| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | BENFW | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | +8.5% | −12.2% | +5.9% | +0.0% | +0.0% | +0.9% | +7.4% | — | — | — | — | — | +9.4% | +7.5% | +1.9pp |
| 2025 | +9.1% | −6.0% | −7.6% | −28.8% | +26.9% | +4.5% | +13.0% | +109.0% | −11.7% | +25.0% | −42.8% | +2.9% | +37.7% | +17.7% | +19.9pp |
| 2024 | +0.0% | −25.0% | −4.0% | +11.1% | +6.3% | −14.1% | +56.2% | −34.2% | +14.7% | +2.3% | −20.5% | +10.0% | −23.0% | +24.9% | −47.9pp |
| 2023 · part | — | — | — | — | — | — | −31.6% | +22.2% | −3.0% | −51.4% | −35.8% | −16.7% | −78.9% | +26.2% | −105.1pp |
A month’s return is its month-end close over the prior month-end’s, so a year’s figure is exactly the product of its twelve monthly cells — no separate annualisation, no resampling. A blank cell means no return exists for that month (the series had not started, or it is the very first month-end, which has nothing to be measured against). Blank is never zero.
Basis. BENFW is on the price only (split-adjusted close; dividends NOT included) basis, SPY on the total return (splits + dividends) basis. THE TWO DIFFER: one series includes dividends and the other does not, so the Δ column flatters whichever one is on the total-return basis. Read it with that in mind — the bases are printed rather than silently reconciled.
Partial years. A year marked “ytd” or “part” does not cover the full calendar year: either the stored history starts inside it (the figure is measured from the first month-end present) or the data stops before December (the figure runs through the last stored close). The row’s own tooltip names the exact boundary. It is never dressed up as a calendar-year return.
End of day. These are stored end-of-day closes, and the window is anchored on the LAST stored bar rather than today’s date — so the newest row ends where the data ends. Nothing here is intraday.
