EMC Capital Advisors LLC

EMC Classic Program *QEP*

Monthly Performance (%)

Date Range: 12/89 - 01/23
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2023 -1.22 1.41   0.17 
2022 7.81 4.71 9.02 3.29 -1.66 1.48 -6.59 2.53 11.48 -0.26 -9.61 0.11  22.24 
2021 -0.34 11.38 -2.00 4.32 2.57 -3.70 -0.58 -0.65 9.14 6.80 -2.52 -1.51  23.90 
2020 -2.39 4.59 14.66 -0.89 0.21 -1.62 2.31 0.70 -5.69 1.22 -0.65 11.20  24.27 
2019 -5.82 -0.27 3.74 1.37 6.21 -1.79 1.71 10.06 -6.81 -2.91 1.57 3.27  9.46 
2018 12.49 -5.78 -1.64 0.08 -2.72 -1.18 -0.74 1.81 -0.98 -4.43 0.88 1.60  -1.69 
2017 -0.83 4.69 -6.41 0.38 2.00 -4.53 0.87 1.15 -6.67 6.24 -0.45 3.04  -1.44 
2016 8.59 5.02 -6.95 -6.75 -2.33 2.15 1.84 -5.42 -1.35 -4.88 -2.55 -0.90  -13.83 
2015 3.40 -1.54 0.53 0.09 0.71 -4.58 4.66 -2.65 3.90 -3.62 3.09 -3.25  0.18 
2014 -3.05 -2.15 -3.25 0.41 0.73 1.60 7.32 4.68 7.67 0.66 5.47 2.90  24.63 
2013 5.75 -3.57 2.72 2.25 -5.53 -1.46 -3.96 -2.22 -4.30 2.62 3.90 -3.01  -7.34 
2012 0.94 6.30 -3.39 0.59 19.09 -6.37 0.31 -2.74 -1.23 -5.39 -1.02 1.15  6.12 
2011 0.67 3.12 -4.22 6.05 -9.83 -5.25 6.82 -2.04 3.40 -9.04 2.13 -1.45  -10.76 
2010 -11.01 -1.08 6.02 0.48 -3.64 -1.69 -0.61 0.76 6.25 6.84 -0.20 5.74  6.57 
2009 -1.95 0.41 -6.65 -2.66 0.50 -6.01 -1.25 2.54 0.34 -1.91 3.88 -1.99  -14.25 
2008 3.50 14.90 -1.40 0.16 1.72 5.35 -6.05 1.20 5.80 11.89 2.79 0.45  46.26 
2007 3.77 -5.22 -3.25 4.24 3.63 4.74 -7.35 -1.06 10.38 6.62 -0.33 1.30  17.27 
2006 4.59 -5.85 7.57 16.06 1.23 -2.39 -4.15 1.31 -2.03 0.71 1.35 0.05  18.02 
2005 -5.02 7.30 -1.80 -4.03 3.71 2.02 0.20 3.67 4.10 -7.58 8.19 -0.41  9.43 
2004 -1.13 9.61 -2.14 -12.52 -5.61 -5.04 -3.79 0.07 -1.54 3.62 10.47 -3.82  -13.21 
2003 5.09 10.40 -12.60 1.10 13.00 -2.20 2.40 0.00 2.60 7.20 -2.70 8.60  34.83 
2002 -4.70 -9.80 5.30 -4.10 6.50 13.70 5.60 -1.31 3.90 -11.90 -5.40 2.90  -2.39 
2001 -0.30 1.80 17.00 -6.80 -0.70 -0.20 -1.70 6.20 13.00 -0.30 -9.70 -1.70  14.50 
2000 -0.70 2.90 -2.50 -0.80 8.80 -4.70 -2.80 4.60 -5.90 2.70 7.20 9.00  17.65 
1999 -4.80 17.30 -6.00 5.00 -4.30 -1.10 -6.30 -0.80 7.50 -18.10 2.10 2.10  -11.01 
1998 -0.30 3.30 -3.80 -10.50 -0.60 -6.20 -3.70 32.80 8.10 -8.80 -3.00 2.80  3.94 
1997 5.60 8.70 3.90 -8.40 1.20 1.00 7.50 -4.30 -0.30 -6.70 1.00 5.90  14.29 
1996 -2.90 -16.50 -1.60 3.50 -5.90 4.10 1.50 -2.80 3.00 18.90 9.60 -8.70  -2.21 
1995 -7.90 7.70 21.30 16.70 22.80 -0.70 -19.30 -13.00 -9.70 -5.10 0.80 17.20  21.70 
1994 -13.00 -11.40 12.00 -1.40 11.90 -1.20 -6.80 -7.20 -1.20 -11.10 14.40 -0.20  -18.38 
1993 6.90 8.50 3.00 10.20 -5.50 -1.50 22.00 9.50 -2.70 -1.90 -2.40 8.20  65.02 
1992 -15.20 -5.80 -5.70 -4.80 -3.80 5.40 9.40 1.20 -12.10 -1.10 0.80 -4.30  -32.49 
1991 -7.30 -11.80 0.20 -4.80 -3.20 1.10 -11.30 -1.80 13.40 -2.80 -2.60 44.60  3.21 
1990 5.30 0.50 36.40 39.60 -15.90 18.00 11.50 16.70 9.40 2.90 0.20 -2.00  187.64 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Strategy Description

EMC is a systematic global macro investment management firm founded in 1988. EMC's Classic Program seeks to provide long-term positive returns with low correlation to equity, fixed income and hedge fund portfolios. EMC employs quantitative, systematic trading models across a broad range of liquid global financial and commodity markets. Sectors traded include stock indices, currencies, financial futures, precious and base metals, energies, agricultural and soft commodities. EMC's portfolio features a significant 40% allocation to commodity futures and 60% to financial futures. The Classic Program employs multiple proprietary independent trading systems that range in duration from 15 to 90 days. Individual systems are trend following and momentum based in nature and are designed to capture directional price movement over different time frames and under different market conditions. EMC actively manages risk at every level of the portfolio using current market volatility, account equity, correlations and other portfolio components to quantify and limit risk at the trade, market, sector and portfolio levels.

