AP Futures LLC
Volatility Trading Program
Principal:
Andrew Haleen
Volatility / Relative Value | Contrarian, Spread Trading, Volatility Relative Value
Interested in this program? Request Additional Information →
Month Performance
+0.69%
Jul 2026
YTD Return
+4.89%
Through Jul 2026
AUM
$1,942,187
Assets Under Management
Overview
The Volatility Trading Program trades VIX futures exclusively, an opportunity set distinct from the equity, rate, and commodity markets that drive most managed futures programs. The program's return driver is relative value along the VIX futures curve. The Advisor evaluates the broad market environment, then places spread and outright positions where the curve's shape and pricing present an opportunity, as determined by the Advisor's proprietary method.
Program Details
| Inception Date | Jan 2017 |
| Trading Style | Contrarian, Spread Trading, Volatility Relative Value |
| Holding Period | Medium Term, Short Term |
| Markets Traded | VIX |
| Margin | 10-20% |
| Minimum Investment | $100,000 |
| Management Fee | Up to 1.00% annually |
| Performance Fee | Up to 20% |
This is a snapshot only. Investors should read Disclosure/Offering documents to determine suitability of investment.
GROWTH OF $1,000 VAMI
Program vs. Autumn Gold CTA Index
About the 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.
Hypothetical growth of $1,000 based on reported monthly returns.
PERFORMANCE SUMMARY
Annual Returns (Net)
| YEAR | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| RETURN | +10.34% | +2.25% | +16.33% | -12.88% |
Maximum Drawdown Since Inception
-34.30%
Past performance is not indicative of future results.
Investor Eligibility
What is a QEP?
A Qualified Eligible Person (QEP) is an investor or entity that meets the eligibility requirements described in CFTC Regulation 4.7. The applicable requirements vary by investor type and may include financial, portfolio, professional, or institutional qualifications.
This information is provided for general reference only. QEP status is
self-identified here and should be determined by reviewing the applicable
regulation and, when appropriate, with your professional advisers.
FUTURES, OPTIONS, CRYPTO, AND FOREX TRADING INVOLVES RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.