Alder Capital DAC

Global 20 Program *QEP*


Monthly Performance (%)

Date Range: 01/01 - 04/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 -1.23 -5.04 -1.51 -0.29   -7.89 
2018 2.33 2.19 -4.94 -0.38 -1.94 -2.35 -3.42 0.06 -1.33 2.80 -6.31 4.97  -8.59 
2017 -2.36 3.92 -3.85 -1.04 2.76 2.26 7.33 -2.40 2.22 -2.75 2.35 1.77  10.04 
2016 4.74 4.01 -4.57 3.04 1.19 1.26 -1.39 -1.40 -6.24 -0.55 -2.20 -0.55  -3.21 
2015 4.14 -0.73 2.40 -0.45 4.27 -4.36 2.67 -0.19 -5.02 -3.21 4.39 -5.41  -2.24 
2014 -5.50 -2.42 -4.28 -3.80 -4.04 -1.67 -2.40 -0.36 12.81 6.58 2.44 6.32  2.03 
2013 -0.18 -1.11 8.60 -1.67 -1.56 0.82 0.33 -3.62 3.20 1.38 7.62 4.02  18.49 
2012 1.44 -2.70 -7.98 -3.51 2.26 3.85 10.42 -5.64 -4.53 -3.17 2.99 4.35  -3.66 
2011 -3.04 4.31 -1.65 9.05 -7.92 -6.80 8.80 -3.76 -3.41 -3.76 0.73 6.74  -2.58 
2010 1.80 0.48 2.72 -0.67 0.59 0.13 1.67 -1.48 0.92 -0.32 2.10 -0.41  7.70 
2009 4.91 0.59 2.38 3.28 0.48 -4.94 5.08 -4.27 -2.83 0.43 1.63 3.96  10.54 
2008 2.14 7.37 7.48 0.04 -4.29 -0.14 -6.28 -6.62 1.96 3.50 -1.42 0.43  3.05 
2007 3.53 -8.19 1.62 0.43 4.15 -0.18 0.04 1.18 4.50 1.22 1.62 -2.48  7.00 
2006 4.82 -2.75 -6.98 1.47 2.04 3.38 -2.46 8.07 -5.86 -2.23 10.30 5.67  14.78 
2005 -9.11 2.69 4.68 -2.39 1.21 5.03 3.62 -2.06 -0.23 6.03 6.88 -2.09  13.89 
2004 -6.84 4.30 0.22 0.16 -2.53 -10.31 2.34 -7.80 0.23 0.54 8.47 3.94  -8.59 
2003 7.66 -2.55 3.53 5.84 10.77 -4.04 -5.45 -7.73 0.77 -3.14 0.99 7.45  12.91 
2002 2.65 -1.86 -4.76 -0.18 7.97 8.38 -0.79 -1.95 -0.19 -0.60 1.04 6.11  15.96 
2001 0.60 11.90 -3.73 -1.54 2.73 0.03 4.20 -7.30 0.75 -1.30 13.19  19.21 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The Alder Global 20 Program is a fully systemac investment strategy that has been connuously trading since 2001. The program deploys disnct and independent stascal models to idenfy and capture persistent moves in deep and liquid developed currency markets – the primary risk allocaon to be to unique trend capture models. An acve, intra-day, trading approach is deployed using a market-leading proprietary trading infrastructure that facilitates cost-efficient risk management. The approach to trend capture and the idenficaon of other independent market drivers combines with the acve risk management to generate an uncorrelated return stream.

Performance Statistics

Date Range: 01/01 - 04/19
  Program S&P 500 Altegris 40 
Total Return 143.56% 220.86% 110.06% 
Annualized Return 5.00% 6.57% 4.13% 
Annualized Std. Deviation 15.17% 14.38% 9.96% 
Correlation -0.03 0.42 
Sharpe Ratio (rf=2.5%) 0.16 0.28 0.16 
Worst Month -10.31% -16.79% -7.77% 
Date of Worst Month 06/2004 10/2008 11/2001 
Worst Drawdown -28.66% -50.95% -15.74% 
Date of Worst Drawdown 5/03 - 8/04 10/07 - 2/09 4/11 - 9/13 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 01/01 - 04/19

