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: June 2026 (latest available CPI).

The current value of the S&P 500 index is 7,457.69 (as of the close of Jul 17, 2026), 2% 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 2,088%, which is equivalent to an annual growth rate of 3.18%.

In nominal values, the total return since this date has been 42,129%, 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
Jul 2026 7,457.69 7,457.69
Jun 2026 7,499.36 7,499.36
May 2026 7,553.57 7,580.06
Apr 2026 7,229.19 7,209.01
Mar 2026 6,602.44 6,528.52
Feb 2026 7,029.75 6,878.88
Jan 2026 7,124.64 6,939.03
Dec 2025 7,054.59 6,845.5
Nov 2025 7,056.81 6,849.09
Oct 2025 6,840.2 6,840.2
Sep 2025 6,876.92 6,688.46
Aug 2025 6,659.19 6,460.26
Jul 2025 6,553.37 6,339.39
Jun 2025 6,424.07 6,204.95
May 2025 6,141.32 5,911.69
Apr 2025 5,797.47 5,569.06
Mar 2025 5,860.21 5,611.85
Feb 2025 6,231.99 5,954.5
Jan 2025 6,350.11 6,040.53
Dec 2024 6,223.55 5,881.63
Nov 2024 6,385.33 6,032.38
Oct 2024 6,036 5,705.45
Sep 2024 6,103.35 5,762.48
Aug 2024 5,992.12 5,648.4
Jul 2024 5,863.11 5,522.3
Jun 2024 5,804.21 5,460.48
May 2024 5,611.62 5,277.51
Apr 2024 5,363.39 5,035.69
Mar 2024 5,618.06 5,254.35
Feb 2024 5,484.26 5,096.27
Jan 2024 5,246.84 4,845.65
Dec 2023 5,192.88 4,769.83
Nov 2023 4,967.99 4,567.8
Oct 2023 4,552.03 4,193.8
Sep 2023 4,652.55 4,288.05
Aug 2023 4,902.98 4,507.66
Jul 2023 5,013.21 4,588.96
Jun 2023 4,871.09 4,450.38
May 2023 4,589.74 4,179.83
Apr 2023 4,589.9 4,169.48
Mar 2023 4,546.55 4,109.31
Feb 2023 4,407.13 3,970.15
Jan 2023 4,550.55 4,076.6
Dec 2022 4,320.15 3,839.5
Nov 2022 4,576.79 4,080.11
Oct 2022 4,338.94 3,871.98
Sep 2022 4,034.34 3,585.62
Aug 2022 4,459.52 3,955
Jul 2022 4,655.52 4,130.29
Jun 2022 4,266.24 3,785.38
May 2022 4,721.04 4,132.15
Apr 2022 4,772.82 4,131.93
Mar 2022 5,262.32 4,530.41
Feb 2022 5,148.41 4,373.94
Jan 2022 5,363.64 4,515.55
Dec 2021 5,708.98 4,766.18
Nov 2021 5,487.21 4,567
Oct 2021 5,560.51 4,605.38
Sep 2021 5,244.11 4,307.54
Aug 2021 5,520.98 4,522.68
Jul 2021 5,376.52 4,395.26
Jun 2021 5,282.22 4,297.5
May 2021 5,215.44 4,204.11
Apr 2021 5,228.57 4,181.17
Mar 2021 5,008.95 3,972.89
Feb 2021 4,839.06 3,811.15
Jan 2021 4,741.83 3,714.24
Dec 2020 4,815.63 3,756.07
Nov 2020 4,647.64 3,621.63
Oct 2020 4,193.78 3,269.96
Sep 2020 4,314.89 3,363
Aug 2020 4,497.32 3,500.31
Jul 2020 4,216.11 3,271.12
Jun 2020 4,016.14 3,100.29
May 2020 3,965.2 3,044.31
Apr 2020 3,793.5 2,912.43
Mar 2020 3,343.97 2,584.59
Feb 2020 3,813.88 2,954.22
Jan 2020 4,175.54 3,225.52
Dec 2019 4,198.58 3,230.78
Nov 2019 4,078.16 3,140.98
Oct 2019 3,941.77 3,037.56
Sep 2019 3,871.68 2,976.74
Aug 2019 3,809.26 2,926.46
Jul 2019 3,879.25 2,980.38
Jun 2019 3,835.38 2,941.76
May 2019 3,588.77 2,752.06
Apr 2019 3,849.63 2,945.83
Mar 2019 3,723.63 2,834.4
Feb 2019 3,678.7 2,784.49
Jan 2019 3,587.59 2,704.1
Dec 2018 3,332.24 2,506.85
Nov 2018 3,657.24 2,760.17
Oct 2018 3,581.04 2,711.74
Sep 2018 3,854.91 2,913.98
Aug 2018 3,842.89 2,901.52
Jul 2018 3,732.08 2,816.29
Jun 2018 3,602.56 2,718.37
May 2018 3,590.91 2,705.27
Apr 2018 3,529.58 2,648.05
Mar 2018 3,534 2,640.87
Feb 2018 3,639.85 2,713.83
Jan 2018 3,804.53 2,823.81
Dec 2017 3,621.79 2,673.61
Nov 2017 3,584.42 2,647.58
Oct 2017 3,486.59 2,575.26
Sep 2017 3,408.75 2,519.36
Aug 2017 3,361.91 2,471.65
Jul 2017 3,370.13 2,470.3
Jun 2017 3,303.88 2,423.41
May 2017 3,291.04 2,411.8
Apr 2017 3,256.16 2,384.2
Mar 2017 3,236.39 2,362.72
Feb 2017 3,240.28 2,363.64
Jan 2017 3,133.9 2,278.87
Dec 2016 3,096.78 2,238.83
Nov 2016 3,042.42 2,198.81
Oct 2016 2,937.31 2,126.15
