Stock market returns since 1990
If you invested $100 in the S&P 500 at the beginning of 1990, you would have about $2,604.37 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 2,504.37%, or 10.17% per year.
This lump-sum investment beats inflation during this period for an inflation-adjusted return of about 1,008.58% cumulatively, or 7.41% per year.
If you used dollar-cost averaging (monthly) instead of a lump-sum investment, you'd have $2,421.09.
Contents
- Overview
- Adjusting for inflation
- Full monthly data
- Dollar cost average
The graph below shows the performance of $100 over time if invested in an S&P 500 index fund. The returns assume that all dividends are automatically reinvested.
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This chart shows the rate of gains and loss by month, including dividends:
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Adjusting stock market return for inflation
The nominal return on investment of $100 is $2,504.37, or 2,504.37%. This means by 2023 you would have $2,604.37 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 1990 was 130.700 and the CPI in 2023 was 307.051.
The ratio between these CPIs describes how relative buying power of a dollar has changed over 33 years.
Adjusted for inflation, the $2,604.37 nominal end value of the original $100 investment would have a real return of roughly $1,008.58 in 1990 dollars. This means the inflation-adjusted return is 1,008.58% as opposed to the original 2,504.37%.
For more information on inflation, see our U.S. inflation calculator for 1990.
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Full monthly data
The table below shows the full dataset pertaining to a $100 investment, including gains and losses over the 404-month period between 1990 and 2023.
Note that data shown is the monthly average closing price. Returns include dividends.
| Year | Month | Return (%) | Amount ($) | CPI |
|---|---|---|---|---|
| 1990 | 1 | -2.53% | 97.47 | 127.40 |
| 1990 | 2 | 2.71% | 100.11 | 128.00 |
| 1990 | 3 | 0.20% | 100.31 | 128.70 |
| 1990 | 4 | 3.85% | 104.17 | 128.90 |
| 1990 | 5 | 3.17% | 107.47 | 129.20 |
| 1990 | 6 | 0.17% | 107.66 | 129.90 |
| 1990 | 7 | -7.86% | 99.19 | 130.40 |
| 1990 | 8 | -4.34% | 94.89 | 131.60 |
| 1990 | 9 | -2.32% | 92.69 | 132.70 |
| 1990 | 10 | 2.98% | 95.45 | 133.50 |
| 1990 | 11 | 4.59% | 99.83 | 133.80 |
| 1990 | 12 | -0.69% | 99.15 | 133.80 |
| 1991 | 1 | 11.61% | 110.66 | 134.60 |
| 1991 | 2 | 3.04% | 114.03 | 134.80 |
| 1991 | 3 | 2.26% | 116.60 | 135.00 |
| 1991 | 4 | -0.18% | 116.39 | 135.20 |
| 1991 | 5 | 0.35% | 116.80 | 135.60 |
| 1991 | 6 | 0.78% | 117.71 | 136.00 |
| 1991 | 7 | 2.68% | 120.86 | 136.20 |
| 1991 | 8 | -0.30% | 120.50 | 136.60 |
| 1991 | 9 | 0.18% | 120.71 | 137.20 |
| 1991 | 10 | 0.02% | 120.73 | 137.40 |
| 1991 | 11 | 0.94% | 121.86 | 137.80 |
| 1991 | 12 | 7.36% | 130.83 | 137.90 |
| 1992 | 1 | -0.60% | 130.04 | 138.10 |
| 1992 | 2 | -1.01% | 128.73 | 138.60 |
| 1992 | 3 | 0.26% | 129.07 | 139.30 |
| 1992 | 4 | 2.07% | 131.74 | 139.50 |
| 1992 | 5 | -1.33% | 129.98 | 139.70 |
| 1992 | 6 | 1.91% | 132.47 | 140.20 |
| 1992 | 7 | 0.94% | 133.72 | 140.50 |
| 1992 | 8 | 0.38% | 134.22 | 140.90 |
| 1992 | 9 | -1.18% | 132.64 | 141.30 |
| 1992 | 10 | 2.76% | 136.29 | 141.80 |
| 1992 | 11 | 3.27% | 140.75 | 142.00 |
| 1992 | 12 | 0.14% | 140.95 | 141.90 |
| 1993 | 1 | 1.72% | 143.38 | 142.60 |
| 1993 | 2 | 2.15% | 146.47 | 143.10 |
| 1993 | 3 | -1.34% | 144.50 | 143.60 |
| 1993 | 4 | 0.72% | 145.55 | 144.00 |
| 1993 | 5 | 0.87% | 146.81 | 144.20 |
| 1993 | 6 | 0.06% | 146.90 | 144.40 |
| 1993 | 7 | 1.76% | 149.49 | 144.40 |
| 1993 | 8 | 1.35% | 151.51 | 144.80 |
| 1993 | 9 | 1.24% | 153.39 | 145.10 |
