Altegris Clearing Solutions Auspice Capital Advisors, Ltd. Auspice Diversified Program *QEP*
Monthly Performance (%)
Date Range: 01/06 - 05/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 -3.66 -1.89 -1.35 -1.39 -0.53 -8.54
2016 -0.22 3.12 -4.93 3.60 -1.92 0.56 2.44 -1.55 -1.06 -1.34 2.68 -0.13 0.91
2015 4.68 -1.93 0.47 -0.98 -2.03 -1.84 -4.36 -2.14 0.26 -2.75 2.56 0.66 -7.47
2014 -2.02 1.62 -1.84 3.25 -3.11 2.65 -0.43 3.92 8.56 -0.78 7.05 4.19 24.76
2013 0.40 -2.23 0.28 0.99 -0.90 0.66 -1.54 -1.33 -4.07 2.01 0.04 -0.36 -6.03
2012 2.41 -1.11 -1.19 0.60 1.71 -6.29 1.17 -0.70 -3.64 -1.80 -2.38 0.81 -10.24
2011 1.39 2.97 -1.16 4.09 -1.31 -1.62 2.16 -1.09 -2.60 -3.82 1.07 -3.44 -3.66
2010 -3.26 0.45 0.61 0.95 0.01 0.62 -1.02 1.07 1.82 6.98 -2.51 6.68 12.56
2009 -0.61 1.08 -2.27 -3.32 -0.58 0.15 -3.23 0.75 1.44 -2.31 4.84 -3.83 -7.93
2008 5.60 14.53 -1.73 -1.59 0.71 2.87 -5.61 -1.99 6.86 10.80 5.77 2.73 44.22
2007 -1.43 -1.76 -2.42 -0.79 0.71 -1.32 -3.16 -3.07 5.87 4.53 -2.13 2.29 -3.11
2006 0.00 -0.19 -1.07 0.75 -2.93 -4.12 2.73 0.73 -2.35 -0.24 -3.68 -10.10
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The Standard program is a diversified commodity portfolio that employs systematic trading methods. The program strategy is medium-to-long term trend following and is the result of proprietary research conducted by the principals. The approach is entirely rule-driven, eliminating any discretion or emotion in the execution of entries, exits, and position sizing. Commodities are chosen for their historic ability to trend and for their lack of correlation to traditional markets. Currently, 32 commodities, representing seven sectors are traded (the seven sectors represented are: energies, equity indices, interest rates, currencies, metals, grains, and softs). The system does not attempt to predict market direction, but rather applies a proprietary definition of trend and then enters and exits positions based on a set of predefined rules. The payoff of the approach resembles the payoff on a long volatility position spread across a diversified basket of commodities. Actual trading results and historical simulations indicate low or negative correlation to S&P returns.

Performance Statistics
Date Range: 01/06 - 05/17
  Program SP500 TR Altegris 40
Total Return 12.71% 146.39% 35.13%
Annualized Return 1.06% 8.22% 2.67%
Annualized Std. Deviation 11.02% 14.38% 9.00%
Correlation -0.24 0.62
Sharpe Ratio (rf=2.5%) -0.13 0.40 0.02
Worst Month -6.29% -16.79% -5.20%
Date of Worst Month 06/2012 10/2008 06/2015
Worst Drawdown -26.05% -50.95% -15.74%
Date of Worst Drawdown 4/11 - 5/14 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 01/06 - 05/17
Year or YTD Program SP500 TR Altegris 40
2017 -8.54 8.68 -1.02
2016 0.91 11.98 -3.13
2015 -7.47 1.41 0.09
2014 24.76 13.69 15.75
2013 -6.03 32.41 -2.45
2012 -10.24 15.98 -4.75
2011 -3.66 2.12 -3.23
2010 12.56 15.06 11.33
2009 -7.93 26.45 -7.98
2008 44.22 -36.99 15.47
2007 -3.11 5.50 7.18
2006 -10.10 12.80 4.70
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 01/06 - 05/17
Date: 5/31/2017
Perf: $1,325.96 Date: 4/30/2017
Perf: $1,323.45 Date: 3/31/2017
Perf: $1,331.44 Date: 2/28/2017
Perf: $1,351.16 Date: 1/31/2017
Perf: $1,322.34 Date: 12/31/2016
Perf: $1,339.62 Date: 11/30/2016
