SMB Index: Local Stocks See Solid Gains in April

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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.

April marked another volatile month in the public markets. But it was a relatively strong month for local stocks, as the SurePath SMB Index was up 2.8% in April, topping all major indices.

The SCP SMB Index jumped 2.8% in April. The S&P 500, Nasdaq, and Dow Jones all experienced gains during the month of 2.5%, 2.5% and 1.9%, 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 through April 30, 2018:

  • SCP SMB Index — 149.01%
  • S&P 500–132.66%
  • Nasdaq — 145.21%
  • Dow Jones — 141.76%

Monthly gains

During April, the SCP SMB Index climbed to $131.76 from $128.20 at the end of March.

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

  • the S&P 500 was up 2.5% during the month of April
  • the Nasdaq climbed 2.5% from the end of March
  • the Dow Jones improved 1.9% 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 ~57% of the total market cap of all 35 companies, and therefore the movement of these 5 companies influences the SMB Index as a whole.

First Data Corp. led the way, up 14.3% during the month of April, while Square fell 3.8%.

Here are the top 5 gainers and losers for April:

AppFolio led the gainers, up 17.4% in the month of April, while LendingTree and Lending Club led the list of losers down 27.9% and 23.1%, respectively, during the month.

Here’s how all 35 companies stacked up in the month of April

22 out of the 35 companies in the SCP SMB Index experienced gains in the month of April.