10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Period Ended June 30, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 000-51274

EQUINOX FRONTIER FUNDS

EQUINOX FRONTIER DIVERSIFIED FUND;

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND;

EQUINOX FRONTIER MASTERS FUND;

EQUINOX FRONTIER BALANCED FUND;

EQUINOX FRONTIER SELECT FUND;

EQUINOX FRONTIER WINTON FUND;

EQUINOX FRONTIER HERITAGE FUND

(Exact Name of Registrant as specified in its Charter)

Delaware	36-6815533
(State of Organization)	(IRS Employer Identification No.)

c/o Equinox Fund Management, LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

(Address of Principal Executive Offices)

(303) 837-0600

(Registrant’s Telephone Number)

Securities to be registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

Equinox Frontier Diversified Fund Class 1, Class 2 and Class 3 Units;

Equinox Frontier Long/Short Commodity Fund Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a Units;

Equinox Frontier Masters Fund Class 1, Class 2 and Class 3 Units;

Equinox Frontier Balanced Fund Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a Units;

Equinox Frontier Select Fund Class 1, Class 2 and Class 3 Units;

Equinox Frontier Winton Fund Class 1, Class 2 and Class 3 Units;

Equinox Frontier Heritage Fund Class 1, Class 2 and Class 3 Units

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files)    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	¨	Accelerated Filer	¨
Non-Accelerated Filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 1 2b-2 of the Exchange Act).    Yes  ¨    No  x

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements
	Statements of Financial Condition as of June 30, 2015 (Unaudited) and December 31, 2014	4
	Condensed Schedules of Investments as of June 30, 2015 (Unaudited) and December 31, 2014	7
	Statements of Operations for the three and six months ended June 30, 2015 and 2014 (Unaudited)	13
	Statements of Changes in Owners’ Capital for the six months ended June 30, 2015 (Unaudited)	19
	Statements of Cash Flows for the six months ended June 30, 2015 and 2014 (Unaudited)	23
	Notes to Financial Statements (Unaudited)	26
	Trust Financial Statements (1)
	Consolidated Statements of Financial Condition as of June 30, 2015 (Unaudited) and December 31, 2014	60
	Consolidated Condensed Schedules of Investments as of June 30, 2015 (Unaudited) and December 31, 2014	61
	Consolidated Statements of Operations for the three and six months ended June 30, 2015 and 2014 (Unaudited)	63
	Consolidated Statement of Changes in Owners’ Capital for the six months ended June 30, 2015 (Unaudited)	65
	Consolidated Statements of Cash Flows for the six months ended June 30, 2015 and 2014 (Unaudited)	66
	Notes to Consolidated Financial Statements (Unaudited)	67
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	83
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	110
Item 4.	Controls and Procedures	115
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	115
Item 1A.	Risk Factors	115
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	115
Item 3.	Defaults Upon Senior Securities	116
Item 4.	Mine Safety Disclosures	116
Item 5.	Other Information	116
Item 6.	Exhibits	116
SIGNATURES		117

(1) These financial statements represent the consolidated financial statements of the Series of the Trust.

2

Special Note About Forward-Looking Statements

THIS REPORT CONTAINS STATEMENTS WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS REFLECT THE MANAGING OWNER’S CURRENT EXPECTATIONS ABOUT THE FUTURE RESULTS, PERFORMANCE, PROSPECTS AND OPPORTUNITIES OF THE TRUST. THE MANAGING OWNER HAS TRIED TO IDENTIFY THESE FORWARD-LOOKING STATEMENTS BY USING WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “BELIEVE,” “INTEND,” “SHOULD,” “ESTIMATE” OR THE NEGATIVE OF THOSE TERMS OR SIMILAR EXPRESSIONS. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON INFORMATION CURRENTLY AVAILABLE TO THE MANAGING OWNER AND ARE SUBJECT TO A NUMBER OF RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN, SUCH AS THOSE DESCRIBED IN THE “RISK FACTORS” SECTION UNDER ITEM 1A AND ELSEWHERE IN THIS REPORT, AND UNKNOWN, THAT COULD CAUSE THE TRUST’S ACTUAL RESULTS, PERFORMANCE, PROSPECTS OR OPPORTUNITIES TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN, OR IMPLIED BY, THESE FORWARD-LOOKING STATEMENTS.

YOU SHOULD NOT PLACE UNDUE RELIANCE ON ANY FORWARD-LOOKING STATEMENTS. EXCEPT AS EXPRESSLY REQUIRED BY THE FEDERAL SECURITIES LAWS, THE MANAGING OWNER UNDERTAKES NO OBLIGATION TO PUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS OR THE RISKS, UNCERTAINTIES OR OTHER FACTORS DESCRIBED HEREIN, AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR CHANGED CIRCUMSTANCES OR FOR ANY OTHER REASON AFTER THE DATE OF THIS REPORT.

UNLESS EXPRESSLY STATED OTHERWISE, ALL INFORMATION IN THIS REPORT IS AS OF JUNE 30, 2015, AND THE MANAGING OWNER UNDERTAKES NO OBLIGATION TO UPDATE THIS INFORMATION.

3

PART I. FINANCIAL INFORMATION

ITEM 1. Financial Statements

The Series of Equinox Frontier Funds

Statements of Financial Condition

June 30, 2015 (Unaudited) and December 31, 2014

	Equinox Frontier Diversified Fund				Equinox Frontier Masters Fund				Equinox Frontier Long/Short Commodity Fund
	6/30/2015		12/31/2014		6/30/2015		12/31/2014		6/30/2015		12/31/2014
ASSETS
Cash and cash equivalents	$	4,827,779	$	4,210,638	$	1,978,484	$	2,199,066	$	1,119,846	$	1,110,779
U.S. Treasury securities, at fair value		29,071,240		31,051,659		11,913,754		16,217,173		6,743,330		8,191,519
Open trade equity, at fair value		—		3,215,206		—		—		—		—
Options purchased, at fair value		374,470		288,413		—		—		—		—
Receivable from futures commission merchants		14,670,707		22,731,129		—		—		—		—
Swap contracts, at fair value		7,615,169		6,570,408		—		—		4,304,209		3,633,060
Investments in unconsolidated trading companies, at fair value		6,198,464		6,594,379		8,767,520		7,901,978		3,896,994		3,814,854
Prepaid service fees - Class 1		23,618		9,534		5,889		6,003		410		505
Interest receivable		498,272		477,250		204,198		249,250		115,577		125,900
Receivable from related parties		—		—		2,976		3,050		2,082		2,612
Other assets		—		249,997		—		—		—		—
Total Assets	$	63,279,719	$	75,398,613	$	22,872,821	$	26,576,520	$	16,182,448	$	16,879,229
LIABILITIES & CAPITAL
LIABILITIES
Open trade deficit, at fair value	$	571,551	$	—	$	—	$	—	$	—	$	—
Options written, at fair value		219,660		253,018		—		—		—		—
Pending owner additions		1,320		1,527		1,566		2,056		—		—
Owner redemptions payable		—		57,953		—		—		796		19,578
Incentive fees payable to Managing Owner		4,000		2,387,825		41,071		722,043		40,149		158,660
Management fees payable to Managing Owner		83,476		86,486		60,312		64,497		45,710		45,361
Interest payable to Managing Owner		15,798		16,168		5,738		6,898		3,616		3,713
Service fees payable to Managing Owner		36,650		34,905		15,452		17,260		9,149		10,562
Trading fees payable to Managing Owner		124,327		132,984		50,813		55,912		21,626		24,436
Payables to related parties		3,544		2,371		—		—		—		—
Other liabilities		—		—		—		—		—		—
Total Liabilities		1,060,326		2,973,237		174,952		868,666		121,046		262,310
CAPITAL
Managing Owner Units - Class 1		—		—		—		—		—		—
Managing Owner Units - Class 2		2,594,028		2,516,879		688,269		723,207		456,774		426,377
Managing Owner Units - Class 2a		—		—		—		—		264,519		247,434
Managing Owner Units - Class 3		32,642		31,632		31,198		32,741		—		—
Managing Owner Units - Class 3a		—		—		—		—		13,088		12,228
Limited Owner Units - Class 1		15,940,760		19,195,036		9,077,720		11,850,911		—		—
Limited Owner Units - Class 1a		—		—		—		—		5,306,714		5,776,906
Limited Owner Units - Class 2		29,124,659		32,707,413		7,316,511		8,145,536		705,224		820,104
Limited Owner Units - Class 2a		—		—		—		—		1,284,389		1,455,117
Limited Owner Units - Class 3		7,434,967		5,556,649		5,584,171		4,955,459		7,309,331		7,233,099
Limited Owner Units - Class 3a		—		—		—		—		721,363		645,654
Total Owners’ Capital		55,127,056		60,007,609		22,697,869		25,707,854		16,061,402		16,616,919
Non-Controlling Interests		7,092,337		12,417,767		—		—		—		—
Total Capital		62,219,393		72,425,376		22,697,869		25,707,854		16,061,402		16,616,919
Total Liabilities and Capital	$	63,279,719	$	75,398,613	$	22,872,821	$	26,576,520	$	16,182,448	$	16,879,229
Units Outstanding
Class 1		137,951		169,725		82,514		101,632		N/A		N/A
Class 1a		N/A		N/A		N/A		N/A		49,518		57,130
Class 2		246,850		282,534		65,443		69,003		7,843		9,013
Class 2a		N/A		N/A		N/A		N/A		13,013		15,291
Class 3		62,912		48,583		49,497		41,897		49,320		52,285
Class 3a		N/A		N/A		N/A		N/A		6,139		5,886
Net Asset Value per Unit
Class 1	$	115.55	$	113.09	$	110.01	$	116.61		N/A		N/A
Class 1a		N/A		N/A		N/A		N/A	$	107.17	$	101.12
Class 2	$	128.49	$	124.67	$	122.32	$	128.53	$	148.16	$	138.30
Class 2a		N/A		N/A		N/A		N/A	$	119.03	$	111.35
Class 3	$	118.70	$	115.03	$	113.45	$	119.06	$	148.20	$	138.34
Class 3a		N/A		N/A		N/A		N/A	$	119.64	$	111.77

The accompanying notes are an integral part of these financial statements.

4

The Series of Equinox Frontier Funds

Statements of Financial Condition

June 30, 2015 (Unaudited) and December 31, 2014

	Equinox Frontier Balanced Fund				Equinox Frontier Select Fund
	6/30/2015		12/31/2014		6/30/2015		12/31/2014
ASSETS
Cash and cash equivalents	$	7,863,320	$	5,644,510	$	401,143	$	878,280
U.S. Treasury securities, at fair value		47,350,232		41,625,860		2,415,549		6,476,939
Receivable from futures commission merchants		9,422,019		22,689,948		12,410,448		—
Open trade equity, at fair value		—		3,297,549		55,956		—
Options purchased, at fair value		—		—		—		—
Swap contracts, at fair value		18,491,634		18,246,954		—		—
Investments in unconsolidated trading companies, at fair value		14,333,796		18,343,927		4,013,269		8,102,141
Interest receivable		811,568		639,769		41,402		99,547
Prepaid service fees		—		—		—		—
Other assets		10		250,013		—		—
Total Assets	$	98,272,579	$	110,738,530	$	19,337,767	$	15,556,907
LIABILITIES & CAPITAL
LIABILITIES
Open trade deficit, at fair value	$	778,963	$	—	$	—	$	—
Options written, at fair value		—		—		—		—
Pending owner additions		17,442		18,002		1,411		1,485
Owner redemptions payable		9,088		22,793		—		15,432
Incentive fees payable to Managing Owner		9,517		1,793,318		—		185,791
Management fees payable to Managing Owner		91,646		101,208		26,065		27,835
Interest payable to Managing Owner		101,040		84,976		6,451		13,263
Service fees payable to Managing Owner		156,201		167,151		29,617		32,520
Trading fees payable to Managing Owner		65,193		66,037		9,285		10,119
Payables to related parties		19,434		14,934		1,195		984
Other liabilities		—		—		—		—
Total Liabilities		1,248,524		2,268,419		74,024		287,429
CAPITAL
Managing Owner Units - Class 2		1,449,802		1,425,355		8,389		9,052
Managing Owner Units - Class 2a		193,476		189,344		—		—
Limited Owner Units - Class 1		68,562,471		72,098,275		12,000,655		13,663,563
Limited Owner Units - Class 1AP		724,876		748,275		45,084		47,785
Limited Owner Units - Class 2		22,025,164		22,125,342		1,298,229		1,549,078
Limited Owner Units - Class 2a		359,830		410,943		—		—
Limited Owner Units - Class 3a		2,534,161		2,528,303		—		—
Total Owners’ Capital		95,849,780		99,525,837		13,352,357		15,269,478
Non-Controlling Interests		1,174,275		8,944,274		5,911,386		—
Total Capital		97,024,055		108,470,111		19,263,743		15,269,478
Total Liabilities and Capital	$	98,272,579	$	110,738,530	$	19,337,767	$	15,556,907
Units Outstanding
Class 1		520,129		548,117		137,450		142,913
Class 1AP		5,351		5,618		503		494
Class 2		128,815		131,447		10,973		12,128
Class 2a		3,539		3,923		N/A		N/A
Class 3a		16,261		16,577		N/A		N/A
Net Asset Value per Unit
Class 1	$	131.82	$	131.54	$	87.31	$	95.61
Class 1AP	$	135.49	$	133.20	$	89.74	$	96.82
Class 2	$	182.24	$	179.16	$	119.09	$	128.48
Class 2a	$	156.36	$	153.02		N/A		N/A
Class 3a	$	155.85	$	152.52		N/A		N/A

The accompanying notes are an integral part of these financial statements.

5

The Series of Equinox Frontier Funds

Statements of Financial Condition

June 30, 2015 (Unaudited) and December 31, 2014

	Equinox Frontier Winton Fund				Equinox Frontier Heritage Fund
	6/30/2015		12/31/2014		6/30/2015		12/31/2014
ASSETS
Cash and cash equivalents	$	4,254,223	$	4,012,974	$	947,643	$	921,598
U.S. Treasury securities, at fair value		25,617,478		29,593,974		5,706,384		6,796,392
Investments in unconsolidated trading companies, at fair value		6,749,039		7,479,658		1,398,043		1,543,386
Swap contracts, at fair value		—		—		7,809,251		7,540,465
Interest receivable		439,076		454,845		97,804		104,457
Other assets		—		—		—		—
Total Assets	$	37,059,816	$	41,541,451	$	15,959,125	$	16,906,298
LIABILITIES & CAPITAL
LIABILITIES
Pending owner additions	$	14,095	$	15,503	$	3,334	$	3,381
Owner redemptions payable		—		21,902		—		21,408
Incentive fees payable to Managing Owner		—		1,178,364		—		239,327
Management fees payable to Managing Owner		102,252		114,823		23,699		27,944
Interest payable to Managing Owner		61,319		63,722		13,738		14,543
Service fees payable to Managing Owner		46,288		52,753		19,744		20,964
Trading fees payable to Managing Owner		24,963		26,690		8,305		8,676
Payables to related parties		24,445		16,461		3,773		3,178
Other liabilities		—		—		—		—
Total Liabilities		273,362		1,490,218		72,593		339,421
CAPITAL
Managing Owner Units - Class 2		44,739		46,764		74,291		75,621
Limited Owner Units - Class 1		24,319,904		26,870,878		9,141,028		9,761,819
Limited Owner Units - Class 1AP		36,395		38,042		58,494		58,378
Limited Owner Units - Class 2		12,385,416		13,095,549		2,973,068		3,131,561
Total Owners’ Capital		36,786,454		40,051,233		12,246,881		13,027,379
Non-Controlling Interests		—		—		3,639,651		3,539,498
Total Capital		36,786,454		40,051,233		15,886,532		16,566,877
Total Liabilities and Capital	$	37,059,816	$	41,541,451	$	15,959,125	$	16,906,298
Units Outstanding
Class 1		146,641		152,717		72,489		74,927
Class 1AP		214		214		452		443
Class 2		57,432		58,093		17,568		18,164
Net Asset Value per Unit
Class 1	$	165.85	$	175.95	$	126.10	$	130.28
Class 1AP	$	170.46	$	178.18	$	129.61	$	131.93
Class 2	$	216.43	$	226.23	$	173.45	$	176.56

The accompanying notes are an integral part of these financial statements.

6

The Series of Equinox Frontier Funds

Consolidated Schedule of Investments (Unaudited)

June 30, 2015

		Equinox Frontier Diversified Fund						Equinox Frontier Masters Fund					Equinox Frontier Long/Short Commodity Fund
Description		Fair Value			% of Total Capital (Net Asset Value)			Fair Value		% of Total Capital (Net Asset Value)			Fair Value		% of Total Capital (Net Asset Value)
LONG FUTURES CONTRACTS
	Various base metals futures contracts (Europe)	$	(291,308	)		-0.47	%	$	—		0.00	%	$	—		0.00	%
	Various currency futures contracts (U.S.)		(50,148	)		-0.08	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		15,485			0.02	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Canada)		64,131			0.10	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Europe)		4,429			0.01	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Far East)		2,824			0.00	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		4,440			0.01	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		(37,598	)		-0.06	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		69,416			0.11	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Far East)		(37,878	)		-0.06	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		171,928			0.28	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Europe)		(96,010	)		-0.15	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Far East)		(43,706	)		-0.07	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		(369,243	)		-0.59	%		—		0.00	%		—		0.00	%
	Total Long Futures Contracts	$	(593,238	)		-0.95	%	$	—		0.00	%	$	—		0.00	%
SHORT FUTURES CONTRACTS
	Various base metals futures contracts (Europe)	$	210,919			0.34	%	$	—		0.00	%	$	—		0.00	%
	Various base metals futures contracts (U.S.)		(1,607	)		0.00	%		—		0.00	%		—		0.00	%
	Various currency futures contracts (U.S.)		49,895			0.08	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		(52,105	)		-0.08	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Canada)		(440	)		0.00	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Europe)		(72,587	)		-0.12	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		38			0.00	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		(19,502	)		-0.03	%		—		0.00	%		—		0.00	%
	Various precious metal futures contracts (U.S.)		147,760			0.24	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		(37,500	)		-0.06	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		(307,586	)		-0.49	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Europe)		38,769			0.06	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Far East)		(64,926	)		-0.10	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		233,381			0.38	%		—		0.00	%		—		0.00	%
	Total Short Futures Contracts	$	124,509			0.22	%	$	—		0.00	%	$	—		0.00	%
CURRENCY FORWARDS
	Various currency forwards contracts (NA)	$	(102,822	)		-0.17	%	$	—		0.00	%	$	—		0.00	%
	Total Currency Forwards	$	(102,822	)		-0.17	%	$	—		0.00	%	$	—		0.00	%
	Total Open Trade Equity (Deficit)	$	(571,551	)		-0.90	%	$	—		0.00	%	$	—		0.00	%
OPTIONS PURCHASED
	Various stock index futures contracts (U.S.)	$	374,470			0.60	%	$	—		0.00	%	$	—		0.00	%
	Total Options Purchased	$	374,470			0.60	%	$	—		0.00	%	$	—		0.00	%
OPTIONS WRITTEN
	Various stock index futures contracts (U.S.)	$	(219,660	)		-0.35	%	$	—		0.00	%	$	—		0.00	%
	Total Options Written	$	(219,660	)		-0.35	%	$	—		0.00	%	$	—		0.00	%
SWAPS (1)
	Frontier XXXV Diversified select swap (U.S.)	$	7,615,169			12.24	%		—		0.00	%	$	—		0.00	%
	Frontier XXXVII L/S select swap (U.S.)		—			0.00	%		—		0.00	%		4,304,209		26.80	%
	Total Swaps	$	7,615,169			12.24	%	$	—		0.00	%	$	4,304,209		26.80	%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Fair Value						Fair Value					Fair Value
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,934,764)	$	22,693,752			36.47	%	$	9,300,180		40.97	%	$	5,264,015		32.77	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,012,500)		6,377,488			10.25	%		2,613,574		11.51	%		1,479,315		9.21	%
		$	29,071,240			46.72	%	$	11,913,754		52.48	%	$	6,743,330		41.98	%

Additional Disclosure on U.S. Treasury Securities		Face Value		Face Value		Face Value
	US Treasury Note 6.000% due 02/15/2026 (2)	$	16,925,769	$	6,936,389	$	3,926,081
	US Treasury Note 6.875% due 08/15/2025 (2)		4,513,538		1,849,704		1,046,955
		$	21,439,307	$	8,786,093	$	4,973,036
Additional Disclosure on U.S. Treasury Securities		Cost		Cost		Cost
	US Treasury Note 6.000% due 02/15/2026 (2)	$	25,533,667	$	10,464,012	$	5,922,759
	US Treasury Note 6.875% due 08/15/2025 (2)		6,321,774		2,590,741		1,466,391
		$	31,855,441	$	13,054,753	$	7,389,150

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

7

The Series of Equinox Frontier Funds

Consolidated Schedule of Investments (Unaudited)

June 30, 2015

		Equinox Frontier Balanced Fund						Equinox Frontier Select Fund
Description		Fair Value			% of Total Capital (Net Asset Value)			Fair Value			% of Total Capital (Net Asset Value)
LONG FUTURES CONTRACTS
	Various base metals futures contracts (Europe)	$	(527,678	)		-0.54	%	$	(945,175	)		-4.91	%
	Various currency futures contracts (Singapore)		—			0.00	%		(364	)		0.00	%
	Various currency futures contracts (U.S.)		(46,926	)		-0.05	%		(31,965	)		-0.17	%
	Various energy futures contracts (Europe)		—			0.00	%		7,576			0.04	%
	Various energy futures contracts (Far East)		(2,367	)		0.00	%		—			0.00	%
	Various energy futures contracts (U.S.)		(153,601	)		-0.16	%		10,841			0.06	%
	Various interest rates futures contracts (Canada)		44,461			0.05	%		—			0.00	%
	Various interest rates futures contracts (Europe)		12,519			0.01	%		2,616			0.01	%
	Various interest rates futures contracts (Far East)		21,602			0.02	%		4,188			0.02	%
	Various interest rates futures contracts (Oceanic)		636			0.00	%		(3,153	)		-0.02	%
	Various interest rates futures contracts (U.S.)		121,458			0.13	%		45,209			0.23	%
	Various precious metal futures contracts (Far East)		(3,224	)		0.00	%		(906	)		0.00	%
	Various precious metal futures contracts (U.S.)		(35,955	)		-0.04	%		—			0.00	%
	Various soft futures contract (Europe)		(970	)		0.00	%		—			0.00	%
	Various soft futures contracts (Africa)		—			0.00	%		(454	)		0.00	%
	Various soft futures contracts (Canada)		12,047			0.01	%		1,178			0.01	%
	Various soft futures contracts (Europe)		28,604			0.03	%		29,280			0.15	%
	Various soft futures contracts (Oceanic)		—			0.00	%		(431	)		0.00	%
	Various soft futures contracts (U.S.)		479,697			0.49	%		76,239			0.40	%
	Various stock index futures contracts (Africa)		—			0.00	%		(1,893	)		-0.01	%
	Various stock index futures contracts (Canada)		(16,733	)		-0.02	%		—			0.00	%
	Various stock index futures contracts (Europe)		(169,832	)		-0.18	%		(8,607	)		-0.04	%
	Various stock index futures contracts (Far East)		(162,496	)		-0.17	%		(25,716	)		-0.13	%
	Various stock index futures contracts (Mexico)		184			0.00	%		118			0.00	%
	Various stock index futures contracts (Oceanic)		(6,474	)		-0.01	%		—			0.00	%
	Various stock index futures contracts (U.S.)		(413,569	)		-0.43	%		(113,462	)		-0.59	%
	Total Long Futures Contracts	$	(818,617	)		-0.86	%	$	(954,881	)		-4.95	%
SHORT FUTURES CONTRACTS
	Various base metals futures contracts (Europe)	$	472,034			0.49	%	$	1,098,409			5.70	%
	Various base metals futures contracts (U.S.)		7,838			0.01	%		20,730			0.11	%
	Various currency futures contracts (U.S.)		97,275			0.10	%		(92,798	)		-0.48	%
	Various energy futures contracts (Europe)		—			0.00	%		(149	)		0.00	%
	Various energy futures contracts (Far East)		4,164			0.00	%		(1,740	)		-0.01	%
	Various energy futures contracts (U.S.)		38,884			0.04	%		(43,047	)		-0.22	%
	Various interest rates futures contracts (Canada)		(1,393	)		0.00	%		(5,002	)		-0.03	%
	Various interest rates futures contracts (Europe)		8,798			0.01	%		11,917			0.06	%
	Various interest rates futures contracts (Far East)		214			0.00	%		—			0.00	%
	Various interest rates futures contracts (Oceanic)		13,172			0.01	%		(1,504	)		-0.01	%
	Various interest rates futures contracts (U.S.)		(44,189	)		-0.05	%		54,062			0.28	%
	Various precious metal futures contracts (Far East)		4,829			0.00	%		—			0.00	%
	Various precious metal futures contracts (U.S.)		19,350			0.02	%		180,010			0.93	%
	Various soft futures contract (Europe)		—			0.00	%		(800	)		0.00	%
	Various soft futures contracts (Europe)		(33,452	)		-0.03	%		(5,913	)		-0.03	%
	Various soft futures contracts (Far East)		2,939			0.00	%		—			0.00	%
	Various soft futures contracts (U.S.)		(385,677	)		-0.40	%		(275,325	)		-1.43	%
	Various stock index futures contracts (Africa)		389			0.00	%		—			0.00	%
	Various stock index futures contracts (Canada)		5,688			0.01	%		—			0.00	%
	Various stock index futures contracts (Europe)		871			0.00	%		88			0.00	%
	Various stock index futures contracts (Far East)		3,125			0.00	%		8,561			0.04	%
	Various stock index futures contracts (Oceanic)		26,744			0.03	%		6,243			0.03	%
	Various stock index futures contracts (U.S.)		25,654			0.03	%		31,562			0.16	%
	Total Short Futures Contracts	$	267,257			0.27	%	$	985,304			5.10	%
	CURRENCY FORWARDS
	Various currency forwards contracts (NA)	$	(227,603	)		-0.23	%	$	25,533			0.13	%
	Total Currency Forwards		$(227,603)			-0.23%			$25,533			0.13%
	Total Open Trade Equity (Deficit)		$(778,963)			-0.82%			$55,956			0.28%
	SWAPS (1)
	Frontier XXXIV Balanced select swap (U.S.)		$18,491,634			19.06%			$—			0.00%
	Total Swaps		$18,491,634			19.06%			$—			0.00%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Fair Value						Fair Value
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,934,764)	$	36,962,801			38.10	%	$	1,885,640			9.79	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,012,500)		10,387,431			10.71	%		529,909			2.75	%
		$	47,350,232			48.81	%	$	2,415,549			12.54	%
Additional Disclosure on U.S. Treasury Securities		Face Value						Face Value
	US Treasury Note 6.000% due 02/15/2026 (2)		$27,568,106						$1,406,374
	US Treasury Note 6.875% due 08/15/2025 (2)		7,351,495						375,033
		$	34,919,601					$	1,781,407
Additional Disclosure on U.S. Treasury Securities		Cost						Cost
	US Treasury Note 6.000% due 02/15/2026 (2)		$41,588,353						$2,121,610
	US Treasury Note 6.875% due 08/15/2025 (2)		10,296,688						525,281
		$	51,885,041					$	2,646,891

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

8

The Series of Equinox Frontier Funds

Consolidated Schedule of Investments (Unaudited)

June 30, 2015

		Equinox Frontier Winton Fund					Equinox Frontier Heritage Fund
Description		Fair Value		% of Total Capital (Net Asset Value)			Fair Value		% of Total Capital (Net Asset Value)
SWAPS (1)
	Frontier Brevan Howard swap (U.S.)		$—		0.00%			$7,809,251		49.16%
	Total Swaps		$—		0.00%			$7,809,251		49.16%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Fair Value					Fair Value
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,934,764)	$	19,997,657		54.36	%	$	4,454,549		28.04	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,012,500)		5,619,821		15.28	%		1,251,835		7.88	%
		$	25,617,478		69.64	%	$	5,706,384		35.92	%
Additional Disclosure on U.S. Treasury Securities		Face Value					Face Value
	US Treasury Note 6.000% due 02/15/2026 (2)	$	14,914,929				$	3,322,354
	US Treasury Note 6.875% due 08/15/2025 (2)		3,977,314					885,961
		$	18,892,243				$	4,208,315
Additional Disclosure on U.S. Treasury Securities		Cost					Cost
	US Treasury Note 6.000% due 02/15/2026 (2)	$	22,500,180				$	5,011,996
	US Treasury Note 6.875% due 08/15/2025 (2)		5,570,726					1,240,899
		$	28,070,906				$	6,252,895

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

9

The Series of Equinox Frontier Funds

Condensed Schedule of Investments

December 31, 2014

		Equinox Frontier Diversified Fund						Equinox Frontier Masters Fund					Equinox Frontier Long/Short Commodity Fund
Description		Value			% of Total Capital (Net Asset Value)			Value		% of Total Capital (Net Asset Value)			Value		% of Total Capital (Net Asset Value)
LONG FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	(312,320	)		-0.43	%	$	—		0.00	%	$	—		0.00	%
	Various base metals futures contracts (U.S.)		(48,075	)		-0.07	%		—		0.00	%		—		0.00	%
	Various currency futures contracts (U.S.)		560,666			0.77	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (Europe)		—			0.00	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		10,206			0.01	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Canada)		79,701			0.11	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Europe)		676,493			0.93	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Far East)		208,691			0.29	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		299,804			0.41	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		289,361			0.40	%		—		0.00	%		—		0.00	%
	Various precious metal futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various precious metal futures contracts (U.S.)		(60,655	)		-0.08	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Canada)		—			0.00	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		2,809			0.00	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Oceanic)		—			0.00	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		(89,038	)		-0.12	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Canada)		33,439			0.08	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Europe)		(44,720	)		-0.06	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Far East)		14,786			0.02	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Oceanic)		35,072			0.08	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		370,308			0.51	%		—		0.00	%		—		0.00	%
	Total Long Futures Contracts	$	2,026,528			2.85	%	$	—		0.00	%	$	—		0.00	%
SHORT FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	251,789			0.35	%	$	—		0.00	%	$	—		0.00	%
	Various base metals futures contracts (U.S.)		50,963			0.07	%		—		0.00	%		—		0.00	%
	Various currency futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various currency futures contracts (U.S.)		360,124			0.50	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (Europe)		—			0.00	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		356,351			0.49	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Canada)		12,112			0.02	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Europe)		(14,958	)		-0.02	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		—			0.00	%		—		0.00	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		(128	)		0.00	%		—		0.00	%		—		0.00	%
	Various precious metal futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various precious metal futures contracts (U.S.)		7,685			0.01	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Canada)		—			0.00	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		92,535			0.13	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (Far East)		—			0.00	%		—		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		78,930			0.11	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Africa)		—			0.00	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Europe)		(24,501	)		-0.03	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Far East)		(28,299	)		-0.04	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Mexico)		—			0.00	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (Oceanic)		—			0.00	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		2,837			0.00	%		—		0.00	%		—		0.00	%
	Total Short Futures Contracts	$	1,145,440			1.59	%	$	—		0.00	%	$	—		0.00	%
CURRENCY FORWARDS *
	Various currency forwards contracts (NA)	$	43,238			0.06	%	$	—		0.00	%	$	—		0.00	%
	Total Currency Forwards	$	43,238			0.06	%	$	—		0.00	%	$	—		0.00	%
	Total Open Trade Equity (Deficit)	$	3,215,206			4.50	%	$	—		0.00	%	$	—		0.00	%
OPTIONS PURCHASED *
	Various energy futures contracts (U.S.)	$	—			0.00	%	$	—		0.00	%	$	—		0.00	%
	Various soft futures contracts (U.S.)		—			0.00	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		288,413			0.40	%		—		0.00	%		—		0.00	%
	Total Options Purchased	$	288,413			0.40	%	$	—		0.00	%	$	—		0.00	%
OPTIONS WRITTEN *
	Various energy futures contracts (U.S.)	$	—			0.00	%	$	—		0.00	%	$	—		0.00	%
	Various soft futures contracts (U.S.)		—			0.00	%		—		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		(253,018	)		-0.35	%		—		0.00	%		—		0.00	%
	Total Options Written	$	(253,018	)		-0.35	%	$	—		0.00	%	$	—		0.00	%
SWAPS (1)
	Frontier XXXV Diversified select swap (U.S.)	$	6,570,408			9.07	%		—		0.00	%	$	—		0.00	%
	Frontier XXXVII L/S select swap (U.S.)		—			0.00	%		—		0.00	%		3,633,060		21.86	%
	Total Swaps	$	6,570,408			9.07	%	$	—		0.00	%	$	3,633,060		21.86	%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Fair Value						Fair Value					Fair Value
$15,000,000	US Treasury Note 2.250% due 11/15/2024 (Cost $14,966,695)	$	21,289,585			29.40	%	$	11,118,790		43.25	%	$	5,616,255		33.80	%
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,579,227)		6,411,385			8.85	%		3,348,438		13.02	%		1,691,342		10.18	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,322,622)		3,350,689			4.63	%		1,749,945		6.81	%		883,922		5.32	%
		$	31,051,659			42.88	%	$	16,217,173		63.08	%	$	8,191,519		49.30	%
Additional Disclosure on U.S. Treasury Securities		Face Value						Face Value					Face Value
	US Treasury Note 2.250% due 11/15/2024 (2)	$	16,640,343					$	8,690,657				$	4,389,772
	US Treasury Note 6.000% due 02/15/2026 (2)		4,437,425						2,317,508					1,170,606
	US Treasury Note 6.875% due 08/15/2025 (2)		3,328,068						1,738,131					877,954
		$	24,405,836					$	12,746,296				$	6,438,332
Additional Disclosure on U.S. Treasury Securities		Cost						Cost					Cost
	US Treasury Note 2.250% due 11/15/2024 (2)	$	22,093,766					$	11,538,785				$	5,828,400
	US Treasury Note 6.000% due 02/15/2026 (2)		6,283,975						3,281,896					1,657,731
	US Treasury Note 6.875% due 08/15/2025 (2)		3,320,679						1,734,272					876,005
		$	31,698,420					$	16,554,953				$	8,362,136

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

10

The Series of Equinox Frontier Funds

Condensed Schedule of Investments

December 31, 2014

		Equinox Frontier Balanced Fund						Equinox Frontier Select Fund
					% of Total Capital					% of Total Capital
Description		Value			(Net Asset Value)			Value		(Net Asset Value)
LONG FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	(3,493,625	)		-3.22	%	$	—		0.00	%
	Various base metals futures contracts (U.S.)		(13,775	)		-0.01	%		—		0.00	%
	Various currency futures contracts (U.S.)		(254,409	)		-0.23	%		—		0.00	%
	Various energy futures contracts (Europe)		(12,920	)		-0.01	%		—		0.00	%
	Various energy futures contracts (Far East)		(2,738	)		0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		(1,406,837	)		-1.30	%		—		0.00	%
	Various interest rates futures contracts (Canada)		84,291			0.08	%		—		0.00	%
	Various interest rates futures contracts (Europe)		1,312,057			1.21	%		—		0.00	%
	Various interest rates futures contracts (Far East)		217,701			0.20	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		164,422			0.15	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		298,985			0.28	%		—		0.00	%
	Various precious metal futures contracts (Far East)		6,195			0.01	%		—		0.00	%
	Various precious metal futures contracts (U.S.)		(57,380	)		-0.05	%		—		0.00	%
	Various soft futures contracts (Canada)		(1,360	)		0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		8,013			0.01	%		—		0.00	%
	Various soft futures contracts (Oceanic)		(864	)		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		(208,634	)		-0.19	%		—		0.00	%
	Various stock index futures contracts (Canada)		17,918			0.02	%		—		0.00	%
	Various stock index futures contracts (Europe)		231,293			0.21	%		—		0.00	%
	Various stock index futures contracts (Far East)		(6,494	)		-0.01	%		—		0.00	%
	Various stock index futures contracts (Oceanic)		(1,389	)		0.00	%		—		0.00	%
	Various stock index futures contracts (U.S.)		337,695			0.31	%		—		0.00	%
	Total Long Futures Contracts	$	(2,781,855	)		-2.54	%	$	—		0.00	%
SHORT FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	3,165,035			2.92	%	$	—		0.00	%
	Various base metals futures contracts (U.S.)		19,963			0.02	%		—		0.00	%
	Various currency futures contracts (Far East)		(3,383	)		0.00	%		—		0.00	%
	Various currency futures contracts (U.S.)		462,616			0.43	%		—		0.00	%
	Various energy futures contracts (Europe)		49,517			0.05	%		—		0.00	%
	Various energy futures contracts (Far East)		5,389			0.00	%		—		0.00	%
	Various energy futures contracts (U.S.)		2,602,685			2.40	%		—		0.00	%
	Various interest rates futures contracts (Canada)		11			0.00	%		—		0.00	%
	Various interest rates futures contracts (Europe)		(261,457	)		-0.24	%		—		0.00	%
	Various interest rates futures contracts (Far East)		—			0.00	%		—		0.00	%
	Various interest rates futures contracts (Oceanic)		(1,673	)		0.00	%		—		0.00	%
	Various interest rates futures contracts (U.S.)		(20,699	)		-0.02	%		—		0.00	%
	Various precious metal futures contracts (Far East)		(1,052	)		0.00	%		—		0.00	%
	Various precious metal futures contracts (U.S.)		112,155			0.10	%		—		0.00	%
	Various soft futures contracts (Canada)		—			0.00	%		—		0.00	%
	Various soft futures contracts (Europe)		19,813			0.02	%		—		0.00	%
	Various soft futures contracts (Far East)		(4,709	)		0.00	%		—		0.00	%
	Various soft futures contracts (U.S.)		438,427			0.40	%		—		0.00	%
	Various stock index futures contracts (Africa)		(4,181	)		0.00	%		—		0.00	%
	Various stock index futures contracts (Europe)		(13,338	)		-0.01	%		—		0.00	%
	Various stock index futures contracts (Far East)		129			0.00	%		—		0.00	%
	Various stock index futures contracts (Mexico)		(4,380	)		0.00	%		—		0.00	%
	Various stock index futures contracts (Oceanic)		(9,866	)		-0.01	%		—		0.00	%
	Various stock index futures contracts (U.S.)		(51,856	)		-0.05	%		—		0.00	%
	Total Short Futures Contracts	$	6,499,146			6.01	%	$	—		0.00	%
CURRENCY FORWARDS *
	Various currency forwards contracts (NA)	$	(419,742	)		-0.39	%	$	—		0.00	%
	Total Currency Forwards	$	(419,742	)		-0.39	%	$	—		0.00	%
	Total Open Trade Equity (Deficit)	$	3,297,549			3.08	%	$	—		0.00	%
OPTIONS PURCHASED *
	Frontier XXXIV Balanced Select Swap (U.S.)	$	18,246,954			16.82	%	$	—		0.00	%
	Total Swaps	$	18,246,954			16.82	%	$	—		0.00	%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Value						Value
$15,000,000	US Treasury Note 2.250% due 11/15/2024 (Cost $14,966,695)	$	28,539,451			26.31	%	$	4,440,708		29.08	%
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,579,227)		8,594,691			7.92	%		1,337,325		8.76	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,322,622)		4,491,718			4.14	%		698,906		4.58	%
		$	41,625,860			38.37	%	$	6,476,939		42.42	%
Additional Disclosure on U.S. Treasury Securities		Face Value						Face Value
	US Treasury Note 2.250% due 11/15/2024 (2)	$	22,306,974					$	3,470,942
	US Treasury Note 6.000% due 02/15/2026 (2)		5,948,526						925,584
	US Treasury Note 6.875% due 08/15/2025 (2)		4,461,395						694,188
		$	32,716,895					$	5,090,714
Additional Disclosure on U.S. Treasury Securities		Cost						Cost
	US Treasury Note 2.250% due 11/15/2024 (2)	$	29,617,482					$	4,608,448
	US Treasury Note 6.000% due 02/15/2026 (2)		8,423,893						1,310,749
	US Treasury Note 6.875% due 08/15/2025 (2)		4,451,489						692,647
		$	42,492,864					$	6,611,844

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

11

The Series of Equinox Frontier Funds

Condensed Schedule of Investments

December 31, 2014

		Equinox Frontier Winton Fund					Equinox Frontier Heritage Fund
				% of Total Capital					% of Total Capital
Description		Value		(Net Asset Value)			Value		(Net Asset Value)
	Swaps (1)
	Brevan Howard Total Return Swap	$	—		0.00	%	$	7,540,465		45.52	%
	Total Swaps	$	—		0.00	%	$	7,540,465		45.52	%
U.S. TREASURY SECURITIES (2)
FACE VALUE		Fair Value					Fair Value
$15,000,000	US Treasury Note 2.250% due 11/15/2024 (Cost $14,966,695)	$	20,290,169		50.66	%	$	4,659,730		28.13	%
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,579,227)		6,110,410		15.26	%		1,403,284		8.47	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,322,622)		3,193,395		7.97	%		733,378		4.43	%
		$	29,593,974		73.89	%	$	6,796,392		41.03	%
Additional Disclosure on U.S. Treasury Securities		Face Value					Face Value
	US Treasury Note 2.250% due 11/15/2024 (2)	$	15,859,181				$	3,642,134
	US Treasury Note 6.000% due 02/15/2026 (2)		4,229,115					971,236
	US Treasury Note 6.875% due 08/15/2025 (2)		3,171,836					728,427
		$	23,260,132				$	5,341,797
Additional Disclosure on U.S. Treasury Securities		Cost					Cost
	US Treasury Note 2.250% due 11/15/2024 (2)	$	21,056,599				$	4,835,746
	US Treasury Note 6.000% due 02/15/2026 (2)		5,988,981					1,375,397
	US Treasury Note 6.875% due 08/15/2025 (2)		3,164,794					726,809
		$	30,210,374				$	6,937,952

(1) See Note 4 to the Financial Statements.

(2) Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

The accompanying notes are an integral part of these financial statements.

12

The Series of Equinox Frontier Funds

Statements of Operations

For the Three Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Diversified Fund						Equinox Frontier Masters Fund						Equinox Frontier Long/Short Commodity Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	155,143		$	135,499		$	68,655		$	71,429		$	43,133		$	47,605
Total Income		155,143			135,499			68,655			71,429			43,133			47,605
Expenses:
Incentive Fees		4,000			954,829			41,072			168,094			40,149			—
Management Fees		243,004			271,073			182,496			230,233			131,237			223,050
Service Fees - Class 1		108,250			125,184			60,813			76,310			29,629			30,304
Trading Fees		351,096			307,242			147,701			147,195			65,150			64,027
Total Expenses		706,350			1,658,328			432,082			621,832			266,165			317,381
Investment (loss) - net		(551,207	)		(1,522,829	)		(363,427	)		(550,403	)		(223,032	)		(269,776	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		480,498			—			—			—			—			(144,365	)
Net change in open trade equity/(deficit)		(3,084,315	)		—			—			—			—			1,767,132
Net realized gain/(loss) on swap contracts		—			—			—			—			—			—
Net unrealized gain/(loss) on swap contracts		(1,943,955	)		188,167			—			—			(997,763	)		186,322
Net realized gain/(loss) on U.S. Treasury securities		133,349			(17,129	)		56,105			(9,105	)		33,884			(6,059	)
Net unrealized gain/(loss) on U.S. Treasury securities		(1,267,982	)		535,347			(572,666	)		284,576			(345,884	)		192,801
Trading commissions		(182,250	)		—			—			—			—			(8,038	)
Change in fair value of investments in unconsolidated trading companies		(1,411,843	)		3,363,720			(2,913,886	)		1,844,351			(512,304	)		(466,714	)
Net gain/(loss) on investments		(7,276,498	)		4,070,105			(3,430,447	)		2,119,822			(1,822,067	)		1,521,079
NET INCREASE/(DECREASE) IN CAPITAL
RESULTING FROM OPERATIONS		(7,827,705	)		2,547,276			(3,793,874	)		1,569,419			(2,045,099	)		1,251,303
Less: Operations attributable to non-controlling interests		(322,342	)		—			—			—			—			1,139,624
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM
OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	(7,505,363	)	$	2,547,276		$	(3,793,874	)	$	1,569,419		$	(2,045,099	)	$	111,679
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS
ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	(16.11	)	$	4.00		$	(18.37	)	$	5.67			N/A			N/A
Class 1a		N/A			N/A			N/A			N/A		$	(13.53	)	$	0.34
Class 2	$	(17.27	)	$	4.76		$	(19.80	)	$	6.61		$	(18.04	)	$	0.69
Class 2a		N/A			N/A			N/A			N/A		$	(14.46	)	$	0.76
Class 3	$	(15.87	)	$	4.45		$	(18.28	)	$	6.17		$	(17.86	)	$	0.69
Class 3a		N/A			N/A			N/A			N/A		$	(14.45	)	$	0.82

The accompanying notes are an integral part of these financial statements.

13

The Series of Equinox Frontier Funds

Statements of Operations

For the Three Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Balanced Fund						Equinox Frontier Select Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	8,003		$	6,543		$	—		$	—
Total Income/(loss)		8,003			6,543			—			—
Expenses:
Incentive Fees		9,517			902,054			—			26,677
Management Fees		267,377			264,152			78,206			140,286
Service Fees - Class 1		556,081			492,255			101,967			97,799
Trading Fees		194,144			167,758			28,454			27,150
Total Expenses		1,027,119			1,826,219			208,627			291,912
Investment (loss) - net		(1,019,116	)		(1,819,676	)		(208,627	)		(291,912	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		(2,682,859	)		4,111,434			(2,163,972	)		—
Net change in open trade equity/(deficit)		(1,047,941	)		623,763			(902,659	)		—
Net realized gain/(loss) on swap contracts		—			—			—			—
Net unrealized gain/(loss) on swap contracts		(4,981,998	)		856,058			—			—
Net realized gain/(loss) on U.S. Treasury securities		215,325			(31,461	)		12,618			(4,607	)
Net unrealized gain/(loss) on U.S. Treasury securities		(2,126,900	)		967,127			(126,672	)		138,584
Trading commissions		(124,528	)		(345,203	)		(33,722	)		—
Change in fair value of investments in unconsolidated trading companies		(854,236	)		197,789			(856,713	)		768,926
Net gain/(loss) on investments		(11,603,137	)		6,379,507			(4,071,120	)		902,903
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS		(12,622,253	)		4,559,831			(4,279,747	)		610,991
Less: Operations attributable to non-controlling interests		(473,996	)		2,854,321			(1,366,570	)		—
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	(12,148,257	)	$	1,705,510		$	(2,913,177	)	$	610,991
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	(16.98	)	$	1.87		$	(18.85	)	$	3.22
Class 1AP	$	(16.31	)		N/A		$	(18.57	)		N/A
Class 2	$	(21.93	)	$	3.54		$	(24.64	)	$	5.01
Class 2a	$	(18.40	)	$	3.30			N/A			N/A
Class 3a	$	(18.34	)	$	3.29			N/A			N/A

The accompanying notes are an integral part of these financial statements.

14

The Series of Equinox Frontier Funds

Statements of Operations

For the Three Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	27		$	—		$	—		$	—
Total Income		27			—			—			—
Expenses:
Incentive Fees		—			415,629			—			86,999
Management Fees		307,212			287,648			70,986			81,966
Service Fees - Class 1		198,125			177,981			74,974			65,875
Trading Fees		74,984			64,049			25,063			21,279
Total Expenses		580,321			945,307			171,023			256,119
Investment (loss) - net		(580,294	)		(945,307	)		(171,023	)		(256,119	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		—			—			—			—
Net change in open trade equity/(deficit)		—			—			—			—
Net realized gain/(loss) on swap contracts		—			—			—			—
Net unrealized gain/(loss) on swap contracts		—			—			(1,791,079	)		745,910
Net realized gain/(loss) on U.S. Treasury securities		111,546			(14,220	)		25,632			(4,016	)
Net unrealized gain/(loss) on U.S. Treasury securities		(1,170,077	)		457,602			(265,944	)		122,590
Trading commissions		—			—			—			(3,500	)
Change in fair value of investments in unconsolidated trading companies		(4,061,244	)		2,553,073			(739,054	)		557,360
Net gain/(loss) on investments		(5,119,775	)		2,996,455			(2,770,445	)		1,418,344
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS		(5,700,069	)		2,051,148			(2,941,468	)		1,162,225
Less: Operations attributable to non-controlling interests		—			—			(839,599	)		329,960
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	(5,700,069	)	$	2,051,148		$	(2,101,869	)	$	832,265
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	(26.05	)	$	8.14		$	(21.77	)	$	7.02
Class 1AP	$	(25.31	)		N/A		$	(21.25	)		N/A
Class 2	$	(32.13	)	$	11.59		$	(28.44	)	$	10.31

The accompanying notes are an integral part of these financial statements.

15

The Series of Equinox Frontier Funds

Statements of Operations

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Diversified Fund						Equinox Frontier Masters Fund						Equinox Frontier Long/Short Commodity Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	324,401		$	300,377		$	139,819		$	166,701		$	90,191		$	116,852
Total Income		324,401			300,377			139,819			166,701			90,191			116,852
Expenses:
Incentive Fees		1,638,242			1,386,913			576,374			181,806			279,366			—
Management Fees		489,308			547,629			361,156			507,313			254,273			509,680
Service Fees - Class 1		230,168			273,595			125,991			180,593			61,529			68,868
Trading Fees		721,898			649,807			301,334			323,110			134,078			146,001
Total Expenses		3,079,616			2,857,944			1,364,855			1,192,822			729,246			724,549
Investment (loss) - net		(2,755,215	)		(2,557,567	)		(1,225,036	)		(1,026,121	)		(639,055	)		(607,697	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		8,881,667			325,885			—			—			—			(2,580,860	)
Net change in open trade equity/(deficit)		(3,212,206	)		(83,337	)		—			—			—			961,346
Net realized gain/(loss) on swap contracts		—			—			—			—			—			—
Net unrealized gain/(loss) on swap contracts		1,044,760			(391,235	)		—			—			(328,851	)		(238,462	)
Net realized gain/(loss) on U.S. Treasury securities		133,349			(127,713	)		56,105			(71,630	)		33,884			(54,879	)
Net unrealized gain/(loss) on U.S. Treasury securities		(583,896	)		1,883,962			(228,422	)		1,060,897			(217,116	)		774,729
Trading commissions		(366,567	)		(6,386	)		—			—			—			(415,314	)
Change in fair value of investments in unconsolidated trading companies		2,060,866			884,399			181,873			(9,085	)		1,422,221			(1,012,360	)
Net gain/(loss) on investments		7,957,973			2,485,576			9,556			980,182			910,138			(2,565,800	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS		5,202,758			(71,992	)		(1,215,480	)		(45,939	)		271,083			(3,173,497	)
Less: Operations attributable to non-controlling interests		2,991,055			325,371			—			—			—			(766,822	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	2,211,703		$	(397,362	)	$	(1,215,480	)	$	(45,939	)	$	271,083		$	(2,406,675	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	2.46		$	(0.33	)	$	(6.60	)	$	1.14			N/A			N/A
Class 1a		N/A			N/A			N/A			N/A		$	6.05		$	(9.97	)
Class 2	$	3.82		$	0.46		$	(6.21	)	$	2.11		$	9.86		$	(13.09	)
Class 2a		N/A			N/A			N/A			N/A		$	7.68		$	(10.02	)
Class 3	$	3.67		$	3.16		$	(5.61	) (1)	$	2.06		$	9.86		$	(13.10	)
Class 3a		N/A			N/A			N/A			N/A		$	7.87		$	(9.91	)

(1) Class 3 operations began February 25, 2014.

The accompanying notes are an integral part of these financial statements.

16

The Series of the Equinox Frontier Funds

Statements of Operations

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Balanced Fund						Equinox Frontier Select Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	15,193		$	15,073		$	—		$	—
Total Income/(loss)		15,193			15,073			—			—
Expenses:
Incentive Fees		1,496,474			1,453,340			158,971			26,677
Management Fees		526,972			554,537			158,278			278,724
Service Fees - Class 1		1,118,882			1,041,703			208,868			203,387
Trading Fees		389,488			355,157			58,347			56,552
Total Expenses		3,531,816			3,404,737			584,464			565,340
Investment (loss) - net		(3,516,623	)		(3,389,664	)		(584,464	)		(565,340	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		3,592,820			7,730,596			121,655			—
Net change in open trade equity/(deficit)		(2,413,756	)		(1,535,401	)		(1,606,742	)		—
Net realized gain/(loss) on swap contracts		—			—			—			—
Net unrealized gain/(loss) on swap contracts		244,680			(630,474	)		—			—
Net realized gain/(loss) on U.S. Treasury securities		215,325			(225,870	)		12,618			(34,988	)
Net unrealized gain/(loss) on U.S. Treasury securities		(1,389,049	)		3,414,775			32,740			496,053
Trading commissions		(266,438	)		(631,520	)		(65,896	)		—
Change in fair value of investments in unconsolidated trading companies		4,668,213			(3,884,435	)		175,736			(328,501	)
Net gain/(loss) on investments		4,651,795			4,237,671			(1,329,889	)		132,564
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS		1,135,172			848,007			(1,914,353	)		(432,776	)
Less: Operations attributable to non-controlling interests		356,146			3,307,859			(684,237	)		—
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	779,026		$	(2,459,852	)	$	(1,230,116	)	$	(432,776	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	0.28		$	(2.43	)	$	(8.30	)	$	(1.63	)
Class 1AP (1)	$	2.29			N/A		$	(7.08	)		N/A
Class 2	$	3.08		$	(1.14	)	$	(9.39	)	$	(0.58	)
Class 2a	$	3.34		$	(0.32	)		N/A			N/A
Class 3a	$	3.33		$	(0.32	)		N/A			N/A

(1) Class 1AP began trading July 31, 2014

The accompanying notes are an integral part of these financial statements.

17

The Series of the Equinox Frontier Funds

Statements of Operations

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Investment income:
Interest - net	$	27		$	41		$	—		$	—
Total Income		27			41			—			—
Expenses:
Incentive Fees		715,409			415,629			132,676			86,999
Management Fees		630,317			568,021			148,884			161,975
Service Fees - Class 1		403,462			360,945			151,991			138,600
Trading Fees		151,960			128,644			50,754			44,378
Total Expenses		1,901,148			1,473,239			484,305			431,952
Investment (loss) - net		(1,901,121	)		(1,473,198	)		(484,305	)		(431,952	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		—			—			—			—
Net change in open trade equity/(deficit)		—			—			—			—
Net realized gain/(loss) on swap contracts		—			—			—			—
Net unrealized gain/(loss) on swap contracts		—			—			268,786			(462,653	)
Net realized gain/(loss) on U.S. Treasury securities		111,546			(97,349	)		25,632			(28,835	)
Net unrealized gain/(loss) on U.S. Treasury securities		(616,192	)		1,429,792			(139,125	)		422,594
Trading commissions		—			—			—			(3,500	)
Change in fair value of investments in unconsolidated trading companies		381,989			1,560,816			122,347			254,158
Net gain/(loss) on investments		(122,657	)		2,893,259			277,640			181,764
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS		(2,023,778	)		1,420,061			(206,665	)		(250,188	)
Less: Operations attributable to non-controlling interests		—			—			127,516			(208,034	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	(2,023,778	)	$	1,420,061		$	(334,181	)	$	(42,154	)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
Class 1	$	(10.10	)	$	5.48		$	(4.18	)	$	0.53
Class 1AP (1)	$	(7.72	)		N/A		$	(2.32	)		N/A
Class 2	$	(9.80	)	$	9.55		$	(3.11	)	$	2.72

(1) Class 1AP began trading July 31, 2014

The accompanying notes are an integral part of these financial statements.

18

The Series of Equinox Frontier Funds

Statements of Changes in Owners’ Capital

For the Six Months Ended June 30, 2015

(Unaudited)

	Equinox Frontier Diversified Fund																			Equinox Frontier Masters Fund
	Class 1			Class 2		Class 2			Class 3		Class 3									Class 1			Class 2			Class 2			Class 3			Class 3
	Limited Owners			Managing Owner		Limited Owners			Managing Owner		Limited Owners			Non-Controlling Interests			Total			Limited Owners			Managing Owner			Limited Owners			Managing Owner			Limited Owners			Non-Controlling Interests		Total
Owners’ Capital, December 31, 2014	$	19,195,036		$	2,516,879	$	32,707,413		$	31,632	$	5,556,649		$	12,417,767		$	72,425,376		$	11,850,911		$	723,207		$	8,145,536		$	32,741		$	4,955,459		$	—	$	25,707,854
Sale of Units		1,270,579			—		1,189,861			—		3,413,792			—			5,874,232			989,895			—			10,000			—			2,498,048			—		3,497,943
Redemption of Units		(5,313,927	)		—		(6,218,435	)		—		(1,578,475	)		—			(13,110,837	)		(3,183,426	)		—			(483,171	)		—			(1,625,851	)		—		(5,292,448	)
Change in control of ownership - Trading Companies		—			—		—			—		—			(8,316,485	)		(8,316,485	)		—			—			—			—			—			—		—
Operations attributable to non-controlling interests		—			—		—			—		—			2,991,055			2,991,055			—			—			—			—			—			—		—
Payment made by the Managing Owner		47,134			—		82,416			—		14,799			—			144,349			—			—			—			—			—			—		—
Net increase/(decrease) in Owners’
Capital resulting from operations		741,938			77,149		1,363,404			1,010		28,202			—			2,211,703			(579,660	)		(34,938	)		(355,854	)		(1,543	)		(243,485	)		—		(1,215,480	)
Owners’ Capital, June 30, 2015	$	15,940,760		$	2,594,028	$	29,124,659		$	32,642	$	7,434,967		$	7,092,337		$	62,219,393		$	9,077,720		$	688,269		$	7,316,511		$	31,198		$	5,584,171		$	—	$	22,697,869
Owners’ Capital - Units, December 31, 2014		169,725			14,576		267,958			275		48,308									101,632			5,627			63,376			275			41,622
Sale of Units		10,551			—		8,618			—		26,878									7,886			—			77			—			20,733
Redemption of Units		(42,325	)		—		(44,302	)		—		(12,549	)								(27,004	)		—			(3,637	)		—			(13,133	)
Owners’ Capital - Units, June 30, 2015		137,951			14,576		232,274			275		62,637									82,514			5,627			59,816			275			49,222
								(1)					(1)															(1)						(1)
Net asset value per unit at December 31, 2014	$	113.09				$	124.67				$	115.03								$	116.61					$	128.53					$	119.06
Change in net asset value per unit for the six months ended June 30, 2015		2.46					3.82					3.67									(6.60	)					(6.21	)					(5.61	)
Net asset value per unit at June 30, 2015	$	115.55				$	128.49				$	118.70								$	110.01					$	122.32					$	113.45

(1) Values are for both the Managing Owner and Limited Owners.

The accompanying notes are an integral part of these financial statements.

19

The Series of Equinox Frontier Funds

Statements of Changes in Owners’ Capital

For the Six Months Ended June 30, 2015

(Unaudited)

	Equinox Frontier Long/Short Commodity Fund
	Class 2					Class 3			Class 1a			Class 2a					Class 3a
	Managing Owner		Limited Owners			Limited Owners			Limited Owners			Managing Owner		Limited Owners			Managing Owner		Limited Owners			Total
Owners’ Capital, December 31, 2014	$	426,377	$	820,104		$	7,233,099		$	5,776,906		$	247,434	$	1,455,117		$	12,228	$	645,654		$	16,616,919
Sale of Units		—		—			—			23,000			—		5,000			—		120,785			148,785
Redemption of Units		—		(181,144	)		(454,734	)		(874,536	)		—		(281,680	)		—		(90,453	)		(1,882,547	)
Payment made by the Managing Owner		—		69,364			397,940			312,393			—		90,860			—		36,605			907,162
Net increase/(decrease) in Owners’																							—
Capital resulting from operations attributable to controlling interests		30,397		(3,100	)		133,026			68,951			17,085		15,092			860		8,772			271,083
Owners’ Capital, June 30, 2015	$	456,774	$	705,224		$	7,309,331		$	5,306,714		$	264,519	$	1,284,389		$	13,088	$	721,363		$	16,061,402
Owners’ Capital - Units, December 31, 2014		3,083		5,930			52,285			57,130			2,222		13,069			109		5,777
Sale of Units		—		—			—			211			—		40			—		969
Redemption of Units		—		(1,170	)		(2,965	)		(7,823	)		—		(2,318	)		—		(716	)
Owners’ Capital - Units, June 30, 2015		3,083		4,760			49,320			49,518			2,222		10,791			109		6,030
					(1)											(1)					(1)
Net asset value per unit at December 31, 2014			$	138.30		$	138.34		$	101.12				$	111.35				$	111.77
Change in net asset value per unit for the six months ended June 30, 2015				9.86			9.86			6.05					7.68					7.87
Net asset value per unit at June 30, 2015			$	148.16		$	148.20		$	107.17				$	119.03				$	119.64

(1) Values are for both the Managing Owner and Limited Owners.

The accompanying notes are an integral part of these financial statements.

20

The Series of Equinox Frontier Funds

Statements of Changes in Owners’ Capital

For the Six Months Ended June 30, 2015

(Unaudited)

	Equinox Frontier Balanced Fund
	Class 1			Class 1AP			Class 2					Class 2a					Class 3a
	Limited Owners			Limited Owners			Managing Owner		Limited Owners			Managing Owner		Limited Owners			Limited Owners			Non-Controlling Interests			Total
Owners’ Capital, December 31, 2014	$	72,098,275		$	748,275		$	1,425,355	$	22,125,342		$	189,344	$	410,943		$	2,528,303		$	8,944,274		$	108,470,111
Sale of Units		117,365			1,457			—		9,409			—		—			—			—			128,231
Redemption of Units		(4,065,683	)		(39,001	)		—		(524,931	)		—		(60,850	)		(52,948	)		—			(4,743,413	)
Change in control of ownership - Trading Companies		—			—			—		—			—		—			—			(8,126,145	)		(8,126,145	)
Contributions		—			—			—		—			—		—			—			—			—
Distributions		—			—			—		—			—		—			—			—			—
Payment made by the Managing Owner		115,486			1,222			—		38,375			—		885			4,131			—			160,099
Operations attributable to non-controlling interests		—			—			—		—			—		—			—			356,146			356,146
Net increase/(decrease) in Owners’
Capital resulting from operations attributable to controlling interests		297,028			12,923			24,447		376,969			4,132		8,852			54,675			—			779,026
Owners’ Capital, June 30, 2015	$	68,562,471		$	724,876		$	1,449,802	$	22,025,164		$	193,476	$	359,830		$	2,534,161		$	1,174,275		$	97,024,055
Owners’ Capital - Units, December 31, 2014		548,117			5,618			7,956		123,491			1,237		2,686			16,577
Sale of Units		830			10			—		48			—		—			—
Redemption of Units		(28,818	)		(277	)		—		(2,680	)		—		(384	)		(316	)
Owners’ Capital - Units, June 30, 2015		520,129			5,351			7,956		120,859			1,237		2,302			16,261
										(1	)				(1	)
Net asset value per unit at December 31, 2014	$	131.54		$	133.20				$	179.16				$	153.02		$	152.52
Change in net asset value per unit for the six months ending June 30, 2015		0.28			2.29					3.08					3.34			3.33
Net asset value per unit at June 30, 2015	$	131.82		$	135.49				$	182.24				$	156.36		$	155.85

(1) Values are for both the Managing Owner and Limited Owners.

The accompanying notes are an integral part of these financial statements.

21

The Series of Equinox Frontier Funds

Statements of Changes in Owners’ Capital

For the Six Months Ending June 30, 2015

(Unaudited)

	Equinox Frontier Select Fund																		Equinox Frontier Winton Fund															Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2						Non- Controlling Interests						Class 1			Class 1AP			Class 2									Class 1			Class 1AP			Class 2						Non- Controlling Interests
	Limited Owners			Limited Owners			Managing Owner			Limited Owners						Total			Limited Owners			Limited Owners			Managing Owner			Limited Owners			Total			Limited Owners			Limited Owners			Managing Owner			Limited Owners						Total
Owners’ Capital, December 31, 2014	$	13,663,563		$	47,785		$	9,052		$	1,549,078		$	—		$	15,269,478		$	26,870,878		$	38,042		$	46,764		$	13,095,549		$	40,051,233		$	9,761,819		$	58,378		$	75,621		$	3,131,561		$	3,539,498		$	16,566,877
Sale of Units		10,068			930			—			—			—			10,998			93,346			—			—			—			93,346			21,905			1,288			—			—			—			23,193
Redemption of Units		(545,555	)		—			—			(152,448	)		—			(698,003	)		(1,185,987	)		—			—			(148,360	)		(1,334,347	)		(356,862	)		—			—			(112,648	)		—			(469,510	)
Change in control of ownership - Trading Companies		—			—			—			—			6,595,623			6,595,623			—			—			—			—			—			—			—			—			—			(27,363	)		(27,363	)
Operations attributable to non-controlling interests		—			—			—			—			(684,237	)		(684,237	)		—			—			—			—			—			—			—			—			—			127,516			127,516
Net increase/(decrease) in Owners’
Capital resulting from operations attributable to controlling interests		(1,127,421	)		(3,631	)		(663	)		(98,401	)		—			(1,230,116	)		(1,458,333	)		(1,647	)		(2,025	)		(561,773	)		(2,023,778	)		(285,834	)		(1,172	)		(1,330	)		(45,845	)		—			(334,181	)
Owners’ Capital, June 30, 2015	$	12,000,655		$	45,084		$	8,389		$	1,298,229		$	5,911,386		$	19,263,743		$	24,319,904		$	36,395		$	44,739		$	12,385,416		$	36,786,454		$	9,141,028		$	58,494		$	74,291		$	2,973,068		$	3,639,651		$	15,886,532
Owners’ Capital - Units, December 31, 2014		142,913			494			70			12,058									152,717			214			207			57,886						74,927			443			428			17,736
Sale of Units		101			9			—			—									515			—			—			—						158			9			—			—
Redemption of Units		(5,564	)		—			—			(1,155	)								(6,591	)		—			—			(661	)					(2,596	)		—			—			(596	)
Owners’ Capital - Units, June 30, 2015		137,450			503			70			10,903									146,641			214			207			57,225						72,489			452			428			17,140
												(1)																		(1)															(1)
Net asset value per unit at December 31, 2014	$	95.61		$	96.82					$	128.48								$	175.95		$	178.18					$	226.23					$	130.28		$	131.93					$	176.56
Change in net asset value per unit for the six months ended June 30, 2015		(8.30	)		(7.08	)					(9.39	)								(10.10	)		(7.72	)					(9.80	)					(4.18	)		(2.32	)					(3.11	)
Net asset value per unit at June 30, 2015	$	87.31		$	89.74					$	119.09								$	165.85		$	170.46					$	216.43					$	126.10		$	129.61					$	173.45

(1) Values are for both the Managing Owner and Limited Owners.