Perf: $1,329.51 Date: 10/31/2016
Perf: $1,344.30 Date: 9/30/2016
Perf: $1,379.90 Date: 8/31/2016
Perf: $1,397.94 Date: 7/31/2016
Perf: $1,436.58 Date: 6/30/2016
Perf: $1,422.08 Date: 5/31/2016
Perf: $1,364.10 Date: 4/30/2016
Perf: $1,388.40 Date: 3/31/2016
Perf: $1,424.14 Date: 2/29/2016
Perf: $1,466.22 Date: 1/31/2016
Perf: $1,431.02 Date: 12/31/2015
Perf: $1,382.90 Date: 11/30/2015
Perf: $1,415.45 Date: 10/31/2015
Perf: $1,368.78 Date: 9/30/2015
Perf: $1,393.02 Date: 8/31/2015
Perf: $1,363.43 Date: 7/31/2015
Perf: $1,387.43 Date: 6/30/2015
Perf: $1,335.22 Date: 5/31/2015
Perf: $1,408.46 Date: 4/30/2015
Perf: $1,418.68 Date: 3/31/2015
Perf: $1,475.64 Date: 2/28/2015
Perf: $1,443.73 Date: 1/31/2015
Perf: $1,446.05 Date: 12/31/2014
Perf: $1,381.66 Date: 11/30/2014
Perf: $1,357.76 Date: 10/31/2014
Perf: $1,281.51 Date: 9/30/2014
Perf: $1,262.95 Date: 8/31/2014
Perf: $1,244.41 Date: 7/31/2014
Perf: $1,193.90 Date: 6/30/2014
Perf: $1,203.53 Date: 5/31/2014
Perf: $1,193.27 Date: 4/30/2014
Perf: $1,163.49 Date: 3/31/2014
Perf: $1,154.71 Date: 2/28/2014
Perf: $1,172.06 Date: 1/31/2014
Perf: $1,162.52 Date: 12/31/2013
Perf: $1,193.68 Date: 11/30/2013
Perf: $1,195.35 Date: 10/31/2013
Perf: $1,174.10 Date: 9/30/2013
Perf: $1,147.82 Date: 8/31/2013
Perf: $1,154.74 Date: 7/31/2013
Perf: $1,177.35 Date: 6/30/2013
Perf: $1,187.68 Date: 5/31/2013
Perf: $1,234.47 Date: 4/30/2013
Perf: $1,289.94 Date: 3/31/2013
Perf: $1,257.49 Date: 2/28/2013
Perf: $1,239.64 Date: 1/31/2013
Perf: $1,246.87 Date: 12/31/2012
Perf: $1,223.62 Date: 11/30/2012
Perf: $1,217.66 Date: 10/31/2012
Perf: $1,214.26 Date: 9/30/2012
Perf: $1,259.87 Date: 8/31/2012
Perf: $1,281.00 Date: 7/31/2012
Perf: $1,298.66 Date: 6/30/2012
Perf: $1,247.64 Date: 5/31/2012
Perf: $1,296.38 Date: 4/30/2012
Perf: $1,272.21 Date: 3/31/2012
Perf: $1,264.62 Date: 2/29/2012
Perf: $1,293.99 Date: 1/31/2012
Perf: $1,288.71 Date: 12/31/2011
Perf: $1,284.60 Date: 11/30/2011
Perf: $1,272.38 Date: 10/31/2011
Perf: $1,268.58 Date: 9/30/2011
Perf: $1,320.89 Date: 8/31/2011
Perf: $1,321.68 Date: 7/31/2011
Perf: $1,324.33 Date: 6/30/2011
Perf: $1,278.43 Date: 5/31/2011
Perf: $1,312.56 Date: 4/30/2011
Perf: $1,362.28 Date: 3/31/2011
Perf: $1,311.15 Date: 2/28/2011
Perf: $1,331.52 Date: 1/31/2011
Perf: $1,309.26 Date: 12/31/2010
Perf: $1,327.45 Date: 11/30/2010
Perf: $1,272.84 Date: 10/31/2010
Perf: $1,319.55 Date: 9/30/2010
Perf: $1,270.27 Date: 8/31/2010
Perf: $1,247.56 Date: 7/31/2010
Perf: $1,197.97 Date: 6/30/2010
Perf: $1,213.62 Date: 5/31/2010
Perf: $1,209.03 Date: 4/30/2010
Perf: $1,239.01 Date: 3/31/2010
Perf: $1,220.22 Date: 2/28/2010
Perf: $1,173.63 Date: 1/31/2010
Perf: $1,162.70 Date: 12/31/2009
Perf: $1,192.39 Date: 11/30/2009
Perf: $1,242.07 Date: 10/31/2009
Perf: $1,193.96 Date: 9/30/2009
Perf: $1,225.32 Date: 8/31/2009
Perf: $1,196.84 Date: 7/31/2009
Perf: $1,192.90 Date: 6/30/2009
Perf: $1,194.22 Date: 5/31/2009
Perf: $1,226.85 Date: 4/30/2009
Perf: $1,210.15 Date: 3/31/2009
Perf: $1,251.06 Date: 2/28/2009
Perf: $1,286.70 Date: 1/31/2009
Perf: $1,287.34 Date: 12/31/2008
Perf: $1,295.77 Date: 11/30/2008
Perf: $1,263.30 Date: 10/31/2008
Perf: $1,218.58 Date: 9/30/2008
Perf: $1,158.90 Date: 8/31/2008
Perf: $1,156.47 Date: 7/31/2008
Perf: $1,188.19 Date: 6/30/2008
Perf: $1,245.35 Date: 5/31/2008
Perf: $1,212.97 Date: 4/30/2008
