Inflation-Adjusted S&P 500

The S&P 500 index tracks the performance of 500 large US companies, but its headline number (nominal value) doesn't account for the changing purchasing power of the dollar over time. This page adjusts the historical S&P 500 index level for inflation using the US Consumer Price Index, the same data used to calculate US inflation rates, allowing for a more accurate comparison of the index's performance over time.

Explore the charts and data below to understand the S&P 500's real performance, compare nominal versus inflation-adjusted returns, and see how its long-term growth looks after accounting for inflation.

Adjusted prices baseline: May 2026 (latest available CPI).

The current value of the S&P 500 index is 7,431.46 (as of the close of Jun 12, 2026), 2.34% lower than the all-time high of 7,609.78 (Jun 2, 2026).

Since December 30, 1927, the inflation-adjusted total return for the index has been 2,072%, which is equivalent to an annual growth rate of 3.18%.

In nominal values, the total return since this date has been 41,981%, or an annualized rate of 6.33%.

Inflation-Adjusted Values by Month

This data presents the S&P 500 index's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power based on the latest CPI data, the same present-value method used by the US Inflation Calculator to compare dollar amounts across different years. The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date Inflation-Adjusted Nominal value
Jun 2026 7,431.46 7,431.46
May 2026 7,580.06 7,580.06
Apr 2026 7,254.53 7,209.01
Mar 2026 6,625.59 6,528.52
Feb 2026 7,054.4 6,878.88
Jan 2026 7,149.62 6,939.03
Dec 2025 7,079.33 6,845.5
Nov 2025 7,081.55 6,849.09
Oct 2025 6,840.2 6,840.2
Sep 2025 6,901.04 6,688.46
Aug 2025 6,682.54 6,460.26
Jul 2025 6,576.35 6,339.39
Jun 2025 6,446.6 6,204.95
May 2025 6,162.86 5,911.69
Apr 2025 5,817.8 5,569.06
Mar 2025 5,880.76 5,611.85
Feb 2025 6,253.85 5,954.5
Jan 2025 6,372.38 6,040.53
Dec 2024 6,245.37 5,881.63
Nov 2024 6,407.72 6,032.38
Oct 2024 6,057.16 5,705.45
Sep 2024 6,124.75 5,762.48
Aug 2024 6,013.13 5,648.4
Jul 2024 5,883.67 5,522.3
Jun 2024 5,824.56 5,460.48
May 2024 5,631.29 5,277.51
Apr 2024 5,382.19 5,035.69
Mar 2024 5,637.76 5,254.35
Feb 2024 5,503.49 5,096.27
Jan 2024 5,265.24 4,845.65
Dec 2023 5,211.09 4,769.83
Nov 2023 4,985.41 4,567.8
Oct 2023 4,567.99 4,193.8
Sep 2023 4,668.86 4,288.05
Aug 2023 4,920.17 4,507.66
Jul 2023 5,030.79 4,588.96
Jun 2023 4,888.17 4,450.38
May 2023 4,605.83 4,179.83
Apr 2023 4,606 4,169.48
Mar 2023 4,562.49 4,109.31
Feb 2023 4,422.58 3,970.15
Jan 2023 4,566.51 4,076.6
Dec 2022 4,335.3 3,839.5
Nov 2022 4,592.84 4,080.11
Oct 2022 4,354.15 3,871.98
Sep 2022 4,048.49 3,585.62
Aug 2022 4,475.16 3,955
Jul 2022 4,671.84 4,130.29
Jun 2022 4,281.2 3,785.38
May 2022 4,737.59 4,132.15
Apr 2022 4,789.56 4,131.93
Mar 2022 5,280.78 4,530.41
Feb 2022 5,166.46 4,373.94
Jan 2022 5,382.45 4,515.55
Dec 2021 5,729 4,766.18
Nov 2021 5,506.45 4,567
Oct 2021 5,580.01 4,605.38
Sep 2021 5,262.5 4,307.54
Aug 2021 5,540.34 4,522.68
Jul 2021 5,395.37 4,395.26
Jun 2021 5,300.74 4,297.5
May 2021 5,233.73 4,204.11
Apr 2021 5,246.9 4,181.17
Mar 2021 5,026.51 3,972.89
Feb 2021 4,856.03 3,811.15
Jan 2021 4,758.46 3,714.24
Dec 2020 4,832.52 3,756.07
Nov 2020 4,663.94 3,621.63
Oct 2020 4,208.48 3,269.96
Sep 2020 4,330.02 3,363
Aug 2020 4,513.09 3,500.31
Jul 2020 4,230.89 3,271.12
Jun 2020 4,030.22 3,100.29
May 2020 3,979.1 3,044.31
Apr 2020 3,806.8 2,912.43
Mar 2020 3,355.7 2,584.59
Feb 2020 3,827.26 2,954.22
Jan 2020 4,190.18 3,225.52
Dec 2019 4,213.3 3,230.78
Nov 2019 4,092.46 3,140.98
Oct 2019 3,955.59 3,037.56
Sep 2019 3,885.25 2,976.74
Aug 2019 3,822.62 2,926.46
Jul 2019 3,892.86 2,980.38
Jun 2019 3,848.83 2,941.76
May 2019 3,601.36 2,752.06
Apr 2019 3,863.13 2,945.83
Mar 2019 3,736.68 2,834.4
Feb 2019 3,691.6 2,784.49
Jan 2019 3,600.17 2,704.1
Dec 2018 3,343.92 2,506.85
Nov 2018 3,670.07 2,760.17
Oct 2018 3,593.6 2,711.74
Sep 2018 3,868.43 2,913.98
Aug 2018 3,856.36 2,901.52
Jul 2018 3,745.16 2,816.29
Jun 2018 3,615.19 2,718.37
May 2018 3,603.5 2,705.27
Apr 2018 3,541.95 2,648.05
Mar 2018 3,546.39 2,640.87
Feb 2018 3,652.61 2,713.83