Sep 2016 2,999.23 2,168.27
Aug 2016 3,010.16 2,170.95
Jul 2016 3,016.6 2,173.6
Jun 2016 2,908.16 2,098.86
May 2016 2,915.07 2,096.96
Apr 2016 2,882.67 2,065.3
Mar 2016 2,888.54 2,059.74
Feb 2016 2,721.39 1,932.23
Jan 2016 2,734.92 1,940.24
Dec 2015 2,885.86 2,043.94
Nov 2015 2,927.31 2,080.41
Oct 2015 2,919.66 2,079.36
Sep 2015 2,694.73 1,920.03
Aug 2015 2,763.61 1,972.18
Jul 2015 2,943.93 2,103.84
Jun 2015 2,887.13 2,063.11
May 2015 2,959.43 2,107.39
Apr 2015 2,943.63 2,085.51
Mar 2015 2,924.69 2,067.89
Feb 2015 2,994.19 2,104.5
Jan 2015 2,850.71 1,994.99
Dec 2014 2,928.19 2,058.9
Nov 2014 2,923.83 2,067.56
Oct 2014 2,838.41 2,018.05
Sep 2014 2,767.08 1,972.29
Aug 2014 2,812.8 2,003.37
Jul 2014 2,706.2 1,930.67
Jun 2014 2,746.56 1,960.23
May 2014 2,700.21 1,923.57
Apr 2014 2,653.83 1,883.95
Mar 2014 2,646.17 1,872.34
Feb 2014 2,644.88 1,859.45
Jan 2014 2,544.93 1,782.59
Dec 2013 2,648.64 1,848.36
Nov 2013 2,587.45 1,805.81
Oct 2013 2,511.71 1,756.54
Sep 2013 2,398.29 1,681.55
Aug 2013 2,331.71 1,632.97
Jul 2013 2,409.94 1,685.73
Jun 2013 2,297.26 1,606.28
May 2013 2,337.84 1,630.74
Apr 2013 2,294.37 1,597.57
Mar 2013 2,251.27 1,569.19
Feb 2013 2,178.74 1,514.68
Jan 2013 2,172.56 1,498.11
Dec 2012 2,074.38 1,426.19
Nov 2012 2,054.27 1,416.18
Oct 2012 2,038.73 1,412.16
Sep 2012 2,079.08 1,440.67
Aug 2012 2,038.95 1,406.58
Jul 2012 2,010.56 1,379.32
Jun 2012 1,982.31 1,362.16
May 2012 1,904.09 1,310.33
Apr 2012 2,028.97 1,397.91
Mar 2012 2,050.47 1,408.47
Feb 2012 2,003.27 1,365.68
Jan 2012 1,933.61 1,312.41
Dec 2011 1,861.01 1,257.6
Nov 2011 1,840.71 1,246.96
Oct 2011 1,848.51 1,253.3
Sep 2011 1,665.31 1,131.42
Aug 2011 1,796.78 1,218.89
Jul 2011 1,910.21 1,292.28
Jun 2011 1,953.87 1,320.64
May 2011 1,988.07 1,345.2
Apr 2011 2,024.76 1,363.61
Mar 2011 1,981.34 1,325.83
Feb 2011 2,002.76 1,327.22
Jan 2011 1,950.31 1,286.12
Dec 2010 1,916.2 1,257.64
Nov 2010 1,801.84 1,180.55
Oct 2010 1,806.73 1,183.26
Sep 2010 1,744.68 1,141.2
Aug 2010 1,605.16 1,049.33
Jul 2010 1,687.44 1,101.6
Jun 2010 1,579.19 1,030.71
May 2010 1,667.49 1,089.41
Apr 2010 1,817.8 1,186.69
Mar 2010 1,794.48 1,169.43
Feb 2010 1,701.79 1,104.49
Jan 2010 1,655.02 1,073.87
Dec 2009 1,724.43 1,115.1
Nov 2009 1,691.34 1,095.63
Oct 2009 1,600.71 1,036.19
Sep 2009 1,634.56 1,057.08
Aug 2009 1,579.17 1,020.62
Jul 2009 1,531.32 987.48
Jun 2009 1,423.36 919.32
May 2009 1,435.31 919.14
Apr 2009 1,366.89 872.81
Mar 2009 1,252.65 797.87
Feb 2009 1,156.89 735.09
Jan 2009 1,306.24 825.88
Dec 2008 1,434.83 903.25
Nov 2008 1,408.97 896.24
Oct 2008 1,493.8 968.75
Sep 2008 1,780.34 1,166.36
Aug 2008 1,955.41 1,282.83
Jul 2008 1,924.15 1,267.38
Jun 2008 1,953.52 1,280
May 2008 2,158.77 1,400.38
Apr 2008 2,153.96 1,385.59
Mar 2008 2,068.67 1,322.7
Feb 2008 2,099.11 1,330.63
Jan 2008 2,181.02 1,378.55
Dec 2007 2,334.66 1,468.36
Nov 2007 2,353.4 1,481.14
Oct 2007 2,476.45 1,549.38
Sep 2007 2,445.49 1,526.75
Aug 2007 2,367.49 1,473.99
Jul 2007 2,333.14 1,455.27
Jun 2007 2,409.61 1,503.35
May 2007 2,458.07 1,530.62
Apr 2007 2,395.13 1,482.37
Mar 2007 2,310.66 1,420.86
Feb 2007 2,308.66 1,406.82
Jan 2007 2,372.85 1,438.24
Dec 2006 2,347.1 1,418.3
Nov 2006 2,321.31 1,400.63
Oct 2006 2,280.31 1,377.94
Sep 2006 2,198.67 1,335.85
Aug 2006 2,135.43 1,303.82
Jul 2006 2,095.05 1,276.66
Jun 2006 2,090.62 1,270.2
May 2006 2,094.56 1,270.09
Apr 2006 2,172.11 1,310.61
Mar 2006 2,164.29 1,294.87
Feb 2006 2,152.39 1,280.66
Jan 2006 2,155.75 1,280.08
Dec 2005 2,118.24 1,248.29
Nov 2005 2,111.67 1,249.48
Oct 2005 2,023.51 1,207.01
Sep 2005 2,064.2 1,228.81
Aug 2005 2,075.01 1,220.33
Jul 2005 2,109.3 1,234.18
