| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | SBS | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | +12.6% | +11.7% | +1.7% | +10.2% | −15.8% | +2.1% | −9.0% | — | — | — | — | — | +10.3% | +7.5% | +2.7pp |
| 2025 | +12.9% | −0.4% | +10.9% | +13.8% | +1.0% | +7.0% | −12.2% | +17.5% | +9.9% | −1.4% | +7.5% | −9.6% | +66.4% | +17.7% | +48.7pp |
| 2024 | +4.6% | −0.8% | +6.5% | −7.1% | −9.5% | −4.9% | +16.2% | +7.4% | −1.5% | −3.9% | −4.0% | −6.1% | −5.9% | +24.9% | −30.8pp |
| 2023 | +3.3% | −9.6% | +0.6% | −7.6% | +12.6% | +13.6% | +3.1% | −5.0% | +4.5% | −4.8% | +18.9% | +11.0% | +42.9% | +26.2% | +16.7pp |
| 2022 | — | — | — | — | — | +8.9% | +7.3% | +9.2% | −2.7% | +26.9% | −0.1% | −7.7% | +45.2% | −18.2% | +63.4pp |
| 2021 | −13.3% | −11.4% | +11.1% | +7.2% | −2.2% | −3.8% | −8.2% | +1.9% | +2.3% | −11.3% | −4.1% | +21.9% | −14.6% | +28.7% | −43.3pp |
| 2020 | −5.9% | −8.0% | −43.4% | +3.8% | +30.9% | +4.8% | +10.0% | −24.7% | −4.6% | −11.1% | +12.5% | +3.5% | −42.9% | +18.3% | −61.3pp |
| 2019 | +46.8% | −12.2% | +1.7% | +13.0% | −6.1% | +8.4% | +14.3% | −11.0% | −4.0% | +14.0% | −1.2% | +12.5% | +86.5% | +31.2% | +55.3pp |
| 2018 | +8.5% | +1.6% | −8.1% | −5.8% | −31.2% | −12.5% | +11.5% | −10.3% | −1.8% | +25.8% | −2.6% | +11.6% | −22.8% | −4.6% | −18.2pp |
| 2017 | +14.7% | +6.3% | −1.7% | −11.6% | −2.9% | +6.6% | +13.0% | −5.3% | +2.6% | −12.8% | +9.3% | +4.8% | +20.4% | +21.7% | −1.3pp |
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. SBS 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.
