Altegris Clearing Solutions Kinkopf Capital Management, LLC Kinkopf S&P Program *PROP*
Monthly Performance (%)
Date Range: 12/98 - 08/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 4.09 8.29 -3.91 -14.94 -10.57 -13.62 6.45 6.78 -19.10
2016 8.62 11.81 0.81 -0.36 5.87 5.79 -2.44 -3.40 -10.76 -5.00 4.73 13.44 29.69
2015 23.80 -0.95 -5.54 -1.83 -16.68 1.37 1.46 14.72 -24.01 2.38 0.14 -10.52 -22.07
2014 -5.57 8.82 -5.91 5.07 -3.57 9.50 -3.03 -10.89 -12.79 -21.07 0.76 -8.60 -41.24
2013 4.36 -18.31 -1.97 -2.34 -11.01 6.43 -4.98 10.17 10.12 -12.38 -5.43 12.14 -17.20
2012 -0.62 5.25 5.99 7.44 1.26 18.80 16.61 1.70 -5.69 -0.12 -2.03 -0.56 55.94
2011 -0.37 1.24 -8.73 0.53 7.45 -7.04 -1.32 17.83 -5.75 -3.39 -3.36 1.03 -4.44
2010 -3.55 21.48 4.33 0.40 -9.33 -3.86 -1.97 -0.42 -0.14 -4.80 2.99 7.25 9.67
2009 4.23 2.40 0.51 6.11 -5.26 0.71 6.00 5.98 6.39 3.71 -1.79 8.48 43.42
2008 -4.46 3.12 -7.12 2.56 3.37 -4.36 -0.12 -1.59 4.31 4.20 -4.31 -4.45 -9.37
2007 5.71 3.71 -0.17 3.49 4.18 9.06 2.41 9.10 -5.89 -10.03 -18.51 0.90 0.10
2006 4.71 0.49 -2.22 4.95 -7.66 -0.09 -4.59 9.01 6.27 -0.36 4.97 -3.47 11.17
2005 -1.13 4.64 -7.58 -6.73 9.91 -4.17 -5.91 -3.47 -7.81 6.28 10.34 -0.40 -8.14
2004 -0.17 7.17 2.01 4.41 3.86 0.07 -1.93 10.25 -0.70 4.42 -5.81 2.33 27.98
2003 2.82 -9.71 6.62 6.71 6.72 -2.24 -2.50 -1.40 -0.77 5.63 -0.16 -5.70 4.54
2002 3.81 8.53 -6.34 -1.46 0.30 -10.58 -12.16 23.32 -7.22 -2.79 9.11 -19.00 -19.47
2001 -3.56 -11.32 16.50 10.34 4.02 17.83 11.49 6.00 -3.97 2.19 2.55 4.09 66.81
2000 3.43 9.59 5.20 10.15 12.71 7.09 -0.73 0.38 -2.26 3.39 -0.01 4.46 66.74
1999 0.08 -14.93 20.42 -7.03 -28.73 39.66 -3.94 5.90 -16.40 18.50 1.99 15.75 12.87
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Kinkopf Capital Management, LLC uses a systematic technical analysis approach that incorporates a diverse array of data that is programmatically analyzed and then statistically evaluated to produce a trading system that is long term stable yet robust to react to system changes over time. Kinkopf Capital Management, LLC core investment philosophy adheres to a strict process that follows a disciplined approach towards trading. Discipline will allow our trading strategy to remain viable in the face of market adversity.

Performance Statistics
Date Range: 12/98 - 08/17
  Program SP500 TR Altegris 40
Total Return 192.16% 203.47% 130.89%
Annualized Return 5.91% 6.10% 4.56%
Annualized Std. Deviation 29.95% 14.54% 10.06%
Correlation 0.17 -0.02
Sharpe Ratio (rf=2.5%) 0.11 0.25 0.21
Worst Month -28.73% -16.79% -7.77%
Date of Worst Month 05/1999 10/2008 11/2001
Worst Drawdown -67.88% -50.95% -15.74%
Date of Worst Drawdown 8/12 - 6/17 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 12/98 - 08/17
Year or YTD Program SP500 TR Altegris 40
2017 -19.10 11.95 -1.93
2016 29.69 11.98 -3.13
2015 -22.07 1.41 0.09
2014 -41.24 13.69 15.75
2013 -17.20 32.41 -2.45
2012 55.94 15.98 -4.75
2011 -4.44 2.12 -3.23
2010 9.67 15.06 11.33
2009 43.42 26.45 -7.98
2008 -9.37 -36.99 15.47
2007 0.10 5.50 7.18
2006 11.17 15.79 6.70
2005 -8.14 4.89 4.51
2004 27.98 10.87 2.57
2003 4.54 28.69 15.99
2002 -19.47 -22.10 15.22
2001 66.81 -11.88 5.39
2000 66.74 -9.09 10.63
1999 12.87 21.04 0.87
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 12/98 - 08/17
Date: 8/31/2017
Perf: $2,255.87 Date: 7/31/2017
Perf: $2,219.04 Date: 6/30/2017
Perf: $2,210.41 Date: 5/31/2017
Perf: $2,276.90 Date: 4/30/2017
Perf: $2,272.58 Date: 3/31/2017
Perf: $2,286.30 Date: 2/28/2017
Perf: $2,320.17 Date: 1/31/2017
Perf: $2,270.67 Date: 12/31/2016
Perf: $2,300.35 Date: 11/30/2016
Perf: $2,283.00 Date: 10/31/2016
Perf: $2,308.39 Date: 9/30/2016
Perf: $2,369.52 Date: 8/31/2016
Perf: $2,400.49 Date: 7/31/2016
Perf: $2,466.85 Date: 6/30/2016
Perf: $2,441.94 Date: 5/31/2016
Perf: $2,342.39 Date: 4/30/2016
Perf: $2,384.11 Date: 3/31/2016
Perf: $2,445.49 Date: 2/29/2016
Perf: $2,517.75 Date: 1/31/2016
Perf: $2,457.30 Date: 12/31/2015
Perf: $2,374.66 Date: 11/30/2015
Perf: $2,430.57 Date: 10/31/2015
Perf: $2,350.42 Date: 9/30/2015
Perf: $2,392.04 Date: 8/31/2015
Perf: $2,341.23 Date: 7/31/2015
Perf: $2,382.45 Date: 6/30/2015
Perf: $2,292.80 Date: 5/31/2015
Perf: $2,418.57 Date: 4/30/2015
Perf: $2,436.11 Date: 3/31/2015
Perf: $2,533.92 Date: 2/28/2015
Perf: $2,479.13 Date: 1/31/2015
Perf: $2,483.10 Date: 12/31/2014
Perf: $2,372.54 Date: 11/30/2014
Perf: $2,331.51 Date: 10/31/2014
Perf: $2,200.57 Date: 9/30/2014
Perf: $2,168.69 Date: 8/31/2014
Perf: $2,136.85 Date: 7/31/2014
Perf: $2,050.13 Date: 6/30/2014
Perf: $2,066.67 Date: 5/31/2014
Perf: $2,049.04 Date: 4/30/2014
Perf: $1,997.90 Date: 3/31/2014
Perf: $1,982.83 Date: 2/28/2014
Perf: $2,012.62 Date: 1/31/2014
Perf: $1,996.25 Date: 12/31/2013
Perf: $2,049.74 Date: 11/30/2013
Perf: $2,052.62 Date: 10/31/2013
Perf: $2,016.13 Date: 9/30/2013
Perf: $1,970.99 Date: 8/31/2013
Perf: $1,982.89 Date: 7/31/2013
Perf: $2,021.70 Date: 6/30/2013
Perf: $2,039.45 Date: 5/31/2013
Perf: $2,119.79 Date: 4/30/2013
Perf: $2,215.03 Date: 3/31/2013
Perf: $2,159.32 Date: 2/28/2013
Perf: $2,128.67 Date: 1/31/2013
Perf: $2,141.09 Date: 12/31/2012
Perf: $2,101.17 Date: 11/30/2012
Perf: $2,090.92 Date: 10/31/2012
Perf: $2,085.08 Date: 9/30/2012
Perf: $2,163.40 Date: 8/31/2012
Perf: $2,199.69 Date: 7/31/2012
Perf: $2,230.02 Date: 6/30/2012
Perf: $2,142.40 Date: 5/31/2012
Perf: $2,226.10 Date: 4/30/2012
Perf: $2,184.59 Date: 3/31/2012
Perf: $2,171.56 Date: 2/29/2012
Perf: $2,222.00 Date: 1/31/2012
Perf: $2,212.93 Date: 12/31/2011
Perf: $2,205.87 Date: 11/30/2011
Perf: $2,184.89 Date: 10/31/2011
Perf: $2,178.36 Date: 9/30/2011
