Stock market returns between 1980 and 2023
If you invested $800 in the S&P 500 at the beginning of 1980, you would have about $104,004.11 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 12,900.51%, or 11.70% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 3,415.70% cumulatively, or 8.43% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $89,462.83.
The graph below shows the performance of $800 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 $800 is $103,204.11, or 12,900.51%. This means by 2023 you would have $104,004.11 in your pocket.
However, it's important to take into account the effect of inflation when considering an investment and especially a long-term investment. You can convert S&P returns to their real (inflation-adjusted) value using an inflation calculation based on the U.S. Bureau of Labor Statistics Consumer Price Index (CPI).
In the case of the returns described above, the CPI in 1980 was 82.400 and the CPI in 2023 was 304.702.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 43 years.
Adjusted for inflation, the $104,004.11 nominal end value of the original $800 investment would have a real return of roughly $27,325.62 in 1980 dollars. This means the inflation-adjusted return is 3,415.70% as opposed to the original 12,900.51%.
For more information on inflation, see our U.S. inflation calculator for 1980.
Full monthly data
The table below shows the full dataset pertaining to a $800 investment, including gains and losses over the 528-month period between 1980 and 2023.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1980 | 1 | 4.40% | 835.17 | 77.80 |
| 1980 | 2 | -8.78% | 761.86 | 78.90 |
| 1980 | 3 | -1.16% | 753.00 | 80.10 |
| 1980 | 4 | 5.04% | 790.93 | 81.00 |
| 1980 | 5 | 6.86% | 845.21 | 81.80 |
| 1980 | 6 | 4.97% | 887.21 | 82.70 |
| 1980 | 7 | 3.50% | 918.30 | 82.70 |
| 1980 | 8 | 2.84% | 944.34 | 83.30 |
| 1980 | 9 | 3.32% | 975.74 | 84.00 |
| 1980 | 10 | 4.61% | 1,020.77 | 84.80 |
| 1980 | 11 | -1.24% | 1,008.06 | 85.50 |
| 1980 | 12 | 0.01% | 1,008.16 | 86.30 |
| 1981 | 1 | -3.07% | 977.21 | 87.00 |
| 1981 | 2 | 4.14% | 1,017.70 | 87.90 |
| 1981 | 3 | 1.29% | 1,030.86 | 88.50 |
| 1981 | 4 | -1.62% | 1,014.19 | 89.10 |
| 1981 | 5 | 0.86% | 1,022.89 | 89.80 |
| 1981 | 6 | -2.02% | 1,002.27 | 90.60 |
| 1981 | 7 | 0.80% | 1,010.31 | 91.60 |
| 1981 | 8 | -8.30% | 926.43 | 92.30 |
| 1981 | 9 | 1.73% | 942.43 | 93.20 |
| 1981 | 10 | 3.04% | 971.11 | 93.40 |
| 1981 | 11 | 1.18% | 982.57 | 93.70 |
| 1981 | 12 | -4.80% | 935.36 | 94.00 |
| 1982 | 1 | -1.91% | 917.46 | 94.30 |
| 1982 | 2 | -2.74% | 892.28 | 94.60 |
| 1982 | 3 | 5.47% | 941.08 | 94.50 |
| 1982 | 4 | 0.57% | 946.44 | 94.90 |
| 1982 | 5 | -5.27% | 896.56 | 95.80 |
| 1982 | 6 | 0.24% | 898.75 | 97.00 |
| 1982 | 7 | 0.79% | 905.88 | 97.50 |
| 1982 | 8 | 12.10% | 1,015.46 | 97.70 |
| 1982 | 9 | 8.88% | 1,105.65 | 97.90 |
| 1982 | 10 | 4.50% | 1,155.40 | 98.20 |
| 1982 | 11 | 1.36% | 1,171.06 | 98.00 |
| 1982 | 12 | 3.93% | 1,217.04 | 97.60 |
| 1983 | 1 | 2.13% | 1,242.96 | 97.80 |
| 1983 | 2 | 3.87% | 1,291.01 | 97.90 |
| 1983 | 3 | 4.20% | 1,345.20 | 97.90 |
| 1983 | 4 | 4.42% | 1,404.71 | 98.60 |
| 1983 | 5 | 1.75% | 1,429.34 | 99.20 |
| 1983 | 6 | 0.71% | 1,439.46 | 99.50 |
| 1983 | 7 | -2.41% | 1,404.81 | 99.90 |
| 1983 | 8 | 3.31% | 1,451.36 | 100.20 |
| 1983 | 9 | 0.65% | 1,460.77 | 100.70 |
| 1983 | 10 | -1.14% | 1,444.09 | 101.00 |
| 1983 | 11 | -0.13% | 1,442.24 | 101.20 |
| 1983 | 12 | 1.58% | 1,464.97 | 101.30 |
| 1984 | 1 | -5.11% | 1,390.08 | 101.90 |
| 1984 | 2 | 0.44% | 1,396.23 | 102.40 |
| 1984 | 3 | 0.51% | 1,403.31 | 102.60 |
| 1984 | 4 | -0.25% | 1,399.77 | 103.10 |
| 1984 | 5 | -1.85% | 1,373.89 | 103.40 |
| 1984 | 6 | -0.91% | 1,361.41 | 103.70 |
| 1984 | 7 | 9.21% | 1,486.75 | 104.10 |
| 1984 | 8 | 1.41% | 1,507.67 | 104.50 |
| 1984 | 9 | -0.41% | 1,501.45 | 105.00 |
| 1984 | 10 | 1.29% | 1,520.76 | 105.30 |
| 1984 | 11 | -0.71% | 1,510.00 | 105.30 |
| 1984 | 12 | 4.70% | 1,580.93 | 105.30 |
| 1985 | 1 | 5.79% | 1,672.43 | 105.50 |
| 1985 | 2 | -0.48% | 1,664.43 | 106.00 |
| 1985 | 3 | 1.02% | 1,681.48 | 106.40 |
| 1985 | 4 | 2.74% | 1,727.48 | 106.90 |
| 1985 | 5 | 2.51% | 1,770.86 | 107.30 |
| 1985 | 6 | 2.25% | 1,810.66 | 107.60 |
| 1985 | 7 | -1.85% | 1,777.24 | 107.80 |
| 1985 | 8 | -1.88% | 1,743.74 | 108.00 |
| 1985 | 9 | 1.50% | 1,769.82 | 108.30 |
| 1985 | 10 | 6.42% | 1,883.45 | 108.70 |
| 1985 | 11 | 5.29% | 1,983.17 | 109.00 |
| 1985 | 12 | 0.75% | 1,998.08 | 109.30 |
| 1986 | 1 | 5.70% | 2,111.92 | 109.60 |
| 1986 | 2 | 6.18% | 2,242.49 | 109.30 |
| 1986 | 3 | 2.74% | 2,303.97 | 108.80 |
| 1986 | 4 | 0.49% | 2,315.30 | 108.60 |
| 1986 | 5 | 3.13% | 2,387.84 | 108.90 |
| 1986 | 6 | -1.80% | 2,344.77 | 109.50 |
| 1986 | 7 | 2.28% | 2,398.25 | 109.50 |
