Westphal Trading

Diversified Trend-Following *PROP*


Monthly Performance (%)

Date Range: 04/10 - 11/18
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2018 14.29 -14.98 -5.52 0.09 2.81 0.04 3.61 4.83 -1.09 17.95 0.34   20.16 
2017 -2.40 3.39 -0.37 1.33 2.90 -3.18 2.64 0.59 -1.25 5.68 2.20 2.60  14.67 
2016 -0.25 1.33 -3.58 1.87 -4.33 2.64 4.10 -2.90 -2.11 -2.15 2.12 -0.85  -4.43 
2015 8.82 -5.19 -2.34 -4.36 -0.85 -2.76 1.61 0.90 -0.71 -0.64 -0.76 -1.98  -8.59 
2014 -7.66 -1.48 -1.57 -1.00 -1.68 3.49 1.28 3.16 16.25 -1.32 15.05 10.00  36.82 
2013 3.26 -2.23 -0.98 2.31 -1.49 -3.32 -1.70 -1.91 -0.40 -0.50 -1.10 -1.53  -9.35 
2012 0.05 0.95 -0.30 -0.04 -0.81 -0.12 -1.79 0.80 0.81 -3.05 -0.54 -0.66  -4.67 
2011 0.03 -1.34 -2.37 5.25 -4.97 -1.09 0.98 2.61 -0.18 -0.74 -0.22 -0.08  -2.44 
2010 -0.95 -0.50 0.90 1.36 5.76 2.94 0.65 -0.11  10.33 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The investment strategy employed is technical rather than fundamental in nature, i.e., it has been developed from analysis of patterns of actual monthly, weekly, and daily price movements and is not based on analysis of fundamental factors such as supply and demand, general economic conditions or anticipated world events. The Program relies on historical analysis of these price patterns to interpret current market behavior and to evaluate technical indicators for trade initiations and liquidations. The Program is trend-following in that initiations and liquidations of positions in a particular market are generally in the direction of the price trend in that market. WT employs an investment strategy which utilizes a blend of systems (or, in other words, a number of investment systems simultaneously). The strategy is diversified in that the Program follows over forty commodity interests. Although the specific commodity interests to be traded will vary from time to time, at the present time WT only trades futures contracts for its clients. Examples of commodities for which contracts are now traded by WT include precious and base metals, U.S. and foreign financial instruments, stock indices, foreign currencies, grains and grain products, energy products such as crude oil and soft commodities such as sugar and coffee. WT may add other commodity interests in the future. WT may engage in transactions in physical commodities commonly known as an “exchange for physical” or “EFP”. As discussed further “Risk Factors,” certain of the commodity interests traded by WT are traded on foreign exchanges and are subject to regulation by non-United States jurisdictions. The commodity interests typically traded have been chosen for, among other things, their historical performance and for their customary liquidity. WT believes that the development of a commodity interest investment strategy is a continual process. As a result of further analysis and research into the performance of WT’s methods, changes have been made from time to time in the specifics of WT’s methods, and it is likely that additional revisions will be made in the future. As a result of such modifications, the investment methods currently used by WT differ from those used in the past and may differ from those to be used in the future. If possible within existing market conditions, WT adheres to the requirements of a fully integrated risk management system which quantifies and limits the equity committed to each trade, each commodity interest and each group of commodity interests, and sets optimal stop-losses for each trade and each account. The level of liquidation determined by this risk management system can override liquidations determined by technical indicators.

