Drury Capital, Inc.

Diversified Trend-Following Program *QEP*


Monthly Performance (%)

Date Range: 04/97 - 04/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 -5.91 -1.63 7.94 3.90   3.80 
2018 2.01 -8.97 2.68 0.32 5.02 -2.07 -0.90 0.95 2.46 -9.49 1.83 1.11  -6.03 
2017 -1.58 6.96 -4.34 0.35 -0.72 -7.05 1.35 7.24 -4.93 10.24 -1.60 3.06  7.72 
2016 2.90 2.82 -3.00 -7.95 -1.46 1.57 0.97 -1.23 -2.21 1.59 3.44 0.86  -2.27 
2015 2.31 -3.12 1.20 -4.51 0.10 -9.26 6.38 -4.63 4.15 -0.77 10.49 -3.13  -2.36 
2014 -5.28 -1.95 -4.81 0.65 5.72 0.55 -1.74 7.37 7.38 4.71 9.68 -1.87  20.76 
2013 0.21 3.01 2.48 8.18 -2.49 -3.79 1.04 -6.48 2.53 4.97 2.85 -2.42  9.58 
2012 0.98 4.23 2.87 -0.25 -0.20 -7.50 3.17 -1.26 -3.41 -4.22 -0.43 1.93  -4.64 
2011 3.49 6.21 -7.05 3.78 -9.48 -7.00 0.52 -8.34 8.00 -8.98 1.38 2.32  -16.14 
2010 -6.25 -1.35 6.12 0.38 -7.87 0.18 -4.88 2.66 4.19 4.12 -4.19 9.06  0.65 
2009 -1.82 2.10 -3.64 -2.72 1.82 -0.23 6.57 2.67 1.54 -3.51 6.50 0.10  9.09 
2008 6.78 11.17 -8.45 -5.44 7.44 6.63 -9.45 1.92 16.95 23.37 6.57 5.14  75.65 
2007 3.33 -3.51 0.08 3.21 3.39 7.79 -5.60 -5.31 2.93 -0.67 3.51 -3.29  5.00 
2006 -0.51 -0.69 0.37 2.38 -2.15 -1.28 -6.44 -1.22 0.91 -4.46 -6.35 3.38  -15.40 
2005 -2.34 -4.57 0.27 -5.56 -4.02 -2.42 -0.65 1.83 1.15 0.95 7.85 -2.78  -10.47 
2004 2.45 11.09 2.33 -6.97 -6.06 -1.21 -0.45 -5.85 7.78 -1.13 7.20 -0.36  7.27 
2003 7.76 6.94 -6.32 -4.10 9.42 -6.35 -4.41 -0.87 4.17 13.80 -1.03 6.64  25.77 
2002 0.52 -1.32 -2.05 -3.68 -5.13 11.62 4.82 3.75 4.35 -9.42 -5.97 10.19  5.55 
2001 -6.20 4.95 15.48 -4.19 2.41 4.97 -3.66 2.03 6.23 3.82 -9.34 4.82  20.62 
2000 -5.58 0.35 -1.59 11.91 1.14 -4.41 1.49 4.92 -1.70 3.26 6.33 -0.12  15.80 
1999 0.06 6.05 -2.82 4.46 -5.56 -0.36 -4.43 8.54 -3.59 -1.24 5.20 4.88  10.46 
1998 7.84 6.11 6.60 -5.46 7.78 2.20 -1.38 19.34 -5.22 -2.74 4.25 2.46  47.21 
1997 -4.57 14.98 12.49 -2.12 -2.08 -9.35 17.34 3.64  30.42 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The Diversified Trend-Following Program is a long-term systematic trend-following strategy with relatively low correlation to other major CTAs. Unlike the larger CTAs, the DTFP portfolio achieves a high level of diversification by having a risk profile of roughly half commodity futures and half financial instruments. The commodity exposure includes agricultural/soft futures, energy futures and both base and precious metal futures. The financial exposure includes interest rate futures, stock index futures and foreign exchange. The Diversified Trend-Following Program has no market or sector bias based on the belief that each instrument can produce long-term profits through the application of independent technical analysis and risk management. Positions can be long, short or flat while awaiting a signal. Numerous models are traded, but all are trend-following in nature. The benefit of different models is to provide diversification, for any given instrument, away from a single entry and exit point, hence to reduce the volatility of the overall portfolio. The trading program targets 20% return with a volatility of 18%. The average trade duration for a winning trade is about 8 months and for a losing trade it is about 2 months. The Diversified Trend-Following Program began trading client funds May 1997.

Performance Statistics

Date Range: 04/97 - 04/19
  Program S&P 500 Altegris 40 
Total Return 586.52% 489.74% 173.79% 
Annualized Return 9.15% 8.37% 4.67% 
Annualized Std. Deviation 19.35% 14.93% 10.00% 
Correlation -0.14 0.67 
Sharpe Ratio (rf=2.5%) 0.34 0.39 0.22 
Worst Month -9.49% -16.79% -7.77% 
Date of Worst Month 10/2018 10/2008 11/2001 
Worst Drawdown -32.52% -50.95% -15.74% 
Date of Worst Drawdown 3/04 - 11/06 10/07 - 2/09 4/11 - 9/13 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 04/97 - 04/19

Year or YTD Program S&P 500 Altegris 40 
2019 3.80 18.24 5.17 
2018 -6.03 -4.38 -4.29 
2017 7.72 21.84 1.24 
2016 -2.27 11.98 -3.13 
2015 -2.36 1.41 0.09 
2014 20.76 13.69 15.75 
2013 9.58 32.41 -2.45 
2012 -4.64 15.98 -4.75 
2011 -16.14 2.12 -3.23 
2010 0.65 15.06 11.33 
2009 9.09 26.45 -7.98 
2008 75.65 -36.99 15.47 
2007 5.00 5.50 7.18 
2006 -15.40 15.79 6.70 
2005 -10.47 4.89 4.51 
2004 7.27 10.87 2.57 
2003 25.77 28.69 15.99 
2002 5.55 -22.10 15.22 
2001 20.62 -11.88 5.39 
2000 15.80 -9.09 10.63 
1999 10.46 21.04 0.87 
1998 47.21 28.58 12.61 
1997 30.42 22.58 6.20 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 04/97 - 04/19
Date: 4/30/2019
Perf: $2,803.48 Date: 3/31/2019
Perf: $2,728.45 Date: 2/28/2019
Perf: $2,633.89 Date: 1/31/2019
Perf: $2,617.14 Date: 12/31/2018
Perf: $2,665.66 Date: 11/30/2018
Perf: $2,654.51 Date: 10/31/2018
Perf: $2,686.75 Date: 9/30/2018
Perf: $2,754.79 Date: 8/31/2018
Perf: $2,767.25 Date: 7/31/2018
Perf: $2,698.44 Date: 6/30/2018
Perf: $2,718.83 Date: 5/31/2018
Perf: $2,696.18 Date: 4/30/2018
Perf: $2,731.41 Date: 3/31/2018
Perf: $2,702.23 Date: 2/28/2018
Perf: $2,704.66 Date: 1/31/2018
Perf: $2,880.37 Date: 12/31/2017
Perf: $2,785.12 Date: 11/30/2017
Perf: $2,755.08 Date: 10/31/2017
Perf: $2,751.51 Date: 9/30/2017
Perf: $2,640.86 Date: 8/31/2017
Perf: $2,697.78 Date: 7/31/2017
Perf: $2,653.73 Date: 6/30/2017
Perf: $2,643.42 Date: 5/31/2017
Perf: $2,722.93 Date: 4/30/2017
Perf: $2,717.76 Date: 3/31/2017
Perf: $2,734.17 Date: 2/28/2017
Perf: $2,774.68 Date: 1/31/2017
Perf: $2,715.48 Date: 12/31/2016
Perf: $2,750.97 Date: 11/30/2016
Perf: $2,730.22 Date: 10/31/2016
Perf: $2,760.59 Date: 9/30/2016
Perf: $2,833.69 Date: 8/31/2016
Perf: $2,870.73 Date: 7/31/2016
Perf: $2,950.08 Date: 6/30/2016
Perf: $2,920.30 Date: 5/31/2016
Perf: $2,801.24 Date: 4/30/2016
Perf: $2,851.14 Date: 3/31/2016
Perf: $2,924.55 Date: 2/29/2016
Perf: $3,010.96 Date: 1/31/2016
Perf: $2,938.67 Date: 12/31/2015
Perf: $2,839.84 Date: 11/30/2015
Perf: $2,906.70 Date: 10/31/2015
Perf: $2,810.85 Date: 9/30/2015
Perf: $2,860.62 Date: 8/31/2015
Perf: $2,799.86 Date: 7/31/2015
Perf: $2,849.15 Date: 6/30/2015
Perf: $2,741.94 Date: 5/31/2015
Perf: $2,892.35 Date: 4/30/2015
Perf: $2,913.32 Date: 3/31/2015
Perf: $3,030.29 Date: 2/28/2015
Perf: $2,964.77 Date: 1/31/2015
Perf: $2,969.52 Date: 12/31/2014
Perf: $2,837.30 Date: 11/30/2014
Perf: $2,788.23 Date: 10/31/2014