| 1986 | 8 | -2.46% | 2,339.34 | 109.70 |
| 1986 | 9 | -0.09% | 2,337.24 | 110.20 |
| 1986 | 10 | 3.53% | 2,419.81 | 110.30 |
| 1986 | 11 | 1.71% | 2,461.17 | 110.40 |
| 1986 | 12 | 6.67% | 2,625.41 | 110.50 |
| 1987 | 1 | 6.46% | 2,795.06 | 111.20 |
| 1987 | 2 | 4.38% | 2,917.38 | 111.60 |
| 1987 | 3 | -0.86% | 2,892.40 | 112.10 |
| 1987 | 4 | 0.17% | 2,897.40 | 112.70 |
| 1987 | 5 | 4.50% | 3,027.73 | 113.10 |
| 1987 | 6 | 3.12% | 3,122.26 | 113.50 |
| 1987 | 7 | 6.45% | 3,323.78 | 113.80 |
| 1987 | 8 | -3.03% | 3,223.05 | 114.40 |
| 1987 | 9 | -11.85% | 2,840.99 | 115.00 |
| 1987 | 10 | -12.30% | 2,491.45 | 115.30 |
| 1987 | 11 | -1.33% | 2,458.20 | 115.40 |
| 1987 | 12 | 4.25% | 2,562.59 | 115.40 |
| 1988 | 1 | 3.33% | 2,647.89 | 115.70 |
| 1988 | 2 | 3.23% | 2,733.47 | 116.00 |
| 1988 | 3 | -0.89% | 2,709.25 | 116.50 |
| 1988 | 4 | -2.19% | 2,649.96 | 117.10 |
| 1988 | 5 | 6.00% | 2,808.91 | 117.50 |
| 1988 | 6 | -0.31% | 2,800.29 | 118.00 |
| 1988 | 7 | -1.72% | 2,752.17 | 118.50 |
| 1988 | 8 | 1.93% | 2,805.21 | 119.00 |
| 1988 | 9 | 3.80% | 2,911.85 | 119.80 |
| 1988 | 10 | -2.02% | 2,853.03 | 120.20 |
| 1988 | 11 | 2.33% | 2,919.39 | 120.30 |
| 1988 | 12 | 3.51% | 3,021.93 | 120.50 |
| 1989 | 1 | 3.30% | 3,121.65 | 121.10 |
| 1989 | 2 | -0.16% | 3,116.61 | 121.60 |
| 1989 | 3 | 3.56% | 3,227.71 | 122.30 |
| 1989 | 4 | 4.12% | 3,360.54 | 123.10 |
| 1989 | 5 | 3.39% | 3,474.55 | 123.80 |
| 1989 | 6 | 2.80% | 3,571.84 | 124.10 |
| 1989 | 7 | 4.69% | 3,739.39 | 124.40 |
| 1989 | 8 | 0.46% | 3,756.42 | 124.60 |
| 1989 | 9 | 0.29% | 3,767.17 | 125.00 |
| 1989 | 10 | -1.81% | 3,698.86 | 125.60 |
| 1989 | 11 | 2.74% | 3,800.08 | 125.90 |
| 1989 | 12 | -2.21% | 3,716.05 | 126.10 |
| 1990 | 1 | -2.53% | 3,622.14 | 127.40 |
| 1990 | 2 | 2.71% | 3,720.20 | 128.00 |
| 1990 | 3 | 0.20% | 3,727.49 | 128.70 |
| 1990 | 4 | 3.85% | 3,871.03 | 128.90 |
| 1990 | 5 | 3.17% | 3,993.74 | 129.20 |
| 1990 | 6 | 0.17% | 4,000.52 | 129.90 |
| 1990 | 7 | -7.86% | 3,686.03 | 130.40 |
| 1990 | 8 | -4.34% | 3,526.02 | 131.60 |
| 1990 | 9 | -2.32% | 3,444.36 | 132.70 |
| 1990 | 10 | 2.98% | 3,547.14 | 133.50 |
| 1990 | 11 | 4.59% | 3,709.83 | 133.80 |
| 1990 | 12 | -0.69% | 3,684.41 | 133.80 |
| 1991 | 1 | 11.61% | 4,112.05 | 134.60 |
| 1991 | 2 | 3.04% | 4,237.25 | 134.80 |
| 1991 | 3 | 2.26% | 4,332.96 | 135.00 |
| 1991 | 4 | -0.18% | 4,325.21 | 135.20 |
| 1991 | 5 | 0.35% | 4,340.22 | 135.60 |
| 1991 | 6 | 0.78% | 4,374.10 | 136.00 |
| 1991 | 7 | 2.68% | 4,491.27 | 136.20 |
| 1991 | 8 | -0.30% | 4,477.66 | 136.60 |
| 1991 | 9 | 0.18% | 4,485.79 | 137.20 |
| 1991 | 10 | 0.02% | 4,486.50 | 137.40 |
| 1991 | 11 | 0.94% | 4,528.46 | 137.80 |
| 1991 | 12 | 7.36% | 4,861.66 | 137.90 |
| 1992 | 1 | -0.60% | 4,832.45 | 138.10 |
| 1992 | 2 | -1.01% | 4,783.53 | 138.60 |
| 1992 | 3 | 0.26% | 4,796.17 | 139.30 |
| 1992 | 4 | 2.07% | 4,895.37 | 139.50 |
| 1992 | 5 | -1.33% | 4,830.31 | 139.70 |
| 1992 | 6 | 1.91% | 4,922.67 | 140.20 |
| 1992 | 7 | 0.94% | 4,969.03 | 140.50 |
| 1992 | 8 | 0.38% | 4,987.82 | 140.90 |
| 1992 | 9 | -1.18% | 4,928.86 | 141.30 |
| 1992 | 10 | 2.76% | 5,064.75 | 141.80 |
| 1992 | 11 | 3.27% | 5,230.42 | 142.00 |
| 1992 | 12 | 0.14% | 5,237.90 | 141.90 |
| 1993 | 1 | 1.72% | 5,328.21 | 142.60 |
| 1993 | 2 | 2.15% | 5,442.78 | 143.10 |
| 1993 | 3 | -1.34% | 5,369.75 | 143.60 |
| 1993 | 4 | 0.72% | 5,408.66 | 144.00 |
| 1993 | 5 | 0.87% | 5,455.46 | 144.20 |
| 1993 | 6 | 0.06% | 5,458.79 | 144.40 |
| 1993 | 7 | 1.76% | 5,555.00 | 144.40 |
| 1993 | 8 | 1.35% | 5,630.27 | 144.80 |
| 1993 | 9 | 1.24% | 5,700.19 | 145.10 |
| 1993 | 10 | 0.01% | 5,700.62 | 145.70 |
| 1993 | 11 | 0.89% | 5,751.19 | 145.80 |
| 1993 | 12 | 1.74% | 5,851.03 | 145.80 |
| 1994 | 1 | -0.08% | 5,846.60 | 146.20 |
| 1994 | 2 | -1.42% | 5,763.35 | 146.70 |
| 1994 | 3 | -3.35% | 5,570.49 | 147.20 |
| 1994 | 4 | 1.06% | 5,629.44 | 147.40 |
| 1994 | 5 | 1.11% | 5,691.82 | 147.50 |
| 1994 | 6 | -0.52% | 5,662.28 | 148.00 |
| 1994 | 7 | 3.08% | 5,836.80 | 148.40 |
| 1994 | 8 | 0.82% | 5,884.51 | 149.00 |
| 1994 | 9 | -0.44% | 5,858.39 | 149.40 |
| 1994 | 10 | -0.37% | 5,836.72 | 149.50 |
| 1994 | 11 | -1.03% | 5,776.85 | 149.70 |
| 1994 | 12 | 2.45% | 5,918.45 | 149.70 |
| 1995 | 1 | 3.82% | 6,144.48 | 150.30 |
| 1995 | 2 | 2.56% | 6,301.67 | 150.90 |
| 1995 | 3 | 3.22% | 6,504.30 | 151.40 |
| 1995 | 4 | 3.35% | 6,722.05 | 151.90 |
| 1995 | 5 | 3.18% | 6,935.70 | 152.20 |
| 1995 | 6 | 3.55% | 7,181.75 | 152.50 |
| 1995 | 7 | 0.51% | 7,218.60 | 152.50 |
| 1995 | 8 | 3.72% | 7,486.96 | 152.90 |
| 1995 | 9 | 0.91% | 7,555.29 | 153.20 |
| 1995 | 10 | 2.36% | 7,733.47 | 153.70 |
| 1995 | 11 | 3.39% | 7,995.57 | 153.60 |
| 1995 | 12 | 0.16% | 8,008.57 | 153.50 |
| 1996 | 1 | 5.90% | 8,481.42 | 154.40 |
| 1996 | 2 | -0.20% | 8,464.40 | 154.90 |