Performance Statistics

Date Range: 04/10 - 11/18
  Program S&P 500 Altegris 40 
Total Return 53.20% 183.10% 5.94% 
Annualized Return 5.10% 12.76% 0.67% 
Annualized Std. Deviation 15.19% 11.83% 8.59% 
Correlation 0.07 0.48 
Sharpe Ratio (rf=2.5%) 0.17 0.87 -0.21 
Worst Month -14.98% -7.99% -6.10% 
Date of Worst Month 02/2018 05/2010 02/2018 
Worst Drawdown -27.54% -16.26% -15.74% 
Date of Worst Drawdown 4/11 - 5/14 4/11 - 9/11 4/11 - 9/13 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 04/10 - 11/18

Year or YTD Program S&P 500 Altegris 40 
2018 20.16 5.11 -4.69 
2017 14.67 21.84 1.24 
2016 -4.43 11.98 -3.13 
2015 -8.59 1.41 0.09 
2014 36.82 13.69 15.75 
2013 -9.35 32.41 -2.45 
2012 -4.67 15.98 -4.75 
2011 -2.44 2.12 -3.23 
2010 10.33 7.49 7.14 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 04/10 - 11/18
Date: 11/30/2018
Perf: $1,043.29 Date: 10/31/2018
Perf: $1,055.96 Date: 9/30/2018
Perf: $1,082.70 Date: 8/31/2018
Perf: $1,087.60 Date: 7/31/2018
Perf: $1,060.55 Date: 6/30/2018
Perf: $1,068.57 Date: 5/31/2018
Perf: $1,059.67 Date: 4/30/2018
Perf: $1,073.51 Date: 3/31/2018
Perf: $1,062.04 Date: 2/28/2018
Perf: $1,063.00 Date: 1/31/2018
Perf: $1,132.06 Date: 12/31/2017
Perf: $1,094.62 Date: 11/30/2017
Perf: $1,082.82 Date: 10/31/2017
Perf: $1,081.41 Date: 9/30/2017
Perf: $1,037.92 Date: 8/31/2017
Perf: $1,060.29 Date: 7/31/2017
Perf: $1,042.98 Date: 6/30/2017
Perf: $1,038.93 Date: 5/31/2017
Perf: $1,070.18 Date: 4/30/2017
Perf: $1,068.15 Date: 3/31/2017
Perf: $1,074.60 Date: 2/28/2017
Perf: $1,090.52 Date: 1/31/2017
Perf: $1,067.25 Date: 12/31/2016
Perf: $1,081.20 Date: 11/30/2016
Perf: $1,073.04 Date: 10/31/2016
Perf: $1,084.98 Date: 9/30/2016
Perf: $1,113.71 Date: 8/31/2016
Perf: $1,128.27 Date: 7/31/2016
Perf: $1,159.46 Date: 6/30/2016
Perf: $1,147.75 Date: 5/31/2016
Perf: $1,100.96 Date: 4/30/2016
Perf: $1,120.57 Date: 3/31/2016
Perf: $1,149.42 Date: 2/29/2016
Perf: $1,183.38 Date: 1/31/2016
Perf: $1,154.97 Date: 12/31/2015
Perf: $1,116.13 Date: 11/30/2015
Perf: $1,142.40 Date: 10/31/2015
Perf: $1,104.73 Date: 9/30/2015
Perf: $1,124.30 Date: 8/31/2015
Perf: $1,100.42 Date: 7/31/2015
Perf: $1,119.79 Date: 6/30/2015
Perf: $1,077.65 Date: 5/31/2015
Perf: $1,136.76 Date: 4/30/2015
Perf: $1,145.01 Date: 3/31/2015
Perf: $1,190.98 Date: 2/28/2015
Perf: $1,165.23 Date: 1/31/2015
Perf: $1,167.10 Date: 12/31/2014
Perf: $1,115.13 Date: 11/30/2014
Perf: $1,095.84 Date: 10/31/2014
Perf: $1,034.30 Date: 9/30/2014
Perf: $1,019.32 Date: 8/31/2014
Perf: $1,004.35 Date: 7/31/2014
Perf: $963.59 Date: 6/30/2014
Perf: $971.36 Date: 5/31/2014
Perf: $963.08 Date: 4/30/2014
Perf: $939.04 Date: 3/31/2014
Perf: $931.96 Date: 2/28/2014
Perf: $945.96 Date: 1/31/2014
Perf: $938.27 Date: 12/31/2013
Perf: $963.41 Date: 11/30/2013
Perf: $964.76 Date: 10/31/2013
Perf: $947.61 Date: 9/30/2013
Perf: $926.40 Date: 8/31/2013
Perf: $931.99 Date: 7/31/2013
Perf: $950.23 Date: 6/30/2013
Perf: $958.57 Date: 5/31/2013
