Adalpha Asset Management LLC

Adalpha Diversified Short-Term *PROP* *QEP*


Monthly Performance (%)

Date Range: 03/03 - 10/20
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2020 -0.02 2.51 4.92 -4.34 -0.82 4.64 0.44 -1.89 -3.45 -0.90   0.66 
2019 1.63 0.25 1.11 2.58 0.98 -0.32 1.44 5.88 -2.85 0.10 0.60 0.68  12.52 
2018 4.66 1.98 0.47 1.61 -0.55 1.64 -1.37 2.56 0.74 4.13 -0.80 -0.41  15.46 
2017 -3.38 -3.52 4.96 1.26 3.07 -0.02 4.94 -5.09 2.26 -1.67 -1.47 2.55  3.31 
2016 7.16 0.60 5.15 0.27 -1.06 2.77 -2.07 -0.43 -2.27 -0.96 -0.52 -0.09  8.41 
2015 1.51 0.34 1.26 -1.53 0.68 -1.61 1.94 -2.50 -0.60 -0.90 -0.66 -2.10  -4.21 
2014 0.51 0.49 -1.28 -3.29 1.93 2.93 -1.06 -1.29 6.52 3.34 1.76 0.15  10.84 
2013 -0.11 3.00 -0.85 1.61 1.04 -2.35 -1.38 0.84 1.98 3.69 -0.96 0.72  7.28 
2012 -1.91 -2.23 -1.38 -1.04 4.62 2.80 -2.90 -1.91 0.37 -4.02 6.25 -1.52  -3.36 
2011 -0.41 1.35 -4.67 2.32 0.75 -1.34 1.86 4.62 2.96 -2.28 -1.67 1.69  4.92 
2010 0.07 -3.41 -0.49 -1.07 7.39 -0.27 0.41 0.64 1.59 -0.44 -2.23 -1.76  0.05 
2009 -1.54 1.11 1.06 0.61 5.54 -3.61 -2.59 0.95 -0.94 0.64 4.27 -2.09  3.06 
2008 -0.58 5.99 0.65 -1.70 0.69 0.29 -1.52 3.75 -2.55 19.78 0.90 0.15  26.88 
2007 2.88 -5.25 -3.56 3.88 2.46 2.86 -0.20 -8.61 2.41 7.45 2.32 -0.26  5.42 
2006 3.26 -0.24 6.47 2.50 -2.71 1.92 0.66 1.28 -0.58 1.37 -0.51 1.06  15.16 
2005 -3.31 -5.71 0.95 -3.42 5.65 7.04 3.48 -2.16 2.51 -3.58 5.51 2.78  9.08 
2004 6.17 4.18 1.84 1.44 5.10 -1.52 0.83 -5.01 5.47 -3.21 6.47 -2.60  19.92 
2003 -0.85 1.68 -7.85 -1.38 5.53 4.57 8.36 1.77 7.30  19.64 

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

Adalpha Asset Management, LLC is an alternative investment management company that employs an institutional quality futures program designed to consistently produce high absolute returns adjusted for risk. The program is diversified, short-term and 100% systematic. It utilizes multiple momentum-based systems which incorporate price, time, volatility and pattern recognition into its dynamic models. These elements are combined to generate high probability directional trading signals, which attempt to capitalize on the many short-term trends that are present in most types of market environments. Qualified investors have the potential to achieve superior capital appreciation with sound risk management and low correlation to traditional investments, regardless of the overall direction of individual markets or asset classes.

Performance Statistics

Date Range: 03/03 - 10/20
  Program S&P 500 Coquest 40 
Total Return 320.47% 456.97% 51.69% 
Annualized Return 8.51% 10.21% 2.39% 
Annualized Std. Deviation 11.24% 14.13% 8.95% 
Correlation -0.16 0.38 
Sharpe Ratio (rf=2.5%) 0.53 0.55 -0.01 
Worst Month -8.61% -16.79% -6.22% 
Date of Worst Month 08/2007 10/2008 04/2004 
Worst Drawdown -13.42% -50.95% -15.74% 
Date of Worst Drawdown 11/04 - 4/05 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: 03/03 - 10/20
Year or YTD Program S&P 500 Coquest 40 
2020 0.66 2.77 -3.54 
2019 12.52 31.50 7.53 
2018 15.46 -4.38 -4.29 
2017 3.31 21.84 1.24 
2016 8.41 11.98 -3.13 
2015 -4.21 1.41 0.09 
2014 10.84 13.69 15.75 
2013 7.28 32.41 -2.45 
2012 -3.36 15.98 -4.75 
2011 4.92 2.12 -3.23 
2010 0.05 15.06 11.33 
2009 3.06 26.45 -7.98 
2008 26.88 -36.99 15.47 
2007 5.42 5.50 7.18 
2006 15.16 15.79 6.70 
2005 9.08 4.89 4.51 
2004 19.92 10.87 2.57 
2003 19.64 32.88 9.39 

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: 03/03 - 10/20
Date: 10/31/2020
Perf: $1,608.95 Date: 9/30/2020
Perf: $1,614.12 Date: 8/31/2020
Perf: $1,638.03 Date: 7/31/2020
Perf: $1,656.75 Date: 6/30/2020
Perf: $1,625.70 Date: 5/31/2020
Perf: $1,646.78 Date: 4/30/2020
Perf: $1,666.28 Date: 3/31/2020
Perf: $1,660.80 Date: 2/29/2020
Perf: $1,659.80 Date: 1/31/2020
Perf: $1,684.91 Date: 12/31/2019
Perf: $1,668.06 Date: 11/30/2019
Perf: $1,678.47 Date: 10/31/2019
Perf: $1,662.18 Date: 9/30/2019
Perf: $1,699.74 Date: 8/31/2019
Perf: $1,748.16 Date: 7/31/2019
Perf: $1,687.09 Date: 6/30/2019
Perf: $1,631.46 Date: 5/31/2019
Perf: $1,599.47 Date: 4/30/2019
Perf: $1,631.45 Date: 3/31/2019
Perf: $1,587.78 Date: 2/28/2019
Perf: $1,532.76 Date: 1/31/2019
Perf: $1,523.01 Date: 12/31/2018
Perf: $1,551.24 Date: 11/30/2018
Perf: $1,544.75 Date: 10/31/2018
Perf: $1,563.52 Date: 9/30/2018
Perf: $1,603.11 Date: 8/31/2018
Perf: $1,610.36 Date: 7/31/2018
Perf: $1,570.32 Date: 6/30/2018
Perf: $1,582.18 Date: 5/31/2018
Perf: $1,569.00 Date: 4/30/2018
Perf: $1,589.51 Date: 3/31/2018
Perf: $1,572.52 Date: 2/28/2018
Perf: $1,573.94 Date: 1/31/2018
Perf: $1,676.19 Date: 12/31/2017
Perf: $1,620.76 Date: 11/30/2017
Perf: $1,603.28 Date: 10/31/2017
Perf: $1,601.20 Date: 9/30/2017
Perf: $1,536.81 Date: 8/31/2017
Perf: $1,569.93 Date: 7/31/2017
Perf: $1,544.30 Date: 6/30/2017
Perf: $1,538.30 Date: 5/31/2017
Perf: $1,584.57 Date: 4/30/2017
Perf: $1,581.56 Date: 3/31/2017
Perf: $1,591.11 Date: 2/28/2017
Perf: $1,614.69 Date: 1/31/2017
Perf: $1,580.24 Date: 12/31/2016
Perf: $1,600.89 Date: 11/30/2016
Perf: $1,588.81 Date: 10/31/2016
Perf: $1,606.48 Date: 9/30/2016
Perf: $1,649.03 Date: 8/31/2016
