Paskewitz Asset Management, LLC

Contrarian 3X Stock Index Program


Monthly Performance (%)

Date Range: 11/03 - 04/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 1.35 -1.15 1.79 -0.78   1.18 
2018 -2.49 -2.83 -4.17 2.94 1.49 -0.89 -0.03 1.02 0.74 -14.07 3.54 -4.93  -19.09 
2017 1.02 -1.83 1.51 0.31 1.55 0.50 -0.13 1.46 0.38 -0.66 0.54 -0.05  4.64 
2016 -6.79 2.13 -1.00 1.92 0.50 3.64 -0.36 1.88 3.10 -0.18 -0.24 -0.55  3.70 
2015 4.24 0.96 2.92 1.09 1.70 0.46 3.15 -5.34 0.79 -1.37 -0.62 4.42  12.68 
2014 0.16 -1.71 2.61 4.02 0.35 -0.22 -0.47 0.12 2.07 -2.20 -1.77 -0.44  2.36 
2013 -4.89 4.79 -1.00 6.20 -3.97 2.00 -9.11 -1.50 -4.04 2.53 1.31 2.51  -6.11 
2012 -2.91 -1.54 2.83 3.06 -4.36 4.14 1.80 -0.20 -0.52 1.52 0.74 1.70  6.07 
2011 1.54 3.03 -1.38 -2.72 5.54 1.62 -0.07 -14.79 10.04 -0.08 1.26 5.84  8.01 
2010 -2.02 4.47 -12.18 3.34 2.13 0.00 10.13 -0.28 -7.45 2.64 0.55 -6.32  -6.77 
2009 2.25 -1.81 -0.63 2.15 1.87 0.22 -5.52 2.67 -0.90 0.41 0.98 1.59  3.03 
2008 -8.41 7.34 2.35 8.54 4.66 -6.12 4.20 1.93 9.99 -2.71 3.49 4.88  32.38 
2007 4.56 -7.81 -3.09 -0.72 8.41 5.73 -6.60 22.86 0.55 -1.29 7.17 7.28  39.20 
2006 0.38 2.09 4.85 8.59 -3.95 1.82 2.84 3.08 5.29 -1.98 9.92 1.28  38.98 
2005 2.19 3.32 -1.23 1.24 2.88 1.11 -0.73 2.91 1.45 -0.08 -2.11 2.44  14.05 
2004 0.61 2.87 2.66 3.54 -1.75 2.82 0.76 2.63 -0.53 4.54 -4.09 2.34  17.30 
2003 -0.14  -0.14 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The fully-systematic contrarian program employs multiple models to forecast short and intermediate term tops and bottoms in the S&P 500 index, and then simultaneously generate trades, buying identified bottoms, and selling identified tops. The trading portfolio represents the net outcomes of the predictive sub-models. For example, if 2 of the sub-models wanted to buy, and 1 wanted to short, then the portfolio trade would be to “buy 1 unit”, since the other buy and simultaneous short signals would be cancelled out. Risk control is both pro-active and reactive. Pro-active risk controls include limits on leverage and scaling of positions appropriate to investor volatility and return objectives. Typical exposure is approximately 1:1, maximum exposure is approximately 2.2x and at times, the strategy can be completely out of the market. Pro-active risk control is further provided by strategy diversification. Reactive risk controls include a stop loss on positions to assure that catastrophic losses are limited. The worst case scenario for this strategy is that an adverse large price gap occurs subsequent to the portfolio putting on a maximum exposure position. This trading program targets net performance of 20% annually with volatility of 15-20%. It has an average holding period of 6 trading days. It has extremely high liquidity due to the high daily trading volume of the S&P 500 futures, and estimated capacity of $2 billion.

Performance Statistics

Date Range: 11/03 - 04/19
  Program S&P 500 Altegris 40 
Total Return 262.15% 285.61% 55.13% 
Annualized Return 8.71% 9.10% 2.87% 
Annualized Std. Deviation 14.54% 13.44% 9.04% 
Correlation 0.05 -0.04 
Sharpe Ratio (rf=2.5%) 0.43 0.49 0.04 
Worst Month -14.79% -16.79% -6.22% 
Date of Worst Month 08/2011 10/2008 04/2004 
Worst Drawdown -19.23% -50.95% -15.74% 
Date of Worst Drawdown 9/17 - 12/18 10/07 - 2/09 4/11 - 9/13 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 11/03 - 04/19

