MSCI (MSCI) seasonality heatmap
Returns across monthly, quarterly, and yearly periods. Cell color encodes signed magnitude; the scale auto-fits each table.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.2% | -5.8% | -5.7% | +9.7% | +6.8% | -5.1% | — | — | — | — | — | — |
| 2025 | -0.5% | -0.7% | -4.2% | -3.6% | +3.8% | +2.3% | -2.7% | +1.5% | -0.1% | +3.7% | -3.9% | +1.8% |
| 2024 | +5.8% | -6.0% | -0.1% | -16.9% | +6.7% | -2.7% | +12.3% | +7.7% | +0.4% | -2.0% | +7.0% | -1.6% |
| 2023 | +14.3% | -1.5% | +7.2% | -13.8% | -2.2% | -0.3% | +16.8% | -0.6% | -5.6% | -8.1% | +10.8% | +8.6% |
| 2022 | -12.5% | -6.2% | +0.2% | -16.2% | +5.3% | -6.8% | +16.8% | -6.4% | -6.1% | +11.2% | +8.6% | -8.4% |
| 2021 | -11.5% | +5.0% | +1.2% | +15.9% | -3.5% | +13.9% | +11.8% | +6.7% | -4.1% | +9.3% | -5.2% | -2.7% |
| 2020 | +10.7% | +3.6% | -2.2% | +13.2% | +0.8% | +1.5% | +12.6% | -0.5% | -4.4% | -1.9% | +17.3% | +9.1% |
| 2019 | +15.5% | +8.8% | +7.6% | +13.3% | -2.1% | +8.5% | -4.8% | +3.6% | -7.2% | +7.7% | +10.8% | -0.4% |
| 2018 | +10.0% | +1.9% | +5.6% | +0.2% | +8.8% | +1.8% | +0.5% | +8.8% | -1.6% | -15.2% | +4.9% | -6.1% |
| 2017 | +5.0% | +14.7% | +2.7% | +3.2% | +1.7% | +1.2% | +5.8% | +5.6% | +2.0% | +0.4% | +10.0% | -1.7% |
| 2016 | -4.6% | +2.8% | +5.0% | +2.5% | +5.4% | -3.3% | +11.6% | +5.1% | -6.9% | -4.5% | -1.4% | -0.0% |
| 2015 | +13.5% | +4.6% | +9.3% | -0.2% | +1.7% | -0.8% | +10.7% | -10.9% | -1.7% | +12.7% | +5.0% | +2.9% |
| 2014 | -2.3% | +2.3% | -1.6% | -5.8% | +6.5% | +6.2% | -1.3% | +2.0% | +1.9% | -0.4% | +3.6% | -1.9% |
| 2013 | +8.9% | -1.8% | +2.4% | +0.5% | +3.3% | -5.6% | +5.3% | +7.0% | +7.3% | +1.3% | +8.9% | -1.5% |
| 2012 | -1.1% | +8.6% | +4.1% | -0.6% | -7.6% | +0.6% | -2.6% | +5.8% | +2.0% | -24.7% | +7.6% | +6.8% |
| 2011 | -12.2% | +3.7% | +3.7% | -3.7% | +6.5% | -0.2% | -5.8% | -2.6% | -12.3% | +10.1% | +1.1% | -2.4% |
| 2010 | -7.1% | +1.4% | +20.4% | -4.0% | -14.4% | -7.6% | +17.8% | -7.3% | +11.0% | +8.0% | -5.0% | +14.4% |
| 2009 | -2.2% | -9.2% | +7.4% | +24.1% | +1.4% | +14.9% | +14.3% | +5.3% | +0.7% | +2.7% | +0.2% | +4.4% |
| 2008 | -14.1% | -9.8% | +0.0% | +4.3% | +14.6% | +2.1% | -18.0% | +0.3% | -19.6% | -28.2% | -10.5% | +15.1% |
| 2007 | — | — | — | — | — | — | — | — | — | — | — | +38.9% |
| Avg | +1.2% | +0.9% | +3.3% | +1.2% | +2.3% | +1.4% | +5.6% | +1.7% | -2.5% | -1.0% | +3.9% | +4.0% |
| Median | -0.5% | +1.9% | +2.7% | +0.2% | +3.3% | +0.9% | +8.3% | +2.8% | -1.7% | +0.8% | +4.9% | -0.0% |