Perf: $1,670.58 Date: 7/31/2016
Perf: $1,716.76 Date: 6/30/2016
Perf: $1,699.43 Date: 5/31/2016
Perf: $1,630.14 Date: 4/30/2016
Perf: $1,659.18 Date: 3/31/2016
Perf: $1,701.90 Date: 2/29/2016
Perf: $1,752.19 Date: 1/31/2016
Perf: $1,710.12 Date: 12/31/2015
Perf: $1,652.61 Date: 11/30/2015
Perf: $1,691.51 Date: 10/31/2015
Perf: $1,635.73 Date: 9/30/2015
Perf: $1,664.70 Date: 8/31/2015
Perf: $1,629.34 Date: 7/31/2015
Perf: $1,658.03 Date: 6/30/2015
Perf: $1,595.64 Date: 5/31/2015
Perf: $1,683.16 Date: 4/30/2015
Perf: $1,695.37 Date: 3/31/2015
Perf: $1,763.44 Date: 2/28/2015
Perf: $1,725.31 Date: 1/31/2015
Perf: $1,728.07 Date: 12/31/2014
Perf: $1,651.13 Date: 11/30/2014
Perf: $1,622.57 Date: 10/31/2014
Perf: $1,531.45 Date: 9/30/2014
Perf: $1,509.26 Date: 8/31/2014
Perf: $1,487.11 Date: 7/31/2014
Perf: $1,426.75 Date: 6/30/2014
Perf: $1,438.26 Date: 5/31/2014
Perf: $1,426.00 Date: 4/30/2014
Perf: $1,390.40 Date: 3/31/2014
Perf: $1,379.92 Date: 2/28/2014
Perf: $1,400.64 Date: 1/31/2014
Perf: $1,389.25 Date: 12/31/2013
Perf: $1,426.48 Date: 11/30/2013
Perf: $1,428.48 Date: 10/31/2013
Perf: $1,403.09 Date: 9/30/2013
Perf: $1,371.68 Date: 8/31/2013
Perf: $1,379.96 Date: 7/31/2013
Perf: $1,406.97 Date: 6/30/2013
Perf: $1,419.32 Date: 5/31/2013
Perf: $1,475.23 Date: 4/30/2013
Perf: $1,541.51 Date: 3/31/2013
Perf: $1,502.74 Date: 2/28/2013
Perf: $1,481.41 Date: 1/31/2013
Perf: $1,490.05 Date: 12/31/2012
Perf: $1,462.27 Date: 11/30/2012
Perf: $1,455.14 Date: 10/31/2012
Perf: $1,451.08 Date: 9/30/2012
Perf: $1,505.58 Date: 8/31/2012
Perf: $1,530.84 Date: 7/31/2012
Perf: $1,551.94 Date: 6/30/2012
Perf: $1,490.96 Date: 5/31/2012
Perf: $1,549.21 Date: 4/30/2012
Perf: $1,520.33 Date: 3/31/2012
Perf: $1,511.26 Date: 2/29/2012
Perf: $1,546.36 Date: 1/31/2012
Perf: $1,540.05 Date: 12/31/2011
Perf: $1,535.14 Date: 11/30/2011
Perf: $1,520.54 Date: 10/31/2011
Perf: $1,515.99 Date: 9/30/2011
Perf: $1,578.50 Date: 8/31/2011
Perf: $1,579.45 Date: 7/31/2011
Perf: $1,582.61 Date: 6/30/2011
Perf: $1,527.77 Date: 5/31/2011
Perf: $1,568.55 Date: 4/30/2011
Perf: $1,627.97 Date: 3/31/2011
Perf: $1,566.86 Date: 2/28/2011
Perf: $1,591.21 Date: 1/31/2011
Perf: $1,564.61 Date: 12/31/2010
Perf: $1,586.34 Date: 11/30/2010
Perf: $1,521.09 Date: 10/31/2010
Perf: $1,576.91 Date: 9/30/2010
Perf: $1,518.01 Date: 8/31/2010
Perf: $1,490.88 Date: 7/31/2010
Perf: $1,431.61 Date: 6/30/2010
Perf: $1,450.32 Date: 5/31/2010
Perf: $1,444.83 Date: 4/30/2010
Perf: $1,480.66 Date: 3/31/2010
Perf: $1,458.20 Date: 2/28/2010
Perf: $1,402.52 Date: 1/31/2010
Perf: $1,389.46 Date: 12/31/2009
Perf: $1,424.94 Date: 11/30/2009
Perf: $1,484.32 Date: 10/31/2009
Perf: $1,426.81 Date: 9/30/2009
Perf: $1,464.30 Date: 8/31/2009
Perf: $1,430.26 Date: 7/31/2009
Perf: $1,425.56 Date: 6/30/2009
Perf: $1,427.13 Date: 5/31/2009
Perf: $1,466.13 Date: 4/30/2009
Perf: $1,446.17 Date: 3/31/2009
Perf: $1,495.06 Date: 2/28/2009
Perf: $1,537.65 Date: 1/31/2009
Perf: $1,538.42 Date: 12/31/2008
Perf: $1,548.48 Date: 11/30/2008
Perf: $1,509.68 Date: 10/31/2008
Perf: $1,456.24 Date: 9/30/2008
Perf: $1,384.92 Date: 8/31/2008
Perf: $1,382.02 Date: 7/31/2008
Perf: $1,419.93 Date: 6/30/2008
Perf: $1,488.24 Date: 5/31/2008
Perf: $1,449.53 Date: 4/30/2008
Perf: $1,420.28 Date: 3/31/2008
Perf: $1,436.80 Date: 2/29/2008
Perf: $1,443.15 Date: 1/31/2008
Perf: $1,365.46 Date: 12/31/2007
Perf: $1,341.05 Date: 11/30/2007
Perf: $1,344.14 Date: 10/31/2007
Perf: $1,352.93 Date: 9/30/2007
Perf: $1,297.03 Date: 8/31/2007
Perf: $1,239.16 Date: 7/31/2007
Perf: $1,287.17 Date: 6/30/2007
Perf: $1,328.22 Date: 5/31/2007
Perf: $1,290.91 Date: 4/30/2007
Perf: $1,246.41 Date: 3/31/2007
Perf: $1,196.17 Date: 2/28/2007
Perf: $1,224.83 Date: 1/31/2007
Perf: $1,272.56 Date: 12/31/2006
Perf: $1,251.16 Date: 11/30/2006
Perf: $1,210.25 Date: 10/31/2006
Perf: $1,181.31 Date: 9/30/2006
Perf: $1,168.46 Date: 8/31/2006
Perf: $1,180.98 Date: 7/31/2006
Perf: $1,167.90 Date: 6/30/2006
Perf: $1,185.44 Date: 5/31/2006
Perf: $1,201.91 Date: 4/30/2006
Perf: $1,234.62 Date: 3/31/2006
Perf: $1,205.22 Date: 2/28/2006
Perf: $1,173.76 Date: 1/31/2006
Perf: $1,195.03 Date: 12/31/2005
Perf: $1,172.63 Date: 11/30/2005
Perf: $1,194.25 Date: 10/31/2005
Perf: $1,145.12 Date: 9/30/2005
Perf: $1,143.30 Date: 8/31/2005
Perf: $1,125.96 Date: 7/31/2005
Perf: $1,119.91 Date: 6/30/2005
Perf: $1,119.24 Date: 5/31/2005
Perf: $1,082.33 Date: 4/30/2005
Perf: $1,049.89 Date: 3/31/2005
Perf: $1,076.26 Date: 2/28/2005
Perf: $1,082.32 Date: 1/31/2005
Perf: $1,074.90 Date: 12/31/2004
Perf: $1,122.03 Date: 11/30/2004
Perf: $1,118.33 Date: 10/31/2004
Perf: $1,060.94 Date: 9/30/2004
Perf: $1,025.85 Date: 8/31/2004
Perf: $1,012.19 Date: 7/31/2004
Perf: $1,019.22 Date: 6/30/2004
Perf: $1,030.98 Date: 5/31/2004
Perf: $1,066.16 Date: 4/30/2004
Perf: $1,083.38 Date: 3/31/2004
Perf: $1,155.24 Date: 2/29/2004
Perf: $1,166.67 Date: 1/31/2004
Perf: $1,104.39 Date: 12/31/2003
Perf: $1,093.88 Date: 11/30/2003
Perf: $1,048.49 Date: 10/31/2003
Perf: $1,051.64 Date: 9/30/2003
Perf: $1,028.50 Date: 8/31/2003
Perf: $1,033.25 Date: 7/31/2003
