Risk Measures in 2020 (Jan 1, 2020 - Dec 31, 2020)
Beta Collected: None. Correlation to major equity indices: -0.07 to -0.15
Britannica is deep quant and deploys extensive technology and proprietary models
Important Performance disclosures:
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
This information is historical and may not be comparable to the future performance of Britannica Capital LLC (the “Fund”). The investment strategy does not make a claim about the potential for profit without also disclosing the possibility of loss. No representation is being made that the fund will or is likely to achieve profits or losses similar to those historical. The past performance of any trading system or methodology or strategy is not necessarily indicative of future results.
General Notes and Disclosures:
1) Performance is as of December 31, 2020.
2) All Britannica returns are Time-Weighted Return (TWR). TWR measures the percent return produced over time independent of contributions or withdrawals. TWR eliminates the impact of the timing of inflows and outflows and isolates the portion of a portfolio's return that is attributable solely to the account's actions.
Notes on the select benchmarks:
1) S&P 500 performance is based on the SPY – the SPDR® S&P 500 ETF
2) EFA is the iShares® MSCI EAFE ETF. According to iShares®, “The iShares MSCI EAFE ETF seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada.”
3) VT is the Vanguard® Total World Stock ETF. According to Vanguard®, VT “Seeks to track the performance of the FTSE Global All Cap Index, which covers both well-established and still-developing markets and has high potential for growth, but also high risk; share value may swing up and down more than U.S. or international stock funds.”
4) IQ Hedge Macro (MCRO) is the IQ Hedge Macro Tracker ETF. According to the New York Life Investments, “the IQ Hedge Macro Tracker ETF seeks to track, before fees and expenses, the performance of the IQ Hedge Macro Index. The Index attempts to replicate the risk-adjusted return characteristics of a combination of hedge funds pursuing a macro strategy and hedge funds pursuing an emerging markets strategy.”
5) IQ Hedge Multi-Strat (QAI) is the IQ Hedge Multi-Strategy Tracker ETF. According to the New York Life Investments, “the IQ Hedge Multi-Strategy Tracker ETF seeks to track, before fees and expenses, the performance of the IQ Hedge Multi-Strategy Index. The Index attempts to replicate the risk-adjusted return characteristics of hedge funds using various hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.”
6) Eurekahedge Market Neutral (EHF1751) is the Eurekahedge Equity Market Neutral Hedge Fund Index. According to Eurekahedge,“the Eurekahedge Equity Market Neutral Hedge Fund Index (Bloomberg Ticker - EHFI751) is an equally weighted index of 50 constituent funds. The index is designed to provide a broad measure of the performance of underlying hedge fund managers The index is base weighted at 100 at Dec 1999, does not contain duplicate funds and is denominated in local currencies.”
Past performance of any investments are provided for illustrative purposes only, are estimates and are not indicative of future investment results.
Please also see additional disclosures in offering documents.