April Monthly Performance Update
MSMqi Indices Post Double-Digit Gains Amid Strong Market Momentum
For the most up-to-date performance, visit the full index dashboard here. To see all of our return updates, go here.
MSMqi Platform Monthly Performance Summary
April saw strong performance across MSMqi indices, with the MSMqi 2025 gaining 11.26% and the MSMqi 2022 advancing 11.38%, alongside a broadly strong market as major benchmarks also posted double digit gains: the SPY up 10.51%, the NASDAQ up 15.29%, and the IWC up 12.22%. Market participation was broad, with 76% of stocks of the MSMqi 2025 posting positive returns.
Our Microcap Quality Index Platform (MSMqi) is based on a passive strategy built to give smaller cap investors a fertile mulitbagger hunting ground. At the end of April, the platform tracked 140 unique stocks across its indices and so far, has identified 69 mutlibaggers (49% hit-rate).
Spotlight Index:
The MSMqi Spotlight Index currently comprises 14 high-conviction names selected from across the platform. We believe this set offer at least 50% near-term upside, along with the potential to become long-term multibaggers. The Spotlight Index was launched in April 2024.
At the end of April, the average return across the group was 73.92%, with an average peak return of 125.60%.
The MSMqi 2022:
The MSMqi 2022, our inaugural index launched in February 2022, advanced 11.38% for the month, bringing cumulative returns since inception to 133.08%, with a CAGR of 22%. The index continues to reflect stable long-term compounding despite periodic volatility. The index holds 110 stocks and follows a passive strategy.
The MSMqi 2025:
The MSMqi 2025 gained 11.26% for the month (actual average return using the prior month’s ending price as the starting price), with cumulative returns since inception at 45.66%.
The MSMqi 2025 was the result of a rebalancing of the MSMqi 2022 we did in April 2025, by removing 23 stocks. These removed stocks are up 59.88% since we removed them. You can still track them here.
The MSMqi 2025 currently holds 110 stocks, with three new additions during the month. The corresponding Cliff Notes, where we outline the investment thesis, upside potential and risks for each addition, are available below:
Aerospace Supplier - Cliff Note #138 (Defense Tailwinds)
Barber and Beauty Products - Cliff Note #139 (Special Situation - Emerging from Bankruptcy)
Protective Gears - Cliff Note #140 (Category Rebound - Taking Market Share)
The strongest monthly performers in the MSMqi 2025 were:
TGEN (cogeneration equipment manufacturer) +86.72%
QUIK (semiconductor chip designer) +70.26%
TZOO (internet media company) +65.37%
See Full Performance Report Below…