Tracking CTAs since 1994
Adalpha Asset Management, LLC
Diversified Short-Term
Principal(s): Gary Polony
Strategy: Short Term Systematic / Diversified
Investment Restrictions: 4.7 Exempt - Qualified Eligible Persons Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
Adalpha Asset Management, LLC ("Adalpha") is a Commodity Trading Advisor (CTA) offering a proprietary, diversified, 100% systematic managed futures program (Adalpha Diversified Short-Term) to implement short-term trading strategies. The platform utilizes a unique approach, leveraging multiple momentum and mean reversion based systems which incorporate price, time, volatility and pattern recognition into its dynamic models. Gary Polony, Chief Executive Officer, founded the platform in 2003 as an institutional quality futures program designed to consistently produce high absolute returns adjusted for risk. The primary objective is to achieve superior capital appreciation with sound risk management and low correlation to traditional investments, regardless of the overall direction of individual markets or asset classes. The portfolio is diversified over multiple markets, timeframes and systems and adheres to strict risk management applied at all levels. Adalpha has a track record of proven performance over a wide range of market environments.
N/A
Gary Polony is the founder and sole principal of the Advisor. He has been a NFA Associate Member, principal and associated person of the Advisor since June, 2009. He is also a member of the CME, CBOT, NYMEX and COMEX exchanges. Mr. Polony graduated from DePaul University in 1994, receiving a Bachelor of Science in Finance degree. During his undergraduate studies, he began independently researching and trading 100% mechanical trading systems for his own proprietary account. This initial research and trading system development, which has been an ongoing evolution, still heavily influences the current structure that Adalpha operates within today. In April 1990, Mr. Polony founded Advanced Marketing, a sole proprietor marketing firm. The company was renamed and incorporated as Quest Marketing Concepts, Corp. (“Quest Marketingâ€) in May 2002. Mr. Polony’s employment at Quest Marketing ceased as of July 2008. Following the success of Quest Marketing, Mr. Polony founded Chicago, IL based Quest Financial Management Corporation (“QFMâ€) which became registered as a CTA on October 10, 2003. QFM functioned as an “informational CTA†and published investment advice on financial markets. The current trading program, now known as the Adalpha Diversified Short-Term Institutional Program, commenced trading in April, 2003. Mr. Polony was registered as an associated person and principal of QFM on October 10, 2003. Mr. Polony’s employment at QFM ceased as of April 2009. In May 2009, Adalpha Asset Management, LLC was founded to trade both proprietary capital and managed client assets.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR* | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.97% | 0.69% | – | – | – | – | – | – | – | – | – | – | -0.28% | -0.97% |
| 2025 | -0.46% | -2.20% | 0.18% | 0.66% | -2.02% | -0.34% | -0.52% | -2.13% | -0.92% | 0.54% | 1.35% | -1.93% | -7.79% | -7.60% |
| 2024 | 0.11% | -0.67% | 2.47% | -0.33% | 3.05% | -0.51% | 1.58% | 0.92% | -1.30% | -1.03% | -0.47% | 2.87% | 6.69% | -2.78% |
| 2023 | -2.42% | -1.04% | 0.68% | -3.43% | 0.68% | -1.06% | -0.12% | -0.83% | 0.48% | 0.45% | -1.07% | 0.36% | -7.32% | -7.50% |
| 2022 | 1.52% | -2.13% | 1.67% | 1.61% | 4.99% | 0.34% | 1.13% | -2.05% | -0.15% | -5.14% | -2.32% | 1.86% | 1.33% | -9.38% |
| 2021 | 2.35% | 4.19% | 2.92% | 0.75% | -1.50% | -0.80% | -1.18% | -0.56% | 0.21% | 1.23% | 2.15% | -7.93% | 1.83% | -8.39% |