Perf: $2,631.65 Date: 9/30/2014
Perf: $2,593.52 Date: 8/31/2014
Perf: $2,555.45 Date: 7/31/2014
Perf: $2,451.74 Date: 6/30/2014
Perf: $2,471.51 Date: 5/31/2014
Perf: $2,450.44 Date: 4/30/2014
Perf: $2,389.27 Date: 3/31/2014
Perf: $2,371.25 Date: 2/28/2014
Perf: $2,406.87 Date: 1/31/2014
Perf: $2,387.30 Date: 12/31/2013
Perf: $2,451.27 Date: 11/30/2013
Perf: $2,454.71 Date: 10/31/2013
Perf: $2,411.07 Date: 9/30/2013
Perf: $2,357.09 Date: 8/31/2013
Perf: $2,371.32 Date: 7/31/2013
Perf: $2,417.74 Date: 6/30/2013
Perf: $2,438.96 Date: 5/31/2013
Perf: $2,535.04 Date: 4/30/2013
Perf: $2,648.94 Date: 3/31/2013
Perf: $2,582.32 Date: 2/28/2013
Perf: $2,545.66 Date: 1/31/2013
Perf: $2,560.51 Date: 12/31/2012
Perf: $2,512.77 Date: 11/30/2012
Perf: $2,500.52 Date: 10/31/2012
Perf: $2,493.54 Date: 9/30/2012
Perf: $2,587.19 Date: 8/31/2012
Perf: $2,630.60 Date: 7/31/2012
Perf: $2,666.87 Date: 6/30/2012
Perf: $2,562.08 Date: 5/31/2012
Perf: $2,662.17 Date: 4/30/2012
Perf: $2,612.54 Date: 3/31/2012
Perf: $2,596.95 Date: 2/29/2012
Perf: $2,657.27 Date: 1/31/2012
Perf: $2,646.42 Date: 12/31/2011
Perf: $2,637.98 Date: 11/30/2011
Perf: $2,612.90 Date: 10/31/2011
Perf: $2,605.08 Date: 9/30/2011
Perf: $2,712.50 Date: 8/31/2011
Perf: $2,714.13 Date: 7/31/2011
Perf: $2,719.57 Date: 6/30/2011
Perf: $2,625.32 Date: 5/31/2011
Perf: $2,695.40 Date: 4/30/2011
Perf: $2,797.51 Date: 3/31/2011
Perf: $2,692.50 Date: 2/28/2011
Perf: $2,734.33 Date: 1/31/2011
Perf: $2,688.63 Date: 12/31/2010
Perf: $2,725.97 Date: 11/30/2010
Perf: $2,613.84 Date: 10/31/2010
Perf: $2,709.77 Date: 9/30/2010
Perf: $2,608.55 Date: 8/31/2010
Perf: $2,561.93 Date: 7/31/2010
Perf: $2,460.08 Date: 6/30/2010
Perf: $2,492.23 Date: 5/31/2010
Perf: $2,482.79 Date: 4/30/2010
Perf: $2,544.37 Date: 3/31/2010
Perf: $2,505.78 Date: 2/28/2010
Perf: $2,410.10 Date: 1/31/2010
Perf: $2,387.65 Date: 12/31/2009
Perf: $2,448.63 Date: 11/30/2009
Perf: $2,550.65 Date: 10/31/2009
Perf: $2,451.84 Date: 9/30/2009
Perf: $2,516.26 Date: 8/31/2009
Perf: $2,457.76 Date: 7/31/2009
Perf: $2,449.68 Date: 6/30/2009
Perf: $2,452.38 Date: 5/31/2009
Perf: $2,519.39 Date: 4/30/2009
Perf: $2,485.10 Date: 3/31/2009
Perf: $2,569.11 Date: 2/28/2009
Perf: $2,642.30 Date: 1/31/2009
Perf: $2,643.62 Date: 12/31/2008
Perf: $2,660.92 Date: 11/30/2008
Perf: $2,594.25 Date: 10/31/2008
Perf: $2,502.41 Date: 9/30/2008
Perf: $2,379.85 Date: 8/31/2008
Perf: $2,374.86 Date: 7/31/2008
Perf: $2,440.01 Date: 6/30/2008
Perf: $2,557.39 Date: 5/31/2008
Perf: $2,490.88 Date: 4/30/2008
Perf: $2,440.61 Date: 3/31/2008
Perf: $2,469.00 Date: 2/29/2008
Perf: $2,479.91 Date: 1/31/2008
Perf: $2,346.40 Date: 12/31/2007
Perf: $2,304.46 Date: 11/30/2007
Perf: $2,309.77 Date: 10/31/2007
Perf: $2,324.89 Date: 9/30/2007
Perf: $2,228.82 Date: 8/31/2007
Perf: $2,129.38 Date: 7/31/2007
Perf: $2,211.88 Date: 6/30/2007
Perf: $2,282.41 Date: 5/31/2007
Perf: $2,218.30 Date: 4/30/2007
Perf: $2,141.84 Date: 3/31/2007
Perf: $2,055.51 Date: 2/28/2007
Perf: $2,104.76 Date: 1/31/2007
Perf: $2,186.76 Date: 12/31/2006
Perf: $2,150.00 Date: 11/30/2006
Perf: $2,079.70 Date: 10/31/2006
Perf: $2,029.97 Date: 9/30/2006
Perf: $2,007.88 Date: 8/31/2006
Perf: $2,029.39 Date: 7/31/2006
Perf: $2,006.92 Date: 6/30/2006
Perf: $2,037.06 Date: 5/31/2006
Perf: $2,065.36 Date: 4/30/2006
Perf: $2,121.58 Date: 3/31/2006
Perf: $2,071.05 Date: 2/28/2006
Perf: $2,016.99 Date: 1/31/2006
Perf: $2,053.55 Date: 12/31/2005
Perf: $2,015.06 Date: 11/30/2005
Perf: $2,052.20 Date: 10/31/2005
Perf: $1,967.79 Date: 9/30/2005
Perf: $1,964.64 Date: 8/31/2005
Perf: $1,934.85 Date: 7/31/2005
Perf: $1,924.45 Date: 6/30/2005
Perf: $1,923.30 Date: 5/31/2005
Perf: $1,859.88 Date: 4/30/2005
Perf: $1,804.13 Date: 3/31/2005
Perf: $1,849.44 Date: 2/28/2005
Perf: $1,859.86 Date: 1/31/2005
Perf: $1,847.11 Date: 12/31/2004
Perf: $1,928.09 Date: 11/30/2004
Perf: $1,921.75 Date: 10/31/2004
Perf: $1,823.12 Date: 9/30/2004
Perf: $1,762.83 Date: 8/31/2004
Perf: $1,739.35 Date: 7/31/2004
Perf: $1,751.43 Date: 6/30/2004
Perf: $1,771.63 Date: 5/31/2004
Perf: $1,832.09 Date: 4/30/2004
Perf: $1,861.69 Date: 3/31/2004
Perf: $1,985.17 Date: 2/29/2004
Perf: $2,004.81 Date: 1/31/2004
Perf: $1,897.78 Date: 12/31/2003
Perf: $1,879.73 Date: 11/30/2003
Perf: $1,801.72 Date: 10/31/2003
Perf: $1,807.14 Date: 9/30/2003
Perf: $1,767.38 Date: 8/31/2003
Perf: $1,775.54 Date: 7/31/2003
Perf: $1,759.01 Date: 6/30/2003
Perf: $1,799.68 Date: 5/31/2003
Perf: $1,846.02 Date: 4/30/2003
Perf: $1,743.66 Date: 3/31/2003
Perf: $1,718.40 Date: 2/28/2003
Perf: $1,822.66 Date: 1/31/2003
Perf: $1,719.98 Date: 12/31/2002
Perf: $1,620.63 Date: 11/30/2002
Perf: $1,527.60 Date: 10/31/2002
Perf: $1,570.96 Date: 9/30/2002
Perf: $1,656.78 Date: 8/31/2002
Perf: $1,583.77 Date: 7/31/2002
Perf: $1,546.50 Date: 6/30/2002
Perf: $1,468.10 Date: 5/31/2002
Perf: $1,348.86 Date: 4/30/2002
Perf: $1,314.81 Date: 3/31/2002
Perf: $1,346.59 Date: 2/28/2002
Perf: $1,350.50 Date: 1/31/2002
Perf: $1,389.69 Date: 12/31/2001
Perf: $1,406.57 Date: 11/30/2001
Perf: $1,377.51 Date: 10/31/2001
Perf: $1,493.56 Date: 9/30/2001
Perf: $1,431.71 Date: 8/31/2001
Perf: $1,388.93 Date: 7/31/2001
Perf: $1,348.60 Date: 6/30/2001
Perf: $1,345.64 Date: 5/31/2001
Perf: $1,360.61 Date: 4/30/2001
Perf: $1,360.20 Date: 3/31/2001
Perf: $1,449.49 Date: 2/28/2001
Perf: $1,361.28 Date: 1/31/2001
Perf: $1,348.47 Date: 12/31/2000
Perf: $1,334.59 Date: 11/30/2000
Perf: $1,233.11 Date: 10/31/2000
Perf: $1,160.46 Date: 9/30/2000
Perf: $1,136.70 Date: 8/31/2000
Perf: $1,156.83 Date: 7/31/2000
Perf: $1,133.48 Date: 6/30/2000
Perf: $1,153.79 Date: 5/31/2000
Perf: $1,171.95 Date: 4/30/2000
Perf: $1,156.12 Date: 3/31/2000
Perf: $1,173.84 Date: 2/29/2000
Perf: $1,203.69 Date: 1/31/2000
Perf: $1,217.33 Date: 12/31/1999
Perf: $1,206.35 Date: 11/30/1999
Perf: $1,190.99 Date: 10/31/1999
Perf: $1,168.32 Date: 9/30/1999
Perf: $1,222.35 Date: 8/31/1999
Perf: $1,218.08 Date: 7/31/1999
Perf: $1,210.82 Date: 6/30/1999
Perf: $1,220.34 Date: 5/31/1999
Perf: $1,189.41 Date: 4/30/1999
Perf: $1,209.49 Date: 3/31/1999
Perf: $1,173.47 Date: 2/28/1999
Perf: $1,183.05 Date: 1/31/1999
Perf: $1,161.33 Date: 12/31/1998
Perf: $1,195.89 Date: 11/30/1998
Perf: $1,168.43 Date: 10/31/1998
Perf: $1,190.22 Date: 9/30/1998