Jan 2018 3,817.87 2,823.81
Dec 2017 3,634.49 2,673.61
Nov 2017 3,596.99 2,647.58
Oct 2017 3,498.82 2,575.26
Sep 2017 3,420.71 2,519.36
Aug 2017 3,373.7 2,471.65
Jul 2017 3,381.95 2,470.3
Jun 2017 3,315.47 2,423.41
May 2017 3,302.58 2,411.8
Apr 2017 3,267.57 2,384.2
Mar 2017 3,247.74 2,362.72
Feb 2017 3,251.64 2,363.64
Jan 2017 3,144.89 2,278.87
Dec 2016 3,107.64 2,238.83
Nov 2016 3,053.09 2,198.81
Oct 2016 2,947.61 2,126.15
Sep 2016 3,009.75 2,168.27
Aug 2016 3,020.71 2,170.95
Jul 2016 3,027.18 2,173.6
Jun 2016 2,918.36 2,098.86
May 2016 2,925.29 2,096.96
Apr 2016 2,892.78 2,065.3
Mar 2016 2,898.67 2,059.74
Feb 2016 2,730.93 1,932.23
Jan 2016 2,744.51 1,940.24
Dec 2015 2,895.98 2,043.94
Nov 2015 2,937.58 2,080.41
Oct 2015 2,929.9 2,079.36
Sep 2015 2,704.18 1,920.03
Aug 2015 2,773.3 1,972.18
Jul 2015 2,954.26 2,103.84
Jun 2015 2,897.26 2,063.11
May 2015 2,969.81 2,107.39
Apr 2015 2,953.95 2,085.51
Mar 2015 2,934.95 2,067.89
Feb 2015 3,004.69 2,104.5
Jan 2015 2,860.71 1,994.99
Dec 2014 2,938.46 2,058.9
Nov 2014 2,934.08 2,067.56
Oct 2014 2,848.36 2,018.05
Sep 2014 2,776.78 1,972.29
Aug 2014 2,822.66 2,003.37
Jul 2014 2,715.68 1,930.67
Jun 2014 2,756.19 1,960.23
May 2014 2,709.68 1,923.57
Apr 2014 2,663.14 1,883.95
Mar 2014 2,655.45 1,872.34
Feb 2014 2,654.15 1,859.45
Jan 2014 2,553.85 1,782.59
Dec 2013 2,657.93 1,848.36
Nov 2013 2,596.52 1,805.81
Oct 2013 2,520.52 1,756.54
Sep 2013 2,406.7 1,681.55
Aug 2013 2,339.89 1,632.97
Jul 2013 2,418.39 1,685.73
Jun 2013 2,305.32 1,606.28
May 2013 2,346.04 1,630.74
Apr 2013 2,302.41 1,597.57
Mar 2013 2,259.16 1,569.19
Feb 2013 2,186.38 1,514.68
Jan 2013 2,180.18 1,498.11
Dec 2012 2,081.65 1,426.19
Nov 2012 2,061.47 1,416.18
Oct 2012 2,045.88 1,412.16
Sep 2012 2,086.37 1,440.67
Aug 2012 2,046.09 1,406.58
Jul 2012 2,017.61 1,379.32
Jun 2012 1,989.26 1,362.16
May 2012 1,910.76 1,310.33
Apr 2012 2,036.08 1,397.91
Mar 2012 2,057.66 1,408.47
Feb 2012 2,010.3 1,365.68
Jan 2012 1,940.39 1,312.41
Dec 2011 1,867.54 1,257.6
Nov 2011 1,847.17 1,246.96
Oct 2011 1,854.99 1,253.3
Sep 2011 1,671.15 1,131.42
Aug 2011 1,803.08 1,218.89
Jul 2011 1,916.91 1,292.28
Jun 2011 1,960.72 1,320.64
May 2011 1,995.04 1,345.2
Apr 2011 2,031.86 1,363.61
Mar 2011 1,988.29 1,325.83
Feb 2011 2,009.78 1,327.22
Jan 2011 1,957.15 1,286.12
Dec 2010 1,922.92 1,257.64
Nov 2010 1,808.15 1,180.55
Oct 2010 1,813.07 1,183.26
Sep 2010 1,750.8 1,141.2
Aug 2010 1,610.79 1,049.33
Jul 2010 1,693.36 1,101.6
Jun 2010 1,584.73 1,030.71
May 2010 1,673.34 1,089.41
Apr 2010 1,824.18 1,186.69
Mar 2010 1,800.77 1,169.43
Feb 2010 1,707.75 1,104.49
Jan 2010 1,660.82 1,073.87
Dec 2009 1,730.48 1,115.1
Nov 2009 1,697.27 1,095.63
Oct 2009 1,606.33 1,036.19
Sep 2009 1,640.29 1,057.08
Aug 2009 1,584.71 1,020.62
Jul 2009 1,536.69 987.48
Jun 2009 1,428.35 919.32
May 2009 1,440.34 919.14
Apr 2009 1,371.69 872.81
Mar 2009 1,257.04 797.87
Feb 2009 1,160.95 735.09
Jan 2009 1,310.82 825.88
Dec 2008 1,439.86 903.25
Nov 2008 1,413.91 896.24
Oct 2008 1,499.03 968.75
Sep 2008 1,786.58 1,166.36
Aug 2008 1,962.27 1,282.83
Jul 2008 1,930.9 1,267.38
Jun 2008 1,960.37 1,280
May 2008 2,166.34 1,400.38
Apr 2008 2,161.51 1,385.59
Mar 2008 2,075.92 1,322.7
Feb 2008 2,106.47 1,330.63
Jan 2008 2,188.67 1,378.55
Dec 2007 2,342.84 1,468.36
Nov 2007 2,361.65 1,481.14
Oct 2007 2,485.13 1,549.38
Sep 2007 2,454.07 1,526.75
Aug 2007 2,375.79 1,473.99
Jul 2007 2,341.32 1,455.27
Jun 2007 2,418.06 1,503.35
May 2007 2,466.69 1,530.62
Apr 2007 2,403.53 1,482.37
Mar 2007 2,318.76 1,420.86
Feb 2007 2,316.76 1,406.82
Jan 2007 2,381.17 1,438.24
Dec 2006 2,355.33 1,418.3
Nov 2006 2,329.45 1,400.63
Oct 2006 2,288.3 1,377.94
Sep 2006 2,206.38 1,335.85
Aug 2006 2,142.91 1,303.82
Jul 2006 2,102.4 1,276.66
Jun 2006 2,097.95 1,270.2
May 2006 2,101.91 1,270.09
Apr 2006 2,179.73 1,310.61
Mar 2006 2,171.88 1,294.87
Feb 2006 2,159.93 1,280.66
Jan 2006 2,163.31 1,280.08
Dec 2005 2,125.66 1,248.29
Nov 2005 2,119.08 1,249.48
Oct 2005 2,030.61 1,207.01
Sep 2005 2,071.44 1,228.81
Aug 2005 2,082.28 1,220.33
Jul 2005 2,116.69 1,234.18
Jun 2005 2,052.66 1,191.33
May 2005 2,054.01 1,191.5
Apr 2005 1,992.23 1,156.85
Mar 2005 2,046.78 1,180.59
Feb 2005 2,102.99 1,203.6
Jan 2005 2,075.88 1,181.27
