Statistical Analysis Report

Chelton Wealth-Chelton AB - Opportunity

Trading Strategy: Quantitative/Relative Strength / Mean Reversion / FX

Investment Restrictions: Non-US Investors Only

Performance Since January 2024 | Track Record Compiled By: IQ-EQ Fund Administrator | Please See Accounting Notes | A Portion of this Performance is Based on Proprietary Trading

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR	Max DD
2026	0.81%	1.54%	–	–	–	–	–	–	–	–	–	–	2.36%	0.00%
2025	0.55%	1.04%	0.87%	0.34%	0.96%	-0.10%	2.06%	0.22%	1.14%	1.60%	1.71%	1.45%	12.48%	-0.10%
2024	1.06%	0.61%	1.16%	0.50%	0.58%	1.01%	1.07%	0.84%	1.00%	4.91%	-0.53%	2.43%	15.55%	-0.53%

Program Description: The Opportunity Strategy was designed to achieve stable, sustainable growth over time while maintaining a consistently low level of risk and portfolio volatility. It follows a mean-reverting quantitative approach, based on the idea that currency markets tend to oscillate around equilibrium values, and that the real strength of a trading framework lies not in market prediction but in equity management and statistical coherence.
The Opportunity Strategy is a quantitative mean-reversion strategy based on currency strength and equity management, replacing the traditional stop-loss mechanism with statistical consistency and controlled diversification. It is founded on the objective analysis of relative currency strength — the interaction of currencies within their baskets rather than the behaviour of single pairs. It emphasises data coherence, controlled leverage and capital preservation through measured exposure.

Program Statistics
Peak-to-Valley Drawdown (2)	-0.53%
From Oct 2024 to Nov 2024
Worst Month (Nov 2024)	-0.53%
Current Losing Streak	0%
Average Monthly Return	1.11%

Annualized Performance
Compound ROR (1)	14.08%
Standard Deviation	3.47%
Sharpe Ratio	3.72
Sterling Ratio	0
Calmar Ratio (3)	N/A

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 ADVISORS 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.

Investment Information

Program Start Date	Jan-2024
Currency Denomination	Euro
Minimum Investment	100,000
Minimum Fund Investment	100,000
Management Fee	2.00%
Incentive Fee	20.00%
NFA No:	#N/A

Trading Methodology

100% Systematic

Trading Style

100% Trend Following

Market Segment

100% Forex

Statistical Comparisons	Chelton Wealth-Chelton AB Opportunity	AutumnGold AG CTA Index	S&P 500 SP 500 TR

Annualized Compound ROR (1)	14.08%	5.58%	19.98%
Cumulative Return	33.04%	12.48%	48.39%
Cumulative VAMI(7)	1,330	1,125	1,484
Best Monthly Return	4.91%	2.17%	6.29%
Worst Monthly Return	-0.53%	-1.17%	-5.63%
Annual Standard Deviation	3.47%	3.29%	10.33%
Profit Loss Ratio	46.76	3.74	3.60
Correlation	—	-0.20	-0.35
Last Month	1.54%	2.00%	-0.76%
Last 12 Months	13.33%	7.87%	17.00%
Last 24 Months	30.85%	10.15%	38.54%
Last 36 Months	33.04%	16.71%	80.73%

Growth of $1,000 VAMI Comparison

A COMPLETE DISCUSSION OF FEES AND CHARGES ARE REPORTED IN THE CTA’s DISCLOSURE DOCUMENT. SPECIFICALLY, ONE SHOULD RECOGNIZE THAT YOU MAY BE CHARGED A FRONT-END START-UP FEE OF UP TO 3% OF THE INITIAL CONTRIBUTION. PLEASE NOTE THAT THIS CHARGE IS NOT REFLECTED IN THE PERFORMANCE OF THE COMMODITY TRADING ADVISOR AND COULD HAVE A SIGNIFICANT IMPACT ON THE CUSTOMER’S ABILITY TO ACHIEVE SIMILAR RETURNS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE SUCCESS.

Accounting Notes
Returns are based on proprietary accounts. Client accounts will be traded similarly. Results may differ, i.e, • broker's spread and execution charges • fees • swap rates • slippage/execution delay • asset/product offering • deposit • risk settings.

Note: The result is gross. The following fees are charged. Investment from $100k to $1m is 2/20. From $1m to $2.5m is 1.75/17.5. From $2.5m to $5m is 1.5/15. $5m to $10m is 1.25/12.5 and above $10m is 1/10.

An Important Note on the Start Date and End Date of this Report
If the Start Date of this Report Predates the Inception of the Program, the Maximum Drawdown from Inception may be larger than indicated in this report. Performance Results reported or amended subsequent to Saturday April 4, 2026 are not reflected in this Report. Monthly ROR and drawdowns are based on end-of-month values and do not reflect intramonth volatility.

Historical Drawdowns and Recoveries
The drawdown begins in the month listed as "start." Length is in months. Recovery begins the following month and ends when full recovery is reached.

Statistical Footnotes
1) The Annualized Compounded Rate of Return (ACROR) represents the compounded rate of return for each year or portion thereof presented. It is computed by applying successively respective monthly rate of return for each month beginning with the first month of that period. It smooths out the returns by assuming a constant growth.
2) Peak to Valley Drawdown = worst % loss between Jan-2024 and Feb-2026
3) Calmar Ratio uses the last 36 months of data.

Benchmark Descriptions

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 was prepared from trader-provided information and is believed to be reliable. It should be read alongside each Trader’s Disclosure Document or Fund Offering Document.