Performance Statistics

Date Range: 12/89 - 01/23
  Program S&P 500 Coquest 40 
Total Return 2577.80% 2249.09% 742.04% 
Annualized Return 10.42% 9.99% 6.65% 
Annualized Std. Deviation 26.76% 14.92% 10.83% 
Correlation -0.15 0.71 
Sharpe Ratio (rf=2.5%) 0.30 0.50 0.38 
Worst Month -19.30% -16.79% -8.16% 
Date of Worst Month 07/1995 10/2008 01/1992 
Worst Drawdown -45.16% -50.95% -15.74% 
Date of Worst Drawdown 5/95 - 5/96 10/07 - 2/09 4/11 - 9/13 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 12/89 - 01/23
Year or YTD Program S&P 500 Coquest 40 
2023 0.17 3.69 -1.11 
2022 22.24 -18.10 17.65 
2021 23.90 28.72 6.26 
2020 24.27 18.40 0.97 
2019 9.46 31.50 7.53 
2018 -1.69 -4.38 -4.29 
2017 -1.44 21.84 1.24 
2016 -13.83 11.98 -3.13 
2015 0.18 1.41 0.09 
2014 24.63 13.69 15.75 
2013 -7.34 32.41 -2.45 
2012 6.12 15.98 -4.75 
2011 -10.76 2.12 -3.23 
2010 6.57 15.06 11.33 
2009 -14.25 26.45 -7.98 
2008 46.26 -36.99 15.47 
2007 17.27 5.50 7.18 
2006 18.02 15.79 6.70 
2005 9.43 4.89 4.51 
2004 -13.21 10.87 2.57 
2003 34.83 28.69 15.99 
2002 -2.39 -22.10 15.22 
2001 14.50 -11.88 5.39 
2000 17.65 -9.09 10.63 
1999 -11.01 21.04 0.87 
1998 3.94 28.58 12.61 
1997 14.29 33.38 10.22 
1996 -2.21 22.96 16.04 
1995 21.70 37.57 13.16 
1994 -18.38 1.32 -5.46 
1993 65.02 10.08 14.66 
1992 -32.49 7.65 0.89 
1991 3.21 30.47 15.12 
1990 187.64 -3.10 37.15 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 12/89 - 01/23
Date: 1/31/2023 Perf: $8,420.38 Date: 12/31/2022 Perf: $8,514.89 Date: 11/30/2022 Perf: $8,569.74 Date: 10/31/2022 Perf: $9,046.49 Date: 9/30/2022 Perf: $8,982.71 Date: 8/31/2022 Perf: $8,615.68 Date: 7/31/2022 Perf: $8,379.38 Date: 6/30/2022 Perf: $8,576.65 Date: 5/31/2022 Perf: $8,469.93 Date: 4/30/2022 Perf: $8,509.92 Date: 3/31/2022 Perf: $8,070.10 Date: 2/28/2022 Perf: $7,535.81 Date: 1/31/2022 Perf: $7,372.87 Date: 12/31/2021 Perf: $7,237.53 Date: 11/30/2021 Perf: $7,230.30 Date: 10/31/2021 Perf: $7,414.17 Date: 9/30/2021 Perf: $7,269.51 Date: 8/31/2021 Perf: $7,233.34 Date: 7/31/2021 Perf: $7,231.90 Date: 6/30/2021 Perf: $7,200.21 Date: 5/31/2021 Perf: $7,227.68 Date: 4/30/2021 Perf: $7,123.67 Date: 3/31/2021 Perf: $7,000.47 Date: 2/28/2021 Perf: $6,907.90 Date: 1/31/2021 Perf: $6,749.29 Date: 12/31/2020 Perf: $6,811.27 Date: 11/30/2020 Perf: $6,563.82 Date: 10/31/2020 Perf: $6,506.56 Date: 9/30/2020 Perf: $6,527.45 Date: 8/31/2020 Perf: $6,624.16 Date: 7/31/2020 Perf: $6,699.87 Date: 6/30/2020 Perf: $6,574.30 Date: 5/31/2020 Perf: $6,659.54 Date: 4/30/2020 Perf: $6,738.38 Date: 3/31/2020 Perf: $6,716.22 Date: 2/29/2020 Perf: $6,712.19 Date: 1/31/2020 Perf: $6,813.72 Date: 12/31/2019 Perf: $6,745.59 Date: 11/30/2019 Perf: $6,787.67 Date: 10/31/2019 Perf: $6,721.80 Date: 9/30/2019 Perf: $6,873.70 Date: 8/31/2019 Perf: $7,069.53 Date: 7/31/2019 Perf: $6,822.55 Date: 6/30/2019 Perf: $6,597.58 Date: 5/31/2019 Perf: $6,468.21 Date: 4/30/2019 Perf: $6,597.52 Date: 3/31/2019 Perf: $6,420.95 Date: 2/28/2019 Perf: $6,198.42 Date: 1/31/2019 Perf: $6,159.01 Date: 12/31/2018 Perf: $6,273.18 Date: 11/30/2018 Perf: $6,246.94 Date: 10/31/2018 Perf: $6,322.81 Date: 9/30/2018 Perf: $6,482.94 Date: 8/31/2018 Perf: $6,512.25 Date: 7/31/2018 Perf: $6,350.32 Date: 6/30/2018 Perf: $6,398.30 Date: 5/31/2018 Perf: $6,345.00 Date: 4/30/2018 Perf: $6,427.92 Date: 3/31/2018 Perf: $6,359.25 Date: 2/28/2018 Perf: $6,364.97 Date: 1/31/2018 Perf: $6,778.46 Date: 12/31/2017 Perf: $6,554.30 Date: 11/30/2017 Perf: $6,483.63 Date: 10/31/2017 Perf: $6,475.21 Date: 9/30/2017 Perf: $6,214.81 Date: 8/31/2017 Perf: $6,348.77 Date: 7/31/2017 Perf: $6,245.10 Date: 6/30/2017 Perf: $6,220.84 Date: 5/31/2017 Perf: $6,407.95 Date: 4/30/2017 Perf: $6,395.80 Date: 3/31/2017 Perf: $6,434.41 Date: 2/28/2017 Perf: $6,529.74 Date: 1/31/2017 Perf: $6,390.43 Date: 12/31/2016 Perf: $6,473.94 Date: 11/30/2016 Perf: $6,425.11 Date: 10/31/2016 Perf: $6,496.58 Date: 9/30/2016 Perf: $6,668.63 Date: 8/31/2016 Perf: $6,755.78 Date: 7/31/2016 Perf: $6,942.53 Date: 6/30/2016 Perf: $6,872.43 Date: 5/31/2016 Perf: $6,592.26 Date: 4/30/2016 Perf: $6,709.68 Date: 3/31/2016 Perf: $6,882.43 Date: 2/29/2016 Perf: $7,085.79 Date: 1/31/2016 Perf: $6,915.67 Date: 12/31/2015 Perf: $6,683.09 Date: 11/30/2015 Perf: $6,840.42 Date: 10/31/2015 Perf: $6,614.86 Date: 9/30/2015 Perf: $6,731.99 Date: 8/31/2015 Perf: $6,589.01 Date: 7/31/2015 Perf: $6,705.01 Date: 6/30/2015 Perf: $6,452.71 Date: 5/31/2015 Perf: $6,806.65 Date: 4/30/2015 Perf: $6,856.02 Date: 3/31/2015 Perf: $7,131.29 Date: 2/28/2015 Perf: $6,977.09 Date: 1/31/2015 Perf: $6,988.27 Date: 12/31/2014 Perf: $6,677.12 Date: 11/30/2014 Perf: $6,561.63 Date: 10/31/2014 Perf: $6,193.14 Date: 9/30/2014 Perf: $6,103.42 Date: 8/31/2014 Perf: $6,013.82 Date: 7/31/2014 Perf: $5,769.76 Date: 6/30/2014 Perf: $5,816.29 Date: 5/31/2014 Perf: $5,766.69 Date: 4/30/2014 Perf: $5,622.75 Date: 3/31/2014 Perf: $5,580.34 Date: 2/28/2014 Perf: $5,664.17 Date: 1/31/2014 Perf: $5,618.10 Date: 12/31/2013 Perf: $5,768.66 Date: 11/30/2013 Perf: $5,776.75 Date: 10/31/2013 Perf: $5,674.05 Date: 9/30/2013 Perf: $5,547.02 Date: 8/31/2013 Perf: $5,580.51 Date: 7/31/2013 Perf: $5,689.75 Date: 6/30/2013 Perf: $5,739.68 Date: 5/31/2013 Perf: $5,965.79 Date: 4/30/2013 Perf: $6,233.84 Date: 3/31/2013 Perf: $6,077.05 Date: 2/28/2013 Perf: $5,990.79 Date: 1/31/2013 Perf: $6,025.74 Date: 12/31/2012 Perf: $5,913.38 Date: 11/30/2012 Perf: $5,884.55 Date: 10/31/2012 Perf: $5,868.12 Date: 9/30/2012 Perf: $6,088.52 Date: 8/31/2012 Perf: $6,190.67 Date: 7/31/2012 Perf: $6,276.02 Date: 6/30/2012 Perf: $6,029.42 Date: 5/31/2012 Perf: $6,264.98 Date: 4/30/2012 Perf: $6,148.17 Date: 3/31/2012 Perf: $6,111.50 Date: 2/29/2012 Perf: $6,253.45 Date: 1/31/2012 Perf: $6,227.92 Date: 12/31/2011 Perf: $6,208.05 Date: 11/30/2011 Perf: $6,149.02 Date: 10/31/2011 Perf: $6,130.63 Date: 9/30/2011 Perf: $6,383.41 Date: 8/31/2011 Perf: $6,387.24 Date: 7/31/2011 Perf: $6,400.04 Date: 6/30/2011 Perf: $6,178.25 Date: 5/31/2011 Perf: $6,343.17 Date: 4/30/2011 Perf: $6,583.46 Date: 3/31/2011 Perf: $6,336.35 Date: 2/28/2011 Perf: $6,434.80 Date: 1/31/2011 Perf: $6,327.24 Date: 12/31/2010 Perf: $6,415.12 Date: 11/30/2010 Perf: $6,151.23 Date: 10/31/2010 Perf: $6,376.98 Date: 9/30/2010 Perf: $6,138.79 Date: 8/31/2010 Perf: $6,029.07 Date: 7/31/2010 Perf: $5,789.39 Date: 6/30/2010 Perf: $5,865.04 Date: 5/31/2010 Perf: $5,842.84 Date: 4/30/2010 Perf: $5,987.74 Date: 3/31/2010 Perf: $5,896.93 Date: 2/28/2010 Perf: $5,671.76 Date: 1/31/2010 Perf: $5,618.95 Date: 12/31/2009 Perf: $5,762.43 Date: 11/30/2009 Perf: $6,002.53 Date: 10/31/2009 Perf: $5,770.00 Date: 9/30/2009 Perf: $5,921.59 Date: 8/31/2009 Perf: $5,783.93 Date: 7/31/2009 Perf: $5,764.91 Date: 6/30/2009 Perf: $5,771.26 Date: 5/31/2009 Perf: $5,928.97 Date: 4/30/2009 Perf: $5,848.26 Date: 3/31/2009 Perf: $6,045.97 Date: 2/28/2009 Perf: $6,218.21 Date: 1/31/2009 Perf: $6,221.32 Date: 12/31/2008 Perf: $6,262.03 Date: 11/30/2008 Perf: $6,105.12 Date: 10/31/2008 Perf: $5,889.00 Date: 9/30/2008 Perf: $5,600.57 Date: 8/31/2008 Perf: $5,588.83 Date: 7/31/2008 Perf: $5,742.15 Date: 6/30/2008 Perf: $6,018.39 Date: 5/31/2008 Perf: $5,861.88 Date: 4/30/2008 Perf: $5,743.56 Date: 3/31/2008 Perf: $5,810.38 Date: 2/29/2008 Perf: $5,836.06 Date: 1/31/2008 Perf: $5,521.87 Date: 12/31/2007 Perf: $5,423.16 Date: 11/30/2007 Perf: $5,435.67 Date: 10/31/2007 Perf: $5,471.23 Date: 9/30/2007 Perf: $5,245.16 Date: 8/31/2007 Perf: $5,011.14 Date: 7/31/2007 Perf: $5,205.30 Date: 6/30/2007 Perf: $5,371.27 Date: 5/31/2007 Perf: $5,220.40 Date: 4/30/2007 Perf: $5,040.46 Date: 3/31/2007 Perf: $4,837.29 Date: 2/28/2007 Perf: $4,953.20 Date: 1/31/2007 Perf: $5,146.18 Date: 12/31/2006 Perf: $5,059.66 Date: 11/30/2006 Perf: $4,894.23 Date: 10/31/2006 Perf: $4,777.19 Date: 9/30/2006 Perf: $4,725.21 Date: 8/31/2006 Perf: $4,775.84 Date: 7/31/2006 Perf: $4,722.94 Date: 6/30/2006 Perf: $4,793.89 Date: 5/31/2006 Perf: $4,860.48 Date: 4/30/2006 Perf: $4,992.79 Date: 3/31/2006 Perf: $4,873.87 Date: 2/28/2006 Perf: $4,746.66 Date: 1/31/2006 Perf: $4,832.68 Date: 12/31/2005 Perf: $4,742.10 Date: 11/30/2005 Perf: $4,829.52 Date: 10/31/2005 Perf: $4,630.85 Date: 9/30/2005 Perf: $4,623.46 Date: 8/31/2005 Perf: $4,553.33 Date: 7/31/2005 Perf: $4,528.88 Date: 6/30/2005 Perf: $4,526.16 Date: 5/31/2005 Perf: $4,376.91 Date: 4/30/2005 Perf: $4,245.72 Date: 3/31/2005 Perf: $4,352.35 Date: 2/28/2005 Perf: $4,376.86 Date: 1/31/2005 Perf: $4,346.87 Date: 12/31/2004 Perf: $4,537.44 Date: 11/30/2004 Perf: $4,522.52 Date: 10/31/2004 Perf: $4,290.40 Date: 9/30/2004 Perf: $4,148.53 Date: 8/31/2004 Perf: $4,093.27 Date: 7/31/2004 Perf: $4,121.71 Date: 6/30/2004 Perf: $4,169.24 Date: 5/31/2004 Perf: $4,311.52 Date: 4/30/2004 Perf: $4,381.18 Date: 3/31/2004 Perf: $4,671.76 Date: 2/29/2004 Perf: $4,718.00 Date: 1/31/2004 Perf: $4,466.11 Date: 12/31/2003 Perf: $4,423.64 Date: 11/30/2003 Perf: $4,240.05 Date: 10/31/2003 Perf: $4,252.80 Date: 9/30/2003 Perf: $4,159.22 Date: 8/31/2003 Perf: $4,178.44 Date: 7/31/2003 Perf: $4,139.53 Date: 6/30/2003 Perf: $4,235.25 Date: 5/31/2003 Perf: $4,344.29 Date: 4/30/2003 Perf: $4,103.42 Date: 3/31/2003 Perf: $4,043.97 Date: 2/28/2003 Perf: $4,289.32 Date: 1/31/2003 Perf: $4,047.68 Date: 12/31/2002 Perf: $3,813.88 Date: 11/30/2002 Perf: $3,594.95 Date: 10/31/2002 Perf: $3,696.99 Date: 9/30/2002 Perf: $3,898.95 Date: 8/31/2002 Perf: $3,727.13 Date: 7/31/2002 Perf: $3,639.42 Date: 6/30/2002 Perf: $3,454.93 Date: 5/31/2002 Perf: $3,174.32 Date: 4/30/2002 Perf: $3,094.18 Date: 3/31/2002 Perf: $3,168.97 Date: 2/28/2002 Perf: $3,178.19 Date: 1/31/2002 Perf: $3,270.41 Date: 12/31/2001 Perf: $3,310.13 Date: 11/30/2001 Perf: $3,241.73 Date: 10/31/2001 Perf: $3,514.83 Date: 9/30/2001 Perf: $3,369.28 Date: 8/31/2001 Perf: $3,268.61 Date: 7/31/2001 Perf: $3,173.71 Date: 6/30/2001 Perf: $3,166.75 Date: 5/31/2001 Perf: $3,201.97 Date: 4/30/2001 Perf: $3,201.01 Date: 3/31/2001 Perf: $3,411.14 Date: 2/28/2001 Perf: $3,203.55 Date: 1/31/2001 Perf: $3,173.40 Date: 12/31/2000 Perf: $3,140.73 Date: 11/30/2000 Perf: $2,901.91 Date: 