Monthly report: April 2026

After a difficult March, April delivered a powerful rebound across global equity markets. Most indices moved sharply higher, confirming how quickly sentiment can shift.

Based on my own tracking, the S&P 500 gained +8.5%, while the Dow Jones rose +5.0% and the MSCI World (IWDA) increased +5.4%. European markets also participated, with the AEX up +2.6% and STOXX Europe 50 rising +1.5%.

This aligns with what we saw in broader markets: April marked one of the strongest months in years, with the S&P 500 even posting its best monthly performance since 2020, driven by strong earnings and easing geopolitical pressure.

Portfolio performance: broad participation

This positive market momentum was clearly visible in my portfolio. The top 3 gainers in April were:

• MPWR: +44%
• TXN: +43%
• CMI: +22%

The common factor here is exposure to high-quality industrials and semiconductor-related names, which benefited from renewed growth optimism and strong earnings expectations.

On the downside, losses were limited and relatively modest:

• BEP: -10%
• MRK: -10%
• BIPC: -6%

Compared to March, downside volatility was clearly lower, which is exactly what you want to see in a recovering market.

Winners vs losers: a strong signal

The overall ratio tells an even more important story:

This is a very healthy distribution. Not only did a large majority of holdings move higher, but gains were roughly twice the size of losses.

Compared to the broader market, this indicates outperformance in stock selection. While indices already posted strong returns, my portfolio showed broad participation and strong upside capture, especially in growth‑sensitive and dividend‑growth names.

This reinforces a key principle I often discuss on my blog. Long-term success in dividend investing comes from owning quality businesses, not timing the market.

Dividend income: steady and growing

While price performance was strong, the real foundation remains income.

In April, total dividend income increased from €361 to €394 (+9.3% YoY at constant FX). After currency effects and taxes, income still grew +6.5% year‑over‑year.

Key drivers behind this growth:

• Continued contributions from USD income (up to $268, +9.4%)
• Strong and growing payouts from holdings such as MPWR (+28%), MPT (+12.5%) PM and AD (both +9%).
• Increased dividend from extra share purchases (mainly ADP, back in january).
• Gradual build‑up of positions added in recent months

This highlights the core strength of the strategy: income keeps compounding regardless of market direction.

Final thoughts

April was a reminder of how quickly markets can recover—and why staying invested matters. Missing just a few strong months like this can have a significant impact on long‑term returns.

Dividend investing is not about avoiding volatility. It’s about getting paid while you ride through it.

“Do not be distracted by short-term noise. Focus on growing your income stream.”

And that is exactly what I intend to keep doing.