What if you started S&P 500 DCA around the ChatGPT launch?
This uses real data to show what would have happened if — around the ChatGPT launch (November 30, 2022) that sparked the generative-AI boom — you had plainly invested KRW 300,000 a month in the S&P 500 index ETF (SPY) rather than any single AI stock.
⚠️ Know the risk first
An index also suffers losses in downturns. Early in DCA the value can fall below contributions, and the result only holds if you kept investing.
What happened that day
On November 30, 2022, OpenAI launched ChatGPT, kicking off the generative-AI boom. Specific AI stocks like Nvidia then surged, but no one knew at the time which would win.
Why this date
We use the ChatGPT launch, which sparked the generative-AI boom, as a DCA-start milestone, computing 'what if you plainly invested in the index instead of a single stock.'
Investment conditions
Asset · S&P 500 ETF (SPY) · KRW 300,000 monthly DCA
Method · Recurring monthly investment
Period · 2022-11-30 ~ 2026-07-01
Amount · $222 / month
As of · 2026-07-01
Key metrics
These results do not reflect taxes. Based on historical data.
Risk & recovery
As important as returns. This service does not hide maximum drawdown or loss periods.
Maximum drawdown (MDD)
-14.1%
Largest drop from peak
Longest loss period
2months
Months in loss: 3
Recovery period
1months
Growth over time
Invested principal (dashed) and portfolio value (solid). Values below match the calculation.
Total invested $10,000 → Final value $14,515 (+45.1%), Maximum drawdown (MDD) -14.1%
Why this period and asset
On November 30, 2022, OpenAI launched ChatGPT, kicking off the generative-AI boom. Specific AI stocks like Nvidia then soared, but no one knew for sure at the time which would win. This case shows what plainly investing in a whole-market index would have looked like, instead of 'which AI stock to pick.' It's a lens comparing the plainness of diversification against the flash of single stocks.
Interpreting the result
Index DCA tracks the market average, avoiding both the jackpots and the wipeouts of a single stock. Check the final value versus total contributed and the maximum drawdown below. Over the same period, single stocks like Nvidia rose far more, but that is the result of picking a winner in hindsight, and you must also weigh the large volatility and survivorship bias along the way. Index DCA isn't flashy, but it lets you participate in market growth without having to guess which stock wins.
Caveats & limits
An index also suffers losses in downturns. There were corrections in this period too, and early in DCA the value can fall below contributions. It's not 'safe because it's an index' but 'milder in swings than single stocks because it's diversified.' Always review the maximum drawdown and loss periods. Figures use adjusted close and exclude exchange rates, fees, and taxes, and past results do not guarantee the future.
Event fact sources
- OpenAI — Introducing ChatGPT (2022-11-30)
- Reuters, ChatGPT launch coverage (2022-11)
Requested date vs actual trading date
If the event date is a holiday, contributions begin on the next trading day. The 'effective trading date' below is the date actually used.
Data sources & limits
- Price data source: Yahoo Finance / FinanceDataReader
- Collected on: 2026-07-28
- Effective trading date: 2026-07-01
- Price basis: Adjusted close (reflects dividends and stock splits)
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
Why use the index instead of Nvidia?
At the ChatGPT launch, no one knew which AI stock would ultimately win. Rather than guessing the winner in advance, we chose the index to show the result of plainly investing in the whole market.
So is the index always better than single stocks?
No. Winning single stocks can rise far more than the index. But that's the result of picking a winner in hindsight, with large volatility and survivorship bias. The index is less flashy but reduces stock-selection risk.
Were there losses early in DCA?
There were index corrections in this period too, so early in DCA the value may have fallen below contributions. Check the maximum drawdown and loss-period metrics below.
Are FX and taxes reflected?
No. Exchange rates, trading fees, and taxes are not reflected — figures are pre-tax. This page only shows historical data and recommends no product.
Related scenarios
📋 Results are based on historical data; past returns do not guarantee future returns.
📋 This service is provided for educational purposes to help you understand investing, not as investment advice.