ECCM Systematic Trend Fund
30 April 2026
Performance Review
The ECCM Systematic Trend Fund has a track record of 6 years and 4 months and has outperformed the SG Trend benchmark since inception in January 2020, providing investors with an annualised return of 14.74% compared with the benchmark's return of 8.1% over the same period.
The Manager has delivered these returns with 2.44% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.91 since inception. The fund has provided positive monthly returns 77% of the time in rising markets and 41% of the time during periods of market decline, contributing to an up-capture ratio since inception of 109% and a down-capture ratio of 67%.
The ECCM Systematic Trend Fund rose by +4.47% in April, an outperformance of +1.62% compared with the SG Trend benchmark which rose by +2.85%. Over the past 12 months, the fund's best monthly return was +9.07% compared with the benchmark's best return of +5.73%, and its worst monthly return was -6.27% vs the benchmark's worst return over the same period of -2.22%.
Fund rank in Peergroups
| Fund | 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 7 years | |
|---|---|---|---|---|---|---|---|---|
| ECCM Systematic Trend Fund | Performance: | 4.47% | 2.41% | 15.80% | 28.34% | 12.27% | 11.78% | - |
| Rank in Peer Group (out of 42): | 7 | 11 | 5 | 6 | 11 | 8 | - | |
| Peergroup - Alternatives | Performance: | 2.15% | 1.63% | 5.11% | 13.63% | 9.02% | 8.46% | 8.07% |
| Performance vs peergroup: | +2.32% | +0.78% | +10.70% | +14.70% | +3.25% | +3.32% | - | |
| Benchmark - SG Trend Index | Performance: | 2.85% | 5.18% | 13.78% | 24.36% | 5.17% | 7.59% | - |
| Performance vs benchmark (Alpha): | +1.62% | -2.77% | +2.02% | +3.97% | +7.10% | +4.19% | - | |
| Fund | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ECCM Systematic Trend Fund | Performance: | - | - | - | 18.98% | 17.67% | 9.94% | 9.02% | 24.03% | 2.78% | 11.70% |
| Rank in Peer Group (out of 43): | - | - | - | 8 | 10 | 11 | 14 | 6 | 34 | 5 | |
| Drawdown: | - | - | 0.00% | -4.21% | -4.51% | -5.66% | -6.19% | -4.80% | -18.32% | -6.27% | |
| Peergroup - Alternatives | Performance: | 5.45% | -4.30% | 10.70% | 2.12% | 13.97% | 4.59% | 6.77% | 8.81% | 10.14% | 4.15% |
| Performance vs peergroup: | - | - | - | +16.86% | +3.70% | +5.35% | +2.25% | +15.22% | -7.36% | +7.55% | |
| Benchmark - SG Trend Index | Performance: | - | - | - | 6.28% | 9.09% | 27.35% | -4.16% | 2.64% | 2.39% | 10.14% |
| Performance vs benchmark (Alpha): | - | - | - | +12.70% | +8.58% | -17.41% | +13.19% | +21.39% | +0.38% | +1.56% | |
Fund returns
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.07 | 4.59 | -6.27 | 4.47 | NA | NA | NA | NA | NA | NA | NA | NA | 11.70 |
| 2025 | 4.37 | -1.46 | -4.00 | -9.40 | -4.67 | 1.19 | -1.22 | 6.61 | 6.86 | 2.08 | -0.10 | 3.78 | 2.78 |
| 2024 | 3.61 | 8.42 | 6.97 | -0.82 | 1.34 | -2.53 | 0.63 | -1.87 | 6.22 | -4.80 | 6.29 | -0.74 | 24.03 |
| 2023 | 1.83 | 2.84 | 1.57 | 3.14 | 0.13 | -0.72 | 4.23 | 0.23 | -4.70 | -1.57 | 3.45 | -1.39 | 9.02 |
| 2022 | -0.64 | 0.31 | 6.38 | 3.43 | -4.28 | -1.44 | 0.56 | 4.52 | 3.91 | 1.97 | -5.06 | 0.50 | 9.94 |
| 2021 | 0.29 | 2.27 | 0.63 | 11.50 | 2.21 | -3.29 | 0.60 | 0.25 | 1.38 | 3.40 | -4.51 | 2.47 | 17.67 |
| 2020 | 2.97 | -0.07 | -1.79 | -1.73 | 0.05 | -0.28 | 4.92 | 1.25 | -2.23 | -2.02 | 9.62 | 7.64 | 18.98 |
General Notes
ECCM STF continues the track record of the ECCM Systematic Global Macro (SGM) Fund which operated between Jan 2020 and Jun 2023. Both funds have implemented ECCM's proprietary systematic, diversified, trend following futures trading strategy. Returns from Jan 2020 - Jun 2023 are those of the ECCM SGM.
Annual Returns
Over the past 12 months, the fund has risen by +28.34% compared with the benchmark which has returned +24.36%, for a difference of +3.98%. Since inception in January 2020, the fund has returned +14.74% per annum, a difference of +6.64% relative to the benchmark which has returned +8.10% on an annualised basis over the same period.
Cumulative Returns
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $238. The same amount invested in the benchmark over the same period would have become $163.
Annual Returns %
Volatility and Risk
Annual Standard Deviation
The fund's returns over the past 12 months have been achieved with a volatility of 15.45% vs the index's 7.85%. The annualised volatility of the fund's returns since inception in January 2020 is 13.59% vs the index's 11.15%. Over all other periods, the fund's returns have been more volatile than the benchmark.
Sharpe Ratio
The fund's Sharpe ratio has ranged from a high of 1.47 for performance over the most recent 12 months to a low of 0.39 over the latest 24 months, and is 0.91 for performance since inception. By contrast, the SG Trend Index's Sharpe for performance since January 2020 is 0.54.
Annual Standard Deviation
Sharpe Ratio
Performance in Positive Markets
Since inception in January 2020 in the months where the market was positive, the fund has provided positive returns 77% of the time
Performance in Negative Markets
Since inception in January 2020 in the months where the market was negative, the fund has provided positive returns 41% of the time, contributing to a down-capture ratio for returns since inception of 66.63%. Over all other periods, the fund's down-capture ratio has ranged from a high of 308.75% over the most recent 12 months to a low of 65.02% over the latest 48 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months.
Average Return in +ve Market %
Average Return in -ve Market %
Sortino Ratio
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 2.55 for performance over the most recent 12 months to a low of 0.46 over the latest 24 months, and is 1.52 for performance since inception. By contrast, the SG Trend Index's Sortino for performance since January 2020 is 0.76.
Drawdown
Over the past 12 months, the fund's largest drawdown was -6.27% vs the index's -1.58%, and since inception in January 2020 the fund's largest drawdown was -18.32% vs the index's maximum drawdown over the same period of -20.43%.
Sortino Ratio
Drawdown%
Quintile Ranking vs. Average Alternatives as of April 2026
The performance of the ECCM Systematic Trend Fund ranked it in the first or second quintile for Total Return over 1, 3 & 5 years, and in the second quintile for Sharpe and Sortino over 1 & 5 years.
Over the past 12 months, the fund has risen by +28.34% compared with the peer group which has returned an average of +13.63%, for a difference of +14.71%.
The fund's returns over the past 12 months have been achieved with a volatility of 15.45% vs the peer group's average volatility of 3.68%. The annualised volatility of the fund's returns since inception in January 2020 is 13.59% vs the peer group's 9.84%. Over all other periods, the fund's returns have been more volatile than the peer group.