WaveFront Global Asset Management Corp

IMFC Global Investment Program *QEP*


Monthly Performance (%)

Date Range: 01/07 - 10/21
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2021 1.69 8.65 -1.22 4.44 2.85 -2.82 0.01 -0.26 3.12 5.02 -6.46   15.12 
2020 3.46 2.00 21.46 -3.00 -3.80 -2.41 2.25 2.53 -5.85 0.13 5.00 12.20  35.91 
2019 -4.92 4.07 0.48 2.09 -0.48 -1.57 -1.71 4.79 -7.03 -3.21 0.30 1.38  -6.29 
2018 6.96 -10.73 -2.21 0.12 -2.87 -0.78 0.39 -0.11 1.90 -6.92 0.16 3.78  -10.93 
2017 -1.52 -1.83 -3.22 -0.83 -2.99 -1.46 1.96 1.55 -3.35 -0.38 -0.40 1.10  -10.96 
2016 3.60 1.72 -3.60 -3.23 -4.77 5.18 -0.28 -5.82 -3.13 -4.96 -5.68 -0.23  -19.88 
2015 13.11 -1.18 0.76 -4.70 0.85 -2.37 5.30 1.06 0.34 -3.97 3.23 -1.46  10.23 
2014 -2.85 1.26 -3.61 0.13 0.18 0.34 5.19 3.37 2.77 -0.31 8.50 3.82  19.76 
2013 3.16 -0.52 0.69 4.04 -0.08 0.35 -2.87 -3.76 1.06 2.16 3.36 2.33  10.03 
2012 -2.74 -2.75 -1.51 3.16 6.99 -6.02 1.22 -1.46 -4.51 -4.78 -1.50 0.63  -13.14 
2011 -0.21 3.88 -1.43 3.73 -2.92 -2.32 2.96 1.03 -4.08 -4.29 0.67 1.32  -2.10 
2010 -3.36 2.31 3.52 0.56 -3.44 -0.62 -3.88 9.37 1.80 5.63 -1.86 3.07  12.94 
2009 -0.88 -0.47 -3.63 -1.84 -2.95 0.27 -0.04 4.39 3.31 -4.28 8.77 -3.99  -2.14 
2008 4.59 18.84 -1.19 -2.77 1.07 4.26 -6.98 -3.39 4.26 19.65 2.26 2.23  47.47 
2007 -6.55 -3.03 9.05 5.56 4.44 -7.01 -3.72 11.52 7.13 -1.25 2.27  17.69 

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

There are two investment tenets behind the Global Investment Program. First, the primary functions of all markets are to provide for a medium of exchange, to price the value or desirability of assets and to price the premiums required to balance supply and demand. Second, futures markets exhibit long term price trends that are a result of the persistent pricing of risk premiums based on deeply rooted fundamental factors and the crowd behavior of market participants. Utilizing four distinct and uncorrelated investment strategies, The Global Investment Program applies proprietary systematic and quantitative methods to measure the value of assets, the amount of risk premium priced into assets and the momentum and volatility of assets. This analytical process identifies long-term investment opportunities in over 60 industrial, agricultural and financial futures markets. The average duration of profitable investment opportunities is approximately twenty one months, though they can last several years. Risk management operates at much higher frequencies of as little as one day. There are three main components of Wavefront's market risk management policies; Quantitative Asset Allocation, Market Risk Overlays and Portfolio Risk Overlays.

Performance Statistics

Date Range: 01/07 - 10/21
  Program S&P 500 Coquest 40 
Total Return 135.99% 340.61% 46.54% 
Annualized Return 5.99% 10.51% 2.61% 
Annualized Std. Deviation 16.15% 15.35% 8.57% 
Correlation -0.18 0.72 
Sharpe Ratio (rf=2.5%) 0.22 0.52 0.01 
Worst Month -10.73% -16.79% -6.10% 
Date of Worst Month 02/2018 10/2008 02/2018 
Worst Drawdown -44.43% -50.95% -15.74% 
Date of Worst Drawdown 2/16 - 10/19 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: 01/07 - 10/21
Year or YTD Program S&P 500 Coquest 40 
2021 15.12 24.06 8.85 
2020 35.91 18.40 0.97 
2019 -6.29 31.50 7.53 
2018 -10.93 -4.38 -4.29 
2017 -10.96 21.84 1.24 
2016 -19.88 11.98 -3.13 
2015 10.23 1.41 0.09 
2014 19.76 13.69 15.75 
2013 10.03 32.41 -2.45 
2012 -13.14 15.98 -4.75 
2011 -2.10 2.12 -3.23 
2010 12.94 15.06 11.33 
2009 -2.14 26.45 -7.98 
2008 47.47 -36.99 15.47 
2007 17.69 3.93 5.38 

