{"slug":"warren-buffett-index-put-trade","qid":"index_paths","label":"index_paths","post_title":"warren-buffett-index-put-trade","post_url":"/blog/warren-buffett-index-put-trade#q-index_paths","columns":["year","sp500_fund_rebased","euro_stoxx_fund_rebased"],"rows":[{"year":2005,"sp500_fund_rebased":100,"euro_stoxx_fund_rebased":100},{"year":2006,"sp500_fund_rebased":113.7,"euro_stoxx_fund_rebased":128.1},{"year":2007,"sp500_fund_rebased":117.4,"euro_stoxx_fund_rebased":147.9},{"year":2008,"sp500_fund_rebased":72.5,"euro_stoxx_fund_rebased":81.1},{"year":2009,"sp500_fund_rebased":89.5,"euro_stoxx_fund_rebased":97.9},{"year":2010,"sp500_fund_rebased":101,"euro_stoxx_fund_rebased":86.9},{"year":2011,"sp500_fund_rebased":100.8,"euro_stoxx_fund_rebased":69.6},{"year":2012,"sp500_fund_rebased":114.4,"euro_stoxx_fund_rebased":81.8},{"year":2013,"sp500_fund_rebased":148.3,"euro_stoxx_fund_rebased":99.6},{"year":2014,"sp500_fund_rebased":165.1,"euro_stoxx_fund_rebased":87},{"year":2015,"sp500_fund_rebased":163.7,"euro_stoxx_fund_rebased":81.2},{"year":2016,"sp500_fund_rebased":179.5,"euro_stoxx_fund_rebased":79},{"year":2017,"sp500_fund_rebased":214.3,"euro_stoxx_fund_rebased":96.1},{"year":2018,"sp500_fund_rebased":200.7,"euro_stoxx_fund_rebased":78.5},{"year":2019,"sp500_fund_rebased":258.5,"euro_stoxx_fund_rebased":96.2},{"year":2020,"sp500_fund_rebased":300.3,"euro_stoxx_fund_rebased":98.4},{"year":2021,"sp500_fund_rebased":381.5,"euro_stoxx_fund_rebased":110.1},{"year":2022,"sp500_fund_rebased":307.1,"euro_stoxx_fund_rebased":91.3},{"year":2023,"sp500_fund_rebased":381.7,"euro_stoxx_fund_rebased":112.8},{"year":2024,"sp500_fund_rebased":470.7,"euro_stoxx_fund_rebased":113.6},{"year":2025,"sp500_fund_rebased":547.7,"euro_stoxx_fund_rebased":151.9},{"year":2026,"sp500_fund_rebased":614.1,"euro_stoxx_fund_rebased":161}],"shape":"ranking","sql":"WITH yearly AS\n(\n    SELECT\n        ticker,\n        toYear(date)                   AS calendar_year,\n        argMax(toFloat64(close), date) AS year_close\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker IN ('SPY', 'FEZ')\n      AND date >= '2005-01-01'\n    GROUP BY ticker, calendar_year\n),\nbase AS\n(\n    SELECT\n        ticker,\n        argMin(year_close, calendar_year) AS first_close\n    FROM yearly\n    GROUP BY ticker\n)\nSELECT\n    y.calendar_year                                                       AS year,\n    round(maxIf(100 * y.year_close / b.first_close, y.ticker = 'SPY'), 1) AS sp500_fund_rebased,\n    round(maxIf(100 * y.year_close / b.first_close, y.ticker = 'FEZ'), 1) AS euro_stoxx_fund_rebased\nFROM yearly AS y\nINNER JOIN base AS b ON b.ticker = y.ticker\nGROUP BY year\nORDER BY year","computed_at":"2026-09-30T15:12:45.584628+00:00","elapsed":0.003694333}