Perf: $996.33 Date: 4/30/2013
Perf: $1,041.10 Date: 3/31/2013
Perf: $1,014.92 Date: 2/28/2013
Perf: $1,000.51 Date: 1/31/2013
Perf: $1,006.34 Date: 12/31/2012
Perf: $987.58 Date: 11/30/2012
Perf: $982.77 Date: 10/31/2012
Perf: $980.02 Date: 9/30/2012
Perf: $1,016.83 Date: 8/31/2012
Perf: $1,033.89 Date: 7/31/2012
Perf: $1,048.14 Date: 6/30/2012
Perf: $1,006.96 Date: 5/31/2012
Perf: $1,046.30 Date: 4/30/2012
Perf: $1,026.79 Date: 3/31/2012
Perf: $1,020.67 Date: 2/29/2012
Perf: $1,044.38 Date: 1/31/2012
Perf: $1,040.11 Date: 12/31/2011
Perf: $1,036.79 Date: 11/30/2011
Perf: $1,026.93 Date: 10/31/2011
Perf: $1,023.86 Date: 9/30/2011
Perf: $1,066.08 Date: 8/31/2011
Perf: $1,066.72 Date: 7/31/2011
Perf: $1,068.86 Date: 6/30/2011
Perf: $1,031.81 Date: 5/31/2011
Perf: $1,059.36 Date: 4/30/2011
Perf: $1,099.49 Date: 3/31/2011
Perf: $1,058.22 Date: 2/28/2011
Perf: $1,074.66 Date: 1/31/2011
Perf: $1,056.70 Date: 12/31/2010
Perf: $1,071.38 Date: 11/30/2010
Perf: $1,027.30 Date: 10/31/2010
Perf: $1,065.01 Date: 9/30/2010
Perf: $1,025.23 Date: 8/31/2010
Perf: $1,006.90 Date: 7/31/2010
Perf: $966.87 Date: 6/30/2010
Perf: $979.51 Date: 5/31/2010
Perf: $975.80 Date: 4/30/2010
Perf: $1,000.00 Date: 11/30/2018
Perf: $2,787.00 Date: 10/31/2018
Perf: $2,731.29 Date: 9/30/2018
Perf: $2,931.82 Date: 8/31/2018
Perf: $2,915.21 Date: 7/31/2018
Perf: $2,823.17 Date: 6/30/2018
Perf: $2,721.92 Date: 5/31/2018
Perf: $2,705.14 Date: 4/30/2018
Perf: $2,641.48 Date: 3/31/2018
Perf: $2,631.48 Date: 2/28/2018
Perf: $2,700.07 Date: 1/31/2018
Perf: $2,803.52 Date: 12/31/2017
Perf: $2,651.58 Date: 11/30/2017
Perf: $2,622.47 Date: 10/31/2017
Perf: $2,544.36 Date: 9/30/2017
Perf: $2,486.43 Date: 8/31/2017
Perf: $2,436.24 Date: 7/31/2017
Perf: $2,428.71 Date: 6/30/2017
Perf: $2,379.69 Date: 5/31/2017
Perf: $2,365.03 Date: 4/30/2017
Perf: $2,332.14 Date: 3/31/2017
Perf: $2,308.37 Date: 2/28/2017
Perf: $2,305.60 Date: 1/31/2017
Perf: $2,217.56 Date: 12/31/2016
Perf: $2,176.21 Date: 11/30/2016
Perf: $2,133.96 Date: 10/31/2016
Perf: $2,057.82 Date: 9/30/2016
Perf: $2,095.97 Date: 8/31/2016
Perf: $2,095.55 Date: 7/31/2016
Perf: $2,092.62 Date: 6/30/2016
Perf: $2,018.15 Date: 5/31/2016
Perf: $2,012.92 Date: 4/30/2016
Perf: $1,977.32 Date: 3/31/2016
Perf: $1,969.64 Date: 2/29/2016
Perf: $1,844.58 Date: 1/31/2016
Perf: $1,846.98 Date: 12/31/2015
Perf: $1,943.37 Date: 11/30/2015
Perf: $1,974.57 Date: 10/31/2015
Perf: $1,968.67 Date: 9/30/2015
Perf: $1,815.44 Date: 8/31/2015
Perf: $1,861.42 Date: 7/31/2015
Perf: $1,980.87 Date: 6/30/2015
Perf: $1,940.12 Date: 5/31/2015
Perf: $1,978.51 Date: 4/30/2015
Perf: $1,953.31 Date: 3/31/2015
Perf: $1,934.73 Date: 2/28/2015
Perf: $1,965.79 Date: 1/31/2015
Perf: $1,858.91 Date: 12/31/2014
Perf: $1,916.40 Date: 11/30/2014
Perf: $1,921.20 Date: 10/31/2014
Perf: $1,870.88 Date: 9/30/2014
Perf: $1,826.31 Date: 8/31/2014
Perf: $1,852.24 Date: 7/31/2014
Perf: $1,781.00 Date: 6/30/2014
Perf: $1,805.93 Date: 5/31/2014
Perf: $1,769.30 Date: 4/30/2014