Perf: $1,188.48 Date: 3/31/2008
Perf: $1,202.31 Date: 2/29/2008
Perf: $1,207.62 Date: 1/31/2008
Perf: $1,142.61 Date: 12/31/2007
Perf: $1,122.19 Date: 11/30/2007
Perf: $1,124.77 Date: 10/31/2007
Perf: $1,132.13 Date: 9/30/2007
Perf: $1,085.35 Date: 8/31/2007
Perf: $1,036.93 Date: 7/31/2007
Perf: $1,077.10 Date: 6/30/2007
Perf: $1,111.45 Date: 5/31/2007
Perf: $1,080.23 Date: 4/30/2007
Perf: $1,042.99 Date: 3/31/2007
Perf: $1,000.95 Date: 2/28/2007
Perf: $1,024.94 Date: 1/31/2007
Perf: $1,064.87 Date: 12/31/2006
Perf: $1,046.97 Date: 11/30/2006
Perf: $1,012.74 Date: 10/31/2006
Perf: $988.52 Date: 9/30/2006
Perf: $977.76 Date: 8/31/2006
Perf: $988.24 Date: 7/31/2006
Perf: $977.29 Date: 6/30/2006
Perf: $991.97 Date: 5/31/2006
Perf: $1,005.75 Date: 4/30/2006
Perf: $1,033.13 Date: 3/31/2006
Perf: $1,008.52 Date: 2/28/2006
Perf: $982.20 Date: 1/31/2006
Perf: $1,000.00 Date: 5/31/2017
Perf: $2,400.28 Date: 4/30/2017
Perf: $2,366.90 Date: 3/31/2017
Perf: $2,342.77 Date: 2/28/2017
Perf: $2,339.96 Date: 1/31/2017
Perf: $2,250.62 Date: 12/31/2016
Perf: $2,208.65 Date: 11/30/2016
Perf: $2,165.77 Date: 10/31/2016
Perf: $2,088.49 Date: 9/30/2016
Perf: $2,127.21 Date: 8/31/2016
Perf: $2,126.78 Date: 7/31/2016
Perf: $2,123.81 Date: 6/30/2016
Perf: $2,048.23 Date: 5/31/2016
Perf: $2,042.92 Date: 4/30/2016
Perf: $2,006.80 Date: 3/31/2016
Perf: $1,999.00 Date: 2/29/2016
Perf: $1,872.07 Date: 1/31/2016
Perf: $1,874.51 Date: 12/31/2015
Perf: $1,972.34 Date: 11/30/2015
Perf: $2,004.00 Date: 10/31/2015
Perf: $1,998.01 Date: 9/30/2015
Perf: $1,842.50 Date: 8/31/2015
Perf: $1,889.16 Date: 7/31/2015
Perf: $2,010.39 Date: 6/30/2015
Perf: $1,969.04 Date: 5/31/2015
Perf: $2,008.00 Date: 4/30/2015
Perf: $1,982.42 Date: 3/31/2015
Perf: $1,963.57 Date: 2/28/2015
Perf: $1,995.09 Date: 1/31/2015
Perf: $1,886.61 Date: 12/31/2014
Perf: $1,944.96 Date: 11/30/2014
Perf: $1,949.84 Date: 10/31/2014
Perf: $1,898.76 Date: 9/30/2014
Perf: $1,853.53 Date: 8/31/2014
Perf: $1,879.85 Date: 7/31/2014
Perf: $1,807.55 Date: 6/30/2014
Perf: $1,832.84 Date: 5/31/2014
Perf: $1,795.67 Date: 4/30/2014
Perf: $1,754.44 Date: 3/31/2014
Perf: $1,741.56 Date: 2/28/2014
Perf: $1,727.05 Date: 1/31/2014
Perf: $1,651.57 Date: 12/31/2013
Perf: $1,710.76 Date: 11/30/2013
Perf: $1,668.55 Date: 10/31/2013
Perf: $1,619.17 Date: 9/30/2013
Perf: $1,547.96 Date: 8/31/2013
Perf: $1,500.83 Date: 7/31/2013
Perf: $1,545.66 Date: 6/30/2013
Perf: $1,470.79 Date: 5/31/2013
Perf: $1,490.77 Date: 4/30/2013
Perf: $1,456.68 Date: 3/31/2013
Perf: $1,429.10 Date: 2/28/2013
Perf: $1,377.45 Date: 1/31/2013
Perf: $1,358.97 Date: 12/31/2012
Perf: $1,292.04 Date: 11/30/2012
Perf: $1,280.39 Date: 10/31/2012
Perf: $1,273.00 Date: 9/30/2012
Perf: $1,297.00 Date: 8/31/2012
Perf: $1,264.38 Date: 7/31/2012
Perf: $1,236.55 Date: 6/30/2012
Perf: $1,219.60 Date: 5/31/2012
Perf: $1,171.34 Date: 4/30/2012
Perf: $1,246.24 Date: 3/31/2012
Perf: $1,254.14 Date: 2/29/2012
Perf: $1,214.20 Date: 1/31/2012
Perf: $1,163.91 Date: 12/31/2011
Perf: $1,114.01 Date: 11/30/2011
Perf: $1,102.76 Date: 10/31/2011
Perf: $1,105.19 Date: 9/30/2011
Perf: $996.30 Date: 8/31/2011
Perf: $1,071.63 Date: 7/31/2011
Perf: $1,133.16 Date: 6/30/2011
Perf: $1,156.64 Date: 5/31/2011
Perf: $1,176.29 Date: 4/30/2011
Perf: $1,189.73 Date: 3/31/2011