| 1993 | 10 | 0.01% | 153.41 | 145.70 |
| 1993 | 11 | 0.89% | 154.77 | 145.80 |
| 1993 | 12 | 1.74% | 157.45 | 145.80 |
| 1994 | 1 | -0.08% | 157.33 | 146.20 |
| 1994 | 2 | -1.42% | 155.09 | 146.70 |
| 1994 | 3 | -3.35% | 149.90 | 147.20 |
| 1994 | 4 | 1.06% | 151.49 | 147.40 |
| 1994 | 5 | 1.11% | 153.17 | 147.50 |
| 1994 | 6 | -0.52% | 152.37 | 148.00 |
| 1994 | 7 | 3.08% | 157.07 | 148.40 |
| 1994 | 8 | 0.82% | 158.35 | 149.00 |
| 1994 | 9 | -0.44% | 157.65 | 149.40 |
| 1994 | 10 | -0.37% | 157.07 | 149.50 |
| 1994 | 11 | -1.03% | 155.46 | 149.70 |
| 1994 | 12 | 2.45% | 159.27 | 149.70 |
| 1995 | 1 | 3.82% | 165.35 | 150.30 |
| 1995 | 2 | 2.56% | 169.58 | 150.90 |
| 1995 | 3 | 3.22% | 175.03 | 151.40 |
| 1995 | 4 | 3.35% | 180.89 | 151.90 |
| 1995 | 5 | 3.18% | 186.64 | 152.20 |
| 1995 | 6 | 3.55% | 193.26 | 152.50 |
| 1995 | 7 | 0.51% | 194.25 | 152.50 |
| 1995 | 8 | 3.72% | 201.48 | 152.90 |
| 1995 | 9 | 0.91% | 203.31 | 153.20 |
| 1995 | 10 | 2.36% | 208.11 | 153.70 |
| 1995 | 11 | 3.39% | 215.16 | 153.60 |
| 1995 | 12 | 0.16% | 215.51 | 153.50 |
| 1996 | 1 | 5.90% | 228.24 | 154.40 |
| 1996 | 2 | -0.20% | 227.78 | 154.90 |
| 1996 | 3 | 0.20% | 228.23 | 155.70 |
| 1996 | 4 | 2.35% | 233.60 | 156.30 |
| 1996 | 5 | 1.28% | 236.59 | 156.60 |
| 1996 | 6 | -3.48% | 228.36 | 156.70 |
| 1996 | 7 | 3.08% | 235.39 | 157.00 |
| 1996 | 8 | 2.02% | 240.15 | 157.30 |
| 1996 | 9 | 4.12% | 250.04 | 157.80 |
| 1996 | 10 | 5.05% | 262.68 | 158.30 |
| 1996 | 11 | 1.20% | 265.82 | 158.60 |
| 1996 | 12 | 3.26% | 274.48 | 158.60 |
| 1997 | 1 | 4.36% | 286.45 | 159.10 |
| 1997 | 2 | -0.62% | 284.67 | 159.60 |
| 1997 | 3 | -3.41% | 274.97 | 160.00 |
| 1997 | 4 | 9.22% | 300.32 | 160.20 |
| 1997 | 5 | 5.34% | 316.35 | 160.10 |
| 1997 | 6 | 5.74% | 334.49 | 160.30 |
| 1997 | 7 | 0.35% | 335.66 | 160.50 |
| 1997 | 8 | 1.19% | 339.66 | 160.80 |
| 1997 | 9 | 1.65% | 345.25 | 161.20 |
| 1997 | 10 | -1.15% | 341.27 | 161.60 |
| 1997 | 11 | 2.63% | 350.26 | 161.50 |
| 1997 | 12 | 0.24% | 351.09 | 161.30 |
| 1998 | 1 | 6.40% | 373.57 | 161.60 |
| 1998 | 2 | 5.31% | 393.42 | 161.90 |
| 1998 | 3 | 3.41% | 406.81 | 162.20 |
| 1998 | 4 | -0.22% | 405.91 | 162.50 |
| 1998 | 5 | 0.12% | 406.38 | 162.80 |
| 1998 | 6 | 4.47% | 424.54 | 163.00 |
| 1998 | 7 | -6.97% | 394.95 | 163.20 |
| 1998 | 8 | -4.90% | 375.60 | 163.40 |
| 1998 | 9 | 1.29% | 380.45 | 163.60 |
| 1998 | 10 | 10.97% | 422.20 | 164.00 |
| 1998 | 11 | 4.10% | 439.53 | 164.00 |
| 1998 | 12 | 5.05% | 461.71 | 163.90 |
| 1999 | 1 | -0.07% | 461.41 | 164.30 |
| 1999 | 2 | 2.92% | 474.89 | 164.50 |
| 1999 | 3 | 4.25% | 495.08 | 165.00 |
| 1999 | 4 | -0.10% | 494.59 | 166.20 |
| 1999 | 5 | -0.61% | 491.56 | 166.20 |
| 1999 | 6 | 4.52% | 513.79 | 166.20 |
| 1999 | 7 | -3.77% | 494.40 | 166.70 |
| 1999 | 8 | -0.60% | 491.44 | 167.10 |
| 1999 | 9 | -1.27% | 485.19 | 167.90 |
| 1999 | 10 | 7.11% | 519.67 | 168.20 |
| 1999 | 11 | 2.81% | 534.26 | 168.30 |
| 1999 | 12 | -0.12% | 533.63 | 168.30 |
| 2000 | 1 | -2.48% | 520.41 | 168.80 |
| 2000 | 2 | 3.94% | 540.91 | 169.80 |
| 2000 | 3 | 1.42% | 548.62 | 171.20 |
| 2000 | 4 | -2.84% | 533.05 | 171.30 |
| 2000 | 5 | 3.16% | 549.91 | 171.50 |
| 2000 | 6 | 0.85% | 554.58 | 172.40 |
| 2000 | 7 | 0.94% | 559.80 | 172.80 |
| 2000 | 8 | -1.08% | 553.75 | 172.80 |
| 2000 | 9 | -5.21% | 524.88 | 173.70 |
| 2000 | 10 | -0.77% | 520.82 | 174.00 |
| 2000 | 11 | -3.32% | 503.53 | 174.10 |
| 2000 | 12 | 0.46% | 505.82 | 174.00 |
| 2001 | 1 | -2.14% | 495.02 | 175.10 |
| 2001 | 2 | -9.08% | 450.07 | 175.80 |
| 2001 | 3 | 0.45% | 452.09 | 176.20 |
| 2001 | 4 | 6.88% | 483.19 | 176.90 |
| 2001 | 5 | -2.39% | 471.65 | 177.70 |
| 2001 | 6 | -2.66% | 459.10 | 178.00 |
| 2001 | 7 | -2.05% | 449.71 | 177.50 |
