The S&P 500 in 1945
The S&P 500 rose 30.7% in 1945, from 13.28 to 17.36; with dividends reinvested, the total return was +35.8%. That ranks 1945 9th-best of the 98 complete calendar years since 1928.
- Price return
- +30.7%
- Total return
- +35.8%
- Deepest decline in the year
- −6.9%March 26, 1945
- Year-end close
- 17.36December 31, 1945
- Highest close
- 17.68December 10, 1945
- Lowest close
- 13.21January 23, 1945
- Record closes
- 0
- Trading days
- 246
- Best day
- +2.0%September 18, 1945
- Worst day
- −2.2%July 17, 1945
- Shiller CAPE in January
- 12.0
How 1945 unfolded
The highest close of the year was 17.68 on December 10, 1945; the lowest was 13.21 on January 23, 1945.
The deepest fall from a peak within the year was −6.9%, bottoming on March 26, 1945.
No close set a new all-time high.
The best session was September 18, 1945 (+2.0%); the worst was July 17, 1945 (−2.2%).
The U.S. economy was in an NBER-dated recession in 8 months of 1945: March 1945 to October 1945.
The Shiller CAPE stood at 12.0 in January 1945.
Drawdowns that touched 1945
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| The 1929 Crash and the Great Depression | September 16, 1929 → June 1, 1932 | −86.2% | September 22, 1954 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 1945.
What $10,000 at the start of 1945 became
$10,000 invested in the S&P 500 at the start of 1945, with dividends reinvested, grew to $72,090,145 by the end of 2025: 11.6% a year. On price alone, without dividends, it came to $5,154,534.
FAQ
What was the S&P 500 return in 1945?
The S&P 500 rose 30.7% in 1945, from 13.28 to 17.36; with dividends reinvested, the total return was +35.8%.
How far did the S&P 500 fall in 1945?
Its deepest peak-to-trough decline within 1945 was −6.9%, reaching bottom on March 26, 1945.
Was 1945 part of a bear market?
No. No decline of 20% or more from a record close was under way in 1945.
Did the S&P 500 hit a record high in 1945?
No. The index never closed above its previous record in 1945.
Data and sources
Daily closes · Calendar-year price returns · Calendar-year total returns · Intra-year declines · Drawdowns from record closes · Shiller CAPE · NBER recession months (via FRED)
Index levels are daily closes. Price return leaves dividends out; total return reinvests them. A past year's page changes only when a later year completes and the rankings move.