Dec 2004 2,134.22 1,211.92
Nov 2004 2,059.55 1,173.82
Oct 2004 1,984.05 1,130.2
Sep 2004 1,966.94 1,114.58
Aug 2004 1,952.8 1,104.24
Jul 2004 1,949.38 1,101.72
Jun 2004 2,015.4 1,140.84
May 2004 1,986.07 1,120.68
Apr 2004 1,973.84 1,107.3
Mar 2004 2,013.97 1,126.21
Feb 2004 2,060.66 1,144.94
Jan 2004 2,046.8 1,131.13
Dec 2003 2,021.87 1,111.92
Nov 2003 1,922.1 1,058.2
Oct 2003 1,903.34 1,050.71
Sep 2003 1,802.23 995.97
Aug 2003 1,829.94 1,008.01
Jul 2003 1,804.65 990.31
Jun 2003 1,777.78 974.5
May 2003 1,759.79 963.59
Apr 2003 1,671.82 916.92
Mar 2003 1,543.13 848.18
Feb 2003 1,539.53 841.15
Jan 2003 1,578.23 855.7
Dec 2002 1,629.89 879.82
Nov 2002 1,730.72 936.31
Oct 2002 1,637.28 885.76
Sep 2002 1,509.5 815.28
Aug 2002 1,698.93 916.07
Jul 2002 1,696.31 911.62
Jun 2002 1,843.87 989.82
May 2002 1,989.01 1,067.14
Apr 2002 2,007.23 1,076.92
Mar 2002 2,150.54 1,147.39
Feb 2002 2,086 1,106.73
Jan 2002 2,138.66 1,130.2
Dec 2001 2,177.41 1,148.08
Nov 2001 2,152.51 1,139.45
Oct 2001 1,998.63 1,059.78
Sep 2001 1,956.49 1,040.94
Aug 2001 2,140.22 1,133.58
Jul 2001 2,286.82 1,211.23
Jun 2001 2,305.16 1,224.38
May 2001 2,368.34 1,255.82
Apr 2001 2,367 1,249.46
Mar 2001 2,206.89 1,160.33
Feb 2001 2,363.67 1,239.94
Jan 2001 2,614.4 1,366.01
Dec 2000 2,542.85 1,320.28
Nov 2000 2,531.13 1,314.95
Oct 2000 2,753.02 1,429.4
Sep 2000 2,771.49 1,436.51
Aug 2000 2,943.34 1,517.68
Jul 2000 2,774.91 1,430.83
Jun 2000 2,827.55 1,454.6
May 2000 2,775.95 1,420.6
Apr 2000 2,841.46 1,452.43
Mar 2000 2,933.46 1,498.58
Feb 2000 2,696.81 1,366.42
Jan 2000 2,768.46 1,394.46
Dec 1999 2,925.61 1,469.25
Nov 1999 2,765.63 1,388.91
Oct 1999 2,715.51 1,362.93
Sep 1999 2,560.25 1,282.71
Aug 1999 2,648.11 1,320.41
Jul 1999 2,671.17 1,328.72
Jun 1999 2,767.91 1,372.71
May 1999 2,625.01 1,301.84
Apr 1999 2,692.24 1,335.18
Mar 1999 2,612.68 1,286.37
Feb 1999 2,522.75 1,238.33
Jan 1999 2,610.08 1,279.64
Dec 1998 2,513.38 1,229.23
Nov 1998 2,377.8 1,163.63
Oct 1998 2,245.06 1,098.67
Sep 1998 2,083.27 1,017.01
Aug 1998 1,963.32 957.28
Jul 1998 2,301.24 1,120.67
Jun 1998 2,331.14 1,133.84
May 1998 2,245.45 1,090.82
Apr 1998 2,292.76 1,111.75
Mar 1998 2,276.34 1,101.75
Feb 1998 2,172.07 1,049.34
Jan 1998 2,032.89 980.28
Dec 1997 2,016.2 970.43
Nov 1997 1,982.52 955.4
Oct 1997 1,896.72 914.62
Sep 1997 1,969.33 947.28
Aug 1997 1,874.58 899.47
Jul 1997 1,992.59 954.31
Jun 1997 1,850.47 885.14
May 1997 1,775.63 848.28
Apr 1997 1,676.33 801.34
Mar 1997 1,585.8 757.12
Feb 1997 1,660.54 790.82
Jan 1997 1,655.94 786.16
Dec 1996 1,565.19 740.74
Nov 1996 1,599.59 757.02
Oct 1996 1,493.07 705.27
Sep 1996 1,459.7 687.33
Aug 1996 1,389.05 651.99
Jul 1996 1,366 639.95
Jun 1996 1,434.23 670.63
May 1996 1,431.91 669.12
Apr 1996 1,402.61 654.17
Mar 1996 1,389.35 645.5
Feb 1996 1,385.56 640.43
Jan 1996 1,380.47 636.02
Dec 1995 1,344.71 615.93
Nov 1995 1,320.79 605.37
Oct 1995 1,267.89 581.5
Sep 1995 1,278.39 584.41
Aug 1995 1,231.52 561.88
Jul 1995 1,235.14 562.06
Jun 1995 1,197.1 544.75
May 1995 1,174.47 533.4
Apr 1995 1,135.56 514.71
Mar 1995 1,108.32 500.71
Feb 1995 1,082.41 487.39
Jan 1995 1,048.89 470.42
Dec 1994 1,028.14 459.27
Nov 1994 1,015.64 453.69
Oct 1994 1,058.83 472.35
Sep 1994 1,037.92 462.71
Aug 1994 1,069.45 475.49
Jul 1994 1,034.86 458.26
Jun 1994 1,005.98 444.27
May 1994 1,037.18 456.5
Apr 1994 1,025.17 450.91
Mar 1994 1,014.86 445.77
Feb 1994 1,067.14 467.14
Jan 1994 1,103.96 481.61
Dec 1993 1,072.14 466.45
Nov 1993 1,061.43 461.79
Oct 1993 1,076.05 467.83
Sep 1993 1,059.94 458.93
Aug 1993 1,072.86 463.56
Jul 1993 1,040.02 448.13
Jun 1993 1,045.59 450.53
May 1993 1,046.25 450.19
Apr 1993 1,024.43 440.19
Mar 1993 1,054.07 451.67
Feb 1993 1,038.34 443.38
Jan 1993 1,031.17 438.78
Dec 1992 1,029.01 435.71
Nov 1992 1,018 431.35
Oct 1992 989.49 418.68
Sep 1992 990.9 417.8
Aug 1992 984.75 414.03
Jul 1992 1,011.83 424.21
Jun 1992 975.59 408.14
May 1992 996.37 415.35
Apr 1992 996.84 414.95
Mar 1992 971.18 403.69
Feb 1992 997.87 412.7
Jan 1992 991.97 408.78
Dec 1991 1,013.61 417.09
Nov 1991 912.52 375.22
Oct 1991 957.2 392.45
Sep 1991 947.38 387.86
Aug 1991 970.11 395.43
Jul 1991 954.21 387.81
Jun 1991 914.59 371.16
May 1991 963.43 389.83