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: 01/07 - 10/21
Date: 10/31/2021
Perf: $1,440.71 Date: 9/30/2021
Perf: $1,412.60 Date: 8/31/2021
Perf: $1,405.58 Date: 7/31/2021
Perf: $1,405.29 Date: 6/30/2021
Perf: $1,399.14 Date: 5/31/2021
Perf: $1,404.48 Date: 4/30/2021
Perf: $1,384.27 Date: 3/31/2021
Perf: $1,360.32 Date: 2/28/2021
Perf: $1,342.34 Date: 1/31/2021
Perf: $1,311.52 Date: 12/31/2020
Perf: $1,323.56 Date: 11/30/2020
Perf: $1,275.47 Date: 10/31/2020
Perf: $1,264.35 Date: 9/30/2020
Perf: $1,268.41 Date: 8/31/2020
Perf: $1,287.20 Date: 7/31/2020
Perf: $1,301.91 Date: 6/30/2020
Perf: $1,277.51 Date: 5/31/2020
Perf: $1,294.08 Date: 4/30/2020
Perf: $1,309.40 Date: 3/31/2020
Perf: $1,305.09 Date: 2/29/2020
Perf: $1,304.31 Date: 1/31/2020
Perf: $1,324.03 Date: 12/31/2019
Perf: $1,310.80 Date: 11/30/2019
Perf: $1,318.97 Date: 10/31/2019
Perf: $1,306.17 Date: 9/30/2019
Perf: $1,335.69 Date: 8/31/2019
Perf: $1,373.74 Date: 7/31/2019
Perf: $1,325.75 Date: 6/30/2019
Perf: $1,282.03 Date: 5/31/2019
Perf: $1,256.90 Date: 4/30/2019
Perf: $1,282.02 Date: 3/31/2019
Perf: $1,247.71 Date: 2/28/2019
Perf: $1,204.47 Date: 1/31/2019
Perf: $1,196.81 Date: 12/31/2018
Perf: $1,219.00 Date: 11/30/2018
Perf: $1,213.90 Date: 10/31/2018
Perf: $1,228.64 Date: 9/30/2018
Perf: $1,259.76 Date: 8/31/2018
Perf: $1,265.45 Date: 7/31/2018
Perf: $1,233.99 Date: 6/30/2018
Perf: $1,243.31 Date: 5/31/2018
Perf: $1,232.95 Date: 4/30/2018
Perf: $1,249.07 Date: 3/31/2018
Perf: $1,235.72 Date: 2/28/2018
Perf: $1,236.84 Date: 1/31/2018
Perf: $1,317.18 Date: 12/31/2017
Perf: $1,273.63 Date: 11/30/2017
Perf: $1,259.89 Date: 10/31/2017
Perf: $1,258.26 Date: 9/30/2017
Perf: $1,207.66 Date: 8/31/2017
Perf: $1,233.69 Date: 7/31/2017
Perf: $1,213.54 Date: 6/30/2017
Perf: $1,208.83 Date: 5/31/2017
Perf: $1,245.19 Date: 4/30/2017
Perf: $1,242.83 Date: 3/31/2017
Perf: $1,250.33 Date: 2/28/2017
Perf: $1,268.85 Date: 1/31/2017
Perf: $1,241.78 Date: 12/31/2016
Perf: $1,258.01 Date: 11/30/2016
Perf: $1,248.52 Date: 10/31/2016
Perf: $1,262.41 Date: 9/30/2016
Perf: $1,295.84 Date: 8/31/2016
Perf: $1,312.78 Date: 7/31/2016
Perf: $1,349.07 Date: 6/30/2016
Perf: $1,335.44 Date: 5/31/2016
Perf: $1,281.00 Date: 4/30/2016
Perf: $1,303.82 Date: 3/31/2016
Perf: $1,337.39 Date: 2/29/2016
Perf: $1,376.90 Date: 1/31/2016
Perf: $1,343.85 Date: 12/31/2015
Perf: $1,298.65 Date: 11/30/2015
Perf: $1,329.22 Date: 10/31/2015
Perf: $1,285.39 Date: 9/30/2015
Perf: $1,308.15 Date: 8/31/2015
Perf: $1,280.37 Date: 7/31/2015
Perf: $1,302.91 Date: 6/30/2015
Perf: $1,253.88 Date: 5/31/2015
Perf: $1,322.66 Date: 4/30/2015
Perf: $1,332.25 Date: 3/31/2015
Perf: $1,385.74 Date: 2/28/2015
Perf: $1,355.78 Date: 1/31/2015
Perf: $1,357.95 Date: 12/31/2014
Perf: $1,297.49 Date: 11/30/2014
Perf: $1,275.05 Date: 10/31/2014
Perf: $1,203.44 Date: 9/30/2014
Perf: $1,186.01 Date: 8/31/2014
Perf: $1,168.60 Date: 7/31/2014
Perf: $1,121.17 Date: 6/30/2014
Perf: $1,130.21 Date: 5/31/2014
Perf: $1,120.58 Date: 4/30/2014
Perf: $1,092.61 Date: 3/31/2014
Perf: $1,084.37 Date: 2/28/2014
Perf: $1,100.66 Date: 1/31/2014
Perf: $1,091.70 Date: 12/31/2013
Perf: $1,120.96 Date: 11/30/2013
Perf: $1,122.53 Date: 10/31/2013
Perf: $1,102.58 Date: 9/30/2013
Perf: $1,077.89 Date: 8/31/2013
Perf: $1,084.40 Date: 7/31/2013
Perf: $1,105.63 Date: 6/30/2013
Perf: $1,115.33 Date: 5/31/2013
Perf: $1,159.27 Date: 4/30/2013
Perf: $1,211.35 Date: 3/31/2013
Perf: $1,180.89 Date: 2/28/2013
Perf: $1,164.12 Date: 1/31/2013
Perf: $1,170.91 Date: 12/31/2012
Perf: $1,149.08 Date: 11/30/2012
Perf: $1,143.48 Date: 10/31/2012
Perf: $1,140.29 Date: 9/30/2012
Perf: $1,183.12 Date: 8/31/2012
Perf: $1,202.96 Date: 7/31/2012
Perf: $1,219.55 Date: 6/30/2012
Perf: $1,171.63 Date: 5/31/2012
Perf: $1,217.40 Date: 4/30/2012
Perf: $1,194.71 Date: 3/31/2012
Perf: $1,187.58 Date: 2/29/2012
Perf: $1,215.16 Date: 1/31/2012
Perf: $1,210.20 Date: 12/31/2011
Perf: $1,206.34 Date: 11/30/2011
Perf: $1,194.87 Date: 10/31/2011
Perf: $1,191.30 Date: 9/30/2011
Perf: $1,240.42 Date: 8/31/2011
Perf: $1,241.16 Date: 7/31/2011
Perf: $1,243.65 Date: 6/30/2011
Perf: $1,200.55 Date: 5/31/2011
Perf: $1,232.60 Date: 4/30/2011
Perf: $1,279.29 Date: 3/31/2011
Perf: $1,231.27 Date: 2/28/2011
Perf: $1,250.40 Date: 1/31/2011
Perf: $1,229.50 Date: 12/31/2010
Perf: $1,246.58 Date: 11/30/2010
Perf: $1,195.30 Date: 10/31/2010
Perf: $1,239.17 Date: 9/30/2010
Perf: $1,192.88 Date: 8/31/2010
Perf: $1,171.56 Date: 7/31/2010
Perf: $1,124.99 Date: 6/30/2010
Perf: $1,139.69 Date: 5/31/2010
Perf: $1,135.37 Date: 4/30/2010
Perf: $1,163.53 Date: 3/31/2010
Perf: $1,145.89 Date: 2/28/2010
