Discretionary CTA Index Constituents


Our indices are based on the composition of the database, creating a representative sample of managers that are available for investment each year. At the end of January, we form constituent list based on managers that have reported December returns for the prior year. The list remains constant throughout the year. Thus, the number of managers included in the index will fluctuate. Non-reporting managers are replaced with the average return of the index. 

The Discretionary CTA Index starts in 2019, as a subset of the main CTA index. Below are the individual managers in the index for each year.

  • 2021
  • 2020
  • 2019
Absolute InsightCurrency
Aetolian Advisors  / Newton Capital Partners LPNewton Capital Partners LP
AG Capital InvestmentsDiscretionary Global Macro
AIS Capital ManagementMAAP 2-4X
AIS Capital ManagementMAAP 3-6X
AlessiaAbsolute Return Macro
Alternative Capital AdvisorsStrategic Ag Program
Amapa Capital AdvisorsAmapa Investment Program
AmundiAbsolute Return Multi
AmundiAbsolute Volatility Euro
AmundiAbsolute Volatility World
AmundiGlobal Macro Bonds
AmundiGlobal Macro Bonds Low Vol
AmundiGlobal Macro Forex
Ansbacher Investment ManagementElizaville Partners
AP FuturesVolatility Trading Program
Applied InvestmentsAlpha Vol
Arion Investment ManagementArion Copper Arbitrage
Artemis Capital ManagementVega Fund
BlackrockMacro Opportunities
Blake Capital ManagementSRD Currencies
Blue Bar Futures Trading ManagementPrime Ag Program
Blue Bar Futures Trading ManagementU.S. Commodity Diversified
Blue Diamond Asset ManagementBlue Diamond Non-Directional Strategy
Bocken TradingDiscretionary Trading Program
BovellGlobal Macro
Brisslen Capital ManagementBrisslen Energy Strategy
ButtonwoodEnergy Diversified
Carbide CapitalAbsolute Return
Carbide CapitalHedge Program
Certeza Asset ManagementTactical Volatility
Chelton WealthChelton Wealth Alternativ
CIBC Asset ManagementCIBC Abs Return Active Currency 12% Ris
CIBC Asset ManagementCIBC Unconstrained Active Currency Fund
Coloma Capital FuturesHedged Volatility
CoreCommodity ManagementDiversified Portable Alpha
CoreCommodity ManagementFounders Absolute Return (FAR)
County CorkRLA I Program
Crediton HillManaged Account
Crescent Bay Capital ManagementConservative Growth Index Program
Crescit Asset ManagementCrescit
Crescit Asset ManagementCrescit Protect
Danske Bank Asset ManagementDanske Invest Global Cross Asset Volatility
Davis CommoditiesAgricultural Program
Demeter Capital ManagementLivestock & Grain Trading Program
Ditsch TradingAgricultural Trading Program
Dynamica Global InvestmentsDynamica Energy Trading
e360 Powere360 Power Strategy
Essex Capital ManagementS&P Option Selling Strategy
Evergreen Commodity AdvisorsDiscretionary Energy Strategy
Four Seasons CommoditiesHawkeye Spread Program
Future Trade AGThales Swing Trading Programme
FX NOR ASGlobal Makro
Gamma QBreckhurst Commodity 2x
Geosol CapitalOnshore I
Goldman Sach ManagementGoldman Sachs Mngd Futures Strat Instl
Graham Capital Mgmt LPGraham Macro UCITS
Greenwave Capital ManagementFlagship Plus
Greenwave Capital ManagementFlagship Plus 2X
GZC Investment Management AGGZC Strategic Commodities Fund
H2OForce 10
Hornsby & CompanyRyan Alderson Intermediate Swing
HPX FinancialOld School Program
JPMorganGlobal Macro
Leapmach Capital Management LimtedDNST
LemanikGlobal Strategy
M&R CapitalLivestock Trading Program
Macrocapital LimitedMacrocapital Adaptive Volatility Strategy
Martin Fund ManagementMartin Options Program
Martin Fund ManagementRelative Value Agriculture Options
Massar Capital Management LPMassar Macro Commodity
Mercantile Analytics and TradingGlobal Diversified Commodity
Mobius Asset MgtMCR Trading Program
Neuberger Berman GroupDiversified Currency
NickJen Capital Management & ConsultantsNatural Resource Discretionary Program – NDR1
Northern Trace CapitalNorthern Trace Strategy
Ocean AretoArete Macro (Keplar)
Opus FuturesAdvanced Ag Trading Program