Jun 2005 2,045.49 1,191.33
May 2005 2,046.83 1,191.5
Apr 2005 1,985.26 1,156.85
Mar 2005 2,039.63 1,180.59
Feb 2005 2,095.64 1,203.6
Jan 2005 2,068.63 1,181.27
Dec 2004 2,126.76 1,211.92
Nov 2004 2,052.35 1,173.82
Oct 2004 1,977.12 1,130.2
Sep 2004 1,960.06 1,114.58
Aug 2004 1,945.98 1,104.24
Jul 2004 1,942.56 1,101.72
Jun 2004 2,008.36 1,140.84
May 2004 1,979.13 1,120.68
Apr 2004 1,966.94 1,107.3
Mar 2004 2,006.94 1,126.21
Feb 2004 2,053.46 1,144.94
Jan 2004 2,039.65 1,131.13
Dec 2003 2,014.8 1,111.92
Nov 2003 1,915.38 1,058.2
Oct 2003 1,896.68 1,050.71
Sep 2003 1,795.93 995.97
Aug 2003 1,823.55 1,008.01
Jul 2003 1,798.35 990.31
Jun 2003 1,771.56 974.5
May 2003 1,753.64 963.59
Apr 2003 1,665.98 916.92
Mar 2003 1,537.74 848.18
Feb 2003 1,534.15 841.15
Jan 2003 1,572.72 855.7
Dec 2002 1,624.2 879.82
Nov 2002 1,724.67 936.31
Oct 2002 1,631.56 885.76
Sep 2002 1,504.22 815.28
Aug 2002 1,692.99 916.07
Jul 2002 1,690.38 911.62
Jun 2002 1,837.42 989.82
May 2002 1,982.06 1,067.14
Apr 2002 2,000.22 1,076.92
Mar 2002 2,143.03 1,147.39
Feb 2002 2,078.71 1,106.73
Jan 2002 2,131.18 1,130.2
Dec 2001 2,169.8 1,148.08
Nov 2001 2,144.99 1,139.45
Oct 2001 1,991.65 1,059.78
Sep 2001 1,949.66 1,040.94
Aug 2001 2,132.74 1,133.58
Jul 2001 2,278.83 1,211.23
Jun 2001 2,297.1 1,224.38
May 2001 2,360.07 1,255.82
Apr 2001 2,358.73 1,249.46
Mar 2001 2,199.17 1,160.33
Feb 2001 2,355.41 1,239.94
Jan 2001 2,605.26 1,366.01
Dec 2000 2,533.97 1,320.28
Nov 2000 2,522.29 1,314.95
Oct 2000 2,743.4 1,429.4
Sep 2000 2,761.8 1,436.51
Aug 2000 2,933.06 1,517.68
Jul 2000 2,765.21 1,430.83
Jun 2000 2,817.67 1,454.6
May 2000 2,766.25 1,420.6
Apr 2000 2,831.53 1,452.43
Mar 2000 2,923.21 1,498.58
Feb 2000 2,687.39 1,366.42
Jan 2000 2,758.78 1,394.46
Dec 1999 2,915.38 1,469.25
Nov 1999 2,755.97 1,388.91
Oct 1999 2,706.02 1,362.93
Sep 1999 2,551.3 1,282.71
Aug 1999 2,638.86 1,320.41
Jul 1999 2,661.84 1,328.72
Jun 1999 2,758.24 1,372.71
May 1999 2,615.84 1,301.84
Apr 1999 2,682.83 1,335.18
Mar 1999 2,603.55 1,286.37
Feb 1999 2,513.94 1,238.33
Jan 1999 2,600.96 1,279.64
Dec 1998 2,504.6 1,229.23
Nov 1998 2,369.49 1,163.63
Oct 1998 2,237.21 1,098.67
Sep 1998 2,075.99 1,017.01
Aug 1998 1,956.46 957.28
Jul 1998 2,293.2 1,120.67
Jun 1998 2,322.99 1,133.84
May 1998 2,237.6 1,090.82
Apr 1998 2,284.75 1,111.75
Mar 1998 2,268.38 1,101.75
Feb 1998 2,164.48 1,049.34
Jan 1998 2,025.78 980.28
Dec 1997 2,009.16 970.43
Nov 1997 1,975.59 955.4
Oct 1997 1,890.09 914.62
Sep 1997 1,962.44 947.28
Aug 1997 1,868.03 899.47
Jul 1997 1,985.63 954.31
Jun 1997 1,844.01 885.14
May 1997 1,769.42 848.28
Apr 1997 1,670.47 801.34
Mar 1997 1,580.26 757.12
Feb 1997 1,654.74 790.82
Jan 1997 1,650.16 786.16
Dec 1996 1,559.72 740.74
Nov 1996 1,594 757.02
Oct 1996 1,487.85 705.27
Sep 1996 1,454.6 687.33
Aug 1996 1,384.19 651.99
Jul 1996 1,361.23 639.95
Jun 1996 1,429.22 670.63
May 1996 1,426.91 669.12
Apr 1996 1,397.71 654.17
Mar 1996 1,384.5 645.5
Feb 1996 1,380.72 640.43
Jan 1996 1,375.65 636.02
Dec 1995 1,340.01 615.93
Nov 1995 1,316.18 605.37
Oct 1995 1,263.46 581.5
Sep 1995 1,273.92 584.41
Aug 1995 1,227.21 561.88
Jul 1995 1,230.83 562.06
Jun 1995 1,192.92 544.75
May 1995 1,170.37 533.4
Apr 1995 1,131.59 514.71
Mar 1995 1,104.45 500.71
Feb 1995 1,078.63 487.39
Jan 1995 1,045.23 470.42
Dec 1994 1,024.54 459.27
Nov 1994 1,012.1 453.69
Oct 1994 1,055.13 472.35
Sep 1994 1,034.29 462.71
Aug 1994 1,065.71 475.49
Jul 1994 1,031.25 458.26
Jun 1994 1,002.47 444.27
May 1994 1,033.55 456.5
Apr 1994 1,021.59 450.91
Mar 1994 1,011.32 445.77
Feb 1994 1,063.41 467.14
Jan 1994 1,100.1 481.61
Dec 1993 1,068.39 466.45