Year or YTD Program S&P 500 Altegris 40 
2019 -7.89 18.24 5.17 
2018 -8.59 -4.38 -4.29 
2017 10.04 21.84 1.24 
2016 -3.21 11.98 -3.13 
2015 -2.24 1.41 0.09 
2014 2.03 13.69 15.75 
2013 18.49 32.41 -2.45 
2012 -3.66 15.98 -4.75 
2011 -2.58 2.12 -3.23 
2010 7.70 15.06 11.33 
2009 10.54 26.45 -7.98 
2008 3.05 -36.99 15.47 
2007 7.00 5.50 7.18 
2006 14.78 15.79 6.70 
2005 13.89 4.89 4.51 
2004 -8.59 10.87 2.57 
2003 12.91 28.69 15.99 
2002 15.96 -22.10 15.22 
2001 19.21 -14.90 4.31 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 01/01 - 04/19
Date: 4/30/2019
Perf: $2,079.01 Date: 3/31/2019
Perf: $2,023.37 Date: 2/28/2019
Perf: $1,953.24 Date: 1/31/2019
Perf: $1,940.82 Date: 12/31/2018
Perf: $1,976.80 Date: 11/30/2018
Perf: $1,968.53 Date: 10/31/2018
Perf: $1,992.44 Date: 9/30/2018
Perf: $2,042.90 Date: 8/31/2018
Perf: $2,052.14 Date: 7/31/2018
Perf: $2,001.11 Date: 6/30/2018
Perf: $2,016.23 Date: 5/31/2018
Perf: $1,999.44 Date: 4/30/2018
Perf: $2,025.57 Date: 3/31/2018
Perf: $2,003.92 Date: 2/28/2018
Perf: $2,005.73 Date: 1/31/2018
Perf: $2,136.03 Date: 12/31/2017
Perf: $2,065.39 Date: 11/30/2017
Perf: $2,043.12 Date: 10/31/2017
Perf: $2,040.47 Date: 9/30/2017
Perf: $1,958.41 Date: 8/31/2017
Perf: $2,000.62 Date: 7/31/2017
Perf: $1,967.95 Date: 6/30/2017
Perf: $1,960.31 Date: 5/31/2017
Perf: $2,019.27 Date: 4/30/2017
Perf: $2,015.44 Date: 3/31/2017
Perf: $2,027.61 Date: 2/28/2017
Perf: $2,057.65 Date: 1/31/2017
Perf: $2,013.75 Date: 12/31/2016
Perf: $2,040.07 Date: 11/30/2016
Perf: $2,024.68 Date: 10/31/2016
Perf: $2,047.20 Date: 9/30/2016
Perf: $2,101.42 Date: 8/31/2016
Perf: $2,128.88 Date: 7/31/2016
Perf: $2,187.73 Date: 6/30/2016
Perf: $2,165.64 Date: 5/31/2016
Perf: $2,077.35 Date: 4/30/2016
Perf: $2,114.35 Date: 3/31/2016
Perf: $2,168.79 Date: 2/29/2016
Perf: $2,232.87 Date: 1/31/2016
Perf: $2,179.26 Date: 12/31/2015
Perf: $2,105.97 Date: 11/30/2015
Perf: $2,155.55 Date: 10/31/2015
Perf: $2,084.47 Date: 9/30/2015
Perf: $2,121.38 Date: 8/31/2015
Perf: $2,076.33 Date: 7/31/2015
Perf: $2,112.88 Date: 6/30/2015
Perf: $2,033.37 Date: 5/31/2015
Perf: $2,144.91 Date: 4/30/2015
Perf: $2,160.47 Date: 3/31/2015
Perf: $2,247.21 Date: 2/28/2015
Perf: $2,198.62 Date: 1/31/2015
Perf: $2,202.14 Date: 12/31/2014
Perf: $2,104.09 Date: 11/30/2014
Perf: $2,067.70 Date: 10/31/2014
Perf: $1,951.58 Date: 9/30/2014
Perf: $1,923.31 Date: 8/31/2014
Perf: $1,895.07 Date: 7/31/2014
Perf: $1,818.16 Date: 6/30/2014
Perf: $1,832.83 Date: 5/31/2014
Perf: $1,817.20 Date: 4/30/2014
Perf: $1,771.84 Date: 3/31/2014
Perf: $1,758.47 Date: 2/28/2014
Perf: $1,784.89 Date: 1/31/2014
Perf: $1,770.37 Date: 12/31/2013
Perf: $1,817.82 Date: 11/30/2013
Perf: $1,820.37 Date: 10/31/2013
Perf: $1,788.00 Date: 9/30/2013
Perf: $1,747.98 Date: 8/31/2013
Perf: $1,758.53 Date: 7/31/2013
Perf: $1,792.95 Date: 6/30/2013
Perf: $1,808.69 Date: 5/31/2013
Perf: $1,879.94 Date: 4/30/2013
Perf: $1,964.41 Date: 3/31/2013
Perf: $1,915.00 Date: 2/28/2013
Perf: $1,887.81 Date: 1/31/2013
Perf: $1,898.83 Date: 12/31/2012
Perf: $1,863.42 Date: 11/30/2012
Perf: $1,854.34 Date: 10/31/2012
Perf: $1,849.16 Date: 9/30/2012
Perf: $1,918.61 Date: 8/31/2012
Perf: $1,950.80 Date: 7/31/2012
Perf: $1,977.70 Date: 6/30/2012
Perf: $1,899.99 Date: 5/31/2012
Perf: $1,974.22 Date: 4/30/2012
Perf: $1,937.41 Date: 3/31/2012
Perf: $1,925.85 Date: 2/29/2012
Perf: $1,970.59 Date: 1/31/2012
Perf: $1,962.54 Date: 12/31/2011
Perf: $1,956.28 Date: 11/30/2011
Perf: $1,937.68 Date: 10/31/2011
Perf: $1,931.88 Date: 9/30/2011
Perf: $2,011.54 Date: 8/31/2011
Perf: $2,012.75 Date: 7/31/2011
Perf: $2,016.78 Date: 6/30/2011
Perf: $1,946.89 Date: 5/31/2011
Perf: $1,998.86 Date: 4/30/2011
Perf: $2,074.58 Date: 3/31/2011
Perf: $1,996.71 Date: 2/28/2011
Perf: $2,027.73 Date: 1/31/2011
Perf: $1,993.84 Date: 12/31/2010
Perf: $2,021.53 Date: 11/30/2010
Perf: $1,938.37 Date: 10/31/2010
Perf: $2,009.51 Date: 9/30/2010
Perf: $1,934.45 Date: 8/31/2010
Perf: $1,899.88 Date: 7/31/2010
Perf: $1,824.35 Date: 6/30/2010
Perf: $1,848.19 Date: 5/31/2010
Perf: $1,841.19 Date: 4/30/2010
Perf: $1,886.86 Date: 3/31/2010
Perf: $1,858.24 Date: 2/28/2010
Perf: $1,787.28 Date: 1/31/2010
Perf: $1,770.64 Date: 12/31/2009
Perf: $1,815.85 Date: 11/30/2009
Perf: $1,891.52 Date: 10/31/2009
Perf: $1,818.24 Date: 9/30/2009
Perf: $1,866.01 Date: 8/31/2009
Perf: $1,822.63 Date: 7/31/2009
Perf: $1,816.64 Date: 6/30/2009
Perf: $1,818.64 Date: 5/31/2009
Perf: $1,868.33 Date: 4/30/2009
Perf: $1,842.90 Date: 3/31/2009
Perf: $1,905.20 Date: 2/28/2009
Perf: $1,959.48 Date: 1/31/2009
Perf: $1,960.46 Date: 12/31/2008
Perf: $1,973.29 Date: 11/30/2008
Perf: $1,923.84 Date: 10/31/2008
Perf: $1,855.74 Date: 9/30/2008
Perf: $1,764.85 Date: 8/31/2008
Perf: $1,761.15 Date: 7/31/2008
Perf: $1,809.46 Date: 6/30/2008
Perf: $1,896.51 Date: 5/31/2008
Perf: $1,847.19 Date: 4/30/2008
Perf: $1,809.91 Date: 3/31/2008
Perf: $1,830.96 Date: 2/29/2008
Perf: $1,839.06 Date: 1/31/2008
Perf: $1,740.05 Date: 12/31/2007
Perf: $1,708.95 Date: 11/30/2007
Perf: $1,712.88 Date: 10/31/2007
Perf: $1,724.09 Date: 9/30/2007
Perf: $1,652.85 Date: 8/31/2007
Perf: $1,579.11 Date: 7/31/2007
Perf: $1,640.29 Date: 6/30/2007
Perf: $1,692.59 Date: 5/31/2007
Perf: $1,645.05 Date: 4/30/2007
Perf: $1,588.35 Date: 3/31/2007
Perf: $1,524.33 Date: 2/28/2007
Perf: $1,560.85 Date: 1/31/2007
Perf: $1,621.66 Date: 12/31/2006
Perf: $1,594.40 Date: 11/30/2006
Perf: $1,542.27 Date: 10/31/2006
Perf: $1,505.39 Date: 9/30/2006
Perf: $1,489.01 Date: 8/31/2006
Perf: $1,504.96 Date: 7/31/2006
Perf: $1,488.29 Date: 6/30/2006
Perf: $1,510.65 Date: 5/31/2006
Perf: $1,531.63 Date: 4/30/2006
Perf: $1,573.33 Date: 3/31/2006
Perf: $1,535.85 Date: 2/28/2006
Perf: $1,495.76 Date: 1/31/2006
Perf: $1,522.87 Date: 12/31/2005
Perf: $1,494.33 Date: 11/30/2005
Perf: $1,521.88 Date: 10/31/2005
Perf: $1,459.27 Date: 9/30/2005
Perf: $1,456.94 Date: 8/31/2005
Perf: $1,434.85 Date: 7/31/2005