The accompanying notes are an integral part of these financial statements.

22

The Series of Equinox Frontier Funds

Statements of Cash Flows

For the Six Months Ended June 30, 2015

(Unaudited)

	Equinox Frontier Diversified Fund						Equinox Frontier Masters Fund						Equinox Frontier Long/Short Commodity Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014			6/30/2015			6/30/2014
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	$	2,211,703		$	(71,992	)	$	(1,215,480	)	$	(45,939	)	$	271,083		$	(3,173,497	)
Adjustments to reconcile net increase/(decrease) in capital resulting from operations to net cash provided by (used in) operating activities:
Change in:
Net change in open trade equity/(deficit), at fair value		3,786,757			—			—			—			—			(191,069	)
Net change in options purchased, at fair value		(86,056	)		—			—			—			—			98,740
Net change in options written, at fair value		(33,358	)		—			—			—			—			(172,650	)
Net change in ownership allocation of U.S. Treasury securities		102,792			(3,148,617	)		3,692,889			3,061,783			947,060			2,706,178
Net realized (gain) on swap contracts		—			—			—			—			—			—
Net unrealized (gain)/loss on swap contracts		(1,044,760	)		391,235			—			—			328,851			238,462
Net unrealized (gain)/loss on U.S. Treasury securities		583,896			(1,883,962	)		228,422			(1,060,897	)		217,117			(774,729	)
Net realized (gain)/loss on U.S. Treasury securities		(133,349	)		127,713			(56,105	)		71,630			(33,884	)		54,879
(Purchases) sales of:
Sales of U.S. Treasury securities		6,214,322			14,517,974			2,729,817			8,028,811			1,713,661			5,971,219
Purchase of U.S. Treasury securities		(4,787,243	)		—			(2,291,604	)		—			(1,395,765	)		—
Purchase of Swap contracts		—			—			—			—			(1,000,000	)		—
Increase and/or decrease in:
Receivable from futures commission merchants		8,060,422			—			—			—			—			7,836,808
Change in control of ownership - trading companies		(5,325,430	)		(325,371	)		—			—			—			(2,462,220	)
Investments in unconsolidated trading companies, at fair value		395,915			3,087,509			(865,542	)		(172,000	)		(82,140	)		(2,457,886	)
Prepaid service fees - Class 1		(14,084	)		(1,665	)		114			9,544			95			2,002
Interest receivable		(21,022	)		32,060			45,052			91,642			10,323			77,778
Receivable from related parties		—			1,035			74			(1,206	)		530			(128	)
Other assets		249,997			—			—			—			—			—
Incentive fees payable to Managing Owner		(2,383,825	)		379,279			(680,972	)		168,094			(118,511	)		—
Management fees payable to Managing Owner		(3,010	)		(15,618	)		(4,185	)		(28,933	)		349			(44,175	)
Interest payable to Managing Owner		(370	)		(4,543	)		(1,160	)		(3,798	)		(97	)		(3,948	)
Trading fees payable to Managing Owner		(8,657	)		(25,282	)		(5,099	)		(21,589	)		(2,810	)		(14,458	)
Service fees payable to Managing Owner		1,745			(11,281	)		(1,808	)		(16,297	)		(1,413	)		(5,090	)
Payables to related parties		1,172			—			—			—			—			—
Other liabilities		—			1,813			—			—			—			—
Net cash provided by (used in) operating activities		7,767,557			13,050,287			1,574,413			10,080,825			854,449			7,686,216
Cash Flows from Financing Activities:
Proceeds from sale of units		5,874,232			2,717,767			3,497,943			2,939,625			148,785			401,977
Payment for redemption of units		(13,110,837	)		(13,973,647	)		(5,292,448	)		(12,287,701	)		(1,882,547	)		(7,567,551	)
Payment made by the Managing Owner		144,349			—			—			—			907,162			—
Pending owner additions		(207	)		(1,463	)		(490	)		(18	)		—			—
Owner redemptions payable		(57,953	)		335,367			—			(3,102	)		(18,782	)		(91,056	)
Net cash provided by (used in) financing activities		(7,150,416	)		(10,921,976	)		(1,794,995	)		(9,351,196	)		(845,382	)		(7,256,630	)
Net increase (decrease) in cash and cash equivalents		617,141			2,128,311			(220,582	)		729,629			9,067			429,586
Cash and cash equivalents, beginning of period		4,210,638			1,827,897			2,199,066			1,125,954			1,110,779			810,418
Cash and cash equivalents, end of period	$	4,827,779		$	3,956,208		$	1,978,484		$	1,855,563		$	1,119,846		$	1,240,004

The accompanying notes are an integral part of these financial statements.

23

The Series of Equinox Frontier Funds

Statements of Cash Flows

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Balanced Fund						Equinox Frontier Select Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	$	779,026		$	848,007		$	(1,230,116	)	$	(432,776	)
Adjustments to reconcile net increase/(decrease) in capital resulting from operations to net cash provided by (used in) operating activities:
Change in:
Net change in open trade equity, at fair value		4,076,512			1,631,455			(55,956	)		—
Net change in options purchased, at fair value		—			165,915			—			—
Net change in options written, at fair value		—			(183,856	)		—			—
Net change in ownership allocation of U.S. Treasury securities		(10,786,387	)		1,384,849			4,418,169			551,952
Net unrealized (gain)/loss on swap contracts		(244,680	)		—			—			—
Net realized (gain)/loss on swap contracts		—			630,474			—			—
Net unrealized (gain)/loss on U.S. Treasury securities		1,389,049			(3,414,775	)		(32,740	)		(496,053	)
Net realized (gain)/loss on U.S. Treasury securities		(215,325	)		225,870			(12,618	)		34,988
(Purchases) sales of:
Sales of U.S. Treasury securities		10,249,014			26,111,089			600,508			3,956,690
Purchases of U.S. Treasury securities		(6,360,723	)		—			(911,929	)		—
Increase and/or decrease in:
Receivable from futures commission merchants		13,267,929			10,787,977			(12,410,448	)		—
Change in control of ownership - trading companies		(7,769,999	)		(8,927,933	)		5,911,386			—
Investments in unconsolidated trading companies, at fair value		4,010,131			(5,848,870	)		4,088,872			(455,524	)
Prepaid service fees - Class 1		—			234			—			—
Interest receivable		(171,799	)		178,389			58,145			33,530
Receivable from other series		—			—			—			—
Receivable from related parties		—			—			—			—
Other assets		250,003			45			—			—
Incentive fees payable to Managing Owner		(1,783,801	)		210,121			(185,791	)		26,677
Management fees payable to Managing Owner		(9,562	)		(24,391	)		(1,770	)		(1,557	)
Interest payable to Managing Owner		16,064			(51,818	)		(6,812	)		(8,194	)
Trading fees payable to Managing Owner		(844	)		(17,116	)		(834	)		(2,307	)
Service fees payable to Managing Owner		(10,950	)		(43,842	)		(2,903	)		(7,625	)
Payables to related parties		4,500			5,004			211			269
Other liabilities		—			—			—			—
Net cash provided by (used in) operating activities		6,688,158			23,666,828			225,374			3,200,070
Cash Flows from Financing Activities:
Proceeds from sale of units		128,231			83,053			10,998			4,943
Payment for redemption of units		(4,743,413	)		(20,064,605	)		(698,003	)		(2,846,634	)
Payment made by the Managing Owner		160,099			—			—			—
Pending owner additions		(560	)		(2,731	)		(74	)		(153	)
Owner redemptions payable		(13,705	)		(821,324	)		(15,432	)		17,098
Net cash provided by (used in) financing activities		(4,469,348	)		(20,805,607	)		(702,511	)		(2,824,746	)
Net increase (decrease) in cash and cash equivalents		2,218,810			2,861,221			(477,137	)		375,324
Cash and cash equivalents, beginning of period		5,644,510			3,292,570			878,280			494,931
Cash and cash equivalents, end of period	$	7,863,320		$	6,153,791		$	401,143		$	870,255

The accompanying notes are an integral part of these financial statements.

24

The Series of Equinox Frontier Funds

Statements of Cash Flows

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	$	(2,023,778	)	$	1,420,061		$	(334,181	)	$	(250,188	)
Adjustments to reconcile net increase/(decrease) in capital resulting from operations to net cash provided by (used in) operating activities:
Change in:
Net change in open trade equity, at fair value		—			—			—			—
Net change in ownership allocation of U.S. Treasury securities		2,175,647			(3,994,960	)		687,650			302,509
Net unrealized (gain)/loss on swap contracts		—			—			(268,786	)		462,653
Net realized (gain)/loss on swap contracts		—			—			—			—
Net unrealized (gain) loss on U.S. Treasury securities, at fair value		616,192			(1,429,792	)		139,126			(422,594	)
Net realized (gain) loss on U.S. Treasury securities, at fair value		(111,546	)		97,349			(25,632	)		28,835
(Purchases) sale of:
Sales of U.S. Treasury Securities		5,740,839			11,348,872			1,293,839			3,316,905
Purchases of U.S. Treasury Securities		(4,444,636	)		—			(1,004,975	)		—
Increase and/or decrease in:
Change in control of ownership of trading companies		—			—			100,153			855
Investments in unconsolidated trading companies, at fair value		730,619			(2,247,207	)		145,343			(480,022	)
Interest receivable		15,769			6,900			6,653			24,563
Receivable from related parties		—			—			—			—
Other assets		—			—			—			—
Incentive fees payable to Managing Owner		(1,178,364	)		315,369			(239,327	)		71,588
Management fees payable to Managing Owner		(12,571	)		(28,976	)		(4,245	)		(384	)
Interest payable to Managing Owner		(2,403	)		(10,769	)		(805	)		(6,906	)
Trading fees payable to Managing Owner		(1,727	)		(2,019	)		(371	)		(1,961	)
Service fees payable to Managing Owner		(6,465	)		(4,913	)		(1,220	)		(6,039	)
Payables to related parties		7,984			5,133			595			1,386
Other liabilities		—			—			—			3,500
Net cash provided by (used in) operating activities		1,505,560			5,475,048			493,817			3,044,700
Cash Flows from Financing Activities:
Proceeds from sale of units		93,346			67,734			23,193			11,982
Payment for redemption of units		(1,334,347	)		(3,788,762	)		(469,510	)		(2,700,710	)
Pending owner additions		(1,408	)		(1,268	)		(47	)		(796	)
Owner redemptions payable		(21,902	)		(76,900	)		(21,408	)		—
Net cash provided by (used in) financing activities		(1,264,311	)		(3,799,196	)		(467,772	)		(2,689,524	)
Net increase (decrease) in cash and cash equivalents		241,249			1,675,852			26,045			355,176
Cash and cash equivalents, beginning of period		4,012,974			1,325,731			921,598			424,001
Cash and cash equivalents, end of period	$	4,254,223		$	3,001,583		$	947,643		$	779,177

The accompanying notes are an integral part of these financial statements.

25

The Series of the Frontier Fund

Notes to Financial Statements (Unaudited)

1. Organization and Purpose

Equinox Frontier Funds, which is referred to in this report as the “Trust”, was formed on August 8, 2003, as a Delaware statutory trust. Please refer to the consolidated financial statements of the Trust included within this periodic report. The Trust is a multi-advisor commodity pool, as described in Commodity Futures Trading Commission (the “CFTC”) Regulation § 4.10(d)(2). The Trust has authority to issue separate series, or each, a Series, of units of beneficial interest (the “Units”) pursuant to the requirements of the Delaware Statutory Trust Act, as amended (the “Trust Act”). The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). It is managed by its managing owner, Equinox Fund Management, LLC (the “Managing Owner”).

Purchasers of Units are limited owners of the Trust (“Limited Owners”) with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as may be amended from time to time (the “Trust Agreement”), unitholders in a Delaware statutory trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of the combined Series of the Trust.

The Trust, in relation to the Series, has been organized to pool assets of investor funds for the purpose of trading in the United States (“U.S.”) and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust, in relation to the Series, may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts (“Swaps”).

The Trust has seven (7) separate and distinct Series of Units issued and outstanding: Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund, and Equinox Frontier Heritage Fund (each a “Series” and collectively, the “Series”). The Trust, with respect to the Series, may issue additional Series of Units.

The Trust, with respect to each Series:

• engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions;

• allocates funds to a limited liability trading company or companies (“Trading Company”). Except as otherwise described in these notes, each Trading Company has one-year renewable contracts with its own independent commodity trading advisor(s), or each, a Trading Advisor, that will manage all or a portion of such Trading Company’s assets and make the trading decisions for the assets of each Series invested in such Trading Company. Each Trading Company will segregate its assets from any other Trading Company;

• maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series;

• calculates the Net Asset Value (“NAV”) of its Units for each Series separately from the other Series;

• has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments;

• maintains each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units.

26

The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 and Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and

• all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund or Equinox Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation set forth in Rule 2310 with respect to such Units has been reached or will be reached. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York.

The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust, with respect to the Series, on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, are maintained in the books and records of each Series.

As of June 30, 2015, the Trust, with respect to the Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Equinox Frontier Balanced Fund and the Equinox Frontier Long/Short Commodity Fund separates Units into a maximum of six separate Classes—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. It is expected that between 10% and 30% of each Series’ assets normally will be invested in one or more Trading Companies to be committed as margin for trading positions, but from time to time these percentages may be substantially more or less. The remainders of each Series’ assets are maintained at the Trust level for cash management. Each of the respective Series has invested monies into pooled cash management assets which have included purchases of U.S. Treasury Securities Each Series’ ownership in these investments is based on its percentage ownership in the pooled cash management assets on the reporting date.

As of June 30, 2015, Equinox Frontier Winton Fund has invested a portion of its assets in a single Trading Company, and a single Trading Advisor manages 100% of the assets invested in such Trading Company. Each of the remaining Series has invested a portion of its assets in several different Trading Companies and one or more Trading Advisors may manage the assets invested in such Trading Companies.

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith.

On November 26, 2014, the Trust’s portfolio management team approved an allocation change in an Emil Van Essen trading program that was not fully implemented as intended. As a result, certain series who invested in Emil Van Essen were not allocated sufficient gains and certain other series who invested in Emil Van Essen suffered greater losses. In January 2015, the Managing Owner determined to make a payment to the affected investors within the Equinox Frontier Balanced Fund, Equinox Frontier Diversified Fund and Equinox Frontier Long/Short Commodity Fund, in the aggregate amount of $1,211,610 to reimburse the effect of the missed gain or higher loss on such investors in the series, and such amount was recorded in the Statements of Changes in Owners’ Capital as Payment Made by the Managing Owner.

2. Significant Accounting Policies

The following are the significant accounting policies of the Series of the Trust.

27

Basis of Presentation—The Series of the Trust follow U.S. Generally Accepted Accounting Principles (“GAAP”), as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

Consolidation—The Series, through investing in the Trading Companies, authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. Trading Companies in which a Series has a controlling and majority equity interest are consolidated by such Series. Investments in Trading Companies in which a Series does not have a controlling and majority interest are accounted for under the equity method, which approximates fair value. Fair value represents the proportionate share of the Series’ interest in the NAV in a Trading Company. The equity interest held by Series of the Trust is shown as investments in unconsolidated trading companies in the statements of financial condition. The income or loss attributable thereto in proportion of investment level is shown in the statements of operations as change in fair value of investments in unconsolidated trading companies.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Balanced Fund included the assets and liabilities of its majority owned Trading Companies. These Trading Companies include Frontier Trading Company XIV, LLC, Frontier Trading Company XXIII, LLC, Frontier Trading Company XXIX, LLC and Frontier Trading Company XXXIV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Balanced Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Long/Short Commodity Fund included the assets and liabilities of its majority owned Trading Company, Frontier Trading Company XXXVII, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Long/Short Commodity Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Diversified Fund included the assets and liabilities of its majority owned Frontier Trading Company I, LLC and, Frontier Trading Company XXXV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Diversified Fund included the earnings of its majority owned Trading Companies listed above.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Heritage Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XXXIX, LLC.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Select Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XV, LLC except for the earnings from January 1, 2015 to January 2, 2015.

Each of the Series has invested in Frontier Trading Company XXXVIII, LLC on the same basis as its ownership in the cash pool. Frontier Trading Company XXXVIII, LLC assets, liabilities and earnings are allocated to all the Series of the Trust based on their proportionate share of the cash pool.

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates, and such differences could be material.

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of six months or less. This cash is not restricted.

Interest Income—Aggregate interest income from all sources, including U.S. Treasuries and assets held at a futures commission merchant (“FCM”), of up to two percentage points of the aggregate percentage yield (annualized) of net asset value less any fair market value related to swaps, is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1, and Class 2 only), Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund and Equinox Frontier Balanced Fund (Class 1a, Class 2a and Class 3a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Series, and shown net on the statement of operations.

28

U.S. Treasury Securities are pooled for purposes of maximizing returns on these assets to investors of all Series. Interest income from pooled cash management assets is recognized on the accrual basis and allocated daily to each Series based upon its daily proportion of ownership of the pool.

U.S. Treasury Securities—U.S. Treasury Securities are allocated to all Series of the Trust based on each Series’ percentage ownership in the pooled cash management assets as of the reporting date. They are reported at fair value as Level 1 inputs under ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Series of the Trust valued U.S. Treasury Securities at fair value and recorded the daily change in value in the statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants—The Series of the Trust deposit assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust, with respect to the Series, earns interest income on its assets deposited with the FCM.

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the statements of financial condition as open trade equity (deficit) as there exists a right of offset of unrealized gains or losses in accordance with ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest is recognized in the period earned and the instruments are marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the statements of operations.

Foreign Currency Transactions—The Series’ functional currency is the U.S. dollar, however, they transact business in currencies other than the U.S. dollar. The Series do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings—Each Series of the Trust may maintain between three or six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a). All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as Swaps that are directly allocated to a specific series). The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Company, or Companies.

Investments and Swaps—The Trust, with respect to the Series, records investment transactions on a trade date basis and at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on

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a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable; and quality control testing procedures in place.

Income Taxes—The Trust, with respect to the Series, applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust, with respect to the Series’, financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust, with respect to the Series. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust, with respect to the Series, is treated as a partnership for federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust, with respect to the Series, are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, selling agent service fees and all other operating expenses and continuing offering costs of the Trust, with respect to the Series.

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents.

These service fees are part of the offering costs of the Trust, with respect to the Series, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial positions or results of operations.

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Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

In February, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). ASU 2015-02 is effective for periods beginning after December 15, 2015. The adoption of ASU 2015-02 is not expected to have a material effect on the Trust’s financial statements. Early adoption is permitted. In May 2014 the FASB issued a final standard on revenue from contracts with customers. The standard, issued as FASB ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The ASU is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. A full retrospective or modified retrospective approach may be taken to adopt the guidance in the ASU. The Trust is currently evaluating the impact of the provisions of ASU 2014-09 on its consolidated financial position, results of operations and related disclosures.

Subsequent Events—The Trust, with respect to the Series, follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued.

3. Fair Value Measurements

In connection with the valuation of investments the Series apply ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements.

Level 1 Inputs

Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs

Inputs other than quoted prices included in Level 1 that are observable for the financial asset or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial asset or inputs that are derived principally from or corroborated by market data by correlation or other means.

Level 3 Inputs

Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset.

The Trust, with respect to the Series, uses the following methodologies to value instruments within its financial asset portfolio at fair value:

Trading Securities. These instruments include U.S. Treasury securities and open trade equity positions (futures contracts) that are actively traded on public markets with quoted pricing for corroboration. U.S. Treasury securities and futures contracts, are reported at fair value using Level 1 inputs. Trading securities instruments further include open trade equity positions (trading options and currency forwards) that are quoted prices for identical or similar assets that are not traded on active markets. Trading options and currency forwards are reported at fair value using Level 2 inputs.

Swap Contracts. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. Swap contracts are reported at fair value basis upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the

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counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. The fair value is corroborated through the use of a third party pricing service (“pricing service”). The valuation requires significant estimates utilizing Level 3 inputs, corroborated by management through the use of a third party pricing service (“pricing service”). The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable; and quality control testing procedures in place. The pricing service’s methodology includes performance of tolerance testing on its valuation models to ensure consistency and reasonableness of the values derived. The tolerance testing includes valuing the components of the product separately, i.e. underlying asset, volatility, financing rates, and so forth. The tolerance testing is part of the initial valuation setup and the ongoing daily valuation process. The pricing service also has several layers of quality control including: engineering / reverse engineering process to understand each Swap and its subcomponent parts fully; comparative analysis against other valuations performed with similar composition and characteristics; review of output valuation against expectations based on observable price movements of underlying futures; and lastly, periodic review by senior a financial engineer to ensure the design and function of the model is stable and performs as expected.

The Managing Owner has chartered a valuation committee to provide oversight of the valuation process for the Series. The valuation committee meets at least monthly to discuss the valuation process and any valuation issues that may arise. The valuation committee is comprised of senior members of the Managing Owner’s management team with varying areas of expertise that add value to the committee. The valuation committee reports to both the Managing Owner’s Management Commitee and the Trust’s Executive Committee. The committee further remains in communication with the Managing Owner’s Due Diligence Committee that provides ongoing counterparty risk monitoring of the swap counterparties. The committee monitors daily pricing provided by the swap counterparty and daily valuation provided by the third party pricing service. The valuation committee may request a price challenge if the daily valuation provided by the counterparty valuations differs significantly from the valuation obtained by the pricing service. The Managing Owner’s valuation committee monitors some additional input factors such as liquidity, volatility, and counterparty risk in order to further review the valuations provided by the pricing service.

Investment in Unconsolidated Trading Companies. This investment represents the fair value of the allocation of cash, futures, forwards, options and swaps to each respective Series relative to its trading allocations from unconsolidated Trading Companies. The Series may redeem their investment in the trading companies on a daily basis at the stated net asset value and therefore the inputs qualify for Level 2. However, as the Series, under the same management as the Trading Companies, have access to the underlying positions of the Trading Companies, the level determination are reflected on that basis. As such, the Series report investments in unconsolidated Trading Companies at fair value using the corresponding inputs of the underlying securities of the Trading Companies which results in the Series reporting the corresponding Level determination from the inputs of the Trading Company.

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The following table summarizes the instruments that comprise the Trust, with respect to the Series, financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs			Level 2 Inputs			Level 3 Inputs		Total Fair Value
Equinox Frontier Diversified Fund
Investment in Unconsolidated Trading Companies	$	5,899,789		$	298,675		$	—	$	6,198,464
Open Trade Equity (Deficit)		(571,551	)		—			—		(571,551	)
Options Purchased		—			374,470			—		374,470
Options Written		—			(219,660	)		—		(219,660	)
Swap Contracts		—			—			7,615,169		7,615,169
U.S. Treasury Securities		29,071,240			—			—		29,071,240
Equinox Frontier Masters Fund
Investment in Unconsolidated Trading Companies		8,598,866			168,654			—		8,767,520
U.S. Treasury Securities		11,913,754			—			—		11,913,754
Equinox Frontier Long/Short Commodity Fund
Swap Contracts		—			—			4,304,209		4,304,209
Investment in Unconsolidated Trading Companies		3,516,988			380,006			—		3,896,994
U.S. Treasury Securities		6,743,330			—			—		6,743,330
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		(778,963	)		—			—		(778,963	)
Swap Contracts		—			—			18,491,634		18,491,634
Investment in Unconsolidated Trading Companies		13,892,904			440,892			—		14,333,796
U.S. Treasury Securities		47,350,232			—			—		47,350,232
Equinox Frontier Select Fund										—
Open Trade Equity (Deficit)		55,956			—			—		55,956
Investment in Unconsolidated Trading Companies		373,618			—			3,639,651		4,013,269
U.S. Treasury Securities		2,415,549			—			—		2,415,549
Equinox Frontier Winton Fund
Investment in Unconsolidated Trading Companies		6,544,957			204,082			—		6,749,039
U.S. Treasury Securities		25,617,478			—					25,617,478
Equinox Frontier Heritage Fund
Swap Contracts		—			—			7,809,251		7,809,251
Investment in Unconsolidated Trading Companies		1,361,243			36,800			—		1,398,043
U.S. Treasury Securities		5,706,384			—			—		5,706,384

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December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Equinox Frontier Diversified Fund
Investments in Unconsolidated Trading Companies	$	6,631,887	$	(37,508	)	$	—	$	6,594,379
Open Trade Equity (Deficit)		3,171,968		43,238			—		3,215,206
Options Purchased		—		288,413			—		288,413
Options Written		—		(253,018	)		—		(253,018	)
Swap Contracts		—		—			6,570,408		6,570,408
U.S. Treasury Securities		31,051,659		—			—		31,051,659
Equinox Frontier Masters Fund
Investments in Unconsolidated Trading Companies		7,942,166		(40,188	)		—		7,901,978
U.S. Treasury Securities		16,217,173		—			—		16,217,173
Equinox Frontier Long/Short Commodity Fund
Investments in Unconsolidated Trading Companies		3,789,466		25,388			—		3,814,854
Swap Contracts		—		—			3,633,060		3,633,060
U.S. Treasury Securities		8,191,519		—			—		8,191,519
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		3,717,291		(419,742	)		—		3,297,549
Investments in Unconsolidated Trading Companies		18,354,685		(10,758	)		—		18,343,927
Swap Contracts		—		—			18,246,954		18,246,954
U.S. Treasury Securities		41,625,860		—			—		41,625,860
Equinox Frontier Select Fund
Investments in Unconsolidated Trading Companies		4,591,569		(28,926	)		3,539,498		8,102,141
U.S. Treasury Securities		6,476,939		—			—		6,476,939
Equinox Frontier Winton Fund
Investments in Unconsolidated Trading Companies		7,656,170		(176,512	)		—		7,479,658
U.S. Treasury Securities		29,593,974					—		29,593,974
Equinox Frontier Heritage Fund
Investments in Unconsolidated Trading Companies		1,576,952		(33,566	)		—		1,543,386
Swap Contracts		—		—			7,540,465		7,540,465
U.S. Treasury Securities		6,796,392		—					6,796,392

The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net unrealized gain/(loss) on swap contracts” on the statements of operations. Investment in unconsolidated trading company asset gains and losses (realized/unrealized) included in earnings are classified in “Change in fair value of investments in unconsolidated trading companies.” During the six months ended June 30, 2015 and year ended December 31, 2014, all identified Level 3 assets are components of the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund.

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For the Six Months Ended June 30, 2015

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	6,570,408	$	3,633,060		$	18,246,954
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		1,044,761		(328,851	)		244,680
Purchases of investments		—		1,000,000			—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—			—
Transfers in and/or out of Level 3		—		—			—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,615,169	$	4,304,209		$	18,491,634

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	7,540,465
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		268,786
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,809,251

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	3,539,498
Change in fair value of investments in unconsolidated trading companies		100,153
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	3,639,651

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For the Year Ended December 31, 2014

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	3,437,632	$	2,456,546	$	10,122,003
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		3,132,776		1,176,514		8,124,951
Purchases of investments		—		—		—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—		—
Transfers in and/or out of Level 3		—		—		—
Balance of recurring Level 3 assets as of December 31, 2014	$	6,570,408	$	3,633,060	$	18,246,954

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	5,435,184
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		2,105,281
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	7,540,465

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	2,415,637
Change in fair value of investments in unconsolidated trading companies		1,123,861
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	3,539,498

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The Series of the Trust assess the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Series’ accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six months ended June 30, 2015 and year ended December 31, 2014, the Trust did not transfer any assets between Levels 1, 2 or 3.

The amounts reflected in the change in ownership allocation result from changes in ownership in the underlying Trading Companies at the Series level, which have resulted in changes in consolidation or de-consolidation by the Series. The ownership in the Trading Companies is accounted for under the equity method, which approximates fair value.

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	1,044,760	$	(328,851	)	$	244,680	$	268,786

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	3,132,776	$	1,176,514	$	8,120,996	$	2,105,281

4. Swaps

In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Total return Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical total return Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities.

Each Series’ investment in Swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The Swaps serve to diversify the investment holdings of each Series and to provide access to programs and advisors that would not be otherwise available to the Series, and are not used for hedging purposes.

The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As

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of June 30, 2015 and December 31, 2014, approximately 8.3% and 7.0%, respectively, of the Trust’s assets were deposited with over-the-counter counterparties in order to initiate and maintain Swaps and is recorded as cash and cash equivalents on the Statements of Financial Condition of the Trust.

The Series may strategically invest assets in one or more Swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of these Series will be invested will not own any of the investments or indices referenced by any Swap entered into by these Series. In addition, neither the swap counterparty to the Trading Company of these Series nor any advisor referenced by any such Swap is a Trading Advisor to these Series.

The Series had invested in the following Swaps as of and for the six months ended June 30, 2015:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap			Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG			DeutscheBank AG
Notional Amount	$	62,910,098	$	30,500,000	$	10,090,513		$	15,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018			3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	3,880,000		$	5,993,000
Swap Value	$	8,891,634	$	4,215,169	$	424,209		$	1,816,251
Investee Returns		Total Returns		Total Returns		Total Returns			Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0		$	0
Change in Unrealized Gain/(Loss)	$	244,680	$	1,044,760	($	328,851	)	$	268,786
Fair Value as of 6/30/2015	$	18,491,634	$	7,615,169	$	4,304,209		$	7,809,251

The Series had invested in the following Swaps as of and for the year ended December 31, 2014:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap		Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	67,610,098	$	35,500,000	$	13,590,513	$	17,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018		3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	2,880,000	$	5,993,000
Swap Value	$	8,646,954	$	3,170,408	$	753,060	$	1,547,465
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	8,120,996	$	3,132,777	$	1,176,514	$	2,105,281
Fair Value as of 12/31/2014	$	18,246,955	$	6,570,409	$	3,633,060	$	7,540,466

5. Investments in Unconsolidated Trading Companies

Investments in unconsolidated trading companies represent cash and open trade equity invested in the Trading Companies by each Series and cumulative trading profits or losses allocated to each Series by the Trading Companies. Trading Companies allocate trading profits or losses on the basis of the proportion of each Series’ capital allocated for trading to each respective Trading Company, which bears no relationship to the amount of cash invested by a Series in the Trading Company. The Trading Companies are valued using the equity method of accounting, which approximates fair value.

38

The following table summarizes each of the Series’ investments in unconsolidated Trading Companies as of June 30, 2015 and December 31, 2014:

	As of June 30, 2015					As of December 31, 2014
	Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value		Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value
Series
Equinox Frontier Diversified Fund — Frontier Trading Companies I, II, VII, IX, XIV, XV, XXXIII and XXXVIII		9.96	%	$	6,198,464		9.11	%	$	6,594,379
Equinox Frontier Masters Fund — Frontier Trading Companies II, XIV, XV and XXXVIII		38.63	%	$	8,767,520		30.74	%	$	7,901,978
Equinox Frontier Long/Short Commodity Fund — Frontier Trading Companies I and XXXVIII		24.26	%	$	3,896,994		22.96	%	$	3,814,854
Equinox Frontier Balanced Fund — Frontier Trading Companies II, VII, XV and XXXVIII		14.77	%	$	14,333,796		16.92	%	$	18,343,927
Equinox Frontier Select Fund — Frontier Trading Companies XV, XXXVIII and XXXIX		20.83	%	$	4,013,269		53.06	%	$	8,102,141
Equinox Frontier Winton Fund — Frontier Trading Company II and XXXVIII		18.35	%	$	6,749,039		18.68	%	$	7,479,658
Equinox Frontier Heritage Fund — Frontier Trading Companies II and XXXVIII		8.80	%	$	1,398,043		9.32	%	$	1,543,386

The following tables summarize each of the Series’ equity in earnings from unconsolidated Trading Companies for the three and six months ended June 30, 2015 and 2014.

39

	Three Months Ended June 30, 2015												Three Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(77,867	)	$	950,477		$	1,028,045		$	1,900,655
Frontier Trading Company II LLC		(4,246	)		(685,823	)		(420,717	)		(1,110,786	)		(4,241	)		865,388			(8,894	)		852,253
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(85,942	)		(1,382,324	)		1,810,489			342,223			(96,234	)		(663,204	)		608,781			(150,657	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(41,516	)		249,214			263,796			471,494
Frontier Trading Company XV, LLC		—			—			—			—			(12,052	)		(487,276	)		155,923			(343,405	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(17,919	)		(151,523	)		(304,555	)		(473,997	)		(11,949	)		789,665			92,152			869,868
Frontier Trading Company XXXVIII, LLC		(10,482	)		77,904			(236,705	)		(169,283	)		—			—						—
Frontier Trading Company XXXIX, LLC		—			—			—			—			(11,766	)		(127,320	)		(97,402	)		(236,488	)
Total	$	(118,589	)	$	(2,141,766	)	$	848,512		$	(1,411,843	)	$	(255,625	)	$	1,576,944		$	2,042,401		$	3,363,720
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(6,561	)	$	(78,343	)	$	(920,425	)	$	(1,005,329	)	$	(8,994	)	$	441,002		$	166,625		$	598,633
Frontier Trading Company II LLC		(2,613	)		(420,988	)		(264,127	)	$	(687,728	)		(3,095	)		627,805			(8,751	)		615,959
Frontier Trading Company XIV, LLC		—			—			—			—			(36,029	)		189,278			214,868			368,117
Frontier Trading Company XV, LLC		(14,857	)		(979,930	)		(372,004	)		(1,366,791	)		(24,092	)		125,464			287,803			389,175
Frontier Trading Company VII, LLC		(50,573	)		(775,283	)		1,063,371			237,515
Frontier Trading Company XXXVIII, LLC		(4,586	)		35,342			(122,309	)		(91,553	)		(6,083	)		(78,704	)		(42,756	)		(127,533	)
Total	$	(79,190	)	$	(2,219,202	)	$	(615,494	)	$	(2,913,886	)	$	(78,293	)	$	1,304,845		$	617,789		$	1,844,351
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(63,635	)		(1,450,691	)		1,054,760			(459,566	)		(79,249	)		(199,250	)		450,592			172,093
Frontier Trading Companies XVIII, LLC		—			—			—			—			(9,017	)		(338,735	)		(291,055	)		(638,807	)
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,865	)		19,681			(69,554	)		(52,738	)		—			—			—			—
Total	$	(66,500	)	$	(1,431,010	)	$	985,206		$	(512,304	)	$	(88,266	)	$	(537,985	)	$	159,537		$	(466,714	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(83,797	)	$	975,639		$	(208,851	)		682,991		$	(263,573	)	$	1,115,464		$	(362,505	)		489,386
Frontier Trading Company II LLC		(5,791	)		(937,794	)		(560,595	)		(1,504,180	)		(12,088	)		(686,492	)		1,317,845			619,265
Frontier Trading Company V LLC		—			—			—			—												—
Frontier Trading Company VII, LLC		(97,027	)		(1,669,662	)		2,061,923			295,234			36,410			685,775			(1,108,643	)		(386,458	)
Frontier Trading Company XIV, LLC		—			—			—			—			(23,141	)		99,184			(416,179	)		(340,136	)
Frontier Trading Company XV, LLC		(231	)		(492,925	)		493,274			118			22,806			(867,989	)		1,231,415			386,232
Frontier Trading Company XVI, LLC		—			—			—			—												—
Frontier Trading Company XVIII, LLC		—			—			—			—												—
Frontier Trading Company XXIII, LLC		—			—			—			—												—
Frontier Trading Company XXXVIII, LLC		(17,308	)		134,812			(445,903	)		(328,399	)		(768,673	)		1,833,086			(991,089	)		73,324
Frontier Trading Company XXXIX, LLC		—			—			—			—			(75,543	)		(1,180,680	)		612,399			(643,824	)
Total	$	(204,154	)	$	(1,989,930	)	$	1,339,848		$	(854,236	)	$	(1,083,802	)	$	998,348		$	283,243		$	197,789
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC					—			(2	)		(2	)		(31,676	)		106,074			415,981			490,379
Frontier Trading Company XXI, LLC								(967,125	)		(967,125	)					—			—			—
Frontier Trading Company XXXVIII, LLC		(2,577	)		7,618			(23,723	)		(17,104	)		(2,970	)		(33,431	)		(15,011	)		(51,412	)
Frontier Trading Company XXXIX, LLC								127,518			127,518			(1,556	)		—			331,515			329,959
Total	$	(2,577	)	$	7,618		$	(863,332	)	$	(856,713	)	$	(36,202	)	$	72,643		$	732,485		$	768,926
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(14,911	)	$	(2,419,574	)	$	(1,407,788	)	$	(3,842,273	)	$	(13,657	)	$	2,787,074		$	(31,073	)	$	2,742,344
Frontier Trading Company XXXVIII ,LLC		(9,599	)		73,551			(282,923	)	$	(218,971	)		(9,787	)		(105,773	)		(73,711	)		(189,271	)
Total	$	(24,510	)	$	(2,346,023	)	$	(1,690,711	)	$	(4,061,244	)	$	(23,444	)	$	2,681,301		$	(104,784	)	$	2,553,073
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(2,685	)	$	(435,646	)	$	(252,853	)	$	(691,184	)	$	(3,057	)	$	623,800		$	(6,880	)	$	613,593
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,163	)		16,512			(62,218	)		(47,870	)		(2,639	)		(32,058	)		(21,536	)		(56,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(4,848	)	$	(419,134	)	$	(315,071	)	$	(739,054	)	$	(5,696	)	$	591,742		$	(28,416	)	$	557,360

40

	Six Months Ended June 30, 2015												Six Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(148,260	)	$	2,095,105		$	421,786		$	2,368,631
Frontier Trading Company II LLC		(8,329	)		647,469			(548,028	)		91,112			(8,992	)		1,132,028			(293,721	)		829,315
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(168,323	)		726,185			587,363			1,145,225			(248,337	)		(1,280,664	)		370,672			(1,158,329	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(101,125	)		(378,786	)		323,498			(156,413	)
Frontier Trading Company XV, LLC		—			—			—			—			(27,763	)		172,591			(786,997	)		(642,169	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(37,701	)		721,086			(330,774	)		352,611			(24,150	)		1,073,089			187,658			1,236,597
Frontier Trading Company XXXVIII, LLC		(17,490	)		952,971			(463,563	)		471,918			(24,173	)		(894,004	)		(675,056	)		(1,593,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(231,843	)	$	3,047,711		$	(755,002	)	$	2,060,866		$	(582,800	)	$	1,919,359		$	(452,160	)	$	884,399
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(10,535	)	$	1,180,694		$	(1,058,847	)	$	111,312		$	(14,650	)	$	84,485		$	656,689		$	726,524
Frontier Trading Company II LLC		(4,942	)		331,851			(335,234	)	$	(8,325	)		(6,805	)		841,881			(248,924	)		586,152
Frontier Trading Company XIV, LLC		(28,979	)		148,053			(801,924	)		(682,850	)		(95,138	)		(433,918	)		213,162			(315,894	)
Frontier Trading Company XV, LLC		(86,516	)		2,635,986			(1,948,507	)		600,963			(53,547	)		805,913			(875,590	)		(123,224	)
Frontier Trading Company XXXVIII, LLC		(7,391	)		333,664			(165,500	)		160,773			(13,153	)		(497,344	)		(372,146	)		(882,643	)
Total	$	(138,363	)	$	4,630,248		$	(4,310,012	)	$	181,873		$	(183,293	)	$	801,017		$	(626,809	)	$	(9,085	)
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(148,403	)		1,306,637			125,916			1,284,150			(84,192	)		(492,410	)		202,711			(373,891	)
Frontier Trading Companies XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(4,833	)		276,057			(133,153	)		138,071			(9,017	)		(338,735	)		(290,717	)		(638,469	)
Total	$	(153,236	)	$	1,582,694		$	(7,237	)	$	1,422,221		$	(93,209	)	$	(831,145	)	$	(88,006	)	$	(1,012,360	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(173,656	)	$	3,024,584		$	28,819			2,879,747		$	(21,190	)	$	(40,139	)	$	887,729			826,400
Frontier Trading Company II LLC		(10,988	)		749,066			(720,413	)		17,665			(12,125	)		1,514,527			(547,779	)		954,623
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(189,079	)		646,642			714,340			1,171,903			(237,492	)		(1,772,506	)		684,757			(1,325,241	)
Frontier Trading Company XIV, LLC		—			—			—			—			(75,543	)		(1,180,680	)		610,861			(645,362	)
Frontier Trading Company XV, LLC		(124	)		(217,025	)		217,318			169			(44,315	)		(299,183	)		(581,076	)		(924,574	)
Frontier Trading Company XVI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(27,010	)		1,355,729			(729,990	)		598,729			(42,486	)		(1,584,456	)		(1,141,801	)		(2,768,743	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			(1,538	)		(1,538	)
Total	$	(400,857	)	$	5,558,996		$	(489,926	)	$	4,668,213		$	(433,151	)	$	(3,362,437	)	$	(88,847	)	$	(3,884,435	)
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC		—			(195	)		2,173			1,978			(60,926	)		819,051			(483,409	)		274,716
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(1,797	)		64,307			(16,288	)		46,222			(6,234	)		(227,323	)		(163,164	)		(396,721	)
Frontier Trading Company XXXIX, LLC								127,536			127,536			(1,556	)		—			(204,940	)		(206,496	)
Total	$	(1,797	)	$	64,112		$	113,421		$	175,736		$	(68,716	)	$	591,728		$	(851,513	)	$	(328,501	)
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(28,184	)	$	1,889,892		$	(1,817,483	)	$	44,225		$	(27,607	)	$	3,664,132		$	(917,278	)	$	2,719,247
Frontier Trading Company XXXVIII ,LLC		(15,485	)		748,101			(394,852	)	$	337,764			(19,326	)		(670,668	)		(468,437	)		(1,158,431	)
Total	$	(43,669	)	$	2,637,993		$	(2,212,335	)	$	381,989		$	(46,933	)	$	2,993,464		$	(1,385,715	)	$	1,560,816
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(5,187	)	$	380,897		$	(330,929	)	$	44,781		$	(6,182	)	$	820,288		$	(205,585	)	$	608,521
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(3,489	)		167,362			(86,307	)		77,566			(5,444	)		(199,276	)		(149,643	)		(354,363	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(8,676	)	$	548,259		$	(417,236	)	$	122,347		$	(11,626	)	$	621,012		$	(355,228	)	$	254,158

41

The statements of financial condition as of June 30, 2015 and December 31, 2014 and the Condensed Statement of Income for the three and six months ended June 30, 2015 and 2014 for the unconsolidated Trading Companies are as follows:

Statements of Financial Condition - June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	12,124,771		$	6,069,994		$	6,984,925
Open trade equity/(deficit)		(278,805	)		3,259,443			(620,620	)
Interest receivable/(payable)		78			(40	)		277
Total assets	$	11,846,044		$	9,329,397		$	6,364,582
Members’ equity	$	11,846,044		$	9,329,397		$	6,364,582
Condensed Statement of Income - For the Three Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,243	)	$	479		$	707
Net realized gain/(loss) on investments, less		(3,431,043	)		(8,596,912	)		(2,837,649	)
Change in open trade equity/(deficit)		(955,908	)		3,773,587			1,391,567
Net income/(loss)	$	(4,388,194	)	$	(4,822,846	)	$	(1,445,375	)
Condensed Statement of Income - For the Six Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,630	)	$	589		$	707
Net realized gain/(loss) on investments, less		(3,941,511	)		(5,937,702	)		(3,827,270	)
Change in open trade equity/(deficit)		3,752,063			523,855			1,996,206
Net income/(loss)	$	(191,078	)	$	(5,413,258	)	$	(1,830,357	)

42

Statements of Financial Condition - December 31, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	13,015,321		$	18,121,232		$	1,834,790		$	11,072,355		$	4,826,699
Open trade equity/(deficit)		2,937,971			2,107,459			3,617,656			3,510,148			256,729
Interest receivable/(payable)		(2,291	)		607			(160	)		817			7
Total assets	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Members’ equity	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Condensed Statement of Income - For the Three Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(1,560	)	$	857		$	2,012		$	497
Net realized gain/(loss) on investments, less		(4,217,338	)		(5,965,412	)		5,454,372			1,510,226			735,318
Change in open trade equity/(deficit)		(312,487	)		69,697			(1,329,358	)		(1,504,440	)		431,576
Net income/(loss)	$	(4,517,305	)	$	(5,897,275	)	$	4,125,871		$	7,798		$	1,167,391
Condensed Statement of Income - For the Six Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(2,520	)	$	857		$	2,237		$	1,916
Net realized gain/(loss) on investments, less		(4,217,338	)		(7,909,584	)		5,454,372			(1,313,834	)		4,531,142
Change in open trade equity/(deficit)		(312,487	)		2,213,834			(1,329,358	)		2,737,190			3,263,786
Net income/(loss)	$	(4,517,305	)	$	(5,698,270	)	$	4,125,871		$	1,425,593		$	7,796,844

6. Transactions with Affiliates

The Managing Owner contributes funds to the Trust, with respect to the Series, in order to have a 1% interest in the aggregate capital, profits and losses of all Series and in return will receive units designated as general units in the Series in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner is required

to maintain at least a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of all Series so long as it is acting as the Managing Owner of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Equinox Frontier Balanced Fund Class 1a and 2a Units, aggregated, and each of the Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund. The 1% interest in these specific Series is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, with respect to the Series, as well. All Units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates.

Expenses

Management Fees—Each Series of Units pays to the Managing Owner a monthly management fee equal to a percentage of the nominal assets of such Series, calculated on a daily basis. The total amount of assets of a series allocated to trading advisors and/or reference programs, including (i) actual funds deposited in accounts directed by the trading advisors or deposited as margin in respect of swaps or other derivative instruments referencing a reference program plus (ii) any notional equity allocated to the trading advisors and any reference programs, is referred to herein as the “nominal assets” of the series. The annual rate of the management fee is: 0.5%

43

for the Equinox Frontier Balanced Fund Class 1, Class 2 and Class 3, 1.0% for the Equinox Frontier Balanced Fund Class 1a, Class 2a and Class 3a, 2.0% for the Equinox Frontier Winton Fund, Equinox Frontier Long/Short Commodity Fund Class 1a, Class 2a, and Class 3a and Equinox Frontier Masters Fund, 0.75% for Equinox Frontier Diversified Fund, 2.5% for the Equinox Frontier Heritage Fund and Equinox Frontier Select Fund, and 3.5% for the Equinox Frontier Long/Short Commodity Fund Class 1, Class 2 and Class 3. The Managing Owner may pay all or a portion of such management fees to the Trading Advisor(s) and/or waive (up to the percentage specified) any such management fee to the extent any related management fee is paid by a trading company or estimated management fee is embedded in a swap or other derivative instrument. Any management fee embedded in a swap or other derivative instrument may be greater or less than the management fee that would otherwise be charged to the series by the Managing Owner. As of the date of this Form 10-K, the trading advisor for a series that has invested in a swap has not received any management fees directly from the series for such swap, and instead the relevant trading advisor receives compensation via the fees embedded in the swap.

The management fee as a percentage of the applicable series’ net asset value will be greater than the percentage indicated above to the extent that the nominal assets of the series exceeds its net asset value. The managing owner expects that the nominal assets of each series will generally be maintained at a level in excess of the net asset value of such series and such excess may be substantial to the extent the managing owner deems necessary to achieve the desired level of volatility.

Trading Fees—In connection with each Series’ trading activities, the Equinox Frontier Long/Short Commodity Fund (Classes 1, 2 and 3), Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund pays to the Managing Owner a trading fee, or FCM Fee, up to 0.75% of such Series’ NAV, calculated daily. The Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund (Classes 1a, 2a and 3a) and Equinox Frontier Masters Fund pays to the Managing Owner a trading fee, or FCM Fee, up to 2.25% and a custodial/due diligence fee of 0.12% of such Series’ NAV, calculated daily.

Incentive Fees—Some Series pay to the Managing Owner an incentive fee of a certain percentage of new net trading profits generated by such Series, monthly or quarterly. Because the Equinox Frontier Balanced Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, and Equinox Frontier Long/Short Commodity Fund may each employ multiple Trading Advisors, these Series will pay the Managing Owner a monthly incentive fee calculated on a Trading Advisor by Trading Advisor basis. It is therefore possible that in any given period the Series may pay incentive fees to the Managing Owner for one or more Trading Advisors while each of these Series as a whole experiences losses. The incentive fee is 25% for the Equinox Frontier Balanced Fund and the Equinox Frontier Diversified Fund and 20% for the Equinox Frontier Winton Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, Equinox Frontier Long/Short Commodity Fund and Equinox Frontier Masters Fund. The Managing Owner may pay all or a portion of such incentive fees to the Trading Advisor(s) for such Series.

Service Fees—In addition, with respect to Class 1 and Class 1a Units of each Series, as applicable, the Series pays monthly or service fees to the Managing Owner of up to 3% of NAV annually, which the Managing Owner pays to selling agents of the Trust, with respect to the Series.

44

The following table summarizes fees earned by the Managing Owner for the three and six months ended June 30, 2015 and 2014:

Three Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	4,000	$	243,004	$	108,250	$	351,096
Equinox Frontier Masters Fund		41,072		182,496		60,813		147,701
Equinox Frontier Long/Short Commodity Fund		40,149		131,237		29,629		65,150
Equinox Frontier Balanced Fund		9,517		267,377		556,081		194,144
Equinox Frontier Select Fund		—		78,206		101,967		28,454
Equinox Frontier Winton Fund		—		307,212		198,125		74,984
Equinox Frontier Heritage Fund		—		70,986		74,974		25,063
Three Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	954,829	$	271,073	$	125,184	$	307,242
Equinox Frontier Masters Fund		168,094		230,233		76,310		147,195
Equinox Frontier Long/Short Commodity Fund		—		223,050		30,304		64,027
Equinox Frontier Balanced Fund		902,054		264,152		492,255		167,758
Equinox Frontier Select Fund		26,677		140,286		97,799		27,150
Equinox Frontier Winton Fund		415,629		287,648		177,981		64,049
Equinox Frontier Heritage Fund		86,999		81,966		65,875		21,279
Six Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,638,242	$	489,308	$	230,168	$	721,898
Equinox Frontier Masters Fund		576,374		361,156		125,991		301,334
Equinox Frontier Long/Short Commodity Fund		279,366		254,273		61,529		134,078
Equinox Frontier Balanced Fund		1,496,474		526,972		1,118,882		389,488
Equinox Frontier Select Fund		158,971		158,278		208,868		58,347
Equinox Frontier Winton Fund		715,409		630,317		403,462		151,960
Equinox Frontier Heritage Fund		132,676		148,884		151,991		50,754
Six Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,386,913	$	547,629	$	273,595	$	649,807
Equinox Frontier Masters Fund		181,806		507,313		180,593		323,110
Equinox Frontier Long/Short Commodity Fund		—		509,680		68,868		146,001
Equinox Frontier Balanced Fund		1,453,340		554,537		1,041,703		355,157
Equinox Frontier Select Fund		26,677		278,724		203,387		56,552
Equinox Frontier Winton Fund		415,629		568,021		360,945		128,644
Equinox Frontier Heritage Fund		86,999		161,975		138,600		44,378

The following table summarizes fees payable to the Managing Owner as of June 30, 2015 and December 31, 2014:

45

As of June 30, 2015
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	4,000	$	83,476	$	15,798	$	36,650	$	124,327
Equinox Frontier Masters Fund		41,071		60,312		5,738		15,452		50,813
Equinox Frontier Long/Short Commodity Fund		40,149		45,710		3,616		9,149		21,626
Equinox Frontier Balanced Fund		9,517		91,646		101,040		156,201		65,193
Equinox Frontier Select Fund		—		26,065		6,451		29,617		9,285
Equinox Frontier Winton Fund		—		102,252		61,319		46,288		24,963
Equinox Frontier Heritage Fund		—		23,699		13,738		19,744		8,305
As of December 31, 2014
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	2,387,825	$	86,486	$	16,168	$	34,905	$	132,984
Equinox Frontier Masters Fund		722,043		64,497		6,898		17,260		55,912
Equinox Frontier Long/Short Commodity Fund		158,660		45,361		3,713		10,562		24,436
Equinox Frontier Balanced Fund		1,793,318		101,208		84,976		167,151		66,037
Equinox Frontier Select Fund		185,791		27,835		13,263		32,520		10,119
Equinox Frontier Winton Fund		1,178,364		114,823		63,722		52,753		26,690
Equinox Frontier Heritage Fund		239,327		27,944		14,543		20,964		8,676

With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

For the six months ended June 30, 2015, amounts paid or owed to the Managing Owner for the difference in monthly service fees from prepaid initial service fees were $4,500 for the Equinox Frontier Balanced Fund, $530 for the Equinox Frontier Long/Short Commodity Fund, $1,173 for the Equinox Frontier Diversified Fund, $211 for the Equinox Frontier Select Fund, $595 for the Equinox Frontier Heritage Fund, $7,984 for the Equinox Frontier Winton Fund and $74 for the Equinox Frontier Masters Fund.

For the six months ended June 30, 2014, amounts paid or owed to the Managing Owner for the difference in monthly service fees from prepaid initial service fees were ($2,936) for the Equinox Frontier Balanced Fund, $21 for the Equinox Frontier Long/Short Commodity Fund, ($2,476) for the Equinox Frontier Diversified Fund, ($160) for the Equinox Frontier Select Fund, ($1,171) for the Equinox Frontier Heritage Fund, ($3,280) for the Equinox Frontier Winton Fund and $1,264 for the Equinox Frontier Masters Fund.

Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1, and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund, and Equinox Frontier Balanced Fund (Class 1a and Class 2a only), 20% of the total interest allocated to each Series is paid to the Managing Owner.

46

The following table outlines the interest paid by each Series to the Managing Owner and its ratio to average net assets for the three and six months ended June 30, 2015 and 2014:

Three Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	11,399	$	13,962		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 2		22,235		19,214		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 3		5,152		699		0.07	%		0.06	%
Equinox Frontier Masters Fund Class 1		7,621		10,192		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 2		6,063		6,395		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 3		3,480		1,270		0.07	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2		801		860		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3		4,837		5,172		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 1a		3,600		4,191		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2a		1,075		1,393		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3a		469		286		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 1		224,354		214,182		0.30	%		0.33	%
Equinox Frontier Balanced Fund Class 1AP		2,435		N/A		0.01	%		N/A
Equinox Frontier Balanced Fund Class 2		76,515		69,432		0.30	%		0.33	%
Equinox Frontier Balanced Fund Class 2a		358		309		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 3a		1,642		1,355		0.06	%		0.07	%
Equinox Frontier Select Fund Class 1		17,252		39,857		0.12	%		0.31	%
Equinox Frontier Select Fund Class 1AP		64		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		1,941		4,400		0.12	%		0.31	%
Equinox Frontier Winton Fund Class 1		119,313		101,949		0.44	%		0.43	%
Equinox Frontier Winton Fund Class 1AP		177		N/A		0.00	%		N/A
Equinox Frontier Winton Fund Class 2		42,458		44,763		0.31	%		0.43	%
Equinox Frontier Heritage Fund Class 1		30,474		30,529		0.30	%		0.35	%
Equinox Frontier Heritage Fund Class 1AP		193		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		10,079		8,905		0.30	%		0.35	%
Total	$	593,987	$	579,315

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Six Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	24,840	$	32,290		0.13	%		0.15	%
Equinox Frontier Diversified Fund Class 2		46,546		41,944		0.13	%		0.14	%
Equinox Frontier Diversified Fund Class 3		9,714		860		0.13	%		0.08	%
Equinox Frontier Masters Fund Class 1		15,782		25,974		0.14	%		0.18	%
Equinox Frontier Masters Fund Class 2		12,344		14,025		0.14	%		0.16	%
Equinox Frontier Masters Fund Class 3		6,829		1,677		0.14	%		0.09	%
Equinox Frontier Long/Short Commodity Fund Class 2		1,696		2,856		0.13	%		0.24	%
Equinox Frontier Long/Short Commodity Fund Class 3		10,011		12,025		0.13	%		0.17	%
Equinox Frontier Long/Short Commodity Fund Class 1a		7,628		10,200		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 2a		2,263		3,544		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 3a		949		588		0.13	%		0.15	%
Equinox Frontier Balanced Fund Class 1		430,704		479,990		0.57	%		0.73	%
Equinox Frontier Balanced Fund Class 1AP		4,627		N/A		0.02	%		N/A
Equinox Frontier Balanced Fund Class 2		145,522		156,628		0.57	%		0.74	%
Equinox Frontier Balanced Fund Class 2a		680		650		0.12	%		0.14	%
Equinox Frontier Balanced Fund Class 3a		3,118		2,939		0.11	%		0.14	%
Equinox Frontier Select Fund Class 1		41,323		89,879		0.29	%		0.69	%
Equinox Frontier Select Fund Class 1AP		149		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		4,702		10,092		0.29	%		0.70	%
Equinox Frontier Winton Fund Class 1		241,720		213,976		0.89	%		0.90	%
Equinox Frontier Winton Fund Class 1AP		354		N/A		0.01	%		N/A
Equinox Frontier Winton Fund Class 2		103,429		90,922		0.76	%		0.87	%
Equinox Frontier Heritage Fund Class 1		61,466		67,699		0.60	%		0.77	%
Equinox Frontier Heritage Fund Class 1AP		381		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		20,247		18,948		0.60	%		0.74	%
Total	$	1,197,024	$	1,277,706

The Managing Owner, under an amended contract, paid to The Bornhoft Group Corporation, an affiliate of the Trust, an annual payment of $1,100,000 for the first year of the contract and $600,000 for the second year of the contract, and $300,000 for the third and final year for investment and advisor services and 0.1% annually thereafter of the trading level with the Equinox Frontier Balanced Fund in lieu of a monthly service fee. The Managing Owner paid $139,848 and $221,095 under this agreement for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements. This contract ended April 30, 2015.

Equinox Financial Group, LLC, an affiliate of the Trust, provides management services for the Managing Owner who paid $730,000 and $241,667 for the six months ended June 30, 2015 and 2014, and $425,000 and $91,667 for the three months ended June 30, 2014, respectively. These amounts have no impact on the Series’ financial statements.

Solon Capital, LLC, an affiliate of the Trust, provides product development and marketing services. For these services, the Managing Owner paid Solon Capital, LLC, $623,715 and $581,681, respectively, for the six months ended June 30, 2015 and 2014 and $307,442 and $272,694 for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements.

48

Equinox Group Distributors LLC, an affiliate under common control of the Managing Owner, serves as wholesaler of the Trust by marketing to broker/dealer organizations.

7. Financial Highlights

The following information presents the financial highlights of the Trust, with respect to the Series, for the three and six months ended June 30, 2015 and 2014.

