Altegris Clearing Solutions Eco Capital Management, LLC Global Opportunities Program *QEP*
Monthly Performance (%)
Date Range: 08/07 - 12/16
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2016 7.68 0.10 -4.46 0.21 1.30 3.16 1.42 -4.32 -3.59 -2.88 0.58 1.80 0.33
2015 5.00 -0.78 -0.11 -4.14 2.62 -1.51 -0.17 2.81 -1.23 0.20 1.45 -4.76 -1.05
2014 3.82 0.16 -1.74 -2.99 -4.74 3.86 1.85 -1.44 6.95 -2.55 2.46 0.82 5.99
2013 1.75 -2.24 1.96 5.82 -0.04 1.93 -3.44 3.20 1.11 1.73 0.04 -0.36 11.72
2012 -0.32 -2.16 0.49 -0.89 6.86 1.17 -0.09 -2.37 1.86 -4.88 2.32 4.54 6.16
2011 -3.60 2.92 -0.02 4.83 -2.83 -0.97 2.96 -3.61 0.74 -1.27 -0.57 1.04 -0.77
2010 -0.82 -0.25 6.55 1.10 -1.15 0.64 -2.08 6.75 1.65 -0.79 1.01 4.30 17.74
2009 2.90 -0.92 -0.63 -4.16 -4.95 -0.51 0.91 1.43 1.05 1.37 0.43 1.76 -1.62
2008 4.00 4.45 -0.82 -1.04 3.56 1.84 -2.48 -1.42 -3.08 -0.55 1.35 0.37 5.99
2007 2.67 0.87 -1.10 3.91 6.43
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

eco Global Opportunities Program is a systematic multi-model futures program with the objective of capturing short-term directional momentum that tends to accompany volatility expansion regardless of long-term market trend. The individual models seek to determine a favorable environment along with a directional bias entering the market at an early stage of price expansion. The portfolio as a whole is governed by both a Concentrated Exposure filter and Volatility Targeting filter that assess the individual model and market states, dynamically adjusting trade and market exposure with the aim of moderating clusters of correlated portfolio risk and stabilizing volatility over time. The portfolio is comprised of 38 global futures products covering Asia, Europe and the US and has an average hold of less than 5 days.

Performance Statistics
Date Range: 08/07 - 12/16
  Program SP500 TR Altegris 40
Total Return 61.82% 88.92% 24.37%
Annualized Return 5.29% 6.99% 2.34%
Annualized Std. Deviation 9.68% 15.51% 9.20%
Correlation -0.13 0.45
Sharpe Ratio (rf=2.5%) 0.29 0.29 -0.02
Worst Month -4.95% -16.79% -5.20%
Date of Worst Month 05/2009 10/2008 06/2015
Worst Drawdown -13.45% -50.95% -15.74%
Date of Worst Drawdown 6/08 - 6/09 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 08/07 - 12/16
Year or YTD Program SP500 TR Altegris 40
2016 0.33 11.98 -3.13
2015 -1.05 1.41 0.09
2014 5.99 13.69 15.75
2013 11.72 32.41 -2.45
2012 6.16 15.98 -4.75
2011 -0.77 2.12 -3.23
2010 17.74 15.06 11.33
2009 -1.62 26.45 -7.98
2008 5.99 -36.99 15.47
2007 6.43 0.29 8.22
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 08/07 - 12/16
Date: 12/31/2016
Perf: $1,291.91 Date: 11/30/2016
Perf: $1,282.17 Date: 10/31/2016
Perf: $1,296.43 Date: 9/30/2016
Perf: $1,330.76 Date: 8/31/2016
Perf: $1,348.15 Date: 7/31/2016