Perf: $2,268.18 Date: 8/31/2011
Perf: $2,269.54 Date: 7/31/2011
Perf: $2,274.09 Date: 6/30/2011
Perf: $2,195.28 Date: 5/31/2011
Perf: $2,253.88 Date: 4/30/2011
Perf: $2,339.26 Date: 3/31/2011
Perf: $2,251.46 Date: 2/28/2011
Perf: $2,286.44 Date: 1/31/2011
Perf: $2,248.22 Date: 12/31/2010
Perf: $2,279.45 Date: 11/30/2010
Perf: $2,185.68 Date: 10/31/2010
Perf: $2,265.89 Date: 9/30/2010
Perf: $2,181.26 Date: 8/31/2010
Perf: $2,142.27 Date: 7/31/2010
Perf: $2,057.11 Date: 6/30/2010
Perf: $2,083.99 Date: 5/31/2010
Perf: $2,076.10 Date: 4/30/2010
Perf: $2,127.59 Date: 3/31/2010
Perf: $2,095.32 Date: 2/28/2010
Perf: $2,015.31 Date: 1/31/2010
Perf: $1,996.55 Date: 12/31/2009
Perf: $2,047.53 Date: 11/30/2009
Perf: $2,132.84 Date: 10/31/2009
Perf: $2,050.22 Date: 9/30/2009
Perf: $2,104.08 Date: 8/31/2009
Perf: $2,055.17 Date: 7/31/2009
Perf: $2,048.41 Date: 6/30/2009
Perf: $2,050.67 Date: 5/31/2009
Perf: $2,106.71 Date: 4/30/2009
Perf: $2,078.03 Date: 3/31/2009
Perf: $2,148.28 Date: 2/28/2009
Perf: $2,209.48 Date: 1/31/2009
Perf: $2,210.59 Date: 12/31/2008
Perf: $2,225.05 Date: 11/30/2008
Perf: $2,169.30 Date: 10/31/2008
Perf: $2,092.50 Date: 9/30/2008
Perf: $1,990.02 Date: 8/31/2008
Perf: $1,985.85 Date: 7/31/2008
Perf: $2,040.32 Date: 6/30/2008
Perf: $2,138.48 Date: 5/31/2008
Perf: $2,082.87 Date: 4/30/2008
Perf: $2,040.83 Date: 3/31/2008
Perf: $2,064.57 Date: 2/29/2008
Perf: $2,073.69 Date: 1/31/2008
Perf: $1,962.05 Date: 12/31/2007
Perf: $1,926.98 Date: 11/30/2007
Perf: $1,931.42 Date: 10/31/2007
Perf: $1,944.06 Date: 9/30/2007
Perf: $1,863.73 Date: 8/31/2007
Perf: $1,780.58 Date: 7/31/2007
Perf: $1,849.57 Date: 6/30/2007
Perf: $1,908.54 Date: 5/31/2007
Perf: $1,854.93 Date: 4/30/2007
Perf: $1,791.00 Date: 3/31/2007
Perf: $1,718.81 Date: 2/28/2007
Perf: $1,759.99 Date: 1/31/2007
Perf: $1,828.56 Date: 12/31/2006
Perf: $1,797.82 Date: 11/30/2006
Perf: $1,739.04 Date: 10/31/2006
Perf: $1,697.45 Date: 9/30/2006
Perf: $1,678.98 Date: 8/31/2006
Perf: $1,696.97 Date: 7/31/2006
Perf: $1,678.17 Date: 6/30/2006
Perf: $1,703.38 Date: 5/31/2006
Perf: $1,727.05 Date: 4/30/2006
Perf: $1,774.06 Date: 3/31/2006
Perf: $1,731.80 Date: 2/28/2006
Perf: $1,686.60 Date: 1/31/2006
Perf: $1,717.17 Date: 12/31/2005
Perf: $1,684.98 Date: 11/30/2005
Perf: $1,716.04 Date: 10/31/2005
Perf: $1,645.45 Date: 9/30/2005
Perf: $1,642.83 Date: 8/31/2005
Perf: $1,617.91 Date: 7/31/2005
Perf: $1,609.22 Date: 6/30/2005
Perf: $1,608.25 Date: 5/31/2005
Perf: $1,555.22 Date: 4/30/2005
Perf: $1,508.61 Date: 3/31/2005
Perf: $1,546.49 Date: 2/28/2005
Perf: $1,555.20 Date: 1/31/2005
Perf: $1,544.55 Date: 12/31/2004
Perf: $1,612.26 Date: 11/30/2004
Perf: $1,606.96 Date: 10/31/2004
Perf: $1,524.48 Date: 9/30/2004
Perf: $1,474.07 Date: 8/31/2004
Perf: $1,454.44 Date: 7/31/2004
Perf: $1,464.54 Date: 6/30/2004
Perf: $1,481.43 Date: 5/31/2004
Perf: $1,531.99 Date: 4/30/2004
Perf: $1,556.74 Date: 3/31/2004
Perf: $1,659.99 Date: 2/29/2004
Perf: $1,676.42 Date: 1/31/2004
Perf: $1,586.92 Date: 12/31/2003
Perf: $1,571.83 Date: 11/30/2003
Perf: $1,506.59 Date: 10/31/2003
Perf: $1,511.12 Date: 9/30/2003
Perf: $1,477.87 Date: 8/31/2003
Perf: $1,484.70 Date: 7/31/2003
Perf: $1,470.88 Date: 6/30/2003
Perf: $1,504.89 Date: 5/31/2003
Perf: $1,543.63 Date: 4/30/2003
Perf: $1,458.04 Date: 3/31/2003
Perf: $1,436.92 Date: 2/28/2003
Perf: $1,524.10 Date: 1/31/2003
Perf: $1,438.24 Date: 12/31/2002
Perf: $1,355.16 Date: 11/30/2002
Perf: $1,277.37 Date: 10/31/2002
Perf: $1,313.63 Date: 9/30/2002
Perf: $1,385.39 Date: 8/31/2002
Perf: $1,324.34 Date: 7/31/2002
Perf: $1,293.17 Date: 6/30/2002
Perf: $1,227.62 Date: 5/31/2002
Perf: $1,127.91 Date: 4/30/2002
Perf: $1,099.44 Date: 3/31/2002
Perf: $1,126.01 Date: 2/28/2002
Perf: $1,129.29 Date: 1/31/2002
Perf: $1,162.06 Date: 12/31/2001
Perf: $1,176.17 Date: 11/30/2001
Perf: $1,151.87 Date: 10/31/2001
Perf: $1,248.91 Date: 9/30/2001
Perf: $1,197.19 Date: 8/31/2001
Perf: $1,161.42 Date: 7/31/2001
Perf: $1,127.70 Date: 6/30/2001
Perf: $1,125.22 Date: 5/31/2001
Perf: $1,137.74 Date: 4/30/2001
Perf: $1,137.40 Date: 3/31/2001
Perf: $1,212.06 Date: 2/28/2001
Perf: $1,138.30 Date: 1/31/2001
Perf: $1,127.58 Date: 12/31/2000
Perf: $1,115.98 Date: 11/30/2000
Perf: $1,031.12 Date: 10/31/2000
Perf: $970.37 Date: 9/30/2000
Perf: $950.51 Date: 8/31/2000
Perf: $967.34 Date: 7/31/2000
Perf: $947.81 Date: 6/30/2000
Perf: $964.79 Date: 5/31/2000
Perf: $979.98 Date: 4/30/2000
Perf: $966.74 Date: 3/31/2000
Perf: $981.56 Date: 2/29/2000
Perf: $1,006.52 Date: 1/31/2000
Perf: $1,017.92 Date: 12/31/1999
Perf: $1,008.74 Date: 11/30/1999
Perf: $995.90 Date: 10/31/1999
Perf: $976.94 Date: 9/30/1999
Perf: $1,022.12 Date: 8/31/1999
Perf: $1,018.56 Date: 7/31/1999
Perf: $1,012.48 Date: 6/30/1999
Perf: $1,020.44 Date: 5/31/1999
Perf: $994.58 Date: 4/30/1999
Perf: $1,011.37 Date: 3/31/1999
Perf: $981.25 Date: 2/28/1999
Perf: $989.26 Date: 1/31/1999
Perf: $971.10 Date: 12/31/1998
Perf: $1,000.00 Date: 8/31/2017
Perf: $2,869.44 Date: 7/31/2017
Perf: $2,860.58 Date: 6/30/2017
Perf: $2,802.84 Date: 5/31/2017
Perf: $2,785.57 Date: 4/30/2017
Perf: $2,746.84 Date: 3/31/2017
Perf: $2,718.83 Date: 2/28/2017
Perf: $2,715.57 Date: 1/31/2017
Perf: $2,611.88 Date: 12/31/2016
Perf: $2,563.18 Date: 11/30/2016
Perf: $2,513.42 Date: 10/31/2016
Perf: $2,423.74 Date: 9/30/2016
Perf: $2,468.67 Date: 8/31/2016
Perf: $2,468.17 Date: 7/31/2016
Perf: $2,464.72 Date: 6/30/2016
Perf: $2,377.01 Date: 5/31/2016
Perf: $2,370.85 Date: 4/30/2016
Perf: $2,328.93 Date: 3/31/2016
Perf: $2,319.88 Date: 2/29/2016
Perf: $2,172.58 Date: 1/31/2016