Perf: $1,155.53 Date: 2/28/2011
Perf: $1,155.06 Date: 1/31/2011
Perf: $1,116.76 Date: 12/31/2010
Perf: $1,090.90 Date: 11/30/2010
Perf: $1,022.60 Date: 10/31/2010
Perf: $1,022.49 Date: 9/30/2010
Perf: $984.97 Date: 8/31/2010
Perf: $904.30 Date: 7/31/2010
Perf: $947.01 Date: 6/30/2010
Perf: $884.98 Date: 5/31/2010
Perf: $933.81 Date: 4/30/2010
Perf: $1,014.91 Date: 3/31/2010
Perf: $999.12 Date: 2/28/2010
Perf: $942.30 Date: 1/31/2010
Perf: $913.97 Date: 12/31/2009
Perf: $948.10 Date: 11/30/2009
Perf: $930.15 Date: 10/31/2009
Perf: $877.50 Date: 9/30/2009
Perf: $894.13 Date: 8/31/2009
Perf: $861.97 Date: 7/31/2009
Perf: $831.94 Date: 6/30/2009
Perf: $773.47 Date: 5/31/2009
Perf: $771.92 Date: 4/30/2009
Perf: $731.06 Date: 3/31/2009
Perf: $667.21 Date: 2/28/2009
Perf: $613.47 Date: 1/31/2009
Perf: $686.59 Date: 12/31/2008
Perf: $749.80 Date: 11/30/2008
Perf: $741.93 Date: 10/31/2008
Perf: $799.32 Date: 9/30/2008
Perf: $960.61 Date: 8/31/2008
Perf: $1,054.57 Date: 7/31/2008
Perf: $1,039.50 Date: 6/30/2008
Perf: $1,048.30 Date: 5/31/2008
Perf: $1,144.81 Date: 4/30/2008
Perf: $1,130.12 Date: 3/31/2008
Perf: $1,077.64 Date: 2/29/2008
Perf: $1,082.29 Date: 1/31/2008
Perf: $1,118.65 Date: 12/31/2007
Perf: $1,190.05 Date: 11/30/2007
Perf: $1,198.32 Date: 10/31/2007
Perf: $1,250.60 Date: 9/30/2007
Perf: $1,231.02 Date: 8/31/2007
Perf: $1,186.64 Date: 7/31/2007
Perf: $1,169.11 Date: 6/30/2007
Perf: $1,206.51 Date: 5/31/2007
Perf: $1,226.87 Date: 4/30/2007
Perf: $1,185.50 Date: 3/31/2007
Perf: $1,135.21 Date: 2/28/2007
Perf: $1,122.64 Date: 1/31/2007
Perf: $1,145.08 Date: 12/31/2006
Perf: $1,128.05 Date: 11/30/2006
Perf: $1,112.47 Date: 10/31/2006
Perf: $1,091.73 Date: 9/30/2006
Perf: $1,057.26 Date: 8/31/2006
Perf: $1,030.67 Date: 7/31/2006
Perf: $1,006.71 Date: 6/30/2006
Perf: $1,000.51 Date: 5/31/2006
Perf: $999.11 Date: 4/30/2006
Perf: $1,028.74 Date: 3/31/2006
Perf: $1,015.13 Date: 2/28/2006
Perf: $1,002.70 Date: 1/31/2006
Perf: $1,000.00 Date: 5/31/2017
Perf: $1,127.10 Date: 4/30/2017
Perf: $1,133.11 Date: 3/31/2017
Perf: $1,149.08 Date: 2/28/2017
Perf: $1,164.80 Date: 1/31/2017
Perf: $1,187.24 Date: 12/31/2016
Perf: $1,232.35 Date: 11/30/2016
Perf: $1,233.95 Date: 10/31/2016
Perf: $1,201.74 Date: 9/30/2016
Perf: $1,218.07 Date: 8/31/2016
Perf: $1,231.12 Date: 7/31/2016
Perf: $1,250.50 Date: 6/30/2016
Perf: $1,220.71 Date: 5/31/2016
Perf: $1,213.91 Date: 4/30/2016
Perf: $1,237.68 Date: 3/31/2016
Perf: $1,194.67 Date: 2/29/2016
Perf: $1,256.62 Date: 1/31/2016
Perf: $1,218.60 Date: 12/31/2015
Perf: $1,221.29 Date: 11/30/2015
Perf: $1,213.28 Date: 10/31/2015
Perf: $1,183.00 Date: 9/30/2015
Perf: $1,216.45 Date: 8/31/2015
Perf: $1,213.29 Date: 7/31/2015
Perf: $1,239.83 Date: 6/30/2015
Perf: $1,296.35 Date: 5/31/2015
Perf: $1,320.65 Date: 4/30/2015
Perf: $1,348.01 Date: 3/31/2015
Perf: $1,361.35 Date: 2/28/2015
Perf: $1,354.98 Date: 1/31/2015
Perf: $1,381.65 Date: 12/31/2014
Perf: $1,319.88 Date: 11/30/2014
Perf: $1,266.80 Date: 10/31/2014
Perf: $1,183.37 Date: 9/30/2014
Perf: $1,192.68 Date: 8/31/2014
Perf: $1,098.63 Date: 7/31/2014
Perf: $1,057.19 Date: 6/30/2014
Perf: $1,061.76 Date: 5/31/2014
Perf: $1,034.35 Date: 4/30/2014
Perf: $1,067.55 Date: 3/31/2014
Perf: $1,033.94 Date: 2/28/2014
Perf: $1,053.32 Date: 1/31/2014
Perf: $1,036.53 Date: 12/31/2013