10/31/2000 Perf: $2,730.95 Date: 9/30/2000 Perf: $2,675.04 Date: 8/31/2000 Perf: $2,722.41 Date: 7/31/2000 Perf: $2,667.46 Date: 6/30/2000 Perf: $2,715.25 Date: 5/31/2000 Perf: $2,758.00 Date: 4/30/2000 Perf: $2,720.73 Date: 3/31/2000 Perf: $2,762.44 Date: 2/29/2000 Perf: $2,832.69 Date: 1/31/2000 Perf: $2,864.77 Date: 12/31/1999 Perf: $2,838.94 Date: 11/30/1999 Perf: $2,802.78 Date: 10/31/1999 Perf: $2,749.44 Date: 9/30/1999 Perf: $2,876.59 Date: 8/31/1999 Perf: $2,866.56 Date: 7/31/1999 Perf: $2,849.46 Date: 6/30/1999 Perf: $2,871.86 Date: 5/31/1999 Perf: $2,799.08 Date: 4/30/1999 Perf: $2,846.33 Date: 3/31/1999 Perf: $2,761.55 Date: 2/28/1999 Perf: $2,784.11 Date: 1/31/1999 Perf: $2,733.00 Date: 12/31/1998 Perf: $2,814.33 Date: 11/30/1998 Perf: $2,749.71 Date: 10/31/1998 Perf: $2,800.97 Date: 9/30/1998 Perf: $2,812.22 Date: 8/31/1998 Perf: $2,691.89 Date: 7/31/1998 Perf: $2,494.11 Date: 6/30/1998 Perf: $2,488.88 Date: 5/31/1998 Perf: $2,485.90 Date: 4/30/1998 Perf: $2,424.32 Date: 3/31/1998 Perf: $2,524.55 Date: 2/28/1998 Perf: $2,495.35 Date: 1/31/1998 Perf: $2,514.97 Date: 12/31/1997 Perf: $2,499.22 Date: 11/30/1997 Perf: $2,433.99 Date: 10/31/1997 Perf: $2,400.39 Date: 9/30/1997 Perf: $2,415.36 Date: 8/31/1997 Perf: $2,385.31 Date: 7/31/1997 Perf: $2,504.52 Date: 6/30/1997 Perf: $2,341.11 Date: 5/31/1997 Perf: $2,314.27 Date: 4/30/1997 Perf: $2,353.33 Date: 3/31/1997 Perf: $2,409.72 Date: 2/28/1997 Perf: $2,412.37 Date: 1/31/1997 Perf: $2,356.06 Date: 12/31/1996 Perf: $2,267.41 Date: 11/30/1996 Perf: $2,320.31 Date: 10/31/1996 Perf: $2,167.50 Date: 9/30/1996 Perf: $2,005.09 Date: 8/31/1996 Perf: $1,918.93 Date: 7/31/1996 Perf: $1,925.67 Date: 6/30/1996 Perf: $1,976.67 Date: 5/31/1996 Perf: $1,956.71 Date: 4/30/1996 Perf: $2,004.00 Date: 3/31/1996 Perf: $1,904.58 Date: 2/29/1996 Perf: $1,893.79 Date: 1/31/1996 Perf: $2,014.88 Date: 12/31/1995 Perf: $1,953.92 Date: 11/30/1995 Perf: $1,869.96 Date: 10/31/1995 Perf: $1,839.06 Date: 9/30/1995 Perf: $1,837.23 Date: 8/31/1995 Perf: $1,884.34 Date: 7/31/1995 Perf: $1,861.26 Date: 6/30/1995 Perf: $1,898.47 Date: 5/31/1995 Perf: $1,940.38 Date: 4/30/1995 Perf: $1,918.70 Date: 3/31/1995 Perf: $1,884.96 Date: 2/28/1995 Perf: $1,741.62 Date: 1/31/1995 Perf: $1,680.13 Date: 12/31/1994 Perf: $1,726.75 Date: 11/30/1994 Perf: $1,757.15 Date: 10/31/1994 Perf: $1,732.89 Date: 9/30/1994 Perf: $1,733.76 Date: 8/31/1994 Perf: $1,711.34 Date: 7/31/1994 Perf: $1,778.75 Date: 6/30/1994 Perf: $1,836.23 Date: 5/31/1994 Perf: $1,753.63 Date: 4/30/1994 Perf: $1,715.21 Date: 3/31/1994 Perf: $1,738.33 Date: 2/28/1994 Perf: $1,711.12 Date: 1/31/1994 Perf: $1,750.87 Date: 12/31/1993 Perf: $1,826.48 Date: 11/30/1993 Perf: $1,794.01 Date: 10/31/1993 Perf: $1,824.85 Date: 9/30/1993 Perf: $1,837.72 Date: 8/31/1993 Perf: $1,860.98 Date: 7/31/1993 Perf: $1,882.44 Date: 6/30/1993 Perf: $1,795.02 Date: 5/31/1993 Perf: $1,769.71 Date: 4/30/1993 Perf: $1,767.95 Date: 3/31/1993 Perf: $1,690.20 Date: 2/28/1993 Perf: $1,699.54 Date: 1/31/1993 Perf: $1,579.35 Date: 12/31/1992 Perf: $1,592.89 Date: 11/30/1992 Perf: $1,615.84 Date: 10/31/1992 Perf: $1,589.92 Date: 9/30/1992 Perf: $1,594.07 Date: 8/31/1992 Perf: $1,633.77 Date: 7/31/1992 Perf: $1,550.65 Date: 6/30/1992 Perf: $1,447.05 Date: 5/31/1992 Perf: $1,356.56 Date: 4/30/1992 Perf: $1,342.07 Date: 3/31/1992 Perf: $1,393.92 Date: 2/29/1992 Perf: $1,395.04 Date: 1/31/1992 Perf: $1,449.99 Date: 12/31/1991 Perf: $1,578.83 Date: 11/30/1991 Perf: $1,360.94 Date: 10/31/1991 Perf: $1,347.20 Date: 9/30/1991 Perf: $1,383.87 Date: 8/31/1991 Perf: $1,312.35 Date: 7/31/1991 Perf: $1,325.74 Date: 6/30/1991 Perf: $1,388.93 Date: 5/31/1991 Perf: $1,352.55 Date: 4/30/1991 Perf: $1,367.59 Date: 3/31/1991 Perf: $1,390.54 Date: 2/28/1991 Perf: $1,300.78 Date: 1/31/1991 Perf: $1,296.89 Date: 12/31/1990 Perf: $1,371.50 Date: 11/30/1990 Perf: $1,389.71 Date: 10/31/1990 Perf: $1,395.15 Date: 9/30/1990 Perf: $1,354.25 Date: 8/31/1990 Perf: $1,310.10 Date: 7/31/1990 Perf: $1,213.06 Date: 6/30/1990 Perf: $1,099.18 Date: 5/31/1990 Perf: $1,070.49 Date: 4/30/1990 Perf: $1,145.28 Date: 3/31/1990 Perf: $1,104.20 Date: 2/28/1990 Perf: $1,064.70 Date: 1/31/1990 Perf: $1,042.70 Date: 12/31/1989 Perf: $1,000.00 Date: 2/28/2023 Perf: $22,380.57 Date: 1/31/2023 Perf: $22,940.31 Date: 12/31/2022 Perf: $21,584.79 Date: 11/30/2022 Perf: $22,904.06 Date: 10/31/2022 Perf: $21,691.51 Date: 9/30/2022 Perf: $20,066.15 Date: 8/31/2022 Perf: $22,101.72 Date: 7/31/2022 Perf: $23,041.82 Date: 6/30/2022 Perf: $21,096.71 Date: 5/31/2022 Perf: $22,993.69 Date: 4/30/2022 Perf: $22,952.37 Date: 3/31/2022 Perf: $25,145.02 Date: 2/28/2022 Perf: $24,245.51 Date: 1/31/2022 Perf: $24,992.79 Date: 12/31/2021 Perf: $26,355.37 Date: 11/30/2021 Perf: $25,225.27 Date: 10/31/2021 Perf: $25,400.54 Date: 9/30/2021 Perf: $23,736.60 Date: 8/31/2021 Perf: $24,894.18 Date: 7/31/2021 Perf: $24,159.72 Date: 6/30/2021 Perf: $23,598.09 Date: 5/31/2021 Perf: $23,060.77 Date: 4/30/2021 Perf: $22,900.47 Date: 3/31/2021 Perf: $21,739.58 Date: 2/28/2021 Perf: $20,827.34 Date: 1/31/2021 Perf: $20,267.94 Date: 12/31/2020 Perf: $20,474.74 Date: 11/30/2020 Perf: $19,717.58 Date: 10/31/2020 Perf: $17,771.59 Date: 9/30/2020 Perf: $18,257.24 Date: 8/31/2020 Perf: $18,978.42 Date: 7/31/2020 Perf: $17,705.40 Date: 6/30/2020 Perf: $16,760.13 Date: 5/31/2020 Perf: $16,433.11 Date: 4/30/2020 Perf: $15,686.43 Date: 3/31/2020 Perf: $13,903.95 Date: 2/29/2020 Perf: $15,863.03 Date: 1/31/2020 Perf: $17,285.64 Date: 12/31/2019 Perf: $17,292.56 Date: 11/30/2019 Perf: $16,785.63 Date: 10/31/2019 Perf: $16,197.66 Date: 9/30/2019 Perf: $15,853.63 Date: 8/31/2019 Perf: $15,562.61 Date: 7/31/2019 Perf: $15,812.45 Date: 6/30/2019 Perf: $15,587.98 Date: 5/31/2019 Perf: $14,561.40 Date: 4/30/2019 Perf: $15,548.75 Date: 3/31/2019 Perf: $14,943.54 Date: 2/28/2019 Perf: $14,659.15 Date: 1/31/2019 Perf: $14,203.22 Date: 12/31/2018 Perf: $13,149.92 Date: 11/30/2018 Perf: $14,455.22 Date: 10/31/2018 Perf: $14,166.23 Date: 9/30/2018 Perf: $15,206.35 Date: 8/31/2018 Perf: $15,120.16 Date: 7/31/2018 Perf: $14,642.81 Date: 6/30/2018 Perf: $14,117.63 Date: 5/31/2018 Perf: $14,030.64 Date: 4/30/2018 Perf: $13,700.46 Date: 3/31/2018 Perf: $13,648.59 Date: 2/28/2018 Perf: $14,004.30 Date: 1/31/2018 Perf: $14,540.86 Date: 12/31/2017 Perf: $13,752.82 Date: 11/30/2017 Perf: $13,601.84 Date: 10/31/2017 Perf: $13,196.71 Date: 9/30/2017 Perf: $12,896.22 Date: 8/31/2017 Perf: $12,635.92 Date: 7/31/2017 Perf: $12,596.87 Date: 6/30/2017 Perf: $12,342.61 Date: 5/31/2017 Perf: $12,266.56 Date: 4/30/2017 Perf: $12,096.01 Date: 3/31/2017 Perf: $11,972.69 Date: 2/28/2017 Perf: $11,958.34 Date: 1/31/2017 Perf: $11,501.72 Date: 12/31/2016 Perf: $11,287.26 Date: 11/30/2016 Perf: $11,068.11 Date: 10/31/2016 Perf: $10,673.21 Date: 9/30/2016 Perf: $10,871.06 Date: 8/31/2016 Perf: $10,868.89 Date: 7/31/2016 Perf: $10,853.69 Date: 6/30/2016 Perf: $10,467.44 Date: 5/31/2016 Perf: $10,440.30 Date: 4/30/2016 Perf: $10,255.69 Date: 3/31/2016 Perf: $10,215.85 Date: 2/29/2016 Perf: $9,567.20 Date: 1/31/2016 Perf: $9,579.65 Date: 12/31/2015 Perf: $10,079.60 Date: 11/30/2015 Perf: $10,241.41 Date: 10/31/2015 Perf: $10,210.78 Date: 9/30/2015 Perf: $9,416.06 Date: 8/31/2015 Perf: $9,654.53 Date: 7/31/2015 Perf: $10,274.06 Date: 6/30/2015 Perf: $10,062.74 Date: 5/31/2015 Perf: $10,261.82 Date: 4/30/2015 Perf: $10,131.13 Date: 3/31/2015 Perf: $10,034.79 Date: 2/28/2015 Perf: $10,195.89 Date: 1/31/2015 Perf: $9,641.50 Date: 12/31/2014 Perf: $9,939.69 Date: 11/30/2014 Perf: $9,964.60 Date: 10/31/2014 Perf: $9,703.58 Date: 9/30/2014 Perf: $9,472.45 Date: 8/31/2014 Perf: $9,606.95 Date: 7/31/2014 Perf: $9,237.45 Date: 6/30/2014 Perf: $9,366.71 Date: 5/31/2014 Perf: $9,176.75 Date: 4/30/2014 Perf: $8,966.05 Date: 3/31/2014 Perf: $8,900.19 Date: 2/28/2014 Perf: $8,826.05 Date: 1/31/2014 Perf: $8,440.33 Date: 12/31/2013 Perf: $8,742.83 Date: 11/30/2013 Perf: $8,527.09 Date: 10/31/2013 Perf: $8,274.71 Date: 9/30/2013 Perf: $7,910.82 Date: 8/31/2013 Perf: $7,669.98 Date: 7/31/2013 Perf: $7,899.05 Date: 6/30/2013 Perf: $7,516.46 Date: 5/31/2013 Perf: $7,618.55 Date: 4/30/2013 Perf: $7,444.35 Date: 3/31/2013 Perf: $7,303.40 Date: 2/28/2013 Perf: $7,039.42 Date: 1/31/2013 Perf: $6,944.97 Date: 12/31/2012 Perf: $6,602.94 Date: 11/30/2012 Perf: $6,543.39 Date: 10/31/2012 Perf: $6,505.66 Date: 9/30/2012 Perf: $6,628.28 Date: 8/31/2012 Perf: $6,461.57 Date: 7/31/2012 Perf: $6,319.39 Date: 6/30/2012 Perf: $6,232.75 Date: 5/31/2012 Perf: $5,986.12 Date: 4/30/2012 Perf: $6,368.89 Date: 3/31/2012 Perf: $6,409.27 Date: 2/29/2012 Perf: $6,205.12 Date: 1/31/2012 Perf: $5,948.16 Date: 12/31/2011 Perf: $5,693.11 Date: 11/30/2011 Perf: $5,635.63 Date: 10/31/2011 Perf: $5,648.05 Date: 9/30/2011 Perf: $5,091.55 Date: 8/31/2011 Perf: $5,476.55 Date: 7/31/2011 Perf: $5,791.00 Date: 6/30/2011 Perf: $5,910.99 Date: 5/31/2011 Perf: $6,011.38 Date: 4/30/2011 Perf: $6,080.09 Date: 3/31/2011 Perf: $5,905.29 Date: 2/28/2011 Perf: $5,902.93 Date: 1/31/2011 Perf: $5,707.18 Date: 12/31/2010 Perf: $5,575.05 Date: 11/30/2010 Perf: $5,225.95 Date: 10/31/2010 Perf: $5,225.43 Date: 9/30/2010 Perf: $5,033.65 Date: 8/31/2010 Perf: $4,621.42 Date: 7/31/2010 Perf: $4,839.69 Date: 6/30/2010 Perf: $4,522.65 Date: 5/31/2010 Perf: $4,772.24 Date: 4/30/2010 Perf: $5,186.65 Date: 3/31/2010 Perf: $5,105.98 Date: 2/28/2010 Perf: $4,815.60 Date: 1/31/2010 Perf: $4,670.80 Date: 12/31/2009 Perf: $4,845.23 Date: 11/30/2009 Perf: $4,753.49 Date: 10/31/2009 Perf: $4,484.42 Date: 9/30/2009 Perf: $4,569.41 Date: 8/31/2009 Perf: $4,405.10 Date: 7/31/2009 Perf: $4,251.62 Date: 6/30/2009 Perf: $3,952.79 Date: 5/31/2009 Perf: $3,944.90 Date: 4/30/2009 Perf: $3,736.05 Date: 3/31/2009 Perf: $3,409.74 Date: 2/28/2009 Perf: $3,135.11 Date: 1/31/2009 Perf: $3,508.79 Date: 12/31/2008 Perf: $3,831.81 Date: 11/30/2008 Perf: $3,791.62 Date: 10/31/2008 Perf: $4,084.92 Date: 9/30/2008 Perf: $4,909.17 Date: 8/31/2008 Perf: $5,389.36 Date: 7/31/2008 Perf: $5,312.33 Date: 6/30/2008 Perf: $5,357.34 Date: 5/31/2008 Perf: $5,850.54 