Apr 1991 930.36 375.34
Mar 1991 931.44 375.22
Feb 1991 912.56 367.07
Jan 1991 856.31 343.93
Dec 1990 827.09 330.22
Nov 1990 807.05 322.22
Oct 1990 763.13 304
Sep 1990 772.9 306.05
Aug 1990 821.41 322.56
Jul 1990 915.29 356.15
Jun 1990 923.64 358.02
May 1990 936.97 361.23
Apr 1990 860.04 330.8
Mar 1990 885.17 339.94
Feb 1990 868.94 331.89
Jan 1990 865.64 329.08
Dec 1989 939.19 353.4
Nov 1989 920.96 345.99
Oct 1989 908.14 340.36
Sep 1989 936.07 349.15
Aug 1989 945.26 351.45
Jul 1989 932.31 346.08
Jun 1989 858.68 317.98
May 1989 867.64 320.52
Apr 1989 842.95 309.64
Mar 1989 807.99 294.87
Feb 1989 796.08 288.86
Jan 1989 823.2 297.47
Dec 1988 772.37 277.72
Nov 1988 762.45 273.7
Oct 1988 777.78 278.97
Sep 1988 760.63 271.91
Aug 1988 736.48 261.52
Jul 1988 769.28 272.02
Jun 1988 776.75 273.5
May 1988 747.71 262.16
Apr 1988 747.89 261.33
Mar 1988 744.72 258.89
Feb 1988 773.73 267.82
Jan 1988 744.6 257.07
Dec 1987 717.52 247.08
Nov 1987 668.79 230.3
Oct 1987 731.84 251.79
Sep 1987 937.85 321.83
Aug 1987 966.12 329.8
Jul 1987 938.4 318.66
Jun 1987 897.6 304
May 1987 859.59 290.1
Apr 1987 857.46 288.36
Mar 1987 872.04 291.7
Feb 1987 853.42 284.2
Jan 1987 825.99 274.08
Dec 1986 734.45 242.17
Nov 1986 756.52 249.22
Oct 1986 741.28 243.98
Sep 1986 703.45 231.32
Aug 1986 772.68 252.93
Jul 1986 722.64 236.12
Jun 1986 767.69 250.84
May 1986 761.18 247.35
Apr 1986 726.78 235.52
Mar 1986 735.85 238.9
Feb 1986 695.76 226.92
Jan 1986 647.56 211.78
Dec 1985 647.8 211.28
Nov 1985 621.58 202.17
Oct 1985 585.22 189.82
Sep 1985 563.43 182.08
Aug 1985 585.32 188.63
Jul 1985 593.52 190.92
Jun 1985 597.52 191.85
May 1985 592.01 189.55
Apr 1985 563.75 179.83
Mar 1985 569.02 180.66
Feb 1985 572.81 181.18
Jan 1985 570.6 179.63
Dec 1984 532.25 167.24
Nov 1984 520.6 163.58
Oct 1984 528.59 166.09
Sep 1984 530.13 166.1
Aug 1984 534.53 166.68
Jul 1984 485.01 150.66
Jun 1984 495.03 153.18
May 1984 487.94 150.55
Apr 1984 520.24 160.05
Mar 1984 519.93 159.18
Feb 1984 514.01 157.06
Jan 1984 537.41 163.41
Dec 1983 545.63 164.93
Nov 1983 551.03 166.4
Oct 1983 542.67 163.55
Sep 1983 552.67 166.07
Aug 1983 549.84 164.4
Jul 1983 545.32 162.56
Jun 1983 564.62 167.64
May 1983 548.59 162.39
Apr 1983 558.87 164.43
Mar 1983 523.6 152.96
Feb 1983 506.83 148.06
Jan 1983 497.89 145.3
Dec 1982 482.91 140.64
Nov 1982 473.72 138.53
Oct 1982 456.34 133.72
Sep 1982 412.21 120.42
Aug 1982 409.93 119.51
Jul 1982 368.09 107.09
Jun 1982 378.69 109.61
May 1982 391.37 111.88
Apr 1982 411.19 116.44
Mar 1982 397.04 111.96
Feb 1982 400.7 113.11
Jan 1982 427.88 120.4
Dec 1981 436.91 122.55
Nov 1981 451.9 126.35
Oct 1981 437.35 121.89
Sep 1981 417.75 116.18
Aug 1981 445.83 122.79
Jul 1981 478.98 130.92
Jun 1981 485.34 131.21
May 1981 494.81 132.59
Apr 1981 499.53 132.81
Mar 1981 514.99 136
Feb 1981 500.47 131.27
Jan 1981 499.03 129.55
Dec 1980 527.19 135.76
Nov 1980 550.78 140.52
Oct 1980 503.75 127.47
Sep 1980 500.53 125.46
Aug 1980 492.35 122.38
Jul 1980 493.04 121.67
Jun 1980 462.93 114.24
May 1980 455.73 111.24
Apr 1980 439.76 106.29
Mar 1980 427.12 102.09
Feb 1980 482.76 113.66
Jan 1980 491.74 114.16
Dec 1979 471.62 107.94
Nov 1979 468.73 106.16
Oct 1979 453.75 101.82
Sep 1979 491.09 109.32
Aug 1979 496.42 109.32
Jul 1979 475.91 103.81
Jun 1979 477.01 102.91
May 1979 464.39 99.08
Apr 1979 483.03 101.76
Mar 1979 487.75 101.59
Feb 1979 466.94 96.28
Jan 1979 490.32 99.93
Dec 1978 475.76 96.11
Nov 1978 470.86 94.7
Oct 1978 465.23 93.15
Sep 1978 516.74 102.54
Aug 1978 524.47 103.29
Jul 1978 513.55 100.68
Jun 1978 491.02 95.53
May 1978 505.23 97.24
Apr 1978 507.82 96.83
Mar 1978 471.55 89.21
Feb 1978 463.74 87.04
Jan 1978 478.56 89.25
Dec 1977 513.21 95.1
Nov 1977 513.4 94.83
Oct 1977 502.36 92.34
Sep 1977 526.86 96.53
Aug 1977 529.9 96.77
Jul 1977 543.06 98.85
Jun 1977 554.75 100.48
May 1977 534.2 96.12
Apr 1977 549.83 98.44
Mar 1977 554.33 98.42
Feb 1977 566.02 99.82
Jan 1977 584.49 102.03
Dec 1976 618.77 107.46
Nov 1976 589.93 102.1
Oct 1976 595.58 102.9
Sep 1976 612.3 105.24
Aug 1976 600.83 102.91
Jul 1976 607.09 103.44
Jun 1976 615.26 104.28
May 1976 594.21 100.18
Apr 1976 607.16 101.64
Mar 1976 616.11 102.77
Feb 1976 598.84 99.71
Jan 1976 607.92 100.86
Dec 1975 544.59 90.19