Perf: $2,175.41 Date: 12/31/2015
Perf: $2,288.94 Date: 11/30/2015
Perf: $2,325.68 Date: 10/31/2015
Perf: $2,318.73 Date: 9/30/2015
Perf: $2,138.26 Date: 8/31/2015
Perf: $2,192.41 Date: 7/31/2015
Perf: $2,333.10 Date: 6/30/2015
Perf: $2,285.11 Date: 5/31/2015
Perf: $2,330.32 Date: 4/30/2015
Perf: $2,300.64 Date: 3/31/2015
Perf: $2,278.76 Date: 2/28/2015
Perf: $2,315.34 Date: 1/31/2015
Perf: $2,189.45 Date: 12/31/2014
Perf: $2,257.17 Date: 11/30/2014
Perf: $2,262.82 Date: 10/31/2014
Perf: $2,203.55 Date: 9/30/2014
Perf: $2,151.06 Date: 8/31/2014
Perf: $2,181.60 Date: 7/31/2014
Perf: $2,097.70 Date: 6/30/2014
Perf: $2,127.05 Date: 5/31/2014
Perf: $2,083.91 Date: 4/30/2014
Perf: $2,036.07 Date: 3/31/2014
Perf: $2,021.11 Date: 2/28/2014
Perf: $2,004.27 Date: 1/31/2014
Perf: $1,916.68 Date: 12/31/2013
Perf: $1,985.38 Date: 11/30/2013
Perf: $1,936.38 Date: 10/31/2013
Perf: $1,879.07 Date: 9/30/2013
Perf: $1,796.44 Date: 8/31/2013
Perf: $1,741.75 Date: 7/31/2013
Perf: $1,793.77 Date: 6/30/2013
Perf: $1,706.88 Date: 5/31/2013
Perf: $1,730.07 Date: 4/30/2013
Perf: $1,690.51 Date: 3/31/2013
Perf: $1,658.50 Date: 2/28/2013
Perf: $1,598.55 Date: 1/31/2013
Perf: $1,577.11 Date: 12/31/2012
Perf: $1,499.44 Date: 11/30/2012
Perf: $1,485.91 Date: 10/31/2012
Perf: $1,477.34 Date: 9/30/2012
Perf: $1,505.19 Date: 8/31/2012
Perf: $1,467.33 Date: 7/31/2012
Perf: $1,435.05 Date: 6/30/2012
Perf: $1,415.37 Date: 5/31/2012
Perf: $1,359.37 Date: 4/30/2012
Perf: $1,446.29 Date: 3/31/2012
Perf: $1,455.46 Date: 2/29/2012
Perf: $1,409.10 Date: 1/31/2012
Perf: $1,350.75 Date: 12/31/2011
Perf: $1,292.83 Date: 11/30/2011
Perf: $1,279.77 Date: 10/31/2011
Perf: $1,282.59 Date: 9/30/2011
Perf: $1,156.22 Date: 8/31/2011
Perf: $1,243.65 Date: 7/31/2011
Perf: $1,315.06 Date: 6/30/2011
Perf: $1,342.30 Date: 5/31/2011
Perf: $1,365.10 Date: 4/30/2011
Perf: $1,380.70 Date: 3/31/2011
Perf: $1,341.01 Date: 2/28/2011
Perf: $1,340.47 Date: 1/31/2011
Perf: $1,296.02 Date: 12/31/2010
Perf: $1,266.02 Date: 11/30/2010
Perf: $1,186.74 Date: 10/31/2010
Perf: $1,186.62 Date: 9/30/2010
Perf: $1,143.07 Date: 8/31/2010
Perf: $1,049.46 Date: 7/31/2010
Perf: $1,099.03 Date: 6/30/2010
Perf: $1,027.03 Date: 5/31/2010
Perf: $1,083.71 Date: 4/30/2010
Perf: $1,177.82 Date: 3/31/2010
Perf: $1,159.50 Date: 2/28/2010
Perf: $1,093.56 Date: 1/31/2010
Perf: $1,060.67 Date: 12/31/2009
Perf: $1,100.28 Date: 11/30/2009
Perf: $1,079.45 Date: 10/31/2009
Perf: $1,018.35 Date: 9/30/2009
Perf: $1,037.65 Date: 8/31/2009
Perf: $1,000.34 Date: 7/31/2009
Perf: $965.48 Date: 6/30/2009
Perf: $897.62 Date: 5/31/2009
Perf: $895.83 Date: 4/30/2009
Perf: $848.41 Date: 3/31/2009
Perf: $774.31 Date: 2/28/2009
Perf: $711.94 Date: 1/31/2009
Perf: $796.80 Date: 12/31/2008
Perf: $870.15 Date: 11/30/2008
Perf: $861.03 Date: 10/31/2008
Perf: $927.63 Date: 9/30/2008
Perf: $1,114.80 Date: 8/31/2008
Perf: $1,223.85 Date: 7/31/2008
Perf: $1,206.36 Date: 6/30/2008
Perf: $1,216.58 Date: 5/31/2008
Perf: $1,328.58 Date: 4/30/2008
Perf: $1,311.53 Date: 3/31/2008
Perf: $1,250.62 Date: 2/29/2008
Perf: $1,256.02 Date: 1/31/2008
Perf: $1,298.21 Date: 12/31/2007
Perf: $1,381.08 Date: 11/30/2007
Perf: $1,390.67 Date: 10/31/2007
Perf: $1,451.34 Date: 9/30/2007
Perf: $1,428.62 Date: 8/31/2007
Perf: $1,377.12 Date: 7/31/2007
Perf: $1,356.77 Date: 6/30/2007
Perf: $1,400.17 Date: 5/31/2007
Perf: $1,423.81 Date: 4/30/2007
Perf: $1,375.79 Date: 3/31/2007
Perf: $1,317.43 Date: 2/28/2007
Perf: $1,302.84 Date: 1/31/2007
Perf: $1,328.89 Date: 12/31/2006
Perf: $1,309.12 Date: 11/30/2006
Perf: $1,291.04 Date: 10/31/2006
Perf: $1,266.97 Date: 9/30/2006
Perf: $1,226.97 Date: 8/31/2006
Perf: $1,196.11 Date: 7/31/2006
Perf: $1,168.31 Date: 6/30/2006
Perf: $1,161.11 Date: 5/31/2006
Perf: $1,159.48 Date: 4/30/2006
Perf: $1,193.87 Date: 3/31/2006
Perf: $1,178.08 Date: 2/28/2006
Perf: $1,163.65 Date: 1/31/2006
Perf: $1,160.52 Date: 12/31/2005
Perf: $1,130.56 Date: 11/30/2005
Perf: $1,130.22 Date: 10/31/2005
Perf: $1,089.05 Date: 9/30/2005
Perf: $1,107.55 Date: 8/31/2005
Perf: $1,098.65 Date: 7/31/2005
Perf: $1,108.74 Date: 6/30/2005
Perf: $1,068.97 Date: 5/31/2005
Perf: $1,067.48 Date: 4/30/2005
Perf: $1,034.58 Date: 3/31/2005
Perf: $1,054.62 Date: 2/28/2005
Perf: $1,073.62 Date: 1/31/2005
Perf: $1,051.54 Date: 12/31/2004
Perf: $1,077.84 Date: 11/30/2004
Perf: $1,042.40 Date: 10/31/2004
Perf: $1,001.82 Date: 9/30/2004
Perf: $986.73 Date: 8/31/2004
Perf: $976.18 Date: 7/31/2004
Perf: $972.29 Date: 6/30/2004
Perf: $1,005.58 Date: 5/31/2004
Perf: $986.44 Date: 4/30/2004
Perf: $973.11 Date: 3/31/2004
Perf: $988.63 Date: 2/29/2004
Perf: $1,003.79 Date: 1/31/2004
Perf: $990.03 Date: 12/31/2003
Perf: $972.14 Date: 11/30/2003
Perf: $923.74 Date: 10/31/2003
Perf: $915.68 Date: 9/30/2003
Perf: $866.63 Date: 8/31/2003
Perf: $875.91 Date: 7/31/2003
Perf: $859.16 Date: 6/30/2003
Perf: $844.30 Date: 5/31/2003
Perf: $833.63 Date: 4/30/2003
Perf: $791.90 Date: 3/31/2003
Perf: $731.61 Date: 2/28/2003
Perf: $724.58 Date: 1/31/2003
Perf: $735.62 Date: 12/31/2002
Perf: $755.41 Date: 11/30/2002
Perf: $802.52 Date: 10/31/2002
Perf: $757.88 Date: 9/30/2002
Perf: $696.58 Date: 8/31/2002
Perf: $781.53 Date: 7/31/2002
Perf: $776.41 Date: 6/30/2002
Perf: $842.09 Date: 5/31/2002
Perf: $906.64 Date: 4/30/2002
Perf: $913.40 Date: 3/31/2002
Perf: $972.32 Date: 2/28/2002
Perf: $937.09 Date: 1/31/2002
Perf: $955.53 Date: 12/31/2001
Perf: $969.69 Date: 11/30/2001
Perf: $961.23 Date: 10/31/2001
Perf: $892.76 Date: 9/30/2001
Perf: $876.02 Date: 8/31/2001
Perf: $953.03 Date: 7/31/2001
Perf: $1,016.67 Date: 6/30/2001
Perf: $1,026.73 Date: 5/31/2001