Perf: $1,057.90 Date: 11/30/2013
Perf: $1,061.72 Date: 10/31/2013
Perf: $1,061.30 Date: 9/30/2013
Perf: $1,040.39 Date: 8/31/2013
Perf: $1,084.53 Date: 7/31/2013
Perf: $1,099.15 Date: 6/30/2013
Perf: $1,116.34 Date: 5/31/2013
Perf: $1,109.02 Date: 4/30/2013
Perf: $1,119.09 Date: 3/31/2013
Perf: $1,108.12 Date: 2/28/2013
Perf: $1,105.03 Date: 1/31/2013
Perf: $1,130.23 Date: 12/31/2012
Perf: $1,125.73 Date: 11/30/2012
Perf: $1,116.68 Date: 10/31/2012
Perf: $1,143.91 Date: 9/30/2012
Perf: $1,164.88 Date: 8/31/2012
Perf: $1,208.88 Date: 7/31/2012
Perf: $1,217.40 Date: 6/30/2012
Perf: $1,203.32 Date: 5/31/2012
Perf: $1,284.09 Date: 4/30/2012
Perf: $1,262.50 Date: 3/31/2012
Perf: $1,254.97 Date: 2/29/2012
Perf: $1,270.09 Date: 1/31/2012
Perf: $1,284.34 Date: 12/31/2011
Perf: $1,254.12 Date: 11/30/2011
Perf: $1,298.80 Date: 10/31/2011
Perf: $1,285.05 Date: 9/30/2011
Perf: $1,336.09 Date: 8/31/2011
Perf: $1,371.75 Date: 7/31/2011
Perf: $1,386.87 Date: 6/30/2011
Perf: $1,357.54 Date: 5/31/2011
Perf: $1,379.90 Date: 4/30/2011
Perf: $1,398.22 Date: 3/31/2011
Perf: $1,343.28 Date: 2/28/2011
Perf: $1,359.04 Date: 1/31/2011
Perf: $1,319.84 Date: 12/31/2010
Perf: $1,301.75 Date: 11/30/2010
Perf: $1,220.24 Date: 10/31/2010
Perf: $1,251.65 Date: 9/30/2010
Perf: $1,169.99 Date: 8/31/2010
Perf: $1,149.07 Date: 7/31/2010
Perf: $1,136.91 Date: 6/30/2010
Perf: $1,148.62 Date: 5/31/2010
Perf: $1,141.55 Date: 4/30/2010
Perf: $1,141.43 Date: 3/31/2010
Perf: $1,130.69 Date: 2/28/2010
Perf: $1,123.84 Date: 1/31/2010
Perf: $1,118.80 Date: 12/31/2009
Perf: $1,156.50 Date: 11/30/2009
Perf: $1,202.56 Date: 10/31/2009
Perf: $1,147.04 Date: 9/30/2009
Perf: $1,174.17 Date: 8/31/2009
Perf: $1,157.50 Date: 7/31/2009
Perf: $1,148.88 Date: 6/30/2009
Perf: $1,187.23 Date: 5/31/2009
Perf: $1,185.45 Date: 4/30/2009
Perf: $1,192.37 Date: 3/31/2009
Perf: $1,233.31 Date: 2/28/2009
Perf: $1,261.96 Date: 1/31/2009
Perf: $1,248.48 Date: 12/31/2008
Perf: $1,256.14 Date: 11/30/2008
Perf: $1,222.76 Date: 10/31/2008
Perf: $1,156.05 Date: 9/30/2008
Perf: $1,043.37 Date: 8/31/2008
Perf: $976.39 Date: 7/31/2008
Perf: $996.21 Date: 6/30/2008
Perf: $1,055.42 Date: 5/31/2008
Perf: $1,025.98 Date: 4/30/2008
Perf: $1,018.75 Date: 3/31/2008
Perf: $1,035.20 Date: 2/29/2008
Perf: $1,053.43 Date: 1/31/2008
Perf: $919.78 Date: 12/31/2007
Perf: $871.01 Date: 11/30/2007
Perf: $851.51 Date: 10/31/2007
Perf: $870.04 Date: 9/30/2007
Perf: $832.34 Date: 8/31/2007
Perf: $786.19 Date: 7/31/2007
Perf: $811.09 Date: 6/30/2007
Perf: $837.55 Date: 5/31/2007
Perf: $848.76 Date: 4/30/2007
Perf: $842.77 Date: 3/31/2007
Perf: $849.48 Date: 2/28/2007
Perf: $870.55 Date: 1/31/2007
Perf: $886.15 Date: 12/31/2006
Perf: $899.00 Date: 11/30/2006
Perf: $933.35 Date: 10/31/2006
Perf: $935.60 Date: 9/30/2006
Perf: $958.11 Date: 8/31/2006
Perf: $951.17 Date: 7/31/2006
Perf: $925.89 Date: 6/30/2006
Perf: $965.68 Date: 5/31/2006
Perf: $994.83 Date: 4/30/2006
Perf: $987.42 Date: 3/31/2006
Perf: $998.10 Date: 2/28/2006
Perf: $1,000.00 Date: 1/31/2006
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 01/06 - 05/17
Date: 5/31/2017
Return: -0.53 % Date: 4/30/2017
Return: -1.39 % Date: 3/31/2017
Return: -1.35 % Date: 2/28/2017
Return: -1.89 % Date: 1/31/2017
Return: -3.66 % Date: 12/31/2016
Return: -0.13 % Date: 11/30/2016