Perf: $1,385.42 Date: 6/30/2016
Perf: $1,371.43 Date: 5/31/2016
Perf: $1,315.52 Date: 4/30/2016
Perf: $1,338.95 Date: 3/31/2016
Perf: $1,373.43 Date: 2/29/2016
Perf: $1,414.01 Date: 1/31/2016
Perf: $1,380.06 Date: 12/31/2015
Perf: $1,333.65 Date: 11/30/2015
Perf: $1,365.04 Date: 10/31/2015
Perf: $1,320.03 Date: 9/30/2015
Perf: $1,343.41 Date: 8/31/2015
Perf: $1,314.87 Date: 7/31/2015
Perf: $1,338.02 Date: 6/30/2015
Perf: $1,287.67 Date: 5/31/2015
Perf: $1,358.30 Date: 4/30/2015
Perf: $1,368.15 Date: 3/31/2015
Perf: $1,423.09 Date: 2/28/2015
Perf: $1,392.32 Date: 1/31/2015
Perf: $1,394.55 Date: 12/31/2014
Perf: $1,332.45 Date: 11/30/2014
Perf: $1,309.41 Date: 10/31/2014
Perf: $1,235.87 Date: 9/30/2014
Perf: $1,217.97 Date: 8/31/2014
Perf: $1,200.09 Date: 7/31/2014
Perf: $1,151.39 Date: 6/30/2014
Perf: $1,160.67 Date: 5/31/2014
Perf: $1,150.77 Date: 4/30/2014
Perf: $1,122.05 Date: 3/31/2014
Perf: $1,113.59 Date: 2/28/2014
Perf: $1,130.31 Date: 1/31/2014
Perf: $1,121.12 Date: 12/31/2013
Perf: $1,151.17 Date: 11/30/2013
Perf: $1,152.78 Date: 10/31/2013
Perf: $1,132.29 Date: 9/30/2013
Perf: $1,106.94 Date: 8/31/2013
Perf: $1,113.62 Date: 7/31/2013
Perf: $1,135.42 Date: 6/30/2013
Perf: $1,145.38 Date: 5/31/2013
Perf: $1,190.50 Date: 4/30/2013
Perf: $1,244.00 Date: 3/31/2013
Perf: $1,212.71 Date: 2/28/2013
Perf: $1,195.49 Date: 1/31/2013
Perf: $1,202.47 Date: 12/31/2012
Perf: $1,180.05 Date: 11/30/2012
Perf: $1,174.29 Date: 10/31/2012
Perf: $1,171.01 Date: 9/30/2012
Perf: $1,215.00 Date: 8/31/2012
Perf: $1,235.38 Date: 7/31/2012
Perf: $1,252.41 Date: 6/30/2012
Perf: $1,203.20 Date: 5/31/2012
Perf: $1,250.21 Date: 4/30/2012
Perf: $1,226.90 Date: 3/31/2012
Perf: $1,219.58 Date: 2/29/2012
Perf: $1,247.91 Date: 1/31/2012
Perf: $1,242.81 Date: 12/31/2011
Perf: $1,238.85 Date: 11/30/2011
Perf: $1,227.07 Date: 10/31/2011
Perf: $1,223.40 Date: 9/30/2011
Perf: $1,273.84 Date: 8/31/2011
Perf: $1,274.61 Date: 7/31/2011
Perf: $1,277.16 Date: 6/30/2011
Perf: $1,232.90 Date: 5/31/2011
Perf: $1,265.81 Date: 4/30/2011
Perf: $1,313.77 Date: 3/31/2011
Perf: $1,264.45 Date: 2/28/2011
Perf: $1,284.10 Date: 1/31/2011
Perf: $1,262.63 Date: 12/31/2010
Perf: $1,280.17 Date: 11/30/2010
Perf: $1,227.51 Date: 10/31/2010
Perf: $1,272.56 Date: 9/30/2010
Perf: $1,225.03 Date: 8/31/2010
Perf: $1,203.13 Date: 7/31/2010
Perf: $1,155.30 Date: 6/30/2010
Perf: $1,170.40 Date: 5/31/2010
Perf: $1,165.97 Date: 4/30/2010
Perf: $1,194.89 Date: 3/31/2010
Perf: $1,176.76 Date: 2/28/2010
Perf: $1,131.83 Date: 1/31/2010
Perf: $1,121.29 Date: 12/31/2009
Perf: $1,149.92 Date: 11/30/2009
Perf: $1,197.84 Date: 10/31/2009
Perf: $1,151.43 Date: 9/30/2009
Perf: $1,181.69 Date: 8/31/2009
Perf: $1,154.21 Date: 7/31/2009
Perf: $1,150.42 Date: 6/30/2009
Perf: $1,151.69 Date: 5/31/2009