49

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2015	$	131.66		$	145.76		$	134.57		$	128.38		$	142.12		$	131.73		$	166.20		$	166.06		$	120.70		$	133.49		$	134.09
Net operating results:
Interest income		0.32			0.36			0.33			0.33			0.36			0.34			0.39			0.39			0.28			0.31			0.31
Expenses		(2.02	)		(1.39	)		(1.28	)		(2.44	)		(1.97	)		(1.82	)		(2.12	)		(2.12	)		(2.11	)		(1.70	)		(1.71	)
Net gain/(loss) on investments, net of non-controlling interests		(14.41	)		(16.24	)		(14.92	)		(16.26	)		(18.19	)		(16.80	)		(16.31	)		(16.13	)		(11.70	)		(13.07	)		(13.05	)
Net income/(loss)		(16.11	)		(17.27	)		(15.87	)		(18.37	)		(19.80	)		(18.28	)		(18.04	)		(17.86	)		(13.53	)		(14.46	)		(14.45	)
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-5.46	%		-2.97	%		-2.97	%		-6.56	%		-4.36	%		-4.36	%		-3.82	%		-3.82	%		-5.89	%		-3.82	%		-3.79	%
Expenses before incentive fees (4)		6.50	%		4.01	%		4.01	%		7.50	%		5.30	%		5.30	%		4.59	%		4.59	%		6.67	%		4.59	%		4.55	%
Expenses after incentive fees (4)		6.51	%		4.02	%		4.02	%		7.67	%		5.46	%		5.46	%		4.83	%		4.83	%		6.90	%		4.83	%		4.80	%
Total return before incentive fees (2)		-12.23	%		-11.84	%		-11.79	%		-14.14	%		-13.77	%		-13.71	%		-10.62	%		-10.52	%		-10.98	%		-10.60	%		-10.53	%
Total return after incentive fees (2)		-12.24	%		-11.85	%		-11.79	%		-14.31	%		-13.93	%		-13.88	%		-10.85	%		-10.76	%		-11.21	%		-10.83	%		-10.78	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	148.80		$	151.80		$	204.17		$	174.76		$	174.19					$	106.16		$	108.31		$	143.73
Net operating results:
Interest income		0.01			0.01			0.02			0.01			0.01						0.00			0.00			0.00
Expenses		(1.71	)		(0.66	)		(0.89	)		(0.76	)		(0.76	)					(1.42	)		(0.70	)		(0.93	)
Net gain/(loss) on investments, net of non-controlling interests		(15.28	)		(15.66	)		(21.06	)		(17.65	)		(17.59	)					(17.43	)		(17.87	)		(23.71	)
Net income/(loss)		(16.98	)		(16.31	)		(21.93	)		(18.40	)		(18.34	)					(18.85	)		(18.57	)		(24.64	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-4.76	%		-1.76	%		-1.76	%		-1.76	%		-1.76	%					-5.81	%		-2.81	%		-2.81	%
Expenses before incentive fees (4)		4.78	%		1.78	%		1.78	%		1.78	%		1.78	%					5.81	%		2.81	%		2.81	%
Expenses after incentive fees (4)		4.79	%		1.79	%		1.79	%		1.79	%		1.79	%					5.81	%		2.81	%		2.81	%
Total return before incentive fees (2)		-11.40	%		-10.74	%		-10.73	%		-10.52	%		-10.52	%					-17.76	%		-17.15	%		-17.14	%
Total return after incentive fees (2)		-11.41	%		-10.74	%		-10.74	%		-10.53	%		-10.53	%					-17.76	%		-17.15	%		-17.14	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	191.90		$	195.77		$	248.56		$	147.87		$	150.86		$	201.89
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(3.06	)		(1.76	)		(2.23	)		(2.01	)		(1.01	)		(1.35	)
Net gain/(loss) on investments, net of non-controlling interests		(22.99	)		(23.55	)		(29.90	)		(19.76	)		(20.24	)		(27.09	)
Net income/(loss)		(26.05	)		(25.31	)		(32.13	)		(21.77	)		(21.25	)		(28.44	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-6.83	%		-3.82	%		-3.82	%		-5.88	%		-2.88	%		-2.88	%
Expenses before incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Expenses after incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Total return before incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%
Total return after incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

50

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2014	$	113.09		$	124.67		$	115.03		$	116.61		$	128.53		$	119.06		$	138.30		$	138.34		$	101.12		$	111.35		$	111.77
Net operating results:
Interest income		0.66			0.73			0.68			0.67			0.74			0.68			0.79			0.79			0.58			0.64			0.64
Expenses		(7.34	)		(6.43	)		(5.94	)		(7.24	)		(6.53	)		(6.03	)		(5.86	)		(5.86	)		(5.42	)		(4.71	)		(4.73	)
Net gain/(loss) on investments, net of non-controlling interests		9.13			9.51			8.93			(0.03	)		(0.42	)		(0.26	)		14.93			14.93			10.90			11.76			11.96
Net income/(loss)		2.46			3.82			3.67			(6.60	)		(6.21	)		(5.61	)		9.86			9.86			6.05			7.68			7.87
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-8.11	%		-5.63	%		-5.63	%		-8.60	%		-6.39	%		-6.39	%		-5.01	%		-5.01	%		-7.10	%		-5.01	%		-4.94	%
Expenses before incentive fees (4)		6.49	%		4.01	%		4.01	%		7.45	%		5.24	%		5.24	%		4.45	%		4.45	%		6.54	%		4.45	%		4.31	%
Expenses after incentive fees (4)		9.18	%		6.70	%		6.70	%		9.71	%		7.49	%		7.49	%		6.04	%		6.04	%		8.13	%		6.04	%		5.97	%
Total return before incentive fees (2)		4.86	%		5.75	%		5.88	%		-3.40	%		-2.57	%		-2.45	%		8.72	%		8.72	%		7.57	%		8.49	%		8.70	%
Total return after incentive fees (2)		2.18	%		3.06	%		3.19	%		-5.66	%		-4.83	%		-4.71	%		7.13	%		7.13	%		5.98	%		6.90	%		7.04	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	131.54		$	133.20		$	179.16		$	153.02		$	152.52					$	95.61		$	96.82		$	128.48
Net operating results:
Interest income		0.02			0.02			0.03			0.02			0.02						0.00			0.00			0.00
Expenses		(5.40	)		(3.35	)		(4.51	)		(3.86	)		(3.84	)					(3.89	)		(2.44	)		(3.24	)
Net gain/(loss) on investments, net of non-controlling interests		5.66			5.62			7.56			7.17			7.15						(4.41	)		(4.64	)		(6.15	)
Net income/(loss)		0.28			2.29			3.08			3.34			3.33						(8.30	)		(7.08	)		(9.39	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-6.18	%		-3.17	%		-3.17	%		-3.17	%		-3.17	%					-6.80	%		-3.80	%		-3.80	%
Expenses before incentive fees (4)		4.78	%		1.77	%		1.77	%		1.77	%		1.77	%					5.79	%		2.79	%		2.79	%
Expenses after incentive fees (4)		6.21	%		3.20	%		3.20	%		3.20	%		3.20	%					6.80	%		3.80	%		3.80	%
Total return before incentive fees (2)		1.65	%		3.15	%		3.15	%		3.62	%		3.62	%					-7.67	%		-6.30	%		-6.29	%
Total return after incentive fees (2)		0.21	%		1.72	%		1.72	%		2.18	%		2.18	%					-8.68	%		-7.31	%		-7.31	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	175.95		$	178.18		$	226.23		$	130.28		$	131.93		$	176.56
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(9.39	)		(6.81	)		(8.65	)		(5.46	)		(3.45	)		(4.62	)
Net gain/(loss) on investments, net of non-controlling interests		(0.71	)		(0.91	)		(1.15	)		1.28			1.13			1.51
Net income/(loss)		(10.10	)		(7.72	)		(9.80	)		(4.18	)		(2.32	)		(3.11	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-8.62	%		-5.62	%		-5.62	%		-6.94	%		-3.93	%		-3.93	%
Expenses before incentive fees (4)		6.87	%		3.86	%		3.86	%		5.96	%		2.96	%		2.96	%
Expenses after incentive fees (4)		8.62	%		5.62	%		5.62	%		6.94	%		3.93	%		3.93	%
Total return before incentive fees (2)		-3.99	%		-2.58	%		-2.58	%		-2.23	%		-0.78	%		-0.79	%
Total return after incentive fees (2)		-5.74	%		-4.33	%		-4.33	%		-3.21	%		-1.76	%		-1.76	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

51

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2014	$	82.77		$	90.05		$	82.92		$	87.30		$	94.96		$	87.80		$	111.48		$	111.51		$	82.42		$	89.56		$	89.74
Net operating results:
Interest income		0.22			0.24			0.22			0.25			0.28			0.26			0.32			0.32			0.24			0.26			0.26
Expenses		(2.93	)		(2.66	)		(2.46	)		(2.42	)		(2.12	)		(1.97	)		(1.95	)		(1.95	)		(1.87	)		(1.57	)		(1.57	)
Net gain/(loss) on investments, net of non-controlling interests		6.71			7.18			6.69			7.84			8.45			7.88			2.32			2.32			1.97			2.07			2.13
Net income/(loss)		4.00			4.76			4.45			5.67			6.61			6.17			0.69			0.69			0.34			0.76			0.82
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-7.61	%		-5.26	%		-5.26	%		-7.78	%		-5.61	%		-5.61	%		-5.80	%		-5.80	%		-7.89	%		-5.80	%		-5.80	%
Expenses before incentive fees (4)		6.82	%		4.47	%		4.47	%		8.26	%		6.09	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Expenses after incentive fees (4)		8.65	%		6.31	%		4.47	%		8.93	%		6.77	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Total return before incentive fees (2)		6.67	%		7.12	%		5.37	%		7.17	%		7.64	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%
Total return after incentive fees (2)		4.83	%		5.29	%		5.37	%		6.49	%		6.96	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	101.99		$	135.81		$	115.17		$	114.80		$	75.01		$	98.55
Net operating results:
Interest income		0.01			0.01			0.01			0.01			0.00			0.00
Expenses		(2.27	)		(2.02	)		(1.72	)		(1.71	)		(1.58	)		(1.34	)
Net gain/(loss) on investments, net of non-controlling interests		4.13			5.55			5.02			4.99			4.80			6.35
Net income/(loss)		1.87			3.54			3.31			3.29			3.22			5.01
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-5.91	%		-2.91	%		-2.91	%		-2.91	%		-7.82	%		-4.81	%
Expenses before incentive fees (4)		4.94	%		1.93	%		1.93	%		1.93	%		7.63	%		4.63	%
Expenses after incentive fees (4)		5.94	%		2.94	%		2.94	%		2.94	%		7.82	%		4.81	%
Total return before incentive fees (2)		2.84	%		3.61	%		3.88	%		3.87	%		4.48	%		5.27	%
Total return after incentive fees (2)		1.83	%		2.61	%		2.87	%		2.87	%		4.29	%		5.08	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	136.93		$	172.12		$	95.41		$	126.41
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(4.21	)		(3.98	)		(2.38	)		(2.19	)
Net gain/(loss) on investments, net of non-controlling interests		12.35			15.58			9.55			12.71
Net income/(loss)		8.14			11.60			7.17			10.52
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.34	%		-5.34	%		-7.41	%		-4.41	%
Expenses before incentive fees (4)		7.13	%		4.12	%		6.65	%		3.64	%
Expenses after incentive fees (4)		8.34	%		5.34	%		7.41	%		4.41	%
Total return before incentive fees (2)		7.16	%		7.95	%		8.28	%		9.09	%
Total return after incentive fees (2)		5.94	%		6.74	%		7.51	%		8.32	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

52

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2013	$	87.10		$	94.35		$	84.21		$	91.83		$	99.46		$	91.91		$	125.26		$	125.30		$	92.73		$	100.34		$	100.47
Net operating results:
Interest income		0.45			0.49			0.45			0.53			0.58			0.54			0.71			0.71			0.52			0.57			0.57
Expenses		(4.84	)		(4.22	)		(3.88	)		(4.17	)		(3.53	)		(3.30	)		(4.01	)		(3.97	)		(3.82	)		(3.20	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		4.06			4.19			6.59			4.78			5.06			4.82			(9.79	)		(9.84	)		(6.67	)		(7.39	)		(7.30	)
Net income/(loss)		(0.33	)		0.46			3.16			1.14			2.11			2.06			(13.09	)		(13.10	)		(9.97	)		(10.02	)		(9.91	)
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-8.08	%		-5.75	%		-5.75	%		-7.67	%		-5.53	%		-5.53	%		-5.71	%		-5.71	%		-7.79	%		-5.71	%		-5.71	%
Expenses before incentive fees (4)		6.67	%		4.35	%		22.48	%		8.23	%		6.10	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Expenses after incentive fees (4)		9.17	%		6.84	%		22.48	%		8.90	%		6.76	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Total return before incentive fees (2)		2.12	%		2.98	%		3.75	%		1.90	%		2.78	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%
Total return after incentive fees (2)		-0.38	%		0.49	%		3.75	%		1.24	%		2.12	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	106.29		$	140.49		$	118.80		$	118.41		$	79.86		$	104.14
Net operating results:
Interest income		0.02			0.02			0.02			0.02			0.00			0.00
Expenses		(4.05	)		(3.37	)		(2.86	)		(2.85	)		(2.93	)		(2.37	)
Net gain/(loss) on investments, net of non-controlling interests		1.60			2.21			2.52			2.51			1.30			1.79
Net income/(loss)		(2.43	)		(1.14	)		(0.32	)		(0.32	)		(1.63	)		(0.58	)
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-6.41	%		-3.41	%		-3.41	%		-3.41	%		-7.62	%		-4.62	%
Expenses before incentive fees (4)		4.92	%		1.92	%		1.92	%		1.92	%		7.45	%		4.45	%
Expenses after incentive fees (4)		6.45	%		3.44	%		3.44	%		3.44	%		7.62	%		4.62	%
Total return before incentive fees (2)		-0.76	%		0.71	%		1.25	%		1.25	%		-1.87	%		-0.38	%
Total return after incentive fees (2)		-2.29	%		-0.81	%		-0.27	%		-0.27	%		-2.04	%		-0.56	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	139.59		$	174.17		$	102.05		$	134.21
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(6.51	)		(5.60	)		(3.85	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		11.99			15.15			4.38			5.90
Net income/(loss)		5.48			9.55			0.53			2.72
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.27	%		-5.27	%		-7.22	%		-4.22	%
Expenses before incentive fees (4)		7.06	%		4.06	%		6.49	%		3.49	%
Expenses after incentive fees (4)		8.27	%		5.27	%		7.22	%		4.22	%
Total return before incentive fees (2)		5.13	%		6.69	%		1.25	%		2.76	%
Total return after incentive fees (2)		3.93	%		5.48	%		0.52	%		2.03	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

53

8. Derivative Instruments and Hedging Activities

The Series’ primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts). The Series do not enter into or hold positions for hedging purposes as defined under ASC 815, Derivatives and Hedging (“ASC 815”). The detail of the fair value of the Series’ derivatives by instrument types as of June 30, 2015 and December 31, 2014 is included in the Condensed Schedules of Investments. See Note 4 for further disclosure related to each Series’ position in swap contracts.

The following tables summarize the monthly averages of futures contracts bought and sold for each respective Series of the Trust:

For the Three Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		546		584
Equinox Frontier Balanced Fund		1,797		1,774
Equinox Frontier Diversified Fund		2,769		2,726

For the Three Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		67		66
Equinox Frontier Balanced Fund		3,740		3,748

For the Six Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		1,255		1,304
Equinox Frontier Balanced Fund		4,039		3,985
Equinox Frontier Diversified Fund		6,368		6,338

For the Six Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		3,593		3,902
Equinox Frontier Balanced Fund		8,390		8,355
Equinox Frontier Masters Fund		79		113

54

The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(201,265	)	$	(370,488	)	$	(145,932	)
Currencies		(645,245	)		(1,169,704	)		259,547
Energies		(440,367	)		119,419			(612,864	)
Agriculturals		(104,895	)		(75,520	)		(235,594	)
Interest rates		(848,640	)		(1,397,750	)		427,927
Stock indices		76,440			211,184			787,414
Realized trading income/(loss)(1)	$	(2,163,972	)	$	(2,682,859	)	$	480,498

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	21,000		$	(318,434	)
Currencies		—			(391,938	)
Energies		96,785			(96,424	)
Agriculturals		(257,049	)		(138,369	)
Interest rates		3,989			2,409,585
Stock indices		(9,090	)		2,647,014
Realized trading income/(loss)(1)	$	(144,365	)	$	4,111,434

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(746,843	)	$	(744,338	)	$	(626,206	)
Currencies		(311,552	)		521,161			1,559,721
Energies		253,545			685,468			19,336
Agriculturals		(132,603	)		(34,965	)		(192,326	)
Interest rates		206,485			712,111			5,125,887
Stock indices		852,623			2,453,383			2,995,255
Realized trading income/(loss)(1)	$	121,655		$	3,592,820		$	8,881,667

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(60,704	)	$	(988,064	)	$	(5,850	)
Currencies		(278,672	)		(191,348	)		(130,109	)
Energies		(1,920,468	)		(53,467	)		(783	)
Agriculturals		(252,807	)		159,728			(19,987	)
Interest rates		(223,175	)		5,794,195			471,687
Stock indices		154,966			3,009,552			10,927
Realized trading income/(loss)(1)	$	(2,580,860	)	$	7,730,596		$	325,885

(1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options.

55

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	138,192		$	(77,032	)	$	6,780
Currencies		(98,437	)		165,879			(364,623	)
Energies		(83,883	)		(84,762	)		(92,955	)
Agriculturals		(516,454	)		218,632			(521,317	)
Interest rates		(139,963	)		(683,706	)		(1,291,495	)
Stock indices		(202,114	)		(586,952	)		(820,705	)
Change in unrealized trading income/(loss)(1)	$	(902,659	)	$	(1,047,941	)	$	(3,084,315	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	52,921		$	(4,268	)
Currencies		(14,053	)		(18,442	)
Energies		51,961			219,801
Agriculturals		1,619,030			396,753
Interest rates		24,050			1,252,653
Stock indices		33,223			(1,222,734	)
Change in unrealized trading income/(loss)(1)	$	1,767,132		$	623,763

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	545,034		$	7,712		$	176,379
Currencies		(26,264	)		(35,662	)		(1,067,105	)
Energies		(744,229	)		(630,250	)		(403,177	)
Agriculturals		(437,516	)		113,791			(226,857	)
Interest rates		(576,893	)		(931,136	)		(1,605,340	)
Stock indices		(366,874	)		(938,211	)		(86,106	)
Change in unrealized trading income/(loss)(1)	$	(1,606,742	)	$	(2,413,756	)	$	(3,212,206	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(162,388	)	$	(253,715	)	$	73,476
Currencies		(6,439	)		(190,539	)		(195,840	)
Energies		1,631,427			208,535			(135,932	)
Agriculturals		(574,982	)		564,384			(73,196	)
Interest rates		322,580			1,123,141			55,085
Stock indices		(248,852	)		(2,987,207	)		193,070
Change in unrealized trading income/(loss)(1)	$	961,346		$	(1,535,401	)	$	(83,337	)

(1) Amounts recorded in the Statements of Operations under Net change in open trade equity (deficit).

56

Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Series’ open trade equity/(deficit), options written, and receivables from futures commissions merchants (each, an “FCM”) are subject to master netting arrangements and collateral arrangements and meet the U.S. GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Series’ policy is to recognize amounts subject to master netting arrangements on a net basis on the statements of financial condition.

The following tables present gross and net information about the Series’ assets and liabilities subject to master netting arrangements as disclosed on the statements of financial condition as of June 30, 2015 and December 31, 2014.

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	116,357	$	(895,320	)	$	(778,963	)
Swap Contracts		18,491,634		—			18,491,634
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	—	$	(571,551	)	$	(571,551	)
Options Purchased		374,470		—			374,470
Options Written		—		(219,660	)		(219,660	)
Swap Contracts	$	7,615,169	$	—			7,615,169
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	4,304,209	$	—			4,304,209
Equinox Frontier Heritage Fund
Swap Contracts	$	7,809,251	$	—			7,809,251
Equinox Frontier Select Fund
Open Trade Equity/(Deficit)	$	153,408	$	(97,452	)	$	55,956

57

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	4,281,391	$	(983,842	)	$	3,297,549
Swap Contracts		18,246,954		—			18,246,954
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	3,215,206	$	—		$	3,215,206
Options Purchased		288,413		—			288,413
Options Written		—		(253,018	)		(253,018	)
Swap Contracts		6,570,408		—			6,570,408
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	3,633,060	$	—		$	3,633,060
Equinox Frontier Heritage Fund
Swap Contracts	$	7,540,465	$	—		$	7,540,465

9. Trading Activities and Related Risks

The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited.

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time.

58

In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the United States and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company.

The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

10. Indemnifications and Guarantees noted in Management Discussion and Analysis

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Series up to the amount of equity at risk with UBS of the referenced Series as allocated from the Trading Company. The Series have not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote.

The Trust has guaranteed the obligations of the Trading Companies under the customer agreements with UBS Securities LLC as Clearing Broker. In the event that one Series of the Trust is unable to meet its obligations to UBS Securities LLC, the assets of the other Series will be available to UBS Securities LLC as part of the guarantee, but only to the extent of such Series’ pro rata allocation to the Trading Company. The Series have not recorded any liability for the indemnifications in the accompanying financial statements, as it expects any possibility of losses to be remote.

11. Subsequent Events

None.

59

Equinox Frontier Funds

Consolidated Statements of Financial Condition

June 30, 2015 (Unaudited) and December 31, 2014

	6/30/15		12/31/14
ASSETS
Cash and cash equivalents	$	21,392,438	$	18,977,844
U.S. Treasury securities, at fair value		128,817,968		139,953,516
Receivable from futures commission merchants		61,682,864		65,911,348
Open trade equity, at fair value		—		14,824,422
Options purchased, at fair value		3,819,429		9,075,883
Swap contracts, at fair value		38,220,263		35,990,887
Prepaid service fees		29,917		16,042
Interest receivable		2,207,897		2,151,018
Receivables from related parties		5,058		5,661
Other assets		10		500,010
Total Assets	$	256,175,844	$	287,406,631
LIABILITIES & CAPITAL
LIABILITIES
Open trade deficit, at fair value	$	17,281	$	—
Written options, at fair value		2,581,870		8,963,838
Pending owner additions		39,168		41,954
Owner redemptions payable		9,883		159,066
Incentive fees payable to Managing Owner		94,737		6,665,328
Management fees payable to Managing Owner		433,161		468,154
Interest payable to Managing Owner		207,941		203,086
Trading fees payable to Managing Owner		304,512		324,854
Service fees payable to Managing Owner		313,101		336,115
Payables to related parties		52,391		37,927
Other liabilities		—		—
Total Liabilities		4,054,045		17,200,322
CAPITAL
Managing Owner Units		5,851,215		5,672,261
Limited Owner Units		246,270,584		264,534,048
Total Capital		252,121,799		270,206,309
Total Liabilities and Capital	$	256,175,844	$	287,406,631

The accompanying notes are an integral part of these consolidated financial statements.

60

Equinox Frontier Funds

Consolidated Condensed Schedule of Investments

June 30, 2015 (Unaudited)

Description		Fair Value			% of Total Capital (Net Asset Value)
LONG FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	(2,164,139	)		-0.86	%
	Various base metals futures contracts (U.S.)		84,814			0.03	%
	Various currency futures contracts (Singapore)		(364	)		0.00	%
	Various currency futures contracts (U.S.)		(106,166	)		-0.04	%
	Various energy futures contracts (Europe)		7,576			0.00	%
	Various energy futures contracts (Far East)		(2,367	)		0.00	%
	Various energy futures contracts (U.S.)		2,559,970			1.02	%
	Various interest rates futures contracts (Canada)		114,607			0.05	%
	Various interest rates futures contracts (Europe)		(74,443	)		-0.03	%
	Various interest rates futures contracts (Far East)		42,359			0.02	%
	Various interest rates futures contracts (Oceanic)		10,587			0.00	%
	Various interest rates futures contracts (U.S.)		437,966			0.17	%
	Various precious metal futures contracts (Far East)		(4,131	)		0.00	%
	Various precious metal futures contracts (U.S.)		(1,069,275	)		-0.42	%
	Various soft futures contract (Europe)		(970	)		0.00	%
	Various soft futures contracts (Africa)		(454	)		0.00	%
	Various soft futures contracts (Canada)		22,981			0.01	%
	Various soft futures contracts (Europe)		168,826			0.07	%
	Various soft futures contracts (Far East)		(37,878	)		-0.02	%
	Various soft futures contracts (Oceanic)		(431	)		0.00	%
	Various soft futures contracts (U.S.)		2,046,472			0.81	%
	Various stock index futures contracts (Africa)		(1,893	)		0.00	%
	Various stock index futures contracts (Canada)		(20,034	)		-0.01	%
	Various stock index futures contracts (Europe)		(583,815	)		-0.23	%
	Various stock index futures contracts (Far East)		(707,053	)		-0.28	%
	Various stock index futures contracts (Mexico)		302			0.00	%
	Various stock index futures contracts (Oceanic)		(9,345	)		0.00	%
	Various stock index futures contracts (U.S.)		(1,400,916	)		-0.56	%
	Total Long Futures Contracts	$	(687,214	)		-0.27	%
SHORT FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	2,047,404			0.81	%
	Various base metals futures contracts (U.S.)		(55,018	)		-0.02	%
	Various currency futures contracts (U.S.)		291,247			0.12	%
	Various energy futures contracts (Europe)		(149	)		0.00	%
	Various energy futures contracts (Far East)		2,424			0.00	%
	Various energy futures contracts (U.S.)		(1,618,118	)		-0.64	%
	Various interest rates futures contracts (Canada)		(28,296	)		-0.01	%
	Various interest rates futures contracts (Europe)		(462,927	)		-0.18	%
	Various interest rates futures contracts (Far East)		(67,118	)		-0.03	%
	Various interest rates futures contracts (Oceanic)		(33,365	)		-0.01	%
	Various interest rates futures contracts (U.S.)		(34,253	)		-0.01	%
	Various precious metal futures contracts (Far East)		4,829			0.00	%
	Various precious metal futures contracts (U.S.)		1,786,770			0.71	%
	Various soft futures contract (Europe)		(830	)		0.00	%
	Various soft futures contracts (Europe)		(78,844	)		-0.03	%
	Various soft futures contracts (Far East)		2,939			0.00	%
	Various soft futures contracts (U.S.)		(1,332,886	)		-0.53	%
	Various stock index futures contracts (Africa)		294			0.00	%
	Various stock index futures contracts (Canada)		5,287			0.00	%
	Various stock index futures contracts (Europe)		39,728			0.02	%
	Various stock index futures contracts (Far East)		(66,787	)		-0.03	%
	Various stock index futures contracts (Oceanic)		42,871			0.02	%
	Various stock index futures contracts (U.S.)		312,496			0.12	%
	Total Short Futures Contracts	$	757,698			0.31	%
CURRENCY FORWARDS *
	Various currency forwards contracts (NA)	$	(87,765	)		-0.03	%
	Total Currency Forwards	$	(87,765	)		-0.03	%
	Total Open Trade Equity (Deficit)	$	(17,281	)		0.01	%
OPTIONS PURCHASED *
	Various energy futures contracts (U.S.)	$	3,436,940			1.36	%
	Various soft futures contracts (U.S.)		8,020			0.00	%
	Various stock index futures contracts (U.S.)		374,469			0.15	%
	Total Options Purchased	$	3,819,429			1.51	%
OPTIONS WRITTEN *
	Various energy futures contracts (U.S.)	$	(2,300,699	)		-0.91	%
	Various soft futures contracts (U.S.)		(61,510	)		-0.02	%
	Various stock index futures contracts (U.S.)		(219,661	)		-0.09	%
	Total Options Written	$	(2,581,870	)		-1.02	%
SWAPS (1)
	Frontier Brevan Howard swap (U.S.)	$	7,809,251			3.10	%
	Frontier XXXIV Balanced select swap (U.S.)		18,491,634			7.33	%
	Frontier XXXV Diversified select swap (U.S.)		7,615,169			3.02	%
	Frontier XXXVII L/S select swap (U.S.)		4,304,209			1.71	%
	Total Swaps	$	38,220,263			15.16	%
U.S. TREASURY SECURITIES
FACE VALUE		Fair Value			Fair Value
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,934,764)	$	100,558,593			39.88	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,012,500)		28,259,375			11.21	%
	Total U.S. Treasury Securities	$	128,817,968			51.09	%

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Notes to Financial Statements, Note 4.

The accompanying notes are an integral part of these consolidated financial statements.

61

Equinox Frontier Funds

Consolidated Condensed Schedule of Investments

December 31, 2014

Description		Value			% of Total Capital (Net Asset Value)
LONG FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	(4,211,885	)		-1.56	%
	Various base metals futures contracts (U.S.)		(61,850	)		-0.02	%
	Various currency futures contracts (U.S.)		300,870			0.11	%
	Various energy futures contracts (Europe)		(12,920	)		0.00	%
	Various energy futures contracts (Far East)		(2,738	)		0.00	%
	Various energy futures contracts (U.S.)		(24,310,145	)		-9.00	%
	Various interest rates futures contracts (Canada)		184,352			0.07	%
	Various interest rates futures contracts (Europe)		3,676,039			1.36	%
	Various interest rates futures contracts (Far East)		585,956			0.22	%
	Various interest rates futures contracts (Oceanic)		558,353			0.21	%
	Various interest rates futures contracts (U.S.)		278,768			0.10	%
	Various precious metal futures contracts (Far East)		6,195			0.00	%
	Various precious metal futures contracts (U.S.)		(113,453	)		-0.04	%
	Various soft futures contracts (Canada)		(1,360	)		0.00	%
	Various soft futures contracts (Europe)		33,841			0.01	%
	Various soft futures contracts (Oceanic)		(864	)		0.00	%
	Various soft futures contracts (U.S.)		(2,494,615	)		-0.92	%
	Various stock index futures contracts (Canada)		63,167			0.02	%
	Various stock index futures contracts (Europe)		569,188			0.21	%
	Various stock index futures contracts (Far East)		26,010			0.01	%
	Various stock index futures contracts (Oceanic)		44,530			0.02	%
	Various stock index futures contracts (U.S.)		1,412,847			0.52	%
	Total Long Futures Contracts	$	(23,469,714	)		-8.68	%
SHORT FUTURES CONTRACTS *
	Various base metals futures contracts (Europe)	$	3,745,111			1.39	%
	Various base metals futures contracts (U.S.)		101,600			0.04	%
	Various currency futures contracts (Far East)		(3,383	)		0.00	%
	Various currency futures contracts (U.S.)		2,737,797			1.01	%
	Various energy futures contracts (Europe)		49,517			0.02	%
	Various energy futures contracts (Far East)		5,389			0.00	%
	Various energy futures contracts (U.S.)		12,381,217			4.58	%
	Brent Crude Oil Last Day Settling 2/12/2015 (Number of Contracts: 229)		2,871,660			1.06	%
	Crude Oil Settling 12/1/2015 (Number of Contracts: 718)		11,036,122			4.08	%
	NYH RBOB Unleaded Gas Settling 12/30/2015 (Number of Contracts: 388)		4,267,957			1.58	%
	Various interest rates futures contracts (Canada)		6,583			0.00	%
	Various interest rates futures contracts (Europe)		(351,916	)		-0.13	%
	Various interest rates futures contracts (Far East)		(28,461	)		-0.01	%
	Various interest rates futures contracts (Oceanic)		(6,445	)		0.00	%
	Various interest rates futures contracts (U.S.)		(602,696	)		-0.22	%
	Various precious metal futures contracts (Far East)		(1,052	)		0.00	%
	Various precious metal futures contracts (U.S.)		275,350			0.10	%
	Various soft futures contracts (Canada)		(194	)		0.00	%
	Various soft futures contracts (Europe)		117,563			0.04	%
	Various soft futures contracts (Far East)		(4,709	)		0.00	%
	Various soft futures contracts (U.S.)		2,823,283			1.04	%
	Various stock index futures contracts (Africa)		(8,891	)		0.00	%
	Various stock index futures contracts (Europe)		(37,839	)		-0.01	%
	Various stock index futures contracts (Far East)		6,134			0.00	%
	Various stock index futures contracts (Mexico)		(4,380	)		0.00	%
	Various stock index futures contracts (Oceanic)		(9,866	)		0.00	%
	Various stock index futures contracts (U.S.)		(138,941	)		-0.05	%
	Total Short Futures Contracts	$	39,226,510			14.52	%
CURRENCY FORWARDS *
	Various currency forwards contracts (NA)	$	(932,374	)		-0.35	%
	Total Currency Forwards	$	(932,374	)		-0.35	%
	Total Open Trade Equity (Deficit)	$	14,824,422			5.49	%
OPTIONS PURCHASED *
	Various energy futures contracts (U.S.)	$	8,407,670			3.11	%
	Various soft futures contracts (U.S.)		379,800			0.14	%
	Various stock index futures contracts (U.S.)		288,413			0.11	%
	Total Options Purchased	$	9,075,883			3.36	%
OPTIONS WRITTEN *
	Various energy futures contracts (U.S.)	$	(8,234,010	)		-3.05	%
	Various soft futures contracts (U.S.)		(476,810	)		-0.18	%
	Various stock index futures contracts (U.S.)		(253,018	)		-0.09	%
	Total Options Written	$	(8,963,838	)		-3.32	%
SWAPS (1)
	Frontier XXXIV Balanced select swap (U.S.)	$	7,540,466			2.79	%
	Frontier Brevan Howard swap (U.S.)		18,246,952			6.75	%
	Frontier XXXV Diversified select swap (U.S.)		6,570,409			2.43	%
	Frontier XXXVII L/S select swap (U.S.)		3,633,060			1.34	%
	Total Swaps	$	35,990,887			13.31	%
U.S. TREASURY SECURITIES
FACE VALUE		Fair Value			Fair Value
$15,000,000	US Treasury Note 2.250% due 11/15/2024 (Cost $14,966,695)	$	15,101,953			5.59	%
$75,000,000	US Treasury Note 6.000% due 02/15/2026 (Cost $99,579,227)		95,954,688			35.51	%
$20,000,000	US Treasury Note 6.875% due 08/15/2025 (Cost $28,322,622)		28,896,875			10.69	%
	Total U.S. Treasury Securities	$	139,953,516			51.79	%

* Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

(1) See Notes to Financial Statements, Note 4.

The accompanying notes are an integral part of these consolidated financial statements.

62

Equinox Frontier Funds

Consolidated Statements of Operations

For the Three Months Ended June 30, 2015 and 2014

(Unaudited)

	2015			2014
Investment income:
Interest - net	$	274,961		$	261,329
Total Income		274,961			261,329
Expenses:
Incentive Fees		94,738			2,554,722
Management Fees		1,280,518			1,498,648
Service Fees - Class 1		1,129,839			1,065,882
Trading Fees		886,592			798,997
Total Expenses		3,391,687			5,918,249
Investment income/(loss) - net		(3,116,726	)		(5,656,920	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		(14,178,689	)		5,361,595
Net change in open trade equity/(deficit)		(3,193,895	)		5,985,923
Net realized gain/(loss) on swap contracts		—			—
Net unrealized gain/(loss) on swap contracts		(9,714,795	)		1,976,879
Net realized gain/(loss) on U.S. Treasury securities		588,474			(86,598	)
Net unrealized gain/(loss) on U.S. Treasury securities		(5,876,125	)		2,699,089
Trading commissions		(715,951	)		(850,912	)
Net gain/(loss) on investments		(33,090,981	)		15,085,976
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	$	(36,207,707	)	$	9,429,056

The accompanying notes are an integral part of these consolidated financial statements.

63

Equinox Frontier Funds

Consolidated Statements of Operations

For the Six Months Ended June 30, 2015 and 2014

(Unaudited)

	2015			2014
Investment income:
Interest - net	$	569,631		$	599,552
Total Income		569,631			599,552
Expenses:
Incentive Fees		4,997,512			3,552,049
Management Fees		2,569,188			3,128,333
Service Fees - Class 1		2,300,891			2,268,039
Trading Fees		1,807,859			1,704,117
Total Expenses		11,675,450			10,652,538
Investment income/(loss) - net		(11,105,819	)		(10,052,986	)
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on futures, forwards and options		25,808,976			5,513,099
Net change in open trade equity/(deficit)		(13,495,336	)		(5,042,030	)
Net realized gain/(loss) on swap contracts		—			—
Net unrealized gain/(loss) on swap contracts		1,229,375			(1,722,185	)
Net realized gain/(loss) on U.S. Treasury securities		588,474			(641,266	)
Net unrealized gain/(loss) on U.S. Treasury securities		(3,141,062	)		9,484,294
Trading commissions		(1,426,355	)		(1,904,552	)
Net gain/(loss) on investments		9,564,072			5,687,360
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	$	(1,541,747	)	$	(4,365,626	)

The accompanying notes are an integral part of these consolidated financial statements.

64

Equinox Frontier Funds

Consolidated Statement of Changes in Owners’ Capital

For the Six Months Ended June 30, 2015 (Unaudited)

	Managing Owner		Limited Owners			Total
Owners’ Capital, December 31, 2014	$	5,736,634	$	264,469,675		$	270,206,309
Sale of Units		—		9,776,731			9,776,731
Redemption of Units		—		(27,531,104	)		(27,531,104	)
Payment made by the Managing Owner		—		1,211,610			1,211,610
Net increase/(decrease) in Owners’
Capital resulting from operations		114,581		(1,656,328	)		(1,541,747	)
Owners’ Capital, June 30, 2015	$	5,851,215	$	246,270,584		$	252,121,799

The consolidated Trust is not unitized as are the individual Series of the Trust

The accompanying notes are an integral part of these consolidated financial statements.

65

Equinox Frontier Funds

Consolidated Statements of Cash Flows

For the Six Months Ended June 30, 2015 and 2014 (Unaudited)

	2015			2014
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	$	(1,541,747	)	$	(4,365,626	)
Adjustments to reconcile net increase/(decrease) in capital resulting from operations to net cash provided by (used in) operating activities:
Change in:
Net change in open trade equity		14,841,703			4,160,411
Net change in options purchased		5,256,454			(2,086,567	)
Net change in options written		(6,381,968	)		537,577
Net change in allocation of total return swaps		—			—
Net unrealized (gain)/loss on swap contracts		(1,229,376	)		1,722,185
Net realized (gain)/loss on swap contracts		—			—
Net unrealized (gain)/loss on U.S. Treasury securities		3,141,062			(9,484,294	)
Net realized (gain)/loss on U.S. Treasuries securities		(588,474	)		641,266
(Purchases) sales of:
Sales of swap contracts		—			—
(Purchases) of swap contracts		(1,000,000	)		—
Sales of U.S. Treasury securities		28,542,000			74,122,949
(Purchases) of U.S. Treasury securities		(21,196,875	)		—
U.S. Treasury interest and premium paid/amortized		1,237,835			—
Increase and/or decrease in:
Receivable from futures commission merchants		4,228,484			(272,327	)
Distributions from trading companies		—			—
Prepaid service fees		(13,875	)		10,115
Interest receivable		(56,879	)		444,476
Receivable from related parties		603			1,495
Other assets		500,000			48
Incentive fees payable to Managing Owner		(6,570,591	)		1,143,462
Management fees payable to Managing Owner		(34,993	)		(116,199	)
Interest payable to Managing Owner		4,855			(88,384	)
Trading fees payable to Managing Owner		(20,342	)		(84,734	)
Service fees payable to Managing Owner		(23,014	)		(95,091	)
Payables to related parties		14,464			11,796
Other liabilities		—			3,500
Net cash provided by (used in) operating activities		19,109,326			66,206,058
Cash Flows from Financing Activities:
Proceeds from sale of capital		9,776,731			6,227,081
Payment for redemption of capital		(27,531,104	)		(63,229,628	)
Payment made by the Managing Owner		1,211,610			—
Pending owner additions		(2,786	)		(6,430	)
Redemptions payable		(149,183	)		(640,243	)
Net cash provided by (used in) financing activities		(16,694,732	)		(57,649,220	)
Net increase (decrease) in cash and cash equivalents		2,414,594			8,556,838
Cash and cash equivalents, beginning of period		18,977,844			9,302,857
Cash and cash equivalents, end of period	$	21,392,438		$	17,859,695

The accompanying notes are an integral part of these consolidated financial statements.

66

Equinox Frontier Funds

Notes to Consolidated Financial Statements (Unaudited)

1. Organization and Purpose

Equinox Frontier Funds, which is referred to in this report as the “Trust”, was formed on August 8, 2003, as a Delaware statutory trust. The Trust is a multi-advisor commodity pool, as described in CFTC Regulation § 4.10(d)(2). The Trust has authority to issue separate Series of Units pursuant to the requirements of the Trust Act. The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act. It is managed by the Managing Owner.

Purchasers of Units are Limited Owners of the Trust with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as amended from time to time (the “Trust Agreement”), unitholders in a Delaware statutory trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of all Series.

The Trust has been organized to pool investor funds for the purpose of trading in the U.S. and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts (“Swaps”).

The Trust has seven (7) separate and distinct Series of Units issued and outstanding: Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund, and Equinox Frontier Heritage Fund. The Trust financial statements are comprised of unitized Series which are consolidated into the Trust financial statements. However, the consolidated Trust does not issue units.

The Trust, with respect to each Series:

• engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions;

• allocates funds to a Trading Company or Companies. Except as otherwise described in these notes, each Trading Company has one-year renewable contracts with its own independent commodity trading advisor(s), or each, a Trading Advisor, that will manage all or a portion of such Trading Company’s assets and make the trading decisions for the assets of each Series invested in such Trading Company. Each Trading Company will segregate its assets from any other Trading Company;

• maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series;

• calculates the NAV of its Units for each Series separately from the other Series;

• has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments;

• maintains each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 and Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the

67

Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and

• all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund or Equinox Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation set forth in Rule 2310 with respect to such Units has been reached or will be reached. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York.

The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, are maintained in the books and records of each Series.

As of June 30, 2015, the Trust, with respect to the Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Equinox Frontier Balanced Fund and the Equinox Frontier Long/Short Commodity Fund separates Units into a maximum of six separate Classes—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. It is expected that between 10% and 30% of each Series’ assets normally will be invested in one or more Trading Companies to be committed as margin for trading positions, but from time to time these percentages may be substantially more or less. The remainders of each Series’ assets are maintained at the Trust level for cash management. Each of the respective Series has invested monies into pooled cash management assets which have included purchases of U.S. Treasury Securities. Each Series’ ownership in these investments is based on its percentage ownership in the pooled cash management assets on the reporting date.

Each Series of the Trust may invest a portion of its assets in a single Trading Company or in several different Trading Companies and may have multiple Trading Advisors that manage the assets invested in such Trading Companies.

On November 26, 2014, the Trust’s portfolio management team approved an allocation change in an Emil Van Essen trading program that was not fully implemented as intended. As a result, certain series who invested in Emil Van Essen were not allocated sufficient gains and certain other series who invested in Emil Van Essen suffered greater losses. In January 2015, the Managing Owner determined to make a payment to the affected investors within the Equinox Frontier Balanced Fund, Equinox Frontier Diversified Fund and Equinox Frontier Long/Short Commodity Fund, in the aggregate amount of $1,211,610 to reimburse the effect of the missed gain or higher loss on such investors in the series, and such amount was recorded in the Statement of Changes in Owners’ Capital as Payment Made by the Managing Owner.

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith.

2. Significant Accounting Policies

The following are the significant accounting policies of the Trust.

Basis of Presentation—The Trust follows GAAP, as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

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Consolidation—Each Series of the Trust invests in Trading Companies who authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. The Trading Companies and Series of the Trust are consolidated by the Trust.

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates and such differences could be material.

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of three months or less. This cash is not restricted.

Interest Income—Aggregate interest income from all sources, including U.S. Treasury securities and assets held at FCMs, up to the first two percentage points or 20% of the aggregate percentage yield (annualized) is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Trust, and shown net on the consolidated statement of operations.

U.S. Treasury Securities—U.S. Treasury Securities are reported at fair value as Level 1 inputs under ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Trust values U.S. Treasury Securities at fair value and records the daily change in value in the consolidated statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the consolidated statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants—The Trust deposits assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust earns interest income on its assets deposited with the FCM.

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the consolidated statements of financial condition as a net unrealized gain or loss, as there exists a right of offset of unrealized gains or losses in accordance with FASB ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations.

Foreign Currency Transactions—The Series of the Trust’s functional currency is the U.S. dollar; however, they transact business in currencies other than the U.S. dollar. The Series of the Trust do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings—Each Series of the Trust may maintain three to six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Investments and Swaps—The Trust records investment transactions on a trade date basis and all investments are recorded at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value

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based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable, and quality control testing procedures in place.

Income Taxes—The Trust applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust’s financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust for the six months ended June 30, 2015. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust is treated as a partnership for Federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material Federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, Selling Agent Service fees and all other operating expenses and continuing offering costs of the Trust.

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to Selling Agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such Selling Agents.

These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in

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other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial position or results of operations.

Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

In February, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). ASU 2015-02 is effective for periods beginning after December 15, 2015. The adoption of ASU 2015-02 is not expected to have a material effect on the Trust’s consolidated financial statements. Early adoption is permitted. In May 2014 the FASB issued a final standard on revenue from contracts with customers. The standard, issued as FASB ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The ASU is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. A full retrospective or modified retrospective approach may be taken to adopt the guidance in the ASU. The Trust is currently evaluating the impact of the provisions of ASU 2014-09 on its consolidated financial position, results of operations and related disclosures.

Subsequent Events—The Trust follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued. No events or transactions requiring recognition or disclosure have been identified.

3. Fair Value Measurements

In connection with the valuation of investments the Trust applies ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements.

Level 1 Inputs

Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs

Inputs other than quoted prices included in Level 1 that are observable for the financial assets or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial assets or inputs that are derived principally from or corroborated by market data by correlation or other means.

Level 3 Inputs

Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset.

The Trust uses the following methodologies to value instruments within its financial asset portfolio at fair value:

Trading Securities. These instruments include U.S. Treasury securities and open trade equity positions (futures contracts) that are actively traded on public markets with quoted pricing for corroboration. U.S. Treasury securities and futures contracts are reported at fair value using Level 1 inputs. Trading securities instruments further include trading options and currency forwards that are quoted prices for identical or similar assets that are not traded on active markets. Trading options and currency forwards are reported at fair value using Level 2 inputs.

Swap Contracts. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment

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returns linked to those produced by one or more investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. The fair value is corroborated through the use of a third party pricing service (“pricing service”). The valuation of swap contracts requires significant estimates utilizing Level 3 Inputs corroborated by management through the use of the pricing service. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner through the valuation committee charted by the Executive Committee of the Trust, engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected; the components of the model, both observable and unobservable; and quality control testing procedures in place. The valuation committee meets on a monthly basis and as needed to discuss any updates or changes in the valuation process, reporting to the Executive Committee. The pricing service’s methodology includes performance of tolerance testing on its valuation models to ensure consistency and reasonableness of the values derived. The tolerance testing includes valuing the components of the product separately, i.e. underlying asset, volatility, financing rates, and so forth. The tolerance testing is part of the initial valuation setup and throughout the ongoing daily valuation process. The pricing service also has several layers of quality control including: engineering / reverse engineering process to understand each swap and its subcomponent parts fully; comparative analysis against other valuations performed with similar composition and characteristics; review of output valuation against expectations based on observable price movements of underlying futures; and lastly, periodic review by a senior financial engineer to ensure design and function of model is stable and perform as expected.

The Managing Owner has chartered a valuation committee to provide oversight of the valuation process for the Series. The valuation committee meets at least monthly to discuss the valuation process and any valuation issues that may arise. The valuation committee is comprised of senior members of the Managing Owner’s management team with varying areas of expertise that add value to the committee. The valuation committee reports to both the Managing Owner’s Management Committee and the Trust’s Executive Committee. The committee further remains in communication with the Managing Owner’s Due Diligence Committee that provides ongoing counterparty risk monitoring of the swap counterparties. The committee’s designee monitors daily pricing valuation provided by the swap counterparty and daily valuation provided by the third party pricing service to ensure the change in fair value is reasonable and valuations are in accordance with current regulations and best practices. The committee may request a price challenge if the daily valuation provided by the counterparty valuations differs significantly from the valuation obtained by the pricing service. The Managing Owner’s valuation committee monitors some additional input factors such as liquidity, volatility, and counterparty risk in order to further review the valuations provide by the pricing service.

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The following table summarizes the instruments that comprise the Trust’s financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	70,482	$	(87,763	)	$	—	$	(17,281	)
Swap Contracts		—		—			38,220,263		38,220,263
U.S. Treasury Securities		128,817,968		—			—		128,817,968
Purchased Options		—		3,819,429			—		3,819,429
Written Options		—		(2,581,870	)		—		(2,581,870	)
December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	15,756,796	$	(932,374	)	$	—	$	14,824,422
Swap Contracts		—		—			35,990,887		35,990,887
U.S. Treasury Securities		139,953,516		—			—		139,953,516
Purchased Options		—		9,075,883			—		9,075,883
Written Options		—		(8,963,838	)		—		(8,963,838	)

The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net realized and net unrealized gain/(loss) on swap contracts” on the statements of operations.

	For the Six Months Ended June 30, 2015
Balance of recurring Level 3 assets as of January 1, 2015	$	35,990,887
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		1,229,376
Purchases of investments		1,000,000
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	38,220,263
	For the Year Ended December 31, 2014
Balance of recurring Level 3 assets as of January 1, 2014	$	21,455,529
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		14,535,358
Purchases of investments		—
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	35,990,887

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The Trust assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Trust’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six months ended June 30, 2015 and the year ended December 31, 2014, the Trust did not transfer any assets between Levels 1, 2 and 3.

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

Swaps $ 1,229,375

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

Swaps $ 14,535,358

4. Swaps

In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return swaps, selected at the direction of the Managing Owner. Total Return Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical Total Return Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities.

The Trust’s investment in Swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The Swaps serve to diversify the investment holdings of the Trust and to provide access to programs and advisors that would not be otherwise available to the Trust, and are not used for hedging purposes.

The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As of June 30, 2015 and December 31, 2014, approximately 14.9% or $38,220,263 and 12.5% or $35,990,887, respectively, of the Trust’s assets were invested with over-the-counter counterparties in order to initiate and maintain Swaps and is recorded as Swap Contracts, at fair value on the Statements of Financial Condition of the Trust. This cash held with the counterparty is not restricted.

The Trust strategically invests assets in one or more Swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of the Trust will be invested will not own any of the investments or indices referenced by any Swap entered into by the Trust. In addition, neither the Swap counterparty nor any advisor referenced by any such Swap is a Trading Advisor to the Trust.

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The Trust had invested in the following swaps as of and for the six months ended June 30, 2015:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	15,663,283	$	62,910,098	$	30,500,000	$	10,090,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,816,251	$	8,891,634	$	4,215,169	$	424,209
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	268,786	$	244,680	$	1,044,760	($	328,851	)
Fair Value as of 6/30/2015	$	7,809,251	$	18,491,634	$	7,615,169	$	4,304,209

The Trust had invested in the following swaps as of and for the year ended December 31, 2014:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	17,663,283	$	67,610,098	$	35,500,000	$	13,590,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,547,466	$	8,646,955	$	3,170,409	($	246,940	)
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Unrealized Gain/(Loss)	$	2,105,281	$	8,120,996	$	3,132,777	$	1,176,514
Fair Value as of 12/31/2014	$	7,540,466	$	18,246,955	$	6,570,409	$	3,633,060

5. Transactions with Affiliates

The Managing Owner contributes funds to the Trust in order to have a 1% interest in the aggregate capital, profits and losses and in return will receive units designated as general units in the Series of the Trust in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or management advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner is required to maintain at least a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of the Trust so long as it is acting as the Managing Owner of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Equinox Frontier Balanced Fund Class 1a Units and Equinox Frontier Balanced Fund Class 2a Units, aggregated, and each of the Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund. The 1% interest in these specific Series of the Trust is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, as well. All units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates.

Expenses

Management Fees—Each Series of Units pays to the Managing Owner a monthly management fee equal to a percentage of the nominal assets of such Series, calculated on a daily basis. The total amount of assets of a series allocated to trading advisors and/or

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reference programs, including (i) actual funds deposited in accounts directed by the trading advisors or deposited as margin in respect of swaps or other derivative instruments referencing a reference program plus (ii) any notional equity allocated to the trading advisors and any reference programs, is referred to herein as the “nominal assets” of the series. The annual rate of the management fee is: 0.5% for the Equinox Frontier Balanced Fund Class 1, Class 2 and Class 3, 1.0% for the Equinox Frontier Balanced Fund Class 1a, Class 2a and Class 3a, 2.0% for the Equinox Frontier Winton Fund, Equinox Frontier Long/Short Commodity Fund Class 1a, Class 2a and Class 3a and Equinox Frontier Masters Fund, 0.75% for Equinox Frontier Diversified Fund, 2.5% for the Equinox Frontier Heritage Fund and Equinox Frontier Select Fund, and 3.5% for the Equinox Frontier Long/Short Commodity Fund Class 1, Class 2 and Class 3. The Managing Owner may pay all or a portion of such management fees to the Trading Advisor(s) and/or waive (up to the percentage specified) any such management fee to the extent any related management fee is paid by a trading company or estimated management fee is embedded in a swap or other derivative instrument. Any management fee embedded in a swap or other derivative instrument may be greater or less than the management fee that would otherwise be charged to the series by the Managing Owner. As of the date of this Form 10-Q, the trading advisor for a series that has invested in a swap has not received any management fees directly from the series for such swap, and instead the relevant trading advisor receives compensation via the fees embedded in the swap.

The management fee as a percentage of the applicable series’ net asset value will be greater than the percentage indicated above to the extent that the nominal assets of the series exceeds its net asset value. The managing owner expects that the nominal assets of each series will generally be maintained at a level in excess of the net asset value of such series and such excess may be substantial to the extent the managing owner deems necessary to achieve the desired level of volatility.

Trading Fees—In connection with each Series’ trading activities of the Trust, the Equinox Frontier Long/Short Commodity Fund (Classes 1, 2 and 3), Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund pays to the Managing Owner a trading fee, or FCM Fee, of up to 0.75% of such Series’ NAV, calculated daily. The Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund (Classes 1a and 2a) and Equinox Frontier Masters Fund pays to the Managing Owner a trading fee, or FCM Fee, of up to 2.25% and a custodial/due diligence fee of 0.12% of such Series’ NAV, calculated daily.

Incentive Fees—Some Series of the Trust pay to the Managing Owner an incentive fee of a certain percentage of new net trading profits generated by such Series, monthly or quarterly. Because the Equinox Frontier Balanced Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, and Equinox Frontier Long/Short Commodity Fund may each employ multiple Trading Advisors, these Series will pay the Managing Owner a monthly incentive fee calculated on a Trading Advisor by Trading Advisor basis. It is therefore possible that in any given period the Series may pay incentive fees to the Managing Owner for one or more Trading Advisors while each of these Series as a whole experiences losses. The incentive fee is 25% for the Equinox Frontier Balanced Fund and the Equinox Frontier Diversified Fund and 20% for the Equinox Frontier Winton Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, Equinox Frontier Long/Short Commodity Fund and Equinox Frontier Masters Fund. The Managing Owner may pay all or a portion of such incentive fees to the Trading Advisor(s) for such Series.

Service Fees—In addition, with respect to Class 1 and Class 1a Units of each Series of the Trust, as applicable, the Series pays monthly or quarterly to the Managing Owner a service fee of up to 3% annually, which the Managing Owner pays to selling agents of the Trust.

As of June 30, 2015, the Trust has a payable to the Managing Owner in the amounts of $94,737, $433,161, $207,941, $304,512 and $313,101 for incentive fees, management fees, interest, trading fees, and service fees, respectively.

As of December 31, 2014, the Trust has a payable to the Managing Owner in the amounts of $6,665,328, $468,154, $203,086, $324,854, and $336,115 for incentive fees, management fees, interest, trading fees, and service fees, respectively.

For the three months ended June 30, 2015, the Trust paid the Managing Owner $94,738, $1,280,518, $1,129,839 and $886,592 for incentive fees, management fees, service fees, and trading fees, respectively.

For the three months ended June 30, 2014, the Trust paid the Managing Owner $2,554,722, $1,498,648, $1,065,882 and $798,997 for incentive fees, management fees, service fees, and trading fees, respectively.

For the six months ended June 30, 2015, the Trust paid the Managing Owner $4,997,512, $2,569,188, $2,300,891 and $1,807,859 for incentive fees, management fees, service fees, and trading fees, respectively.

For the six months ended June 30, 2014, the Trust paid the Managing Owner $3,552,049, $3,128,333, $2,268,039, and $1,704,117 for incentive fees, management fees, service fees, and trading fees, respectively.

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With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. For the three months ended June 30, 2015 and 2014 amounts received or receivable from the Managing Owner for the difference in monthly service fees from the prepaid initial service fees were $14,977 and ($7,682), respectively.

Aggregate interest income from all sources, including assets held at clearing brokers, up to 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1 and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund, and Equinox Frontier Balanced Fund (Class 1a and Class 2a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. During the three months ended June 30, 2015 and 2014, the Trust paid $593,987 and $579,315, respectively, and $1,197,024 and $1,277,706 for the six months ended June 30, 2015 and 2014, respectively of such interest income to the Managing Owner. Such amounts are not included in the consolidated statements of operations of the Trust. All other interest income is recorded by the Trust on the consolidated statements of operations.

The Managing Owner, under an amended contract, paid to The Bornhoft Group Corporation, an affiliate of the Trust, an annual payment of $1,100,000 for the first year of the contract and $600,000 for the second year of the contract, and $300,000 for the third and final year for investment and advisor services and 0.1% annually thereafter of the trading level with the Equinox Frontier Balanced Fund in lieu of a monthly service fee. The Managing Owner paid $139,848 and $221,095, respectively under this agreement for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements. This contract ended April 30, 2015.

Equinox Financial Group, LLC, an affiliate of the Trust, provides management services for the Managing Owner who paid $730,000 and $241,667, respectively, for the six months ended June 30, 2015 and 2014, and $425,000 and $91,667 for the three months ended June 30, 2014, respectively. These amounts have no impact on the Series’ financial statements.

Solon Capital, LLC, an affiliate of the Trust, provides product development and marketing services. For these services, the Managing Owner paid Solon Capital, LLC, $623,715 and $581,681, respectively, for the six months ended June 30, 2015 and 2014 and $307,442 and $272,694 for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements.

Equinox Group Distributors LLC, an affiliate under common control of the Managing Owner, serves as wholesaler of the Trust by marketing to broker/dealer organizations.

6. Financial Highlights

The following information presents the financial highlights of the Trust for the three and six months ended June 30, 2015 and 2014. This data has been derived from the information presented in the consolidated financial statements.

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Three months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-4.48	%		-6.06	%
Expenses before incentive fees (3)		4.85	%		5.45	%
Expenses after incentive fees (3)		4.89	%		6.49	%
Total return before incentive fees (2)		-13.25	%		4.84	%
Total return after incentive fees (2)		-13.28	%		3.81	%
Six months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-6.37	%		-6.28	%
Expenses before incentive fees (3)		4.95	%		5.40	%
Expenses after incentive fees (3)		6.79	%		6.74	%
Total return before incentive fees (2)		1.27	%		-0.31	%
Total return after incentive fees (2)		-0.57	%		-1.65	%

(1) Annualized with the exception of incentive fees.

(2) Total returns are not annualized.

(3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5.

The Trust financial highlights are calculated based upon the Trust’s consolidated financial statements. The consolidated Trust does not issue units and therefore the financial highlights do not disclose any unitized data.

7. Derivative Instruments and Hedging Activities

The Trust’s primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts). The Trust does not enter into or hold positions for hedging purposes as defined under ASC 815. The detail of the fair value of the Trust’s derivatives by instrument types as of June 30, 2015 and December 31, 2014 is included in the Consolidated Condensed Schedules of Investments. See Note 4 for further disclosure related to the Trust’s positions in swap contracts.

For the three and six months ended June 30, 2015 and 2014, the monthly average of futures contracts bought was approximately 10,232 and 9,319, respectively and sold was approximately 10,304 and 9,124, respectively.

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The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	787,054
Currencies		322,356
Energies		3,239,657
Agriculturals		250,296
Interest rates		(4,205,211	)
Stock indices		(3,588,047	)
Change in unrealized trading income/(loss)(1)	$	(3,193,895	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	891,238
Currencies		(2,005,957	)
Energies		(4,686,989	)
Agriculturals		438,060
Interest rates		(4,395,416	)
Stock indices		(3,736,272	)
Change in unrealized trading income/(loss)(1)	$	(13,495,336	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	(1,671,013	)
Currencies		(5,995,199	)
Energies		(6,800,965	)
Agriculturals		66,907
Interest rates		(1,770,084	)
Stock indices		1,991,665
Realized trading income/(loss)(1)	$	(14,178,689	)

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	(3,529,813	)
Currencies		4,134,192
Energies		4,751,972
Agriculturals		(81,778	)
Interest rates		8,150,824
Stock indices		12,383,579
Realized trading income/(loss)(1)	$	25,808,976

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

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Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	1,029,170
Currencies		450,876
Energies		300,637
Agriculturals		749,674
Interest rates		4,544,705
Stock indices		(1,089,139	)
Change in unrealized trading income/(loss)(1)	$	5,985,923
Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(947,051	)
Currencies		(3,956,074	)
Energies		1,967,434
Agriculturals		(471,767	)
Interest rates		4,765,842
Stock indices		(6,400,414	)
Change in unrealized trading income/(loss)(1)	$	(5,042,030	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	(2,663,349	)
Currencies		(786,959	)
Energies		(234,908	)
Agriculturals		(1,684,548	)
Interest rates		4,682,671
Stock indices		6,048,688
Realized trading income/(loss)(1)	$	5,361,595
Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(3,401,979	)
Currencies		(441,730	)
Energies		(1,894,183	)
Agriculturals		(1,738,025	)
Interest rates		7,301,379
Stock indices		5,687,637
Realized trading income/(loss)(1)	$	5,513,099

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Trust’s open trade equity/(deficit), options written, and receivables from FCMs are subject to master netting arrangements and collateral arrangements and meet the GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Trust’s policy is to recognize amounts subject to master netting arrangements on a net basis on the consolidated statements of financial condition.

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The following tables present gross and net information about the Trust’s assets and liabilities subject the master netting arrangements as disclosed on the consolidated statements of financial condition as of June 30, 2015 and December 31, 2014:

Offsetting of Derivative Assets and Liabilities

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	—	$	(17,281	)	$	(17,281	)
Options Purchased		3,819,429		—			3,819,429
Options Written		—		(2,581,870	)		(2,581,870	)
Swap Contracts		38,220,263		—			38,220,263

Offsetting of Derivative Assets and Liabilities

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	17,120,111	$	(2,295,689	)	$	14,824,422
Options Purchased		9,075,883		—			9,075,883
Options Written		—		(8,963,838	)		(8,963,838	)
Swap Contracts		35,990,887		—			35,990,887

8. Trading Activities and Related Risks

The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited.

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time.

In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the United States and on most foreign exchanges is

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the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company.

The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

9. Indemnifications and Guarantees

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Trust up to the amount of equity at risk with UBS. The Trust has not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote.

The Trust has guaranteed the obligations of the trading companies under the customer agreements with UBS Securities LLC as Clearing Broker. In the event that one Series of the Trust is unable to meet its obligations to UBS Securities LLC, the assets of the other Series will be available to UBS Securities LLC as part of the guarantee, but only to the extent of such Series’ pro rata allocation to the trading company. The Trust has not recorded any liability for the indemnifications in the accompanying financial statements as it expects any possibility of losses to be remote.

10. Subsequent Events

None.

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Introduction

The following discussion and tables should be read in conjunction with our unaudited consolidated financial statements and notes thereto included in this quarterly report and our 2014 Annual Report on Form 10-K for the year ended December 31, 2014.

Overview

The Trust is a Delaware statutory trust formed on August 8, 2003. The Trust is a multi-advisor commodity pool, as described in CFTC Regulation § 4.10(d)(2). The Trust is authorized to issue multiple Series of Units, pursuant to the requirements of the Trust Act. The assets of each Series are held and accounted for in separate and distinct records separately from the assets of other Series. The Trust is managed by the Managing Owner, and its term will expire on December 31, 2053 (unless terminated earlier in certain circumstances).

The Trust, with respect to each Series of Units, engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including Swaps). The Trust allocates funds to affiliated Trading Companies, each of which has one-year renewable contracts with its own independent Trading Advisor(s) that will manage all or a portion of the applicable Trading Company’s assets, and make the trading decisions for the assets of each Series vested in such Trading Company. In November 2010, the Equinox Frontier Select Fund invested a portion of its assets in an unaffiliated Trading Company, Berkeley Quantitative Colorado Fund LLC which was liquidated on March 16, 2012. The assets of each Trading Company will be segregated from the assets of each other Trading Company. The Trust has an investment objective of increasing the value of the Units over the long term (capital appreciation), while controlling risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments (currencies). For additional overview of the Trust’s structure and business activities, see Item 1. “BUSINESS.”

Critical Accounting Policies and Estimates

The preparation of financial statements in conformity with GAAP requires the Managing Owner to adopt accounting policies and make estimates and assumptions that affect amounts reported in the Trust’s financial statements. The Trust’s most significant accounting policy, described below, includes the valuation of its futures and forward contracts, options contracts, swap contracts, U.S. treasury securities and investments in unconsolidated Trading Companies upon exchange settlement prices or non-exchange traded contracts and obligations with valuation based on third-party quoted dealer values on the Interbank market.

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The Trust’s other significant accounting policies are described in detail in Note 2 of the financial statements.

Investment Transactions and Valuation

The Managing Owner has evaluated the nature and type of transactions processed and estimates that it makes in preparing the Trust’s financial statements and related disclosures and has adopted Accounting Standard Codification ( “ASC”) 820, Fair Value Measurements and Disclosure, and implemented the framework for measuring fair value for assets and liabilities.

The Trust utilizes valuation techniques that are consistent with the market approach per the requirement of ASC 820 for the valuation of futures (exchange traded) contracts, forward (non-exchange traded) contracts, option contracts, swap contracts and other non-cash assets. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The Trust applies the valuation techniques in a consistent manner for each asset or liability. The Trust records all investments at fair value in its Statements of Financial Condition, with changes in fair value reported as a component of net gain/(loss) on investments in the Statements of Operations.

Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the assets or liabilities. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the financial asset or liability based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the financial asset or liability based on the best information available in the circumstances.

In addition, the Trust monitors counterparty credit risk and incorporates any identified risk factors when assigning input levels to underlying financial assets or liabilities. In that regard ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical financial assets and the lowest priority to unobservable inputs. A full disclosure of the fair value hierarchy is presented in Note 3 of the financial statements—Fair Value Measurements.

Selection and Replacement of Trading Advisors

The managing owner is responsible for the selection, retention and termination of the trading advisors and reference programs on behalf of each series. The actual allocation among trading advisors for each series will vary based upon the relative trading performance of the trading advisors and/or reference programs, and the managing owner may otherwise vary such percentages from time to time in its sole discretion. The managing owner will adjust its allocations and rebalance the portfolio of any series among trading advisors to maintain weightings that it believes will most likely achieve capital growth within the investment guidelines of the relevant series.

The managing owner utilizes certain quantitative and qualitative analysis in connection with the identification, evaluation and selection of the trading advisors. The managing owner’s proprietary and commercial analytical software programs and comprehensive trading advisor database provide the quantitative basis for the trading advisor selection, portfolio implementation process, and ongoing risk management, monitoring, and review.

In 1983, Richard Bornhoft, the Chief Investment Officer of the managing owner, began compiling a proprietary database of the leading United States and internationally based alternative investment programs. Trading advisors are monitored and performance data is entered on a daily, monthly, quarterly or bi-annual basis according to internal ranking systems.

The managing owner’s research department is continually refining ways to assimilate vast amounts of trading advisor performance data and due-diligence information. The proprietary and commercial database of alternative investment programs is always increasing. Research team members regularly interact with trading advisors throughout the due diligence and monitoring process. Only those programs that have met strict quantitative and qualitative review are considered as potential managers of client assets.

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Following is a summary of the quantitative and qualitative analysis:

Quantitative Analysis

The managing owner’s analytical software system applies a variety of statistical measures towards the evaluation of current and historical advisor performance data. Statistical measures include but are not limited to: (1) risk/reward analysis, (2) time window analysis, (3) risk analysis, (4) correlation analysis, (5) statistical overlays and (6) performance cycle analysis.

Qualitative Analysis

Although quantitative analysis statistically identifies the top performing trading advisors, qualitative analysis plays a major role in the trading advisor evaluation and final selection process. Each trading advisor in the managing owner’s top decile universe initially undergoes extensive qualitative review by the managing owner’s research department, as well as continual monitoring. This analysis generally includes, but is not limited to: (1) preliminary information and due diligence, (2) background review, (3) onsite due diligence, (4) extensive due diligence questionnaires and (5) written review and periodic updates. This information allows a thorough review of each trading advisor’s trading philosophy, trading systems and corporate structure.

Multi-Manager Approach

A multi-manager approach to portfolio management provides diversification of trading advisors and access to broader global markets. Multiple trading advisors can provide diversification across trading methodologies, trading time horizons, and markets traded. Additionally, multi-manager portfolios tend to provide a greater level of professional management with ongoing risk management and review. The result can be more consistent returns with lower volatility.

The trading system of each of the major commodity trading advisors used by the Trading Companies is as follows:

Major Commodity Trading Advisor	Trading System Style
Abraham Trading Company	Systematic
BH-DG Systematic Trading LLP	Systematic
Brandywine Asset Management	Discretionary
Campbell & Company, Inc.	Systematic
Cantab Capital Partners LLP	Systematic
Chesapeake Capital Corporation	Systematic
Commodity Strategies AG	Systematic
Crabel Capital Management, LLC	Systematic
Emil Van Essen, LLC	Discretionary
Fort, L.P.	Systematic
H2O Asset Management	Systematic
J E Moody & Company	Systematic
Quantica Capital AG	Systematic
Quantitative Investment Management, LLC	Systematic
QuantMetrics Capital Management LLP	Systematic
Quest Partners LLC	Systematic
Red Oak Commodity Advisors, Inc.	Discretionary
Rosetta Capital Management, LLC	Discretionary
Skyline Management, Inc.	Discretionary
Systematic Alpha	Systematic
Tarpon Trading	Systematic
Tiverton Trading	Discretionary
Transtrend B.V.	Systematic
Winton Capital Management Ltd.	Systematic

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As of June 30, 2015, the allocation of the assets of each applicable Series of the Trust among the Trading Advisors was as follows:

	Allocation as of June 30, 2015 (expressed as a percentage of aggregate notional exposure to commodity trading programs)
Advisor	Equinox Frontier Diversified Fund			Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Masters Fund			Equinox Frontier Balanced Fund			Equinox Frontier Select Fund			Equinox Frontier Winton Fund			Equinox Frontier Heritage Fund
Abraham Trading Company		—			19	%		—			—			—			—			—
Brandywine Asset Management		—			—			—			5	%		—			—			—
BH-DG Systematic Trading LLP		7	%		—			—			—			43	%		—			48	%
Campbell &Company Inc.		—			—			—			7	%		—			—			—
Cantab Capital Partners LLP		—			—			—			8	%		—			—			—
Chesapeake Capital Corporation		10	%		—			27	%		—			—			—			—
Commodity Strategies AG		—			—			—			—			—			—			—
Crabel Capital Management, LLC		7	%		—			—			6	%		—			—			—
Emil Van Essen, LLC		7	%		17	%		20	%		5	%		—			—			—
Fort, L.P.		11	%		—			—			11	%		—			—			—
H2O Asset Management		8	%		—			—			9	%		—			—			—
J E Moody & Company		—			16	%		—			—			—			—			—
Quantica Capital AG		—			—			—			7	%		—			—			—
Quantitative Investment Management, LLC		10	%		—			—			9	%		—			—			—
QuantMetrics Capital Management LLP		15	%		—			—			9	%		—			—			—
Quest Partners LLC		11	%		—			—			—			—			—			—
Red Oak Commodity Advisors, Inc.		—			24	%		—			—			—			—			—
Rosetta Capital Management, LLC		—			20	%		—			—			—			—			—
Skyline Management, Inc.		—			—			—			—			—			—			—
Systematic Alpha		—			—			—			6	%		—			—			—
Tarpon Trading LLC		—			—			—			—			—			—			—
Tiverton Trading		—			—			—			—			—			—			—
Transtrend B.V.		—			—			25	%		—			57	%		—			—
Winton Capital Management Ltd.		10	%		—			28	%		8	%		—			100	%		52	%

Liquidity and Capital Resources

The Trust will raise additional capital only through the sale of Units offered pursuant to the continuing offering, and does not intend to raise any capital through borrowing. Due to the nature of the Trust’s business, it makes no capital expenditures and has no capital assets that are not operating capital or assets.