Perf: $1,052.30 Date: 4/30/2001
Perf: $1,045.30 Date: 3/31/2001
Perf: $969.94 Date: 2/28/2001
Perf: $1,035.59 Date: 1/31/2001
Perf: $1,139.52 Date: 12/31/2000
Perf: $1,100.45 Date: 11/30/2000
Perf: $1,095.09 Date: 10/31/2000
Perf: $1,188.76 Date: 9/30/2000
Perf: $1,193.77 Date: 8/31/2000
Perf: $1,260.32 Date: 7/31/2000
Perf: $1,186.63 Date: 6/30/2000
Perf: $1,205.43 Date: 5/31/2000
Perf: $1,176.38 Date: 4/30/2000
Perf: $1,201.00 Date: 3/31/2000
Perf: $1,238.27 Date: 2/29/2000
Perf: $1,127.96 Date: 1/31/2000
Perf: $1,149.68 Date: 12/31/1999
Perf: $1,210.45 Date: 11/30/1999
Perf: $1,143.12 Date: 10/31/1999
Perf: $1,120.38 Date: 9/30/1999
Perf: $1,053.68 Date: 8/31/1999
Perf: $1,083.36 Date: 7/31/1999
Perf: $1,088.70 Date: 6/30/1999
Perf: $1,123.76 Date: 5/31/1999
Perf: $1,064.67 Date: 4/30/1999
Perf: $1,090.40 Date: 3/31/1999
Perf: $1,049.78 Date: 2/28/1999
Perf: $1,009.40 Date: 1/31/1999
Perf: $1,041.80 Date: 12/31/1998
Perf: $1,000.00 Date: 8/31/2017
Perf: $2,921.56 Date: 7/31/2017
Perf: $2,736.05 Date: 6/30/2017
Perf: $2,570.27 Date: 5/31/2017
Perf: $2,975.54 Date: 4/30/2017
Perf: $3,327.22 Date: 3/31/2017
Perf: $3,911.62 Date: 2/28/2017
Perf: $4,070.79 Date: 1/31/2017
Perf: $3,759.15 Date: 12/31/2016
Perf: $3,611.45 Date: 11/30/2016
Perf: $3,183.57 Date: 10/31/2016
Perf: $3,039.79 Date: 9/30/2016
Perf: $3,199.78 Date: 8/31/2016
Perf: $3,585.59 Date: 7/31/2016
Perf: $3,711.79 Date: 6/30/2016
Perf: $3,804.62 Date: 5/31/2016
Perf: $3,596.39 Date: 4/30/2016
Perf: $3,396.99 Date: 3/31/2016
Perf: $3,409.26 Date: 2/29/2016
Perf: $3,381.87 Date: 1/31/2016
Perf: $3,024.66 Date: 12/31/2015
Perf: $2,784.62 Date: 11/30/2015
Perf: $3,112.01 Date: 10/31/2015
Perf: $3,107.66 Date: 9/30/2015
Perf: $3,035.41 Date: 8/31/2015
Perf: $3,994.49 Date: 7/31/2015
Perf: $3,481.95 Date: 6/30/2015
Perf: $3,431.84 Date: 5/31/2015
Perf: $3,385.46 Date: 4/30/2015
Perf: $4,063.20 Date: 3/31/2015
Perf: $4,138.95 Date: 2/28/2015
Perf: $4,381.69 Date: 1/31/2015
Perf: $4,423.72 Date: 12/31/2014
Perf: $3,573.28 Date: 11/30/2014
Perf: $3,909.49 Date: 10/31/2014
Perf: $3,880.01 Date: 9/30/2014
Perf: $4,915.76 Date: 8/31/2014
Perf: $5,636.69 Date: 7/31/2014
Perf: $6,325.54 Date: 6/30/2014
Perf: $6,523.19 Date: 5/31/2014
Perf: $5,957.25 Date: 4/30/2014
Perf: $6,177.80 Date: 3/31/2014
Perf: $5,879.70 Date: 2/28/2014
Perf: $6,249.02 Date: 1/31/2014
Perf: $5,742.53 Date: 12/31/2013
Perf: $6,081.25 Date: 11/30/2013
Perf: $5,422.91 Date: 10/31/2013
Perf: $5,734.28 Date: 9/30/2013
Perf: $6,544.49 Date: 8/31/2013
Perf: $5,943.05 Date: 7/31/2013
Perf: $5,394.44 Date: 6/30/2013
Perf: $5,677.16 Date: 5/31/2013
Perf: $5,334.17 Date: 4/30/2013
Perf: $5,994.13 Date: 3/31/2013
Perf: $6,137.75 Date: 2/28/2013
Perf: $6,261.09 Date: 1/31/2013
Perf: $7,664.46 Date: 12/31/2012
Perf: $7,344.25 Date: 11/30/2012
Perf: $7,385.61 Date: 10/31/2012
Perf: $7,538.64 Date: 9/30/2012
Perf: $7,547.70 Date: 8/31/2012
Perf: $8,003.07 Date: 7/31/2012
Perf: $7,869.29 Date: 6/30/2012
Perf: $6,748.39 Date: 5/31/2012
Perf: $5,680.46 Date: 4/30/2012
Perf: $5,609.78 Date: 3/31/2012
Perf: $5,221.31 Date: 2/29/2012
Perf: $4,926.23 Date: 1/31/2012
Perf: $4,680.50 Date: 12/31/2011
Perf: $4,709.70 Date: 11/30/2011
Perf: $4,661.69 Date: 10/31/2011
Perf: $4,823.77 Date: 9/30/2011
Perf: $4,993.03 Date: 8/31/2011
Perf: $5,297.65 Date: 7/31/2011
Perf: $4,496.01 Date: 6/30/2011
Perf: $4,556.15 Date: 5/31/2011
Perf: $4,901.19 Date: 4/30/2011
Perf: $4,561.37 Date: 3/31/2011
Perf: $4,537.32 Date: 2/28/2011
Perf: $4,971.32 Date: 1/31/2011
Perf: $4,910.43 Date: 12/31/2010
Perf: $4,928.67 Date: 11/30/2010
Perf: $4,595.49 Date: 10/31/2010
Perf: $4,462.08 Date: 9/30/2010
Perf: $4,687.05 Date: 8/31/2010
Perf: $4,693.63 Date: 7/31/2010
Perf: $4,713.42 Date: 6/30/2010
Perf: $4,808.14 Date: 5/31/2010
Perf: $5,001.19 Date: 4/30/2010
Perf: $5,515.81 Date: 3/31/2010
Perf: $5,493.84 Date: 2/28/2010
Perf: $5,265.83 Date: 1/31/2010
Perf: $4,334.73 Date: 12/31/2009
Perf: $4,494.28 Date: 11/30/2009
Perf: $4,142.95 Date: 10/31/2009
Perf: $4,218.46 Date: 9/30/2009
Perf: $4,067.56 Date: 8/31/2009
Perf: $3,823.25 Date: 7/31/2009
Perf: $3,607.52 Date: 6/30/2009
Perf: $3,403.32 Date: 5/31/2009
Perf: $3,379.33 Date: 4/30/2009
Perf: $3,566.95 Date: 3/31/2009
Perf: $3,361.56 Date: 2/28/2009
Perf: $3,344.50 Date: 1/31/2009
Perf: $3,266.12 Date: 12/31/2008
Perf: $3,133.57 Date: 11/30/2008
Perf: $3,279.50 Date: 10/31/2008
Perf: $3,427.22 Date: 9/30/2008
Perf: $3,289.08 Date: 8/31/2008
Perf: $3,153.17 Date: 7/31/2008
Perf: $3,204.12 Date: 6/30/2008
Perf: $3,207.97 Date: 5/31/2008
Perf: $3,354.21 Date: 4/30/2008
Perf: $3,244.86 Date: 3/31/2008
Perf: $3,163.87 Date: 2/29/2008
Perf: $3,406.40 Date: 1/31/2008
Perf: $3,303.34 Date: 12/31/2007
Perf: $3,457.54 Date: 11/30/2007
Perf: $3,426.70 Date: 10/31/2007
Perf: $4,205.06 Date: 9/30/2007
Perf: $4,673.85 Date: 8/31/2007
Perf: $4,966.37 Date: 7/31/2007
Perf: $4,552.12 Date: 6/30/2007
Perf: $4,445.00 Date: 5/31/2007
Perf: $4,075.74 Date: 4/30/2007
Perf: $3,912.21 Date: 3/31/2007
Perf: $3,780.27 Date: 2/28/2007
Perf: $3,786.71 Date: 1/31/2007
Perf: $3,651.25 Date: 12/31/2006
Perf: $3,454.03 Date: 11/30/2006
Perf: $3,578.19 Date: 10/31/2006
Perf: $3,408.77 Date: 9/30/2006
Perf: $3,421.09 Date: 8/31/2006
Perf: $3,219.24 Date: 7/31/2006
Perf: $2,953.16 Date: 6/30/2006
Perf: $3,095.23 Date: 5/31/2006
Perf: $3,098.02 Date: 4/30/2006
Perf: $3,355.02 Date: 3/31/2006
Perf: $3,196.78 Date: 2/28/2006
Perf: $3,269.36 Date: 1/31/2006
Perf: $3,253.41 Date: 12/31/2005
Perf: $3,107.07 Date: 11/30/2005
Perf: $3,119.55 Date: 10/31/2005