| 1996 | 3 | 0.20% | 8,481.08 | 155.70 |
| 1996 | 4 | 2.35% | 8,680.79 | 156.30 |
| 1996 | 5 | 1.28% | 8,791.79 | 156.60 |
| 1996 | 6 | -3.48% | 8,486.13 | 156.70 |
| 1996 | 7 | 3.08% | 8,747.15 | 157.00 |
| 1996 | 8 | 2.02% | 8,924.16 | 157.30 |
| 1996 | 9 | 4.12% | 9,291.80 | 157.80 |
| 1996 | 10 | 5.05% | 9,761.22 | 158.30 |
| 1996 | 11 | 1.20% | 9,878.19 | 158.60 |
| 1996 | 12 | 3.26% | 10,199.97 | 158.60 |
| 1997 | 1 | 4.36% | 10,644.81 | 159.10 |
| 1997 | 2 | -0.62% | 10,578.42 | 159.60 |
| 1997 | 3 | -3.41% | 10,218.20 | 160.00 |
| 1997 | 4 | 9.22% | 11,160.09 | 160.20 |
| 1997 | 5 | 5.34% | 11,755.69 | 160.10 |
| 1997 | 6 | 5.74% | 12,429.99 | 160.30 |
| 1997 | 7 | 0.35% | 12,473.22 | 160.50 |
| 1997 | 8 | 1.19% | 12,621.90 | 160.80 |
| 1997 | 9 | 1.65% | 12,829.58 | 161.20 |
| 1997 | 10 | -1.15% | 12,681.77 | 161.60 |
| 1997 | 11 | 2.63% | 13,015.89 | 161.50 |
| 1997 | 12 | 0.24% | 13,046.75 | 161.30 |
| 1998 | 1 | 6.40% | 13,882.02 | 161.60 |
| 1998 | 2 | 5.31% | 14,619.56 | 161.90 |
| 1998 | 3 | 3.41% | 15,117.45 | 162.20 |
| 1998 | 4 | -0.22% | 15,083.91 | 162.50 |
| 1998 | 5 | 0.12% | 15,101.48 | 162.80 |
| 1998 | 6 | 4.47% | 15,776.16 | 163.00 |
| 1998 | 7 | -6.97% | 14,676.40 | 163.20 |
| 1998 | 8 | -4.90% | 13,957.49 | 163.40 |
| 1998 | 9 | 1.29% | 14,137.66 | 163.60 |
| 1998 | 10 | 10.97% | 15,689.18 | 164.00 |
| 1998 | 11 | 4.10% | 16,333.08 | 164.00 |
| 1998 | 12 | 5.05% | 17,157.52 | 163.90 |
| 1999 | 1 | -0.07% | 17,146.08 | 164.30 |
| 1999 | 2 | 2.92% | 17,647.35 | 164.50 |
| 1999 | 3 | 4.25% | 18,397.36 | 165.00 |
| 1999 | 4 | -0.10% | 18,379.18 | 166.20 |
| 1999 | 5 | -0.61% | 18,266.74 | 166.20 |
| 1999 | 6 | 4.52% | 19,092.83 | 166.20 |
| 1999 | 7 | -3.77% | 18,372.20 | 166.70 |
| 1999 | 8 | -0.60% | 18,262.33 | 167.10 |
| 1999 | 9 | -1.27% | 18,029.95 | 167.90 |
| 1999 | 10 | 7.11% | 19,311.14 | 168.20 |
| 1999 | 11 | 2.81% | 19,853.54 | 168.30 |
| 1999 | 12 | -0.12% | 19,829.93 | 168.30 |
| 2000 | 1 | -2.48% | 19,338.53 | 168.80 |
| 2000 | 2 | 3.94% | 20,100.65 | 169.80 |
| 2000 | 3 | 1.42% | 20,387.02 | 171.20 |
| 2000 | 4 | -2.84% | 19,808.27 | 171.30 |
| 2000 | 5 | 3.16% | 20,434.90 | 171.50 |
| 2000 | 6 | 0.85% | 20,608.67 | 172.40 |
| 2000 | 7 | 0.94% | 20,802.33 | 172.80 |
| 2000 | 8 | -1.08% | 20,577.74 | 172.80 |
| 2000 | 9 | -5.21% | 19,504.77 | 173.70 |
| 2000 | 10 | -0.77% | 19,354.08 | 174.00 |
| 2000 | 11 | -3.32% | 18,711.51 | 174.10 |
| 2000 | 12 | 0.46% | 18,796.65 | 174.00 |
| 2001 | 1 | -2.14% | 18,395.11 | 175.10 |
| 2001 | 2 | -9.08% | 16,724.85 | 175.80 |
| 2001 | 3 | 0.45% | 16,799.89 | 176.20 |
| 2001 | 4 | 6.88% | 17,955.61 | 176.90 |
| 2001 | 5 | -2.39% | 17,526.72 | 177.70 |
| 2001 | 6 | -2.66% | 17,060.46 | 178.00 |
| 2001 | 7 | -2.05% | 16,711.44 | 177.50 |
| 2001 | 8 | -11.25% | 14,831.85 | 177.50 |
| 2001 | 9 | 3.18% | 15,304.10 | 178.30 |
| 2001 | 10 | 5.05% | 16,077.43 | 177.70 |
| 2001 | 11 | 1.47% | 16,313.14 | 177.40 |
| 2001 | 12 | -0.30% | 16,264.58 | 176.70 |
| 2002 | 1 | -3.35% | 15,719.26 | 177.10 |
| 2002 | 2 | 4.95% | 16,496.62 | 177.80 |
| 2002 | 3 | -3.51% | 15,916.86 | 178.80 |
| 2002 | 4 | -2.82% | 15,467.94 | 179.80 |
| 2002 | 5 | -5.92% | 14,552.09 | 179.80 |
| 2002 | 6 | -10.76% | 12,986.51 | 179.90 |
| 2002 | 7 | 1.14% | 13,134.40 | 180.10 |
| 2002 | 8 | -4.76% | 12,509.50 | 180.70 |
| 2002 | 9 | -1.37% | 12,338.49 | 181.00 |
| 2002 | 10 | 6.63% | 13,155.98 | 181.30 |
| 2002 | 11 | -1.04% | 13,019.81 | 181.30 |
| 2002 | 12 | -0.22% | 12,990.84 | 180.90 |
| 2003 | 1 | -6.41% | 12,157.50 | 181.70 |
| 2003 | 2 | 1.31% | 12,316.51 | 183.10 |
| 2003 | 3 | 5.29% | 12,967.54 | 184.20 |
| 2003 | 4 | 5.31% | 13,656.40 | 183.80 |
| 2003 | 5 | 5.70% | 14,435.39 | 183.50 |
| 2003 | 6 | 0.60% | 14,521.41 | 183.70 |
| 2003 | 7 | -0.17% | 14,497.26 | 183.90 |
| 2003 | 8 | 3.16% | 14,955.54 | 184.60 |
| 2003 | 9 | 2.03% | 15,258.81 | 185.20 |
| 2003 | 10 | 1.21% | 15,443.53 | 185.00 |
| 2003 | 11 | 3.06% | 15,916.70 | 184.50 |
| 2003 | 12 | 4.93% | 16,702.18 | 184.30 |
| 2004 | 1 | 1.09% | 16,883.67 | 185.20 |
| 2004 | 2 | -1.57% | 16,619.41 | 186.20 |
| 2004 | 3 | 0.97% | 16,780.31 | 187.40 |
| 2004 | 4 | -2.56% | 16,350.02 | 188.00 |
| 2004 | 5 | 2.86% | 16,817.25 | 189.10 |
| 2004 | 6 | -2.24% | 16,440.75 | 189.70 |
| 2004 | 7 | -1.39% | 16,212.62 | 189.40 |
| 2004 | 8 | 2.78% | 16,663.76 | 189.50 |
| 2004 | 9 | 0.10% | 16,680.86 | 189.90 |
| 2004 | 10 | 4.77% | 17,477.18 | 190.90 |
| 2004 | 11 | 2.73% | 17,953.86 | 191.00 |
| 2004 | 12 | -1.35% | 17,711.63 | 190.30 |
| 2005 | 1 | 1.68% | 18,009.40 | 190.70 |
| 2005 | 2 | -0.26% | 17,963.37 | 191.80 |
| 2005 | 3 | -2.41% | 17,530.64 | 193.30 |
| 2005 | 4 | 1.34% | 17,764.83 | 194.60 |
| 2005 | 5 | 2.18% | 18,152.23 | 194.40 |
| 2005 | 6 | 1.81% | 18,480.38 | 194.50 |
| 2005 | 7 | 0.31% | 18,537.67 | 195.40 |
