| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | TWO | SPY | Δ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 · ytd | +9.2% | −9.9% | +10.6% | +1.3% | +6.6% | +0.6% | −2.5% | — | — | — | — | — | +15.2% | +7.5% | +7.7pp |
| 2025 | +7.8% | +11.2% | −5.8% | −11.2% | −10.8% | +1.7% | −9.5% | +2.6% | −1.3% | −1.5% | +4.3% | +3.6% | −11.2% | +17.7% | −29.0pp |
| 2024 | −10.6% | +1.7% | +4.5% | −4.6% | +1.7% | +2.8% | +2.0% | +5.1% | −2.0% | −17.1% | +2.2% | +0.7% | −15.1% | +24.9% | −40.0pp |
| 2023 | +13.8% | −7.6% | −11.2% | −5.3% | −10.7% | +11.6% | −3.4% | +2.7% | −3.8% | −12.3% | +19.4% | +0.5% | −11.7% | +26.2% | −37.8pp |
| 2022 | −0.3% | −12.0% | +8.7% | −12.5% | +11.0% | −6.7% | +8.0% | −9.9% | −31.5% | +7.2% | +15.2% | −3.8% | −31.7% | −18.2% | −13.5pp |
| 2021 | −4.7% | +18.9% | +1.5% | +6.4% | −7.8% | +5.1% | −15.2% | +3.0% | −3.9% | +1.3% | −8.4% | −1.9% | −9.4% | +28.7% | −38.1pp |
| 2020 | +4.4% | −11.2% | −71.9% | +19.9% | −1.1% | +11.5% | +7.7% | +0.4% | −6.6% | −0.6% | +23.3% | +2.1% | −56.4% | +18.3% | −74.8pp |
| 2019 | +13.6% | −4.9% | −2.5% | +2.4% | −11.8% | +3.7% | +6.2% | −6.2% | +4.0% | +5.6% | +4.8% | +0.6% | +13.9% | +31.2% | −17.4pp |
| 2018 | −9.3% | −0.4% | +4.6% | −0.7% | +1.9% | +1.6% | −1.9% | +0.8% | −4.4% | −1.6% | −2.1% | −10.7% | −21.0% | −4.6% | −16.5pp |
| 2017 | +0.6% | +6.0% | +3.1% | +4.2% | −0.1% | −0.7% | −0.2% | +3.4% | −1.5% | −2.8% | −0.3% | +1.6% | +13.8% | +21.7% | −7.9pp |
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. TWO 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.