Nov 1993 1,057.72 461.79
Oct 1993 1,072.29 467.83
Sep 1993 1,056.24 458.93
Aug 1993 1,069.11 463.56
Jul 1993 1,036.38 448.13
Jun 1993 1,041.93 450.53
May 1993 1,042.59 450.19
Apr 1993 1,020.85 440.19
Mar 1993 1,050.39 451.67
Feb 1993 1,034.71 443.38
Jan 1993 1,027.57 438.78
Dec 1992 1,025.41 435.71
Nov 1992 1,014.44 431.35
Oct 1992 986.03 418.68
Sep 1992 987.44 417.8
Aug 1992 981.31 414.03
Jul 1992 1,008.3 424.21
Jun 1992 972.18 408.14
May 1992 992.89 415.35
Apr 1992 993.36 414.95
Mar 1992 967.79 403.69
Feb 1992 994.39 412.7
Jan 1992 988.51 408.78
Dec 1991 1,010.07 417.09
Nov 1991 909.33 375.22
Oct 1991 953.85 392.45
Sep 1991 944.07 387.86
Aug 1991 966.73 395.43
Jul 1991 950.88 387.81
Jun 1991 911.39 371.16
May 1991 960.06 389.83
Apr 1991 927.11 375.34
Mar 1991 928.19 375.22
Feb 1991 909.38 367.07
Jan 1991 853.31 343.93
Dec 1990 824.2 330.22
Nov 1990 804.23 322.22
Oct 1990 760.46 304
Sep 1990 770.2 306.05
Aug 1990 818.54 322.56
Jul 1990 912.09 356.15
Jun 1990 920.41 358.02
May 1990 933.7 361.23
Apr 1990 857.03 330.8
Mar 1990 882.08 339.94
Feb 1990 865.9 331.89
Jan 1990 862.61 329.08
Dec 1989 935.91 353.4
Nov 1989 917.74 345.99
Oct 1989 904.97 340.36
Sep 1989 932.79 349.15
Aug 1989 941.95 351.45
Jul 1989 929.05 346.08
Jun 1989 855.68 317.98
May 1989 864.61 320.52
Apr 1989 840.01 309.64
Mar 1989 805.17 294.87
Feb 1989 793.3 288.86
Jan 1989 820.32 297.47
Dec 1988 769.67 277.72
Nov 1988 759.79 273.7
Oct 1988 775.06 278.97
Sep 1988 757.97 271.91
Aug 1988 733.91 261.52
Jul 1988 766.6 272.02
Jun 1988 774.03 273.5
May 1988 745.1 262.16
Apr 1988 745.27 261.33
Mar 1988 742.12 258.89
Feb 1988 771.03 267.82
Jan 1988 742 257.07
Dec 1987 715.02 247.08
Nov 1987 666.46 230.3
Oct 1987 729.28 251.79
Sep 1987 934.57 321.83
Aug 1987 962.74 329.8
Jul 1987 935.12 318.66
Jun 1987 894.46 304
May 1987 856.58 290.1
Apr 1987 854.47 288.36
Mar 1987 868.99 291.7
Feb 1987 850.44 284.2
Jan 1987 823.11 274.08
Dec 1986 731.88 242.17
Nov 1986 753.87 249.22
Oct 1986 738.69 243.98
Sep 1986 701 231.32
Aug 1986 769.98 252.93
Jul 1986 720.12 236.12
Jun 1986 765.01 250.84
May 1986 758.52 247.35
Apr 1986 724.24 235.52
Mar 1986 733.28 238.9
Feb 1986 693.32 226.92
Jan 1986 645.3 211.78
Dec 1985 645.54 211.28
Nov 1985 619.4 202.17
Oct 1985 583.17 189.82
Sep 1985 561.46 182.08
Aug 1985 583.27 188.63
Jul 1985 591.45 190.92
Jun 1985 595.43 191.85
May 1985 589.94 189.55
Apr 1985 561.78 179.83
Mar 1985 567.03 180.66
Feb 1985 570.81 181.18
Jan 1985 568.6 179.63
Dec 1984 530.39 167.24
Nov 1984 518.78 163.58
Oct 1984 526.74 166.09
Sep 1984 528.28 166.1
Aug 1984 532.66 166.68
Jul 1984 483.32 150.66
Jun 1984 493.3 153.18
May 1984 486.23 150.55
Apr 1984 518.42 160.05
Mar 1984 518.11 159.18
Feb 1984 512.21 157.06
Jan 1984 535.54 163.41
Dec 1983 543.72 164.93
Nov 1983 549.11 166.4
Oct 1983 540.77 163.55
Sep 1983 550.74 166.07
Aug 1983 547.92 164.4
Jul 1983 543.42 162.56
Jun 1983 562.65 167.64
May 1983 546.68 162.39
Apr 1983 556.91 164.43
Mar 1983 521.77 152.96
Feb 1983 505.06 148.06
Jan 1983 496.15 145.3
Dec 1982 481.22 140.64
Nov 1982 472.07 138.53
Oct 1982 454.75 133.72
Sep 1982 410.77 120.42
Aug 1982 408.5 119.51
Jul 1982 366.8 107.09
Jun 1982 377.37 109.61
May 1982 390.01 111.88
Apr 1982 409.75 116.44
Mar 1982 395.65 111.96
Feb 1982 399.3 113.11
Jan 1982 426.38 120.4
Dec 1981 435.38 122.55
Nov 1981 450.32 126.35
Oct 1981 435.82 121.89
Sep 1981 416.29 116.18
Aug 1981 444.27 122.79
Jul 1981 477.3 130.92
Jun 1981 483.64 131.21
May 1981 493.08 132.59
Apr 1981 497.78 132.81
Mar 1981 513.19 136
Feb 1981 498.72 131.27
Jan 1981 497.28 129.55
Dec 1980 525.35 135.76
