Seasonality
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Seasonality
Sign in to unlock 10Y & 20Y views
Nov is the seasonally strongest month over 5Y.
Nov averages +8.3% with a 50% win rate across 5 years of history.
Sep shows persistent seasonal weakness.
Sep averages -6.6% with only a 14% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +6.5% average return historically.
Q1 historically shows a slow seasonal start.
Q1 (Jan–Mar) averages -2.8% historically, with January alone posting a 33% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 204 of the year, the current YTD return is +14.9% vs the historical average for the same point.
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.53% | 8.70% | -6.25% | 9.92% | 8.60% | 5.58% | 9.81% | -1.23% | -11.35% | 0.19% | ||
| 2025 | -2.28% | -7.96% | 2.07% | 1.82% | -0.83% | 1.10% | -1.57% | 6.60% | -1.54% | 5.59% | -6.85% | 0.68% |
| 2024 | 6.79% | -2.96% | 3.52% | -1.26% | -7.09% | 1.25% | 11.98% | 4.09% | -7.59% | -4.50% | 16.44% | -0.44% |
| 2023 | 6.56% | 1.07% | -4.17% | 1.12% | 12.04% | 0.15% | 6.51% | 5.51% | -8.97% | -0.09% | 11.26% | -5.64% |
| 2022 | -0.26% | 3.95% | -3.86% | -6.42% | 2.60% | 0.59% | 1.24% | -6.07% | -7.39% | 6.44% | -3.34% | -4.86% |
| 2021 | -7.37% | 2.95% | 13.72% | 10.43% | -6.71% | 1.02% | 0.34% | -7.74% | 2.30% | -8.86% | -5.56% | -1.66% |
| 2020 | 4.92% | -36.69% | -3.46% | 10.60% | -10.76% | 6.61% | 12.37% | -11.54% | 1.26% | 37.68% | 1.62% | |
| Avg | 0.15% | 1.52% | -4.52% | 1.74% | 2.74% | -0.15% | 4.99% | 1.93% | -6.58% | -0.03% | 8.27% | -1.71% |
KBL.TO - Average growth of $100 invested at start of year
5 years of data
KBL.TO - Average returns for the respective month in the last 5 years
KBL.TO Distribution of Daily Returns from 2021 to 2026
KBL.TO Distribution of Daily % Changes