Perf: $1,023.63 Date: 6/30/2003
Perf: $1,047.30 Date: 5/31/2003
Perf: $1,074.26 Date: 4/30/2003
Perf: $1,014.70 Date: 3/31/2003
Perf: $1,000.00 Date: 10/31/2020
Perf: $5,516.16 Date: 9/30/2020
Perf: $5,666.90 Date: 8/31/2020
Perf: $5,890.75 Date: 7/31/2020
Perf: $5,495.62 Date: 6/30/2020
Perf: $5,202.21 Date: 5/31/2020
Perf: $5,100.71 Date: 4/30/2020
Perf: $4,868.95 Date: 3/31/2020
Perf: $4,315.68 Date: 2/29/2020
Perf: $4,923.76 Date: 1/31/2020
Perf: $5,365.33 Date: 12/31/2019
Perf: $5,367.47 Date: 11/30/2019
Perf: $5,210.13 Date: 10/31/2019
Perf: $5,027.62 Date: 9/30/2019
Perf: $4,920.84 Date: 8/31/2019
Perf: $4,830.51 Date: 7/31/2019
Perf: $4,908.06 Date: 6/30/2019
Perf: $4,838.39 Date: 5/31/2019
Perf: $4,519.74 Date: 4/30/2019
Perf: $4,826.21 Date: 3/31/2019
Perf: $4,638.36 Date: 2/28/2019
Perf: $4,550.08 Date: 1/31/2019
Perf: $4,408.57 Date: 12/31/2018
Perf: $4,081.63 Date: 11/30/2018
Perf: $4,486.79 Date: 10/31/2018
Perf: $4,397.09 Date: 9/30/2018
Perf: $4,719.93 Date: 8/31/2018
Perf: $4,693.18 Date: 7/31/2018
Perf: $4,545.01 Date: 6/30/2018
Perf: $4,382.00 Date: 5/31/2018
Perf: $4,355.00 Date: 4/30/2018
Perf: $4,252.51 Date: 3/31/2018
Perf: $4,236.42 Date: 2/28/2018
Perf: $4,346.82 Date: 1/31/2018
Perf: $4,513.37 Date: 12/31/2017
Perf: $4,268.77 Date: 11/30/2017
Perf: $4,221.90 Date: 10/31/2017
Perf: $4,096.15 Date: 9/30/2017
Perf: $4,002.89 Date: 8/31/2017
Perf: $3,922.09 Date: 7/31/2017
Perf: $3,909.97 Date: 6/30/2017
Perf: $3,831.05 Date: 5/31/2017
Perf: $3,807.44 Date: 4/30/2017
Perf: $3,754.51 Date: 3/31/2017
Perf: $3,716.23 Date: 2/28/2017
Perf: $3,711.77 Date: 1/31/2017
Perf: $3,570.04 Date: 12/31/2016
Perf: $3,503.48 Date: 11/30/2016
Perf: $3,435.46 Date: 10/31/2016
Perf: $3,312.88 Date: 9/30/2016
Perf: $3,374.29 Date: 8/31/2016
Perf: $3,373.62 Date: 7/31/2016
Perf: $3,368.90 Date: 6/30/2016
Perf: $3,249.01 Date: 5/31/2016
Perf: $3,240.59 Date: 4/30/2016
Perf: $3,183.29 Date: 3/31/2016
Perf: $3,170.92 Date: 2/29/2016
Perf: $2,969.58 Date: 1/31/2016
Perf: $2,973.45 Date: 12/31/2015
Perf: $3,128.63 Date: 11/30/2015
Perf: $3,178.85 Date: 10/31/2015
Perf: $3,169.35 Date: 9/30/2015
Perf: $2,922.67 Date: 8/31/2015
Perf: $2,996.69 Date: 7/31/2015
Perf: $3,188.99 Date: 6/30/2015
Perf: $3,123.39 Date: 5/31/2015
Perf: $3,185.19 Date: 4/30/2015
Perf: $3,144.62 Date: 3/31/2015
Perf: $3,114.72 Date: 2/28/2015
Perf: $3,164.72 Date: 1/31/2015
Perf: $2,992.65 Date: 12/31/2014
Perf: $3,085.20 Date: 11/30/2014
Perf: $3,092.93 Date: 10/31/2014
Perf: $3,011.91 Date: 9/30/2014
Perf: $2,940.17 Date: 8/31/2014
Perf: $2,981.92 Date: 7/31/2014
Perf: $2,867.23 Date: 6/30/2014
Perf: $2,907.35 Date: 5/31/2014
Perf: $2,848.39 Date: 4/30/2014
Perf: $2,782.99 Date: 3/31/2014
Perf: $2,762.55 Date: 2/28/2014
Perf: $2,739.54 Date: 1/31/2014
Perf: $2,619.81 Date: 12/31/2013
Perf: $2,713.70 Date: 11/30/2013
Perf: $2,646.74 Date: 10/31/2013
Perf: $2,568.41 Date: 9/30/2013
Perf: $2,455.45 Date: 8/31/2013
Perf: $2,380.70 Date: 7/31/2013
Perf: $2,451.80 Date: 6/30/2013
Perf: $2,333.05 Date: 5/31/2013
Perf: $2,364.74 Date: 4/30/2013
Perf: $2,310.67 Date: 3/31/2013
Perf: $2,266.92 Date: 2/28/2013
Perf: $2,184.98 Date: 1/31/2013
Perf: $2,155.66 Date: 12/31/2012
Perf: $2,049.50 Date: 11/30/2012
Perf: $2,031.02 Date: 10/31/2012
Perf: $2,019.30 Date: 9/30/2012
Perf: $2,057.37 Date: 8/31/2012
Perf: $2,005.62 Date: 7/31/2012
Perf: $1,961.49 Date: 6/30/2012
Perf: $1,934.60 Date: 5/31/2012
Perf: $1,858.05 Date: 4/30/2012
Perf: $1,976.85 Date: 3/31/2012
Perf: $1,989.39 Date: 2/29/2012
Perf: $1,926.02 Date: 1/31/2012
Perf: $1,846.26 Date: 12/31/2011
Perf: $1,767.10 Date: 11/30/2011
Perf: $1,749.25 Date: 10/31/2011
Perf: $1,753.11 Date: 9/30/2011
Perf: $1,580.38 Date: 8/31/2011
Perf: $1,699.88 Date: 7/31/2011
Perf: $1,797.48 Date: 6/30/2011
Perf: $1,834.73 Date: 5/31/2011
Perf: $1,865.89 Date: 4/30/2011
Perf: $1,887.21 Date: 3/31/2011
Perf: $1,832.96 Date: 2/28/2011
Perf: $1,832.22 Date: 1/31/2011
Perf: $1,771.46 Date: 12/31/2010
Perf: $1,730.45 Date: 11/30/2010
Perf: $1,622.09 Date: 10/31/2010
Perf: $1,621.93 Date: 9/30/2010
Perf: $1,562.40 Date: 8/31/2010
Perf: $1,434.45 Date: 7/31/2010
Perf: $1,502.20 Date: 6/30/2010
Perf: $1,403.79 Date: 5/31/2010
Perf: $1,481.26 Date: 4/30/2010
Perf: $1,609.90 Date: 3/31/2010
Perf: $1,584.85 Date: 2/28/2010
Perf: $1,494.72 Date: 1/31/2010
Perf: $1,449.78 Date: 12/31/2009
Perf: $1,503.92 Date: 11/30/2009
Perf: $1,475.44 Date: 10/31/2009
Perf: $1,391.93 Date: 9/30/2009
Perf: $1,418.31 Date: 8/31/2009
Perf: $1,367.31 Date: 7/31/2009
Perf: $1,319.67 Date: 6/30/2009
Perf: $1,226.91 Date: 5/31/2009
Perf: $1,224.47 Date: 4/30/2009
Perf: $1,159.64 Date: 3/31/2009
Perf: $1,058.36 Date: 2/28/2009
Perf: $973.11 Date: 1/31/2009
Perf: $1,089.10 Date: 12/31/2008
Perf: $1,189.36 Date: 11/30/2008
Perf: $1,176.89 Date: 10/31/2008
Perf: $1,267.93 Date: 9/30/2008
Perf: $1,523.77 Date: 8/31/2008
Perf: $1,672.82 Date: 7/31/2008
Perf: $1,648.91 Date: 6/30/2008
Perf: $1,662.87 Date: 5/31/2008
Perf: $1,815.96 Date: 4/30/2008
Perf: $1,792.66 Date: 3/31/2008
Perf: $1,709.41 Date: 2/29/2008
