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 | -5.84% | 3.39% | -0.12% | 11.40% | 10.88% | 13.25% | 2.84% | -4.12% | 1.62% | 0.02% | ||
| 2025 | -1.43% | 14.36% | 6.12% | -4.91% | -2.84% | 0.60% | 0.46% | 5.73% | 3.82% | 5.28% | 8.96% | 5.49% |
| 2024 | 2.33% | -5.63% | 3.64% | -6.02% | 1.77% | -2.37% | 3.91% | 8.18% | 4.11% | 1.30% | 7.90% | -4.38% |
| 2023 | 12.75% | 5.50% | -2.43% | 7.54% | 1.09% | 0.10% | 3.38% | -1.05% | 0.08% | -1.13% | 14.25% | 1.13% |
| 2022 | 4.61% | -3.98% | -2.10% | -3.80% | -2.06% | -8.15% | -0.99% | 0.70% | -3.34% | 5.77% | 1.71% | -0.92% |
| 2021 | -3.79% | 11.54% | 4.04% | 6.58% | 4.97% | -0.41% | 1.96% | 3.97% | -0.13% | -5.53% | 1.84% | 3.75% |
| 2020 | -7.93% | -21.91% | -5.72% | -2.18% | 8.27% | -0.50% | 12.37% | -0.58% | 4.34% | 11.27% | 1.93% | |
| Avg | 1.44% | 2.46% | -1.82% | 0.72% | 1.66% | 1.61% | 1.58% | 3.68% | 0.80% | 1.67% | 7.66% | 1.17% |
GWO.TO - Average returns for the respective month in the last 5 years
Nov is the seasonally strongest month over 5Y.
Nov averages +7.7% with a 100% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -1.8% 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 +10.5% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +2.1% 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 +26.9% vs the historical average for the same point.
GWO.TO - Average growth of $100 invested at start of year
5 years of data
GWO.TO Distribution of Daily Returns from 2021 to 2026
GWO.TO Distribution of Daily % Changes