| 2001 | 8 | -11.25% | 399.13 | 177.50 |
| 2001 | 9 | 3.18% | 411.84 | 178.30 |
| 2001 | 10 | 5.05% | 432.65 | 177.70 |
| 2001 | 11 | 1.47% | 438.99 | 177.40 |
| 2001 | 12 | -0.30% | 437.68 | 176.70 |
| 2002 | 1 | -3.35% | 423.01 | 177.10 |
| 2002 | 2 | 4.95% | 443.93 | 177.80 |
| 2002 | 3 | -3.51% | 428.33 | 178.80 |
| 2002 | 4 | -2.82% | 416.25 | 179.80 |
| 2002 | 5 | -5.92% | 391.60 | 179.80 |
| 2002 | 6 | -10.76% | 349.47 | 179.90 |
| 2002 | 7 | 1.14% | 353.45 | 180.10 |
| 2002 | 8 | -4.76% | 336.63 | 180.70 |
| 2002 | 9 | -1.37% | 332.03 | 181.00 |
| 2002 | 10 | 6.63% | 354.03 | 181.30 |
| 2002 | 11 | -1.04% | 350.37 | 181.30 |
| 2002 | 12 | -0.22% | 349.59 | 180.90 |
| 2003 | 1 | -6.41% | 327.16 | 181.70 |
| 2003 | 2 | 1.31% | 331.44 | 183.10 |
| 2003 | 3 | 5.29% | 348.96 | 184.20 |
| 2003 | 4 | 5.31% | 367.50 | 183.80 |
| 2003 | 5 | 5.70% | 388.46 | 183.50 |
| 2003 | 6 | 0.60% | 390.78 | 183.70 |
| 2003 | 7 | -0.17% | 390.13 | 183.90 |
| 2003 | 8 | 3.16% | 402.46 | 184.60 |
| 2003 | 9 | 2.03% | 410.62 | 185.20 |
| 2003 | 10 | 1.21% | 415.59 | 185.00 |
| 2003 | 11 | 3.06% | 428.32 | 184.50 |
| 2003 | 12 | 4.93% | 449.46 | 184.30 |
| 2004 | 1 | 1.09% | 454.34 | 185.20 |
| 2004 | 2 | -1.57% | 447.23 | 186.20 |
| 2004 | 3 | 0.97% | 451.56 | 187.40 |
| 2004 | 4 | -2.56% | 439.98 | 188.00 |
| 2004 | 5 | 2.86% | 452.56 | 189.10 |
| 2004 | 6 | -2.24% | 442.43 | 189.70 |
| 2004 | 7 | -1.39% | 436.29 | 189.40 |
| 2004 | 8 | 2.78% | 448.43 | 189.50 |
| 2004 | 9 | 0.10% | 448.89 | 189.90 |
| 2004 | 10 | 4.77% | 470.32 | 190.90 |
| 2004 | 11 | 2.73% | 483.14 | 191.00 |
| 2004 | 12 | -1.35% | 476.62 | 190.30 |
| 2005 | 1 | 1.68% | 484.64 | 190.70 |
| 2005 | 2 | -0.26% | 483.40 | 191.80 |
| 2005 | 3 | -2.41% | 471.75 | 193.30 |
| 2005 | 4 | 1.34% | 478.06 | 194.60 |
| 2005 | 5 | 2.18% | 488.48 | 194.40 |
| 2005 | 6 | 1.81% | 497.31 | 194.50 |
| 2005 | 7 | 0.31% | 498.85 | 195.40 |
| 2005 | 8 | 0.28% | 500.25 | 196.40 |
| 2005 | 9 | -2.62% | 487.12 | 198.80 |
| 2005 | 10 | 3.96% | 506.42 | 199.20 |
| 2005 | 11 | 2.14% | 517.28 | 197.60 |
| 2005 | 12 | 1.47% | 524.86 | 196.80 |
| 2006 | 1 | -0.02% | 524.78 | 198.30 |
| 2006 | 2 | 1.49% | 532.58 | 198.70 |
| 2006 | 3 | 0.80% | 536.83 | 199.80 |
| 2006 | 4 | -0.79% | 532.60 | 201.50 |
| 2006 | 5 | -2.71% | 518.19 | 202.50 |
| 2006 | 6 | 0.72% | 521.92 | 202.90 |
| 2006 | 7 | 2.29% | 533.89 | 203.50 |
| 2006 | 8 | 2.53% | 547.40 | 203.90 |
| 2006 | 9 | 3.62% | 567.19 | 202.90 |
| 2006 | 10 | 2.00% | 578.55 | 201.80 |
| 2006 | 11 | 2.15% | 590.98 | 201.50 |
| 2006 | 12 | 0.69% | 595.07 | 201.80 |
| 2007 | 1 | 1.60% | 604.57 | 202.42 |
| 2007 | 2 | -2.47% | 589.61 | 203.50 |
| 2007 | 3 | 4.18% | 614.26 | 205.35 |
| 2007 | 4 | 3.39% | 635.09 | 206.69 |
| 2007 | 5 | 0.34% | 637.28 | 207.95 |
| 2007 | 6 | 0.57% | 640.94 | 208.35 |
| 2007 | 7 | -4.20% | 614.02 | 208.30 |
| 2007 | 8 | 3.07% | 632.90 | 207.92 |
| 2007 | 9 | 2.99% | 651.83 | 208.49 |
| 2007 | 10 | -4.81% | 620.50 | 208.94 |
| 2007 | 11 | 1.24% | 628.19 | 210.18 |
| 2007 | 12 | -6.64% | 586.50 | 210.04 |
| 2008 | 1 | -1.56% | 577.33 | 211.08 |
| 2008 | 2 | -2.63% | 562.17 | 211.69 |
| 2008 | 3 | 4.24% | 586.02 | 213.53 |
| 2008 | 4 | 2.56% | 601.04 | 214.82 |
| 2008 | 5 | -4.25% | 575.52 | 216.63 |
| 2008 | 6 | -6.08% | 540.54 | 218.82 |
| 2008 | 7 | 2.11% | 551.94 | 219.96 |
| 2008 | 8 | -4.85% | 525.19 | 219.09 |
| 2008 | 9 | -20.19% | 419.13 | 218.78 |
| 2008 | 10 | -8.61% | 383.07 | 216.57 |
| 2008 | 11 | -0.35% | 381.72 | 212.43 |
| 2008 | 12 | -1.10% | 377.54 | 210.23 |
| 2009 | 1 | -6.70% | 352.23 | 211.14 |
| 2009 | 2 | -5.69% | 332.20 | 212.19 |
| 2009 | 3 | 12.32% | 373.13 | 212.71 |
| 2009 | 4 | 6.66% | 397.98 | 213.24 |
| 2009 | 5 | 2.87% | 409.40 | 213.86 |