Perf: $1,716.79 Date: 1/31/2008
Perf: $1,774.46 Date: 12/31/2007
Perf: $1,887.72 Date: 11/30/2007
Perf: $1,900.84 Date: 10/31/2007
Perf: $1,983.76 Date: 9/30/2007
Perf: $1,952.71 Date: 8/31/2007
Perf: $1,882.31 Date: 7/31/2007
Perf: $1,854.50 Date: 6/30/2007
Perf: $1,913.82 Date: 5/31/2007
Perf: $1,946.13 Date: 4/30/2007
Perf: $1,880.50 Date: 3/31/2007
Perf: $1,800.73 Date: 2/28/2007
Perf: $1,780.78 Date: 1/31/2007
Perf: $1,816.38 Date: 12/31/2006
Perf: $1,789.37 Date: 11/30/2006
Perf: $1,764.66 Date: 10/31/2006
Perf: $1,731.76 Date: 9/30/2006
Perf: $1,677.08 Date: 8/31/2006
Perf: $1,634.90 Date: 7/31/2006
Perf: $1,596.90 Date: 6/30/2006
Perf: $1,587.06 Date: 5/31/2006
Perf: $1,584.84 Date: 4/30/2006
Perf: $1,631.84 Date: 3/31/2006
Perf: $1,610.26 Date: 2/28/2006
Perf: $1,590.54 Date: 1/31/2006
Perf: $1,586.25 Date: 12/31/2005
Perf: $1,545.30 Date: 11/30/2005
Perf: $1,544.84 Date: 10/31/2005
Perf: $1,488.57 Date: 9/30/2005
Perf: $1,513.85 Date: 8/31/2005
Perf: $1,501.69 Date: 7/31/2005
Perf: $1,515.48 Date: 6/30/2005
Perf: $1,461.13 Date: 5/31/2005
Perf: $1,459.08 Date: 4/30/2005
Perf: $1,414.11 Date: 3/31/2005
Perf: $1,441.50 Date: 2/28/2005
Perf: $1,467.48 Date: 1/31/2005
Perf: $1,437.29 Date: 12/31/2004
Perf: $1,473.24 Date: 11/30/2004
Perf: $1,424.80 Date: 10/31/2004
Perf: $1,369.34 Date: 9/30/2004
Perf: $1,348.70 Date: 8/31/2004
Perf: $1,334.29 Date: 7/31/2004
Perf: $1,328.98 Date: 6/30/2004
Perf: $1,374.47 Date: 5/31/2004
Perf: $1,348.32 Date: 4/30/2004
Perf: $1,330.09 Date: 3/31/2004
Perf: $1,351.31 Date: 2/29/2004
Perf: $1,372.03 Date: 1/31/2004
Perf: $1,353.22 Date: 12/31/2003
Perf: $1,328.77 Date: 11/30/2003
Perf: $1,262.61 Date: 10/31/2003
Perf: $1,251.59 Date: 9/30/2003
Perf: $1,184.55 Date: 8/31/2003
Perf: $1,197.24 Date: 7/31/2003
Perf: $1,174.34 Date: 6/30/2003
Perf: $1,154.03 Date: 5/31/2003
Perf: $1,139.44 Date: 4/30/2003
Perf: $1,082.40 Date: 3/31/2003
Perf: $1,000.00 Date: 10/31/2020
Perf: $4,204.65 Date: 9/30/2020
Perf: $4,242.84 Date: 8/31/2020
Perf: $4,394.45 Date: 7/31/2020
Perf: $4,479.10 Date: 6/30/2020
Perf: $4,459.48 Date: 5/31/2020
Perf: $4,261.74 Date: 4/30/2020
Perf: $4,296.97 Date: 3/31/2020
Perf: $4,491.92 Date: 2/29/2020
Perf: $4,281.28 Date: 1/31/2020
Perf: $4,176.45 Date: 12/31/2019
Perf: $4,177.29 Date: 11/30/2019
Perf: $4,149.07 Date: 10/31/2019
Perf: $4,124.33 Date: 9/30/2019
Perf: $4,120.21 Date: 8/31/2019
Perf: $4,241.08 Date: 7/31/2019
Perf: $4,005.55 Date: 6/30/2019
Perf: $3,948.69 Date: 5/31/2019
Perf: $3,961.37 Date: 4/30/2019
Perf: $3,922.92 Date: 3/31/2019
Perf: $3,824.26 Date: 2/28/2019
Perf: $3,782.27 Date: 1/31/2019
Perf: $3,772.84 Date: 12/31/2018
Perf: $3,712.33 Date: 11/30/2018
Perf: $3,727.61 Date: 10/31/2018
Perf: $3,757.67 Date: 9/30/2018
Perf: $3,608.64 Date: 8/31/2018
Perf: $3,582.13 Date: 7/31/2018
Perf: $3,492.72 Date: 6/30/2018
Perf: $3,541.23 Date: 5/31/2018
Perf: $3,484.09 Date: 4/30/2018
Perf: $3,503.36 Date: 3/31/2018
Perf: $3,447.85 Date: 2/28/2018
Perf: $3,431.72 Date: 1/31/2018
Perf: $3,365.09 Date: 12/31/2017
Perf: $3,215.26 Date: 11/30/2017
Perf: $3,135.31 Date: 10/31/2017
Perf: $3,182.09 Date: 9/30/2017
Perf: $3,236.13 Date: 8/31/2017
Perf: $3,164.61 Date: 7/31/2017
Perf: $3,334.33 Date: 6/30/2017
Perf: $3,177.37 Date: 5/31/2017
Perf: $3,178.00 Date: 4/30/2017
Perf: $3,083.34 Date: 3/31/2017
Perf: $3,044.98 Date: 2/28/2017
Perf: $2,901.08 Date: 1/31/2017
Perf: $3,006.93 Date: 12/31/2016
Perf: $3,112.12 Date: 11/30/2016
Perf: $3,114.92 Date: 10/31/2016
Perf: $3,131.20 Date: 9/30/2016
Perf: $3,161.55 Date: 8/31/2016
Perf: $3,234.99 Date: 7/31/2016
Perf: $3,248.96 Date: 6/30/2016
Perf: $3,317.63 Date: 5/31/2016
Perf: $3,228.21 Date: 4/30/2016
Perf: $3,262.80 Date: 3/31/2016
Perf: $3,254.01 Date: 2/29/2016
Perf: $3,094.64 Date: 1/31/2016
Perf: $3,076.18 Date: 12/31/2015
Perf: $2,870.64 Date: 11/30/2015
Perf: $2,932.22 Date: 10/31/2015
Perf: $2,951.70 Date: 9/30/2015
Perf: $2,978.51 Date: 8/31/2015
Perf: $2,996.49 Date: 7/31/2015
Perf: $3,073.32 Date: 6/30/2015
Perf: $3,014.83 Date: 5/31/2015
Perf: $3,064.16 Date: 4/30/2015
Perf: $3,043.47 Date: 3/31/2015
Perf: $3,090.76 Date: 2/28/2015
Perf: $3,052.30 Date: 1/31/2015
Perf: $3,041.96 Date: 12/31/2014
Perf: $2,996.70 Date: 11/30/2014
Perf: $2,992.22 Date: 10/31/2014
Perf: $2,940.46 Date: 9/30/2014
Perf: $2,845.43 Date: 8/31/2014
Perf: $2,671.26 Date: 7/31/2014
Perf: $2,706.17 Date: 6/30/2014
Perf: $2,735.16 Date: 5/31/2014
Perf: $2,657.30 Date: 4/30/2014
Perf: $2,606.99 Date: 3/31/2014
Perf: $2,695.68 Date: 2/28/2014
Perf: $2,730.63 Date: 1/31/2014
Perf: $2,717.31 Date: 12/31/2013
Perf: $2,703.53 Date: 11/30/2013
Perf: $2,684.20 Date: 10/31/2013
Perf: $2,710.22 Date: 9/30/2013
Perf: $2,613.77 Date: 8/31/2013
Perf: $2,563.02 Date: 7/31/2013
Perf: $2,541.67 Date: 6/30/2013
Perf: $2,577.24 Date: 5/31/2013
Perf: $2,639.26 Date: 4/30/2013
Perf: $2,612.09 Date: 3/31/2013
Perf: $2,570.71 Date: 2/28/2013
Perf: $2,592.74 Date: 1/31/2013
Perf: $2,517.23 Date: 12/31/2012
Perf: $2,520.00 Date: 11/30/2012
Perf: $2,558.90 Date: 10/31/2012
Perf: $2,408.37 Date: 9/30/2012