The Managing Owner is responsible for the payment of all of the ordinary expenses associated with the organization of the Trust and the offering of each Series of Units, except for the initial and ongoing service fee, if any, and no Series will be required to reimburse these expenses. As a result, 100% of each Series’ offering proceeds are initially available for that Series’ trading activities.

A portion of each Trading Company’s assets is used as margin to maintain that Trading Company’s forward currency contract positions, and another portion is deposited in cash in segregated accounts in the name of each Trading Company maintained for each Trading Company at the clearing brokers in accordance with CFTC segregation requirements. At June 30, 2015, cash deposited at the clearing brokers was $61,682,864 for the Trust. The clearing brokers are expected to credit each Trading Company with approximately 80%-100% of the interest earned on its average net assets on deposit with the clearing brokers each month. Currently, with the Federal Funds target rate at 0.00% to 0.25%, this amount is estimated to be 0.00%. In an attempt to increase interest income earned, the Managing Owner also may invest the non-margin assets in U.S. government securities which include any security issued or guaranteed as to principal or interest by the U.S., or by a person controlled by or supervised by and acting as an instrumentality of the government of the U.S. pursuant to authority granted by Congress or any certificate of deposit for any of the foregoing, including U.S. treasury bonds, U.S. treasury bills and issues of agencies of the U.S. government, and certain cash items such as money market funds and time deposits. Aggregate interest income from all sources, including assets held at clearing brokers, of up to 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1 and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund. For the Equinox Frontier Balanced Fund (Class 1a and Class 2a only), and the Equinox Frontier Long/Short Commodity Fund, 20% of the total interest allocated to each Series is paid to the Managing Owner. The amounts reflected in the financial statements for the Trust and Series are disclosed on a net basis. Due to some classes not exceeding the 2% paid to the Managing Owner, amounts earned by those classes may be zero.

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Approximately 10% to 30% of the Trust’s assets are expected to be committed as required margin for futures contracts and forwards and options trading and held by the respective broker, although the amount committed may vary significantly. Such assets are maintained in the form of cash or U.S. treasury bills in segregated accounts with the futures broker pursuant to the Commodity Exchange Act and regulations there under. Approximately 2% to 6% of the Trust’s assets are expected to be deposited with over-the-counter counterparties in order to initiate and maintain forward and swap contracts. Such assets are not held in segregation or otherwise regulated under the Commodity Exchange Act, unless such over-the-counter counterparty is registered as a futures commission merchant. These assets are held either in U.S. government securities or short-term time deposits with U.S.-regulated bank affiliates of the over-the-counter counterparties. The remaining approximately 64% to 88% of the Trust’s assets will normally be invested in cash equivalents and short-term investments, such as money market funds and time deposits and held by the clearing broker, the over-the-counter counterparties and by U.S. federally chartered banks. As of June 30, 2015, total cash and cash equivalents held at banking institutions were $4,827,779 for the Equinox Frontier Diversified Fund, $1,119,846 for the Equinox Frontier Long/Short Commodity Fund, $1,978,484 for the Equinox Frontier Masters Fund, $7,863,320 for the Equinox Frontier Balanced Fund, $401,143 for the Equinox Frontier Select Fund, $4,254,223 for the Equinox Frontier Winton Fund, and $947,643 for the Equinox Frontier Heritage Fund.

As a commodity pool, the Registrant has large cash positions. Such cash positions are used to pay margin for the trading of futures, forwards and options, and also to pay redemptions. Generally, the Registrant has not been forced to liquidate positions to fund redemptions. During the six months ended June 30, 2015, the Registrant was able to pay all redemptions.

Off-Balance Sheet Risk

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in future obligation or loss. Each Trading Company trades in futures, forward and swap contracts and is therefore a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures interests positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner seeks to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time.

In addition to market risk, trading futures, forward and swap contracts entails credit risk which is the risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the U.S. and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

In the case of forward contracts and swaps traded on the interbank market, neither is traded on an exchange. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus, there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company are valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company.

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote.

Disclosure of Contractual Obligations

The business of the Trust is the speculative trading of commodity interests. The majority of the Trust’s futures and forward positions, which may be categorized as “purchase obligations” under Item 303 of Regulation S-K, are short-term. That is, they are held for less

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than one year. Because the Trust does not enter into other long-term debt obligations, capital lease obligations, operating lease obligations or other long-term liabilities that would otherwise be reflected on the Trust’s Statement of Financial Condition, a table of contractual obligations has not been presented.

Results of Operations

Series Returns and Other Information

The returns for each Series and Class of Units for the three and six months ended June 30, 2015 and 2014, and related information, are discussed below. The activities of the Trust on a consolidated basis are explained through the activity of the underlying Series. Please refer to the discussion of the Series activities in relation to the Trust on a consolidated basis.

Each Series had exposure to commodity interest positions within one or more sectors during the three and six months ended June 30, 2015 and 2014. The performance of each Series was impacted over the course of the periods by, among other things, the relative performance of the relevant sector or sectors and the commodities within those sectors, the changing allocations among, and the specific positions taken by the Series’ Trading Advisors in, the relevant sector(s) and commodities, and the timing of entries and exits. For certain of the Series, a sector attribution chart has been included at the end of the relevant discussion. Each chart depicts the performance of the relevant Series’ positions within each of the relevant sectors (determined by the Managing Owner using monthly gross return and NAV figures, with various adjustments to net out a proportional allocation of the fees and expenses chargeable to the Series) during the periods presented.

Three Months Ended June 30, 2015 Compared to Three Months Ended June 30, 2014.

Equinox Frontier Diversified Fund

The Equinox Frontier Diversified Fund— Class 1 NAV lost 12.24% and gained 4.83%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Diversified Fund—Class 2 NAV lost 11.85% and gained 5.29%, respectively for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Diversified Fund—Class 3 NAV lost 11.79% and gained 5.37%, respectively for the three months ended June 30, 2015 and 2014.

For the three months ended June 30, 2015, the Equinox Frontier Diversified Fund recorded net loss on investments of $7,276,498, net investment income of $155,143, and total expenses of $706,350 resulting in a net decrease in Owners’ capital from operations of $7,505,363, after non-controlling interests of $322,342. For the three months ended June 30, 2014, the Equinox Frontier Diversified Fund recorded net gain on investments of $4,070,103, net investment income of $135,499, and total expenses of $1,658,328 resulting in a net increase in Owner’s Capital from operations of $2,547,274.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Diversified Fund.”

Equinox Frontier Masters Fund

The Equinox Frontier Masters Fund—Class 1 NAV lost 14.31% and gained 6.49% for the three months ended June 30, 2015 and 2014 net of fees and expenses; the Equinox Frontier Masters Fund —Class 2 NAV lost 13.93% and gained 6.96% for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Masters Fund—Class 3 NAV lost 13.88% and gained 7.03% for the three months ended June 30, 2015 and 2014, net of fees and expenses.

For the three months ended June 30, 2015, the Equinox Frontier Masters Fund recorded net loss on investments of $3,430,447, net investment income of $68,655, and total expenses of $432,082, resulting in a net decrease in Owners’ capital from operations of $3,793,874. For the three months ended June 30, 2014, the Equinox Frontier Masters Fund recorded net gain on investments of $2,119,822, net investment income of $71,429, and total expenses of $621,832, resulting in a net increase in Owners’ capital from operations of $1,569,419.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014—Equinox Frontier Masters Fund.”

Equinox Frontier Long/Short Commodity Fund

The Equinox Frontier Long/Short Commodity Fund—Class 2 NAV lost 10.75% and gained 0.62%, respectively, for the three months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 3 NAV lost 10.76% and gained 0.62%, respectively for the three months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 1a NAV lost 11.22% and gained 0.41%, respectively, for the three months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 2a NAV lost 10.83% and gained 0.85%, respectively, for the three months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund Class 3a NAV lost 10.78% and gained 0.91%, respectively, for the three months ended June 30, 2015, net of fees and expenses.

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For the three months ended June 30, 2015, the Equinox Frontier Long/Short Commodity Fund recorded net loss on investments of $1,822,067, net investment income of $43,133, and total expenses of $266,165, resulting in a net increase in Owners’ capital from operations of $2,045,099. For the three months ended June 30, 2014, the Equinox Frontier Long/Short Commodity Fund recorded net gain on investments of $1,521,079, net investment income of $47,605, and total expenses of $317,381, resulting in a net increase in Owners’ capital from operations of $111,679, after non-controlling interests of $1,139,624.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Long/Short Commodity Fund.”

Equinox Frontier Balanced Fund

The Equinox Frontier Balanced Fund—Class 1 NAV lost 11.41% and gained 1.83%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2 NAV lost 10.74% and gained 2.61%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2a NAV lost 10.53% and gained 2.87%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 3a NAV lost 10.53% and gained 2.87%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 1AP NAV lost 10.74% for the three months ended June 30, 2015, net of fees and expenses.

For the three months ended June 30, 2015, the Equinox Frontier Balanced Fund recorded net loss on investments of $11,603,125, net investment income of $8,003, and total expenses of $1,027,119, resulting in a net decrease in Owners’ capital from operations of $12,148,245, after non-controlling interests of $473,996 For the three months ended June 30, 2014, the Equinox Frontier Balanced Fund recorded net gain on investments of $6,379,507, net investment income of $6,543, and total expenses of $1,826,219, resulting in a net increase in Owners’ capital from operations of $1,705,510, after non-controlling interests of $2,854,321.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Balanced Fund.”

Equinox Frontier Select Fund

The Equinox Frontier Select Fund—Class 1 NAV lost 17.76% and gained 4.29%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Select Fund —Class 2 NAV lost 17.14% and gained 5.08% respectively for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Select Fund —Class 1AP NAV lost 17.15% for the three months ended June 30, 2015.

For the three months ended June 30, 2015, the Equinox Frontier Select Fund recorded net loss on investments of $4,071,121, net investment income of $0, and total expenses of $208,627, resulting in a net decrease in Owners’ capital from operations of $2,913,178, after non-controlling interests of $1,366,570. For the three months ended June 30, 2014, the Equinox Frontier Select Fund recorded net gain on investments of $902,903, net investment income of $0, and total expenses of $291,912, resulting in a net increase in Owners’ capital from operations of $610,991.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Select Fund.”

Equinox Frontier Winton Fund

The Equinox Frontier Winton Fund—Class 1 NAV lost 13.57% and gained 5.94%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Winton Fund —Class 2 NAV lost 12.93% and gained 6.74%, respectively, for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Winton Fund —Class 1AP NAV lost 12.93% for the three months ended June 30, 2015.

For the three months ended June 30, 2015, the Equinox Frontier Winton Fund recorded net loss on investments of $5,119,775, net investment income of $27, and total expenses of $580,321, resulting in a net decrease in Owners’ capital from operations of $5,700,069. For the three months ended June 30, 2014, the Equinox Frontier Winton Fund recorded net gain on investments of $2,996,455, net investment income of $0, and total expenses of $945,307, resulting in a net increase in Owners’ capital from operations of $2,051,148.

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Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Winton Fund.”

Equinox Frontier Heritage Fund

The Equinox Frontier Heritage Fund—Class 1 NAV lost 14.72% and gained 7.51%, respectively, for the three months ended June 30, 2015 and 2014 net of fees and expenses; the Equinox Frontier Heritage Fund —Class 2 NAV lost 14.09% and gained 8.32%, respectively for the three months ended June 30, 2015 and 2014, net of fees and expenses; the Equinox Frontier Heritage Fund —Class 1AP NAV lost 14.09% for the three months ended June 30, 2015.

For the three months ended June 30, 2015, the Equinox Frontier Heritage Fund recorded net loss on investments of $2,770,445, net investment income of $0, and total expenses of $171,023, resulting in a net increase in Owners’ capital from operations of $2,941,468. For the three months ended June 30, 2014, the Equinox Frontier Heritage Fund recorded net gain on investments of $1,418,344, net investment income of $0, and total expenses of $256,119, resulting in a net increase in Owners’ capital from operations of $832,265, after non-controlling interests of $329,960.

Please see additional discussion under “Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014 – Equinox Frontier Heritage Fund.”

Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014.

Equinox Frontier Diversified Fund

2015

The Equinox Frontier Diversified Fund—Class 1 NAV gained 2.18% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Diversified Fund—Class 2 NAV gained 3.06% for the six months ended June 30, 2015, net of fees and expenses, the Equinox Frontier Diversified Fund—Class 3 NAV gained 3.19% for the six months ended June 30, 2015.

For the six months ended June 30, 2015, the Equinox Frontier Diversified Fund recorded net gain on investments of $7,957,973, net investment income of $324,401, and total expenses of $3,079,616 resulting in a net increase in Owners’ capital from operations of $2,211,703, after non-controlling interests of $2,991,055. The NAV per Unit, Class 1, increased from $113.09 at December 31, 2014 to $115.55 as of June 30, 2015. The NAV per Unit, Class 2, increased from $124.67 at December 31, 2014 to $128.49 as of June 30, 2015. The NAV per Unit, Class 3 increased from 115.03 at December 31, 2014 to $118.70 as of June 30, 2015. Total Class 1 subscriptions and redemptions for the period were $1,270,579 and $5,313,927, respectively. Total Class 2 subscriptions and redemptions for the period were $1,189,681 and $6,218,435, respectively. Total Class 3 subscriptions and redemptions for the period were $3,413,795 and $1,578,475, respectively. Ending capital at June 30, 2015 was $15,940,760 for Class 1, $31,718,687 for Class 2 and $7,467,609 for Class 3. Ending Capital at December 31, 2014 was $19,195,036 for Class 1, $35,224,292 for Class 2, and $5,588,281 for Class 3.

The Equinox Frontier Diversified Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

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One of the six sectors traded in the Equinox Frontier Diversified Fund was profitable in Q2 2015. Currencies was profitable while and Metals, Energies, Agriculturals, Interest Rates and Stock Indices finished negative for the quarter.

The Interest Rate, Currencies and Stock Indices sectors were positive YTD while Metals, Agriculturals and Energies are negative YTD.

In terms of major CTA performance Doherty, Emil Van Essen, and QIM finished positive for the quarter. Brevan Howard, Chesapeake, Crabel, Fort LP (GC), H20, Quantmetrics, Quest and Winton were negative for the quarter.

Brevan Howard, Doherty, Emil Van Essen, Fort LP (GC), H20, QIM and Quantmetrics were positive YTD while Chesapeake, Crabel, Quest and Winton were negative YTD.

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2014

The Equinox Frontier Diversified Fund—Class 1 NAV lost 0.38% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Diversified Fund—Class 2 NAV gained 0.49% for the six months ended June 30, 2014, net of fees and expenses the Equinox Frontier Diversified Fund—Class 3 NAV gained 3.75% for the six months ended June 30, 2014. The inception date of the Equinox Frontier Diversified Fund Class 3 was February 24, 2014.

For the six months ended June 30, 2014, the Equinox Frontier Diversified Fund recorded net gain on investments of $2,485,576, net investment income of $300,377, and total expenses of $2,857,944 resulting in a net decrease in Owners’ capital from operations of $397,362, after non-controlling interests of $325,371. The NAV per Unit, Class 1, decreased from $87.10 at December 31, 2013 to $86.77 as of June 30, 2014. The NAV per Unit, Class 2, increased from $94.35 at December 31, 2013 to $94.81 as of June 30, 2014. The NAV per Unit, Class 3 was $87.37 as of June 30, 2014. Class 3 operations began February 25, 2014. Total Class 1 subscriptions and redemptions for the period were $558,427 and $8,011,875, respectively. Total Class 2 subscriptions and redemptions for the period were $349,817 and $5,909,484, respectively. Total Class 3 subscriptions and redemptions for the period were $1,809,523 and $52,288, respectively. Ending capital at June 30, 2014 was $20,901,816 for Class 1, $29,073,838 for Class 2 and $1,830,141 for Class 3. Ending capital at December 31, 2013 was $28,744,047 for Class 1 and $34,714,991 for Class 2.

The Equinox Frontier Diversified Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

Two of the six sectors traded in the Equinox Frontier Diversified Fund was profitable in 2Q 2014. Interest Rates and Stock Indices were profitable while Currencies, Metals, Agriculturals and Energies finished negative for the quarter.

The Interest Rate and Stock Indices sectors were positive YTD while Currencies, Metals, Agriculturals and Energies were negative YTD.

In terms of major CTA performance Crabel, Doherty, Fort (GC), H20 and Quantmetrics finished positive for the quarter. Brevan Howard, Cantab, Chesapeake, Tiverton, Winton, Emil Van Essen, QIM and Quest Partners finished negative for the quarter. In terms of YTD performance Crabel, Doherty, Fort (GC) and Quantmetrics were positive YTD while Brevan Howard, Cantab, Chesapeake, H20, Tiverton, Winton, Emil Van Essen, QIM and Quest Partners were negative YTD.

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Equinox Frontier Masters Fund

2015

The Equinox Frontier Masters Fund—Class 1 NAV lost 5.66% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Masters Fund —Class 2 NAV lost 4.83% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Masters Fund—Class 3 NAV lost 4.71% for the six months ended June 30, 2015.

For the six months ended June 30, 2015, the Equinox Frontier Masters Fund recorded net gain on investments of $9,556, net investment income of $139,819, and total expenses of $1,364,855, resulting in a net decrease in Owners’ capital from operations of $1,215,480. For the six months ended June 30, 2014, the Equinox Frontier Diversified Fund recorded net gain on investments of $2,485,576, net investment income of $300,377, and total expenses of $2,857,944 resulting in a net decrease in Owners’ capital from operations of $397,362, after non-controlling interests of $325,371. The NAV per Unit, Class 1, increased from $116.61 at December 31, 2014 to $110.01 as of June 30, 2015. The NAV per Unit, Class 2, increased from $128.53 at December 31, 2014 to $122.32 as of June 30, 2015. The NAV per Unit, Class 3, increased from $119.06 at December 31, 2014 to $113.45 as of June 30, 2015. Total Class 1 subscriptions and redemptions for the period were $989,895 and $3,183,426, respectively. Total Class 2 subscriptions and redemptions for the period were $10,000 and $483,171, respectively. Total Class 3 subscriptions and redemptions for the period were $2,498,048 and $1,625,851, respectively. Ending capital at June 30, 2015 was $9,077,720 for Class 1, $8,004,780 for Class 2 and $5,615,369 for Class 3. Ending capital at December 31, 2014 was $11,850,911 for Class 1, $8,868,743 for Class 2 and $4,988,200 for Class 3.

The Equinox Frontier Masters Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

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All of the six sectors traded in Equinox Frontier Masters Fund were negative in Q1 2015 and YTD.

In terms of major CTA performance, one of the four major CTAs in the Equinox Frontier Masters Fund was profitable for the quarter. Emil Van Essen was positive for the quarter and YTD, while Chesapeake, Transtrend and Winton were negative for the quarter and YTD.

2014

The Equinox Frontier Masters Fund—Class 1 NAV gained 1.24% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Masters Fund —Class 2 NAV gained 2.12% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Masters Fund—Class 3 NAV gained 2.24% for the six months ended June 30, 2014. The inception date of the Equinox Frontier Masters Fund Class 3 was December 17, 2013.

For the six months ended June 30, 2014, the Equinox Frontier Masters Fund recorded net gain on investments of $980,182, net investment income of $166,701, and total expenses of $1,192,822, resulting in a net decrease in Owners’ capital from operations of $45,939. For the six months ended June 30, 2013 the Equinox Frontier Masters Fund recorded a net loss on investments of $1,692,118, net investment income of $455,372, and total expenses of $1,588,128, resulting in a net decrease in Owners’ capital from operations of $2,824,874. The NAV per Unit, Class 1, increased from $91.83 at December 31, 2013 to $92.97 as of June 30, 2014. The NAV per Unit, Class 2, increased from $99.46 at December 31, 2013 to $101.57 as of June 30, 2014. The NAV per Unit, Class 3,

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increased from $91.91 at December 31, 2013 to $93.97 as of June 30, 2014. Total Class 1 subscriptions and redemptions for the period were $140,294 and $10,016,182, respectively. Total Class 2 subscriptions and redemptions for the period were $35,000 and $1,825,965, respectively. Total Class 3 subscriptions and redemptions for the period were $2,764,331 and $445,554, respectively. Ending capital at June 30, 2014 was $12,926,946 for Class 1, $8,724,607 for Class 2 and $2,725,219 for Class 3. Ending capital at December 31, 2013 was $23,115,495 for Class 1, $10,406,162 for Class 2 and $249,127 for Class 3.

The Equinox Frontier Masters Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

Two of the six sectors traded in Equinox Frontier Masters Fund were profitable in 2Q 2014. Stock Indices and Interest Rates were positive while Metals, Currencies, Energies and Agriculturals were negative for the quarter.

Stock Indices and Interest Rates were positive for the year while Metals, Currencies, Energies and Agriculturals were negative for the year.

In terms of major CTA performance, none of the major CTAs in the Equinox Frontier Masters Fund were profitable for the quarter. Transtrend and Winton were positive YTD, while Cantab, Chesapeake, and Tiverton were negative YTD.

Equinox Frontier Long/Short Commodity Fund

2015

The Equinox Frontier Long/Short Commodity Fund—Class 2 NAV gained 7.13% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 3 NAV gained 7.13% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 1a NAV gained 5.98%, for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 2a NAV gained 6.90% 9, for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund Class 3a NAV gained 7.04% for the six months ended June 30, 2015, net of fees and expenses.

For the six months ended June 30, 2015, the Equinox Frontier Long/Short Commodity Fund recorded net gain on investments of $910,137, net investment income of $90,191, and total expenses of $729,246, resulting in a net increase in Owners’ capital from operations of $271,082. For the six months ended June 30, 2014, the Equinox Frontier Long/Short Commodity Fund recorded net loss on investments of $2,565,800, net investment income of $116,852, and total expenses of $724,549, resulting in a net decrease in

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Owners’ capital from operations of $2,406,675, after non-controlling interests of ($766,822). The NAV per Unit, Class 2, increased from $138.30 at December 31, 2014 to $148.16 as of June 30, 2015. The NAV per Unit, Class 3, increased from $138.34 at December 31, 2014 to $148.20 as of June 30, 2015. The NAV per Unit, Class 1a, increased from $101.12 at December 31, 2014 to $107.17 as of June 30, 2015. The NAV per Unit, Class 2a, increased from $111.35 at December 31, 2014 to $119.03 as of June 30, 2015. The NAV per Unit, Class 3a, increased from $111.77 at December 31, 2014 to $119.64 as of June 30, 2015. Total Class 2 redemptions for the period were $181,144. Total Class 3 redemptions for the period were $454,734. Total Class 1a subscriptions and redemptions for the period were $23,000 and $874,536, respectively. Class 2a subscriptions and redemptions for the period were $5,000 and $281,680, respectively. Class 3a subscriptions and redemptions for the period were $120,785 and $90,453, respectively. Ending capital at June 30, 2015 was $1,161,998 for Class 2, $7,309,331 for Class 3, $5,306,714 for Class 1a, $1,548,908 for Class 2a and $734,451 for Class 3a. Ending capital at December 31, 2014 was $1,246,481 for Class 2, $7,233,099 for Class 3, $5,776,906 for Class 1a, $1,702,551 for Class 2a and $657,882 for Class 3a.

The Equinox Frontier Long/Short Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

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Two of the seven sectors traded in the Equinox Frontier Long/Short Commodity Fund were profitable in Q2 2015. Grains and Meats finished positive for the quarter while Base Metals, Energies, Precious Metals, Softs and Financials finished negative for the quarter. Energies, Softs and Financials were positive YTD while Base Metals, Grains, Meats, and Precious Metals were negative YTD.

In terms of major CTA performance, two of the five major CTAs in the Equinox Frontier Long/Short Commodity Fund were profitable in Q2 2015. Emil Van Essen and Rosetta were positive for the quarter and were positive YTD while Abraham, JE Moody, and Red Oak finished negative for the quarter and were negative YTD.

2014

The Equinox Frontier Long/Short Commodity Fund—Class 2 NAV lost 10.45% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 3 NAV lost 10.45% for the six months ended June 30, 2014, 2014, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 1a NAV lost 10.75%, for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund —Class 2a NAV lost 9.99%, for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Long/Short Commodity Fund Class 3a NAV lost 9.86% for the six months ended June 30, 2014, net of fees and expenses.

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For the six months ended June 30, 2014, the Equinox Frontier Long/Short Commodity Fund recorded net loss on investments of $2,565,800, net investment income of $116,852, and total expenses of $724,549, resulting in a net decrease in Owners’ capital from operations of $2,406,675, after non-controlling interests of ($766,822). For the six months ended June 30, 2013, the Equinox Frontier Long/Short Commodity Fund recorded net loss on investments of $4,975,201, net investment income of $585,282, and total expenses of $1,815,455, resulting in a net decrease in Owners’ capital from operations of $3,523,930, after non-controlling interests of ($2,681,444). The NAV per Unit, Class 2, decreased from $125.26 at December 31, 2013 to $112.17 as of June 30, 2014. The NAV per Unit, Class 3, decreased from $125.30 at December 31, 2013 to $112.20 as of June 30, 2014. The NAV per Unit, Class 1a, decreased from $92.73 at December 31, 2013 to $82.76 as of June 30, 2014. The NAV per Unit, Class 2a, decreased from $100.34 at December 31, 2013 to $90.32 as of June 30, 2014. The NAV per Unit, Class 3a, decreased from $100.47 at December 31, 2013 to $90.56 as of June 30, 2014. Total Class 2 redemptions for the period were $1,932,014. Total Class 3 redemptions for the period were $1,796,339. Total Class 1a subscriptions and redemptions were $107,716 and $2,484,658 respectively. Class 2a redemptions for the period were $1,228,609. Class 3a subscriptions and redemptions for the period were $294,261 and $125,931, respectively. Ending capital at June 30, 2014 was $1,173,977 for Class 2, $6,866,592 for Class 3, $5,516,168 for Class 1a, $1,588,411 for Class 2a and $387,699 for Class 3a. Ending capital at December 31, 2013 was $3,371,798 for Class 2, $9,619,596 for Class 3, $8,752,826 for Class 1a, $3,103,405 for Class 2a and $257,471 for Class 3a.

The Equinox Frontier Long/Short Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

98

Four of the seven sectors traded in the Equinox Frontier Long/Short Commodity Fund were profitable in Q2 2014. Base Metals, Grains, Meat and Precious Metals finished positive for the quarter while Energies, Softs and Financials finished negative for the quarter. Grains and Softs were positive YTD while Base Metals, Energies, Meats, Precious Metals and Financials were negative YTD.

In terms of major CTA performance, one of the six major CTAs in the Equinox Frontier Long/Short Commodity Fund was profitable in 2Q 2014. Abraham was positive for the quarter and were positive YTD while Commodity Strategies, Emil Van Essen, JE Moody, Red Oak, Rosetta and Strategic Ag finished negative for the quarter and were negative YTD.

Equinox Frontier Balanced Fund

2015

The Equinox Frontier Balanced Fund—Class 1 NAV gained 0.21% for the six months ended June 30, 2015, net of fees and expenses; The Equinox Frontier Balanced Fund—Class 1AP NAV gained 1.72% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2 NAV gained 1.72% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2a NAV gained 2.18% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 3a NAV gained 2.18% for the three months ended June 30, 2015, net of fees and expenses.

99

For the six months ended June 30, 2015, the Equinox Frontier Balanced Fund recorded net gain on investments of $4,651,800, net investment income of $15,193, and total expenses of $3,531,816, resulting in a net increase in Owners’ capital from operations of $779,031, after non-controlling interests of $356,146. For the six months ended June 30, 2014, the Equinox Frontier Balanced Fund recorded net gain on investments of $4,237,671, net investment income of $15,073, and total expenses of $3,404,737, resulting in a net increase in Owners’ capital from operations of $1,705,510, after non-controlling interests of $2,854,321. The NAV per Unit, Class 1, increased from $131.54 at December 31, 2014 to $131.82 as of June 30, 2015. The NAV per Unit, Class 1AP, increased from $133.20 at December 31, 2014 to $135.49 as of June 30, 2015. The NAV per Unit, Class 2, increased from $179.16 at December 31, 2014 to $182.24 as of June 30, 2015. The NAV per Unit, Class 2a, increased from $153.02 at December 31, 2014 to $156.36 as of June 30, 2015. The NAV per Unit, Class 3a, increased from $152.52 at December 31, 2014 to $155.85 as of June 30, 2015. Total Class 1 subscriptions and redemptions for the period were $117,365 and $4,065,683, respectively. Total Class 1AP subscriptions and redemptions for the period were $1,457 and $39,001, respectively. Total Class 2 subscriptions and redemptions for the period were $9,409 and $524,931, respectively. Total Class 2a, redemptions for the period were $60,850. Total Class 3a redemptions for the period were $52,948. Ending capital at June 30, 2015 was $68,562,471 for Class 1, $724,876 for Class 1AP, $23,474,966 for Class 2, $553,306 for Class 2a, and $2,534,161 for Class 3a. Ending capital at December 31, 2014 was $72,098,275 for Class 1, $748,275 for Class 1AP, $23,550,697 for Class 2, $600,287 for Class 2a and $2,528,303 for Class 3a.

The Equinox Frontier Balanced Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

100

101

One of the six sectors traded in the Equinox Frontier Balanced Fund were profitable in Q2 2015. Currencies was profitable while Metals, Energies, Agriculturals, Interest Rates and Stock Indices finished negative for the quarter.

Currencies, Interest Rates, and Stock Indices were positive YTD while Metals, Energies, and Agriculturals were negative YTD.

In terms of major CTA performance, five of the fifteen major CTAs in the Equinox Frontier Balanced Fund were profitable in Q2 2015. Brandywine, , Doherty, Emil Van Essen, QIM and Winton were positive for the quarter while Beach Horizon, Campbell, Cantab, Crabel, Fort LP (GP), Fort LP (GD), H20 AM, Quantica, Quantmetrics and Winton are negative for the quarter.

Brandywine, Doherty, Emil Van Essen, Fort LP (GC), H20 AM, QIM and Quantmetrics were positive YTD, while Beach Horizon, Campbell, Cantab, Crabel, Fort LP (GD), Quantica, Systematic Alpha and Winton were negative YTD.

2014

The Equinox Frontier Balanced Fund—Class 1 NAV lost 2.29% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2 NAV lost 0.81% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 2a NAV lost 0.27%, for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Balanced Fund —Class 3a NAV lost 0.27% for the six months ended June 30, 2014, net of fees and expenses.

For the six months ended June 30, 2014, the Equinox Frontier Balanced Fund recorded net gain on investments of $4,237,674, net investment income of $15,073, and total expenses of $3,404,734, resulting in a net increase in Owners’ capital from operations of $1,705,510, after non-controlling interests of $2,854,321. For the six months ended June 30, 2013, the Equinox Frontier Balanced Fund recorded net loss on investments of $12,914,896, net investment income of $122,551, and total expenses of $4,163,030, resulting in a net decrease in Owners’ capital from operations of $16,342,353 after non- controlling interests of $613,022. The NAV per Unit, Class 1, decreased from $106.29 at December 31, 2013 to $103.86 as of June 30, 2014. The NAV per Unit, Class 2, decreased from $140.49 at December 31, 2013 to $139.35 as of June 30, 2014. The NAV per Unit, Class 2a, increased from $118.80 at December 31, 2013 to $118.48 as of June 30, 2014. The NAV per Unit, Class 3a, decreased from $118.41 at December 31, 2013 to $118.09 as of June 30, 2014. Total Class 1 subscriptions and redemptions for the period were $75,943 and $14,334,761, respectively. Total Class 2 subscriptions and redemptions for the period were $7,110 and $5,534,845, respectively. Total Class 2a, redemptions for the period were $4,070. Total Class 3a redemptions for the period were $190,929. Ending capital at June 30, 2014 was $64,439,345 for Class 1, $20,739,600 for Class 2, $486,096 for Class 2a, and $2,120,414 for Class 3a. Ending capital at December 31, 2013 was $80,801,534 for Class 1, $26,611,117 for Class 2, $491,579 for Class 2a and $2,322,629 for Class 3a.

The Equinox Frontier Balanced Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

102

Two of the six sectors traded in the Equinox Frontier Balanced Fund were profitable in Q2 2014. Stock Indices and Interest Rate sectors were profitable while Metals, Currencies, Energies, and Agriculturals finished negative for the quarter.

Interest Rate sectors was positive YTD while Stock Indices, Metals, Currencies, Energies, and Agriculturals were negative YTD.

In terms of major CTA performance, nine of the fifteen major CTAs in the Equinox Frontier Balanced Fund were profitable in 2Q 2014. Beach Horizon, Crabel, Doherty, Fort (GC), Fort (GD), H2O AM, Quantica, Quantmetrics and Winton were positive for the quarter and are positive YTD while Campbell, Cantab, Emil Van Essen, QIM, Systematic Alpha, and Tiverton finished negative for the quarter and are negative YTD.

103

Equinox Frontier Select Fund

2015

The Equinox Frontier Select Fund—Class 1 NAV lost 8.68% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Select Fund—Class 1AP NAV lost 7.31% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Select Fund —Class 2 NAV lost 7.31% for the six months ended June 30, 2015, net of fees and expenses.

For the six months ended June 30, 2015, the Equinox Frontier Select Fund recorded net loss on investments of $1,329,887, net investment income of $0, and total expenses of $584,464, resulting in a net decrease in Owners’ capital from operations of $684,237, less non-controlling interests of ($684,237). For the six months ended June 30, 2014, the Equinox Frontier Select Fund recorded net gain on investments of $132,564, net investment income of $0, and total expenses of $565,340, resulting in a net decrease in Owners’ capital from operations of $432,776. The NAV per Unit, Class 1, decreased from $95.61 at December 31, 2014 to $87.31 as of June 30, 2015. The NAV per Unit, Class 1AP, decreased from $96.82 at December 31, 2014 to $89.74 as of June 30, 2015. The NAV per Unit, Class 2, decreased from $128.48 at December 31, 2014 to $119.09 as of June 30, 2015.Total Class 1 subscriptions and redemptions for the period were $10,068 and $545,555, respectively. Total Class 1AP subscriptions and redemptions for the period were $930 and $0, respectively. Total Class 2 redemptions for the period were $152,448. Ending capital at June 30, 2015 was $12,000,655 for Class 1, $45,084 for Class 1AP and $1,306,618 for Class 2. Ending capital at December 31, 2014 was $13,663,563 for Class 1, $47,785 for Class 1AP and $1,558,130 for Class 2.

The Equinox Frontier Select Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

104

None of the six sectors traded in the Equinox Frontier Select Fund were profitable in Q2 2015.

Currencies was positive YTD while Metals, Energies, Agriculturals, Interest Rates and Stock Indices were negative YTD.

In terms of major CTA performance, Brevan Howard, and Transtrend finished negative for the quarter, while Brevan Howard was positive YTD and Transtrend was negative YTD.

2014

The Equinox Frontier Select Fund—Class 1 NAV lost 2.04% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Select Fund —Class 2 NAV lost 0.56% for the six months ended June 30, 2014, net of fees and expenses.

For the six months ended June 30, 2014, the Equinox Frontier Select Fund recorded net gain on investments of $132,564, net investment income of $0, and total expenses of $565,340, resulting in a net decrease in Owners’ capital from operations of $432,776. For the six months ended June 30, 2013, the Equinox Frontier Select Fund recorded net gain on investments of $1,354,736, net investment income of $178,057, and total expenses of $746,269, resulting in a net increase in Owners’ capital from operations of $786,524. The NAV per Unit, Class 1, decreased from $79.86 at December 31, 2013 to $78.23 as of June 30, 2014. The NAV per Unit, Class 2, decreased from $104.14 at December 31, 2013 to $103.56 as of June 30, 2014. Total Class 1 subscriptions and redemptions for the period were $4,943 and $2,484,851, respectively. Total Class 2 redemptions for the period were $361,783. Ending capital at June 30, 2014 was $12,963,579 for Class 1 and $1,373,802 for Class 2. Ending capital at December 31, 2013 was $15,852,947 for Class 1 and $1,758,901 for Class 2.

The Equinox Frontier Select Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

105

Three of the six sectors traded in the Equinox Frontier Select Fund were profitable in Q2 2014. Energies, Stock Indices and Interest Rates were positive while Currencies, Agriculturals, and Metals were negative for the quarter.

Agriculturals, Interest Rates and Stock Indices were positive YTD while Currencies, Metals and Energies were negative YTD.

In terms of major CTA performance, Brevan Howard, Transtrend and Tiverton finished negative for the quarter and Brevan Howard and Tiverton were negative YTD, while Transtrend was positive YTD.

Equinox Frontier Winton Fund

2015

The Equinox Frontier Winton Fund—Class 1 NAV lost 5.74% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Winton Fund—Class 1AP NAV lost 4.33% for the six months ended June 30, 2015, net of fees and expenses the Equinox Frontier Winton Fund —Class 2 NAV lost 4.33% for the six months ended June 30, 2015, net of fees and expenses.

For the six months ended June 30, 2015, the Equinox Frontier Winton Fund recorded net loss on investments of $122,657, net investment income of $27, and total expenses of $1,901,121, resulting in a net decrease in Owners’ capital from operations of $2,023,778. For the six months ended June 30, 2014, the Equinox Frontier Winton Fund recorded net gain on investments of $2,893,259, net investment income of $41, and total expenses of $1,473,239, resulting in a net increase in Owners’ capital from operations of $1,420,061. The NAV per Unit, Class 1, decreased from $175.95 at December 31, 2014 to $165.85 as of June 30, 2015. The NAV per Unit, Class 1AP, decreased from $178.18 at December 31, 2014 to $170.46 as of June 30, 2015. The NAV per Unit, Class 2, decreased from $226.23 at December 31, 2014 to $216.43 as of June 30, 2015. Total Class 1 subscriptions and redemptions for the period were $93,346 and $1,185,987, respectively. Total Class 2 redemptions for the period were $148,360. Ending capital at June 30, 2015 was $24,319,904 for Class 1, $36,395 for Class 1AP and $12,430,155 for Class 2. Ending capital at December 31, 2014 was $26,870,878 for Class 1, $38,042 for Class 1AP and $13,142,313 for Class 2.

The Equinox Frontier Winton Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

106

None of the six sectors traded in the Equinox Frontier Winton Fund were profitable in Q2 2015.

Stock Indices and Interest Rates were positive YTD while Currencies, Agriculturals, Metals, Interest Rates and Energies were negative YTD.

2014

The Equinox Frontier Winton Fund—Class 1 NAV gained 3.93% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Winton Fund —Class 2 NAV gained 5.48% for the six months ended June 30, 2014, net of fees and expenses.

For the six months ended June 30, 2014, the Equinox Frontier Winton Fund recorded net gain on investments of $2,893,259, net investment income of $41, and total expenses of $1,473,239, resulting in a net increase in Owners’ capital from operations of $1,420,061. For the six months ended June 30, 2013, the Equinox Frontier Winton Fund recorded net gain on investments of $1,781,248, net investment income of $204,611, and total expenses of $1,121,735, resulting in a net increase in Owners’ capital from operations of $864,124. The NAV per Unit, Class 1, increased from $139.59 at December 31, 2013 to $145.07 as of June 30, 2014. The NAV per Unit, Class 2, increased from $174.17 at December 31, 2013 to $183.72 as of June 30, 2014. Total Class 1 subscriptions and redemptions for the period were $67,734 and $3,480,897, respectively. Total Class 2 redemptions for the period were $307,865. Ending capital at June 30, 2014 was $23,611,933 for Class 1 and $10,711,937 for Class 2. Ending capital at December 31, 2013 was $26,164,147 for Class 1 and $10,460,690 for Class 2.

The Equinox Frontier Winton Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

Three of the six sectors traded in the Equinox Frontier Winton Fund were profitable in Q2 2014. Stock Indices, Energies and Interest Rates were positive while Metals, Currencies and Agriculturals were negative for the quarter.

Stock Indices and Interest Rates were positive YTD while Currencies, Agriculturals, Metals, Interest Rates and Energies were negative YTD.

107

Equinox Frontier Heritage Fund

2015

The Equinox Frontier Heritage Fund—Class 1 NAV lost 3.21% for the six months ended June 30, 2015, net of fees and expenses; the Equinox Frontier Heritage Fund—Class 1AP NAV lost 1.76% for the six months ended June 30, 2015, net of fees and expenses the Equinox Frontier Heritage Fund —Class 2 NAV lost 1.76% for the six months ended June 30, 2015, net of fees and expenses.

For the six months ended June 30, 2015, the Equinox Frontier Heritage Fund recorded net gain on investments of $277,639, net investment income of $0, and total expenses of $484,305, resulting in a net decrease in Owners’ capital from operations of $334,182, after non-controlling interests of $127,516. For the six months ended June 30, 2014, the Equinox Frontier Heritage Fund recorded net gain on investments of $181,764, net investment income of $0, and total expenses of $431,952, resulting in a net decrease in Owners’ capital from operations of $42,154, after non-controlling interests of ($208,034). The NAV per Unit, Class 1, decreased from $130.28 at December 31, 2014 to $126.10 as of June 30, 2015. The NAV per Unit, Class 1AP, decreased from $131.93 at December 31, 2014 to $129.61 as of June 30, 2015. The NAV per Unit, Class 2, decreased from $176.56 to $173.45 as of June 30, 2015. Total Class 1 subscriptions and redemptions for the period were $21,905 and $356,862, respectively. There were no subscriptions or redemptions for Class 1AP for the period. Total Class 2 redemptions for the period were $112,648. Ending capital at June 30, 2015 was $9,141,028 for Class 1, $58,494 for Class 1AP and $3,047,359 for Class 2. Ending capital at December 31, 2014 was $9,761,819 for Class 1, $58,378 for Class 1AP and $3,207,182 for Class 2.

The Equinox Frontier Heritage Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

108

None of the six sectors traded in the Equinox Frontier Heritage Fund were profitable in Q2 2015.

Currencies were positive YTD while Stock Indices, Agriculturals, Metals, Interest Rates and Energies were negative YTD.

In terms of major CTA performance, Winton finished negative for the quarter and YTD while Brevan Howard finished negative for the quarter and positive YTD.

2014

The Equinox Frontier Heritage Fund—Class 1 NAV gained 0.52% for the six months ended June 30, 2014, net of fees and expenses; the Equinox Frontier Heritage Fund —Class 2 NAV gained 2.03% for the six months ended June 30, 2014, net of fees and expenses.

For the six months ended June 30, 2014, the Equinox Frontier Heritage Fund recorded net gain on investments of $181,764, net investment income of $0, and total expenses of $431,952, resulting in a net decrease in Owners’ capital from operations of $42,154, after non-controlling interests of ($208,034). For the six months ended June 30, 2013, the Equinox Frontier Heritage Fund recorded net gain on investments of $1,345,719, net investment income of $72,996, and total expenses of $523,679, resulting in a net increase in Owners’ capital from operations of $895,036. The NAV per Unit, Class 1, increased from $102.05 at December 31, 2013 to $102.58 as of June 30, 2014. The NAV per Unit, Class 2, increased from $134.21 at December 31, 2013 to $136.93 as of June 30, 2014. Total Class 1 subscriptions and redemptions for the period were $11,982 and $2,465,305, respectively. Total Class 2 redemptions for the period were $235,405. Ending capital at June 30, 2014 was $8,792,828 for Class 1 and $2,654,758 for Class 2. Ending capital at December 31, 2013 was $11,328,406 for Class 1 and $2,850,062 for Class 2.

The Equinox Frontier Heritage Fund may have both long and short exposure to the Interest Rates, Currencies, Stock Indices, Energies, Metals, and Commodities sectors.

109

Three of the six sectors traded in the Equinox Frontier Heritage Fund were profitable in Q2 2014. Energies, Stock Indices and Interest Rates were positive while Metals, Currencies and Agriculturals were negative for the quarter.

Stock Indices and Interest Rates were positive YTD while Currencies, Agriculturals, Metals, Interest Rates and Energies were negative YTD.

In terms of major CTA performance, Winton finished positive for the quarter and YTD while Brevan Howard finished negative for the quarter and negative YTD.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Trust is a speculative commodity pool. The market sensitive instruments which are held by the Trading Companies in which the Series are invested are acquired for speculative trading purposes, and all or a substantial amount of the Series’ assets are subject to the risk of trading loss. Unlike an operating company, the risk of market sensitive instruments is integral, not incidental, to the Series’ main line of business.

Market movements result in frequent changes in the fair market value of each Trading Company’s open positions and, consequently, in each Series of the Trust’s earnings and cash flow. The Trading Companies’ and consequently the Series’ market risk is influenced by a wide variety of factors, including the level and volatility of exchange rates, interest rates, equity price levels, the market value of financial instruments and contracts, the diversification effects among the open positions and the liquidity of the markets in which trades are made.

Each Trading Company rapidly acquires and liquidates both long and short positions in a wide range of different markets. Consequently, it is not possible to predict how a particular future market scenario will affect performance, and the past performance for any Series is not necessarily indicative of the future results of such Series.

Additional risk of trading loss from investment in an unaffiliated Trading Company may result from the Managing Owner’s inability to directly control or stop trading in the event of exercise of certain withdrawal provisions in the investment agreement.

The Trading Companies’ and consequently the Series’ primary market risk exposures as well as the strategies used and to be used by the Trading Advisors for managing such exposures are subject to numerous uncertainties, contingencies and risks, any one of which could cause the actual results of the Trust’s and the Managing Owner’s risk controls to differ materially from the objectives of such strategies. Government interventions, defaults and expropriations, illiquid markets, the emergence of dominant fundamental factors, political upheavals, changes in historical price relationships, an influx of new market participants, increased regulation and many other factors could result in material losses as well as in material changes to the risk exposures and the risk management strategies of the Trading Companies and consequently the Trust. There can be no assurance that the Trading Companies’ current market exposure and/or risk management strategies will not change materially or that any such strategies will be effective in either the short- or long-term. Investors must be prepared to lose all or substantially all of their investment in a Series.

110

Quantitative Market Risk

Trading Risk

The Series’ approximate risk exposure in the various market sectors traded by its trading advisors is quantified below in terms of value at risk. Due to the Series’ mark-to-market accounting, any loss in the fair value of the Series’ (through the Trading Companies) open positions is directly reflected in the Series’ earnings, realized or unrealized.

Exchange maintenance margin requirements have been used by the Trust as the measure of its value at risk. Maintenance margin requirements are set by exchanges to equal or exceed the maximum losses reasonably expected to be incurred in the fair value of any given contract in 95% to 99% of any one-day interval. The maintenance margin levels are established by brokers, dealers and exchanges using historical price studies as well as an assessment of current market volatility and economic fundamentals to provide a probabilistic estimate of the maximum expected near-term one-day price fluctuation. Maintenance margin has been used rather than the more generally available initial margin, because initial margin includes a credit risk component that is not relevant to value at risk.

In the case of market sensitive instruments that are not exchange-traded, including currencies and some energy products and metals, the margin requirements for the equivalent futures positions have been used as value at risk. In those cases in which a futures-equivalent margin is not available, dealers’ margins have been used.

In the case of contracts denominated in foreign currencies, the value at risk figures include foreign currency margin amounts converted into U.S. dollars with an incremental adjustment to reflect the exchange rate risk inherent to the Series, which is valued in U.S. dollars, in expressing value at risk in a functional currency other than U.S. dollars.

In quantifying each Series’ value at risk, 100% positive correlation in the different positions held in each market risk category has been assumed. Consequently, the margin requirements applicable to the open contracts have simply been aggregated to determine each trading category’s aggregate value at risk. The diversification effects resulting from the fact that the Series’ positions held through the Trading Companies are rarely, if ever, 100% positively correlated have not been reflected.

Value at Risk by Market Sectors

The following tables present the trading value at risk associated with each Series’ exposure to open positions (as held by the Trading Companies) by market sector as of June 30, 2015 and December 31, 2014. All open position trading risk exposures of the Series have been included in calculating the figures set forth below.

111

Equinox Frontier Diversified Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	1,748,918		2.81	%	$	1,276,055		2.13	%
Currencies		4,218,978		6.78	%		1,670,041		2.78	%
Stock Indices		4,565,527		7.34	%		3,152,926		5.25	%
Metals		237,513		0.38	%		124,812		0.21	%
Agriculturals/Softs		1,343,451		2.16	%		854,409		1.42	%
Energy		1,229,113		1.98	%		1,677,590		2.80	%
Total:	$	13,343,500		21.45	%	$	8,755,833		14.59	%

Equinox Frontier Long/Short Commodity Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	54,244		0.34	%	$	86,055		0.52	%
Currencies		264,755		1.65	%		206,375		1.24	%
Stock Indices		208,503		1.30	%		185,321		1.12	%
Metals		46,572		0.29	%		32,767		0.20	%
Agriculturals/Softs		640,648		3.99	%		474,912		2.86	%
Energy		1,630,349		10.15	%		2,278,884		13.71	%
Total:	$	2,845,071		17.72	%	$	3,264,314		19.65	%

Equinox Frontier Masters Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	812,109		3.58	%	$	596,543		2.32	%
Currencies		1,191,217		5.25	%		1,004,876		3.91	%
Stock Indices		1,687,409		7.43	%		659,851		2.57	%
Metals		113,367		0.50	%		48,364		0.19	%
Agriculturals/Softs		767,510		3.38	%		394,545		1.53	%
Energy		635,321		2.80	%		776,846		3.02	%
Total:	$	5,206,933		22.94	%	$	3,481,025		13.45	%

Equinox Frontier Balanced Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	3,110,405		3.21	%	$	3,301,495		3.04	%
Currencies		7,162,906		7.38	%		4,131,348		3.81	%
Stock Indices		5,260,731		5.42	%		4,350,810		4.01	%
Metals		547,597		0.56	%		460,411		0.42	%
Agriculturals/Softs		3,097,033		3.19	%		2,507,574		2.31	%
Energy		1,960,579		2.02	%		2,862,415		2.64	%
Total:	$	21,139,251		21.78	%	$	17,614,053		16.23	%

Equinox Frontier Select Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	425,425		2.21	%	$	338,847		2.22	%
Currencies		715,904		3.72	%		684,037		4.48	%
Stock Indices		1,087,395		5.65	%		124,866		0.82	%
Metals		48,199		0.25	%		12,156		0.08	%
Agriculturals/Softs		439,143		2.28	%		140,093		0.92	%
Energy		64,510		0.34	%		18,880		0.12	%
Total:	$	2,780,576		14.45	%	$	1,318,879		8.64	%

Equinox Frontier Winton Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	1,615,476		4.39	%	$	1,081,081		2.70	%
Currencies		2,288,497		6.22	%		1,845,125		4.61	%
Stock Indices		1,211,219		3.29	%		847,093		2.12	%
Metals		233,173		0.63	%		112,363		0.28	%
Agriculturals/Softs		649,201		1.76	%		478,222		1.19	%
Energy		247,852		0.67	%		141,408		0.35	%
Total:	$	6,245,418		16.96	%	$	4,505,292		11.25	%

Equinox Frontier Heritage Fund:

	June 30, 2015					December 31, 2014
	VALUE AT RISK		% OF TOTAL CAPITALIZATION			VALUE AT RISK		% OF TOTAL CAPITALIZATION
MARKET SECTOR
Interest Rates	$	306,144		1.93	%	$	228,140		1.38	%
Currencies		441,225		2.78	%		381,353		2.30	%
Stock Indices		258,246		1.63	%		194,764		1.18	%
Metals		47,000		0.30	%		23,407		0.14	%
Agriculturals/Softs		134,298		0.85	%		101,074		0.61	%
Energy		46,349		0.29	%		28,157		0.17	%
Total:	$	1,233,262		7.78	%	$	956,895		5.78	%

112

Material Limitations on Value at Risk as an Assessment of Market Risk

The face value of the market sector instruments held on behalf of the Series is typically many times the applicable maintenance margin requirement, which generally ranges between approximately 1% and 10% of contract face value, as well as many times the capitalization of the Series. The magnitude of each Series’ open positions creates a risk of ruin not typically found in most other investment vehicles. Because of the size of their positions, certain market conditions, although unusual, but historically recurring from time to time, could cause a Series to incur severe losses over a short period of time. The value at risk table above, as well as the past performance of the Series, gives no indication of this risk of severe losses.

Non-Trading Risk

The Series have non-trading market risk on their foreign cash balances not needed for margin. However, these balances, as well as the market risk they represent, are immaterial. The Series also have non-trading market risk as a result of investing a portion of their available assets in U.S. government securities which include any security issued or guaranteed as to principal or interest by the U.S., or by a person controlled by or supervised by and acting as an instrumentality of the government of the U.S. pursuant to authority granted by Congress of the U.S. or any certificate of deposit for any of the foregoing, including U.S. treasury bonds, U.S. treasury bills and issues of agencies of the U.S. government, and certain cash items such as money market funds, certificates of deposit (under nine months) and time deposits. The market risk represented by these investments is also immaterial.

Qualitative Market Risk

The following are the primary trading risk exposures of the Series of the Trust as of June 30, 2015, by market sector.

Interest Rates

Interest rate risk is one of the principal market exposures of each Series. Interest rate movements directly affect the price of interest rate futures positions held and indirectly affect the value of a Trading Company’s stock index and currency positions. Interest rate movements in one country as well as relative interest rate movements between countries materially impact profitability. The primary interest rate exposure is to interest rate fluctuations in the U.S. and the other G-7 countries. However, the Trading Companies also may take futures positions on the government debt of smaller nations. The Managing Owner anticipates that G-7 interest rates will remain the primary market exposure of each Trading Company and accordingly of each Series for the foreseeable future. The changes in interest rates which are expected to have the most effect on the Series are changes in long-term, as opposed to short-term rates. Most of the speculative positions to be held by the Trading Companies will be in medium- to long-term instruments. Consequently, even a material change in short-term rates is expected to have little effect on the Series if the medium- to long-term rates remain steady. Aggregate interest income from all sources, including assets held at clearing brokers, of up to 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1 and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund and Equinox Frontier Balanced Fund (Class 1a and Class 2a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. In addition, if interest rates fall below 0.75%, the Managing Owner is paid the difference between the Trust’s annualized interest income that is allocated to each of such Series and 0.75%. Interest income above what is paid to the Managing Owner is retained by the Series. The amounts reflected in the financial statements for the Trust and Series are disclosed on a net basis. Due to some classes not exceeding the 2% paid to the Managing Owner, amounts earned by those classes may be zero.

Currencies

Exchange rate risk is a significant market exposure of each Series of the Trust in general. For each Series of the Trust in general, currency exposure is to exchange rate fluctuations, primarily fluctuations that disrupt the historical pricing relationships between different currencies and currency pairs. These fluctuations are influenced by interest rate changes as well as political and general economic conditions. The Trading Advisors on behalf of a Series trade in a large number of currencies, including cross-rates, which are positions between two currencies other than the U.S. dollar. The Managing Owner does not anticipate that the risk profile of the Series’ currency sector will change significantly in the future.

Stock Indices

For each Series, its primary equity exposure is equity price risk in the G-7 countries as well as other smaller jurisdictions. Each Series of the Trust is primarily exposed to the risk of adverse price trends or static markets in the major U.S., European and Japanese indices.

113

Metals

For each Series, its metals market exposure is fluctuations in the price of both precious metals, including gold and silver, as well as base metals including aluminum, copper, nickel and zinc. Some metals, such as gold, are used as surrogate stores of value, in place of hard currency, and thus have currency or interest rate risk associated with them relative to their price in a specific currency. Other metals, such as silver, platinum, copper and steel, have substantial industrial applications, and may be subject to forces affecting industrial production and demand.

Agriculturals/Softs

Each Series may also invest in raw commodities and may thus have exposure to agricultural price movements, which are often directly affected by severe or unexpected weather conditions or by political events in countries that comprise significant sources of commodity supply.

Energy

For each Series its primary energy market exposure is in oil, gas and other energy product price movements, often resulting from political developments and ongoing conflicts in the Middle East. Oil and gas prices can be volatile and substantial profits and losses have been and are expected to continue to be experienced in this market.

Other Trading Risks

As a result of leverage, small changes in the price of a Trading Company’s positions may result in substantial losses for a Series. Futures, forwards and options are typically traded on margin. This means that a small amount of capital can be used to invest in contracts of much greater total value. The resulting leverage means that a relatively small change in the market price of a contract can produce a substantial loss. Like other leveraged investments, any purchase or sale of a contract may result in losses in excess of the amount invested in that contract. The Trading Companies may lose more than their initial margin deposits on a trade.

The Trading Companies’ trading is subject to execution risks. Market conditions may make it impossible for the Trading Advisors to execute a buy or sell order at the desired price, or to close out an open position. Daily price fluctuation limits are established by the exchanges and approved by the CFTC. When the market price of a contract reaches its daily price fluctuation limit, no trades can be executed at prices outside the limit. The holder of a contract may therefore be locked into an adverse price movement for several days or more and lose considerably more than the initial margin put up to establish the position. Thinly traded or illiquid markets also can make it difficult or impossible to execute trades. The Trading Advisor’s positions are subject to speculative limits. The CFTC and domestic exchanges have established speculative position limits on the maximum futures position which any person, or group of persons acting in concert, may hold or control in particular futures contracts or options on futures contracts traded on U.S. commodity exchanges. Under current regulations, other accounts of the Trading Advisors are combined with the positions held by them on behalf of the applicable Trading Company for position limit purposes. This trading could preclude additional trading in these commodities by the Trading Advisors for the accounts of the Series.

Systematic strategies do not consider fundamental types of data and do not have the benefit of discretionary decision making. The assets of the Series are allocated to Trading Advisors that rely on technical, systematic strategies that do not take into account factors external to the market itself (although certain of these strategies may have minor discretionary elements incorporated into their systematic strategy). The widespread use of technical trading systems frequently results in numerous trading advisors attempting to execute similar trades at or about the same time, altering trading patterns and affecting market liquidity. Furthermore, the profit potential of trend-following systems may be diminished by the changing character of the markets, which may make historical price data (on which technical programs are based) only marginally relevant to future market patterns. Systematic strategies are developed on the basis of a statistical analysis of market prices. Consequently, any factor external to the market itself that dominates prices that a discretionary decision maker may take into account may cause major losses for a systematic strategy. For example, a pending political or economic event may be very likely to cause a major price movement, but a systematic strategy may continue to maintain positions indicated by its trading method that might incur major losses if the event proved to be adverse.

However, because certain of the Trading Advisors’ strategies involve some discretionary aspects in addition to their technical factors, certain of the Trading Advisors may occasionally use discretion in investing the assets of a Trading Company. For example, the Trading Advisors often use discretion in selecting contracts and markets to be followed. In exercising such discretion, such Trading Advisor may take positions opposite to those recommended by the Trading Advisor’s trading system or signals. Discretionary decision making may also result in a Trading Advisor failing to capitalize on certain price trends or making unprofitable trades in a situation where another trader relying solely on a systematic approach might not have done so. Furthermore, such use of discretion may not enable the relevant Series of the Trust to avoid losses, and in fact, such use of discretion may cause such Series to forego profits which it may have otherwise earned had such discretion not been used.

114

Qualitative Disclosures Regarding Means of Managing Risk Exposure

The means by which the Managing Owner attempts to manage the risk of the Trust’s open positions is essentially the same in all market categories traded. The Managing Owner applies risk management policies to trading which generally are designed to limit the total exposure of assets under management. In addition, the Managing Owner follows diversification guidelines which are often formulated in terms of the balanced volatility between markets and correlated groups.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of the management of the Managing Owner, including its Chief Executive Officer and Principal Financial Officer, the Trust evaluated the effectiveness of the design and operation of the disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), for the Trust and each Series as of June 30, 2015 (the “Evaluation Date”). Any control system, no matter how well designed and operated, can provide only reasonable (not absolute) assurance that its objectives will be met. Furthermore, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Based upon our evaluation, the Chief Executive Officer and Principal Financial Officer of the Managing Owner concluded that, as of the Evaluation Date, the disclosure controls and procedures for the Trust and each Series were effective to provide reasonable assurance that they are timely alerted to the material information relating to the Trust and each Series required to be included in the Trust’s periodic SEC filings.

Changes in Internal Control Over Financial Reporting

There were no changes in the Trust’s internal control over financial reporting for the quarter ended June 30, 2015 that have materially affected, or are reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Scope of Exhibit 31 Certifications

The certifications of the Chief Executive Officer and the Principal Financial Officer of the Managing Owner included as Exhibits 31.1 and 31.2, respectively, to this Form 10-Q apply not only to the Trust as a whole but also to each Series individually.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

Commencing in April and May 2013, the Managing Owner was required by the SEC and CFTC, respectively, to produce certain documents and certain of its current and former employees were called to provide testimony related to, among other things, the valuation of certain, previously-held, financial instruments entered into between a bank/counterparty and certain of the series operated by the Managing Owner at various points between October 2007 and June 2013. In February 2015, the SEC expanded the scope of its investigation to include the methodology behind how management fees for certain of the series operated by the Managing Owner were disclosed and calculated. In connection with its investigation, the SEC requested further information and took testimony from certain current and former employees regarding the management fees calculated on notional assets that were paid by each series to the Managing Owner prior to March 2011. These matters remain pending with the SEC and CFTC.

ITEM 1A. RISK FACTORS.

The section entitled “Risk Factors” beginning on page 18 of the Prospectus filed pursuant to Rule 424(b)(3) (File No. 333-185695) is incorporated by reference into this section.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

The following table provides information regarding the sale of unregistered Units by the Registrant for the three months ended June 30, 2015. The number of Units listed below for each transaction is the aggregate number of Units in the particular Series of the Trust purchased in such transaction. The consideration listed below for each transaction is, except as otherwise noted, the aggregate amount of cash paid for the Units purchased. For each transaction reported below, the price per Unit was NAV per Unit at the time of the transaction and the Managing Owner of the Trust was the purchaser of the Units. No underwriting discount or sales commission was paid or received with respect to any of the transactions reported below. The Registrant claims an exemption from registration of each of the transactions listed below under Section 4(a)(2) of the Securities Act, as a sale by an issuer not involving a public offering.

SERIES	DATE	UNITS	CONSIDERATION
NONE

One hundred percent of the offering proceeds from the sale of Units are initially available for the Series’ trading activities.

115

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

None

ITEM 6. EXHIBITS.

Exhibits (numbered in accordance with Item 601 of Regulation S-K)

31.1	Certification of Principal Executive Officer of the Managing Owner pursuant to Rules 13a-14(a) and 15(d)-14(a) of the Securities Exchange Act of 1934 (furnished herewith)
31.2	Certification of Principal Financial Officer of the Managing Owner pursuant to Rules 13a-14(a) and 15(d)-14(a) of the Securities Exchange Act of 1934 (furnished herewith)
32.1	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.2	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.3	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.4	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.5	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.6	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.7	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
32.8	Certification pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of The Sarbanes- Oxley Act of 2002. (furnished herewith)
101	Financials in XBRL format

116

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Balanced Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Heritage Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Winton Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Select Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Long/Short Commodity Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Diversified Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds
	Equinox Frontier Masters Fund,
	a Series of Equinox Frontier Funds
	(Registrant)
Date: August 14, 2015
	By:	/s/ ROBERT J. ENCK
		Robert J. Enck
		President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds

117

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Robert J. Enck, certify that:

1. I have reviewed this quarterly report of Equinox Frontier Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 14, 2015

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Vance Sanders, certify that:

1. I have reviewed this quarterly report of Equinox Frontier Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 14, 2015

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Equinox Frontier Funds.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of Equinox Frontier Funds

Date: August 14, 2015

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Balanced Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Balanced Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Balanced Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Balanced Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.3

Exhibit 32.3

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Select Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Select Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Select Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Select Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.4

Exhibit 32.4

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Long/Short Commodity Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Long/Short Commodity Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Long/Short Commodity Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Long/Short Commodity Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.5

Exhibit 32.5

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Winton Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Winton Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Winton Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Winton Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.6

Exhibit 32.6

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Heritage Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Heritage Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Heritage Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Heritage Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.7

Exhibit 32.7

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Diversified Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Diversified Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Diversified Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Diversified Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

EX-32.8

Exhibit 32.8

CERTIFICATION PURSUANT TO

18 U.S.C.§1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of the Equinox Frontier Masters Fund, a Series of Equinox Frontier Funds on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies, to the best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Equinox Frontier Masters Fund.