Perf: $1,102.13 Date: 1/31/2010
Perf: $1,091.87 Date: 12/31/2009
Perf: $1,119.75 Date: 11/30/2009
Perf: $1,166.41 Date: 10/31/2009
Perf: $1,121.22 Date: 9/30/2009
Perf: $1,150.68 Date: 8/31/2009
Perf: $1,123.93 Date: 7/31/2009
Perf: $1,120.23 Date: 6/30/2009
Perf: $1,121.47 Date: 5/31/2009
Perf: $1,152.11 Date: 4/30/2009
Perf: $1,136.43 Date: 3/31/2009
Perf: $1,174.85 Date: 2/28/2009
Perf: $1,208.32 Date: 1/31/2009
Perf: $1,208.92 Date: 12/31/2008
Perf: $1,216.83 Date: 11/30/2008
Perf: $1,186.34 Date: 10/31/2008
Perf: $1,144.34 Date: 9/30/2008
Perf: $1,088.30 Date: 8/31/2008
Perf: $1,086.02 Date: 7/31/2008
Perf: $1,115.81 Date: 6/30/2008
Perf: $1,169.49 Date: 5/31/2008
Perf: $1,139.07 Date: 4/30/2008
Perf: $1,116.08 Date: 3/31/2008
Perf: $1,129.07 Date: 2/29/2008
Perf: $1,134.06 Date: 1/31/2008
Perf: $1,073.00 Date: 12/31/2007
Perf: $1,053.82 Date: 11/30/2007
Perf: $1,056.25 Date: 10/31/2007
Perf: $1,063.16 Date: 9/30/2007
Perf: $1,019.23 Date: 8/31/2007
Perf: $973.76 Date: 7/31/2007
Perf: $1,011.49 Date: 6/30/2007
Perf: $1,043.74 Date: 5/31/2007
Perf: $1,014.42 Date: 4/30/2007
Perf: $979.46 Date: 3/31/2007
Perf: $939.98 Date: 2/28/2007
Perf: $962.50 Date: 1/31/2007
Perf: $1,000.00 Date: 10/31/2021
Perf: $4,340.56 Date: 9/30/2021
Perf: $4,056.22 Date: 8/31/2021
Perf: $4,254.03 Date: 7/31/2021
Perf: $4,128.52 Date: 6/30/2021
Perf: $4,032.55 Date: 5/31/2021
Perf: $3,940.73 Date: 4/30/2021
Perf: $3,913.34 Date: 3/31/2021
Perf: $3,714.96 Date: 2/28/2021
Perf: $3,559.07 Date: 1/31/2021
Perf: $3,463.48 Date: 12/31/2020
Perf: $3,498.82 Date: 11/30/2020
Perf: $3,369.43 Date: 10/31/2020
Perf: $3,036.89 Date: 9/30/2020
Perf: $3,119.88 Date: 8/31/2020
Perf: $3,243.12 Date: 7/31/2020
Perf: $3,025.58 Date: 6/30/2020
Perf: $2,864.05 Date: 5/31/2020
Perf: $2,808.16 Date: 4/30/2020
Perf: $2,680.57 Date: 3/31/2020
Perf: $2,375.97 Date: 2/29/2020
Perf: $2,710.75 Date: 1/31/2020
Perf: $2,953.85 Date: 12/31/2019
Perf: $2,955.03 Date: 11/30/2019
Perf: $2,868.41 Date: 10/31/2019
Perf: $2,767.93 Date: 9/30/2019
Perf: $2,709.14 Date: 8/31/2019
Perf: $2,659.41 Date: 7/31/2019
Perf: $2,702.10 Date: 6/30/2019
Perf: $2,663.75 Date: 5/31/2019
Perf: $2,488.32 Date: 4/30/2019
Perf: $2,657.04 Date: 3/31/2019
Perf: $2,553.62 Date: 2/28/2019
Perf: $2,505.02 Date: 1/31/2019
Perf: $2,427.11 Date: 12/31/2018
Perf: $2,247.12 Date: 11/30/2018
Perf: $2,470.17 Date: 10/31/2018
Perf: $2,420.79 Date: 9/30/2018
Perf: $2,598.53 Date: 8/31/2018
Perf: $2,583.80 Date: 7/31/2018
Perf: $2,502.23 Date: 6/30/2018
Perf: $2,412.49 Date: 5/31/2018
Perf: $2,397.62 Date: 4/30/2018
Perf: $2,341.20 Date: 3/31/2018
Perf: $2,332.33 Date: 2/28/2018
Perf: $2,393.12 Date: 1/31/2018
Perf: $2,484.81 Date: 12/31/2017
Perf: $2,350.15 Date: 11/30/2017
Perf: $2,324.35 Date: 10/31/2017
Perf: $2,255.11 Date: 9/30/2017
Perf: $2,203.77 Date: 8/31/2017
Perf: $2,159.28 Date: 7/31/2017
Perf: $2,152.61 Date: 6/30/2017
Perf: $2,109.16 Date: 5/31/2017
Perf: $2,096.17 Date: 4/30/2017
Perf: $2,067.02 Date: 3/31/2017
Perf: $2,045.95 Date: 2/28/2017
Perf: $2,043.50 Date: 1/31/2017
Perf: $1,965.47 Date: 12/31/2016
Perf: $1,928.82 Date: 11/30/2016
Perf: $1,891.37 Date: 10/31/2016
Perf: $1,823.89 Date: 9/30/2016
Perf: $1,857.70 Date: 8/31/2016
Perf: $1,857.32 Date: 7/31/2016
Perf: $1,854.73 Date: 6/30/2016
Perf: $1,788.72 Date: 5/31/2016
Perf: $1,784.09 Date: 4/30/2016
Perf: $1,752.54 Date: 3/31/2016
Perf: $1,745.73 Date: 2/29/2016
Perf: $1,634.89 Date: 1/31/2016
Perf: $1,637.01 Date: 12/31/2015
Perf: $1,722.45 Date: 11/30/2015
Perf: $1,750.10 Date: 10/31/2015
Perf: $1,744.86 Date: 9/30/2015
Perf: $1,609.06 Date: 8/31/2015
Perf: $1,649.81 Date: 7/31/2015
Perf: $1,755.68 Date: 6/30/2015
Perf: $1,719.57 Date: 5/31/2015
Perf: $1,753.59 Date: 4/30/2015
Perf: $1,731.25 Date: 3/31/2015
Perf: $1,714.79 Date: 2/28/2015
Perf: $1,742.32 Date: 1/31/2015
Perf: $1,647.58 Date: 12/31/2014
Perf: $1,698.54 Date: 11/30/2014
Perf: $1,702.80 Date: 10/31/2014
Perf: $1,658.19 Date: 9/30/2014
Perf: $1,618.70 Date: 8/31/2014
Perf: $1,641.68 Date: 7/31/2014
Perf: $1,578.54 Date: 6/30/2014
Perf: $1,600.63 Date: 5/31/2014
Perf: $1,568.17 Date: 4/30/2014
Perf: $1,532.16 Date: 3/31/2014
Perf: $1,520.90 Date: 2/28/2014
Perf: $1,508.24 Date: 1/31/2014
Perf: $1,442.32 Date: 12/31/2013
Perf: $1,494.01 Date: 11/30/2013
Perf: $1,457.15 Date: 10/31/2013
Perf: $1,414.02 Date: 9/30/2013
Perf: $1,351.84 Date: 8/31/2013
Perf: $1,310.68 Date: 7/31/2013
Perf: $1,349.83 Date: 6/30/2013
Perf: $1,284.45 Date: 5/31/2013
Perf: $1,301.89 Date: 4/30/2013
Perf: $1,272.13 Date: 3/31/2013
Perf: $1,248.04 Date: 2/28/2013
Perf: $1,202.93 Date: 1/31/2013
