April was the crisis that wasn’t. A vicious V-shaped equity reversal created difficult trading conditions for more than one trend-based CTA strategy. We saw prior winners give back substantial amounts of their earlier profits. On the flip side, we have also seen a few non-trend, discretionary-focused managers able to profit from the crisis. Please feel free to dive deeper into the hit list for April 2025. The full list requires user registration.
CTA
![Titan Capital Investments : AG program : 27.35% [1.03]<br> Asymmetric Technologies : Asymmetric HV Master Fund : 18.74% [4.27]<br> Opus Futures : Macro Monitor Program : 15.51% [9.98]<br> Chelton Wealth : Balanced Compounding : 13.45% [38.40]<br> Crescat Capital : Long/Short Fund : 12.00% [17.87]<br> Haidar Capital Management : Jupiter Fund : -25.14% [813.17]<br> Melissinos Trading : Eupatrid Commodity : -25.47% [10.00]<br> ABR : Enhanced Short Volatility : -26.29% [0.90]<br> Tianyou Asset Management : Tianyou Fund : -31.63% [111.93]<br> Mulvaney Capital Management : Global Diversified Program : -40.66% [165.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/CTATopBottom5MTD2025-04.png)
![Crescat Capital : Long/Short Fund : 12.00% [17.87]<br> Crescat Capital : Precious Metals Fund : 8.30% [147.21]<br> Vigo Capital : Fund : 2.54% [1.92]<br> Friedberg Mercantile Group : Global Macro Hedge Fund : 6.15% [409.38]<br> Veerpoint Capital : ContraCOT Program : 11.42% [0.08]<br> Transtrend BV : Tulip Trend Fund : -8.00% [89.28]<br> ABR : Enhanced Short Volatility : -26.29% [0.90]<br> Asymmetric Technologies : Asymmetric HV Master Fund : 18.74% [4.27]<br> Mulvaney Capital Management : Global Diversified Program : -40.66% [165.00]<br> Melissinos Trading : Eupatrid Commodity : -25.47% [10.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/CTATopBottom5YTD2025-04.png)
To explore the full list of CTAs and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Market Neutral
![ABCA Asset Management : ABCA Opportunities : 6.11% [117.00]<br> Parallax Volatility Advisers : Parallax Master Fund : 5.13% [931.00]<br> Fulcrum Asset Management : Thematic Equity Market : 3.76% [423.94]<br> AQR Capital Management : Adaptive Equity Market Neutral : 3.63% [711.81]<br> RAM : Long Short European : 2.26% [125.66]<br> Gondor Capital : Gondor Partners Ltd : -2.09% [11.50]<br> Zest : North America Pairs Trading : -2.56% [63.81]<br> PIMCO : PIMCO RAE Fundamental Advantage PLUS : -3.10% [0.00]<br> Grand Alliance Asset Management : Sino Vision Greater China Market Neutral : -3.81% [587.98]<br> BNP Theam : Quant Dispersion US : -6.62% [133.58]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/MarketNeutralTopBottom5MTD2025-04.png)
![AQR Capital Management : Adaptive Equity Market Neutral : 3.63% [711.81]<br> AQR Capital Management : Equity Market Neutral : 1.79% [1840.00]<br> ABCA Asset Management : ABCA Opportunities : 6.11% [117.00]<br> Fulcrum Asset Management : Thematic Equity Market : 3.76% [423.94]<br> Parallax Volatility Advisers : Parallax Master Fund : 5.13% [931.00]<br> Scopia Capital Management : Market Neutral : 0.61% [45.77]<br> Candriam Investors Group : Candriam Equities L ESG Market Neutral : -0.24% [23.71]<br> Candriam Investors Group : Equities ESG Market Neutral : -0.24% [23.71]<br> Neo Ivy Capital Management : Neo Ivy : 1.81% [0.00]<br> Grand Alliance Asset Management : Sino Vision Greater China Market Neutral : -3.81% [587.98]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/MarketNeutralTopBottom5YTD2025-04.png)
To explore the full list of Market Neutral strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Equity Long Short