Perf: $1,183.16 Date: 4/30/2009
Perf: $1,167.05 Date: 3/31/2009
Perf: $1,206.50 Date: 2/28/2009
Perf: $1,240.88 Date: 1/31/2009
Perf: $1,241.50 Date: 12/31/2008
Perf: $1,249.62 Date: 11/30/2008
Perf: $1,218.31 Date: 10/31/2008
Perf: $1,175.18 Date: 9/30/2008
Perf: $1,117.62 Date: 8/31/2008
Perf: $1,115.28 Date: 7/31/2008
Perf: $1,145.88 Date: 6/30/2008
Perf: $1,201.00 Date: 5/31/2008
Perf: $1,169.77 Date: 4/30/2008
Perf: $1,146.16 Date: 3/31/2008
Perf: $1,159.49 Date: 2/29/2008
Perf: $1,164.62 Date: 1/31/2008
Perf: $1,101.92 Date: 12/31/2007
Perf: $1,082.22 Date: 11/30/2007
Perf: $1,084.72 Date: 10/31/2007
Perf: $1,091.81 Date: 9/30/2007
Perf: $1,046.70 Date: 8/31/2007
Perf: $1,000.00 Date: 12/31/2016
Perf: $1,861.26 Date: 11/30/2016
Perf: $1,825.12 Date: 10/31/2016
Perf: $1,760.00 Date: 9/30/2016
Perf: $1,792.63 Date: 8/31/2016
Perf: $1,792.27 Date: 7/31/2016
Perf: $1,789.77 Date: 6/30/2016
Perf: $1,726.07 Date: 5/31/2016
Perf: $1,721.60 Date: 4/30/2016
Perf: $1,691.16 Date: 3/31/2016
Perf: $1,684.59 Date: 2/29/2016
Perf: $1,577.62 Date: 1/31/2016
Perf: $1,579.68 Date: 12/31/2015
Perf: $1,662.12 Date: 11/30/2015
Perf: $1,688.80 Date: 10/31/2015
Perf: $1,683.75 Date: 9/30/2015
Perf: $1,552.70 Date: 8/31/2015
Perf: $1,592.03 Date: 7/31/2015
Perf: $1,694.18 Date: 6/30/2015
Perf: $1,659.34 Date: 5/31/2015
Perf: $1,692.17 Date: 4/30/2015
Perf: $1,670.62 Date: 3/31/2015
Perf: $1,654.73 Date: 2/28/2015
Perf: $1,681.29 Date: 1/31/2015
Perf: $1,589.88 Date: 12/31/2014
Perf: $1,639.05 Date: 11/30/2014
Perf: $1,643.16 Date: 10/31/2014
Perf: $1,600.11 Date: 9/30/2014
Perf: $1,562.00 Date: 8/31/2014
Perf: $1,584.18 Date: 7/31/2014
Perf: $1,523.25 Date: 6/30/2014
Perf: $1,544.56 Date: 5/31/2014
Perf: $1,513.24 Date: 4/30/2014
Perf: $1,478.50 Date: 3/31/2014
Perf: $1,467.63 Date: 2/28/2014
Perf: $1,455.41 Date: 1/31/2014
Perf: $1,391.80 Date: 12/31/2013
Perf: $1,441.69 Date: 11/30/2013
Perf: $1,406.11 Date: 10/31/2013
Perf: $1,364.49 Date: 9/30/2013
Perf: $1,304.49 Date: 8/31/2013
Perf: $1,264.77 Date: 7/31/2013
Perf: $1,302.55 Date: 6/30/2013
Perf: $1,239.46 Date: 5/31/2013
Perf: $1,256.29 Date: 4/30/2013
Perf: $1,227.57 Date: 3/31/2013
Perf: $1,204.33 Date: 2/28/2013
Perf: $1,160.80 Date: 1/31/2013
Perf: $1,145.22 Date: 12/31/2012
Perf: $1,088.82 Date: 11/30/2012
Perf: $1,079.00 Date: 10/31/2012
Perf: $1,072.78 Date: 9/30/2012
Perf: $1,093.00 Date: 8/31/2012
Perf: $1,065.51 Date: 7/31/2012
Perf: $1,042.06 Date: 6/30/2012
Perf: $1,027.78 Date: 5/31/2012
Perf: $987.11 Date: 4/30/2012
Perf: $1,050.23 Date: 3/31/2012
Perf: $1,056.88 Date: 2/29/2012
Perf: $1,023.22 Date: 1/31/2012
Perf: $980.85 Date: 12/31/2011
Perf: $938.79 Date: 11/30/2011
Perf: $929.31 Date: 10/31/2011
Perf: $931.36 Date: 9/30/2011
Perf: $839.59 Date: 8/31/2011