Date: 4/30/2008 Perf: $5,775.45 Date: 3/31/2008 Perf: $5,507.25 Date: 2/29/2008 Perf: $5,531.03 Date: 1/31/2008 Perf: $5,716.83 Date: 12/31/2007 Perf: $6,081.74 Date: 11/30/2007 Perf: $6,123.99 Date: 10/31/2007 Perf: $6,391.14 Date: 9/30/2007 Perf: $6,291.11 Date: 8/31/2007 Perf: $6,064.31 Date: 7/31/2007 Perf: $5,974.69 Date: 6/30/2007 Perf: $6,165.83 Date: 5/31/2007 Perf: $6,269.91 Date: 4/30/2007 Perf: $6,058.47 Date: 3/31/2007 Perf: $5,801.46 Date: 2/28/2007 Perf: $5,737.21 Date: 1/31/2007 Perf: $5,851.90 Date: 12/31/2006 Perf: $5,764.85 Date: 11/30/2006 Perf: $5,685.26 Date: 10/31/2006 Perf: $5,579.25 Date: 9/30/2006 Perf: $5,403.11 Date: 8/31/2006 Perf: $5,267.22 Date: 7/31/2006 Perf: $5,144.77 Date: 6/30/2006 Perf: $5,113.07 Date: 5/31/2006 Perf: $5,105.92 Date: 4/30/2006 Perf: $5,257.34 Date: 3/31/2006 Perf: $5,187.82 Date: 2/28/2006 Perf: $5,124.28 Date: 1/31/2006 Perf: $5,110.48 Date: 12/31/2005 Perf: $4,978.55 Date: 11/30/2005 Perf: $4,977.05 Date: 10/31/2005 Perf: $4,795.77 Date: 9/30/2005 Perf: $4,877.22 Date: 8/31/2005 Perf: $4,838.04 Date: 7/31/2005 Perf: $4,882.47 Date: 6/30/2005 Perf: $4,707.35 Date: 5/31/2005 Perf: $4,700.77 Date: 4/30/2005 Perf: $4,555.89 Date: 3/31/2005 Perf: $4,644.13 Date: 2/28/2005 Perf: $4,727.82 Date: 1/31/2005 Perf: $4,630.57 Date: 12/31/2004 Perf: $4,746.38 Date: 11/30/2004 Perf: $4,590.31 Date: 10/31/2004 Perf: $4,411.64 Date: 9/30/2004 Perf: $4,345.16 Date: 8/31/2004 Perf: $4,298.74 Date: 7/31/2004 Perf: $4,281.61 Date: 6/30/2004 Perf: $4,428.18 Date: 5/31/2004 Perf: $4,343.91 Date: 4/30/2004 Perf: $4,285.20 Date: 3/31/2004 Perf: $4,353.55 Date: 2/29/2004 Perf: $4,420.30 Date: 1/31/2004 Perf: $4,359.70 Date: 12/31/2003 Perf: $4,280.93 Date: 11/30/2003 Perf: $4,067.78 Date: 10/31/2003 Perf: $4,032.30 Date: 9/30/2003 Perf: $3,816.29 Date: 8/31/2003 Perf: $3,857.18 Date: 7/31/2003 Perf: $3,783.40 Date: 6/30/2003 Perf: $3,717.97 Date: 5/31/2003 Perf: $3,670.98 Date: 4/30/2003 Perf: $3,487.20 Date: 3/31/2003 Perf: $3,221.73 Date: 2/28/2003 Perf: $3,190.78 Date: 1/31/2003 Perf: $3,239.37 Date: 12/31/2002 Perf: $3,326.53 Date: 11/30/2002 Perf: $3,533.97 Date: 10/31/2002 Perf: $3,337.40 Date: 9/30/2002 Perf: $3,067.46 Date: 8/31/2002 Perf: $3,441.56 Date: 7/31/2002 Perf: $3,418.99 Date: 6/30/2002 Perf: $3,708.24 Date: 5/31/2002 Perf: $3,992.50 Date: 4/30/2002 Perf: $4,022.27 Date: 3/31/2002 Perf: $4,281.74 Date: 2/28/2002 Perf: $4,126.58 Date: 1/31/2002 Perf: $4,207.79 Date: 12/31/2001 Perf: $4,270.14 Date: 11/30/2001 Perf: $4,232.89 Date: 10/31/2001 Perf: $3,931.35 Date: 9/30/2001 Perf: $3,857.67 Date: 8/31/2001 Perf: $4,196.77 Date: 7/31/2001 Perf: $4,477.03 Date: 6/30/2001 Perf: $4,521.34 Date: 5/31/2001 Perf: $4,633.94 Date: 4/30/2001 Perf: $4,603.10 Date: 3/31/2001 Perf: $4,271.23 Date: 2/28/2001 Perf: $4,560.36 Date: 1/31/2001 Perf: $5,018.00 Date: 12/31/2000 Perf: $4,845.97 Date: 11/30/2000 Perf: $4,822.34 Date: 10/31/2000 Perf: $5,234.84 Date: 9/30/2000 Perf: $5,256.92 Date: 8/31/2000 Perf: $5,549.96 Date: 7/31/2000 Perf: $5,225.46 Date: 6/30/2000 Perf: $5,308.27 Date: 5/31/2000 Perf: $5,180.31 Date: 4/30/2000 Perf: $5,288.73 Date: 3/31/2000 Perf: $5,452.86 Date: 2/29/2000 Perf: $4,967.08 Date: 1/31/2000 Perf: $5,062.77 Date: 12/31/1999 Perf: $5,330.35 Date: 11/30/1999 Perf: $5,033.86 Date: 10/31/1999 Perf: $4,933.70 Date: 9/30/1999 Perf: $4,639.99 Date: 8/31/1999 Perf: $4,770.71 Date: 7/31/1999 Perf: $4,794.20 Date: 6/30/1999 Perf: $4,948.60 Date: 5/31/1999 Perf: $4,688.39 Date: 4/30/1999 Perf: $4,801.71 Date: 3/31/1999 Perf: $4,622.81 Date: 2/28/1999 Perf: $4,445.01 Date: 1/31/1999 Perf: $4,587.69 Date: 12/31/1998 Perf: $4,403.62 Date: 11/30/1998 Perf: $4,163.78 Date: 10/31/1998 Perf: $3,925.87 Date: 9/30/1998 Perf: $3,630.70 Date: 8/31/1998 Perf: $3,411.99 Date: 7/31/1998 Perf: $3,988.76 Date: 6/30/1998 Perf: $4,031.50 Date: 5/31/1998 Perf: $3,874.21 Date: 4/30/1998 Perf: $3,942.01 Date: 3/31/1998 Perf: $3,902.59 Date: 2/28/1998 Perf: $3,712.51 Date: 1/31/1998 Perf: $3,462.84 Date: 12/31/1997 Perf: $3,424.83 Date: 11/30/1997 Perf: $3,366.91 Date: 10/31/1997 Perf: $3,217.92 Date: 9/30/1997 Perf: $3,329.12 Date: 8/31/1997 Perf: $3,156.16 Date: 7/31/1997 Perf: $3,343.39 Date: 6/30/1997 Perf: $3,096.88 Date: 5/31/1997 Perf: $2,964.09 Date: 4/30/1997 Perf: $2,793.94 Date: 3/31/1997 Perf: $2,636.53 Date: 2/28/1997 Perf: $2,749.54 Date: 1/31/1997 Perf: $2,728.26 Date: 12/31/1996 Perf: $2,567.77 Date: 11/30/1996 Perf: $2,619.64 Date: 10/31/1996 Perf: $2,435.52 Date: 9/30/1996 Perf: $2,370.10 Date: 8/31/1996 Perf: $2,243.78 Date: 7/31/1996 Perf: $2,197.41 Date: 6/30/1996 Perf: $2,299.03 Date: 5/31/1996 Perf: $2,290.33 Date: 4/30/1996 Perf: $2,232.72 Date: 3/31/1996 Perf: $2,200.38 Date: 2/29/1996 Perf: $2,179.45 Date: 1/31/1996 Perf: $2,159.37 Date: 12/31/1995 Perf: $2,088.37 Date: 11/30/1995 Perf: $2,048.83 Date: 10/31/1995 Perf: $1,962.66 Date: 9/30/1995 Perf: $1,969.76 Date: 8/31/1995 Perf: $1,890.00 Date: 7/31/1995 Perf: $1,885.28 Date: 6/30/1995 Perf: $1,824.70 Date: 5/31/1995 Perf: $1,783.33 Date: 4/30/1995 Perf: $1,714.74 Date: 3/31/1995 Perf: $1,665.77 Date: 2/28/1995 Perf: $1,618.04 Date: 1/31/1995 Perf: $1,557.30 Date: 12/31/1994 Perf: $1,517.99 Date: 11/30/1994 Perf: $1,495.85 Date: 10/31/1994 Perf: $1,552.35 Date: 9/30/1994 Perf: $1,518.19 Date: 8/31/1994 Perf: $1,556.32 Date: 7/31/1994 Perf: $1,495.03 Date: 6/30/1994 Perf: $1,447.55 Date: 5/31/1994 Perf: $1,483.90 Date: 4/30/1994 Perf: $1,459.96 Date: 3/31/1994 Perf: $1,441.51 Date: 2/28/1994 Perf: $1,507.22 Date: 1/31/1994 Perf: $1,549.21 Date: 12/31/1993 Perf: $1,498.27 Date: 11/30/1993 Perf: $1,480.35 Date: 10/31/1993 Perf: $1,494.55 Date: 9/30/1993 Perf: $1,464.24 Date: 8/31/1993 Perf: $1,475.60 Date: 7/31/1993 Perf: $1,421.72 Date: 6/30/1993 Perf: $1,427.43 Date: 5/31/1993 Perf: $1,423.30 Date: 4/30/1993 Perf: $1,386.15 Date: 3/31/1993 Perf: $1,420.53 Date: 2/28/1993 Perf: $1,391.18 Date: 1/31/1993 Perf: $1,372.51 Date: 12/31/1992 Perf: $1,361.08 Date: 11/30/1992 Perf: $1,344.54 Date: 10/31/1992 Perf: $1,300.20 Date: 9/30/1992 Perf: $1,295.67 Date: 8/31/1992 Perf: $1,280.56 Date: 7/31/1992 Perf: $1,307.36 Date: 6/30/1992 Perf: $1,255.99 Date: 5/31/1992 Perf: $1,274.99 Date: 4/30/1992 Perf: $1,268.77 Date: 3/31/1992 Perf: $1,232.53 Date: 2/29/1992 Perf: $1,256.92 Date: 1/31/1992 Perf: $1,240.79 Date: 12/31/1991 Perf: $1,264.30 Date: 11/30/1991 Perf: $1,134.51 Date: 10/31/1991 Perf: $1,182.15 Date: 9/30/1991 Perf: $1,166.52 Date: 8/31/1991 Perf: $1,186.34 Date: 7/31/1991 Perf: $1,158.87 Date: 6/30/1991 Perf: $1,107.27 Date: 5/31/1991 Perf: $1,160.42 Date: 4/30/1991 Perf: $1,112.47 Date: 3/31/1991 Perf: $1,109.81 Date: 2/28/1991 Perf: $1,083.58 Date: 1/31/1991 Perf: $1,011.28 Date: 12/31/1990 Perf: $969.03 Date: 11/30/1990 Perf: $942.73 Date: 10/31/1990 Perf: $885.52 Date: 9/30/1990 Perf: $889.35 Date: 8/31/1990 Perf: $934.87 Date: 7/31/1990 Perf: $1,027.79 Date: 6/30/1990 Perf: $1,031.09 Date: 5/31/1990 Perf: $1,038.04 Date: 4/30/1990 Perf: $945.82 Date: 3/31/1990 Perf: $969.98 Date: 2/28/1990 Perf: $944.93 Date: 1/31/1990 Perf: $932.90 Date: 12/31/1989 Perf: $1,000.00 Date: 2/28/2023 Perf: $19,973.21 Date: 1/31/2023 Perf: $19,695.51 Date: 12/31/2022 Perf: $19,938.76 Date: 11/30/2022 Perf: $19,916.85 Date: 10/31/2022 Perf: $22,034.35 Date: 9/30/2022 Perf: $22,091.79 Date: 8/31/2022 Perf: $19,816.82 Date: 7/31/2022 Perf: $19,327.83 Date: 6/30/2022 Perf: $20,691.39 Date: 5/31/2022 Perf: $20,389.62 Date: 4/30/2022 Perf: $20,733.80 Date: 3/31/2022 Perf: $20,073.39 Date: 2/28/2022 Perf: $18,412.57 Date: 1/31/2022 Perf: $17,584.35 Date: 12/31/2021 Perf: $16,310.50 Date: 11/30/2021 Perf: $16,560.57 Date: 10/31/2021 Perf: $16,988.68 Date: 9/30/2021 Perf: $15,907.00 Date: 8/31/2021 Perf: $14,574.86 Date: 7/31/2021 Perf: $14,670.22 Date: 6/30/2021 Perf: $14,755.80 Date: 5/31/2021 Perf: $15,322.74 Date: 4/30/2021 Perf: $14,938.82 Date: 3/31/2021 Perf: $14,320.18 Date: 2/28/2021 Perf: $14,612.43 Date: 1/31/2021 Perf: $13,119.44 Date: 12/31/2020 Perf: $13,164.20 Date: 11/30/2020 Perf: $11,838.31 Date: 10/31/2020 Perf: $11,915.76 Date: 9/30/2020 Perf: $11,772.14 Date: 8/31/2020 Perf: $12,482.39 Date: 7/31/2020 Perf: $12,395.62 Date: 6/30/2020 Perf: $12,115.75 Date: 5/31/2020 Perf: $12,315.25 Date: 4/30/2020 Perf: $12,289.44 Date: 3/31/2020 Perf: $12,399.80 Date: 2/29/2020 Perf: $10,814.41 Date: 1/31/2020 Perf: $10,339.81 Date: 12/31/2019 Perf: $10,592.99 Date: 11/30/2019 Perf: $10,257.56 Date: 10/31/2019 Perf: $10,099.01 Date: 9/30/2019 Perf: $10,401.70 Date: 8/31/2019 Perf: $11,161.82 Date: 7/31/2019 Perf: $10,141.58 Date: 6/30/2019 Perf: $9,971.07 Date: 5/31/2019 Perf: $10,152.81 Date: 4/30/2019 Perf: $9,559.18 Date: 3/31/2019 Perf: $9,429.99 Date: 2/28/2019 Perf: $9,090.02 Date: 1/31/2019 Perf: $9,114.63 Date: 12/31/2018 Perf: $9,677.88 Date: 11/30/2018 Perf: $9,525.48 Date: 10/31/2018 Perf: $9,442.38 Date: 9/30/2018 Perf: $9,880.07 Date: 8/31/2018 Perf: $9,977.85 Date: 7/31/2018 Perf: $9,800.47 Date: 6/30/2018 Perf: $9,873.53 Date: 5/31/2018 Perf: $9,991.43 Date: 4/30/2018 Perf: $10,270.79 Date: 3/31/2018 Perf: $10,262.58 Date: 2/28/2018 Perf: $10,433.70 Date: 1/31/2018 Perf: $11,073.76 Date: 12/31/2017 Perf: $9,844.22 Date: 11/30/2017 Perf: $9,553.78 Date: 10/31/2017 Perf: $9,596.97 Date: 9/30/2017 Perf: $9,033.29 Date: 8/31/2017 Perf: $9,678.87 Date: 7/31/2017 Perf: $9,568.83 Date: 6/30/2017 Perf: $9,486.30 Date: 5/31/2017 Perf: $9,936.42 Date: 4/30/2017 Perf: $9,741.59 Date: 3/31/2017 Perf: $9,704.71 Date: 2/28/2017 Perf: $10,369.39 Date: 1/31/2017 Perf: $9,904.85 Date: 12/31/2016 Perf: $9,987.75 Date: 11/30/2016 Perf: $10,078.45 Date: 10/31/2016 Perf: $10,342.18 Date: 9/30/2016 Perf: $10,872.77 Date: 8/31/2016 Perf: $11,021.56 Date: 7/31/2016 Perf: $11,653.16 Date: 6/30/2016 Perf: $11,442.62 Date: 5/31/2016 Perf: $11,201.78 Date: 4/30/2016 Perf: $11,469.01 Date: 3/31/2016 Perf: $12,299.21 Date: 2/29/2016 Perf: $13,217.85 Date: 1/31/2016 Perf: $12,586.03 Date: 12/31/2015 Perf: $11,590.41 Date: 11/30/2015 Perf: $11,979.75 Date: 10/31/2015 Perf: $11,620.67 