Greenwave Capital Management, LLC

Greenwave Flagship Plus 2X *QEP*


Monthly Performance (%)

Date Range: 03/16 - 11/18
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2018 2.43 -0.41 -1.35 1.75 0.05 1.31 -1.12 2.36 -0.20 1.74 -0.25   6.39 
2017 -0.50 -2.76 1.58 -0.76 1.56 0.94 0.69 1.98 0.80 -0.78 -1.83 -1.54  -0.75 
2016 -1.51 1.99 0.43 0.70 -0.38 -3.16 5.00 1.72 0.15  4.83 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

Greenwave Flagship Plus 2X is a Discretionary Global Macro strategy with an emphasis on G20 Currencies. The strategy combines medium to long term fundamental and quantitative analysis with tactical trading to adapt to changing market conditions. Key differentiators include low downside volatility and low historical drawdowns. In order to control downside volatility, Greenwave engages in rigorous risk management with a focus on liquid markets and defined risk. The returns are uncorrelated to actively managed FX, Macro, CTA, and equity strategies.

Performance Statistics

Date Range: 03/16 - 11/18
  Program S&P 500 Altegris 40 
Total Return 10.70% 51.09% -11.84% 
Annualized Return 3.89% 16.19% -4.48% 
Annualized Std. Deviation 5.80% 8.77% 7.64% 
Correlation -0.10 0.01 
Sharpe Ratio (rf=2.5%) 0.24 1.56 -0.91 
Worst Month -3.16% -6.84% -6.10% 
Date of Worst Month 09/2016 10/2018 02/2018 
Worst Drawdown -4.10% -6.84% -12.29% 
Date of Worst Drawdown 9/17 - 12/17 9/18 - 10/18 7/16 - 9/17 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 03/16 - 11/18

