| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | NCMI | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | −7.2% | −1.4% | −13.6% | +11.1% | −6.4% | +21.0% | +6.1% | — | — | — | — | — | +5.5% | +7.5% | −2.0pp |
| 2025 | −0.8% | +1.5% | −12.2% | −1.9% | −4.3% | −11.1% | −0.7% | −8.1% | +2.7% | −2.0% | −1.7% | −9.7% | −39.9% | +17.7% | −57.6pp |
| 2024 | −1.2% | −0.7% | +26.8% | −16.9% | +29.7% | −20.9% | +37.6% | +14.1% | +2.3% | +2.0% | −3.3% | −4.5% | +60.4% | +24.9% | +35.5pp |
| 2023 | +17.5% | −11.1% | −43.5% | +130.8% | −5.9% | +20.4% | +0.0% | +33.2% | −0.9% | −12.9% | +3.8% | +2.0% | +88.2% | +26.2% | +62.0pp |
| 2022 | −6.0% | +12.5% | −12.7% | −13.0% | −43.1% | −25.2% | +58.7% | −13.5% | −47.6% | −32.3% | −3.2% | −48.3% | −91.7% | −18.2% | −73.5pp |
| 2021 | +12.0% | +13.3% | −1.2% | −7.6% | +14.6% | +4.8% | −31.4% | −25.0% | +39.1% | −10.7% | −10.7% | +0.4% | −20.3% | +28.7% | −49.0pp |
| 2020 | +1.2% | +4.2% | −56.5% | +1.2% | −14.5% | +8.0% | −16.8% | +49.5% | −24.8% | −26.9% | +73.7% | +10.4% | −43.8% | +18.3% | −62.2pp |
| 2019 | +6.6% | +12.0% | −6.9% | −1.0% | −4.0% | +0.2% | +8.5% | +18.1% | +0.0% | +2.4% | −18.2% | +8.6% | +23.3% | +31.2% | −7.9pp |
| 2018 | −2.3% | +12.4% | −29.0% | +10.2% | +32.6% | +13.4% | −1.7% | +12.3% | +16.4% | −15.5% | −20.9% | −6.2% | +4.1% | −4.6% | +8.7pp |
| 2017 | −0.5% | −12.5% | +0.2% | −6.0% | −37.0% | +2.1% | −3.6% | −21.7% | +29.0% | −3.6% | −3.6% | +9.8% | −47.5% | +21.7% | −69.3pp |
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. NCMI 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.