/s/ Robert J. Enck

Robert J. Enck

President and Chief Executive Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Masters Fund, a Series of Equinox Frontier Funds

/s/ Vance Sanders

Vance Sanders

Chief Financial Officer of Equinox Fund Management, LLC, the Managing Owner of the Equinox Frontier Masters Fund, a Series of Equinox Frontier Funds

Date: August 14, 2015

XML

Transactions with Affiliates - Fees Payable to Managing owner (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Management Fees Provided For Service [Line Items]
Incentive Fees	$ 94,737	$ 6,665,328
Management fees	433,161	468,154
Trading Fees	304,512	324,854
Equinox Frontier Diversified Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees	4,000	2,387,825
Management fees	83,476	86,486
Interest Fees	15,798	16,168
Service Fees	36,650	34,905
Trading Fees	124,327	132,984
Equinox Frontier Masters Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees	41,071	722,043
Management fees	60,312	64,497
Interest Fees	5,738	6,898
Service Fees	15,452	17,260
Trading Fees	50,813	55,912
Equinox Frontier Long/Short Commodity Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees	40,149	158,660
Management fees	45,710	45,361
Interest Fees	3,616	3,713
Service Fees	9,149	10,562
Trading Fees	21,626	24,436
Equinox Frontier Balanced Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees	9,517	1,793,318
Management fees	91,646	101,208
Interest Fees	101,040	84,976
Service Fees	156,201	167,151
Trading Fees	65,193	66,037
Equinox Frontier Select Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees		185,791
Management fees	26,065	27,835
Interest Fees	6,451	13,263
Service Fees	29,617	32,520
Trading Fees	9,285	10,119
Equinox Frontier Winton Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees		1,178,364
Management fees	102,252	114,823
Interest Fees	61,319	63,722
Service Fees	46,288	52,753
Trading Fees	24,963	26,690
Equinox Frontier Heritage Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fees		239,327
Management fees	23,699	27,944
Interest Fees	13,738	14,543
Service Fees	19,744	20,964
Trading Fees	$ 8,305	$ 8,676

XML

Trading Activities and Related Risks - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Trading Activity, Gains and Losses, Net [Line Items]
Percentage of loss realize by the holder of Units in Series	100.00%
The Series of Equinox Frontier Funds [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Percentage of loss realize by the holder of Units in Series	100.00%
Maximum [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Trading advisor's margin-to-equity ratio percentage	35.00%
Maximum [Member] | The Series of Equinox Frontier Funds [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Trading advisor's margin-to-equity ratio percentage	35.00%

XML

Investments in Unconsolidated Trading Companies - Investments in Unconsolidated Trading Companies (Detail) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Equinox Frontier Diversified Fund [Member]
Investment [Line Items]
Investments in unconsolidated trading companies, at fair value		$ 6,198,464	$ 6,594,379
Equinox Frontier Diversified Fund [Member] | Frontier Trading Companies I, II, VII, IX, XIV, XV, XXXIII and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		9.96%	9.11%
Investments in unconsolidated trading companies, at fair value		$ 6,198,464	$ 6,594,379
Equinox Frontier Masters Fund [Member]
Investment [Line Items]
Investments in unconsolidated trading companies, at fair value		$ 8,767,520	$ 7,901,978
Equinox Frontier Masters Fund [Member] | Frontier Trading Companies II, XIV, XV and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		38.63%	30.74%
Investments in unconsolidated trading companies, at fair value		$ 8,767,520	$ 7,901,978
Equinox Frontier Long/Short Commodity Fund [Member]
Investment [Line Items]
Investments in unconsolidated trading companies, at fair value		$ 3,896,994	$ 3,814,854
Equinox Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company I and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		24.26%	22.96%
Investments in unconsolidated trading companies, at fair value		$ 3,896,994	$ 3,814,854
Equinox Frontier Balanced Fund [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies	[1]		16.82%
Investments in unconsolidated trading companies, at fair value		$ 14,333,796	$ 18,343,927
Equinox Frontier Balanced Fund [Member] | Frontier Trading Companies II, VII, XV and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		14.77%	16.92%
Investments in unconsolidated trading companies, at fair value		$ 14,333,796	$ 18,343,927
Equinox Frontier Select Fund [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies	[1]		0.00%
Investments in unconsolidated trading companies, at fair value		$ 4,013,269	$ 8,102,141
Equinox Frontier Select Fund [Member] | Frontier Trading Companies XV, XXXVIII and XXXIX [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		20.83%	53.06%
Investments in unconsolidated trading companies, at fair value		$ 4,013,269	$ 8,102,141
Equinox Frontier Winton Fund [Member]
Investment [Line Items]
Investments in unconsolidated trading companies, at fair value		$ 6,749,039	$ 7,479,658
Equinox Frontier Winton Fund [Member] | Frontier Trading Company II and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		18.35%	18.68%
Investments in unconsolidated trading companies, at fair value		$ 6,749,039	$ 7,479,658
Equinox Frontier Heritage Fund [Member]
Investment [Line Items]
Investments in unconsolidated trading companies, at fair value		$ 1,398,043	$ 1,543,386
Equinox Frontier Heritage Fund [Member] | Frontier Trading Companies II and XXXVIII [Member]
Investment [Line Items]
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies		8.80%	9.32%
Investments in unconsolidated trading companies, at fair value		$ 1,398,043	$ 1,543,386

[1] Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

XML

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Monthly Averages of Futures Contracts

The following tables summarize the monthly averages of futures contracts bought and sold for each respective Series of the Trust:

For the Three Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		546		584
Equinox Frontier Balanced Fund		1,797		1,774
Equinox Frontier Diversified Fund		2,769		2,726

For the Three Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		67		66
Equinox Frontier Balanced Fund		3,740		3,748

For the Six Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		1,255		1,304
Equinox Frontier Balanced Fund		4,039		3,985
Equinox Frontier Diversified Fund		6,368		6,338

For the Six Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		3,593		3,902
Equinox Frontier Balanced Fund		8,390		8,355
Equinox Frontier Masters Fund		79		113

Realized Trading Revenue from Futures, Forwards and Options

The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(201,265	)	$	(370,488	)	$	(145,932	)
Currencies		(645,245	)		(1,169,704	)		259,547
Energies		(440,367	)		119,419			(612,864	)
Agriculturals		(104,895	)		(75,520	)		(235,594	)
Interest rates		(848,640	)		(1,397,750	)		427,927
Stock indices		76,440			211,184			787,414
Realized trading income/(loss)(1)	$	(2,163,972	)	$	(2,682,859	)	$	480,498

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	21,000		$	(318,434	)
Currencies		—			(391,938	)
Energies		96,785			(96,424	)
Agriculturals		(257,049	)		(138,369	)
Interest rates		3,989			2,409,585
Stock indices		(9,090	)		2,647,014
Realized trading income/(loss)(1)	$	(144,365	)	$	4,111,434

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(746,843	)	$	(744,338	)	$	(626,206	)
Currencies		(311,552	)		521,161			1,559,721
Energies		253,545			685,468			19,336
Agriculturals		(132,603	)		(34,965	)		(192,326	)
Interest rates		206,485			712,111			5,125,887
Stock indices		852,623			2,453,383			2,995,255
Realized trading income/(loss)(1)	$	121,655		$	3,592,820		$	8,881,667

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(60,704	)	$	(988,064	)	$	(5,850	)
Currencies		(278,672	)		(191,348	)		(130,109	)
Energies		(1,920,468	)		(53,467	)		(783	)
Agriculturals		(252,807	)		159,728			(19,987	)
Interest rates		(223,175	)		5,794,195			471,687
Stock indices		154,966			3,009,552			10,927
Realized trading income/(loss)(1)	$	(2,580,860	)	$	7,730,596		$	325,885

(1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options.

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	138,192		$	(77,032	)	$	6,780
Currencies		(98,437	)		165,879			(364,623	)
Energies		(83,883	)		(84,762	)		(92,955	)
Agriculturals		(516,454	)		218,632			(521,317	)
Interest rates		(139,963	)		(683,706	)		(1,291,495	)
Stock indices		(202,114	)		(586,952	)		(820,705	)
Change in unrealized trading income/(loss)(1)	$	(902,659	)	$	(1,047,941	)	$	(3,084,315	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	52,921		$	(4,268	)
Currencies		(14,053	)		(18,442	)
Energies		51,961			219,801
Agriculturals		1,619,030			396,753
Interest rates		24,050			1,252,653
Stock indices		33,223			(1,222,734	)
Change in unrealized trading income/(loss)(1)	$	1,767,132		$	623,763

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	545,034		$	7,712		$	176,379
Currencies		(26,264	)		(35,662	)		(1,067,105	)
Energies		(744,229	)		(630,250	)		(403,177	)
Agriculturals		(437,516	)		113,791			(226,857	)
Interest rates		(576,893	)		(931,136	)		(1,605,340	)
Stock indices		(366,874	)		(938,211	)		(86,106	)
Change in unrealized trading income/(loss)(1)	$	(1,606,742	)	$	(2,413,756	)	$	(3,212,206	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(162,388	)	$	(253,715	)	$	73,476
Currencies		(6,439	)		(190,539	)		(195,840	)
Energies		1,631,427			208,535			(135,932	)
Agriculturals		(574,982	)		564,384			(73,196	)
Interest rates		322,580			1,123,141			55,085
Stock indices		(248,852	)		(2,987,207	)		193,070
Change in unrealized trading income/(loss)(1)	$	961,346		$	(1,535,401	)	$	(83,337	)

(1) Amounts recorded in the Statements of Operations under Net change in open trade equity (deficit).

Offsetting of Derivative Assets and Liabilities

The following tables present gross and net information about the Series’ assets and liabilities subject to master netting arrangements as disclosed on the statements of financial condition as of June 30, 2015 and December 31, 2014.

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	116,357	$	(895,320	)	$	(778,963	)
Swap Contracts		18,491,634		—			18,491,634
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	—	$	(571,551	)	$	(571,551	)
Options Purchased		374,470		—			374,470
Options Written		—		(219,660	)		(219,660	)
Swap Contracts	$	7,615,169	$	—			7,615,169
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	4,304,209	$	—			4,304,209
Equinox Frontier Heritage Fund
Swap Contracts	$	7,809,251	$	—			7,809,251
Equinox Frontier Select Fund
Open Trade Equity/(Deficit)	$	153,408	$	(97,452	)	$	55,956

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	4,281,391	$	(983,842	)	$	3,297,549
Swap Contracts		18,246,954		—			18,246,954
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	3,215,206	$	—		$	3,215,206
Options Purchased		288,413		—			288,413
Options Written		—		(253,018	)		(253,018	)
Swap Contracts		6,570,408		—			6,570,408
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	3,633,060	$	—		$	3,633,060
Equinox Frontier Heritage Fund
Swap Contracts	$	7,540,465	$	—		$	7,540,465

Equinox Frontier Funds [Member]

Realized Trading Revenue from Futures, Forwards and Options

The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	787,054
Currencies		322,356
Energies		3,239,657
Agriculturals		250,296
Interest rates		(4,205,211	)
Stock indices		(3,588,047	)
Change in unrealized trading income/(loss)(1)	$	(3,193,895	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	891,238
Currencies		(2,005,957	)
Energies		(4,686,989	)
Agriculturals		438,060
Interest rates		(4,395,416	)
Stock indices		(3,736,272	)
Change in unrealized trading income/(loss)(1)	$	(13,495,336	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	(1,671,013	)
Currencies		(5,995,199	)
Energies		(6,800,965	)
Agriculturals		66,907
Interest rates		(1,770,084	)
Stock indices		1,991,665
Realized trading income/(loss)(1)	$	(14,178,689	)

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	(3,529,813	)
Currencies		4,134,192
Energies		4,751,972
Agriculturals		(81,778	)
Interest rates		8,150,824
Stock indices		12,383,579
Realized trading income/(loss)(1)	$	25,808,976

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	1,029,170
Currencies		450,876
Energies		300,637
Agriculturals		749,674
Interest rates		4,544,705
Stock indices		(1,089,139	)
Change in unrealized trading income/(loss)(1)	$	5,985,923
Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(947,051	)
Currencies		(3,956,074	)
Energies		1,967,434
Agriculturals		(471,767	)
Interest rates		4,765,842
Stock indices		(6,400,414	)
Change in unrealized trading income/(loss)(1)	$	(5,042,030	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	(2,663,349	)
Currencies		(786,959	)
Energies		(234,908	)
Agriculturals		(1,684,548	)
Interest rates		4,682,671
Stock indices		6,048,688
Realized trading income/(loss)(1)	$	5,361,595
Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(3,401,979	)
Currencies		(441,730	)
Energies		(1,894,183	)
Agriculturals		(1,738,025	)
Interest rates		7,301,379
Stock indices		5,687,637
Realized trading income/(loss)(1)	$	5,513,099

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

Offsetting of Derivative Assets and Liabilities

The following tables present gross and net information about the Trust’s assets and liabilities subject the master netting arrangements as disclosed on the consolidated statements of financial condition as of June 30, 2015 and December 31, 2014:

Offsetting of Derivative Assets and Liabilities

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	—	$	(17,281	)	$	(17,281	)
Options Purchased		3,819,429		—			3,819,429
Options Written		—		(2,581,870	)		(2,581,870	)
Swap Contracts		38,220,263		—			38,220,263

Offsetting of Derivative Assets and Liabilities

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	17,120,111	$	(2,295,689	)	$	14,824,422
Options Purchased		9,075,883		—			9,075,883
Options Written		—		(8,963,838	)		(8,963,838	)
Swap Contracts		35,990,887		—			35,990,887

XML

Derivative Instruments and Hedging Activities - Monthly Averages of Futures Contracts (Detail) - Future [Member] - Contract	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Equinox Frontier Select Fund [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Numbers of Instruments Bought	546		6,368
Derivative Numbers of Instruments Sold	584		6,338
Equinox Frontier Balanced Fund [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Numbers of Instruments Bought	1,797	3,740	1,255	8,390
Derivative Numbers of Instruments Sold	1,774	3,748	1,304	8,355
Equinox Frontier Diversified Fund [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Numbers of Instruments Bought	2,769		4,039	79
Derivative Numbers of Instruments Sold	2,726		3,985	113
Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Numbers of Instruments Bought		67		3,593
Derivative Numbers of Instruments Sold		66		3,902

XML

Transactions with Affiliates - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Diligence fees			0.12%
Incentive fees payable to Managing Owner	$ 94,737		$ 94,737		$ 6,665,328
Management fees	433,161		433,161		468,154
Interest payable to Managing Owner	207,941		207,941		203,086
Trading fees payable to Managing Owner	304,512		304,512		$ 324,854
Incentive Fees	94,738	$ 2,554,722	4,997,512	$ 3,552,049
Management Fees	1,280,518	1,498,648	2,569,188	3,128,333
Trading Fees	886,592	798,997	1,807,859	1,704,117
Bornhoft Group Corporation [Member]
Managing Owner pays to Bornhoft Group Corporation, monthly fee of NAV of the Trust					0.10%
Monthly service fee for investment and advisor services	139,848	221,095
Bornhoft Group Corporation [Member] | First Year [Member]
Monthly service fee for investment and advisor services					$ 1,100,000
Bornhoft Group Corporation [Member] | Second Year [Member]
Monthly service fee for investment and advisor services					600,000
Bornhoft Group Corporation [Member] | Third Year [Member]
Monthly service fee for investment and advisor services					300,000
Equinox Financial Group [Member]
Management Fees	425,000	91,667	730,000	241,667
Solon Capital, LLC [Member]
Managing and marketing services fee payment	$ 307,442	272,694	$ 623,715	581,681
The Series of Equinox Frontier Funds [Member]
Managing Owner contributions to Series percent			1.00%
Minimum purchase commitment	1.00%		1.00%
Interest income payment to managing owner	$ 593,987	579,315	$ 1,197,024	1,277,706
The Series of Equinox Frontier Funds [Member] | Class 1, Class 1AP And Class 1a [Member]
Service fee paid to managing owner for payment to selling agents			3.00%
Equinox Frontier Balanced Fund [Member]
Incentive Fees			25.00%
Prepaid service fees paid or owing			$ 4,500	(2,936)
Incentive fees payable to Managing Owner	9,517		9,517		1,793,318
Management fees	91,646		91,646		101,208
Interest payable to Managing Owner	101,040		101,040		84,976
Trading fees payable to Managing Owner	65,193		65,193		66,037
Trailing service fees payable to Managing Owner	156,201		156,201		167,151
Incentive Fees	9,517	902,054	1,496,474	1,453,340
Management Fees	267,377	264,152	526,972	554,537
Service Fees-Class 1	556,081	492,255	1,118,882	1,041,703
Trading Fees	$ 194,144	167,758	$ 389,488	355,157
Equinox Frontier Balanced Fund [Member] | Maximum [Member]
Trading fees			0.75%
Equinox Frontier Balanced Fund [Member] | Class 1a and Class 2a [Member]
Managing Owner contributions to Series percent			1.00%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Equinox Frontier Balanced Fund [Member] | Class 1, Class 2 and Class 3 [Member]
Annual rate of management fees			0.50%
Equinox Frontier Balanced Fund [Member] | Class, Class 1AP and Class 2 [Member] | Maximum [Member]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%		2.00%
Equinox Frontier Balanced Fund [Member] | Class1 and Class 2 [Member] | Maximum [Member]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%		2.00%
Equinox Frontier Balanced Fund [Member] | Class 1a, Class 2a and Class 3a [Member]
Annual rate of management fees			1.00%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Equinox Frontier Long/Short Commodity Fund [Member]
Incentive Fees			20.00%
Prepaid service fees paid or owing			$ 530	21
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Incentive fees payable to Managing Owner	$ 40,149		$ 40,149		158,660
Management fees	45,710		45,710		45,361
Interest payable to Managing Owner	3,616		3,616		3,713
Trading fees payable to Managing Owner	21,626		21,626		24,436
Trailing service fees payable to Managing Owner	9,149		9,149		10,562
Incentive Fees	40,149		279,366
Management Fees	131,237	223,050	254,273	509,680
Service Fees-Class 1	29,629	30,304	61,529	68,868
Trading Fees	$ 65,150	64,027	$ 134,078	146,001
Equinox Frontier Long/Short Commodity Fund [Member] | Maximum [Member]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a and Class 2a [Member]
Diligence fees			0.12%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a and Class 2a [Member] | Maximum [Member]
Trading fees			2.25%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1, Class 2 and Class 3 [Member]
Annual rate of management fees			3.50%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1, Class 2 and Class 3 [Member] | Maximum [Member]
Trading fees			0.75%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1, Class 1AP, Class 2 And Class 3 [Member] | Maximum [Member]
Trading fees			0.75%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a, Class 2a and Class 3a [Member]
Annual rate of management fees			2.00%
Equinox Frontier Select Fund [Member]
Annual rate of management fees			2.50%
Incentive Fees			20.00%
Prepaid service fees paid or owing			$ 211	(160)
Incentive fees payable to Managing Owner					185,791
Management fees	$ 26,065		26,065		27,835
Interest payable to Managing Owner	6,451		6,451		13,263
Trading fees payable to Managing Owner	9,285		9,285		10,119
Trailing service fees payable to Managing Owner	29,617		29,617		32,520
Incentive Fees		26,677	158,971	26,677
Management Fees	78,206	140,286	158,278	278,724
Service Fees-Class 1	101,967	97,799	208,868	203,387
Trading Fees	$ 28,454	27,150	$ 58,347	56,552
Equinox Frontier Select Fund [Member] | Maximum [Member]
Trading fees			0.75%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%		2.00%
Equinox Frontier Winton Fund [Member]
Annual rate of management fees			2.00%
Incentive Fees			20.00%
Prepaid service fees paid or owing			$ 7,984	(3,280)
Incentive fees payable to Managing Owner					1,178,364
Management fees	$ 102,252		102,252		114,823
Interest payable to Managing Owner	61,319		61,319		63,722
Trading fees payable to Managing Owner	24,963		24,963		26,690
Trailing service fees payable to Managing Owner	46,288		46,288		52,753
Incentive Fees		415,629	715,409	415,629
Management Fees	307,212	287,648	630,317	568,021
Service Fees-Class 1	198,125	177,981	403,462	360,945
Trading Fees	$ 74,984	64,049	$ 151,960	128,644
Equinox Frontier Winton Fund [Member] | Maximum [Member]
Trading fees			0.75%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%		2.00%
Equinox Frontier Heritage Fund [Member]
Annual rate of management fees			2.50%
Incentive Fees			20.00%
Prepaid service fees paid or owing			$ 595	(1,171)
Incentive fees payable to Managing Owner					239,327
Management fees	$ 23,699		23,699		27,944
Interest payable to Managing Owner	13,738		13,738		14,543
Trading fees payable to Managing Owner	8,305		8,305		8,676
Trailing service fees payable to Managing Owner	19,744		19,744		20,964
Incentive Fees		86,999	132,676	86,999
Management Fees	70,986	81,966	148,884	161,975
Service Fees-Class 1	74,974	65,875	151,991	138,600
Trading Fees	$ 25,063	21,279	$ 50,754	44,378
Equinox Frontier Heritage Fund [Member] | Maximum [Member]
Trading fees			0.75%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%		2.00%
Equinox Frontier Diversified Fund [Member]
Annual rate of management fees			0.75%
Diligence fees			0.12%
Incentive Fees			25.00%
Prepaid service fees paid or owing			$ 1,173	(2,476)
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Incentive fees payable to Managing Owner	$ 4,000		$ 4,000		2,387,825
Management fees	83,476		83,476		86,486
Interest payable to Managing Owner	15,798		15,798		16,168
Trading fees payable to Managing Owner	124,327		124,327		132,984
Trailing service fees payable to Managing Owner	36,650		36,650		34,905
Incentive Fees	4,000	954,829	1,638,242	1,386,913
Management Fees	243,004	271,073	489,308	547,629
Service Fees-Class 1	108,250	125,184	230,168	273,595
Trading Fees	$ 351,096	307,242	$ 721,898	649,807
Equinox Frontier Diversified Fund [Member] | Maximum [Member]
Trading fees			2.25%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Equinox Frontier Masters Fund [Member]
Annual rate of management fees			2.00%
Diligence fees			0.12%
Incentive Fees			20.00%
Prepaid service fees paid or owing			$ 74	1,264
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Incentive fees payable to Managing Owner	$ 41,071		$ 41,071		722,043
Management fees	60,312		60,312		64,497
Interest payable to Managing Owner	5,738		5,738		6,898
Trading fees payable to Managing Owner	50,813		50,813		55,912
Trailing service fees payable to Managing Owner	15,452		15,452		17,260
Incentive Fees	41,072	168,094	576,374	181,806
Management Fees	182,496	230,233	361,156	507,313
Service Fees-Class 1	60,813	76,310	125,991	180,593
Trading Fees	$ 147,701	147,195	$ 301,334	323,110
Equinox Frontier Masters Fund [Member] | Maximum [Member]
Trading fees			2.25%
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%		20.00%
Equinox Frontier Funds [Member]
Managing Owner contributions to Series percent			1.00%
Minimum purchase commitment	1.00%		1.00%
Incentive fees payable to Managing Owner	$ 94,737		$ 94,737		6,665,328
Management fees	433,161		433,161		468,154
Interest payable to Managing Owner	207,941		207,941		203,086
Trading fees payable to Managing Owner	304,512		304,512		324,854
Trailing service fees payable to Managing Owner	313,101		313,101		$ 336,115
Incentive Fees	94,738	2,554,722	4,997,512	3,552,049
Management Fees	1,280,518	1,498,648	2,569,188	3,128,333
Service Fees-Class 1	1,129,839	1,065,882	2,300,891	2,268,039
Trading Fees	886,592	798,997	1,807,859	1,704,117
Prepaid service fees received or receivable	14,977	(7,682)
Interest income payment to managing owner	$ 593,987	579,315	$ 1,197,024	1,277,706
Equinox Frontier Funds [Member] | Bornhoft Group Corporation [Member]
Managing Owner pays to Bornhoft Group Corporation, monthly fee of NAV of the Trust	0.10%		0.10%
Monthly service fee for investment and advisor services	$ 139,848	221,095
Equinox Frontier Funds [Member] | Bornhoft Group Corporation [Member] | First Year [Member]
Monthly service fee for investment and advisor services	1,100,000
Equinox Frontier Funds [Member] | Bornhoft Group Corporation [Member] | Second Year [Member]
Monthly service fee for investment and advisor services	600,000
Equinox Frontier Funds [Member] | Bornhoft Group Corporation [Member] | Third Year [Member]
Monthly service fee for investment and advisor services	300,000
Equinox Frontier Funds [Member] | Equinox Financial Group [Member]
Management Fees	425,000	91,667	$ 730,000	241,667
Equinox Frontier Funds [Member] | Solon Capital, LLC [Member]
Managing and marketing services fee payment	$ 307,442	$ 272,694	$ 623,715	$ 581,681
Equinox Frontier Funds [Member] | Class 1, Class 1AP And Class 1a [Member]
Service fee paid to managing owner for payment to selling agents			3.00%

XML

Derivative Instruments and Hedging Activities - Additional Information (Detail) - Equinox Frontier Funds [Member] - Future [Member] - Contract	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Derivative Numbers of Instruments Bought	10,232	9,319	10,232	9,319
Derivative Numbers of Instruments Sold	10,304	9,124	10,304	9,124

XML

Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Significant Accounting Policies

2. Significant Accounting Policies

The following are the significant accounting policies of the Series of the Trust.

Basis of Presentation—The Series of the Trust follow U.S. Generally Accepted Accounting Principles (“GAAP”), as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

Consolidation—The Series, through investing in the Trading Companies, authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. Trading Companies in which a Series has a controlling and majority equity interest are consolidated by such Series. Investments in Trading Companies in which a Series does not have a controlling and majority interest are accounted for under the equity method, which approximates fair value. Fair value represents the proportionate share of the Series’ interest in the NAV in a Trading Company. The equity interest held by Series of the Trust is shown as investments in unconsolidated trading companies in the statements of financial condition. The income or loss attributable thereto in proportion of investment level is shown in the statements of operations as change in fair value of investments in unconsolidated trading companies.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Balanced Fund included the assets and liabilities of its majority owned Trading Companies. These Trading Companies include Frontier Trading Company XIV, LLC, Frontier Trading Company XXIII, LLC, Frontier Trading Company XXIX, LLC and Frontier Trading Company XXXIV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Balanced Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Long/Short Commodity Fund included the assets and liabilities of its majority owned Trading Company, Frontier Trading Company XXXVII, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Long/Short Commodity Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Diversified Fund included the assets and liabilities of its majority owned Frontier Trading Company I, LLC and, Frontier Trading Company XXXV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Diversified Fund included the earnings of its majority owned Trading Companies listed above.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Heritage Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XXXIX, LLC.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Select Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XV, LLC except for the earnings from January 1, 2015 to January 2, 2015.

Each of the Series has invested in Frontier Trading Company XXXVIII, LLC on the same basis as its ownership in the cash pool. Frontier Trading Company XXXVIII, LLC assets, liabilities and earnings are allocated to all the Series of the Trust based on their proportionate share of the cash pool.

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates, and such differences could be material.

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of six months or less. This cash is not restricted.

Interest Income—Aggregate interest income from all sources, including U.S. Treasuries and assets held at a futures commission merchant (“FCM”), of up to two percentage points of the aggregate percentage yield (annualized) of net asset value less any fair market value related to swaps, is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1, and Class 2 only), Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund and Equinox Frontier Balanced Fund (Class 1a, Class 2a and Class 3a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Series, and shown net on the statement of operations.

U.S. Treasury Securities are pooled for purposes of maximizing returns on these assets to investors of all Series. Interest income from pooled cash management assets is recognized on the accrual basis and allocated daily to each Series based upon its daily proportion of ownership of the pool.

U.S. Treasury Securities—U.S. Treasury Securities are allocated to all Series of the Trust based on each Series’ percentage ownership in the pooled cash management assets as of the reporting date. They are reported at fair value as Level 1 inputs under ASC 820,Fair Value Measurements and Disclosures (“ASC 820”). The Series of the Trust valued U.S. Treasury Securities at fair value and recorded the daily change in value in the statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants—The Series of the Trust deposit assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust, with respect to the Series, earns interest income on its assets deposited with the FCM.

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the statements of financial condition as open trade equity (deficit) as there exists a right of offset of unrealized gains or losses in accordance with ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest is recognized in the period earned and the instruments are marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the statements of operations.

Foreign Currency Transactions—The Series’ functional currency is the U.S. dollar, however, they transact business in currencies other than the U.S. dollar. The Series do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings—Each Series of the Trust may maintain between three or six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a). All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as Swaps that are directly allocated to a specific series). The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Company, or Companies.

Investments and Swaps—The Trust, with respect to the Series, records investment transactions on a trade date basis and at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable; and quality control testing procedures in place.

Income Taxes—The Trust, with respect to the Series, applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust, with respect to the Series’, financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust, with respect to the Series. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust, with respect to the Series, is treated as a partnership for federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust, with respect to the Series, are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, selling agent service fees and all other operating expenses and continuing offering costs of the Trust, with respect to the Series.

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents.

These service fees are part of the offering costs of the Trust, with respect to the Series, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial positions or results of operations.

Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

In February, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). ASU 2015-02 is effective for periods beginning after December 15, 2015. The adoption of ASU 2015-02 is not expected to have a material effect on the Trust’s financial statements. Early adoption is permitted. In May 2014 the FASB issued a final standard on revenue from contracts with customers. The standard, issued as FASB ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The ASU is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. A full retrospective or modified retrospective approach may be taken to adopt the guidance in the ASU. The Trust is currently evaluating the impact of the provisions of ASU 2014-09 on its consolidated financial position, results of operations and related disclosures.

Subsequent Events—The Trust, with respect to the Series, follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued.

Equinox Frontier Funds [Member]

Significant Accounting Policies

2. Significant Accounting Policies

The following are the significant accounting policies of the Trust.

Basis of Presentation—The Trust follows GAAP, as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

Consolidation—Each Series of the Trust invests in Trading Companies who authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. The Trading Companies and Series of the Trust are consolidated by the Trust.

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates and such differences could be material.

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of three months or less. This cash is not restricted.

Interest Income—Aggregate interest income from all sources, including U.S. Treasury securities and assets held at FCMs, up to the first two percentage points or 20% of the aggregate percentage yield (annualized) is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Trust, and shown net on the consolidated statement of operations.

U.S. Treasury Securities—U.S. Treasury Securities are reported at fair value as Level 1 inputs under ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Trust values U.S. Treasury Securities at fair value and records the daily change in value in the consolidated statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the consolidated statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants—The Trust deposits assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust earns interest income on its assets deposited with the FCM.

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the consolidated statements of financial condition as a net unrealized gain or loss, as there exists a right of offset of unrealized gains or losses in accordance with FASB ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations.

Foreign Currency Transactions—The Series of the Trust’s functional currency is the U.S. dollar; however, they transact business in currencies other than the U.S. dollar. The Series of the Trust do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings—Each Series of the Trust may maintain three to six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Investments and Swaps—The Trust records investment transactions on a trade date basis and all investments are recorded at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable, and quality control testing procedures in place.

Income Taxes—The Trust applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust’s financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust for the six months ended June 30, 2015. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust is treated as a partnership for Federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material Federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, Selling Agent Service fees and all other operating expenses and continuing offering costs of the Trust.

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to Selling Agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such Selling Agents.

These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial position or results of operations.

Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

In February, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). ASU 2015-02 is effective for periods beginning after December 15, 2015. The adoption of ASU 2015-02 is not expected to have a material effect on the Trust’s consolidated financial statements. Early adoption is permitted. In May 2014 the FASB issued a final standard on revenue from contracts with customers. The standard, issued as FASB ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The ASU is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. A full retrospective or modified retrospective approach may be taken to adopt the guidance in the ASU. The Trust is currently evaluating the impact of the provisions of ASU 2014-09 on its consolidated financial position, results of operations and related disclosures.

Subsequent Events—The Trust follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued. No events or transactions requiring recognition or disclosure have been identified.

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Derivative Instruments and Hedging Activities - Realized Trading Revenue from Futures, Forwards and Options (Detail) - USD ($)		3 Months Ended				6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Equinox Frontier Long/Short Commodity Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		$ (1,431,010)		$ (537,985)		$ 1,582,694		$ (831,145)
Equinox Frontier Balanced Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(1,989,930)		998,348		5,558,996		(3,362,437)
Equinox Frontier Diversified Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(2,141,766)		1,576,944		3,047,711		1,919,359
Equinox Frontier Select Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		7,618		72,643		64,112		591,728
Realized Trading Revenue [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(14,178,689)	[1]	5,361,595	[2]	25,808,976	[1]	5,513,099	[2]
Realized Trading Revenue [Member] | Metals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(1,671,013)		(2,663,349)		(3,529,813)		(3,401,979)
Realized Trading Revenue [Member] | Currencies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(5,995,199)		(786,959)		4,134,192		(441,730)
Realized Trading Revenue [Member] | Energies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(6,800,965)		(234,908)		4,751,972		(1,894,183)
Realized Trading Revenue [Member] | Agriculturals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		66,907		(1,684,548)		(81,778)		(1,738,025)
Realized Trading Revenue [Member] | Interest rates [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(1,770,084)		4,682,671		8,150,824		7,301,379
Realized Trading Revenue [Member] | Stock indices [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		1,991,665		6,048,688		12,383,579		5,687,637
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options	[3]			(144,365)				(2,580,860)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Metals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options				21,000				(60,704)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Currencies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options								(278,672)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Energies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options				96,785				(1,920,468)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Agriculturals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options				(257,049)				(252,807)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Interest rates [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options				3,989				(223,175)
Realized Trading Revenue [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Stock indices [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options				(9,090)				154,966
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options	[3]	(2,682,859)		4,111,434		3,592,820		7,730,596
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Metals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(370,488)		(318,434)		(744,338)		(988,064)
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Currencies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(1,169,704)		(391,938)		521,161		(191,348)
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Energies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		119,419		(96,424)		685,468		(53,467)
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Agriculturals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(75,520)		(138,369)		(34,965)		159,728
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Interest rates [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(1,397,750)		2,409,585		712,111		5,794,195
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Stock indices [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		211,184		$ 2,647,014		2,453,383		3,009,552
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options	[3]	480,498				8,881,667		325,885
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Metals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(145,932)				(626,206)		(5,850)
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Currencies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		259,547				1,559,721		(130,109)
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Energies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(612,864)				19,336		(783)
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Agriculturals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(235,594)				(192,326)		(19,987)
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Interest rates [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		427,927				5,125,887		471,687
Realized Trading Revenue [Member] | Equinox Frontier Diversified Fund [Member] | Stock indices [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		787,414				2,995,255		$ 10,927
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options	[3]	(2,163,972)				121,655
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Metals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(201,265)				(746,843)
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Currencies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(645,245)				(311,552)
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Energies [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(440,367)				253,545
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Agriculturals [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(104,895)				(132,603)
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Interest rates [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		(848,640)				206,485
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Stock indices [Member]
Derivative [Line Items]
Realized Trading Revenue from Futures, Forwards and Options		$ 76,440				$ 852,623

[1] Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

[2] Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

[3] Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options.

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Fair Value Measurements - Change in Level 3 Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Equinox Frontier Diversified Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of investments in unconsolidated trading companies	$ 1,411,843	$ (3,363,720)	$ (2,060,866)	$ (884,399)
Equinox Frontier Diversified Fund [Member] | Level 3 Inputs [Member] | Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			6,570,408	3,437,632	$ 3,437,632
Included in earnings-realized			0		0
Included in earnings-unrealized			1,044,761		3,132,776
Proceeds from sales of investments of unconsolidated trading companies			0		0
Change in ownership allocation of total return swaps			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	7,615,169		7,615,169		6,570,408
Equinox Frontier Long/Short Commodity Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of investments in unconsolidated trading companies	512,304	466,714	(1,422,221)	1,012,360
Equinox Frontier Long/Short Commodity Fund [Member] | Level 3 Inputs [Member] | Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			3,633,060	2,456,546	2,456,546
Included in earnings-realized			0		0
Included in earnings-unrealized			(328,851)		1,176,514
Purchases of investments			1,000,000
Proceeds from sales of investments of unconsolidated trading companies			0		0
Change in ownership allocation of total return swaps			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	4,304,209		4,304,209		3,633,060
Equinox Frontier Balanced Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of investments in unconsolidated trading companies	854,236	(197,789)	(4,668,213)	3,884,435
Equinox Frontier Balanced Fund [Member] | Level 3 Inputs [Member] | Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			18,246,954	10,122,003	10,122,003
Included in earnings-realized			0		0
Included in earnings-unrealized			244,680		8,124,951
Proceeds from sales of investments of unconsolidated trading companies			0		0
Change in ownership allocation of total return swaps			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	18,491,634		18,491,634		18,246,954
Equinox Frontier Heritage Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of investments in unconsolidated trading companies	739,054	(557,360)	(122,347)	(254,158)
Equinox Frontier Heritage Fund [Member] | Level 3 Inputs [Member] | Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			7,540,465	5,435,184	5,435,184
Included in earnings-realized			0		0
Included in earnings-unrealized			268,786		2,105,281
Proceeds from sales of investments of unconsolidated trading companies			0		0
Change in ownership allocation of total return swaps			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	7,809,251		7,809,251		7,540,465
Equinox Frontier Select Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of investments in unconsolidated trading companies	856,713	$ (768,926)	(175,736)	328,501
Equinox Frontier Select Fund [Member] | Level 3 Inputs [Member] | Unconsolidated Trading Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			3,539,498	2,415,637	2,415,637
Change in fair value of investments in unconsolidated trading companies			100,153		1,123,861
Proceeds from sales of investments of unconsolidated trading companies			0		0
Change in ownership allocation			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	3,639,651		3,639,651		3,539,498
Equinox Frontier Funds [Member] | Level 3 Inputs [Member] | Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance of recurring Level 3 assets			35,990,887	$ 21,455,529	21,455,529
Included in earnings-realized			0		0
Included in earnings-unrealized			1,229,376		14,535,358
Purchases of investments			1,000,000
Proceeds from sales of investments of unconsolidated trading companies			0		0
Transfers in and/or out of Level 3			0		0
Balance of recurring Level 3 assets	$ 38,220,263		$ 38,220,263		$ 35,990,887

XML

Fair Value Measurements - Financial Asset Portfolio, by Series, Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	$ 38,220,263	$ 35,990,887
U.S. Treasury Securities	128,817,968	139,953,516
Purchased Options	3,819,429	9,075,883
Options Written	(2,581,870)	(8,963,838)
Equinox Frontier Diversified Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	7,615,169	6,570,408
U.S. Treasury Securities	29,071,240	31,051,659
Purchased Options	374,470	288,413
Options Written	(219,660)	(253,018)
Equinox Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	6,198,464	6,594,379
Open Trade Equity (Deficit)	(571,551)	3,215,206
Options Purchased	374,470	288,413
Options Written	(219,660)	(253,018)
Swap Contracts	7,615,169	6,570,408
U.S. Treasury Securities	29,071,240	31,051,659
Equinox Frontier Masters Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury Securities	11,913,754	16,217,173
Equinox Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	8,767,520	7,901,978
U.S. Treasury Securities	11,913,754	16,217,173
Equinox Frontier Long/Short Commodity Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	4,304,209	3,633,060
U.S. Treasury Securities	6,743,330	8,191,519
Equinox Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	3,896,994	3,814,854
Swap Contracts	4,304,209	3,633,060
U.S. Treasury Securities	6,743,330	8,191,519
Equinox Frontier Balanced Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	18,491,634	18,246,954
U.S. Treasury Securities	47,350,232	41,625,860
Equinox Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	14,333,796	18,343,927
Open Trade Equity (Deficit)	(778,963)	3,297,549
Swap Contracts	18,491,634	18,246,954
U.S. Treasury Securities	47,350,232	41,625,860
Equinox Frontier Select Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury Securities	2,415,549	6,476,939
Equinox Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	4,013,269	8,102,141
Open Trade Equity (Deficit)	55,956
U.S. Treasury Securities	2,415,549	6,476,939
Equinox Frontier Winton Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury Securities	25,617,478	29,593,974
Equinox Frontier Winton Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	6,749,039	7,479,658
U.S. Treasury Securities	25,617,478	29,593,974
Equinox Frontier Heritage Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	7,809,251	7,540,465
U.S. Treasury Securities	5,706,384	6,796,392
Equinox Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	1,398,043	1,543,386
Swap Contracts	7,809,251	7,540,465
U.S. Treasury Securities	5,706,384	6,796,392
Equinox Frontier Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	38,220,263	35,990,887
Equinox Frontier Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Open Trade Equity (Deficit)	(17,281)	14,824,422
Swap Contracts	38,220,263	35,990,887
U.S. Treasury Securities	128,817,968	139,953,516
Purchased Options	3,819,429	9,075,883
Options Written	(2,581,870)	(8,963,838)
Level 1 Inputs [Member] | Equinox Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	5,899,789	6,631,887
Open Trade Equity (Deficit)	(571,551)	3,171,968
U.S. Treasury Securities	29,071,240	31,051,659
Level 1 Inputs [Member] | Equinox Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	8,598,866	7,942,166
U.S. Treasury Securities	11,913,754	16,217,173
Level 1 Inputs [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	3,516,988	3,789,466
U.S. Treasury Securities	6,743,330	8,191,519
Level 1 Inputs [Member] | Equinox Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	13,892,904	18,354,685
Open Trade Equity (Deficit)	(778,963)	3,717,291
U.S. Treasury Securities	47,350,232	41,625,860
Level 1 Inputs [Member] | Equinox Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	373,618	4,591,569
Open Trade Equity (Deficit)	55,956
U.S. Treasury Securities	2,415,549	6,476,939
Level 1 Inputs [Member] | Equinox Frontier Winton Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	6,544,957	7,656,170
U.S. Treasury Securities	25,617,478	29,593,974
Level 1 Inputs [Member] | Equinox Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	1,361,243	1,576,952
U.S. Treasury Securities	5,706,384	6,796,392
Level 1 Inputs [Member] | Equinox Frontier Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Open Trade Equity (Deficit)	70,482	15,756,796
U.S. Treasury Securities	128,817,968	139,953,516
Level 2 Inputs [Member] | Equinox Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	298,675	(37,508)
Open Trade Equity (Deficit)		43,238
Options Purchased	374,470	288,413
Options Written	(219,660)	(253,018)
Level 2 Inputs [Member] | Equinox Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	168,654	(40,188)
Level 2 Inputs [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	380,006	25,388
Level 2 Inputs [Member] | Equinox Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	440,892	(10,758)
Open Trade Equity (Deficit)		(419,742)
Level 2 Inputs [Member] | Equinox Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies		(28,926)
Level 2 Inputs [Member] | Equinox Frontier Winton Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	204,082	(176,512)
Level 2 Inputs [Member] | Equinox Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	36,800	(33,566)
Level 2 Inputs [Member] | Equinox Frontier Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Open Trade Equity (Deficit)	(87,763)	(932,374)
Purchased Options	3,819,429	9,075,883
Options Written	(2,581,870)	(8,963,838)
Level 3 Inputs [Member] | Equinox Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	7,615,169	6,570,408
Level 3 Inputs [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	4,304,209	3,633,060
Level 3 Inputs [Member] | Equinox Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	18,491,634	18,246,954
Level 3 Inputs [Member] | Equinox Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Unconsolidated Trading Companies	3,639,651	3,539,498
Level 3 Inputs [Member] | Equinox Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	7,809,251	7,540,465
Level 3 Inputs [Member] | Equinox Frontier Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Swap Contracts	$ 38,220,263	$ 35,990,887

XML

Derivative Instruments and Hedging Activities - Net Change in Open Trade Equity from Futures, Forwards and Options (Detail) - USD ($)		3 Months Ended			6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		$ 985,206		$ 159,537	$ (7,237)		$ (88,006)
Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		1,339,848		283,243	(489,926)		(88,847)
Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		848,512		2,042,401	(755,002)		(452,160)
Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(863,332)		732,485	113,421		(851,513)
Open Trade Equity (Deficit) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(3,193,895)	[1]	5,985,923	(13,495,336)	[1]	(5,042,030)
Open Trade Equity (Deficit) [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options	[2]			1,767,132			961,346
Open Trade Equity (Deficit) [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options	[2]	(1,047,941)		623,763	(2,413,756)		(1,535,401)
Open Trade Equity (Deficit) [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options	[2]	(3,084,315)			(3,212,206)		(83,337)
Open Trade Equity (Deficit) [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options	[2]	(902,659)			(1,606,742)
Open Trade Equity (Deficit) [Member] | Metals [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		787,054		1,029,170	891,238		(947,051)
Open Trade Equity (Deficit) [Member] | Metals [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				52,921			(162,388)
Open Trade Equity (Deficit) [Member] | Metals [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(77,032)		(4,268)	7,712		(253,715)
Open Trade Equity (Deficit) [Member] | Metals [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		6,780			176,379		73,476
Open Trade Equity (Deficit) [Member] | Metals [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		138,192			545,034
Open Trade Equity (Deficit) [Member] | Currencies [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		322,356		450,876	(2,005,957)		(3,956,074)
Open Trade Equity (Deficit) [Member] | Currencies [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				(14,053)			(6,439)
Open Trade Equity (Deficit) [Member] | Currencies [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		165,879		(18,442)	(35,662)		(190,539)
Open Trade Equity (Deficit) [Member] | Currencies [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(364,623)			(1,067,105)		(195,840)
Open Trade Equity (Deficit) [Member] | Currencies [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(98,437)			(26,264)
Open Trade Equity (Deficit) [Member] | Energies [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		3,239,657		300,637	(4,686,989)		1,967,434
Open Trade Equity (Deficit) [Member] | Energies [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				51,961			1,631,427
Open Trade Equity (Deficit) [Member] | Energies [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(84,762)		219,801	(630,250)		208,535
Open Trade Equity (Deficit) [Member] | Energies [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(92,955)			(403,177)		(135,932)
Open Trade Equity (Deficit) [Member] | Energies [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(83,883)			(744,229)
Open Trade Equity (Deficit) [Member] | Agriculturals [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		250,296		749,674	438,060		(471,767)
Open Trade Equity (Deficit) [Member] | Agriculturals [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				1,619,030			(574,982)
Open Trade Equity (Deficit) [Member] | Agriculturals [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		218,632		396,753	113,791		564,384
Open Trade Equity (Deficit) [Member] | Agriculturals [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(521,317)			(226,857)		(73,196)
Open Trade Equity (Deficit) [Member] | Agriculturals [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(516,454)			(437,516)
Open Trade Equity (Deficit) [Member] | Interest rates [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(4,205,211)		4,544,705	(4,395,416)		4,765,842
Open Trade Equity (Deficit) [Member] | Interest rates [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				24,050			322,580
Open Trade Equity (Deficit) [Member] | Interest rates [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(683,706)		1,252,653	(931,136)		1,123,141
Open Trade Equity (Deficit) [Member] | Interest rates [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(1,291,495)			(1,605,340)		55,085
Open Trade Equity (Deficit) [Member] | Interest rates [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(139,963)			(576,893)
Open Trade Equity (Deficit) [Member] | Stock indices [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(3,588,047)		(1,089,139)	(3,736,272)		(6,400,414)
Open Trade Equity (Deficit) [Member] | Stock indices [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options				33,223			(248,852)
Open Trade Equity (Deficit) [Member] | Stock indices [Member] | Equinox Frontier Balanced Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(586,952)		$ (1,222,734)	(938,211)		(2,987,207)
Open Trade Equity (Deficit) [Member] | Stock indices [Member] | Equinox Frontier Diversified Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		(820,705)			(86,106)		$ 193,070
Open Trade Equity (Deficit) [Member] | Stock indices [Member] | Equinox Frontier Select Fund [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Change in Open Trade Equity from Futures, Forwards and Options		$ (202,114)			$ (366,874)

[1] Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

[2] Amounts recorded in the Statements of Operations under Net change in open trade equity (deficit).

XML

Fair Value Measurements - Change in Unrealized Appreciation (Deprecation) Included in Statements of Operations Attributable to Level 3 Investments (Detail) - Level 3 Inputs [Member] - Swap [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Equinox Frontier Diversified Fund [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Balance of recurring Level 3 assets Included in earnings-unrealized	$ 1,044,760	$ 3,132,776
Equinox Frontier Long/Short Commodity Fund [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Balance of recurring Level 3 assets Included in earnings-unrealized	(328,851)	1,176,514
Equinox Frontier Balanced Fund [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Balance of recurring Level 3 assets Included in earnings-unrealized	244,680	8,120,996
Equinox Frontier Heritage Fund [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Balance of recurring Level 3 assets Included in earnings-unrealized	268,786	2,105,281
Equinox Frontier Funds [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Balance of recurring Level 3 assets Included in earnings-unrealized	$ 1,229,375	$ 14,535,358

XML

Swaps - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Swap contracts, fair value	$ 38,220,263	$ 35,990,887
The Series of Equinox Frontier Funds [Member]
Derivatives, Fair Value [Line Items]
Trust's assets deposited with over-the-counter counterparties	8.30%	7.00%
Equinox Frontier Funds [Member]
Derivatives, Fair Value [Line Items]
Trust's assets deposited with over-the-counter counterparties	14.90%	12.50%
Swap contracts, fair value	$ 38,220,263	$ 35,990,887

XML

Organization and Purpose

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Organization and Purpose

1. Organization and Purpose

Equinox Frontier Funds, which is referred to in this report as the “Trust”, was formed on August 8, 2003, as a Delaware statutory trust. Please refer to the consolidated financial statements of the Trust included within this periodic report. The Trust is a multi-advisor commodity pool, as described in Commodity Futures Trading Commission (the “CFTC”) Regulation § 4.10(d)(2). The Trust has authority to issue separate series, or each, a Series, of units of beneficial interest (the “Units”) pursuant to the requirements of the Delaware Statutory Trust Act, as amended (the “Trust Act”). The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). It is managed by its managing owner, Equinox Fund Management, LLC (the “Managing Owner”).

Purchasers of Units are limited owners of the Trust (“Limited Owners”) with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as may be amended from time to time (the “Trust Agreement”), unitholders in a Delaware statutory trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of the combined Series of the Trust.

The Trust, in relation to the Series, has been organized to pool assets of investor funds for the purpose of trading in the United States (“U.S.”) and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust, in relation to the Series, may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts (“Swaps”).

The Trust has seven (7) separate and distinct Series of Units issued and outstanding: Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund, and Equinox Frontier Heritage Fund (each a “Series” and collectively, the “Series”). The Trust, with respect to the Series, may issue additional Series of Units.

The Trust, with respect to each Series:

• engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions;

• allocates funds to a limited liability trading company or companies (“Trading Company”). Except as otherwise described in these notes, each Trading Company has one-year renewable contracts with its own independent commodity trading advisor(s), or each, a Trading Advisor, that will manage all or a portion of such Trading Company’s assets and make the trading decisions for the assets of each Series invested in such Trading Company. Each Trading Company will segregate its assets from any other Trading Company;

• maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series;

• calculates the Net Asset Value (“NAV”) of its Units for each Series separately from the other Series;

• has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments;

• maintains each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units.

The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 and Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and

• all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund or Equinox Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation set forth in Rule 2310 with respect to such Units has been reached or will be reached. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York.

The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust, with respect to the Series, on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, are maintained in the books and records of each Series.

As of June 30, 2015, the Trust, with respect to the Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Equinox Frontier Balanced Fund and the Equinox Frontier Long/Short Commodity Fund separates Units into a maximum of six separate Classes—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. It is expected that between 10% and 30% of each Series’ assets normally will be invested in one or more Trading Companies to be committed as margin for trading positions, but from time to time these percentages may be substantially more or less. The remainders of each Series’ assets are maintained at the Trust level for cash management. Each of the respective Series has invested monies into pooled cash management assets which have included purchases of U.S. Treasury Securities Each Series’ ownership in these investments is based on its percentage ownership in the pooled cash management assets on the reporting date.

As of June 30, 2015, Equinox Frontier Winton Fund has invested a portion of its assets in a single Trading Company, and a single Trading Advisor manages 100% of the assets invested in such Trading Company. Each of the remaining Series has invested a portion of its assets in several different Trading Companies and one or more Trading Advisors may manage the assets invested in such Trading Companies.

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith.

On November 26, 2014, the Trust’s portfolio management team approved an allocation change in an Emil Van Essen trading program that was not fully implemented as intended. As a result, certain series who invested in Emil Van Essen were not allocated sufficient gains and certain other series who invested in Emil Van Essen suffered greater losses. In January 2015, the Managing Owner determined to make a payment to the affected investors within the Equinox Frontier Balanced Fund, Equinox Frontier Diversified Fund and Equinox Frontier Long/Short Commodity Fund, in the aggregate amount of $1,211,610 to reimburse the effect of the missed gain or higher loss on such investors in the series, and such amount was recorded in the Statements of Changes in Owners’ Capital as Payment Made by the Managing Owner.

Equinox Frontier Funds [Member]

Organization and Purpose

1. Organization and Purpose

Equinox Frontier Funds, which is referred to in this report as the “Trust”, was formed on August 8, 2003, as a Delaware statutory trust. The Trust is a multi-advisor commodity pool, as described in CFTC Regulation § 4.10(d)(2). The Trust has authority to issue separate Series of Units pursuant to the requirements of the Trust Act. The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act. It is managed by the Managing Owner.

Purchasers of Units are Limited Owners of the Trust with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as amended from time to time (the “Trust Agreement”), unitholders in a Delaware statutory trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of all Series.

The Trust has been organized to pool investor funds for the purpose of trading in the U.S. and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts (“Swaps”).

The Trust has seven (7) separate and distinct Series of Units issued and outstanding: Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund, and Equinox Frontier Heritage Fund. The Trust financial statements are comprised of unitized Series which are consolidated into the Trust financial statements. However, the consolidated Trust does not issue units.

The Trust, with respect to each Series:

• engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions;

• allocates funds to a Trading Company or Companies. Except as otherwise described in these notes, each Trading Company has one-year renewable contracts with its own independent commodity trading advisor(s), or each, a Trading Advisor, that will manage all or a portion of such Trading Company’s assets and make the trading decisions for the assets of each Series invested in such Trading Company. Each Trading Company will segregate its assets from any other Trading Company;

• maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series;

• calculates the NAV of its Units for each Series separately from the other Series;

• has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments;

• maintains each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 and Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the

Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and

• all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund or Equinox Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation set forth in Rule 2310 with respect to such Units has been reached or will be reached. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York.

The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, are maintained in the books and records of each Series.

As of June 30, 2015, the Trust, with respect to the Equinox Frontier Diversified Fund, Equinox Frontier Masters Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Equinox Frontier Balanced Fund and the Equinox Frontier Long/Short Commodity Fund separates Units into a maximum of six separate Classes—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. It is expected that between 10% and 30% of each Series’ assets normally will be invested in one or more Trading Companies to be committed as margin for trading positions, but from time to time these percentages may be substantially more or less. The remainders of each Series’ assets are maintained at the Trust level for cash management. Each of the respective Series has invested monies into pooled cash management assets which have included purchases of U.S. Treasury Securities. Each Series’ ownership in these investments is based on its percentage ownership in the pooled cash management assets on the reporting date.

Each Series of the Trust may invest a portion of its assets in a single Trading Company or in several different Trading Companies and may have multiple Trading Advisors that manage the assets invested in such Trading Companies.

On November 26, 2014, the Trust’s portfolio management team approved an allocation change in an Emil Van Essen trading program that was not fully implemented as intended. As a result, certain series who invested in Emil Van Essen were not allocated sufficient gains and certain other series who invested in Emil Van Essen suffered greater losses. In January 2015, the Managing Owner determined to make a payment to the affected investors within the Equinox Frontier Balanced Fund, Equinox Frontier Diversified Fund and Equinox Frontier Long/Short Commodity Fund, in the aggregate amount of $1,211,610 to reimburse the effect of the missed gain or higher loss on such investors in the series, and such amount was recorded in the Statement of Changes in Owners’ Capital as Payment Made by the Managing Owner.

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith.

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Swaps - Trust, with Respect to Series, has Invested in Following Swaps (Detail) - Swap [Member] - DeutscheBank AG [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Frontier Brevan Howard swap (U.S.) [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 15,663,283	$ 17,663,283
Termination Date	Mar. 26, 2018	Mar. 26, 2018
Cash Collateral	$ 5,993,000	$ 5,993,000
Swap Value	$ 1,816,251	$ 1,547,466
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	268,786	2,105,281
Fair Value	7,809,251	7,540,466
Frontier XXXIV Balanced select swap (U.S.) [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 62,910,098	$ 67,610,098
Termination Date	Aug. 02, 2018	Aug. 02, 2018
Cash Collateral	$ 9,600,000	$ 9,600,000
Swap Value	$ 8,891,634	$ 8,646,955
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	244,680	8,120,996
Fair Value	18,491,634	18,246,955
Frontier XXXV Diversified select swap (U.S.) [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 30,500,000	$ 35,500,000
Termination Date	Aug. 02, 2018	Aug. 02, 2018
Cash Collateral	$ 3,400,000	$ 3,400,000
Swap Value	$ 4,215,169	$ 3,170,409
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	1,044,760	3,132,777
Fair Value	7,615,169	6,570,409
Frontier XXXVII L/S select swap (U.S.) [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 10,090,513	$ 13,590,513
Termination Date	Aug. 07, 2018	Aug. 07, 2018
Cash Collateral	$ 3,880,000	$ 3,880,000
Swap Value	$ 424,209	$ (246,940)
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	(328,851)	1,176,514
Fair Value	4,304,209	3,633,060
Equinox Frontier Balanced Fund [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 62,910,098	$ 67,610,098
Termination Date	Aug. 02, 2018	Aug. 02, 2018
Cash Collateral	$ 9,600,000	$ 9,600,000
Swap Value	$ 8,891,634	$ 8,646,954
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	244,680	8,120,996
Fair Value	18,491,634	18,246,955
Equinox Frontier Diversified Fund [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 30,500,000	$ 35,500,000
Termination Date	Aug. 02, 2018	Aug. 02, 2018
Cash Collateral	$ 3,400,000	$ 3,400,000
Swap Value	$ 4,215,169	$ 3,170,408
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	1,044,760	3,132,777
Fair Value	7,615,169	6,570,409
Equinox Frontier Long/Short Commodity Fund [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 10,090,513	$ 13,590,513
Termination Date	Aug. 07, 2018	Aug. 07, 2018
Cash Collateral	$ 3,880,000	$ 2,880,000
Swap Value	$ 424,209	$ 753,060
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	(328,851)	1,176,514
Fair Value	4,304,209	3,633,060
Equinox Frontier Heritage Fund [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 15,663,283	$ 17,663,283
Termination Date	Mar. 26, 2018	Mar. 26, 2018
Cash Collateral	$ 5,993,000	$ 5,993,000
Swap Value	$ 1,816,251	$ 1,547,465
Investee Returns	Total Returns	Total Returns
Realized Gain/(Loss)	$ 0	$ 0
Change in Unrealized Gain/(Loss)	268,786	2,105,281
Fair Value	$ 7,809,251	$ 7,540,466

XML

Transactions with Affiliates - Gross Interest Paid to the Managing owner (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Equinox Frontier Diversified Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 11,399	$ 13,962	$ 24,840	$ 32,290
Ratio to average net assets	0.06%	0.07%	0.13%	0.15%
Equinox Frontier Diversified Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 22,235	$ 19,214	$ 46,546	$ 41,944
Ratio to average net assets	0.06%	0.07%	0.13%	0.14%
Equinox Frontier Diversified Fund [Member] | Class 3 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 5,152	$ 699	$ 9,714	$ 860
Ratio to average net assets	0.07%	0.06%	0.13%	0.08%
Equinox Frontier Masters Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 7,621	$ 10,192	$ 15,782	$ 25,974
Ratio to average net assets	0.07%	0.07%	0.14%	0.18%
Equinox Frontier Masters Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 6,063	$ 6,395	$ 12,344	$ 14,025
Ratio to average net assets	0.07%	0.07%	0.14%	0.16%
Equinox Frontier Masters Fund [Member] | Class 3 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 3,480	$ 1,270	$ 6,829	$ 1,677
Ratio to average net assets	0.07%	0.07%	0.14%	0.09%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 801	$ 860	$ 1,696	$ 2,856
Ratio to average net assets	0.06%	0.07%	0.13%	0.24%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 4,837	$ 5,172	$ 10,011	$ 12,025
Ratio to average net assets	0.06%	0.07%	0.13%	0.17%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 3,600	$ 4,191	$ 7,628	$ 10,200
Ratio to average net assets	0.06%	0.07%	0.13%	0.18%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2a [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 1,075	$ 1,393	$ 2,263	$ 3,544
Ratio to average net assets	0.06%	0.07%	0.13%	0.18%
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3a [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 469	$ 286	$ 949	$ 588
Ratio to average net assets	0.06%	0.07%	0.13%	0.15%
Equinox Frontier Balanced Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 224,354	$ 214,182	$ 430,704	$ 479,990
Ratio to average net assets	0.30%	0.33%	0.57%	0.73%
Equinox Frontier Balanced Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 76,515	$ 69,432	$ 145,522	$ 156,628
Ratio to average net assets	0.30%	0.33%	0.57%	0.74%
Equinox Frontier Balanced Fund [Member] | Class 2a [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 358	$ 309	$ 680	$ 650
Ratio to average net assets	0.06%	0.07%	0.12%	0.14%
Equinox Frontier Balanced Fund [Member] | Class 3a [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 1,642	$ 1,355	$ 3,118	$ 2,939
Ratio to average net assets	0.06%	0.07%	0.11%	0.14%
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 2,435		$ 4,627
Ratio to average net assets	0.01%		0.02%
Equinox Frontier Select Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 17,252	$ 39,857	$ 41,323	$ 89,879
Ratio to average net assets	0.12%	0.31%	0.29%	0.69%
Equinox Frontier Select Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 1,941	$ 4,400	$ 4,702	$ 10,092
Ratio to average net assets	0.12%	0.31%	0.29%	0.70%
Equinox Frontier Select Fund [Member] | Class 1AP [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 64		$ 149
Ratio to average net assets	0.00%		0.00%
Equinox Frontier Winton Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 119,313	$ 101,949	$ 241,720	$ 213,976
Ratio to average net assets	0.44%	0.43%	0.89%	0.90%
Equinox Frontier Winton Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 42,458	$ 44,763	$ 103,429	$ 90,922
Ratio to average net assets	0.31%	0.43%	0.76%	0.87%
Equinox Frontier Winton Fund [Member] | Class 1AP [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 177		$ 354
Ratio to average net assets	0.00%		0.01%
Equinox Frontier Heritage Fund [Member] | Class 1 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 30,474	$ 30,529	$ 61,466	$ 67,699
Ratio to average net assets	0.30%	0.35%	0.60%	0.77%
Equinox Frontier Heritage Fund [Member] | Class 2 [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 10,079	$ 8,905	$ 20,247	$ 18,948
Ratio to average net assets	0.30%	0.35%	0.60%	0.74%
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 193		$ 381
Ratio to average net assets	0.01%		0.01%
The Series of Equinox Frontier Funds [Member]
Management Fees Provided For Service [Line Items]
Gross amount paid to the managing owner	$ 593,987	$ 579,315	$ 1,197,024	$ 1,277,706