Perf: $1,186.79 Date: 12/31/2012
Perf: $1,128.34 Date: 11/30/2012
Perf: $1,118.16 Date: 10/31/2012
Perf: $1,111.72 Date: 9/30/2012
Perf: $1,132.67 Date: 8/31/2012
Perf: $1,104.18 Date: 7/31/2012
Perf: $1,079.89 Date: 6/30/2012
Perf: $1,065.08 Date: 5/31/2012
Perf: $1,022.94 Date: 4/30/2012
Perf: $1,088.35 Date: 3/31/2012
Perf: $1,095.25 Date: 2/29/2012
Perf: $1,060.36 Date: 1/31/2012
Perf: $1,016.45 Date: 12/31/2011
Perf: $972.86 Date: 11/30/2011
Perf: $963.04 Date: 10/31/2011
Perf: $965.17 Date: 9/30/2011
Perf: $870.07 Date: 8/31/2011
Perf: $935.86 Date: 7/31/2011
Perf: $989.59 Date: 6/30/2011
Perf: $1,010.10 Date: 5/31/2011
Perf: $1,027.25 Date: 4/30/2011
Perf: $1,038.99 Date: 3/31/2011
Perf: $1,009.12 Date: 2/28/2011
Perf: $1,008.72 Date: 1/31/2011
Perf: $975.27 Date: 12/31/2010
Perf: $952.69 Date: 11/30/2010
Perf: $893.03 Date: 10/31/2010
Perf: $892.95 Date: 9/30/2010
Perf: $860.17 Date: 8/31/2010
Perf: $789.73 Date: 7/31/2010
Perf: $827.03 Date: 6/30/2010
Perf: $772.85 Date: 5/31/2010
Perf: $815.50 Date: 4/30/2010
Perf: $886.32 Date: 3/31/2010
Perf: $872.53 Date: 2/28/2010
Perf: $822.91 Date: 1/31/2010
Perf: $798.17 Date: 12/31/2009
Perf: $827.98 Date: 11/30/2009
Perf: $812.30 Date: 10/31/2009
Perf: $766.32 Date: 9/30/2009
Perf: $780.84 Date: 8/31/2009
Perf: $752.76 Date: 7/31/2009
Perf: $726.54 Date: 6/30/2009
Perf: $675.47 Date: 5/31/2009
Perf: $674.12 Date: 4/30/2009
Perf: $638.43 Date: 3/31/2009
Perf: $582.67 Date: 2/28/2009
Perf: $535.74 Date: 1/31/2009
Perf: $599.60 Date: 12/31/2008
Perf: $654.80 Date: 11/30/2008
Perf: $647.93 Date: 10/31/2008
Perf: $698.05 Date: 9/30/2008
Perf: $838.90 Date: 8/31/2008
Perf: $920.96 Date: 7/31/2008
Perf: $907.80 Date: 6/30/2008
Perf: $915.49 Date: 5/31/2008
Perf: $999.77 Date: 4/30/2008
Perf: $986.94 Date: 3/31/2008
Perf: $941.10 Date: 2/29/2008
Perf: $945.17 Date: 1/31/2008
Perf: $976.92 Date: 12/31/2007
Perf: $1,039.27 Date: 11/30/2007
Perf: $1,046.50 Date: 10/31/2007
Perf: $1,092.15 Date: 9/30/2007
Perf: $1,075.05 Date: 8/31/2007
Perf: $1,036.30 Date: 7/31/2007
Perf: $1,020.98 Date: 6/30/2007
Perf: $1,053.64 Date: 5/31/2007
Perf: $1,071.43 Date: 4/30/2007
Perf: $1,035.30 Date: 3/31/2007
Perf: $991.38 Date: 2/28/2007
Perf: $980.40 Date: 1/31/2007
Perf: $1,000.00 Date: 11/30/2021
Perf: $2,207.47 Date: 10/31/2021
Perf: $2,359.92 Date: 9/30/2021
Perf: $2,247.12 Date: 8/31/2021
Perf: $2,179.13 Date: 7/31/2021
Perf: $2,184.81 Date: 6/30/2021
Perf: $2,184.59 Date: 5/31/2021
Perf: $2,247.98 Date: 4/30/2021
Perf: $2,185.69 Date: 3/31/2021
Perf: $2,092.77 Date: 2/28/2021
Perf: $2,118.62 Date: 1/31/2021
Perf: $1,949.95 Date: 12/31/2020
Perf: $1,917.54 Date: 11/30/2020
Perf: $1,709.04 Date: 10/31/2020
Perf: $1,627.66 Date: 9/30/2020
Perf: $1,625.54 Date: 8/31/2020
Perf: $1,726.55 Date: 7/31/2020
Perf: $1,683.94 Date: 6/30/2020
Perf: $1,646.89 Date: 5/31/2020
Perf: $1,687.56 Date: 4/30/2020
Perf: $1,754.22 Date: 3/31/2020
Perf: $1,808.47 Date: 2/29/2020
Perf: $1,488.95 Date: 1/31/2020
Perf: $1,459.75 Date: 12/31/2019
Perf: $1,410.93 Date: 11/30/2019
Perf: $1,391.73 Date: 10/31/2019
Perf: $1,387.56 Date: 9/30/2019
Perf: $1,433.58 Date: 8/31/2019
Perf: $1,541.98 Date: 7/31/2019
Perf: $1,471.50 Date: 6/30/2019
Perf: $1,497.10 Date: 5/31/2019
Perf: $1,520.98 Date: 4/30/2019
Perf: $1,528.31 Date: 3/31/2019
Perf: $1,497.03 Date: 2/28/2019
Perf: $1,489.87 Date: 1/31/2019
Perf: $1,431.61 Date: 12/31/2018
Perf: $1,505.69 Date: 11/30/2018
Perf: $1,450.85 Date: 10/31/2018
Perf: $1,448.53 Date: 9/30/2018
Perf: $1,556.22 Date: 8/31/2018
Perf: $1,527.20 Date: 7/31/2018
Perf: $1,528.88 Date: 6/30/2018
Perf: $1,522.94 Date: 5/31/2018
Perf: $1,534.92 Date: 4/30/2018
Perf: $1,580.27 Date: 3/31/2018
Perf: $1,578.38 Date: 2/28/2018
Perf: $1,614.05 Date: 1/31/2018
Perf: $1,808.05 Date: 12/31/2017
Perf: $1,690.40 Date: 11/30/2017
Perf: $1,672.01 Date: 10/31/2017
Perf: $1,678.72 Date: 9/30/2017
Perf: $1,685.12 Date: 8/31/2017
Perf: $1,743.53 Date: 7/31/2017
Perf: $1,716.92 Date: 6/30/2017
Perf: $1,683.92 Date: 5/31/2017
Perf: $1,708.87 Date: 4/30/2017
Perf: $1,761.54 Date: 3/31/2017
Perf: $1,776.28 Date: 2/28/2017
Perf: $1,835.38 Date: 1/31/2017
Perf: $1,869.59 Date: 12/31/2016
Perf: $1,898.45 Date: 11/30/2016
Perf: $1,902.82 Date: 10/31/2016
Perf: $2,017.41 Date: 9/30/2016
Perf: $2,122.70 Date: 8/31/2016
Perf: $2,191.29 Date: 7/31/2016
Perf: $2,326.70 Date: 6/30/2016
Perf: $2,333.23 Date: 5/31/2016
Perf: $2,218.32 Date: 4/30/2016
Perf: $2,329.44 Date: 3/31/2016
Perf: $2,407.19 Date: 2/29/2016
Perf: $2,497.09 Date: 1/31/2016
Perf: $2,454.86 Date: 12/31/2015
Perf: $2,369.56 Date: 11/30/2015