Opus FuturesOpus Macro Monitor Proprietary
Orgone Commodity ManagementOrgone AG 1
Ortus Capital Management LimitedCurrency – Aggressive
Ortus Capital Management LimitedOrtus Opportunity Fund
PacificG10 macro rates
PackCreek CapitalComposite
Pan Capital Management LPEnergy Fund
Pavlik Capital ManagementPavlik Capital Partners LLC
PIMCOEm Mkts Ccy and S/T Invsmt (daily)
Polar Asset Management ASValue
Quantix Commodities LPQuantix Commodity Alpha
RCMA CapitalMerchant Commodity Fund
Rhicon Currency Management PteRhicon Currency Alpha Strategy
Rhicon Currency Management PteStrategic Prog
Rosetta Capital ManagementRosetta Macro Program
Rosetta Capital ManagementRosetta Trading Program
RTM Capital AdvisorsCore Indices Plus Strategy
RV CapitalAsia Opportunity
Sandpiper Asset ManagementSandpiper Global Macro Program
Schindler Capital ManagementDairy Advantage Program
Schindler Capital ManagementInstitutional Dairy Advantage
Sector Arc AdvisorsGlobal Lean Hog Ag
Shepherd EnergyShepherd Energy Portfolio
Sigma Advanced Capital ManagementGlobal Advanced Futures and Spread
Sizemore Capital ManagementBlue Orbit Capital
Statar CapitalNatural Gas Strategy
The Great O’NeillGreat O’Neill
Third Street Ag InvestmentsFundamental Discretionary Ag Program
TresidesTotal Return Commodities
Trigon Investment AdvisorsDiscretionary Macro
TruePartnerVolatility Arbitrage
Typhon Capital ManagementLeonidas Energy Strategy
Typhon Capital ManagementLeonidas Macro Fund
Typhon Capital ManagementPlutus Grain Strategy
Typhon Capital ManagementProteus Dynamic Volatility Program
Typhon Capital ManagementVulcan Metals Strategy
Typhon Capital ManagementZephyrus Livestock
UBSCurrency Allocation Return
Warrington Asset ManagementStrategic
Warrington Asset ManagementTactical Program
WellingtonGlobal Currency Absolute
Wharton Capital ManagementAgricultural Futures
White River GroupDynamic S&P Options Strategy
White River GroupStock Index Option Writing
Willowbridge AssociatesPrimary
Willowbridge AssociateswPraxis Futures Enhanced
World Cup AdvisorPetra Ilona Zacek Eclipse
World Cup AdvisorSebastian Baumgaertel Target Zones
Aetolian Advisors  / Newton Capital Partners LPNewton Capital Partners LP
AG Capital InvestmentsDiscretionary Global Macro
AIS Capital ManagementMAAP 2-4X
AIS Capital ManagementMAAP 3-6X
Alpha Centauri Capital ManagementTactical Opportunities
Alternative Capital AdvisorsStrategic Ag Program
Amapa Capital AdvisorsAmapa Investment Program
Ansbacher Investment ManagementElizaville Partners
AP FuturesVolatility Trading Program
Ardmore Systems TradingTrading Program
Arion Investment ManagementArion Copper Arbitrage
Artemis Capital ManagementHedgehog
Artemis Capital ManagementVega Fund
Aspen Trading GroupAspen Trading FX / S&P 500 Alpha
Aventis Asset ManagementDiversified Commodity Strategy
BlackBird Asset ManagementBlackBird Alpha Spread 2.5X
BlackBird Asset ManagementCommodity Spread
Blackheath Fund ManagementTactical FI Strategy
Blake Capital ManagementSRD Currencies
Blake Capital ManagementSRD Short Equities
Blue Bar Futures Trading ManagementPrime Ag Program
Blue Bar Futures Trading ManagementU.S. Commodity Diversified
Blue Diamond Asset ManagementBlue Diamond Non-Directional Strategy
Bocken TradingDiscretionary Trading Program
Brisslen Capital ManagementBrisslen Energy Strategy
ButtonwoodEnergy Diversified
Carbide CapitalAbsolute Return
Carbide CapitalHedge Program
Catalyst Capital AdvisorsHedged Futures Strategy
Certeza Asset ManagementTactical Volatility
Chelton WealthChelton Wealth Alternativ
Coloma Capital FuturesHedged Volatility
Commodity Asset ManagementFutures Only
CoreCommodity ManagementDiversified Portable Alpha
CoreCommodity ManagementFounders Absolute Return (FAR)
County CorkRLA I Program
Crediton HillManaged Account
Crescent Bay Capital ManagementConservative Growth Index Program
Crescent Bay Capital ManagementPremium Stock Index Program
Crescit Asset ManagementCrescit
Crescit Asset ManagementCrescit Protect
Crow TradingCrow Trading Inc.
