| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | MARO | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | −6.7% | −12.3% | −14.3% | +20.4% | +3.3% | −7.8% | −21.9% | — | — | — | — | — | −37.2% | +9.3% | −46.5pp |
| 2025 | −7.2% | −24.6% | −24.6% | +7.6% | −1.3% | +3.2% | −10.4% | −3.9% | −0.1% | −13.7% | −38.0% | −24.5% | −79.9% | +17.7% | −97.6pp |
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. MARO 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.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Years ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Positive ⓘ | 0% | 0% | 0% | 100% | 50% | 50% | 0% | 0% | 0% | 0% | 0% | 0% |
| Median | −6.9% | −18.4% | −19.4% | +14.0% | +1.0% | −2.3% | −16.1% | −3.9% | −0.1% | −13.7% | −38.0% | −24.5% |
| Best | −6.7% | −12.3% | −14.3% | +20.4% | +3.3% | +3.2% | −10.4% | −3.9% | −0.1% | −13.7% | −38.0% | −24.5% |
| Worst | −7.2% | −24.6% | −24.6% | +7.6% | −1.3% | −7.8% | −21.9% | −3.9% | −0.1% | −13.7% | −38.0% | −24.5% |
| vs SPY ⓘ | −9.0pp | −17.4pp | −14.2pp | +9.2pp | −4.8pp | −4.4pp | −16.9pp | −5.9pp | −3.6pp | −16.1pp | −38.2pp | −24.6pp |
19 monthly observations across 2025–2026, benchmark SPY. The highlighted column is the current calendar month. Months are calendar months, not rolling 30-day windows.