Nov 1980 548.85 140.52
Oct 1980 501.99 127.47
Sep 1980 498.78 125.46
Aug 1980 490.62 122.38
Jul 1980 491.32 121.67
Jun 1980 461.31 114.24
May 1980 454.14 111.24
Apr 1980 438.22 106.29
Mar 1980 425.63 102.09
Feb 1980 481.08 113.66
Jan 1980 490.03 114.16
Dec 1979 469.97 107.94
Nov 1979 467.09 106.16
Oct 1979 452.17 101.82
Sep 1979 489.38 109.32
Aug 1979 494.68 109.32
Jul 1979 474.25 103.81
Jun 1979 475.34 102.91
May 1979 462.77 99.08
Apr 1979 481.34 101.76
Mar 1979 486.05 101.59
Feb 1979 465.31 96.28
Jan 1979 488.61 99.93
Dec 1978 474.09 96.11
Nov 1978 469.22 94.7
Oct 1978 463.6 93.15
Sep 1978 514.94 102.54
Aug 1978 522.63 103.29
Jul 1978 511.75 100.68
Jun 1978 489.3 95.53
May 1978 503.46 97.24
Apr 1978 506.05 96.83
Mar 1978 469.9 89.21
Feb 1978 462.12 87.04
Jan 1978 476.88 89.25
Dec 1977 511.41 95.1
Nov 1977 511.61 94.83
Oct 1977 500.6 92.34
Sep 1977 525.02 96.53
Aug 1977 528.05 96.77
Jul 1977 541.17 98.85
Jun 1977 552.81 100.48
May 1977 532.33 96.12
Apr 1977 547.9 98.44
Mar 1977 552.4 98.42
Feb 1977 564.05 99.82
Jan 1977 582.45 102.03
Dec 1976 616.61 107.46
Nov 1976 587.87 102.1
Oct 1976 593.5 102.9
Sep 1976 610.16 105.24
Aug 1976 598.73 102.91
Jul 1976 604.97 103.44
Jun 1976 613.11 104.28
May 1976 592.13 100.18
Apr 1976 605.04 101.64
Mar 1976 613.96 102.77
Feb 1976 596.74 99.71
Jan 1976 605.8 100.86
Dec 1975 542.69 90.19
Nov 1975 550.99 91.24
Oct 1975 541.62 89.04
Sep 1975 512.98 83.87
Aug 1975 534.32 86.88
Jul 1975 546.83 88.75
Jun 1975 593.08 95.19
May 1975 572.18 91.15
Apr 1975 551.12 87.3
Mar 1975 528.24 83.36
Feb 1975 518.99 81.59
Jan 1975 493.43 76.98
Dec 1974 441.15 68.56
Nov 1974 453.72 69.97
Oct 1974 482.96 73.9
Sep 1974 419.35 63.54
Aug 1974 481.89 72.15
Jul 1974 536.15 79.31
Jun 1974 586.12 86
May 1974 599.74 87.28
Apr 1974 628.32 90.31
Mar 1974 656.59 93.98
Feb 1974 680.78 96.22
Jan 1974 692.05 96.57
Dec 1973 705.13 97.55
Nov 1973 698.17 95.96
Oct 1973 793.06 108.29
Sep 1973 801.12 108.43
Aug 1973 771.94 104.25
Jul 1973 815.81 108.22
Jun 1973 787.73 104.26
May 1973 798.37 104.95
Apr 1973 819.33 106.97
Mar 1973 860.1 111.52
Feb 1973 869.37 111.68
Jan 1973 909.59 116.03
Dec 1972 927.6 118.05
Nov 1972 918.92 116.67
Oct 1972 880.91 111.58
Sep 1972 876.92 110.55
Aug 1972 883.3 111.09
Jul 1972 855.92 107.39
Jun 1972 858.02 107.14
May 1972 879.27 109.53
Apr 1972 866.42 107.67
Mar 1972 864.73 107.2
Feb 1972 861.73 106.57
Jan 1972 844.55 103.94
Dec 1971 829.52 102.09
Nov 1971 767.44 93.99
Oct 1971 769.4 94.23
Sep 1971 804.92 98.34
Aug 1971 810.57 99.03
Jul 1971 784.25 95.58
Jun 1971 811.85 98.7
May 1971 825.6 99.63
Apr 1971 865.69 103.95
Mar 1971 837.47 100.31
Feb 1971 809.77 96.75
Jan 1971 804.51 95.88
Dec 1970 773.21 92.15
Nov 1970 735.37 87.2
Oct 1970 705.62 83.25
Sep 1970 718.17 84.3
Aug 1970 698.05 81.52
Jul 1970 668.33 78.05
Jun 1970 625.9 72.72
May 1970 662.28 76.55
Apr 1970 707.11 81.52
Mar 1970 783.56 89.63
Feb 1970 786.54 89.5
Jan 1970 751.13 85.02
Dec 1969 815.48 92.06
Nov 1969 835.41 93.81
Oct 1969 869.53 97.12
Sep 1969 838.21 93.12
Aug 1969 862.05 95.51
Jul 1969 833.34 91.83
Jun 1969 891.54 97.71
May 1969 949.19 103.46
Apr 1969 953.93 103.69
Mar 1969 939.04 101.51
Feb 1969 915.38 98.13
Jan 1969 966.3 103.01
Dec 1968 977.02 103.86
Nov 1968 1,022.33 108.37
Oct 1968 978.3 103.41
Sep 1968 976.83 102.67
Aug 1968 943.27 98.86
Jul 1968 935.26 97.74
Jun 1968 958.36 99.58
May 1968 955.2 98.68
Apr 1968 946.13 97.46
Mar 1968 878.21 90.2
Feb 1968 872.57 89.36
Jan 1968 903.34 92.24
Dec 1967 950.33 96.47
Nov 1967 928.74 94
Oct 1967 924.56 93.3
Sep 1967 961.21 96.71
Aug 1967 933.47 93.64
Jul 1967 947.36 94.75
