The weather outside was frightful for some of the US markets in December. As risks of recession loomed, equities and bond prices fell in tandem (again). Volatility increased modestly providing a meager meal long volatility strategies. A milder European winter (so far) helped energy prices mostly decline through the month, especially natural gas. The USD continued its decline while other currencies inversely followed suit for the most part. All that said, there were some trends but also a lot of choppy, low-volume trading, which is to be expected in December. As the year came to a close, YTD numbers became more interesting. Which “hedged” strategies proved their worth? And which strategies are still primarily stocks and bonds in a different wrapper. We’re glad to see some support from true diversifiers like Trend and Commodities.
| Name | Ticker | Month to Date | Year to Date | Assets Under Management |
|---|---|---|---|---|
| Hedged Equity | ||||
| Catalyst Buffered Shield Fund I | SHIIX | -2.63% | -18.14% | $40,990,651 |
| Rational Equity Armor Fund Instl | HDCTX | -4.55% | -10.68% | $67,204,569 |
| EAVOL NASDAQ-100 Volatil Overlay Risk A | CLPAX | -8.02% | -30.54% | $11,902,738 |
| Equities + Managed Futures | ||||
| Catalyst/Millburn Hedge Strategy I | MBXIX | 1.68% | 7.72% | $5,556,281,752 |
| Standpoint Multi-Asset Institutional | BLNDX | -1.81% | 3.71% | $532,760,890 |
| Active Fixed Income | ||||
| Catalyst Multi-Strategy I | ACXIX | -2.69% | -4.66% | $5,683,894 |
| All Weather / Multi-Strat | ||||
| Rational/ReSolve Adaptive Asset Allc I | RDMIX | -1.41% | -3.06% | $169,545,318 |
| Astor Macro Alternative I | GBLMX | 3.52% | -1.84% | $30,019,192 |
| Catalyst/Millburn Dynamic Cmdty Stgy I | DCXIX | -3.65% | 18.61% | $16,601,073 |
| Options | ||||
| Catalyst/Warrington Strategic Program A | CWXAX | 0.96% | 6.06% | $155,996,767 |
| AlphaCentric Premium Opportunity A | HMXAX | -2.82% | -10.83% | $105,847,772 |
| Rational Tactical Return Instl | HRSTX | 0.35% | -0.30% | $216,742,706 |
| Commodities | ||||
| SilverPepper Cmdty Strats Glb Macro Inst | SPCIX | -5.41% | 3.13% | $156,940,151 |
| Direxion Auspice Broad Commodity Strategy | COM (ETF) | 1.13% | 9.18% | $269,358,278 |
| SDCI USCF SummerHaven Dynamic Commodity | SDCI (ETF) | 2.39% | 32.58% | $8,972,073 |
| Managed Futures | ||||
| AXS Chesapeake Strategy I | EQCHX | 1.65% | 20.13% | $58,693,778 |