Date: 9/30/2015 Perf: $12,057.14 Date: 8/31/2015 Perf: $11,604.57 Date: 7/31/2015 Perf: $11,920.46 Date: 6/30/2015 Perf: $11,389.70 Date: 5/31/2015 Perf: $11,936.38 Date: 4/30/2015 Perf: $11,852.23 Date: 3/31/2015 Perf: $11,841.58 Date: 2/28/2015 Perf: $11,779.15 Date: 1/31/2015 Perf: $11,963.38 Date: 12/31/2014 Perf: $11,570.00 Date: 11/30/2014 Perf: $11,243.93 Date: 10/31/2014 Perf: $10,660.78 Date: 9/30/2014 Perf: $10,590.88 Date: 8/31/2014 Perf: $9,836.43 Date: 7/31/2014 Perf: $9,396.67 Date: 6/30/2014 Perf: $8,755.74 Date: 5/31/2014 Perf: $8,617.86 Date: 4/30/2014 Perf: $8,555.40 Date: 3/31/2014 Perf: $8,520.47 Date: 2/28/2014 Perf: $8,806.69 Date: 1/31/2014 Perf: $9,000.19 Date: 12/31/2013 Perf: $9,283.33 Date: 11/30/2013 Perf: $9,571.43 Date: 10/31/2013 Perf: $9,212.16 Date: 9/30/2013 Perf: $8,976.96 Date: 8/31/2013 Perf: $9,380.32 Date: 7/31/2013 Perf: $9,593.29 Date: 6/30/2013 Perf: $9,988.85 Date: 5/31/2013 Perf: $10,136.84 Date: 4/30/2013 Perf: $10,730.23 Date: 3/31/2013 Perf: $10,494.11 Date: 2/28/2013 Perf: $10,216.23 Date: 1/31/2013 Perf: $10,594.45 Date: 12/31/2012 Perf: $10,018.39 Date: 11/30/2012 Perf: $9,904.49 Date: 10/31/2012 Perf: $10,006.56 Date: 9/30/2012 Perf: $10,576.64 Date: 8/31/2012 Perf: $10,708.35 Date: 7/31/2012 Perf: $11,010.02 Date: 6/30/2012 Perf: $10,976.00 Date: 5/31/2012 Perf: $11,722.74 Date: 4/30/2012 Perf: $9,843.60 Date: 3/31/2012 Perf: $9,785.86 Date: 2/29/2012 Perf: $10,129.24 Date: 1/31/2012 Perf: $9,528.92 Date: 12/31/2011 Perf: $9,440.18 Date: 11/30/2011 Perf: $9,579.08 Date: 10/31/2011 Perf: $9,379.30 Date: 9/30/2011 Perf: $10,311.45 Date: 8/31/2011 Perf: $9,972.39 Date: 7/31/2011 Perf: $10,180.07 Date: 6/30/2011 Perf: $9,530.11 Date: 5/31/2011 Perf: $10,058.17 Date: 4/30/2011 Perf: $11,154.67 Date: 3/31/2011 Perf: $10,518.31 Date: 2/28/2011 Perf: $10,981.74 Date: 1/31/2011 Perf: $10,649.48 Date: 12/31/2010 Perf: $10,578.60 Date: 11/30/2010 Perf: $10,004.35 Date: 10/31/2010 Perf: $10,024.40 Date: 9/30/2010 Perf: $9,382.63 Date: 8/31/2010 Perf: $8,830.71 Date: 7/31/2010 Perf: $8,764.10 Date: 6/30/2010 Perf: $8,817.89 Date: 5/31/2010 Perf: $8,969.47 Date: 4/30/2010 Perf: $9,308.30 Date: 3/31/2010 Perf: $9,263.83 Date: 2/28/2010 Perf: $8,737.81 Date: 1/31/2010 Perf: $8,833.21 Date: 12/31/2009 Perf: $9,926.07 Date: 11/30/2009 Perf: $10,127.61 Date: 10/31/2009 Perf: $9,749.34 Date: 9/30/2009 Perf: $9,939.18 Date: 8/31/2009 Perf: $9,905.50 Date: 7/31/2009 Perf: $9,660.13 Date: 6/30/2009 Perf: $9,782.41 Date: 5/31/2009 Perf: $10,407.93 Date: 4/30/2009 Perf: $10,356.15 Date: 3/31/2009 Perf: $10,639.15 Date: 2/28/2009 Perf: $11,397.05 Date: 1/31/2009 Perf: $11,350.51 Date: 12/31/2008 Perf: $11,576.25 Date: 11/30/2008 Perf: $11,524.39 Date: 10/31/2008 Perf: $11,211.59 Date: 9/30/2008 Perf: $10,020.19 Date: 8/31/2008 Perf: $9,470.88 Date: 7/31/2008 Perf: $9,358.57 Date: 6/30/2008 Perf: $9,961.23 Date: 5/31/2008 Perf: $9,455.37 Date: 4/30/2008 Perf: $9,295.48 Date: 3/31/2008 Perf: $9,280.64 Date: 2/29/2008 Perf: $9,412.41 Date: 1/31/2008 Perf: $8,191.83 Date: 12/31/2007 Perf: $7,914.81 Date: 11/30/2007 Perf: $7,813.24 Date: 10/31/2007 Perf: $7,839.11 Date: 9/30/2007 Perf: $7,352.38 Date: 8/31/2007 Perf: $6,660.97 Date: 7/31/2007 Perf: $6,732.33 Date: 6/30/2007 Perf: $7,266.41 Date: 5/31/2007 Perf: $6,937.57 Date: 4/30/2007 Perf: $6,694.56 Date: 3/31/2007 Perf: $6,422.26 Date: 2/28/2007 Perf: $6,637.99 Date: 1/31/2007 Perf: $7,003.58 Date: 12/31/2006 Perf: $6,749.14 Date: 11/30/2006 Perf: $6,745.76 Date: 10/31/2006 Perf: $6,655.91 Date: 9/30/2006 Perf: $6,608.98 Date: 8/31/2006 Perf: $6,745.93 Date: 7/31/2006 Perf: $6,658.70 Date: 6/30/2006 Perf: $6,947.00 Date: 5/31/2006 Perf: $7,117.10 Date: 4/30/2006 Perf: $7,030.62 Date: 3/31/2006 Perf: $6,057.75 Date: 2/28/2006 Perf: $5,631.45 Date: 1/31/2006 Perf: $5,981.35 Date: 12/31/2005 Perf: $5,718.86 Date: 11/30/2005 Perf: $5,742.40 Date: 10/31/2005 Perf: $5,307.70 Date: 9/30/2005 Perf: $5,743.02 Date: 8/31/2005 Perf: $5,516.83 Date: 7/31/2005 Perf: $5,321.53 Date: 6/30/2005 Perf: $5,310.91 Date: 5/31/2005 Perf: $5,205.75 Date: 4/30/2005 Perf: $5,019.53 Date: 3/31/2005 Perf: $5,230.31 Date: 2/28/2005 Perf: $5,326.18 Date: 1/31/2005 Perf: $4,963.82 Date: 12/31/2004 Perf: $5,226.18 Date: 11/30/2004 Perf: $5,433.75 Date: 10/31/2004 Perf: $4,918.75 Date: 9/30/2004 Perf: $4,746.92 Date: 8/31/2004 Perf: $4,821.16 Date: 7/31/2004 Perf: $4,817.79 Date: 6/30/2004 Perf: $5,007.58 Date: 5/31/2004 Perf: $5,273.35 Date: 4/30/2004 Perf: $5,586.77 Date: 3/31/2004 Perf: $6,386.34 Date: 2/29/2004 Perf: $6,526.00 Date: 1/31/2004 Perf: $5,953.83 Date: 12/31/2003 Perf: $6,021.88 Date: 11/30/2003 Perf: $5,545.01 Date: 10/31/2003 Perf: $5,698.88 Date: 9/30/2003 Perf: $5,316.12 Date: 8/31/2003 Perf: $5,181.40 Date: 7/31/2003 Perf: $5,181.40 Date: 6/30/2003 Perf: $5,059.96 Date: 5/31/2003 Perf: $5,173.79 Date: 4/30/2003 Perf: $4,578.57 Date: 3/31/2003 Perf: $4,528.76 Date: 2/28/2003 Perf: $5,181.64 Date: 1/31/2003 Perf: $4,693.52 Date: 12/31/2002 Perf: $4,466.19 Date: 11/30/2002 Perf: $4,340.32 Date: 10/31/2002 Perf: $4,588.08 Date: 9/30/2002 Perf: $5,207.80 Date: 8/31/2002 Perf: $5,012.32 Date: 7/31/2002 Perf: $5,078.86 Date: 6/30/2002 Perf: $4,809.52 Date: 5/31/2002 Perf: $4,230.01 Date: 4/30/2002 Perf: $3,971.84 Date: 3/31/2002 Perf: $4,141.65 Date: 2/28/2002 Perf: $3,933.19 Date: 1/31/2002 Perf: $4,360.52 Date: 12/31/2001 Perf: $4,575.57 Date: 11/30/2001 Perf: $4,654.70 Date: 10/31/2001 Perf: $5,154.71 Date: 9/30/2001 Perf: $5,170.22 Date: 8/31/2001 Perf: $4,575.42 Date: 7/31/2001 Perf: $4,308.30 Date: 6/30/2001 Perf: $4,382.81 Date: 5/31/2001 Perf: $4,391.59 Date: 4/30/2001 Perf: $4,422.55 Date: 3/31/2001 Perf: $4,745.23 Date: 2/28/2001 Perf: $4,055.75 Date: 1/31/2001 Perf: $3,984.04 Date: 12/31/2000 Perf: $3,996.02 Date: 11/30/2000 Perf: $3,666.08 Date: 10/31/2000 Perf: $3,419.85 Date: 9/30/2000 Perf: $3,329.94 Date: 8/31/2000 Perf: $3,538.72 Date: 7/31/2000 Perf: $3,383.10 Date: 6/30/2000 Perf: $3,480.56 Date: 5/31/2000 Perf: $3,652.21 Date: 4/30/2000 Perf: $3,356.81 Date: 3/31/2000 Perf: $3,383.88 Date: 2/29/2000 Perf: $3,470.65 Date: 1/31/2000 Perf: $3,372.84 Date: 12/31/1999 Perf: $3,396.61 Date: 11/30/1999 Perf: $3,326.75 Date: 10/31/1999 Perf: $3,258.33 Date: 9/30/1999 Perf: $3,978.42 Date: 8/31/1999 Perf: $3,700.86 Date: 7/31/1999 Perf: $3,730.70 Date: 6/30/1999 Perf: $3,981.54 Date: 5/31/1999 Perf: $4,025.82 Date: 4/30/1999 Perf: $4,206.71 Date: 3/31/1999 Perf: $4,006.39 Date: 2/28/1999 Perf: $4,262.12 Date: 1/31/1999 Perf: $3,633.52 Date: 12/31/1998 Perf: $3,816.72 Date: 11/30/1998 Perf: $3,712.77 Date: 10/31/1998 Perf: $3,827.59 Date: 9/30/1998 Perf: $4,196.92 Date: 8/31/1998 Perf: $3,882.44 Date: 7/31/1998 Perf: $2,923.53 Date: 6/30/1998 Perf: $3,035.85 Date: 5/31/1998 Perf: $3,236.52 Date: 4/30/1998 Perf: $3,256.05 Date: 3/31/1998 Perf: $3,638.05 Date: 2/28/1998 Perf: $3,781.76 Date: 1/31/1998 Perf: $3,660.95 Date: 12/31/1997 Perf: $3,671.96 Date: 11/30/1997 Perf: $3,467.39 Date: 10/31/1997 Perf: $3,433.05 Date: 9/30/1997 Perf: $3,679.59 Date: 8/31/1997 Perf: $3,690.66 Date: 7/31/1997 Perf: $3,856.49 Date: 6/30/1997 Perf: $3,587.43 Date: 5/31/1997 Perf: $3,551.91 Date: 4/30/1997 Perf: $3,509.79 Date: 3/31/1997 Perf: $3,831.65 Date: 2/28/1997 Perf: $3,687.83 Date: 1/31/1997 Perf: $3,392.67 Date: 12/31/1996 Perf: $3,212.75 Date: 11/30/1996 Perf: $3,518.90 Date: 10/31/1996 Perf: $3,210.67 Date: 9/30/1996 Perf: $2,700.31 Date: 8/31/1996 Perf: $2,621.66 Date: 7/31/1996 Perf: $2,697.18 Date: 6/30/1996 Perf: $2,657.32 Date: 5/31/1996 Perf: $2,552.66 Date: 4/30/1996 Perf: $2,712.71 Date: 3/31/1996 Perf: $2,620.98 Date: 2/29/1996 Perf: $2,663.60 Date: 1/31/1996 Perf: $3,189.94 Date: 12/31/1995 Perf: $3,285.21 Date: 11/30/1995 Perf: $2,803.08 Date: 10/31/1995 Perf: $2,780.83 Date: 9/30/1995 Perf: $2,930.28 Date: 8/31/1995 Perf: $3,245.05 Date: 7/31/1995 Perf: $3,729.94 Date: 6/30/1995 Perf: $4,621.98 Date: 5/31/1995 Perf: $4,654.56 Date: 4/30/1995 Perf: $3,790.36 Date: 3/31/1995 Perf: $3,247.95 Date: 2/28/1995 Perf: $2,677.62 Date: 1/31/1995 Perf: $2,486.18 Date: 12/31/1994 Perf: $2,699.44 Date: 11/30/1994 Perf: $2,704.85 Date: 10/31/1994 Perf: $2,364.38 Date: 9/30/1994 Perf: $2,659.59 Date: 8/31/1994 Perf: $2,691.90 Date: 7/31/1994 Perf: $2,900.75 Date: 6/30/1994 Perf: $3,112.39 Date: 5/31/1994 Perf: $3,150.19 Date: 4/30/1994 Perf: $2,815.19 Date: 3/31/1994 Perf: $2,855.16 Date: 2/28/1994 Perf: $2,549.25 Date: 1/31/1994 Perf: $2,877.26 Date: 12/31/1993 Perf: $3,307.19 Date: 11/30/1993 Perf: $3,056.55 Date: 10/31/1993 Perf: $3,131.72 Date: 9/30/1993 Perf: $3,192.37 Date: 8/31/1993 Perf: $3,280.96 Date: 7/31/1993 Perf: $2,996.31 Date: 6/30/1993 Perf: $2,455.99 Date: 5/31/1993 Perf: $2,493.39 Date: 4/30/1993 Perf: $2,638.51 Date: 3/31/1993 Perf: $2,394.29 Date: 2/28/1993 Perf: $2,324.55 Date: 1/31/1993 Perf: $2,142.45 Date: 12/31/1992 Perf: $2,004.16 Date: 11/30/1992 Perf: $2,094.21 Date: 10/31/1992 Perf: $2,077.59 Date: 9/30/1992 Perf: $2,100.70 Date: 8/31/1992 Perf: $2,389.87 Date: 7/31/1992 Perf: $2,361.53 Date: 6/30/1992 Perf: $2,158.62 Date: 5/31/1992 Perf: $2,048.03 Date: 4/30/1992 Perf: $2,128.93 Date: 3/31/1992 Perf: $2,236.27 Date: 2/29/1992 Perf: $2,371.44 Date: 1/31/1992 Perf: $2,517.45 Date: 12/31/1991 Perf: $2,968.70 Date: 11/30/1991 Perf: $2,053.04 Date: 10/31/1991 Perf: $2,107.84 Date: 9/30/1991 Perf: $2,168.56 Date: 8/31/1991 Perf: $1,912.31 Date: 7/31/1991 Perf: $1,947.37 Date: 6/30/1991 Perf: $2,195.45 Date: 5/31/1991 Perf: $2,171.56 Date: 4/30/1991 Perf: $2,243.35 Date: 3/31/1991 Perf: $2,356.46 Date: 2/28/1991 Perf: $2,351.76 Date: 1/31/1991 Perf: $2,666.39 Date: 12/31/1990 Perf: $2,876.37 Date: 11/30/1990 Perf: $2,935.07 Date: 10/31/1990 Perf: $2,929.21 Date: 9/30/1990 Perf: $2,846.66 Date: 8/31/1990 Perf: $2,602.06 Date: 7/31/1990 Perf: $2,229.70 Date: 6/30/1990 Perf: $1,999.73 Date: 5/31/1990 Perf: $1,694.69 Date: 4/30/1990 Perf: $2,015.09 Date: 3/31/1990 Perf: $1,443.47 Date: 2/28/1990 Perf: $1,058.27 Date: 1/31/1990 Perf: $1,053.00 Date: 12/31/1989 Perf: $1,000.00