Jun 1967 908.99 90.64
May 1967 896.04 89.08
Apr 1967 948.48 94.01
Mar 1967 912.8 90.2
Feb 1967 880.86 86.78
Jan 1967 879.14 86.61
Dec 1966 815.39 80.33
Nov 1966 816.61 80.45
Oct 1966 814.07 80.2
Sep 1966 781.88 76.56
Aug 1966 787.39 77.1
Jul 1966 859.03 83.6
Jun 1966 873.43 84.74
May 1966 890.5 86.13
Apr 1966 941.48 91.06
Mar 1966 928.3 89.23
Feb 1966 951.97 91.22
Jan 1966 975.39 92.88
Dec 1965 970.67 92.43
Nov 1965 965.09 91.61
Oct 1965 973.62 92.42
Sep 1965 950.71 89.96
Aug 1965 921.22 87.17
Jul 1965 900.93 85.25
Jun 1965 888.99 84.12
May 1965 940.38 88.42
Apr 1965 947.72 89.11
Mar 1965 919.27 86.16
Feb 1965 935.81 87.43
Jan 1965 937.21 87.56
Dec 1964 907.13 84.75
Nov 1964 903.6 84.42
Oct 1964 911.23 84.86
Sep 1964 903.93 84.18
Aug 1964 881.53 81.83
Jul 1964 893.19 83.18
Jun 1964 880.02 81.69
May 1964 868.6 80.37
Apr 1964 858.76 79.46
Mar 1964 853.58 78.98
Feb 1964 840.82 77.8
Jan 1964 832.61 77.04
Dec 1963 810.78 75.02
Nov 1963 794 73.23
Oct 1963 802.46 74.01
Sep 1963 779.95 71.7
Aug 1963 788.65 72.5
Jul 1963 751.99 69.13
Jun 1963 757.07 69.37
May 1963 775.21 70.8
Apr 1963 764.26 69.8
Mar 1963 728.89 66.57
Feb 1963 706.24 64.29
Jan 1963 727.22 66.2
Dec 1962 693.17 63.1
Nov 1962 683.94 62.26
Oct 1962 620.89 56.52
Sep 1962 618.14 56.27
Aug 1962 651.59 59.12
Jul 1962 641.78 58.23
Jun 1962 605.43 54.75
May 1962 659.39 59.63
Apr 1962 721.42 65.24
Mar 1962 771.64 69.55
Feb 1962 776.19 69.96
Jan 1962 766.31 68.84
Dec 1961 796.48 71.55
Nov 1961 793.92 71.32
Oct 1961 763.86 68.62
Sep 1961 742.82 66.73
Aug 1961 760.27 68.07
Jul 1961 743.15 66.76
Jun 1961 724.38 64.64
May 1961 745.9 66.56
Apr 1961 731.89 65.31
Mar 1961 729.09 65.06
Feb 1961 710.94 63.44
Jan 1961 692.33 61.78
Dec 1960 651.21 58.11
Nov 1960 622.41 55.54
Oct 1960 598.31 53.39
Sep 1960 603.82 53.52
Aug 1960 642.63 56.96
Jul 1960 626.27 55.51
Jun 1960 642.18 56.92
May 1960 632.02 55.83
Apr 1960 615.49 54.37
Mar 1960 628.6 55.34
Feb 1960 637.46 56.12
Jan 1960 633.82 55.61
Dec 1959 680.29 59.89
Nov 1959 662 58.28
Oct 1959 653.36 57.52
Sep 1959 648.3 56.88
Aug 1959 681.63 59.6
Jul 1959 692.04 60.51
Jun 1959 671 58.47
May 1959 675.73 58.68
Apr 1959 663.18 57.59
Mar 1959 640.63 55.44
Feb 1959 640.29 55.41
Jan 1959 638.54 55.45
Dec 1958 637.98 55.21
Nov 1958 604.34 52.48
Oct 1958 593.14 51.33
Sep 1958 578.46 50.06
Aug 1958 551.77 47.75
Jul 1958 543.42 47.19
Jun 1958 522.77 45.24
May 1958 509.48 44.09
Apr 1958 501.97 43.44
Mar 1958 488.17 42.1
Feb 1958 476.87 40.84
Jan 1958 486.92 41.7
Dec 1957 470.24 39.99
Nov 1957 490.58 41.72
Oct 1957 484.53 41.06
Sep 1957 500.57 42.42
Aug 1957 533.62 45.22
Jul 1957 565.36 47.91
Jun 1957 562.96 47.37
May 1957 565.69 47.43
Apr 1957 547.49 45.74
Mar 1957 529.88 44.11
Feb 1957 521.54 43.26
Jan 1957 541.1 44.72
Dec 1956 564.69 46.67
Nov 1956 547.44 45.08
Oct 1956 553.51 45.58
Sep 1956 552.73 45.35
Aug 1956 581.17 47.51
Jul 1956 601.97 49.39
Jun 1956 576.68 46.97
May 1956 559.06 45.2
Apr 1956 600.62 48.38
Mar 1956 604.1 48.48
Feb 1956 564.98 45.34
Jan 1956 546.04 43.82
Dec 1955 566.72 45.48
Nov 1955 564.99 45.51
Oct 1955 525.63 42.34
Sep 1955 542.14 43.67
Aug 1955 538.06 43.18
Jul 1955 542.3 43.52
Jun 1955 513.19 41.03
May 1955 474.16 37.91
Apr 1955 474.79 37.96
Mar 1955 457.53 36.58
Feb 1955 459.78 36.76
Jan 1955 458.15 36.63
Dec 1954 450.02 35.98
Nov 1954 426.66 34.24
Oct 1954 394.76 31.68
Sep 1954 402.61 32.31
Aug 1954 370.33 29.83
Jul 1954 383.36 30.88
Jun 1954 362.63 29.21
May 1954 362.38 29.19
Apr 1954 352.14 28.26
Mar 1954 334.45 26.94
Feb 1954 324.64 26.15
Jan 1954 323.77 26.08
Dec 1953 308.01 24.81
Nov 1953 307.38 24.76
Oct 1953 303.53 24.54