Perf: $1,427.14 Date: 6/30/2005
Perf: $1,426.28 Date: 5/31/2005
Perf: $1,379.25 Date: 4/30/2005
Perf: $1,337.91 Date: 3/31/2005
Perf: $1,371.51 Date: 2/28/2005
Perf: $1,379.23 Date: 1/31/2005
Perf: $1,369.78 Date: 12/31/2004
Perf: $1,429.84 Date: 11/30/2004
Perf: $1,425.13 Date: 10/31/2004
Perf: $1,351.99 Date: 9/30/2004
Perf: $1,307.28 Date: 8/31/2004
Perf: $1,289.87 Date: 7/31/2004
Perf: $1,298.83 Date: 6/30/2004
Perf: $1,313.81 Date: 5/31/2004
Perf: $1,358.64 Date: 4/30/2004
Perf: $1,380.59 Date: 3/31/2004
Perf: $1,472.16 Date: 2/29/2004
Perf: $1,486.73 Date: 1/31/2004
Perf: $1,407.36 Date: 12/31/2003
Perf: $1,393.98 Date: 11/30/2003
Perf: $1,336.12 Date: 10/31/2003
Perf: $1,340.14 Date: 9/30/2003
Perf: $1,310.65 Date: 8/31/2003
Perf: $1,316.71 Date: 7/31/2003
Perf: $1,304.45 Date: 6/30/2003
Perf: $1,334.61 Date: 5/31/2003
Perf: $1,368.97 Date: 4/30/2003
Perf: $1,293.07 Date: 3/31/2003
Perf: $1,274.34 Date: 2/28/2003
Perf: $1,351.65 Date: 1/31/2003
Perf: $1,275.50 Date: 12/31/2002
Perf: $1,201.83 Date: 11/30/2002
Perf: $1,132.84 Date: 10/31/2002
Perf: $1,164.99 Date: 9/30/2002
Perf: $1,228.64 Date: 8/31/2002
Perf: $1,174.49 Date: 7/31/2002
Perf: $1,146.85 Date: 6/30/2002
Perf: $1,088.72 Date: 5/31/2002
Perf: $1,000.29 Date: 4/30/2002
Perf: $975.04 Date: 3/31/2002
Perf: $998.60 Date: 2/28/2002
Perf: $1,001.51 Date: 1/31/2002
Perf: $1,030.57 Date: 12/31/2001
Perf: $1,043.09 Date: 11/30/2001
Perf: $1,021.53 Date: 10/31/2001
Perf: $1,107.59 Date: 9/30/2001
Perf: $1,061.73 Date: 8/31/2001
Perf: $1,030.00 Date: 7/31/2001
Perf: $1,000.10 Date: 6/30/2001
Perf: $997.90 Date: 5/31/2001
Perf: $1,009.00 Date: 4/30/2001
Perf: $1,008.70 Date: 3/31/2001
Perf: $1,074.92 Date: 2/28/2001
Perf: $1,009.50 Date: 1/31/2001
Perf: $1,000.00 Date: 4/30/2019
Perf: $3,098.60 Date: 3/31/2019
Perf: $2,977.99 Date: 2/28/2019
Perf: $2,921.31 Date: 1/31/2019
Perf: $2,830.46 Date: 12/31/2018
Perf: $2,620.55 Date: 11/30/2018
Perf: $2,880.68 Date: 10/31/2018
Perf: $2,823.08 Date: 9/30/2018
Perf: $3,030.36 Date: 8/31/2018
Perf: $3,013.19 Date: 7/31/2018
Perf: $2,918.06 Date: 6/30/2018
Perf: $2,813.40 Date: 5/31/2018
Perf: $2,796.06 Date: 4/30/2018
Perf: $2,730.26 Date: 3/31/2018
Perf: $2,719.93 Date: 2/28/2018
Perf: $2,790.82 Date: 1/31/2018
Perf: $2,897.74 Date: 12/31/2017
Perf: $2,740.70 Date: 11/30/2017
Perf: $2,710.61 Date: 10/31/2017
Perf: $2,629.87 Date: 9/30/2017
Perf: $2,569.99 Date: 8/31/2017
Perf: $2,518.12 Date: 7/31/2017
Perf: $2,510.34 Date: 6/30/2017
Perf: $2,459.67 Date: 5/31/2017
Perf: $2,444.51 Date: 4/30/2017
Perf: $2,410.53 Date: 3/31/2017
Perf: $2,385.95 Date: 2/28/2017
Perf: $2,383.09 Date: 1/31/2017
Perf: $2,292.09 Date: 12/31/2016
Perf: $2,249.36 Date: 11/30/2016
Perf: $2,205.68 Date: 10/31/2016
Perf: $2,126.99 Date: 9/30/2016
Perf: $2,166.41 Date: 8/31/2016
Perf: $2,165.98 Date: 7/31/2016
Perf: $2,162.95 Date: 6/30/2016
Perf: $2,085.98 Date: 5/31/2016
Perf: $2,080.57 Date: 4/30/2016
Perf: $2,043.78 Date: 3/31/2016
Perf: $2,035.84 Date: 2/29/2016
Perf: $1,906.58 Date: 1/31/2016
Perf: $1,909.06 Date: 12/31/2015
Perf: $2,008.69 Date: 11/30/2015
Perf: $2,040.94 Date: 10/31/2015
Perf: $2,034.83 Date: 9/30/2015
Perf: $1,876.46 Date: 8/31/2015
Perf: $1,923.98 Date: 7/31/2015
Perf: $2,047.44 Date: 6/30/2015
Perf: $2,005.33 Date: 5/31/2015
Perf: $2,045.00 Date: 4/30/2015
Perf: $2,018.96 Date: 3/31/2015
Perf: $1,999.76 Date: 2/28/2015
Perf: $2,031.86 Date: 1/31/2015
Perf: $1,921.38 Date: 12/31/2014
Perf: $1,980.81 Date: 11/30/2014
Perf: $1,985.77 Date: 10/31/2014
Perf: $1,933.76 Date: 9/30/2014
Perf: $1,887.70 Date: 8/31/2014
Perf: $1,914.50 Date: 7/31/2014
Perf: $1,840.86 Date: 6/30/2014
Perf: $1,866.62 Date: 5/31/2014
Perf: $1,828.77 Date: 4/30/2014
Perf: $1,786.78 Date: 3/31/2014
Perf: $1,773.65 Date: 2/28/2014
Perf: $1,758.88 Date: 1/31/2014
Perf: $1,682.01 Date: 12/31/2013
Perf: $1,742.29 Date: 11/30/2013
Perf: $1,699.30 Date: 10/31/2013
Perf: $1,649.01 Date: 9/30/2013
Perf: $1,576.49 Date: 8/31/2013
Perf: $1,528.49 Date: 7/31/2013
Perf: $1,574.14 Date: 6/30/2013
Perf: $1,497.90 Date: 5/31/2013
Perf: $1,518.25 Date: 4/30/2013
Perf: $1,483.53 Date: 3/31/2013
Perf: $1,455.44 Date: 2/28/2013
Perf: $1,402.83 Date: 1/31/2013
Perf: $1,384.01 Date: 12/31/2012
Perf: $1,315.85 Date: 11/30/2012
Perf: $1,303.98 Date: 10/31/2012
Perf: $1,296.47 Date: 9/30/2012
Perf: $1,320.90 Date: 8/31/2012
Perf: $1,287.68 Date: 7/31/2012
Perf: $1,259.34 Date: 6/30/2012
Perf: $1,242.08 Date: 5/31/2012
Perf: $1,192.93 Date: 4/30/2012
Perf: $1,269.21 Date: 3/31/2012
Perf: $1,277.26 Date: 2/29/2012
Perf: $1,236.57 Date: 1/31/2012
Perf: $1,185.37 Date: 12/31/2011
Perf: $1,134.54 Date: 11/30/2011
Perf: $1,123.08 Date: 10/31/2011
Perf: $1,125.56 Date: 9/30/2011
Perf: $1,014.66 Date: 8/31/2011
Perf: $1,091.38 Date: 7/31/2011
Perf: $1,154.05 Date: 6/30/2011
Perf: $1,177.96 Date: 5/31/2011
Perf: $1,197.96 Date: 4/30/2011
Perf: $1,211.66 Date: 3/31/2011
Perf: $1,176.82 Date: 2/28/2011
Perf: $1,176.35 Date: 1/31/2011
Perf: $1,137.34 Date: 12/31/2010
Perf: $1,111.01 Date: 11/30/2010
Perf: $1,041.44 Date: 10/31/2010
Perf: $1,041.34 Date: 9/30/2010
Perf: $1,003.12 Date: 8/31/2010
Perf: $920.97 Date: 7/31/2010
Perf: $964.47 Date: 6/30/2010
Perf: $901.29 Date: 5/31/2010
Perf: $951.02 Date: 4/30/2010
Perf: $1,033.61 Date: 3/31/2010
Perf: $1,017.53 Date: 2/28/2010
Perf: $959.67 Date: 1/31/2010
Perf: $930.81 Date: 12/31/2009
Perf: $965.57 Date: 11/30/2009
Perf: $947.29 Date: 10/31/2009
Perf: $893.67 Date: 9/30/2009
Perf: $910.61 Date: 8/31/2009
Perf: $877.86 Date: 7/31/2009
Perf: $847.27 Date: 6/30/2009
Perf: $787.72 Date: 5/31/2009
Perf: $786.15 Date: 4/30/2009
Perf: $744.53 Date: 3/31/2009
Perf: $679.50 Date: 2/28/2009
Perf: $624.77 Date: 1/31/2009
Perf: $699.24 Date: 12/31/2008
Perf: $763.61 Date: 11/30/2008
Perf: $755.60 Date: 10/31/2008
Perf: $814.05 Date: 9/30/2008
Perf: $978.31 Date: 8/31/2008
Perf: $1,074.01 Date: 7/31/2008