Perf: $1,195.00 Date: 8/31/1998
Perf: $1,143.86 Date: 7/31/1998
Perf: $1,059.82 Date: 6/30/1998
Perf: $1,057.60 Date: 5/31/1998
Perf: $1,056.33 Date: 4/30/1998
Perf: $1,030.17 Date: 3/31/1998
Perf: $1,072.75 Date: 2/28/1998
Perf: $1,060.35 Date: 1/31/1998
Perf: $1,068.68 Date: 12/31/1997
Perf: $1,061.99 Date: 11/30/1997
Perf: $1,034.27 Date: 10/31/1997
Perf: $1,019.99 Date: 9/30/1997
Perf: $1,026.36 Date: 8/31/1997
Perf: $1,013.59 Date: 7/31/1997
Perf: $1,064.25 Date: 6/30/1997
Perf: $994.81 Date: 5/31/1997
Perf: $983.40 Date: 4/30/1997
Perf: $1,000.00 Date: 4/30/2019
Perf: $5,565.18 Date: 3/31/2019
Perf: $5,348.56 Date: 2/28/2019
Perf: $5,246.77 Date: 1/31/2019
Perf: $5,083.59 Date: 12/31/2018
Perf: $4,706.59 Date: 11/30/2018
Perf: $5,173.78 Date: 10/31/2018
Perf: $5,070.35 Date: 9/30/2018
Perf: $5,442.63 Date: 8/31/2018
Perf: $5,411.78 Date: 7/31/2018
Perf: $5,240.92 Date: 6/30/2018
Perf: $5,052.95 Date: 5/31/2018
Perf: $5,021.82 Date: 4/30/2018
Perf: $4,903.64 Date: 3/31/2018
Perf: $4,885.08 Date: 2/28/2018
Perf: $5,012.39 Date: 1/31/2018
Perf: $5,204.44 Date: 12/31/2017
Perf: $4,922.38 Date: 11/30/2017
Perf: $4,868.35 Date: 10/31/2017
Perf: $4,723.34 Date: 9/30/2017
Perf: $4,615.79 Date: 8/31/2017
Perf: $4,522.62 Date: 7/31/2017
Perf: $4,508.65 Date: 6/30/2017
Perf: $4,417.64 Date: 5/31/2017
Perf: $4,390.42 Date: 4/30/2017
Perf: $4,329.38 Date: 3/31/2017
Perf: $4,285.24 Date: 2/28/2017
Perf: $4,280.11 Date: 1/31/2017
Perf: $4,116.67 Date: 12/31/2016
Perf: $4,039.92 Date: 11/30/2016
Perf: $3,961.48 Date: 10/31/2016
Perf: $3,820.13 Date: 9/30/2016
Perf: $3,890.95 Date: 8/31/2016
Perf: $3,890.17 Date: 7/31/2016
Perf: $3,884.73 Date: 6/30/2016
Perf: $3,746.49 Date: 5/31/2016
Perf: $3,736.77 Date: 4/30/2016
Perf: $3,670.70 Date: 3/31/2016
Perf: $3,656.44 Date: 2/29/2016
Perf: $3,424.27 Date: 1/31/2016
Perf: $3,428.73 Date: 12/31/2015
Perf: $3,607.67 Date: 11/30/2015
Perf: $3,665.59 Date: 10/31/2015
Perf: $3,654.62 Date: 9/30/2015
Perf: $3,370.18 Date: 8/31/2015
Perf: $3,455.53 Date: 7/31/2015
Perf: $3,677.27 Date: 6/30/2015
Perf: $3,601.64 Date: 5/31/2015
Perf: $3,672.89 Date: 4/30/2015
Perf: $3,626.11 Date: 3/31/2015
Perf: $3,591.63 Date: 2/28/2015
Perf: $3,649.29 Date: 1/31/2015
Perf: $3,450.87 Date: 12/31/2014
Perf: $3,557.60 Date: 11/30/2014
Perf: $3,566.51 Date: 10/31/2014
Perf: $3,473.09 Date: 9/30/2014
Perf: $3,390.36 Date: 8/31/2014
Perf: $3,438.50 Date: 7/31/2014
Perf: $3,306.25 Date: 6/30/2014
Perf: $3,352.51 Date: 5/31/2014
Perf: $3,284.52 Date: 4/30/2014
Perf: $3,209.11 Date: 3/31/2014
Perf: $3,185.54 Date: 2/28/2014
Perf: $3,159.00 Date: 1/31/2014
Perf: $3,020.94 Date: 12/31/2013
Perf: $3,129.22 Date: 11/30/2013
Perf: $3,052.00 Date: 10/31/2013
Perf: $2,961.67 Date: 9/30/2013
Perf: $2,831.42 Date: 8/31/2013
Perf: $2,745.22 Date: 7/31/2013
Perf: $2,827.21 Date: 6/30/2013
Perf: $2,690.28 Date: 5/31/2013
Perf: $2,726.82 Date: 4/30/2013
Perf: $2,664.47 Date: 3/31/2013
Perf: $2,614.02 Date: 2/28/2013
Perf: $2,519.54 Date: 1/31/2013
Perf: $2,485.73 Date: 12/31/2012
Perf: $2,363.31 Date: 11/30/2012
Perf: $2,342.00 Date: 10/31/2012
Perf: $2,328.49 Date: 9/30/2012
Perf: $2,372.38 Date: 8/31/2012
Perf: $2,312.71 Date: 7/31/2012
Perf: $2,261.82 Date: 6/30/2012
Perf: $2,230.81 Date: 5/31/2012
Perf: $2,142.54 Date: 4/30/2012
Perf: $2,279.54 Date: 3/31/2012
Perf: $2,293.99 Date: 2/29/2012
Perf: $2,220.93 Date: 1/31/2012
Perf: $2,128.95 Date: 12/31/2011
Perf: $2,037.67 Date: 11/30/2011
Perf: $2,017.09 Date: 10/31/2011
Perf: $2,021.54 Date: 9/30/2011
Perf: $1,822.36 Date: 8/31/2011
Perf: $1,960.16 Date: 7/31/2011
Perf: $2,072.70 Date: 6/30/2011
Perf: $2,115.65 Date: 5/31/2011
Perf: $2,151.58 Date: 4/30/2011
Perf: $2,176.17 Date: 3/31/2011
Perf: $2,113.61 Date: 2/28/2011
Perf: $2,112.77 Date: 1/31/2011
Perf: $2,042.70 Date: 12/31/2010
Perf: $1,995.41 Date: 11/30/2010
Perf: $1,870.46 Date: 10/31/2010
Perf: $1,870.28 Date: 9/30/2010
Perf: $1,801.63 Date: 8/31/2010
Perf: $1,654.09 Date: 7/31/2010
Perf: $1,732.21 Date: 6/30/2010
Perf: $1,618.74 Date: 5/31/2010
Perf: $1,708.07 Date: 4/30/2010
Perf: $1,856.40 Date: 3/31/2010
Perf: $1,827.52 Date: 2/28/2010
Perf: $1,723.59 Date: 1/31/2010
Perf: $1,671.76 Date: 12/31/2009
Perf: $1,734.20 Date: 11/30/2009
Perf: $1,701.36 Date: 10/31/2009
Perf: $1,605.06 Date: 9/30/2009
Perf: $1,635.48 Date: 8/31/2009
Perf: $1,576.67 Date: 7/31/2009
Perf: $1,521.73 Date: 6/30/2009
Perf: $1,414.77 Date: 5/31/2009
Perf: $1,411.95 Date: 4/30/2009
Perf: $1,337.20 Date: 3/31/2009
Perf: $1,220.41 Date: 2/28/2009
Perf: $1,122.11 Date: 1/31/2009
Perf: $1,255.86 Date: 12/31/2008
Perf: $1,371.48 Date: 11/30/2008
Perf: $1,357.09 Date: 10/31/2008
Perf: $1,462.07 Date: 9/30/2008
Perf: $1,757.08 Date: 8/31/2008
Perf: $1,928.95 Date: 7/31/2008
Perf: $1,901.38 Date: 6/30/2008
Perf: $1,917.49 Date: 5/31/2008
Perf: $2,094.01 Date: 4/30/2008
Perf: $2,067.14 Date: 3/31/2008
Perf: $1,971.14 Date: 2/29/2008
Perf: $1,979.66 Date: 1/31/2008
Perf: $2,046.16 Date: 12/31/2007
Perf: $2,176.76 Date: 11/30/2007
Perf: $2,191.89 Date: 10/31/2007
Perf: $2,287.50 Date: 9/30/2007
Perf: $2,251.70 Date: 8/31/2007
Perf: $2,170.52 Date: 7/31/2007
Perf: $2,138.45 Date: 6/30/2007
Perf: $2,206.86 Date: 5/31/2007
Perf: $2,244.11 Date: 4/30/2007
Perf: $2,168.43 Date: 3/31/2007
Perf: $2,076.45 Date: 2/28/2007
Perf: $2,053.45 Date: 1/31/2007
Perf: $2,094.50 Date: 12/31/2006
Perf: $2,063.35 Date: 11/30/2006
Perf: $2,034.86 Date: 10/31/2006
Perf: $1,996.92 Date: 9/30/2006
Perf: $1,933.87 Date: 8/31/2006
Perf: $1,885.23 Date: 7/31/2006
Perf: $1,841.41 Date: 6/30/2006
Perf: $1,830.06 Date: 5/31/2006
Perf: $1,827.50 Date: 4/30/2006
Perf: $1,881.70 Date: 3/31/2006
Perf: $1,856.81 Date: 2/28/2006
Perf: $1,834.07 Date: 1/31/2006
Perf: $1,829.13 Date: 12/31/2005
Perf: $1,781.91 Date: 11/30/2005
Perf: $1,781.38 Date: 10/31/2005
Perf: $1,716.49 Date: 9/30/2005
Perf: $1,745.65 Date: 8/31/2005
Perf: $1,731.62 Date: 7/31/2005
Perf: $1,747.52 Date: 6/30/2005
Perf: $1,684.85 Date: 5/31/2005
Perf: $1,682.49 Date: 4/30/2005
Perf: $1,630.64 Date: 3/31/2005
Perf: $1,662.22 Date: 2/28/2005
Perf: $1,692.17 Date: 1/31/2005
Perf: $1,657.37 Date: 12/31/2004
Perf: $1,698.82 Date: 11/30/2004
Perf: $1,642.96 Date: 10/31/2004
