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Ascent Capital Management CTA Report
Report Start Date: Jan-2019 - Report End Date: Mar-2024
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Report Start Date Report End Date


Future Trade AG / GVI Diversified Volatility Program
Accepting New Investors: Yes
Systematic / Volatility
4.7 Exempt - QEPs Only



Performance are real trading results from 2011-2014 from Licensor as PM in a Fund, from 2015-2019 from Licensor in a Managed Account and from 2020 combination of Licensor and GVI in Managed Accounts.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
20190.07% -0.80% 1.59% 3.20% -2.55% 3.00% 0.43% -3.02% 3.73% 3.89% 2.46% 0.16%
2020 -3.48% -4.22% 18.47% 5.60% 1.66% 0.07% 1.03% -3.30% 4.28% -1.19% 8.57% -0.77%
2021 -5.25% 7.90% 7.00% 0.37% 1.84% 2.74% -3.75% 3.34% -3.41% 1.88% -1.88% 4.83%
2022 -1.10% -1.28% 3.66% -4.56% 4.38% -1.54% 4.53% 0.84% -3.47% 3.00% 1.73% 1.47%
2023 2.40% -0.21% 2.33% 2.68% 2.35% 3.71% 1.22% 2.06% -1.68% 0.59% 2.87% 1.05%
2024 -0.56% 1.02% 0.35%  

 201920202021202220232024 YTD
ROR12.51%27.59%15.66%7.42%21.03%0.80%
Max DD-3.02%-7.55%-5.25%-4.56%-1.68%-0.56%

The Notes Below Are An Integral Part of this Report

Program Description: The GVI Diversified Volatility Program utilizes systematic rule based trading systems with volatility and market risk control for long-term capital appreciation. The models utilize changes, especially in the term structure of Volatility Futures and other metrics in the Options and Volatility Markets. The systems adapt to changing market regimes and have been designed to achieve substantial diversification for traditional portfolios. This program uses models developed by GVI - Global Vision Investments AG complemented by models provided by a licensor for further diversification.


Investment Information
Program Start Date Oct-2011
Minimum Investment 1,000,000
Management Fee 1.00%
Incentive Fee 20.00%
Margin 0
Round Turns per Million 0
Currency US Dollar
NFA No: #0449034
Trading Strategy       Market Segment      

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Program Statistics
Peak-to-Valley Drawdown (1) (Dec 2019 - Feb 2020) -7.55%
Worst Monthly Return (Jan 2021) -5.25%
Current Losing Streak 0.00%
Average Monthly Return 1.31%
Annualized Statistics
Annualized Compounded ROR (2) 15.96%
Standard Deviation 12.88%
Sharpe Ratio (4) 1.14
36 Month Calmar Ratio (3) 2.52

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. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com


Ascent Capital Management CTA Report
Report Start Date: Jan-2019 - Report End Date: Mar-2024
Please wait for your Report to Fully Load Print to PDF




Time Window Analysis
Length Best Average Worst
1 mo 18.5% 1.3% -5.3%
3 mo 27.2% 4% -7.4%
6 mo 24.3% 8.3% -1.3%
12 mo 41.1% 17.8% -0.1%
18 mo 57.7% 27.2% 6.8%
24 mo 61.2% 36.2% 18.7%
36 mo 75.2% 57.6% 38.5%
Historical Drawdown and Recoveries***
Start Depth Length Recovery End
Jan-20 -7.55% 2 mo 1 mo Mar-20
Dec-20 -5.98% 2 mo 1 mo Feb-21
Apr-22 -4.56% 1 mo 3 mo Jul-22
Jul-21 -3.96% 5 mo 1 mo Dec-21
Sep-22 -3.47% 1 mo 2 mo Nov-22
Aug-20 -3.30% 1 mo 1 mo Sep-20


Comparisons                                        ProgramAG CTA Index SP 500 TR
Annualized Compound ROR 15.96%5.58%17.10%
Cumulative Return 117.60%32.96%129.10%
Cumulative VAMI (5) 217613302291
Largest Monthly Gain 18.47%2.99%12.82%
Largest Monthly Loss -5.25%-1.42%-12.35%
Correlation 0.2640.247
Last 12 Months 16.68%8.19%29.88%
Last 36 Months 38.56%16.04%38.61%

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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. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com


Ascent Capital Management CTA Report
Report Start Date: Jan-2019 - Report End Date: Mar-2024
Please wait for your Report to Fully Load Print to PDF




+ NOTES: Performance are real trading results from 2011-2014 from Licensor as PM in a Fund, from 2015-2019 from Licensor in a Managed Account and from 2020 combination of Licensor and GVI in Managed Accounts.

A Qualified Eligible Person ('QEP') must meet the following two requirements: 1) the investor must first be an accredited investor. The most common ways for this are to either have a net worth of $1,000,000 or more OR an annual income of $200,000 or more for the last two years OR, combined with a spouse, $300,000 per year for two years, 2) the investor must meet an additional portfolio requirement, which is having $2,000,000 in securities holdings OR $200,000 in margin on deposit with a Futures Commission Merchant OR a combination of the two (for example, $1,000,000 in securities and $100,000 in margin).

PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THIS BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

** The drawdown begins in the month listed as start. The length in months of the drawdown is listed under length. The recovery begins in the following month, and the length of the recovery period is listed under recovery. The date listed as end is the month that the program recovered from the drawdown.

Please note that the monthly performance numbers, ROR and Drawdowns are based on end of month values and are not reflective of intramonth volatility.

Statistical Notes

1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of 2019-01-31 to 2024-03-31

2. The Annualized Compounded ROR is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth.

3. Calmar Ratio Uses last 36 months of Data

ROR = Rate of Return

AG CTA Index: The Autumn Gold CTA Index is a Non-Investable Index comprised of the client performance of all CTA programs included in the AG database and does not represent the complete universe of CTAs. CTA programs with proprietary performance are not included. Monthly numbers are updated until 45 days after the end of the month. Investors should note that it is not possible to invest in this index.

SP 500 TR: The S&P 500 indices are designed to reflect all sectors of the U.S. equity markets. The S&P 500 includes 500 blue chip, large cap stocks, which together represent about 75% of the total U.S. equities market. Companies eligible for addition to the S&P 500 have market capitalization of at least US$3.5 billion. The TR Index accounts for the reinvestment of dividends.

This report has been prepared from information provided by the Trader and is believed to be reliable. This report should be read in conjunction with the Trader's Disclosure Document.


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. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.


Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com