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 | -5.71% | -6.73% | -12.09% | 28.34% | -6.72% | -1.37% | -15.48% | -0.82% | 10.17% | -5.65% | ||
| 2025 | -1.14% | -11.85% | -3.28% | 3.73% | 18.63% | 12.67% | -2.20% | 7.00% | 21.96% | 33.52% | -13.92% | 5.00% |
| 2024 | 3.45% | 1.67% | 63.93% | 4.00% | 15.38% | 10.00% | 18.94% | 8.92% | 33.33% | 22.37% | 21.86% | 2.94% |
| 2023 | 5.00% | 6.35% | -11.94% | 0.00% | -5.08% | 1.79% | 5.26% | 16.67% | -2.86% | 1.47% | -5.80% | -10.77% |
| 2022 | 21.95% | 20.00% | -26.67% | 2.27% | -11.11% | -5.00% | -10.53% | 23.53% | -2.38% | -2.44% | 30.00% | 15.38% |
| 2021 | -5.88% | 18.75% | 5.26% | -5.00% | 52.63% | 31.03% | 10.53% | -19.05% | -5.88% | 9.38% | 2.86% | 13.89% |
| 2020 | -25.00% | -16.67% | 160.00% | 7.69% | 0.00% | 0.00% | 14.29% | -50.00% | 0.00% | 37.50% | 54.55% | |
| Avg | 2.94% | 0.45% | -0.21% | 27.62% | 10.20% | 7.02% | 0.93% | 7.22% | 0.62% | 10.72% | 12.08% | 13.50% |
Apr is the seasonally strongest month over 5Y.
Apr averages +27.6% with a 71% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -0.2% with only a 29% win rate across 5 years of history.
Q2 (Apr–May–Jun) is the seasonally strongest quarter.
The three months of Q2 combine for a +44.8% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +3.2% historically, with January alone posting a 50% win rate.
2026 YTD is tracking below the 5Y seasonal average.
At day 205 of the year, the current YTD return is -85.7% vs the historical average for the same point.
ZDC.V - Average growth of $100 invested at start of year
5 years of data
ZDC.V - Average returns for the respective month in the last 5 years
ZDC.V Distribution of Daily Returns from 2021 to 2026
ZDC.V Distribution of Daily % Changes