Perf: $1,579.01 Date: 9/30/2004
Perf: $1,555.21 Date: 8/31/2004
Perf: $1,538.59 Date: 7/31/2004
Perf: $1,532.47 Date: 6/30/2004
Perf: $1,584.93 Date: 5/31/2004
Perf: $1,554.76 Date: 4/30/2004
Perf: $1,533.75 Date: 3/31/2004
Perf: $1,558.22 Date: 2/29/2004
Perf: $1,582.11 Date: 1/31/2004
Perf: $1,560.42 Date: 12/31/2003
Perf: $1,532.22 Date: 11/30/2003
Perf: $1,455.93 Date: 10/31/2003
Perf: $1,443.23 Date: 9/30/2003
Perf: $1,365.92 Date: 8/31/2003
Perf: $1,380.55 Date: 7/31/2003
Perf: $1,354.15 Date: 6/30/2003
Perf: $1,330.73 Date: 5/31/2003
Perf: $1,313.91 Date: 4/30/2003
Perf: $1,248.13 Date: 3/31/2003
Perf: $1,153.12 Date: 2/28/2003
Perf: $1,142.04 Date: 1/31/2003
Perf: $1,159.43 Date: 12/31/2002
Perf: $1,190.62 Date: 11/30/2002
Perf: $1,264.87 Date: 10/31/2002
Perf: $1,194.51 Date: 9/30/2002
Perf: $1,097.90 Date: 8/31/2002
Perf: $1,231.80 Date: 7/31/2002
Perf: $1,223.72 Date: 6/30/2002
Perf: $1,327.24 Date: 5/31/2002
Perf: $1,428.99 Date: 4/30/2002
Perf: $1,439.64 Date: 3/31/2002
Perf: $1,532.51 Date: 2/28/2002
Perf: $1,476.98 Date: 1/31/2002
Perf: $1,506.04 Date: 12/31/2001
Perf: $1,528.36 Date: 11/30/2001
Perf: $1,515.03 Date: 10/31/2001
Perf: $1,407.10 Date: 9/30/2001
Perf: $1,380.73 Date: 8/31/2001
Perf: $1,502.10 Date: 7/31/2001
Perf: $1,602.41 Date: 6/30/2001
Perf: $1,618.27 Date: 5/31/2001
Perf: $1,658.57 Date: 4/30/2001
Perf: $1,647.53 Date: 3/31/2001
Perf: $1,528.75 Date: 2/28/2001
Perf: $1,632.23 Date: 1/31/2001
Perf: $1,796.03 Date: 12/31/2000
Perf: $1,734.46 Date: 11/30/2000
Perf: $1,726.00 Date: 10/31/2000
Perf: $1,873.64 Date: 9/30/2000
Perf: $1,881.55 Date: 8/31/2000
Perf: $1,986.43 Date: 7/31/2000
Perf: $1,870.29 Date: 6/30/2000
Perf: $1,899.92 Date: 5/31/2000
Perf: $1,854.13 Date: 4/30/2000
Perf: $1,892.93 Date: 3/31/2000
Perf: $1,951.68 Date: 2/29/2000
Perf: $1,777.81 Date: 1/31/2000
Perf: $1,812.06 Date: 12/31/1999
Perf: $1,907.83 Date: 11/30/1999
Perf: $1,801.71 Date: 10/31/1999
Perf: $1,765.86 Date: 9/30/1999
Perf: $1,660.74 Date: 8/31/1999
Perf: $1,707.52 Date: 7/31/1999
Perf: $1,715.93 Date: 6/30/1999
Perf: $1,771.19 Date: 5/31/1999
Perf: $1,678.06 Date: 4/30/1999
Perf: $1,718.62 Date: 3/31/1999
Perf: $1,654.59 Date: 2/28/1999
Perf: $1,590.95 Date: 1/31/1999
Perf: $1,642.02 Date: 12/31/1998
Perf: $1,576.13 Date: 11/30/1998
Perf: $1,490.29 Date: 10/31/1998
Perf: $1,405.14 Date: 9/30/1998
Perf: $1,299.49 Date: 8/31/1998
Perf: $1,221.21 Date: 7/31/1998
Perf: $1,427.65 Date: 6/30/1998
Perf: $1,442.95 Date: 5/31/1998
Perf: $1,386.65 Date: 4/30/1998
Perf: $1,410.92 Date: 3/31/1998
Perf: $1,396.81 Date: 2/28/1998
Perf: $1,328.77 Date: 1/31/1998
Perf: $1,239.41 Date: 12/31/1997
Perf: $1,225.81 Date: 11/30/1997
Perf: $1,205.08 Date: 10/31/1997
Perf: $1,151.75 Date: 9/30/1997
Perf: $1,191.55 Date: 8/31/1997
Perf: $1,129.65 Date: 7/31/1997
Perf: $1,196.66 Date: 6/30/1997
Perf: $1,108.43 Date: 5/31/1997
Perf: $1,060.90 Date: 4/30/1997
Perf: $1,000.00 Date: 4/30/2019
Perf: $6,865.23 Date: 3/31/2019
Perf: $6,607.54 Date: 2/28/2019
Perf: $6,121.49 Date: 1/31/2019
Perf: $6,222.93 Date: 12/31/2018
Perf: $6,613.80 Date: 11/30/2018
Perf: $6,541.19 Date: 10/31/2018
Perf: $6,423.64 Date: 9/30/2018
Perf: $7,097.16 Date: 8/31/2018
Perf: $6,926.76 Date: 7/31/2018
Perf: $6,861.58 Date: 6/30/2018
Perf: $6,923.89 Date: 5/31/2018
Perf: $7,070.25 Date: 4/30/2018
Perf: $6,732.29 Date: 3/31/2018
Perf: $6,710.81 Date: 2/28/2018
Perf: $6,535.66 Date: 1/31/2018
Perf: $7,179.67 Date: 12/31/2017
Perf: $7,038.21 Date: 11/30/2017
Perf: $6,829.23 Date: 10/31/2017
Perf: $6,940.28 Date: 9/30/2017
Perf: $6,295.61 Date: 8/31/2017
Perf: $6,622.07 Date: 7/31/2017
Perf: $6,175.00 Date: 6/30/2017
Perf: $6,092.75 Date: 5/31/2017
Perf: $6,554.87 Date: 4/30/2017
Perf: $6,602.41 Date: 3/31/2017
Perf: $6,579.38 Date: 2/28/2017
Perf: $6,877.88 Date: 1/31/2017
Perf: $6,430.33 Date: 12/31/2016
Perf: $6,533.56 Date: 11/30/2016
Perf: $6,477.85 Date: 10/31/2016
Perf: $6,262.42 Date: 9/30/2016
Perf: $6,164.41 Date: 8/31/2016
Perf: $6,303.72 Date: 7/31/2016
Perf: $6,382.22 Date: 6/30/2016
Perf: $6,320.91 Date: 5/31/2016
Perf: $6,223.20 Date: 4/30/2016
Perf: $6,315.41 Date: 3/31/2016
Perf: $6,860.85 Date: 2/29/2016
Perf: $7,073.04 Date: 1/31/2016
Perf: $6,879.05 Date: 12/31/2015
Perf: $6,685.18 Date: 11/30/2015
Perf: $6,901.19 Date: 10/31/2015
Perf: $6,245.98 Date: 9/30/2015
Perf: $6,294.45 Date: 8/31/2015
Perf: $6,043.64 Date: 7/31/2015
Perf: $6,337.04 Date: 6/30/2015
Perf: $5,956.99 Date: 5/31/2015
Perf: $6,564.90 Date: 4/30/2015
Perf: $6,558.34 Date: 3/31/2015
Perf: $6,868.09 Date: 2/28/2015
Perf: $6,786.65 Date: 1/31/2015
Perf: $7,005.21 Date: 12/31/2014
Perf: $6,847.05 Date: 11/30/2014
Perf: $6,977.53 Date: 10/31/2014
Perf: $6,361.71 Date: 9/30/2014
Perf: $6,075.55 Date: 8/31/2014
Perf: $5,657.99 Date: 7/31/2014
Perf: $5,269.62 Date: 6/30/2014
Perf: $5,362.94 Date: 5/31/2014
Perf: $5,333.60 Date: 4/30/2014
Perf: $5,045.03 Date: 3/31/2014
Perf: $5,012.45 Date: 2/28/2014
Perf: $5,265.73 Date: 1/31/2014
Perf: $5,370.45 Date: 12/31/2013
Perf: $5,669.82 Date: 11/30/2013
Perf: $5,810.43 Date: 10/31/2013
Perf: $5,649.42 Date: 9/30/2013
Perf: $5,381.94 Date: 8/31/2013
Perf: $5,249.14 Date: 7/31/2013
Perf: $5,612.85 Date: 6/30/2013
Perf: $5,555.08 Date: 5/31/2013
Perf: $5,773.91 Date: 4/30/2013
Perf: $5,921.35 Date: 3/31/2013
Perf: $5,473.61 Date: 2/28/2013
Perf: $5,341.15 Date: 1/31/2013
Perf: $5,185.08 Date: 12/31/2012
Perf: $5,174.21 Date: 11/30/2012
Perf: $5,076.24 Date: 10/31/2012
Perf: $5,098.16 Date: 9/30/2012
Perf: $5,322.78 Date: 8/31/2012
Perf: $5,510.70 Date: 7/31/2012
Perf: $5,581.02 Date: 6/30/2012
Perf: $5,409.54 Date: 5/31/2012
Perf: $5,848.15 Date: 4/30/2012
Perf: $5,859.87 Date: 3/31/2012
Perf: $5,874.55 Date: 2/29/2012
Perf: $5,710.66 Date: 1/31/2012
Perf: $5,478.90 Date: 12/31/2011
Perf: $5,425.73 Date: 11/30/2011
Perf: $5,302.70 Date: 10/31/2011
Perf: $5,230.52 Date: 9/30/2011
Perf: $5,746.56 Date: 8/31/2011
Perf: $5,320.89 Date: 7/31/2011
Perf: $5,805.03 Date: 6/30/2011
Perf: $5,775.00 Date: 5/31/2011
Perf: $6,209.68 Date: 4/30/2011
Perf: $6,860.01 Date: 3/31/2011
Perf: $6,610.15 Date: 2/28/2011
Perf: $7,111.51 Date: 1/31/2011
Perf: $6,695.70 Date: 12/31/2010
Perf: $6,469.90 Date: 11/30/2010
Perf: $5,932.43 Date: 10/31/2010