Perf: $2,827.21 Date: 9/30/2005
Perf: $2,660.16 Date: 8/31/2005
Perf: $2,885.52 Date: 7/31/2005
Perf: $2,989.24 Date: 6/30/2005
Perf: $3,177.00 Date: 5/31/2005
Perf: $3,315.25 Date: 4/30/2005
Perf: $3,016.33 Date: 3/31/2005
Perf: $3,233.98 Date: 2/28/2005
Perf: $3,499.22 Date: 1/31/2005
Perf: $3,344.05 Date: 12/31/2004
Perf: $3,382.27 Date: 11/30/2004
Perf: $3,305.26 Date: 10/31/2004
Perf: $3,509.14 Date: 9/30/2004
Perf: $3,360.60 Date: 8/31/2004
Perf: $3,384.29 Date: 7/31/2004
Perf: $3,069.65 Date: 6/30/2004
Perf: $3,130.06 Date: 5/31/2004
Perf: $3,127.88 Date: 4/30/2004
Perf: $3,011.63 Date: 3/31/2004
Perf: $2,884.42 Date: 2/29/2004
Perf: $2,827.59 Date: 1/31/2004
Perf: $2,638.41 Date: 12/31/2003
Perf: $2,642.91 Date: 11/30/2003
Perf: $2,802.66 Date: 10/31/2003
Perf: $2,807.15 Date: 9/30/2003
Perf: $2,657.53 Date: 8/31/2003
Perf: $2,678.15 Date: 7/31/2003
Perf: $2,716.18 Date: 6/30/2003
Perf: $2,785.83 Date: 5/31/2003
Perf: $2,849.66 Date: 4/30/2003
Perf: $2,670.22 Date: 3/31/2003
Perf: $2,502.31 Date: 2/28/2003
Perf: $2,346.95 Date: 1/31/2003
Perf: $2,599.34 Date: 12/31/2002
Perf: $2,528.05 Date: 11/30/2002
Perf: $3,121.05 Date: 10/31/2002
Perf: $2,860.46 Date: 9/30/2002
Perf: $2,942.56 Date: 8/31/2002
Perf: $3,171.55 Date: 7/31/2002
Perf: $2,571.80 Date: 6/30/2002
Perf: $2,927.82 Date: 5/31/2002
Perf: $3,274.24 Date: 4/30/2002
Perf: $3,264.45 Date: 3/31/2002
Perf: $3,312.81 Date: 2/28/2002
Perf: $3,537.06 Date: 1/31/2002
Perf: $3,259.06 Date: 12/31/2001
Perf: $3,139.45 Date: 11/30/2001
Perf: $3,016.09 Date: 10/31/2001
Perf: $2,941.10 Date: 9/30/2001
Perf: $2,878.07 Date: 8/31/2001
Perf: $2,997.05 Date: 7/31/2001
Perf: $2,827.40 Date: 6/30/2001
Perf: $2,536.02 Date: 5/31/2001
Perf: $2,152.27 Date: 4/30/2001
Perf: $2,069.09 Date: 3/31/2001
Perf: $1,875.19 Date: 2/28/2001
Perf: $1,609.61 Date: 1/31/2001
Perf: $1,815.08 Date: 12/31/2000
Perf: $1,882.08 Date: 11/30/2000
Perf: $1,801.72 Date: 10/31/2000
Perf: $1,801.90 Date: 9/30/2000
Perf: $1,742.82 Date: 8/31/2000
Perf: $1,783.12 Date: 7/31/2000
Perf: $1,776.37 Date: 6/30/2000
Perf: $1,789.43 Date: 5/31/2000
Perf: $1,670.96 Date: 4/30/2000
Perf: $1,482.53 Date: 3/31/2000
Perf: $1,345.92 Date: 2/29/2000
Perf: $1,279.39 Date: 1/31/2000
Perf: $1,167.43 Date: 12/31/1999
Perf: $1,128.72 Date: 11/30/1999
Perf: $975.14 Date: 10/31/1999
Perf: $956.11 Date: 9/30/1999
Perf: $806.84 Date: 8/31/1999
Perf: $965.12 Date: 7/31/1999
Perf: $911.35 Date: 6/30/1999
Perf: $948.73 Date: 5/31/1999
Perf: $679.32 Date: 4/30/1999
Perf: $953.16 Date: 3/31/1999
Perf: $1,025.23 Date: 2/28/1999
Perf: $851.38 Date: 1/31/1999
Perf: $1,000.80 Date: 12/31/1998
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 12/98 - 08/17
Date: 8/31/2017
Return: 6.78 % Date: 7/31/2017
Return: 6.45 % Date: 6/30/2017
Return: -13.62 % Date: 5/31/2017
Return: -10.57 % Date: 4/30/2017
Return: -14.94 % Date: 3/31/2017
Return: -3.91 % Date: 2/28/2017
Return: 8.29 % Date: 1/31/2017
Return: 4.09 % Date: 12/31/2016
Return: 13.44 % Date: 11/30/2016
Return: 4.73 % Date: 10/31/2016
Return: -5.00 % Date: 9/30/2016
Return: -10.76 % Date: 8/31/2016
Return: -3.40 % Date: 7/31/2016
Return: -2.44 % Date: 6/30/2016
Return: 5.79 % Date: 5/31/2016
Return: 5.87 % Date: 4/30/2016
Return: -0.36 % Date: 3/31/2016
Return: 0.81 % Date: 2/29/2016
Return: 11.81 % Date: 1/31/2016
Return: 8.62 % Date: 12/31/2015
Return: -10.52 % Date: 11/30/2015
Return: 0.14 % Date: 10/31/2015
Return: 2.38 % Date: 9/30/2015
Return: -24.01 % Date: 8/31/2015
Return: 14.72 % Date: 7/31/2015
Return: 1.46 % Date: 6/30/2015
Return: 1.37 % Date: 5/31/2015
Return: -16.68 % Date: 4/30/2015
Return: -1.83 % Date: 3/31/2015
Return: -5.54 % Date: 2/28/2015
Return: -0.95 % Date: 1/31/2015
Return: 23.80 % Date: 12/31/2014
Return: -8.60 % Date: 11/30/2014
Return: 0.76 % Date: 10/31/2014
Return: -21.07 % Date: 9/30/2014
Return: -12.79 % Date: 8/31/2014
Return: -10.89 % Date: 7/31/2014
Return: -3.03 % Date: 6/30/2014
Return: 9.50 % Date: 5/31/2014
Return: -3.57 % Date: 4/30/2014
Return: 5.07 % Date: 3/31/2014
Return: -5.91 % Date: 2/28/2014
Return: 8.82 % Date: 1/31/2014
Return: -5.57 % Date: 12/31/2013
Return: 12.14 % Date: 11/30/2013
Return: -5.43 % Date: 10/31/2013
Return: -12.38 % Date: 9/30/2013
Return: 10.12 % Date: 8/31/2013
Return: 10.17 % Date: 7/31/2013
Return: -4.98 % Date: 6/30/2013
Return: 6.43 % Date: 5/31/2013
Return: -11.01 % Date: 4/30/2013
Return: -2.34 % Date: 3/31/2013
Return: -1.97 % Date: 2/28/2013
Return: -18.31 % Date: 1/31/2013
Return: 4.36 % Date: 12/31/2012
Return: -0.56 % Date: 11/30/2012
Return: -2.03 % Date: 10/31/2012
Return: -0.12 % Date: 9/30/2012
Return: -5.69 % Date: 8/31/2012
Return: 1.70 % Date: 7/31/2012
Return: 16.61 % Date: 6/30/2012
Return: 18.80 % Date: 5/31/2012
Return: 1.26 % Date: 4/30/2012
Return: 7.44 % Date: 3/31/2012
Return: 5.99 % Date: 2/29/2012
Return: 5.25 % Date: 1/31/2012
Return: -0.62 % Date: 12/31/2011
Return: 1.03 % Date: 11/30/2011
Return: -3.36 % Date: 10/31/2011
Return: -3.39 % Date: 9/30/2011
Return: -5.75 % Date: 8/31/2011
Return: 17.83 % Date: 7/31/2011
Return: -1.32 % Date: 6/30/2011
Return: -7.04 % Date: 5/31/2011
Return: 7.45 % Date: 4/30/2011
Return: 0.53 % Date: 3/31/2011
Return: -8.73 % Date: 2/28/2011
Return: 1.24 % Date: 1/31/2011
Return: -0.37 % Date: 12/31/2010
Return: 7.25 % Date: 11/30/2010
Return: 2.99 % Date: 10/31/2010
Return: -4.80 % Date: 9/30/2010
Return: -0.14 % Date: 8/31/2010
Return: -0.42 % Date: 7/31/2010
Return: -1.97 % Date: 6/30/2010
Return: -3.86 % Date: 5/31/2010
Return: -9.33 % Date: 4/30/2010
Return: 0.40 % Date: 3/31/2010
Return: 4.33 % Date: 2/28/2010