Year or YTD Program S&P 500 Altegris 40 
2019 1.18 18.24 5.17 
2018 -19.09 -4.38 -4.29 
2017 4.64 21.84 1.24 
2016 3.70 11.98 -3.13 
2015 12.68 1.41 0.09 
2014 2.36 13.69 15.75 
2013 -6.11 32.41 -2.45 
2012 6.07 15.98 -4.75 
2011 8.01 2.12 -3.23 
2010 -6.77 15.06 11.33 
2009 3.03 26.45 -7.98 
2008 32.38 -36.99 15.47 
2007 39.20 5.50 7.18 
2006 38.98 15.79 6.70 
2005 14.05 4.89 4.51 
2004 17.30 10.87 2.57 
2003 -0.14 5.24 4.33 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 11/03 - 04/19
Date: 4/30/2019
Perf: $1,556.00 Date: 3/31/2019
Perf: $1,514.36 Date: 2/28/2019
Perf: $1,461.88 Date: 1/31/2019
Perf: $1,452.58 Date: 12/31/2018
Perf: $1,479.51 Date: 11/30/2018
Perf: $1,473.32 Date: 10/31/2018
Perf: $1,491.21 Date: 9/30/2018
Perf: $1,528.98 Date: 8/31/2018
Perf: $1,535.89 Date: 7/31/2018
Perf: $1,497.70 Date: 6/30/2018
Perf: $1,509.02 Date: 5/31/2018
Perf: $1,496.45 Date: 4/30/2018
Perf: $1,516.00 Date: 3/31/2018
Perf: $1,499.81 Date: 2/28/2018
Perf: $1,501.16 Date: 1/31/2018
Perf: $1,598.68 Date: 12/31/2017
Perf: $1,545.81 Date: 11/30/2017
Perf: $1,529.14 Date: 10/31/2017
Perf: $1,527.16 Date: 9/30/2017
Perf: $1,465.74 Date: 8/31/2017
Perf: $1,497.34 Date: 7/31/2017
Perf: $1,472.89 Date: 6/30/2017
Perf: $1,467.16 Date: 5/31/2017
Perf: $1,511.29 Date: 4/30/2017
Perf: $1,508.43 Date: 3/31/2017
Perf: $1,517.53 Date: 2/28/2017
Perf: $1,540.02 Date: 1/31/2017
Perf: $1,507.16 Date: 12/31/2016
Perf: $1,526.86 Date: 11/30/2016
Perf: $1,515.34 Date: 10/31/2016
Perf: $1,532.19 Date: 9/30/2016
Perf: $1,572.77 Date: 8/31/2016
Perf: $1,593.33 Date: 7/31/2016
Perf: $1,637.37 Date: 6/30/2016
Perf: $1,620.84 Date: 5/31/2016
Perf: $1,554.76 Date: 4/30/2016
Perf: $1,582.45 Date: 3/31/2016
Perf: $1,623.20 Date: 2/29/2016
Perf: $1,671.16 Date: 1/31/2016
Perf: $1,631.04 Date: 12/31/2015
Perf: $1,576.18 Date: 11/30/2015
Perf: $1,613.29 Date: 10/31/2015
Perf: $1,560.09 Date: 9/30/2015
Perf: $1,587.72 Date: 8/31/2015
Perf: $1,554.00 Date: 7/31/2015
Perf: $1,581.35 Date: 6/30/2015
Perf: $1,521.85 Date: 5/31/2015
Perf: $1,605.33 Date: 4/30/2015
Perf: $1,616.97 Date: 3/31/2015
Perf: $1,681.89 Date: 2/28/2015
Perf: $1,645.52 Date: 1/31/2015
Perf: $1,648.16 Date: 12/31/2014
Perf: $1,574.77 Date: 11/30/2014
Perf: $1,547.54 Date: 10/31/2014
Perf: $1,460.63 Date: 9/30/2014
Perf: $1,439.47 Date: 8/31/2014
Perf: $1,418.34 Date: 7/31/2014
Perf: $1,360.78 Date: 6/30/2014
Perf: $1,371.75 Date: 5/31/2014
Perf: $1,360.05 Date: 4/30/2014
Perf: $1,326.11 Date: 3/31/2014
Perf: $1,316.10 Date: 2/28/2014
Perf: $1,335.87 Date: 1/31/2014
Perf: $1,325.01 Date: 12/31/2013
Perf: $1,360.52 Date: 11/30/2013
Perf: $1,362.43 Date: 10/31/2013
Perf: $1,338.20 Date: 9/30/2013
Perf: $1,308.25 Date: 8/31/2013
Perf: $1,316.14 Date: 7/31/2013
Perf: $1,341.91 Date: 6/30/2013
Perf: $1,353.68 Date: 5/31/2013
Perf: $1,407.01 Date: 4/30/2013
Perf: $1,470.23 Date: 3/31/2013
Perf: $1,433.25 Date: 2/28/2013
Perf: $1,412.91 Date: 1/31/2013
Perf: $1,421.15 Date: 12/31/2012
Perf: $1,394.65 Date: 11/30/2012
Perf: $1,387.85 Date: 10/31/2012
Perf: $1,383.97 Date: 9/30/2012
Perf: $1,435.96 Date: 8/31/2012
Perf: $1,460.05 Date: 7/31/2012
Perf: $1,480.18 Date: 6/30/2012
Perf: $1,422.02 Date: 5/31/2012
Perf: $1,477.57 Date: 4/30/2012
Perf: $1,450.02 Date: 3/31/2012
Perf: $1,441.38 Date: 2/29/2012
Perf: $1,474.85 Date: 1/31/2012
Perf: $1,468.83 Date: 12/31/2011
Perf: $1,464.15 Date: 11/30/2011
Perf: $1,450.22 Date: 10/31/2011
Perf: $1,445.89 Date: 9/30/2011
Perf: $1,505.51 Date: 8/31/2011
Perf: $1,506.41 Date: 7/31/2011
Perf: $1,509.43 Date: 6/30/2011
Perf: $1,457.12 Date: 5/31/2011
Perf: $1,496.01 Date: 4/30/2011
Perf: $1,552.69 Date: 3/31/2011
Perf: $1,494.40 Date: 2/28/2011
Perf: $1,517.62 Date: 1/31/2011
Perf: $1,492.26 Date: 12/31/2010
Perf: $1,512.98 Date: 11/30/2010
Perf: $1,450.75 Date: 10/31/2010
Perf: $1,503.99 Date: 9/30/2010
Perf: $1,447.81 Date: 8/31/2010
Perf: $1,421.93 Date: 7/31/2010
Perf: $1,365.41 Date: 6/30/2010
Perf: $1,383.25 Date: 5/31/2010
Perf: $1,378.01 Date: 4/30/2010
Perf: $1,412.19 Date: 3/31/2010
Perf: $1,390.77 Date: 2/28/2010
Perf: $1,337.67 Date: 1/31/2010
Perf: $1,325.21 Date: 12/31/2009
Perf: $1,359.05 Date: 11/30/2009
Perf: $1,415.68 Date: 10/31/2009
Perf: $1,360.83 Date: 9/30/2009
Perf: $1,396.59 Date: 8/31/2009
Perf: $1,364.12 Date: 7/31/2009
Perf: $1,359.63 Date: 6/30/2009
Perf: $1,361.13 Date: 5/31/2009
Perf: $1,398.33 Date: 4/30/2009
Perf: $1,379.29 Date: 3/31/2009
Perf: $1,425.92 Date: 2/28/2009
Perf: $1,466.54 Date: 1/31/2009
Perf: $1,467.28 Date: 12/31/2008
Perf: $1,476.88 Date: 11/30/2008
Perf: $1,439.87 Date: 10/31/2008
Perf: $1,388.90 Date: 9/30/2008
Perf: $1,320.87 Date: 8/31/2008
Perf: $1,318.11 Date: 7/31/2008
Perf: $1,354.27 Date: 6/30/2008
Perf: $1,419.42 Date: 5/31/2008
Perf: $1,382.50 Date: 4/30/2008
Perf: $1,354.60 Date: 3/31/2008
Perf: $1,370.36 Date: 2/29/2008
Perf: $1,376.41 Date: 1/31/2008
Perf: $1,302.31 Date: 12/31/2007
Perf: $1,279.03 Date: 11/30/2007
Perf: $1,281.98 Date: 10/31/2007
Perf: $1,290.37 Date: 9/30/2007
Perf: $1,237.05 Date: 8/31/2007
