Returns use ADJUSTED closes (splits + dividends).
Volume as VALUE TRADED — close × volume, in USD.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | NMFC | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | −6.5% | −11.1% | +5.8% | +10.1% | −6.3% | −7.5% | −3.9% | +9.7% | — | — | — | — | −11.6% | +12.9% | −24.5pp |
| 2025 | +4.1% | −0.6% | −2.4% | −9.9% | +8.4% | +1.1% | −0.3% | +1.3% | −6.6% | +0.3% | +0.0% | −1.5% | −7.0% | +17.7% | −24.7pp |
| 2024 | +1.3% | +0.1% | +1.1% | −0.8% | +0.2% | −0.2% | +1.3% | −0.7% | +0.2% | −4.6% | +4.5% | −3.0% | −0.9% | +24.9% | −25.8pp |
| 2023 | +4.4% | −2.0% | −1.2% | −2.3% | +0.7% | +6.9% | +2.5% | +0.2% | +4.3% | −4.4% | +3.6% | +2.8% | +15.8% | +26.2% | −10.3pp |
| 2022 | −2.9% | +1.5% | +4.9% | −4.0% | −2.8% | −5.5% | +8.6% | +1.5% | −10.1% | +5.4% | +5.1% | −0.6% | −0.5% | −18.2% | +17.6pp |
| 2021 | +0.8% | +8.2% | +0.1% | +6.0% | +1.0% | −0.8% | +1.4% | +0.1% | +1.8% | +5.6% | −4.1% | +3.8% | +26.1% | +28.7% | −2.6pp |
| 2020 | +2.3% | −9.0% | −46.8% | +12.5% | +24.2% | −2.2% | −3.2% | +11.1% | −4.3% | −5.2% | +32.3% | −5.3% | −17.3% | +18.3% | −35.7pp |
| 2019 | +11.6% | −1.4% | −2.0% | +3.6% | −0.7% | +0.1% | −1.4% | −2.0% | +1.0% | −0.4% | −0.6% | +1.8% | +9.2% | +31.2% | −22.0pp |
| 2018 | −1.8% | −4.9% | +4.0% | +2.7% | +3.0% | −2.2% | +4.8% | −3.5% | −1.8% | −1.4% | +2.3% | −7.6% | −7.2% | −4.6% | −2.6pp |
| 2017 | −0.4% | +4.6% | +1.4% | +0.0% | −2.3% | +0.0% | −0.3% | −2.8% | +1.1% | −1.4% | +0.7% | −4.2% | −3.9% | +21.7% | −25.6pp |
Month-end over prior month-end; a blank cell is no return.
Basis. Both columns share one basis, so Δ is like-for-like.
End-of-day closes; a “ytd” or “part” year is not a full year.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Years ⓘ | 15 | 15 | 15 | 15 | 15 | 16 | 16 | 16 | 15 | 15 | 15 | 15 |
| Positive ⓘ | 47% | 60% | 60% | 47% | 60% | 38% | 56% | 75% | 53% | 40% | 73% | 47% |
| Median | −0.4% | +0.2% | +0.4% | +0.0% | +0.5% | −0.5% | +0.1% | +1.8% | +0.2% | −0.4% | +2.3% | −0.6% |
| Best | +11.6% | +8.2% | +6.2% | +12.5% | +24.2% | +7.0% | +8.6% | +11.1% | +4.3% | +5.6% | +32.3% | +4.0% |
| Worst | −9.7% | −11.1% | −46.8% | −9.9% | −6.3% | −7.5% | −3.9% | −3.5% | −10.1% | −5.2% | −4.1% | −7.6% |
| vs SPY ⓘ | −0.3pp | −1.1pp | −1.7pp | −0.5pp | −0.1pp | −2.2pp | −1.5pp | +2.5pp | −1.0pp | −2.6pp | −0.2pp | −0.8pp |
183 monthly observations · 2011–2026 · benchmark SPY