Perf: $2,404.67 Date: 10/31/2015
Perf: $2,329.43 Date: 9/30/2015
Perf: $2,425.73 Date: 8/31/2015
Perf: $2,417.51 Date: 7/31/2015
Perf: $2,392.15 Date: 6/30/2015
Perf: $2,271.75 Date: 5/31/2015
Perf: $2,326.90 Date: 4/30/2015
Perf: $2,307.28 Date: 3/31/2015
Perf: $2,421.07 Date: 2/28/2015
Perf: $2,402.81 Date: 1/31/2015
Perf: $2,431.50 Date: 12/31/2014
Perf: $2,149.68 Date: 11/30/2014
Perf: $2,070.59 Date: 10/31/2014
Perf: $1,908.37 Date: 9/30/2014
Perf: $1,914.31 Date: 8/31/2014
Perf: $1,862.71 Date: 7/31/2014
Perf: $1,801.98 Date: 6/30/2014
Perf: $1,713.08 Date: 5/31/2014
Perf: $1,707.27 Date: 4/30/2014
Perf: $1,704.20 Date: 3/31/2014
Perf: $1,701.99 Date: 2/28/2014
Perf: $1,765.73 Date: 1/31/2014
Perf: $1,743.76 Date: 12/31/2013
Perf: $1,794.92 Date: 11/30/2013
Perf: $1,754.05 Date: 10/31/2013
Perf: $1,697.03 Date: 9/30/2013
Perf: $1,661.15 Date: 8/31/2013
Perf: $1,643.72 Date: 7/31/2013
Perf: $1,707.94 Date: 6/30/2013
Perf: $1,758.41 Date: 5/31/2013
Perf: $1,752.28 Date: 4/30/2013
Perf: $1,753.68 Date: 3/31/2013
Perf: $1,685.58 Date: 2/28/2013
Perf: $1,674.03 Date: 1/31/2013
Perf: $1,682.78 Date: 12/31/2012
Perf: $1,631.23 Date: 11/30/2012
Perf: $1,621.02 Date: 10/31/2012
Perf: $1,645.71 Date: 9/30/2012
Perf: $1,728.32 Date: 8/31/2012
Perf: $1,809.95 Date: 7/31/2012
Perf: $1,836.77 Date: 6/30/2012
Perf: $1,814.63 Date: 5/31/2012
Perf: $1,930.87 Date: 4/30/2012
Perf: $1,804.72 Date: 3/31/2012
Perf: $1,749.43 Date: 2/29/2012
Perf: $1,776.26 Date: 1/31/2012
Perf: $1,826.48 Date: 12/31/2011
Perf: $1,877.94 Date: 11/30/2011
Perf: $1,853.47 Date: 10/31/2011
Perf: $1,841.14 Date: 9/30/2011
Perf: $1,923.66 Date: 8/31/2011
Perf: $2,005.49 Date: 7/31/2011
Perf: $1,985.04 Date: 6/30/2011
Perf: $1,927.97 Date: 5/31/2011
Perf: $1,973.76 Date: 4/30/2011
Perf: $2,033.13 Date: 3/31/2011
Perf: $1,960.02 Date: 2/28/2011
Perf: $1,988.46 Date: 1/31/2011
Perf: $1,914.19 Date: 12/31/2010
Perf: $1,918.22 Date: 11/30/2010
Perf: $1,861.08 Date: 10/31/2010
Perf: $1,896.35 Date: 9/30/2010
Perf: $1,795.28 Date: 8/31/2010
Perf: $1,763.53 Date: 7/31/2010
Perf: $1,612.45 Date: 6/30/2010
Perf: $1,677.54 Date: 5/31/2010
Perf: $1,688.00 Date: 4/30/2010
Perf: $1,748.14 Date: 3/31/2010
Perf: $1,738.40 Date: 2/28/2010
Perf: $1,679.29 Date: 1/31/2010
Perf: $1,641.38 Date: 12/31/2009
Perf: $1,698.44 Date: 11/30/2009
Perf: $1,769.03 Date: 10/31/2009
Perf: $1,626.39 Date: 9/30/2009
Perf: $1,699.12 Date: 8/31/2009
Perf: $1,644.68 Date: 7/31/2009
Perf: $1,575.51 Date: 6/30/2009
Perf: $1,576.14 Date: 5/31/2009
Perf: $1,571.90 Date: 4/30/2009
Perf: $1,619.68 Date: 3/31/2009
Perf: $1,650.04 Date: 2/28/2009
Perf: $1,712.19 Date: 1/31/2009
Perf: $1,720.28 Date: 12/31/2008
Perf: $1,735.55 Date: 11/30/2008
Perf: $1,697.69 Date: 10/31/2008
Perf: $1,660.17 Date: 9/30/2008
Perf: $1,387.52 Date: 8/31/2008
Perf: $1,330.83 Date: 7/31/2008
Perf: $1,377.53 Date: 6/30/2008
Perf: $1,480.89 Date: 5/31/2008
Perf: $1,420.39 Date: 4/30/2008
Perf: $1,405.35 Date: 3/31/2008
Perf: $1,445.39 Date: 2/29/2008
Perf: $1,462.79 Date: 1/31/2008
Perf: $1,230.89 Date: 12/31/2007
Perf: $1,176.87 Date: 11/30/2007
Perf: $1,150.75 Date: 10/31/2007
Perf: $1,165.32 Date: 9/30/2007
Perf: $1,087.76 Date: 8/31/2007
Perf: $975.40 Date: 7/31/2007
Perf: $1,013.08 Date: 6/30/2007
Perf: $1,089.45 Date: 5/31/2007
Perf: $1,043.14 Date: 4/30/2007
Perf: $988.19 Date: 3/31/2007
Perf: $906.18 Date: 2/28/2007
Perf: $934.50 Date: 1/31/2007
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: 01/07 - 10/21
Date: 11/30/2021
Return: -6.46 % Date: 10/31/2021
Return: 5.02 % Date: 9/30/2021
Return: 3.12 % Date: 8/31/2021
Return: -0.26 % Date: 7/31/2021
Return: 0.01 % Date: 6/30/2021
Return: -2.82 % Date: 5/31/2021
Return: 2.85 % Date: 4/30/2021
Return: 4.44 % Date: 3/31/2021
Return: -1.22 % Date: 2/28/2021
Return: 8.65 % Date: 1/31/2021
Return: 1.69 % Date: 12/31/2020
Return: 12.20 % Date: 11/30/2020
Return: 5.00 % Date: 10/31/2020
Return: 0.13 % Date: 9/30/2020
Return: -5.85 % Date: 8/31/2020
Return: 2.53 % Date: 7/31/2020
Return: 2.25 % Date: 6/30/2020
Return: -2.41 % Date: 5/31/2020
Return: -3.80 % Date: 4/30/2020
Return: -3.00 % Date: 3/31/2020
Return: 21.46 % Date: 2/29/2020
Return: 2.00 % Date: 1/31/2020
Return: 3.46 % Date: 12/31/2019
Return: 1.38 % Date: 11/30/2019
Return: 0.30 % Date: 10/31/2019
Return: -3.21 % Date: 9/30/2019
Return: -7.03 % Date: 8/31/2019
Return: 4.79 % Date: 7/31/2019
Return: -1.71 % Date: 6/30/2019
Return: -1.57 % Date: 5/31/2019
Return: -0.48 % Date: 4/30/2019
Return: 2.09 % Date: 3/31/2019
Return: 0.48 % Date: 2/28/2019
Return: 4.07 % Date: 1/31/2019
Return: -4.92 % Date: 12/31/2018
