Markets remain active this week following the recent rally, with investor attention centered on Federal Reserve commentary, geopolitical developments, and commodity markets. Recent reports involving Iran, the United States, and discussions surrounding the Strait of Hormuz have continued to influence sentiment around oil prices, volatility, and broader risk assets.
Despite ongoing uncertainty, markets appear to be considering the possibility of de-escalation, which has contributed to recent strength in equity indexes. At the same time, forward oil prices remain elevated, reflecting that geopolitical risk has not fully subsided.
From a trading perspective, current conditions continue to present opportunities in volatility-related strategies. Elevated uncertainty has supported options pricing and time decay across both call and put exposures. Current portfolio positioning reflects prevailing market conditions while maintaining flexibility as conditions change.
MTD: +3.1% | YTD: +3.2% (before fees)
The Low Volatility Fund remains generally in line with last week’s levels. Performance is positive month-to-date and year-to-date before fees, with net returns lower after applicable fees.
Current positioning includes exposure across multiple market outcomes, including covered calls, volatility-related trades, and select commodity exposure. This reflects present market conditions as volatility, geopolitical developments, and interest rate commentary continue to influence trading activity.
MTD: +3.6% (before fees)
Low Volatility Fund II is positive month-to-date and remains generally consistent with the broader Low Volatility approach. Current positioning reflects similar market conditions and risk management considerations.
MTD: +5.5% | YTD: +5.5% (before fees)
The Synthetic Fund remains positive both month-to-date and year-to-date. Current market conditions, including elevated options pricing and ongoing volatility, continue to influence trading opportunities across the strategy.
Positioning remains diversified across market scenarios, with flexibility to adjust as conditions evolve.
MTD: +11.6% | YTD: +13.3% (before fees)
The Volatility Advantage Fund remains positive month-to-date and year-to-date. The strategy continues to reflect market conditions that have included elevated uncertainty, active options markets, and changing sentiment across equities, volatility, and commodities.
As with prior periods, the strategy may experience wider performance swings than lower-volatility approaches due to its structure and broader market exposure.
MTD: +7.0% (before fees)
The Insiders Fund is up 7% for the month, bringing results closer to flat on a year-to-date basis.
The views expressed herein reflect current market commentary and portfolio observations as of the date published and are subject to change without notice. Statements made by portfolio managers represent current opinions based on prevailing market conditions and should not be interpreted as guarantees, forecasts, or assurances of future performance or market direction.
Any performance information shown is preliminary, unaudited, and may reflect results before applicable fees, expenses, or final administrator reporting where noted. Actual investor results may differ based on fee structure, timing of contributions or withdrawals, and other account-specific factors.
This material is provided for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security, fund, or investment strategy. Past performance is not indicative of future results. All investments involve risk, including possible loss of principal.