Perf: $1,181.86 Date: 7/31/2007
Perf: $1,227.65 Date: 6/30/2007
Perf: $1,266.80 Date: 5/31/2007
Perf: $1,231.21 Date: 4/30/2007
Perf: $1,188.77 Date: 3/31/2007
Perf: $1,140.86 Date: 2/28/2007
Perf: $1,168.19 Date: 1/31/2007
Perf: $1,213.71 Date: 12/31/2006
Perf: $1,193.30 Date: 11/30/2006
Perf: $1,154.29 Date: 10/31/2006
Perf: $1,126.68 Date: 9/30/2006
Perf: $1,114.43 Date: 8/31/2006
Perf: $1,126.36 Date: 7/31/2006
Perf: $1,113.89 Date: 6/30/2006
Perf: $1,130.62 Date: 5/31/2006
Perf: $1,146.33 Date: 4/30/2006
Perf: $1,177.53 Date: 3/31/2006
Perf: $1,149.48 Date: 2/28/2006
Perf: $1,119.48 Date: 1/31/2006
Perf: $1,139.77 Date: 12/31/2005
Perf: $1,118.41 Date: 11/30/2005
Perf: $1,139.02 Date: 10/31/2005
Perf: $1,092.17 Date: 9/30/2005
Perf: $1,090.43 Date: 8/31/2005
Perf: $1,073.89 Date: 7/31/2005
Perf: $1,068.12 Date: 6/30/2005
Perf: $1,067.48 Date: 5/31/2005
Perf: $1,032.28 Date: 4/30/2005
Perf: $1,001.34 Date: 3/31/2005
Perf: $1,026.49 Date: 2/28/2005
Perf: $1,032.27 Date: 1/31/2005
Perf: $1,025.19 Date: 12/31/2004
Perf: $1,070.14 Date: 11/30/2004
Perf: $1,066.62 Date: 10/31/2004
Perf: $1,011.88 Date: 9/30/2004
Perf: $978.42 Date: 8/31/2004
Perf: $965.38 Date: 7/31/2004
Perf: $972.09 Date: 6/30/2004
Perf: $983.30 Date: 5/31/2004
Perf: $1,016.86 Date: 4/30/2004
Perf: $1,033.28 Date: 3/31/2004
Perf: $1,101.82 Date: 2/29/2004
Perf: $1,112.72 Date: 1/31/2004
Perf: $1,053.32 Date: 12/31/2003
Perf: $1,043.30 Date: 11/30/2003
Perf: $1,000.00 Date: 4/30/2019
Perf: $3,822.42 Date: 3/31/2019
Perf: $3,673.63 Date: 2/28/2019
Perf: $3,603.72 Date: 1/31/2019
Perf: $3,491.64 Date: 12/31/2018
Perf: $3,232.70 Date: 11/30/2018
Perf: $3,553.59 Date: 10/31/2018
Perf: $3,482.55 Date: 9/30/2018
Perf: $3,738.24 Date: 8/31/2018
Perf: $3,717.06 Date: 7/31/2018
Perf: $3,599.70 Date: 6/30/2018
Perf: $3,470.60 Date: 5/31/2018
Perf: $3,449.21 Date: 4/30/2018
Perf: $3,368.04 Date: 3/31/2018
Perf: $3,355.29 Date: 2/28/2018
Perf: $3,442.74 Date: 1/31/2018
Perf: $3,574.64 Date: 12/31/2017
Perf: $3,380.92 Date: 11/30/2017
Perf: $3,343.80 Date: 10/31/2017
Perf: $3,244.20 Date: 9/30/2017
Perf: $3,170.33 Date: 8/31/2017
Perf: $3,106.34 Date: 7/31/2017
Perf: $3,096.74 Date: 6/30/2017
Perf: $3,034.24 Date: 5/31/2017
Perf: $3,015.54 Date: 4/30/2017
Perf: $2,973.61 Date: 3/31/2017
Perf: $2,943.30 Date: 2/28/2017
Perf: $2,939.77 Date: 1/31/2017
Perf: $2,827.52 Date: 12/31/2016
Perf: $2,774.80 Date: 11/30/2016
Perf: $2,720.92 Date: 10/31/2016
Perf: $2,623.84 Date: 9/30/2016
Perf: $2,672.48 Date: 8/31/2016
Perf: $2,671.95 Date: 7/31/2016
Perf: $2,668.21 Date: 6/30/2016
Perf: $2,573.26 Date: 5/31/2016
Perf: $2,566.58 Date: 4/30/2016
Perf: $2,521.20 Date: 3/31/2016
Perf: $2,511.41 Date: 2/29/2016
Perf: $2,351.95 Date: 1/31/2016
Perf: $2,355.01 Date: 12/31/2015
Perf: $2,477.91 Date: 11/30/2015
Perf: $2,517.69 Date: 10/31/2015
Perf: $2,510.16 Date: 9/30/2015
Perf: $2,314.79 Date: 8/31/2015
Perf: $2,373.42 Date: 7/31/2015
Perf: $2,525.72 Date: 6/30/2015
Perf: $2,473.77 Date: 5/31/2015
Perf: $2,522.71 Date: 4/30/2015
Perf: $2,490.58 Date: 3/31/2015
Perf: $2,466.90 Date: 2/28/2015
Perf: $2,506.50 Date: 1/31/2015
Perf: $2,370.21 Date: 12/31/2014
Perf: $2,443.52 Date: 11/30/2014
Perf: $2,449.64 Date: 10/31/2014
Perf: $2,385.47 Date: 9/30/2014
Perf: $2,328.65 Date: 8/31/2014
Perf: $2,361.72 Date: 7/31/2014
Perf: $2,270.88 Date: 6/30/2014
Perf: $2,302.66 Date: 5/31/2014
Perf: $2,255.96 Date: 4/30/2014
Perf: $2,204.16 Date: 3/31/2014
Perf: $2,187.97 Date: 2/28/2014
Perf: $2,169.75 Date: 1/31/2014
Perf: $2,074.92 Date: 12/31/2013
Perf: $2,149.29 Date: 11/30/2013
Perf: $2,096.25 Date: 10/31/2013
Perf: $2,034.21 Date: 9/30/2013
Perf: $1,944.75 Date: 8/31/2013
Perf: $1,885.54 Date: 7/31/2013
Perf: $1,941.86 Date: 6/30/2013
Perf: $1,847.81 Date: 5/31/2013
Perf: $1,872.90 Date: 4/30/2013
Perf: $1,830.08 Date: 3/31/2013
Perf: $1,795.43 Date: 2/28/2013
Perf: $1,730.53 Date: 1/31/2013
Perf: $1,707.31 Date: 12/31/2012
Perf: $1,623.23 Date: 11/30/2012
Perf: $1,608.59 Date: 10/31/2012
Perf: $1,599.31 Date: 9/30/2012
Perf: $1,629.46 Date: 8/31/2012
Perf: $1,588.48 Date: 7/31/2012
Perf: $1,553.52 Date: 6/30/2012
Perf: $1,532.22 Date: 5/31/2012
Perf: $1,471.59 Date: 4/30/2012
Perf: $1,565.69 Date: 3/31/2012
Perf: $1,575.62 Date: 2/29/2012
Perf: $1,525.43 Date: 1/31/2012
Perf: $1,462.26 Date: 12/31/2011
Perf: $1,399.56 Date: 11/30/2011
Perf: $1,385.43 Date: 10/31/2011
Perf: $1,388.49 Date: 9/30/2011
Perf: $1,251.68 Date: 8/31/2011
Perf: $1,346.32 Date: 7/31/2011
Perf: $1,423.63 Date: 6/30/2011
Perf: $1,453.13 Date: 5/31/2011
Perf: $1,477.80 Date: 4/30/2011
Perf: $1,494.69 Date: 3/31/2011
Perf: $1,451.72 Date: 2/28/2011
Perf: $1,451.14 Date: 1/31/2011
Perf: $1,403.02 Date: 12/31/2010
Perf: $1,370.54 Date: 11/30/2010
Perf: $1,284.72 Date: 10/31/2010
Perf: $1,284.59 Date: 9/30/2010
Perf: $1,237.44 Date: 8/31/2010
Perf: $1,136.10 Date: 7/31/2010
Perf: $1,189.76 Date: 6/30/2010
Perf: $1,111.82 Date: 5/31/2010
Perf: $1,173.18 Date: 4/30/2010
Perf: $1,275.06 Date: 3/31/2010
Perf: $1,255.22 Date: 2/28/2010