Perf: $903.08 Date: 7/31/2011
Perf: $954.93 Date: 6/30/2011
Perf: $974.72 Date: 5/31/2011
Perf: $991.27 Date: 4/30/2011
Perf: $1,002.60 Date: 3/31/2011
Perf: $973.78 Date: 2/28/2011
Perf: $973.39 Date: 1/31/2011
Perf: $941.11 Date: 12/31/2010
Perf: $919.32 Date: 11/30/2010
Perf: $861.76 Date: 10/31/2010
Perf: $861.67 Date: 9/30/2010
Perf: $830.05 Date: 8/31/2010
Perf: $762.07 Date: 7/31/2010
Perf: $798.06 Date: 6/30/2010
Perf: $745.78 Date: 5/31/2010
Perf: $786.94 Date: 4/30/2010
Perf: $855.28 Date: 3/31/2010
Perf: $841.97 Date: 2/28/2010
Perf: $794.09 Date: 1/31/2010
Perf: $770.21 Date: 12/31/2009
Perf: $798.98 Date: 11/30/2009
Perf: $783.85 Date: 10/31/2009
Perf: $739.48 Date: 9/30/2009
Perf: $753.49 Date: 8/31/2009
Perf: $726.40 Date: 7/31/2009
Perf: $701.09 Date: 6/30/2009
Perf: $651.81 Date: 5/31/2009
Perf: $650.51 Date: 4/30/2009
Perf: $616.07 Date: 3/31/2009
Perf: $562.26 Date: 2/28/2009
Perf: $516.98 Date: 1/31/2009
Perf: $578.60 Date: 12/31/2008
Perf: $631.86 Date: 11/30/2008
Perf: $625.24 Date: 10/31/2008
Perf: $673.60 Date: 9/30/2008
Perf: $809.52 Date: 8/31/2008
Perf: $888.70 Date: 7/31/2008
Perf: $876.00 Date: 6/30/2008
Perf: $883.42 Date: 5/31/2008
Perf: $964.75 Date: 4/30/2008
Perf: $952.37 Date: 3/31/2008
Perf: $908.14 Date: 2/29/2008
Perf: $912.06 Date: 1/31/2008
Perf: $942.70 Date: 12/31/2007
Perf: $1,002.87 Date: 11/30/2007
Perf: $1,009.84 Date: 10/31/2007
Perf: $1,053.89 Date: 9/30/2007
Perf: $1,037.40 Date: 8/31/2007
Perf: $1,000.00 Date: 12/31/2016
Perf: $1,618.16 Date: 11/30/2016
Perf: $1,589.54 Date: 10/31/2016
Perf: $1,580.38 Date: 9/30/2016
Perf: $1,627.24 Date: 8/31/2016
Perf: $1,687.84 Date: 7/31/2016
Perf: $1,764.04 Date: 6/30/2016
Perf: $1,739.34 Date: 5/31/2016
Perf: $1,686.06 Date: 4/30/2016
Perf: $1,664.43 Date: 3/31/2016
Perf: $1,660.94 Date: 2/29/2016
Perf: $1,738.48 Date: 1/31/2016
Perf: $1,736.74 Date: 12/31/2015
Perf: $1,612.87 Date: 11/30/2015
Perf: $1,693.48 Date: 10/31/2015
Perf: $1,669.28 Date: 9/30/2015
Perf: $1,665.94 Date: 8/31/2015
Perf: $1,686.69 Date: 7/31/2015
Perf: $1,640.59 Date: 6/30/2015
Perf: $1,643.38 Date: 5/31/2015
Perf: $1,668.58 Date: 4/30/2015
Perf: $1,625.98 Date: 3/31/2015
Perf: $1,696.20 Date: 2/28/2015
Perf: $1,698.07 Date: 1/31/2015
Perf: $1,711.42 Date: 12/31/2014
Perf: $1,629.92 Date: 11/30/2014
Perf: $1,616.66 Date: 10/31/2014
Perf: $1,577.85 Date: 9/30/2014
Perf: $1,619.14 Date: 8/31/2014
Perf: $1,513.92 Date: 7/31/2014
Perf: $1,536.04 Date: 6/30/2014
Perf: $1,508.14 Date: 5/31/2014
Perf: $1,452.09 Date: 4/30/2014
Perf: $1,524.34 Date: 3/31/2014
Perf: $1,571.32 Date: 2/28/2014
Perf: $1,599.15 Date: 1/31/2014
Perf: $1,596.59 Date: 12/31/2013
Perf: $1,537.85 Date: 11/30/2013
Perf: $1,543.41 Date: 10/31/2013
Perf: $1,542.79 Date: 9/30/2013
Perf: $1,516.55 Date: 8/31/2013