Return: 2.68 % Date: 10/31/2016
Return: -1.34 % Date: 9/30/2016
Return: -1.06 % Date: 8/31/2016
Return: -1.55 % Date: 7/31/2016
Return: 2.44 % Date: 6/30/2016
Return: 0.56 % Date: 5/31/2016
Return: -1.92 % Date: 4/30/2016
Return: 3.60 % Date: 3/31/2016
Return: -4.93 % Date: 2/29/2016
Return: 3.12 % Date: 1/31/2016
Return: -0.22 % Date: 12/31/2015
Return: 0.66 % Date: 11/30/2015
Return: 2.56 % Date: 10/31/2015
Return: -2.75 % Date: 9/30/2015
Return: 0.26 % Date: 8/31/2015
Return: -2.14 % Date: 7/31/2015
Return: -4.36 % Date: 6/30/2015
Return: -1.84 % Date: 5/31/2015
Return: -2.03 % Date: 4/30/2015
Return: -0.98 % Date: 3/31/2015
Return: 0.47 % Date: 2/28/2015
Return: -1.93 % Date: 1/31/2015
Return: 4.68 % Date: 12/31/2014
Return: 4.19 % Date: 11/30/2014
Return: 7.05 % Date: 10/31/2014
Return: -0.78 % Date: 9/30/2014
Return: 8.56 % Date: 8/31/2014
Return: 3.92 % Date: 7/31/2014
Return: -0.43 % Date: 6/30/2014
Return: 2.65 % Date: 5/31/2014
Return: -3.11 % Date: 4/30/2014
Return: 3.25 % Date: 3/31/2014
Return: -1.84 % Date: 2/28/2014
Return: 1.62 % Date: 1/31/2014
Return: -2.02 % Date: 12/31/2013
Return: -0.36 % Date: 11/30/2013
Return: 0.04 % Date: 10/31/2013
Return: 2.01 % Date: 9/30/2013
Return: -4.07 % Date: 8/31/2013
Return: -1.33 % Date: 7/31/2013
Return: -1.54 % Date: 6/30/2013
Return: 0.66 % Date: 5/31/2013
Return: -0.90 % Date: 4/30/2013
Return: 0.99 % Date: 3/31/2013
Return: 0.28 % Date: 2/28/2013
Return: -2.23 % Date: 1/31/2013
Return: 0.40 % Date: 12/31/2012
Return: 0.81 % Date: 11/30/2012
Return: -2.38 % Date: 10/31/2012
Return: -1.80 % Date: 9/30/2012
Return: -3.64 % Date: 8/31/2012
Return: -0.70 % Date: 7/31/2012
Return: 1.17 % Date: 6/30/2012
Return: -6.29 % Date: 5/31/2012
Return: 1.71 % Date: 4/30/2012
Return: 0.60 % Date: 3/31/2012
Return: -1.19 % Date: 2/29/2012
Return: -1.11 % Date: 1/31/2012
Return: 2.41 % Date: 12/31/2011
Return: -3.44 % Date: 11/30/2011
Return: 1.07 % Date: 10/31/2011
Return: -3.82 % Date: 9/30/2011
Return: -2.60 % Date: 8/31/2011
Return: -1.09 % Date: 7/31/2011
Return: 2.16 % Date: 6/30/2011
Return: -1.62 % Date: 5/31/2011
Return: -1.31 % Date: 4/30/2011
Return: 4.09 % Date: 3/31/2011
Return: -1.16 % Date: 2/28/2011
Return: 2.97 % Date: 1/31/2011
Return: 1.39 % Date: 12/31/2010
Return: 6.68 % Date: 11/30/2010
Return: -2.51 % Date: 10/31/2010
Return: 6.98 % Date: 9/30/2010
Return: 1.82 % Date: 8/31/2010
Return: 1.07 % Date: 7/31/2010
Return: -1.02 % Date: 6/30/2010
Return: 0.62 % Date: 5/31/2010
Return: 0.01 % Date: 4/30/2010
Return: 0.95 % Date: 3/31/2010
Return: 0.61 % Date: 2/28/2010
Return: 0.45 % Date: 1/31/2010
Return: -3.26 % Date: 12/31/2009
Return: -3.83 % Date: 11/30/2009
Return: 4.84 % Date: 10/31/2009
Return: -2.31 % Date: 9/30/2009
Return: 1.44 % Date: 8/31/2009
Return: 0.75 % Date: 7/31/2009
Return: -3.23 % Date: 6/30/2009
Return: 0.15 % Date: 5/31/2009
Return: -0.58 % Date: 4/30/2009
Return: -3.32 % Date: 3/31/2009
Return: -2.27 % Date: 2/28/2009
Return: 1.08 % Date: 1/31/2009
Return: -0.61 % Date: 12/31/2008
Return: 2.73 % Date: 11/30/2008
Return: 5.77 % Date: 10/31/2008
Return: 10.80 % Date: 9/30/2008
Return: 6.86 % Date: 8/31/2008
Return: -1.99 % Date: 7/31/2008
Return: -5.61 % Date: 6/30/2008
Return: 2.87 % Date: 5/31/2008
Return: 0.71 % Date: 4/30/2008
Return: -1.59 % Date: 3/31/2008