Return: 3.78 % Date: 11/30/2018
Return: 0.16 % Date: 10/31/2018
Return: -6.92 % Date: 9/30/2018
Return: 1.90 % Date: 8/31/2018
Return: -0.11 % Date: 7/31/2018
Return: 0.39 % Date: 6/30/2018
Return: -0.78 % Date: 5/31/2018
Return: -2.87 % Date: 4/30/2018
Return: 0.12 % Date: 3/31/2018
Return: -2.21 % Date: 2/28/2018
Return: -10.73 % Date: 1/31/2018
Return: 6.96 % Date: 12/31/2017
Return: 1.10 % Date: 11/30/2017
Return: -0.40 % Date: 10/31/2017
Return: -0.38 % Date: 9/30/2017
Return: -3.35 % Date: 8/31/2017
Return: 1.55 % Date: 7/31/2017
Return: 1.96 % Date: 6/30/2017
Return: -1.46 % Date: 5/31/2017
Return: -2.99 % Date: 4/30/2017
Return: -0.83 % Date: 3/31/2017
Return: -3.22 % Date: 2/28/2017
Return: -1.83 % Date: 1/31/2017
Return: -1.52 % Date: 12/31/2016
Return: -0.23 % Date: 11/30/2016
Return: -5.68 % Date: 10/31/2016
Return: -4.96 % Date: 9/30/2016
Return: -3.13 % Date: 8/31/2016
Return: -5.82 % Date: 7/31/2016
Return: -0.28 % Date: 6/30/2016
Return: 5.18 % Date: 5/31/2016
Return: -4.77 % Date: 4/30/2016
Return: -3.23 % Date: 3/31/2016
Return: -3.60 % Date: 2/29/2016
Return: 1.72 % Date: 1/31/2016
Return: 3.60 % Date: 12/31/2015
Return: -1.46 % Date: 11/30/2015
Return: 3.23 % Date: 10/31/2015
Return: -3.97 % Date: 9/30/2015
Return: 0.34 % Date: 8/31/2015
Return: 1.06 % Date: 7/31/2015
Return: 5.30 % Date: 6/30/2015
Return: -2.37 % Date: 5/31/2015
Return: 0.85 % Date: 4/30/2015
Return: -4.70 % Date: 3/31/2015
Return: 0.76 % Date: 2/28/2015
Return: -1.18 % Date: 1/31/2015
Return: 13.11 % Date: 12/31/2014
Return: 3.82 % Date: 11/30/2014
Return: 8.50 % Date: 10/31/2014
Return: -0.31 % Date: 9/30/2014
Return: 2.77 % Date: 8/31/2014
Return: 3.37 % Date: 7/31/2014
Return: 5.19 % Date: 6/30/2014
Return: 0.34 % Date: 5/31/2014
Return: 0.18 % Date: 4/30/2014
Return: 0.13 % Date: 3/31/2014
Return: -3.61 % Date: 2/28/2014
Return: 1.26 % Date: 1/31/2014
Return: -2.85 % Date: 12/31/2013
Return: 2.33 % Date: 11/30/2013
Return: 3.36 % Date: 10/31/2013
Return: 2.16 % Date: 9/30/2013
Return: 1.06 % Date: 8/31/2013
Return: -3.76 % Date: 7/31/2013
Return: -2.87 % Date: 6/30/2013
Return: 0.35 % Date: 5/31/2013
Return: -0.08 % Date: 4/30/2013
Return: 4.04 % Date: 3/31/2013
Return: 0.69 % Date: 2/28/2013
Return: -0.52 % Date: 1/31/2013
Return: 3.16 % Date: 12/31/2012
Return: 0.63 % Date: 11/30/2012
Return: -1.50 % Date: 10/31/2012
Return: -4.78 % Date: 9/30/2012
Return: -4.51 % Date: 8/31/2012
Return: -1.46 % Date: 7/31/2012
Return: 1.22 % Date: 6/30/2012
Return: -6.02 % Date: 5/31/2012
Return: 6.99 % Date: 4/30/2012
Return: 3.16 % Date: 3/31/2012
Return: -1.51 % Date: 2/29/2012
Return: -2.75 % Date: 1/31/2012
Return: -2.74 % Date: 12/31/2011
Return: 1.32 % Date: 11/30/2011
Return: 0.67 % Date: 10/31/2011
Return: -4.29 % Date: 9/30/2011
Return: -4.08 % Date: 8/31/2011
Return: 1.03 % Date: 7/31/2011
Return: 2.96 % Date: 6/30/2011
Return: -2.32 % Date: 5/31/2011
Return: -2.92 % Date: 4/30/2011
Return: 3.73 % Date: 3/31/2011
Return: -1.43 % Date: 2/28/2011
Return: 3.88 % Date: 1/31/2011
Return: -0.21 % Date: 12/31/2010
Return: 3.07 % Date: 11/30/2010
Return: -1.86 % Date: 10/31/2010
Return: 5.63 % Date: 9/30/2010
Return: 1.80 % Date: 8/31/2010
Return: 9.37 % Date: 7/31/2010
Return: -3.88 % Date: 6/30/2010
Return: -0.62 % Date: 5/31/2010
Return: -3.44 % Date: 4/30/2010
Return: 0.56 % Date: 3/31/2010
Return: 3.52 % Date: 2/28/2010
Return: 2.31 % Date: 1/31/2010
Return: -3.36 % Date: 12/31/2009
Return: -3.99 % Date: 11/30/2009
Return: 8.77 % Date: 10/31/2009
Return: -4.28 % Date: 9/30/2009
Return: 3.31 % Date: 8/31/2009
Return: 4.39 % Date: 7/31/2009
Return: -0.04 % Date: 6/30/2009
Return: 0.27 % Date: 5/31/2009
Return: -2.95 % Date: 4/30/2009
Return: -1.84 % Date: 3/31/2009
Return: -3.63 % Date: 2/28/2009
Return: -0.47 % Date: 1/31/2009
Return: -0.88 % Date: 12/31/2008
Return: 2.23 % Date: 11/30/2008
Return: 2.26 % Date: 10/31/2008
Return: 19.65 % Date: 9/30/2008
Return: 4.26 % Date: 8/31/2008
Return: -3.39 % Date: 7/31/2008
Return: -6.98 % Date: 6/30/2008
Return: 4.26 % Date: 5/31/2008
Return: 1.07 % Date: 4/30/2008
Return: -2.77 % Date: 3/31/2008
Return: -1.19 % Date: 2/29/2008
Return: 18.84 % Date: 1/31/2008
Return: 4.59 % Date: 12/31/2007
Return: 2.27 % Date: 11/30/2007
Return: -1.25 % Date: 10/31/2007
Return: 7.13 % Date: 9/30/2007
Return: 11.52 % Date: 8/31/2007
Return: -3.72 % Date: 7/31/2007
Return: -7.01 % Date: 6/30/2007
Return: 4.44 % Date: 5/31/2007
Return: 5.56 % Date: 4/30/2007
Return: 9.05 % Date: 3/31/2007
Return: -3.03 % Date: 2/28/2007
Return: -6.55 % Date: 1/31/2007
Return: 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.