| 2005 | 8 | 0.28% | 18,589.52 | 196.40 |
| 2005 | 9 | -2.62% | 18,101.69 | 198.80 |
| 2005 | 10 | 3.96% | 18,818.80 | 199.20 |
| 2005 | 11 | 2.14% | 19,222.30 | 197.60 |
| 2005 | 12 | 1.47% | 19,504.24 | 196.80 |
| 2006 | 1 | -0.02% | 19,501.00 | 198.30 |
| 2006 | 2 | 1.49% | 19,790.81 | 198.70 |
| 2006 | 3 | 0.80% | 19,948.81 | 199.80 |
| 2006 | 4 | -0.79% | 19,791.88 | 201.50 |
| 2006 | 5 | -2.71% | 19,256.36 | 202.50 |
| 2006 | 6 | 0.72% | 19,395.01 | 202.90 |
| 2006 | 7 | 2.29% | 19,839.50 | 203.50 |
| 2006 | 8 | 2.53% | 20,341.67 | 203.90 |
| 2006 | 9 | 3.62% | 21,077.20 | 202.90 |
| 2006 | 10 | 2.00% | 21,499.09 | 201.80 |
| 2006 | 11 | 2.15% | 21,960.95 | 201.50 |
| 2006 | 12 | 0.69% | 22,113.10 | 201.80 |
| 2007 | 1 | 1.60% | 22,466.04 | 202.42 |
| 2007 | 2 | -2.47% | 21,910.25 | 203.50 |
| 2007 | 3 | 4.18% | 22,826.16 | 205.35 |
| 2007 | 4 | 3.39% | 23,600.37 | 206.69 |
| 2007 | 5 | 0.34% | 23,681.76 | 207.95 |
| 2007 | 6 | 0.57% | 23,817.84 | 208.35 |
| 2007 | 7 | -4.20% | 22,817.23 | 208.30 |
| 2007 | 8 | 3.07% | 23,518.80 | 207.92 |
| 2007 | 9 | 2.99% | 24,222.40 | 208.49 |
| 2007 | 10 | -4.81% | 23,058.20 | 208.94 |
| 2007 | 11 | 1.24% | 23,343.71 | 210.18 |
| 2007 | 12 | -6.64% | 21,794.81 | 210.04 |
| 2008 | 1 | -1.56% | 21,453.94 | 211.08 |
| 2008 | 2 | -2.63% | 20,890.43 | 211.69 |
| 2008 | 3 | 4.24% | 21,776.97 | 213.53 |
| 2008 | 4 | 2.56% | 22,335.03 | 214.82 |
| 2008 | 5 | -4.25% | 21,386.56 | 216.63 |
| 2008 | 6 | -6.08% | 20,086.58 | 218.82 |
| 2008 | 7 | 2.11% | 20,510.51 | 219.96 |
| 2008 | 8 | -4.85% | 19,516.26 | 219.09 |
| 2008 | 9 | -20.19% | 15,575.23 | 218.78 |
| 2008 | 10 | -8.61% | 14,234.93 | 216.57 |
| 2008 | 11 | -0.35% | 14,184.93 | 212.43 |
| 2008 | 12 | -1.10% | 14,029.53 | 210.23 |
| 2009 | 1 | -6.70% | 13,089.20 | 211.14 |
| 2009 | 2 | -5.69% | 12,344.76 | 212.19 |
| 2009 | 3 | 12.32% | 13,865.85 | 212.71 |
| 2009 | 4 | 6.66% | 14,789.29 | 213.24 |
| 2009 | 5 | 2.87% | 15,213.57 | 213.86 |
| 2009 | 6 | 1.28% | 15,407.95 | 215.69 |
| 2009 | 7 | 8.12% | 16,659.19 | 215.35 |
| 2009 | 8 | 3.65% | 17,267.30 | 215.83 |
| 2009 | 9 | 2.40% | 17,682.26 | 215.97 |
| 2009 | 10 | 2.09% | 18,052.58 | 216.18 |
| 2009 | 11 | 2.23% | 18,454.40 | 216.33 |
| 2009 | 12 | 1.36% | 18,704.82 | 215.95 |
| 2010 | 1 | -2.90% | 18,162.67 | 216.69 |
| 2010 | 2 | 5.94% | 19,242.08 | 216.74 |
| 2010 | 3 | 4.09% | 20,028.69 | 217.63 |
| 2010 | 4 | -5.88% | 18,850.52 | 218.01 |
| 2010 | 5 | -3.54% | 18,182.54 | 218.18 |
| 2010 | 6 | -0.16% | 18,153.62 | 217.97 |
| 2010 | 7 | 0.86% | 18,310.39 | 218.01 |
| 2010 | 8 | 3.37% | 18,927.66 | 218.31 |
| 2010 | 9 | 4.58% | 19,794.07 | 218.44 |
| 2010 | 10 | 2.49% | 20,287.12 | 218.71 |
| 2010 | 11 | 3.71% | 21,040.53 | 218.80 |
| 2010 | 12 | 3.46% | 21,768.99 | 219.18 |
| 2011 | 1 | 3.15% | 22,454.90 | 220.22 |
| 2011 | 2 | -1.11% | 22,205.10 | 221.31 |
| 2011 | 3 | 2.22% | 22,698.27 | 223.47 |
| 2011 | 4 | 0.66% | 22,847.91 | 224.91 |
| 2011 | 5 | -3.66% | 22,011.08 | 225.96 |
| 2011 | 6 | 3.10% | 22,693.81 | 225.72 |
| 2011 | 7 | -10.40% | 20,333.50 | 225.92 |
| 2011 | 8 | -0.79% | 20,173.02 | 226.55 |
| 2011 | 9 | 3.02% | 20,782.03 | 226.89 |
| 2011 | 10 | 1.77% | 21,149.27 | 226.42 |
| 2011 | 11 | 1.55% | 21,478.09 | 226.23 |
| 2011 | 12 | 4.78% | 22,505.29 | 225.67 |
| 2012 | 1 | 4.16% | 23,442.10 | 226.67 |
| 2012 | 2 | 2.88% | 24,118.13 | 227.66 |
| 2012 | 3 | -0.04% | 24,108.92 | 229.39 |
| 2012 | 4 | -3.09% | 23,363.72 | 230.09 |
| 2012 | 5 | -1.15% | 23,094.48 | 229.82 |
| 2012 | 6 | 2.92% | 23,769.08 | 229.48 |
| 2012 | 7 | 3.39% | 24,574.31 | 229.10 |
| 2012 | 8 | 3.02% | 25,316.74 | 230.38 |
| 2012 | 9 | -0.22% | 25,261.77 | 231.41 |
| 2012 | 10 | -2.84% | 24,544.97 | 231.32 |
| 2012 | 11 | 2.18% | 25,078.95 | 230.22 |
| 2012 | 12 | 4.27% | 26,149.51 | 229.60 |
| 2013 | 1 | 2.33% | 26,759.59 | 230.28 |
| 2013 | 2 | 2.72% | 27,488.10 | 232.17 |
| 2013 | 3 | 1.45% | 27,887.72 | 232.77 |
| 2013 | 4 | 4.57% | 29,163.38 | 232.53 |
| 2013 | 5 | -1.12% | 28,837.40 | 232.95 |
| 2013 | 6 | 3.25% | 29,775.91 | 233.50 |
| 2013 | 7 | 0.25% | 29,851.10 | 233.60 |
| 2013 | 8 | 1.19% | 30,207.07 | 233.88 |
| 2013 | 9 | 2.12% | 30,846.72 | 234.15 |
| 2013 | 10 | 3.86% | 32,037.40 | 233.55 |
| 2013 | 11 | 1.52% | 32,524.90 | 233.07 |
| 2013 | 12 | 0.97% | 32,839.68 | 233.05 |
| 2014 | 1 | -0.13% | 32,796.97 | 233.92 |
| 2014 | 2 | 2.72% | 33,689.80 | 234.78 |
| 2014 | 3 | 0.20% | 33,757.76 | 236.29 |
| 2014 | 4 | 1.53% | 34,274.94 | 237.07 |
| 2014 | 5 | 3.20% | 35,370.47 | 237.90 |
| 2014 | 6 | 1.50% | 35,899.55 | 238.34 |
| 2014 | 7 | -0.43% | 35,746.28 | 238.25 |
| 2014 | 8 | 1.78% | 36,381.86 | 237.85 |
| 2014 | 9 | -2.65% | 35,418.98 | 238.03 |
| 2014 | 10 | 5.71% | 37,439.87 | 237.43 |
| 2014 | 11 | 0.63% | 37,677.19 | 236.15 |