Perf: $6,191.87 Date: 9/30/2010
Perf: $5,946.86 Date: 8/31/2010
Perf: $5,707.70 Date: 7/31/2010
Perf: $5,559.81 Date: 6/30/2010
Perf: $5,845.05 Date: 5/31/2010
Perf: $5,834.55 Date: 4/30/2010
Perf: $6,332.95 Date: 3/31/2010
Perf: $6,308.98 Date: 2/28/2010
Perf: $5,945.13 Date: 1/31/2010
Perf: $6,026.49 Date: 12/31/2009
Perf: $6,428.26 Date: 11/30/2009
Perf: $6,421.84 Date: 10/31/2009
Perf: $6,029.89 Date: 9/30/2009
Perf: $6,249.24 Date: 8/31/2009
Perf: $6,154.46 Date: 7/31/2009
Perf: $5,994.41 Date: 6/30/2009
Perf: $5,624.86 Date: 5/31/2009
Perf: $5,637.83 Date: 4/30/2009
Perf: $5,537.05 Date: 3/31/2009
Perf: $5,691.87 Date: 2/28/2009
Perf: $5,906.88 Date: 1/31/2009
Perf: $5,785.39 Date: 12/31/2008
Perf: $5,892.63 Date: 11/30/2008
Perf: $5,604.56 Date: 10/31/2008
Perf: $5,259.04 Date: 9/30/2008
Perf: $4,262.82 Date: 8/31/2008
Perf: $3,644.99 Date: 7/31/2008
Perf: $3,576.33 Date: 6/30/2008
Perf: $3,949.56 Date: 5/31/2008
Perf: $3,703.99 Date: 4/30/2008
Perf: $3,447.49 Date: 3/31/2008
Perf: $3,645.83 Date: 2/29/2008
Perf: $3,982.33 Date: 1/31/2008
Perf: $3,582.20 Date: 12/31/2007
Perf: $3,354.75 Date: 11/30/2007
Perf: $3,468.88 Date: 10/31/2007
Perf: $3,351.25 Date: 9/30/2007
Perf: $3,373.85 Date: 8/31/2007
Perf: $3,277.81 Date: 7/31/2007
Perf: $3,461.62 Date: 6/30/2007
Perf: $3,666.97 Date: 5/31/2007
Perf: $3,401.96 Date: 4/30/2007
Perf: $3,290.42 Date: 3/31/2007
Perf: $3,188.08 Date: 2/28/2007
Perf: $3,185.53 Date: 1/31/2007
Perf: $3,301.41 Date: 12/31/2006
Perf: $3,195.02 Date: 11/30/2006
Perf: $3,090.56 Date: 10/31/2006
Perf: $3,300.11 Date: 9/30/2006
Perf: $3,454.17 Date: 8/31/2006
Perf: $3,423.02 Date: 7/31/2006
Perf: $3,465.30 Date: 6/30/2006
Perf: $3,703.82 Date: 5/31/2006
Perf: $3,751.85 Date: 4/30/2006
Perf: $3,834.28 Date: 3/31/2006
Perf: $3,745.15 Date: 2/28/2006
Perf: $3,731.34 Date: 1/31/2006
Perf: $3,757.27 Date: 12/31/2005
Perf: $3,776.53 Date: 11/30/2005
Perf: $3,884.52 Date: 10/31/2005
Perf: $3,601.78 Date: 9/30/2005
Perf: $3,567.88 Date: 8/31/2005
Perf: $3,527.32 Date: 7/31/2005
Perf: $3,463.93 Date: 6/30/2005
Perf: $3,486.59 Date: 5/31/2005
Perf: $3,573.06 Date: 4/30/2005
Perf: $3,722.71 Date: 3/31/2005
Perf: $3,941.88 Date: 2/28/2005
Perf: $3,931.27 Date: 1/31/2005
Perf: $4,119.53 Date: 12/31/2004
Perf: $4,218.24 Date: 11/30/2004
Perf: $4,233.48 Date: 10/31/2004
Perf: $3,949.14 Date: 9/30/2004
Perf: $3,994.27 Date: 8/31/2004
Perf: $3,705.95 Date: 7/31/2004
Perf: $3,936.22 Date: 6/30/2004
Perf: $3,954.01 Date: 5/31/2004
Perf: $4,002.44 Date: 4/30/2004
Perf: $4,260.64 Date: 3/31/2004
Perf: $4,579.85 Date: 2/29/2004
Perf: $4,475.57 Date: 1/31/2004
Perf: $4,028.78 Date: 12/31/2003
Perf: $3,932.44 Date: 11/30/2003
Perf: $3,687.58 Date: 10/31/2003
Perf: $3,725.96 Date: 9/30/2003
Perf: $3,274.13 Date: 8/31/2003
Perf: $3,143.06 Date: 7/31/2003
Perf: $3,170.65 Date: 6/30/2003
Perf: $3,316.92 Date: 5/31/2003
Perf: $3,541.83 Date: 4/30/2003
Perf: $3,236.91 Date: 3/31/2003
Perf: $3,375.30 Date: 2/28/2003
Perf: $3,603.01 Date: 1/31/2003
Perf: $3,369.19 Date: 12/31/2002
Perf: $3,126.57 Date: 11/30/2002
Perf: $2,837.43 Date: 10/31/2002
Perf: $3,017.58 Date: 9/30/2002
Perf: $3,331.40 Date: 8/31/2002
Perf: $3,192.52 Date: 7/31/2002
Perf: $3,077.13 Date: 6/30/2002
Perf: $2,935.63 Date: 5/31/2002
Perf: $2,630.03 Date: 4/30/2002
Perf: $2,772.24 Date: 3/31/2002
Perf: $2,878.16 Date: 2/28/2002
Perf: $2,938.40 Date: 1/31/2002
Perf: $2,977.70 Date: 12/31/2001
Perf: $2,962.30 Date: 11/30/2001
Perf: $2,826.08 Date: 10/31/2001
Perf: $3,117.23 Date: 9/30/2001
Perf: $3,002.53 Date: 8/31/2001
Perf: $2,826.44 Date: 7/31/2001
Perf: $2,770.21 Date: 6/30/2001
Perf: $2,875.45 Date: 5/31/2001
Perf: $2,739.31 Date: 4/30/2001
Perf: $2,674.84 Date: 3/31/2001
Perf: $2,791.82 Date: 2/28/2001
Perf: $2,417.58 Date: 1/31/2001
Perf: $2,303.55 Date: 12/31/2000
Perf: $2,455.81 Date: 11/30/2000
Perf: $2,458.76 Date: 10/31/2000
Perf: $2,312.39 Date: 9/30/2000
Perf: $2,239.39 Date: 8/31/2000
Perf: $2,278.11 Date: 7/31/2000
Perf: $2,171.29 Date: 6/30/2000
Perf: $2,139.41 Date: 5/31/2000
Perf: $2,238.11 Date: 4/30/2000
Perf: $2,212.88 Date: 3/31/2000
Perf: $1,977.38 Date: 2/29/2000
Perf: $2,009.33 Date: 1/31/2000
Perf: $2,002.32 Date: 12/31/1999
Perf: $2,120.65 Date: 11/30/1999
Perf: $2,021.98 Date: 10/31/1999
Perf: $1,922.03 Date: 9/30/1999
Perf: $1,946.16 Date: 8/31/1999
Perf: $2,018.63 Date: 7/31/1999
Perf: $1,859.81 Date: 6/30/1999
Perf: $1,946.01 Date: 5/31/1999
Perf: $1,953.05 Date: 4/30/1999
Perf: $2,068.03 Date: 3/31/1999
Perf: $1,979.73 Date: 2/28/1999
Perf: $2,037.18 Date: 1/31/1999
Perf: $1,920.96 Date: 12/31/1998
Perf: $1,919.81 Date: 11/30/1998
Perf: $1,873.72 Date: 10/31/1998
Perf: $1,797.33 Date: 9/30/1998
Perf: $1,847.96 Date: 8/31/1998
Perf: $1,949.74 Date: 7/31/1998
Perf: $1,633.77 Date: 6/30/1998
Perf: $1,656.63 Date: 5/31/1998
Perf: $1,620.97 Date: 4/30/1998
Perf: $1,503.96 Date: 3/31/1998
Perf: $1,590.82 Date: 2/28/1998
Perf: $1,492.33 Date: 1/31/1998
Perf: $1,406.40 Date: 12/31/1997
Perf: $1,304.15 Date: 11/30/1997
Perf: $1,258.35 Date: 10/31/1997
Perf: $1,072.39 Date: 9/30/1997
Perf: $1,183.00 Date: 8/31/1997
Perf: $1,208.13 Date: 7/31/1997
Perf: $1,234.30 Date: 6/30/1997
Perf: $1,097.25 Date: 5/31/1997
Perf: $954.30 Date: 4/30/1997
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 04/97 - 04/19
Date: 4/30/2019
Return: 3.90 % Date: 3/31/2019
Return: 7.94 % Date: 2/28/2019
Return: -1.63 % Date: 1/31/2019
Return: -5.91 % Date: 12/31/2018
Return: 1.11 % Date: 11/30/2018
Return: 1.83 % Date: 10/31/2018
Return: -9.49 % Date: 9/30/2018
Return: 2.46 % Date: 8/31/2018
Return: 0.95 % Date: 7/31/2018
Return: -0.90 % Date: 6/30/2018
Return: -2.07 % Date: 5/31/2018
Return: 5.02 % Date: 4/30/2018
Return: 0.32 % Date: 3/31/2018
Return: 2.68 % Date: 2/28/2018
Return: -8.97 % Date: 1/31/2018
Return: 2.01 % Date: 12/31/2017
Return: 3.06 % Date: 11/30/2017
Return: -1.60 % Date: 10/31/2017
Return: 10.24 % Date: 9/30/2017
Return: -4.93 % Date: 8/31/2017
Return: 7.24 % Date: 7/31/2017
Return: 1.35 % Date: 6/30/2017
Return: -7.05 % Date: 5/31/2017
Return: -0.72 % Date: 4/30/2017
Return: 0.35 % Date: 3/31/2017
Return: -4.34 % Date: 2/28/2017
Return: 6.96 % Date: 1/31/2017
Return: -1.58 % Date: 12/31/2016