Perf: $1,058.66 Date: 6/30/2008
Perf: $1,067.62 Date: 5/31/2008
Perf: $1,165.91 Date: 4/30/2008
Perf: $1,150.95 Date: 3/31/2008
Perf: $1,097.50 Date: 2/29/2008
Perf: $1,102.24 Date: 1/31/2008
Perf: $1,139.27 Date: 12/31/2007
Perf: $1,211.98 Date: 11/30/2007
Perf: $1,220.41 Date: 10/31/2007
Perf: $1,273.64 Date: 9/30/2007
Perf: $1,253.71 Date: 8/31/2007
Perf: $1,208.51 Date: 7/31/2007
Perf: $1,190.65 Date: 6/30/2007
Perf: $1,228.74 Date: 5/31/2007
Perf: $1,249.48 Date: 4/30/2007
Perf: $1,207.35 Date: 3/31/2007
Perf: $1,156.13 Date: 2/28/2007
Perf: $1,143.33 Date: 1/31/2007
Perf: $1,166.18 Date: 12/31/2006
Perf: $1,148.84 Date: 11/30/2006
Perf: $1,132.97 Date: 10/31/2006
Perf: $1,111.85 Date: 9/30/2006
Perf: $1,076.75 Date: 8/31/2006
Perf: $1,049.67 Date: 7/31/2006
Perf: $1,025.26 Date: 6/30/2006
Perf: $1,018.95 Date: 5/31/2006
Perf: $1,017.52 Date: 4/30/2006
Perf: $1,047.70 Date: 3/31/2006
Perf: $1,033.84 Date: 2/28/2006
Perf: $1,021.18 Date: 1/31/2006
Perf: $1,018.43 Date: 12/31/2005
Perf: $992.14 Date: 11/30/2005
Perf: $991.84 Date: 10/31/2005
Perf: $955.71 Date: 9/30/2005
Perf: $971.95 Date: 8/31/2005
Perf: $964.14 Date: 7/31/2005
Perf: $972.99 Date: 6/30/2005
Perf: $938.09 Date: 5/31/2005
Perf: $936.78 Date: 4/30/2005
Perf: $907.91 Date: 3/31/2005
Perf: $925.50 Date: 2/28/2005
Perf: $942.17 Date: 1/31/2005
Perf: $922.79 Date: 12/31/2004
Perf: $945.87 Date: 11/30/2004
Perf: $914.77 Date: 10/31/2004
Perf: $879.16 Date: 9/30/2004
Perf: $865.92 Date: 8/31/2004
Perf: $856.66 Date: 7/31/2004
Perf: $853.25 Date: 6/30/2004
Perf: $882.46 Date: 5/31/2004
Perf: $865.67 Date: 4/30/2004
Perf: $853.97 Date: 3/31/2004
Perf: $867.59 Date: 2/29/2004
Perf: $880.89 Date: 1/31/2004
Perf: $868.81 Date: 12/31/2003
Perf: $853.12 Date: 11/30/2003
Perf: $810.64 Date: 10/31/2003
Perf: $803.57 Date: 9/30/2003
Perf: $760.52 Date: 8/31/2003
Perf: $768.67 Date: 7/31/2003
Perf: $753.97 Date: 6/30/2003
Perf: $740.93 Date: 5/31/2003
Perf: $731.56 Date: 4/30/2003
Perf: $694.94 Date: 3/31/2003
Perf: $642.04 Date: 2/28/2003
Perf: $635.87 Date: 1/31/2003
Perf: $645.55 Date: 12/31/2002
Perf: $662.92 Date: 11/30/2002
Perf: $704.26 Date: 10/31/2002
Perf: $665.09 Date: 9/30/2002
Perf: $611.29 Date: 8/31/2002
Perf: $685.84 Date: 7/31/2002
Perf: $681.35 Date: 6/30/2002
Perf: $738.99 Date: 5/31/2002
Perf: $795.64 Date: 4/30/2002
Perf: $801.57 Date: 3/31/2002
Perf: $853.28 Date: 2/28/2002
Perf: $822.36 Date: 1/31/2002
Perf: $838.54 Date: 12/31/2001
Perf: $850.96 Date: 11/30/2001
Perf: $843.54 Date: 10/31/2001
Perf: $783.45 Date: 9/30/2001
Perf: $768.77 Date: 8/31/2001
Perf: $836.34 Date: 7/31/2001
Perf: $892.19 Date: 6/30/2001
Perf: $901.02 Date: 5/31/2001
Perf: $923.46 Date: 4/30/2001
Perf: $917.32 Date: 3/31/2001
Perf: $851.18 Date: 2/28/2001
Perf: $908.80 Date: 1/31/2001
Perf: $1,000.00 Date: 4/30/2019
Perf: $2,435.62 Date: 3/31/2019
Perf: $2,442.70 Date: 2/28/2019
Perf: $2,480.15 Date: 1/31/2019
Perf: $2,611.79 Date: 12/31/2018
Perf: $2,644.31 Date: 11/30/2018
Perf: $2,519.11 Date: 10/31/2018
Perf: $2,688.77 Date: 9/30/2018
Perf: $2,615.54 Date: 8/31/2018
Perf: $2,650.79 Date: 7/31/2018
Perf: $2,649.20 Date: 6/30/2018
Perf: $2,743.01 Date: 5/31/2018
Perf: $2,809.03 Date: 4/30/2018
Perf: $2,864.60 Date: 3/31/2018
Perf: $2,875.53 Date: 2/28/2018
Perf: $3,024.96 Date: 1/31/2018
Perf: $2,960.13 Date: 12/31/2017
Perf: $2,892.73 Date: 11/30/2017
Perf: $2,842.42 Date: 10/31/2017
Perf: $2,777.16 Date: 9/30/2017
Perf: $2,855.69 Date: 8/31/2017
Perf: $2,793.67 Date: 7/31/2017
Perf: $2,862.37 Date: 6/30/2017
Perf: $2,666.88 Date: 5/31/2017
Perf: $2,607.95 Date: 4/30/2017
Perf: $2,537.90 Date: 3/31/2017
Perf: $2,564.57 Date: 2/28/2017
Perf: $2,667.26 Date: 1/31/2017
Perf: $2,566.65 Date: 12/31/2016
Perf: $2,628.68 Date: 11/30/2016
Perf: $2,643.22 Date: 10/31/2016
Perf: $2,702.68 Date: 9/30/2016
Perf: $2,717.63 Date: 8/31/2016
Perf: $2,898.49 Date: 7/31/2016
Perf: $2,939.65 Date: 6/30/2016
Perf: $2,981.09 Date: 5/31/2016
Perf: $2,943.99 Date: 4/30/2016
Perf: $2,909.37 Date: 3/31/2016
Perf: $2,823.54 Date: 2/29/2016
Perf: $2,958.75 Date: 1/31/2016
Perf: $2,844.68 Date: 12/31/2015
Perf: $2,715.94 Date: 11/30/2015
Perf: $2,871.28 Date: 10/31/2015
Perf: $2,750.53 Date: 9/30/2015
Perf: $2,841.75 Date: 8/31/2015
Perf: $2,991.95 Date: 7/31/2015
Perf: $2,997.64 Date: 6/30/2015
Perf: $2,919.69 Date: 5/31/2015
Perf: $3,052.79 Date: 4/30/2015
Perf: $2,927.77 Date: 3/31/2015
Perf: $2,941.01 Date: 2/28/2015
Perf: $2,872.08 Date: 1/31/2015
Perf: $2,893.20 Date: 12/31/2014
Perf: $2,778.18 Date: 11/30/2014
Perf: $2,613.04 Date: 10/31/2014
Perf: $2,550.80 Date: 9/30/2014
Perf: $2,393.32 Date: 8/31/2014
Perf: $2,121.55 Date: 7/31/2014
Perf: $2,129.21 Date: 6/30/2014
Perf: $2,181.57 Date: 5/31/2014
Perf: $2,218.62 Date: 4/30/2014
Perf: $2,312.03 Date: 3/31/2014
Perf: $2,403.35 Date: 2/28/2014
Perf: $2,510.82 Date: 1/31/2014
Perf: $2,573.09 Date: 12/31/2013
Perf: $2,722.84 Date: 11/30/2013
Perf: $2,617.61 Date: 10/31/2013
Perf: $2,432.27 Date: 9/30/2013
Perf: $2,399.17 Date: 8/31/2013
Perf: $2,324.77 Date: 7/31/2013
Perf: $2,412.09 Date: 6/30/2013
Perf: $2,404.16 Date: 5/31/2013
Perf: $2,384.60 Date: 4/30/2013
Perf: $2,422.39 Date: 3/31/2013
Perf: $2,463.53 Date: 2/28/2013
Perf: $2,268.45 Date: 1/31/2013
Perf: $2,293.91 Date: 12/31/2012
Perf: $2,298.05 Date: 11/30/2012
Perf: $2,202.25 Date: 10/31/2012
Perf: $2,138.31 Date: 9/30/2012
Perf: $2,208.32 Date: 8/31/2012
Perf: $2,313.10 Date: 7/31/2012
Perf: $2,451.36 Date: 6/30/2012
Perf: $2,220.03 Date: 5/31/2012
Perf: $2,137.73 Date: 4/30/2012
Perf: $2,090.48 Date: 3/31/2012
Perf: $2,166.53 Date: 2/29/2012
Perf: $2,354.41 Date: 1/31/2012
Perf: $2,419.74 Date: 12/31/2011
Perf: $2,385.39 Date: 11/30/2011
Perf: $2,234.77 Date: 10/31/2011
Perf: $2,218.57 Date: 9/30/2011
Perf: $2,305.25 Date: 8/31/2011
Perf: $2,386.64 Date: 7/31/2011
Perf: $2,479.88 Date: 6/30/2011
Perf: $2,279.30 Date: 5/31/2011
