Performance Update - End of July 2024

Our Quality Index logged a monster month, jumping 13.87% in July. The index has now averaged 59.30% since inception. It also beat comparable smaller cap indices & pummeled the broader market in July.

With another month under our belt, it is time to look at what matters the most for our MS Microcap Quality Index (MSMqi): Performance.

Monster Month

Our index ended the month up 59.30%, on average, since inception in February 2022. This represents a jump of 13.87% in July, compared to June. The comparable indexes did not stand a chance. The SP 500 is now up 33.31% since the inception of the MSMqi and was up just 1.55% for the month of June. The NASDAQ’s July performance was much weaker after a strong June. The index was down 0.96% for the month and remains up 27.62% since the inception of the MSMqi.

Average peak return - 104%, beating microcaps in general

As per previous months, the peak average return continued to climb and is up to 104%. This means that the average stock in the index already doubled at one point in time. This confirms that the index is a great hunting ground for stocks that can truly “beat the market.”

While the microcap and small-cap indices also logged crazy strong returns in July, we were able to keep up the speed and exceed their returns. The MSMqi’s July return of 13.87% beat the iShares Microcap ETF by a hair, as that index ended up 13.31% for the month. The Russell 2000 also had a strong month, but was “only” up 11.05%.

Yet Another Multi-Bagger

We saw California Nanotech (US:CANOF CAN:CNO.V) enter the MSMqi Hall of Fame, or our place where we highlight all of the multibaggers from the index. You can see the CANOF Cliff Note here.

So far, every third stock added to the MSMqi achieved multibager status. You can see all of the multi-baggers here.