Perf: $2,509.24 Date: 8/31/2012
Perf: $2,499.99 Date: 7/31/2012
Perf: $2,548.67 Date: 6/30/2012
Perf: $2,624.79 Date: 5/31/2012
Perf: $2,553.30 Date: 4/30/2012
Perf: $2,440.55 Date: 3/31/2012
Perf: $2,466.20 Date: 2/29/2012
Perf: $2,500.70 Date: 1/31/2012
Perf: $2,557.74 Date: 12/31/2011
Perf: $2,607.55 Date: 11/30/2011
Perf: $2,564.21 Date: 10/31/2011
Perf: $2,607.76 Date: 9/30/2011
Perf: $2,668.61 Date: 8/31/2011
Perf: $2,591.89 Date: 7/31/2011
Perf: $2,477.43 Date: 6/30/2011
Perf: $2,432.19 Date: 5/31/2011
Perf: $2,465.22 Date: 4/30/2011
Perf: $2,446.87 Date: 3/31/2011
Perf: $2,391.39 Date: 2/28/2011
Perf: $2,508.54 Date: 1/31/2011
Perf: $2,475.13 Date: 12/31/2010
Perf: $2,485.32 Date: 11/30/2010
Perf: $2,529.84 Date: 10/31/2010
Perf: $2,587.54 Date: 9/30/2010
Perf: $2,598.98 Date: 8/31/2010
Perf: $2,558.30 Date: 7/31/2010
Perf: $2,542.03 Date: 6/30/2010
Perf: $2,531.65 Date: 5/31/2010
Perf: $2,538.51 Date: 4/30/2010
Perf: $2,363.82 Date: 3/31/2010
Perf: $2,389.39 Date: 2/28/2010
Perf: $2,401.15 Date: 1/31/2010
Perf: $2,485.92 Date: 12/31/2009
Perf: $2,484.18 Date: 11/30/2009
Perf: $2,537.21 Date: 10/31/2009
Perf: $2,433.31 Date: 9/30/2009
Perf: $2,417.84 Date: 8/31/2009
Perf: $2,440.78 Date: 7/31/2009
Perf: $2,417.81 Date: 6/30/2009
Perf: $2,482.10 Date: 5/31/2009
Perf: $2,575.06 Date: 4/30/2009
Perf: $2,439.89 Date: 3/31/2009
Perf: $2,425.09 Date: 2/28/2009
Perf: $2,399.66 Date: 1/31/2009
Perf: $2,373.31 Date: 12/31/2008
Perf: $2,410.43 Date: 11/30/2008
Perf: $2,406.82 Date: 10/31/2008
Perf: $2,385.35 Date: 9/30/2008
Perf: $1,991.45 Date: 8/31/2008
Perf: $2,043.56 Date: 7/31/2008
Perf: $1,969.69 Date: 6/30/2008
Perf: $2,000.10 Date: 5/31/2008
Perf: $1,994.31 Date: 4/30/2008
Perf: $1,980.65 Date: 3/31/2008
Perf: $2,014.90 Date: 2/29/2008
Perf: $2,001.89 Date: 1/31/2008
Perf: $1,888.75 Date: 12/31/2007
Perf: $1,899.77 Date: 11/30/2007
Perf: $1,904.72 Date: 10/31/2007
Perf: $1,861.53 Date: 9/30/2007
Perf: $1,732.46 Date: 8/31/2007
Perf: $1,691.69 Date: 7/31/2007
Perf: $1,851.07 Date: 6/30/2007
Perf: $1,854.78 Date: 5/31/2007
Perf: $1,803.21 Date: 4/30/2007
Perf: $1,759.92 Date: 3/31/2007
Perf: $1,694.18 Date: 2/28/2007
Perf: $1,756.72 Date: 1/31/2007
Perf: $1,854.06 Date: 12/31/2006
Perf: $1,802.16 Date: 11/30/2006
Perf: $1,783.25 Date: 10/31/2006
Perf: $1,792.40 Date: 9/30/2006
Perf: $1,768.17 Date: 8/31/2006
Perf: $1,778.49 Date: 7/31/2006
Perf: $1,756.01 Date: 6/30/2006
Perf: $1,744.50 Date: 5/31/2006
Perf: $1,711.63 Date: 4/30/2006
Perf: $1,759.31 Date: 3/31/2006
Perf: $1,716.40 Date: 2/28/2006
Perf: $1,612.10 Date: 1/31/2006
Perf: $1,615.98 Date: 12/31/2005
Perf: $1,564.96 Date: 11/30/2005
Perf: $1,522.63 Date: 10/31/2005
Perf: $1,443.11 Date: 9/30/2005
Perf: $1,496.70 Date: 8/31/2005
Perf: $1,460.05 Date: 7/31/2005
Perf: $1,492.28 Date: 6/30/2005
Perf: $1,442.10 Date: 5/31/2005
Perf: $1,347.25 Date: 4/30/2005
Perf: $1,275.20 Date: 3/31/2005
Perf: $1,320.36 Date: 2/28/2005
Perf: $1,307.93 Date: 1/31/2005
Perf: $1,387.14 Date: 12/31/2004
Perf: $1,434.62 Date: 11/30/2004
Perf: $1,472.92 Date: 10/31/2004
Perf: $1,383.41 Date: 9/30/2004
Perf: $1,429.29 Date: 8/31/2004
Perf: $1,355.17 Date: 7/31/2004
Perf: $1,426.64 Date: 6/30/2004
Perf: $1,414.90 Date: 5/31/2004
Perf: $1,436.73 Date: 4/30/2004
Perf: $1,367.02 Date: 3/31/2004
Perf: $1,347.61 Date: 2/29/2004
Perf: $1,323.26 Date: 1/31/2004
Perf: $1,270.17 Date: 12/31/2003
Perf: $1,196.36 Date: 11/30/2003
Perf: $1,114.96 Date: 10/31/2003
Perf: $1,095.57 Date: 9/30/2003
Perf: $1,011.05 Date: 8/31/2003
Perf: $966.86 Date: 7/31/2003
Perf: $916.20 Date: 6/30/2003
Perf: $929.02 Date: 5/31/2003
Perf: $1,008.16 Date: 4/30/2003
Perf: $991.50 Date: 3/31/2003
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: 03/03 - 10/20
Date: 10/31/2020
Return: -0.90 % Date: 9/30/2020
Return: -3.45 % Date: 8/31/2020
Return: -1.89 % Date: 7/31/2020
Return: 0.44 % Date: 6/30/2020
Return: 4.64 % Date: 5/31/2020
Return: -0.82 % Date: 4/30/2020
Return: -4.34 % Date: 3/31/2020
Return: 4.92 % Date: 2/29/2020
Return: 2.51 % Date: 1/31/2020
Return: -0.02 % Date: 12/31/2019
Return: 0.68 % Date: 11/30/2019
Return: 0.60 % Date: 10/31/2019
Return: 0.10 % Date: 9/30/2019
Return: -2.85 % Date: 8/31/2019
Return: 5.88 % Date: 7/31/2019
Return: 1.44 % Date: 6/30/2019
Return: -0.32 % Date: 5/31/2019
Return: 0.98 % Date: 4/30/2019
Return: 2.58 % Date: 3/31/2019
Return: 1.11 % Date: 2/28/2019
Return: 0.25 % Date: 1/31/2019
Return: 1.63 % Date: 12/31/2018
Return: -0.41 % Date: 11/30/2018
Return: -0.80 % Date: 10/31/2018
Return: 4.13 % Date: 9/30/2018
Return: 0.74 % Date: 8/31/2018
Return: 2.56 % Date: 7/31/2018
Return: -1.37 % Date: 6/30/2018
Return: 1.64 % Date: 5/31/2018
Return: -0.55 % Date: 4/30/2018
Return: 1.61 % Date: 3/31/2018
Return: 0.47 % Date: 2/28/2018
Return: 1.98 % Date: 1/31/2018
Return: 4.66 % Date: 12/31/2017
Return: 2.55 % Date: 11/30/2017
Return: -1.47 % Date: 10/31/2017
Return: -1.67 % Date: 9/30/2017
Return: 2.26 % Date: 8/31/2017
Return: -5.09 % Date: 7/31/2017
Return: 4.94 % Date: 6/30/2017
Return: -0.02 % Date: 5/31/2017
Return: 3.07 % Date: 4/30/2017
