What if you invested $1,000 in S&P 500 (SPY) in 2020? (Inflation-Adjusted)
SPY · Index · Adjusted to 2026 dollars using BLS CPI-U data
View nominal (non-adjusted) versionA $1,000 investment in S&P 500 (SPY) in 2020 grew to $2,203 in nominal terms. But 2020 dollars had 25% more purchasing power than today. After adjusting for cumulative inflation using BLS CPI-U data, the real value of that growth works out to $1,762 in constant 2020 dollars, equivalent to a +9.6% real annualized return.
Nominal final value
$2,203
+120.3% total return
Real value (2020 dollars)
$1,762
+76.2% real total return
Real annualized return
+9.6%
vs. +13.5% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in S&P 500 (SPY) since 2020, values in constant 2020 dollars
| Year | Nominal Value | Real Value (2020 $) |
|---|---|---|
| 2020 | $1,000 | $1,000 |
| 2021 | $1,172 | $1,115 |
| 2022 | $1,444 | $1,259 |
| 2023 | $1,325 | $1,113 |
| 2024 | $1,598 | $1,304 |
| 2025 | $2,018 | $1,614 |
| 2026 | $2,347 | $1,878 |
Inflation adjustment uses BLS CPI-U annual data, deflated to 2026 dollars. Nominal stock data from Yahoo Finance (split-adjusted closing prices). Real values are expressed in constant 2020 purchasing-power dollars. For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. See our methodology and full disclaimer.