Return: -1.73 % Date: 2/29/2008
Return: 14.53 % Date: 1/31/2008
Return: 5.60 % Date: 12/31/2007
Return: 2.29 % Date: 11/30/2007
Return: -2.13 % Date: 10/31/2007
Return: 4.53 % Date: 9/30/2007
Return: 5.87 % Date: 8/31/2007
Return: -3.07 % Date: 7/31/2007
Return: -3.16 % Date: 6/30/2007
Return: -1.32 % Date: 5/31/2007
Return: 0.71 % Date: 4/30/2007
Return: -0.79 % Date: 3/31/2007
Return: -2.42 % Date: 2/28/2007
Return: -1.76 % Date: 1/31/2007
Return: -1.43 % Date: 12/31/2006
Return: -3.68 % Date: 11/30/2006
Return: -0.24 % Date: 10/31/2006
Return: -2.35 % Date: 9/30/2006
Return: 0.73 % Date: 8/31/2006
Return: 2.73 % Date: 7/31/2006
Return: -4.12 % Date: 6/30/2006
Return: -2.93 % Date: 5/31/2006
Return: 0.75 % Date: 4/30/2006
Return: -1.07 % Date: 3/31/2006
Return: -0.19 % Date: 2/28/2006
Return: 0.00 % Date: 1/31/2006
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 01/06 - 05/17
Return: -5.00 %
Count: 1 Return: 9.00 %
Count: 1 Return: 4.00 %
Count: 4 Return: 11.00 %
Count: 1 Return: 7.00 %
Count: 4 Return: -6.00 %
Count: 2 Return: 15.00 %
Count: 1 Return: 2.00 %
Count: 8 Return: 5.00 %
Count: 3 Return: 6.00 %
Count: 3 Return: -2.00 %
Count: 23 Return: 3.00 %
Count: 9 Return: -4.00 %
Count: 8 Return: -3.00 %
Count: 11 Return: 1.00 %
Count: 20 Return: -1.00 %
Count: 22 Return: 0.00 %
Count: 16
Note: All performance data is since program inception.

Underwater Curve
Date Range: 01/06 - 05/17
Date: 5/31/2017
Drawdown: -19.39 % Date: 4/30/2017
Drawdown: -18.96 % Date: 3/31/2017
Drawdown: -17.82 % Date: 2/28/2017
Drawdown: -16.69 % Date: 1/31/2017
Drawdown: -15.09 % Date: 12/31/2016
Drawdown: -11.86 % Date: 11/30/2016
Drawdown: -11.75 % Date: 10/31/2016
Drawdown: -14.05 % Date: 9/30/2016
Drawdown: -12.88 % Date: 8/31/2016
Drawdown: -11.95 % Date: 7/31/2016
Drawdown: -10.56 % Date: 6/30/2016
Drawdown: -12.69 % Date: 5/31/2016
Drawdown: -13.18 % Date: 4/30/2016
Drawdown: -11.48 % Date: 3/31/2016
Drawdown: -14.56 % Date: 2/29/2016
Drawdown: -10.13 % Date: 1/31/2016
Drawdown: -12.85 % Date: 12/31/2015
Drawdown: -12.65 % Date: 11/30/2015
Drawdown: -13.23 % Date: 10/31/2015
Drawdown: -15.39 % Date: 9/30/2015
Drawdown: -13.00 % Date: 8/31/2015
Drawdown: -13.23 % Date: 7/31/2015
Drawdown: -11.33 % Date: 6/30/2015
Drawdown: -7.29 % Date: 5/31/2015
Drawdown: -5.55 % Date: 4/30/2015
Drawdown: -3.59 % Date: 3/31/2015
Drawdown: -2.64 % Date: 2/28/2015
Drawdown: -3.09 % Date: 1/31/2015
Drawdown: -1.18 % Date: 12/31/2014
Drawdown: -5.60 % Date: 11/30/2014
Drawdown: -9.40 % Date: 10/31/2014
Drawdown: -15.37 % Date: 9/30/2014
Drawdown: -14.70 % Date: 8/31/2014
Drawdown: -21.43 % Date: 7/31/2014
Drawdown: -24.39 % Date: 6/30/2014
Drawdown: -24.06 % Date: 5/31/2014
Drawdown: -26.02 % Date: 4/30/2014
Drawdown: -23.65 % Date: 3/31/2014
Drawdown: -26.05 % Date: 2/28/2014
Drawdown: -24.67 % Date: 1/31/2014
Drawdown: -25.87 % Date: 12/31/2013
Drawdown: -24.34 % Date: 11/30/2013
Drawdown: -24.07 % Date: 10/31/2013
Drawdown: -24.10 % Date: 9/30/2013
Drawdown: -25.59 % Date: 8/31/2013
Drawdown: -22.43 % Date: 7/31/2013
Drawdown: -21.39 % Date: 6/30/2013
Drawdown: -20.16 % Date: 5/31/2013
Drawdown: -20.68 % Date: 4/30/2013
Drawdown: -19.96 % Date: 3/31/2013
Drawdown: -20.75 % Date: 2/28/2013
Drawdown: -20.97 % Date: 1/31/2013
Drawdown: -19.17 % Date: 12/31/2012