| 2009 | 6 | 1.28% | 414.63 | 215.69 |
| 2009 | 7 | 8.12% | 448.30 | 215.35 |
| 2009 | 8 | 3.65% | 464.67 | 215.83 |
| 2009 | 9 | 2.40% | 475.83 | 215.97 |
| 2009 | 10 | 2.09% | 485.80 | 216.18 |
| 2009 | 11 | 2.23% | 496.61 | 216.33 |
| 2009 | 12 | 1.36% | 503.35 | 215.95 |
| 2010 | 1 | -2.90% | 488.76 | 216.69 |
| 2010 | 2 | 5.94% | 517.81 | 216.74 |
| 2010 | 3 | 4.09% | 538.98 | 217.63 |
| 2010 | 4 | -5.88% | 507.27 | 218.01 |
| 2010 | 5 | -3.54% | 489.30 | 218.18 |
| 2010 | 6 | -0.16% | 488.52 | 217.97 |
| 2010 | 7 | 0.86% | 492.74 | 218.01 |
| 2010 | 8 | 3.37% | 509.35 | 218.31 |
| 2010 | 9 | 4.58% | 532.66 | 218.44 |
| 2010 | 10 | 2.49% | 545.93 | 218.71 |
| 2010 | 11 | 3.71% | 566.21 | 218.80 |
| 2010 | 12 | 3.46% | 585.81 | 219.18 |
| 2011 | 1 | 3.15% | 604.27 | 220.22 |
| 2011 | 2 | -1.11% | 597.55 | 221.31 |
| 2011 | 3 | 2.22% | 610.82 | 223.47 |
| 2011 | 4 | 0.66% | 614.84 | 224.91 |
| 2011 | 5 | -3.66% | 592.32 | 225.96 |
| 2011 | 6 | 3.10% | 610.70 | 225.72 |
| 2011 | 7 | -10.40% | 547.18 | 225.92 |
| 2011 | 8 | -0.79% | 542.86 | 226.55 |
| 2011 | 9 | 3.02% | 559.25 | 226.89 |
| 2011 | 10 | 1.77% | 569.13 | 226.42 |
| 2011 | 11 | 1.55% | 577.98 | 226.23 |
| 2011 | 12 | 4.78% | 605.62 | 225.67 |
| 2012 | 1 | 4.16% | 630.83 | 226.67 |
| 2012 | 2 | 2.88% | 649.03 | 227.66 |
| 2012 | 3 | -0.04% | 648.78 | 229.39 |
| 2012 | 4 | -3.09% | 628.72 | 230.09 |
| 2012 | 5 | -1.15% | 621.48 | 229.82 |
| 2012 | 6 | 2.92% | 639.63 | 229.48 |
| 2012 | 7 | 3.39% | 661.30 | 229.10 |
| 2012 | 8 | 3.02% | 681.28 | 230.38 |
| 2012 | 9 | -0.22% | 679.80 | 231.41 |
| 2012 | 10 | -2.84% | 660.51 | 231.32 |
| 2012 | 11 | 2.18% | 674.88 | 230.22 |
| 2012 | 12 | 4.27% | 703.69 | 229.60 |
| 2013 | 1 | 2.33% | 720.11 | 230.28 |
| 2013 | 2 | 2.72% | 739.71 | 232.17 |
| 2013 | 3 | 1.45% | 750.47 | 232.77 |
| 2013 | 4 | 4.57% | 784.79 | 232.53 |
| 2013 | 5 | -1.12% | 776.02 | 232.95 |
| 2013 | 6 | 3.25% | 801.28 | 233.50 |
| 2013 | 7 | 0.25% | 803.30 | 233.60 |
| 2013 | 8 | 1.19% | 812.88 | 233.88 |
| 2013 | 9 | 2.12% | 830.09 | 234.15 |
| 2013 | 10 | 3.86% | 862.14 | 233.55 |
| 2013 | 11 | 1.52% | 875.25 | 233.07 |
| 2013 | 12 | 0.97% | 883.72 | 233.05 |
| 2014 | 1 | -0.13% | 882.58 | 233.92 |
| 2014 | 2 | 2.72% | 906.60 | 234.78 |
| 2014 | 3 | 0.20% | 908.43 | 236.29 |
| 2014 | 4 | 1.53% | 922.35 | 237.07 |
| 2014 | 5 | 3.20% | 951.83 | 237.90 |
| 2014 | 6 | 1.50% | 966.07 | 238.34 |
| 2014 | 7 | -0.43% | 961.94 | 238.25 |
| 2014 | 8 | 1.78% | 979.05 | 237.85 |
| 2014 | 9 | -2.65% | 953.13 | 238.03 |
| 2014 | 10 | 5.71% | 1,007.52 | 237.43 |
| 2014 | 11 | 0.63% | 1,013.90 | 236.15 |
| 2014 | 12 | -1.11% | 1,002.65 | 234.81 |
| 2015 | 1 | 2.83% | 1,031.00 | 233.71 |
| 2015 | 2 | 0.06% | 1,031.57 | 234.72 |
| 2015 | 3 | 0.88% | 1,040.63 | 236.12 |
| 2015 | 4 | 0.98% | 1,050.82 | 236.60 |
| 2015 | 5 | -0.44% | 1,046.24 | 237.81 |
| 2015 | 6 | -0.08% | 1,045.41 | 238.64 |
| 2015 | 7 | -2.42% | 1,020.06 | 238.65 |
| 2015 | 8 | -4.51% | 974.09 | 238.32 |
| 2015 | 9 | 4.32% | 1,016.14 | 237.95 |
| 2015 | 10 | 2.93% | 1,045.94 | 237.84 |
| 2015 | 11 | -1.10% | 1,034.40 | 237.34 |
| 2015 | 12 | -6.42% | 968.00 | 236.53 |
| 2016 | 1 | -0.55% | 962.67 | 236.92 |
| 2016 | 2 | 6.36% | 1,023.93 | 237.11 |
| 2016 | 3 | 2.83% | 1,052.92 | 238.13 |
| 2016 | 4 | -0.30% | 1,049.71 | 239.26 |
| 2016 | 5 | 1.07% | 1,060.91 | 240.23 |
| 2016 | 6 | 3.30% | 1,095.89 | 241.02 |
| 2016 | 7 | 1.20% | 1,109.03 | 240.63 |
| 2016 | 8 | -0.44% | 1,104.17 | 240.85 |
| 2016 | 9 | -0.51% | 1,098.58 | 241.43 |
| 2016 | 10 | 1.20% | 1,111.78 | 241.73 |
| 2016 | 11 | 3.95% | 1,155.65 | 241.35 |
| 2016 | 12 | 1.44% | 1,172.26 | 241.43 |
| 2017 | 1 | 2.58% | 1,202.46 | 242.84 |
| 2017 | 2 | 1.75% | 1,223.50 | 243.60 |