Perf: $2,445.60 Date: 4/30/2011
Perf: $2,655.95 Date: 3/31/2011
Perf: $2,435.54 Date: 2/28/2011
Perf: $2,476.40 Date: 1/31/2011
Perf: $2,374.07 Date: 12/31/2010
Perf: $2,448.51 Date: 11/30/2010
Perf: $2,458.59 Date: 10/31/2010
Perf: $2,408.02 Date: 9/30/2010
Perf: $2,415.75 Date: 8/31/2010
Perf: $2,393.73 Date: 7/31/2010
Perf: $2,429.69 Date: 6/30/2010
Perf: $2,389.78 Date: 5/31/2010
Perf: $2,386.68 Date: 4/30/2010
Perf: $2,372.68 Date: 3/31/2010
Perf: $2,388.68 Date: 2/28/2010
Perf: $2,325.43 Date: 1/31/2010
Perf: $2,314.32 Date: 12/31/2009
Perf: $2,273.40 Date: 11/30/2009
Perf: $2,186.80 Date: 10/31/2009
Perf: $2,151.73 Date: 9/30/2009
Perf: $2,142.52 Date: 8/31/2009
Perf: $2,204.92 Date: 7/31/2009
Perf: $2,303.27 Date: 6/30/2009
Perf: $2,191.92 Date: 5/31/2009
Perf: $2,305.82 Date: 4/30/2009
Perf: $2,294.81 Date: 3/31/2009
Perf: $2,221.93 Date: 2/28/2009
Perf: $2,170.28 Date: 1/31/2009
Perf: $2,157.55 Date: 12/31/2008
Perf: $2,056.57 Date: 11/30/2008
Perf: $2,047.76 Date: 10/31/2008
Perf: $2,077.26 Date: 9/30/2008
Perf: $2,007.02 Date: 8/31/2008
Perf: $1,968.43 Date: 7/31/2008
Perf: $2,107.98 Date: 6/30/2008
Perf: $2,249.23 Date: 5/31/2008
Perf: $2,252.39 Date: 4/30/2008
Perf: $2,353.35 Date: 3/31/2008
Perf: $2,352.41 Date: 2/29/2008
Perf: $2,188.69 Date: 1/31/2008
Perf: $2,038.46 Date: 12/31/2007
Perf: $1,995.75 Date: 11/30/2007
Perf: $2,046.50 Date: 10/31/2007
Perf: $2,013.88 Date: 9/30/2007
Perf: $1,989.60 Date: 8/31/2007
Perf: $1,903.93 Date: 7/31/2007
Perf: $1,881.72 Date: 6/30/2007
Perf: $1,880.97 Date: 5/31/2007
Perf: $1,884.36 Date: 4/30/2007
Perf: $1,809.28 Date: 3/31/2007
Perf: $1,801.53 Date: 2/28/2007
Perf: $1,772.81 Date: 1/31/2007
Perf: $1,930.96 Date: 12/31/2006
Perf: $1,865.12 Date: 11/30/2006
Perf: $1,765.04 Date: 10/31/2006
Perf: $1,600.22 Date: 9/30/2006
Perf: $1,636.72 Date: 8/31/2006
Perf: $1,738.60 Date: 7/31/2006
Perf: $1,608.77 Date: 6/30/2006
Perf: $1,649.34 Date: 5/31/2006
Perf: $1,595.42 Date: 4/30/2006
Perf: $1,563.52 Date: 3/31/2006
Perf: $1,540.87 Date: 2/28/2006
Perf: $1,656.50 Date: 1/31/2006
Perf: $1,703.34 Date: 12/31/2005
Perf: $1,625.01 Date: 11/30/2005
Perf: $1,659.70 Date: 10/31/2005
Perf: $1,552.86 Date: 9/30/2005
Perf: $1,464.55 Date: 8/31/2005
Perf: $1,467.93 Date: 7/31/2005
Perf: $1,498.80 Date: 6/30/2005
Perf: $1,446.44 Date: 5/31/2005
Perf: $1,377.17 Date: 4/30/2005
Perf: $1,360.70 Date: 3/31/2005
Perf: $1,394.02 Date: 2/28/2005
Perf: $1,331.70 Date: 1/31/2005
Perf: $1,296.81 Date: 12/31/2004
Perf: $1,426.79 Date: 11/30/2004
Perf: $1,372.71 Date: 10/31/2004
Perf: $1,265.52 Date: 9/30/2004
Perf: $1,258.72 Date: 8/31/2004
Perf: $1,255.83 Date: 7/31/2004
Perf: $1,362.08 Date: 6/30/2004
Perf: $1,330.93 Date: 5/31/2004
Perf: $1,483.93 Date: 4/30/2004
Perf: $1,522.44 Date: 3/31/2004
Perf: $1,520.01 Date: 2/29/2004
Perf: $1,516.67 Date: 1/31/2004
Perf: $1,454.15 Date: 12/31/2003
Perf: $1,560.91 Date: 11/30/2003
Perf: $1,452.69 Date: 10/31/2003
Perf: $1,438.45 Date: 9/30/2003
Perf: $1,485.08 Date: 8/31/2003
Perf: $1,473.73 Date: 7/31/2003
Perf: $1,597.19 Date: 6/30/2003
Perf: $1,689.26 Date: 5/31/2003
Perf: $1,760.38 Date: 4/30/2003
Perf: $1,589.22 Date: 3/31/2003
Perf: $1,501.53 Date: 2/28/2003
Perf: $1,450.33 Date: 1/31/2003
Perf: $1,488.28 Date: 12/31/2002
Perf: $1,382.39 Date: 11/30/2002
Perf: $1,302.79 Date: 10/31/2002
Perf: $1,289.38 Date: 9/30/2002
Perf: $1,297.17 Date: 8/31/2002
Perf: $1,299.64 Date: 7/31/2002
Perf: $1,325.48 Date: 6/30/2002
Perf: $1,336.04 Date: 5/31/2002
Perf: $1,232.73 Date: 4/30/2002
Perf: $1,141.74 Date: 3/31/2002
Perf: $1,143.80 Date: 2/28/2002
Perf: $1,200.96 Date: 1/31/2002
Perf: $1,223.72 Date: 12/31/2001
Perf: $1,192.13 Date: 11/30/2001
Perf: $1,053.21 Date: 10/31/2001
Perf: $1,067.08 Date: 9/30/2001
Perf: $1,059.14 Date: 8/31/2001
Perf: $1,142.55 Date: 7/31/2001
Perf: $1,096.49 Date: 6/30/2001
Perf: $1,096.17 Date: 5/31/2001
Perf: $1,067.04 Date: 4/30/2001
Perf: $1,083.72 Date: 3/31/2001
Perf: $1,125.71 Date: 2/28/2001
Perf: $1,006.00 Date: 1/31/2001
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 01/01 - 04/19
Date: 4/30/2019
Return: -0.29 % Date: 3/31/2019
Return: -1.51 % Date: 2/28/2019
Return: -5.04 % Date: 1/31/2019
Return: -1.23 % Date: 12/31/2018
Return: 4.97 % Date: 11/30/2018
Return: -6.31 % Date: 10/31/2018
Return: 2.80 % Date: 9/30/2018
Return: -1.33 % Date: 8/31/2018
Return: 0.06 % Date: 7/31/2018
Return: -3.42 % Date: 6/30/2018
Return: -2.35 % Date: 5/31/2018
Return: -1.94 % Date: 4/30/2018
Return: -0.38 % Date: 3/31/2018
Return: -4.94 % Date: 2/28/2018
Return: 2.19 % Date: 1/31/2018
Return: 2.33 % Date: 12/31/2017
Return: 1.77 % Date: 11/30/2017
Return: 2.35 % Date: 10/31/2017
Return: -2.75 % Date: 9/30/2017
Return: 2.22 % Date: 8/31/2017
Return: -2.40 % Date: 7/31/2017
Return: 7.33 % Date: 6/30/2017
Return: 2.26 % Date: 5/31/2017
Return: 2.76 % Date: 4/30/2017
Return: -1.04 % Date: 3/31/2017
Return: -3.85 % Date: 2/28/2017
Return: 3.92 % Date: 1/31/2017
Return: -2.36 % Date: 12/31/2016
Return: -0.55 % Date: 11/30/2016
Return: -2.20 % Date: 10/31/2016
Return: -0.55 % Date: 9/30/2016
Return: -6.24 % Date: 8/31/2016
Return: -1.40 % Date: 7/31/2016
Return: -1.39 % Date: 6/30/2016
Return: 1.26 % Date: 5/31/2016
Return: 1.19 % Date: 4/30/2016
Return: 3.04 % Date: 3/31/2016
Return: -4.57 % Date: 2/29/2016
Return: 4.01 % Date: 1/31/2016
Return: 4.74 % Date: 12/31/2015
Return: -5.41 % Date: 11/30/2015
Return: 4.39 % Date: 10/31/2015
Return: -3.21 % Date: 9/30/2015
Return: -5.02 % Date: 8/31/2015
Return: -0.19 % Date: 7/31/2015
Return: 2.67 % Date: 6/30/2015
Return: -4.36 % Date: 5/31/2015
Return: 4.27 % Date: 4/30/2015
Return: -0.45 % Date: 3/31/2015
Return: 2.40 % Date: 2/28/2015
Return: -0.73 % Date: 1/31/2015
Return: 4.14 % Date: 12/31/2014
Return: 6.32 % Date: 11/30/2014
Return: 2.44 % Date: 10/31/2014
Return: 6.58 % Date: 9/30/2014
Return: 12.81 % Date: 8/31/2014
