| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | KREF | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | +0.7% | −16.1% | −8.3% | +0.2% | +9.1% | +3.7% | +5.8% | — | — | — | — | — | −6.9% | +7.5% | −14.5pp |
| 2025 | −1.2% | +11.1% | −0.3% | −14.4% | −3.5% | +1.0% | +3.1% | +6.5% | −3.9% | −9.6% | +4.3% | −0.2% | −9.2% | +17.7% | −26.9pp |
| 2024 | −7.5% | −20.3% | +5.8% | −6.5% | +0.5% | −1.6% | +26.9% | +3.9% | +5.6% | −6.2% | +0.3% | −11.0% | −15.7% | +24.9% | −40.6pp |
| 2023 | +14.1% | −9.0% | −18.4% | −5.7% | +4.6% | +12.3% | +2.4% | +0.4% | −1.6% | −12.0% | +20.3% | +8.7% | +9.2% | +26.2% | −17.0pp |
| 2022 | +2.4% | +0.6% | −2.0% | −7.8% | +7.5% | −12.5% | +11.7% | −1.2% | −13.5% | +7.2% | −5.0% | −13.0% | −25.9% | −18.2% | −7.7pp |
| 2021 | −4.5% | +7.7% | +2.1% | +14.7% | +2.6% | +3.2% | −1.5% | +0.1% | +0.9% | +2.9% | −5.0% | +3.0% | +27.9% | +28.7% | −0.9pp |
| 2020 | +3.1% | −6.7% | −21.4% | +5.1% | +2.6% | +5.0% | +0.4% | +9.3% | −6.9% | +1.1% | +9.1% | +0.6% | −2.8% | +18.3% | −21.2pp |
| 2019 | +7.7% | −1.2% | +0.4% | +0.7% | −1.9% | +2.9% | +0.6% | −5.6% | +5.5% | +2.7% | +0.7% | +3.3% | +16.1% | +31.2% | −15.1pp |
| 2018 | −2.8% | +0.8% | +4.4% | −1.7% | +3.2% | −0.7% | +4.8% | +2.3% | −2.8% | −0.4% | −2.9% | +0.4% | +4.3% | −4.6% | +8.8pp |
| 2017 · part | — | — | — | — | — | −1.6% | −4.7% | +1.3% | +3.1% | −3.9% | +1.4% | −0.6% | −5.1% | +21.7% | −26.8pp |
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. KREF is on the total return (splits + dividends) basis, SPY on the total return (splits + dividends) basis. Both columns are on the same basis, so the Δ column is a like-for-like difference.
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.