Crow TradingNon QEP
Danske Bank Asset ManagementDanske Invest Global Cross Asset Volatility
Danske Bank Asset ManagementDanske Invest Global Macro Hedge Fund
Davis CommoditiesAgricultural Program
Demeter Capital ManagementLivestock & Grain Trading Program
District Capital ManagementDiversified
Ditsch TradingAgricultural Trading Program
Dynamica Global InvestmentsDynamica Energy Trading
e360 Powere360 Power Strategy
Esulep ManagementIndex Opportunity Program
Evergreen Commodity AdvisorsDiscretionary Energy Strategy
Future Trade AGThales Swing Trading Programme
Geosol CapitalOnshore I
Goldman Sach ManagementGoldman Sachs Mngd Futures Strat Instl
Graham Capital Mgmt LPGraham Macro UCITS
Greenwave Capital ManagementFlagship Plus
Greenwave Capital ManagementFlagship Plus (lag)
Greenwave Capital ManagementFlagship Plus 2X
Greenwave Capital ManagementGreenwave Global Macro Fund LP
Gregory P Asset ManagementLow Volatility Income Strategy
Gregory P Asset ManagementSeasonal Spread & Option Strategy
HPX FinancialOld School Program
Kazmarck CapitalOpportunities Program
Kronos ManagementEMMA Program
Leapmach Capital Management LimtedDNST
M&R CapitalLivestock Trading Program
Macrocapital LimitedMacrocapital Adaptive Volatility Strategy
Macrotheme Capital ManagementMacrotheme Opportunity
Martin Fund ManagementMartin Fund
Massar Capital Management LPMassar Macro Commodity
McMillan Asset ManagementVolatility Capture Program
Mercantile Analytics and TradingGlobal Diversified Commodity
Mistell Management LPMistell Macro Directional
Mobius Asset MgtMCR Trading Program
NickJen Capital Management & ConsultantsNatural Resource Discretionary Program – NDR1
O’Brien Investment GroupDiscretionary Global Macro
Option Capital AdvisoryOCA Premium Robo
Opus FuturesAdvanced Ag Trading Program
Pan Capital Management LPEnergy Fund
Pavlik Capital ManagementPavlik Capital Partners LLC
PIMCOEm Mkts Ccy and S/T Invsmt (daily)
Polar Star ManagementPolar Star Spectrum Fund Limited
Pukula & CompanyYOOF Program
Quantix Commodities LPQuantix Commodity Alpha
RCMA CapitalMerchant Commodity Fund
Red Oak Commodity AdvisorsFundamental Trading Program
Rhicon Currency Management (Pte)Rhicon Currency Alpha Strategy
Rhicon Currency Management PteStrategic Prog
Rosetta Capital ManagementRosetta Macro Program
Rosetta Capital ManagementRosetta Trading Program
RTM Capital AdvisorsCore Indices Plus Strategy
Sandpiper Asset ManagementSandpiper Global Macro Program
Schindler Capital ManagementDairy Advantage Program
Schindler Capital ManagementInstitutional Dairy Advantage
Sector Arc AdvisorsGlobal Lean Hog Ag
Shepherd EnergyShepherd Energy Portfolio
Sigma Advanced Capital ManagementGlobal Advanced Futures and Spread
Statar CapitalNatural Gas Strategy
The Great O’NeillGreat O’Neill