Perf: $1,183.84 Date: 1/31/2010
Perf: $1,148.24 Date: 12/31/2009
Perf: $1,191.12 Date: 11/30/2009
Perf: $1,168.57 Date: 10/31/2009
Perf: $1,102.43 Date: 9/30/2009
Perf: $1,123.32 Date: 8/31/2009
Perf: $1,082.93 Date: 7/31/2009
Perf: $1,045.19 Date: 6/30/2009
Perf: $971.73 Date: 5/31/2009
Perf: $969.79 Date: 4/30/2009
Perf: $918.45 Date: 3/31/2009
Perf: $838.23 Date: 2/28/2009
Perf: $770.72 Date: 1/31/2009
Perf: $862.58 Date: 12/31/2008
Perf: $941.99 Date: 11/30/2008
Perf: $932.11 Date: 10/31/2008
Perf: $1,004.21 Date: 9/30/2008
Perf: $1,206.84 Date: 8/31/2008
Perf: $1,324.89 Date: 7/31/2008
Perf: $1,305.95 Date: 6/30/2008
Perf: $1,317.02 Date: 5/31/2008
Perf: $1,438.26 Date: 4/30/2008
Perf: $1,419.81 Date: 3/31/2008
Perf: $1,353.87 Date: 2/29/2008
Perf: $1,359.72 Date: 1/31/2008
Perf: $1,405.39 Date: 12/31/2007
Perf: $1,495.10 Date: 11/30/2007
Perf: $1,505.49 Date: 10/31/2007
Perf: $1,571.16 Date: 9/30/2007
Perf: $1,546.57 Date: 8/31/2007
Perf: $1,490.82 Date: 7/31/2007
Perf: $1,468.78 Date: 6/30/2007
Perf: $1,515.77 Date: 5/31/2007
Perf: $1,541.36 Date: 4/30/2007
Perf: $1,489.38 Date: 3/31/2007
Perf: $1,426.20 Date: 2/28/2007
Perf: $1,410.40 Date: 1/31/2007
Perf: $1,438.60 Date: 12/31/2006
Perf: $1,417.20 Date: 11/30/2006
Perf: $1,397.63 Date: 10/31/2006
Perf: $1,371.57 Date: 9/30/2006
Perf: $1,328.27 Date: 8/31/2006
Perf: $1,294.86 Date: 7/31/2006
Perf: $1,264.76 Date: 6/30/2006
Perf: $1,256.97 Date: 5/31/2006
Perf: $1,255.21 Date: 4/30/2006
Perf: $1,292.43 Date: 3/31/2006
Perf: $1,275.34 Date: 2/28/2006
Perf: $1,259.72 Date: 1/31/2006
Perf: $1,256.33 Date: 12/31/2005
Perf: $1,223.90 Date: 11/30/2005
Perf: $1,223.53 Date: 10/31/2005
Perf: $1,178.97 Date: 9/30/2005
Perf: $1,198.99 Date: 8/31/2005
Perf: $1,189.36 Date: 7/31/2005
Perf: $1,200.28 Date: 6/30/2005
Perf: $1,157.23 Date: 5/31/2005
Perf: $1,155.61 Date: 4/30/2005
Perf: $1,120.00 Date: 3/31/2005
Perf: $1,141.69 Date: 2/28/2005
Perf: $1,162.26 Date: 1/31/2005
Perf: $1,138.35 Date: 12/31/2004
Perf: $1,166.82 Date: 11/30/2004
Perf: $1,128.46 Date: 10/31/2004
Perf: $1,084.53 Date: 9/30/2004
Perf: $1,068.19 Date: 8/31/2004
Perf: $1,056.78 Date: 7/31/2004
Perf: $1,052.57 Date: 6/30/2004
Perf: $1,088.60 Date: 5/31/2004
Perf: $1,067.88 Date: 4/30/2004
Perf: $1,053.45 Date: 3/31/2004
Perf: $1,070.25 Date: 2/29/2004
Perf: $1,086.66 Date: 1/31/2004
Perf: $1,071.76 Date: 12/31/2003
Perf: $1,052.40 Date: 11/30/2003
Perf: $1,000.00 Date: 4/30/2019
Perf: $3,621.53 Date: 3/31/2019
Perf: $3,650.00 Date: 2/28/2019
Perf: $3,585.81 Date: 1/31/2019
Perf: $3,627.53 Date: 12/31/2018
Perf: $3,579.21 Date: 11/30/2018
Perf: $3,764.81 Date: 10/31/2018
Perf: $3,636.10 Date: 9/30/2018
Perf: $4,231.46 Date: 8/31/2018
Perf: $4,200.38 Date: 7/31/2018
Perf: $4,157.97 Date: 6/30/2018
Perf: $4,159.22 Date: 5/31/2018
Perf: $4,196.57 Date: 4/30/2018
Perf: $4,134.96 Date: 3/31/2018
Perf: $4,016.86 Date: 2/28/2018
Perf: $4,191.65 Date: 1/31/2018
Perf: $4,313.73 Date: 12/31/2017
Perf: $4,423.88 Date: 11/30/2017
Perf: $4,426.10 Date: 10/31/2017
Perf: $4,402.33 Date: 9/30/2017
Perf: $4,431.57 Date: 8/31/2017
Perf: $4,414.80 Date: 7/31/2017
Perf: $4,351.27 Date: 6/30/2017
Perf: $4,356.93 Date: 5/31/2017
Perf: $4,335.26 Date: 4/30/2017
Perf: $4,269.09 Date: 3/31/2017
Perf: $4,255.89 Date: 2/28/2017
Perf: $4,192.58 Date: 1/31/2017
Perf: $4,270.74 Date: 12/31/2016
Perf: $4,227.62 Date: 11/30/2016
Perf: $4,251.00 Date: 10/31/2016
Perf: $4,261.22 Date: 9/30/2016
Perf: $4,268.91 Date: 8/31/2016
Perf: $4,140.55 Date: 7/31/2016
Perf: $4,064.15 Date: 6/30/2016
Perf: $4,078.83 Date: 5/31/2016
Perf: $3,935.57 Date: 4/30/2016
Perf: $3,915.99 Date: 3/31/2016
Perf: $3,842.22 Date: 2/29/2016
Perf: $3,881.03 Date: 1/31/2016
Perf: $3,800.09 Date: 12/31/2015
Perf: $4,076.91 Date: 11/30/2015
Perf: $3,904.34 Date: 10/31/2015
Perf: $3,928.70 Date: 9/30/2015
Perf: $3,983.27 Date: 8/31/2015
Perf: $3,952.05 Date: 7/31/2015
Perf: $4,175.00 Date: 6/30/2015
Perf: $4,047.50 Date: 5/31/2015
Perf: $4,028.97 Date: 4/30/2015
Perf: $3,961.62 Date: 3/31/2015
Perf: $3,918.90 Date: 2/28/2015
Perf: $3,807.72 Date: 1/31/2015
Perf: $3,771.51 Date: 12/31/2014
Perf: $3,618.10 Date: 11/30/2014
Perf: $3,634.09 Date: 10/31/2014
Perf: $3,699.58 Date: 9/30/2014
Perf: $3,782.80 Date: 8/31/2014
Perf: $3,706.08 Date: 7/31/2014
Perf: $3,701.64 Date: 6/30/2014
Perf: $3,719.12 Date: 5/31/2014
Perf: $3,727.32 Date: 4/30/2014
Perf: $3,714.32 Date: 3/31/2014
Perf: $3,570.77 Date: 2/28/2014
Perf: $3,479.95 Date: 1/31/2014
Perf: $3,540.49 Date: 12/31/2013
Perf: $3,534.83 Date: 11/30/2013
Perf: $3,448.28 Date: 10/31/2013
Perf: $3,403.69 Date: 9/30/2013
Perf: $3,319.70 Date: 8/31/2013
Perf: $3,459.47 Date: 7/31/2013
Perf: $3,512.15 Date: 6/30/2013
Perf: $3,864.18 Date: 5/31/2013
Perf: $3,788.41 Date: 4/30/2013
Perf: $3,945.03 Date: 3/31/2013
Perf: $3,714.71 Date: 2/28/2013
Perf: $3,752.24 Date: 1/31/2013
Perf: $3,580.72 Date: 12/31/2012
Perf: $3,764.82 Date: 11/30/2012
Perf: $3,701.89 Date: 10/31/2012
Perf: $3,674.69 Date: 9/30/2012
Perf: $3,619.67 Date: 8/31/2012