Year or YTD Program S&P 500 Altegris 40 
2018 6.39 5.11 -4.69 
2017 -0.75 21.84 1.24 
2016 4.83 10.49 -5.94 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 03/16 - 11/18
Date: 11/30/2018
Perf: $907.67 Date: 10/31/2018
Perf: $918.69 Date: 9/30/2018
Perf: $941.96 Date: 8/31/2018
Perf: $946.21 Date: 7/31/2018
Perf: $922.69 Date: 6/30/2018
Perf: $929.66 Date: 5/31/2018
Perf: $921.91 Date: 4/30/2018
Perf: $933.96 Date: 3/31/2018
Perf: $923.98 Date: 2/28/2018
Perf: $924.81 Date: 1/31/2018
Perf: $984.89 Date: 12/31/2017
Perf: $952.32 Date: 11/30/2017
Perf: $942.06 Date: 10/31/2017
Perf: $940.83 Date: 9/30/2017
Perf: $903.00 Date: 8/31/2017
Perf: $922.46 Date: 7/31/2017
Perf: $907.40 Date: 6/30/2017
Perf: $903.87 Date: 5/31/2017
Perf: $931.06 Date: 4/30/2017
Perf: $929.29 Date: 3/31/2017
Perf: $934.90 Date: 2/28/2017
Perf: $948.76 Date: 1/31/2017
Perf: $928.51 Date: 12/31/2016
Perf: $940.65 Date: 11/30/2016
Perf: $933.55 Date: 10/31/2016
Perf: $943.94 Date: 9/30/2016
Perf: $968.94 Date: 8/31/2016
Perf: $981.60 Date: 7/31/2016
Perf: $1,008.73 Date: 6/30/2016
Perf: $998.55 Date: 5/31/2016
Perf: $957.84 Date: 4/30/2016
Perf: $974.90 Date: 3/31/2016
Perf: $1,000.00 Date: 11/30/2018
Perf: $1,414.98 Date: 10/31/2018
Perf: $1,386.69 Date: 9/30/2018
Perf: $1,488.50 Date: 8/31/2018
Perf: $1,480.07 Date: 7/31/2018
Perf: $1,433.34 Date: 6/30/2018
Perf: $1,381.93 Date: 5/31/2018
Perf: $1,373.42 Date: 4/30/2018
Perf: $1,341.10 Date: 3/31/2018
Perf: $1,336.02 Date: 2/28/2018
Perf: $1,370.84 Date: 1/31/2018
Perf: $1,423.36 Date: 12/31/2017
Perf: $1,346.22 Date: 11/30/2017
Perf: $1,331.44 Date: 10/31/2017
Perf: $1,291.79 Date: 9/30/2017
Perf: $1,262.37 Date: 8/31/2017
Perf: $1,236.89 Date: 7/31/2017
Perf: $1,233.07 Date: 6/30/2017
Perf: $1,208.18 Date: 5/31/2017
Perf: $1,200.74 Date: 4/30/2017
Perf: $1,184.04 Date: 3/31/2017
Perf: $1,171.97 Date: 2/28/2017
Perf: $1,170.57 Date: 1/31/2017
Perf: $1,125.87 Date: 12/31/2016
Perf: $1,104.88 Date: 11/30/2016
Perf: $1,083.43 Date: 10/31/2016
Perf: $1,044.77 Date: 9/30/2016
Perf: $1,064.14 Date: 8/31/2016
Perf: $1,063.92 Date: 7/31/2016
Perf: $1,062.44 Date: 6/30/2016
Perf: $1,024.63 Date: 5/31/2016
Perf: $1,021.97 Date: 4/30/2016
Perf: $1,003.90 Date: 3/31/2016
Perf: $1,000.00 Date: 11/30/2018
Perf: $1,107.02 Date: 10/31/2018
Perf: $1,109.80 Date: 9/30/2018
Perf: $1,090.82 Date: 8/31/2018
Perf: $1,093.00 Date: 7/31/2018
Perf: $1,067.80 Date: 6/30/2018
Perf: $1,079.90 Date: 5/31/2018
Perf: $1,065.94 Date: 4/30/2018
Perf: $1,065.40 Date: 3/31/2018
Perf: $1,047.08 Date: 2/28/2018
Perf: $1,061.41 Date: 1/31/2018
Perf: $1,065.78 Date: 12/31/2017
Perf: $1,040.49 Date: 11/30/2017
Perf: $1,056.77 Date: 10/31/2017
Perf: $1,076.47 Date: 9/30/2017
Perf: $1,084.93 Date: 8/31/2017
Perf: $1,076.32 Date: 7/31/2017
Perf: $1,055.42 Date: 6/30/2017
Perf: $1,048.19 Date: 5/31/2017
Perf: $1,038.43 Date: 4/30/2017
Perf: $1,022.48 Date: 3/31/2017
Perf: $1,030.31 Date: 2/28/2017
Perf: $1,014.28 Date: 1/31/2017
Perf: $1,043.07 Date: 12/31/2016
Perf: $1,048.31 Date: 11/30/2016
Perf: $1,046.74 Date: 10/31/2016
Perf: $1,029.04 Date: 9/30/2016
Perf: $980.04 Date: 8/31/2016
Perf: $1,012.02 Date: 7/31/2016
Perf: $1,015.88 Date: 6/30/2016
Perf: $1,008.82 Date: 5/31/2016
Perf: $1,004.50 Date: 4/30/2016
Perf: $984.90 Date: 3/31/2016
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 03/16 - 11/18
Date: 11/30/2018
Return: -0.25 % Date: 10/31/2018
Return: 1.74 % Date: 9/30/2018
Return: -0.20 % Date: 8/31/2018
Return: 2.36 % Date: 7/31/2018
Return: -1.12 % Date: 6/30/2018
Return: 1.31 % Date: 5/31/2018
Return: 0.05 % Date: 4/30/2018
Return: 1.75 % Date: 3/31/2018
Return: -1.35 % Date: 2/28/2018
Return: -0.41 % Date: 1/31/2018
Return: 2.43 % Date: 12/31/2017
Return: -1.54 % Date: 11/30/2017
Return: -1.83 % Date: 10/31/2017
Return: -0.78 % Date: 9/30/2017
Return: 0.80 % Date: 8/31/2017
Return: 1.98 % Date: 7/31/2017
Return: 0.69 % Date: 6/30/2017
Return: 0.94 % Date: 5/31/2017
Return: 1.56 % Date: 4/30/2017
Return: -0.76 % Date: 3/31/2017
Return: 1.58 % Date: 2/28/2017
Return: -2.76 % Date: 1/31/2017
Return: -0.50 % Date: 12/31/2016
Return: 0.15 % Date: 11/30/2016
Return: 1.72 % Date: 10/31/2016
Return: 5.00 % Date: 9/30/2016
Return: -3.16 % Date: 8/31/2016
Return: -0.38 % Date: 7/31/2016
Return: 0.70 % Date: 6/30/2016
Return: 0.43 % Date: 5/31/2016
Return: 1.99 % Date: 4/30/2016
Return: -1.51 % Date: 3/31/2016
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 03/16 - 11/18
Return: -1.00 %
Count: 5 Return: 5.00 %
Count: 1 Return: -3.00 %
Count: 2 Return: 1.00 %
Count: 5 Return: 2.00 %
Count: 9 Return: -2.00 %
Count: 3 Return: 0.00 %
Count: 8
Note: All performance data is since program inception.