| 2017 | 3 | -0.15% | 1,221.61 | 243.80 |
| 2017 | 4 | 1.69% | 1,242.29 | 244.52 |
| 2017 | 5 | 1.78% | 1,264.35 | 244.73 |
| 2017 | 6 | 0.99% | 1,276.84 | 244.96 |
| 2017 | 7 | 0.25% | 1,280.01 | 244.79 |
| 2017 | 8 | 1.65% | 1,301.17 | 245.52 |
| 2017 | 9 | 2.73% | 1,336.76 | 246.82 |
| 2017 | 10 | 1.59% | 1,358.00 | 246.66 |
| 2017 | 11 | 2.88% | 1,397.16 | 246.67 |
| 2017 | 12 | 4.86% | 1,465.09 | 246.52 |
| 2018 | 1 | -2.89% | 1,422.80 | 247.87 |
| 2018 | 2 | 0.06% | 1,423.72 | 248.99 |
| 2018 | 3 | -1.66% | 1,400.03 | 249.55 |
| 2018 | 4 | 1.96% | 1,427.49 | 250.55 |
| 2018 | 5 | 2.11% | 1,457.65 | 251.59 |
| 2018 | 6 | 1.58% | 1,480.69 | 251.99 |
| 2018 | 7 | 2.45% | 1,516.98 | 252.01 |
| 2018 | 8 | 1.68% | 1,542.46 | 252.15 |
| 2018 | 9 | -3.85% | 1,483.09 | 252.44 |
| 2018 | 10 | -2.08% | 1,452.30 | 252.89 |
| 2018 | 11 | -5.56% | 1,371.52 | 252.04 |
| 2018 | 12 | 1.74% | 1,395.32 | 251.23 |
| 2019 | 1 | 5.83% | 1,476.66 | 251.71 |
| 2019 | 2 | 1.95% | 1,505.42 | 252.78 |
| 2019 | 3 | 3.72% | 1,561.47 | 254.20 |
| 2019 | 4 | -1.53% | 1,537.55 | 255.55 |
| 2019 | 5 | 1.40% | 1,559.15 | 256.09 |
| 2019 | 6 | 3.83% | 1,618.83 | 256.14 |
| 2019 | 7 | -3.13% | 1,568.09 | 256.57 |
| 2019 | 8 | 3.09% | 1,616.46 | 256.56 |
| 2019 | 9 | 0.01% | 1,616.62 | 256.76 |
| 2019 | 10 | 4.43% | 1,688.30 | 257.35 |
| 2019 | 11 | 2.47% | 1,729.99 | 257.21 |
| 2019 | 12 | 3.35% | 1,787.88 | 256.97 |
| 2020 | 1 | 0.12% | 1,790.06 | 257.97 |
| 2020 | 2 | -18.92% | 1,451.42 | 258.68 |
| 2020 | 3 | 4.32% | 1,514.11 | 258.12 |
| 2020 | 4 | 5.89% | 1,603.25 | 256.39 |
| 2020 | 5 | 6.51% | 1,707.59 | 256.39 |
| 2020 | 6 | 3.48% | 1,766.95 | 257.80 |
| 2020 | 7 | 5.89% | 1,871.09 | 259.10 |
| 2020 | 8 | -0.63% | 1,859.36 | 259.92 |
| 2020 | 9 | 1.73% | 1,891.45 | 260.28 |
| 2020 | 10 | 3.95% | 1,966.24 | 260.39 |
| 2020 | 11 | 4.26% | 2,050.00 | 260.23 |
| 2020 | 12 | 2.80% | 2,107.31 | 260.47 |
| 2021 | 1 | 2.49% | 2,159.81 | 261.58 |
| 2021 | 2 | 0.82% | 2,177.55 | 263.01 |
| 2021 | 3 | 6.02% | 2,308.67 | 264.88 |
| 2021 | 4 | 0.76% | 2,326.22 | 267.05 |
| 2021 | 5 | 1.81% | 2,368.34 | 269.20 |
| 2021 | 6 | 3.07% | 2,441.00 | 271.70 |
| 2021 | 7 | 2.19% | 2,494.34 | 273.00 |
| 2021 | 8 | -0.08% | 2,492.24 | 273.57 |
| 2021 | 9 | 0.45% | 2,503.51 | 274.31 |
| 2021 | 10 | 4.74% | 2,622.29 | 276.59 |
| 2021 | 11 | 0.27% | 2,629.25 | 277.95 |
| 2021 | 12 | -2.05% | 2,575.30 | 278.80 |
| 2022 | 1 | -2.90% | 2,500.55 | 281.15 |
| 2022 | 2 | -0.89% | 2,478.23 | 283.72 |
| 2022 | 3 | 0.12% | 2,481.16 | 287.50 |
| 2022 | 4 | -7.87% | 2,285.83 | 289.11 |
| 2022 | 5 | -3.37% | 2,208.81 | 292.30 |
| 2022 | 6 | 0.46% | 2,219.07 | 296.31 |
| 2022 | 7 | 6.45% | 2,362.14 | 296.28 |
| 2022 | 8 | -7.28% | 2,190.24 | 296.17 |
| 2022 | 9 | -3.09% | 2,122.54 | 296.81 |
| 2022 | 10 | 5.29% | 2,234.72 | 298.01 |
| 2022 | 11 | 0.01% | 2,234.96 | 297.71 |
| 2022 | 12 | 1.38% | 2,265.72 | 296.80 |
| 2023 | 1 | 3.15% | 2,337.02 | 299.17 |
| 2023 | 2 | -2.59% | 2,276.60 | 300.84 |
| 2023 | 3 | 4.00% | 2,367.58 | 301.84 |
| 2023 | 4 | 0.74% | 2,385.04 | 303.36 |
| 2023 | 5 | 4.94% | 2,502.92 | 304.13 |
| 2023 | 6 | 3.88% | 2,599.93 | 305.11 |
| 2023 | 7 | -1.13% | 2,570.68 | 305.69 |
| 2023 | 8 | 1.31% | 2,604.37 | 307.03 |
Click to show 390 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 $100.00 up-front. Instead, the capital is invested over a period of time.
Consider a strategy in which $100.00 was invested in the S&P 500 over a period of no more than 24 months beginning in 1990. This would result in a final amount of $2,421.09, including dividend reinvestments. In this particular case, dollar-cost average returns are less than the returns of a lump-sum investment (which ends with $2,604.37).
