Meet the big winners of 2026 oil price volatility -- and why their strategies are now shifting focus

Meet the big winners of oil price volatility in 2026, as trend-following CTAs ride one of their strongest environments in years even as momentum cools. SG CTAsIndex is up 11.9% year-to-date through June 2, with the SG Trend Index posting an 11.8% gain over the same period. Energy commodities have driven much of the CTAs’ gains since the Middle East conflict intensified, though firms are now trimming oil exposure amid mixed signals from U.S.–Iran diplomacy. Industry executives note the disruption from an energy squeeze is broader and deeper than past shocks, raising questions about how persistent the current regime will prove, and whether another banner year could be on the horizon.