Nov 1975 552.92 91.24
Oct 1975 543.52 89.04
Sep 1975 514.78 83.87
Aug 1975 536.2 86.88
Jul 1975 548.75 88.75
Jun 1975 595.16 95.19
May 1975 574.18 91.15
Apr 1975 553.05 87.3
Mar 1975 530.09 83.36
Feb 1975 520.81 81.59
Jan 1975 495.16 76.98
Dec 1974 442.7 68.56
Nov 1974 455.31 69.97
Oct 1974 484.65 73.9
Sep 1974 420.82 63.54
Aug 1974 483.58 72.15
Jul 1974 538.03 79.31
Jun 1974 588.18 86
May 1974 601.84 87.28
Apr 1974 630.52 90.31
Mar 1974 658.89 93.98
Feb 1974 683.17 96.22
Jan 1974 694.48 96.57
Dec 1973 707.6 97.55
Nov 1973 700.62 95.96
Oct 1973 795.84 108.29
Sep 1973 803.92 108.43
Aug 1973 774.65 104.25
Jul 1973 818.67 108.22
Jun 1973 790.5 104.26
May 1973 801.17 104.95
Apr 1973 822.2 106.97
Mar 1973 863.12 111.52
Feb 1973 872.41 111.68
Jan 1973 912.78 116.03
Dec 1972 930.85 118.05
Nov 1972 922.14 116.67
Oct 1972 884 111.58
Sep 1972 880 110.55
Aug 1972 886.4 111.09
Jul 1972 858.92 107.39
Jun 1972 861.03 107.14
May 1972 882.36 109.53
Apr 1972 869.46 107.67
Mar 1972 867.76 107.2
Feb 1972 864.75 106.57
Jan 1972 847.51 103.94
Dec 1971 832.43 102.09
Nov 1971 770.13 93.99
Oct 1971 772.09 94.23
Sep 1971 807.74 98.34
Aug 1971 813.41 99.03
Jul 1971 787 95.58
Jun 1971 814.7 98.7
May 1971 828.49 99.63
Apr 1971 868.73 103.95
Mar 1971 840.4 100.31
Feb 1971 812.61 96.75
Jan 1971 807.33 95.88
Dec 1970 775.92 92.15
Nov 1970 737.95 87.2
Oct 1970 708.1 83.25
Sep 1970 720.69 84.3
Aug 1970 700.49 81.52
Jul 1970 670.68 78.05
Jun 1970 628.1 72.72
May 1970 664.6 76.55
Apr 1970 709.59 81.52
Mar 1970 786.31 89.63
Feb 1970 789.3 89.5
Jan 1970 753.76 85.02
Dec 1969 818.34 92.06
Nov 1969 838.34 93.81
Oct 1969 872.58 97.12
Sep 1969 841.15 93.12
Aug 1969 865.07 95.51
Jul 1969 836.26 91.83
Jun 1969 894.67 97.71
May 1969 952.52 103.46
Apr 1969 957.27 103.69
Mar 1969 942.34 101.51
Feb 1969 918.59 98.13
Jan 1969 969.69 103.01
Dec 1968 980.45 103.86
Nov 1968 1,025.91 108.37
Oct 1968 981.73 103.41
Sep 1968 980.26 102.67
Aug 1968 946.58 98.86
Jul 1968 938.54 97.74
Jun 1968 961.72 99.58
May 1968 958.55 98.68
Apr 1968 949.45 97.46
Mar 1968 881.29 90.2
Feb 1968 875.63 89.36
Jan 1968 906.5 92.24
Dec 1967 953.67 96.47
Nov 1967 932 94
Oct 1967 927.8 93.3
Sep 1967 964.58 96.71
Aug 1967 936.74 93.64
Jul 1967 950.69 94.75
Jun 1967 912.18 90.64
May 1967 899.18 89.08
Apr 1967 951.81 94.01
Mar 1967 916 90.2
Feb 1967 883.95 86.78
Jan 1967 882.22 86.61
Dec 1966 818.25 80.33
Nov 1966 819.47 80.45
Oct 1966 816.93 80.2
Sep 1966 784.62 76.56
Aug 1966 790.15 77.1
Jul 1966 862.04 83.6
Jun 1966 876.49 84.74
May 1966 893.63 86.13
Apr 1966 944.78 91.06
Mar 1966 931.56 89.23
Feb 1966 955.31 91.22
Jan 1966 978.81 92.88
Dec 1965 974.07 92.43
Nov 1965 968.47 91.61
Oct 1965 977.04 92.42
Sep 1965 954.04 89.96
Aug 1965 924.45 87.17
Jul 1965 904.09 85.25
Jun 1965 892.11 84.12
May 1965 943.68 88.42
Apr 1965 951.04 89.11
Mar 1965 922.5 86.16
Feb 1965 939.1 87.43
Jan 1965 940.49 87.56
Dec 1964 910.31 84.75
Nov 1964 906.77 84.42
Oct 1964 914.42 84.86
Sep 1964 907.09 84.18
Aug 1964 884.62 81.83
Jul 1964 896.32 83.18
Jun 1964 883.1 81.69
May 1964 871.65 80.37
Apr 1964 861.78 79.46
Mar 1964 856.57 78.98
Feb 1964 843.77 77.8
Jan 1964 835.53 77.04
Dec 1963 813.62 75.02
Nov 1963 796.79 73.23
Oct 1963 805.27 74.01
Sep 1963 782.68 71.7
Aug 1963 791.41 72.5
Jul 1963 754.63 69.13
Jun 1963 759.72 69.37
May 1963 777.92 70.8
Apr 1963 766.94 69.8
Mar 1963 731.45 66.57
Feb 1963 708.72 64.29
Jan 1963 729.77 66.2
Dec 1962 695.6 63.1
Nov 1962 686.34 62.26
Oct 1962 623.06 56.52
Sep 1962 620.31 56.27
Aug 1962 653.88 59.12
Jul 1962 644.03 58.23
Jun 1962 607.55 54.75
May 1962 661.7 59.63
Apr 1962 723.95 65.24
Mar 1962 774.35 69.55
Feb 1962 778.91 69.96
Jan 1962 769 68.84
Dec 1961 799.27 71.55
Nov 1961 796.7 71.32
Oct 1961 766.54 68.62
Sep 1961 745.43 66.73
Aug 1961 762.94 68.07
Jul 1961 745.76 66.76
Jun 1961 726.92 64.64
May 1961 748.52 66.56
Apr 1961 734.46 65.31
Mar 1961 731.65 65.06
Feb 1961 713.43 63.44
Jan 1961 694.76 61.78
Dec 1960 653.49 58.11
Nov 1960 624.59 55.54
Oct 1960 600.41 53.39
Sep 1960 605.94 53.52
Aug 1960 644.89 56.96
Jul 1960 628.47 55.51
Jun 1960 644.43 56.92
May 1960 634.23 55.83
Apr 1960 617.65 54.37
Mar 1960 630.81 55.34
Feb 1960 639.7 56.12
Jan 1960 636.05 55.61