Perf: $1,499.90 Date: 7/31/2013
Perf: $1,453.39 Date: 6/30/2013
Perf: $1,505.17 Date: 5/31/2013
Perf: $1,476.67 Date: 4/30/2013
Perf: $1,477.26 Date: 3/31/2013
Perf: $1,396.02 Date: 2/28/2013
Perf: $1,369.18 Date: 1/31/2013
Perf: $1,400.55 Date: 12/31/2012
Perf: $1,376.46 Date: 11/30/2012
Perf: $1,316.69 Date: 10/31/2012
Perf: $1,286.83 Date: 9/30/2012
Perf: $1,352.85 Date: 8/31/2012
Perf: $1,328.15 Date: 7/31/2012
Perf: $1,360.39 Date: 6/30/2012
Perf: $1,361.61 Date: 5/31/2012
Perf: $1,345.87 Date: 4/30/2012
Perf: $1,259.47 Date: 3/31/2012
Perf: $1,270.78 Date: 2/29/2012
Perf: $1,264.58 Date: 1/31/2012
Perf: $1,292.50 Date: 12/31/2011
Perf: $1,296.65 Date: 11/30/2011
Perf: $1,283.30 Date: 10/31/2011
Perf: $1,290.66 Date: 9/30/2011
Perf: $1,307.26 Date: 8/31/2011
Perf: $1,297.66 Date: 7/31/2011
Perf: $1,346.26 Date: 6/30/2011
Perf: $1,307.55 Date: 5/31/2011
Perf: $1,320.36 Date: 4/30/2011
Perf: $1,358.82 Date: 3/31/2011
Perf: $1,296.21 Date: 2/28/2011
Perf: $1,296.47 Date: 1/31/2011
Perf: $1,259.69 Date: 12/31/2010
Perf: $1,306.73 Date: 11/30/2010
Perf: $1,252.86 Date: 10/31/2010
Perf: $1,240.33 Date: 9/30/2010
Perf: $1,250.20 Date: 8/31/2010
Perf: $1,229.91 Date: 7/31/2010
Perf: $1,152.14 Date: 6/30/2010
Perf: $1,176.62 Date: 5/31/2010
Perf: $1,169.13 Date: 4/30/2010
Perf: $1,182.73 Date: 3/31/2010
Perf: $1,169.87 Date: 2/28/2010
Perf: $1,097.95 Date: 1/31/2010
Perf: $1,100.70 Date: 12/31/2009
Perf: $1,109.80 Date: 11/30/2009
Perf: $1,090.61 Date: 10/31/2009
Perf: $1,085.94 Date: 9/30/2009
Perf: $1,071.26 Date: 8/31/2009
Perf: $1,060.13 Date: 7/31/2009
Perf: $1,045.18 Date: 6/30/2009
Perf: $1,035.76 Date: 5/31/2009
Perf: $1,041.07 Date: 4/30/2009
Perf: $1,095.28 Date: 3/31/2009
Perf: $1,142.83 Date: 2/28/2009
Perf: $1,150.07 Date: 1/31/2009
Perf: $1,160.75 Date: 12/31/2008
Perf: $1,128.04 Date: 11/30/2008
Perf: $1,123.88 Date: 10/31/2008
Perf: $1,108.91 Date: 9/30/2008
Perf: $1,115.04 Date: 8/31/2008
Perf: $1,150.48 Date: 7/31/2008
Perf: $1,167.05 Date: 6/30/2008
Perf: $1,196.73 Date: 5/31/2008
Perf: $1,175.11 Date: 4/30/2008
Perf: $1,134.71 Date: 3/31/2008
Perf: $1,146.63 Date: 2/29/2008
Perf: $1,156.11 Date: 1/31/2008
Perf: $1,106.86 Date: 12/31/2007
Perf: $1,064.29 Date: 11/30/2007
Perf: $1,024.24 Date: 10/31/2007
Perf: $1,035.63 Date: 9/30/2007
Perf: $1,026.70 Date: 8/31/2007
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 08/07 - 12/16
Date: 12/31/2016
Return: 1.80 % Date: 11/30/2016
Return: 0.58 % Date: 10/31/2016
Return: -2.88 % Date: 9/30/2016
Return: -3.59 % Date: 8/31/2016
Return: -4.32 % Date: 7/31/2016
Return: 1.42 % Date: 6/30/2016
Return: 3.16 % Date: 5/31/2016
Return: 1.30 % Date: 4/30/2016
Return: 0.21 % Date: 3/31/2016
Return: -4.46 % Date: 2/29/2016
Return: 0.10 % Date: 1/31/2016
Return: 7.68 % Date: 12/31/2015