Return: 1.26 % Date: 3/31/2017
Return: 4.96 % Date: 2/28/2017
Return: -3.52 % Date: 1/31/2017
Return: -3.38 % Date: 12/31/2016
Return: -0.09 % Date: 11/30/2016
Return: -0.52 % Date: 10/31/2016
Return: -0.96 % Date: 9/30/2016
Return: -2.27 % Date: 8/31/2016
Return: -0.43 % Date: 7/31/2016
Return: -2.07 % Date: 6/30/2016
Return: 2.77 % Date: 5/31/2016
Return: -1.06 % Date: 4/30/2016
Return: 0.27 % Date: 3/31/2016
Return: 5.15 % Date: 2/29/2016
Return: 0.60 % Date: 1/31/2016
Return: 7.16 % Date: 12/31/2015
Return: -2.10 % Date: 11/30/2015
Return: -0.66 % Date: 10/31/2015
Return: -0.90 % Date: 9/30/2015
Return: -0.60 % Date: 8/31/2015
Return: -2.50 % Date: 7/31/2015
Return: 1.94 % Date: 6/30/2015
Return: -1.61 % Date: 5/31/2015
Return: 0.68 % Date: 4/30/2015
Return: -1.53 % Date: 3/31/2015
Return: 1.26 % Date: 2/28/2015
Return: 0.34 % Date: 1/31/2015
Return: 1.51 % Date: 12/31/2014
Return: 0.15 % Date: 11/30/2014
Return: 1.76 % Date: 10/31/2014
Return: 3.34 % Date: 9/30/2014
Return: 6.52 % Date: 8/31/2014
Return: -1.29 % Date: 7/31/2014
Return: -1.06 % Date: 6/30/2014
Return: 2.93 % Date: 5/31/2014
Return: 1.93 % Date: 4/30/2014
Return: -3.29 % Date: 3/31/2014
Return: -1.28 % Date: 2/28/2014
Return: 0.49 % Date: 1/31/2014
Return: 0.51 % Date: 12/31/2013
Return: 0.72 % Date: 11/30/2013
Return: -0.96 % Date: 10/31/2013
Return: 3.69 % Date: 9/30/2013
Return: 1.98 % Date: 8/31/2013
Return: 0.84 % Date: 7/31/2013
Return: -1.38 % Date: 6/30/2013
Return: -2.35 % Date: 5/31/2013
Return: 1.04 % Date: 4/30/2013
Return: 1.61 % Date: 3/31/2013
Return: -0.85 % Date: 2/28/2013
Return: 3.00 % Date: 1/31/2013
Return: -0.11 % Date: 12/31/2012
Return: -1.52 % Date: 11/30/2012
Return: 6.25 % Date: 10/31/2012
Return: -4.02 % Date: 9/30/2012
Return: 0.37 % Date: 8/31/2012
Return: -1.91 % Date: 7/31/2012
Return: -2.90 % Date: 6/30/2012
Return: 2.80 % Date: 5/31/2012
Return: 4.62 % Date: 4/30/2012
Return: -1.04 % Date: 3/31/2012
Return: -1.38 % Date: 2/29/2012
Return: -2.23 % Date: 1/31/2012
Return: -1.91 % Date: 12/31/2011
Return: 1.69 % Date: 11/30/2011
Return: -1.67 % Date: 10/31/2011
Return: -2.28 % Date: 9/30/2011
Return: 2.96 % Date: 8/31/2011
Return: 4.62 % Date: 7/31/2011
Return: 1.86 % Date: 6/30/2011
Return: -1.34 % Date: 5/31/2011
Return: 0.75 % Date: 4/30/2011
Return: 2.32 % Date: 3/31/2011
Return: -4.67 % Date: 2/28/2011
Return: 1.35 % Date: 1/31/2011
Return: -0.41 % Date: 12/31/2010
Return: -1.76 % Date: 11/30/2010
Return: -2.23 % Date: 10/31/2010
Return: -0.44 % Date: 9/30/2010
Return: 1.59 % Date: 8/31/2010
Return: 0.64 % Date: 7/31/2010
Return: 0.41 % Date: 6/30/2010
Return: -0.27 % Date: 5/31/2010
Return: 7.39 % Date: 4/30/2010
Return: -1.07 % Date: 3/31/2010
Return: -0.49 % Date: 2/28/2010
Return: -3.41 % Date: 1/31/2010
Return: 0.07 % Date: 12/31/2009
Return: -2.09 % Date: 11/30/2009
Return: 4.27 % Date: 10/31/2009
Return: 0.64 % Date: 9/30/2009
Return: -0.94 % Date: 8/31/2009
Return: 0.95 % Date: 7/31/2009
Return: -2.59 % Date: 6/30/2009
Return: -3.61 % Date: 5/31/2009
Return: 5.54 % Date: 4/30/2009
Return: 0.61 % Date: 3/31/2009
Return: 1.06 % Date: 2/28/2009
Return: 1.11 % Date: 1/31/2009
Return: -1.54 % Date: 12/31/2008
Return: 0.15 % Date: 11/30/2008
Return: 0.90 % Date: 10/31/2008
Return: 19.78 % Date: 9/30/2008
Return: -2.55 % Date: 8/31/2008
Return: 3.75 % Date: 7/31/2008
Return: -1.52 % Date: 6/30/2008
Return: 0.29 % Date: 5/31/2008
Return: 0.69 % Date: 4/30/2008
Return: -1.70 % Date: 3/31/2008
Return: 0.65 % Date: 2/29/2008
Return: 5.99 % Date: 1/31/2008
Return: -0.58 % Date: 12/31/2007
Return: -0.26 % Date: 11/30/2007
Return: 2.32 % Date: 10/31/2007
Return: 7.45 % Date: 9/30/2007
Return: 2.41 % Date: 8/31/2007
Return: -8.61 % Date: 7/31/2007
Return: -0.20 % Date: 6/30/2007
Return: 2.86 % Date: 5/31/2007
Return: 2.46 % Date: 4/30/2007
Return: 3.88 % Date: 3/31/2007
Return: -3.56 % Date: 2/28/2007
Return: -5.25 % Date: 1/31/2007
Return: 2.88 % Date: 12/31/2006
Return: 1.06 % Date: 11/30/2006
Return: -0.51 % Date: 10/31/2006
Return: 1.37 % Date: 9/30/2006
Return: -0.58 % Date: 8/31/2006
Return: 1.28 % Date: 7/31/2006
Return: 0.66 % Date: 6/30/2006
Return: 1.92 % Date: 5/31/2006
Return: -2.71 % Date: 4/30/2006
Return: 2.50 % Date: 3/31/2006
Return: 6.47 % Date: 2/28/2006
Return: -0.24 % Date: 1/31/2006
Return: 3.26 % Date: 12/31/2005
Return: 2.78 % Date: 11/30/2005
Return: 5.51 % Date: 10/31/2005
Return: -3.58 % Date: 9/30/2005
Return: 2.51 % Date: 8/31/2005
Return: -2.16 % Date: 7/31/2005
Return: 3.48 % Date: 6/30/2005
Return: 7.04 % Date: 5/31/2005
Return: 5.65 % Date: 4/30/2005
Return: -3.42 % Date: 3/31/2005
Return: 0.95 % Date: 2/28/2005
Return: -5.71 % Date: 1/31/2005
Return: -3.31 % Date: 12/31/2004
Return: -2.60 % Date: 11/30/2004
Return: 6.47 % Date: 10/31/2004
Return: -3.21 % Date: 9/30/2004
Return: 5.47 % Date: 8/31/2004
Return: -5.01 % Date: 7/31/2004
Return: 0.83 % Date: 6/30/2004
Return: -1.52 % Date: 5/31/2004
Return: 5.10 % Date: 4/30/2004
Return: 1.44 % Date: 3/31/2004
Return: 1.84 % Date: 2/29/2004
Return: 4.18 % Date: 1/31/2004
Return: 6.17 % Date: 12/31/2003