Return: 21.48 % Date: 1/31/2010
Return: -3.55 % Date: 12/31/2009
Return: 8.48 % Date: 11/30/2009
Return: -1.79 % Date: 10/31/2009
Return: 3.71 % Date: 9/30/2009
Return: 6.39 % Date: 8/31/2009
Return: 5.98 % Date: 7/31/2009
Return: 6.00 % Date: 6/30/2009
Return: 0.71 % Date: 5/31/2009
Return: -5.26 % Date: 4/30/2009
Return: 6.11 % Date: 3/31/2009
Return: 0.51 % Date: 2/28/2009
Return: 2.40 % Date: 1/31/2009
Return: 4.23 % Date: 12/31/2008
Return: -4.45 % Date: 11/30/2008
Return: -4.31 % Date: 10/31/2008
Return: 4.20 % Date: 9/30/2008
Return: 4.31 % Date: 8/31/2008
Return: -1.59 % Date: 7/31/2008
Return: -0.12 % Date: 6/30/2008
Return: -4.36 % Date: 5/31/2008
Return: 3.37 % Date: 4/30/2008
Return: 2.56 % Date: 3/31/2008
Return: -7.12 % Date: 2/29/2008
Return: 3.12 % Date: 1/31/2008
Return: -4.46 % Date: 12/31/2007
Return: 0.90 % Date: 11/30/2007
Return: -18.51 % Date: 10/31/2007
Return: -10.03 % Date: 9/30/2007
Return: -5.89 % Date: 8/31/2007
Return: 9.10 % Date: 7/31/2007
Return: 2.41 % Date: 6/30/2007
Return: 9.06 % Date: 5/31/2007
Return: 4.18 % Date: 4/30/2007
Return: 3.49 % Date: 3/31/2007
Return: -0.17 % Date: 2/28/2007
Return: 3.71 % Date: 1/31/2007
Return: 5.71 % Date: 12/31/2006
Return: -3.47 % Date: 11/30/2006
Return: 4.97 % Date: 10/31/2006
Return: -0.36 % Date: 9/30/2006
Return: 6.27 % Date: 8/31/2006
Return: 9.01 % Date: 7/31/2006
Return: -4.59 % Date: 6/30/2006
Return: -0.09 % Date: 5/31/2006
Return: -7.66 % Date: 4/30/2006
Return: 4.95 % Date: 3/31/2006
Return: -2.22 % Date: 2/28/2006
Return: 0.49 % Date: 1/31/2006
Return: 4.71 % Date: 12/31/2005
Return: -0.40 % Date: 11/30/2005
Return: 10.34 % Date: 10/31/2005
Return: 6.28 % Date: 9/30/2005
Return: -7.81 % Date: 8/31/2005
Return: -3.47 % Date: 7/31/2005
Return: -5.91 % Date: 6/30/2005
Return: -4.17 % Date: 5/31/2005
Return: 9.91 % Date: 4/30/2005
Return: -6.73 % Date: 3/31/2005
Return: -7.58 % Date: 2/28/2005
Return: 4.64 % Date: 1/31/2005
Return: -1.13 % Date: 12/31/2004
Return: 2.33 % Date: 11/30/2004
Return: -5.81 % Date: 10/31/2004
Return: 4.42 % Date: 9/30/2004
Return: -0.70 % Date: 8/31/2004
Return: 10.25 % Date: 7/31/2004
Return: -1.93 % Date: 6/30/2004
Return: 0.07 % Date: 5/31/2004
Return: 3.86 % Date: 4/30/2004
Return: 4.41 % Date: 3/31/2004
Return: 2.01 % Date: 2/29/2004
Return: 7.17 % Date: 1/31/2004
Return: -0.17 % Date: 12/31/2003
Return: -5.70 % Date: 11/30/2003
Return: -0.16 % Date: 10/31/2003
Return: 5.63 % Date: 9/30/2003
Return: -0.77 % Date: 8/31/2003
Return: -1.40 % Date: 7/31/2003
Return: -2.50 % Date: 6/30/2003
Return: -2.24 % Date: 5/31/2003
Return: 6.72 % Date: 4/30/2003
Return: 6.71 % Date: 3/31/2003
Return: 6.62 % Date: 2/28/2003
Return: -9.71 % Date: 1/31/2003
Return: 2.82 % Date: 12/31/2002
Return: -19.00 % Date: 11/30/2002
Return: 9.11 % Date: 10/31/2002
Return: -2.79 % Date: 9/30/2002
Return: -7.22 % Date: 8/31/2002
Return: 23.32 % Date: 7/31/2002
Return: -12.16 % Date: 6/30/2002
Return: -10.58 % Date: 5/31/2002
Return: 0.30 % Date: 4/30/2002
Return: -1.46 % Date: 3/31/2002
Return: -6.34 % Date: 2/28/2002
Return: 8.53 % Date: 1/31/2002
Return: 3.81 % Date: 12/31/2001
Return: 4.09 % Date: 11/30/2001
Return: 2.55 % Date: 10/31/2001
Return: 2.19 % Date: 9/30/2001
Return: -3.97 % Date: 8/31/2001
Return: 6.00 % Date: 7/31/2001
Return: 11.49 % Date: 6/30/2001
Return: 17.83 % Date: 5/31/2001
Return: 4.02 % Date: 4/30/2001
Return: 10.34 % Date: 3/31/2001
Return: 16.50 % Date: 2/28/2001
Return: -11.32 % Date: 1/31/2001
Return: -3.56 % Date: 12/31/2000
Return: 4.46 % Date: 11/30/2000
Return: -0.01 % Date: 10/31/2000
Return: 3.39 % Date: 9/30/2000
Return: -2.26 % Date: 8/31/2000
Return: 0.38 % Date: 7/31/2000
Return: -0.73 % Date: 6/30/2000
Return: 7.09 % Date: 5/31/2000
Return: 12.71 % Date: 4/30/2000
Return: 10.15 % Date: 3/31/2000
Return: 5.20 % Date: 2/29/2000
Return: 9.59 % Date: 1/31/2000
Return: 3.43 % Date: 12/31/1999
Return: 15.75 % Date: 11/30/1999
Return: 1.99 % Date: 10/31/1999
Return: 18.50 % Date: 9/30/1999
Return: -16.40 % Date: 8/31/1999
Return: 5.90 % Date: 7/31/1999
Return: -3.94 % Date: 6/30/1999
Return: 39.66 % Date: 5/31/1999
Return: -28.73 % Date: 4/30/1999
Return: -7.03 % Date: 3/31/1999
Return: 20.42 % Date: 2/28/1999
Return: -14.93 % Date: 1/31/1999
Return: 0.08 % Date: 12/31/1998
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 12/98 - 08/17
Return: -14.00 %
Count: 1 Return: -24.00 %
Count: 1 Return: 15.00 %
Count: 1 Return: -17.00 %
Count: 1 Return: 24.00 %
Count: 1 Return: -21.00 %
Count: 1 Return: -13.00 %
Count: 1 Return: 12.00 %
Count: 2 Return: -18.00 %
Count: 1 Return: 19.00 %
Count: 1 Return: -9.00 %
Count: 3 Return: 21.00 %
Count: 1 Return: 8.00 %
Count: 2 Return: 1.00 %
Count: 11 Return: -5.00 %
Count: 6 Return: -8.00 %
Count: 3 Return: -10.00 %
Count: 2 Return: -19.00 %
Count: 2 Return: -3.00 %
Count: 7 Return: 23.00 %
Count: 1 Return: -12.00 %
Count: 2 Return: -6.00 %
Count: 10 Return: 9.00 %
Count: 8 Return: 11.00 %
Count: 1 Return: 17.00 %
Count: 2 Return: -11.00 %
Count: 7 Return: 4.00 %
Count: 16 Return: -2.00 %
Count: 13 Return: -1.00 %
Count: 10 Return: 7.00 %
Count: 9 Return: 13.00 %
Count: 2 Return: 5.00 %
Count: 8 Return: 10.00 %
Count: 8 Return: 3.00 %
Count: 9 Return: 16.00 %
Count: 1 Return: 2.00 %
Count: 8 Return: 18.00 %
Count: 3 Return: -16.00 %
Count: 1 Return: 6.00 %
Count: 15 Return: -4.00 %
Count: 12 Return: 40.00 %
Count: 1 Return: -29.00 %
Count: 1 Return: -7.00 %
Count: 5 Return: 20.00 %
Count: 1 Return: -15.00 %
Count: 2 Return: 0.00 %
Count: 21
Note: All performance data is since program inception.