Third Street Ag InvestmentsFundamental Discretionary Ag Program
Tiverton TradingDiscretionary Macro Program
Tlaloc CapitalGrains Program
Trigon Investment AdvisorsDiscretionary Macro
Warrington Asset ManagementStrategic
Warrington Asset ManagementTactical Program
Wharton Capital ManagementAgricultural Futures
White River GroupDiversified Option Writing
White River GroupDynamic S&P Options Strategy
White River GroupStock Index Option Writing
Willowbridge AssociateswPraxis Enhanced
World Cup AdvisorMarko Grcic Smart Systems
World Cup AdvisorMichael Cook Nexus
World Cup AdvisorPetra Ilona Zacek Eclipse
World Cup AdvisorWayne Wan Dowave
Aetolian Advisors  / Newton Capital Partners LPNewton Capital Partners LP
AG Capital InvestmentsDiscretionary Global Macro
AIS Capital ManagementMAAP 2-4X
AIS Capital ManagementMAAP 3-6X
Alpha Centauri Capital ManagementTactical Opportunities
AlphaGen Capital LimitedLong Short Agriculture Fund
Alternative Capital AdvisorsStrategic Ag Program
Amapa Capital AdvisorsAmapa Investment Program
Andurand Capital ManagementCommodities
Ansbacher Investment ManagementElizaville Partners
AP FuturesVolatility Trading Program
ArchSight Capital PartnersAbacus Trading Program
ArchSight Capital PartnersPrometheus Trading Program
Artemis Capital ManagementHedgehog
Artemis Capital ManagementVega Fund
Aspen Trading GroupAspen Trading FX / S&P 500 Alpha
Asymmetric Asset Management ASAsymmetric  Global Macro Fund
Aventis Asset ManagementDiversified Commodity Strategy
Bair Capital ManagementPolaris Program Pro
Bair Capital ManagementTriton Program  Pro
Bamboo TradingDiscretionary Macro
Bighorn Capital PartnersDenali Program
Blackheath Fund ManagementTactical FI Strategy
Blue Bar Futures Trading ManagementPrime Ag Program
Blue Bar Futures Trading ManagementU.S. Commodity Diversified
Blue Diamond Asset ManagementBlue Diamond Non-Directional Strategy
Bluenose Capital ManagementBNC BI Program
Bluenose Capital ManagementBNC CL Program
Bluenose Capital ManagementBNC EI Program
BNP Paribas Asset ManagementCurrency Alpha
Bocken TradingDiscretionary Trading Program
Brisslen Capital ManagementBrisslen Energy Strategy
Buckeye Partners GroupCabinet Blue Fund L.P
ButtonwoodEnergy Diversified
Carbide CapitalAbsolute Return
Carbide CapitalHedge Program
Catalyst Capital AdvisorsHedged Commodity Strategy
Catalyst Capital AdvisorsHedged Futures Strategy
Cogent Energy Investment ManagementCommodity Strategy
Coloma Capital FuturesHedged Volatility
Commodity Asset ManagementFutures Only
County CorkRLA I Program
Crediton HillManaged Account
Crescent Bay Capital ManagementConservative Growth Index Program
Crescent Bay Capital ManagementPremium Stock Index Program
Crescit Asset ManagementCrescit
Crow TradingCrow Trading Inc.