![Alkeon : Equity Long/Short : 12.98% [22.40]<br> Odey : Absolute Return Focus Fund : 11.01% [105.21]<br> BNP : Environmental Absolute Return : 9.42% [8.46]<br> FIEE SGR : Spesx Energy Transition Liquid : 8.97% [29.46]<br> Hussman : Hussman Strategic Growth : 8.15% [0.00]<br> Strategic Investment Advisors : Long-Term Investment Fund Natural Resources : -8.10% [82.56]<br> Proxy P Management : Energy Transition : -8.67% [26.00]<br> ABR : Dynamic Blend Equity & Volatil : -9.44% [0.00]<br> Fidelity : Global Contrarian Long Short : -11.36% [10.45]<br> Sherborne : Investors Guernsey : -12.91% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/EquityLSTopBottom5MTD2025-04.png)
![EDL Capital : Global Opportunities Fund : 7.33% [1152.00]<br> Alken : Alken Capital One : 4.02% [175.02]<br> Hussman : Hussman Strategic Growth : 8.15% [0.00]<br> Quantitative Investment Management : Tactical Fund : 7.02% [416.33]<br> TIND Asset Management : TIND Discovery Fund : 6.52% [0.00]<br> Cantor Fitzgerald : Alternative Investment Fund : 0.33% [185.74]<br> Proxy P Management : Energy Transition : -8.67% [26.00]<br> Sherborne : Investors Guernsey : -12.91% [0.00]<br> Proxy P Management : Proxy Renewable LongShort Energy : -7.71% [0.00]<br> Ikarian Capital : Healthcare : 0.37% [271.60]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/EquityLSTopBottom5YTD2025-04.png)
To explore the full list of Equity Long Short strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Event Driven
![Alkeon : Equity Long/Short : 12.98% [22.40]<br> Odey : Absolute Return Focus Fund : 11.01% [105.21]<br> BNP : Environmental Absolute Return : 9.42% [8.46]<br> FIEE SGR : Spesx Energy Transition Liquid : 8.97% [29.46]<br> Hussman : Hussman Strategic Growth : 8.15% [0.00]<br> Strategic Investment Advisors : Long-Term Investment Fund Natural Resources : -8.10% [82.56]<br> Proxy P Management : Energy Transition : -8.67% [26.00]<br> ABR : Dynamic Blend Equity & Volatil : -9.44% [0.00]<br> Fidelity : Global Contrarian Long Short : -11.36% [10.45]<br> Sherborne : Investors Guernsey : -12.91% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/EventDrivenTopBottom5MTD2025-04.png)
![EDL Capital : Global Opportunities Fund : 7.33% [1152.00]<br> Alken : Alken Capital One : 4.02% [175.02]<br> Hussman : Hussman Strategic Growth : 8.15% [0.00]<br> Quantitative Investment Management : Tactical Fund : 7.02% [416.33]<br> TIND Asset Management : TIND Discovery Fund : 6.52% [0.00]<br> Cantor Fitzgerald : Alternative Investment Fund : 0.33% [185.74]<br> Proxy P Management : Energy Transition : -8.67% [26.00]<br> Sherborne : Investors Guernsey : -12.91% [0.00]<br> Proxy P Management : Proxy Renewable LongShort Energy : -7.71% [0.00]<br> Ikarian Capital : Healthcare : 0.37% [271.60]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/EventDrivenTopBottom5YTD2025-04.png)
To explore the full list of Event Driven strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Fixed Income
![GAM International Management : Star Global Rates : 6.18% [191.34]<br> Lazard : Emerging Markets Debt Blend : 3.46% [0.00]<br> Argo Capital Management : Argo Fund : 3.45% [124.00]<br> Boussard Gavaudan : Convertible : 2.82% [60.15]<br> Franklin Templeton - Legg Mason : Brandywine Global Fixed Income Absolute Return : 2.59% [104.64]<br> Amundi : Quantitative Global Absolute Bond : -3.86% [60.17]<br> Tenax : ILS Ucits Fund : -5.21% [121.19]<br> Fair Oaks Capital : Income : -5.45% [0.00]<br> EJF Investments : Event Driven : -6.04% [0.00]<br> Axa IM : Volta Finance : -6.20% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/FixedIncomeTopBottom5MTD2025-04.png)