| 2020 | -0.02% | 2.51% | 4.92% | -4.34% | -0.82% | 4.64% | 0.44% | -1.89% | -3.54% | -0.90% | 3.06% | -0.03% | 4.03% | -6.48% |
| 2019 | 1.80% | 0.22% | 1.21% | 2.88% | 1.05% | -0.44% | 1.57% | 5.88% | -2.85% | 0.10% | 0.60% | 0.68% | 12.70% | -2.85% |
| 2018 | 4.57% | 2.29% | 0.59% | 1.85% | -0.69% | 1.81% | -1.45% | 2.64% | 0.78% | 4.65% | -0.98% | -0.54% | 15.52% | -1.51% |
| 2017 | -3.46% | -3.60% | 4.87% | 1.17% | 2.98% | -0.11% | 4.85% | -5.17% | 2.17% | -1.75% | -1.55% | 2.46% | 2.86% | -6.93% |
| 2016 | 7.07% | 0.52% | 5.06% | 0.18% | -1.15% | 2.68% | -2.15% | -0.52% | -2.35% | -1.05% | -0.61% | -0.17% | 7.51% | -6.67% |
| 2015 | 1.66% | 0.32% | 1.38% | -1.61% | 0.59% | -1.69% | 1.85% | -2.58% | -0.69% | -0.98% | -0.74% | -2.19% | -4.68% | -7.82% |
| 2014 | 0.43% | 0.40% | -1.36% | -3.37% | 1.85% | 2.85% | -1.15% | -1.37% | 6.43% | 4.43% | 1.94% | 0.10% | 11.18% | -4.69% |
| 2013 | -0.19% | 2.91% | -0.93% | 1.52% | 0.96% | -2.43% | -1.46% | 0.75% | 1.89% | 3.61% | -1.04% | 0.64% | 6.23% | -3.86% |
| 2012 | -2.00% | -2.31% | -1.46% | -1.13% | 4.53% | 2.72% | -2.98% | -1.99% | 0.28% | -4.10% | 6.16% | -1.60% | -3.88% | -8.55% |
| 2011 | -0.50% | 1.28% | -4.75% | 2.26% | 0.67% | -1.42% | 1.79% | 4.53% | 3.30% | -2.36% | -1.75% | 1.61% | 4.66% | -4.75% |
| 2010 | 0.01% | -3.52% | -0.57% | -1.15% | 7.72% | -0.38% | 0.40% | 0.67% | 1.75% | -0.52% | -2.32% | -1.84% | 0.25% | -5.18% |
| 2009 | -1.63% | 1.03% | 1.15% | 0.63% | 6.26% | -4.20% | -2.68% | 0.87% | -1.03% | 0.55% | 4.59% | -2.49% | 3.05% | -6.92% |
| 2008 | -0.66% | 6.69% | 0.68% | -1.78% | 0.61% | 0.21% | -1.60% | 3.94% | -2.88% | 22.41% | 0.95% | 0.11% | 28.68% | -2.88% |
| 2007 | 3.22% | -5.73% | -3.64% | 3.80% | 2.37% | 3.18% | -0.28% | -8.68% | 2.33% | 7.36% | 2.52% | -0.37% | 6.08% | -9.31% |
| 2006 | 3.63% | -0.34% | 7.35% | 2.76% | -3.13% | 2.08% | 0.67% | 1.38% | -0.75% | 1.49% | -0.66% | 1.13% | 15.61% | -3.13% |
| 2005 | -3.39% | -5.79% | 0.87% | -3.50% | 5.56% | 7.13% | 3.91% | -4.38% | 2.80% | -2.93% | 5.82% | 3.09% | 9.19% | -11.40% |
| 2004 | 6.98% | 4.71% | 2.03% | 1.58% | 5.76% | -1.81% | 0.89% | -5.23% | 5.58% | -3.31% | 6.86% | -3.04% | 21.00% | -6.11% |
| 2003 | – | – | – | -0.93% | 1.75% | -8.07% | -1.47% | 5.45% | 4.75% | 9.48% | 1.96% | 8.27% | 21.19% | -9.42% |
Track Record Compiled By: NAV Consulting, Inc.
Accounting Notes: The performance of the Adalpha Diversified Short-Term Program shown for the period from April 2003 through July 2019 is the performance of the Advisor's proprietary account, adjusted to reflect the advisory fees charged by such program. The results also are net of brokerage commissions charged to such account, which are believed to be similar to what an institutional investor would be charged. The Advisor's principal commenced trading this proprietary trading account pursuant to the Program prior to registering with the CFTC as a CTA and becoming a Member of the NFA. Beginning January 1, 2007, the proprietary account was 50% notionally funded and beginning December 2011, the proprietary account was 75% notionally funded. While the use of notional funding created greater leverage based on the cash in the proprietary account, the percentage returns in this account reflect what a client would have achieved during the same periods because the rate of return was calculated by dividing net performance into the total account size, inclusive of notional equity. The performance shown for the period from August 2019 through present represents the composite performance results for all customer accounts that traded the Adalpha Diversified Short-Term Program.
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.