XML

Statements of Financial Condition - USD ($)	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 21,392,438	$ 18,977,844
U.S. Treasury securities, at fair value	128,817,968	139,953,516
Receivable from futures commission merchants	61,682,864	65,911,348
Open trade equity, at fair value		14,824,422
Options purchased, at fair value	3,819,429	9,075,883
Swap contracts, at fair value	38,220,263	35,990,887
Prepaid service fees	29,917	16,042
Interest receivable	2,207,897	2,151,018
Receivable from related parties	5,058	5,661
Other assets	10	500,010
Total Assets	256,175,844	287,406,631
LIABILITIES
Open trade deficit, at fair value	17,281
Options written, at fair value	2,581,870	8,963,838
Pending owner additions	39,168	41,954
Owner redemptions payable	9,883	159,066
Incentive fees payable to Managing Owner	94,737	6,665,328
Management fees payable to Managing Owner	433,161	468,154
Interest payable to Managing Owner	207,941	203,086
Trading fees payable to Managing Owner	304,512	324,854
Service fees payable to Managing Owner	313,101	336,115
Payables to related parties	52,391	37,927
Other liabilities	0	0
Total Liabilities	4,054,045	17,200,322
Managing Owner Units	5,851,215	5,672,261
Limited Owner Units	246,270,584	264,534,048
Total Capital	252,121,799	270,206,309
Total Liabilities and Capital	256,175,844	287,406,631
Managing Owner [Member]
LIABILITIES
Total Capital	5,851,215	5,736,634
Limited Owners [Member]
LIABILITIES
Total Capital	246,270,584	264,469,675
Equinox Frontier Diversified Fund [Member]
ASSETS
Cash and cash equivalents	4,827,779	4,210,638
U.S. Treasury securities, at fair value	29,071,240	31,051,659
Receivable from futures commission merchants	14,670,707	22,731,129
Open trade equity, at fair value		3,215,206
Options purchased, at fair value	374,470	288,413
Swap contracts, at fair value	7,615,169	6,570,408
Investments in unconsolidated trading companies, at fair value	6,198,464	6,594,379
Interest receivable	498,272	477,250
Other assets		249,997
Total Assets	63,279,719	75,398,613
LIABILITIES
Open trade deficit, at fair value	571,551
Options written, at fair value	219,660	253,018
Pending owner additions	1,320	1,527
Owner redemptions payable		57,953
Incentive fees payable to Managing Owner	4,000	2,387,825
Management fees payable to Managing Owner	83,476	86,486
Interest payable to Managing Owner	15,798	16,168
Trading fees payable to Managing Owner	124,327	132,984
Service fees payable to Managing Owner	36,650	34,905
Payables to related parties	3,544	2,371
Other liabilities	0	0
Total Liabilities	1,060,326	2,973,237
Total Capital	62,219,393	72,425,376
Total Liabilities and Capital	63,279,719	75,398,613
Total Owners' Capital	55,127,056	60,007,609
Non-Controlling Interests	$ 7,092,337	$ 12,417,767
Equinox Frontier Diversified Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	137,951	169,725
Net Asset Value per Unit	$ 115.55	$ 113.09
ASSETS
Prepaid service fees	$ 23,618	$ 9,534
Equinox Frontier Diversified Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	246,850	282,534
Net Asset Value per Unit	$ 128.49	$ 124.67
Equinox Frontier Diversified Fund [Member] | Total Owner Class 3 [Member]
Units Outstanding	62,912	48,583
Net Asset Value per Unit	$ 118.70	$ 115.03
Equinox Frontier Diversified Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	14,576	14,576
LIABILITIES
Managing Owner Units	$ 2,594,028	$ 2,516,879
Total Capital	$ 2,594,028	$ 2,516,879
Equinox Frontier Diversified Fund [Member] | Managing Owner [Member] | Class 3 [Member]
Units Outstanding	275	275
LIABILITIES
Managing Owner Units	$ 32,642	$ 31,632
Total Capital	$ 32,642	$ 31,632
Equinox Frontier Diversified Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	137,951	169,725
LIABILITIES
Limited Owner Units	$ 15,940,760	$ 19,195,036
Total Capital	$ 15,940,760	$ 19,195,036
Equinox Frontier Diversified Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	232,274	267,958
LIABILITIES
Limited Owner Units	$ 29,124,659	$ 32,707,413
Total Capital	$ 29,124,659	$ 32,707,413
Equinox Frontier Diversified Fund [Member] | Limited Owners [Member] | Class 3 [Member]
Units Outstanding	62,637	48,308
LIABILITIES
Limited Owner Units	$ 7,434,967	$ 5,556,649
Total Capital	7,434,967	5,556,649
Equinox Frontier Masters Fund [Member]
ASSETS
Cash and cash equivalents	1,978,484	2,199,066
U.S. Treasury securities, at fair value	11,913,754	16,217,173
Investments in unconsolidated trading companies, at fair value	8,767,520	7,901,978
Interest receivable	204,198	249,250
Receivable from related parties	2,976	3,050
Total Assets	22,872,821	26,576,520
LIABILITIES
Pending owner additions	1,566	2,056
Incentive fees payable to Managing Owner	41,071	722,043
Management fees payable to Managing Owner	60,312	64,497
Interest payable to Managing Owner	5,738	6,898
Trading fees payable to Managing Owner	50,813	55,912
Service fees payable to Managing Owner	15,452	17,260
Other liabilities	0	0
Total Liabilities	174,952	868,666
Total Capital	22,697,869	25,707,854
Total Liabilities and Capital	22,872,821	26,576,520
Total Owners' Capital	$ 22,697,869	$ 25,707,854
Equinox Frontier Masters Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	82,514	101,632
Net Asset Value per Unit	$ 110.01	$ 116.61
ASSETS
Prepaid service fees	$ 5,889	$ 6,003
Equinox Frontier Masters Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	65,443	69,003
Net Asset Value per Unit	$ 122.32	$ 128.53
Equinox Frontier Masters Fund [Member] | Total Owner Class 3 [Member]
Units Outstanding	49,497	41,897
Net Asset Value per Unit	$ 113.45	$ 119.06
Equinox Frontier Masters Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	5,627	5,627
LIABILITIES
Managing Owner Units	$ 688,269	$ 723,207
Total Capital	$ 688,269	$ 723,207
Equinox Frontier Masters Fund [Member] | Managing Owner [Member] | Class 3 [Member]
Units Outstanding	275	275
LIABILITIES
Managing Owner Units	$ 31,198	$ 32,741
Total Capital	$ 31,198	$ 32,741
Equinox Frontier Masters Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	82,514	101,632
LIABILITIES
Limited Owner Units	$ 9,077,720	$ 11,850,911
Total Capital	$ 9,077,720	$ 11,850,911
Equinox Frontier Masters Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	59,816	63,376
LIABILITIES
Limited Owner Units	$ 7,316,511	$ 8,145,536
Total Capital	$ 7,316,511	$ 8,145,536
Equinox Frontier Masters Fund [Member] | Limited Owners [Member] | Class 3 [Member]
Units Outstanding	49,222	41,622
LIABILITIES
Limited Owner Units	$ 5,584,171	$ 4,955,459
Total Capital	5,584,171	4,955,459
Equinox Frontier Long/Short Commodity Fund [Member]
ASSETS
Cash and cash equivalents	1,119,846	1,110,779
U.S. Treasury securities, at fair value	6,743,330	8,191,519
Swap contracts, at fair value	4,304,209	3,633,060
Investments in unconsolidated trading companies, at fair value	3,896,994	3,814,854
Interest receivable	115,577	125,900
Receivable from related parties	2,082	2,612
Total Assets	16,182,448	16,879,229
LIABILITIES
Owner redemptions payable	796	19,578
Incentive fees payable to Managing Owner	40,149	158,660
Management fees payable to Managing Owner	45,710	45,361
Interest payable to Managing Owner	3,616	3,713
Trading fees payable to Managing Owner	21,626	24,436
Service fees payable to Managing Owner	9,149	10,562
Other liabilities	0	0
Total Liabilities	121,046	262,310
Total Capital	16,061,402	16,616,919
Total Liabilities and Capital	16,182,448	16,879,229
Total Owners' Capital	16,061,402	16,616,919
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 1 [Member]
ASSETS
Prepaid service fees	$ 410	$ 505
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 1a [Member]
Units Outstanding	49,518	57,130
Net Asset Value per Unit	$ 107.17	$ 101.12
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	7,843	9,013
Net Asset Value per Unit	$ 148.16	$ 138.30
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 2a [Member]
Units Outstanding	13,013	15,291
Net Asset Value per Unit	$ 119.03	$ 111.35
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 3 [Member]
Units Outstanding	49,320	52,285
Net Asset Value per Unit	$ 148.20	$ 138.34
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 3a [Member]
Units Outstanding	6,139	5,886
Net Asset Value per Unit	$ 119.64	$ 111.77
Equinox Frontier Long/Short Commodity Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	3,083	3,083
LIABILITIES
Managing Owner Units	$ 456,774	$ 426,377
Total Capital	$ 456,774	$ 426,377
Equinox Frontier Long/Short Commodity Fund [Member] | Managing Owner [Member] | Class 2a [Member]
Units Outstanding	2,222	2,222
LIABILITIES
Managing Owner Units	$ 264,519	$ 247,434
Total Capital	$ 264,519	$ 247,434
Equinox Frontier Long/Short Commodity Fund [Member] | Managing Owner [Member] | Class 3a [Member]
Units Outstanding	109	109
LIABILITIES
Managing Owner Units	$ 13,088	$ 12,228
Total Capital	$ 13,088	$ 12,228
Equinox Frontier Long/Short Commodity Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	4,760	5,930
LIABILITIES
Limited Owner Units	$ 705,224	$ 820,104
Total Capital	$ 705,224	$ 820,104
Equinox Frontier Long/Short Commodity Fund [Member] | Limited Owners [Member] | Class 2a [Member]
Units Outstanding	10,791	13,069
LIABILITIES
Limited Owner Units	$ 1,284,389	$ 1,455,117
Total Capital	$ 1,284,389	$ 1,455,117
Equinox Frontier Long/Short Commodity Fund [Member] | Limited Owners [Member] | Class 3 [Member]
Units Outstanding	49,320	52,285
LIABILITIES
Limited Owner Units	$ 7,309,331	$ 7,233,099
Total Capital	$ 7,309,331	$ 7,233,099
Equinox Frontier Long/Short Commodity Fund [Member] | Limited Owners [Member] | Class 3a [Member]
Units Outstanding	6,030	5,777
LIABILITIES
Limited Owner Units	$ 721,363	$ 645,654
Total Capital	$ 721,363	$ 645,654
Equinox Frontier Long/Short Commodity Fund [Member] | Limited Owners [Member] | Class 1a [Member]
Units Outstanding	49,518	57,130
LIABILITIES
Limited Owner Units	$ 5,306,714	$ 5,776,906
Total Capital	5,306,714	5,776,906
Equinox Frontier Balanced Fund [Member]
ASSETS
Cash and cash equivalents	7,863,320	5,644,510
U.S. Treasury securities, at fair value	47,350,232	41,625,860
Receivable from futures commission merchants	9,422,019	22,689,948
Open trade equity, at fair value		3,297,549
Swap contracts, at fair value	18,491,634	18,246,954
Investments in unconsolidated trading companies, at fair value	14,333,796	18,343,927
Interest receivable	811,568	639,769
Other assets	10	250,013
Total Assets	98,272,579	110,738,530
LIABILITIES
Open trade deficit, at fair value	778,963
Pending owner additions	17,442	18,002
Owner redemptions payable	9,088	22,793
Incentive fees payable to Managing Owner	9,517	1,793,318
Management fees payable to Managing Owner	91,646	101,208
Interest payable to Managing Owner	101,040	84,976
Trading fees payable to Managing Owner	65,193	66,037
Service fees payable to Managing Owner	156,201	167,151
Payables to related parties	19,434	14,934
Other liabilities	0	0
Total Liabilities	1,248,524	2,268,419
Total Capital	97,024,055	108,470,111
Total Liabilities and Capital	98,272,579	110,738,530
Total Owners' Capital	95,849,780	99,525,837
Non-Controlling Interests	$ 1,174,275	$ 8,944,274
Equinox Frontier Balanced Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	520,129	548,117
Net Asset Value per Unit	$ 131.82	$ 131.54
Equinox Frontier Balanced Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	128,815	131,447
Net Asset Value per Unit	$ 182.24	$ 179.16
Equinox Frontier Balanced Fund [Member] | Total Owner Class 2a [Member]
Units Outstanding	3,539	3,923
Net Asset Value per Unit	$ 156.36	$ 153.02
Equinox Frontier Balanced Fund [Member] | Total Owner Class 3a [Member]
Units Outstanding	16,261	16,577
Net Asset Value per Unit	$ 155.85	$ 152.52
Equinox Frontier Balanced Fund [Member] | Total Owner Class 1AP [Member]
Units Outstanding	5,351	5,618
Net Asset Value per Unit	$ 135.49	$ 133.20
Equinox Frontier Balanced Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	7,956	7,956
LIABILITIES
Managing Owner Units	$ 1,449,802	$ 1,425,355
Total Capital	$ 1,449,802	$ 1,425,355
Equinox Frontier Balanced Fund [Member] | Managing Owner [Member] | Class 2a [Member]
Units Outstanding	1,237	1,237
LIABILITIES
Managing Owner Units	$ 193,476	$ 189,344
Total Capital	$ 193,476	$ 189,344
Equinox Frontier Balanced Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	520,129	548,117
LIABILITIES
Limited Owner Units	$ 68,562,471	$ 72,098,275
Total Capital	$ 68,562,471	$ 72,098,275
Equinox Frontier Balanced Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	120,859	123,491
LIABILITIES
Limited Owner Units	$ 22,025,164	$ 22,125,342
Total Capital	$ 22,025,164	$ 22,125,342
Equinox Frontier Balanced Fund [Member] | Limited Owners [Member] | Class 2a [Member]
Units Outstanding	2,302	2,686
LIABILITIES
Limited Owner Units	$ 359,830	$ 410,943
Total Capital	$ 359,830	$ 410,943
Equinox Frontier Balanced Fund [Member] | Limited Owners [Member] | Class 3a [Member]
Units Outstanding	16,261	16,577
LIABILITIES
Limited Owner Units	$ 2,534,161	$ 2,528,303
Total Capital	$ 2,534,161	$ 2,528,303
Equinox Frontier Balanced Fund [Member] | Limited Owners [Member] | Class 1AP [Member]
Units Outstanding	5,351	5,618
LIABILITIES
Limited Owner Units	$ 724,876	$ 748,275
Total Capital	724,876	748,275
Equinox Frontier Select Fund [Member]
ASSETS
Cash and cash equivalents	401,143	878,280
U.S. Treasury securities, at fair value	2,415,549	6,476,939
Receivable from futures commission merchants	12,410,448
Open trade equity, at fair value	55,956
Investments in unconsolidated trading companies, at fair value	4,013,269	8,102,141
Interest receivable	41,402	99,547
Total Assets	19,337,767	15,556,907
LIABILITIES
Pending owner additions	1,411	1,485
Owner redemptions payable		15,432
Incentive fees payable to Managing Owner		185,791
Management fees payable to Managing Owner	26,065	27,835
Interest payable to Managing Owner	6,451	13,263
Trading fees payable to Managing Owner	9,285	10,119
Service fees payable to Managing Owner	29,617	32,520
Payables to related parties	1,195	984
Other liabilities	0	0
Total Liabilities	74,024	287,429
Total Capital	19,263,743	15,269,478
Total Liabilities and Capital	19,337,767	15,556,907
Total Owners' Capital	13,352,357	$ 15,269,478
Non-Controlling Interests	$ 5,911,386
Equinox Frontier Select Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	137,450	142,913
Net Asset Value per Unit	$ 87.31	$ 95.61
Equinox Frontier Select Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	10,973	12,128
Net Asset Value per Unit	$ 119.09	$ 128.48
Equinox Frontier Select Fund [Member] | Total Owner Class 1AP [Member]
Units Outstanding	503	494
Net Asset Value per Unit	$ 89.74	$ 96.82
Equinox Frontier Select Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	70	70
LIABILITIES
Managing Owner Units	$ 8,389	$ 9,052
Total Capital	$ 8,389	$ 9,052
Equinox Frontier Select Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	137,450	142,913
LIABILITIES
Limited Owner Units	$ 12,000,655	$ 13,663,563
Total Capital	$ 12,000,655	$ 13,663,563
Equinox Frontier Select Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	10,903	12,058
LIABILITIES
Limited Owner Units	$ 1,298,229	$ 1,549,078
Total Capital	$ 1,298,229	$ 1,549,078
Equinox Frontier Select Fund [Member] | Limited Owners [Member] | Class 1AP [Member]
Units Outstanding	503	494
LIABILITIES
Limited Owner Units	$ 45,084	$ 47,785
Total Capital	45,084	47,785
Equinox Frontier Winton Fund [Member]
ASSETS
Cash and cash equivalents	4,254,223	4,012,974
U.S. Treasury securities, at fair value	25,617,478	29,593,974
Investments in unconsolidated trading companies, at fair value	6,749,039	7,479,658
Interest receivable	439,076	454,845
Total Assets	37,059,816	41,541,451
LIABILITIES
Pending owner additions	14,095	15,503
Owner redemptions payable		21,902
Incentive fees payable to Managing Owner		1,178,364
Management fees payable to Managing Owner	102,252	114,823
Interest payable to Managing Owner	61,319	63,722
Trading fees payable to Managing Owner	24,963	26,690
Service fees payable to Managing Owner	46,288	52,753
Payables to related parties	24,445	16,461
Other liabilities	0	0
Total Liabilities	273,362	1,490,218
Total Capital	36,786,454	40,051,233
Total Liabilities and Capital	37,059,816	41,541,451
Total Owners' Capital	$ 36,786,454	$ 40,051,233
Equinox Frontier Winton Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	146,641	152,717
Net Asset Value per Unit	$ 165.85	$ 175.95
Equinox Frontier Winton Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	57,432	58,093
Net Asset Value per Unit	$ 216.43	$ 226.23
Equinox Frontier Winton Fund [Member] | Total Owner Class 1AP [Member]
Units Outstanding	214	214
Net Asset Value per Unit	$ 170.46	$ 178.18
Equinox Frontier Winton Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	207	207
LIABILITIES
Managing Owner Units	$ 44,739	$ 46,764
Total Capital	$ 44,739	$ 46,764
Equinox Frontier Winton Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	146,641	152,717
LIABILITIES
Limited Owner Units	$ 24,319,904	$ 26,870,878
Total Capital	$ 24,319,904	$ 26,870,878
Equinox Frontier Winton Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	57,225	57,886
LIABILITIES
Limited Owner Units	$ 12,385,416	$ 13,095,549
Total Capital	$ 12,385,416	$ 13,095,549
Equinox Frontier Winton Fund [Member] | Limited Owners [Member] | Class 1AP [Member]
Units Outstanding	214	214
LIABILITIES
Limited Owner Units	$ 36,395	$ 38,042
Total Capital	36,395	38,042
Equinox Frontier Heritage Fund [Member]
ASSETS
Cash and cash equivalents	947,643	921,598
U.S. Treasury securities, at fair value	5,706,384	6,796,392
Swap contracts, at fair value	7,809,251	7,540,465
Investments in unconsolidated trading companies, at fair value	1,398,043	1,543,386
Interest receivable	97,804	104,457
Total Assets	15,959,125	16,906,298
LIABILITIES
Pending owner additions	3,334	3,381
Owner redemptions payable		21,408
Incentive fees payable to Managing Owner		239,327
Management fees payable to Managing Owner	23,699	27,944
Interest payable to Managing Owner	13,738	14,543
Trading fees payable to Managing Owner	8,305	8,676
Service fees payable to Managing Owner	19,744	20,964
Payables to related parties	3,773	3,178
Other liabilities	0	0
Total Liabilities	72,593	339,421
Total Capital	15,886,532	16,566,877
Total Liabilities and Capital	15,959,125	16,906,298
Total Owners' Capital	12,246,881	13,027,379
Non-Controlling Interests	$ 3,639,651	$ 3,539,498
Equinox Frontier Heritage Fund [Member] | Total Owner Class 1 [Member]
Units Outstanding	72,489	74,927
Net Asset Value per Unit	$ 126.10	$ 130.28
Equinox Frontier Heritage Fund [Member] | Total Owner Class 2 [Member]
Units Outstanding	17,568	18,164
Net Asset Value per Unit	$ 173.45	$ 176.56
Equinox Frontier Heritage Fund [Member] | Total Owner Class 1AP [Member]
Units Outstanding	452	443
Net Asset Value per Unit	$ 129.61	$ 131.93
Equinox Frontier Heritage Fund [Member] | Managing Owner [Member] | Class 2 [Member]
Units Outstanding	428	428
LIABILITIES
Managing Owner Units	$ 74,291	$ 75,621
Total Capital	$ 74,291	$ 75,621
Equinox Frontier Heritage Fund [Member] | Limited Owners [Member] | Class 1 [Member]
Units Outstanding	72,489	74,927
LIABILITIES
Limited Owner Units	$ 9,141,028	$ 9,761,819
Total Capital	$ 9,141,028	$ 9,761,819
Equinox Frontier Heritage Fund [Member] | Limited Owners [Member] | Class 2 [Member]
Units Outstanding	17,140	17,736
LIABILITIES
Limited Owner Units	$ 2,973,068	$ 3,131,561
Total Capital	$ 2,973,068	$ 3,131,561
Equinox Frontier Heritage Fund [Member] | Limited Owners [Member] | Class 1AP [Member]
Units Outstanding	452	443
LIABILITIES
Limited Owner Units	$ 58,494	$ 58,378
Total Capital	$ 58,494	$ 58,378

XML

Derivative Instruments and Hedging Activities - Summary of Derivative Assets and Liabilities Disclosed on Statements of Financial Condition (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Swap [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	$ 38,220,263	$ 35,990,887
Net Amounts Presented in the Statement of Financial Condition	38,220,263	35,990,887
Total Open Trade Equity (Deficit) [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets		17,120,111
Gross Amounts offset in the Statement of Financial Condition	(17,281)	(2,295,689)
Net Amounts Presented in the Statement of Financial Condition	(17,281)	14,824,422
Options Purchased [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	3,819,429	9,075,883
Net Amounts Presented in the Statement of Financial Condition	3,819,429	9,075,883
Options Written [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts offset in the Statement of Financial Condition	(2,581,870)	(8,963,838)
Net Amounts Presented in the Statement of Financial Condition	(2,581,870)	(8,963,838)
Equinox Frontier Balanced Fund [Member] | Swap [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	18,491,634	18,246,954
Net Amounts Presented in the Statement of Financial Condition	18,491,634	18,246,954
Equinox Frontier Balanced Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	116,357	4,281,391
Gross Amounts offset in the Statement of Financial Condition	(895,320)	(983,842)
Net Amounts Presented in the Statement of Financial Condition	(778,963)	3,297,549
Equinox Frontier Diversified Fund [Member] | Swap [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	7,615,169	6,570,408
Net Amounts Presented in the Statement of Financial Condition	7,615,169	6,570,408
Equinox Frontier Diversified Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets		3,215,206
Gross Amounts offset in the Statement of Financial Condition	(571,551)
Net Amounts Presented in the Statement of Financial Condition	(571,551)	3,215,206
Equinox Frontier Diversified Fund [Member] | Options Purchased [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	374,470	288,413
Net Amounts Presented in the Statement of Financial Condition	374,470	288,413
Equinox Frontier Diversified Fund [Member] | Options Written [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts offset in the Statement of Financial Condition	(219,660)	(253,018)
Net Amounts Presented in the Statement of Financial Condition	(219,660)	(253,018)
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	4,304,209	3,633,060
Net Amounts Presented in the Statement of Financial Condition	4,304,209	3,633,060
Equinox Frontier Heritage Fund [Member] | Swap [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	7,809,251	7,540,465
Net Amounts Presented in the Statement of Financial Condition	7,809,251	$ 7,540,465
Equinox Frontier Select Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized Derivative Assets	153,408
Gross Amounts offset in the Statement of Financial Condition	(97,452)
Net Amounts Presented in the Statement of Financial Condition	$ 55,956

XML

Statements of Changes in Owners' Capital - USD ($)		3 Months Ended	6 Months Ended
		Jun. 30, 2015	Jun. 30, 2015
Owners' Capital, Beginning balance			$ 270,206,309
Sale of Units			9,776,731
Redemption of Units			(27,531,104)
Payment made by the Managing Owner			1,211,610
Net increase/(decrease) in Owners' Capital resulting from operations			(1,541,747)
Owners' Capital, Ending balance		$ 252,121,799	252,121,799
Managing Owner [Member]
Owners' Capital, Beginning balance			5,736,634
Net increase/(decrease) in Owners' Capital resulting from operations			114,581
Owners' Capital, Ending balance		5,851,215	5,851,215
Limited Owners [Member]
Owners' Capital, Beginning balance			264,469,675
Sale of Units			9,776,731
Redemption of Units			(27,531,104)
Payment made by the Managing Owner			1,211,610
Net increase/(decrease) in Owners' Capital resulting from operations			(1,656,328)
Owners' Capital, Ending balance		246,270,584	246,270,584
Equinox Frontier Diversified Fund [Member]
Owners' Capital, Beginning balance			72,425,376
Sale of Units			5,874,232
Redemption of Units			(13,110,837)
Change in control of ownership - Trading Companies			(8,316,485)
Payment made by the Managing Owner			144,349
Operations attributable to non-controlling interests		(322,342)	2,991,055
Net increase/(decrease) in Owners' Capital resulting from operations		(7,505,363)	2,211,703
Owners' Capital, Ending balance		62,219,393	62,219,393
Equinox Frontier Diversified Fund [Member] | Non-Controlling Interests [Member]
Owners' Capital, Beginning balance			12,417,767
Change in control of ownership - Trading Companies			(8,316,485)
Operations attributable to non-controlling interests			2,991,055
Owners' Capital, Ending balance		$ 7,092,337	$ 7,092,337
Equinox Frontier Diversified Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 131.66	$ 113.09
Net asset value per unit, Ending balance	[1]	$ 115.55	$ 115.55
Equinox Frontier Diversified Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 19,195,036
Sale of Units			1,270,579
Redemption of Units			(5,313,927)
Payment made by the Managing Owner			47,134
Net increase/(decrease) in Owners' Capital resulting from operations			741,938
Owners' Capital, Ending balance		$ 15,940,760	$ 15,940,760
Owners' Capital - Units, Beginning balance			169,725
Owners' Capital - Units, Sale of Units			10,551
Owners' Capital - Units, Redemption of Units			(42,325)
Owners' Capital - Units, Ending balance		137,951	137,951
Net asset value per unit, Beginning balance			$ 113.09
Change in net asset value per unit for the period			2.46
Net asset value per unit, Ending balance		$ 115.55	115.55
Equinox Frontier Diversified Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	145.76	124.67
Net asset value per unit, Ending balance	[1]	$ 128.49	$ 128.49
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 2,516,879
Net increase/(decrease) in Owners' Capital resulting from operations			77,149
Owners' Capital, Ending balance		$ 2,594,028	$ 2,594,028
Owners' Capital - Units, Beginning balance			14,576
Owners' Capital - Units, Ending balance		14,576	14,576
Net asset value per unit, Beginning balance	[2]		$ 124.67
Change in net asset value per unit for the period	[2]		3.82
Net asset value per unit, Ending balance	[2]	$ 128.49	$ 128.49
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 32,707,413
Sale of Units			1,189,861
Redemption of Units			(6,218,435)
Payment made by the Managing Owner			82,416
Net increase/(decrease) in Owners' Capital resulting from operations			1,363,404
Owners' Capital, Ending balance		$ 29,124,659	$ 29,124,659
Owners' Capital - Units, Beginning balance			267,958
Owners' Capital - Units, Sale of Units			8,618
Owners' Capital - Units, Redemption of Units			(44,302)
Owners' Capital - Units, Ending balance		232,274	232,274
Net asset value per unit, Beginning balance	[2]		$ 124.67
Change in net asset value per unit for the period	[2],[3]		3.82
Net asset value per unit, Ending balance	[2]	$ 128.49	128.49
Equinox Frontier Diversified Fund [Member] | Class 3 [Member]
Net asset value per unit, Beginning balance	[1]	134.57	115.03
Net asset value per unit, Ending balance	[1]	$ 118.70	$ 118.70
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 31,632
Net increase/(decrease) in Owners' Capital resulting from operations			1,010
Owners' Capital, Ending balance		$ 32,642	$ 32,642
Owners' Capital - Units, Beginning balance			275
Owners' Capital - Units, Ending balance		275	275
Net asset value per unit, Beginning balance	[2]		$ 115.03
Change in net asset value per unit for the period	[2]		3.67
Net asset value per unit, Ending balance	[2]	$ 118.70	$ 118.70
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 5,556,649
Sale of Units			3,413,792
Redemption of Units			(1,578,475)
Payment made by the Managing Owner			14,799
Net increase/(decrease) in Owners' Capital resulting from operations			28,202
Owners' Capital, Ending balance		$ 7,434,967	$ 7,434,967
Owners' Capital - Units, Beginning balance			48,308
Owners' Capital - Units, Sale of Units			26,878
Owners' Capital - Units, Redemption of Units			(12,549)
Owners' Capital - Units, Ending balance		62,637	62,637
Net asset value per unit, Beginning balance	[2]		$ 115.03
Change in net asset value per unit for the period	[2]		3.67
Net asset value per unit, Ending balance	[2]	$ 118.70	$ 118.70
Equinox Frontier Masters Fund [Member]
Owners' Capital, Beginning balance			$ 25,707,854
Sale of Units			3,497,943
Redemption of Units			(5,292,448)
Net increase/(decrease) in Owners' Capital resulting from operations		$ (3,793,874)	(1,215,480)
Owners' Capital, Ending balance		$ 22,697,869	$ 22,697,869
Equinox Frontier Masters Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 128.38	$ 116.61
Net asset value per unit, Ending balance	[1]	$ 110.01	$ 110.01
Equinox Frontier Masters Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 11,850,911
Sale of Units			989,895
Redemption of Units			(3,183,426)
Net increase/(decrease) in Owners' Capital resulting from operations			(579,660)
Owners' Capital, Ending balance		$ 9,077,720	$ 9,077,720
Owners' Capital - Units, Beginning balance			101,632
Owners' Capital - Units, Sale of Units			7,886
Owners' Capital - Units, Redemption of Units			(27,004)
Owners' Capital - Units, Ending balance		82,514	82,514
Net asset value per unit, Beginning balance			$ 116.61
Change in net asset value per unit for the period			(6.60)
Net asset value per unit, Ending balance		$ 110.01	110.01
Equinox Frontier Masters Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	142.12	128.53
Net asset value per unit, Ending balance	[1]	$ 122.32	$ 122.32
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 723,207
Net increase/(decrease) in Owners' Capital resulting from operations			(34,938)
Owners' Capital, Ending balance		$ 688,269	$ 688,269
Owners' Capital - Units, Beginning balance			5,627
Owners' Capital - Units, Ending balance		5,627	5,627
Net asset value per unit, Beginning balance	[2]		$ 128.53
Change in net asset value per unit for the period	[2]		(6.21)
Net asset value per unit, Ending balance	[2]	$ 122.32	$ 122.32
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 8,145,536
Sale of Units			10,000
Redemption of Units			(483,171)
Net increase/(decrease) in Owners' Capital resulting from operations			(355,854)
Owners' Capital, Ending balance		$ 7,316,511	$ 7,316,511
Owners' Capital - Units, Beginning balance			63,376
Owners' Capital - Units, Sale of Units			77
Owners' Capital - Units, Redemption of Units			(3,637)
Owners' Capital - Units, Ending balance		59,816	59,816
Net asset value per unit, Beginning balance	[2]		$ 128.53
Change in net asset value per unit for the period	[2]		(6.21)
Net asset value per unit, Ending balance	[2]	$ 122.32	122.32
Equinox Frontier Masters Fund [Member] | Class 3 [Member]
Net asset value per unit, Beginning balance	[1]	131.73	119.06
Net asset value per unit, Ending balance	[1]	$ 113.45	$ 113.45
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 32,741
Net increase/(decrease) in Owners' Capital resulting from operations			(1,543)
Owners' Capital, Ending balance		$ 31,198	$ 31,198
Owners' Capital - Units, Beginning balance			275
Owners' Capital - Units, Ending balance		275	275
Net asset value per unit, Beginning balance			$ 119.06
Change in net asset value per unit for the period			(5.61)
Net asset value per unit, Ending balance		$ 113.45	$ 113.45
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 4,955,459
Sale of Units			2,498,048
Redemption of Units			(1,625,851)
Net increase/(decrease) in Owners' Capital resulting from operations			(243,485)
Owners' Capital, Ending balance		$ 5,584,171	$ 5,584,171
Owners' Capital - Units, Beginning balance			41,622
Owners' Capital - Units, Sale of Units			20,733
Owners' Capital - Units, Redemption of Units			(13,133)
Owners' Capital - Units, Ending balance		49,222	49,222
Net asset value per unit, Beginning balance	[2]		$ 119.06
Change in net asset value per unit for the period	[2]		(5.61)
Net asset value per unit, Ending balance	[2]	$ 113.45	$ 113.45
Equinox Frontier Select Fund [Member]
Owners' Capital, Beginning balance			$ 15,269,478
Sale of Units			10,998
Redemption of Units			(698,003)
Change in control of ownership - Trading Companies			6,595,623
Operations attributable to non-controlling interests		$ (1,366,570)	(684,237)
Net increase/(decrease) in Owners' Capital resulting from operations		(2,913,177)	(1,230,116)
Owners' Capital, Ending balance		19,263,743	19,263,743
Equinox Frontier Select Fund [Member] | Non-Controlling Interests [Member]
Change in control of ownership - Trading Companies			6,595,623
Operations attributable to non-controlling interests			(684,237)
Owners' Capital, Ending balance		$ 5,911,386	$ 5,911,386
Equinox Frontier Select Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 106.16	$ 95.61
Net asset value per unit, Ending balance	[1]	$ 87.31	$ 87.31
Equinox Frontier Select Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 13,663,563
Sale of Units			10,068
Redemption of Units			(545,555)
Net increase/(decrease) in Owners' Capital resulting from operations			(1,127,421)
Owners' Capital, Ending balance		$ 12,000,655	$ 12,000,655
Owners' Capital - Units, Beginning balance			142,913
Owners' Capital - Units, Sale of Units			101
Owners' Capital - Units, Redemption of Units			(5,564)
Owners' Capital - Units, Ending balance		137,450	137,450
Net asset value per unit, Beginning balance			$ 95.61
Change in net asset value per unit for the period			(8.30)
Net asset value per unit, Ending balance		$ 87.31	87.31
Equinox Frontier Select Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	143.73	128.48
Net asset value per unit, Ending balance	[1]	$ 119.09	$ 119.09
Equinox Frontier Select Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 9,052
Net increase/(decrease) in Owners' Capital resulting from operations			(663)
Owners' Capital, Ending balance		$ 8,389	$ 8,389
Owners' Capital - Units, Beginning balance			70
Owners' Capital - Units, Ending balance		70	70
Net asset value per unit, Beginning balance	[2]		$ 128.48
Change in net asset value per unit for the period	[2]		(9.39)
Net asset value per unit, Ending balance	[2]	$ 119.09	$ 119.09
Equinox Frontier Select Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 1,549,078
Redemption of Units			(152,448)
Net increase/(decrease) in Owners' Capital resulting from operations			(98,401)
Owners' Capital, Ending balance		$ 1,298,229	$ 1,298,229
Owners' Capital - Units, Beginning balance			12,058
Owners' Capital - Units, Redemption of Units			(1,155)
Owners' Capital - Units, Ending balance		10,903	10,903
Net asset value per unit, Beginning balance	[2]		$ 128.48
Change in net asset value per unit for the period	[2]		(9.39)
Net asset value per unit, Ending balance	[2]	$ 119.09	119.09
Equinox Frontier Select Fund [Member] | Class 1AP [Member]
Net asset value per unit, Beginning balance	[1]	108.31	96.82
Net asset value per unit, Ending balance	[1]	$ 89.74	$ 89.74
Equinox Frontier Select Fund [Member] | Class 1AP [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 47,785
Sale of Units			930
Net increase/(decrease) in Owners' Capital resulting from operations			(3,631)
Owners' Capital, Ending balance		$ 45,084	$ 45,084
Owners' Capital - Units, Beginning balance			494
Owners' Capital - Units, Sale of Units			9
Owners' Capital - Units, Ending balance		503	503
Net asset value per unit, Beginning balance			$ 96.82
Change in net asset value per unit for the period			(7.08)
Net asset value per unit, Ending balance		$ 89.74	$ 89.74
Equinox Frontier Winton Fund [Member]
Owners' Capital, Beginning balance			$ 40,051,233
Sale of Units			93,346
Redemption of Units			(1,334,347)
Net increase/(decrease) in Owners' Capital resulting from operations		$ (5,700,069)	(2,023,778)
Owners' Capital, Ending balance		$ 36,786,454	$ 36,786,454
Equinox Frontier Winton Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 191.90	$ 175.95
Net asset value per unit, Ending balance	[1]	$ 165.85	$ 165.85
Equinox Frontier Winton Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 26,870,878
Sale of Units			93,346
Redemption of Units			(1,185,987)
Net increase/(decrease) in Owners' Capital resulting from operations			(1,458,333)
Owners' Capital, Ending balance		$ 24,319,904	$ 24,319,904
Owners' Capital - Units, Beginning balance			152,717
Owners' Capital - Units, Sale of Units			515
Owners' Capital - Units, Redemption of Units			(6,591)
Owners' Capital - Units, Ending balance		146,641	146,641
Net asset value per unit, Beginning balance			$ 175.95
Change in net asset value per unit for the period			(10.10)
Net asset value per unit, Ending balance		$ 165.85	165.85
Equinox Frontier Winton Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	248.56	226.23
Net asset value per unit, Ending balance	[1]	$ 216.43	$ 216.43
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 46,764
Net increase/(decrease) in Owners' Capital resulting from operations			(2,025)
Owners' Capital, Ending balance		$ 44,739	$ 44,739
Owners' Capital - Units, Beginning balance			207
Owners' Capital - Units, Ending balance		207	207
Net asset value per unit, Beginning balance			$ 226.23
Change in net asset value per unit for the period			(9.80)
Net asset value per unit, Ending balance		$ 216.43	$ 216.43
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 13,095,549
Redemption of Units			(148,360)
Net increase/(decrease) in Owners' Capital resulting from operations			(561,773)
Owners' Capital, Ending balance		$ 12,385,416	$ 12,385,416
Owners' Capital - Units, Beginning balance			57,886
Owners' Capital - Units, Redemption of Units			(661)
Owners' Capital - Units, Ending balance		57,225	57,225
Net asset value per unit, Beginning balance	[2]		$ 226.23
Change in net asset value per unit for the period	[2]		(9.80)
Net asset value per unit, Ending balance	[2]	$ 216.43	216.43
Equinox Frontier Winton Fund [Member] | Class 1AP [Member]
Net asset value per unit, Beginning balance	[1]	195.77	178.18
Net asset value per unit, Ending balance	[1]	$ 170.46	$ 170.46
Equinox Frontier Winton Fund [Member] | Class 1AP [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 38,042
Net increase/(decrease) in Owners' Capital resulting from operations			(1,647)
Owners' Capital, Ending balance		$ 36,395	$ 36,395
Owners' Capital - Units, Beginning balance			214
Owners' Capital - Units, Ending balance		214	214
Net asset value per unit, Beginning balance			$ 178.18
Change in net asset value per unit for the period			(7.72)
Net asset value per unit, Ending balance		$ 170.46	$ 170.46
Equinox Frontier Heritage Fund [Member]
Owners' Capital, Beginning balance			$ 16,566,877
Sale of Units			23,193
Redemption of Units			(469,510)
Change in control of ownership - Trading Companies			(27,363)
Operations attributable to non-controlling interests		$ (839,599)	127,516
Net increase/(decrease) in Owners' Capital resulting from operations		(2,101,869)	(334,181)
Owners' Capital, Ending balance		15,886,532	15,886,532
Equinox Frontier Heritage Fund [Member] | Non-Controlling Interests [Member]
Owners' Capital, Beginning balance			3,539,498
Change in control of ownership - Trading Companies			(27,363)
Operations attributable to non-controlling interests			127,516
Owners' Capital, Ending balance		$ 3,639,651	$ 3,639,651
Equinox Frontier Heritage Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 147.87	$ 130.28
Net asset value per unit, Ending balance	[1]	$ 126.10	$ 126.10
Equinox Frontier Heritage Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 9,761,819
Sale of Units			21,905
Redemption of Units			(356,862)
Net increase/(decrease) in Owners' Capital resulting from operations			(285,834)
Owners' Capital, Ending balance		$ 9,141,028	$ 9,141,028
Owners' Capital - Units, Beginning balance			74,927
Owners' Capital - Units, Sale of Units			158
Owners' Capital - Units, Redemption of Units			(2,596)
Owners' Capital - Units, Ending balance		72,489	72,489
Net asset value per unit, Beginning balance			$ 130.28
Change in net asset value per unit for the period			(4.18)
Net asset value per unit, Ending balance		$ 126.10	126.10
Equinox Frontier Heritage Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	201.89	176.56
Net asset value per unit, Ending balance	[1]	$ 173.45	$ 173.45
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 75,621
Net increase/(decrease) in Owners' Capital resulting from operations			(1,330)
Owners' Capital, Ending balance		$ 74,291	$ 74,291
Owners' Capital - Units, Beginning balance			428
Owners' Capital - Units, Ending balance		428	428
Net asset value per unit, Beginning balance			$ 176.56
Change in net asset value per unit for the period			(3.11)
Net asset value per unit, Ending balance		$ 173.45	$ 173.45
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 3,131,561
Redemption of Units			(112,648)
Net increase/(decrease) in Owners' Capital resulting from operations			(45,845)
Owners' Capital, Ending balance		$ 2,973,068	$ 2,973,068
Owners' Capital - Units, Beginning balance			17,736
Owners' Capital - Units, Redemption of Units			(596)
Owners' Capital - Units, Ending balance		17,140	17,140
Net asset value per unit, Beginning balance	[2]		$ 176.56
Change in net asset value per unit for the period	[2]		(3.11)
Net asset value per unit, Ending balance	[2]	$ 173.45	173.45
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member]
Net asset value per unit, Beginning balance	[1]	150.86	131.93
Net asset value per unit, Ending balance	[1]	$ 129.61	$ 129.61
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 58,378
Sale of Units			1,288
Net increase/(decrease) in Owners' Capital resulting from operations			(1,172)
Owners' Capital, Ending balance		$ 58,494	$ 58,494
Owners' Capital - Units, Beginning balance			443
Owners' Capital - Units, Sale of Units			9
Owners' Capital - Units, Ending balance		452	452
Net asset value per unit, Beginning balance			$ 131.93
Change in net asset value per unit for the period			(2.32)
Net asset value per unit, Ending balance		$ 129.61	$ 129.61
Equinox Frontier Long/Short Commodity Fund [Member]
Owners' Capital, Beginning balance			$ 16,616,919
Sale of Units			148,785
Redemption of Units			(1,882,547)
Payment made by the Managing Owner			907,162
Net increase/(decrease) in Owners' Capital resulting from operations		$ (2,045,099)	271,083
Owners' Capital, Ending balance		$ 16,061,402	$ 16,061,402
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	$ 166.20	$ 138.30
Net asset value per unit, Ending balance	[1]	$ 148.16	$ 148.16
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 426,377
Net increase/(decrease) in Owners' Capital resulting from operations			30,397
Owners' Capital, Ending balance		$ 456,774	$ 456,774
Owners' Capital - Units, Beginning balance			3,083
Owners' Capital - Units, Ending balance		3,083	3,083
Net asset value per unit, Beginning balance	[2]		$ 138.30
Change in net asset value per unit for the period	[2]		9.86
Net asset value per unit, Ending balance	[2]	$ 148.16	$ 148.16
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 820,104
Redemption of Units			(181,144)
Payment made by the Managing Owner			69,364
Net increase/(decrease) in Owners' Capital resulting from operations			(3,100)
Owners' Capital, Ending balance		$ 705,224	$ 705,224
Owners' Capital - Units, Beginning balance			5,930
Owners' Capital - Units, Redemption of Units			(1,170)
Owners' Capital - Units, Ending balance		4,760	4,760
Net asset value per unit, Beginning balance	[2]		$ 138.30
Change in net asset value per unit for the period	[2]		9.86
Net asset value per unit, Ending balance	[2]	$ 148.16	148.16
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member]
Net asset value per unit, Beginning balance	[1]	166.06	138.34
Net asset value per unit, Ending balance	[1]	$ 148.20	$ 148.20
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 7,233,099
Redemption of Units			(454,734)
Payment made by the Managing Owner			397,940
Net increase/(decrease) in Owners' Capital resulting from operations			133,026
Owners' Capital, Ending balance		$ 7,309,331	$ 7,309,331
Owners' Capital - Units, Beginning balance			52,285
Owners' Capital - Units, Redemption of Units			(2,965)
Owners' Capital - Units, Ending balance		49,320	49,320
Net asset value per unit, Beginning balance			$ 138.34
Change in net asset value per unit for the period			9.86
Net asset value per unit, Ending balance		$ 148.20	148.20
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a [Member]
Net asset value per unit, Beginning balance	[1]	120.70	101.12
Net asset value per unit, Ending balance	[1]	$ 107.17	$ 107.17
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 5,776,906
Sale of Units			23,000
Redemption of Units			(874,536)
Payment made by the Managing Owner			312,393
Net increase/(decrease) in Owners' Capital resulting from operations			68,951
Owners' Capital, Ending balance		$ 5,306,714	$ 5,306,714
Owners' Capital - Units, Beginning balance			57,130
Owners' Capital - Units, Sale of Units			211
Owners' Capital - Units, Redemption of Units			(7,823)
Owners' Capital - Units, Ending balance		49,518	49,518
Net asset value per unit, Beginning balance			$ 101.12
Change in net asset value per unit for the period			6.05
Net asset value per unit, Ending balance		$ 107.17	107.17
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2a [Member]
Net asset value per unit, Beginning balance	[1]	133.49	111.35
Net asset value per unit, Ending balance	[1]	$ 119.03	$ 119.03
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 247,434
Net increase/(decrease) in Owners' Capital resulting from operations			17,085
Owners' Capital, Ending balance		$ 264,519	$ 264,519
Owners' Capital - Units, Beginning balance			2,222
Owners' Capital - Units, Ending balance		2,222	2,222
Net asset value per unit, Beginning balance	[2]		$ 111.35
Change in net asset value per unit for the period	[2]		7.68
Net asset value per unit, Ending balance	[2]	$ 119.03	$ 119.03
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 1,455,117
Sale of Units			5,000
Redemption of Units			(281,680)
Payment made by the Managing Owner			90,860
Net increase/(decrease) in Owners' Capital resulting from operations			15,092
Owners' Capital, Ending balance		$ 1,284,389	$ 1,284,389
Owners' Capital - Units, Beginning balance			13,069
Owners' Capital - Units, Sale of Units			40
Owners' Capital - Units, Redemption of Units			(2,318)
Owners' Capital - Units, Ending balance		10,791	10,791
Net asset value per unit, Beginning balance	[2]		$ 111.35
Change in net asset value per unit for the period	[2]		7.68
Net asset value per unit, Ending balance	[2]	$ 119.03	119.03
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3a [Member]
Net asset value per unit, Beginning balance	[1]	134.09	111.77
Net asset value per unit, Ending balance	[1]	$ 119.64	$ 119.64
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 12,228
Net increase/(decrease) in Owners' Capital resulting from operations			860
Owners' Capital, Ending balance		$ 13,088	$ 13,088
Owners' Capital - Units, Beginning balance			109
Owners' Capital - Units, Ending balance		109	109
Net asset value per unit, Beginning balance	[2]		$ 111.77
Change in net asset value per unit for the period	[2]		7.87
Net asset value per unit, Ending balance	[2]	$ 119.64	$ 119.64
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 645,654
Sale of Units			120,785
Redemption of Units			(90,453)
Payment made by the Managing Owner			36,605
Net increase/(decrease) in Owners' Capital resulting from operations			8,772
Owners' Capital, Ending balance		$ 721,363	$ 721,363
Owners' Capital - Units, Beginning balance			5,777
Owners' Capital - Units, Sale of Units			969
Owners' Capital - Units, Redemption of Units			(716)
Owners' Capital - Units, Ending balance		6,030	6,030
Net asset value per unit, Beginning balance	[2]		$ 111.77
Change in net asset value per unit for the period	[2]		7.87
Net asset value per unit, Ending balance	[2]	$ 119.64	$ 119.64
Equinox Frontier Balanced Fund [Member]
Owners' Capital, Beginning balance			$ 108,470,111
Sale of Units			128,231
Redemption of Units			(4,743,413)
Change in control of ownership - Trading Companies			(8,126,145)
Contributions			0
Distributions			0
Payment made by the Managing Owner			160,099
Operations attributable to non-controlling interests		$ (473,996)	356,146
Net increase/(decrease) in Owners' Capital resulting from operations		(12,148,257)	779,026
Owners' Capital, Ending balance		97,024,055	97,024,055
Equinox Frontier Balanced Fund [Member] | Non-Controlling Interests [Member]
Owners' Capital, Beginning balance			8,944,274
Change in control of ownership - Trading Companies			(8,126,145)
Contributions			0
Distributions			0
Operations attributable to non-controlling interests			356,146
Owners' Capital, Ending balance		$ 1,174,275	$ 1,174,275
Equinox Frontier Balanced Fund [Member] | Class 1 [Member]
Net asset value per unit, Beginning balance	[1]	$ 148.80	$ 131.54
Net asset value per unit, Ending balance	[1]	$ 131.82	$ 131.82
Equinox Frontier Balanced Fund [Member] | Class 1 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 72,098,275
Sale of Units			117,365
Redemption of Units			(4,065,683)
Contributions			0
Distributions			0
Payment made by the Managing Owner			115,486
Net increase/(decrease) in Owners' Capital resulting from operations			297,028
Owners' Capital, Ending balance		$ 68,562,471	$ 68,562,471
Owners' Capital - Units, Beginning balance			548,117
Owners' Capital - Units, Sale of Units			830
Owners' Capital - Units, Redemption of Units			(28,818)
Owners' Capital - Units, Ending balance		520,129	520,129
Net asset value per unit, Beginning balance			$ 131.54
Change in net asset value per unit for the period			0.28
Net asset value per unit, Ending balance		$ 131.82	131.82
Equinox Frontier Balanced Fund [Member] | Class 2 [Member]
Net asset value per unit, Beginning balance	[1]	204.17	179.16
Net asset value per unit, Ending balance	[1]	$ 182.24	$ 182.24
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 1,425,355
Contributions			0
Distributions			0
Net increase/(decrease) in Owners' Capital resulting from operations			24,447
Owners' Capital, Ending balance		$ 1,449,802	$ 1,449,802
Owners' Capital - Units, Beginning balance			7,956
Owners' Capital - Units, Ending balance		7,956	7,956
Net asset value per unit, Beginning balance	[2]		$ 179.16
Change in net asset value per unit for the period	[2]		3.08
Net asset value per unit, Ending balance	[2]	$ 182.24	$ 182.24
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 22,125,342
Sale of Units			9,409
Redemption of Units			(524,931)
Contributions			0
Distributions			0
Payment made by the Managing Owner			38,375
Net increase/(decrease) in Owners' Capital resulting from operations			376,969
Owners' Capital, Ending balance		$ 22,025,164	$ 22,025,164
Owners' Capital - Units, Beginning balance			123,491
Owners' Capital - Units, Sale of Units			48
Owners' Capital - Units, Redemption of Units			(2,680)
Owners' Capital - Units, Ending balance		120,859	120,859
Net asset value per unit, Beginning balance	[2]		$ 179.16
Change in net asset value per unit for the period	[2]		3.08
Net asset value per unit, Ending balance	[2]	$ 182.24	182.24
Equinox Frontier Balanced Fund [Member] | Class 2a [Member]
Net asset value per unit, Beginning balance	[1]	174.76	153.02
Net asset value per unit, Ending balance	[1]	$ 156.36	$ 156.36
Equinox Frontier Balanced Fund [Member] | Class 2a [Member] | Managing Owner [Member]
Owners' Capital, Beginning balance			$ 189,344
Contributions			0
Distributions			0
Net increase/(decrease) in Owners' Capital resulting from operations			4,132
Owners' Capital, Ending balance		$ 193,476	$ 193,476
Owners' Capital - Units, Beginning balance			1,237
Owners' Capital - Units, Ending balance		1,237	1,237
Net asset value per unit, Beginning balance	[2]		$ 153.02
Change in net asset value per unit for the period	[2]		3.34
Net asset value per unit, Ending balance	[2]	$ 156.36	$ 156.36
Equinox Frontier Balanced Fund [Member] | Class 2a [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 410,943
Redemption of Units			(60,850)
Contributions			0
Distributions			0
Payment made by the Managing Owner			885
Net increase/(decrease) in Owners' Capital resulting from operations			8,852
Owners' Capital, Ending balance		$ 359,830	$ 359,830
Owners' Capital - Units, Beginning balance			2,686
Owners' Capital - Units, Redemption of Units			(384)
Owners' Capital - Units, Ending balance		2,302	2,302
Net asset value per unit, Beginning balance	[2]		$ 153.02
Change in net asset value per unit for the period	[2]		3.34
Net asset value per unit, Ending balance	[2]	$ 156.36	156.36
Equinox Frontier Balanced Fund [Member] | Class 3a [Member]
Net asset value per unit, Beginning balance	[1]	174.19	152.52
Net asset value per unit, Ending balance	[1]	$ 155.85	$ 155.85
Equinox Frontier Balanced Fund [Member] | Class 3a [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 2,528,303
Redemption of Units			(52,948)
Contributions			0
Distributions			0
Payment made by the Managing Owner			4,131
Net increase/(decrease) in Owners' Capital resulting from operations			54,675
Owners' Capital, Ending balance		$ 2,534,161	$ 2,534,161
Owners' Capital - Units, Beginning balance			16,577
Owners' Capital - Units, Redemption of Units			(316)
Owners' Capital - Units, Ending balance		16,261	16,261
Net asset value per unit, Beginning balance			$ 152.52
Change in net asset value per unit for the period			3.33
Net asset value per unit, Ending balance		$ 155.85	155.85
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member]
Net asset value per unit, Beginning balance	[1]	151.80	133.20
Net asset value per unit, Ending balance	[1]	$ 135.49	$ 135.49
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member] | Limited Owners [Member]
Owners' Capital, Beginning balance			$ 748,275
Sale of Units			1,457
Redemption of Units			(39,001)
Contributions			0
Distributions			0
Payment made by the Managing Owner			1,222
Net increase/(decrease) in Owners' Capital resulting from operations			12,923
Owners' Capital, Ending balance		$ 724,876	$ 724,876
Owners' Capital - Units, Beginning balance			5,618
Owners' Capital - Units, Sale of Units			10
Owners' Capital - Units, Redemption of Units			(277)
Owners' Capital - Units, Ending balance		5,351	5,351
Net asset value per unit, Beginning balance			$ 133.20
Change in net asset value per unit for the period			2.29
Net asset value per unit, Ending balance		$ 135.49	$ 135.49

[1] Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

[2] Values are for both the Managing Owner and Limited Owners.

[3] Total returns are not annualized.

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Investments in Unconsolidated Trading Companies - Statements of Financial Condition (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Receivable from commission merchants	$ 61,682,864	$ 65,911,348
Total Assets	256,175,844	287,406,631
Frontier Trading Company II LLC [Member]
Investment [Line Items]
Receivable from commission merchants	12,124,771	18,121,232
Open trade equity/(deficit)	(278,805)	2,107,459
Interest receivable/(payable)	78	607
Total Assets	11,846,044	20,229,298
Members' equity	11,846,044	20,229,298
Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Receivable from commission merchants	6,069,994	1,834,790
Open trade equity/(deficit)	3,259,443	3,617,656
Interest receivable/(payable)	(40)	(160)
Total Assets	9,329,397	5,452,286
Members' equity	9,329,397	5,452,286
Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Receivable from commission merchants	6,984,925	4,826,699
Open trade equity/(deficit)	(620,620)	256,729
Interest receivable/(payable)	277	7
Total Assets	6,364,582	5,083,435
Members' equity	$ 6,364,582	5,083,435
Frontier Trading Company I LLC [Member]
Investment [Line Items]
Receivable from commission merchants		13,015,321
Open trade equity/(deficit)		2,937,971
Interest receivable/(payable)		(2,291)
Total Assets		15,951,001
Members' equity		15,951,001
Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Receivable from commission merchants		11,072,355
Open trade equity/(deficit)		3,510,148
Interest receivable/(payable)		817
Total Assets		14,583,320
Members' equity		$ 14,583,320

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Investments in Unconsolidated Trading Companies (Tables) - The Series of Equinox Frontier Funds [Member]

6 Months Ended

Jun. 30, 2015

Investments in Unconsolidated Trading Companies

The following table summarizes each of the Series’ investments in unconsolidated Trading Companies as of June 30, 2015 and December 31, 2014:

	As of June 30, 2015					As of December 31, 2014
	Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value		Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value
Series
Equinox Frontier Diversified Fund — Frontier Trading Companies I, II, VII, IX, XIV, XV, XXXIII and XXXVIII		9.96	%	$	6,198,464		9.11	%	$	6,594,379
Equinox Frontier Masters Fund — Frontier Trading Companies II, XIV, XV and XXXVIII		38.63	%	$	8,767,520		30.74	%	$	7,901,978
Equinox Frontier Long/Short Commodity Fund — Frontier Trading Companies I and XXXVIII		24.26	%	$	3,896,994		22.96	%	$	3,814,854
Equinox Frontier Balanced Fund — Frontier Trading Companies II, VII, XV and XXXVIII		14.77	%	$	14,333,796		16.92	%	$	18,343,927
Equinox Frontier Select Fund — Frontier Trading Companies XV, XXXVIII and XXXIX		20.83	%	$	4,013,269		53.06	%	$	8,102,141
Equinox Frontier Winton Fund — Frontier Trading Company II and XXXVIII		18.35	%	$	6,749,039		18.68	%	$	7,479,658
Equinox Frontier Heritage Fund — Frontier Trading Companies II and XXXVIII		8.80	%	$	1,398,043		9.32	%	$	1,543,386

Equity in Earnings from Unconsolidated Trading Companies

The following tables summarize each of the Series’ equity in earnings from unconsolidated Trading Companies for the three and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30, 2015												Three Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(77,867	)	$	950,477		$	1,028,045		$	1,900,655
Frontier Trading Company II LLC		(4,246	)		(685,823	)		(420,717	)		(1,110,786	)		(4,241	)		865,388			(8,894	)		852,253
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(85,942	)		(1,382,324	)		1,810,489			342,223			(96,234	)		(663,204	)		608,781			(150,657	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(41,516	)		249,214			263,796			471,494
Frontier Trading Company XV, LLC		—			—			—			—			(12,052	)		(487,276	)		155,923			(343,405	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(17,919	)		(151,523	)		(304,555	)		(473,997	)		(11,949	)		789,665			92,152			869,868
Frontier Trading Company XXXVIII, LLC		(10,482	)		77,904			(236,705	)		(169,283	)		—			—						—
Frontier Trading Company XXXIX, LLC		—			—			—			—			(11,766	)		(127,320	)		(97,402	)		(236,488	)
Total	$	(118,589	)	$	(2,141,766	)	$	848,512		$	(1,411,843	)	$	(255,625	)	$	1,576,944		$	2,042,401		$	3,363,720
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(6,561	)	$	(78,343	)	$	(920,425	)	$	(1,005,329	)	$	(8,994	)	$	441,002		$	166,625		$	598,633
Frontier Trading Company II LLC		(2,613	)		(420,988	)		(264,127	)	$	(687,728	)		(3,095	)		627,805			(8,751	)		615,959
Frontier Trading Company XIV, LLC		—			—			—			—			(36,029	)		189,278			214,868			368,117
Frontier Trading Company XV, LLC		(14,857	)		(979,930	)		(372,004	)		(1,366,791	)		(24,092	)		125,464			287,803			389,175
Frontier Trading Company VII, LLC		(50,573	)		(775,283	)		1,063,371			237,515
Frontier Trading Company XXXVIII, LLC		(4,586	)		35,342			(122,309	)		(91,553	)		(6,083	)		(78,704	)		(42,756	)		(127,533	)
Total	$	(79,190	)	$	(2,219,202	)	$	(615,494	)	$	(2,913,886	)	$	(78,293	)	$	1,304,845		$	617,789		$	1,844,351
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(63,635	)		(1,450,691	)		1,054,760			(459,566	)		(79,249	)		(199,250	)		450,592			172,093
Frontier Trading Companies XVIII, LLC		—			—			—			—			(9,017	)		(338,735	)		(291,055	)		(638,807	)
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,865	)		19,681			(69,554	)		(52,738	)		—			—			—			—
Total	$	(66,500	)	$	(1,431,010	)	$	985,206		$	(512,304	)	$	(88,266	)	$	(537,985	)	$	159,537		$	(466,714	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(83,797	)	$	975,639		$	(208,851	)		682,991		$	(263,573	)	$	1,115,464		$	(362,505	)		489,386
Frontier Trading Company II LLC		(5,791	)		(937,794	)		(560,595	)		(1,504,180	)		(12,088	)		(686,492	)		1,317,845			619,265
Frontier Trading Company V LLC		—			—			—			—												—
Frontier Trading Company VII, LLC		(97,027	)		(1,669,662	)		2,061,923			295,234			36,410			685,775			(1,108,643	)		(386,458	)
Frontier Trading Company XIV, LLC		—			—			—			—			(23,141	)		99,184			(416,179	)		(340,136	)
Frontier Trading Company XV, LLC		(231	)		(492,925	)		493,274			118			22,806			(867,989	)		1,231,415			386,232
Frontier Trading Company XVI, LLC		—			—			—			—												—
Frontier Trading Company XVIII, LLC		—			—			—			—												—
Frontier Trading Company XXIII, LLC		—			—			—			—												—
Frontier Trading Company XXXVIII, LLC		(17,308	)		134,812			(445,903	)		(328,399	)		(768,673	)		1,833,086			(991,089	)		73,324
Frontier Trading Company XXXIX, LLC		—			—			—			—			(75,543	)		(1,180,680	)		612,399			(643,824	)
Total	$	(204,154	)	$	(1,989,930	)	$	1,339,848		$	(854,236	)	$	(1,083,802	)	$	998,348		$	283,243		$	197,789
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC					—			(2	)		(2	)		(31,676	)		106,074			415,981			490,379
Frontier Trading Company XXI, LLC								(967,125	)		(967,125	)					—			—			—
Frontier Trading Company XXXVIII, LLC		(2,577	)		7,618			(23,723	)		(17,104	)		(2,970	)		(33,431	)		(15,011	)		(51,412	)
Frontier Trading Company XXXIX, LLC								127,518			127,518			(1,556	)		—			331,515			329,959
Total	$	(2,577	)	$	7,618		$	(863,332	)	$	(856,713	)	$	(36,202	)	$	72,643		$	732,485		$	768,926
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(14,911	)	$	(2,419,574	)	$	(1,407,788	)	$	(3,842,273	)	$	(13,657	)	$	2,787,074		$	(31,073	)	$	2,742,344
Frontier Trading Company XXXVIII ,LLC		(9,599	)		73,551			(282,923	)	$	(218,971	)		(9,787	)		(105,773	)		(73,711	)		(189,271	)
Total	$	(24,510	)	$	(2,346,023	)	$	(1,690,711	)	$	(4,061,244	)	$	(23,444	)	$	2,681,301		$	(104,784	)	$	2,553,073
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(2,685	)	$	(435,646	)	$	(252,853	)	$	(691,184	)	$	(3,057	)	$	623,800		$	(6,880	)	$	613,593
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,163	)		16,512			(62,218	)		(47,870	)		(2,639	)		(32,058	)		(21,536	)		(56,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(4,848	)	$	(419,134	)	$	(315,071	)	$	(739,054	)	$	(5,696	)	$	591,742		$	(28,416	)	$	557,360

	Six Months Ended June 30, 2015												Six Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(148,260	)	$	2,095,105		$	421,786		$	2,368,631
Frontier Trading Company II LLC		(8,329	)		647,469			(548,028	)		91,112			(8,992	)		1,132,028			(293,721	)		829,315
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(168,323	)		726,185			587,363			1,145,225			(248,337	)		(1,280,664	)		370,672			(1,158,329	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(101,125	)		(378,786	)		323,498			(156,413	)
Frontier Trading Company XV, LLC		—			—			—			—			(27,763	)		172,591			(786,997	)		(642,169	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(37,701	)		721,086			(330,774	)		352,611			(24,150	)		1,073,089			187,658			1,236,597
Frontier Trading Company XXXVIII, LLC		(17,490	)		952,971			(463,563	)		471,918			(24,173	)		(894,004	)		(675,056	)		(1,593,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(231,843	)	$	3,047,711		$	(755,002	)	$	2,060,866		$	(582,800	)	$	1,919,359		$	(452,160	)	$	884,399
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(10,535	)	$	1,180,694		$	(1,058,847	)	$	111,312		$	(14,650	)	$	84,485		$	656,689		$	726,524
Frontier Trading Company II LLC		(4,942	)		331,851			(335,234	)	$	(8,325	)		(6,805	)		841,881			(248,924	)		586,152
Frontier Trading Company XIV, LLC		(28,979	)		148,053			(801,924	)		(682,850	)		(95,138	)		(433,918	)		213,162			(315,894	)
Frontier Trading Company XV, LLC		(86,516	)		2,635,986			(1,948,507	)		600,963			(53,547	)		805,913			(875,590	)		(123,224	)
Frontier Trading Company XXXVIII, LLC		(7,391	)		333,664			(165,500	)		160,773			(13,153	)		(497,344	)		(372,146	)		(882,643	)
Total	$	(138,363	)	$	4,630,248		$	(4,310,012	)	$	181,873		$	(183,293	)	$	801,017		$	(626,809	)	$	(9,085	)
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(148,403	)		1,306,637			125,916			1,284,150			(84,192	)		(492,410	)		202,711			(373,891	)
Frontier Trading Companies XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(4,833	)		276,057			(133,153	)		138,071			(9,017	)		(338,735	)		(290,717	)		(638,469	)
Total	$	(153,236	)	$	1,582,694		$	(7,237	)	$	1,422,221		$	(93,209	)	$	(831,145	)	$	(88,006	)	$	(1,012,360	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(173,656	)	$	3,024,584		$	28,819			2,879,747		$	(21,190	)	$	(40,139	)	$	887,729			826,400
Frontier Trading Company II LLC		(10,988	)		749,066			(720,413	)		17,665			(12,125	)		1,514,527			(547,779	)		954,623
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(189,079	)		646,642			714,340			1,171,903			(237,492	)		(1,772,506	)		684,757			(1,325,241	)
Frontier Trading Company XIV, LLC		—			—			—			—			(75,543	)		(1,180,680	)		610,861			(645,362	)
Frontier Trading Company XV, LLC		(124	)		(217,025	)		217,318			169			(44,315	)		(299,183	)		(581,076	)		(924,574	)
Frontier Trading Company XVI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(27,010	)		1,355,729			(729,990	)		598,729			(42,486	)		(1,584,456	)		(1,141,801	)		(2,768,743	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			(1,538	)		(1,538	)
Total	$	(400,857	)	$	5,558,996		$	(489,926	)	$	4,668,213		$	(433,151	)	$	(3,362,437	)	$	(88,847	)	$	(3,884,435	)
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC		—			(195	)		2,173			1,978			(60,926	)		819,051			(483,409	)		274,716
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(1,797	)		64,307			(16,288	)		46,222			(6,234	)		(227,323	)		(163,164	)		(396,721	)
Frontier Trading Company XXXIX, LLC								127,536			127,536			(1,556	)		—			(204,940	)		(206,496	)
Total	$	(1,797	)	$	64,112		$	113,421		$	175,736		$	(68,716	)	$	591,728		$	(851,513	)	$	(328,501	)
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(28,184	)	$	1,889,892		$	(1,817,483	)	$	44,225		$	(27,607	)	$	3,664,132		$	(917,278	)	$	2,719,247
Frontier Trading Company XXXVIII ,LLC		(15,485	)		748,101			(394,852	)	$	337,764			(19,326	)		(670,668	)		(468,437	)		(1,158,431	)
Total	$	(43,669	)	$	2,637,993		$	(2,212,335	)	$	381,989		$	(46,933	)	$	2,993,464		$	(1,385,715	)	$	1,560,816
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(5,187	)	$	380,897		$	(330,929	)	$	44,781		$	(6,182	)	$	820,288		$	(205,585	)	$	608,521
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(3,489	)		167,362			(86,307	)		77,566			(5,444	)		(199,276	)		(149,643	)		(354,363	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(8,676	)	$	548,259		$	(417,236	)	$	122,347		$	(11,626	)	$	621,012		$	(355,228	)	$	254,158

Financial Statements of Unconsolidated Trading Companies

The statements of financial condition as of June 30, 2015 and December 31, 2014 and the Condensed Statement of Income for the three and six months ended June 30, 2015 and 2014 for the unconsolidated Trading Companies are as follows:

Statements of Financial Condition - June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	12,124,771		$	6,069,994		$	6,984,925
Open trade equity/(deficit)		(278,805	)		3,259,443			(620,620	)
Interest receivable/(payable)		78			(40	)		277
Total assets	$	11,846,044		$	9,329,397		$	6,364,582
Members’ equity	$	11,846,044		$	9,329,397		$	6,364,582
Condensed Statement of Income - For the Three Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,243	)	$	479		$	707
Net realized gain/(loss) on investments, less		(3,431,043	)		(8,596,912	)		(2,837,649	)
Change in open trade equity/(deficit)		(955,908	)		3,773,587			1,391,567
Net income/(loss)	$	(4,388,194	)	$	(4,822,846	)	$	(1,445,375	)
Condensed Statement of Income - For the Six Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,630	)	$	589		$	707
Net realized gain/(loss) on investments, less		(3,941,511	)		(5,937,702	)		(3,827,270	)
Change in open trade equity/(deficit)		3,752,063			523,855			1,996,206
Net income/(loss)	$	(191,078	)	$	(5,413,258	)	$	(1,830,357	)

Statements of Financial Condition - December 31, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	13,015,321		$	18,121,232		$	1,834,790		$	11,072,355		$	4,826,699
Open trade equity/(deficit)		2,937,971			2,107,459			3,617,656			3,510,148			256,729
Interest receivable/(payable)		(2,291	)		607			(160	)		817			7
Total assets	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Members’ equity	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Condensed Statement of Income - For the Three Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(1,560	)	$	857		$	2,012		$	497
Net realized gain/(loss) on investments, less		(4,217,338	)		(5,965,412	)		5,454,372			1,510,226			735,318
Change in open trade equity/(deficit)		(312,487	)		69,697			(1,329,358	)		(1,504,440	)		431,576
Net income/(loss)	$	(4,517,305	)	$	(5,897,275	)	$	4,125,871		$	7,798		$	1,167,391
Condensed Statement of Income - For the Six Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(2,520	)	$	857		$	2,237		$	1,916
Net realized gain/(loss) on investments, less		(4,217,338	)		(7,909,584	)		5,454,372			(1,313,834	)		4,531,142
Change in open trade equity/(deficit)		(312,487	)		2,213,834			(1,329,358	)		2,737,190			3,263,786
Net income/(loss)	$	(4,517,305	)	$	(5,698,270	)	$	4,125,871		$	1,425,593		$	7,796,844

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Investments in Unconsolidated Trading Companies - Condensed Statements of Income (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investment [Line Items]
Change in open trade equity/(deficit)	$ (3,193,895)	$ 5,985,923	$ (13,495,336)	$ (5,042,030)
Frontier Trading Company I LLC [Member]
Investment [Line Items]
Interest income		12,520		12,520
Net realized gain/(loss) on investments, less		(4,217,338)		(4,217,338)
Change in open trade equity/(deficit)		(312,487)		(312,487)
Net Income (Loss)		(4,517,305)		(4,517,305)
Frontier Trading Company II LLC [Member]
Investment [Line Items]
Interest income	(1,243)	(1,560)	(1,630)	(2,520)
Net realized gain/(loss) on investments, less	(3,431,043)	(5,965,412)	(3,941,511)	(7,909,584)
Change in open trade equity/(deficit)	(955,908)	69,697	3,752,063	2,213,834
Net Income (Loss)	(4,388,194)	(5,897,275)	(191,078)	(5,698,270)
Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Interest income	479	857	589	857
Net realized gain/(loss) on investments, less	(8,596,912)	5,454,372	(5,937,702)	5,454,372
Change in open trade equity/(deficit)	3,773,587	(1,329,358)	523,855	(1,329,358)
Net Income (Loss)	(4,822,846)	4,125,871	(5,413,258)	4,125,871
Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Interest income		2,012		2,237
Net realized gain/(loss) on investments, less		1,510,226		(1,313,834)
Change in open trade equity/(deficit)		(1,504,440)		2,737,190
Net Income (Loss)		7,798		1,425,593
Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Interest income	707	497	707	1,916
Net realized gain/(loss) on investments, less	(2,837,649)	735,318	(3,827,270)	4,531,142
Change in open trade equity/(deficit)	1,391,567	431,576	1,996,206	3,263,786
Net Income (Loss)	$ (1,445,375)	$ 1,167,391	$ (1,830,357)	$ 7,796,844

XML

Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Financial Highlights of Trust

The following information presents the financial highlights of the Trust, with respect to the Series, for the three and six months ended June 30, 2015 and 2014.

