Paragon Global Markets
Deep Field Capital AG
Short Term Absolute Return (STAR)
Quantitative / S-Term / Equity Index Futures | Momentum & Mean Reversion
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Month Performance
+1.02%
May 2026
YTD Return
+2.52%
Through May 2026
AUM
$17,000,000
Assets Under Management
Overview
The Short-Term Absolute Return (STAR) strategy is a quantitative multi-strategy that leverages momentum and mean-reversion signals. It takes directional long or short positions and can also maintain a neutral stance. STAR trades the two most liquid equity index futures: the S&P 500 and NASDAQ 100. With an average holding period of 2.9 days, its net exposure varies from -100% to +100% (average just +27%). Its 5% peak margin-to-equity ratio makes STAR very capital-efficient. In line with DFC's hallmark strategies, STAR has a positive two-sided return convexity, during significant upward and downward moves in equity and bond markets. This highlights its capacity to deliver absolute alpha with positively skewed returns. Launched on June 01, 2023, by August 01 it became an integral sub-strategy within the DFC VolArb Program. Another compelling application is pairing STAR with the ICA Program, reducing risk and amplifying returns.
Program Details
| Inception Date | Jun 2023 |
| Trading Style | Momentum & Mean Reversion |
| Holding Period | Short Term |
| Markets Traded | Stock Indices |
| Margin | 0-5% |
| Minimum Investment | $1,000,000 |
| Management Fee | 1% |
| Performance Fee | 25.00 |
This is a snapshot only. Investors should read the applicable Disclosure/Offering documents to determine suitability.
GROWTH OF $1,000 VAMI
Program vs. Autumn Gold CTA Index
Hypothetical growth of $1,000 based on reported monthly returns.
Autumn Gold CTA Index:
The Autumn Gold CTA Index is a non-investable index comprised of performance from CTA programs included in the Autumn Gold database and does not represent the complete universe of CTAs.
PERFORMANCE SUMMARY
| YEAR | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| RETURN | +24.29% | -2.07% | -0.41% | N/A |
Maximum Drawdown Since Inception
-17.30%
Past performance is not indicative of future results.
ProForma Returns adjusted for a 1% management fee & 25% incentive fee.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
THE RISK OF TRADING COMMODITY FUTURES, OPTIONS, CRYPTO FUTURES, AND/OR FOREIGN EXCHANGE ("FOREX") IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS, CRYPTO FUTURES, AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THIS MATTER IS INTENDED AS A SOLICITATION TO INVEST IN MANAGED FUTURES. AN INVESTOR MUST READ AND UNDERSTAND THE CTA’S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THIS MATTER IS INTENDED AS A SOLICITATION TO INVEST IN MANAGED FUTURES.