| Year | Month | Contribution ($) | Amount ($) |
|---|---|---|---|
| 1990 | 1 | 4.16 | 4.04 |
| 1990 | 2 | 4.16 | 8.41 |
| 1990 | 3 | 4.16 | 12.59 |
| 1990 | 4 | 4.16 | 17.38 |
| 1990 | 5 | 4.16 | 22.21 |
| 1990 | 6 | 4.16 | 26.40 |
| 1990 | 7 | 4.16 | 28.15 |
| 1990 | 8 | 4.16 | 30.90 |
| 1990 | 9 | 4.16 | 34.23 |
| 1990 | 10 | 4.16 | 39.52 |
| 1990 | 11 | 4.16 | 45.67 |
| 1990 | 12 | 4.16 | 49.48 |
| 1991 | 1 | 4.16 | 59.85 |
| 1991 | 2 | 4.16 | 65.95 |
| 1991 | 3 | 4.16 | 71.68 |
| 1991 | 4 | 4.16 | 75.70 |
| 1991 | 5 | 4.16 | 80.12 |
| 1991 | 6 | 4.16 | 84.93 |
| 1991 | 7 | 4.16 | 91.46 |
| 1991 | 8 | 4.16 | 95.32 |
| 1991 | 9 | 4.16 | 99.65 |
| 1991 | 10 | 4.16 | 103.82 |
| 1991 | 11 | 4.16 | 108.98 |
| 1991 | 12 | 4.32 | 121.62 |
| 1992 | 1 | - | 120.89 |
| 1992 | 2 | - | 119.67 |
| 1992 | 3 | - | 119.98 |
| 1992 | 4 | - | 122.46 |
| 1992 | 5 | - | 120.84 |
| 1992 | 6 | - | 123.15 |
| 1992 | 7 | - | 124.31 |
| 1992 | 8 | - | 124.78 |
| 1992 | 9 | - | 123.30 |
| 1992 | 10 | - | 126.70 |
| 1992 | 11 | - | 130.85 |
| 1992 | 12 | - | 131.03 |
| 1993 | 1 | - | 133.29 |
| 1993 | 2 | - | 136.16 |
| 1993 | 3 | - | 134.33 |
| 1993 | 4 | - | 135.31 |
| 1993 | 5 | - | 136.48 |
| 1993 | 6 | - | 136.56 |
| 1993 | 7 | - | 138.97 |
| 1993 | 8 | - | 140.85 |
| 1993 | 9 | - | 142.60 |
| 1993 | 10 | - | 142.61 |
| 1993 | 11 | - | 143.87 |
| 1993 | 12 | - | 146.37 |
| 1994 | 1 | - | 146.26 |
| 1994 | 2 | - | 144.18 |
| 1994 | 3 | - | 139.35 |
| 1994 | 4 | - | 140.83 |
| 1994 | 5 | - | 142.39 |
| 1994 | 6 | - | 141.65 |
| 1994 | 7 | - | 146.02 |
| 1994 | 8 | - | 147.21 |
| 1994 | 9 | - | 146.56 |
| 1994 | 10 | - | 146.01 |
| 1994 | 11 | - | 144.52 |
| 1994 | 12 | - | 148.06 |
| 1995 | 1 | - | 153.71 |
| 1995 | 2 | - | 157.65 |
| 1995 | 3 | - | 162.71 |
| 1995 | 4 | - | 168.16 |
| 1995 | 5 | - | 173.51 |
| 1995 | 6 | - | 179.66 |
| 1995 | 7 | - | 180.58 |
| 1995 | 8 | - | 187.30 |
| 1995 | 9 | - | 189.01 |
| 1995 | 10 | - | 193.46 |
| 1995 | 11 | - | 200.02 |
| 1995 | 12 | - | 200.35 |
| 1996 | 1 | - | 212.18 |
| 1996 | 2 | - | 211.75 |
| 1996 | 3 | - | 212.17 |
| 1996 | 4 | - | 217.16 |
| 1996 | 5 | - | 219.94 |
| 1996 | 6 | - | 212.29 |
| 1996 | 7 | - | 218.82 |
| 1996 | 8 | - | 223.25 |
| 1996 | 9 | - | 232.45 |
| 1996 | 10 | - | 244.19 |
| 1996 | 11 | - | 247.12 |
| 1996 | 12 | - | 255.17 |
| 1997 | 1 | - | 266.30 |
| 1997 | 2 | - | 264.63 |
| 1997 | 3 | - | 255.62 |
| 1997 | 4 | - | 279.19 |
| 1997 | 5 | - | 294.09 |
| 1997 | 6 | - | 310.95 |
| 1997 | 7 | - | 312.04 |
| 1997 | 8 | - | 315.76 |
| 1997 | 9 | - | 320.95 |
| 1997 | 10 | - | 317.25 |
| 1997 | 11 | - | 325.61 |
| 1997 | 12 | - | 326.38 |
| 1998 | 1 | - | 347.28 |
| 1998 | 2 | - | 365.73 |
| 1998 | 3 | - | 378.18 |
| 1998 | 4 | - | 377.35 |
| 1998 | 5 | - | 377.79 |
| 1998 | 6 | - | 394.66 |
| 1998 | 7 | - | 367.15 |
| 1998 | 8 | - | 349.17 |
| 1998 | 9 | - | 353.67 |
| 1998 | 10 | - | 392.49 |
| 1998 | 11 | - | 408.60 |
| 1998 | 12 | - | 429.22 |
| 1999 | 1 | - | 428.93 |
| 1999 | 2 | - | 441.47 |
| 1999 | 3 | - | 460.24 |
| 1999 | 4 | - | 459.78 |
| 1999 | 5 | - | 456.97 |
| 1999 | 6 | - | 477.63 |
| 1999 | 7 | - | 459.61 |
| 1999 | 8 | - | 456.86 |
| 1999 | 9 | - | 451.05 |
| 1999 | 10 | - | 483.10 |
| 1999 | 11 | - | 496.67 |
| 1999 | 12 | - | 496.07 |
| 2000 | 1 | - | 483.78 |
| 2000 | 2 | - | 502.85 |
| 2000 | 3 | - | 510.01 |
| 2000 | 4 | - | 495.53 |
| 2000 | 5 | - | 511.21 |
| 2000 | 6 | - | 515.56 |
| 2000 | 7 | - | 520.40 |
| 2000 | 8 | - | 514.78 |
| 2000 | 9 | - | 487.94 |
| 2000 | 10 | - | 484.17 |
| 2000 | 11 | - | 468.10 |
| 2000 | 12 | - | 470.23 |
| 2001 | 1 | - | 460.18 |
| 2001 | 2 | - | 418.40 |
| 2001 | 3 | - | 420.27 |
| 2001 | 4 | - | 449.19 |
| 2001 | 5 | - | 438.46 |
| 2001 | 6 | - | 426.79 |
| 2001 | 7 | - | 418.06 |
| 2001 | 8 | - | 371.04 |
| 2001 | 9 | - | 382.85 |
| 2001 | 10 | - | 402.20 |
| 2001 | 11 | - | 408.10 |
| 2001 | 12 | - | 406.88 |
| 2002 | 1 | - | 393.24 |
| 2002 | 2 | - | 412.69 |
| 2002 | 3 | - | 398.18 |
| 2002 | 4 | - | 386.95 |
| 2002 | 5 | - | 364.04 |
| 2002 | 6 | - | 324.88 |
| 2002 | 7 | - | 328.58 |
| 2002 | 8 | - | 312.94 |
| 2002 | 9 | - | 308.67 |
| 2002 | 10 | - | 329.12 |
| 2002 | 11 | - | 325.71 |
| 2002 | 12 | - | 324.98 |
| 2003 | 1 | - | 304.14 |
| 2003 | 2 | - | 308.12 |
| 2003 | 3 | - | 324.40 |
| 2003 | 4 | - | 341.63 |
| 2003 | 5 | - | 361.12 |
| 2003 | 6 | - | 363.27 |
| 2003 | 7 | - | 362.67 |
