SMB Index: Local Stocks Climbed in April, Closing With a Strong Rally

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This new monthly feature from SurePath Capital Partners looks at the relative optimism about a range of public companies working with SMB clients. Follow the SurePath SMB Index in real time by clicking here.

In April 2017 the SCP SMB Index climbed 4.9% after a strong rally to close off the month.

The SCP SMB Index climbed 4.9% in April — the most of all other benchmark indices. The Nasdaq was up 2.3%, while the S&P 500 and Dow Jones had modest gains of 1.1% and 1.5% respectively.

Summary of the SCP SMB performance vs other benchmark indices

Returns since inception (indexed at Jan 4, 2016)
Since the inception of the SCP SMB Index in January 4, 2016 (where 100% is no change), here are the returns till March 31, 2017:

  • SCP SMB Index — 121.17%
  • S&P 500–118.69%
  • Nasdaq — 123.37%
  • Dow Jones — 122.35%

Monthly gains
During April the SCP SMB Index climbed to $119.15, up from $113.62 at the end of March 2017.

In comparison, during the month of April, other benchmark indices made the following moves:

  • the S&P 500 was up 1.1% flat during the month of April
  • the Nasdaq climbed 2.3% from the end of March
  • the Dow Jones increased 1.5% since the end of March

Drivers of movement
The SCP SMB Index is weighted based on the market capitalization of the 35 companies that are included in the index. The market cap of the top 5 companies (by market cap) accounts for ~63% of the total market cap of all 35 companies and therefore the movement of these 5 companies influence the SMB Index as a whole.

Last month all 5 of the top 5 constituents experienced stock price gains after March, which saw all 5 companies experience declines. Intuit led the way up 7.9%.

Here are the top 5 gainers and losers for April

GrubHub led the gainers, up 30.7% in the month of April, while topped the list of losers, down 10.3% during the month.

Here’s how all 35 companies stacked up in the month of March
27 out of the 35 companies in the SCP SMB Index experienced gains in the month of April.

SurePath Capital Partners helps startups raise the capital needed to become market leaders. When the time is right, the company help its clients achieve profitable, deliberate exit strategies. SurePath only works with startups in SaaS and commerce. Across those segments it has a deep focus on companies serving the global SMB market. Say hello: [email protected]