Amapa Investment Fund (2XL Share Class)
Discretionary / Energies
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% |
| Monthly Std. Deviation | 2.19% |
| Gain Deviation (35 months) | 1.68% |
| Loss Deviation (31 months) | 1.3% |
| Gain to Loss Ratio | 1.58 |
| Omega Ratio (5% Threshold) | 1.05 |
| Annualized Performance |
|
| Compound ROR (1) | 5.29% |
| Standard Deviation | 7.59% |
| Downside Deviation | 4.21% |
| Sharpe Ratio (3) 2% RF ROR | 0.66 |
| Sortino Ratio (4) 5% MAR | 1.22 |
| Calmar Ratio (5) | 0.16 |
| Sterling Ratio (6) | 0.1 |
| Gain Deviation | 5.82% |
| Loss Deviation | 4.5% |
| Profit Loss Ratio | 1.79 |
| Investment Information |
|
| Program Start Date | May-2020 |
| Percent Discretionary | 100% |
| Currency Denomination - US Dollar | |
| Minimum Investment | $2,000,000 |
| Minimum Fund Investment | $100,000 |
| Management Fee | 1-2% |
| Incentive Fee | 20.00 |
| Margin | 2-10% |
| Round Turns per Million | 2,000 |
| NFA No: | #0483176 |
| 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% | 18.58% | -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% |
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.
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