Joshua Tree Capital Management

Diversified Trend Program
Performance Report
February 2026
Investment Objective & Strategy

Joshua Tree Capital Management operates a disciplined, rules-based trend-following strategy across global futures markets. The Diversified Trend Program is designed to capture sustained market trends while strictly controlling risk through predefined position sizing, stop-losses, and portfolio constraints. The program trades 25 global futures markets across diversified commodity and financial futures.

The strategy seeks to generate absolute returns over full market cycles, independent of traditional equity or fixed income benchmarks. Risk is actively managed but not suppressed to accommodate benchmark tracking or volatility targeting. Our approach is systematic, math-based, and designed to perform across a wide range of market environments, focusing on process over prediction.

Key Reasons to Invest
  • Fully systematic execution with no discretionary intervention or emotional decision-making
  • True diversification that complements traditional portfolios
  • Low correlation to equities, bonds, and traditional 60/40 allocations
  • Disciplined risk management through volatility-based position sizing and portfolio constraints
  • Diversified across 25 global futures markets, long and short
Key Statistics
Total Return+104.60%
Annualized Return+99.1%
Ann. Volatility83.2%
Sharpe Ratio1.19
Sortino Ratio1.18
MAR Ratio1.78
Max Drawdown-55.78%
Winning Months (%)61.5%
Avg. Margin / Equity~24%
High-Water MarkYes
Avg. Holding Period3–6 Months
Correlation to S&P 500-0.13
AUM$111,073
Min. Investment$25,000
Relative Performance (VAMI) — Growth of $1,000
$500$1,000$1,500$2,000$2,500$2,042InceptionMar 2025May 2025Jul 2025Sep 2025Nov 2025Jan 2026
JTCM 60/40 (AOR) Managed Futures (DBMF)
Benchmark Comparison
Metric JTCM 60/40 (AOR) DBMF
Total Return +104.60% +17.6% +24.1%
Ann. Return +99.1% +16.1% +22.1%
Ann. Volatility 83.2% 5.1% 9.2%
Max Drawdown -55.78% -2.1% -4.1%
Sharpe Ratio 1.19 2.09 1.74
Sortino Ratio 1.18 1.77 2.96
Correlation to JTCM -0.06 0.13
*Since inception (Feb 2025)
Monthly Net Returns
Year JanFebMarAprMayJun JulAugSepOctNovDec YTD
2026+4.76+4.76
2025-3.59+26.72-47.95-15.05+20.40-8.85+47.32+16.41+2.28+24.96+50.95+96.15
Investment Manager

Joshua Mukoro / Founder & Portfolio Manager: Joshua Mukoro is the Founder and Portfolio Manager of Joshua Tree Capital Management, responsible for all investment decisions, research, and portfolio construction. He holds a B.A. in Psychology from the University of North Carolina at Chapel Hill, an MBA, and a Master’s in Information Systems Management from Lamar University. Joshua serves on active duty in the United States Air Force, where he oversees mission-critical operations requiring strict process adherence, risk containment, and operational continuity. He has been decorated for leadership throughout his service, from a deployment to Kuwait to crisis operations during hurricane recovery efforts. That same discipline drives the fund’s systematic approach.

General Information
Firm InceptionFebruary 2025
Markets Traded25 Global Futures
ProcessSystematic, Quantitative
DirectionalLong / Short
LiquidityMonthly
Lock-upNone
ExemptionCFTC Rule 4.13(a)(2)