The 2019 CTA Challenge – November Commentary

The 2020 CTA Challenge

Setting The New Standard For Liquid Alternative Investment Evaluation

CTAs – Register Now For The 2020 CTA Challenge


Registration and participation are FREE for CTAs in 2020! Commodity Trading Advisors (CTAs) who are interested in participating in the 2020 CTA Challenge should contact Coquest now to get your program registered. Registration period closes December 5th, 2019. Click on the below banner to learn more about the CTA Challenge mission to educate and benefit investors as well as CTAs.

2019 Snapshot

Of the 90 liquid alternative investment programs participating in the 2019 CTA Challenge, we have seen performance range from -40% to +127% ROR since January 1st (gross performance numbers). Just like the futures market prices, the performance moves for CTA managed futures programs have been all over the place. The unpredictable nature of market price moves, both in direction and size, require CTAs to employ hefty risk controls if they want to protect their customers from large losses in the investment accounts. In the CTA Challenge, we take a risk-adjusted approach to analyzing and ranking CTA programs to ensure we are evaluating performance and risk numbers achieved as well as performance and risk exposures. We are evaluating “what actually happened” and also looking at “what could have happened”. See below for the most recent top 5 ranked programs year-to-date in the CTA Challenge.


2019 CTA Challenge:

Top 5 Ranking Through The End Of October

#1: County Cork LLC / Acclivity Program *QEP*

#2: Quantica Capital AG / Managed Futures Program *QEP*

#3: AG Capital Investments LLC / Discretionary Global Macro Program

#4: Emil Van Essen LLC / Global Tactical Allocation Program *QEP*

#5: Automaton Trading LLC / Diversified Program *QEP*

See the full current rankings here.

CTAs interested in participating, or investors interested in learning more about CTAs and Managed Futures investment strategies, should contact Coquest and the CTA Challenge by Clicking Here.


Featured CTA

Typhon Capital Management LLC is the home of several best-in-class tactical trading strategies including the award-winning Vulcan Metals Program.

The Vulcan Metals Program is a discretionary metals market structure trading strategy managed by James Gallo, a NYMEX floor trader since 1987, and Edward Smith, a COMEX Member since 1994. Vulcan trades a variety of metals including copper, gold, silver, platinum and palladium. Vulcan adapts to changing market conditions; the strategy employs intra-commodity spreads to yield additional low risk returns. It employs COMEX/LME Arbitrage, Roll Arbitrage, Spread Arbitrage, Cash & Carry, and Physical Warrant trading strategies and targets a positively skewed, low volatility return profile.


Featured Sponsor

Traders Fulcrum is an informal networking group of over 2,000 Chicago-area Traders, Alternative Investment Fund Managers, Asset Allocators and other Money Management professionals who get together to hoist a few beers and talk shop. Meetings occur about once every quarter with an average of 200 attendees.


Upcoming Events – Mark Your Calendars!

MFA Network 2020
January 27-29, 2020
The Loews Miami Beach Hotel, Miami Beach, FL

Context Summits
January 29-31, 2020
Fontainebleau Hotel, Miami Beach, FL


2019 CTA Challenge Sponsors