Perf: $1,728.68 Date: 3/31/2014
Perf: $1,715.98 Date: 2/28/2014
Perf: $1,701.69 Date: 1/31/2014
Perf: $1,627.32 Date: 12/31/2013
Perf: $1,685.64 Date: 11/30/2013
Perf: $1,644.05 Date: 10/31/2013
Perf: $1,595.39 Date: 9/30/2013
Perf: $1,525.23 Date: 8/31/2013
Perf: $1,478.79 Date: 7/31/2013
Perf: $1,522.96 Date: 6/30/2013
Perf: $1,449.19 Date: 5/31/2013
Perf: $1,468.88 Date: 4/30/2013
Perf: $1,435.29 Date: 3/31/2013
Perf: $1,408.11 Date: 2/28/2013
Perf: $1,357.22 Date: 1/31/2013
Perf: $1,339.01 Date: 12/31/2012
Perf: $1,273.06 Date: 11/30/2012
Perf: $1,261.58 Date: 10/31/2012
Perf: $1,254.31 Date: 9/30/2012
Perf: $1,277.95 Date: 8/31/2012
Perf: $1,245.81 Date: 7/31/2012
Perf: $1,218.39 Date: 6/30/2012
Perf: $1,201.69 Date: 5/31/2012
Perf: $1,154.14 Date: 4/30/2012
Perf: $1,227.94 Date: 3/31/2012
Perf: $1,235.72 Date: 2/29/2012
Perf: $1,196.36 Date: 1/31/2012
Perf: $1,146.82 Date: 12/31/2011
Perf: $1,097.65 Date: 11/30/2011
Perf: $1,086.56 Date: 10/31/2011
Perf: $1,088.96 Date: 9/30/2011
Perf: $981.66 Date: 8/31/2011
Perf: $1,055.89 Date: 7/31/2011
Perf: $1,116.52 Date: 6/30/2011
Perf: $1,139.66 Date: 5/31/2011
Perf: $1,159.01 Date: 4/30/2011
Perf: $1,172.26 Date: 3/31/2011
Perf: $1,138.56 Date: 2/28/2011
Perf: $1,138.10 Date: 1/31/2011
Perf: $1,100.36 Date: 12/31/2010
Perf: $1,074.88 Date: 11/30/2010
Perf: $1,007.58 Date: 10/31/2010
Perf: $1,007.48 Date: 9/30/2010
Perf: $970.50 Date: 8/31/2010
Perf: $891.02 Date: 7/31/2010
Perf: $933.10 Date: 6/30/2010
Perf: $871.98 Date: 5/31/2010
Perf: $920.10 Date: 4/30/2010
Perf: $1,000.00 Date: 11/30/2018
Perf: $1,531.96 Date: 10/31/2018
Perf: $1,526.77 Date: 9/30/2018
Perf: $1,294.42 Date: 8/31/2018
Perf: $1,308.68 Date: 7/31/2018
Perf: $1,248.39 Date: 6/30/2018
Perf: $1,204.89 Date: 5/31/2018
Perf: $1,204.41 Date: 4/30/2018
Perf: $1,171.49 Date: 3/31/2018
Perf: $1,170.43 Date: 2/28/2018
Perf: $1,238.82 Date: 1/31/2018
Perf: $1,457.09 Date: 12/31/2017
Perf: $1,274.91 Date: 11/30/2017
Perf: $1,242.60 Date: 10/31/2017
Perf: $1,215.85 Date: 9/30/2017
Perf: $1,150.50 Date: 8/31/2017
Perf: $1,165.06 Date: 7/31/2017
Perf: $1,158.23 Date: 6/30/2017
Perf: $1,128.44 Date: 5/31/2017
Perf: $1,165.50 Date: 4/30/2017
Perf: $1,132.66 Date: 3/31/2017
Perf: $1,117.79 Date: 2/28/2017
Perf: $1,121.94 Date: 1/31/2017
Perf: $1,085.15 Date: 12/31/2016
Perf: $1,111.84 Date: 11/30/2016
Perf: $1,121.37 Date: 10/31/2016
Perf: $1,098.09 Date: 9/30/2016
Perf: $1,122.22 Date: 8/31/2016
Perf: $1,146.41 Date: 7/31/2016
Perf: $1,180.65 Date: 6/30/2016
Perf: $1,134.15 Date: 5/31/2016
Perf: $1,104.97 Date: 4/30/2016
Perf: $1,154.99 Date: 3/31/2016
Perf: $1,133.78 Date: 2/29/2016
Perf: $1,175.88 Date: 1/31/2016
Perf: $1,160.45 Date: 12/31/2015
Perf: $1,163.35 Date: 11/30/2015
Perf: $1,186.85 Date: 10/31/2015
Perf: $1,195.94 Date: 9/30/2015
Perf: $1,203.65 Date: 8/31/2015
Perf: $1,212.25 Date: 7/31/2015
Perf: $1,201.44 Date: 6/30/2015
Perf: $1,182.40 Date: 5/31/2015
Perf: $1,215.96 Date: 4/30/2015