Underwater Curve
Date Range: 12/98 - 08/17
Date: 8/31/2017
Drawdown: -63.49 % Date: 7/31/2017
Drawdown: -65.81 % Date: 6/30/2017
Drawdown: -67.88 % Date: 5/31/2017
Drawdown: -62.82 % Date: 4/30/2017
Drawdown: -58.43 % Date: 3/31/2017
Drawdown: -51.12 % Date: 2/28/2017
Drawdown: -49.13 % Date: 1/31/2017
Drawdown: -53.03 % Date: 12/31/2016
Drawdown: -54.87 % Date: 11/30/2016
Drawdown: -60.22 % Date: 10/31/2016
Drawdown: -62.02 % Date: 9/30/2016
Drawdown: -60.02 % Date: 8/31/2016
Drawdown: -55.20 % Date: 7/31/2016
Drawdown: -53.62 % Date: 6/30/2016
Drawdown: -52.46 % Date: 5/31/2016
Drawdown: -55.06 % Date: 4/30/2016
Drawdown: -57.55 % Date: 3/31/2016
Drawdown: -57.40 % Date: 2/29/2016
Drawdown: -57.74 % Date: 1/31/2016
Drawdown: -62.21 % Date: 12/31/2015
Drawdown: -65.21 % Date: 11/30/2015
Drawdown: -61.11 % Date: 10/31/2015
Drawdown: -61.17 % Date: 9/30/2015
Drawdown: -62.07 % Date: 8/31/2015
Drawdown: -50.09 % Date: 7/31/2015
Drawdown: -56.49 % Date: 6/30/2015
Drawdown: -57.12 % Date: 5/31/2015
Drawdown: -57.70 % Date: 4/30/2015
Drawdown: -49.23 % Date: 3/31/2015
Drawdown: -48.28 % Date: 2/28/2015
Drawdown: -45.25 % Date: 1/31/2015
Drawdown: -44.72 % Date: 12/31/2014
Drawdown: -55.35 % Date: 11/30/2014
Drawdown: -51.15 % Date: 10/31/2014
Drawdown: -51.52 % Date: 9/30/2014
Drawdown: -38.58 % Date: 8/31/2014
Drawdown: -29.57 % Date: 7/31/2014
Drawdown: -20.96 % Date: 6/30/2014
Drawdown: -18.49 % Date: 5/31/2014
Drawdown: -25.56 % Date: 4/30/2014
Drawdown: -22.81 % Date: 3/31/2014
Drawdown: -26.53 % Date: 2/28/2014
Drawdown: -21.92 % Date: 1/31/2014
Drawdown: -28.25 % Date: 12/31/2013
Drawdown: -24.01 % Date: 11/30/2013
Drawdown: -32.24 % Date: 10/31/2013
Drawdown: -28.35 % Date: 9/30/2013
Drawdown: -18.23 % Date: 8/31/2013
Drawdown: -25.74 % Date: 7/31/2013
Drawdown: -32.60 % Date: 6/30/2013
Drawdown: -29.06 % Date: 5/31/2013
Drawdown: -33.35 % Date: 4/30/2013
Drawdown: -25.10 % Date: 3/31/2013
Drawdown: -23.31 % Date: 2/28/2013
Drawdown: -21.77 % Date: 1/31/2013
Drawdown: -4.23 % Date: 12/31/2012
Drawdown: -8.23 % Date: 11/30/2012
Drawdown: -7.72 % Date: 10/31/2012
Drawdown: -5.80 % Date: 9/30/2012
Drawdown: -5.69 % Date: 8/31/2012
Drawdown: 0.00 % Date: 7/31/2012
Drawdown: 0.00 % Date: 6/30/2012
Drawdown: 0.00 % Date: 5/31/2012
Drawdown: 0.00 % Date: 4/30/2012
Drawdown: 0.00 % Date: 3/31/2012
Drawdown: -5.34 % Date: 2/29/2012
Drawdown: -10.69 % Date: 1/31/2012
Drawdown: -15.14 % Date: 12/31/2011
Drawdown: -14.61 % Date: 11/30/2011
Drawdown: -15.49 % Date: 10/31/2011
Drawdown: -12.55 % Date: 9/30/2011
Drawdown: -9.48 % Date: 8/31/2011
Drawdown: -3.96 % Date: 7/31/2011
Drawdown: -18.49 % Date: 6/30/2011
Drawdown: -17.40 % Date: 5/31/2011
Drawdown: -11.14 % Date: 4/30/2011
Drawdown: -17.30 % Date: 3/31/2011
Drawdown: -17.74 % Date: 2/28/2011
Drawdown: -9.87 % Date: 1/31/2011
Drawdown: -10.98 % Date: 12/31/2010
Drawdown: -10.64 % Date: 11/30/2010
Drawdown: -16.69 % Date: 10/31/2010
Drawdown: -19.10 % Date: 9/30/2010
Drawdown: -15.03 % Date: 8/31/2010
Drawdown: -14.91 % Date: 7/31/2010
Drawdown: -14.55 % Date: 6/30/2010
Drawdown: -12.83 % Date: 5/31/2010
Drawdown: -9.33 % Date: 4/30/2010
Drawdown: 0.00 % Date: 3/31/2010
Drawdown: 0.00 % Date: 2/28/2010
Drawdown: 0.00 % Date: 1/31/2010
Drawdown: -12.72 % Date: 12/31/2009
Drawdown: -9.51 % Date: 11/30/2009
Drawdown: -16.58 % Date: 10/31/2009
Drawdown: -15.06 % Date: 9/30/2009
Drawdown: -18.10 % Date: 8/31/2009
Drawdown: -23.02 % Date: 7/31/2009
Drawdown: -27.36 % Date: 6/30/2009
Drawdown: -31.47 % Date: 5/31/2009
Drawdown: -31.96 % Date: 4/30/2009
Drawdown: -28.18 % Date: 3/31/2009
Drawdown: -32.31 % Date: 2/28/2009
Drawdown: -32.66 % Date: 1/31/2009
Drawdown: -34.24 % Date: 12/31/2008
Drawdown: -36.90 % Date: 11/30/2008
Drawdown: -33.97 % Date: 10/31/2008
Drawdown: -30.99 % Date: 9/30/2008
Drawdown: -33.77 % Date: 8/31/2008
Drawdown: -36.51 % Date: 7/31/2008
Drawdown: -35.48 % Date: 6/30/2008
Drawdown: -35.41 % Date: 5/31/2008
Drawdown: -32.46 % Date: 4/30/2008
Drawdown: -34.66 % Date: 3/31/2008
Drawdown: -36.29 % Date: 2/29/2008
Drawdown: -31.41 % Date: 1/31/2008
Drawdown: -33.49 % Date: 12/31/2007
Drawdown: -30.38 % Date: 11/30/2007
Drawdown: -31.00 % Date: 10/31/2007
Drawdown: -15.33 % Date: 9/30/2007
Drawdown: -5.89 % Date: 8/31/2007
Drawdown: 0.00 % Date: 7/31/2007
Drawdown: 0.00 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: 0.00 % Date: 3/31/2007
Drawdown: -0.17 % Date: 2/28/2007
Drawdown: 0.00 % Date: 1/31/2007
Drawdown: 0.00 % Date: 12/31/2006
Drawdown: -3.47 % Date: 11/30/2006
Drawdown: 0.00 % Date: 10/31/2006
Drawdown: -3.63 % Date: 9/30/2006
Drawdown: -3.28 % Date: 8/31/2006
Drawdown: -8.99 % Date: 7/31/2006
Drawdown: -16.51 % Date: 6/30/2006
Drawdown: -12.49 % Date: 5/31/2006
Drawdown: -12.41 % Date: 4/30/2006
Drawdown: -5.15 % Date: 3/31/2006
Drawdown: -9.62 % Date: 2/28/2006
Drawdown: -7.57 % Date: 1/31/2006
Drawdown: -8.02 % Date: 12/31/2005
Drawdown: -12.16 % Date: 11/30/2005
Drawdown: -11.80 % Date: 10/31/2005
Drawdown: -20.07 % Date: 9/30/2005
Drawdown: -24.79 % Date: 8/31/2005
Drawdown: -18.42 % Date: 7/31/2005
Drawdown: -15.49 % Date: 6/30/2005
Drawdown: -10.18 % Date: 5/31/2005
Drawdown: -6.27 % Date: 4/30/2005
Drawdown: -14.72 % Date: 3/31/2005
Drawdown: -8.57 % Date: 2/28/2005
Drawdown: -1.07 % Date: 1/31/2005
Drawdown: -5.46 % Date: 12/31/2004
Drawdown: -4.38 % Date: 11/30/2004
Drawdown: -6.55 % Date: 10/31/2004
Drawdown: -0.79 % Date: 9/30/2004
Drawdown: -4.99 % Date: 8/31/2004
