Dairy Opportunities LLC : Dairy Opportunities

archived programs
Year-to-Date
N / A
Feb Performance
-3.80%
Min Investment
$ 100k
Mgmt. Fee
0%
Perf. Fee
20.00%
Annualized Vol
20.11%
Sharpe (RFR=1%)
1.00
CAROR
21.04%
Assets
$ 3.0M
Worst DD
-18.13
S&P Correlation
0.07

Growth of 1,000 - VAMI

Monthly Performance

Export Data
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD DD

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Period Returns

Program / Index Feb Qtr YTD 1yr 3yr 5yr 10yr Since
4/2014
Dairy Opportunities -3.80 -3.31 - -11.67 - - - 74.53
S&P 500 3.72 7.50 - 22.33 - - - 25.46
+/- S&P 500 -7.52 -10.81 - -34.00 - - - 49.07

Strategy Description

Summary

The Dairy Opportunities Program (the “Program”) is a discretionary trading program managed by Joseph Schmit, Dairy Opportunities LLC’s (“Dairy Opportunities”) head trader and portfolio manager. At least 90% of the Program’s trades are placed in the dairy futures/options market. The... Read More

Account & Fees

Type
Managed Account
Minimum Investment
$ 100k
Trading Level Incremental Increase
$ 0k
CTA Max Funding Factor
Management Fee
0%
Performance Fee
20.00%
Average Commission
$35.00
Available to US Investors
Yes

Subscriptions

High Water Mark
Yes
Subscription Frequency
15-30 Days
Redemption Frequency
15-30 Days
Investor Requirements
QEP
Lock-up Period
0

Trading

Trading Frequency
167 RT/YR/$M
Avg. Margin-to-Equity
8%
Targeted Worst DD
70.68%
Worst Peak-to-Trough
-70.68%
Sector Focus
Agricultural Traders

Holding Periods

Over 12 Months
0%
4-12 Months
5.00%
1-3 Months
50.00%
1-30 Days
45.00%
Intraday
0%

Decision-Making

Discretionary
100.00%
Systematic
0%

Strategy

Fundamental
50.00%
Option-purchasing
10.00%
Option-spreads
5.00%
Option-writing
10.00%
Trend-following
25.00%
Strategy Pie Chart

Composition

Other
100.00%
Composition Pie Chart

Summary

The Dairy Opportunities Program (the “Program”) is a discretionary trading program managed by Joseph Schmit, Dairy Opportunities LLC’s (“Dairy Opportunities”) head trader and portfolio manager. At least 90% of the Program’s trades are placed in the dairy futures/options market. The trader reserves the right to allocate a small percentage of trades to the grain and livestock futures markets if favorable conditions exist. The Program is completely discretionary, meaning trading decisions are made based on Joe’s analysis of market information and conditions. In 1998, Joe traded his first dairy futures contract while serving as the Iowa Grain Company desk manager. Soon after, he began to trade his own account, as well as holding trading authority for several client accounts. As the dairy market matured, he developed a proven trading style that has delivered positive results over time while mitigating risk. Joe acted as an independent floor broker from 2000-2007. In 2007, he became an AP of Rice Dairy where he continued to grow assets under management. In 2009, Joe launched Dairy Opportunities, a Commodity Trading Advisor. Pete Turk and Brian Rice joined the Dairy Opportunities team as partners in 2013. From inception, Dairy Opportunities maintained a 35-50% margin/equity ratio. In April 2014, the margin/equity ratio was lowered to 7-14%. Today, Joe holds a Series 3 license, and is a registered AP and partner of Rice Dairy, while continuing to serve as a principal and the sole trader of Dairy Opportunities CTA.

Investment Strategy

The objective of Dairy Opportunities' General program is to achieve substantial capital appreciation through trading in the agricultural futures and options markets, with an emphasis on trading in the dairy futures and options contracts traded at the CME. The program is almost completely discretionary, meaning trading decisions are made based on the Advisor's analysis of market information and conditions.

The Advisor believes that commodity price changes occur due to changing fundamental factors and seeks to profit from longer term trends that develop due to those changing factors. Trading decisions are mostly made based on an analysis of fundamental factors, including government agricultural reports, international market conditions, supply and demand and consultation with persons involved in the dairy industry. The Advisor will also rely on its extensive knowledge of the dairy industry and trading experience when determining entry and exit points. Some technical analysis may be used to assess overall market trends, including the consultation of daily, weekly, and monthly charts. The Advisor anticipates over 90% of the program's trades occurring in the dairy market, with the remaining trades taking place in the grain and livestock markets.

