Autumn Gold Retail Report
Report Start Date: May-2020 - Report End Date: Oct-2025
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Amapa Capital Advisors LLC - Amapa Investment Fund (2XL Share Class)
Trading Strategy: Discretionary / Energies
Investment Restrictions: Qualified Eligible Persons Only
| Performance Since May 2020 | Track Record Compiled By: Marathon Investments | Please See Accounting Notes |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2.58% | 0.43% | -0.87% | -5.73% | 0.47% | 0.83% | -0.71% | 1.24% | 0.86% | 0.46% | – | – | -0.68% | -6.56% |
| 2024 | 0.52% | -0.43% | 0.63% | -0.70% | -2.10% | 0.08% | -1.40% | -0.73% | 0.07% | -0.15% | -0.45% | -0.05% | -4.64% | -5.32% |
| 2023 | -0.27% | -0.38% | 3.15% | -0.15% | -1.38% | 1.07% | 0.53% | -0.16% | 1.33% | -0.99% | 2.73% | 1.49% | 7.08% | -1.53% |
| 2022 | 5.50% | 1.82% | 4.79% | 1.82% | 2.08% | -0.47% | 3.84% | -3.50% | -2.17% | 1.04% | -1.54% | 4.41% | 18.57% | -6.08% |
| 2021 | -0.21% | -1.42% | 3.30% | 2.98% | 0.11% | 4.88% | 5.14% | 0.89% | 4.68% | -2.52% | 1.09% | -0.12% | 20.08% | -2.52% |
| 2020 | – | – | – | – | 1.05% | -0.98% | -1.24% | -0.59% | -4.06% | -0.38% | 0.10% | -2.16% | -8.05% | -9.00% |
Program Description: The Energy Program is discretionary and focuses on petroleum and US natural gas. The investment strategy merges an analysis of supply demand dynamics to identify themes and biases with a thorough review of technical factors to filter trade ideas and define risk reward parameters. The program implements both directional and relative value trades. Risk and position sizing are measured at the trade level. The holding period can vary from intraday to a few months according to the commodity being traded, the volatility of the underlying and the tactical vs structural nature of the trade.
| Program Statistics |
|
| Peak-to-Valley Drawdown (2) | -10.48% |
| From May 2020 to Feb 2021 | |
| Worst Month (Apr 2025) | -5.73% |
| Current Losing Streak | -5.96% |
| Average Monthly Return | 0.45% |
| Annualized Performance |
|
| Compound ROR (1) | 5.29% |
| Standard Deviation | 7.59% |
| Sharpe Ratio | 0.66 |
| Sterling Ratio | 0.1 |
| Calmar Ratio (3) | 0.16 |
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.