Return: -0.36 % Date: 7/31/2014
Return: -2.40 % Date: 6/30/2014
Return: -1.67 % Date: 5/31/2014
Return: -4.04 % Date: 4/30/2014
Return: -3.80 % Date: 3/31/2014
Return: -4.28 % Date: 2/28/2014
Return: -2.42 % Date: 1/31/2014
Return: -5.50 % Date: 12/31/2013
Return: 4.02 % Date: 11/30/2013
Return: 7.62 % Date: 10/31/2013
Return: 1.38 % Date: 9/30/2013
Return: 3.20 % Date: 8/31/2013
Return: -3.62 % Date: 7/31/2013
Return: 0.33 % Date: 6/30/2013
Return: 0.82 % Date: 5/31/2013
Return: -1.56 % Date: 4/30/2013
Return: -1.67 % Date: 3/31/2013
Return: 8.60 % Date: 2/28/2013
Return: -1.11 % Date: 1/31/2013
Return: -0.18 % Date: 12/31/2012
Return: 4.35 % Date: 11/30/2012
Return: 2.99 % Date: 10/31/2012
Return: -3.17 % Date: 9/30/2012
Return: -4.53 % Date: 8/31/2012
Return: -5.64 % Date: 7/31/2012
Return: 10.42 % Date: 6/30/2012
Return: 3.85 % Date: 5/31/2012
Return: 2.26 % Date: 4/30/2012
Return: -3.51 % Date: 3/31/2012
Return: -7.98 % Date: 2/29/2012
Return: -2.70 % Date: 1/31/2012
Return: 1.44 % Date: 12/31/2011
Return: 6.74 % Date: 11/30/2011
Return: 0.73 % Date: 10/31/2011
Return: -3.76 % Date: 9/30/2011
Return: -3.41 % Date: 8/31/2011
Return: -3.76 % Date: 7/31/2011
Return: 8.80 % Date: 6/30/2011
Return: -6.80 % Date: 5/31/2011
Return: -7.92 % Date: 4/30/2011
Return: 9.05 % Date: 3/31/2011
Return: -1.65 % Date: 2/28/2011
Return: 4.31 % Date: 1/31/2011
Return: -3.04 % Date: 12/31/2010
Return: -0.41 % Date: 11/30/2010
Return: 2.10 % Date: 10/31/2010
Return: -0.32 % Date: 9/30/2010
Return: 0.92 % Date: 8/31/2010
Return: -1.48 % Date: 7/31/2010
Return: 1.67 % Date: 6/30/2010
Return: 0.13 % Date: 5/31/2010
Return: 0.59 % Date: 4/30/2010
Return: -0.67 % Date: 3/31/2010
Return: 2.72 % Date: 2/28/2010
Return: 0.48 % Date: 1/31/2010
Return: 1.80 % Date: 12/31/2009
Return: 3.96 % Date: 11/30/2009
Return: 1.63 % Date: 10/31/2009
Return: 0.43 % Date: 9/30/2009
Return: -2.83 % Date: 8/31/2009
Return: -4.27 % Date: 7/31/2009
Return: 5.08 % Date: 6/30/2009
Return: -4.94 % Date: 5/31/2009
Return: 0.48 % Date: 4/30/2009
Return: 3.28 % Date: 3/31/2009
Return: 2.38 % Date: 2/28/2009
Return: 0.59 % Date: 1/31/2009
Return: 4.91 % Date: 12/31/2008
Return: 0.43 % Date: 11/30/2008
Return: -1.42 % Date: 10/31/2008
Return: 3.50 % Date: 9/30/2008
Return: 1.96 % Date: 8/31/2008
Return: -6.62 % Date: 7/31/2008
Return: -6.28 % Date: 6/30/2008
Return: -0.14 % Date: 5/31/2008
Return: -4.29 % Date: 4/30/2008
Return: 0.04 % Date: 3/31/2008
Return: 7.48 % Date: 2/29/2008
Return: 7.37 % Date: 1/31/2008
Return: 2.14 % Date: 12/31/2007
Return: -2.48 % Date: 11/30/2007
Return: 1.62 % Date: 10/31/2007
Return: 1.22 % Date: 9/30/2007
Return: 4.50 % Date: 8/31/2007
Return: 1.18 % Date: 7/31/2007
Return: 0.04 % Date: 6/30/2007
Return: -0.18 % Date: 5/31/2007
Return: 4.15 % Date: 4/30/2007
Return: 0.43 % Date: 3/31/2007
Return: 1.62 % Date: 2/28/2007
Return: -8.19 % Date: 1/31/2007
Return: 3.53 % Date: 12/31/2006
Return: 5.67 % Date: 11/30/2006
Return: 10.30 % Date: 10/31/2006
Return: -2.23 % Date: 9/30/2006
Return: -5.86 % Date: 8/31/2006
Return: 8.07 % Date: 7/31/2006
Return: -2.46 % Date: 6/30/2006
Return: 3.38 % Date: 5/31/2006
Return: 2.04 % Date: 4/30/2006
Return: 1.47 % Date: 3/31/2006
Return: -6.98 % Date: 2/28/2006
Return: -2.75 % Date: 1/31/2006
Return: 4.82 % Date: 12/31/2005
Return: -2.09 % Date: 11/30/2005
Return: 6.88 % Date: 10/31/2005
Return: 6.03 % Date: 9/30/2005
Return: -0.23 % Date: 8/31/2005
Return: -2.06 % Date: 7/31/2005
Return: 3.62 % Date: 6/30/2005
Return: 5.03 % Date: 5/31/2005
Return: 1.21 % Date: 4/30/2005
Return: -2.39 % Date: 3/31/2005
Return: 4.68 % Date: 2/28/2005
Return: 2.69 % Date: 1/31/2005
Return: -9.11 % Date: 12/31/2004
Return: 3.94 % Date: 11/30/2004
Return: 8.47 % Date: 10/31/2004
Return: 0.54 % Date: 9/30/2004
Return: 0.23 % Date: 8/31/2004
Return: -7.80 % Date: 7/31/2004
Return: 2.34 % Date: 6/30/2004
Return: -10.31 % Date: 5/31/2004
Return: -2.53 % Date: 4/30/2004
Return: 0.16 % Date: 3/31/2004
Return: 0.22 % Date: 2/29/2004
Return: 4.30 % Date: 1/31/2004
Return: -6.84 % Date: 12/31/2003
Return: 7.45 % Date: 11/30/2003
Return: 0.99 % Date: 10/31/2003
Return: -3.14 % Date: 9/30/2003
Return: 0.77 % Date: 8/31/2003
Return: -7.73 % Date: 7/31/2003
Return: -5.45 % Date: 6/30/2003
Return: -4.04 % Date: 5/31/2003
Return: 10.77 % Date: 4/30/2003
Return: 5.84 % Date: 3/31/2003
Return: 3.53 % Date: 2/28/2003
Return: -2.55 % Date: 1/31/2003
Return: 7.66 % Date: 12/31/2002
Return: 6.11 % Date: 11/30/2002
Return: 1.04 % Date: 10/31/2002
Return: -0.60 % Date: 9/30/2002
Return: -0.19 % Date: 8/31/2002
Return: -1.95 % Date: 7/31/2002
Return: -0.79 % Date: 6/30/2002
Return: 8.38 % Date: 5/31/2002
Return: 7.97 % Date: 4/30/2002
Return: -0.18 % Date: 3/31/2002
Return: -4.76 % Date: 2/28/2002
Return: -1.86 % Date: 1/31/2002
Return: 2.65 % Date: 12/31/2001
Return: 13.19 % Date: 11/30/2001
Return: -1.30 % Date: 10/31/2001
Return: 0.75 % Date: 9/30/2001
Return: -7.30 % Date: 8/31/2001
Return: 4.20 % Date: 7/31/2001
Return: 0.03 % Date: 6/30/2001
Return: 2.73 % Date: 5/31/2001
Return: -1.54 % Date: 4/30/2001
Return: -3.73 % Date: 3/31/2001
Return: 11.90 % Date: 2/28/2001
Return: 0.60 % Date: 1/31/2001
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 01/01 - 04/19
Return: 9.00 %
Count: 3 Return: 10.00 %
Count: 2 Return: -6.00 %
Count: 5 Return: 5.00 %
Count: 7 Return: -9.00 %
Count: 1 Return: 2.00 %
Count: 20 Return: -10.00 %
Count: 1 Return: 7.00 %
Count: 7 Return: -8.00 %
Count: 5 Return: 11.00 %
Count: 1 Return: -3.00 %
Count: 12 Return: 6.00 %
Count: 5 Return: 8.00 %
Count: 6 Return: -5.00 %
Count: 10 Return: 13.00 %
Count: 2 Return: -1.00 %
Count: 15 Return: -7.00 %
Count: 5 Return: 4.00 %
Count: 19 Return: 3.00 %
Count: 12 Return: -2.00 %
Count: 21 Return: -4.00 %
Count: 13 Return: 12.00 %
Count: 1 Return: 1.00 %
Count: 19 Return: 0.00 %
Count: 28
Note: All performance data is since program inception.