Perf: $1,226.39 Date: 3/31/2015
Perf: $1,282.30 Date: 2/28/2015
Perf: $1,313.02 Date: 1/31/2015
Perf: $1,384.90 Date: 12/31/2014
Perf: $1,272.65 Date: 11/30/2014
Perf: $1,156.95 Date: 10/31/2014
Perf: $1,005.61 Date: 9/30/2014
Perf: $1,019.06 Date: 8/31/2014
Perf: $876.61 Date: 7/31/2014
Perf: $849.76 Date: 6/30/2014
Perf: $839.02 Date: 5/31/2014
Perf: $810.73 Date: 4/30/2014
Perf: $824.58 Date: 3/31/2014
Perf: $832.91 Date: 2/28/2014
Perf: $846.19 Date: 1/31/2014
Perf: $858.91 Date: 12/31/2013
Perf: $930.16 Date: 11/30/2013
Perf: $944.61 Date: 10/31/2013
Perf: $955.11 Date: 9/30/2013
Perf: $959.91 Date: 8/31/2013
Perf: $963.77 Date: 7/31/2013
Perf: $982.53 Date: 6/30/2013
Perf: $999.53 Date: 5/31/2013
Perf: $1,033.85 Date: 4/30/2013
Perf: $1,049.49 Date: 3/31/2013
Perf: $1,025.79 Date: 2/28/2013
Perf: $1,035.94 Date: 1/31/2013
Perf: $1,059.57 Date: 12/31/2012
Perf: $1,026.12 Date: 11/30/2012
Perf: $1,032.94 Date: 10/31/2012
Perf: $1,038.55 Date: 9/30/2012
Perf: $1,071.22 Date: 8/31/2012
Perf: $1,062.61 Date: 7/31/2012
Perf: $1,054.18 Date: 6/30/2012
Perf: $1,073.39 Date: 5/31/2012
Perf: $1,074.68 Date: 4/30/2012
Perf: $1,083.46 Date: 3/31/2012
Perf: $1,083.89 Date: 2/29/2012
Perf: $1,087.15 Date: 1/31/2012
Perf: $1,076.92 Date: 12/31/2011
Perf: $1,076.38 Date: 11/30/2011
Perf: $1,077.25 Date: 10/31/2011
Perf: $1,079.62 Date: 9/30/2011
Perf: $1,087.67 Date: 8/31/2011
Perf: $1,089.63 Date: 7/31/2011
Perf: $1,061.92 Date: 6/30/2011
Perf: $1,051.61 Date: 5/31/2011
Perf: $1,063.20 Date: 4/30/2011
Perf: $1,118.80 Date: 3/31/2011
Perf: $1,063.00 Date: 2/28/2011
Perf: $1,088.80 Date: 1/31/2011
Perf: $1,103.59 Date: 12/31/2010
Perf: $1,103.26 Date: 11/30/2010
Perf: $1,104.47 Date: 10/31/2010
Perf: $1,097.34 Date: 9/30/2010
Perf: $1,066.00 Date: 8/31/2010
Perf: $1,007.94 Date: 7/31/2010
Perf: $994.42 Date: 6/30/2010
Perf: $985.55 Date: 5/31/2010
Perf: $990.50 Date: 4/30/2010
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 04/10 - 11/18
Date: 11/30/2018
Return: 0.34 % Date: 10/31/2018
Return: 17.95 % Date: 9/30/2018
Return: -1.09 % Date: 8/31/2018
Return: 4.83 % Date: 7/31/2018
Return: 3.61 % Date: 6/30/2018
Return: 0.04 % Date: 5/31/2018
Return: 2.81 % Date: 4/30/2018
Return: 0.09 % Date: 3/31/2018
Return: -5.52 % Date: 2/28/2018
Return: -14.98 % Date: 1/31/2018
Return: 14.29 % Date: 12/31/2017
Return: 2.60 % Date: 11/30/2017
Return: 2.20 % Date: 10/31/2017
Return: 5.68 % Date: 9/30/2017
Return: -1.25 % Date: 8/31/2017
Return: 0.59 % Date: 7/31/2017
Return: 2.64 % Date: 6/30/2017
Return: -3.18 % Date: 5/31/2017
Return: 2.90 % Date: 4/30/2017
Return: 1.33 % Date: 3/31/2017
Return: -0.37 % Date: 2/28/2017
Return: 3.39 % Date: 1/31/2017
Return: -2.40 % Date: 12/31/2016
Return: -0.85 % Date: 11/30/2016
Return: 2.12 % Date: 10/31/2016
Return: -2.15 % Date: 9/30/2016
Return: -2.11 % Date: 8/31/2016
Return: -2.90 % Date: 7/31/2016
Return: 4.10 % Date: 6/30/2016
Return: 2.64 % Date: 5/31/2016
Return: -4.33 % Date: 4/30/2016