| Last 5Y Avg | +2.6% | -4.1% | -0.5% | -8.2% | +4.1% | +1.3% | +11.0% | +1.8% | -3.1% | +2.8% | +3.5% | -0.5% |
| Std Dev (σ) | 9.7% | 6.4% | 5.9% | 10.8% | 6.4% | 6.2% | 9.9% | 5.6% | 7.0% | 11.7% | 7.1% | 10.6% |
| Consistency (μ/σ) | 0.12 | 0.13 | 0.57 | 0.11 | 0.35 | 0.23 | 0.57 | 0.31 | -0.35 | -0.09 | 0.54 | 0.37 |
| Win Rate (%) | 47% | 58% | 74% | 53% | 74% | 56% | 67% | 67% | 39% | 56% | 72% | 47% |
| Winning / Losing Months | ▲9▼10 | ▲11▼8 | ▲14▼5 | ▲10▼9 | ▲14▼5 | ▲10▼8 | ▲12▼6 | ▲12▼6 | ▲7▼11 | ▲10▼8 | ▲13▼5 | ▲9▼10 |
| Longest Win / Loss Streak | ▲4▼5 | ▲8▼5 | ▲6▼3 | ▲6▼4 | ▲6▼1 | ▲5▼3 | ▲5▼2 | ▲4▼2 | ▲3▼6 | ▲3▼2 | ▲5▼1 | ▲4▼4 |
| Best | +15.5%in January 2019 | +14.7%in February 2017 | +20.4%in March 2010 | +24.1%in April 2009 | +14.6%in May 2008 | +14.9%in June 2009 | +17.8%in July 2010 | +8.8%in August 2018 | +11.0%in September 2010 | +12.7%in October 2015 | +17.3%in November 2020 | +38.9%in December 2007 |
| Worst | -14.1%in January 2008 | -9.8%in February 2008 | -5.7%in March 2026 | -16.9%in April 2024 | -14.4%in May 2010 | -7.6%in June 2010 | -18.0%in July 2008 | -10.9%in August 2015 | -19.6%in September 2008 | -28.2%in October 2008 | -10.5%in November 2008 | -8.4%in December 2022 |
−28.2%+38.9%
2026
Jan+6.2%
Feb-5.8%
Mar-5.7%
Apr+9.7%
May+6.8%
Jun-5.1%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan-0.5%
Feb-0.7%
Mar-4.2%
Apr-3.6%
May+3.8%
Jun+2.3%
Jul-2.7%
Aug+1.5%
Sep-0.1%
Oct+3.7%
Nov-3.9%
Dec+1.8%
2024
Jan+5.8%
Feb-6.0%
Mar-0.1%
Apr-16.9%
May+6.7%
Jun-2.7%
Jul+12.3%
Aug+7.7%
Sep+0.4%
Oct-2.0%
Nov+7.0%
Dec-1.6%
2023
Jan+14.3%
Feb-1.5%
Mar+7.2%
Apr-13.8%
May-2.2%
Jun-0.3%
Jul+16.8%
Aug-0.6%
Sep-5.6%
Oct-8.1%
Nov+10.8%
Dec+8.6%
2022
Jan-12.5%
Feb-6.2%
Mar+0.2%
Apr-16.2%
May+5.3%
Jun-6.8%
Jul+16.8%
Aug-6.4%
Sep-6.1%
Oct+11.2%
Nov+8.6%
Dec-8.4%
2021
Jan-11.5%
Feb+5.0%
Mar+1.2%
Apr+15.9%
May-3.5%
Jun+13.9%
Jul+11.8%
Aug+6.7%
Sep-4.1%
Oct+9.3%
Nov-5.2%
Dec-2.7%
2020
Jan+10.7%
Feb+3.6%
Mar-2.2%
Apr+13.2%
May+0.8%
Jun+1.5%
Jul+12.6%
Aug-0.5%
Sep-4.4%
Oct-1.9%
Nov+17.3%
Dec+9.1%
2019
Jan+15.5%
Feb+8.8%
Mar+7.6%
Apr+13.3%
May-2.1%
Jun+8.5%
Jul-4.8%
Aug+3.6%
Sep-7.2%
Oct+7.7%
Nov+10.8%
Dec-0.4%
2018
Jan+10.0%
Feb+1.9%
Mar+5.6%
Apr+0.2%
May+8.8%
Jun+1.8%
Jul+0.5%
Aug+8.8%
Sep-1.6%
Oct-15.2%
Nov+4.9%
Dec-6.1%
2017
Jan+5.0%
Feb+14.7%
Mar+2.7%
Apr+3.2%
May+1.7%
Jun+1.2%
Jul+5.8%
Aug+5.6%
Sep+2.0%
Oct+0.4%
Nov+10.0%
Dec-1.7%
2016
Jan-4.6%
Feb+2.8%