Perf: $3,638.60 Date: 7/31/2012
Perf: $3,645.89 Date: 6/30/2012
Perf: $3,581.42 Date: 5/31/2012
Perf: $3,439.05 Date: 4/30/2012
Perf: $3,595.82 Date: 3/31/2012
Perf: $3,489.06 Date: 2/29/2012
Perf: $3,393.04 Date: 1/31/2012
Perf: $3,446.11 Date: 12/31/2011
Perf: $3,549.39 Date: 11/30/2011
Perf: $3,353.55 Date: 10/31/2011
Perf: $3,311.82 Date: 9/30/2011
Perf: $3,314.47 Date: 8/31/2011
Perf: $3,012.06 Date: 7/31/2011
Perf: $3,534.86 Date: 6/30/2011
Perf: $3,537.34 Date: 5/31/2011
Perf: $3,480.95 Date: 4/30/2011
Perf: $3,298.23 Date: 3/31/2011
Perf: $3,390.45 Date: 2/28/2011
Perf: $3,437.89 Date: 1/31/2011
Perf: $3,336.79 Date: 12/31/2010
Perf: $3,286.18 Date: 11/30/2010
Perf: $3,507.88 Date: 10/31/2010
Perf: $3,488.69 Date: 9/30/2010
Perf: $3,398.96 Date: 8/31/2010
Perf: $3,672.56 Date: 7/31/2010
Perf: $3,682.87 Date: 6/30/2010
Perf: $3,344.11 Date: 5/31/2010
Perf: $3,344.11 Date: 4/30/2010
Perf: $3,274.37 Date: 3/31/2010
Perf: $3,168.54 Date: 2/28/2010
Perf: $3,608.00 Date: 1/31/2010
Perf: $3,453.62 Date: 12/31/2009
Perf: $3,524.82 Date: 11/30/2009
Perf: $3,469.65 Date: 10/31/2009
Perf: $3,435.98 Date: 9/30/2009
Perf: $3,421.95 Date: 8/31/2009
Perf: $3,453.03 Date: 7/31/2009
Perf: $3,363.23 Date: 6/30/2009
Perf: $3,559.73 Date: 5/31/2009
Perf: $3,551.91 Date: 4/30/2009
Perf: $3,486.71 Date: 3/31/2009
Perf: $3,413.32 Date: 2/28/2009
Perf: $3,434.96 Date: 1/31/2009
Perf: $3,498.28 Date: 12/31/2008
Perf: $3,421.30 Date: 11/30/2008
Perf: $3,262.11 Date: 10/31/2008
Perf: $3,152.10 Date: 9/30/2008
Perf: $3,239.91 Date: 8/31/2008
Perf: $2,945.64 Date: 7/31/2008
Perf: $2,889.86 Date: 6/30/2008
Perf: $2,773.38 Date: 5/31/2008
Perf: $2,954.18 Date: 4/30/2008
Perf: $2,822.64 Date: 3/31/2008
Perf: $2,600.55 Date: 2/29/2008
Perf: $2,540.84 Date: 1/31/2008
Perf: $2,367.10 Date: 12/31/2007
Perf: $2,584.45 Date: 11/30/2007
Perf: $2,409.07 Date: 10/31/2007
Perf: $2,247.90 Date: 9/30/2007
Perf: $2,277.27 Date: 8/31/2007
Perf: $2,264.82 Date: 7/31/2007
Perf: $1,843.41 Date: 6/30/2007
Perf: $1,973.68 Date: 5/31/2007
Perf: $1,866.71 Date: 4/30/2007
Perf: $1,721.90 Date: 3/31/2007
Perf: $1,734.39 Date: 2/28/2007
Perf: $1,789.69 Date: 1/31/2007
Perf: $1,941.31 Date: 12/31/2006
Perf: $1,856.64 Date: 11/30/2006
Perf: $1,833.18 Date: 10/31/2006
Perf: $1,667.74 Date: 9/30/2006
Perf: $1,701.43 Date: 8/31/2006
Perf: $1,615.94 Date: 7/31/2006
Perf: $1,567.66 Date: 6/30/2006
Perf: $1,524.37 Date: 5/31/2006
Perf: $1,497.12 Date: 4/30/2006
Perf: $1,558.69 Date: 3/31/2006
Perf: $1,435.39 Date: 2/28/2006
Perf: $1,368.99 Date: 1/31/2006
Perf: $1,340.97 Date: 12/31/2005
Perf: $1,335.89 Date: 11/30/2005
Perf: $1,304.07 Date: 10/31/2005
Perf: $1,332.18 Date: 9/30/2005
Perf: $1,333.25 Date: 8/31/2005
Perf: $1,314.19 Date: 7/31/2005
Perf: $1,277.03 Date: 6/30/2005
Perf: $1,286.42 Date: 5/31/2005
Perf: $1,272.30 Date: 4/30/2005
Perf: $1,236.68 Date: 3/31/2005
Perf: $1,221.53 Date: 2/28/2005
Perf: $1,236.75 Date: 1/31/2005
Perf: $1,197.00 Date: 12/31/2004
Perf: $1,171.35 Date: 11/30/2004
Perf: $1,144.57 Date: 10/31/2004
Perf: $1,193.38 Date: 9/30/2004
Perf: $1,141.55 Date: 8/31/2004
Perf: $1,147.63 Date: 7/31/2004
Perf: $1,118.23 Date: 6/30/2004
Perf: $1,109.79 Date: 5/31/2004
Perf: $1,079.35 Date: 4/30/2004
Perf: $1,098.58 Date: 3/31/2004
Perf: $1,061.02 Date: 2/29/2004
Perf: $1,033.53 Date: 1/31/2004
Perf: $1,004.69 Date: 12/31/2003
Perf: $998.60 Date: 11/30/2003
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 11/03 - 04/19
Date: 4/30/2019
Return: -0.78 % Date: 3/31/2019
Return: 1.79 % Date: 2/28/2019
Return: -1.15 % Date: 1/31/2019
Return: 1.35 % Date: 12/31/2018
Return: -4.93 % Date: 11/30/2018
Return: 3.54 % Date: 10/31/2018
Return: -14.07 % Date: 9/30/2018
Return: 0.74 % Date: 8/31/2018
Return: 1.02 % Date: 7/31/2018
Return: -0.03 % Date: 6/30/2018
Return: -0.89 % Date: 5/31/2018
Return: 1.49 % Date: 4/30/2018
Return: 2.94 % Date: 3/31/2018
Return: -4.17 % Date: 2/28/2018
Return: -2.83 % Date: 1/31/2018
Return: -2.49 % Date: 12/31/2017
Return: -0.05 % Date: 11/30/2017
Return: 0.54 % Date: 10/31/2017
Return: -0.66 % Date: 9/30/2017
Return: 0.38 % Date: 8/31/2017
Return: 1.46 % Date: 7/31/2017
Return: -0.13 % Date: 6/30/2017
Return: 0.50 % Date: 5/31/2017
Return: 1.55 % Date: 4/30/2017
Return: 0.31 % Date: 3/31/2017
Return: 1.51 % Date: 2/28/2017
Return: -1.83 % Date: 1/31/2017
Return: 1.02 % Date: 12/31/2016
Return: -0.55 % Date: 11/30/2016
Return: -0.24 % Date: 10/31/2016
Return: -0.18 % Date: 9/30/2016
Return: 3.10 % Date: 8/31/2016
Return: 1.88 % Date: 7/31/2016
Return: -0.36 % Date: 6/30/2016
Return: 3.64 % Date: 5/31/2016
Return: 0.50 % Date: 4/30/2016
Return: 1.92 % Date: 3/31/2016
Return: -1.00 % Date: 2/29/2016
Return: 2.13 % Date: 1/31/2016
Return: -6.79 % Date: 12/31/2015
Return: 4.42 % Date: 11/30/2015
Return: -0.62 % Date: 10/31/2015
Return: -1.37 % Date: 9/30/2015
Return: 0.79 % Date: 8/31/2015
Return: -5.34 % Date: 7/31/2015
Return: 3.15 % Date: 6/30/2015
Return: 0.46 % Date: 5/31/2015
Return: 1.70 % Date: 4/30/2015
Return: 1.09 % Date: 3/31/2015