Return: 1.87 % Date: 3/31/2016
Return: -3.58 % Date: 2/29/2016
Return: 1.33 % Date: 1/31/2016
Return: -0.25 % Date: 12/31/2015
Return: -1.98 % Date: 11/30/2015
Return: -0.76 % Date: 10/31/2015
Return: -0.64 % Date: 9/30/2015
Return: -0.71 % Date: 8/31/2015
Return: 0.90 % Date: 7/31/2015
Return: 1.61 % Date: 6/30/2015
Return: -2.76 % Date: 5/31/2015
Return: -0.85 % Date: 4/30/2015
Return: -4.36 % Date: 3/31/2015
Return: -2.34 % Date: 2/28/2015
Return: -5.19 % Date: 1/31/2015
Return: 8.82 % Date: 12/31/2014
Return: 10.00 % Date: 11/30/2014
Return: 15.05 % Date: 10/31/2014
Return: -1.32 % Date: 9/30/2014
Return: 16.25 % Date: 8/31/2014
Return: 3.16 % Date: 7/31/2014
Return: 1.28 % Date: 6/30/2014
Return: 3.49 % Date: 5/31/2014
Return: -1.68 % Date: 4/30/2014
Return: -1.00 % Date: 3/31/2014
Return: -1.57 % Date: 2/28/2014
Return: -1.48 % Date: 1/31/2014
Return: -7.66 % Date: 12/31/2013
Return: -1.53 % Date: 11/30/2013
Return: -1.10 % Date: 10/31/2013
Return: -0.50 % Date: 9/30/2013
Return: -0.40 % Date: 8/31/2013
Return: -1.91 % Date: 7/31/2013
Return: -1.70 % Date: 6/30/2013
Return: -3.32 % Date: 5/31/2013
Return: -1.49 % Date: 4/30/2013
Return: 2.31 % Date: 3/31/2013
Return: -0.98 % Date: 2/28/2013
Return: -2.23 % Date: 1/31/2013
Return: 3.26 % Date: 12/31/2012
Return: -0.66 % Date: 11/30/2012
Return: -0.54 % Date: 10/31/2012
Return: -3.05 % Date: 9/30/2012
Return: 0.81 % Date: 8/31/2012
Return: 0.80 % Date: 7/31/2012
Return: -1.79 % Date: 6/30/2012
Return: -0.12 % Date: 5/31/2012
Return: -0.81 % Date: 4/30/2012
Return: -0.04 % Date: 3/31/2012
Return: -0.30 % Date: 2/29/2012
Return: 0.95 % Date: 1/31/2012
Return: 0.05 % Date: 12/31/2011
Return: -0.08 % Date: 11/30/2011
Return: -0.22 % Date: 10/31/2011
Return: -0.74 % Date: 9/30/2011
Return: -0.18 % Date: 8/31/2011
Return: 2.61 % Date: 7/31/2011
Return: 0.98 % Date: 6/30/2011
Return: -1.09 % Date: 5/31/2011
Return: -4.97 % Date: 4/30/2011
Return: 5.25 % Date: 3/31/2011
Return: -2.37 % Date: 2/28/2011
Return: -1.34 % Date: 1/31/2011
Return: 0.03 % Date: 12/31/2010
Return: -0.11 % Date: 11/30/2010
Return: 0.65 % Date: 10/31/2010
Return: 2.94 % Date: 9/30/2010
Return: 5.76 % Date: 8/31/2010
Return: 1.36 % Date: 7/31/2010
Return: 0.90 % Date: 6/30/2010
Return: -0.50 % Date: 5/31/2010
Return: -0.95 % Date: 4/30/2010
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 04/10 - 11/18
Return: 18.00 %
Count: 1 Return: -6.00 %
Count: 1 Return: -15.00 %
Count: 1 Return: 14.00 %
Count: 1 Return: 4.00 %
Count: 2 Return: -4.00 %
Count: 3 Return: 9.00 %
Count: 1 Return: 10.00 %
Count: 1 Return: 15.00 %
Count: 1 Return: 16.00 %
Count: 1 Return: -8.00 %
Count: 1 Return: 2.00 %
Count: 5 Return: -3.00 %
Count: 5 Return: -5.00 %
Count: 2 Return: 5.00 %
Count: 2 Return: -2.00 %
Count: 13 Return: 3.00 %
Count: 11 Return: 6.00 %
Count: 2 Return: 1.00 %
Count: 12 Return: -1.00 %
Count: 21 Return: 0.00 %
Count: 17
Note: All performance data is since program inception.

