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.
The SCP SMB Index closed 2017 gaining a modest 1.2%, outpaced by other major indices we track.
The SCP SMB Index gained 1.2% in December. The S&P 500, Nasdaq and Dow Jones all experienced gains during the month of 2.3%, 1.8% and 3.7%, 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 December 31, 2017:
- SCP SMB Index — 151.01%
- S&P 500–133.53%
- Nasdaq — 141.75%
- Dow Jones — 144.83%
During December the SCP SMB Index climbed from $131.75, up to $133.30 at the end of the month.
In comparison, during the month of December, other benchmark indices made the following moves:
- the S&P 500 was up 2.3% during the month of December
- the Nasdaq increased 1.8% from the end of November
- the Dow Jones climbed 3.7% since the end of November
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.
After a strong run over the past few months, Square declined 11.2% as the lone loser in the Top 5 Constituents. ADP led the way up 3.4% in December. Here are the top 5 gainers and losers for December:
LendingTree led the gainers, up 12.8% in the month of December, while Square led the list of losers down 11.6% during the month.
Here’s how all 35 companies stacked up in the month of December