Return: -4.76 % Date: 11/30/2015
Return: 1.45 % Date: 10/31/2015
Return: 0.20 % Date: 9/30/2015
Return: -1.23 % Date: 8/31/2015
Return: 2.81 % Date: 7/31/2015
Return: -0.17 % Date: 6/30/2015
Return: -1.51 % Date: 5/31/2015
Return: 2.62 % Date: 4/30/2015
Return: -4.14 % Date: 3/31/2015
Return: -0.11 % Date: 2/28/2015
Return: -0.78 % Date: 1/31/2015
Return: 5.00 % Date: 12/31/2014
Return: 0.82 % Date: 11/30/2014
Return: 2.46 % Date: 10/31/2014
Return: -2.55 % Date: 9/30/2014
Return: 6.95 % Date: 8/31/2014
Return: -1.44 % Date: 7/31/2014
Return: 1.85 % Date: 6/30/2014
Return: 3.86 % Date: 5/31/2014
Return: -4.74 % Date: 4/30/2014
Return: -2.99 % Date: 3/31/2014
Return: -1.74 % Date: 2/28/2014
Return: 0.16 % Date: 1/31/2014
Return: 3.82 % Date: 12/31/2013
Return: -0.36 % Date: 11/30/2013
Return: 0.04 % Date: 10/31/2013
Return: 1.73 % Date: 9/30/2013
Return: 1.11 % Date: 8/31/2013
Return: 3.20 % Date: 7/31/2013
Return: -3.44 % Date: 6/30/2013
Return: 1.93 % Date: 5/31/2013
Return: -0.04 % Date: 4/30/2013
Return: 5.82 % Date: 3/31/2013
Return: 1.96 % Date: 2/28/2013
Return: -2.24 % Date: 1/31/2013
Return: 1.75 % Date: 12/31/2012
Return: 4.54 % Date: 11/30/2012
Return: 2.32 % Date: 10/31/2012
Return: -4.88 % Date: 9/30/2012
Return: 1.86 % Date: 8/31/2012
Return: -2.37 % Date: 7/31/2012
Return: -0.09 % Date: 6/30/2012
Return: 1.17 % Date: 5/31/2012
Return: 6.86 % Date: 4/30/2012
Return: -0.89 % Date: 3/31/2012
Return: 0.49 % Date: 2/29/2012
Return: -2.16 % Date: 1/31/2012
Return: -0.32 % Date: 12/31/2011
Return: 1.04 % Date: 11/30/2011
Return: -0.57 % Date: 10/31/2011
Return: -1.27 % Date: 9/30/2011
Return: 0.74 % Date: 8/31/2011
Return: -3.61 % Date: 7/31/2011
Return: 2.96 % Date: 6/30/2011
Return: -0.97 % Date: 5/31/2011
Return: -2.83 % Date: 4/30/2011
Return: 4.83 % Date: 3/31/2011
Return: -0.02 % Date: 2/28/2011
Return: 2.92 % Date: 1/31/2011
Return: -3.60 % Date: 12/31/2010
Return: 4.30 % Date: 11/30/2010
Return: 1.01 % Date: 10/31/2010
Return: -0.79 % Date: 9/30/2010
Return: 1.65 % Date: 8/31/2010
Return: 6.75 % Date: 7/31/2010
Return: -2.08 % Date: 6/30/2010
Return: 0.64 % Date: 5/31/2010
Return: -1.15 % Date: 4/30/2010
Return: 1.10 % Date: 3/31/2010
Return: 6.55 % Date: 2/28/2010
Return: -0.25 % Date: 1/31/2010
Return: -0.82 % Date: 12/31/2009
Return: 1.76 % Date: 11/30/2009
Return: 0.43 % Date: 10/31/2009
Return: 1.37 % Date: 9/30/2009
Return: 1.05 % Date: 8/31/2009
Return: 1.43 % Date: 7/31/2009
Return: 0.91 % Date: 6/30/2009
Return: -0.51 % Date: 5/31/2009
Return: -4.95 % Date: 4/30/2009
Return: -4.16 % Date: 3/31/2009
Return: -0.63 % Date: 2/28/2009
Return: -0.92 % Date: 1/31/2009
Return: 2.90 % Date: 12/31/2008
Return: 0.37 % Date: 11/30/2008
Return: 1.35 % Date: 10/31/2008
Return: -0.55 % Date: 9/30/2008
