Schindler Capital Management, LLC : Institutional Dairy Advantage Program

Year-to-Date
7.86%
Aug Performance
-6.44%
Min Investment
$ 2,000k
Mgmt. Fee
2.00%
Perf. Fee
20.00%
Annualized Vol
11.93%
Sharpe (RFR=1%)
0.12
CAROR
1.77%
Assets
$ 2.1M
Worst DD
-18.64
S&P Correlation
0.22

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 Aug Qtr YTD 1yr 3yr 5yr 10yr Since
4/2017
Institutional Dairy Advantage Program -6.44 7.10 7.86 21.06 11.17 - - 6.17
S&P 500 7.01 14.98 8.34 19.61 40.39 - - 45.32
+/- S&P 500 -13.45 -7.88 -0.48 1.45 -29.22 - - -39.15

Strategy Description

Summary

The Advisor primarily uses fundamental analysis as opposed to using technical analysis to formulate his trading decisions. The Advisor intends to trade primarily Class III milk and other dairy futures. Fundamental analysis is the consideration of factors external to the market of... Read More

Account & Fees

Type Managed Account
Minimum Investment $ 2,000k
Trading Level Incremental Increase $ 1,000k
CTA Max Funding Factor 1.00
Management Fee 2.00%
Performance Fee 20.00%
Average Commission $25.00
Available to US Investors Yes

Subscriptions

High Water Mark Yes
Subscription Frequency Daily
Redemption Frequency Daily
Investor Requirements Any Investor
Lock-up Period 0

Trading

Trading Frequency 100 RT/YR/$M
Avg. Margin-to-Equity 5%
Targeted Worst DD
Worst Peak-to-Trough -18.57%
Sector Focus Agricultural Traders

Holding Periods

Over 12 Months 0%
4-12 Months 30.00%
1-3 Months 30.00%
1-30 Days 40.00%
Intraday 0%

Decision-Making

Discretionary 100.00%
Systematic 0%

Strategy

Fundamental
60.00%
Technical
20.00%
Trend-following
20.00%
Strategy Pie Chart

Composition

Other
100.00%
Composition Pie Chart

Summary

The Advisor primarily uses fundamental analysis as opposed to using technical analysis to formulate his trading decisions. The Advisor intends to trade primarily Class III milk and other dairy futures. Fundamental analysis is the consideration of factors external to the market of a particular instrument. For example, weather, imports/exports, and political events that affect the supply and demand of that particular instrument, in order to predict future prices of that instrument. The Advisor focuses on factors that affect the supply and demand of a particular commodity which are examined in order to predict future prices for markets included in its Advantage trading programs. For example, some of the fundamental factors affecting the dairy and grain markets include milk production statistics, dairy cow slaughter numbers, cost of feed, crop production, yield statistics, planting intentions and weather. Fundamental factors affecting demand include commercial disappearance of dairy and grain end-products, dairy and grain exports, historic and seasonal patterns, and general U.S. and world economic conditions. In addition to USDA and NASS weekly and monthly reports, the Advisor has developed a network of individual dairy and grain farmers across the country, commercial cheese operations and traders that help him come up with his bias on the market.

Investment Strategy

The Institutional Dairy Advantage program primarily involves buying and selling Class III Milk futures, but due to its much larger minimum account size, it offers meaningful participation in other dairy futures contracts such as cheese, butter, dry whey and nonfat dry milk futures contracts on United States regulated exchanges. This larger minimum account size also allows it to trade further out into the futures curve, where there is less liquidity.

Risk Management

Because of the low liquidity level of the markets the program trades, the main risk strategy is to keep a low position to cash ratio, which allows the program to ride most volatility. At most, the program will typically trade one futures contract per very $20,000 in funding.

   

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%)
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Compound RoR:
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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
-18.64 21 16 5/1/2017 2/1/2019
-6.44 1 - 7/1/2020 8/1/2020
-0.12 1 1 1/1/0001 4/1/2017
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Consecutive Gains

Run-up Length (Mos.) Start End
24.08 3 5/1/2020 7/1/2020
12.24 4 9/1/2019 12/1/2019
5.79 4 3/1/2019 6/1/2019
3.54 1 5/1/2017 5/1/2017
1.49 1 8/1/2018 8/1/2018
0.88 1 7/1/2017 7/1/2017
0.54 2 12/1/2017 1/1/2018
0.35 2 4/1/2018 5/1/2018
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Consecutive Losses

Run-up Length (Mos.) Start End
-8.78 4 8/1/2017 11/1/2017
-7.09 4 1/1/2020 4/1/2020
-6.44 1 8/1/2020 8/1/2020
-5.95 2 6/1/2018 7/1/2018
-4.69 6 9/1/2018 2/1/2019
-2.89 1 6/1/2017 6/1/2017
-1.47 2 7/1/2019 8/1/2019
-0.81 2 2/1/2018 3/1/2018
-0.12 1 4/1/2017 4/1/2017
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Time Windows Analysis

 1 Month3 Month6 Month12 Month18 Month2 Year
Number of Periods41.0039.0036.0030.0024.0018.00
Percent Profitable43.9046.1547.2246.6745.8350.00
Average Period Return0.200.910.581.801.591.56
Average Gain2.615.937.3213.4515.3712.28
Average Loss-1.68-3.38-5.44-8.39-10.08-9.16
Best Period13.2424.0815.4728.5334.7930.46
Worst Period-6.44-7.89-10.64-14.14-18.20-15.93
Standard Deviation3.446.987.5212.6215.3713.88
Gain Standard Deviation3.497.165.008.4610.9810.68
Loss Standard Deviation1.912.632.542.895.536.04
Sharpe Ratio (1%)0.030.100.010.060.01-0.03
Average Gain / Average Loss1.551.751.351.601.521.34
Profit / Loss Ratio1.211.501.201.401.291.34
Downside Deviation (10%)2.103.886.0410.0413.6014.59
Downside Deviation (5%)1.923.264.677.169.388.87
Downside Deviation (0%)1.883.124.346.468.397.63
Sortino Ratio (10%)-0.10-0.08-0.31-0.32-0.44-0.60
Sortino Ratio (5%)0.060.200.020.110.01-0.05
Sortino Ratio (0%)0.110.290.130.280.190.20

Top Performer Badges

Index Award Type Rank Performance Period

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