Markets · Historical
S&P 500 Return Calculator
Total returns with dividends reinvested, for any year range from 1928 to 2025. Adjusted side-by-side for inflation.
Calculator
Period: 35 years
$10,000 invested at start of 1991 → end of 2025
$400,577
Total return
+3905.8%
Annualized (CAGR)
+11.12%
Real CAGR
+8.29%
Inflation
+146.5%
Growth of $10,000 · log scale
Reference Data
| Start (1990) | End (2025) | |
|---|---|---|
| Year | 1990 | 2025 |
| $1 grows to (S&P 500 TR) | $1.00 | $40.06 |
| CPI index | 130.7 | 322.1 |
| Inflation multiplier | 1.00× | 2.46× |
Nominal Returns (not adjusted for inflation)
- Final value
- $400,577
- Total return
- +3905.8%
- Annualized (CAGR)
- +11.12%
- Average annual (arithmetic)
- +12.58%
- Best year
- 1995 +37.2%
- Worst year
- 2008 -36.5%
- Positive years
- 29 of 35
- Negative years
- 6 of 35
Real Returns (adjusted for inflation)
- Final value (in 1990 dollars)
- $162,528
- Total real return
- +1525.3%
- Real annualized (CAGR)
- +8.29%
- Cumulative inflation
- +146.5%
- Inflation annualized
- +2.61%
- Real gain over inflation
- +8.29%
Year-by-Year Breakdown
1991$13,023
Nominal +30.2%Real +25.0%$12,497
1992$13,998
Nominal +7.5%Real +4.3%$13,041
1993$15,394
Nominal +10.0%Real +6.8%$13,924
1994$15,599
Nominal +1.3%Real -1.2%$13,757
1995$21,402
Nominal +37.2%Real +33.4%$18,354
1996$26,255
Nominal +22.7%Real +19.2%$21,871
1997$34,946
Nominal +33.1%Real +30.1%$28,458
1998$44,850
Nominal +28.3%Real +26.4%$35,962
1999$54,219
Nominal +20.9%Real +18.3%$42,535
2000$49,323
Nominal -9.0%Real -12.0%$37,436
2001$43,478
Nominal -11.8%Real -14.3%$32,087
2002$33,926
Nominal -22.0%Real -23.2%$24,648
2003$43,547
Nominal +28.4%Real +25.5%$30,933
2004$48,224
Nominal +10.7%Real +7.9%$33,366
2005$50,554
Nominal +4.8%Real +1.4%$33,832
2006$58,445
Nominal +15.6%Real +12.0%$37,891
2007$61,648
Nominal +5.5%Real +2.6%$38,860
2008$39,115
Nominal -36.5%Real -38.9%$23,745
2009$49,262
Nominal +25.9%Real +26.4%$30,011
2010$56,563
Nominal +14.8%Real +13.0%$33,903
2011$57,751
Nominal +2.1%Real -1.0%$33,556
2012$66,927
Nominal +15.9%Real +13.5%$38,099
2013$88,444
Nominal +32.1%Real +30.2%$49,621
2014$100,402
Nominal +13.5%Real +11.7%$55,431
2015$101,787
Nominal +1.4%Real +1.3%$56,129
2016$113,768
Nominal +11.8%Real +10.4%$61,954
2017$138,353
Nominal +21.6%Real +19.1%$73,771
2018$132,501
Nominal -4.2%Real -6.5%$68,966
2019$173,854
Nominal +31.2%Real +28.9%$88,880
2020$205,182
Nominal +18.0%Real +16.6%$103,617
2021$263,598
Nominal +28.5%Real +22.7%$127,144
2022$216,045
Nominal -18.0%Real -24.1%$96,486
2023$272,346
Nominal +26.1%Real +21.1%$116,821
2024$340,106
Nominal +24.9%Real +21.3%$141,707
2025$400,577
Nominal +17.8%Real +14.7%$162,528
| Year | S&P TR | Real | Balance | Real bal. |
|---|---|---|---|---|
| 1991 | +30.2% | +25.0% | $13,023 | $12,497 |
| 1992 | +7.5% | +4.3% | $13,998 | $13,041 |
| 1993 | +10.0% | +6.8% | $15,394 | $13,924 |
| 1994 | +1.3% | -1.2% | $15,599 | $13,757 |
| 1995 | +37.2% | +33.4% | $21,402 | $18,354 |
| 1996 | +22.7% | +19.2% | $26,255 | $21,871 |
| 1997 | +33.1% | +30.1% | $34,946 | $28,458 |
| 1998 | +28.3% | +26.4% | $44,850 | $35,962 |
| 1999 | +20.9% | +18.3% | $54,219 | $42,535 |
| 2000 | -9.0% | -12.0% | $49,323 | $37,436 |
| 2001 | -11.8% | -14.3% | $43,478 | $32,087 |
| 2002 | -22.0% | -23.2% | $33,926 | $24,648 |
| 2003 | +28.4% | +25.5% | $43,547 | $30,933 |
| 2004 | +10.7% | +7.9% | $48,224 | $33,366 |
| 2005 | +4.8% | +1.4% | $50,554 | $33,832 |
| 2006 | +15.6% | +12.0% | $58,445 | $37,891 |
| 2007 | +5.5% | +2.6% | $61,648 | $38,860 |
| 2008 | -36.5% | -38.9% | $39,115 | $23,745 |
| 2009 | +25.9% | +26.4% | $49,262 | $30,011 |
| 2010 | +14.8% | +13.0% | $56,563 | $33,903 |
| 2011 | +2.1% | -1.0% | $57,751 | $33,556 |
| 2012 | +15.9% | +13.5% | $66,927 | $38,099 |
| 2013 | +32.1% | +30.2% | $88,444 | $49,621 |
| 2014 | +13.5% | +11.7% | $100,402 | $55,431 |
| 2015 | +1.4% | +1.3% | $101,787 | $56,129 |
| 2016 | +11.8% | +10.4% | $113,768 | $61,954 |
| 2017 | +21.6% | +19.1% | $138,353 | $73,771 |
| 2018 | -4.2% | -6.5% | $132,501 | $68,966 |
| 2019 | +31.2% | +28.9% | $173,854 | $88,880 |
| 2020 | +18.0% | +16.6% | $205,182 | $103,617 |
| 2021 | +28.5% | +22.7% | $263,598 | $127,144 |
| 2022 | -18.0% | -24.1% | $216,045 | $96,486 |
| 2023 | +26.1% | +21.1% | $272,346 | $116,821 |
| 2024 | +24.9% | +21.3% | $340,106 | $141,707 |
| 2025 | +17.8% | +14.7% | $400,577 | $162,528 |
Annual S&P 500 total returns (dividends reinvested) from Aswath Damodaran, NYU Stern. Inflation adjusted with BLS CPI-U. Returns are pre-tax and do not account for fees or transaction costs. For informational use only — not investment advice.