The takeaway
Credit Suisse X-Links Gold Shares Covered Call ETN shows a slight seasonal lean over 10 years of data — strongest in December (+1.9%) and softest in September (−0.9%).
Right now
In July, the fund has risen 70% of years, averaging +1.3%, roughly 0.9 pts behind the S&P 500.
The full picture
Credit Suisse X-Links Gold Shares Covered Call ETN's most dependable month has been December, higher in 9 of 10 years; September has been its least reliable, up just 30% of the time.
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Month by month
The fund's clearest edge over the S&P 500 lands in January (+2.0 pts); it has trailed the market most in November (−2.8 pts).
“vs S&P” is Credit Suisse X-Links Gold Shares Covered Call ETN’s average for a month minus the S&P 500’s average for that same month — isolating Credit Suisse X-Links Gold Shares Covered Call ETN’s own seasonal edge from broad market drift.
Reality check
Over the last 5 years, December has closed higher 100% of the time versus 90% across the last 10 years — the pattern is holding.
Figures are the typical (median) December return and how often it rose — the last 5 years versus the last 10(the heatmap’s default window). This verdict stays anchored to that 10-year window even if you zoom the chart, so it never disagrees with the badges above.
In plain English
This is a fund you can almost set a calendar by, and December is the anchor — it has closed higher in 9 of 10 Decembers, the steadiest beat on its year.
The strength looks broad-based rather than freakish: its average (+1.9%) and median (+1.9%) sit close together, so no single blow-out year is flattering the figure. No month is steadier: December's returns vary by just 1.6% year to year. Better still, that strength is the fund's own and not just a buoyant market — December has outpaced the S&P 500 by +0.9 points on average. Few peers keep such company in December — the typical stock clears it just 58% of the time.
It doesn't stand entirely alone — January, March, and April have leaned firm as well, if less emphatically. On the other side of the ledger, September has been the soft spot — the only month to average an outright loss (−0.9%), and the edge isn't year-round — the fund has trailed the S&P 500 in November, July, and September.
December has now closed higher 9 years running. Reassuringly, the tendency has held its shape: the recent five years still track the years behind them.
For a fund this dependable in December, the sharper question is the rest of the year — outside its strong stretch, the calendar gives far less to lean on.
Short answers on the fund's best month (December), its worst (September), and whether it really trades seasonally.
Only mildly. The fund's months are fairly even — December is the firmest (+1.9%) and September the softest (−0.9%), a narrow spread that points to weak seasonality rather than a strong calendar effect.
December has been the strongest, averaging +1.9% and closing higher in 9 of 10 years since 2016.
It's the weakest, averaging −0.9% — historically a soft spot, though it still varies from year to year.
Explore
These names have the strongest July track records on record — a starting point for comparison.
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