Dec 1959 682.67 59.89
Nov 1959 664.32 58.28
Oct 1959 655.66 57.52
Sep 1959 650.57 56.88
Aug 1959 684.02 59.6
Jul 1959 694.46 60.51
Jun 1959 673.36 58.47
May 1959 678.1 58.68
Apr 1959 665.51 57.59
Mar 1959 642.88 55.44
Feb 1959 642.53 55.41
Jan 1959 640.78 55.45
Dec 1958 640.21 55.21
Nov 1958 606.46 52.48
Oct 1958 595.22 51.33
Sep 1958 580.49 50.06
Aug 1958 553.71 47.75
Jul 1958 545.33 47.19
Jun 1958 524.6 45.24
May 1958 511.27 44.09
Apr 1958 503.73 43.44
Mar 1958 489.88 42.1
Feb 1958 478.55 40.84
Jan 1958 488.62 41.7
Dec 1957 471.89 39.99
Nov 1957 492.3 41.72
Oct 1957 486.22 41.06
Sep 1957 502.33 42.42
Aug 1957 535.49 45.22
Jul 1957 567.34 47.91
Jun 1957 564.94 47.37
May 1957 567.67 47.43
Apr 1957 549.41 45.74
Mar 1957 531.74 44.11
Feb 1957 523.37 43.26
Jan 1957 543 44.72
Dec 1956 566.67 46.67
Nov 1956 549.36 45.08
Oct 1956 555.45 45.58
Sep 1956 554.67 45.35
Aug 1956 583.21 47.51
Jul 1956 604.08 49.39
Jun 1956 578.7 46.97
May 1956 561.02 45.2
Apr 1956 602.72 48.38
Mar 1956 606.22 48.48
Feb 1956 566.96 45.34
Jan 1956 547.95 43.82
Dec 1955 568.71 45.48
Nov 1955 566.97 45.51
Oct 1955 527.48 42.34
Sep 1955 544.05 43.67
Aug 1955 539.95 43.18
Jul 1955 544.2 43.52
Jun 1955 514.98 41.03
May 1955 475.82 37.91
Apr 1955 476.45 37.96
Mar 1955 459.13 36.58
Feb 1955 461.39 36.76
Jan 1955 459.76 36.63
Dec 1954 451.6 35.98
Nov 1954 428.16 34.24
Oct 1954 396.15 31.68
Sep 1954 404.02 32.31
Aug 1954 371.63 29.83
Jul 1954 384.71 30.88
Jun 1954 363.9 29.21
May 1954 363.65 29.19
Apr 1954 353.38 28.26
Mar 1954 335.62 26.94
Feb 1954 325.78 26.15
Jan 1954 324.91 26.08
Dec 1953 309.09 24.81
Nov 1953 308.46 24.76
Oct 1953 304.59 24.54
Sep 1953 290.9 23.35
Aug 1953 290.52 23.32
Jul 1953 309.49 24.75
Jun 1953 301.86 24.14
May 1953 308.01 24.54
Apr 1953 310.18 24.62
Mar 1953 318.62 25.29
Feb 1953 327.54 25.9
Jan 1953 332.35 26.38
Dec 1952 333.49 26.57
Nov 1952 322.07 25.66
Oct 1952 307.76 24.52
Sep 1952 308.01 24.54
Aug 1952 314.16 25.03
Jul 1952 318.81 25.4
Jun 1952 315.65 24.96
May 1952 302.88 23.86
Apr 1952 296.03 23.32
Mar 1952 310.53 24.37
Feb 1952 296.39 23.26
Jan 1952 305.28 24.14
Dec 1951 300.6 23.77
Nov 1951 290.44 22.88
Oct 1951 293.42 22.94
Sep 1951 298.66 23.26
Aug 1951 301.22 23.28
Jul 1951 289.84 22.4
Jun 1951 271.2 20.96
May 1951 278.45 21.52
Apr 1951 291.35 22.43
Mar 1951 279.01 21.48
Feb 1951 284.27 21.8
Jan 1951 285.78 21.66
Dec 1950 273.86 20.43
Nov 1950 264.71 19.51
Oct 1950 266.05 19.53
Sep 1950 267.14 19.45
Aug 1950 254.03 18.42
Jul 1950 248.07 17.84
Jun 1950 249.09 17.69
May 1950 265.55 18.78
Apr 1950 255.03 17.96
Mar 1950 245.52 17.29
Feb 1950 245.57 17.22
Jan 1950 243.14 17.05
Dec 1949 238.42 16.79
Nov 1949 226.14 16.06
Oct 1949 226.81 16.04
Sep 1949 218.46 15.58
Aug 1949 214.31 15.22
Jul 1949 212.67 15.04
Jun 1949 198.55 14.16
May 1949 199.81 14.19
Apr 1949 206.26 14.71
Mar 1949 212.06 15.06
Feb 1949 205.86 14.62
Jan 1949 212.52 15.22
Dec 1948 211.36 15.2
Nov 1948 204.26 14.75
Oct 1948 226.62 16.5
Sep 1948 211.88 15.49
Aug 1948 218.45 15.97
Jul 1948 217.69 15.85
Jun 1948 232.78 16.74
May 1948 234.03 16.69
Apr 1948 217.97 15.48
Mar 1948 215.97 15.08
Feb 1948 198.65 13.93
Jan 1948 207.58 14.68
Dec 1947 219.12 15.3
Nov 1947 217.32 14.98
Oct 1947 224.82 15.43
Sep 1947 220.16 15.11
Aug 1947 228.18 15.32
Jul 1947 237.91 15.76
Jun 1947 231.69 15.21
May 1947 221.12 14.45
Apr 1947 223.11 14.58
Mar 1947 232.14 15.17
Feb 1947 240.51 15.43
Jan 1947 244.09 15.66
Dec 1946 238.48 15.3
Nov 1946 230.97 14.68
Oct 1946 239.1 14.84
Sep 1946 245.76 14.96
Aug 1946 276.23 16.65
Jul 1946 303.98 17.96
Jun 1946 330.28 18.43
May 1946 347.44 19.18
Apr 1946 341.68 18.76
Mar 1946 330.36 18.04
Feb 1946 319.94 17.28
Jan 1946 341.94 18.57
Dec 1945 319.66 17.36
Nov 1945 318.27 17.19
Oct 1945 308.28 16.65
Sep 1945 297.17 16.05
Aug 1945 287.17 15.51
Jul 1945 271.43 14.66
Jun 1945 275.32 14.87
May 1945 281.02 15.01
Apr 1945 279.39 14.84
Mar 1945 256.24 13.61
Feb 1945 269.23 14.3
Jan 1945 253.6 13.47
Dec 1944 250.02 13.28
Nov 1944 242.92 12.83
Oct 1944 241.97 12.78
Sep 1944 241.21 12.74
Aug 1944 242.73 12.82
Jul 1944 240.64 12.71
Jun 1944 247.15 12.98
May 1944 236.5 12.35
Apr 1944 227.31 11.87
Mar 1944 231.5 12.02
Feb 1944 227.65 11.82