Return: 7.30 % Date: 11/30/2003
Return: 1.77 % Date: 10/31/2003
Return: 8.36 % Date: 9/30/2003
Return: 4.57 % Date: 8/31/2003
Return: 5.53 % Date: 7/31/2003
Return: -1.38 % Date: 6/30/2003
Return: -7.85 % Date: 5/31/2003
Return: 1.68 % Date: 4/30/2003
Return: -0.85 % Date: 3/31/2003
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: 03/03 - 10/20
Return: 20.00 %
Count: 1 Return: -9.00 %
Count: 1 Return: -4.00 %
Count: 6 Return: 3.00 %
Count: 17 Return: -6.00 %
Count: 1 Return: -3.00 %
Count: 14 Return: -5.00 %
Count: 4 Return: -2.00 %
Count: 22 Return: 1.00 %
Count: 32 Return: 4.00 %
Count: 6 Return: 7.00 %
Count: 6 Return: 8.00 %
Count: 1 Return: 5.00 %
Count: 11 Return: 6.00 %
Count: 10 Return: -8.00 %
Count: 1 Return: 2.00 %
Count: 23 Return: -1.00 %
Count: 28 Return: 0.00 %
Count: 28

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: 03/03 - 10/20
Date: 10/31/2020
Drawdown: -6.40 % Date: 9/30/2020
Drawdown: -5.55 % Date: 8/31/2020
Drawdown: -2.17 % Date: 7/31/2020
Drawdown: -0.29 % Date: 6/30/2020
Drawdown: -0.72 % Date: 5/31/2020
Drawdown: -5.12 % Date: 4/30/2020
Drawdown: -4.34 % Date: 3/31/2020
Drawdown: 0.00 % Date: 2/29/2020
Drawdown: 0.00 % Date: 1/31/2020
Drawdown: -1.52 % Date: 12/31/2019
Drawdown: -1.50 % Date: 11/30/2019
Drawdown: -2.17 % Date: 10/31/2019
Drawdown: -2.75 % Date: 9/30/2019
Drawdown: -2.85 % Date: 8/31/2019
Drawdown: 0.00 % Date: 7/31/2019
Drawdown: 0.00 % Date: 6/30/2019
Drawdown: -0.32 % Date: 5/31/2019
Drawdown: 0.00 % Date: 4/30/2019
Drawdown: 0.00 % Date: 3/31/2019
Drawdown: 0.00 % Date: 2/28/2019
Drawdown: 0.00 % Date: 1/31/2019
Drawdown: 0.00 % Date: 12/31/2018
Drawdown: -1.21 % Date: 11/30/2018
Drawdown: -0.80 % Date: 10/31/2018
Drawdown: 0.00 % Date: 9/30/2018
Drawdown: 0.00 % Date: 8/31/2018
Drawdown: 0.00 % Date: 7/31/2018
Drawdown: -1.37 % Date: 6/30/2018
Drawdown: 0.00 % Date: 5/31/2018
Drawdown: -0.55 % Date: 4/30/2018
Drawdown: 0.00 % Date: 3/31/2018
Drawdown: 0.00 % Date: 2/28/2018
Drawdown: 0.00 % Date: 1/31/2018
Drawdown: 0.00 % Date: 12/31/2017
Drawdown: -3.57 % Date: 11/30/2017
Drawdown: -5.97 % Date: 10/31/2017
Drawdown: -4.57 % Date: 9/30/2017
Drawdown: -2.95 % Date: 8/31/2017
Drawdown: -5.09 % Date: 7/31/2017
Drawdown: 0.00 % Date: 6/30/2017
Drawdown: -4.23 % Date: 5/31/2017
Drawdown: -4.21 % Date: 4/30/2017
Drawdown: -7.06 % Date: 3/31/2017
Drawdown: -8.22 % Date: 2/28/2017
Drawdown: -12.56 % Date: 1/31/2017
Drawdown: -9.37 % Date: 12/31/2016
Drawdown: -6.19 % Date: 11/30/2016
Drawdown: -6.11 % Date: 10/31/2016
Drawdown: -5.62 % Date: 9/30/2016
Drawdown: -4.70 % Date: 8/31/2016
Drawdown: -2.49 % Date: 7/31/2016
Drawdown: -2.07 % Date: 6/30/2016
Drawdown: 0.00 % Date: 5/31/2016
Drawdown: -1.06 % Date: 4/30/2016
Drawdown: 0.00 % Date: 3/31/2016
Drawdown: 0.00 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: -0.47 % Date: 12/31/2015
Drawdown: -7.12 % Date: 11/30/2015
Drawdown: -5.13 % Date: 10/31/2015
Drawdown: -4.50 % Date: 9/30/2015
Drawdown: -3.63 % Date: 8/31/2015
Drawdown: -3.05 % Date: 7/31/2015
Drawdown: -0.56 % Date: 6/30/2015
Drawdown: -2.46 % Date: 5/31/2015
Drawdown: -0.86 % Date: 4/30/2015
Drawdown: -1.53 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: 0.00 % 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: 0.00 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: -2.34 % Date: 7/31/2014
Drawdown: -1.06 % Date: 6/30/2014
Drawdown: 0.00 % Date: 5/31/2014
Drawdown: -2.69 % Date: 4/30/2014
Drawdown: -4.53 % Date: 3/31/2014
Drawdown: -1.28 % Date: 2/28/2014
Drawdown: 0.00 % Date: 1/31/2014
Drawdown: 0.00 % Date: 12/31/2013
Drawdown: -0.25 % Date: 11/30/2013
Drawdown: -0.96 % Date: 10/31/2013
Drawdown: 0.00 % Date: 9/30/2013
Drawdown: -2.05 % Date: 8/31/2013
Drawdown: -3.96 % Date: 7/31/2013
Drawdown: -4.76 % Date: 6/30/2013
Drawdown: -3.42 % Date: 5/31/2013
Drawdown: -1.10 % Date: 4/30/2013
Drawdown: -2.12 % Date: 3/31/2013
Drawdown: -3.67 % Date: 2/28/2013
Drawdown: -2.84 % Date: 1/31/2013
Drawdown: -5.67 % Date: 12/31/2012
Drawdown: -5.57 % Date: 11/30/2012
Drawdown: -4.11 % Date: 10/31/2012
Drawdown: -9.75 % Date: 9/30/2012
Drawdown: -5.97 % Date: 8/31/2012
Drawdown: -6.32 % Date: 7/31/2012
Drawdown: -4.49 % Date: 6/30/2012
Drawdown: -1.64 % Date: 5/31/2012
Drawdown: -4.32 % Date: 4/30/2012
Drawdown: -8.55 % Date: 3/31/2012
Drawdown: -7.58 % Date: 2/29/2012
Drawdown: -6.29 % Date: 1/31/2012
Drawdown: -4.15 % Date: 12/31/2011
Drawdown: -2.29 % Date: 11/30/2011
Drawdown: -3.91 % Date: 10/31/2011
Drawdown: -2.28 % Date: 9/30/2011
Drawdown: 0.00 % Date: 8/31/2011
Drawdown: -0.27 % Date: 7/31/2011
Drawdown: -4.68 % Date: 6/30/2011
Drawdown: -6.42 % Date: 5/31/2011
Drawdown: -5.15 % Date: 4/30/2011
Drawdown: -5.85 % Date: 3/31/2011
Drawdown: -7.99 % Date: 2/28/2011
Drawdown: -3.48 % Date: 1/31/2011
Drawdown: -4.77 % Date: 12/31/2010
Drawdown: -4.37 % Date: 11/30/2010
Drawdown: -2.66 % Date: 10/31/2010
Drawdown: -0.44 % Date: 9/30/2010
Drawdown: 0.00 % Date: 8/31/2010
Drawdown: -0.65 % Date: 7/31/2010
Drawdown: -1.28 % Date: 6/30/2010
Drawdown: -1.69 % Date: 5/31/2010