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2015	$	131.66		$	145.76		$	134.57		$	128.38		$	142.12		$	131.73		$	166.20		$	166.06		$	120.70		$	133.49		$	134.09
Net operating results:
Interest income		0.32			0.36			0.33			0.33			0.36			0.34			0.39			0.39			0.28			0.31			0.31
Expenses		(2.02	)		(1.39	)		(1.28	)		(2.44	)		(1.97	)		(1.82	)		(2.12	)		(2.12	)		(2.11	)		(1.70	)		(1.71	)
Net gain/(loss) on investments, net of non-controlling interests		(14.41	)		(16.24	)		(14.92	)		(16.26	)		(18.19	)		(16.80	)		(16.31	)		(16.13	)		(11.70	)		(13.07	)		(13.05	)
Net income/(loss)		(16.11	)		(17.27	)		(15.87	)		(18.37	)		(19.80	)		(18.28	)		(18.04	)		(17.86	)		(13.53	)		(14.46	)		(14.45	)
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-5.46	%		-2.97	%		-2.97	%		-6.56	%		-4.36	%		-4.36	%		-3.82	%		-3.82	%		-5.89	%		-3.82	%		-3.79	%
Expenses before incentive fees (4)		6.50	%		4.01	%		4.01	%		7.50	%		5.30	%		5.30	%		4.59	%		4.59	%		6.67	%		4.59	%		4.55	%
Expenses after incentive fees (4)		6.51	%		4.02	%		4.02	%		7.67	%		5.46	%		5.46	%		4.83	%		4.83	%		6.90	%		4.83	%		4.80	%
Total return before incentive fees (2)		-12.23	%		-11.84	%		-11.79	%		-14.14	%		-13.77	%		-13.71	%		-10.62	%		-10.52	%		-10.98	%		-10.60	%		-10.53	%
Total return after incentive fees (2)		-12.24	%		-11.85	%		-11.79	%		-14.31	%		-13.93	%		-13.88	%		-10.85	%		-10.76	%		-11.21	%		-10.83	%		-10.78	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	148.80		$	151.80		$	204.17		$	174.76		$	174.19					$	106.16		$	108.31		$	143.73
Net operating results:
Interest income		0.01			0.01			0.02			0.01			0.01						0.00			0.00			0.00
Expenses		(1.71	)		(0.66	)		(0.89	)		(0.76	)		(0.76	)					(1.42	)		(0.70	)		(0.93	)
Net gain/(loss) on investments, net of non-controlling interests		(15.28	)		(15.66	)		(21.06	)		(17.65	)		(17.59	)					(17.43	)		(17.87	)		(23.71	)
Net income/(loss)		(16.98	)		(16.31	)		(21.93	)		(18.40	)		(18.34	)					(18.85	)		(18.57	)		(24.64	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-4.76	%		-1.76	%		-1.76	%		-1.76	%		-1.76	%					-5.81	%		-2.81	%		-2.81	%
Expenses before incentive fees (4)		4.78	%		1.78	%		1.78	%		1.78	%		1.78	%					5.81	%		2.81	%		2.81	%
Expenses after incentive fees (4)		4.79	%		1.79	%		1.79	%		1.79	%		1.79	%					5.81	%		2.81	%		2.81	%
Total return before incentive fees (2)		-11.40	%		-10.74	%		-10.73	%		-10.52	%		-10.52	%					-17.76	%		-17.15	%		-17.14	%
Total return after incentive fees (2)		-11.41	%		-10.74	%		-10.74	%		-10.53	%		-10.53	%					-17.76	%		-17.15	%		-17.14	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	191.90		$	195.77		$	248.56		$	147.87		$	150.86		$	201.89
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(3.06	)		(1.76	)		(2.23	)		(2.01	)		(1.01	)		(1.35	)
Net gain/(loss) on investments, net of non-controlling interests		(22.99	)		(23.55	)		(29.90	)		(19.76	)		(20.24	)		(27.09	)
Net income/(loss)		(26.05	)		(25.31	)		(32.13	)		(21.77	)		(21.25	)		(28.44	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-6.83	%		-3.82	%		-3.82	%		-5.88	%		-2.88	%		-2.88	%
Expenses before incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Expenses after incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Total return before incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%
Total return after incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2014	$	113.09		$	124.67		$	115.03		$	116.61		$	128.53		$	119.06		$	138.30		$	138.34		$	101.12		$	111.35		$	111.77
Net operating results:
Interest income		0.66			0.73			0.68			0.67			0.74			0.68			0.79			0.79			0.58			0.64			0.64
Expenses		(7.34	)		(6.43	)		(5.94	)		(7.24	)		(6.53	)		(6.03	)		(5.86	)		(5.86	)		(5.42	)		(4.71	)		(4.73	)
Net gain/(loss) on investments, net of non-controlling interests		9.13			9.51			8.93			(0.03	)		(0.42	)		(0.26	)		14.93			14.93			10.90			11.76			11.96
Net income/(loss)		2.46			3.82			3.67			(6.60	)		(6.21	)		(5.61	)		9.86			9.86			6.05			7.68			7.87
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-8.11	%		-5.63	%		-5.63	%		-8.60	%		-6.39	%		-6.39	%		-5.01	%		-5.01	%		-7.10	%		-5.01	%		-4.94	%
Expenses before incentive fees (4)		6.49	%		4.01	%		4.01	%		7.45	%		5.24	%		5.24	%		4.45	%		4.45	%		6.54	%		4.45	%		4.31	%
Expenses after incentive fees (4)		9.18	%		6.70	%		6.70	%		9.71	%		7.49	%		7.49	%		6.04	%		6.04	%		8.13	%		6.04	%		5.97	%
Total return before incentive fees (2)		4.86	%		5.75	%		5.88	%		-3.40	%		-2.57	%		-2.45	%		8.72	%		8.72	%		7.57	%		8.49	%		8.70	%
Total return after incentive fees (2)		2.18	%		3.06	%		3.19	%		-5.66	%		-4.83	%		-4.71	%		7.13	%		7.13	%		5.98	%		6.90	%		7.04	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	131.54		$	133.20		$	179.16		$	153.02		$	152.52					$	95.61		$	96.82		$	128.48
Net operating results:
Interest income		0.02			0.02			0.03			0.02			0.02						0.00			0.00			0.00
Expenses		(5.40	)		(3.35	)		(4.51	)		(3.86	)		(3.84	)					(3.89	)		(2.44	)		(3.24	)
Net gain/(loss) on investments, net of non-controlling interests		5.66			5.62			7.56			7.17			7.15						(4.41	)		(4.64	)		(6.15	)
Net income/(loss)		0.28			2.29			3.08			3.34			3.33						(8.30	)		(7.08	)		(9.39	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-6.18	%		-3.17	%		-3.17	%		-3.17	%		-3.17	%					-6.80	%		-3.80	%		-3.80	%
Expenses before incentive fees (4)		4.78	%		1.77	%		1.77	%		1.77	%		1.77	%					5.79	%		2.79	%		2.79	%
Expenses after incentive fees (4)		6.21	%		3.20	%		3.20	%		3.20	%		3.20	%					6.80	%		3.80	%		3.80	%
Total return before incentive fees (2)		1.65	%		3.15	%		3.15	%		3.62	%		3.62	%					-7.67	%		-6.30	%		-6.29	%
Total return after incentive fees (2)		0.21	%		1.72	%		1.72	%		2.18	%		2.18	%					-8.68	%		-7.31	%		-7.31	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	175.95		$	178.18		$	226.23		$	130.28		$	131.93		$	176.56
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(9.39	)		(6.81	)		(8.65	)		(5.46	)		(3.45	)		(4.62	)
Net gain/(loss) on investments, net of non-controlling interests		(0.71	)		(0.91	)		(1.15	)		1.28			1.13			1.51
Net income/(loss)		(10.10	)		(7.72	)		(9.80	)		(4.18	)		(2.32	)		(3.11	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-8.62	%		-5.62	%		-5.62	%		-6.94	%		-3.93	%		-3.93	%
Expenses before incentive fees (4)		6.87	%		3.86	%		3.86	%		5.96	%		2.96	%		2.96	%
Expenses after incentive fees (4)		8.62	%		5.62	%		5.62	%		6.94	%		3.93	%		3.93	%
Total return before incentive fees (2)		-3.99	%		-2.58	%		-2.58	%		-2.23	%		-0.78	%		-0.79	%
Total return after incentive fees (2)		-5.74	%		-4.33	%		-4.33	%		-3.21	%		-1.76	%		-1.76	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2014	$	82.77		$	90.05		$	82.92		$	87.30		$	94.96		$	87.80		$	111.48		$	111.51		$	82.42		$	89.56		$	89.74
Net operating results:
Interest income		0.22			0.24			0.22			0.25			0.28			0.26			0.32			0.32			0.24			0.26			0.26
Expenses		(2.93	)		(2.66	)		(2.46	)		(2.42	)		(2.12	)		(1.97	)		(1.95	)		(1.95	)		(1.87	)		(1.57	)		(1.57	)
Net gain/(loss) on investments, net of non-controlling interests		6.71			7.18			6.69			7.84			8.45			7.88			2.32			2.32			1.97			2.07			2.13
Net income/(loss)		4.00			4.76			4.45			5.67			6.61			6.17			0.69			0.69			0.34			0.76			0.82
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-7.61	%		-5.26	%		-5.26	%		-7.78	%		-5.61	%		-5.61	%		-5.80	%		-5.80	%		-7.89	%		-5.80	%		-5.80	%
Expenses before incentive fees (4)		6.82	%		4.47	%		4.47	%		8.26	%		6.09	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Expenses after incentive fees (4)		8.65	%		6.31	%		4.47	%		8.93	%		6.77	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Total return before incentive fees (2)		6.67	%		7.12	%		5.37	%		7.17	%		7.64	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%
Total return after incentive fees (2)		4.83	%		5.29	%		5.37	%		6.49	%		6.96	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	101.99		$	135.81		$	115.17		$	114.80		$	75.01		$	98.55
Net operating results:
Interest income		0.01			0.01			0.01			0.01			0.00			0.00
Expenses		(2.27	)		(2.02	)		(1.72	)		(1.71	)		(1.58	)		(1.34	)
Net gain/(loss) on investments, net of non-controlling interests		4.13			5.55			5.02			4.99			4.80			6.35
Net income/(loss)		1.87			3.54			3.31			3.29			3.22			5.01
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-5.91	%		-2.91	%		-2.91	%		-2.91	%		-7.82	%		-4.81	%
Expenses before incentive fees (4)		4.94	%		1.93	%		1.93	%		1.93	%		7.63	%		4.63	%
Expenses after incentive fees (4)		5.94	%		2.94	%		2.94	%		2.94	%		7.82	%		4.81	%
Total return before incentive fees (2)		2.84	%		3.61	%		3.88	%		3.87	%		4.48	%		5.27	%
Total return after incentive fees (2)		1.83	%		2.61	%		2.87	%		2.87	%		4.29	%		5.08	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	136.93		$	172.12		$	95.41		$	126.41
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(4.21	)		(3.98	)		(2.38	)		(2.19	)
Net gain/(loss) on investments, net of non-controlling interests		12.35			15.58			9.55			12.71
Net income/(loss)		8.14			11.60			7.17			10.52
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.34	%		-5.34	%		-7.41	%		-4.41	%
Expenses before incentive fees (4)		7.13	%		4.12	%		6.65	%		3.64	%
Expenses after incentive fees (4)		8.34	%		5.34	%		7.41	%		4.41	%
Total return before incentive fees (2)		7.16	%		7.95	%		8.28	%		9.09	%
Total return after incentive fees (2)		5.94	%		6.74	%		7.51	%		8.32	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2013	$	87.10		$	94.35		$	84.21		$	91.83		$	99.46		$	91.91		$	125.26		$	125.30		$	92.73		$	100.34		$	100.47
Net operating results:
Interest income		0.45			0.49			0.45			0.53			0.58			0.54			0.71			0.71			0.52			0.57			0.57
Expenses		(4.84	)		(4.22	)		(3.88	)		(4.17	)		(3.53	)		(3.30	)		(4.01	)		(3.97	)		(3.82	)		(3.20	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		4.06			4.19			6.59			4.78			5.06			4.82			(9.79	)		(9.84	)		(6.67	)		(7.39	)		(7.30	)
Net income/(loss)		(0.33	)		0.46			3.16			1.14			2.11			2.06			(13.09	)		(13.10	)		(9.97	)		(10.02	)		(9.91	)
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-8.08	%		-5.75	%		-5.75	%		-7.67	%		-5.53	%		-5.53	%		-5.71	%		-5.71	%		-7.79	%		-5.71	%		-5.71	%
Expenses before incentive fees (4)		6.67	%		4.35	%		22.48	%		8.23	%		6.10	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Expenses after incentive fees (4)		9.17	%		6.84	%		22.48	%		8.90	%		6.76	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Total return before incentive fees (2)		2.12	%		2.98	%		3.75	%		1.90	%		2.78	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%
Total return after incentive fees (2)		-0.38	%		0.49	%		3.75	%		1.24	%		2.12	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	106.29		$	140.49		$	118.80		$	118.41		$	79.86		$	104.14
Net operating results:
Interest income		0.02			0.02			0.02			0.02			0.00			0.00
Expenses		(4.05	)		(3.37	)		(2.86	)		(2.85	)		(2.93	)		(2.37	)
Net gain/(loss) on investments, net of non-controlling interests		1.60			2.21			2.52			2.51			1.30			1.79
Net income/(loss)		(2.43	)		(1.14	)		(0.32	)		(0.32	)		(1.63	)		(0.58	)
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-6.41	%		-3.41	%		-3.41	%		-3.41	%		-7.62	%		-4.62	%
Expenses before incentive fees (4)		4.92	%		1.92	%		1.92	%		1.92	%		7.45	%		4.45	%
Expenses after incentive fees (4)		6.45	%		3.44	%		3.44	%		3.44	%		7.62	%		4.62	%
Total return before incentive fees (2)		-0.76	%		0.71	%		1.25	%		1.25	%		-1.87	%		-0.38	%
Total return after incentive fees (2)		-2.29	%		-0.81	%		-0.27	%		-0.27	%		-2.04	%		-0.56	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	139.59		$	174.17		$	102.05		$	134.21
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(6.51	)		(5.60	)		(3.85	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		11.99			15.15			4.38			5.90
Net income/(loss)		5.48			9.55			0.53			2.72
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.27	%		-5.27	%		-7.22	%		-4.22	%
Expenses before incentive fees (4)		7.06	%		4.06	%		6.49	%		3.49	%
Expenses after incentive fees (4)		8.27	%		5.27	%		7.22	%		4.22	%
Total return before incentive fees (2)		5.13	%		6.69	%		1.25	%		2.76	%
Total return after incentive fees (2)		3.93	%		5.48	%		0.52	%		2.03	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

Equinox Frontier Funds [Member]

Financial Highlights of Trust

The following information presents the financial highlights of the Trust for the three and six months ended June 30, 2015 and 2014. This data has been derived from the information presented in the consolidated financial statements.

Three months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-4.48	%		-6.06	%
Expenses before incentive fees (3)		4.85	%		5.45	%
Expenses after incentive fees (3)		4.89	%		6.49	%
Total return before incentive fees (2)		-13.25	%		4.84	%
Total return after incentive fees (2)		-13.28	%		3.81	%
Six months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-6.37	%		-6.28	%
Expenses before incentive fees (3)		4.95	%		5.40	%
Expenses after incentive fees (3)		6.79	%		6.74	%
Total return before incentive fees (2)		1.27	%		-0.31	%
Total return after incentive fees (2)		-0.57	%		-1.65	%

(1) Annualized with the exception of incentive fees.

(2) Total returns are not annualized.

(3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5.

XML

Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	$ (1,541,747)	$ (4,365,626)
Net change in open trade equity	14,841,703	4,160,411
Net change in options purchased	5,256,454	(2,086,567)
Sales of swap contracts	0	0
Net change in options written	(6,381,968)	537,577
Net change in allocation of total return swaps	0	0
(Purchases) of swap contracts	(1,000,000)
Receivable from futures commission merchants	4,228,484	(272,327)
Distributions from trading companies	0	0
Prepaid service fees	(13,875)	10,115
Interest receivable	(56,879)	444,476
Receivable from related parties	603	1,495
Other assets	500,000	48
Incentive fees payable to Managing Owner	(6,570,591)	1,143,462
Management fees payable to Managing Owner	(34,993)	(116,199)
Interest payable to Managing Owner	4,855	(88,384)
Trading fees payable to Managing Owner	(20,342)	(84,734)
Service fees payable to Managing Owner	(23,014)	(95,091)
Payables to related parties	14,464	11,796
Other liabilities		3,500
Net cash provided by (used in) operating activities	19,109,326	66,206,058
Cash Flows from Financing Activities:
Proceeds from sale of capital	9,776,731	6,227,081
Payment for redemption of capital	(27,531,104)	(63,229,628)
Payment made by the Managing Owner	1,211,610
Pending owner additions	(2,786)	(6,430)
Owner redemptions payable	(149,183)	(640,243)
Net cash provided by (used in) financing activities	(16,694,732)	(57,649,220)
Net increase (decrease) in cash and cash equivalents	2,414,594	8,556,838
Cash and cash equivalents, beginning of period	18,977,844	9,302,857
Cash and cash equivalents, end of period	21,392,438	17,859,695
U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	3,141,062	(9,484,294)
Net realized gain/(loss) on investments	(588,474)	641,266
Sales of U.S. Treasury securities	28,542,000	74,122,949
(Purchases) of U.S. Treasury securities	(21,196,875)
U.S. Treasury interest and premium paid/amortized	1,237,835
Swap [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	(1,229,375)	1,722,185
Equinox Frontier Diversified Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	2,211,703	(71,992)
Net change in open trade equity	3,786,757
Net change in options purchased	(86,056)
Net change in options written	(33,358)
Net change in ownership allocation of U.S. Treasury securities	102,792	(3,148,617)
Receivable from futures commission merchants	8,060,422
Change in control of ownership - trading companies	(5,325,430)	(325,371)
Investments in unconsolidated trading companies, at fair value	395,915	3,087,509
Prepaid service fees	(14,084)	(1,665)
Interest receivable	(21,022)	32,060
Receivable from related parties		1,035
Other assets	249,997
Incentive fees payable to Managing Owner	(2,383,825)	379,279
Management fees payable to Managing Owner	(3,010)	(15,618)
Interest payable to Managing Owner	(370)	(4,543)
Trading fees payable to Managing Owner	(8,657)	(25,282)
Service fees payable to Managing Owner	1,745	(11,281)
Payables to related parties	1,172
Other liabilities		1,813
Net cash provided by (used in) operating activities	7,767,557	13,050,287
Cash Flows from Financing Activities:
Proceeds from sale of capital	5,874,232	2,717,767
Payment for redemption of capital	(13,110,837)	(13,973,647)
Payment made by the Managing Owner	144,349
Pending owner additions	(207)	(1,463)
Owner redemptions payable	(57,953)	335,367
Net cash provided by (used in) financing activities	(7,150,416)	(10,921,976)
Net increase (decrease) in cash and cash equivalents	617,141	2,128,311
Cash and cash equivalents, beginning of period	4,210,638	1,827,897
Cash and cash equivalents, end of period	4,827,779	3,956,208
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	583,896	(1,883,962)
Net realized gain/(loss) on investments	(133,349)	127,713
Sales of U.S. Treasury securities	6,214,322	14,517,974
(Purchases) of U.S. Treasury securities	(4,787,243)
Equinox Frontier Diversified Fund [Member] | Swap [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	(1,044,760)	391,235
Equinox Frontier Masters Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	(1,215,480)	(45,939)
Net change in ownership allocation of U.S. Treasury securities	3,692,889	3,061,783
Investments in unconsolidated trading companies, at fair value	(865,542)	(172,000)
Prepaid service fees	114	9,544
Interest receivable	45,052	91,642
Receivable from related parties	74	(1,206)
Incentive fees payable to Managing Owner	(680,972)	168,094
Management fees payable to Managing Owner	(4,185)	(28,933)
Interest payable to Managing Owner	(1,160)	(3,798)
Trading fees payable to Managing Owner	(5,099)	(21,589)
Service fees payable to Managing Owner	(1,808)	(16,297)
Net cash provided by (used in) operating activities	1,574,413	10,080,825
Cash Flows from Financing Activities:
Proceeds from sale of capital	3,497,943	2,939,625
Payment for redemption of capital	(5,292,448)	(12,287,701)
Pending owner additions	(490)	(18)
Owner redemptions payable		(3,102)
Net cash provided by (used in) financing activities	(1,794,995)	(9,351,196)
Net increase (decrease) in cash and cash equivalents	(220,582)	729,629
Cash and cash equivalents, beginning of period	2,199,066	1,125,954
Cash and cash equivalents, end of period	1,978,484	1,855,563
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	228,422	(1,060,897)
Net realized gain/(loss) on investments	(56,105)	71,630
Sales of U.S. Treasury securities	2,729,817	8,028,811
(Purchases) of U.S. Treasury securities	(2,291,604)
Equinox Frontier Long/Short Commodity Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	271,083	(3,173,497)
Net change in open trade equity		(191,069)
Net change in options purchased		98,740
Net change in options written		(172,650)
Net change in ownership allocation of U.S. Treasury securities	947,060	2,706,178
(Purchases) of swap contracts	(1,000,000)
Receivable from futures commission merchants		7,836,808
Change in control of ownership - trading companies		(2,462,220)
Investments in unconsolidated trading companies, at fair value	(82,140)	(2,457,886)
Prepaid service fees	95	2,002
Interest receivable	10,323	77,778
Receivable from related parties	530	(128)
Incentive fees payable to Managing Owner	(118,511)
Management fees payable to Managing Owner	349	(44,175)
Interest payable to Managing Owner	(97)	(3,948)
Trading fees payable to Managing Owner	(2,810)	(14,458)
Service fees payable to Managing Owner	(1,413)	(5,090)
Net cash provided by (used in) operating activities	854,449	7,686,216
Cash Flows from Financing Activities:
Proceeds from sale of capital	148,785	401,977
Payment for redemption of capital	(1,882,547)	(7,567,551)
Payment made by the Managing Owner	907,162
Owner redemptions payable	(18,782)	(91,056)
Net cash provided by (used in) financing activities	(845,382)	(7,256,630)
Net increase (decrease) in cash and cash equivalents	9,067	429,586
Cash and cash equivalents, beginning of period	1,110,779	810,418
Cash and cash equivalents, end of period	1,119,846	1,240,004
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	217,116	(774,729)
Net realized gain/(loss) on investments	(33,884)	54,879
Sales of U.S. Treasury securities	1,713,661	5,971,219
(Purchases) of U.S. Treasury securities	(1,395,765)
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	328,851	238,462
Equinox Frontier Balanced Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	779,026	848,007
Net change in open trade equity	4,076,512	1,631,455
Net change in options purchased		165,915
Net change in options written		(183,856)
Net change in ownership allocation of U.S. Treasury securities	(10,786,387)	1,384,849
Receivable from futures commission merchants	13,267,929	10,787,977
Change in control of ownership - trading companies	(7,769,999)	(8,927,933)
Investments in unconsolidated trading companies, at fair value	4,010,131	(5,848,870)
Prepaid service fees		234
Interest receivable	(171,799)	178,389
Receivable from other series	0	0
Other assets	250,003	45
Incentive fees payable to Managing Owner	(1,783,801)	210,121
Management fees payable to Managing Owner	(9,562)	(24,391)
Interest payable to Managing Owner	16,064	(51,818)
Trading fees payable to Managing Owner	(844)	(17,116)
Service fees payable to Managing Owner	(10,950)	(43,842)
Payables to related parties	4,500	5,004
Net cash provided by (used in) operating activities	6,688,158	23,666,828
Cash Flows from Financing Activities:
Proceeds from sale of capital	128,231	83,053
Payment for redemption of capital	(4,743,413)	(20,064,605)
Payment made by the Managing Owner	160,099
Pending owner additions	(560)	(2,731)
Owner redemptions payable	(13,705)	(821,324)
Net cash provided by (used in) financing activities	(4,469,348)	(20,805,607)
Net increase (decrease) in cash and cash equivalents	2,218,810	2,861,221
Cash and cash equivalents, beginning of period	5,644,510	3,292,570
Cash and cash equivalents, end of period	7,863,320	6,153,791
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	1,389,049	(3,414,775)
Net realized gain/(loss) on investments	(215,325)	225,870
Sales of U.S. Treasury securities	10,249,014	26,111,089
(Purchases) of U.S. Treasury securities	(6,360,723)
Equinox Frontier Balanced Fund [Member] | Swap [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	(244,680)	630,474
Net realized gain/(loss) on investments		630,474
Equinox Frontier Select Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	(1,230,116)	(432,776)
Net change in open trade equity	(55,956)
Net change in ownership allocation of U.S. Treasury securities	4,418,169	551,952
Receivable from futures commission merchants	(12,410,448)
Change in control of ownership - trading companies	5,911,386
Investments in unconsolidated trading companies, at fair value	4,088,872	(455,524)
Interest receivable	58,145	33,530
Receivable from other series	0	0
Incentive fees payable to Managing Owner	(185,791)	26,677
Management fees payable to Managing Owner	(1,770)	(1,557)
Interest payable to Managing Owner	(6,812)	(8,194)
Trading fees payable to Managing Owner	(834)	(2,307)
Service fees payable to Managing Owner	(2,903)	(7,625)
Payables to related parties	211	269
Net cash provided by (used in) operating activities	225,374	3,200,070
Cash Flows from Financing Activities:
Proceeds from sale of capital	10,998	4,943
Payment for redemption of capital	(698,003)	(2,846,634)
Pending owner additions	(74)	(153)
Owner redemptions payable	(15,432)	17,098
Net cash provided by (used in) financing activities	(702,511)	(2,824,746)
Net increase (decrease) in cash and cash equivalents	(477,137)	375,324
Cash and cash equivalents, beginning of period	878,280	494,931
Cash and cash equivalents, end of period	401,143	870,255
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	(32,740)	(496,053)
Net realized gain/(loss) on investments	(12,618)	34,988
Sales of U.S. Treasury securities	600,508	3,956,690
(Purchases) of U.S. Treasury securities	(911,929)
Equinox Frontier Winton Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	(2,023,778)	1,420,061
Net change in ownership allocation of U.S. Treasury securities	2,175,647	(3,994,960)
Investments in unconsolidated trading companies, at fair value	730,619	(2,247,207)
Interest receivable	15,769	6,900
Incentive fees payable to Managing Owner	(1,178,364)	315,369
Management fees payable to Managing Owner	(12,571)	(28,976)
Interest payable to Managing Owner	(2,403)	(10,769)
Trading fees payable to Managing Owner	(1,727)	(2,019)
Service fees payable to Managing Owner	(6,465)	(4,913)
Payables to related parties	7,984	5,133
Net cash provided by (used in) operating activities	1,505,560	5,475,048
Cash Flows from Financing Activities:
Proceeds from sale of capital	93,346	67,734
Payment for redemption of capital	(1,334,347)	(3,788,762)
Pending owner additions	(1,408)	(1,268)
Owner redemptions payable	(21,902)	(76,900)
Net cash provided by (used in) financing activities	(1,264,311)	(3,799,196)
Net increase (decrease) in cash and cash equivalents	241,249	1,675,852
Cash and cash equivalents, beginning of period	4,012,974	1,325,731
Cash and cash equivalents, end of period	4,254,223	3,001,583
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	616,192	(1,429,792)
Net realized gain/(loss) on investments	(111,546)	97,349
Sales of U.S. Treasury securities	5,740,839	11,348,872
(Purchases) of U.S. Treasury securities	(4,444,636)
Equinox Frontier Heritage Fund [Member]
Cash Flows from Operating Activities:
Net increase/(decrease) in capital resulting from operations	(334,181)	(250,188)
Net change in ownership allocation of U.S. Treasury securities	687,650	302,509
Change in control of ownership - trading companies	100,153	855
Investments in unconsolidated trading companies, at fair value	145,343	(480,022)
Interest receivable	6,653	24,563
Incentive fees payable to Managing Owner	(239,327)	71,588
Management fees payable to Managing Owner	(4,245)	(384)
Interest payable to Managing Owner	(805)	(6,906)
Trading fees payable to Managing Owner	(371)	(1,961)
Service fees payable to Managing Owner	(1,220)	(6,039)
Payables to related parties	595	1,386
Other liabilities		3,500
Net cash provided by (used in) operating activities	493,817	3,044,700
Cash Flows from Financing Activities:
Proceeds from sale of capital	23,193	11,982
Payment for redemption of capital	(469,510)	(2,700,710)
Pending owner additions	(47)	(796)
Owner redemptions payable	(21,408)
Net cash provided by (used in) financing activities	(467,772)	(2,689,524)
Net increase (decrease) in cash and cash equivalents	26,045	355,176
Cash and cash equivalents, beginning of period	921,598	424,001
Cash and cash equivalents, end of period	947,643	779,177
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	139,125	(422,594)
Net realized gain/(loss) on investments	(25,632)	28,835
Sales of U.S. Treasury securities	1,293,839	3,316,905
(Purchases) of U.S. Treasury securities	(1,004,975)
Equinox Frontier Heritage Fund [Member] | Swap [Member]
Cash Flows from Operating Activities:
Net unrealized gain/(loss) on investments	$ (268,786)	$ 462,653

XML

Consolidated Schedules of Investments - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (17,281)	$ 14,824,422
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	5.49%	[1]
U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 128,817,968	$ 139,953,516
Investment Owned, % of Total Capital (Net Asset Value)		51.09%	51.79%
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value			$ 15,101,953
Investment Owned, % of Total Capital (Net Asset Value)			5.59%
Investment Owned, Underlying Face Amount, at Market Value			$ 15,000,000
Investment Owned, at Cost			14,966,695
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 100,558,593	$ 95,954,688
Investment Owned, % of Total Capital (Net Asset Value)		39.88%	35.51%
Investment Owned, Underlying Face Amount, at Market Value		$ 75,000,000	$ 75,000,000
Investment Owned, at Cost		99,934,764	99,579,227
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 28,259,375	$ 28,896,875
Investment Owned, % of Total Capital (Net Asset Value)		11.21%	10.69%
Investment Owned, Underlying Face Amount, at Market Value		$ 20,000,000	$ 20,000,000
Investment Owned, at Cost		28,012,500	28,322,622
LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (687,214)	$ (23,469,714)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.27%)	(8.68%)
LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (2,164,139)	$ (4,211,885)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.86%)	(1.56%)
LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 84,814	$ (61,850)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.03%	(0.02%)
LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (106,166)	$ 300,870
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.04%)	0.11%
LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 7,576	$ (12,920)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (2,367)	$ (2,738)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 2,559,970	$ (24,310,145)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	1.02%	(9.00%)
LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 114,607	$ 184,352
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.05%	0.07%
LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (74,443)	$ 3,676,039
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.03%)	1.36%
LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 42,359	$ 585,956
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.02%	0.22%
LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 10,587	$ 558,353
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.21%
LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 437,966	$ 278,768
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.17%	0.10%
LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 22,981	$ (1,360)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.01%	0.00%
LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 168,826	$ 33,841
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.07%	0.01%
LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (37,878)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.02%)
LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 2,046,472	$ (2,494,615)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.81%)	(0.92%)
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (1,893)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (9,345)	$ 44,530
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.02%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (20,034)	$ 63,167
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.01%)	0.02%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (583,815)	$ 569,188
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.23%)	0.21%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (707,053)	$ 26,010
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.28%)	0.01%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 302
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (1,400,916)	$ 1,412,847
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.56%)	0.52%
LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (1,069,275)	$ (113,453)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.42%)	(0.04%)
LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (4,131)	$ 6,195
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Africa [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (454)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (431)	$ (864)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts Singapore [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (364)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (970)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 757,698	$ 39,226,510
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.31%	14.52%
SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 2,047,404	$ 3,745,111
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.81%	1.39%
SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (55,018)	$ 101,600
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.02%)	0.04%
SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 291,247	$ 2,737,797
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.12%	1.01%
SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (149)	$ 49,517
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.02%
SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 2,424	$ 5,389
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (1,618,118)	$ 12,381,217
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.64%)	4.58%
SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (28,296)	$ 6,583
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.01%)	0.00%
SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (462,927)	$ (351,916)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.18%)	(0.13%)
SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (67,118)	$ (28,461)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.03%)	(0.01%)
SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (33,365)	$ (6,445)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.01%)	0.00%
SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (34,253)	$ (602,696)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.01%)	(0.22%)
SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (194)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (78,844)	$ 117,563
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.03%)	0.04%
SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 2,939	$ (4,709)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (1,332,886)	$ 2,823,283
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.53%)	1.04%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 294	$ (8,891)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 42,871	$ (9,866)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.02%	0.00%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 5,287
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 39,728	$ (37,839)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.02%	(0.01%)
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (66,787)	$ 6,134
Investment Owned, % of Total Capital (Net Asset Value)	[1]	(0.03%)	0.00%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (4,380)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 312,496	$ (138,941)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.12%	(0.05%)
SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 1,786,770	$ 275,350
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.71%	0.10%
SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 4,829	$ (1,052)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%	0.00%
SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (3,383)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
SHORT FUTURES CONTRACTS [Member] | Brent Crude Oil Last Day Settling 2/12/2015 (Number of Contracts: 229) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 2,871,660
Investment Owned, % of Total Capital (Net Asset Value)	[1]		1.06%
SHORT FUTURES CONTRACTS [Member] | Crude Oil Settling 12/1/2015 (Number of Contracts: 718) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 11,036,122
Investment Owned, % of Total Capital (Net Asset Value)	[1]		4.08%
SHORT FUTURES CONTRACTS [Member] | NYH RBOB Unleaded Gas Settling 12/30/2015 (Number of Contracts: 388) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 4,267,957
Investment Owned, % of Total Capital (Net Asset Value)	[1]		1.58%
SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (830)
Investment Owned, % of Total Capital (Net Asset Value)	[1]	0.00%
CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (87,765)	$ (932,374)
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	(0.35%)	[1]
CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (87,765)	$ (932,374)
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	(0.35%)	[1]
Options Purchased [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 3,819,429	$ 9,075,883
Investment Owned, % of Total Capital (Net Asset Value)		1.51%	3.36%	[1]
Options Purchased [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 3,436,940	$ 8,407,670
Investment Owned, % of Total Capital (Net Asset Value)		1.36%	3.11%	[1]
Options Purchased [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 8,020	$ 379,800
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.14%	[1]
Options Purchased [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ 374,469	$ 288,413
Investment Owned, % of Total Capital (Net Asset Value)		0.15%	0.11%	[1]
Options Written [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (2,581,870)	$ (8,963,838)
Investment Owned, % of Total Capital (Net Asset Value)		(1.02%)	(3.32%)	[1]
Options Written [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (2,300,699)	$ (8,234,010)
Investment Owned, % of Total Capital (Net Asset Value)		(0.91%)	(3.05%)	[1]
Options Written [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (61,510)	$ (476,810)
Investment Owned, % of Total Capital (Net Asset Value)		(0.02%)	(0.18%)	[1]
Options Written [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]	$ (219,661)	$ (253,018)
Investment Owned, % of Total Capital (Net Asset Value)		(0.09%)	(0.09%)	[1]
Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[2]	$ 38,220,263	$ 35,990,887
Investment Owned, % of Total Capital (Net Asset Value)		15.16%	13.31%	[2]
Swap [Member] | Frontier XXXV Diversified select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[2]	$ 7,615,169	$ 6,570,409
Investment Owned, % of Total Capital (Net Asset Value)		(3.02%)	2.43%	[2]
Swap [Member] | Frontier XXXVII L/S select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[2]	$ 4,304,209	$ 3,633,060
Investment Owned, % of Total Capital (Net Asset Value)		1.71%	1.34%	[2]
Swap [Member] | Frontier Brevan Howard swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[2]	$ 7,809,251	$ 18,246,952
Investment Owned, % of Total Capital (Net Asset Value)		(3.10%)	6.75%	[2]
Swap [Member] | Frontier XXXIV Balanced select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[2]	$ 18,491,634	$ 7,540,466
Investment Owned, % of Total Capital (Net Asset Value)		7.33%	2.79%	[2]
Equinox Frontier Diversified Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (571,551)	$ 3,215,206	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.90%)	4.50%	[1]
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 29,071,240	$ 31,051,659
Investment Owned, % of Total Capital (Net Asset Value)	[3]	46.72%	42.88%
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 21,289,585
Investment Owned, % of Total Capital (Net Asset Value)	[3]		29.40%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 22,693,752	$ 6,411,385
Investment Owned, % of Total Capital (Net Asset Value)	[3]	36.47%	8.85%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 6,377,488	$ 3,350,689
Investment Owned, % of Total Capital (Net Asset Value)	[3]	10.25%	4.63%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Equinox Frontier Diversified Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	21,439,307	24,405,836
Investment Owned, at Cost	[3]	31,855,441	31,698,420
Equinox Frontier Diversified Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		16,640,343
Investment Owned, at Cost	[3]		22,093,766
Equinox Frontier Diversified Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	16,925,769	4,437,425
Investment Owned, at Cost	[3]	25,533,667	6,283,975
Equinox Frontier Diversified Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	4,513,538	3,328,068
Investment Owned, at Cost	[3]	6,321,774	3,320,679
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (593,238)	$ 2,026,528	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.95%)	2.85%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (291,308)	$ (312,320)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.47%)	(0.43%)	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (48,075)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		(0.07%)
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (50,148)	$ 560,666	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.08%)	0.77%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 15,485	$ 10,206	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.02%	0.01%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 64,131	$ 79,701	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.10%	0.11%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 4,429	$ 676,493	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.93%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 2,824	$ 208,691	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.29%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 4,440	$ 299,804	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.41%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (37,598)	$ 289,361	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.06%)	0.40%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 69,416	$ 2,809	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.11%	0.00%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (37,878)
Investment Owned, % of Total Capital (Net Asset Value)		(0.06%)
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 171,928	$ (89,038)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.28%	(0.12%)	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 35,072
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.08%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 33,439
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.08%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (96,010)	$ (44,720)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.15%)	(0.06%)	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (43,706)	$ 14,786	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.07%)	0.02%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (369,243)	$ 370,308	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.59%)	0.51%	[1]
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (60,655)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		(0.08%)
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 124,509	$ 1,145,440	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.22%	1.59%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 210,919	$ 251,789	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.34%	0.35%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (1,607)	$ 50,963	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.07%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 49,895	$ 360,124	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.08%	0.50%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (52,105)	$ 356,351	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.08%)	0.49%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (440)	$ 12,112	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.02%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (72,587)	$ (14,958)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.12%)	(0.02%)	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 38
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (19,502)	$ (128)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	0.00%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (37,500)	$ 92,535	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.06%)	0.13%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (307,586)	$ 78,930	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.49%)	0.11%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 38,769	$ (24,501)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.06%	(0.03%)	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (64,926)	$ (28,299)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.10%)	(0.04%)	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 233,381	$ 2,837	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.38%	0.00%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 147,760	$ 7,685	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.24%	0.01%	[1]
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (102,822)	$ 43,238	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.17%)	0.06%	[1]
Equinox Frontier Diversified Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (102,822)	$ 43,238	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.17%)	0.06%	[1]
Equinox Frontier Diversified Fund [Member] | Options Purchased [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 374,470	$ 288,413	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.60%	0.40%	[1]
Equinox Frontier Diversified Fund [Member] | Options Purchased [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | Options Purchased [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | Options Purchased [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 374,470	$ 288,413	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.60%	0.40%	[1]
Equinox Frontier Diversified Fund [Member] | Options Written [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (219,660)	$ (253,018)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.35%)	(0.35%)	[1]
Equinox Frontier Diversified Fund [Member] | Options Written [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | Options Written [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Diversified Fund [Member] | Options Written [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (219,660)	$ (253,018)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.35%)	(0.35%)	[1]
Equinox Frontier Diversified Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 7,615,169	$ 6,570,408
Investment Owned, % of Total Capital (Net Asset Value)	[4]	12.24%	9.07%
Equinox Frontier Diversified Fund [Member] | Swap [Member] | Frontier XXXV Diversified select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 7,615,169	$ 6,570,408
Investment Owned, % of Total Capital (Net Asset Value)	[4]	12.24%	9.07%
Equinox Frontier Diversified Fund [Member] | Swap [Member] | Frontier XXXVII L/S select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Masters Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 11,913,754	$ 16,217,173
Investment Owned, % of Total Capital (Net Asset Value)	[3]	52.48%	63.08%
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 11,118,790
Investment Owned, % of Total Capital (Net Asset Value)	[3]		43.25%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 9,300,180	$ 3,348,438
Investment Owned, % of Total Capital (Net Asset Value)	[3]	40.97%	13.02%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 2,613,574	$ 1,749,945
Investment Owned, % of Total Capital (Net Asset Value)	[3]	11.51%	6.81%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Equinox Frontier Masters Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	8,786,093	12,746,296
Investment Owned, at Cost	[3]	13,054,753	16,554,953
Equinox Frontier Masters Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		8,690,657
Investment Owned, at Cost	[3]		11,538,785
Equinox Frontier Masters Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	6,936,389	2,317,508
Investment Owned, at Cost	[3]	10,464,012	3,281,896
Equinox Frontier Masters Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	1,849,704	1,738,131
Investment Owned, at Cost	[3]	$ 2,590,741	$ 1,734,272
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | Options Purchased [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | Options Purchased [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | Options Purchased [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | Options Purchased [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | Options Written [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | Options Written [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | Options Written [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Masters Fund [Member] | Options Written [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Masters Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Masters Fund [Member] | Swap [Member] | Frontier XXXV Diversified select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Masters Fund [Member] | Swap [Member] | Frontier XXXVII L/S select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 6,743,330	$ 8,191,519
Investment Owned, % of Total Capital (Net Asset Value)	[3]	41.98%	49.30%
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 5,616,255
Investment Owned, % of Total Capital (Net Asset Value)	[3]		33.80%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 5,264,015	$ 1,691,342
Investment Owned, % of Total Capital (Net Asset Value)	[3]	32.77%	10.18%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 1,479,315	$ 883,922
Investment Owned, % of Total Capital (Net Asset Value)	[3]	9.21%	5.32%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Equinox Frontier Long/Short Commodity Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	4,973,036	6,438,332
Investment Owned, at Cost	[3]	7,389,150	8,362,136
Equinox Frontier Long/Short Commodity Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		4,389,772
Investment Owned, at Cost	[3]		5,828,400
Equinox Frontier Long/Short Commodity Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	3,926,081	1,170,606
Investment Owned, at Cost	[3]	5,922,759	1,657,731
Equinox Frontier Long/Short Commodity Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	1,046,955	877,954
Investment Owned, at Cost	[3]	$ 1,466,391	$ 876,005
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | Options Purchased [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | Options Purchased [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Options Purchased [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Options Purchased [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | Options Written [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | Options Written [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Options Written [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Options Written [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 4,304,209	$ 3,633,060
Investment Owned, % of Total Capital (Net Asset Value)	[4]	26.80%	21.86%
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Frontier XXXV Diversified select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Frontier XXXVII L/S select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 4,304,209	$ 3,633,060
Investment Owned, % of Total Capital (Net Asset Value)	[4]	26.80%	21.86%
Equinox Frontier Balanced Fund [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 18,246,954
Investment Owned, % of Total Capital (Net Asset Value)	[1]		16.82%
Equinox Frontier Balanced Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (778,963)	$ 3,297,549	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.82%)	3.08%	[1]
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 47,350,232	$ 41,625,860
Investment Owned, % of Total Capital (Net Asset Value)	[3]	48.81%	38.37%
Investment Owned, at Cost	[3]	$ 51,885,041
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 28,539,451
Investment Owned, % of Total Capital (Net Asset Value)	[3]		26.31%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 36,962,801	$ 8,594,691
Investment Owned, % of Total Capital (Net Asset Value)	[3]	38.10%	7.92%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Investment Owned, at Cost	[3]	41,588,353
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 10,387,431	$ 4,491,718
Investment Owned, % of Total Capital (Net Asset Value)	[3]	10.71%	4.14%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Investment Owned, at Cost	[3]	10,296,688
Equinox Frontier Balanced Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	34,919,601	32,716,895
Investment Owned, at Cost	[3]		42,492,864
Equinox Frontier Balanced Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		22,306,974
Investment Owned, at Cost	[3]		29,617,482
Equinox Frontier Balanced Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	27,568,106	5,948,526
Investment Owned, at Cost	[3]		8,423,893
Equinox Frontier Balanced Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	7,351,495	4,461,395
Investment Owned, at Cost	[3]		4,451,489
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (818,617)	$ (2,781,855)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.86%)	(2.54%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (527,678)	$ (3,493,625)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.54%)	(3.22%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (13,775)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		(0.01%)
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (46,926)	$ (254,409)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.05%)	(0.23%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (12,920)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	(0.01%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (2,367)	$ (2,738)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (153,601)	$ (1,406,837)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.16%)	(1.30%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 44,461	$ 84,291	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.05%	0.08%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 12,519	$ 1,312,057	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	1.21%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 21,602	$ 217,701	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.02%	0.20%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 636	$ 164,422	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.15%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 121,458	$ 298,985	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.13%	0.28%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 12,047	$ (1,360)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 28,604	$ 8,013	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.03%	0.01%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 479,697	$ (208,634)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.49%	(0.19%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (6,474)	$ (1,389)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.01%)	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (16,733)	$ 17,918	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.02%)	0.02%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (169,832)	$ 231,293	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.18%)	0.21%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (162,496)	$ (6,494)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.17%)	(0.01%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 184
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (413,569)	$ 337,695	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.43%)	0.31%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (35,955)	$ (57,380)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.04%)	(0.05%)	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (3,224)	$ 6,195	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.01%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Africa [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (864)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts Singapore [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (970)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 267,257	$ 6,499,146	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.27%	6.01%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 472,034	$ 3,165,035	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.49%	2.92%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 7,838	$ 19,963	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.02%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 97,275	$ 462,616	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.10%	0.43%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 49,517
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.05%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 4,164	$ 5,389	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 38,884	$ 2,602,685	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.04%	2.40%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (1,393)	$ 11	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 8,798	$ (261,457)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	(0.24%)	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 214
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 13,172	$ (1,673)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (44,189)	$ (20,699)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.05%)	(0.02%)	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (33,452)	$ 19,813	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	0.02%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 2,939	$ (4,709)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (385,677)	$ 438,427	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.40%)	0.40%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 389	$ (4,181)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 26,744	$ (9,866)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.03%	(0.01%)	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 5,688
Investment Owned, % of Total Capital (Net Asset Value)		0.01%
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 871	$ (13,338)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	(0.01%)	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 3,125	$ 129	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (4,380)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 25,654	$ (51,856)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.03%	(0.05%)	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 19,350	$ 112,155	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.02%	0.10%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 4,829	$ (1,052)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ (3,383)
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Balanced Fund [Member] | CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (227,603)	$ (419,742)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.23%)	(0.39%)	[1]
Equinox Frontier Balanced Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (227,603)	$ (419,742)	[1]
Investment Owned, % of Total Capital (Net Asset Value)		(0.23%)	(0.39%)	[1]
Equinox Frontier Balanced Fund [Member] | Options Purchased [Member] | Frontier XXXIV Balanced select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[1]		$ 18,246,954
Investment Owned, % of Total Capital (Net Asset Value)	[1]		16.82%
Equinox Frontier Balanced Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 18,491,634
Investment Owned, % of Total Capital (Net Asset Value)	[4]	19.06%
Equinox Frontier Balanced Fund [Member] | Swap [Member] | Frontier XXXIV Balanced select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 18,491,634
Investment Owned, % of Total Capital (Net Asset Value)	[4]	19.06%
Equinox Frontier Select Fund [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | Total Open Trade Equity (Deficit) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 55,956
Investment Owned, % of Total Capital (Net Asset Value)		0.28%	0.00%	[1]
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 2,415,549	$ 6,476,939
Investment Owned, % of Total Capital (Net Asset Value)	[3]	12.54%	42.42%
Investment Owned, at Cost	[3]	$ 2,646,891
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 4,440,708
Investment Owned, % of Total Capital (Net Asset Value)	[3]		29.08%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 1,885,640	$ 1,337,325
Investment Owned, % of Total Capital (Net Asset Value)	[3]	9.79%	8.76%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Investment Owned, at Cost	[3]	2,121,610
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 529,909	$ 698,906
Investment Owned, % of Total Capital (Net Asset Value)	[3]	2.75%	4.58%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Investment Owned, at Cost	[3]	525,281
Equinox Frontier Select Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	1,781,407	5,090,714
Investment Owned, at Cost	[3]		6,611,844
Equinox Frontier Select Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		3,470,942
Investment Owned, at Cost	[3]		4,608,448
Equinox Frontier Select Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	1,406,374	925,584
Investment Owned, at Cost	[3]		1,310,749
Equinox Frontier Select Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	375,033	694,188
Investment Owned, at Cost	[3]		$ 692,647
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (954,881)
Investment Owned, % of Total Capital (Net Asset Value)		(4.95%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (945,175)
Investment Owned, % of Total Capital (Net Asset Value)		(4.91%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (31,965)
Investment Owned, % of Total Capital (Net Asset Value)		(0.17%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 7,576
Investment Owned, % of Total Capital (Net Asset Value)		0.04%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 10,841
Investment Owned, % of Total Capital (Net Asset Value)		0.06%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 2,616
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 4,188
Investment Owned, % of Total Capital (Net Asset Value)		0.02%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (3,153)
Investment Owned, % of Total Capital (Net Asset Value)		(0.02%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 45,209
Investment Owned, % of Total Capital (Net Asset Value)		0.23%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 1,178
Investment Owned, % of Total Capital (Net Asset Value)		0.01%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 29,280
Investment Owned, % of Total Capital (Net Asset Value)		0.15%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 76,239
Investment Owned, % of Total Capital (Net Asset Value)		0.40%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (1,893)
Investment Owned, % of Total Capital (Net Asset Value)		(0.01%)
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (8,607)
Investment Owned, % of Total Capital (Net Asset Value)		(0.04%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (25,716)
Investment Owned, % of Total Capital (Net Asset Value)		(0.13%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 118
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (113,462)
Investment Owned, % of Total Capital (Net Asset Value)		(0.59%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (906)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Africa [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (454)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts Oceanic [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (431)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts Singapore [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (364)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 985,304
Investment Owned, % of Total Capital (Net Asset Value)		5.10%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 1,098,409
Investment Owned, % of Total Capital (Net Asset Value)		5.70%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 20,730
Investment Owned, % of Total Capital (Net Asset Value)		0.11%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (92,798)
Investment Owned, % of Total Capital (Net Asset Value)		(0.48%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (149)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (1,740)
Investment Owned, % of Total Capital (Net Asset Value)		(0.01%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (43,047)
Investment Owned, % of Total Capital (Net Asset Value)		(0.22%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (5,002)
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 11,917
Investment Owned, % of Total Capital (Net Asset Value)		0.06%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (1,504)
Investment Owned, % of Total Capital (Net Asset Value)		(0.01%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 54,062
Investment Owned, % of Total Capital (Net Asset Value)		0.28%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (5,913)
Investment Owned, % of Total Capital (Net Asset Value)		(0.03%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various soft futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (275,325)
Investment Owned, % of Total Capital (Net Asset Value)		(1.43%)	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Africa) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 6,243
Investment Owned, % of Total Capital (Net Asset Value)		0.03%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Canada) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 88
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 8,561
Investment Owned, % of Total Capital (Net Asset Value)		0.04%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Mexico) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 31,562
Investment Owned, % of Total Capital (Net Asset Value)		0.16%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 180,010
Investment Owned, % of Total Capital (Net Asset Value)		0.93%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Precious Metal Futures Contracts Far East [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)		0.00%	0.00%	[1]
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (Far East) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contract (Europe) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ (800)
Investment Owned, % of Total Capital (Net Asset Value)		0.00%
Equinox Frontier Select Fund [Member] | CURRENCY FORWARDS [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 25,533
Investment Owned, % of Total Capital (Net Asset Value)		0.13%	0.00%	[1]
Equinox Frontier Select Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forward Contracts (NA) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value		$ 25,533
Investment Owned, % of Total Capital (Net Asset Value)		0.13%	0.00%	[1]
Equinox Frontier Select Fund [Member] | Options Purchased [Member] | Frontier XXXIV Balanced select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[1]		0.00%
Equinox Frontier Select Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%
Equinox Frontier Select Fund [Member] | Swap [Member] | Frontier XXXIV Balanced select swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 25,617,478	$ 29,593,974
Investment Owned, % of Total Capital (Net Asset Value)	[3]	69.64%	73.89%
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 20,290,169
Investment Owned, % of Total Capital (Net Asset Value)	[3]		50.66%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 19,997,657	$ 6,110,410
Investment Owned, % of Total Capital (Net Asset Value)	[3]	54.36%	15.26%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 5,619,821	$ 3,193,395
Investment Owned, % of Total Capital (Net Asset Value)	[3]	15.28%	7.97%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Equinox Frontier Winton Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	18,892,243	23,260,132
Investment Owned, at Cost	[3]	28,070,906	30,210,374
Equinox Frontier Winton Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		15,859,181
Investment Owned, at Cost	[3]		21,056,599
Equinox Frontier Winton Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	14,914,929	4,229,115
Investment Owned, at Cost	[3]	22,500,180	5,988,981
Equinox Frontier Winton Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	3,977,314	3,171,836
Investment Owned, at Cost	[3]	$ 5,570,726	$ 3,164,794
Equinox Frontier Winton Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Winton Fund [Member] | Swap [Member] | Frontier Brevan Howard swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, % of Total Capital (Net Asset Value)	[4]	0.00%	0.00%
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 5,706,384	$ 6,796,392
Investment Owned, % of Total Capital (Net Asset Value)	[3]	35.92%	41.03%
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]		$ 4,659,730
Investment Owned, % of Total Capital (Net Asset Value)	[3]		28.13%
Investment Owned, Underlying Face Amount, at Market Value	[3]		$ 15,000,000
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 4,454,549	$ 1,403,284
Investment Owned, % of Total Capital (Net Asset Value)	[3]	28.04%	8.47%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 75,000,000	$ 75,000,000
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[3]	$ 1,251,835	$ 733,378
Investment Owned, % of Total Capital (Net Asset Value)	[3]	7.88%	4.43%
Investment Owned, Underlying Face Amount, at Market Value	[3]	$ 20,000,000	$ 20,000,000
Equinox Frontier Heritage Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	4,208,315	5,341,797
Investment Owned, at Cost	[3]	6,252,895	6,937,952
Equinox Frontier Heritage Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]		3,642,134
Investment Owned, at Cost	[3]		4,835,746
Equinox Frontier Heritage Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	3,322,354	971,236
Investment Owned, at Cost	[3]	5,011,996	1,375,397
Equinox Frontier Heritage Fund [Member] | Assets allocated to each Series based upon ownership in the cash management pool [Member] | U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Investment Owned, Underlying Face Amount, at Market Value	[3]	885,961	728,427
Investment Owned, at Cost	[3]	1,240,899	726,809
Equinox Frontier Heritage Fund [Member] | Swap [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 7,809,251	$ 7,540,465
Investment Owned, % of Total Capital (Net Asset Value)	[4]	49.16%	45.52%
Equinox Frontier Heritage Fund [Member] | Swap [Member] | Frontier Brevan Howard swap (U.S.) [Member]
Schedule of Investments [Line Items]
Investment Owned, Fair Value	[4]	$ 7,809,251	$ 7,540,465
Investment Owned, % of Total Capital (Net Asset Value)	[4]	49.16%	45.52%

[1] Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

[2] See Notes to Financial Statements, Note 4.

[3] Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

[4] See Note 4 to the Financial Statements.

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Indemnifications and Guarantees

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Indemnifications and Guarantees

10. Indemnifications and Guarantees noted in Management Discussion and Analysis

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Series up to the amount of equity at risk with UBS of the referenced Series as allocated from the Trading Company. The Series have not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote.

The Trust has guaranteed the obligations of the Trading Companies under the customer agreements with UBS Securities LLC as Clearing Broker. In the event that one Series of the Trust is unable to meet its obligations to UBS Securities LLC, the assets of the other Series will be available to UBS Securities LLC as part of the guarantee, but only to the extent of such Series’ pro rata allocation to the Trading Company. The Series have not recorded any liability for the indemnifications in the accompanying financial statements, as it expects any possibility of losses to be remote.

Equinox Frontier Funds [Member]

Indemnifications and Guarantees

9. Indemnifications and Guarantees

The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Trust up to the amount of equity at risk with UBS. The Trust has not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote.

The Trust has guaranteed the obligations of the trading companies under the customer agreements with UBS Securities LLC as Clearing Broker. In the event that one Series of the Trust is unable to meet its obligations to UBS Securities LLC, the assets of the other Series will be available to UBS Securities LLC as part of the guarantee, but only to the extent of such Series’ pro rata allocation to the trading company. The Trust has not recorded any liability for the indemnifications in the accompanying financial statements as it expects any possibility of losses to be remote.

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Document and Entity Information - Jun. 30, 2015 - shares	Total
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	FRFD
Entity Registrant Name	Equinox Frontier Funds
Entity Central Index Key	0001261379
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0

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Subsequent Events

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Subsequent Events

11. Subsequent Events

None.

Equinox Frontier Funds [Member]

Subsequent Events

10. Subsequent Events

None.

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Consolidated Schedules of Investments (Parenthetical)		6 Months Ended	12 Months Ended
		Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($) Contract
U.S. TREASURY SECURITIES [Member] | Equinox Frontier Balanced Fund [Member]
Schedule of Investments [Line Items]
Investment Owned, at Cost	[1]	$ 51,885,041
U.S. TREASURY SECURITIES [Member] | Equinox Frontier Select Fund [Member]
Schedule of Investments [Line Items]
Investment Owned, at Cost	[1]	$ 2,646,891
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member]
Schedule of Investments [Line Items]
Rate			2.25%
Debt Instrument, Maturity Date			Nov. 15, 2024
Investment Owned, Underlying Face Amount, at Market Value			$ 15,000,000
Investment Owned, at Cost			$ 14,966,695
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Diversified Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Masters Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Balanced Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Select Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Winton Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 2.250% due 11/15/2024 [Member] | Equinox Frontier Heritage Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]		2.25%
Debt Instrument, Maturity Date	[1]		Nov. 15, 2024
Cost	[1]		$ 14,966,695
Investment Owned, Underlying Face Amount, at Market Value	[1]		$ 15,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member]
Schedule of Investments [Line Items]
Rate		6.00%	6.00%
Debt Instrument, Maturity Date		Feb. 15, 2026	Feb. 15, 2026
Investment Owned, Underlying Face Amount, at Market Value		$ 75,000,000	$ 75,000,000
Investment Owned, at Cost		$ 99,934,764	$ 99,579,227
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Diversified Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 75,000,000	$ 75,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Masters Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 75,000,000	$ 75,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 75,000,000	$ 75,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Balanced Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	75,000,000	$ 75,000,000
Investment Owned, at Cost	[1]	$ 41,588,353
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Select Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	75,000,000	$ 75,000,000
Investment Owned, at Cost	[1]	$ 2,121,610
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Winton Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 75,000,000	$ 75,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.000% due 02/15/2026 [Member] | Equinox Frontier Heritage Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.00%	6.00%
Debt Instrument, Maturity Date	[1]	Feb. 15, 2026	Feb. 15, 2026
Cost	[1]	$ 99,934,764	$ 99,579,227
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 75,000,000	$ 75,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member]
Schedule of Investments [Line Items]
Rate		6.875%	6.875%
Debt Instrument, Maturity Date		Aug. 15, 2025	Aug. 15, 2025
Investment Owned, Underlying Face Amount, at Market Value		$ 20,000,000	$ 20,000,000
Investment Owned, at Cost		$ 28,012,500	$ 28,322,622
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Diversified Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 20,000,000	$ 20,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Masters Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 20,000,000	$ 20,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Long/Short Commodity Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 20,000,000	$ 20,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Balanced Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	20,000,000	$ 20,000,000
Investment Owned, at Cost	[1]	$ 10,296,688
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Select Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	20,000,000	$ 20,000,000
Investment Owned, at Cost	[1]	$ 525,281
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Winton Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 20,000,000	$ 20,000,000
U.S. TREASURY SECURITIES [Member] | US Treasury Note 6.875% due 08/15/2025 [Member] | Equinox Frontier Heritage Fund [Member]
Schedule of Investments [Line Items]
Rate	[1]	6.875%	6.875%
Debt Instrument, Maturity Date	[1]	Aug. 15, 2025	Aug. 15, 2025
Cost	[1]	$ 28,012,500	$ 28,322,622
Investment Owned, Underlying Face Amount, at Market Value	[1]	$ 20,000,000	$ 20,000,000
SHORT FUTURES CONTRACTS [Member] | Brent Crude Oil Last Day Settling 2/12/2015 (Number of Contracts: 229) [Member]
Schedule of Investments [Line Items]
Number of contracts | Contract	[2]		229
Settling	[2]		Dec. 02, 2015
SHORT FUTURES CONTRACTS [Member] | Crude Oil Settling 12/1/2015 (Number of Contracts: 718) [Member]
Schedule of Investments [Line Items]
Number of contracts | Contract	[2]		718
Settling	[2]		Dec. 01, 2015
SHORT FUTURES CONTRACTS [Member] | NYH RBOB Unleaded Gas Settling 12/30/2015 (Number of Contracts: 388) [Member]
Schedule of Investments [Line Items]
Number of contracts | Contract	[2]		388
Settling	[2]		Dec. 30, 2015

[1] Assets have been allocated to each Series based upon ownership in the cash management pool. See Note 2.

[2] Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

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Investments in Unconsolidated Trading Companies

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Investments in Unconsolidated Trading Companies

5. Investments in Unconsolidated Trading Companies

Investments in unconsolidated trading companies represent cash and open trade equity invested in the Trading Companies by each Series and cumulative trading profits or losses allocated to each Series by the Trading Companies. Trading Companies allocate trading profits or losses on the basis of the proportion of each Series’ capital allocated for trading to each respective Trading Company, which bears no relationship to the amount of cash invested by a Series in the Trading Company. The Trading Companies are valued using the equity method of accounting, which approximates fair value.