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Monthly Returns

Date Range: 12/89 - 01/23
Date: 2/28/2023 Return: 1.41 % Date: 1/31/2023 Return: -1.22 % Date: 12/31/2022 Return: 0.11 % Date: 11/30/2022 Return: -9.61 % Date: 10/31/2022 Return: -0.26 % Date: 9/30/2022 Return: 11.48 % Date: 8/31/2022 Return: 2.53 % Date: 7/31/2022 Return: -6.59 % Date: 6/30/2022 Return: 1.48 % Date: 5/31/2022 Return: -1.66 % Date: 4/30/2022 Return: 3.29 % Date: 3/31/2022 Return: 9.02 % Date: 2/28/2022 Return: 4.71 % Date: 1/31/2022 Return: 7.81 % Date: 12/31/2021 Return: -1.51 % Date: 11/30/2021 Return: -2.52 % Date: 10/31/2021 Return: 6.80 % Date: 9/30/2021 Return: 9.14 % Date: 8/31/2021 Return: -0.65 % Date: 7/31/2021 Return: -0.58 % Date: 6/30/2021 Return: -3.70 % Date: 5/31/2021 Return: 2.57 % Date: 4/30/2021 Return: 4.32 % Date: 3/31/2021 Return: -2.00 % Date: 2/28/2021 Return: 11.38 % Date: 1/31/2021 Return: -0.34 % Date: 12/31/2020 Return: 11.20 % Date: 11/30/2020 Return: -0.65 % Date: 10/31/2020 Return: 1.22 % Date: 9/30/2020 Return: -5.69 % Date: 8/31/2020 Return: 0.70 % Date: 7/31/2020 Return: 2.31 % Date: 6/30/2020 Return: -1.62 % Date: 5/31/2020 Return: 0.21 % Date: 4/30/2020 Return: -0.89 % Date: 3/31/2020 Return: 14.66 % Date: 2/29/2020 Return: 4.59 % Date: 1/31/2020 Return: -2.39 % Date: 12/31/2019 Return: 3.27 % Date: 11/30/2019 Return: 1.57 % Date: 10/31/2019 Return: -2.91 % Date: 9/30/2019 Return: -6.81 % Date: 8/31/2019 Return: 10.06 % Date: 7/31/2019 Return: 1.71 % Date: 6/30/2019 Return: -1.79 % Date: 5/31/2019 Return: 6.21 % Date: 4/30/2019 Return: 1.37 % Date: 3/31/2019 Return: 3.74 % Date: 2/28/2019 Return: -0.27 % Date: 1/31/2019 Return: -5.82 % Date: 12/31/2018 Return: 1.60 % Date: 11/30/2018 Return: 0.88 % Date: 10/31/2018 Return: -4.43 % Date: 9/30/2018 Return: -0.98 % Date: 8/31/2018 Return: 1.81 % Date: 7/31/2018 Return: -0.74 % Date: 6/30/2018 Return: -1.18 % Date: 5/31/2018 Return: -2.72 % Date: 4/30/2018 Return: 0.08 % Date: 3/31/2018 Return: -1.64 % Date: 2/28/2018 Return: -5.78 % Date: 1/31/2018 Return: 12.49 % Date: 12/31/2017 Return: 3.04 % Date: 11/30/2017 Return: -0.45 % Date: 10/31/2017 Return: 6.24 % Date: 9/30/2017 Return: -6.67 % Date: 8/31/2017 Return: 1.15 % Date: 7/31/2017 Return: 0.87 % Date: 6/30/2017 Return: -4.53 % Date: 5/31/2017 Return: 2.00 % Date: 4/30/2017 Return: 0.38 % Date: 3/31/2017 Return: -6.41 % Date: 2/28/2017 Return: 4.69 % Date: 1/31/2017 Return: -0.83 % Date: 12/31/2016 Return: -0.90 % Date: 11/30/2016 Return: -2.55 % Date: 10/31/2016 Return: -4.88 % Date: 9/30/2016 Return: -1.35 % Date: 8/31/2016 Return: -5.42 % Date: 7/31/2016 Return: 1.84 % Date: 6/30/2016 Return: 2.15 % Date: 5/31/2016 Return: -2.33 % Date: 4/30/2016 Return: -6.75 % Date: 3/31/2016 Return: -6.95 % Date: 2/29/2016 Return: 5.02 % Date: 1/31/2016 Return: 8.59 % Date: 12/31/2015 Return: -3.25 % Date: 11/30/2015 Return: 3.09 % Date: 10/31/2015 Return: -3.62 % Date: 9/30/2015 Return: 3.90 % Date: 8/31/2015 Return: -2.65 % Date: 7/31/2015 Return: 4.66 % Date: 6/30/2015 Return: -4.58 % Date: 5/31/2015 Return: 0.71 % Date: 4/30/2015 Return: 0.09 % Date: 3/31/2015 Return: 0.53 % Date: 2/28/2015 Return: -1.54 % Date: 1/31/2015 Return: 3.40 % Date: 12/31/2014 Return: 2.90 % Date: 11/30/2014 Return: 5.47 % Date: 10/31/2014 Return: 0.66 % Date: 9/30/2014 Return: 7.67 % Date: 8/31/2014 Return: 4.68 % Date: 7/31/2014 Return: 7.32 % Date: 6/30/2014 Return: 1.60 % Date: 5/31/2014 Return: 0.73 % Date: 4/30/2014 Return: 0.41 % Date: 3/31/2014 Return: -3.25 % Date: 2/28/2014 Return: -2.15 % Date: 1/31/2014 Return: -3.05 % Date: 12/31/2013 Return: -3.01 % Date: 11/30/2013 Return: 3.90 % Date: 10/31/2013 Return: 2.62 % Date: 9/30/2013 Return: -4.30 % Date: 8/31/2013 Return: -2.22 % Date: 7/31/2013 Return: -3.96 % Date: 6/30/2013 Return: -1.46 % Date: 5/31/2013 Return: -5.53 % Date: 4/30/2013 Return: 2.25 % Date: 3/31/2013 Return: 2.72 % Date: 2/28/2013 Return: -3.57 % Date: 1/31/2013 Return: 5.75 % Date: 12/31/2012 Return: 1.15 % Date: 11/30/2012 Return: -1.02 % Date: 10/31/2012 Return: -5.39 % Date: 9/30/2012 Return: -1.23 % Date: 8/31/2012 Return: -2.74 % Date: 7/31/2012 Return: 0.31 % Date: 6/30/2012 Return: -6.37 % Date: 5/31/2012 Return: 19.09 % Date: 4/30/2012 Return: 0.59 % Date: 3/31/2012 Return: -3.39 % Date: 2/29/2012 Return: 6.30 % Date: 1/31/2012 Return: 0.94 % Date: 12/31/2011 Return: -1.45 % Date: 11/30/2011 Return: 2.13 % Date: 10/31/2011 Return: -9.04 % Date: 9/30/2011 Return: 3.40 % Date: 8/31/2011 Return: -2.04 % Date: 7/31/2011 Return: 6.82 % Date: 6/30/2011 Return: -5.25 % Date: 5/31/2011 Return: -9.83 % Date: 4/30/2011 Return: 6.05 % Date: 3/31/2011 Return: -4.22 % Date: 2/28/2011 Return: 3.12 % Date: 1/31/2011 Return: 0.67 % Date: 12/31/2010 Return: 5.74 % Date: 11/30/2010 Return: -0.20 % Date: 10/31/2010 Return: 6.84 % Date: 9/30/2010 Return: 6.25 % Date: 8/31/2010 Return: 0.76 % Date: 7/31/2010 Return: -0.61 % Date: 6/30/2010 Return: -1.69 % Date: 5/31/2010 Return: -3.64 % Date: 4/30/2010 Return: 0.48 % Date: 3/31/2010 Return: 6.02 % Date: 2/28/2010 Return: -1.08 % Date: 1/31/2010 Return: -11.01 % Date: 12/31/2009 Return: -1.99 % Date: 11/30/2009 Return: 3.88 % Date: 10/31/2009 Return: -1.91 % Date: 9/30/2009 Return: 0.34 % Date: 8/31/2009 Return: 2.54 % Date: 7/31/2009 Return: -1.25 % Date: 6/30/2009 Return: -6.01 % Date: 5/31/2009 Return: 0.50 % Date: 4/30/2009 Return: -2.66 % Date: 3/31/2009 Return: -6.65 % Date: 2/28/2009 Return: 0.41 % Date: 1/31/2009 Return: -1.95 % Date: 12/31/2008 Return: 0.45 % Date: 11/30/2008 Return: 2.79 % Date: 10/31/2008 Return: 11.89 % Date: 9/30/2008 Return: 5.80 % Date: 8/31/2008 Return: 1.20 % Date: 7/31/2008 Return: -6.05 % Date: 6/30/2008 Return: 5.35 % Date: 5/31/2008 Return: 1.72 % Date: 4/30/2008 Return: 0.16 % Date: 3/31/2008 Return: -1.40 % Date: 2/29/2008 Return: 14.90 % Date: 1/31/2008 Return: 3.50 % Date: 12/31/2007 Return: 1.30 % Date: 11/30/2007 Return: -0.33 % Date: 10/31/2007 Return: 6.62 % Date: 9/30/2007 Return: 10.38 % Date: 8/31/2007 Return: -1.06 % Date: 7/31/2007 Return: -7.35 % Date: 6/30/2007 Return: 4.74 % Date: 5/31/2007 Return: 3.63 % Date: 4/30/2007 Return: 4.24 % Date: 3/31/2007 Return: -3.25 % Date: 2/28/2007 Return: -5.22 % Date: 1/31/2007 Return: 3.77 % Date: 12/31/2006 Return: 0.05 % Date: 11/30/2006 Return: 1.35 % Date: 10/31/2006 Return: 0.71 % Date: 9/30/2006 Return: -2.03 % Date: 8/31/2006 Return: 1.31 % Date: 7/31/2006 Return: -4.15 % Date: 6/30/2006 Return: -2.39 % Date: 5/31/2006 Return: 1.23 % Date: 4/30/2006 Return: 16.06 % Date: 3/31/2006 Return: 7.57 % Date: 2/28/2006 Return: -5.85 % Date: 1/31/2006 Return: 4.59 % Date: 12/31/2005 Return: -0.41 % Date: 11/30/2005 Return: 8.19 % Date: 10/31/2005 Return: -7.58 % Date: 9/30/2005 Return: 4.10 % Date: 8/31/2005 Return: 3.67 % Date: 7/31/2005 Return: 0.20 % Date: 6/30/2005 Return: 2.02 % Date: 5/31/2005 Return: 3.71 % Date: 4/30/2005 Return: -4.03 % Date: 3/31/2005 Return: -1.80 % Date: 2/28/2005 Return: 7.30 % Date: 1/31/2005 Return: -5.02 % Date: 12/31/2004 Return: -3.82 % Date: 11/30/2004 Return: 10.47 % Date: 10/31/2004 Return: 3.62 % Date: 9/30/2004 Return: -1.54 % Date: 8/31/2004 Return: 0.07 % Date: 7/31/2004 Return: -3.79 % Date: 6/30/2004 Return: -5.04 % Date: 5/31/2004 Return: -5.61 % Date: 4/30/2004 Return: -12.52 % Date: 3/31/2004 Return: -2.14 % Date: 2/29/2004 Return: 9.61 % Date: 1/31/2004 Return: -1.13 % Date: 12/31/2003 Return: 8.60 % Date: 11/30/2003 Return: -2.70 % Date: 10/31/2003 Return: 7.20 % Date: 9/30/2003 Return: 2.60 % Date: 8/31/2003 Return: 0.00 % Date: 7/31/2003 Return: 2.40 % Date: 6/30/2003 Return: -2.20 % Date: 5/31/2003 Return: 13.00 % Date: 4/30/2003 Return: 1.10 % Date: 3/31/2003 Return: -12.60 % Date: 2/28/2003 Return: 10.40 % Date: 1/31/2003 Return: 5.09 % Date: 12/31/2002 Return: 2.90 % Date: 11/30/2002 Return: -5.40 % Date: 10/31/2002 Return: -11.90 % Date: 9/30/2002 Return: 3.90 % Date: 8/31/2002 Return: -1.31 % Date: 7/31/2002 Return: 5.60 % Date: 6/30/2002 Return: 13.70 % Date: 5/31/2002 Return: 6.50 % Date: 4/30/2002 Return: -4.10 % Date: 3/31/2002 Return: 5.30 % Date: 2/28/2002 Return: -9.80 % Date: 1/31/2002 Return: -4.70 % Date: 12/31/2001 Return: -1.70 % Date: 11/30/2001 Return: -9.70 % Date: 10/31/2001 Return: -0.30 % Date: 9/30/2001 Return: 13.00 % Date: 8/31/2001 Return: 6.20 % Date: 7/31/2001 Return: -1.70 % Date: 6/30/2001 Return: -0.20 % Date: 5/31/2001 Return: -0.70 % Date: 4/30/2001 Return: -6.80 % Date: 3/31/2001 Return: 17.00 % Date: 2/28/2001 Return: 1.80 % Date: 1/31/2001 Return: -0.30 % Date: 12/31/2000 Return: 9.00 % Date: 11/30/2000 Return: 7.20 % Date: 10/31/2000 Return: 2.70 % Date: 9/30/2000 Return: -5.90 % Date: 8/31/2000 Return: 4.60 % Date: 7/31/2000 Return: -2.80 % Date: 6/30/2000 Return: -4.70 % Date: 5/31/2000 Return: 8.80 % Date: 4/30/2000 Return: -0.80 % Date: 3/31/2000 Return: -2.50 % Date: 2/29/2000 Return: 2.90 % Date: 1/31/2000 Return: -0.70 % Date: 12/31/1999 Return: 2.10 % Date: 11/30/1999 Return: 2.10 % Date: 10/31/1999 Return: -18.10 % Date: 9/30/1999 Return: 7.50 % Date: 8/31/1999 Return: -0.80 % Date: 7/31/1999 Return: -6.30 % Date: 6/30/1999 Return: -1.10 % Date: 5/31/1999 Return: -4.30 % Date: 4/30/1999 Return: 5.00 % Date: 3/31/1999 Return: -6.00 % Date: 2/28/1999 Return: 17.30 % Date: 1/31/1999 Return: -4.80 % Date: 12/31/1998 Return: 2.80 % Date: 11/30/1998 Return: -3.00 % Date: 10/31/1998 Return: -8.80 % Date: 9/30/1998 Return: 8.10 % Date: 8/31/1998 Return: 32.80 % Date: 7/31/1998 Return: -3.70 % Date: 6/30/1998 Return: -6.20 % Date: 5/31/1998 Return: -0.60 % Date: 4/30/1998 Return: -10.50 % Date: 3/31/1998 Return: -3.80 % Date: 2/28/1998 Return: 3.30 % Date: 1/31/1998 Return: -0.30 % Date: 12/31/1997 Return: 5.90 % Date: 11/30/1997 Return: 1.00 % Date: 10/31/1997 Return: -6.70 % Date: 9/30/1997 Return: -0.30 % Date: 8/31/1997 Return: -4.30 % Date: 7/31/1997 Return: 7.50 % Date: 6/30/1997 Return: 1.00 % Date: 5/31/1997 Return: 1.20 % Date: 4/30/1997 Return: -8.40 % Date: 3/31/1997 Return: 3.90 % Date: 2/28/1997 Return: 8.70 % Date: 1/31/1997 Return: 5.60 % Date: 12/31/1996 Return: -8.70 % Date: 11/30/1996 Return: 9.60 % Date: 10/31/1996 Return: 18.90 % Date: 9/30/1996 Return: 3.00 % Date: 8/31/1996 Return: -2.80 % Date: 7/31/1996 Return: 1.50 % Date: 6/30/1996 Return: 4.10 % Date: 5/31/1996 Return: -5.90 % Date: 4/30/1996 Return: 3.50 % Date: 3/31/1996 Return: -1.60 % Date: 2/29/1996 Return: -16.50 % Date: 1/31/1996 Return: -2.90 % Date: 12/31/1995 Return: 17.20 % Date: 11/30/1995 Return: 0.80 % Date: 10/31/1995 Return: -5.10 % Date: 9/30/1995 Return: -9.70 % Date: 8/31/1995 Return: -13.00 % Date: 7/31/1995 Return: -19.30 % Date: 6/30/1995 Return: -0.70 % Date: 5/31/1995 Return: 22.80 % Date: 4/30/1995 Return: 16.70 % Date: 3/31/1995 Return: 21.30 % Date: 2/28/1995 Return: 7.70 % Date: 1/31/1995 Return: -7.90 % Date: 12/31/1994 Return: -0.20 % Date: 11/30/1994 Return: 14.40 % Date: 10/31/1994 Return: -11.10 % Date: 9/30/1994 Return: -1.20 % Date: 8/31/1994 Return: -7.20 % Date: 7/31/1994 Return: -6.80 % Date: 6/30/1994 Return: -1.20 % Date: 5/31/1994 Return: 11.90 % Date: 4/30/1994 Return: -1.40 % Date: 3/31/1994 Return: 12.00 % Date: 2/28/1994 Return: -11.40 % Date: 1/31/1994 Return: -13.00 % Date: 12/31/1993 Return: 8.20 % Date: 11/30/1993 Return: -2.40 % Date: 10/31/1993 Return: -1.90 % Date: 9/30/1993 Return: -2.70 % Date: 8/31/1993 Return: 9.50 % Date: 7/31/1993 Return: 22.00 % Date: 6/30/1993 Return: -1.50 % Date: 5/31/1993 Return: -5.50 % Date: 4/30/1993 Return: 10.20 % Date: 3/31/1993 Return: 3.00 % Date: 2/28/1993 Return: 8.50 % Date: 1/31/1993 Return: 6.90 % Date: 12/31/1992 Return: -4.30 % Date: 11/30/1992 Return: 0.80 % Date: 10/31/1992 Return: -1.10 % Date: 9/30/1992 Return: -12.10 % Date: 8/31/1992 Return: 1.20 % Date: 7/31/1992 Return: 9.40 % Date: 6/30/1992 Return: 5.40 % Date: 5/31/1992 Return: -3.80 % Date: 4/30/1992 Return: -4.80 % Date: 3/31/1992 Return: -5.70 % Date: 2/29/1992 Return: -5.80 % Date: 1/31/1992 Return: -15.20 % Date: 12/31/1991 Return: 44.60 % Date: 11/30/1991 Return: -2.60 % Date: 10/31/1991 Return: -2.80 % Date: 9/30/1991 Return: 13.40 % Date: 8/31/1991 Return: -1.80 % Date: 7/31/1991 Return: -11.30 % Date: 6/30/1991 Return: 1.10 % Date: 5/31/1991 Return: -3.20 % Date: 4/30/1991 Return: -4.80 % Date: 3/31/1991 Return: 0.20 % Date: 2/28/1991 Return: -11.80 % Date: 1/31/1991 Return: -7.30 % Date: 12/31/1990 Return: -2.00 % Date: 11/30/1990 Return: 0.20 % Date: 10/31/1990 Return: 2.90 % Date: 9/30/1990 Return: 9.40 % Date: 8/31/1990 Return: 16.70 % Date: 7/31/1990 Return: 11.50 % Date: 6/30/1990 Return: 18.00 % Date: 5/31/1990 Return: -15.90 % Date: 4/30/1990 Return: 39.60 % Date: 3/31/1990 Return: 36.40 % Date: 2/28/1990 Return: 0.50 % Date: 1/31/1990 Return: 5.30 % Date: 12/31/1989 Return: 35.96 %