Return: 0.86 % Date: 11/30/2016
Return: 3.44 % Date: 10/31/2016
Return: 1.59 % Date: 9/30/2016
Return: -2.21 % Date: 8/31/2016
Return: -1.23 % Date: 7/31/2016
Return: 0.97 % Date: 6/30/2016
Return: 1.57 % Date: 5/31/2016
Return: -1.46 % Date: 4/30/2016
Return: -7.95 % Date: 3/31/2016
Return: -3.00 % Date: 2/29/2016
Return: 2.82 % Date: 1/31/2016
Return: 2.90 % Date: 12/31/2015
Return: -3.13 % Date: 11/30/2015
Return: 10.49 % Date: 10/31/2015
Return: -0.77 % Date: 9/30/2015
Return: 4.15 % Date: 8/31/2015
Return: -4.63 % Date: 7/31/2015
Return: 6.38 % Date: 6/30/2015
Return: -9.26 % Date: 5/31/2015
Return: 0.10 % Date: 4/30/2015
Return: -4.51 % Date: 3/31/2015
Return: 1.20 % Date: 2/28/2015
Return: -3.12 % Date: 1/31/2015
Return: 2.31 % Date: 12/31/2014
Return: -1.87 % Date: 11/30/2014
Return: 9.68 % Date: 10/31/2014
Return: 4.71 % Date: 9/30/2014
Return: 7.38 % Date: 8/31/2014
Return: 7.37 % Date: 7/31/2014
Return: -1.74 % Date: 6/30/2014
Return: 0.55 % Date: 5/31/2014
Return: 5.72 % Date: 4/30/2014
Return: 0.65 % Date: 3/31/2014
Return: -4.81 % Date: 2/28/2014
Return: -1.95 % Date: 1/31/2014
Return: -5.28 % Date: 12/31/2013
Return: -2.42 % Date: 11/30/2013
Return: 2.85 % Date: 10/31/2013
Return: 4.97 % Date: 9/30/2013
Return: 2.53 % Date: 8/31/2013
Return: -6.48 % Date: 7/31/2013
Return: 1.04 % Date: 6/30/2013
Return: -3.79 % Date: 5/31/2013
Return: -2.49 % Date: 4/30/2013
Return: 8.18 % Date: 3/31/2013
Return: 2.48 % Date: 2/28/2013
Return: 3.01 % Date: 1/31/2013
Return: 0.21 % Date: 12/31/2012
Return: 1.93 % Date: 11/30/2012
Return: -0.43 % Date: 10/31/2012
Return: -4.22 % Date: 9/30/2012
Return: -3.41 % Date: 8/31/2012
Return: -1.26 % Date: 7/31/2012
Return: 3.17 % Date: 6/30/2012
Return: -7.50 % Date: 5/31/2012
Return: -0.20 % Date: 4/30/2012
Return: -0.25 % Date: 3/31/2012
Return: 2.87 % Date: 2/29/2012
Return: 4.23 % Date: 1/31/2012
Return: 0.98 % Date: 12/31/2011
Return: 2.32 % Date: 11/30/2011
Return: 1.38 % Date: 10/31/2011
Return: -8.98 % Date: 9/30/2011
Return: 8.00 % Date: 8/31/2011
Return: -8.34 % Date: 7/31/2011
Return: 0.52 % Date: 6/30/2011
Return: -7.00 % Date: 5/31/2011
Return: -9.48 % Date: 4/30/2011
Return: 3.78 % Date: 3/31/2011
Return: -7.05 % Date: 2/28/2011
Return: 6.21 % Date: 1/31/2011
Return: 3.49 % Date: 12/31/2010
Return: 9.06 % Date: 11/30/2010
Return: -4.19 % Date: 10/31/2010
Return: 4.12 % Date: 9/30/2010
Return: 4.19 % Date: 8/31/2010
Return: 2.66 % Date: 7/31/2010
Return: -4.88 % Date: 6/30/2010
Return: 0.18 % Date: 5/31/2010
Return: -7.87 % Date: 4/30/2010
Return: 0.38 % Date: 3/31/2010
Return: 6.12 % Date: 2/28/2010
Return: -1.35 % Date: 1/31/2010
Return: -6.25 % Date: 12/31/2009
Return: 0.10 % Date: 11/30/2009
Return: 6.50 % Date: 10/31/2009
Return: -3.51 % Date: 9/30/2009
Return: 1.54 % Date: 8/31/2009
Return: 2.67 % Date: 7/31/2009
Return: 6.57 % Date: 6/30/2009
Return: -0.23 % Date: 5/31/2009
Return: 1.82 % Date: 4/30/2009
Return: -2.72 % Date: 3/31/2009
Return: -3.64 % Date: 2/28/2009
Return: 2.10 % Date: 1/31/2009
Return: -1.82 % Date: 12/31/2008
Return: 5.14 % Date: 11/30/2008
Return: 6.57 % Date: 10/31/2008
Return: 23.37 % Date: 9/30/2008
Return: 16.95 % Date: 8/31/2008
Return: 1.92 % Date: 7/31/2008
Return: -9.45 % Date: 6/30/2008
Return: 6.63 % Date: 5/31/2008
Return: 7.44 % Date: 4/30/2008
Return: -5.44 % Date: 3/31/2008
Return: -8.45 % Date: 2/29/2008
Return: 11.17 % Date: 1/31/2008
Return: 6.78 % Date: 12/31/2007
Return: -3.29 % Date: 11/30/2007
Return: 3.51 % Date: 10/31/2007
Return: -0.67 % Date: 9/30/2007
Return: 2.93 % Date: 8/31/2007
Return: -5.31 % Date: 7/31/2007
Return: -5.60 % Date: 6/30/2007
Return: 7.79 % Date: 5/31/2007
Return: 3.39 % Date: 4/30/2007
Return: 3.21 % Date: 3/31/2007
Return: 0.08 % Date: 2/28/2007
Return: -3.51 % Date: 1/31/2007
Return: 3.33 % Date: 12/31/2006
Return: 3.38 % Date: 11/30/2006
Return: -6.35 % Date: 10/31/2006
Return: -4.46 % Date: 9/30/2006
Return: 0.91 % Date: 8/31/2006
Return: -1.22 % Date: 7/31/2006
Return: -6.44 % Date: 6/30/2006
Return: -1.28 % Date: 5/31/2006
Return: -2.15 % Date: 4/30/2006
Return: 2.38 % Date: 3/31/2006
Return: 0.37 % Date: 2/28/2006
Return: -0.69 % Date: 1/31/2006
Return: -0.51 % Date: 12/31/2005
Return: -2.78 % Date: 11/30/2005
Return: 7.85 % Date: 10/31/2005
Return: 0.95 % Date: 9/30/2005
Return: 1.15 % Date: 8/31/2005
Return: 1.83 % Date: 7/31/2005
Return: -0.65 % Date: 6/30/2005
Return: -2.42 % Date: 5/31/2005
Return: -4.02 % Date: 4/30/2005
Return: -5.56 % Date: 3/31/2005
Return: 0.27 % Date: 2/28/2005
Return: -4.57 % Date: 1/31/2005
Return: -2.34 % Date: 12/31/2004
Return: -0.36 % Date: 11/30/2004
Return: 7.20 % Date: 10/31/2004
Return: -1.13 % Date: 9/30/2004
Return: 7.78 % Date: 8/31/2004
Return: -5.85 % Date: 7/31/2004
Return: -0.45 % Date: 6/30/2004
Return: -1.21 % Date: 5/31/2004
Return: -6.06 % Date: 4/30/2004
Return: -6.97 % Date: 3/31/2004
Return: 2.33 % Date: 2/29/2004
Return: 11.09 % Date: 1/31/2004
Return: 2.45 % Date: 12/31/2003
Return: 6.64 % Date: 11/30/2003
Return: -1.03 % Date: 10/31/2003
Return: 13.80 % Date: 9/30/2003
Return: 4.17 % Date: 8/31/2003
Return: -0.87 % Date: 7/31/2003
Return: -4.41 % Date: 6/30/2003
Return: -6.35 % Date: 5/31/2003
Return: 9.42 % Date: 4/30/2003
Return: -4.10 % Date: 3/31/2003
Return: -6.32 % Date: 2/28/2003
Return: 6.94 % Date: 1/31/2003
Return: 7.76 % Date: 12/31/2002
Return: 10.19 % Date: 11/30/2002
Return: -5.97 % Date: 10/31/2002
Return: -9.42 % Date: 9/30/2002
Return: 4.35 % Date: 8/31/2002
Return: 3.75 % Date: 7/31/2002
Return: 4.82 % Date: 6/30/2002
Return: 11.62 % Date: 5/31/2002
Return: -5.13 % Date: 4/30/2002
Return: -3.68 % Date: 3/31/2002
Return: -2.05 % Date: 2/28/2002
Return: -1.32 % Date: 1/31/2002
Return: 0.52 % Date: 12/31/2001
Return: 4.82 % Date: 11/30/2001
Return: -9.34 % Date: 10/31/2001
Return: 3.82 % Date: 9/30/2001
Return: 6.23 % Date: 8/31/2001
Return: 2.03 % Date: 7/31/2001
Return: -3.66 % Date: 6/30/2001
Return: 4.97 % Date: 5/31/2001
Return: 2.41 % Date: 4/30/2001
Return: -4.19 % Date: 3/31/2001
Return: 15.48 % Date: 2/28/2001
Return: 4.95 % Date: 1/31/2001
Return: -6.20 % Date: 12/31/2000
Return: -0.12 % Date: 11/30/2000
Return: 6.33 % Date: 10/31/2000
Return: 3.26 % Date: 9/30/2000
Return: -1.70 % Date: 8/31/2000