| 2014 | 12 | -1.11% | 37,258.96 | 234.81 |
| 2015 | 1 | 2.83% | 38,312.42 | 233.71 |
| 2015 | 2 | 0.06% | 38,333.63 | 234.72 |
| 2015 | 3 | 0.88% | 38,670.36 | 236.12 |
| 2015 | 4 | 0.98% | 39,048.90 | 236.60 |
| 2015 | 5 | -0.44% | 38,878.84 | 237.81 |
| 2015 | 6 | -0.08% | 38,847.88 | 238.64 |
| 2015 | 7 | -2.42% | 37,906.06 | 238.65 |
| 2015 | 8 | -4.51% | 36,197.60 | 238.32 |
| 2015 | 9 | 4.32% | 37,760.29 | 237.95 |
| 2015 | 10 | 2.93% | 38,867.60 | 237.84 |
| 2015 | 11 | -1.10% | 38,438.90 | 237.34 |
| 2015 | 12 | -6.42% | 35,971.27 | 236.53 |
| 2016 | 1 | -0.55% | 35,773.46 | 236.92 |
| 2016 | 2 | 6.36% | 38,049.63 | 237.11 |
| 2016 | 3 | 2.83% | 39,126.91 | 238.13 |
| 2016 | 4 | -0.30% | 39,007.82 | 239.26 |
| 2016 | 5 | 1.07% | 39,423.84 | 240.23 |
| 2016 | 6 | 3.30% | 40,723.81 | 241.02 |
| 2016 | 7 | 1.20% | 41,212.20 | 240.63 |
| 2016 | 8 | -0.44% | 41,031.41 | 240.85 |
| 2016 | 9 | -0.51% | 40,823.80 | 241.43 |
| 2016 | 10 | 1.20% | 41,314.16 | 241.73 |
| 2016 | 11 | 3.95% | 42,944.40 | 241.35 |
| 2016 | 12 | 1.44% | 43,561.78 | 241.43 |
| 2017 | 1 | 2.58% | 44,684.13 | 242.84 |
| 2017 | 2 | 1.75% | 45,465.77 | 243.60 |
| 2017 | 3 | -0.15% | 45,395.75 | 243.80 |
| 2017 | 4 | 1.69% | 46,164.02 | 244.52 |
| 2017 | 5 | 1.78% | 46,984.09 | 244.73 |
| 2017 | 6 | 0.99% | 47,448.24 | 244.96 |
| 2017 | 7 | 0.25% | 47,565.81 | 244.79 |
| 2017 | 8 | 1.65% | 48,352.20 | 245.52 |
| 2017 | 9 | 2.73% | 49,674.54 | 246.82 |
| 2017 | 10 | 1.59% | 50,464.15 | 246.66 |
| 2017 | 11 | 2.88% | 51,919.28 | 246.67 |
| 2017 | 12 | 4.86% | 54,443.54 | 246.52 |
| 2018 | 1 | -2.89% | 52,871.92 | 247.87 |
| 2018 | 2 | 0.06% | 52,906.07 | 248.99 |
| 2018 | 3 | -1.66% | 52,025.73 | 249.55 |
| 2018 | 4 | 1.96% | 53,046.27 | 250.55 |
| 2018 | 5 | 2.11% | 54,167.13 | 251.59 |
| 2018 | 6 | 1.58% | 55,023.37 | 251.99 |
| 2018 | 7 | 2.45% | 56,371.88 | 252.01 |
| 2018 | 8 | 1.68% | 57,318.79 | 252.15 |
| 2018 | 9 | -3.85% | 55,112.60 | 252.44 |
| 2018 | 10 | -2.08% | 53,968.40 | 252.89 |
| 2018 | 11 | -5.56% | 50,966.40 | 252.04 |
| 2018 | 12 | 1.74% | 51,850.99 | 251.23 |
| 2019 | 1 | 5.83% | 54,873.34 | 251.71 |
| 2019 | 2 | 1.95% | 55,942.28 | 252.78 |
| 2019 | 3 | 3.72% | 58,025.13 | 254.20 |
| 2019 | 4 | -1.53% | 57,136.31 | 255.55 |
| 2019 | 5 | 1.40% | 57,938.93 | 256.09 |
| 2019 | 6 | 3.83% | 60,156.46 | 256.14 |
| 2019 | 7 | -3.13% | 58,270.90 | 256.57 |
| 2019 | 8 | 3.09% | 60,068.69 | 256.56 |
| 2019 | 9 | 0.01% | 60,074.58 | 256.76 |
| 2019 | 10 | 4.43% | 62,738.10 | 257.35 |
| 2019 | 11 | 2.47% | 64,287.31 | 257.21 |
| 2019 | 12 | 3.35% | 66,438.62 | 256.97 |
| 2020 | 1 | 0.12% | 66,519.72 | 257.97 |
| 2020 | 2 | -18.92% | 53,935.72 | 258.68 |
| 2020 | 3 | 4.32% | 56,264.99 | 258.12 |
| 2020 | 4 | 5.89% | 59,577.52 | 256.39 |
| 2020 | 5 | 6.51% | 63,454.98 | 256.39 |
| 2020 | 6 | 3.48% | 65,660.95 | 257.80 |
| 2020 | 7 | 5.89% | 69,530.69 | 259.10 |
| 2020 | 8 | -0.63% | 69,094.73 | 259.92 |
| 2020 | 9 | 1.73% | 70,287.30 | 260.28 |
| 2020 | 10 | 3.95% | 73,066.54 | 260.39 |
| 2020 | 11 | 4.26% | 76,179.24 | 260.23 |
| 2020 | 12 | 2.80% | 78,308.68 | 260.47 |
| 2021 | 1 | 2.49% | 80,259.76 | 261.58 |
| 2021 | 2 | 0.82% | 80,918.98 | 263.01 |
| 2021 | 3 | 6.02% | 85,791.50 | 264.88 |
| 2021 | 4 | 0.76% | 86,443.72 | 267.05 |
| 2021 | 5 | 1.81% | 88,008.71 | 269.20 |
| 2021 | 6 | 3.07% | 90,709.00 | 271.70 |
| 2021 | 7 | 2.19% | 92,691.14 | 273.00 |
| 2021 | 8 | -0.08% | 92,612.82 | 273.57 |
| 2021 | 9 | 0.45% | 93,031.59 | 274.31 |
| 2021 | 10 | 4.74% | 97,445.70 | 276.59 |
| 2021 | 11 | 0.27% | 97,704.32 | 277.95 |
| 2021 | 12 | -2.05% | 95,699.48 | 278.80 |
| 2022 | 1 | -2.90% | 92,921.73 | 281.15 |
| 2022 | 2 | -0.89% | 92,092.33 | 283.72 |
| 2022 | 3 | 0.12% | 92,201.28 | 287.50 |
| 2022 | 4 | -7.87% | 84,942.52 | 289.11 |
| 2022 | 5 | -3.37% | 82,080.48 | 292.30 |
| 2022 | 6 | 0.46% | 82,461.89 | 296.31 |
| 2022 | 7 | 6.45% | 87,778.54 | 296.28 |
| 2022 | 8 | -7.28% | 81,390.54 | 296.17 |
| 2022 | 9 | -3.09% | 78,874.61 | 296.81 |
| 2022 | 10 | 5.29% | 83,043.21 | 298.01 |
| 2022 | 11 | 0.01% | 83,052.21 | 297.71 |
| 2022 | 12 | 1.38% | 84,195.39 | 296.80 |
| 2023 | 1 | 3.15% | 86,844.99 | 299.17 |
| 2023 | 2 | -2.59% | 84,599.68 | 300.84 |
| 2023 | 3 | 4.00% | 87,980.47 | 301.84 |
| 2023 | 4 | 0.74% | 88,629.50 | 303.36 |
| 2023 | 5 | 4.94% | 93,009.73 | 304.13 |
| 2023 | 6 | 3.88% | 96,614.83 | 305.11 |
| 2023 | 7 | -1.00% | 95,650.96 | 305.69 |
| 2023 | 8 | -0.95% | 94,738.86 | 307.03 |
| 2023 | 9 | -3.04% | 91,861.34 | 307.79 |
| 2023 | 10 | 4.60% | 96,088.55 | 307.67 |
| 2023 | 11 | 5.18% | 101,061.37 | 307.05 |
| 2023 | 12 | 2.91% | 104,004.11 | 306.75 |
Click to show 510 more rows
Remember, returns are based on the average closing price across the entire month. Some losses are offset by dividend returns.
