | 7 | - | 94,382,825.43 |
| 2022 | 8 | - | 87,514,205.78 |
| 2022 | 9 | - | 84,808,988.41 |
| 2022 | 10 | - | 89,291,223.33 |
| 2022 | 11 | - | 89,300,900.23 |
| 2022 | 12 | - | 90,530,088.10 |
Click to show 498 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 | $4,573.82 |
| Change in price | +4,024.27% +9.26% / yr |
| Change incl. dividends | +10,424.42% +11.44% / yr |
| Change incl. dividends, inflation-adjusted | +2,863.25% +8.20% / yr |
| Final amount, nominal ($1000000 base) | $105,244,235.03 |
| Final amount, inflation-adjusted ($1000000 base) | $29,632,503.37 |