Underwater Curve

Date Range: 01/01 - 04/19
Date: 4/30/2019
Drawdown: -20.22 % Date: 3/31/2019
Drawdown: -19.98 % Date: 2/28/2019
Drawdown: -18.76 % Date: 1/31/2019
Drawdown: -14.45 % Date: 12/31/2018
Drawdown: -13.38 % Date: 11/30/2018
Drawdown: -17.48 % Date: 10/31/2018
Drawdown: -11.92 % Date: 9/30/2018
Drawdown: -14.32 % Date: 8/31/2018
Drawdown: -13.17 % Date: 7/31/2018
Drawdown: -13.22 % Date: 6/30/2018
Drawdown: -10.15 % Date: 5/31/2018
Drawdown: -7.98 % Date: 4/30/2018
Drawdown: -6.16 % Date: 3/31/2018
Drawdown: -5.81 % Date: 2/28/2018
Drawdown: -0.91 % Date: 1/31/2018
Drawdown: -3.04 % Date: 12/31/2017
Drawdown: -5.24 % Date: 11/30/2017
Drawdown: -6.89 % Date: 10/31/2017
Drawdown: -9.03 % Date: 9/30/2017
Drawdown: -6.46 % Date: 8/31/2017
Drawdown: -8.49 % Date: 7/31/2017
Drawdown: -6.24 % Date: 6/30/2017
Drawdown: -12.64 % Date: 5/31/2017
Drawdown: -14.57 % Date: 4/30/2017
Drawdown: -16.87 % Date: 3/31/2017
Drawdown: -15.99 % Date: 2/28/2017
Drawdown: -12.63 % Date: 1/31/2017
Drawdown: -15.92 % Date: 12/31/2016
Drawdown: -13.89 % Date: 11/30/2016
Drawdown: -13.42 % Date: 10/31/2016
Drawdown: -11.47 % Date: 9/30/2016
Drawdown: -10.98 % Date: 8/31/2016
Drawdown: -5.05 % Date: 7/31/2016
Drawdown: -3.71 % Date: 6/30/2016
Drawdown: -2.35 % Date: 5/31/2016
Drawdown: -3.56 % Date: 4/30/2016
Drawdown: -4.70 % Date: 3/31/2016
Drawdown: -7.51 % Date: 2/29/2016
Drawdown: -3.08 % Date: 1/31/2016
Drawdown: -6.82 % Date: 12/31/2015
Drawdown: -11.03 % Date: 11/30/2015
Drawdown: -5.95 % Date: 10/31/2015
Drawdown: -9.90 % Date: 9/30/2015
Drawdown: -6.91 % Date: 8/31/2015
Drawdown: -1.99 % Date: 7/31/2015
Drawdown: -1.81 % Date: 6/30/2015
Drawdown: -4.36 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: -0.45 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: -0.73 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -4.03 % Date: 10/31/2014
Drawdown: -6.32 % Date: 9/30/2014
Drawdown: -12.10 % Date: 8/31/2014
Drawdown: -22.08 % Date: 7/31/2014
Drawdown: -21.80 % Date: 6/30/2014
Drawdown: -19.88 % Date: 5/31/2014
Drawdown: -18.52 % Date: 4/30/2014
Drawdown: -15.09 % Date: 3/31/2014
Drawdown: -11.73 % Date: 2/28/2014
Drawdown: -7.79 % Date: 1/31/2014
Drawdown: -5.50 % Date: 12/31/2013
Drawdown: 0.00 % Date: 11/30/2013
Drawdown: -1.44 % Date: 10/31/2013
Drawdown: -8.42 % Date: 9/30/2013
Drawdown: -9.67 % Date: 8/31/2013
Drawdown: -12.47 % Date: 7/31/2013
Drawdown: -9.18 % Date: 6/30/2013
Drawdown: -9.48 % Date: 5/31/2013
Drawdown: -10.22 % Date: 4/30/2013
Drawdown: -8.79 % Date: 3/31/2013
Drawdown: -7.24 % Date: 2/28/2013
Drawdown: -14.59 % Date: 1/31/2013
Drawdown: -13.63 % Date: 12/31/2012
Drawdown: -13.48 % Date: 11/30/2012
Drawdown: -17.08 % Date: 10/31/2012
Drawdown: -19.49 % Date: 9/30/2012
Drawdown: -16.85 % Date: 8/31/2012
Drawdown: -12.91 % Date: 7/31/2012
Drawdown: -7.70 % Date: 6/30/2012
Drawdown: -16.41 % Date: 5/31/2012
Drawdown: -19.51 % Date: 4/30/2012
Drawdown: -21.29 % Date: 3/31/2012
Drawdown: -18.43 % Date: 2/29/2012
Drawdown: -11.35 % Date: 1/31/2012
Drawdown: -8.89 % Date: 12/31/2011
Drawdown: -10.19 % Date: 11/30/2011
Drawdown: -15.86 % Date: 10/31/2011
Drawdown: -16.47 % Date: 9/30/2011
Drawdown: -13.20 % Date: 8/31/2011
Drawdown: -10.14 % Date: 7/31/2011
Drawdown: -6.63 % Date: 6/30/2011
Drawdown: -14.18 % Date: 5/31/2011
Drawdown: -7.92 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -1.65 % Date: 2/28/2011
Drawdown: 0.00 % Date: 1/31/2011
Drawdown: -3.44 % Date: 12/31/2010
Drawdown: -0.41 % Date: 11/30/2010
Drawdown: 0.00 % Date: 10/31/2010
Drawdown: -0.89 % Date: 9/30/2010
Drawdown: -0.57 % Date: 8/31/2010
Drawdown: -1.48 % Date: 7/31/2010
Drawdown: 0.00 % Date: 6/30/2010
Drawdown: 0.00 % Date: 5/31/2010
Drawdown: -0.08 % Date: 4/30/2010
Drawdown: -0.67 % Date: 3/31/2010
Drawdown: 0.00 % Date: 2/28/2010
Drawdown: -1.19 % Date: 1/31/2010
Drawdown: -1.66 % Date: 12/31/2009
Drawdown: -3.40 % Date: 11/30/2009
Drawdown: -7.08 % Date: 10/31/2009
Drawdown: -8.57 % Date: 9/30/2009
Drawdown: -8.96 % Date: 8/31/2009
Drawdown: -6.31 % Date: 7/31/2009
Drawdown: -2.13 % Date: 6/30/2009
Drawdown: -6.86 % Date: 5/31/2009
Drawdown: -2.02 % Date: 4/30/2009
Drawdown: -2.49 % Date: 3/31/2009
Drawdown: -5.58 % Date: 2/28/2009
Drawdown: -7.78 % Date: 1/31/2009
Drawdown: -8.32 % Date: 12/31/2008
Drawdown: -12.61 % Date: 11/30/2008
Drawdown: -12.99 % Date: 10/31/2008
Drawdown: -11.73 % Date: 9/30/2008
Drawdown: -14.72 % Date: 8/31/2008
Drawdown: -16.36 % Date: 7/31/2008
Drawdown: -10.43 % Date: 6/30/2008
Drawdown: -4.42 % Date: 5/31/2008
Drawdown: -4.29 % Date: 4/30/2008
Drawdown: 0.00 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: -0.39 % Date: 12/31/2007
Drawdown: -2.48 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: 0.00 % Date: 8/31/2007
Drawdown: -1.40 % Date: 7/31/2007
Drawdown: -2.55 % Date: 6/30/2007
Drawdown: -2.59 % Date: 5/31/2007
Drawdown: -2.41 % Date: 4/30/2007
Drawdown: -6.30 % Date: 3/31/2007
Drawdown: -6.70 % Date: 2/28/2007
Drawdown: -8.19 % Date: 1/31/2007
Drawdown: 0.00 % Date: 12/31/2006
Drawdown: 0.00 % Date: 11/30/2006
Drawdown: 0.00 % Date: 10/31/2006
Drawdown: -9.10 % Date: 9/30/2006
Drawdown: -7.02 % Date: 8/31/2006
Drawdown: -1.24 % Date: 7/31/2006
Drawdown: -8.61 % Date: 6/30/2006
Drawdown: -6.31 % Date: 5/31/2006
Drawdown: -9.37 % Date: 4/30/2006
Drawdown: -11.18 % Date: 3/31/2006
Drawdown: -12.47 % Date: 2/28/2006
Drawdown: -5.90 % Date: 1/31/2006
Drawdown: -3.24 % Date: 12/31/2005
Drawdown: -7.69 % Date: 11/30/2005
Drawdown: -5.72 % Date: 10/31/2005
Drawdown: -11.79 % Date: 9/30/2005
Drawdown: -16.80 % Date: 8/31/2005
Drawdown: -16.61 % Date: 7/31/2005
Drawdown: -14.86 % Date: 6/30/2005
Drawdown: -17.83 % Date: 5/31/2005
Drawdown: -21.77 % Date: 4/30/2005
Drawdown: -22.70 % Date: 3/31/2005
Drawdown: -20.81 % Date: 2/28/2005
Drawdown: -24.35 % Date: 1/31/2005
Drawdown: -26.33 % Date: 12/31/2004
Drawdown: -18.95 % Date: 11/30/2004
Drawdown: -22.02 % Date: 10/31/2004
Drawdown: -28.11 % Date: 9/30/2004
Drawdown: -28.50 % Date: 8/31/2004
Drawdown: -28.66 % Date: 7/31/2004
Drawdown: -22.63 % Date: 6/30/2004
Drawdown: -24.40 % Date: 5/31/2004
Drawdown: -15.70 % Date: 4/30/2004
Drawdown: -13.52 % Date: 3/31/2004
Drawdown: -13.65 % Date: 2/29/2004
Drawdown: -13.84 % Date: 1/31/2004
Drawdown: -17.40 % Date: 12/31/2003
Drawdown: -11.33 % Date: 11/30/2003
Drawdown: -17.48 % Date: 10/31/2003
Drawdown: -18.29 % Date: 9/30/2003
Drawdown: -15.64 % Date: 8/31/2003
Drawdown: -16.28 % Date: 7/31/2003
Drawdown: -9.27 % Date: 6/30/2003
Drawdown: -4.04 % Date: 5/31/2003
Drawdown: 0.00 % Date: 4/30/2003
Drawdown: 0.00 % Date: 3/31/2003
Drawdown: 0.00 % Date: 2/28/2003
Drawdown: -2.55 % Date: 1/31/2003
Drawdown: 0.00 % Date: 12/31/2002
Drawdown: 0.00 % Date: 11/30/2002
Drawdown: -2.49 % Date: 10/31/2002
Drawdown: -3.49 % Date: 9/30/2002
Drawdown: -2.91 % Date: 8/31/2002
Drawdown: -2.72 % Date: 7/31/2002
Drawdown: -0.79 % Date: 6/30/2002
Drawdown: 0.00 % Date: 5/31/2002
Drawdown: 0.00 % Date: 4/30/2002
Drawdown: -6.70 % Date: 3/31/2002
Drawdown: -6.53 % Date: 2/28/2002
Drawdown: -1.86 % Date: 1/31/2002
Drawdown: 0.00 % Date: 12/31/2001
Drawdown: 0.00 % Date: 11/30/2001
Drawdown: -7.82 % Date: 10/31/2001
Drawdown: -6.60 % Date: 9/30/2001
Drawdown: -7.30 % Date: 8/31/2001
Drawdown: 0.00 % Date: 7/31/2001
Drawdown: -2.60 % Date: 6/30/2001
Drawdown: -2.62 % Date: 5/31/2001
Drawdown: -5.21 % Date: 4/30/2001
Drawdown: -3.73 % Date: 3/31/2001
Drawdown: 0.00 % Date: 2/28/2001
Drawdown: 0.00 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Alder Capital DAC
Address: 61 Merrion Square
City: Dublin
State:
Zip:
Country: Ireland