| 2003 | 8 | - | 374.13 |
| 2003 | 9 | - | 381.72 |
| 2003 | 10 | - | 386.34 |
| 2003 | 11 | - | 398.18 |
| 2003 | 12 | - | 417.83 |
| 2004 | 1 | - | 422.37 |
| 2004 | 2 | - | 415.76 |
| 2004 | 3 | - | 419.78 |
| 2004 | 4 | - | 409.02 |
| 2004 | 5 | - | 420.71 |
| 2004 | 6 | - | 411.29 |
| 2004 | 7 | - | 405.58 |
| 2004 | 8 | - | 416.87 |
| 2004 | 9 | - | 417.30 |
| 2004 | 10 | - | 437.22 |
| 2004 | 11 | - | 449.14 |
| 2004 | 12 | - | 443.08 |
| 2005 | 1 | - | 450.53 |
| 2005 | 2 | - | 449.38 |
| 2005 | 3 | - | 438.55 |
| 2005 | 4 | - | 444.41 |
| 2005 | 5 | - | 454.10 |
| 2005 | 6 | - | 462.31 |
| 2005 | 7 | - | 463.75 |
| 2005 | 8 | - | 465.04 |
| 2005 | 9 | - | 452.84 |
| 2005 | 10 | - | 470.78 |
| 2005 | 11 | - | 480.87 |
| 2005 | 12 | - | 487.93 |
| 2006 | 1 | - | 487.85 |
| 2006 | 2 | - | 495.10 |
| 2006 | 3 | - | 499.05 |
| 2006 | 4 | - | 495.12 |
| 2006 | 5 | - | 481.73 |
| 2006 | 6 | - | 485.19 |
| 2006 | 7 | - | 496.31 |
| 2006 | 8 | - | 508.88 |
| 2006 | 9 | - | 527.28 |
| 2006 | 10 | - | 537.83 |
| 2006 | 11 | - | 549.39 |
| 2006 | 12 | - | 553.19 |
| 2007 | 1 | - | 562.02 |
| 2007 | 2 | - | 548.12 |
| 2007 | 3 | - | 571.03 |
| 2007 | 4 | - | 590.40 |
| 2007 | 5 | - | 592.43 |
| 2007 | 6 | - | 595.84 |
| 2007 | 7 | - | 570.81 |
| 2007 | 8 | - | 588.36 |
| 2007 | 9 | - | 605.96 |
| 2007 | 10 | - | 576.83 |
| 2007 | 11 | - | 583.98 |
| 2007 | 12 | - | 545.23 |
| 2008 | 1 | - | 536.70 |
| 2008 | 2 | - | 522.60 |
| 2008 | 3 | - | 544.78 |
| 2008 | 4 | - | 558.74 |
| 2008 | 5 | - | 535.02 |
| 2008 | 6 | - | 502.49 |
| 2008 | 7 | - | 513.10 |
| 2008 | 8 | - | 488.23 |
| 2008 | 9 | - | 389.64 |
| 2008 | 10 | - | 356.11 |
| 2008 | 11 | - | 354.86 |
| 2008 | 12 | - | 350.97 |
| 2009 | 1 | - | 327.45 |
| 2009 | 2 | - | 308.82 |
| 2009 | 3 | - | 346.87 |
| 2009 | 4 | - | 369.98 |
| 2009 | 5 | - | 380.59 |
| 2009 | 6 | - | 385.45 |
| 2009 | 7 | - | 416.75 |
| 2009 | 8 | - | 431.97 |
| 2009 | 9 | - | 442.35 |
| 2009 | 10 | - | 451.61 |
| 2009 | 11 | - | 461.66 |
| 2009 | 12 | - | 467.93 |
| 2010 | 1 | - | 454.37 |
| 2010 | 2 | - | 481.37 |
| 2010 | 3 | - | 501.05 |
| 2010 | 4 | - | 471.57 |
| 2010 | 5 | - | 454.86 |
| 2010 | 6 | - | 454.14 |
| 2010 | 7 | - | 458.06 |
| 2010 | 8 | - | 473.50 |
| 2010 | 9 | - | 495.18 |
| 2010 | 10 | - | 507.51 |
| 2010 | 11 | - | 526.36 |
| 2010 | 12 | - | 544.58 |
| 2011 | 1 | - | 561.74 |
| 2011 | 2 | - | 555.49 |
| 2011 | 3 | - | 567.83 |
| 2011 | 4 | - | 571.57 |
| 2011 | 5 | - | 550.64 |
| 2011 | 6 | - | 567.72 |
| 2011 | 7 | - | 508.67 |
| 2011 | 8 | - | 504.66 |
| 2011 | 9 | - | 519.89 |
| 2011 | 10 | - | 529.08 |
| 2011 | 11 | - | 537.31 |
| 2011 | 12 | - | 563.00 |
| 2012 | 1 | - | 586.44 |
| 2012 | 2 | - | 603.35 |
| 2012 | 3 | - | 603.12 |
| 2012 | 4 | - | 584.48 |
| 2012 | 5 | - | 577.74 |
| 2012 | 6 | - | 594.62 |
| 2012 | 7 | - | 614.76 |
| 2012 | 8 | - | 633.33 |
| 2012 | 9 | - | 631.96 |
| 2012 | 10 | - | 614.03 |
| 2012 | 11 | - | 627.39 |
| 2012 | 12 | - | 654.17 |
| 2013 | 1 | - | 669.43 |
| 2013 | 2 | - | 687.65 |
| 2013 | 3 | - | 697.65 |
| 2013 | 4 | - | 729.56 |
| 2013 | 5 | - | 721.41 |
| 2013 | 6 | - | 744.89 |
| 2013 | 7 | - | 746.77 |
| 2013 | 8 | - | 755.67 |
| 2013 | 9 | - | 771.68 |
| 2013 | 10 | - | 801.46 |
| 2013 | 11 | - | 813.66 |
| 2013 | 12 | - | 821.53 |
| 2014 | 1 | - | 820.46 |
| 2014 | 2 | - | 842.80 |
| 2014 | 3 | - | 844.50 |
| 2014 | 4 | - | 857.44 |
| 2014 | 5 | - | 884.84 |
| 2014 | 6 | - | 898.08 |
| 2014 | 7 | - | 894.24 |
| 2014 | 8 | - | 910.14 |
| 2014 | 9 | - | 886.06 |
| 2014 | 10 | - | 936.61 |
| 2014 | 11 | - | 942.55 |
| 2014 | 12 | - | 932.09 |
| 2015 | 1 | - | 958.44 |
| 2015 | 2 | - | 958.97 |
| 2015 | 3 | - | 967.39 |
| 2015 | 4 | - | 976.86 |
| 2015 | 5 | - | 972.61 |
| 2015 | 6 | - | 971.84 |
| 2015 | 7 | - | 948.27 |
| 2015 | 8 | - | 905.54 |
| 2015 | 9 | - | 944.63 |
| 2015 | 10 | - | 972.33 |
| 2015 | 11 | - | 961.60 |
| 2015 | 12 | - | 899.87 |
| 2016 | 1 | - | 894.92 |
| 2016 | 2 | - | 951.87 |
| 2016 | 3 | - | 978.82 |
| 2016 | 4 | - | 975.84 |
| 2016 | 5 | - | 986.24 |
| 2016 | 6 | - | 1,018.77 |
| 2016 | 7 | - | 1,030.98 |
| 2016 | 8 | - | 1,026.46 |
| 2016 | 9 | - | 1,021.27 |
| 2016 | 10 | - | 1,033.53 |
| 2016 | 11 | - | 1,074.32 |
| 2016 | 12 | - | 1,089.76 |
| 2017 | 1 | - | 1,117.84 |
| 2017 | 2 | - | 1,137.39 |
| 2017 | 3 | - | 1,135.64 |
| 2017 | 4 | - | 1,154.86 |
| 2017 | 5 | - | 1,175.37 |
| 2017 | 6 | - | 1,186.99 |