Underwater Curve

Date Range: 04/10 - 11/18
Date: 11/30/2018
Drawdown: 0.00 % Date: 10/31/2018
Drawdown: 0.00 % Date: 9/30/2018
Drawdown: -11.16 % Date: 8/31/2018
Drawdown: -10.19 % Date: 7/31/2018
Drawdown: -14.32 % Date: 6/30/2018
Drawdown: -17.31 % Date: 5/31/2018
Drawdown: -17.34 % Date: 4/30/2018
Drawdown: -19.60 % Date: 3/31/2018
Drawdown: -19.67 % Date: 2/28/2018
Drawdown: -14.98 % Date: 1/31/2018
Drawdown: 0.00 % Date: 12/31/2017
Drawdown: -7.94 % Date: 11/30/2017
Drawdown: -10.28 % Date: 10/31/2017
Drawdown: -12.21 % Date: 9/30/2017
Drawdown: -16.93 % Date: 8/31/2017
Drawdown: -15.87 % Date: 7/31/2017
Drawdown: -16.37 % Date: 6/30/2017
Drawdown: -18.52 % Date: 5/31/2017
Drawdown: -15.84 % Date: 4/30/2017
Drawdown: -18.21 % Date: 3/31/2017
Drawdown: -19.29 % Date: 2/28/2017
Drawdown: -18.99 % Date: 1/31/2017
Drawdown: -21.64 % Date: 12/31/2016
Drawdown: -19.72 % Date: 11/30/2016
Drawdown: -19.03 % Date: 10/31/2016
Drawdown: -20.71 % Date: 9/30/2016
Drawdown: -18.97 % Date: 8/31/2016
Drawdown: -17.22 % Date: 7/31/2016
Drawdown: -14.75 % Date: 6/30/2016
Drawdown: -18.11 % Date: 5/31/2016
Drawdown: -20.21 % Date: 4/30/2016
Drawdown: -16.60 % Date: 3/31/2016
Drawdown: -18.13 % Date: 2/29/2016
Drawdown: -15.09 % Date: 1/31/2016
Drawdown: -16.21 % Date: 12/31/2015
Drawdown: -16.00 % Date: 11/30/2015
Drawdown: -14.30 % Date: 10/31/2015
Drawdown: -13.64 % Date: 9/30/2015
Drawdown: -13.09 % Date: 8/31/2015
Drawdown: -12.47 % Date: 7/31/2015
Drawdown: -13.25 % Date: 6/30/2015
Drawdown: -14.62 % Date: 5/31/2015
Drawdown: -12.20 % Date: 4/30/2015
Drawdown: -11.45 % Date: 3/31/2015
Drawdown: -7.41 % Date: 2/28/2015
Drawdown: -5.19 % 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: -10.12 % Date: 9/30/2014
Drawdown: -8.91 % Date: 8/31/2014
Drawdown: -21.65 % Date: 7/31/2014
Drawdown: -24.05 % Date: 6/30/2014
Drawdown: -25.01 % Date: 5/31/2014
Drawdown: -27.54 % Date: 4/30/2014
Drawdown: -26.30 % Date: 3/31/2014
Drawdown: -25.55 % Date: 2/28/2014
Drawdown: -24.37 % Date: 1/31/2014
Drawdown: -23.23 % Date: 12/31/2013
Drawdown: -16.86 % Date: 11/30/2013
Drawdown: -15.57 % Date: 10/31/2013
Drawdown: -14.63 % Date: 9/30/2013
Drawdown: -14.20 % Date: 8/31/2013
Drawdown: -13.86 % Date: 7/31/2013
Drawdown: -12.18 % Date: 6/30/2013
Drawdown: -10.66 % Date: 5/31/2013
Drawdown: -7.59 % Date: 4/30/2013
Drawdown: -6.20 % Date: 3/31/2013
Drawdown: -8.31 % Date: 2/28/2013
Drawdown: -7.41 % Date: 1/31/2013
Drawdown: -5.29 % Date: 12/31/2012
Drawdown: -8.28 % Date: 11/30/2012
Drawdown: -7.67 % Date: 10/31/2012
Drawdown: -7.17 % Date: 9/30/2012
Drawdown: -4.25 % Date: 8/31/2012
Drawdown: -5.02 % Date: 7/31/2012
Drawdown: -5.78 % Date: 6/30/2012
Drawdown: -4.06 % Date: 5/31/2012
Drawdown: -3.94 % Date: 4/30/2012
Drawdown: -3.16 % Date: 3/31/2012
Drawdown: -3.12 % Date: 2/29/2012
Drawdown: -2.83 % Date: 1/31/2012
Drawdown: -3.74 % Date: 12/31/2011
Drawdown: -3.79 % Date: 11/30/2011
Drawdown: -3.71 % Date: 10/31/2011
