For information indices like cac40 are price of stock without dividends reinvested. If you want something that represent the gain of an investor you have to loo

For information indices like cac40 are price of stock without dividends reinvested. If you want something that represent the gain of an investor you have to look at "cac 40 gross tr". The difference between the standard index and the reinvested index is less visible in USA because a lot of companies chose to buy stock instead of paying dividends. So using the mains indices like you do to compare economic growth or investor gains is meaningless.