Paragon Global Markets
Backhouse Trading, LLC
Discretionary Global Macro
Global Macro / Diversified
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Month Performance
+2.43%
Sep 2026
YTD Return
+10.71%
Through Sep 2026
AUM
$130,000,000
Assets Under Management
Overview
The program is a discretionary global macro strategy implemented via futures trading on U.S. regulated exchanges. The program's goal is to compound capital for clients at strong double-digit CAGR while being generally uncorrelated with the S&P 500 and trend-following CTA programs. The program is designed to provide all-weather absolute returns. The program uses a multidisciplinary approach (bottom-up research on companies/sectors, top-down macroeconomic trends, market positioning data, market narrative/sentiment, and technical analysis) to make directional bets. The program is constrained to liquid U.S. futures contracts and trades the following sectors -- interest rates, equities, softs, metals, FX, energies, and grains.
Program Details
| Inception Date | Jan 2019 |
| Trading Style | Global Macro |
| Holding Period | Medium Term, Short Term |
| Markets Traded | Diversified |
| Margin | 5% |
| Minimum Investment | $500,000 |
| Management Fee | 2% |
| Performance Fee | 20.00 |
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 | +14.19% | +27.66% | +13.84% | +3.07% |
Maximum Drawdown Since Inception
-22.93%
Past performance is not indicative of future results.
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.