SMIF vs. S&P 500: Indexed Performance
Starting value = 100 on January 1, 2025
Growth of $100
SMIF performance since the start of 2025
Both the SMIF and the S&P 500 begin at an indexed value of 100 on January 1, 2025. Each subsequent value compounds the quarterly return reported in the SMIF's quarterly statements. This makes the chart directly comparable through time without regard to portfolio dollar size.
SMIF Indexed Value
145.53
At June 30, 2026, versus 128.73 for the S&P 500.
SMIF Cumulative Return
+45.53%
Jan. 1, 2025–Jun. 30, 2026
S&P 500 Cumulative Return
+28.73%
Same six-quarter period
Cumulative Advantage
+16.80 pp
SMIF minus S&P 500
Quarters Outperforming
5 of 6
Only Q2 2025 lagged
Quarter-by-Quarter Performance
Reported quarterly returns and compounded indexed values
| Period | SMIF Return | S&P 500 Return | SMIF Index | S&P Index |
|---|---|---|---|---|
| Start of 2025 | — | — | 100.00 | 100.00 |
| Q1 2025 | +0.85% | −4.27% | 100.85 | 95.73 |
| Q2 2025 | +6.34% | +10.94% | 107.24 | 106.20 |
| Q3 2025 | +9.28% | +7.79% | 117.20 | 114.48 |
| Q4 2025 | +7.16% | +2.65% | 125.59 | 117.51 |
| Q1 2026 | −2.08% | −4.63% | 122.98 | 112.07 |
| Q2 2026 | +18.34% | +14.87% | 145.53 | 128.73 |