Jan 1944 228.23 11.85
Dec 1943 224.76 11.67
Nov 1943 212.24 11.02
Oct 1943 229.39 11.91
Sep 1943 232.66 12.08
Aug 1943 228.58 11.8
Jul 1943 228.23 11.85
Jun 1943 236.5 12.35
May 1943 230.76 12.05
Apr 1943 223.22 11.59
Mar 1943 225.62 11.58
Feb 1943 217.53 10.97
Jan 1943 207.02 10.44
Dec 1942 193.74 9.77
Nov 1942 185.32 9.29
Oct 1942 187.83 9.36
Sep 1942 179.75 8.85
Aug 1942 175.08 8.62
Jul 1942 174.92 8.56
Jun 1942 170.65 8.3
May 1942 167.56 8.15
Apr 1942 159.44 7.66
Mar 1942 167.77 8.01
Feb 1942 182.2 8.59
Jan 1942 188.91 8.85
Dec 1941 187.89 8.69
Nov 1941 198.46 9.12
Oct 1941 208.08 9.5
Sep 1941 226.37 10.2
Aug 1941 231.21 10.28
Jul 1941 236.87 10.39
Jun 1941 224.56 9.85
May 1941 218.3 9.38
Apr 1941 218.18 9.31
Mar 1941 235.06 9.96
Feb 1941 235.77 9.92
Jan 1941 239.34 10.07
Dec 1940 251.46 10.58
Nov 1940 253.02 10.57
Oct 1940 265.23 11.08
Sep 1940 255.17 10.66
Aug 1940 251.34 10.5
Jul 1940 246.32 10.29
Jun 1940 237.2 9.98
May 1940 221.9 9.27
Apr 1940 291.8 12.19
Mar 1940 291.56 12.18
Feb 1940 290.36 12.13
Jan 1940 290.52 12.05
Dec 1939 298.26 12.46
Nov 1939 292.04 12.2
Oct 1939 307.12 12.83
Sep 1939 303.99 12.79
Aug 1939 271.5 11.18
Jul 1939 292.38 12.04
Jun 1939 263.73 10.86
May 1939 281.7 11.6
Apr 1939 265.43 10.93
Mar 1939 264.72 10.98
Feb 1939 306.19 12.7
Jan 1939 294.43 12.3
Dec 1938 314.54 13.14
Nov 1938 304.72 12.73
Oct 1938 315.25 13.17
Sep 1938 290.92 12.24
Aug 1938 286.64 12.06
Jul 1938 293.05 12.33
Jun 1938 274.75 11.56
May 1938 220.33 9.27
Apr 1938 230.81 9.78
Mar 1938 202.02 8.5
Feb 1938 269.52 11.34
Jan 1938 252.29 10.69
Dec 1937 245.52 10.55
Nov 1937 256.77 11.11
Oct 1937 283.48 12.35
Sep 1937 315.84 13.76
Aug 1937 370.72 16.04
Jul 1937 387.59 16.77
Jun 1937 358.4 15.4
May 1937 378.41 16.26
Apr 1937 385.04 16.43
Mar 1937 422.92 17.92
Feb 1937 429.24 18.06
Jan 1937 422.35 17.77
Dec 1936 411.24 17.18
Nov 1936 413.64 17.28
Oct 1936 412.44 17.23
Sep 1936 383.24 16.01
Aug 1936 382.76 15.99
Jul 1936 382.14 15.85
Jun 1936 360.38 14.84
May 1936 352.25 14.4
Apr 1936 336.84 13.77
Mar 1936 364.97 14.92
Feb 1936 354.55 14.6
Jan 1936 347.51 14.31
Dec 1935 326.14 13.43
Nov 1935 314.24 12.94
Oct 1935 304.79 12.46
Sep 1935 283.51 11.59
Aug 1935 274.95 11.24
Jul 1935 271.03 11.08
Jun 1935 250.49 10.24
May 1935 232.64 9.58
Apr 1935 225.36 9.28
Mar 1935 206.7 8.45
Feb 1935 213.79 8.74
Jan 1935 224.24 9.1
Dec 1934 237.59 9.5
Nov 1934 236.82 9.54
Oct 1934 218.7 8.81
Sep 1934 223.74 9.08
Aug 1934 228.83 9.15
Jul 1934 217.08 8.68
Jun 1934 245.34 9.81
May 1934 242.15 9.61
Apr 1934 263.56 10.46
Mar 1934 267.59 10.62
Feb 1934 271.12 10.76
Jan 1934 283.59 11.17
Dec 1933 253.12 9.97
Nov 1933 250.83 9.88
Oct 1933 227.48 8.96
Sep 1933 246.77 9.72
Aug 1933 281.55 11.09
Jul 1933 254.54 9.95
Jun 1933 287.89 10.91
May 1933 256.4 9.64
Apr 1933 208.26 7.83
Mar 1933 155.59 5.85
Feb 1933 149.35 5.66
Jan 1933 180.29 6.94
Dec 1932 177.03 6.92
Nov 1932 166.29 6.55
Oct 1932 175.37 6.96
Sep 1932 202.07 8.08
Aug 1932 208.27 8.39
Jul 1932 148.59 6.03
Jun 1932 109.16 4.43
May 1932 109.34 4.47
Apr 1932 140.56 5.83
Mar 1932 174.98 7.31
Feb 1932 197.03 8.29
Jan 1932 186.08 7.94
Dec 1931 186.38 8.12
Nov 1931 216.58 9.5
Oct 1931 234.59 10.43
Sep 1931 216.94 9.71
Aug 1931 307.6 13.86
Jul 1931 304.72 13.73
Jun 1931 329.13 14.83
May 1931 285.18 13.02
Apr 1931 326.26 15.09
Mar 1931 358.54 16.69
Feb 1931 384.86 18.03
Jan 1931 341.24 16.19
Dec 1930 319.3 15.34
Nov 1930 334.71 16.38
Oct 1930 344.06 16.94
Sep 1930 375.3 18.59
Aug 1930 434.04 21.37
Jul 1930 428.19 21.21
Jun 1930 408.13 20.46
May 1930 485.63 24.49
Apr 1930 490.86 24.9
Mar 1930 478.89 24.15
Feb 1930 458.92 23.28
Jan 1930 446.63 22.79
Dec 1929 417.93 21.45
Nov 1929 405.25 20.92
Oct 1929 467.82 24.15
Sep 1929 584.24 30.16
Aug 1929 614.26 31.71
Jul 1929 559.44 28.88
Jun 1929 537.18 27.41
May 1929 489.48 24.83
Apr 1929 514.38 25.94
Mar 1929 503.28 25.53
Feb 1929 501.51 25.59
Jan 1929 504.45 25.74
Dec 1928 477.21 24.35
Nov 1928 473.07 24.28
Oct 1928 422.41 21.68
Sep 1928 409.51 21.14
Aug 1928 409.01 20.87
Jul 1928 380.79 19.43
Jun 1928 375.1 19.14
May 1928 389.68 20
Apr 1928 387.06 19.75
Mar 1928 377.85 19.28
Feb 1928 338.26 17.26
Jan 1928 340.35 17.57
Dec 1927 342.1 17.66

