Seasonality
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Seasonality
Sign in to unlock 10Y & 20Y views
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.67% | 8.53% | -6.69% | 7.40% | 2.33% | 9.59% | -1.40% | -4.89% | 4.68% | -8.86% | ||
| 2025 | -6.72% | -4.42% | -7.67% | 0.58% | 22.09% | 5.50% | -1.95% | 14.15% | -5.14% | -2.63% | 8.00% | -0.94% |
| 2024 | -5.31% | 3.31% | 3.56% | -7.02% | -6.51% | -1.68% | 3.18% | -0.56% | 10.01% | 7.30% | 18.83% | -11.84% |
| 2023 | 29.04% | -0.40% | -11.11% | -4.51% | 6.68% | 2.16% | 3.36% | 14.77% | -3.20% | -8.67% | -0.74% | 26.02% |
| 2022 | 7.34% | -3.96% | 1.44% | -10.64% | 1.68% | -11.73% | 7.34% | -10.70% | -0.99% | -4.82% | 6.51% | 0.06% |
| 2021 | -4.95% | 8.09% | 16.17% | 7.89% | -10.61% | -2.31% | -17.46% | -3.77% | -2.68% | 6.77% | -1.47% | 18.44% |
| 2020 | -9.85% | -27.70% | 6.06% | -1.71% | 32.79% | 31.83% | 19.01% | -0.43% | -10.29% | 15.90% | 10.21% | |
| Avg | 3.68% | 0.19% | -4.57% | -0.03% | 1.99% | 4.90% | 3.56% | 4.00% | 0.32% | -2.06% | 7.84% | 6.99% |
DBM.TO - Average returns for the respective month in the last 5 years
Nov is the seasonally strongest month over 5Y.
Nov averages +7.8% with a 67% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -4.6% with only a 43% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +12.8% average return historically.
Q1 historically shows a slow seasonal start.
Q1 (Jan–Mar) averages -0.7% historically, with January alone posting a 50% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 204 of the year, the current YTD return is +13.0% vs the historical average for the same point.
DBM.TO - Average growth of $100 invested at start of year
5 years of data
DBM.TO Distribution of Daily Returns from 2021 to 2026
DBM.TO Distribution of Daily % Changes