The start of the New Year provided a rude awakening to the few remaining people lulled to sleep by the die-hard equities bull market. While the world faced the worst COVID case spike of the pandemic, it also had to come to terms with a more hawkish posture from the Fed. Markets trended hard for most of the month and eased off during the last week of January. At their worst, equities were down over -11% but ended the month at -5.17%. The VIX was up over 60% and then finished the +26%. Commodities continued their bullish trend, with metals a notable exception. The largest “risk-off” environment since March 2020 is a great litmus test for negatively and non-correlated strategies to showcase their true colors. The funds below show quite a bit of dispersion, but most of them were able to beat equities. Notable performers were those funds with a commodity-focus thanks to solid gains in oil and grains.
| Name | Ticker | Month to Date | Year to Date | Assets Under Management |
|---|---|---|---|---|
| Hedged Equity | ||||
| Catalyst Buffered Shield Fund I | SHIIX | -5.11% | -5.11% | $93,645471 |
| Rational Equity Armor Fund Instl | HDCTX | -1.00% | -1.00% | $72,001,360 |
| EAVOL NASDAQ-100 Volatil Overlay Risk A | CLPAX | -6.36% | -6.36% | $14,668,625 |
| Certeza Convex Core A | CNVEX | -13.99% | -13.99% | $8,594,983 |
| Equities + Managed Futures | ||||
| Catalyst/Millburn Hedge Strategy I | MBXIX | -4.93% | -4.93% | $3,092,054,349 |
| Standpoint Multi-Asset Institutional | BLNDX | -2.85% | -2.85% | $175,500,060 |
| Active Fixed Income | ||||
| Catalyst/Stone Beach Income Opp I | IOXIX | 0.22% | 0.22% | $20,883,359 |
| Catalyst Multi-Strategy I | ACXIX | -1.67% | -1.67% | $4,094,948 |
| All Weather / Multi-Strat | ||||
| Rational/ReSolve Adaptive Asset Allc I | RDMIX | 0.44% | 0.44% | $69,013,831 |
| Astor Macro Alternative I | GBLMX | -1.08% | -1.08% | $35,882,331 |
| Catalyst/Teza Algorithmic Alloc I | TEZIX | -5.34% | -5.34% | $6,094,203 |
| Catalyst/Millburn Dynamic Cmdty Stgy I | DCXIX | 6.53% | 6.53% | $10,548,282 |
| Options | ||||
| Catalyst/Warrington Strategic Program A | CWXAX | 0.96% | 0.96% | $100,688,516 |
| AlphaCentric Premium Opportunity A | HMXAX | -2.97% | -2.97% | $209,319,172 |
| Rational Tactical Return Instl | HRSTX | -0.35% | -0.35% | $288,261,165 |
| Commodities | ||||
| SilverPepper Cmdty Strats Glb Macro Inst | SPCIX | 8.30% | 8.30% | $189,687,327 |
| Direxion Auspice Broad Commodity Strategy | COM (ETF) | 3.63% | 3.63% | $286,435,289 |
| SDCI USCF SummerHaven Dynamic Commodity | SDCI (ETF) | 9.51% | 9.51% | $8,092,793 |
| Managed Futures | ||||
| AXS Chesapeake Strategy I | EQCHX | 4.18% | 4.18% | $26,004,824 |