This 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.
After a scorching gain in October, the SCP SMB Index continued to rally, climbing another 3.3% in November, outpacing all other major indices we track. The S&P 500, Nasdaq and Dow Jones all experienced gains during the month of 2.1% and 1.9% and 2.5%, respectively.
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 November 30, 2017:
- SCP SMB Index — 149.26%
- S&P 500–130.48%
- Nasdaq — 139.19%
- Dow Jones — 139.60%
During November the SCP SMB Index climbed from $127.44, up to $131.61 at the end of the month. By comparison, during the month of November, other benchmark indices made the following moves:
- the S&P 500 was up 2.1% during the month of November
- the Nasdaq increased 1.9% from the end of October
- the Dow Jones climbed 2.5% since the end of October
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 ~57% of the total market cap of all 35 companies and therefore the movement of these 5 companies influence the SMB Index as a whole.
Square continued it’s run over the past few months leading the list of Top 5 Constituents climbing 5.5% in November. First Data Corp and ADP dropped during November, falling 7.6% and 2.2%.
Here are the top 5 gainers and losers for November:
Groupon led the gainers, up 18.2% in the month of November, while Stamps.com led the list of losers down 25.0% during the month.
Here’s how all 35 companies stacked up in the month of November
21 out of the 35 companies in the SCP SMB Index experienced gains in the month of November.
You can follow the SurePath SMB Index in real time at: http://www.surepathcapital.com/smb-index