Dollar-cost averaging
Dollar-cost averaging is an alternative to investing the full lump-sum of $800.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $800.00 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 $89,462.83, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $104,004.11).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1980 | 1 | 33.33 | 34.65 |
| 1980 | 2 | 33.33 | 61.88 |
| 1980 | 3 | 33.33 | 93.95 |
| 1980 | 4 | 33.33 | 133.53 |
| 1980 | 5 | 33.33 | 178.16 |
| 1980 | 6 | 33.33 | 221.85 |
| 1980 | 7 | 33.33 | 263.99 |
| 1980 | 8 | 33.33 | 305.61 |
| 1980 | 9 | 33.33 | 350.08 |
| 1980 | 10 | 33.33 | 400.97 |
| 1980 | 11 | 33.33 | 428.77 |
| 1980 | 12 | 33.33 | 462.02 |
| 1981 | 1 | 33.33 | 480.01 |
| 1981 | 2 | 33.33 | 534.48 |
| 1981 | 3 | 33.33 | 575.02 |
| 1981 | 4 | 33.33 | 598.38 |
| 1981 | 5 | 33.33 | 637.00 |
| 1981 | 6 | 33.33 | 656.68 |
| 1981 | 7 | 33.33 | 695.41 |
| 1981 | 8 | 33.33 | 668.09 |
| 1981 | 9 | 33.33 | 713.38 |
| 1981 | 10 | 33.33 | 769.29 |
| 1981 | 11 | 33.33 | 811.94 |
| 1981 | 12 | 33.41 | 804.59 |
| 1982 | 1 | - | 789.19 |
| 1982 | 2 | - | 767.53 |
| 1982 | 3 | - | 809.51 |
| 1982 | 4 | - | 814.12 |
| 1982 | 5 | - | 771.21 |
| 1982 | 6 | - | 773.09 |
| 1982 | 7 | - | 779.23 |
| 1982 | 8 | - | 873.49 |
| 1982 | 9 | - | 951.06 |
| 1982 | 10 | - | 993.86 |
| 1982 | 11 | - | 1,007.33 |
| 1982 | 12 | - | 1,046.88 |
| 1983 | 1 | - | 1,069.18 |
| 1983 | 2 | - | 1,110.51 |
| 1983 | 3 | - | 1,157.12 |
| 1983 | 4 | - | 1,208.31 |
| 1983 | 5 | - | 1,229.50 |
| 1983 | 6 | - | 1,238.20 |
| 1983 | 7 | - | 1,208.40 |
| 1983 | 8 | - | 1,248.44 |
| 1983 | 9 | - | 1,256.53 |
| 1983 | 10 | - | 1,242.19 |
| 1983 | 11 | - | 1,240.60 |
| 1983 | 12 | - | 1,260.15 |
| 1984 | 1 | - | 1,195.73 |
| 1984 | 2 | - | 1,201.02 |
| 1984 | 3 | - | 1,207.11 |
| 1984 | 4 | - | 1,204.06 |
| 1984 | 5 | - | 1,181.80 |
| 1984 | 6 | - | 1,171.07 |
| 1984 | 7 | - | 1,278.88 |
| 1984 | 8 | - | 1,296.88 |
| 1984 | 9 | - | 1,291.53 |
| 1984 | 10 | - | 1,308.14 |
| 1984 | 11 | - | 1,298.88 |
| 1984 | 12 | - | 1,359.90 |
| 1985 | 1 | - | 1,438.60 |
| 1985 | 2 | - | 1,431.72 |
| 1985 | 3 | - | 1,446.39 |
| 1985 | 4 | - | 1,485.96 |
| 1985 | 5 | - | 1,523.27 |
| 1985 | 6 | - | 1,557.50 |
| 1985 | 7 | - | 1,528.76 |
| 1985 | 8 | - | 1,499.94 |
| 1985 | 9 | - | 1,522.37 |
| 1985 | 10 | - | 1,620.12 |
| 1985 | 11 | - | 1,705.90 |
| 1985 | 12 | - | 1,718.72 |
| 1986 | 1 | - | 1,816.64 |
| 1986 | 2 | - | 1,928.96 |
| 1986 | 3 | - | 1,981.84 |
| 1986 | 4 | - | 1,991.59 |
| 1986 | 5 | - | 2,053.99 |
| 1986 | 6 | - | 2,016.94 |
| 1986 | 7 | - | 2,062.94 |
| 1986 | 8 | - | 2,012.27 |
| 1986 | 9 | - | 2,010.46 |
| 1986 | 10 | - | 2,081.49 |
| 1986 | 11 | - | 2,117.06 |
| 1986 | 12 | - | 2,258.34 |
| 1987 | 1 | - | 2,404.27 |
| 1987 | 2 | - | 2,509.49 |
| 1987 | 3 | - | 2,488.00 |
| 1987 | 4 | - | 2,492.30 |
| 1987 | 5 | - | 2,604.41 |
| 1987 | 6 | - | 2,685.73 |
| 1987 | 7 | - | 2,859.06 |
| 1987 | 8 | - | 2,772.42 |
| 1987 | 9 | - | 2,443.78 |
| 1987 | 10 | - | 2,143.11 |
| 1987 | 11 | - | 2,114.51 |
| 1987 | 12 | - | 2,204.30 |
| 1988 | 1 | - | 2,277.67 |
| 1988 | 2 | - | 2,351.29 |
| 1988 | 3 | - | 2,330.46 |
| 1988 | 4 | - | 2,279.46 |
| 1988 | 5 | - | 2,416.19 |
| 1988 | 6 | - | 2,408.77 |
| 1988 | 7 | - | 2,367.38 |
| 1988 | 8 | - | 2,413.00 |
| 1988 | 9 | - | 2,504.73 |
| 1988 | 10 | - | 2,454.13 |
| 1988 | 11 | - | 2,511.21 |
| 1988 | 12 | - | 2,599.42 |
| 1989 | 1 | - | 2,685.20 |
| 1989 | 2 | - | 2,680.86 |
| 1989 | 3 | - | 2,776.43 |
| 1989 | 4 | - | 2,890.69 |
| 1989 | 5 | - | 2,988.76 |
| 1989 | 6 | - | 3,072.45 |
| 1989 | 7 | - | 3,216.57 |
| 1989 | 8 | - | 3,231.22 |
| 1989 | 9 | - | 3,240.47 |
| 1989 | 10 | - | 3,181.70 |
| 1989 | 11 | - | 3,268.78 |
| 1989 | 12 | - | 3,196.50 |
| 1990 | 1 | - | 3,115.71 |
| 1990 | 2 | - | 3,200.06 |
| 1990 | 3 | - | 3,206.33 |
| 1990 | 4 | - | 3,329.81 |
| 1990 | 5 | - | 3,435.36 |
| 1990 | 6 | - | 3,441.19 |
| 1990 | 7 | - | 3,170.67 |
| 1990 | 8 | - | 3,033.03 |
| 1990 | 9 | - | 2,962.79 |
| 1990 | 10 | - | 3,051.20 |
| 1990 | 11 | - | 3,191.14 |
| 1990 | 12 | - | 3,169.28 |
| 1991 | 1 | - | 3,537.13 |
| 1991 | 2 | - | 3,644.82 |
| 1991 | 3 | - | 3,727.15 |
| 1991 | 4 | - | 3,720.48 |
| 1991 | 5 | - | 3,733.39 |
| 1991 | 6 | - | 3,762.53 |
| 1991 | 7 | - | 3,863.33 |
| 1991 | 8 | - | 3,851.62 |
| 1991 | 9 | - | 3,858.62 |
| 1991 | 10 | - | 3,859.23 |
| 1991 | 11 | - | 3,895.31 |
| 1991 | 12 | - | 4,181.93 |
| 1992 | 1 | - | 4,156.81 |
| 1992 | 2 | - | 4,114.72 |
| 1992 | 3 | - | 4,125.60 |
| 1992 | 4 | - | 4,210.93 |
| 1992 | 5 | - | 4,154.96 |
| 1992 | 6 | - | 4,234.41 |
| 1992 | 7 | - | 4,274.29 |
| 1992 | 8 | - | 4,290.45 |
| 1992 | 9 | - | 4,239.74 |
| 1992 | 10 | - | 4,356.62 |
| 1992 | 11 | - | 4,499.14 |
| 1992 | 12 | - | 4,505.56 |
| 1993 | 1 | - | 4,583.25 |
| 1993 | 2 | - | 4,681.80 |
| 1993 | 3 | - | 4,618.98 |
| 1993 | 4 | - | 4,652.46 |
| 1993 | 5 | - | 4,692.71 |
| 1993 | 6 | - | 4,695.57 |
| 1993 | 7 | - | 4,778.33 |
| 1993 | 8 | - | 4,843.07 |
| 1993 | 9 | - | 4,903.22 |
| 1993 | 10 | - | 4,903.59 |
| 1993 | 11 | - | 4,947.09 |
| 1993 | 12 | - | 5,032.97 |
| 1994 | 1 | - | 5,029.16 |
| 1994 | 2 | - | 4,957.55 |
| 1994 | 3 | - | 4,791.65 |
| 1994 | 4 | - | 4,842.36 |
| 1994 | 5 | - | 4,896.02 |
| 1994 | 6 | - | 4,870.61 |
| 1994 | 7 | - | 5,020.73 |
| 1994 | 8 | - | 5,061.77 |
| 1994 | 9 | - | 5,039.30 |
| 1994 | 10 | - | 5,020.66 |
| 1994 | 11 | - | 4,969.16 |
| 1994 | 12 | - | 5,090.97 |
| 1995 | 1 | - | 5,285.39 |