Sep 1953 289.88 23.35
Aug 1953 289.51 23.32
Jul 1953 308.41 24.75
Jun 1953 300.81 24.14
May 1953 306.94 24.54
Apr 1953 309.09 24.62
Mar 1953 317.51 25.29
Feb 1953 326.39 25.9
Jan 1953 331.19 26.38
Dec 1952 332.33 26.57
Nov 1952 320.94 25.66
Oct 1952 306.69 24.52
Sep 1952 306.94 24.54
Aug 1952 313.06 25.03
Jul 1952 317.69 25.4
Jun 1952 314.54 24.96
May 1952 301.82 23.86
Apr 1952 294.99 23.32
Mar 1952 309.45 24.37
Feb 1952 295.35 23.26
Jan 1952 304.21 24.14
Dec 1951 299.55 23.77
Nov 1951 289.43 22.88
Oct 1951 292.4 22.94
Sep 1951 297.61 23.26
Aug 1951 300.17 23.28
Jul 1951 288.82 22.4
Jun 1951 270.26 20.96
May 1951 277.48 21.52
Apr 1951 290.33 22.43
Mar 1951 278.03 21.48
Feb 1951 283.27 21.8
Jan 1951 284.78 21.66
Dec 1950 272.91 20.43
Nov 1950 263.78 19.51
Oct 1950 265.13 19.53
Sep 1950 266.2 19.45
Aug 1950 253.14 18.42
Jul 1950 247.21 17.84
Jun 1950 248.22 17.69
May 1950 264.63 18.78
Apr 1950 254.14 17.96
Mar 1950 244.66 17.29
Feb 1950 244.71 17.22
Jan 1950 242.29 17.05
Dec 1949 237.59 16.79
Nov 1949 225.35 16.06
Oct 1949 226.02 16.04
Sep 1949 217.7 15.58
Aug 1949 213.56 15.22
Jul 1949 211.93 15.04
Jun 1949 197.86 14.16
May 1949 199.11 14.19
Apr 1949 205.54 14.71
Mar 1949 211.32 15.06
Feb 1949 205.14 14.62
Jan 1949 211.78 15.22
Dec 1948 210.63 15.2
Nov 1948 203.55 14.75
Oct 1948 225.83 16.5
Sep 1948 211.14 15.49
Aug 1948 217.68 15.97
Jul 1948 216.93 15.85
Jun 1948 231.96 16.74
May 1948 233.21 16.69
Apr 1948 217.21 15.48
Mar 1948 215.21 15.08
Feb 1948 197.96 13.93
Jan 1948 206.85 14.68
Dec 1947 218.35 15.3
Nov 1947 216.56 14.98
Oct 1947 224.04 15.43
Sep 1947 219.39 15.11
Aug 1947 227.38 15.32
Jul 1947 237.08 15.76
Jun 1947 230.88 15.21
May 1947 220.35 14.45
Apr 1947 222.33 14.58
Mar 1947 231.33 15.17
Feb 1947 239.67 15.43
Jan 1947 243.24 15.66
Dec 1946 237.65 15.3
Nov 1946 230.16 14.68
Oct 1946 238.26 14.84
Sep 1946 244.9 14.96
Aug 1946 275.26 16.65
Jul 1946 302.92 17.96
Jun 1946 329.13 18.43
May 1946 346.23 19.18
Apr 1946 340.49 18.76
Mar 1946 329.21 18.04
Feb 1946 318.82 17.28
Jan 1946 340.74 18.57
Dec 1945 318.54 17.36
Nov 1945 317.16 17.19
Oct 1945 307.2 16.65
Sep 1945 296.13 16.05
Aug 1945 286.17 15.51
Jul 1945 270.48 14.66
Jun 1945 274.36 14.87
May 1945 280.03 15.01
Apr 1945 278.42 14.84
Mar 1945 255.34 13.61
Feb 1945 268.29 14.3
Jan 1945 252.72 13.47
Dec 1944 249.15 13.28
Nov 1944 242.07 12.83
Oct 1944 241.12 12.78
Sep 1944 240.37 12.74
Aug 1944 241.88 12.82
Jul 1944 239.8 12.71
Jun 1944 246.29 12.98
May 1944 235.67 12.35
Apr 1944 226.51 11.87
Mar 1944 230.7 12.02
Feb 1944 226.86 11.82
Jan 1944 227.43 11.85
Dec 1943 223.98 11.67
Nov 1943 211.5 11.02
Oct 1943 228.58 11.91
Sep 1943 231.85 12.08
Aug 1943 227.78 11.8
Jul 1943 227.43 11.85
Jun 1943 235.67 12.35
May 1943 229.95 12.05
Apr 1943 222.44 11.59
Mar 1943 224.84 11.58
Feb 1943 216.77 10.97
Jan 1943 206.3 10.44
Dec 1942 193.06 9.77
Nov 1942 184.67 9.29
Oct 1942 187.17 9.36
Sep 1942 179.12 8.85
Aug 1942 174.46 8.62
Jul 1942 174.31 8.56
Jun 1942 170.05 8.3
May 1942 166.98 8.15
Apr 1942 158.89 7.66
Mar 1942 167.18 8.01
Feb 1942 181.56 8.59
Jan 1942 188.25 8.85
Dec 1941 187.23 8.69
Nov 1941 197.77 9.12
Oct 1941 207.36 9.5
Sep 1941 225.58 10.2
Aug 1941 230.4 10.28
Jul 1941 236.04 10.39
Jun 1941 223.77 9.85
May 1941 217.53 9.38
Apr 1941 217.42 9.31
Mar 1941 234.24 9.96
Feb 1941 234.95 9.92
Jan 1941 238.5 10.07
Dec 1940 250.58 10.58
Nov 1940 252.13 10.57
Oct 1940 264.3 11.08
Sep 1940 254.28 10.66
Aug 1940 250.46 10.5
Jul 1940 245.45 10.29
Jun 1940 236.37 9.98
May 1940 221.12 9.27
Apr 1940 290.78 12.19
Mar 1940 290.54 12.18
Feb 1940 289.35 12.13
Jan 1940 289.51 12.05