Drawdown: -3.50 % Date: 9/30/2011
Drawdown: -2.78 % Date: 8/31/2011
Drawdown: -2.61 % Date: 7/31/2011
Drawdown: -5.08 % Date: 6/30/2011
Drawdown: -6.01 % Date: 5/31/2011
Drawdown: -4.97 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -3.76 % Date: 2/28/2011
Drawdown: -1.42 % Date: 1/31/2011
Drawdown: -0.08 % Date: 12/31/2010
Drawdown: -0.11 % Date: 11/30/2010
Drawdown: 0.00 % Date: 10/31/2010
Drawdown: 0.00 % Date: 9/30/2010
Drawdown: 0.00 % Date: 8/31/2010
Drawdown: 0.00 % Date: 7/31/2010
Drawdown: -0.56 % Date: 6/30/2010
Drawdown: -1.45 % Date: 5/31/2010
Drawdown: -0.95 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Westphal Trading
Address: 227 S Maple Glade Cir
City: The Woodlands
State: TX
Zip: 77382
Country: USA

Key People

Name:  Andrew Westphal
Position:  Chief Executive Officer
Biography: 

Mr. Westphal is a British Citizen who moved to the United States in December 2009 on an Entrepreneur Visa. Mr Westphal has been trading in the financial markets since 1984. Since November 1998 Mr Westphal has been the CEO of Westphal Trading Ltd (United Kingdom) where he has been investing in both real estate and futures trading. From July 1997 to October 1998 Mr. Westphal was a Commodity Trader for Manro Haydan, London a proprietary commodity trading company. From October 1996 to June 1997, Mr. Westphal was an Associated Person and Trading Principal of Marshall Hill, a CTA where he managed client accounts. From March 1992 to October 1996 Mr Westphal was a Vice President and an Associated Person of Winchester Asset Management, a CTA where he managed client accounts. From November 1989 through to June 1992 Mr. Westphal was a co-founder and Director of FX24, a foreign exchange consultancy firm. From April 1989 through June 1991 Mr. Westphal was the Senior Proprietary Trader for the State bank of South Australia London. From April 1987 through April 1989 Mr. Westphal was a Senior Foreign Exchange Trader for the National Bank of Canada, London. From January 1986 through April 1987 Mr. Westphal was a Foreign Exchange Trader for First National Bank of Boston, London. From January 1984 until January 1986 Mr. Westphal was a Foreign Exchange Trader for Sanwa Bank, London. Mr. Westphal attended the United Kingdom's Open University between 2002 and 2007. There he attained a Bachelor of Science Honours Degree in Economics and Business and University Certificates in Mathematics, Computing and ICT.


Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Interest Rates Yes 
 Currencies Yes 
 Metals Yes 
 Energies Yes 
 Softs Yes 
 Grains Yes 
 Investment Methodology
 Technical Yes 
 Trend Following Yes 
 Systematic Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Developed Only Yes 
 United States Yes 
 Europe Yes 
 Asia Yes 
 Holding Period
 Long Term Yes 
 Medium Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $1,000,000 
 Margin / Equity Ratio: 5% 
 Managed Account Availability: Open