Crow TradingNon QEP
Danske Bank Asset ManagementDanske Invest Global Cross Asset Volatility Class Ceur p
Davis CommoditiesAgricultural Program
Demeter Capital ManagementLivestock & Grain Trading Program
Denali Asset ManagementDenali Partners Strategy
District Capital ManagementDiversified
Ditsch TradingAgricultural Trading Program
Doherty AdvisorsCompass
Doherty AdvisorsGrey Swan Hedge
Doherty AdvisorsOrion
Doherty AdvisorsRelative Value Growth
Doherty AdvisorsRelative Value Moderate
Doherty AdvisorsRelative Value Plus
Dynamica Global InvestmentsDynamica Energy Trading
e360 Powere360 Power Strategy
Enduring InvestmentsEnduring Commodity Alpha Fund LP
Essex Capital ManagementS&P Option Selling Strategy
Evergreen Commodity AdvisorsDiscretionary Energy Strategy
Future Legend USAUSA Options Approach Gold
Future Trade AGThales Swing Trading Programme
Gamma QBreckhurst Commodity
Gamma QBreckhurst Commodity 2x
Geosol CapitalOnshore I
Geosol CapitalSMA
Goldman ManagementStock Index Futures
Graham Capital Mgmt LPGraham Macro UCITS
Greenwave Capital ManagementFlagship Plus
Greenwave Capital ManagementFlagship Plus 2X
Greenwave Capital ManagementGreenwave Global Macro Fund LP
Gregory P Asset ManagementAlternative Multi Strategy
Gregory P Asset ManagementLow Volatility Income Strategy
Gregory P Asset ManagementSeasonal Spread & Option Strategy
GZC Investment Management AGGZC Strategic Commodities Fund
H2O AMForce 10
HB Capital ManagementDiversified Program
Hehmeyer Capital ManagementChelsea Creek
Hehmeyer Capital ManagementHOGO
HPX FinancialOld School Program
Ilgenwald TradingIlgenwald Trading Program
Jaguar InvestmentsUltro Capital Strategy
Jaguar InvestmentsVario Strategy
Kazmarck CapitalOpportunities Program
King William Street Capital ManagementKing William Street Capital Management SP
Kopis Capital ManagementCommodity Long Short
Kronos ManagementEMMA Program
Leapmach Capital Management LimtedDNST
M&R CapitalLivestock Trading Program
Mako Capital ManagementMako Partners Investment Fund LLC
MastenLojkoFutures Discretionary Trading
MDC TradingMDLC Global
Mercantile Analytics and TradingGlobal Diversified Commodity
Mistell Management LPMistell Onshore Fund
Mobius Asset MgtMCR Trading Program
MoongateMG Commodity IC SICAV
NickJen Capital Management & ConsultantsNatural Resource Discretionary Program – NDR1
O’Brien Investment GroupDiscretionary Global Macro
Opus FuturesAdvanced Ag Trading Program
Orgone Commodity ManagementOrgone Commodity Management
Ortus Capital Management LimitedCurrency – Aggressive
Ortus Capital Management LimitedOrtus Opportunity Fund
PAK CapitalCurrency Program
PAK CapitalSmall Accounts Program
Pan Capital Management LPEnergy Fund
PIMCOCommodity Alpha Fund
Pukula & CompanyYOOF Program
RCMA CapitalMerchant Commodity Fund
RCube Asset ManagementCommodity Spread
Red Oak Commodity AdvisorsFundamental Trading Program
Rhicon Currency Management PteStrategic Prog
Rhicon Currency Management PteStrategic Prog 2x
Robot FuturesCLIMALOGIX
Rosetta Capital ManagementRosetta Macro Program
Rosetta Capital ManagementRosetta Trading Program
RVI Partners LPRVI Partners LP
Sandpiper Asset ManagementSandpiper Global Macro Program
Schindler Capital ManagementDairy Advantage Program
Schindler Capital ManagementInstitutional Dairy Advantage
Sector Arc AdvisorsGlobal Lean Hog Ag
Shepherd EnergyShepherd Energy Portfolio
Sidewinder Investment AGSidewinder Energy Fund Ltd
Sigma Advanced Capital ManagementGlobal Advanced Futures and Spread
Sonya Capital ManagementSonya Capital Partners LLC
The Great O’NeillGreat O’Neill
Third Street Ag InvestmentsFundamental Discretionary Ag Program
Three Rock Capital ManagementGlobal Macro
Tiverton TradingDiscretionary Macro Program
Tlaloc CapitalGrains Program
TMS Capital LimitedArktos GCS II
Tom CapitalModerate Model Portfolio
Trading StudyTSP500
Trigon Investment AdvisorsDiscretionary Macro
Tyche Capital AdvisorsGlobal Macro
Tyche Capital AdvisorsTCA Institutional Spreads
Typhon Capital ManagementLeonidas Energy Strategy
Typhon Capital ManagementLeonidas Macro Fund
Typhon Capital ManagementPlutus Grain Strategy
Typhon Capital ManagementProteus Dynamic Volatility Program
Typhon Capital ManagementVulcan Metals Fund
Typhon Capital ManagementVulcan Metals Strategy
Typhon Capital ManagementZephyrus Livestock
Valia Capital ManagementGlobal Tactical Program
Warrington Asset ManagementStrategic
Warrington Asset ManagementTactical Program
Wharton Capital ManagementAgricultural Futures
White River GroupDiversified Option Writing
White River GroupDynamic S&P Options Strategy
White River GroupStock Index Option Writing
Wisdom Capital ManagementWisdom