What if you invested $220 monthly in the S&P 500 for 20 years?
This shows the actual historical result of investing a fixed amount each month in an S&P 500 ETF (SPY) over 20 years starting in 2004.
Investment conditions
Asset · S&P 500 ETF (SPY) · recurring monthly purchases · 20 years
Method · Recurring monthly investment
Period · 2004-07-01 ~ 2024-07-01
Amount · $222 / month
As of · 2024-07-01
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)
-39.9%
Largest drop from peak
Longest loss period
15months
Months in loss: 23
Recovery period
5months
Growth over time
Invested principal (dashed) and portfolio value (solid). Values below match the calculation.
Total invested $53,556 → Final value $209,565 (+291.3%), Maximum drawdown (MDD) -39.9%
Why this period and asset
Twenty years spans more than one economic cycle and passes through two or more major crises. The window from 2004 contains the 2008 global financial crisis (a near-halving from the peak), the 2020 COVID crash, and the 2022 rate-hike downturn. It is a representative answer to 'what if you kept contributing through the scariest declines, several times over?'
Interpreting the result
Stretching the contribution window from 10 to 20 years gives the earliest contributions far more time to compound, so the multiple of final value over total invested grows noticeably. But those 20 years necessarily include periods of deep maximum drawdown and loss stretches that took many months to recover. In the metrics below, weigh the final result against those drawdown, loss, and recovery periods.
Caveats & limits
Figures use adjusted close (dividends and splits reflected) and exclude exchange rates, trading fees, and taxes. This is only the result of one specific 20-year window and does not guarantee the future; shifting the start by even a few years can change the outcome substantially.
Data sources & limits
- Price data source: Yahoo Finance / FinanceDataReader
- Collected on: 2026-07-23
- Effective trading date: 2024-07-01
- Price basis: 調整後終値(配当・株式分割を反映)
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
How does 20-year investing differ from 10-year?
The earliest money has twice as long to compound, so the multiple over total invested tends to grow. In exchange, you must sit through more downturns. See the metrics below.
Is the 2008 crisis included in this period?
Yes. The 2004–2024 window includes both the 2008 financial crisis and the 2020 COVID crash. Their mark shows in the maximum drawdown metric.
Are dividends, FX, and taxes reflected?
Dividends and splits are reflected via adjusted close, but exchange rates, trading fees, and taxes are not — figures are pre-tax.
Do the past 20 years repeat in the future?
No. This only shows historical data and does not predict future returns or recommend any specific investment.
Related scenarios
📋 結果は過去のデータに基づくものです。過去のリターンは将来のリターンを保証しません。
📋 本サービスは投資アドバイスではなく、投資を理解するための教育目的で提供されています。