Positions in dairy futures are generally held anywhere from two weeks to two months. Positions in other markets are generally held for a few days. Dairy Opportunities will usually maintain a position as long as the Advisor believes that market direction has been confirmed or when the direction of the market is about to change. Many positions are held to the contract expiration and therefore offset at the cash settlement price. Additional positions may also be acquired as profits accumulate and some existing positions may be "rolled over" when a contract expires unless market conditions dictate otherwise.

Risk Management

Risk management is of the utmost importance and is reviewed for every open position. Limits on risk per position will vary according to a total assessment of all factors involved in the position. Generally, a single position will be closed if Dairy Opportunities believes the market is not moving in the direction anticipated, however, there are no established parameters as to how much equity may be risked for each trade, and greater risk may be assumed at Dairy Opportunities' sole discretion. Option contracts may also be used to hedge open futures positions against adverse price movements. Please note that while Dairy Opportunities attempts to adhere to risk management techniques, there can be no assurances that these will be successful.

   

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Reward
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Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:
Reward
Compound RoR:
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Average Gain:
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Risk
Standard Deviation:
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Sharpe Ratio: (RF=1%)
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Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Note: Figures shown in the Monthly column are the greatest figures (or worst for losses/drawdowns) for any particular month. The Annual figures are the greatest for any calendar year.

Drawdown Report

Depth Length (Mos.) Recovery (Mos.) Peak Valley
-18.13 24 - 2/1/2015 2/1/2017
-0.87 1 1 12/1/2014 1/1/2015
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Consecutive Gains

Run-up Length (Mos.) Start End
107.23 9 4/1/2014 12/1/2014
10.97 2 4/1/2016 5/1/2016
5.27 3 6/1/2015 8/1/2015
4.98 2 10/1/2015 11/1/2015
3.77 1 2/1/2015 2/1/2015
3.49 3 10/1/2016 12/1/2016
3.34 1 2/1/2016 2/1/2016
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Consecutive Losses

Run-up Length (Mos.) Start End
-17.34 4 6/1/2016 9/1/2016
-7.85 3 3/1/2015 5/1/2015
-7.49 1 9/1/2015 9/1/2015
-4.79 2 12/1/2015 1/1/2016
-4.02 2 1/1/2017 2/1/2017
-3.06 1 3/1/2016 3/1/2016
-0.87 1 1/1/2015 1/1/2015
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Time Windows Analysis

 3 Year4 Year5 Year1 Month3 Month6 Month12 Month18 Month
Number of Periods55.0043.0031.007.0035.0033.0030.0024.0018.00
Percent Profitable60.0060.4780.65100.0060.0057.5846.6745.8350.00
Average Period Return61.5955.07118.89107.131.775.8311.6615.2318.42
Average Gain116.10101.66152.62107.135.1413.9431.6943.5449.33
Average Loss-20.19-16.18-21.64-3.30-5.18-5.87-8.72-12.49
Best Period295.60324.77339.95160.5616.7745.7876.38108.3191.31
Worst Period-58.21-43.73-43.5484.08-14.30-16.26-15.08-13.92-16.50
Standard Deviation94.3594.17114.0527.355.8114.4828.5437.0639.10
Gain Standard Deviation84.9595.19100.4827.354.3213.9331.3839.0333.00
Loss Standard Deviation14.7114.1413.913.654.504.382.693.05
Sharpe Ratio (1%)0.620.541.003.650.290.390.390.380.43
Average Gain / Average Loss5.756.287.051.562.695.404.993.95
Profit / Loss Ratio8.639.6129.392.343.654.724.223.95
Downside Deviation (10%)24.5225.3622.423.235.056.8510.3014.35
Downside Deviation (5%)17.2715.3713.023.094.535.597.4010.10
Downside Deviation (0%)15.6813.3411.043.054.405.296.709.06
Sortino Ratio (10%)1.871.324.070.420.911.340.990.75
Sortino Ratio (5%)3.393.328.740.541.232.001.921.67
Sortino Ratio (0%)3.934.1310.770.581.322.202.282.03

Top Performer Badges

Index Award Type Rank Performance Period
Agricultural Trader Index Month 9 0.61 11/2016
Agricultural Trader Index Month 2 2.11 10/2016
Agricultural Trader Index Month 7 2.79 5/2016
IASG CTA Index Month 7 7.96 4/2016
Agricultural Trader Index Month 3 7.96 4/2016
Discretionary Trader Index Month 4 7.96 4/2016
Agricultural Trader Index Month 5 3.34 2/2016

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.