The EMC BALANCE PROGRAM is a long-only strategy that allocates to a subset of diverse global markets, including global stock index futures, sovereign interest rate futures and metal futures. Components of the portfolio are optimized across markets to capture profits during times of economic expansion. Systematic rebalancing is done to return to optimal allocations.
Program Statistics
Peak-to-Valley Drawdown (2)
-17.88%
From Dec 2021 to Sep 2022
Worst Month (Sep 2022)
-7.80%
Current Losing Streak
0%
Average Monthly Return
0.47%
Monthly Std. Deviation
2.92%
Gain Deviation (53 months)
1.74%
Loss Deviation (32 months)
2.09%
Gain to Loss Ratio
0.92
Omega Ratio (5% Threshold)
1.05
Annualized Performance
Compound ROR (1)
5.22%
Standard Deviation
10.12%
Downside Deviation
6.74%
Sharpe Ratio (3) 2% RF ROR
0.51
Sortino Ratio (4) 5% MAR
0.75
Calmar Ratio (5)
1.07
Sterling Ratio (6)
0.64
Gain Deviation
6.02%
Loss Deviation
7.25%
Profit Loss Ratio
1.52
Investment Information
Program Start Date
Aug-2018
Percent Systematic
100%
Currency Denomination - US Dollar
Minimum Investment
$3,000,000
Minimum Fund Investment
$100,000
Management Fee
2.00%
Incentive Fee
20.00%
Margin
6%
Round Turns per Million
120
NFA No:
#0466576
4.7 Exempt - QEPs Only
Performance Since August 2018 | Track Record Compiled By: N/A
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
ROR
Max DD
2025
2.91%
0.80%
1.20%
2.66%
-0.04%
2.26%
0.19%
2.97%
–
–
–
–
13.65%
-0.04%
2024
-0.92%
1.32%
4.57%
-3.68%
2.65%
1.42%
2.19%
2.84%
2.39%
-2.28%
0.42%
-2.68%
8.17%
-4.50%
2023
4.89%
-3.63%
3.59%
1.08%
-1.18%
2.30%
1.87%
-2.94%
-4.88%
-2.43%
7.16%
6.10%
11.64%
-9.92%
2022
-2.97%
-0.53%
-0.65%
-4.59%
-0.22%
-3.57%
4.97%
-3.61%
-7.80%
2.87%
7.14%
-3.00%
-12.21%
-17.88%
2021
-0.51%
-0.45%
0.57%
1.90%
1.57%
-0.22%
0.27%
1.00%
-1.76%
0.79%
-0.56%
1.82%
4.44%
-1.76%
2020
0.42%
-2.27%
-7.04%
3.85%
2.17%
1.74%
1.76%
0.90%
-0.80%
-1.06%
5.34%
2.87%
7.55%
-9.15%
2019
3.62%
0.50%
1.45%
0.86%
-1.33%
3.68%
0.72%
1.03%
0.30%
1.16%
0.09%
1.49%
14.33%
-1.33%
2018
–
–
–
–
–
–
–
0.43%
-0.63%
-7.05%
1.60%
-1.68%
-7.34%
-7.73%
Monthly Return and $1,000 VAMI
Risk Disclaimer
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. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.
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. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.
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 Thursday October 9, 2025 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.
Qualified Eligible Persons
THIS PROGRAM IS ONLY OPEN TO INVESTORS FITTING THE DEFINITION OF A QUALIFIED ELIGIBLE PERSON AS THAT TERM IS DEFINED UNDER CFTC REGULATION 4.7(A). A Qualified Eligible Person must meet the following two requirements:
1. Must be an accredited investor (e.g., $1,000,000 net worth or $200,000 individual income / $300,000 joint income for 2 years).
2. Must meet a portfolio test (e.g., $4,000,000 in securities or $400,000 in required margin deposits).
PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THIS INFORMATION IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE CFTC. THE CCFTC DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE CFTC HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS DOCUMENT.
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 Aug-2018 and Aug-2025
3. Sharpe Ratio is calculated using a Risk-Free ROR
4. Sortino Ratio is calculated using a Minimum Acceptable ROR
5. Calmar Ratio uses the last 36 months of data
6. Sterling Ratio uses the last 36 months of data
7. VAMI = Hypothetical growth of $1,000
8. Drawdown/recovery: start = first loss, recovery = full return to prior peak
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.
Risk Disclaimer
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. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.
