Volatility-focused managers struggled to produce gains in the sharply rising markets.
A couple of strategies managed to post gains, including the Fortrinn Convexity Fund (which was up by 3.58%), run by former MKM Longboat co-founder Keith DeCarlucci, and the Da Vinci Fund (which gained 1.04%).
But there were far more funds with losses than gains. The AlphaCube Gamma Trading Fund fell 0.67% for a YTD return of -0.44% - while the Fortrinn Volatility Fund fell 1.21%.
CAAM Funds Volatility Euro Equities fund dropped 1.42% on the month, while the firm's World Equities fund fell 1.63%. SGAM AI Global Volatility