Drawdown: -1.42 % Date: 4/30/2010
Drawdown: -8.20 % Date: 3/31/2010
Drawdown: -7.21 % Date: 2/28/2010
Drawdown: -6.75 % Date: 1/31/2010
Drawdown: -3.46 % Date: 12/31/2009
Drawdown: -3.53 % Date: 11/30/2009
Drawdown: -1.47 % Date: 10/31/2009
Drawdown: -5.50 % Date: 9/30/2009
Drawdown: -6.11 % Date: 8/31/2009
Drawdown: -5.21 % Date: 7/31/2009
Drawdown: -6.11 % Date: 6/30/2009
Drawdown: -3.61 % Date: 5/31/2009
Drawdown: 0.00 % Date: 4/30/2009
Drawdown: 0.00 % Date: 3/31/2009
Drawdown: 0.00 % Date: 2/28/2009
Drawdown: -0.45 % Date: 1/31/2009
Drawdown: -1.54 % 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: -2.55 % Date: 8/31/2008
Drawdown: 0.00 % Date: 7/31/2008
Drawdown: -2.24 % Date: 6/30/2008
Drawdown: -0.73 % Date: 5/31/2008
Drawdown: -1.02 % Date: 4/30/2008
Drawdown: -1.70 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: -0.84 % Date: 12/31/2007
Drawdown: -0.26 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: -6.59 % Date: 8/31/2007
Drawdown: -8.79 % Date: 7/31/2007
Drawdown: -0.20 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: -2.74 % Date: 4/30/2007
Drawdown: -5.08 % Date: 3/31/2007
Drawdown: -8.62 % Date: 2/28/2007
Drawdown: -5.25 % Date: 1/31/2007
Drawdown: 0.00 % Date: 12/31/2006
Drawdown: 0.00 % Date: 11/30/2006
Drawdown: -0.51 % Date: 10/31/2006
Drawdown: 0.00 % Date: 9/30/2006
Drawdown: -0.58 % Date: 8/31/2006
Drawdown: 0.00 % Date: 7/31/2006
Drawdown: -0.19 % Date: 6/30/2006
Drawdown: -0.84 % Date: 5/31/2006
Drawdown: -2.71 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: 0.00 % Date: 2/28/2006
Drawdown: -0.24 % Date: 1/31/2006
Drawdown: 0.00 % Date: 12/31/2005
Drawdown: 0.00 % Date: 11/30/2005
Drawdown: 0.00 % Date: 10/31/2005
Drawdown: -3.58 % Date: 9/30/2005
Drawdown: 0.00 % Date: 8/31/2005
Drawdown: -2.16 % Date: 7/31/2005
Drawdown: 0.00 % Date: 6/30/2005
Drawdown: -2.09 % Date: 5/31/2005
Drawdown: -8.53 % Date: 4/30/2005
Drawdown: -13.42 % Date: 3/31/2005
Drawdown: -10.36 % Date: 2/28/2005
Drawdown: -11.20 % Date: 1/31/2005
Drawdown: -5.82 % Date: 12/31/2004
Drawdown: -2.60 % Date: 11/30/2004
Drawdown: 0.00 % Date: 10/31/2004
Drawdown: -3.71 % Date: 9/30/2004
Drawdown: -0.52 % Date: 8/31/2004
Drawdown: -5.68 % Date: 7/31/2004
Drawdown: -0.70 % Date: 6/30/2004
Drawdown: -1.52 % Date: 5/31/2004
Drawdown: 0.00 % Date: 4/30/2004
Drawdown: 0.00 % Date: 3/31/2004
Drawdown: 0.00 % Date: 2/29/2004
Drawdown: 0.00 % Date: 1/31/2004
Drawdown: 0.00 % Date: 12/31/2003
Drawdown: 0.00 % Date: 11/30/2003
Drawdown: 0.00 % Date: 10/31/2003
Drawdown: 0.00 % Date: 9/30/2003
Drawdown: 0.00 % Date: 8/31/2003
Drawdown: -4.10 % Date: 7/31/2003
Drawdown: -9.12 % Date: 6/30/2003
Drawdown: -7.85 % Date: 5/31/2003
Drawdown: 0.00 % Date: 4/30/2003
Drawdown: -0.85 %

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:  Adalpha Asset Management LLC
Address: 141 W. Jackson Blvd. #3806
City: Chicago
State: IL
Zip: 60604
Country: USA

Key People

Name:  Gary Polony
Position:  Principal
Biography: 

associated person of the Advisor since June 11, 2009, and a principal of the Advisor since June 4, 2009. Gary was educated at DePaul University receiving a BS degree in finance. During this time he began researching one hundred percent (100%) mechanical trading systems. After completing two (2) years of research he began trading stocks and stock index options. Upon graduating from DePaul University in 1994, Gary started trading commodities and futures of all asset classes. With his ndergraduate work now completed, he was able to focus more of his time and energy into research and trading. In April 1990, Gary founded Advanced Marketing, a marketing firm which quickly grew to hold contracts with some of the largest circulating newspapers in the United States. The company was renamed and incorporated as Quest Marketing Concepts Corporation (“Quest Marketing”) in May 2002. The profitability of the company allowed full time efforts to be directed at researching markets, developing one hundred percent (100%) mechanical trading systems and trading. Following the success of Quest Marketing, Gary founded Chicago, IL based Quest Financial Management Corporation (“QFMC”) in 2003. QFMC became registered as a CTA in October of 2003 and Gary commenced work at QFMC at the same time, working in the role of an “informational CTA” and publishing investment advice on financial markets; the same year the current trading program now known as Adalpha Diversified Short-Term Program commenced trading. Gary has been an associated person and principal of QFMC since October 10, 2003. In May 2009, Adalpha Asset Management, LLC was founded.


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 
 Counter-trend Yes 
 Pattern Recognition Yes 
 Volatility Trading Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 United States Yes 
 Holding Period
 Medium Term Yes 
 Short Term Yes 
 Intra-Week Yes 
 Intra-Day Yes 
 Investment Terms & Information
 Managed Account Minimum: $1,000,000 
 Margin / Equity Ratio: 4% 
 Managed Account Availability: Open 
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