Oil prices have moved lower, and broader market activity has cooled from the move higher experienced during the first week of August. Equity markets remain near elevated levels, while volatility has remained relatively contained.
The S&P 500 is up approximately 2.5% MTD, 12.5% YTD, and 19.9% over the past year. These figures are provided for market context; Alpha Wealth Funds strategies are not managed against the S&P 500 as an equity benchmark.
The Alpha Synthetic Equity Protection Fund has given back some recent gains as equity markets have declined. The Alpha Wealth Volatility Advantage Fund has also given back part of its month-to-date gain, with recent movement concentrated in the Nasdaq and Nvidia.
MTD: +1.25%
YTD: +4.5%
1-Year: +5.5%
Performance figures are preliminary and unaudited. Official administrator statements govern final fund reporting.
MTD: +1.5%
YTD: +17.5%
1-Year: —
Performance figures are preliminary and unaudited. Official administrator statements govern final fund reporting.
MTD: +2.88%
YTD: +12.7%
1-Year: +12.8%
The Alpha Synthetic Equity Protection Fund has experienced some recent decline as equity markets have moved lower. Performance figures are preliminary and unaudited.
MTD: +5.0%
YTD: +25.4%
1-Year: +35.25%
The Alpha Wealth Volatility Advantage Fund has given back part of its month-to-date gain following recent movement in the Nasdaq and Nvidia. Performance figures are preliminary and unaudited.
Zero accounts: +10.1% YTD; +17.76% 1-Year
Synthetic accounts: +17.46% YTD; +30.0% 1-Year
All accounts combined: +17.7% 1-Year
Account-level results may vary based on account structure, timing of contributions and withdrawals, and individual positioning.
A new volatility position has been established following the expiration of a prior position. The new position is approximately 45% to 46% out of the money.
Covered calls remain in place across accounts, while upside exposure has not been fully covered. If a market pullback occurs, the current process calls for closing covered call positions and re-establishing volatility positions based on prevailing market conditions.
Current positioning reflects the firm's established approach to managing volatility exposure and adjusting positions as market conditions change.
The Jackson Hole meetings, Nvidia's earnings, interest-rate developments, and oil markets remain areas of focus this week.
The VIX is currently around 15.5 to 16, reflecting relatively contained volatility compared with periods of elevated market stress.
Oil prices have moved lower, while recent U.S. policy developments remain relevant to the energy market. Conditions remain subject to changes in geopolitical developments and market expectations.
Market activity has generally cooled heading into month-end.
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.