Return: 2.92 % Date: 2/28/2015
Return: 0.96 % Date: 1/31/2015
Return: 4.24 % Date: 12/31/2014
Return: -0.44 % Date: 11/30/2014
Return: -1.77 % Date: 10/31/2014
Return: -2.20 % Date: 9/30/2014
Return: 2.07 % Date: 8/31/2014
Return: 0.12 % Date: 7/31/2014
Return: -0.47 % Date: 6/30/2014
Return: -0.22 % Date: 5/31/2014
Return: 0.35 % Date: 4/30/2014
Return: 4.02 % Date: 3/31/2014
Return: 2.61 % Date: 2/28/2014
Return: -1.71 % Date: 1/31/2014
Return: 0.16 % Date: 12/31/2013
Return: 2.51 % Date: 11/30/2013
Return: 1.31 % Date: 10/31/2013
Return: 2.53 % Date: 9/30/2013
Return: -4.04 % Date: 8/31/2013
Return: -1.50 % Date: 7/31/2013
Return: -9.11 % Date: 6/30/2013
Return: 2.00 % Date: 5/31/2013
Return: -3.97 % Date: 4/30/2013
Return: 6.20 % Date: 3/31/2013
Return: -1.00 % Date: 2/28/2013
Return: 4.79 % Date: 1/31/2013
Return: -4.89 % Date: 12/31/2012
Return: 1.70 % Date: 11/30/2012
Return: 0.74 % Date: 10/31/2012
Return: 1.52 % Date: 9/30/2012
Return: -0.52 % Date: 8/31/2012
Return: -0.20 % Date: 7/31/2012
Return: 1.80 % Date: 6/30/2012
Return: 4.14 % Date: 5/31/2012
Return: -4.36 % Date: 4/30/2012
Return: 3.06 % Date: 3/31/2012
Return: 2.83 % Date: 2/29/2012
Return: -1.54 % Date: 1/31/2012
Return: -2.91 % Date: 12/31/2011
Return: 5.84 % Date: 11/30/2011
Return: 1.26 % Date: 10/31/2011
Return: -0.08 % Date: 9/30/2011
Return: 10.04 % Date: 8/31/2011
Return: -14.79 % Date: 7/31/2011
Return: -0.07 % Date: 6/30/2011
Return: 1.62 % Date: 5/31/2011
Return: 5.54 % Date: 4/30/2011
Return: -2.72 % Date: 3/31/2011
Return: -1.38 % Date: 2/28/2011
Return: 3.03 % Date: 1/31/2011
Return: 1.54 % Date: 12/31/2010
Return: -6.32 % Date: 11/30/2010
Return: 0.55 % Date: 10/31/2010
Return: 2.64 % Date: 9/30/2010
Return: -7.45 % Date: 8/31/2010
Return: -0.28 % Date: 7/31/2010
Return: 10.13 % Date: 6/30/2010
Return: 0.00 % Date: 5/31/2010
Return: 2.13 % Date: 4/30/2010
Return: 3.34 % Date: 3/31/2010
Return: -12.18 % Date: 2/28/2010
Return: 4.47 % Date: 1/31/2010
Return: -2.02 % Date: 12/31/2009
Return: 1.59 % Date: 11/30/2009
Return: 0.98 % Date: 10/31/2009
Return: 0.41 % Date: 9/30/2009
Return: -0.90 % Date: 8/31/2009
Return: 2.67 % Date: 7/31/2009
Return: -5.52 % Date: 6/30/2009
Return: 0.22 % Date: 5/31/2009
Return: 1.87 % Date: 4/30/2009
Return: 2.15 % Date: 3/31/2009
Return: -0.63 % Date: 2/28/2009
Return: -1.81 % Date: 1/31/2009
Return: 2.25 % Date: 12/31/2008
Return: 4.88 % Date: 11/30/2008
Return: 3.49 % Date: 10/31/2008
Return: -2.71 % Date: 9/30/2008
Return: 9.99 % Date: 8/31/2008
Return: 1.93 % Date: 7/31/2008
Return: 4.20 % Date: 6/30/2008
Return: -6.12 % Date: 5/31/2008
Return: 4.66 % Date: 4/30/2008
Return: 8.54 % Date: 3/31/2008
Return: 2.35 % Date: 2/29/2008
Return: 7.34 % Date: 1/31/2008
Return: -8.41 % Date: 12/31/2007
Return: 7.28 % Date: 11/30/2007
Return: 7.17 % Date: 10/31/2007
Return: -1.29 % Date: 9/30/2007
Return: 0.55 % Date: 8/31/2007
Return: 22.86 % Date: 7/31/2007
Return: -6.60 % Date: 6/30/2007
Return: 5.73 % Date: 5/31/2007
Return: 8.41 % Date: 4/30/2007
Return: -0.72 % Date: 3/31/2007
Return: -3.09 % Date: 2/28/2007
Return: -7.81 % Date: 1/31/2007
Return: 4.56 % Date: 12/31/2006
Return: 1.28 % Date: 11/30/2006
Return: 9.92 % Date: 10/31/2006
Return: -1.98 % Date: 9/30/2006
Return: 5.29 % Date: 8/31/2006
Return: 3.08 % Date: 7/31/2006
Return: 2.84 % Date: 6/30/2006
Return: 1.82 % Date: 5/31/2006
Return: -3.95 % Date: 4/30/2006
Return: 8.59 % Date: 3/31/2006
Return: 4.85 % Date: 2/28/2006
Return: 2.09 % Date: 1/31/2006
Return: 0.38 % Date: 12/31/2005
Return: 2.44 % Date: 11/30/2005
Return: -2.11 % Date: 10/31/2005
Return: -0.08 % Date: 9/30/2005
Return: 1.45 % Date: 8/31/2005
Return: 2.91 % Date: 7/31/2005
Return: -0.73 % Date: 6/30/2005
Return: 1.11 % Date: 5/31/2005
Return: 2.88 % Date: 4/30/2005
Return: 1.24 % Date: 3/31/2005
Return: -1.23 % Date: 2/28/2005
Return: 3.32 % Date: 1/31/2005
Return: 2.19 % Date: 12/31/2004
Return: 2.34 % Date: 11/30/2004
Return: -4.09 % Date: 10/31/2004
Return: 4.54 % Date: 9/30/2004
Return: -0.53 % Date: 8/31/2004
Return: 2.63 % Date: 7/31/2004
Return: 0.76 % Date: 6/30/2004
Return: 2.82 % Date: 5/31/2004
Return: -1.75 % Date: 4/30/2004
Return: 3.54 % Date: 3/31/2004
Return: 2.66 % Date: 2/29/2004
Return: 2.87 % Date: 1/31/2004
Return: 0.61 % Date: 12/31/2003
Return: -0.14 % Date: 11/30/2003
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 11/03 - 04/19
Return: -14.00 %
Count: 1 Return: -9.00 %
Count: 1 Return: -5.00 %
Count: 3 Return: -15.00 %
Count: 1 Return: -12.00 %
Count: 1 Return: -6.00 %
Count: 3 Return: 7.00 %
Count: 3 Return: 23.00 %
Count: 1 Return: -7.00 %
Count: 3 Return: 6.00 %
Count: 4 Return: 8.00 %
Count: 1 Return: -3.00 %
Count: 5 Return: -8.00 %
Count: 2 Return: 10.00 %
Count: 4 Return: 9.00 %
Count: 2 Return: 2.00 %
Count: 26 Return: -4.00 %
Count: 6 Return: 5.00 %
Count: 7 Return: -1.00 %
Count: 18 Return: -2.00 %
Count: 12 Return: 4.00 %
Count: 9 Return: 3.00 %
Count: 23 Return: 1.00 %
Count: 24 Return: 0.00 %
Count: 26
Note: All performance data is since program inception.