![GAM International Management : Star Global Rates : 6.18% [191.34]<br> Nykredit Asset Management : Nykredit MIRA Hedge Fund : 0.57% [52.50]<br> Argo Capital Management : Argo Fund : 3.45% [124.00]<br> Lazard : Emerging Markets Debt Blend : 3.46% [0.00]<br> Nordea Asset Management : European Rates Opportunity : -0.29% [412.80]<br> Skandinaviska Kreditfonden : Scandinavian Credit Fund I : -1.14% [0.40]<br> Tenax : ILS Ucits Fund : -5.21% [121.19]<br> Acheron Capital : Life Settlement Assets : 0.00% [0.00]<br> Amundi : Quantitative Global Absolute Bond : -3.86% [60.17]<br> GCP : Asset Backed Income : -1.51% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/FixedIncomeTopBottom5YTD2025-04.png)
To explore the full list of Event Driven strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Risk Premia
![BNP Theam : Quant Equity : 4.94% [14.58]<br> BNP Theam : Quant Cross Asset High Focus : 4.73% [350.23]<br> Universal Investment : Systematic Dispersion : 4.32% [53.78]<br> BNP Theam : Quant Alpha Commodity : 2.66% [54.68]<br> Trium Capital : Alternative Growth Fund : 2.65% [67.14]<br> Allspring : Alternative Risk : -6.32% [0.00]<br> BNP Theam : Quant Europe Target Premium : -6.78% [164.95]<br> Allianz Global Investors : Volatility Strategy : -7.74% [469.74]<br> Danske Bank Asset Management : Global Alternative Opportunities : -9.05% [842.40]<br> Quantedge Capital : Quantedge Global Fund : -9.44% [4021.83]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/RiskPremiaTopBottom5MTD2025-04.png)
![AQR Capital Management : Style Premia : -3.91% [1320.00]<br> AQR Capital Management : Alternative Risk Premia : -4.91% [0.00]<br> Blackrock : Style Advantage : 0.74% [142.44]<br> BNP Theam : Quant Equity : 4.94% [14.58]<br> Franklin K2 : Athena Risk : -1.95% [113.45]<br> Candriam Investors Group : Candriam Multi Asset Premia : 0.41% [0.00]<br> Nordea Asset Management : Nordea 1 Alpha 15 MA Fund : -4.14% [2194.89]<br> Allianz Global Investors : Volatility Strategy : -7.74% [469.74]<br> Danske Bank Asset Management : Global Alternative Opportunities : -9.05% [842.40]<br> Catalyst Funds : Systematic Alpha : -4.73% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/RiskPremiaTopBottom5YTD2025-04.png)
To explore the full list of Risk Premia strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.
Crypto Strategies
![stvgny2 : STVGNY2 : 45.25% [0.00]<br> TitaniumStrategy Titanium : JASMYSTRATEGY : 39.72% [0.00]<br> Future Chain Index : Future Chain Index : 38.36% [0.00]<br> BlockRock Outstandin Pac : BLOCKROCK : 32.60% [0.00]<br> Motus Capital Management : Digital Growth : 29.13% [25.00]<br> Asymmetric Technologies : Asymmetric Liquid Alpha : -13.24% [44.21]<br> Arctur DeFi : MULHACEN : -14.38% [0.00]<br> DutchEd Larg Calculu : DUTCHED : -17.70% [0.00]<br> Larg Calculu : DUTCHED2 : -18.03% [0.00]<br> Andy Storm : CRYPTOALLIEN : -20.66% [0.00]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/CryptoTopBottom5MTD2025-04.png)
![SDI Partners : Accredited Partner Account : 13.68% [712.42]<br> Coincident Capital : Coincident : 12.00% [458.00]<br> Fore Elite Capital Management : ForeElite Flagship Fund : 3.11% [173.47]<br> Incrementum AG : Digital & Physical Gold : 9.78% [26.00]<br> MeteFatih : METEFATIH : 18.93% [0.00]<br> Ape Capital : RIIKODC : -0.16% [0.00]<br> Andy Storm : CRYPTOALLIEN : -20.66% [0.00]<br> Dazza LT : DAZZALTHOLD : 16.89% [0.00]<br> Pro Crypto Daytrading Group : FEELING : 20.38% [0.00]<br> Asymmetric Technologies : Asymmetric Liquid Alpha : -13.24% [44.21]<br> >](https://nilssonhedge.com/srv/htdocs/wp-content/uploads/IndexCharts/CryptoTopBottom5YTD2025-04.png)
To explore the full list of Risk Premia strategies and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided.