There are several versions of the S&P 500. The version used here is the price index, which doesn't include dividends. The total return index, ^SPXTR[1], does

There are several versions of the S&P 500. The version used here is the price index, which doesn't include dividends. The total return index, ^SPXTR[1], does account for dividends. https://ycharts.com/indices/%5ESPXTR/level https://ycharts.com/indices/%5ESPXTR/level