| 1995 | 2 | - | 5,420.60 |
| 1995 | 3 | - | 5,594.91 |
| 1995 | 4 | - | 5,782.21 |
| 1995 | 5 | - | 5,965.99 |
| 1995 | 6 | - | 6,177.64 |
| 1995 | 7 | - | 6,209.33 |
| 1995 | 8 | - | 6,440.18 |
| 1995 | 9 | - | 6,498.95 |
| 1995 | 10 | - | 6,652.22 |
| 1995 | 11 | - | 6,877.67 |
| 1995 | 12 | - | 6,888.85 |
| 1996 | 1 | - | 7,295.60 |
| 1996 | 2 | - | 7,280.95 |
| 1996 | 3 | - | 7,295.30 |
| 1996 | 4 | - | 7,467.09 |
| 1996 | 5 | - | 7,562.57 |
| 1996 | 6 | - | 7,299.65 |
| 1996 | 7 | - | 7,524.17 |
| 1996 | 8 | - | 7,676.44 |
| 1996 | 9 | - | 7,992.67 |
| 1996 | 10 | - | 8,396.46 |
| 1996 | 11 | - | 8,497.07 |
| 1996 | 12 | - | 8,773.87 |
| 1997 | 1 | - | 9,156.51 |
| 1997 | 2 | - | 9,099.40 |
| 1997 | 3 | - | 8,789.55 |
| 1997 | 4 | - | 9,599.75 |
| 1997 | 5 | - | 10,112.07 |
| 1997 | 6 | - | 10,692.09 |
| 1997 | 7 | - | 10,729.28 |
| 1997 | 8 | - | 10,857.17 |
| 1997 | 9 | - | 11,035.82 |
| 1997 | 10 | - | 10,908.68 |
| 1997 | 11 | - | 11,196.08 |
| 1997 | 12 | - | 11,222.62 |
| 1998 | 1 | - | 11,941.11 |
| 1998 | 2 | - | 12,575.53 |
| 1998 | 3 | - | 13,003.81 |
| 1998 | 4 | - | 12,974.96 |
| 1998 | 5 | - | 12,990.07 |
| 1998 | 6 | - | 13,570.43 |
| 1998 | 7 | - | 12,624.43 |
| 1998 | 8 | - | 12,006.03 |
| 1998 | 9 | - | 12,161.01 |
| 1998 | 10 | - | 13,495.61 |
| 1998 | 11 | - | 14,049.48 |
| 1998 | 12 | - | 14,758.65 |
| 1999 | 1 | - | 14,748.81 |
| 1999 | 2 | - | 15,179.99 |
| 1999 | 3 | - | 15,825.14 |
| 1999 | 4 | - | 15,809.50 |
| 1999 | 5 | - | 15,712.79 |
| 1999 | 6 | - | 16,423.38 |
| 1999 | 7 | - | 15,803.50 |
| 1999 | 8 | - | 15,708.99 |
| 1999 | 9 | - | 15,509.10 |
| 1999 | 10 | - | 16,611.17 |
| 1999 | 11 | - | 17,077.73 |
| 1999 | 12 | - | 17,057.42 |
| 2000 | 1 | - | 16,634.72 |
| 2000 | 2 | - | 17,290.29 |
| 2000 | 3 | - | 17,536.62 |
| 2000 | 4 | - | 17,038.79 |
| 2000 | 5 | - | 17,577.81 |
| 2000 | 6 | - | 17,727.28 |
| 2000 | 7 | - | 17,893.86 |
| 2000 | 8 | - | 17,700.67 |
| 2000 | 9 | - | 16,777.72 |
| 2000 | 10 | - | 16,648.10 |
| 2000 | 11 | - | 16,095.37 |
| 2000 | 12 | - | 16,168.61 |
| 2001 | 1 | - | 15,823.20 |
| 2001 | 2 | - | 14,386.47 |
| 2001 | 3 | - | 14,451.02 |
| 2001 | 4 | - | 15,445.16 |
| 2001 | 5 | - | 15,076.23 |
| 2001 | 6 | - | 14,675.16 |
| 2001 | 7 | - | 14,374.93 |
| 2001 | 8 | - | 12,758.14 |
| 2001 | 9 | - | 13,164.36 |
| 2001 | 10 | - | 13,829.58 |
| 2001 | 11 | - | 14,032.32 |
| 2001 | 12 | - | 13,990.55 |
| 2002 | 1 | - | 13,521.48 |
| 2002 | 2 | - | 14,190.15 |
| 2002 | 3 | - | 13,691.45 |
| 2002 | 4 | - | 13,305.30 |
| 2002 | 5 | - | 12,517.50 |
| 2002 | 6 | - | 11,170.81 |
| 2002 | 7 | - | 11,298.02 |
| 2002 | 8 | - | 10,760.49 |
| 2002 | 9 | - | 10,613.39 |
| 2002 | 10 | - | 11,316.59 |
| 2002 | 11 | - | 11,199.45 |
| 2002 | 12 | - | 11,174.53 |
| 2003 | 1 | - | 10,457.70 |
| 2003 | 2 | - | 10,594.48 |
| 2003 | 3 | - | 11,154.49 |
| 2003 | 4 | - | 11,747.04 |
| 2003 | 5 | - | 12,417.11 |
| 2003 | 6 | - | 12,491.11 |
| 2003 | 7 | - | 12,470.33 |
| 2003 | 8 | - | 12,864.54 |
| 2003 | 9 | - | 13,125.41 |
| 2003 | 10 | - | 13,284.30 |
| 2003 | 11 | - | 13,691.31 |
| 2003 | 12 | - | 14,366.97 |
| 2004 | 1 | - | 14,523.09 |
| 2004 | 2 | - | 14,295.78 |
| 2004 | 3 | - | 14,434.18 |
| 2004 | 4 | - | 14,064.05 |
| 2004 | 5 | - | 14,465.96 |
| 2004 | 6 | - | 14,142.09 |
| 2004 | 7 | - | 13,945.86 |
| 2004 | 8 | - | 14,333.92 |
| 2004 | 9 | - | 14,348.63 |
| 2004 | 10 | - | 15,033.62 |
| 2004 | 11 | - | 15,443.65 |
| 2004 | 12 | - | 15,235.28 |
| 2005 | 1 | - | 15,491.42 |
| 2005 | 2 | - | 15,451.83 |
| 2005 | 3 | - | 15,079.60 |
| 2005 | 4 | - | 15,281.05 |
| 2005 | 5 | - | 15,614.28 |
| 2005 | 6 | - | 15,896.56 |
| 2005 | 7 | - | 15,945.84 |
| 2005 | 8 | - | 15,990.44 |
| 2005 | 9 | - | 15,570.81 |
| 2005 | 10 | - | 16,187.66 |
| 2005 | 11 | - | 16,534.74 |
| 2005 | 12 | - | 16,777.27 |
| 2006 | 1 | - | 16,774.48 |
| 2006 | 2 | - | 17,023.77 |
| 2006 | 3 | - | 17,159.67 |
| 2006 | 4 | - | 17,024.69 |
| 2006 | 5 | - | 16,564.04 |
| 2006 | 6 | - | 16,683.31 |
| 2006 | 7 | - | 17,065.65 |
| 2006 | 8 | - | 17,497.61 |
| 2006 | 9 | - | 18,130.31 |
| 2006 | 10 | - | 18,493.21 |
| 2006 | 11 | - | 18,890.49 |
| 2006 | 12 | - | 19,021.37 |
| 2007 | 1 | - | 19,324.96 |
| 2007 | 2 | - | 18,846.88 |
| 2007 | 3 | - | 19,634.73 |
| 2007 | 4 | - | 20,300.69 |
| 2007 | 5 | - | 20,370.71 |
| 2007 | 6 | - | 20,487.76 |
| 2007 | 7 | - | 19,627.05 |
| 2007 | 8 | - | 20,230.53 |
| 2007 | 9 | - | 20,835.76 |
| 2007 | 10 | - | 19,834.33 |
| 2007 | 11 | - | 20,079.92 |
| 2007 | 12 | - | 18,747.58 |
| 2008 | 1 | - | 18,454.37 |
| 2008 | 2 | - | 17,969.64 |
| 2008 | 3 | - | 18,732.24 |
| 2008 | 4 | - | 19,212.27 |
| 2008 | 5 | - | 18,396.41 |
| 2008 | 6 | - | 17,278.19 |
| 2008 | 7 | - | 17,642.85 |
| 2008 | 8 | - | 16,787.60 |
| 2008 | 9 | - | 13,397.58 |
| 2008 | 10 | - | 12,244.68 |
| 2008 | 11 | - | 12,201.67 |
| 2008 | 12 | - | 12,067.99 |
| 2009 | 1 | - | 11,259.14 |
| 2009 | 2 | - | 10,618.78 |
| 2009 | 3 | - | 11,927.20 |
| 2009 | 4 | - | 12,721.53 |
| 2009 | 5 | - | 13,086.49 |
| 2009 | 6 | - | 13,253.69 |
| 2009 | 7 | - | 14,329.99 |
| 2009 | 8 | - | 14,853.08 |
| 2009 | 9 | - | 15,210.02 |
| 2009 | 10 | - | 15,528.57 |
| 2009 | 11 | - | 15,874.21 |
| 2009 | 12 | - | 16,089.62 |
| 2010 | 1 | - | 15,623.27 |
| 2010 | 2 | - | 16,551.76 |
| 2010 | 3 | - | 17,228.39 |
| 2010 | 4 | - | 16,214.94 |
| 2010 | 5 | - | 15,640.36 |
| 2010 | 6 | - | 15,615.48 |
| 2010 | 7 | - | 15,750.33 |
| 2010 | 8 | - | 16,281.30 |
| 2010 | 9 | - | 17,026.57 |
| 2010 | 10 | - | 17,450.69 |
