Seasonality
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Seasonality
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Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 16.44% | 26.52% | -20.11% | 0.49% | 18.13% | -16.02% | 0.43% | 6.91% | -8.50% | -13.06% | ||
| 2025 | -7.19% | 0.96% | 1.31% | -3.26% | 15.16% | 10.46% | -1.19% | 12.30% | 30.88% | 8.67% | 15.74% | 13.10% |
| 2024 | 1.29% | -2.28% | 30.03% | 14.08% | 0.25% | -2.81% | -8.47% | 0.94% | 1.36% | -4.45% | 2.15% | -9.97% |
| 2023 | 21.18% | -15.69% | 9.36% | 12.75% | -8.31% | 10.43% | 13.58% | -10.34% | -3.34% | -14.51% | 9.60% | 15.32% |
| 2022 | 7.19% | 15.49% | 5.24% | -7.42% | -4.01% | -26.93% | -11.52% | -5.40% | 3.56% | 2.29% | 15.97% | 1.47% |
| 2021 | 0.89% | 27.81% | -10.85% | 14.85% | -13.60% | -12.45% | 1.70% | -10.29% | -9.07% | 18.22% | -6.87% | -0.60% |
| 2020 | -1.30% | -22.11% | 28.92% | -6.47% | 14.83% | 3.02% | 8.93% | -8.62% | 8.34% | 28.94% | 9.32% | |
| Avg | 6.63% | 7.36% | -1.02% | 8.63% | 0.16% | -3.21% | -0.35% | 0.44% | 0.90% | 3.10% | 10.92% | 4.77% |
Nov is the seasonally strongest month over 5Y.
Nov averages +10.9% with a 83% win rate across 5 years of history.
Jun shows persistent seasonal weakness.
Jun averages -3.2% 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 +18.8% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +13.0% historically, with January alone posting a 83% win rate.
2026 YTD is tracking below the 5Y seasonal average.
At day 204 of the year, the current YTD return is -11.1% vs the historical average for the same point.
LUN.TO - Average returns for the respective month in the last 5 years
LUN.TO - Average growth of $100 invested at start of year
5 years of data
LUN.TO Distribution of Daily Returns from 2021 to 2026
LUN.TO Distribution of Daily % Changes