Mar+5.0%
Apr+2.5%
May+5.4%
Jun-3.3%
Jul+11.6%
Aug+5.1%
Sep-6.9%
Oct-4.5%
Nov-1.4%
Dec-0.0%
2015
Jan+13.5%
Feb+4.6%
Mar+9.3%
Apr-0.2%
May+1.7%
Jun-0.8%
Jul+10.7%
Aug-10.9%
Sep-1.7%
Oct+12.7%
Nov+5.0%
Dec+2.9%
2014
Jan-2.3%
Feb+2.3%
Mar-1.6%
Apr-5.8%
May+6.5%
Jun+6.2%
Jul-1.3%
Aug+2.0%
Sep+1.9%
Oct-0.4%
Nov+3.6%
Dec-1.9%
2013
Jan+8.9%
Feb-1.8%
Mar+2.4%
Apr+0.5%
May+3.3%
Jun-5.6%
Jul+5.3%
Aug+7.0%
Sep+7.3%
Oct+1.3%
Nov+8.9%
Dec-1.5%
2012
Jan-1.1%
Feb+8.6%
Mar+4.1%
Apr-0.6%
May-7.6%
Jun+0.6%
Jul-2.6%
Aug+5.8%
Sep+2.0%
Oct-24.7%
Nov+7.6%
Dec+6.8%
2011
Jan-12.2%
Feb+3.7%
Mar+3.7%
Apr-3.7%
May+6.5%
Jun-0.2%
Jul-5.8%
Aug-2.6%
Sep-12.3%
Oct+10.1%
Nov+1.1%
Dec-2.4%
2010
Jan-7.1%
Feb+1.4%
Mar+20.4%
Apr-4.0%
May-14.4%
Jun-7.6%
Jul+17.8%
Aug-7.3%
Sep+11.0%
Oct+8.0%
Nov-5.0%
Dec+14.4%
2009
Jan-2.2%
Feb-9.2%
Mar+7.4%
Apr+24.1%
May+1.4%
Jun+14.9%
Jul+14.3%
Aug+5.3%
Sep+0.7%
Oct+2.7%
Nov+0.2%
Dec+4.4%
2008
Jan-14.1%
Feb-9.8%
Mar+0.0%
Apr+4.3%
May+14.6%
Jun+2.1%
Jul-18.0%
Aug+0.3%
Sep-19.6%
Oct-28.2%
Nov-10.5%
Dec+15.1%
2007
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul—
Aug—
Sep—
Oct—
Nov—
Dec+38.9%
Avg
Jan+1.2%
Feb+0.9%
Mar+3.3%
Apr+1.2%
May+2.3%
Jun+1.4%
Jul+5.6%
Aug+1.7%
Sep-2.5%
Oct-1.0%
Nov+3.9%
Dec+4.0%
Median
Jan-0.5%
Feb+1.9%
Mar+2.7%
Apr+0.2%
May+3.3%
Jun+0.9%
Jul+8.3%
Aug+2.8%
Sep-1.7%
Oct+0.8%
Nov+4.9%
Dec-0.0%
Last 5Y Avg
Jan+2.6%
Feb-4.1%
Mar-0.5%
Apr-8.2%
May+4.1%
Jun+1.3%
Jul+11.0%
Aug+1.8%
Sep-3.1%
Oct+2.8%
Nov+3.5%
Dec-0.5%
Std Dev (σ)
Jan9.7%
Feb6.4%
Mar5.9%
Apr10.8%
May6.4%
Jun6.2%
Jul9.9%
Aug5.6%
Sep7.0%
Oct11.7%
Nov7.1%
Dec10.6%
Consistency (μ/σ)
Jan0.12
Feb0.13
Mar0.57
Apr0.11
May0.35
Jun0.23
Jul0.57
Aug0.31
Sep-0.35
Oct-0.09
Nov0.54
Dec0.37
Win Rate (%)
Jan47%
Feb58%
Mar74%
Apr53%
May74%
Jun56%
Jul67%
Aug67%
Sep39%
Oct56%
Nov72%
Dec47%
Winning / Losing Months
Jan▲9▼10
Feb▲11▼8
Mar▲14▼5
Apr▲10▼9
May▲14▼5
Jun▲10▼8
Jul▲12▼6
Aug▲12▼6
Sep▲7▼11
Oct▲10▼8
Nov▲13▼5
Dec▲9▼10
Longest Win / Loss Streak
Jan▲4▼5
Feb▲8▼5
Mar▲6▼3
Apr▲6▼4
May▲6▼1
Jun▲5▼3
Jul▲5▼2
Aug▲4▼2
Sep▲3▼6
Oct▲3▼2
Nov▲5▼1
Dec▲4▼4
Best
Jan+15.5%2019
Feb+14.7%2017
Mar+20.4%2010
Apr+24.1%2009
May+14.6%2008
Jun+14.9%2009
Jul+17.8%2010
Aug+8.8%2018
Sep+11.0%2010
Oct+12.7%2015
Nov+17.3%2020
Dec+38.9%2007
Worst
Jan-14.1%2008
Feb-9.8%2008
Mar-5.7%2026
Apr-16.9%2024
May-14.4%2010
Jun-7.6%2010
Jul-18.0%2008
Aug-10.9%2015
Sep-19.6%2008
Oct-28.2%2008
Nov-10.5%2008
Dec-8.4%2022
−28.2%+38.9%
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