Underwater Curve

Date Range: 11/03 - 04/19
Date: 4/30/2019
Drawdown: -18.28 % Date: 3/31/2019
Drawdown: -17.64 % Date: 2/28/2019
Drawdown: -19.08 % Date: 1/31/2019
Drawdown: -18.14 % Date: 12/31/2018
Drawdown: -19.23 % Date: 11/30/2018
Drawdown: -15.05 % Date: 10/31/2018
Drawdown: -17.95 % Date: 9/30/2018
Drawdown: -4.52 % Date: 8/31/2018
Drawdown: -5.22 % Date: 7/31/2018
Drawdown: -6.17 % Date: 6/30/2018
Drawdown: -6.15 % Date: 5/31/2018
Drawdown: -5.30 % Date: 4/30/2018
Drawdown: -6.69 % Date: 3/31/2018
Drawdown: -9.36 % Date: 2/28/2018
Drawdown: -5.41 % Date: 1/31/2018
Drawdown: -2.66 % Date: 12/31/2017
Drawdown: -0.17 % Date: 11/30/2017
Drawdown: -0.12 % Date: 10/31/2017
Drawdown: -0.66 % Date: 9/30/2017
Drawdown: 0.00 % Date: 8/31/2017
Drawdown: 0.00 % Date: 7/31/2017
Drawdown: -0.13 % Date: 6/30/2017
Drawdown: 0.00 % Date: 5/31/2017
Drawdown: 0.00 % Date: 4/30/2017
Drawdown: -0.04 % Date: 3/31/2017
Drawdown: -0.35 % Date: 2/28/2017
Drawdown: -1.83 % Date: 1/31/2017
Drawdown: 0.00 % Date: 12/31/2016
Drawdown: -0.97 % Date: 11/30/2016
Drawdown: -0.42 % Date: 10/31/2016
Drawdown: -0.18 % Date: 9/30/2016
Drawdown: 0.00 % Date: 8/31/2016
Drawdown: -0.82 % Date: 7/31/2016
Drawdown: -2.66 % Date: 6/30/2016
Drawdown: -2.30 % Date: 5/31/2016
Drawdown: -5.73 % Date: 4/30/2016
Drawdown: -6.20 % Date: 3/31/2016
Drawdown: -7.97 % Date: 2/29/2016
Drawdown: -7.04 % Date: 1/31/2016
Drawdown: -8.98 % Date: 12/31/2015
Drawdown: -2.35 % Date: 11/30/2015
Drawdown: -6.48 % Date: 10/31/2015
Drawdown: -5.90 % Date: 9/30/2015
Drawdown: -4.59 % Date: 8/31/2015
Drawdown: -5.34 % Date: 7/31/2015
Drawdown: 0.00 % Date: 6/30/2015
Drawdown: 0.00 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: 0.00 % Date: 3/31/2015
Drawdown: -0.66 % Date: 2/28/2015
Drawdown: -3.48 % Date: 1/31/2015
Drawdown: -4.40 % Date: 12/31/2014
Drawdown: -8.29 % Date: 11/30/2014
Drawdown: -7.88 % Date: 10/31/2014
Drawdown: -6.22 % Date: 9/30/2014
Drawdown: -4.11 % Date: 8/31/2014
Drawdown: -6.06 % Date: 7/31/2014
Drawdown: -6.17 % Date: 6/30/2014
Drawdown: -5.73 % Date: 5/31/2014
Drawdown: -5.52 % Date: 4/30/2014
Drawdown: -5.85 % Date: 3/31/2014
Drawdown: -9.49 % Date: 2/28/2014
Drawdown: -11.79 % Date: 1/31/2014
Drawdown: -10.25 % Date: 12/31/2013
Drawdown: -10.40 % Date: 11/30/2013
Drawdown: -12.59 % Date: 10/31/2013
Drawdown: -13.72 % Date: 9/30/2013
Drawdown: -15.85 % Date: 8/31/2013
Drawdown: -12.31 % Date: 7/31/2013
Drawdown: -10.97 % Date: 6/30/2013
Drawdown: -2.05 % Date: 5/31/2013
Drawdown: -3.97 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: -1.33 % Date: 2/28/2013
Drawdown: -0.33 % Date: 1/31/2013
Drawdown: -4.89 % Date: 12/31/2012
Drawdown: 0.00 % Date: 11/30/2012
Drawdown: 0.00 % Date: 10/31/2012
Drawdown: -0.22 % Date: 9/30/2012
Drawdown: -1.72 % Date: 8/31/2012
Drawdown: -1.20 % Date: 7/31/2012
Drawdown: -1.00 % Date: 6/30/2012
Drawdown: -2.75 % Date: 5/31/2012
Drawdown: -6.62 % Date: 4/30/2012
Drawdown: -2.36 % Date: 3/31/2012
Drawdown: -5.26 % Date: 2/29/2012
Drawdown: -7.87 % Date: 1/31/2012
Drawdown: -6.43 % Date: 12/31/2011
Drawdown: -3.62 % Date: 11/30/2011
Drawdown: -8.94 % Date: 10/31/2011
Drawdown: -10.08 % Date: 9/30/2011
Drawdown: -10.00 % Date: 8/31/2011
Drawdown: -18.21 % Date: 7/31/2011
Drawdown: -4.02 % Date: 6/30/2011
Drawdown: -3.95 % Date: 5/31/2011
Drawdown: -5.48 % Date: 4/30/2011
Drawdown: -10.44 % Date: 3/31/2011
Drawdown: -7.94 % Date: 2/28/2011
Drawdown: -6.65 % Date: 1/31/2011
Drawdown: -9.40 % Date: 12/31/2010
Drawdown: -10.77 % Date: 11/30/2010
Drawdown: -4.75 % Date: 10/31/2010
Drawdown: -5.27 % Date: 9/30/2010
Drawdown: -7.71 % Date: 8/31/2010
Drawdown: -0.28 % Date: 7/31/2010
Drawdown: 0.00 % Date: 6/30/2010
Drawdown: -7.31 % Date: 5/31/2010
Drawdown: -7.31 % Date: 4/30/2010
Drawdown: -9.25 % Date: 3/31/2010
Drawdown: -12.18 % Date: 2/28/2010
Drawdown: 0.00 % Date: 1/31/2010
Drawdown: -2.98 % Date: 12/31/2009
Drawdown: -0.98 % Date: 11/30/2009
Drawdown: -2.53 % Date: 10/31/2009
Drawdown: -3.48 % Date: 9/30/2009
Drawdown: -3.87 % Date: 8/31/2009
Drawdown: -3.00 % Date: 7/31/2009
Drawdown: -5.52 % Date: 6/30/2009
Drawdown: 0.00 % Date: 5/31/2009
Drawdown: 0.00 % Date: 4/30/2009
Drawdown: -0.33 % Date: 3/31/2009
Drawdown: -2.43 % Date: 2/28/2009
Drawdown: -1.81 % Date: 1/31/2009
Drawdown: 0.00 % Date: 12/31/2008
Drawdown: 0.00 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: -2.71 % Date: 9/30/2008
Drawdown: 0.00 % Date: 8/31/2008
Drawdown: -0.29 % Date: 7/31/2008
Drawdown: -2.18 % Date: 6/30/2008
Drawdown: -6.12 % Date: 5/31/2008
Drawdown: 0.00 % Date: 4/30/2008
Drawdown: 0.00 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: -1.69 % Date: 1/31/2008
Drawdown: -8.41 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: -1.29 % Date: 9/30/2007
Drawdown: 0.00 % Date: 8/31/2007
Drawdown: 0.00 % Date: 7/31/2007
Drawdown: -6.60 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: -3.84 % Date: 4/30/2007
Drawdown: -11.30 % Date: 3/31/2007
Drawdown: -10.66 % Date: 2/28/2007
Drawdown: -7.81 % 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: -1.98 % Date: 9/30/2006
Drawdown: 0.00 % Date: 8/31/2006
Drawdown: 0.00 % Date: 7/31/2006
Drawdown: 0.00 % Date: 6/30/2006
Drawdown: -2.20 % Date: 5/31/2006
Drawdown: -3.95 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: 0.00 % Date: 2/28/2006
Drawdown: 0.00 % Date: 1/31/2006
Drawdown: 0.00 % Date: 12/31/2005
Drawdown: 0.00 % Date: 11/30/2005
Drawdown: -2.19 % Date: 10/31/2005
Drawdown: -0.08 % Date: 9/30/2005
Drawdown: 0.00 % Date: 8/31/2005
Drawdown: 0.00 % Date: 7/31/2005
Drawdown: -0.73 % Date: 6/30/2005
Drawdown: 0.00 % Date: 5/31/2005
Drawdown: 0.00 % Date: 4/30/2005
Drawdown: -0.01 % Date: 3/31/2005
Drawdown: -1.23 % Date: 2/28/2005
Drawdown: 0.00 % Date: 1/31/2005
Drawdown: 0.00 % Date: 12/31/2004
Drawdown: -1.85 % Date: 11/30/2004
Drawdown: -4.09 % Date: 10/31/2004
Drawdown: 0.00 % Date: 9/30/2004
Drawdown: -0.53 % Date: 8/31/2004
Drawdown: 0.00 % Date: 7/31/2004
Drawdown: 0.00 % Date: 6/30/2004
Drawdown: 0.00 % Date: 5/31/2004
Drawdown: -1.75 % Date: 4/30/2004
Drawdown: 0.00 % Date: 3/31/2004
Drawdown: 0.00 % Date: 2/29/2004
Drawdown: 0.00 % Date: 1/31/2004
Drawdown: 0.00 % Date: 12/31/2003
Drawdown: -0.14 %
Note: All performance data is since program inception.