Returns from Investing in the S&P 500 index

How much did an investment in the S&P 500 really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Note that the S&P 500 index does not include the impact of reinvested dividends or management fees. As an alternative, explore the Inflation-Adjusted S&P 500 ETF (SPY), which might provide a more accurate view for investors.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for the S&P 500 index by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the index nominally increased, as in 2007.

Year Inflation-Adjusted Return Nominal Return
2024 19.85% 23.31%
2023 20.2% 24.23%
2022 -24.33% -19.44%
2021 18.55% 26.89%
2020 14.7% 16.26%
2019 26% 28.88%
2018 -7.99% -6.24%
2017 16.95% 19.42%
2016 7.31% 9.54%
2015 -1.45% -0.73%
2014 10.55% 11.39%
2013 27.68% 29.6%
2012 11.47% 13.41%
2011 -2.88% 0%
2010 11.12% 12.78%
2009 20.18% 23.45%
2008 -38.54% -38.49%
2007 -0.53% 3.53%
2006 10.8% 13.62%
2005 -0.4% 3%
2004 5.56% 8.99%
2003 24.05% 26.38%
2002 -25.15% -23.37%
2001 -14.37% -13.04%
2000 -13.08% -10.14%
1999 16.4% 19.53%
1998 24.66% 26.67%
1997 28.82% 31.01%
1996 16.4% 20.26%
1995 30.79% 34.11%
1994 -4.1% -1.54%
1993 4.19% 7.06%
1992 1.52% 4.46%
1991 22.55% 26.31%
1990 -11.94% -6.56%
1989 21.6% 27.25%
1988 7.64% 12.4%
1987 -2.3% 2.03%
1986 13.38% 14.62%
1985 21.71% 26.33%
1984 -2.45% 1.4%
1983 12.99% 17.27%
1982 10.53% 14.76%
1981 -17.12% -9.73%
1980 11.78% 25.77%
1979 -0.87% 12.31%
1978 -7.3% 1.06%
1977 -17.06% -11.5%
1976 13.62% 19.15%
1975 23.02% 31.55%
1974 -37.44% -29.72%
1973 -23.98% -17.37%
1972 11.82% 15.63%
1971 7.28% 10.79%
1970 -5.18% 0.1%
1969 -16.53% -11.36%
1968 2.81% 7.66%
1967 16.55% 20.09%
1966 -16% -13.09%
1965 7% 9.06%
1964 11.88% 12.97%
1963 16.97% 18.89%
1962 -12.97% -11.81%
1961 22.31% 23.13%
1960 -4.27% -2.97%
1959 6.63% 8.48%
1958 35.67% 38.06%
1957 -16.73% -14.31%
1956 -0.36% 2.62%
1955 25.93% 26.4%
1954 46.11% 45.02%
1953 -7.32% -6.62%
1952 10.94% 11.78%
1951 9.76% 16.35%
1950 14.87% 21.68%
1949 12.8% 10.46%
1948 -3.54% -0.65%
1947 -8.12% 0%
1946 -25.39% -11.87%
1945 27.85% 30.72%
1944 11.24% 13.8%
1943 16.01% 19.45%
1942 3.11% 12.43%
1941 -25.28% -17.86%
1940 -15.69% -15.09%
1939 -5.18% -5.18%
1938 28.11% 24.55%
1937 -40.3% -38.59%
1936 26.1% 27.92%
1935 37.27% 41.37%
1934 -6.14% -4.71%
1933 42.98% 44.08%
1932 -5.02% -14.78%
1931 -41.63% -47.07%
1930 -23.6% -28.48%
1929 -12.42% -11.91%
1928 39.49% 37.88%

S&P 500 Index: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for the S&P 500 over various trailing periods ending May 31, 2026, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 23% 28.22%
Last 3 years 18.07% 21.95%
Last 5 years 7.69% 12.51%
Last 10 years 9.99% 13.71%
Last 20 years 6.62% 9.34%
Last 30 years 5.71% 8.43%
Last 40 years 5.91% 8.93%
Last 50 years 5.22% 9.04%
Last 75 years 4.5% 8.13%

Real Returns of Investing in the S&P 500

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the S&P 500 five years ago yielded an 75.5% nominal gain, but the real return (the actual increase in buying power) was 42.11%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2021 - Sep 2025 $175.5 75.5% 42.11%
Last 10 years Feb 2016 - Sep 2025 $346.15 246.15% 152.7%
Last 25 years Feb 2001 - Sep 2025 $539.42 439.42% 191.96%
Last 50 years Feb 1976 - Sep 2025 $6,707.91 6,608% 1,052%

About the S&P 500 index

The Standard & Poor's 500 (S&P 500®) is a widely followed stock market index that measures the performance of 500 of the largest publicly traded companies in the United States, selected by S&P Dow Jones Indices. It is a market-capitalization weighted index, meaning companies with larger market values have a proportionally larger impact on the index's movement.

Launched in its current form in 1957, the S&P 500 is considered a primary benchmark for the overall health and performance of the U.S. stock market and, by extension, the broader U.S. economy. It represents approximately 80% of the total available U.S. equity market capitalization. Investors commonly use it to gauge market trends and benchmark the performance of their own portfolios.

Last Close
Jun 12, 2026
7,431.46
Highest
Jun 2, 2026
7,609.78
Highest, Inflation-Adjusted
Jun 2, 2026
7,609.78
Annualized return
Since Dec 30, 1927
6.33%
Annualized return, Inflation-Adjusted
Since Dec 30, 1927
3.18%