| 2017 | 7 | - | 1,189.93 |
| 2017 | 8 | - | 1,209.60 |
| 2017 | 9 | - | 1,242.68 |
| 2017 | 10 | - | 1,262.43 |
| 2017 | 11 | - | 1,298.84 |
| 2017 | 12 | - | 1,361.98 |
| 2018 | 1 | - | 1,322.67 |
| 2018 | 2 | - | 1,323.52 |
| 2018 | 3 | - | 1,301.50 |
| 2018 | 4 | - | 1,327.03 |
| 2018 | 5 | - | 1,355.07 |
| 2018 | 6 | - | 1,376.49 |
| 2018 | 7 | - | 1,410.22 |
| 2018 | 8 | - | 1,433.91 |
| 2018 | 9 | - | 1,378.72 |
| 2018 | 10 | - | 1,350.10 |
| 2018 | 11 | - | 1,275.00 |
| 2018 | 12 | - | 1,297.13 |
| 2019 | 1 | - | 1,372.74 |
| 2019 | 2 | - | 1,399.48 |
| 2019 | 3 | - | 1,451.58 |
| 2019 | 4 | - | 1,429.35 |
| 2019 | 5 | - | 1,449.43 |
| 2019 | 6 | - | 1,504.90 |
| 2019 | 7 | - | 1,457.73 |
| 2019 | 8 | - | 1,502.71 |
| 2019 | 9 | - | 1,502.85 |
| 2019 | 10 | - | 1,569.48 |
| 2019 | 11 | - | 1,608.24 |
| 2019 | 12 | - | 1,662.06 |
| 2020 | 1 | - | 1,664.09 |
| 2020 | 2 | - | 1,349.28 |
| 2020 | 3 | - | 1,407.55 |
| 2020 | 4 | - | 1,490.42 |
| 2020 | 5 | - | 1,587.42 |
| 2020 | 6 | - | 1,642.60 |
| 2020 | 7 | - | 1,739.41 |
| 2020 | 8 | - | 1,728.50 |
| 2020 | 9 | - | 1,758.34 |
| 2020 | 10 | - | 1,827.87 |
| 2020 | 11 | - | 1,905.73 |
| 2020 | 12 | - | 1,959.00 |
| 2021 | 1 | - | 2,007.81 |
| 2021 | 2 | - | 2,024.31 |
| 2021 | 3 | - | 2,146.20 |
| 2021 | 4 | - | 2,162.51 |
| 2021 | 5 | - | 2,201.67 |
| 2021 | 6 | - | 2,269.22 |
| 2021 | 7 | - | 2,318.80 |
| 2021 | 8 | - | 2,316.84 |
| 2021 | 9 | - | 2,327.32 |
| 2021 | 10 | - | 2,437.75 |
| 2021 | 11 | - | 2,444.22 |
| 2021 | 12 | - | 2,394.06 |
| 2022 | 1 | - | 2,324.57 |
| 2022 | 2 | - | 2,303.82 |
| 2022 | 3 | - | 2,306.55 |
| 2022 | 4 | - | 2,124.96 |
| 2022 | 5 | - | 2,053.36 |
| 2022 | 6 | - | 2,062.90 |
| 2022 | 7 | - | 2,195.91 |
| 2022 | 8 | - | 2,036.10 |
| 2022 | 9 | - | 1,973.16 |
| 2022 | 10 | - | 2,077.45 |
| 2022 | 11 | - | 2,077.67 |
| 2022 | 12 | - | 2,106.27 |
| 2023 | 1 | - | 2,172.55 |
| 2023 | 2 | - | 2,116.38 |
| 2023 | 3 | - | 2,200.96 |
| 2023 | 4 | - | 2,217.20 |
| 2023 | 5 | - | 2,326.77 |
| 2023 | 6 | - | 2,416.96 |
| 2023 | 7 | - | 2,389.77 |
| 2023 | 8 | - | 2,421.09 |
Click to show 390 more rows
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.
I'm an investment expert with a deep understanding of the stock market and financial markets. My expertise extends to analyzing historical stock market data, understanding investment strategies, and interpreting financial indicators. To demonstrate my knowledge, I'll delve into the concepts presented in the provided article about stock market returns since 1990.
Overview: The article discusses the performance of a $100 investment in the S&P 500 from 1990 to 2023. It highlights the cumulative return on investment, both nominal and inflation-adjusted, and presents data on monthly returns and the impact of reinvesting dividends.
Adjusting for Inflation: The nominal return on the $100 investment is stated as $2,504.37, or 2,504.37%. However, the article emphasizes the importance of adjusting for inflation to determine the real (inflation-adjusted) value. It uses the Consumer Price Index (CPI) to convert the returns to their real value, considering the changing buying power of the dollar over the 33-year period.
Full Monthly Data: The table provides a detailed monthly breakdown of the investment, including gains and losses, average closing prices, and returns. The data spans the entire 404-month period from 1990 to 2023.
Dollar-Cost Averaging: The article introduces the concept of dollar-cost averaging as an alternative investment strategy. It compares the results of investing $100 in the S&P 500 using a dollar-cost averaging approach over a 24-month period, resulting in a final amount of $2,421.09.
In dollar-cost averaging, the capital is invested gradually over time, mitigating the impact of market volatility. The provided table shows the monthly contributions and resulting amounts for this strategy.
The article concludes with a visual representation of the investment's performance over time, showing a graph and a chart illustrating gains and losses by month, including dividends.
As an expert, I would advise investors to consider various factors such as inflation, market trends, and their risk tolerance when making investment decisions. The historical data presented in the article provides valuable insights into the long-term performance of the S&P 500 and different investment strategies.
