Indices · stocks and bonds since 1871, homes since 1890
Market indices
Long histories of US stocks, bonds and homes, month by month, from Robert Shiller's data: in dollars as quoted and, on the switch, after inflation.
Since 1890, after inflation: stocks ×7,393, bonds ×9.27, homes ×2.16What $1 became by July 2026 in the S&P 500 with dividends reinvested, in 10-year US Treasuries with coupons reinvested and in US home prices (the price alone: no rents, no upkeep).
In dollars as quoted, from 1890 to July 2026: stocks ×324K, bonds ×407, homes ×94.8, while consumer prices rose ×43.9. Before 1953 the home price index has one figure a year, so all lines use January of each year until then.
$100 in January 1950 bought as much as $1,428.84 in October 2026: prices rose ×14.3.
Open the calculatorHow it is calculated
- The comparison: $1 at the start of the period in each, on the dates of the home price index (one figure a year to 1952, monthly since; January for stocks and bonds before 1953), to its latest month. Stocks: the S&P 500 with dividends reinvested; bonds: a 10-year Treasury bond with its interest reinvested; homes: the price index alone, without rents, upkeep or taxes. No fees or taxes anywhere.
- Monthly averages: each month is the average of its daily closes, so the figures differ from month-end or intraday values, and short crashes look shallower. The latest months are preliminary (Shiller's notes: Oct price is Oct 2nd close; Sept/Oct CPI estimated; Oct GS10 is Oct 2nd value); dividends are estimated from July 2026.
- With dividends: dividends reinvested every month: the index grows by the month's price change plus a twelfth of the year's dividends (Shiller's method). No fees or taxes.
- US government bonds: a 10-year Treasury bond bought each month at that month's yield, its interest reinvested (Shiller's method), monthly since 1871; a modelled index, not a fund.
- US home prices: Robert Shiller's index of existing single-family homes, yearly from 1890 and monthly from 1953 (the S&P CoreLogic Case-Shiller national index since 1975); a price index, without rents and the costs of owning.
- After inflation (the switch at the top of the page): every value is converted into October 2026 dollars with US consumer prices (CPI-U, from Shiller's data): multiplied by the CPI of October 2026 and divided by the CPI of its own month. The latest months are preliminary.
- Not investment advice. Past returns, and past crashes, do not tell what will happen next.