March 2017 — Movements in the SMB Index

A recap of SMB Index performance for March 2017

The SurePath SMB Index
In March 2017 the SCP SMB Index declined 2% after a strong February.
Summary of the SCP SMB performance vs other benchmark indices

The SCP SMB Index gave back 2% while the Nasdaq climbed 1.5%. Both the S&P 500 and Dow Jones were flat in March.

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 — 115.67%
  • S&P 500–117.39%
  • Nasdaq — 120.57%
  • Dow Jones — 120.49%

Monthly gains

During February the SCP SMB Index retreated to $112.17, down from $114.45 at the end of February 2017.

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

  • the S&P 500 was flat during the month of March
  • the Nasdaq climbed 1.5% from the end of February
  • the Dow Jones declined 0.7% in 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 declines after February which saw all 5 companies experience gains. Intuit gave back 7.5% — the most amongst the top 5 constituents.

Here are the top 5 gainers and losers for March

Shopify led the gainers, up 15.0% in the month of March, while Endurance topped the list of losers, down 7.7% during the month.

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

21 out of the 35 companies in the SCP SMB Index experienced gains in the month of February.

You can follow the SurePath SMB Index in real time at: http://www.surepathcapital.com/smb-index

At SurePath Capital Partners we help startups raise the capital needed to become market leaders. When the time is right, we help our clients achieve profitable, deliberate exit strategies. We only work with startups in SaaS, and commerce. Across those segments we have a deep focus on companies serving the global SMB market. Say hello: info@surepathcapital.com