Underwater Curve

The advisor has traded accounts at both without leverage (other than leverage inherent in contracts traded) and three times leverage. From December 2003 through May 2005, the advisor traded one client account without leverage. From June 2005 through September 2005, the only account traded by the advisor was a proprietary account. That account was traded at three times leverage. From October 2005 through the present, client accounts have been opened and traded without leverage and at three times leverage.

Due to the varying use of leverage among accounts, the advisor retained an independent accounting firm to create a pro-forma composite that retroactively adjusted accounts for leverage conforming it to that of the PAM S&P 3X Contrarian Program. The number of client accounts used as the basis of this record has varied from 1 to 31 over time. In addition to the adjustment for leverage, the performance table reflects the performance of all of the accounts traded by the advisor (including his proprietary account) adjusted for the fees currently being charged (a 2% management fee and 20% incentive fee). Performance results of individual accounts may vary as a result of differing fees, account size, the timing of the entry of orders and other factors.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

Manager Information

Manager Name:  Paskewitz Asset Management, LLC
Address: 644 Fernandez Juncos Ave
City: San Juan
State:
Zip: 00902
Country: Puerto Rico

Key People

Name:  Diana King
Position:  Principal
Biography: 

Diana King has worked as an accountant/controller/CFO at a number of firms since 1991. She has been CFO for Paskewitz Asset Management since inception, and has also assisted with trading administration and execution. She has also assisted in establishing and maintaining the Chinese R&D operation. Her education includes a BS in Finance/Accounting from Zhengzhou University in China, and an MBA in Finance/Accounting from Berne University/Hunter College.


Name:  Bradford Paskewitz
Position:  Principal
Biography: 

Bradford Paskewitz has been developing and trading quantitative strategies since 1987, with a primary focus on the futures and equity markets. He has done this work at firms such as Banque Indosuez, Lehman Brothers, Credit Suisse, and Bear Wagner. He now runs Paskewitz Asset Management (PAM) where strategy R&D is the ongoing focus. Over the course of a twenty two year career in finance, he has focused on the problem of market price forecasting and has continually kept abreast of emerging forecasting methods and techniques as they emerge, with the goal of remaining at the frontier of forecasting technology and implementation. His proprietary quantitative research infrastructure currently enables him to develop new quantitative strategies and trading programs in both U.S. and foreign futures, equity and currency markets. PAM has been a registered CTA since January 2007 and Bradford Paskewitz is an Associated Person and Principal of PAM. Since 2003 he has also been CEO of Qualsolutions, Inc., which provides R&D and technical consulting services to PAM. Qualsolutions has foreign teams located in Beijing and Zhengzhou China, and provides financial market consulting services using their select team of Chinese quants and programmers. From 1982-87, he worked as Director of R&D at Electro-Catheter Corporation on an artificial heart project. He began his career at General Electric, with the Re-entry Systems Division conducting missile radar signal processing R&D (1980-82). His education includes a BS in Electrical Engineering/Computer Science from Princeton University and an MS in Systems Engineering from the University of Pennsylvania.


Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Investment Methodology
 Technical Yes 
 Contrarian Yes 
 Systematic Yes 
 Sector Specialist Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 United States Yes 
 Holding Period
 Intra-Week Yes 
 Investment Terms & Information
 Managed Account Minimum: $1,000,000 
 Margin / Equity Ratio: 10% 
 Managed Account Availability: Open