Drawdown: -19.49 % Date: 11/30/2012
Drawdown: -20.14 % Date: 10/31/2012
Drawdown: -18.19 % Date: 9/30/2012
Drawdown: -16.69 % Date: 8/31/2012
Drawdown: -13.54 % Date: 7/31/2012
Drawdown: -12.93 % Date: 6/30/2012
Drawdown: -13.94 % Date: 5/31/2012
Drawdown: -8.16 % Date: 4/30/2012
Drawdown: -9.71 % Date: 3/31/2012
Drawdown: -10.24 % Date: 2/29/2012
Drawdown: -9.16 % Date: 1/31/2012
Drawdown: -8.14 % Date: 12/31/2011
Drawdown: -10.31 % Date: 11/30/2011
Drawdown: -7.11 % Date: 10/31/2011
Drawdown: -8.09 % Date: 9/30/2011
Drawdown: -4.44 % Date: 8/31/2011
Drawdown: -1.89 % Date: 7/31/2011
Drawdown: -0.81 % Date: 6/30/2011
Drawdown: -2.91 % Date: 5/31/2011
Drawdown: -1.31 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -1.16 % Date: 2/28/2011
Drawdown: 0.00 % Date: 1/31/2011
Drawdown: 0.00 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -3.31 % Date: 10/31/2010
Drawdown: -0.82 % Date: 9/30/2010
Drawdown: -7.29 % Date: 8/31/2010
Drawdown: -8.95 % Date: 7/31/2010
Drawdown: -9.91 % Date: 6/30/2010
Drawdown: -8.98 % Date: 5/31/2010
Drawdown: -9.54 % Date: 4/30/2010
Drawdown: -9.55 % Date: 3/31/2010
Drawdown: -10.40 % Date: 2/28/2010
Drawdown: -10.95 % Date: 1/31/2010
Drawdown: -11.34 % Date: 12/31/2009
Drawdown: -8.36 % Date: 11/30/2009
Drawdown: -4.71 % Date: 10/31/2009
Drawdown: -9.11 % Date: 9/30/2009
Drawdown: -6.96 % Date: 8/31/2009
Drawdown: -8.28 % Date: 7/31/2009
Drawdown: -8.96 % Date: 6/30/2009
Drawdown: -5.92 % Date: 5/31/2009
Drawdown: -6.06 % Date: 4/30/2009
Drawdown: -5.51 % Date: 3/31/2009
Drawdown: -2.27 % Date: 2/28/2009
Drawdown: 0.00 % Date: 1/31/2009
Drawdown: -0.61 % Date: 12/31/2008
Drawdown: 0.00 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: 0.00 % Date: 9/30/2008
Drawdown: -1.14 % Date: 8/31/2008
Drawdown: -7.49 % Date: 7/31/2008
Drawdown: -5.61 % Date: 6/30/2008
Drawdown: 0.00 % Date: 5/31/2008
Drawdown: -2.61 % Date: 4/30/2008
Drawdown: -3.29 % Date: 3/31/2008
Drawdown: -1.73 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: -8.02 % Date: 12/31/2007
Drawdown: -12.90 % Date: 11/30/2007
Drawdown: -14.85 % Date: 10/31/2007
Drawdown: -13.00 % Date: 9/30/2007
Drawdown: -16.77 % Date: 8/31/2007
Drawdown: -21.38 % Date: 7/31/2007
Drawdown: -18.89 % Date: 6/30/2007
Drawdown: -16.24 % Date: 5/31/2007
Drawdown: -15.12 % Date: 4/30/2007
Drawdown: -15.72 % Date: 3/31/2007
Drawdown: -15.05 % Date: 2/28/2007
Drawdown: -12.94 % Date: 1/31/2007
Drawdown: -11.39 % Date: 12/31/2006
Drawdown: -10.10 % Date: 11/30/2006
Drawdown: -6.66 % Date: 10/31/2006
Drawdown: -6.44 % Date: 9/30/2006
Drawdown: -4.19 % Date: 8/31/2006
Drawdown: -4.88 % Date: 7/31/2006
Drawdown: -7.41 % Date: 6/30/2006
Drawdown: -3.43 % Date: 5/31/2006
Drawdown: -0.52 % Date: 4/30/2006
Drawdown: -1.26 % Date: 3/31/2006
Drawdown: -0.19 % Date: 2/28/2006
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Auspice Capital Advisors, Ltd.
Address: Suite 510, 1000 7th Ave SW
City: Calgary
State: AL
Zip: T2P 5L5
Country: Canada
Key People
Name:  Ken Corner
Position:  Principal
Biography: 


Name:  Tim Pickering
Position:  Principal
Biography: 

Tim Pickering, President of Auspice, held previous senior trading roles at TD Securities and Shell Trading (V.P. Options Trading, North America).


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.