Distribution of Monthly Returns

Date Range: 01/07 - 10/21
Return: 21.00 %
Count: 1 Return: -11.00 %
Count: 1 Return: 13.00 %
Count: 1 Return: -5.00 %
Count: 6 Return: -6.00 %
Count: 5 Return: 3.00 %
Count: 13 Return: -2.00 %
Count: 12 Return: 20.00 %
Count: 1 Return: 1.00 %
Count: 15 Return: 19.00 %
Count: 1 Return: 5.00 %
Count: 7 Return: 2.00 %
Count: 15 Return: -1.00 %
Count: 13 Return: 7.00 %
Count: 3 Return: 12.00 %
Count: 2 Return: -4.00 %
Count: 12 Return: 4.00 %
Count: 13 Return: 6.00 %
Count: 2 Return: 9.00 %
Count: 5 Return: -3.00 %
Count: 20 Return: -7.00 %
Count: 5 Return: 0.00 %
Count: 26

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: 01/07 - 10/21
Date: 11/30/2021
Drawdown: -11.60 % Date: 10/31/2021
Drawdown: -5.49 % Date: 9/30/2021
Drawdown: -10.01 % Date: 8/31/2021
Drawdown: -12.73 % Date: 7/31/2021
Drawdown: -12.51 % Date: 6/30/2021
Drawdown: -12.51 % Date: 5/31/2021
Drawdown: -9.98 % Date: 4/30/2021
Drawdown: -12.47 % Date: 3/31/2021
Drawdown: -16.19 % Date: 2/28/2021
Drawdown: -15.16 % Date: 1/31/2021
Drawdown: -21.91 % Date: 12/31/2020
Drawdown: -23.21 % Date: 11/30/2020
Drawdown: -31.56 % Date: 10/31/2020
Drawdown: -34.82 % Date: 9/30/2020
Drawdown: -34.90 % Date: 8/31/2020
Drawdown: -30.86 % Date: 7/31/2020
Drawdown: -32.56 % Date: 6/30/2020
Drawdown: -34.05 % Date: 5/31/2020
Drawdown: -32.42 % Date: 4/30/2020
Drawdown: -29.75 % Date: 3/31/2020
Drawdown: -27.58 % Date: 2/29/2020
Drawdown: -40.37 % Date: 1/31/2020
Drawdown: -41.54 % Date: 12/31/2019
Drawdown: -43.50 % Date: 11/30/2019
Drawdown: -44.27 % Date: 10/31/2019
Drawdown: -44.43 % Date: 9/30/2019
Drawdown: -42.59 % Date: 8/31/2019
Drawdown: -38.25 % Date: 7/31/2019
Drawdown: -41.07 % Date: 6/30/2019
Drawdown: -40.05 % Date: 5/31/2019
Drawdown: -39.09 % Date: 4/30/2019
Drawdown: -38.80 % Date: 3/31/2019
Drawdown: -40.05 % Date: 2/28/2019
Drawdown: -40.34 % Date: 1/31/2019
Drawdown: -42.67 % Date: 12/31/2018
Drawdown: -39.70 % Date: 11/30/2018
Drawdown: -41.90 % Date: 10/31/2018
Drawdown: -41.99 % Date: 9/30/2018
Drawdown: -37.68 % Date: 8/31/2018
Drawdown: -38.84 % Date: 7/31/2018
Drawdown: -38.77 % Date: 6/30/2018
Drawdown: -39.01 % Date: 5/31/2018
Drawdown: -38.53 % Date: 4/30/2018
Drawdown: -36.72 % Date: 3/31/2018
Drawdown: -36.79 % Date: 2/28/2018
Drawdown: -35.36 % Date: 1/31/2018
Drawdown: -27.59 % Date: 12/31/2017
Drawdown: -32.31 % Date: 11/30/2017
Drawdown: -33.04 % Date: 10/31/2017
Drawdown: -32.77 % Date: 9/30/2017
Drawdown: -32.52 % Date: 8/31/2017
Drawdown: -30.18 % Date: 7/31/2017
Drawdown: -31.24 % Date: 6/30/2017
Drawdown: -32.56 % Date: 5/31/2017
Drawdown: -31.57 % Date: 4/30/2017
Drawdown: -29.46 % Date: 3/31/2017
Drawdown: -28.87 % Date: 2/28/2017
Drawdown: -26.50 % Date: 1/31/2017
Drawdown: -25.13 % Date: 12/31/2016
Drawdown: -23.97 % Date: 11/30/2016
Drawdown: -23.80 % Date: 10/31/2016
Drawdown: -19.21 % Date: 9/30/2016
Drawdown: -14.99 % Date: 8/31/2016
Drawdown: -12.25 % Date: 7/31/2016
Drawdown: -6.82 % Date: 6/30/2016
Drawdown: -6.56 % Date: 5/31/2016
Drawdown: -11.16 % Date: 4/30/2016
Drawdown: -6.71 % Date: 3/31/2016
Drawdown: -3.60 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: 0.00 % Date: 12/31/2015
Drawdown: -2.55 % Date: 11/30/2015
Drawdown: -1.10 % Date: 10/31/2015
Drawdown: -4.20 % Date: 9/30/2015
Drawdown: -0.24 % Date: 8/31/2015
Drawdown: -0.58 % Date: 7/31/2015
Drawdown: -1.62 % Date: 6/30/2015
Drawdown: -6.57 % Date: 5/31/2015
Drawdown: -4.30 % Date: 4/30/2015
Drawdown: -5.11 % Date: 3/31/2015
Drawdown: -0.43 % Date: 2/28/2015
Drawdown: -1.18 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: 0.00 % Date: 10/31/2014
Drawdown: -6.14 % Date: 9/30/2014
Drawdown: -5.84 % Date: 8/31/2014
Drawdown: -8.38 % Date: 7/31/2014
Drawdown: -11.37 % Date: 6/30/2014
Drawdown: -15.74 % Date: 5/31/2014
Drawdown: -16.03 % Date: 4/30/2014
Drawdown: -16.18 % Date: 3/31/2014
Drawdown: -16.29 % Date: 2/28/2014
Drawdown: -13.15 % Date: 1/31/2014
Drawdown: -14.23 % Date: 12/31/2013
Drawdown: -11.72 % Date: 11/30/2013
Drawdown: -13.73 % Date: 10/31/2013
Drawdown: -16.53 % Date: 9/30/2013
Drawdown: -18.30 % Date: 8/31/2013
Drawdown: -19.15 % Date: 7/31/2013
Drawdown: -15.99 % Date: 6/30/2013
Drawdown: -13.51 % Date: 5/31/2013
Drawdown: -13.81 % Date: 4/30/2013
Drawdown: -13.74 % Date: 3/31/2013
Drawdown: -17.09 % Date: 2/28/2013
Drawdown: -17.66 % Date: 1/31/2013
Drawdown: -17.23 % Date: 12/31/2012
Drawdown: -19.77 % Date: 11/30/2012
Drawdown: -20.27 % Date: 10/31/2012
Drawdown: -19.06 % Date: 9/30/2012
Drawdown: -14.99 % Date: 8/31/2012
Drawdown: -10.98 % Date: 7/31/2012
Drawdown: -9.66 % Date: 6/30/2012
Drawdown: -10.75 % Date: 5/31/2012
Drawdown: -5.03 % Date: 4/30/2012
Drawdown: -11.23 % Date: 3/31/2012
Drawdown: -13.95 % Date: 2/29/2012
Drawdown: -12.63 % Date: 1/31/2012
Drawdown: -10.16 % Date: 12/31/2011
Drawdown: -7.63 % Date: 11/30/2011
Drawdown: -8.84 % Date: 10/31/2011
Drawdown: -9.44 % Date: 9/30/2011
Drawdown: -5.38 % Date: 8/31/2011
Drawdown: -1.36 % Date: 7/31/2011
Drawdown: -2.37 % Date: 6/30/2011
Drawdown: -5.17 % Date: 5/31/2011
Drawdown: -2.92 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -1.43 % Date: 2/28/2011
Drawdown: 0.00 % Date: 1/31/2011
Drawdown: -0.21 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -1.86 % Date: 10/31/2010
Drawdown: 0.00 % Date: 9/30/2010
Drawdown: 0.00 % Date: 8/31/2010
Drawdown: -0.31 % Date: 7/31/2010
Drawdown: -8.85 % Date: 6/30/2010
Drawdown: -5.17 % Date: 5/31/2010
Drawdown: -4.58 % Date: 4/30/2010
Drawdown: -1.18 % Date: 3/31/2010
Drawdown: -1.73 % Date: 2/28/2010
Drawdown: -5.07 % Date: 1/31/2010
Drawdown: -7.22 % Date: 12/31/2009
Drawdown: -3.99 % Date: 11/30/2009
Drawdown: 0.00 % Date: 10/31/2009
Drawdown: -6.29 % Date: 9/30/2009
Drawdown: -2.10 % Date: 8/31/2009
Drawdown: -5.24 % Date: 7/31/2009
Drawdown: -9.22 % Date: 6/30/2009
Drawdown: -9.18 % Date: 5/31/2009
Drawdown: -9.43 % Date: 4/30/2009
Drawdown: -6.68 % Date: 3/31/2009
Drawdown: -4.93 % Date: 2/28/2009
Drawdown: -1.35 % Date: 1/31/2009
Drawdown: -0.88 % 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: -6.31 % Date: 8/31/2008
Drawdown: -10.13 % Date: 7/31/2008
Drawdown: -6.98 % Date: 6/30/2008
Drawdown: 0.00 % Date: 5/31/2008
Drawdown: -2.90 % Date: 4/30/2008
Drawdown: -3.93 % Date: 3/31/2008
Drawdown: -1.19 % 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: -1.25 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: -0.16 % Date: 8/31/2007
Drawdown: -10.47 % Date: 7/31/2007
Drawdown: -7.01 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: -1.18 % Date: 3/31/2007
Drawdown: -9.38 % Date: 2/28/2007
Drawdown: -6.55 %

