With November’s positive return, the index has now advanced by 2.02% for the fourth quarter and 9.56% year-to-date. Over the longer term, the broad index has performed even better with a return of 28.98% over the past three years and 68.43% during the past five, according to a news release.
All three components of the aggregate also turned in positive performances in November. Leading the way was the 0.64% return of the S&P Arbitrage Index, which is now up 1.65% year-to-date. This was followed by a 0.50% November return in the Event-Driven Index and a 0.33% monthly gain recorded by the Directional/Tacitical Index. Year-to-date the two indexes are up 1.96% and 3.19%, respectively.
Even though it was in positive territory, the composite index still lagged the S&P 500’s 0.71% November gain. For the year now, the S&P 500 has returned 20.27%.