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 12/89 - 01/23
Return: 11.00 % Count: 3 Return: 15.00 % Count: 2 Return: 16.00 % Count: 1 Return: 2.00 % Count: 17 Return: -18.00 % Count: 1 Return: 33.00 % Count: 1 Return: 6.00 % Count: 13 Return: -9.00 % Count: 3 Return: 19.00 % Count: 2 Return: 4.00 % Count: 17 Return: -17.00 % Count: 1 Return: -10.00 % Count: 6 Return: -19.00 % Count: 1 Return: 23.00 % Count: 1 Return: 21.00 % Count: 1 Return: -8.00 % Count: 3 Return: 14.00 % Count: 2 Return: -13.00 % Count: 4 Return: 22.00 % Count: 1 Return: 10.00 % Count: 8 Return: 8.00 % Count: 8 Return: 7.00 % Count: 12 Return: -1.00 % Count: 34 Return: -4.00 % Count: 19 Return: -6.00 % Count: 18 Return: -15.00 % Count: 1 Return: 45.00 % Count: 1 Return: 13.00 % Count: 3 Return: -11.00 % Count: 4 Return: 1.00 % Count: 32 Return: -3.00 % Count: 22 Return: -5.00 % Count: 16 Return: -12.00 % Count: 3 Return: -7.00 % Count: 12 Return: -2.00 % Count: 30 Return: 3.00 % Count: 23 Return: 9.00 % Count: 9 Return: 17.00 % Count: 5 Return: 12.00 % Count: 5 Return: 18.00 % Count: 1 Return: -16.00 % Count: 1 Return: 40.00 % Count: 1 Return: 0.00 % Count: 33 Return: 5.00 % Count: 16 Return: 36.00 % Count: 2