Return: -3.08 % Date: 8/31/2008
Return: -1.42 % Date: 7/31/2008
Return: -2.48 % Date: 6/30/2008
Return: 1.84 % Date: 5/31/2008
Return: 3.56 % Date: 4/30/2008
Return: -1.04 % Date: 3/31/2008
Return: -0.82 % Date: 2/29/2008
Return: 4.45 % Date: 1/31/2008
Return: 4.00 % Date: 12/31/2007
Return: 3.91 % Date: 11/30/2007
Return: -1.10 % Date: 10/31/2007
Return: 0.87 % Date: 9/30/2007
Return: 2.67 % Date: 8/31/2007
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 08/07 - 12/16
Return: 8.00 %
Count: 1 Return: 6.00 %
Count: 1 Return: 5.00 %
Count: 3 Return: 7.00 %
Count: 4 Return: -5.00 %
Count: 4 Return: -4.00 %
Count: 7 Return: -3.00 %
Count: 6 Return: -2.00 %
Count: 7 Return: 2.00 %
Count: 12 Return: 4.00 %
Count: 7 Return: -1.00 %
Count: 18 Return: 1.00 %
Count: 18 Return: 3.00 %
Count: 8 Return: 0.00 %
Count: 17
Note: All performance data is since program inception.

Underwater Curve
Date Range: 08/07 - 12/16
Date: 12/31/2016
Drawdown: -8.27 % Date: 11/30/2016
Drawdown: -9.89 % Date: 10/31/2016
Drawdown: -10.41 % Date: 9/30/2016
Drawdown: -7.75 % Date: 8/31/2016
Drawdown: -4.32 % Date: 7/31/2016
Drawdown: 0.00 % Date: 6/30/2016
Drawdown: 0.00 % Date: 5/31/2016
Drawdown: -3.01 % Date: 4/30/2016
Drawdown: -4.26 % Date: 3/31/2016
Drawdown: -4.46 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: 0.00 % Date: 12/31/2015
Drawdown: -5.76 % Date: 11/30/2015
Drawdown: -1.05 % Date: 10/31/2015
Drawdown: -2.46 % Date: 9/30/2015
Drawdown: -2.66 % Date: 8/31/2015
Drawdown: -1.44 % Date: 7/31/2015
Drawdown: -4.14 % Date: 6/30/2015
Drawdown: -3.98 % Date: 5/31/2015
Drawdown: -2.50 % Date: 4/30/2015
Drawdown: -4.99 % Date: 3/31/2015
Drawdown: -0.89 % Date: 2/28/2015
Drawdown: -0.78 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -0.15 % Date: 10/31/2014
Drawdown: -2.55 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: -5.33 % Date: 7/31/2014
Drawdown: -3.95 % Date: 6/30/2014
Drawdown: -5.69 % Date: 5/31/2014
Drawdown: -9.20 % Date: 4/30/2014
Drawdown: -4.68 % Date: 3/31/2014
Drawdown: -1.74 % Date: 2/28/2014
Drawdown: 0.00 % Date: 1/31/2014
Drawdown: 0.00 % Date: 12/31/2013
Drawdown: -0.36 % Date: 11/30/2013
Drawdown: 0.00 % Date: 10/31/2013
Drawdown: 0.00 % Date: 9/30/2013
Drawdown: 0.00 % Date: 8/31/2013
Drawdown: -0.35 % Date: 7/31/2013
Drawdown: -3.44 % Date: 6/30/2013
Drawdown: 0.00 % Date: 5/31/2013
Drawdown: -0.04 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: -0.32 % Date: 2/28/2013
Drawdown: -2.24 % Date: 1/31/2013
Drawdown: 0.00 % Date: 12/31/2012
Drawdown: 0.00 % Date: 11/30/2012
Drawdown: -3.30 % Date: 10/31/2012
Drawdown: -5.49 % Date: 9/30/2012
Drawdown: -0.64 % Date: 8/31/2012
Drawdown: -2.46 % Date: 7/31/2012
Drawdown: -0.09 % Date: 6/30/2012
Drawdown: 0.00 % Date: 5/31/2012
Drawdown: -0.95 % Date: 4/30/2012
