| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | HWK.AS | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 · ytd | −7.9% | +5.5% | −8.1% | +3.6% | — | — | — | — | — | — | — | — | −7.4% | +17.7% | −25.1pp |
| 2024 | −17.4% | −0.6% | +3.1% | +4.2% | −1.2% | +4.7% | −1.7% | −1.1% | +2.3% | +1.7% | −2.8% | +23.4% | +10.8% | +24.9% | −14.1pp |
| 2023 | +13.9% | −5.6% | +5.9% | −5.6% | +2.9% | +4.0% | +9.9% | −6.5% | −6.4% | +2.9% | −3.9% | +12.7% | +23.4% | +26.2% | −2.8pp |
| 2022 | −2.5% | +0.0% | −2.6% | +1.1% | −1.0% | −15.8% | −5.0% | +4.6% | +0.6% | +1.9% | +1.2% | −4.2% | −21.0% | −18.2% | −2.8pp |
| 2021 | +0.0% | −2.0% | +0.0% | +1.0% | −1.0% | +5.0% | −4.8% | +0.0% | +2.0% | +2.9% | +1.0% | −5.7% | −2.0% | +28.7% | −30.7pp |
| 2020 | −21.1% | +0.7% | −20.5% | +0.0% | +37.5% | −24.2% | +8.0% | −37.0% | +47.1% | −28.4% | +16.2% | −1.9% | −46.3% | +18.3% | −64.6pp |
| 2019 | +11.4% | −10.3% | +0.0% | −14.3% | −10.0% | +3.7% | +7.1% | +0.0% | +26.7% | +0.0% | +0.0% | +0.0% | +8.6% | +31.2% | −22.7pp |
| 2018 | — | −3.4% | −2.8% | −4.3% | −7.5% | +0.0% | −5.4% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | −21.3% | −4.6% | −16.8pp |
| 2017 | −2.2% | +13.1% | −1.3% | −10.9% | +34.3% | −4.3% | −6.7% | −16.4% | +7.7% | +0.0% | +19.8% | −1.8% | +23.6% | +21.7% | +1.9pp |
| 2016 | −3.5% | −16.4% | +3.8% | −4.2% | −0.8% | +0.0% | −18.0% | +13.3% | +17.6% | −3.2% | −28.9% | +30.9% | −21.7% | +12.0% | −33.7pp |
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. HWK.AS 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.
