About the Author vii Introduction ix 1: Select Investment Advantages and Potential Risks of Managed Futures 1 Historical Background on Futures and Managed Futures 1 Distinguishing between Physical Commodities, Futures, and Managed Futures 2 Select Advantages of Managed Futures 3 Potential Investment Risks of Managed Futures Funds 5 Placing Managed Futures in an Investment Context 6 Essential Differences between Managed Futures and Other Asset Classes 8 Select Risk Management Strategies Pursued by Managed Futures Advisers 9 Special Considerations Associated with Managed Futures Funds 10 Fees and Expenses Associated with Managed Futures Funds 11 Investment Approaches of Managed Futures Funds 12 Select Insights into Managed Futures Returns Patterns 13 Managed Futures Funds Compared with Hedge Funds 15 Trend Characteristics and Underlying Drivers of Managed Futures 16 Evolution of the Futures Markets 16 Actively Traded Futures and Options Contracts in the United States 16 2: Summary of Managed Futures Investment Performance and Correlation 21 Select Managed Futures Indices' Performance 21 Managed Futures Returns during Financial Market Dislocations 25 The Barclay CTA Index and Survivorship Bias 26 Patterns of Managed Futures Returns 27 The CISDM CTA Equal-Weighted Index 32 Analysis of Select Asset Class Returns 35 3: Overview of the Investment Landscape 39 Global Futures Exchanges and Clearinghouses 41 4: Glossary of Indexes 45 5: Select Information Sources 49 Acknowledgments 51.