EVALS Q3 2010 Update

In an effort to update EVALS in a more timely fashion, I have attached a spreadsheet of the results of EVALS for the 3^rd quarter of 2010.

As shown in the graphic below, EVALS turned in a very strong quarter, topping the benchmark S&P 500 index by 4.0% in July, 1.8% in August and 3.1% in September. For the first three quarters of 2010, EVALS is beating the SPX by 10.2%. Going back to the August 21, 2008 inception, EVALS is still showing a small cumulative loss, yet is outperforming the SPX by 5.3% during that period.

Many of the same themes that were responsible for the mixed 2^nd quarter performance have shined since stocks bottomed at the end of June. Among the most profitable positions were short volatility, long emerging markets and long commodities.

The graphic below shows the monthly performance for EVALS and the SPX since the August 21, 2008 inception. Note that detailed monthly performance data for 2008 and 2009 can be found here.

Disclosure(s): none