Seasonality
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Nov is the seasonally strongest month over 5Y.
Nov averages +6.7% with a 67% win rate across 5 years of history.
Dec shows persistent seasonal weakness.
Dec averages -2.0% with only a 33% win rate across 5 years of history.
Q2 (Apr–May–Jun) is the seasonally strongest quarter.
The three months of Q2 combine for a +10.0% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +2.6% historically, with January alone posting a 50% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 155 of the year, the current YTD return is +26.6% vs the historical average for the same point.
ETN - Average growth of $100 invested at start of year
5 years of data
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.33% | 6.97% | -4.56% | 21.06% | -7.23% | 6.37% | -2.56% | 9.01% | ||||
| 2025 | -1.64% | -10.15% | -6.99% | 8.29% | 9.15% | 11.49% | 7.77% | -8.98% | 7.19% | 1.95% | -9.10% | -7.92% |
| 2024 | 2.18% | 17.44% | 8.53% | 1.78% | 4.90% | -5.80% | -2.79% | 1.04% | 7.99% | 0.04% | 13.54% | -11.60% |
| 2023 | 3.35% | 7.84% | -1.57% | -2.46% | 5.79% | 14.33% | 2.10% | 12.65% | -7.42% | -2.52% | 9.95% | 5.77% |
| 2022 | -8.33% | -2.61% | -1.10% | -4.44% | -3.87% | -9.10% | 17.78% | -7.42% | -2.40% | 12.53% | 9.48% | -3.98% |
| 2021 | -2.03% | 10.61% | 6.79% | 3.36% | 2.16% | 2.02% | 6.66% | 7.01% | -11.31% | 10.35% | -1.21% | 6.64% |
| 2020 | -3.97% | -13.62% | 7.48% | 1.77% | 3.04% | 6.46% | 10.42% | -0.07% | 1.73% | 17.50% | -0.80% | |
| Avg | 0.65% | 3.73% | -1.79% | 5.01% | 1.81% | 3.19% | 5.06% | 2.45% | -1.00% | 4.01% | 6.69% | -1.98% |
ETN - Average returns for the respective month in the last 5 years
ETN Distribution of Daily Returns from 2021 to 2026
ETN Distribution of Daily % Changes