Underwater Curve

Date Range: 03/16 - 11/18
Date: 11/30/2018
Drawdown: -0.25 % Date: 10/31/2018
Drawdown: 0.00 % Date: 9/30/2018
Drawdown: -0.20 % Date: 8/31/2018
Drawdown: 0.00 % Date: 7/31/2018
Drawdown: -1.58 % Date: 6/30/2018
Drawdown: -0.46 % Date: 5/31/2018
Drawdown: -1.75 % Date: 4/30/2018
Drawdown: -1.80 % Date: 3/31/2018
Drawdown: -3.49 % Date: 2/28/2018
Drawdown: -2.17 % Date: 1/31/2018
Drawdown: -1.77 % Date: 12/31/2017
Drawdown: -4.10 % Date: 11/30/2017
Drawdown: -2.60 % Date: 10/31/2017
Drawdown: -0.78 % Date: 9/30/2017
Drawdown: 0.00 % Date: 8/31/2017
Drawdown: 0.00 % Date: 7/31/2017
Drawdown: 0.00 % Date: 6/30/2017
Drawdown: -0.01 % Date: 5/31/2017
Drawdown: -0.94 % Date: 4/30/2017
Drawdown: -2.46 % Date: 3/31/2017
Drawdown: -1.72 % Date: 2/28/2017
Drawdown: -3.25 % Date: 1/31/2017
Drawdown: -0.50 % Date: 12/31/2016
Drawdown: 0.00 % Date: 11/30/2016
Drawdown: 0.00 % Date: 10/31/2016
Drawdown: 0.00 % Date: 9/30/2016
Drawdown: -3.53 % Date: 8/31/2016
Drawdown: -0.38 % Date: 7/31/2016
Drawdown: 0.00 % Date: 6/30/2016
Drawdown: 0.00 % Date: 5/31/2016
Drawdown: 0.00 % Date: 4/30/2016
Drawdown: -1.51 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Greenwave Capital Management, LLC
Address: 221 W 6th Street, Suite 1040
City: Austin
State: TX
Zip: 78701
Country: USA

Key People

Name:  Raj Idnani
Position:  Principal
Biography: 

The Manager is a Principal of Greenwave Capital Management and the Managing Principal of Blueprint Capital, a family office specializing in alternative investments. The Manager is responsible for the business aspects of Greenwave, including Operations, Financial, and Legal. Prior to joining the family office in 1999, the Manager was employed with the Option Operations group at Bear Stearns Securities, Inc. The Manager received his BA from the Olin School of Business at Washington University in St. Louis in 1998, and his MBA from the University Of Chicago Booth School Of Business in 2006.


Name:  Jamie Charles
Position:  Principal
Biography: 

The Manager is the Chief Investment Officer of Greenwave Capital Management. He is responsible for research, trading, and portfolio management. Formerly, the Manager managed assets for and was employed at Denali Asset Management in Chicago and St. Croix, USVI from 1998 through December 2006. The Manager was a senior portfolio manager for Denali’s Global Macro Hedge Fund. In the first 16 years after graduating in 1981 with Honors in Economics from Lafayette College, the Manager worked as a market maker and portfolio manager for Bank of America, First Interstate, Citibank, First Chicago, Credit Suisse, First Boston, and ABN AMRO.


Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Currencies Yes 
 Investment Methodology
 Fundamental Analysis Yes 
 Discretionary Yes 
 Sector Specialist Yes 
 Quantitative Analysis Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Long Term Yes 
 Medium Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $1,500,000 
 Margin / Equity Ratio: 6% 
 Managed Account Availability: Open