Return: 4.92 % Date: 7/31/2000
Return: 1.49 % Date: 6/30/2000
Return: -4.41 % Date: 5/31/2000
Return: 1.14 % Date: 4/30/2000
Return: 11.91 % Date: 3/31/2000
Return: -1.59 % Date: 2/29/2000
Return: 0.35 % Date: 1/31/2000
Return: -5.58 % Date: 12/31/1999
Return: 4.88 % Date: 11/30/1999
Return: 5.20 % Date: 10/31/1999
Return: -1.24 % Date: 9/30/1999
Return: -3.59 % Date: 8/31/1999
Return: 8.54 % Date: 7/31/1999
Return: -4.43 % Date: 6/30/1999
Return: -0.36 % Date: 5/31/1999
Return: -5.56 % Date: 4/30/1999
Return: 4.46 % Date: 3/31/1999
Return: -2.82 % Date: 2/28/1999
Return: 6.05 % Date: 1/31/1999
Return: 0.06 % Date: 12/31/1998
Return: 2.46 % Date: 11/30/1998
Return: 4.25 % Date: 10/31/1998
Return: -2.74 % Date: 9/30/1998
Return: -5.22 % Date: 8/31/1998
Return: 19.34 % Date: 7/31/1998
Return: -1.38 % Date: 6/30/1998
Return: 2.20 % Date: 5/31/1998
Return: 7.78 % Date: 4/30/1998
Return: -5.46 % Date: 3/31/1998
Return: 6.60 % Date: 2/28/1998
Return: 6.11 % Date: 1/31/1998
Return: 7.84 % Date: 12/31/1997
Return: 3.64 % Date: 11/30/1997
Return: 17.34 % Date: 10/31/1997
Return: -9.35 % Date: 9/30/1997
Return: -2.08 % Date: 8/31/1997
Return: -2.12 % Date: 7/31/1997
Return: 12.49 % Date: 6/30/1997
Return: 14.98 % Date: 5/31/1997
Return: -4.57 % Date: 4/30/1997
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 04/97 - 04/19
Return: 23.00 %
Count: 1 Return: -8.00 %
Count: 5 Return: -7.00 %
Count: 4 Return: 11.00 %
Count: 2 Return: 14.00 %
Count: 1 Return: 10.00 %
Count: 4 Return: 3.00 %
Count: 19 Return: 1.00 %
Count: 18 Return: 5.00 %
Count: 11 Return: 9.00 %
Count: 3 Return: -4.00 %
Count: 17 Return: -6.00 %
Count: 15 Return: -3.00 %
Count: 9 Return: 19.00 %
Count: 1 Return: -1.00 %
Count: 20 Return: 2.00 %
Count: 21 Return: 7.00 %
Count: 14 Return: 6.00 %
Count: 8 Return: 8.00 %
Count: 9 Return: 4.00 %
Count: 14 Return: 17.00 %
Count: 2 Return: -9.00 %
Count: 9 Return: -2.00 %
Count: 19 Return: 12.00 %
Count: 3 Return: 15.00 %
Count: 2 Return: -5.00 %
Count: 13 Return: 0.00 %
Count: 21
Note: All performance data is since program inception.

Underwater Curve

Date Range: 04/97 - 04/19
Date: 4/30/2019
Drawdown: -4.38 % Date: 3/31/2019
Drawdown: -7.97 % Date: 2/28/2019
Drawdown: -14.74 % Date: 1/31/2019
Drawdown: -13.33 % Date: 12/31/2018
Drawdown: -7.88 % Date: 11/30/2018
Drawdown: -8.89 % Date: 10/31/2018
Drawdown: -10.53 % Date: 9/30/2018
Drawdown: -1.15 % Date: 8/31/2018
Drawdown: -3.52 % Date: 7/31/2018
Drawdown: -4.43 % Date: 6/30/2018
Drawdown: -3.56 % Date: 5/31/2018
Drawdown: -1.52 % Date: 4/30/2018
Drawdown: -6.23 % Date: 3/31/2018
Drawdown: -6.53 % Date: 2/28/2018
Drawdown: -8.97 % Date: 1/31/2018
Drawdown: 0.00 % Date: 12/31/2017
Drawdown: -1.03 % Date: 11/30/2017
Drawdown: -3.97 % Date: 10/31/2017
Drawdown: -2.41 % Date: 9/30/2017
Drawdown: -11.47 % Date: 8/31/2017
Drawdown: -6.88 % Date: 7/31/2017
Drawdown: -13.17 % Date: 6/30/2017
Drawdown: -14.33 % Date: 5/31/2017
Drawdown: -7.83 % Date: 4/30/2017
Drawdown: -7.16 % Date: 3/31/2017
Drawdown: -7.48 % Date: 2/28/2017
Drawdown: -3.29 % Date: 1/31/2017
Drawdown: -9.58 % Date: 12/31/2016
Drawdown: -8.13 % Date: 11/30/2016
Drawdown: -8.91 % Date: 10/31/2016
Drawdown: -11.94 % Date: 9/30/2016
Drawdown: -13.32 % Date: 8/31/2016
Drawdown: -11.36 % Date: 7/31/2016
Drawdown: -10.26 % Date: 6/30/2016
Drawdown: -11.12 % Date: 5/31/2016
Drawdown: -12.49 % Date: 4/30/2016
Drawdown: -11.19 % Date: 3/31/2016
Drawdown: -3.52 % Date: 2/29/2016
Drawdown: -0.54 % Date: 1/31/2016
Drawdown: -3.27 % Date: 12/31/2015
Drawdown: -5.99 % Date: 11/30/2015
Drawdown: -2.96 % Date: 10/31/2015
Drawdown: -12.17 % Date: 9/30/2015
Drawdown: -11.49 % Date: 8/31/2015
Drawdown: -15.02 % Date: 7/31/2015
Drawdown: -10.89 % Date: 6/30/2015
Drawdown: -16.23 % Date: 5/31/2015
Drawdown: -7.69 % Date: 4/30/2015
Drawdown: -7.78 % Date: 3/31/2015
Drawdown: -3.42 % Date: 2/28/2015
Drawdown: -4.57 % Date: 1/31/2015
Drawdown: -1.49 % Date: 12/31/2014
Drawdown: -3.72 % Date: 11/30/2014
Drawdown: -1.88 % Date: 10/31/2014
Drawdown: -10.54 % Date: 9/30/2014
Drawdown: -14.57 % Date: 8/31/2014
Drawdown: -20.44 % Date: 7/31/2014
Drawdown: -25.90 % Date: 6/30/2014
Drawdown: -24.59 % Date: 5/31/2014
Drawdown: -25.00 % Date: 4/30/2014
Drawdown: -29.06 % Date: 3/31/2014
Drawdown: -29.52 % Date: 2/28/2014
Drawdown: -25.95 % Date: 1/31/2014
Drawdown: -24.48 % Date: 12/31/2013
Drawdown: -20.27 % Date: 11/30/2013
Drawdown: -18.30 % Date: 10/31/2013
Drawdown: -20.56 % Date: 9/30/2013
Drawdown: -24.32 % Date: 8/31/2013
Drawdown: -26.19 % Date: 7/31/2013
Drawdown: -21.07 % Date: 6/30/2013
Drawdown: -21.89 % Date: 5/31/2013
Drawdown: -18.81 % Date: 4/30/2013
Drawdown: -16.74 % Date: 3/31/2013
Drawdown: -23.03 % Date: 2/28/2013
Drawdown: -24.89 % Date: 1/31/2013
Drawdown: -27.09 % Date: 12/31/2012
Drawdown: -27.24 % Date: 11/30/2012
Drawdown: -28.62 % Date: 10/31/2012
Drawdown: -28.31 % Date: 9/30/2012
Drawdown: -25.15 % Date: 8/31/2012
Drawdown: -22.51 % Date: 7/31/2012
Drawdown: -21.52 % Date: 6/30/2012
Drawdown: -23.93 % Date: 5/31/2012
Drawdown: -17.77 % Date: 4/30/2012
Drawdown: -17.60 % Date: 3/31/2012
Drawdown: -17.39 % Date: 2/29/2012
Drawdown: -19.70 % Date: 1/31/2012
Drawdown: -22.96 % Date: 12/31/2011
Drawdown: -23.70 % Date: 11/30/2011
Drawdown: -25.43 % Date: 10/31/2011
Drawdown: -26.45 % Date: 9/30/2011
Drawdown: -19.19 % Date: 8/31/2011
Drawdown: -25.18 % Date: 7/31/2011
Drawdown: -18.37 % Date: 6/30/2011
Drawdown: -18.79 % Date: 5/31/2011
Drawdown: -12.68 % Date: 4/30/2011
Drawdown: -3.54 % Date: 3/31/2011
Drawdown: -7.05 % Date: 2/28/2011
Drawdown: 0.00 % Date: 1/31/2011
Drawdown: 0.00 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -7.71 % Date: 10/31/2010
Drawdown: -3.68 % Date: 9/30/2010
Drawdown: -7.49 % Date: 8/31/2010
Drawdown: -11.21 % Date: 7/31/2010
Drawdown: -13.51 % Date: 6/30/2010
Drawdown: -9.07 % Date: 5/31/2010
Drawdown: -9.24 % Date: 4/30/2010
Drawdown: -1.48 % Date: 3/31/2010
Drawdown: -1.86 % Date: 2/28/2010
Drawdown: -7.52 % Date: 1/31/2010
Drawdown: -6.25 % Date: 12/31/2009
Drawdown: 0.00 % Date: 11/30/2009
Drawdown: 0.00 % Date: 10/31/2009
Drawdown: -3.51 % Date: 9/30/2009
Drawdown: 0.00 % Date: 8/31/2009
Drawdown: 0.00 % Date: 7/31/2009
Drawdown: 0.00 % Date: 6/30/2009