Drawdown: -7.31 % Date: 3/31/2012
Drawdown: -6.48 % Date: 2/29/2012
Drawdown: -6.94 % Date: 1/31/2012
Drawdown: -4.88 % Date: 12/31/2011
Drawdown: -4.58 % Date: 11/30/2011
Drawdown: -5.56 % Date: 10/31/2011
Drawdown: -5.02 % Date: 9/30/2011
Drawdown: -3.79 % Date: 8/31/2011
Drawdown: -4.50 % Date: 7/31/2011
Drawdown: -0.92 % Date: 6/30/2011
Drawdown: -3.77 % Date: 5/31/2011
Drawdown: -2.83 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -0.80 % Date: 2/28/2011
Drawdown: -0.79 % Date: 1/31/2011
Drawdown: -3.60 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: 0.00 % Date: 10/31/2010
Drawdown: -0.79 % Date: 9/30/2010
Drawdown: 0.00 % Date: 8/31/2010
Drawdown: 0.00 % Date: 7/31/2010
Drawdown: -3.73 % Date: 6/30/2010
Drawdown: -1.68 % Date: 5/31/2010
Drawdown: -2.31 % Date: 4/30/2010
Drawdown: -1.17 % Date: 3/31/2010
Drawdown: -2.24 % Date: 2/28/2010
Drawdown: -8.25 % Date: 1/31/2010
Drawdown: -8.02 % Date: 12/31/2009
Drawdown: -7.26 % Date: 11/30/2009
Drawdown: -8.87 % Date: 10/31/2009
Drawdown: -9.26 % Date: 9/30/2009
Drawdown: -10.48 % Date: 8/31/2009
Drawdown: -11.41 % Date: 7/31/2009
Drawdown: -12.66 % Date: 6/30/2009
Drawdown: -13.45 % Date: 5/31/2009
Drawdown: -13.01 % Date: 4/30/2009
Drawdown: -8.48 % Date: 3/31/2009
Drawdown: -4.50 % Date: 2/28/2009
Drawdown: -3.90 % Date: 1/31/2009
Drawdown: -3.01 % Date: 12/31/2008
Drawdown: -5.74 % Date: 11/30/2008
Drawdown: -6.09 % Date: 10/31/2008
Drawdown: -7.34 % Date: 9/30/2008
Drawdown: -6.83 % Date: 8/31/2008
Drawdown: -3.86 % Date: 7/31/2008
Drawdown: -2.48 % Date: 6/30/2008
Drawdown: 0.00 % Date: 5/31/2008
Drawdown: 0.00 % Date: 4/30/2008
Drawdown: -1.85 % Date: 3/31/2008
Drawdown: -0.82 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: 0.00 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: -1.10 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Eco Capital Management, LLC
Address: 8355 Prospect Drive
City: Kewakum
State: WI
Zip: 53040
Country: USA
Key People
Name:  Robert Friedl
Position:  Principal
Biography: 

The Manager began his trading career in 1987 at the CBOE and the CME. From 1990 through 1991, the Manager day traded proprietary capital in the S&P 500 and 30YR Treasury Bond futures markets. In 1993, the Manager was a founding principal of Webster Management Group. The Manager co-designed the trading systems, was on the research team and managed trading operations. During that time, he supervised the design and implementation of Webster’s back office software and account management systems. In 1999, the Manager co-founded Fall River Capital LLC. The Manager holds a Bachelor of Science degree from the University of Wyoming (1986).


Name:  Kevin Doyle
Position:  Principal
Biography: 


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.