| 2010 | 11 | - | 18,098.76 |
| 2010 | 12 | - | 18,725.37 |
| 2011 | 1 | - | 19,315.38 |
| 2011 | 2 | - | 19,100.51 |
| 2011 | 3 | - | 19,524.73 |
| 2011 | 4 | - | 19,653.44 |
| 2011 | 5 | - | 18,933.61 |
| 2011 | 6 | - | 19,520.88 |
| 2011 | 7 | - | 17,490.59 |
| 2011 | 8 | - | 17,352.54 |
| 2011 | 9 | - | 17,876.40 |
| 2011 | 10 | - | 18,192.30 |
| 2011 | 11 | - | 18,475.14 |
| 2011 | 12 | - | 19,358.73 |
| 2012 | 1 | - | 20,164.55 |
| 2012 | 2 | - | 20,746.07 |
| 2012 | 3 | - | 20,738.14 |
| 2012 | 4 | - | 20,097.13 |
| 2012 | 5 | - | 19,865.53 |
| 2012 | 6 | - | 20,445.82 |
| 2012 | 7 | - | 21,138.47 |
| 2012 | 8 | - | 21,777.09 |
| 2012 | 9 | - | 21,729.81 |
| 2012 | 10 | - | 21,113.23 |
| 2012 | 11 | - | 21,572.55 |
| 2012 | 12 | - | 22,493.43 |
| 2013 | 1 | - | 23,018.21 |
| 2013 | 2 | - | 23,644.87 |
| 2013 | 3 | - | 23,988.62 |
| 2013 | 4 | - | 25,085.92 |
| 2013 | 5 | - | 24,805.52 |
| 2013 | 6 | - | 25,612.81 |
| 2013 | 7 | - | 25,677.49 |
| 2013 | 8 | - | 25,983.68 |
| 2013 | 9 | - | 26,533.90 |
| 2013 | 10 | - | 27,558.11 |
| 2013 | 11 | - | 27,977.45 |
| 2013 | 12 | - | 28,248.21 |
| 2014 | 1 | - | 28,211.48 |
| 2014 | 2 | - | 28,979.47 |
| 2014 | 3 | - | 29,037.93 |
| 2014 | 4 | - | 29,482.80 |
| 2014 | 5 | - | 30,425.17 |
| 2014 | 6 | - | 30,880.27 |
| 2014 | 7 | - | 30,748.43 |
| 2014 | 8 | - | 31,295.15 |
| 2014 | 9 | - | 30,466.90 |
| 2014 | 10 | - | 32,205.23 |
| 2014 | 11 | - | 32,409.38 |
| 2014 | 12 | - | 32,049.62 |
| 2015 | 1 | - | 32,955.79 |
| 2015 | 2 | - | 32,974.03 |
| 2015 | 3 | - | 33,263.68 |
| 2015 | 4 | - | 33,589.30 |
| 2015 | 5 | - | 33,443.02 |
| 2015 | 6 | - | 33,416.39 |
| 2015 | 7 | - | 32,606.24 |
| 2015 | 8 | - | 31,136.65 |
| 2015 | 9 | - | 32,480.85 |
| 2015 | 10 | - | 33,433.34 |
| 2015 | 11 | - | 33,064.58 |
| 2015 | 12 | - | 30,941.96 |
| 2016 | 1 | - | 30,771.81 |
| 2016 | 2 | - | 32,729.74 |
| 2016 | 3 | - | 33,656.40 |
| 2016 | 4 | - | 33,553.96 |
| 2016 | 5 | - | 33,911.81 |
| 2016 | 6 | - | 35,030.03 |
| 2016 | 7 | - | 35,450.13 |
| 2016 | 8 | - | 35,294.62 |
| 2016 | 9 | - | 35,116.04 |
| 2016 | 10 | - | 35,537.84 |
| 2016 | 11 | - | 36,940.15 |
| 2016 | 12 | - | 37,471.22 |
| 2017 | 1 | - | 38,436.64 |
| 2017 | 2 | - | 39,109.00 |
| 2017 | 3 | - | 39,048.77 |
| 2017 | 4 | - | 39,709.62 |
| 2017 | 5 | - | 40,415.03 |
| 2017 | 6 | - | 40,814.28 |
| 2017 | 7 | - | 40,915.42 |
| 2017 | 8 | - | 41,591.86 |
| 2017 | 9 | - | 42,729.32 |
| 2017 | 10 | - | 43,408.53 |
| 2017 | 11 | - | 44,660.21 |
| 2017 | 12 | - | 46,831.54 |
| 2018 | 1 | - | 45,479.66 |
| 2018 | 2 | - | 45,509.03 |
| 2018 | 3 | - | 44,751.77 |
| 2018 | 4 | - | 45,629.64 |
| 2018 | 5 | - | 46,593.78 |
| 2018 | 6 | - | 47,330.30 |
| 2018 | 7 | - | 48,490.28 |
| 2018 | 8 | - | 49,304.79 |
| 2018 | 9 | - | 47,407.06 |
| 2018 | 10 | - | 46,422.83 |
| 2018 | 11 | - | 43,840.56 |
| 2018 | 12 | - | 44,601.47 |
| 2019 | 1 | - | 47,201.25 |
| 2019 | 2 | - | 48,120.74 |
| 2019 | 3 | - | 49,912.38 |
| 2019 | 4 | - | 49,147.83 |
| 2019 | 5 | - | 49,838.23 |
| 2019 | 6 | - | 51,745.71 |
| 2019 | 7 | - | 50,123.79 |
| 2019 | 8 | - | 51,670.22 |
| 2019 | 9 | - | 51,675.28 |
| 2019 | 10 | - | 53,966.41 |
| 2019 | 11 | - | 55,299.01 |
| 2019 | 12 | - | 57,149.53 |
| 2020 | 1 | - | 57,219.30 |
| 2020 | 2 | - | 46,394.72 |
| 2020 | 3 | - | 48,398.33 |
| 2020 | 4 | - | 51,247.72 |
| 2020 | 5 | - | 54,583.06 |
| 2020 | 6 | - | 56,480.60 |
| 2020 | 7 | - | 59,809.29 |
| 2020 | 8 | - | 59,434.28 |
| 2020 | 9 | - | 60,460.12 |
| 2020 | 10 | - | 62,850.78 |
| 2020 | 11 | - | 65,528.28 |
| 2020 | 12 | - | 67,359.99 |
| 2021 | 1 | - | 69,038.28 |
| 2021 | 2 | - | 69,605.33 |
| 2021 | 3 | - | 73,796.61 |
| 2021 | 4 | - | 74,357.63 |
| 2021 | 5 | - | 75,703.82 |
| 2021 | 6 | - | 78,026.57 |
| 2021 | 7 | - | 79,731.57 |
| 2021 | 8 | - | 79,664.20 |
| 2021 | 9 | - | 80,024.42 |
| 2021 | 10 | - | 83,821.38 |
| 2021 | 11 | - | 84,043.84 |
| 2021 | 12 | - | 82,319.30 |
| 2022 | 1 | - | 79,929.93 |
| 2022 | 2 | - | 79,216.49 |
| 2022 | 3 | - | 79,310.20 |
| 2022 | 4 | - | 73,066.32 |
| 2022 | 5 | - | 70,604.44 |
| 2022 | 6 | - | 70,932.52 |
| 2022 | 7 | - | 75,505.82 |
| 2022 | 8 | - | 70,010.96 |
| 2022 | 9 | - | 67,846.80 |
| 2022 | 10 | - | 71,432.57 |
| 2022 | 11 | - | 71,440.31 |
| 2022 | 12 | - | 72,423.65 |
| 2023 | 1 | - | 74,702.80 |
| 2023 | 2 | - | 72,771.42 |
| 2023 | 3 | - | 75,679.52 |
| 2023 | 4 | - | 76,237.81 |
| 2023 | 5 | - | 80,005.62 |
| 2023 | 6 | - | 83,106.67 |
| 2023 | 7 | - | 82,277.57 |
| 2023 | 8 | - | 81,492.99 |
| 2023 | 9 | - | 79,017.79 |
| 2023 | 10 | - | 82,653.98 |
| 2023 | 11 | - | 86,931.52 |
| 2023 | 12 | - | 89,462.83 |
Click to show 510 more rows
Data Sources
The information on this page is derived from Robert Shiller's book, Irrational Exuberance and the accompanying dataset, as well as the U.S. Bureau of Labor Statistics' monthly CPI logs.
Note that S&P index value for the current quarter is based on a moving average of closing prices, per Robert Shiller's methodology. The inflation data used is based on annual CPI averages.
About the author
Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.
| Start Value Average monthly close | $110.90 |
| End Value Average monthly close | $3,960.66 |
| Change in price | +3,471.38% +8.67% / yr |
| Change incl. dividends | +12,900.51% +11.70% / yr |
| Change incl. dividends, inflation-adjusted | +3,415.70% +8.43% / yr |
| Final amount, nominal ($800 base) | $104,004.11 |
| Final amount, inflation-adjusted ($800 base) | $28,125.62 |