Tracking CTAs since 1994
Coloma Capital Futures LLC
Hedged Volatility
Principal(s): David Burkart
Strategy: Volatility Trading in VIX Futures
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The Coloma Hedged Volatility Strategy looks to take advantage of mispricing in VIX futures while reducing risk with a statistically-driven overlay strategy. Conceptually, risk-sensitive market participants have alternating emotions of enthusiasm and fear which impact stock market volitility and the related futures. This influence on market structure frequently creates mispricing opportunities in diverse market environments for the strategy. The approach takes both long and short views on volatility. The day-to-day signal generation is systematic with human oversight and trade execution.
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David Burkart, CFA, founded CCF in June 2009 and brought over eight years of portfolio management, research and client relationship experience from Barclays Global Investors where he created and managed institutional and exchange-traded commodities products and separate accounts. In addition to building an $800+ million institutional commodities business from the ground up, he was instrumental in leading BGI's $9 billion commodities iShares efforts. Prior to his commodities responsibilities at BGI, he served in the Allocations Group managing fund-of-fund products ranging from balanced funds to target-risk strategies that utilized active derivative positioning. He graduated from the Wharton School of Business with his MBA in finance, holds an MA from the University of Virginia in foreign affairs and received his BA in economics from the University of California at Santa Barbara. Mr. Burkart is a Chartered Financial Analyst (CFA) charterholder, a CFTC-registered Principal and Associated Person and holds the Series 3 FINRA license. On behalf of CFA Institute, Mr. Burkart lectured regarding commodities investing in the United States, Canada, Mexico, France and the Middle East. More recently, Mr. Burkart has presented for CE credit on commodities investing and hedge fund management for Chartered Financial Analyst Institute's San Francisco Chapter as well as to student groups in the San Francisco Bay Area.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | – | – | – | – | – | – | – | 0.00% | 0.00% |
| 2024 | -0.90% | -0.70% | 0.00% | -0.90% | -0.60% | 0.30% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -2.68% | -3.06% |
| 2023 | 3.20% | 2.20% | -8.80% | 0.90% | -1.00% | 1.40% | -2.10% | 1.10% | 0.10% | -3.70% | -1.00% | -1.50% | -9.35% | -14.05% |
| 2022 | -0.70% | -2.40% | -2.20% | 4.40% | 2.80% | -0.20% | 0.30% | 3.90% | 3.20% | -0.40% | 0.50% | 1.60% | 11.04% | -5.22% |
| 2021 | 1.60% | 2.00% | 2.20% | -0.90% | 0.30% | 0.80% | -0.50% | -1.80% | -1.50% | 0.10% | 2.30% | 0.20% | 4.79% | -3.76% |
| 2020 | -0.10% | 1.40% | -4.80% | -5.00% | -4.10% | -5.90% | -0.50% | -1.90% | 3.10% | -1.70% | 1.90% | -2.60% | -18.83% | -20.34% |
| 2019 | -1.56% | -0.75% | -0.65% | 0.23% | 5.33% | -2.55% | -0.30% | -4.15% | 0.14% | 3.04% | -0.10% | 3.30% | 1.62% | -6.87% |
| 2018 | 5.30% | -1.10% | -2.00% | -0.30% | 0.30% | 0.00% | -1.80% | -3.30% | 1.50% | 3.70% | -1.10% | 1.70% | 2.60% | -7.96% |
| 2017 | 3.40% | 0.20% | 2.30% | -1.60% | -2.50% | -2.40% | 0.40% | 0.20% | 1.00% | 1.60% | -0.80% | 0.00% | 1.63% | -6.36% |
| 2016 | -1.65% | 0.64% | 1.34% | -0.95% | 3.14% | -4.65% | 3.14% | 2.70% | 4.30% | 0.30% | -0.20% | -3.30% | 4.49% | -4.65% |
| 2015 | -0.54% | 4.85% | 1.50% | 3.85% | 2.00% | 0.85% | 1.25% | 8.44% | -6.24% | -3.74% | 2.80% | -0.01% | 15.17% | -9.75% |
| 2014 | -1.40% | -1.90% | 0.00% | 0.70% | 1.90% | 2.80% | -1.00% | -1.20% | 0.20% | 4.20% | -1.90% | -0.50% | 1.71% | -3.27% |
| 2013 | – | – | – | – | 2.70% | 3.90% | 2.50% | -1.00% | 0.40% | -2.40% | 1.00% | -1.30% | 5.77% | -3.29% |
Track Record Compiled By: Coloma Capital
Accounting Notes: Proprietary Account Composite return data is from May 10, 2013 to July 17, 2013 close and Client Composite inception is from July 18, 2013 onward. 2013 Year-to-date returns combine Proprietary Account and Client Composite monthly returns. Proprietary Account Composite returns were adjusted on a pro forma basis to include a 2% annual (0.167% monthly) management fee and 20% incentive fee paid monthly. All returns include estimated or realized commissions and fees (realized and/or accrued).
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.>
Risk Disclosure
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.
THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.
AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.