Drawdown: -4.32 % Date: 7/31/2004
Drawdown: -13.21 % Date: 6/30/2004
Drawdown: -11.51 % Date: 5/31/2004
Drawdown: -11.57 % Date: 4/30/2004
Drawdown: -14.86 % Date: 3/31/2004
Drawdown: -18.45 % Date: 2/29/2004
Drawdown: -20.06 % Date: 1/31/2004
Drawdown: -25.41 % Date: 12/31/2003
Drawdown: -25.28 % Date: 11/30/2003
Drawdown: -20.76 % Date: 10/31/2003
Drawdown: -20.64 % Date: 9/30/2003
Drawdown: -24.87 % Date: 8/31/2003
Drawdown: -24.28 % Date: 7/31/2003
Drawdown: -23.21 % Date: 6/30/2003
Drawdown: -21.24 % Date: 5/31/2003
Drawdown: -19.43 % Date: 4/30/2003
Drawdown: -24.51 % Date: 3/31/2003
Drawdown: -29.25 % Date: 2/28/2003
Drawdown: -33.65 % Date: 1/31/2003
Drawdown: -26.51 % Date: 12/31/2002
Drawdown: -28.53 % Date: 11/30/2002
Drawdown: -11.76 % Date: 10/31/2002
Drawdown: -19.13 % Date: 9/30/2002
Drawdown: -16.81 % Date: 8/31/2002
Drawdown: -10.33 % Date: 7/31/2002
Drawdown: -27.29 % Date: 6/30/2002
Drawdown: -17.22 % Date: 5/31/2002
Drawdown: -7.43 % Date: 4/30/2002
Drawdown: -7.71 % Date: 3/31/2002
Drawdown: -6.34 % Date: 2/28/2002
Drawdown: 0.00 % Date: 1/31/2002
Drawdown: 0.00 % Date: 12/31/2001
Drawdown: 0.00 % Date: 11/30/2001
Drawdown: 0.00 % Date: 10/31/2001
Drawdown: -1.87 % Date: 9/30/2001
Drawdown: -3.97 % Date: 8/31/2001
Drawdown: 0.00 % Date: 7/31/2001
Drawdown: 0.00 % Date: 6/30/2001
Drawdown: 0.00 % Date: 5/31/2001
Drawdown: 0.00 % Date: 4/30/2001
Drawdown: 0.00 % Date: 3/31/2001
Drawdown: -0.37 % Date: 2/28/2001
Drawdown: -14.48 % Date: 1/31/2001
Drawdown: -3.56 % Date: 12/31/2000
Drawdown: 0.00 % Date: 11/30/2000
Drawdown: -0.01 % Date: 10/31/2000
Drawdown: 0.00 % Date: 9/30/2000
Drawdown: -2.60 % Date: 8/31/2000
Drawdown: -0.35 % Date: 7/31/2000
Drawdown: -0.73 % Date: 6/30/2000
Drawdown: 0.00 % Date: 5/31/2000
Drawdown: 0.00 % Date: 4/30/2000
Drawdown: 0.00 % Date: 3/31/2000
Drawdown: 0.00 % Date: 2/29/2000
Drawdown: 0.00 % Date: 1/31/2000
Drawdown: 0.00 % Date: 12/31/1999
Drawdown: 0.00 % Date: 11/30/1999
Drawdown: -4.89 % Date: 10/31/1999
Drawdown: -6.74 % Date: 9/30/1999
Drawdown: -21.30 % Date: 8/31/1999
Drawdown: -5.86 % Date: 7/31/1999
Drawdown: -11.11 % Date: 6/30/1999
Drawdown: -7.46 % Date: 5/31/1999
Drawdown: -33.74 % Date: 4/30/1999
Drawdown: -7.03 % Date: 3/31/1999
Drawdown: 0.00 % Date: 2/28/1999
Drawdown: -14.93 % Date: 1/31/1999
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Kinkopf Capital Management, LLC
Address: 222 Lenox Court
City: Grayslake
State: IL
Zip: 60030
Country: USA
Key People
Name:  Ken Kinkopf
Position:  Principal
Biography: 

Ken Kinkopf is founder and president of Kinkopf Capital Management, LLC. Mr. Kinkopf is a member f the National Futures Association and registered with the Commodities Futures Trading Commission as an associated person and principal of Kinkopf Capital Management. Ken Kinkopf is responsible for all trading decisions and management of the firm. He is available for consultations and continues to be an independent consultant. Mr. Kinkopf has been involved with market forecasting for 25 years and began investing using a simple risk management model in 1983. These long-term results led to an influential desire to study the concepts and applications of risk management. After an inexhaustible endeavor, he correlated a risk-reward model using statistical transformations with atypical data. Mr. Kinkopf began to incorporate exploratory data analysis with advanced forecasting techniques using statistical modeling software for further research. The results led to a long-term stable, systematic, non-discretionary trading system. Mr. Kinkopf began employing his non-discretionary systematic trading system on a daily basis in 1999. Highlights of Mr. Kinkopf’s recent achievements include winning first place in PFG’s six-month CTA Championship showdown ending August 2007 in which he won a $1,000,000 trade allocation from PFG (Peregrine Financial Group). Mr. Kinkopf is also a two (2) time winner in the PFG quarterly CTA Challenges ending May 2007 and November 2006 winning two (2) $250,000 trade allocations. The PFG CTA Challenges are based on Risk-Adjusted-Return and open to registrants who enter the contest and trade actual funds at PFG. Mr. Kinkopf manages client funds using the identical techniques he uses to trade his proprietary account. In November of 2007, Ken Kinkopf was one of eight (8) global speakers invited to present his forecasting strategies at the Taiwan 2007 Futures Trust Enterprise Forum in Taipei. Prior to joining Kinkopf Capital Management in 2005, Ken Kinkopf co-founded KD Development Group LLC, a company which provided business consulting, security reviews, and retail franchising services. Ken Kinkopf was acting president and managed a 35-employee team before selling his interest. Previously, he was a consultant for a technology firm providing advice to Fortune 500 businesses. In May of 1991 until 1996, he co-foundered and became president of K&D Financial Corporation in New York, which provided sell-side financial advisory services in the managed futures industry. The company was registered with the CFTC as a CTA and was a member of the NFA. Mr. Kinkopf managed client accounts using a discretionary trading system. Mr. Kinkopf has published two technical forecasting advisories services and written for Stocks and Commodities magazine discussing several of the statistical tools and techniques used in his forecasting models.


Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.