Dec 1939 297.22 12.46
Nov 1939 291.02 12.2
Oct 1939 306.04 12.83
Sep 1939 302.93 12.79
Aug 1939 270.55 11.18
Jul 1939 291.36 12.04
Jun 1939 262.81 10.86
May 1939 280.71 11.6
Apr 1939 264.5 10.93
Mar 1939 263.8 10.98
Feb 1939 305.12 12.7
Jan 1939 293.4 12.3
Dec 1938 313.44 13.14
Nov 1938 303.66 12.73
Oct 1938 314.15 13.17
Sep 1938 289.9 12.24
Aug 1938 285.64 12.06
Jul 1938 292.03 12.33
Jun 1938 273.79 11.56
May 1938 219.56 9.27
Apr 1938 230 9.78
Mar 1938 201.32 8.5
Feb 1938 268.58 11.34
Jan 1938 251.4 10.69
Dec 1937 244.67 10.55
Nov 1937 255.88 11.11
Oct 1937 282.49 12.35
Sep 1937 314.74 13.76
Aug 1937 369.42 16.04
Jul 1937 386.23 16.77
Jun 1937 357.14 15.4
May 1937 377.09 16.26
Apr 1937 383.69 16.43
Mar 1937 421.44 17.92
Feb 1937 427.74 18.06
Jan 1937 420.87 17.77
Dec 1936 409.81 17.18
Nov 1936 412.19 17.28
Oct 1936 411 17.23
Sep 1936 381.9 16.01
Aug 1936 381.42 15.99
Jul 1936 380.8 15.85
Jun 1936 359.12 14.84
May 1936 351.02 14.4
Apr 1936 335.66 13.77
Mar 1936 363.69 14.92
Feb 1936 353.31 14.6
Jan 1936 346.29 14.31
Dec 1935 325 13.43
Nov 1935 313.14 12.94
Oct 1935 303.73 12.46
Sep 1935 282.52 11.59
Aug 1935 273.99 11.24
Jul 1935 270.09 11.08
Jun 1935 249.61 10.24
May 1935 231.83 9.58
Apr 1935 224.57 9.28
Mar 1935 205.98 8.45
Feb 1935 213.05 8.74
Jan 1935 223.45 9.1
Dec 1934 236.76 9.5
Nov 1934 235.99 9.54
Oct 1934 217.93 8.81
Sep 1934 222.96 9.08
Aug 1934 228.03 9.15
Jul 1934 216.32 8.68
Jun 1934 244.48 9.81
May 1934 241.3 9.61
Apr 1934 262.64 10.46
Mar 1934 266.66 10.62
Feb 1934 270.17 10.76
Jan 1934 282.59 11.17
Dec 1933 252.23 9.97
Nov 1933 249.96 9.88
Oct 1933 226.68 8.96
Sep 1933 245.91 9.72
Aug 1933 280.57 11.09
Jul 1933 253.65 9.95
Jun 1933 286.88 10.91
May 1933 255.5 9.64
Apr 1933 207.53 7.83
Mar 1933 155.05 5.85
Feb 1933 148.83 5.66
Jan 1933 179.66 6.94
Dec 1932 176.41 6.92
Nov 1932 165.71 6.55
Oct 1932 174.76 6.96
Sep 1932 201.37 8.08
Aug 1932 207.54 8.39
Jul 1932 148.07 6.03
Jun 1932 108.78 4.43
May 1932 108.96 4.47
Apr 1932 140.07 5.83
Mar 1932 174.37 7.31
Feb 1932 196.34 8.29
Jan 1932 185.43 7.94
Dec 1931 185.73 8.12
Nov 1931 215.82 9.5
Oct 1931 233.77 10.43
Sep 1931 216.18 9.71
Aug 1931 306.53 13.86
Jul 1931 303.65 13.73
Jun 1931 327.98 14.83
May 1931 284.19 13.02
Apr 1931 325.12 15.09
Mar 1931 357.29 16.69
Feb 1931 383.51 18.03
Jan 1931 340.04 16.19
Dec 1930 318.19 15.34
Nov 1930 333.54 16.38
Oct 1930 342.86 16.94
Sep 1930 373.99 18.59
Aug 1930 432.52 21.37
Jul 1930 426.69 21.21
Jun 1930 406.71 20.46
May 1930 483.93 24.49
Apr 1930 489.14 24.9
Mar 1930 477.22 24.15
Feb 1930 457.32 23.28
Jan 1930 445.07 22.79
Dec 1929 416.47 21.45
Nov 1929 403.83 20.92
Oct 1929 466.18 24.15
Sep 1929 582.2 30.16
Aug 1929 612.12 31.71
Jul 1929 557.49 28.88
Jun 1929 535.3 27.41
May 1929 487.77 24.83
Apr 1929 512.59 25.94
Mar 1929 501.52 25.53
Feb 1929 499.76 25.59
Jan 1929 502.69 25.74
Dec 1928 475.54 24.35
Nov 1928 471.42 24.28
Oct 1928 420.93 21.68
Sep 1928 408.08 21.14
Aug 1928 407.58 20.87
Jul 1928 379.46 19.43
Jun 1928 373.79 19.14
May 1928 388.32 20
Apr 1928 385.7 19.75
Mar 1928 376.53 19.28
Feb 1928 337.08 17.26
Jan 1928 339.16 17.57
Dec 1927 340.9 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 June 30, 2026, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 16.74% 20.86%
Last 3 years 15.47% 19%
Last 5 years 7.26% 11.78%
Last 10 years 9.94% 13.58%
Last 20 years 6.6% 9.28%
Last 30 years 5.68% 8.38%
Last 40 years 5.87% 8.87%
Last 50 years 5.14% 8.93%
Last 75 years 4.53% 8.16%

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
Jul 17, 2026
7,457.69
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%