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:  WaveFront Global Asset Management Corp
Address: 36 Toronto St, Suite 750
City: Toronto
State: ON
Zip: M5C 2C5
Country: Canada

Key People

Name:  Robert Koloshuk
Position:  Principal
Biography: 

Mr. Koloshuk has been registered with the CFTC as an associated person since June, 2004, and is an associate member of the National Futures Association. Mr. Koloshuk has been conducting research exclusive to the Managed Futures industry since September of 2002, and he has been working extensively in collaboration with Professor Kolkiewiez at the University of Waterloo for the past five years. Mr. Koloshuk is also a computer programmer and a trade execution and account management supervisor. Mr. Koloshuk holds a B.A. (Honours Philosophy) from the University of Guelph, where he specialized in Machine Functionalism.


Name:  David Mather
Position:  Principal
Biography: 

Vice-President, Director and Principal, Integrated Managed Futures Corp. since 2003, President & Chief Operating Officer since June, 2011. Registered with the CFTC as an Associated Person since March, 2010. Associate Member of the National Futures Association. Member of the MFA. Executive Vice President, Integrated Asset Management Corp. since 2001, Director since 2004. Director, River Plate House Capital Management Inc. Previously Managing Director, SEI Investments, and Managing Director, Fidelity Group Pensions. Senior Vice-President, Elliott & Page, 1990-1997. Vice-President, Crown Life Investment Management, 1983-1990. Past Chair, Board of Governors, Royal St .George's College, Treasurer & Director, Royal St. George’s College Foundation, Treasurer, Director and Chair, Investment Committee, Boys and Girls Clubs of Canada Foundation, Chair, Investment Committee, Heart and Stroke Foundation of Ontario, Chair, Pension Committee, Heart and Stroke Foundation of Canada. Past director Genesis Research Foundation and past Chair and director of Toronto Brigantine Inc. B.A. (Honours), University of Waterloo, M.A., University of Waterloo.


Name:  Roland Austrup
Position:  Principal
Biography: 

Mr. Austrup has been the Chief Executive Officer, Chief Investment Officer and a Director of IMFC since June 9, 2003. Mr. Austrup is responsible for strategic planning and development and enhancement of the trading programs. Mr. Austrup has been registered with the CFTC in the United States as an Associated Person and Principal of the Advisor since June 2003 and with the OSC as an Advisor since February 1999. Mr. Austrup is an Associate Member of the NFA and a member of the Managed Funds Association. He is a director of the Master of Quantitative Finance program at the University of Waterloo. B.A. (Hons.), University of Western Ontario.


Name:  Stephen Johnson
Position:  Principal
Biography: 

Mr. Johnson has been Chairman, Director, and listed principal of IMFC since June 2003. He is a Director of IMFC and also provides financial oversight and advice. Mr. Johnson has acted as CFO and Director of both Integrated Asset Management Corp. (“IAM”) since June, 1999 and BluMont Capital Inc. since December 2000, and since July 2001 has served as a Senior Vice-President, at Integrated Partners (a wholly-owned subsidiary of IAM that undertakes private equity investments) where Mr. Johnson monitors and oversees the firm’s various portfolio investments. He has also served Vice-President of Koloshuk Farrugia Corp., a holding company for Messrs Koloshuk’s and Johnson’s equity interest in IAM since February, 1989. He was also a Director of Independent Equity Research Corp., a firm providing independent equity research to investors from June, 1999 to December 2008. Mr. Johnson has a B.Sc. Hons. (Econ) from Southampton University, and is both a Chartered Accountant (Scotland), Chartered Accountant and Chartered Business Valuator.


Name:  Veronika Hirsch
Position:  Principal
Biography: 

Veronika Hirsch, B.Comm., FLMI, has been a listed principal of IMFC since June 2003. Since June 1998, Ms. Hirsch has also been Chief Investment Officer and a Director of Blumont Capital Corporation, a subsidiary and principal of Integrated Asset Management Corp. Ms. Hirsch is also a Director of Integrated Asset Management Corp. since June 1998 and as such, has the normal oversight responsibilities of a director of a Canadian public company. Ms. Hirsch holds a B. Comm. From McGill University and is a Fellow, Life Management Institute.


Name:  Victor Koloshuk, MBA, CFA
Position:  Principal
Biography: 

Victor Koloshuk, B.Sc., M.B.A., CFA, has been a listed principal of IMFC since June 2003. He provides strategic direction to IMFC. Mr. Koloshuk is also Chairman, President, Chief Executive Officer, founder and a Director of Integrated Asset Management Corp.(IAM) since March 1998, co-founder and Chairman of Integrated Partners, and co-founder, Chairman, President, Chief Executive Officer and a Director of Koloshuk Farrugia Corp. since June 1988. Mr. Koloshuk holds a B.Sc. and M.B.A. from McGill University and is a Chartered Financial Analyst (CFA).


Name:  Bryan Chuah, B.Sc.
Position:  Director
Biography: 

Bryan joined IMFC in June, 2009. Prior to joining IMFC, Mr. Chuah was a proprietary equity trader with Vibe Equities in Edmonton. Bryan is a candidate for a Masters in Quantitative Finance at the University of Waterloo. He has been registered with the CFTC as an Associated Person since October 2009, and is an associate member of the National Futures Association. B.Sc., University of Alberta.


Name:  Paul Patterson, B.A., J.D, M.B.A., CAIA
Position:  Director
Biography: 

Paul has been registered with the CFTC as an Associated Person since April, 2011 and is an associate member of the National Futures Association. Paul joined Integrated Asset Management in 2008 as Vice-President, Private Investment. For the 4 years prior to that, he was Associate Vice-President, Institutional and Offshore at BluMont Capital, a wholly-owned subsidiary of IAM. Prior to joining BluMont, Paul practiced corporate and securities law with Lang Michener LLP and served as legal and policy counsel with the Toronto Stock Exchange. Paul is past President of the Boys and Girls Clubs of Ontario. Paul has a B.A. in political science from Carleton University, a J.D. from the University of Toronto and an M.B.A. from Northwestern University’s J. L. Kellogg School of Management. Called to the Ontario Bar in February, 1999. He is a CAIA charterholder.


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
 Trend Following Yes 
 Systematic Yes 
 Diversified Yes 
 Quantitative Analysis Yes 
 Instruments Traded
 Futures Yes 
 Listed Options Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Long Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $2,000,000 
 Margin / Equity Ratio: 12% 
 Managed Account Availability: Open 
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