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Underwater Curve

Date Range: 12/89 - 01/23
Date: 2/28/2023 Drawdown: -9.59 % Date: 1/31/2023 Drawdown: -10.85 % Date: 12/31/2022 Drawdown: -9.75 % Date: 11/30/2022 Drawdown: -9.85 % Date: 10/31/2022 Drawdown: -0.26 % Date: 9/30/2022 Drawdown: 0.00 % Date: 8/31/2022 Drawdown: -4.42 % Date: 7/31/2022 Drawdown: -6.78 % Date: 6/30/2022 Drawdown: -0.20 % Date: 5/31/2022 Drawdown: -1.66 % Date: 4/30/2022 Drawdown: 0.00 % Date: 3/31/2022 Drawdown: 0.00 % Date: 2/28/2022 Drawdown: 0.00 % Date: 1/31/2022 Drawdown: 0.00 % Date: 12/31/2021 Drawdown: -3.99 % Date: 11/30/2021 Drawdown: -2.52 % Date: 10/31/2021 Drawdown: 0.00 % Date: 9/30/2021 Drawdown: 0.00 % Date: 8/31/2021 Drawdown: -4.88 % Date: 7/31/2021 Drawdown: -4.26 % Date: 6/30/2021 Drawdown: -3.70 % Date: 5/31/2021 Drawdown: 0.00 % Date: 4/30/2021 Drawdown: 0.00 % Date: 3/31/2021 Drawdown: -2.00 % Date: 2/28/2021 Drawdown: 0.00 % Date: 1/31/2021 Drawdown: -0.74 % Date: 12/31/2020 Drawdown: -0.41 % Date: 11/30/2020 Drawdown: -10.44 % Date: 10/31/2020 Drawdown: -9.85 % Date: 9/30/2020 Drawdown: -10.94 % Date: 8/31/2020 Drawdown: -5.56 % Date: 7/31/2020 Drawdown: -6.22 % Date: 6/30/2020 Drawdown: -8.34 % Date: 5/31/2020 Drawdown: -6.83 % Date: 4/30/2020 Drawdown: -7.02 % Date: 3/31/2020 Drawdown: -6.19 % Date: 2/29/2020 Drawdown: -18.18 % Date: 1/31/2020 Drawdown: -21.77 % Date: 12/31/2019 Drawdown: -19.86 % Date: 11/30/2019 Drawdown: -22.40 % Date: 10/31/2019 Drawdown: -23.60 % Date: 9/30/2019 Drawdown: -21.31 % Date: 8/31/2019 Drawdown: -15.55 % Date: 7/31/2019 Drawdown: -23.27 % Date: 6/30/2019 Drawdown: -24.56 % Date: 5/31/2019 Drawdown: -23.19 % Date: 4/30/2019 Drawdown: -27.68 % Date: 3/31/2019 Drawdown: -28.66 % Date: 2/28/2019 Drawdown: -31.23 % Date: 1/31/2019 Drawdown: -31.04 % Date: 12/31/2018 Drawdown: -26.78 % Date: 11/30/2018 Drawdown: -27.93 % Date: 10/31/2018 Drawdown: -28.56 % Date: 9/30/2018 Drawdown: -25.25 % Date: 8/31/2018 Drawdown: -24.51 % Date: 7/31/2018 Drawdown: -25.85 % Date: 6/30/2018 Drawdown: -25.30 % Date: 5/31/2018 Drawdown: -24.41 % Date: 4/30/2018 Drawdown: -22.30 % Date: 3/31/2018 Drawdown: -22.36 % Date: 2/28/2018 Drawdown: -21.06 % Date: 1/31/2018 Drawdown: -16.22 % Date: 12/31/2017 Drawdown: -25.52 % Date: 11/30/2017 Drawdown: -27.72 % Date: 10/31/2017 Drawdown: -27.39 % Date: 9/30/2017 Drawdown: -31.66 % Date: 8/31/2017 Drawdown: -26.77 % Date: 7/31/2017 Drawdown: -27.61 % Date: 6/30/2017 Drawdown: -28.23 % Date: 5/31/2017 Drawdown: -24.83 % Date: 4/30/2017 Drawdown: -26.30 % Date: 3/31/2017 Drawdown: -26.58 % Date: 2/28/2017 Drawdown: -21.55 % Date: 1/31/2017 Drawdown: -25.06 % Date: 12/31/2016 Drawdown: -24.44 % Date: 11/30/2016 Drawdown: -23.75 % Date: 10/31/2016 Drawdown: -21.76 % Date: 9/30/2016 Drawdown: -17.74 % Date: 8/31/2016 Drawdown: -16.62 % Date: 7/31/2016 Drawdown: -11.84 % Date: 6/30/2016 Drawdown: -13.43 % Date: 5/31/2016 Drawdown: -15.25 % Date: 4/30/2016 Drawdown: -13.23 % Date: 3/31/2016 Drawdown: -6.95 % Date: 2/29/2016 Drawdown: 0.00 % Date: 1/31/2016 Drawdown: 0.00 % Date: 12/31/2015 Drawdown: -3.87 % Date: 11/30/2015 Drawdown: -0.64 % Date: 10/31/2015 Drawdown: -3.62 % Date: 9/30/2015 Drawdown: 0.00 % Date: 8/31/2015 Drawdown: -3.00 % Date: 7/31/2015 Drawdown: -0.36 % Date: 6/30/2015 Drawdown: -4.80 % Date: 5/31/2015 Drawdown: -0.23 % Date: 4/30/2015 Drawdown: -0.93 % Date: 3/31/2015 Drawdown: -1.02 % Date: 2/28/2015 Drawdown: -1.54 % Date: 1/31/2015 Drawdown: 0.00 % Date: 12/31/2014 Drawdown: -1.30 % Date: 11/30/2014 Drawdown: -4.08 % Date: 10/31/2014 Drawdown: -9.06 % Date: 9/30/2014 Drawdown: -9.66 % Date: 8/31/2014 Drawdown: -16.09 % Date: 7/31/2014 Drawdown: -19.84 % Date: 6/30/2014 Drawdown: -25.31 % Date: 5/31/2014 Drawdown: -26.49 % Date: 4/30/2014 Drawdown: -27.02 % Date: 3/31/2014 Drawdown: -27.32 % Date: 2/28/2014 Drawdown: -24.88 % Date: 1/31/2014 Drawdown: -23.22 % Date: 12/31/2013 Drawdown: -20.81 % Date: 11/30/2013 Drawdown: -18.35 % Date: 10/31/2013 Drawdown: -21.42 % Date: 9/30/2013 Drawdown: -23.42 % Date: 8/31/2013 Drawdown: -19.98 % Date: 7/31/2013 Drawdown: -18.17 % Date: 6/30/2013 Drawdown: -14.79 % Date: 5/31/2013 Drawdown: -13.53 % Date: 4/30/2013 Drawdown: -8.47 % Date: 3/31/2013 Drawdown: -10.48 % Date: 2/28/2013 Drawdown: -12.85 % Date: 1/31/2013 Drawdown: -9.62 % Date: 12/31/2012 Drawdown: -14.54 % Date: 11/30/2012 Drawdown: -15.51 % Date: 10/31/2012 Drawdown: -14.64 % Date: 9/30/2012 Drawdown: -9.78 % Date: 8/31/2012 Drawdown: -8.65 % Date: 7/31/2012 Drawdown: -6.08 % Date: 6/30/2012 Drawdown: -6.37 % Date: 5/31/2012 Drawdown: 0.00 % Date: 4/30/2012 Drawdown: -14.97 % Date: 3/31/2012 Drawdown: -15.47 % Date: 2/29/2012 Drawdown: -12.50 % Date: 1/31/2012 Drawdown: -17.69 % Date: 12/31/2011 Drawdown: -18.45 % Date: 11/30/2011 Drawdown: -17.25 % Date: 10/31/2011 Drawdown: -18.98 % Date: 9/30/2011 Drawdown: -10.93 % Date: 8/31/2011 Drawdown: -13.85 % Date: 7/31/2011 Drawdown: -12.06 % Date: 6/30/2011 Drawdown: -17.68 % Date: 5/31/2011 Drawdown: -13.11 % Date: 4/30/2011 Drawdown: -3.64 % Date: 3/31/2011 Drawdown: -9.14 % Date: 2/28/2011 Drawdown: -5.14 % Date: 1/31/2011 Drawdown: -8.01 % Date: 12/31/2010 Drawdown: -8.62 % Date: 11/30/2010 Drawdown: -13.58 % Date: 10/31/2010 Drawdown: -13.41 % Date: 9/30/2010 Drawdown: -18.95 % Date: 8/31/2010 Drawdown: -23.72 % Date: 7/31/2010 Drawdown: -24.29 % Date: 6/30/2010 Drawdown: -23.83 % Date: 5/31/2010 Drawdown: -22.52 % Date: 4/30/2010 Drawdown: -19.59 % Date: 3/31/2010 Drawdown: -19.98 % Date: 2/28/2010 Drawdown: -24.52 % Date: 1/31/2010 Drawdown: -23.70 % Date: 12/31/2009 Drawdown: -14.25 % Date: 11/30/2009 Drawdown: -12.51 % Date: 10/31/2009 Drawdown: -15.78 % Date: 9/30/2009 Drawdown: -14.14 % Date: 8/31/2009 Drawdown: -14.43 % Date: 7/31/2009 Drawdown: -16.55 % Date: 6/30/2009 Drawdown: -15.50 % Date: 5/31/2009 Drawdown: -10.09 % Date: 4/30/2009 Drawdown: -10.54 % Date: 3/31/2009 Drawdown: -8.10 % Date: 2/28/2009 Drawdown: -1.55 % Date: 1/31/2009 Drawdown: -1.95 % Date: 12/31/2008 Drawdown: 0.00 % Date: 11/30/2008 Drawdown: 0.00 % Date: 10/31/2008 Drawdown: 0.00 % Date: 9/30/2008 Drawdown: 0.00 % Date: 8/31/2008 Drawdown: -4.92 % Date: 7/31/2008 Drawdown: -6.05 % Date: 6/30/2008 Drawdown: 0.00 % Date: 5/31/2008 Drawdown: 0.00 % Date: 4/30/2008 Drawdown: -1.24 % Date: 3/31/2008 Drawdown: -1.40 % Date: 2/29/2008 Drawdown: 0.00 % Date: 1/31/2008 Drawdown: 0.00 % Date: 12/31/2007 Drawdown: 0.00 % Date: 11/30/2007 Drawdown: -0.33 % Date: 10/31/2007 Drawdown: 0.00 % Date: 9/30/2007 Drawdown: 0.00 % Date: 8/31/2007 Drawdown: -8.33 % Date: 7/31/2007 Drawdown: -7.35 % Date: 6/30/2007 Drawdown: 0.00 % Date: 5/31/2007 Drawdown: -2.52 % Date: 4/30/2007 Drawdown: -5.94 % Date: 3/31/2007 Drawdown: -9.76 % Date: 2/28/2007 Drawdown: -6.73 % Date: 1/31/2007 Drawdown: -1.60 % Date: 12/31/2006 Drawdown: -5.17 % Date: 11/30/2006 Drawdown: -5.22 % Date: 10/31/2006 Drawdown: -6.48 % Date: 9/30/2006 Drawdown: -7.14 % Date: 8/31/2006 Drawdown: -5.22 % Date: 7/31/2006 Drawdown: -6.44 % Date: 6/30/2006 Drawdown: -2.39 % Date: 5/31/2006 Drawdown: 0.00 % Date: 4/30/2006 Drawdown: 0.00 % Date: 3/31/2006 Drawdown: -7.18 % Date: 2/28/2006 Drawdown: -13.71 % Date: 1/31/2006 Drawdown: -8.35 % Date: 12/31/2005 Drawdown: -12.37 % Date: 11/30/2005 Drawdown: -12.01 % Date: 10/31/2005 Drawdown: -18.67 % Date: 9/30/2005 Drawdown: -12.00 % Date: 8/31/2005 Drawdown: -15.46 % Date: 7/31/2005 Drawdown: -18.46 % Date: 6/30/2005 Drawdown: -18.62 % Date: 5/31/2005 Drawdown: -20.23 % Date: 4/30/2005 Drawdown: -23.08 % Date: 3/31/2005 Drawdown: -19.85 % Date: 2/28/2005 Drawdown: -18.39 % Date: 1/31/2005 Drawdown: -23.94 % Date: 12/31/2004 Drawdown: -19.92 % Date: 11/30/2004 Drawdown: -16.74 % Date: 10/31/2004 Drawdown: -24.63 % Date: 9/30/2004 Drawdown: -27.26 % Date: 8/31/2004 Drawdown: -26.12 % Date: 7/31/2004 Drawdown: -26.18 % Date: 6/30/2004 Drawdown: -23.27 % Date: 5/31/2004 Drawdown: -19.19 % Date: 4/30/2004 Drawdown: -14.39 % Date: 3/31/2004 Drawdown: -2.14 % Date: 2/29/2004 Drawdown: 0.00 % Date: 1/31/2004 Drawdown: -1.13 % Date: 12/31/2003 Drawdown: 0.00 % Date: 11/30/2003 Drawdown: -2.70 % Date: 10/31/2003 Drawdown: 0.00 % Date: 9/30/2003 Drawdown: 0.00 % Date: 8/31/2003 Drawdown: -0.51 % Date: 7/31/2003 Drawdown: -0.51 % Date: 6/30/2003 Drawdown: -2.84 % Date: 5/31/2003 Drawdown: -0.65 % Date: 4/30/2003 Drawdown: -12.08 % Date: 3/31/2003 Drawdown: -13.04 % Date: 2/28/2003 Drawdown: -0.50 % Date: 1/31/2003 Drawdown: -9.88 % Date: 12/31/2002 Drawdown: -14.24 % Date: 11/30/2002 Drawdown: -16.66 % Date: 10/31/2002 Drawdown: -11.90 % Date: 9/30/2002 Drawdown: 0.00 % Date: 8/31/2002 Drawdown: -3.05 % Date: 7/31/2002 Drawdown: -1.77 % Date: 6/30/2002 Drawdown: -6.98 % Date: 5/31/2002 Drawdown: -18.19 % Date: 4/30/2002 Drawdown: -23.18 % Date: 3/31/2002 Drawdown: -19.89 % Date: 2/28/2002 Drawdown: -23.93 % Date: 1/31/2002 Drawdown: -15.66 % Date: 12/31/2001 Drawdown: -11.50 % Date: 11/30/2001 Drawdown: -9.97 % Date: 10/31/2001 Drawdown: -0.30 % Date: 9/30/2001 Drawdown: 0.00 % Date: 8/31/2001 Drawdown: -3.58 % Date: 7/31/2001 Drawdown: -9.21 % Date: 6/30/2001 Drawdown: -7.64 % Date: 5/31/2001 Drawdown: -7.45 % Date: 4/30/2001 Drawdown: -6.80 % Date: 3/31/2001 Drawdown: 0.00 % Date: 2/28/2001 Drawdown: -12.87 % Date: 1/31/2001 Drawdown: -14.41 % Date: 12/31/2000 Drawdown: -14.15 % Date: 11/30/2000 Drawdown: -21.24 % Date: 10/31/2000 Drawdown: -26.53 % Date: 9/30/2000 Drawdown: -28.46 % Date: 8/31/2000 Drawdown: -23.97 % Date: 7/31/2000 Drawdown: -27.32 % Date: 6/30/2000 Drawdown: -25.22 % Date: 5/31/2000 Drawdown: -21.53 % Date: 4/30/2000 Drawdown: -27.88 % Date: 3/31/2000 Drawdown: -27.30 % Date: 2/29/2000 Drawdown: -25.44 % Date: 1/31/2000 Drawdown: -27.54 % Date: 12/31/1999 Drawdown: -27.03 % Date: 11/30/1999 Drawdown: -28.53 % Date: 10/31/1999 Drawdown: -30.00 % Date: 9/30/1999 Drawdown: -14.53 % Date: 8/31/1999 Drawdown: -20.49 % Date: 7/31/1999 Drawdown: -19.85 % Date: 6/30/1999 Drawdown: -14.46 % Date: 5/31/1999 Drawdown: -13.51 % Date: 4/30/1999 Drawdown: -9.62 % Date: 3/31/1999 Drawdown: -13.93 % Date: 2/28/1999 Drawdown: -8.43 % Date: 1/31/1999 Drawdown: -21.94 % Date: 12/31/1998 Drawdown: -18.00 % Date: 11/30/1998 Drawdown: -20.23 % Date: 10/31/1998 Drawdown: -17.77 % Date: 9/30/1998 Drawdown: -9.83 % Date: 8/31/1998 Drawdown: -16.59 % Date: 7/31/1998 Drawdown: -37.19 % Date: 6/30/1998 Drawdown: -34.78 % Date: 5/31/1998 Drawdown: -30.47 % Date: 4/30/1998 Drawdown: -30.05 % Date: 3/31/1998 Drawdown: -21.84 % Date: 2/28/1998 Drawdown: -18.75 % Date: 1/31/1998 Drawdown: -21.35 % Date: 12/31/1997 Drawdown: -21.11 % Date: 11/30/1997 Drawdown: -25.51 % Date: 10/31/1997 Drawdown: -26.24 % Date: 9/30/1997 Drawdown: -20.95 % Date: 8/31/1997 Drawdown: -20.71 % Date: 7/31/1997 Drawdown: -17.15 % Date: 6/30/1997 Drawdown: -22.93 % Date: 5/31/1997 Drawdown: -23.69 % Date: 4/30/1997 Drawdown: -24.59 % Date: 3/31/1997 Drawdown: -17.68 % Date: 2/28/1997 Drawdown: -20.77 % Date: 1/31/1997 Drawdown: -27.11 % Date: 12/31/1996 Drawdown: -30.98 % Date: 11/30/1996 Drawdown: -24.40 % Date: 10/31/1996 Drawdown: -31.02 % Date: 9/30/1996 Drawdown: -41.99 % Date: 8/31/1996 Drawdown: -43.68 % Date: 7/31/1996 Drawdown: -42.05 % Date: 6/30/1996 Drawdown: -42.91 % Date: 5/31/1996 Drawdown: -45.16 % Date: 4/30/1996 Drawdown: -41.72 % Date: 3/31/1996 Drawdown: -43.69 % Date: 2/29/1996 Drawdown: -42.77 % Date: 1/31/1996 Drawdown: -31.47 % Date: 12/31/1995 Drawdown: -29.42 % Date: 11/30/1995 Drawdown: -39.78 % Date: 10/31/1995 Drawdown: -40.26 % Date: 9/30/1995 Drawdown: -37.05 % Date: 8/31/1995 Drawdown: -30.28 % Date: 7/31/1995 Drawdown: -19.86 % Date: 6/30/1995 Drawdown: -0.70 % Date: 5/31/1995 Drawdown: 0.00 % Date: 4/30/1995 Drawdown: 0.00 % Date: 3/31/1995 Drawdown: -1.79 % Date: 2/28/1995 Drawdown: -19.04 % Date: 1/31/1995 Drawdown: -24.82 % Date: 12/31/1994 Drawdown: -18.38 % Date: 11/30/1994 Drawdown: -18.21 % Date: 10/31/1994 Drawdown: -28.51 % Date: 9/30/1994 Drawdown: -19.58 % Date: 8/31/1994 Drawdown: -18.60 % Date: 7/31/1994 Drawdown: -12.29 % Date: 6/30/1994 Drawdown: -5.89 % Date: 5/31/1994 Drawdown: -4.75 % Date: 4/30/1994 Drawdown: -14.88 % Date: 3/31/1994 Drawdown: -13.67 % Date: 2/28/1994 Drawdown: -22.92 % Date: 1/31/1994 Drawdown: -13.00 % Date: 12/31/1993 Drawdown: 0.00 % Date: 11/30/1993 Drawdown: -6.84 % Date: 10/31/1993 Drawdown: -4.55 % Date: 9/30/1993 Drawdown: -2.70 % Date: 8/31/1993 Drawdown: 0.00 % Date: 7/31/1993 Drawdown: 0.00 % Date: 6/30/1993 Drawdown: -17.27 % Date: 5/31/1993 Drawdown: -16.01 % Date: 4/30/1993 Drawdown: -11.12 % Date: 3/31/1993 Drawdown: -19.35 % Date: 2/28/1993 Drawdown: -21.70 % Date: 1/31/1993 Drawdown: -27.83 % Date: 12/31/1992 Drawdown: -32.49 % Date: 11/30/1992 Drawdown: -29.46 % Date: 10/31/1992 Drawdown: -30.02 % Date: 9/30/1992 Drawdown: -29.24 % Date: 8/31/1992 Drawdown: -19.50 % Date: 7/31/1992 Drawdown: -20.45 % Date: 6/30/1992 Drawdown: -27.29 % Date: 5/31/1992 Drawdown: -31.01 % Date: 4/30/1992 Drawdown: -28.29 % Date: 3/31/1992 Drawdown: -24.67 % Date: 2/29/1992 Drawdown: -20.12 % Date: 1/31/1992 Drawdown: -15.20 % Date: 12/31/1991 Drawdown: 0.00 % Date: 11/30/1991 Drawdown: -30.05 % Date: 10/31/1991 Drawdown: -28.18 % Date: 9/30/1991 Drawdown: -26.12 % Date: 8/31/1991 Drawdown: -34.85 % Date: 7/31/1991 Drawdown: -33.65 % Date: 6/30/1991 Drawdown: -25.20 % Date: 5/31/1991 Drawdown: -26.01 % Date: 4/30/1991 Drawdown: -23.57 % Date: 3/31/1991 Drawdown: -19.71 % Date: 2/28/1991 Drawdown: -19.87 % Date: 1/31/1991 Drawdown: -9.15 % Date: 12/31/1990 Drawdown: -2.00 % Date: 11/30/1990 Drawdown: 0.00 % Date: 10/31/1990 Drawdown: 0.00 % Date: 9/30/1990 Drawdown: 0.00 % Date: 8/31/1990 Drawdown: 0.00 % Date: 7/31/1990 Drawdown: 0.00 % Date: 6/30/1990 Drawdown: -0.76 % Date: 5/31/1990 Drawdown: -15.90 % Date: 4/30/1990 Drawdown: 0.00 % Date: 3/31/1990 Drawdown: 0.00 % Date: 2/28/1990 Drawdown: 0.00 % Date: 1/31/1990 Drawdown: 0.00 %

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Manager Information

Manager Name:  EMC Capital Advisors LLC
Address: 2201 Waukegan Road Suite West 240
City: Bannockburn
State: IL
Zip: 60015
Country: USA

Key People

Name:  John C. Krautsack
Position:  Principal
Biography: 

John Krautsack, Chairman of EMC Capital Advisors, LLC has over 26 years experience in the futures industry and directs all investment activity at EMC. Mr. Krautsack oversees the research committee which develops EMC’s systematic, technical trend-following trading systems and is responsible for the daily management of the investment portfolio. Mr. Krautsack started his career in the futures industry in 1985 as an assistant to a prominent S&P 500 trader at the Chicago Mercantile Exchange. From 1989 to 1995, he managed trading operations for De Angelis Trading/Crown Capital Management, JPD Enterprises and ALH Capital. He joined EMC in 1995, overseeing trading and managing the portfolio until he assumed the role of Chairman in 2013.

Name:  Brian Proctor
Position:  Principal
Biography: 

Brian D. Proctor joined EMC in August 2005 and has served as Managing Director since July 2008, and Vice President, Director ofMarketing since August 2005. Mr. Proctor is active in trading, research, and business development for EMC.Mr. Proctor was employed by Morgan Stanley DWInc. as a Financial Advisor from July 2003 to July 2005 prior to joining EMC.Mr. Proctor holds a B.A. in Economics from Miami of Ohio University, and J.D. from John Marshall Law School. Mr. Proctor became registered as an Associated Person and listed as a Principal of EMC effective November 30, 2005 and July 7, 2008, respectively.

Name:  David F. Polli
Position:  Principal
Biography: 

David F. Polli joined EMC in October 2002 and has served as Managing Director, Research since July 2008, Director of Research since January 2006, and Director of IT and Senior Trader since October 2002. Mr. Polli directs research at EMC and is responsible for the design and integration of all trading and research platforms employed by EMC. Mr. Polli graduated with honors from the Illinois Institute of Technology with a B.S. in Computer and Electrical Engineering. Mr. Polli became registered as an Associated Person and listed as a Principal of EMC effective March 6, 2003 and July 7, 2008, respectively.

Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Interest Rates Yes 
 Currencies Yes 
 Metals Yes 
 Energies Yes 
 Softs Yes 
 Grains Yes 
 Meats Yes 
 Investment Methodology
 Technical Yes 
 Trend Following Yes 
 Systematic Yes 
 Diversified Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Long Term Yes 
 Medium Term Yes 
 Short Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $5,000,000 
 Margin / Equity Ratio: 15% 
 Managed Account Availability: Open 
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There are substantial risks and conflicts of interests associated with Managed Futures and commodities accounts, and you should only invest risk capital. The success of an investment is dependent upon the ability of a commodity trading advisor (CTA) to identify profitable investment opportunities and successfully trade. The identification of attractive trading opportunities is difficult, requires skill, and involves a significant degree of uncertainty. CTAs have total trading authority, and the use of a single CTA could mean a lack of diversification and higher risk. The high degree of leverage often obtainable in commodity trading can work against you as well as for you, and can lead to large losses as well as gains. Returns generated from a CTA’s trading, if any, may not adequately compensate you for the business and financial risks you assume. You can lose all or a substantial amount of your investment. If you use notional funding, you may lose more than your initial cash investment. Managed Futures and commodities accounts may be subject to substantial charges for management and advisory fees. It may be necessary for accounts that are subject to these charges to make substantial trading profits in order to avoid depletion or exhaustion of their assets. The disclosure document contains a complete description of each fee to be charged to your account by a CTA. CTAs may trade highly illiquid markets, or on foreign markets, and may not be able to close or offset positions immediately upon request. You may have market exposure even after the CTA has a request for closure or liquidation. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.




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