Autumn Gold Retail Report
Report Start Date: Jan-2020 - Report End Date: Oct-2025
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AP Futures LLC - Volatility Trading Program
Trading Strategy: Spreads / Volatility / Stock Indices
| Performance Since January 2020 | Please See Accounting Notes |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.01% | -0.34% | -0.79% | -11.66% | 5.38% | 2.59% | 3.63% | 3.27% | 1.82% | 0.38% | – | – | 4.32% | -12.66% |
| 2024 | 0.56% | 1.07% | 1.09% | -1.28% | 1.61% | 0.96% | -0.83% | 4.20% | -1.05% | -4.58% | 6.16% | -5.12% | 2.25% | -5.59% |
| 2023 | 3.16% | -0.20% | -2.90% | 5.71% | 1.56% | 5.16% | 1.76% | 0.62% | -1.80% | -2.71% | 3.30% | 1.99% | 16.33% | -4.46% |
| 2022 | -7.94% | -6.34% | -1.37% | -3.01% | 3.02% | -6.99% | 6.24% | 0.14% | -3.83% | 0.94% | 5.00% | 1.66% | -12.88% | -20.97% |
| 2021 | -4.90% | 13.94% | 7.25% | 2.92% | 0.17% | 2.62% | 1.54% | 3.76% | -2.53% | 6.67% | -2.19% | 8.15% | 42.46% | -4.90% |
| 2020 | -5.78% | -6.93% | 6.62% | -4.55% | 1.69% | -7.09% | 10.05% | -0.48% | 2.82% | -1.98% | 20.62% | 3.45% | 16.14% | -15.68% |
Program Description: The Volatility Trading Program is designed to exclusively trade VIX futures. The Advisor considers the current market environment in a broad sense and then looks to opportunistically place spread positions along the futures curve according to their relative value as determined by the Advisor's proprietary method. From time to time the Advisor may place a simple "long" or "short" position along the VIX futures curve to shift the portfolio's exposure and/or sensitivities. There are no trading restrictions or limitations placed on the Advisor and the Advisor reserves the right to trade in other futures markets, such as the E-mini S&P 500 and U.S Treasury futures, in times of market stress or illiquidity in order to hedge the portfolio's macro exposures.
| Program Statistics |
|
| Peak-to-Valley Drawdown (2) | -34.30% |
| From Sep 2018 to Dec 2018 | |
| Worst Month (Dec 2018) | -27.13% |
| Current Losing Streak | -1.02% |
| Average Monthly Return | 0.7% |
| Annualized Performance |
|
| Compound ROR (1) | 6.26% |
| Standard Deviation | 21.01% |
| Sharpe Ratio | 0.38 |
| Sterling Ratio | 0.52 |
| Calmar Ratio (3) | 0.6 |
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. AN INVESTOR COULD POTENTIALLY LOSE MORE THAN THE INITIAL INVESTMENT. AN INVESTOR MUST READ AND UNDERSTAND THE COMMODITY TRADING ADVISOR'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. SELLING OPTIONS INVOLVES UNLIMITED RISK OF LOSS. THERE IS NO GUARANTEE OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THIS MATTER IS INTENDED AS A SOLICITATION TO INVEST IN MANAGED FUTURES.