Key People

Name:  Mark Caslin
Position:  Principal
Biography: 

Mark Caslin is the managing director of Alder Capital and has over fourteen years experience in the development and operation of systematic currency direction and risk models. In July 1991, Mark Caslin was appointed as General Manager and Head of Research at Beacon Systems Limited (‘Beacon’). Beacon was a sister company of Gaiacorp Ireland Limited (‘Gaiacorp’). Beacon provided the 100% systematic trading process used by Gaiacorp in its fund management business. On 1st January 1995, a completely new currency trading model for the Gaiacorp-Beacon group went live; this model had been researched and developed exclusively by Mark Caslin. Mark continued to be responsible for the research and development of this trading system until he left Beacon at the end of April 1999. In May 2000, Mark Caslin set up Alder Capital with Brian McCarthy. Mark has written a number of articles on various aspects of currency risk all of which are available on Alder Capital’s website. He is both an Entrance Exhibitioner and a Scholar of Trinity College Dublin from which he holds a B.A. Mod. in Mathematical Sciences.


Name:  Brian McCarthy
Position:  Principal
Biography: 

Brian McCarthy is an executive director of Alder Capital having founded the company with Mark Caslin in May 2000. Prior to setting up Alder Capital, Brian McCarthy worked for Gaiacorp Ireland Limited as the trading room manager having joined the company in September 1994. From January 1995 to August 1999, Brian’s role was to execute the trades output by the model developed by Mark Caslin at Beacon Systems Limited. Brian acted as a client relationship manager for Gaiacorp from September 1999 until he left the company in December 1999. In 1991, Brian graduated from University College Dublin with a Masters Degree in Economic Science.


Name:  Patrick Caslin
Position:  Principal
Biography: 

Patrick Caslin is a non-executive director of Alder Capital. Patrick does not take part in any trading or operational activities of Alder Capital nor does he actively market Alder’s services. Since July 2002, Patrick has been an executive director of Douglas Wallace Architects and Designers Limited. He is also a director of Woodgate Developments Limited, a company owned by him providing property development services. He was the CEO of the Cunningham Group – a property development company - from March 2001 until April 2002. From September 1997 to February 2001, Patrick was a Property Development Manager with Dunloe Ewart plc, also a property company. Patrick was the Chief Financial Officer with Monarch Properties from 1991 until their merger with Dunloe Ewart plc in September 1997. Patrick graduated from University College Dublin with a Bachelors Degree in Commerce and a Diploma in Professional Accounting. He is a Fellow of the Institute of Chartered Accountants in Ireland.


Name:  Dick Spring
Position:  Principal
Biography: 

Dick Spring is a non-executive director of Alder Capital. Dick was a member of Dail Eireann (Irish Parliament) from 1981 to 2002, during which time he served as Leader of the Labour Party, Deputy Prime Minister and Minister for Foreign Affairs. Dick is a graduate of Trinity College, Dublin and King’s Inns. He is executive vice-chairman of FEXCO and chairman and director of a number of companies. Mr. Spring does not take part in any trading or operational activities of Alder Capital nor does he actively market Alder Capital’s services.


Name:  Peter Caslin
Position:  Principal
Biography: 

Peter Caslin is a non-executive director of Alder Capital. Peter does not partake in any trading or operational activities of Alder nor does he actively market Alder’s services. Peter is an Executive Director of Financial Risk Solutions an Actuarial Consultancy firm, which he set up in November 1999. Peter holds the statutory position of “appointed actuary” to a number of Irish life assurance companies. Prior to setting up Financial Risk Solutions he was a Financial Planning Manager with Irish Progressive Life Assurance Company which he joined in 1983. Peter is a Fellow of the Institute of Actuaries, holds an MSc. in Financial Mathematics from Dublin City University and a B.A. Mod. in Pure Mathematics from Trinity College Dublin. Peter is also an Entrance Exhibitioner of Trinity College Dublin.


Name:  John Caslin
Position:  Director
Biography: 

John Caslin is an executive director of Alder Capital having joined the firm in September 2003 from Eagle Star Life Assurance Company of Ireland (ultimate parent Zurich Financial Services) where he held the position of General Manager Investment & Financial Solutions, was a member of the senior management team and a member of the Investment Committee of the board of Eagle Star Life Assurance Company of Ireland which, at that time, oversaw the management of a portfolio of assets of approximately US$3.0 billion. John joined Eagle Star Life Assurance Company of Ireland in January 1991. He is a Fellow of the Institute of Actuaries and a Fellow of the Society of Actuaries in Ireland. John is a former Chairman of the Education Committee and of the Investment & Finance Committee of the Society of Actuaries in Ireland. John’s name has been entered in the Prizes’ Book of the Institute of Actuaries for two papers one of which was entitled Hedge Funds. He has written several articles on both traditional and alternative investments and his work has been published in the Alternative Investment Management Association Newsletter/Journal and the British Actuarial Journal. John is a non-executive director of iShares plc a Dublin-domiciled exchange traded fund which, at 31st August 2006, had more had US$12.6bn in assets under management, is quoted on several stock exchanges throughout Europe and is authorised and regulated by the Irish Financial Services Regulatory Authority. In 1981, Trinity College Dublin awarded John a degree in mathematics and a first class honours degree and gold medal in engineering.


Name:  Ceall O’Dunlaing
Position:  Principal
Biography: 

Ceall O’Dunlaing, F.I.A. F.S.A.I., is a director of Financial Risk Solutions Limited which is one of the leading providers of investment administration software to the life and pensions industry in Europe. The software is built by actuaries and IT professionals who understand the life and pensions industry. Mr. O’Dunlaing worked as an actuarial assistant in Irish Progressive Life Assurance Company from 1989 to 1995. He was involved with actuarial product development with Irish Progressive from 1995 until 1998 and worked as the valuation actuary with Irish Progressive from 1998 until 1999. He became the Pricing Actuary for Irish Life Assurance plc in February 1999 and he left this position in November 1999 to become a founding director of Financial Risk Solutions Limited. Mr. O’Dunlaing is a Fellow of the Institute of Actuaries, London and a Fellow of the Society of Actuaries in Ireland. Mr. O’Dunlaing does not take part in any trading or operational activities of Alder Capital nor does he actively market Alder Capital’s services.


Additional Information

 Futures Sectors Traded
 Currencies Yes 
 Investment Methodology
 Technical Yes 
 Trend Following Yes 
 Systematic Yes 
 Sector Specialist Yes 
 Other Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Short Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $5,000,000 
 Margin / Equity Ratio: 10% 
 Managed Account Availability: Open