Drawdown: -4.77 % Date: 5/31/2009
Drawdown: -4.55 % Date: 4/30/2009
Drawdown: -6.26 % Date: 3/31/2009
Drawdown: -3.64 % Date: 2/28/2009
Drawdown: 0.00 % Date: 1/31/2009
Drawdown: -1.82 % 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: -6.92 % Date: 8/31/2008
Drawdown: -20.41 % Date: 7/31/2008
Drawdown: -21.91 % Date: 6/30/2008
Drawdown: -13.76 % Date: 5/31/2008
Drawdown: -19.12 % Date: 4/30/2008
Drawdown: -24.72 % Date: 3/31/2008
Drawdown: -20.39 % Date: 2/29/2008
Drawdown: -13.05 % Date: 1/31/2008
Drawdown: -21.78 % Date: 12/31/2007
Drawdown: -26.75 % Date: 11/30/2007
Drawdown: -24.26 % Date: 10/31/2007
Drawdown: -26.83 % Date: 9/30/2007
Drawdown: -26.33 % Date: 8/31/2007
Drawdown: -28.43 % Date: 7/31/2007
Drawdown: -24.42 % Date: 6/30/2007
Drawdown: -19.93 % Date: 5/31/2007
Drawdown: -25.72 % Date: 4/30/2007
Drawdown: -28.15 % Date: 3/31/2007
Drawdown: -30.39 % Date: 2/28/2007
Drawdown: -30.44 % Date: 1/31/2007
Drawdown: -27.91 % Date: 12/31/2006
Drawdown: -30.24 % Date: 11/30/2006
Drawdown: -32.52 % Date: 10/31/2006
Drawdown: -27.94 % Date: 9/30/2006
Drawdown: -24.58 % Date: 8/31/2006
Drawdown: -25.26 % Date: 7/31/2006
Drawdown: -24.34 % Date: 6/30/2006
Drawdown: -19.13 % Date: 5/31/2006
Drawdown: -18.08 % Date: 4/30/2006
Drawdown: -16.28 % Date: 3/31/2006
Drawdown: -18.23 % Date: 2/28/2006
Drawdown: -18.53 % Date: 1/31/2006
Drawdown: -17.96 % Date: 12/31/2005
Drawdown: -17.54 % Date: 11/30/2005
Drawdown: -15.18 % Date: 10/31/2005
Drawdown: -21.36 % Date: 9/30/2005
Drawdown: -22.10 % Date: 8/31/2005
Drawdown: -22.98 % Date: 7/31/2005
Drawdown: -24.37 % Date: 6/30/2005
Drawdown: -23.87 % Date: 5/31/2005
Drawdown: -21.98 % Date: 4/30/2005
Drawdown: -18.72 % Date: 3/31/2005
Drawdown: -13.93 % Date: 2/28/2005
Drawdown: -14.16 % Date: 1/31/2005
Drawdown: -10.05 % Date: 12/31/2004
Drawdown: -7.90 % Date: 11/30/2004
Drawdown: -7.56 % Date: 10/31/2004
Drawdown: -13.77 % Date: 9/30/2004
Drawdown: -12.79 % Date: 8/31/2004
Drawdown: -19.08 % Date: 7/31/2004
Drawdown: -14.05 % Date: 6/30/2004
Drawdown: -13.67 % Date: 5/31/2004
Drawdown: -12.61 % Date: 4/30/2004
Drawdown: -6.97 % 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: -1.03 % Date: 10/31/2003
Drawdown: 0.00 % Date: 9/30/2003
Drawdown: -9.13 % Date: 8/31/2003
Drawdown: -12.77 % Date: 7/31/2003
Drawdown: -12.00 % Date: 6/30/2003
Drawdown: -7.94 % Date: 5/31/2003
Drawdown: -1.70 % Date: 4/30/2003
Drawdown: -10.16 % Date: 3/31/2003
Drawdown: -6.32 % Date: 2/28/2003
Drawdown: 0.00 % Date: 1/31/2003
Drawdown: 0.00 % Date: 12/31/2002
Drawdown: -6.15 % Date: 11/30/2002
Drawdown: -14.83 % Date: 10/31/2002
Drawdown: -9.42 % Date: 9/30/2002
Drawdown: 0.00 % Date: 8/31/2002
Drawdown: 0.00 % Date: 7/31/2002
Drawdown: -1.29 % Date: 6/30/2002
Drawdown: -5.83 % Date: 5/31/2002
Drawdown: -15.63 % Date: 4/30/2002
Drawdown: -11.07 % Date: 3/31/2002
Drawdown: -7.67 % Date: 2/28/2002
Drawdown: -5.74 % Date: 1/31/2002
Drawdown: -4.48 % Date: 12/31/2001
Drawdown: -4.97 % Date: 11/30/2001
Drawdown: -9.34 % Date: 10/31/2001
Drawdown: 0.00 % Date: 9/30/2001
Drawdown: 0.00 % Date: 8/31/2001
Drawdown: -1.70 % Date: 7/31/2001
Drawdown: -3.66 % Date: 6/30/2001
Drawdown: 0.00 % Date: 5/31/2001
Drawdown: -1.88 % Date: 4/30/2001
Drawdown: -4.19 % Date: 3/31/2001
Drawdown: 0.00 % Date: 2/28/2001
Drawdown: -1.68 % Date: 1/31/2001
Drawdown: -6.31 % Date: 12/31/2000
Drawdown: -0.12 % Date: 11/30/2000
Drawdown: 0.00 % Date: 10/31/2000
Drawdown: 0.00 % Date: 9/30/2000
Drawdown: -1.70 % Date: 8/31/2000
Drawdown: 0.00 % Date: 7/31/2000
Drawdown: -2.99 % Date: 6/30/2000
Drawdown: -4.41 % Date: 5/31/2000
Drawdown: 0.00 % Date: 4/30/2000
Drawdown: 0.00 % Date: 3/31/2000
Drawdown: -6.76 % Date: 2/29/2000
Drawdown: -5.25 % Date: 1/31/2000
Drawdown: -5.58 % Date: 12/31/1999
Drawdown: 0.00 % Date: 11/30/1999
Drawdown: -2.23 % Date: 10/31/1999
Drawdown: -7.06 % Date: 9/30/1999
Drawdown: -5.89 % Date: 8/31/1999
Drawdown: -2.39 % Date: 7/31/1999
Drawdown: -10.07 % Date: 6/30/1999
Drawdown: -5.90 % Date: 5/31/1999
Drawdown: -5.56 % Date: 4/30/1999
Drawdown: 0.00 % Date: 3/31/1999
Drawdown: -2.82 % Date: 2/28/1999
Drawdown: 0.00 % Date: 1/31/1999
Drawdown: -1.48 % Date: 12/31/1998
Drawdown: -1.54 % Date: 11/30/1998
Drawdown: -3.90 % Date: 10/31/1998
Drawdown: -7.82 % Date: 9/30/1998
Drawdown: -5.22 % Date: 8/31/1998
Drawdown: 0.00 % Date: 7/31/1998
Drawdown: -1.38 % Date: 6/30/1998
Drawdown: 0.00 % Date: 5/31/1998
Drawdown: 0.00 % Date: 4/30/1998
Drawdown: -5.46 % Date: 3/31/1998
Drawdown: 0.00 % Date: 2/28/1998
Drawdown: 0.00 % Date: 1/31/1998
Drawdown: 0.00 % Date: 12/31/1997
Drawdown: 0.00 % Date: 11/30/1997
Drawdown: 0.00 % Date: 10/31/1997
Drawdown: -13.12 % Date: 9/30/1997
Drawdown: -4.16 % Date: 8/31/1997
Drawdown: -2.12 % Date: 7/31/1997
Drawdown: 0.00 % Date: 6/30/1997
Drawdown: 0.00 % Date: 5/31/1997
Drawdown: -4.57 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Drury Capital, Inc.
Address: c/o Drury Capital Services 47 Hulfish Street, Suite 340
City: Princeton
State: NJ
Zip: 08542
Country: USA

Key People

Name:  Bernard V. Drury
Position:  Principal
Biography: 

Mr. Drury is the developer of the trading methodology for Drury Capital. He has been an active participant in the futures markets since 1978. Before developing the trend-following methodology of the Diversified Trend-Following Program, Mr. Drury worked for years as an analyst and trader in the grain markets and worked for Goldman Sachs Princeton from September 1997 to March 1999. Since September 1978, Mr. Drury had been a fundamentally-oriented grain trader who initially undertook trendfollowing research in order to enhance his grain trading skills. The favorable research results le d to the establishment of the Diversified Trend-Following Program, a stand-alone technical trend-following system. Mr. Drury received a B.A. in Russian, cum laude, from Dartmouth College in 1978 and an M.B.A. from the University of Chicago in 1993.


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 
 Diversified Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Long Term Yes 
 Medium Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $10,000,000 
 Margin / Equity Ratio: 15% 
 Managed Account Availability: Open