The following table summarizes each of the Series’ investments in unconsolidated Trading Companies as of June 30, 2015 and December 31, 2014:

	As of June 30, 2015					As of December 31, 2014
	Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value		Percentage of Series Net Assets Invested in Unconsolidated Trading Companies			Fair Value
Series
Equinox Frontier Diversified Fund — Frontier Trading Companies I, II, VII, IX, XIV, XV, XXXIII and XXXVIII		9.96	%	$	6,198,464		9.11	%	$	6,594,379
Equinox Frontier Masters Fund — Frontier Trading Companies II, XIV, XV and XXXVIII		38.63	%	$	8,767,520		30.74	%	$	7,901,978
Equinox Frontier Long/Short Commodity Fund — Frontier Trading Companies I and XXXVIII		24.26	%	$	3,896,994		22.96	%	$	3,814,854
Equinox Frontier Balanced Fund — Frontier Trading Companies II, VII, XV and XXXVIII		14.77	%	$	14,333,796		16.92	%	$	18,343,927
Equinox Frontier Select Fund — Frontier Trading Companies XV, XXXVIII and XXXIX		20.83	%	$	4,013,269		53.06	%	$	8,102,141
Equinox Frontier Winton Fund — Frontier Trading Company II and XXXVIII		18.35	%	$	6,749,039		18.68	%	$	7,479,658
Equinox Frontier Heritage Fund — Frontier Trading Companies II and XXXVIII		8.80	%	$	1,398,043		9.32	%	$	1,543,386

The following tables summarize each of the Series’ equity in earnings from unconsolidated Trading Companies for the three and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30, 2015												Three Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(77,867	)	$	950,477		$	1,028,045		$	1,900,655
Frontier Trading Company II LLC		(4,246	)		(685,823	)		(420,717	)		(1,110,786	)		(4,241	)		865,388			(8,894	)		852,253
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(85,942	)		(1,382,324	)		1,810,489			342,223			(96,234	)		(663,204	)		608,781			(150,657	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(41,516	)		249,214			263,796			471,494
Frontier Trading Company XV, LLC		—			—			—			—			(12,052	)		(487,276	)		155,923			(343,405	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(17,919	)		(151,523	)		(304,555	)		(473,997	)		(11,949	)		789,665			92,152			869,868
Frontier Trading Company XXXVIII, LLC		(10,482	)		77,904			(236,705	)		(169,283	)		—			—						—
Frontier Trading Company XXXIX, LLC		—			—			—			—			(11,766	)		(127,320	)		(97,402	)		(236,488	)
Total	$	(118,589	)	$	(2,141,766	)	$	848,512		$	(1,411,843	)	$	(255,625	)	$	1,576,944		$	2,042,401		$	3,363,720
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(6,561	)	$	(78,343	)	$	(920,425	)	$	(1,005,329	)	$	(8,994	)	$	441,002		$	166,625		$	598,633
Frontier Trading Company II LLC		(2,613	)		(420,988	)		(264,127	)	$	(687,728	)		(3,095	)		627,805			(8,751	)		615,959
Frontier Trading Company XIV, LLC		—			—			—			—			(36,029	)		189,278			214,868			368,117
Frontier Trading Company XV, LLC		(14,857	)		(979,930	)		(372,004	)		(1,366,791	)		(24,092	)		125,464			287,803			389,175
Frontier Trading Company VII, LLC		(50,573	)		(775,283	)		1,063,371			237,515
Frontier Trading Company XXXVIII, LLC		(4,586	)		35,342			(122,309	)		(91,553	)		(6,083	)		(78,704	)		(42,756	)		(127,533	)
Total	$	(79,190	)	$	(2,219,202	)	$	(615,494	)	$	(2,913,886	)	$	(78,293	)	$	1,304,845		$	617,789		$	1,844,351
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(63,635	)		(1,450,691	)		1,054,760			(459,566	)		(79,249	)		(199,250	)		450,592			172,093
Frontier Trading Companies XVIII, LLC		—			—			—			—			(9,017	)		(338,735	)		(291,055	)		(638,807	)
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,865	)		19,681			(69,554	)		(52,738	)		—			—			—			—
Total	$	(66,500	)	$	(1,431,010	)	$	985,206		$	(512,304	)	$	(88,266	)	$	(537,985	)	$	159,537		$	(466,714	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(83,797	)	$	975,639		$	(208,851	)		682,991		$	(263,573	)	$	1,115,464		$	(362,505	)		489,386
Frontier Trading Company II LLC		(5,791	)		(937,794	)		(560,595	)		(1,504,180	)		(12,088	)		(686,492	)		1,317,845			619,265
Frontier Trading Company V LLC		—			—			—			—												—
Frontier Trading Company VII, LLC		(97,027	)		(1,669,662	)		2,061,923			295,234			36,410			685,775			(1,108,643	)		(386,458	)
Frontier Trading Company XIV, LLC		—			—			—			—			(23,141	)		99,184			(416,179	)		(340,136	)
Frontier Trading Company XV, LLC		(231	)		(492,925	)		493,274			118			22,806			(867,989	)		1,231,415			386,232
Frontier Trading Company XVI, LLC		—			—			—			—												—
Frontier Trading Company XVIII, LLC		—			—			—			—												—
Frontier Trading Company XXIII, LLC		—			—			—			—												—
Frontier Trading Company XXXVIII, LLC		(17,308	)		134,812			(445,903	)		(328,399	)		(768,673	)		1,833,086			(991,089	)		73,324
Frontier Trading Company XXXIX, LLC		—			—			—			—			(75,543	)		(1,180,680	)		612,399			(643,824	)
Total	$	(204,154	)	$	(1,989,930	)	$	1,339,848		$	(854,236	)	$	(1,083,802	)	$	998,348		$	283,243		$	197,789
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC					—			(2	)		(2	)		(31,676	)		106,074			415,981			490,379
Frontier Trading Company XXI, LLC								(967,125	)		(967,125	)					—			—			—
Frontier Trading Company XXXVIII, LLC		(2,577	)		7,618			(23,723	)		(17,104	)		(2,970	)		(33,431	)		(15,011	)		(51,412	)
Frontier Trading Company XXXIX, LLC								127,518			127,518			(1,556	)		—			331,515			329,959
Total	$	(2,577	)	$	7,618		$	(863,332	)	$	(856,713	)	$	(36,202	)	$	72,643		$	732,485		$	768,926
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(14,911	)	$	(2,419,574	)	$	(1,407,788	)	$	(3,842,273	)	$	(13,657	)	$	2,787,074		$	(31,073	)	$	2,742,344
Frontier Trading Company XXXVIII ,LLC		(9,599	)		73,551			(282,923	)	$	(218,971	)		(9,787	)		(105,773	)		(73,711	)		(189,271	)
Total	$	(24,510	)	$	(2,346,023	)	$	(1,690,711	)	$	(4,061,244	)	$	(23,444	)	$	2,681,301		$	(104,784	)	$	2,553,073
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(2,685	)	$	(435,646	)	$	(252,853	)	$	(691,184	)	$	(3,057	)	$	623,800		$	(6,880	)	$	613,593
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(2,163	)		16,512			(62,218	)		(47,870	)		(2,639	)		(32,058	)		(21,536	)		(56,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(4,848	)	$	(419,134	)	$	(315,071	)	$	(739,054	)	$	(5,696	)	$	591,742		$	(28,416	)	$	557,360

	Six Months Ended June 30, 2015												Six Months Ended June 30, 2014
	Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)			Trading Commissions			Realized Gain/(Loss)			Change in Unrealized Gain/(Loss)			Net Income (Loss)
Equinox Frontier Diversified Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	(148,260	)	$	2,095,105		$	421,786		$	2,368,631
Frontier Trading Company II LLC		(8,329	)		647,469			(548,028	)		91,112			(8,992	)		1,132,028			(293,721	)		829,315
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(168,323	)		726,185			587,363			1,145,225			(248,337	)		(1,280,664	)		370,672			(1,158,329	)
Frontier Trading Company IX, LLC		—			—			—			—			—			—			—
Frontier Trading Company XIV, LLC		—			—			—			—			(101,125	)		(378,786	)		323,498			(156,413	)
Frontier Trading Company XV, LLC		—			—			—			—			(27,763	)		172,591			(786,997	)		(642,169	)
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		(37,701	)		721,086			(330,774	)		352,611			(24,150	)		1,073,089			187,658			1,236,597
Frontier Trading Company XXXVIII, LLC		(17,490	)		952,971			(463,563	)		471,918			(24,173	)		(894,004	)		(675,056	)		(1,593,233	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(231,843	)	$	3,047,711		$	(755,002	)	$	2,060,866		$	(582,800	)	$	1,919,359		$	(452,160	)	$	884,399
Equinox Frontier Masters Fund
Frontier Trading Company I LLC	$	(10,535	)	$	1,180,694		$	(1,058,847	)	$	111,312		$	(14,650	)	$	84,485		$	656,689		$	726,524
Frontier Trading Company II LLC		(4,942	)		331,851			(335,234	)	$	(8,325	)		(6,805	)		841,881			(248,924	)		586,152
Frontier Trading Company XIV, LLC		(28,979	)		148,053			(801,924	)		(682,850	)		(95,138	)		(433,918	)		213,162			(315,894	)
Frontier Trading Company XV, LLC		(86,516	)		2,635,986			(1,948,507	)		600,963			(53,547	)		805,913			(875,590	)		(123,224	)
Frontier Trading Company XXXVIII, LLC		(7,391	)		333,664			(165,500	)		160,773			(13,153	)		(497,344	)		(372,146	)		(882,643	)
Total	$	(138,363	)	$	4,630,248		$	(4,310,012	)	$	181,873		$	(183,293	)	$	801,017		$	(626,809	)	$	(9,085	)
Equinox Frontier Long/Short Commodity Fund
Frontier Trading Company I LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Companies VII, LLC		(148,403	)		1,306,637			125,916			1,284,150			(84,192	)		(492,410	)		202,711			(373,891	)
Frontier Trading Companies XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Companies XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(4,833	)		276,057			(133,153	)		138,071			(9,017	)		(338,735	)		(290,717	)		(638,469	)
Total	$	(153,236	)	$	1,582,694		$	(7,237	)	$	1,422,221		$	(93,209	)	$	(831,145	)	$	(88,006	)	$	(1,012,360	)
Equinox Frontier Balanced Fund
Frontier Trading Company I LLC	$	(173,656	)	$	3,024,584		$	28,819			2,879,747		$	(21,190	)	$	(40,139	)	$	887,729			826,400
Frontier Trading Company II LLC		(10,988	)		749,066			(720,413	)		17,665			(12,125	)		1,514,527			(547,779	)		954,623
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company VII, LLC		(189,079	)		646,642			714,340			1,171,903			(237,492	)		(1,772,506	)		684,757			(1,325,241	)
Frontier Trading Company XIV, LLC		—			—			—			—			(75,543	)		(1,180,680	)		610,861			(645,362	)
Frontier Trading Company XV, LLC		(124	)		(217,025	)		217,318			169			(44,315	)		(299,183	)		(581,076	)		(924,574	)
Frontier Trading Company XVI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XVIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXIII, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(27,010	)		1,355,729			(729,990	)		598,729			(42,486	)		(1,584,456	)		(1,141,801	)		(2,768,743	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			(1,538	)		(1,538	)
Total	$	(400,857	)	$	5,558,996		$	(489,926	)	$	4,668,213		$	(433,151	)	$	(3,362,437	)	$	(88,847	)	$	(3,884,435	)
Equinox Frontier Select Fund
Frontier Trading Company V LLC	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Frontier Trading Company VI LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XV, LLC		—			(195	)		2,173			1,978			(60,926	)		819,051			(483,409	)		274,716
Frontier Trading Company XXI, LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(1,797	)		64,307			(16,288	)		46,222			(6,234	)		(227,323	)		(163,164	)		(396,721	)
Frontier Trading Company XXXIX, LLC								127,536			127,536			(1,556	)		—			(204,940	)		(206,496	)
Total	$	(1,797	)	$	64,112		$	113,421		$	175,736		$	(68,716	)	$	591,728		$	(851,513	)	$	(328,501	)
Equinox Frontier Winton Fund
Frontier Trading Company II LLC	$	(28,184	)	$	1,889,892		$	(1,817,483	)	$	44,225		$	(27,607	)	$	3,664,132		$	(917,278	)	$	2,719,247
Frontier Trading Company XXXVIII ,LLC		(15,485	)		748,101			(394,852	)	$	337,764			(19,326	)		(670,668	)		(468,437	)		(1,158,431	)
Total	$	(43,669	)	$	2,637,993		$	(2,212,335	)	$	381,989		$	(46,933	)	$	2,993,464		$	(1,385,715	)	$	1,560,816
Equinox Frontier Heritage Fund
Frontier Trading Company II LLC	$	(5,187	)	$	380,897		$	(330,929	)	$	44,781		$	(6,182	)	$	820,288		$	(205,585	)	$	608,521
Frontier Trading Company V LLC		—			—			—			—			—			—			—			—
Frontier Trading Company XXXVIII, LLC		(3,489	)		167,362			(86,307	)		77,566			(5,444	)		(199,276	)		(149,643	)		(354,363	)
Frontier Trading Company XXXIX, LLC		—			—			—			—			—			—			—			—
Total	$	(8,676	)	$	548,259		$	(417,236	)	$	122,347		$	(11,626	)	$	621,012		$	(355,228	)	$	254,158

The statements of financial condition as of June 30, 2015 and December 31, 2014 and the Condensed Statement of Income for the three and six months ended June 30, 2015 and 2014 for the unconsolidated Trading Companies are as follows:

Statements of Financial Condition - June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	12,124,771		$	6,069,994		$	6,984,925
Open trade equity/(deficit)		(278,805	)		3,259,443			(620,620	)
Interest receivable/(payable)		78			(40	)		277
Total assets	$	11,846,044		$	9,329,397		$	6,364,582
Members’ equity	$	11,846,044		$	9,329,397		$	6,364,582
Condensed Statement of Income - For the Three Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,243	)	$	479		$	707
Net realized gain/(loss) on investments, less		(3,431,043	)		(8,596,912	)		(2,837,649	)
Change in open trade equity/(deficit)		(955,908	)		3,773,587			1,391,567
Net income/(loss)	$	(4,388,194	)	$	(4,822,846	)	$	(1,445,375	)
Condensed Statement of Income - For the Six Months Ended June 30, 2015	Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	(1,630	)	$	589		$	707
Net realized gain/(loss) on investments, less		(3,941,511	)		(5,937,702	)		(3,827,270	)
Change in open trade equity/(deficit)		3,752,063			523,855			1,996,206
Net income/(loss)	$	(191,078	)	$	(5,413,258	)	$	(1,830,357	)

Statements of Financial Condition - December 31, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Receivable from commission merchants	$	13,015,321		$	18,121,232		$	1,834,790		$	11,072,355		$	4,826,699
Open trade equity/(deficit)		2,937,971			2,107,459			3,617,656			3,510,148			256,729
Interest receivable/(payable)		(2,291	)		607			(160	)		817			7
Total assets	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Members’ equity	$	15,951,001		$	20,229,298		$	5,452,286		$	14,583,320		$	5,083,435
Condensed Statement of Income - For the Three Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(1,560	)	$	857		$	2,012		$	497
Net realized gain/(loss) on investments, less		(4,217,338	)		(5,965,412	)		5,454,372			1,510,226			735,318
Change in open trade equity/(deficit)		(312,487	)		69,697			(1,329,358	)		(1,504,440	)		431,576
Net income/(loss)	$	(4,517,305	)	$	(5,897,275	)	$	4,125,871		$	7,798		$	1,167,391
Condensed Statement of Income - For the Six Months Ended June 30, 2014	Frontier Trading Company I LLC			Frontier Trading Company II LLC			Frontier Trading Company VII LLC			Frontier Trading Company XV LLC			Frontier Trading Company XXXVIII LLC
Interest income	$	12,520		$	(2,520	)	$	857		$	2,237		$	1,916
Net realized gain/(loss) on investments, less		(4,217,338	)		(7,909,584	)		5,454,372			(1,313,834	)		4,531,142
Change in open trade equity/(deficit)		(312,487	)		2,213,834			(1,329,358	)		2,737,190			3,263,786
Net income/(loss)	$	(4,517,305	)	$	(5,698,270	)	$	4,125,871		$	1,425,593		$	7,796,844

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Swaps

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Swaps

4. Swaps

In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Total return Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical total return Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities.

Each Series’ investment in Swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The Swaps serve to diversify the investment holdings of each Series and to provide access to programs and advisors that would not be otherwise available to the Series, and are not used for hedging purposes.

The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As of June 30, 2015 and December 31, 2014, approximately 8.3% and 7.0%, respectively, of the Trust’s assets were deposited with over-the-counter counterparties in order to initiate and maintain Swaps and is recorded as cash and cash equivalents on the Statements of Financial Condition of the Trust.

The Series may strategically invest assets in one or more Swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of these Series will be invested will not own any of the investments or indices referenced by any Swap entered into by these Series. In addition, neither the swap counterparty to the Trading Company of these Series nor any advisor referenced by any such Swap is a Trading Advisor to these Series.

The Series had invested in the following Swaps as of and for the six months ended June 30, 2015:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap			Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG			DeutscheBank AG
Notional Amount	$	62,910,098	$	30,500,000	$	10,090,513		$	15,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018			3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	3,880,000		$	5,993,000
Swap Value	$	8,891,634	$	4,215,169	$	424,209		$	1,816,251
Investee Returns		Total Returns		Total Returns		Total Returns			Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0		$	0
Change in Unrealized Gain/(Loss)	$	244,680	$	1,044,760	($	328,851	)	$	268,786
Fair Value as of 6/30/2015	$	18,491,634	$	7,615,169	$	4,304,209		$	7,809,251

The Series had invested in the following Swaps as of and for the year ended December 31, 2014:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap		Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	67,610,098	$	35,500,000	$	13,590,513	$	17,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018		3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	2,880,000	$	5,993,000
Swap Value	$	8,646,954	$	3,170,408	$	753,060	$	1,547,465
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	8,120,996	$	3,132,777	$	1,176,514	$	2,105,281
Fair Value as of 12/31/2014	$	18,246,955	$	6,570,409	$	3,633,060	$	7,540,466

Equinox Frontier Funds [Member]

Swaps

4. Swaps

In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return swaps, selected at the direction of the Managing Owner. Total Return Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical Total Return Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities.

The Trust’s investment in Swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The Swaps serve to diversify the investment holdings of the Trust and to provide access to programs and advisors that would not be otherwise available to the Trust, and are not used for hedging purposes.

The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As of June 30, 2015 and December 31, 2014, approximately 14.9% or $38,220,263 and 12.5% or $35,990,887, respectively, of the Trust’s assets were invested with over-the-counter counterparties in order to initiate and maintain Swaps and is recorded as Swap Contracts, at fair value on the Statements of Financial Condition of the Trust. This cash held with the counterparty is not restricted.

The Trust strategically invests assets in one or more Swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of the Trust will be invested will not own any of the investments or indices referenced by any Swap entered into by the Trust. In addition, neither the Swap counterparty nor any advisor referenced by any such Swap is a Trading Advisor to the Trust.

The Trust had invested in the following swaps as of and for the six months ended June 30, 2015:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	15,663,283	$	62,910,098	$	30,500,000	$	10,090,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,816,251	$	8,891,634	$	4,215,169	$	424,209
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	268,786	$	244,680	$	1,044,760	($	328,851	)
Fair Value as of 6/30/2015	$	7,809,251	$	18,491,634	$	7,615,169	$	4,304,209

The Trust had invested in the following swaps as of and for the year ended December 31, 2014:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	17,663,283	$	67,610,098	$	35,500,000	$	13,590,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,547,466	$	8,646,955	$	3,170,409	($	246,940	)
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Unrealized Gain/(Loss)	$	2,105,281	$	8,120,996	$	3,132,777	$	1,176,514
Fair Value as of 12/31/2014	$	7,540,466	$	18,246,955	$	6,570,409	$	3,633,060

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Transactions with Affiliates (Tables) - The Series of Equinox Frontier Funds [Member]

6 Months Ended

Jun. 30, 2015

Fees Earned by Managing Owner

The following table summarizes fees earned by the Managing Owner for the three and six months ended June 30, 2015 and 2014:

Three Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	4,000	$	243,004	$	108,250	$	351,096
Equinox Frontier Masters Fund		41,072		182,496		60,813		147,701
Equinox Frontier Long/Short Commodity Fund		40,149		131,237		29,629		65,150
Equinox Frontier Balanced Fund		9,517		267,377		556,081		194,144
Equinox Frontier Select Fund		—		78,206		101,967		28,454
Equinox Frontier Winton Fund		—		307,212		198,125		74,984
Equinox Frontier Heritage Fund		—		70,986		74,974		25,063
Three Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	954,829	$	271,073	$	125,184	$	307,242
Equinox Frontier Masters Fund		168,094		230,233		76,310		147,195
Equinox Frontier Long/Short Commodity Fund		—		223,050		30,304		64,027
Equinox Frontier Balanced Fund		902,054		264,152		492,255		167,758
Equinox Frontier Select Fund		26,677		140,286		97,799		27,150
Equinox Frontier Winton Fund		415,629		287,648		177,981		64,049
Equinox Frontier Heritage Fund		86,999		81,966		65,875		21,279
Six Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,638,242	$	489,308	$	230,168	$	721,898
Equinox Frontier Masters Fund		576,374		361,156		125,991		301,334
Equinox Frontier Long/Short Commodity Fund		279,366		254,273		61,529		134,078
Equinox Frontier Balanced Fund		1,496,474		526,972		1,118,882		389,488
Equinox Frontier Select Fund		158,971		158,278		208,868		58,347
Equinox Frontier Winton Fund		715,409		630,317		403,462		151,960
Equinox Frontier Heritage Fund		132,676		148,884		151,991		50,754
Six Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,386,913	$	547,629	$	273,595	$	649,807
Equinox Frontier Masters Fund		181,806		507,313		180,593		323,110
Equinox Frontier Long/Short Commodity Fund		—		509,680		68,868		146,001
Equinox Frontier Balanced Fund		1,453,340		554,537		1,041,703		355,157
Equinox Frontier Select Fund		26,677		278,724		203,387		56,552
Equinox Frontier Winton Fund		415,629		568,021		360,945		128,644
Equinox Frontier Heritage Fund		86,999		161,975		138,600		44,378

Fees Payable to Managing Owner

The following table summarizes fees payable to the Managing Owner as of June 30, 2015 and December 31, 2014:

As of June 30, 2015
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	4,000	$	83,476	$	15,798	$	36,650	$	124,327
Equinox Frontier Masters Fund		41,071		60,312		5,738		15,452		50,813
Equinox Frontier Long/Short Commodity Fund		40,149		45,710		3,616		9,149		21,626
Equinox Frontier Balanced Fund		9,517		91,646		101,040		156,201		65,193
Equinox Frontier Select Fund		—		26,065		6,451		29,617		9,285
Equinox Frontier Winton Fund		—		102,252		61,319		46,288		24,963
Equinox Frontier Heritage Fund		—		23,699		13,738		19,744		8,305
As of December 31, 2014
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	2,387,825	$	86,486	$	16,168	$	34,905	$	132,984
Equinox Frontier Masters Fund		722,043		64,497		6,898		17,260		55,912
Equinox Frontier Long/Short Commodity Fund		158,660		45,361		3,713		10,562		24,436
Equinox Frontier Balanced Fund		1,793,318		101,208		84,976		167,151		66,037
Equinox Frontier Select Fund		185,791		27,835		13,263		32,520		10,119
Equinox Frontier Winton Fund		1,178,364		114,823		63,722		52,753		26,690
Equinox Frontier Heritage Fund		239,327		27,944		14,543		20,964		8,676

Interest Paid by Each Series to Managing Owner

The following table outlines the interest paid by each Series to the Managing Owner and its ratio to average net assets for the three and six months ended June 30, 2015 and 2014:

Three Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	11,399	$	13,962		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 2		22,235		19,214		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 3		5,152		699		0.07	%		0.06	%
Equinox Frontier Masters Fund Class 1		7,621		10,192		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 2		6,063		6,395		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 3		3,480		1,270		0.07	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2		801		860		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3		4,837		5,172		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 1a		3,600		4,191		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2a		1,075		1,393		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3a		469		286		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 1		224,354		214,182		0.30	%		0.33	%
Equinox Frontier Balanced Fund Class 1AP		2,435		N/A		0.01	%		N/A
Equinox Frontier Balanced Fund Class 2		76,515		69,432		0.30	%		0.07	%
Equinox Frontier Balanced Fund Class 2a		358		309		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 3a		1,642		1,355		0.06	%		0.07	%
Equinox Frontier Select Fund Class 1		17,252		39,857		0.12	%		0.31	%
Equinox Frontier Select Fund Class 1AP		64		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		1,941		4,400		0.12	%		0.31	%
Equinox Frontier Winton Fund Class 1		119,313		101,949		0.44	%		0.43	%
Equinox Frontier Winton Fund Class 1AP		177		N/A		0.00	%		N/A
Equinox Frontier Winton Fund Class 2		42,458		44,763		0.31	%		0.43	%
Equinox Frontier Heritage Fund Class 1		30,474		30,529		0.30	%		0.35	%
Equinox Frontier Heritage Fund Class 1AP		193		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		10,079		8,905		0.30	%		0.35	%
Total	$	593,987	$	579,315

Six Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	24,840	$	32,290		0.13	%		0.15	%
Equinox Frontier Diversified Fund Class 2		46,546		41,944		0.13	%		0.14	%
Equinox Frontier Diversified Fund Class 3		9,714		860		0.13	%		0.08	%
Equinox Frontier Masters Fund Class 1		15,782		25,974		0.14	%		0.18	%
Equinox Frontier Masters Fund Class 2		12,344		14,025		0.14	%		0.16	%
Equinox Frontier Masters Fund Class 3		6,829		1,677		0.14	%		0.09	%
Equinox Frontier Long/Short Commodity Fund Class 2		1,696		2,856		0.13	%		0.24	%
Equinox Frontier Long/Short Commodity Fund Class 3		10,011		12,025		0.13	%		0.17	%
Equinox Frontier Long/Short Commodity Fund Class 1a		7,628		10,200		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 2a		2,263		3,544		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 3a		949		588		0.13	%		0.15	%
Equinox Frontier Balanced Fund Class 1		430,704		479,990		0.57	%		0.73	%
Equinox Frontier Balanced Fund Class 1AP		4,627		N/A		0.02	%		N/A
Equinox Frontier Balanced Fund Class 2		145,522		156,628		0.57	%		0.74	%
Equinox Frontier Balanced Fund Class 2a		680		650		0.12	%		0.14	%
Equinox Frontier Balanced Fund Class 3a		3,118		2,939		0.11	%		0.14	%
Equinox Frontier Select Fund Class 1		41,323		89,879		0.29	%		0.69	%
Equinox Frontier Select Fund Class 1AP		149		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		4,702		10,092		0.29	%		0.70	%
Equinox Frontier Winton Fund Class 1		241,720		213,976		0.89	%		0.90	%
Equinox Frontier Winton Fund Class 1AP		354		N/A		0.01	%		N/A
Equinox Frontier Winton Fund Class 2		103,429		90,922		0.76	%		0.87	%
Equinox Frontier Heritage Fund Class 1		61,466		67,699		0.60	%		0.77	%
Equinox Frontier Heritage Fund Class 1AP		381		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		20,247		18,948		0.60	%		0.74	%
Total	$	1,197,024	$	1,277,706

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Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Basis of Presentation

Basis of Presentation—The Series of the Trust follow U.S. Generally Accepted Accounting Principles (“GAAP”), as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

Consolidation

Consolidation—The Series, through investing in the Trading Companies, authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. Trading Companies in which a Series has a controlling and majority equity interest are consolidated by such Series. Investments in Trading Companies in which a Series does not have a controlling and majority interest are accounted for under the equity method, which approximates fair value. Fair value represents the proportionate share of the Series’ interest in the NAV in a Trading Company. The equity interest held by Series of the Trust is shown as investments in unconsolidated trading companies in the statements of financial condition. The income or loss attributable thereto in proportion of investment level is shown in the statements of operations as change in fair value of investments in unconsolidated trading companies.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Balanced Fund included the assets and liabilities of its majority owned Trading Companies. These Trading Companies include Frontier Trading Company XIV, LLC, Frontier Trading Company XXIII, LLC, Frontier Trading Company XXIX, LLC and Frontier Trading Company XXXIV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Balanced Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Long/Short Commodity Fund included the assets and liabilities of its majority owned Trading Company, Frontier Trading Company XXXVII, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Long/Short Commodity Fund included the earnings of its majority owned Trading Companies listed above.

As of June 30, 2015, the consolidated balance sheet of Equinox Frontier Diversified Fund included the assets and liabilities of its majority owned Frontier Trading Company I, LLC and, Frontier Trading Company XXXV, LLC.

For the six months ended June 30, 2015, the consolidated income statement of Equinox Frontier Diversified Fund included the earnings of its majority owned Trading Companies listed above.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Heritage Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XXXIX, LLC.

As of and for the six months ended June 30, 2015, the consolidated balance sheet and income statement of Equinox Frontier Select Fund included the assets, liabilities and earnings of its majority owned Trading Company, Frontier Trading Company XV, LLC except for the earnings from January 1, 2015 to January 2, 2015.

Each of the Series has invested in Frontier Trading Company XXXVIII, LLC on the same basis as its ownership in the cash pool. Frontier Trading Company XXXVIII, LLC assets, liabilities and earnings are allocated to all the Series of the Trust based on their proportionate share of the cash pool.

Use of Estimates

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates, and such differences could be material.

Cash and Cash Equivalents

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of six months or less. This cash is not restricted.

Interest Income

Interest Income—Aggregate interest income from all sources, including U.S. Treasuries and assets held at a futures commission merchant (“FCM”), of up to two percentage points of the aggregate percentage yield (annualized) of net asset value less any fair market value related to swaps, is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1, and Class 2 only), Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund and Equinox Frontier Balanced Fund (Class 1a, Class 2a and Class 3a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Series, and shown net on the statement of operations.

U.S. Treasury Securities are pooled for purposes of maximizing returns on these assets to investors of all Series. Interest income from pooled cash management assets is recognized on the accrual basis and allocated daily to each Series based upon its daily proportion of ownership of the pool.

U.S. Treasury Securities

U.S. Treasury Securities—U.S. Treasury Securities are allocated to all Series of the Trust based on each Series’ percentage ownership in the pooled cash management assets as of the reporting date. They are reported at fair value as Level 1 inputs under ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Series of the Trust valued U.S. Treasury Securities at fair value and recorded the daily change in value in the statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants

Receivable From Futures Commission Merchants—The Series of the Trust deposit assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust, with respect to the Series, earns interest income on its assets deposited with the FCM.

Investment Transactions

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the statements of financial condition as open trade equity (deficit) as there exists a right of offset of unrealized gains or losses in accordance with ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest is recognized in the period earned and the instruments are marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the statements of operations.

Foreign Currency Transactions

Foreign Currency Transactions—The Series’ functional currency is the U.S. dollar, however, they transact business in currencies other than the U.S. dollar. The Series do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings

Allocation of Earnings—Each Series of the Trust may maintain between three or six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a). All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as Swaps that are directly allocated to a specific series). The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Company, or Companies.

Investments and Swaps

Investments and Swaps—The Trust, with respect to the Series, records investment transactions on a trade date basis and at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable; and quality control testing procedures in place.

Income Taxes

Income Taxes—The Trust, with respect to the Series, applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust, with respect to the Series’, financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust, with respect to the Series. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust, with respect to the Series, is treated as a partnership for federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust, with respect to the Series, are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, selling agent service fees and all other operating expenses and continuing offering costs of the Trust, with respect to the Series.

Service Fees

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents.

These service fees are part of the offering costs of the Trust, with respect to the Series, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial positions or results of operations.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

In February, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 provides guidance on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). ASU 2015-02 is effective for periods beginning after December 15, 2015. The adoption of ASU 2015-02 is not expected to have a material effect on the Trust’s financial statements. Early adoption is permitted. In May 2014 the FASB issued a final standard on revenue from contracts with customers. The standard, issued as FASB ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The ASU is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. A full retrospective or modified retrospective approach may be taken to adopt the guidance in the ASU. The Trust is currently evaluating the impact of the provisions of ASU 2014-09 on its consolidated financial position, results of operations and related disclosures.

Subsequent Events

Subsequent Events—The Trust, with respect to the Series, follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued.

Equinox Frontier Funds [Member]

Basis of Presentation

Basis of Presentation—The Trust follows GAAP, as established by the Financial Accounting Standards Board (the “FASB”), to ensure consistent reporting of financial condition, condensed schedules of investments, results of operations, changes in capital and cash flows. The Trust is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946.

Consolidation

Consolidation—Each Series of the Trust invests in Trading Companies who authorize certain Trading Advisors to place trades and manage assets at pre-determined investment levels. The Trading Companies were organized by the Managing Owner for the purpose of investing in commodities interests and derivative instruments, and have no operating income or expenses, except for trading income and expenses, all of which is allocated to the Series. The Trading Companies and Series of the Trust are consolidated by the Trust.

Use of Estimates

Use of Estimates—The preparation of financial statements in conformity with GAAP may require the Managing Owner to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The valuation of swap contracts requires significant estimates as well as the valuation of certain other investments. Please refer to Note 3 for discussion of valuation methodology. Actual results could differ from these estimates and such differences could be material.

Cash and Cash Equivalents

Cash and Cash Equivalents—Cash and cash equivalents include cash and overnight investments in interest-bearing demand deposits held at banks with original maturities of three months or less. This cash is not restricted.

Interest Income

Interest Income—Aggregate interest income from all sources, including U.S. Treasury securities and assets held at FCMs, up to the first two percentage points or 20% of the aggregate percentage yield (annualized) is paid to the Managing Owner. All interest not paid to the Managing Owner is interest income to the Trust, and shown net on the consolidated statement of operations.

U.S. Treasury Securities

U.S. Treasury Securities—U.S. Treasury Securities are reported at fair value as Level 1 inputs under ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Trust values U.S. Treasury Securities at fair value and records the daily change in value in the consolidated statements of operations as net unrealized gain/(loss) on U.S. Treasury securities. Accrued interest is reported on the consolidated statements of financial condition as interest receivable.

Receivable From Futures Commission Merchants

Receivable From Futures Commission Merchants—The Trust deposits assets with a FCM subject to CFTC regulations and various exchange and broker requirements. Margin requirements are satisfied by the deposit of cash with such FCM. The Trust earns interest income on its assets deposited with the FCM.

Investment Transactions

Investment Transactions—Futures, options on futures, forward and swap contracts are recorded on a trade date basis and realized gains or losses are recognized when contracts are settled. Unrealized gains or losses on open contracts (the difference between contract trade price and market price) are reported in the consolidated statements of financial condition as a net unrealized gain or loss, as there exists a right of offset of unrealized gains or losses in accordance with FASB ASC 210, Balance Sheet (“ASC 210”) and Accounting Standards Update (ASU) 2013-01, Balance Sheet (Topic 210).

Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations.

Foreign Currency Transactions

Foreign Currency Transactions—The Series of the Trust’s functional currency is the U.S. dollar; however, they transact business in currencies other than the U.S. dollar. The Series of the Trust do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized or unrealized gain or loss from investments.

Allocation of Earnings

Allocation of Earnings—Each Series of the Trust may maintain three to six classes of Units—Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a. All classes have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that fees charged to a Class or Series differ as described below. Revenues, expenses (other than expenses attributable to a specific class), and realized and unrealized trading gains and losses of each Series are allocated daily to Class 1, Class 1a, Class 2, Class 2a, Class 3 and Class 3a Units based on each Class’ respective owners’ capital balances as applicable to the classes maintained by the Series.

Investments and Swaps

Investments and Swaps—The Trust records investment transactions on a trade date basis and all investments are recorded at fair value, with changes in fair value reported as a component of realized and unrealized gains/(losses) on investments in the statements of operations. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the discretion of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more underlying investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The valuation of swap contracts requires significant estimates. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. This fair value is corroborated by valuations provided by a third party pricing service on a daily basis. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable, and quality control testing procedures in place.

Income Taxes

Income Taxes—The Trust applies the provisions of ASC 740 Income Taxes (“ASC 740”), which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Trust’s financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Trust’s level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The Managing Owner has concluded there is no tax expense, interest or penalties to be recorded by the Trust for the six months ended June 30, 2015. The 2011 through 2014 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

In the opinion of the Managing Owner, (i) the Trust is treated as a partnership for Federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, the Trust is not a publicly traded partnership treated as a corporation, and (ii) the discussion set forth in the Prospectus under the heading “Federal Income Tax Consequences” correctly summarizes the material Federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust.

Fees and Expenses

Fees and Expenses—All management fees, incentive fees, service fees and trading fees of the Trust are paid to the Managing Owner. It is the responsibility of the Managing Owner to pay all Trading Advisor management and incentive fees, Selling Agent Service fees and all other operating expenses and continuing offering costs of the Trust.

Service Fees

Service Fees—The Trust may maintain each Series of Units in three to six classes—Class 1, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of any Series are charged a service fee of up to three percent (3.0%) annually of the NAV of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to three percent (3.0%) of the NAV at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to Selling Agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund or Class 2a Units of the Equinox Frontier Long/Short Commodity Fund sold) until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series for administrative purposes. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such Selling Agents.

These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

Pending Owner Additions

Pending Owner Additions—Funds received for new subscriptions and for additions to existing owner interests are recorded as capital additions at the NAV per unit of the second business day following receipt.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements—In September of 2013, FASB issued ASU 2013-08 to (i) modify Topic 946 for determining whether an entity is an investment company; (ii) update the measurement requirements for noncontrolling interests in other investment companies; and (iii) require additional disclosures for investment companies under GAAP. This guidance is effective for annual and interim periods beginning on or after December 15, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the financial position or results of operations.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements—Recently Issued Accounting Pronouncements—In May of 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force). This ASU removes the requirement to categorize within the fair value hierarchy investments for which fair values are measured at NAV using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted.

Subsequent Events

Subsequent Events—The Trust follows the provisions of ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date and up through the date the financial statements are issued. No events or transactions requiring recognition or disclosure have been identified.

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Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Derivative Instruments and Hedging Activities

8. Derivative Instruments and Hedging Activities

The Series’ primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts). The Series do not enter into or hold positions for hedging purposes as defined under ASC 815, Derivatives and Hedging (“ASC 815”). The detail of the fair value of the Series’ derivatives by instrument types as of June 30, 2015 and December 31, 2014 is included in the Condensed Schedules of Investments. See Note 4 for further disclosure related to each Series’ position in swap contracts.

The following tables summarize the monthly averages of futures contracts bought and sold for each respective Series of the Trust:

For the Three Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		546		584
Equinox Frontier Balanced Fund		1,797		1,774
Equinox Frontier Diversified Fund		2,769		2,726

For the Three Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		67		66
Equinox Frontier Balanced Fund		3,740		3,748

For the Six Months Ended June 30, 2015

Monthly average contracts:

	Bought		Sold
Equinox Frontier Select Fund		1,255		1,304
Equinox Frontier Balanced Fund		4,039		3,985
Equinox Frontier Diversified Fund		6,368		6,338

For the Six Months Ended June 30, 2014

Monthly average contracts:

	Bought		Sold
Equinox Frontier Long/Short Commodity Fund		3,593		3,902
Equinox Frontier Balanced Fund		8,390		8,355
Equinox Frontier Masters Fund		79		113

The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(201,265	)	$	(370,488	)	$	(145,932	)
Currencies		(645,245	)		(1,169,704	)		259,547
Energies		(440,367	)		119,419			(612,864	)
Agriculturals		(104,895	)		(75,520	)		(235,594	)
Interest rates		(848,640	)		(1,397,750	)		427,927
Stock indices		76,440			211,184			787,414
Realized trading income/(loss)(1)	$	(2,163,972	)	$	(2,682,859	)	$	480,498

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	21,000		$	(318,434	)
Currencies		—			(391,938	)
Energies		96,785			(96,424	)
Agriculturals		(257,049	)		(138,369	)
Interest rates		3,989			2,409,585
Stock indices		(9,090	)		2,647,014
Realized trading income/(loss)(1)	$	(144,365	)	$	4,111,434

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(746,843	)	$	(744,338	)	$	(626,206	)
Currencies		(311,552	)		521,161			1,559,721
Energies		253,545			685,468			19,336
Agriculturals		(132,603	)		(34,965	)		(192,326	)
Interest rates		206,485			712,111			5,125,887
Stock indices		852,623			2,453,383			2,995,255
Realized trading income/(loss)(1)	$	121,655		$	3,592,820		$	8,881,667

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(60,704	)	$	(988,064	)	$	(5,850	)
Currencies		(278,672	)		(191,348	)		(130,109	)
Energies		(1,920,468	)		(53,467	)		(783	)
Agriculturals		(252,807	)		159,728			(19,987	)
Interest rates		(223,175	)		5,794,195			471,687
Stock indices		154,966			3,009,552			10,927
Realized trading income/(loss)(1)	$	(2,580,860	)	$	7,730,596		$	325,885

(1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options.

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	138,192		$	(77,032	)	$	6,780
Currencies		(98,437	)		165,879			(364,623	)
Energies		(83,883	)		(84,762	)		(92,955	)
Agriculturals		(516,454	)		218,632			(521,317	)
Interest rates		(139,963	)		(683,706	)		(1,291,495	)
Stock indices		(202,114	)		(586,952	)		(820,705	)
Change in unrealized trading income/(loss)(1)	$	(902,659	)	$	(1,047,941	)	$	(3,084,315	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Metals	$	52,921		$	(4,268	)
Currencies		(14,053	)		(18,442	)
Energies		51,961			219,801
Agriculturals		1,619,030			396,753
Interest rates		24,050			1,252,653
Stock indices		33,223			(1,222,734	)
Change in unrealized trading income/(loss)(1)	$	1,767,132		$	623,763

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract	Equinox Frontier Select Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	545,034		$	7,712		$	176,379
Currencies		(26,264	)		(35,662	)		(1,067,105	)
Energies		(744,229	)		(630,250	)		(403,177	)
Agriculturals		(437,516	)		113,791			(226,857	)
Interest rates		(576,893	)		(931,136	)		(1,605,340	)
Stock indices		(366,874	)		(938,211	)		(86,106	)
Change in unrealized trading income/(loss)(1)	$	(1,606,742	)	$	(2,413,756	)	$	(3,212,206	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2014

Type of contract	Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund			Equinox Frontier Diversified Fund
Metals	$	(162,388	)	$	(253,715	)	$	73,476
Currencies		(6,439	)		(190,539	)		(195,840	)
Energies		1,631,427			208,535			(135,932	)
Agriculturals		(574,982	)		564,384			(73,196	)
Interest rates		322,580			1,123,141			55,085
Stock indices		(248,852	)		(2,987,207	)		193,070
Change in unrealized trading income/(loss)(1)	$	961,346		$	(1,535,401	)	$	(83,337	)

(1) Amounts recorded in the Statements of Operations under Net change in open trade equity (deficit).

Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Series’ open trade equity/(deficit), options written, and receivables from futures commissions merchants (each, an “FCM”) are subject to master netting arrangements and collateral arrangements and meet the U.S. GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Series’ policy is to recognize amounts subject to master netting arrangements on a net basis on the statements of financial condition.

The following tables present gross and net information about the Series’ assets and liabilities subject to master netting arrangements as disclosed on the statements of financial condition as of June 30, 2015 and December 31, 2014.

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	116,357	$	(895,320	)	$	(778,963	)
Swap Contracts		18,491,634		—			18,491,634
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	—	$	(571,551	)	$	(571,551	)
Options Purchased		374,470		—			374,470
Options Written		—		(219,660	)		(219,660	)
Swap Contracts	$	7,615,169	$	—			7,615,169
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	4,304,209	$	—			4,304,209
Equinox Frontier Heritage Fund
Swap Contracts	$	7,809,251	$	—			7,809,251
Equinox Frontier Select Fund
Open Trade Equity/(Deficit)	$	153,408	$	(97,452	)	$	55,956

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statements of Financial Condition			Net Amounts Presented in the Statements of Financial Condition
Equinox Frontier Balanced Fund
Open Trade Equity/(Deficit)	$	4,281,391	$	(983,842	)	$	3,297,549
Swap Contracts		18,246,954		—			18,246,954
Equinox Frontier Diversified Fund
Open Trade Equity/(Deficit)	$	3,215,206	$	—		$	3,215,206
Options Purchased		288,413		—			288,413
Options Written		—		(253,018	)		(253,018	)
Swap Contracts		6,570,408		—			6,570,408
Equinox Frontier Long/Short Commodity Fund
Swap Contracts	$	3,633,060	$	—		$	3,633,060
Equinox Frontier Heritage Fund
Swap Contracts	$	7,540,465	$	—		$	7,540,465

Equinox Frontier Funds [Member]

Derivative Instruments and Hedging Activities

7. Derivative Instruments and Hedging Activities

The Trust’s primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts). The Trust does not enter into or hold positions for hedging purposes as defined under ASC 815. The detail of the fair value of the Trust’s derivatives by instrument types as of June 30, 2015 and December 31, 2014 is included in the Consolidated Condensed Schedules of Investments. See Note 4 for further disclosure related to the Trust’s positions in swap contracts.

For the three and six months ended June 30, 2015 and 2014, the monthly average of futures contracts bought was approximately 10,232 and 9,319, respectively and sold was approximately 10,304 and 9,124, respectively.

The following tables summarize the trading revenues for the three and six months ended June 30, 2015 and 2014 by contract type:

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	787,054
Currencies		322,356
Energies		3,239,657
Agriculturals		250,296
Interest rates		(4,205,211	)
Stock indices		(3,588,047	)
Change in unrealized trading income/(loss)(1)	$	(3,193,895	)

Net Change in Open Trade Equity from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	891,238
Currencies		(2,005,957	)
Energies		(4,686,989	)
Agriculturals		438,060
Interest rates		(4,395,416	)
Stock indices		(3,736,272	)
Change in unrealized trading income/(loss)(1)	$	(13,495,336	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options

for the Three Months Ended June 30, 2015

Type of contract
Metals	$	(1,671,013	)
Currencies		(5,995,199	)
Energies		(6,800,965	)
Agriculturals		66,907
Interest rates		(1,770,084	)
Stock indices		1,991,665
Realized trading income/(loss)(1)	$	(14,178,689	)

Realized Trading Revenue from Futures, Forwards and Options

for the Six Months Ended June 30, 2015

Type of contract
Metals	$	(3,529,813	)
Currencies		4,134,192
Energies		4,751,972
Agriculturals		(81,778	)
Interest rates		8,150,824
Stock indices		12,383,579
Realized trading income/(loss)(1)	$	25,808,976

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	1,029,170
Currencies		450,876
Energies		300,637
Agriculturals		749,674
Interest rates		4,544,705
Stock indices		(1,089,139	)
Change in unrealized trading income/(loss)(1)	$	5,985,923
Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(947,051	)
Currencies		(3,956,074	)
Energies		1,967,434
Agriculturals		(471,767	)
Interest rates		4,765,842
Stock indices		(6,400,414	)
Change in unrealized trading income/(loss)(1)	$	(5,042,030	)

(1) Amounts recorded in the Consolidate Statement of Operations under net change in open trade equity (deficit), at fair value.

Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2014
Type of contract
Metals	$	(2,663,349	)
Currencies		(786,959	)
Energies		(234,908	)
Agriculturals		(1,684,548	)
Interest rates		4,682,671
Stock indices		6,048,688
Realized trading income/(loss)(1)	$	5,361,595
Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2014
Type of contract
Metals	$	(3,401,979	)
Currencies		(441,730	)
Energies		(1,894,183	)
Agriculturals		(1,738,025	)
Interest rates		7,301,379
Stock indices		5,687,637
Realized trading income/(loss)(1)	$	5,513,099

(1) Amounts recorded in the Consolidated Statements of Operations under net realized gain/(loss) on futures, forwards and options

Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Trust’s open trade equity/(deficit), options written, and receivables from FCMs are subject to master netting arrangements and collateral arrangements and meet the GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Trust’s policy is to recognize amounts subject to master netting arrangements on a net basis on the consolidated statements of financial condition.

The following tables present gross and net information about the Trust’s assets and liabilities subject the master netting arrangements as disclosed on the consolidated statements of financial condition as of June 30, 2015 and December 31, 2014:

Offsetting of Derivative Assets and Liabilities

As of June 30, 2015	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	—	$	(17,281	)	$	(17,281	)
Options Purchased		3,819,429		—			3,819,429
Options Written		—		(2,581,870	)		(2,581,870	)
Swap Contracts		38,220,263		—			38,220,263

Offsetting of Derivative Assets and Liabilities

As of December 31, 2014	Gross Amounts of recognized Derivative Assets		Gross Amounts offset in the Statement of Financial Condition			Net Amounts Presented in the Statement of Financial Condition
Open Trade Equity/(Deficit)	$	17,120,111	$	(2,295,689	)	$	14,824,422
Options Purchased		9,075,883		—			9,075,883
Options Written		—		(8,963,838	)		(8,963,838	)
Swap Contracts		35,990,887		—			35,990,887

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Transactions with Affiliates

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Transactions with Affiliates

6. Transactions with Affiliates

The Managing Owner contributes funds to the Trust, with respect to the Series, in order to have a 1% interest in the aggregate capital, profits and losses of all Series and in return will receive units designated as general units in the Series in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner is required

to maintain at least a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of all Series so long as it is acting as the Managing Owner of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Equinox Frontier Balanced Fund Class 1a and 2a Units, aggregated, and each of the Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Diversified Fund and Equinox Frontier Masters Fund. The 1% interest in these specific Series is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, with respect to the Series, as well. All Units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates.

Expenses

Management Fees—Each Series of Units pays to the Managing Owner a monthly management fee equal to a percentage of the nominal assets of such Series, calculated on a daily basis. The total amount of assets of a series allocated to trading advisors and/or reference programs, including (i) actual funds deposited in accounts directed by the trading advisors or deposited as margin in respect of swaps or other derivative instruments referencing a reference program plus (ii) any notional equity allocated to the trading advisors and any reference programs, is referred to herein as the “nominal assets” of the series. The annual rate of the management fee is: 0.5% for the Equinox Frontier Balanced Fund Class 1, Class 2 and Class 3, 1.0% for the Equinox Frontier Balanced Fund Class 1a, Class 2a and Class 3a, 2.0% for the Equinox Frontier Winton Fund, Equinox Frontier Long/Short Commodity Fund Class 1a, Class 2a, and Class 3a and Equinox Frontier Masters Fund, 0.75% for Equinox Frontier Diversified Fund, 2.5% for the Equinox Frontier Heritage Fund and Equinox Frontier Select Fund, and 3.5% for the Equinox Frontier Long/Short Commodity Fund Class 1, Class 2 and Class 3. The Managing Owner may pay all or a portion of such management fees to the Trading Advisor(s) and/or waive (up to the percentage specified) any such management fee to the extent any related management fee is paid by a trading company or estimated management fee is embedded in a swap or other derivative instrument. Any management fee embedded in a swap or other derivative instrument may be greater or less than the management fee that would otherwise be charged to the series by the Managing Owner. As of the date of this Form 10-K, the trading advisor for a series that has invested in a swap has not received any management fees directly from the series for such swap, and instead the relevant trading advisor receives compensation via the fees embedded in the swap.

The management fee as a percentage of the applicable series’ net asset value will be greater than the percentage indicated above to the extent that the nominal assets of the series exceeds its net asset value. The managing owner expects that the nominal assets of each series will generally be maintained at a level in excess of the net asset value of such series and such excess may be substantial to the extent the managing owner deems necessary to achieve the desired level of volatility.

Trading Fees—In connection with each Series’ trading activities, the Equinox Frontier Long/Short Commodity Fund (Classes 1, 2 and 3), Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund pays to the Managing Owner a trading fee, or FCM Fee, up to 0.75% of such Series’ NAV, calculated daily. The Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund (Classes 1a, 2a and 3a) and Equinox Frontier Masters Fund pays to the Managing Owner a trading fee, or FCM Fee, up to 2.25% and a custodial/due diligence fee of 0.12% of such Series’ NAV, calculated daily.

Incentive Fees—Some Series pay to the Managing Owner an incentive fee of a certain percentage of new net trading profits generated by such Series, monthly or quarterly. Because the Equinox Frontier Balanced Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, and Equinox Frontier Long/Short Commodity Fund may each employ multiple Trading Advisors, these Series will pay the Managing Owner a monthly incentive fee calculated on a Trading Advisor by Trading Advisor basis. It is therefore possible that in any given period the Series may pay incentive fees to the Managing Owner for one or more Trading Advisors while each of these Series as a whole experiences losses. The incentive fee is 25% for the Equinox Frontier Balanced Fund and the Equinox Frontier Diversified Fund and 20% for the Equinox Frontier Winton Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, Equinox Frontier Long/Short Commodity Fund and Equinox Frontier Masters Fund. The Managing Owner may pay all or a portion of such incentive fees to the Trading Advisor(s) for such Series.

Service Fees—In addition, with respect to Class 1 and Class 1a Units of each Series, as applicable, the Series pays monthly or service fees to the Managing Owner of up to 3% of NAV annually, which the Managing Owner pays to selling agents of the Trust, with respect to the Series.

The following table summarizes fees earned by the Managing Owner for the three and six months ended June 30, 2015 and 2014:

Three Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	4,000	$	243,004	$	108,250	$	351,096
Equinox Frontier Masters Fund		41,072		182,496		60,813		147,701
Equinox Frontier Long/Short Commodity Fund		40,149		131,237		29,629		65,150
Equinox Frontier Balanced Fund		9,517		267,377		556,081		194,144
Equinox Frontier Select Fund		—		78,206		101,967		28,454
Equinox Frontier Winton Fund		—		307,212		198,125		74,984
Equinox Frontier Heritage Fund		—		70,986		74,974		25,063
Three Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	954,829	$	271,073	$	125,184	$	307,242
Equinox Frontier Masters Fund		168,094		230,233		76,310		147,195
Equinox Frontier Long/Short Commodity Fund		—		223,050		30,304		64,027
Equinox Frontier Balanced Fund		902,054		264,152		492,255		167,758
Equinox Frontier Select Fund		26,677		140,286		97,799		27,150
Equinox Frontier Winton Fund		415,629		287,648		177,981		64,049
Equinox Frontier Heritage Fund		86,999		81,966		65,875		21,279
Six Months Ended June 30, 2015	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,638,242	$	489,308	$	230,168	$	721,898
Equinox Frontier Masters Fund		576,374		361,156		125,991		301,334
Equinox Frontier Long/Short Commodity Fund		279,366		254,273		61,529		134,078
Equinox Frontier Balanced Fund		1,496,474		526,972		1,118,882		389,488
Equinox Frontier Select Fund		158,971		158,278		208,868		58,347
Equinox Frontier Winton Fund		715,409		630,317		403,462		151,960
Equinox Frontier Heritage Fund		132,676		148,884		151,991		50,754
Six Months Ended June 30, 2014	Incentive Fee		Management Fee		Service Fee		Trading Fee
Equinox Frontier Diversified Fund	$	1,386,913	$	547,629	$	273,595	$	649,807
Equinox Frontier Masters Fund		181,806		507,313		180,593		323,110
Equinox Frontier Long/Short Commodity Fund		—		509,680		68,868		146,001
Equinox Frontier Balanced Fund		1,453,340		554,537		1,041,703		355,157
Equinox Frontier Select Fund		26,677		278,724		203,387		56,552
Equinox Frontier Winton Fund		415,629		568,021		360,945		128,644
Equinox Frontier Heritage Fund		86,999		161,975		138,600		44,378

The following table summarizes fees payable to the Managing Owner as of June 30, 2015 and December 31, 2014:

As of June 30, 2015
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	4,000	$	83,476	$	15,798	$	36,650	$	124,327
Equinox Frontier Masters Fund		41,071		60,312		5,738		15,452		50,813
Equinox Frontier Long/Short Commodity Fund		40,149		45,710		3,616		9,149		21,626
Equinox Frontier Balanced Fund		9,517		91,646		101,040		156,201		65,193
Equinox Frontier Select Fund		—		26,065		6,451		29,617		9,285
Equinox Frontier Winton Fund		—		102,252		61,319		46,288		24,963
Equinox Frontier Heritage Fund		—		23,699		13,738		19,744		8,305
As of December 31, 2014
	Incentive Fees		Management Fees		Interest Fees		Service Fees		Trading Fees
Equinox Frontier Diversified Fund	$	2,387,825	$	86,486	$	16,168	$	34,905	$	132,984
Equinox Frontier Masters Fund		722,043		64,497		6,898		17,260		55,912
Equinox Frontier Long/Short Commodity Fund		158,660		45,361		3,713		10,562		24,436
Equinox Frontier Balanced Fund		1,793,318		101,208		84,976		167,151		66,037
Equinox Frontier Select Fund		185,791		27,835		13,263		32,520		10,119
Equinox Frontier Winton Fund		1,178,364		114,823		63,722		52,753		26,690
Equinox Frontier Heritage Fund		239,327		27,944		14,543		20,964		8,676

With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months.

For the six months ended June 30, 2015, amounts paid or owed to the Managing Owner for the difference in monthly service fees from prepaid initial service fees were $4,500 for the Equinox Frontier Balanced Fund, $530 for the Equinox Frontier Long/Short Commodity Fund, $1,173 for the Equinox Frontier Diversified Fund, $211 for the Equinox Frontier Select Fund, $595 for the Equinox Frontier Heritage Fund, $7,984 for the Equinox Frontier Winton Fund and $74 for the Equinox Frontier Masters Fund.

For the six months ended June 30, 2014, amounts paid or owed to the Managing Owner for the difference in monthly service fees from prepaid initial service fees were ($2,936) for the Equinox Frontier Balanced Fund, $21 for the Equinox Frontier Long/Short Commodity Fund, ($2,476) for the Equinox Frontier Diversified Fund, ($160) for the Equinox Frontier Select Fund, ($1,171) for the Equinox Frontier Heritage Fund, ($3,280) for the Equinox Frontier Winton Fund and $1,264 for the Equinox Frontier Masters Fund.

Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1, and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund, and Equinox Frontier Balanced Fund (Class 1a and Class 2a only), 20% of the total interest allocated to each Series is paid to the Managing Owner.

The following table outlines the interest paid by each Series to the Managing Owner and its ratio to average net assets for the three and six months ended June 30, 2015 and 2014:

Three Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	11,399	$	13,962		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 2		22,235		19,214		0.06	%		0.07	%
Equinox Frontier Diversified Fund Class 3		5,152		699		0.07	%		0.06	%
Equinox Frontier Masters Fund Class 1		7,621		10,192		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 2		6,063		6,395		0.07	%		0.07	%
Equinox Frontier Masters Fund Class 3		3,480		1,270		0.07	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2		801		860		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3		4,837		5,172		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 1a		3,600		4,191		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 2a		1,075		1,393		0.06	%		0.07	%
Equinox Frontier Long/Short Commodity Fund Class 3a		469		286		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 1		224,354		214,182		0.30	%		0.33	%
Equinox Frontier Balanced Fund Class 1AP		2,435		N/A		0.01	%		N/A
Equinox Frontier Balanced Fund Class 2		76,515		69,432		0.30	%		0.33	%
Equinox Frontier Balanced Fund Class 2a		358		309		0.06	%		0.07	%
Equinox Frontier Balanced Fund Class 3a		1,642		1,355		0.06	%		0.07	%
Equinox Frontier Select Fund Class 1		17,252		39,857		0.12	%		0.31	%
Equinox Frontier Select Fund Class 1AP		64		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		1,941		4,400		0.12	%		0.31	%
Equinox Frontier Winton Fund Class 1		119,313		101,949		0.44	%		0.43	%
Equinox Frontier Winton Fund Class 1AP		177		N/A		0.00	%		N/A
Equinox Frontier Winton Fund Class 2		42,458		44,763		0.31	%		0.43	%
Equinox Frontier Heritage Fund Class 1		30,474		30,529		0.30	%		0.35	%
Equinox Frontier Heritage Fund Class 1AP		193		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		10,079		8,905		0.30	%		0.35	%
Total	$	593,987	$	579,315

Six Months Ended

	6/30/2015		6/30/2014		6/30/2015			6/30/2014
	Gross Amount Paid to the Managing Owner		Gross Amount Paid to the Managing Owner		Ratio to Average Net Assets			Ratio to Average Net Assets
Equinox Frontier Diversified Fund Class 1	$	24,840	$	32,290		0.13	%		0.15	%
Equinox Frontier Diversified Fund Class 2		46,546		41,944		0.13	%		0.14	%
Equinox Frontier Diversified Fund Class 3		9,714		860		0.13	%		0.08	%
Equinox Frontier Masters Fund Class 1		15,782		25,974		0.14	%		0.18	%
Equinox Frontier Masters Fund Class 2		12,344		14,025		0.14	%		0.16	%
Equinox Frontier Masters Fund Class 3		6,829		1,677		0.14	%		0.09	%
Equinox Frontier Long/Short Commodity Fund Class 2		1,696		2,856		0.13	%		0.24	%
Equinox Frontier Long/Short Commodity Fund Class 3		10,011		12,025		0.13	%		0.17	%
Equinox Frontier Long/Short Commodity Fund Class 1a		7,628		10,200		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 2a		2,263		3,544		0.13	%		0.18	%
Equinox Frontier Long/Short Commodity Fund Class 3a		949		588		0.13	%		0.15	%
Equinox Frontier Balanced Fund Class 1		430,704		479,990		0.57	%		0.73	%
Equinox Frontier Balanced Fund Class 1AP		4,627		N/A		0.02	%		N/A
Equinox Frontier Balanced Fund Class 2		145,522		156,628		0.57	%		0.74	%
Equinox Frontier Balanced Fund Class 2a		680		650		0.12	%		0.14	%
Equinox Frontier Balanced Fund Class 3a		3,118		2,939		0.11	%		0.14	%
Equinox Frontier Select Fund Class 1		41,323		89,879		0.29	%		0.69	%
Equinox Frontier Select Fund Class 1AP		149		N/A		0.00	%		N/A
Equinox Frontier Select Fund Class 2		4,702		10,092		0.29	%		0.70	%
Equinox Frontier Winton Fund Class 1		241,720		213,976		0.89	%		0.90	%
Equinox Frontier Winton Fund Class 1AP		354		N/A		0.01	%		N/A
Equinox Frontier Winton Fund Class 2		103,429		90,922		0.76	%		0.87	%
Equinox Frontier Heritage Fund Class 1		61,466		67,699		0.60	%		0.77	%
Equinox Frontier Heritage Fund Class 1AP		381		N/A		0.01	%		N/A
Equinox Frontier Heritage Fund Class 2		20,247		18,948		0.60	%		0.74	%
Total	$	1,197,024	$	1,277,706

The Managing Owner, under an amended contract, paid to The Bornhoft Group Corporation, an affiliate of the Trust, an annual payment of $1,100,000 for the first year of the contract and $600,000 for the second year of the contract, and $300,000 for the third and final year for investment and advisor services and 0.1% annually thereafter of the trading level with the Equinox Frontier Balanced Fund in lieu of a monthly service fee. The Managing Owner paid $139,848 and $221,095 under this agreement for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements. This contract ended April 30, 2015.

Equinox Financial Group, LLC, an affiliate of the Trust, provides management services for the Managing Owner who paid $730,000 and $241,667 for the six months ended June 30, 2015 and 2014, and $425,000 and $91,667 for the three months ended June 30, 2014, respectively. These amounts have no impact on the Series’ financial statements.

Solon Capital, LLC, an affiliate of the Trust, provides product development and marketing services. For these services, the Managing Owner paid Solon Capital, LLC, $623,715 and $581,681, respectively, for the six months ended June 30, 2015 and 2014 and $307,442 and $272,694 for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements.

Equinox Group Distributors LLC, an affiliate under common control of the Managing Owner, serves as wholesaler of the Trust by marketing to broker/dealer organizations.

Equinox Frontier Funds [Member]

Transactions with Affiliates

5. Transactions with Affiliates

The Managing Owner contributes funds to the Trust in order to have a 1% interest in the aggregate capital, profits and losses and in return will receive units designated as general units in the Series of the Trust in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or management advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner is required to maintain at least a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of the Trust so long as it is acting as the Managing Owner of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Equinox Frontier Balanced Fund Class 1a Units and Equinox Frontier Balanced Fund Class 2a Units, aggregated, and each of the Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Diversified Fund, and Equinox Frontier Masters Fund. The 1% interest in these specific Series of the Trust is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, as well. All units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates.

Expenses

Management Fees—Each Series of Units pays to the Managing Owner a monthly management fee equal to a percentage of the nominal assets of such Series, calculated on a daily basis. The total amount of assets of a series allocated to trading advisors and/or reference programs, including (i) actual funds deposited in accounts directed by the trading advisors or deposited as margin in respect of swaps or other derivative instruments referencing a reference program plus (ii) any notional equity allocated to the trading advisors and any reference programs, is referred to herein as the “nominal assets” of the series. The annual rate of the management fee is: 0.5% for the Equinox Frontier Balanced Fund Class 1, Class 2 and Class 3, 1.0% for the Equinox Frontier Balanced Fund Class 1a, Class 2a and Class 3a, 2.0% for the Equinox Frontier Winton Fund, Equinox Frontier Long/Short Commodity Fund Class 1a, Class 2a and Class 3a and Equinox Frontier Masters Fund, 0.75% for Equinox Frontier Diversified Fund, 2.5% for the Equinox Frontier Heritage Fund and Equinox Frontier Select Fund, and 3.5% for the Equinox Frontier Long/Short Commodity Fund Class 1, Class 2 and Class 3. The Managing Owner may pay all or a portion of such management fees to the Trading Advisor(s) and/or waive (up to the percentage specified) any such management fee to the extent any related management fee is paid by a trading company or estimated management fee is embedded in a swap or other derivative instrument. Any management fee embedded in a swap or other derivative instrument may be greater or less than the management fee that would otherwise be charged to the series by the Managing Owner. As of the date of this Form 10-Q, the trading advisor for a series that has invested in a swap has not received any management fees directly from the series for such swap, and instead the relevant trading advisor receives compensation via the fees embedded in the swap.

The management fee as a percentage of the applicable series’ net asset value will be greater than the percentage indicated above to the extent that the nominal assets of the series exceeds its net asset value. The managing owner expects that the nominal assets of each series will generally be maintained at a level in excess of the net asset value of such series and such excess may be substantial to the extent the managing owner deems necessary to achieve the desired level of volatility.

Trading Fees—In connection with each Series’ trading activities of the Trust, the Equinox Frontier Long/Short Commodity Fund (Classes 1, 2 and 3), Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, Equinox Frontier Winton Fund and Equinox Frontier Heritage Fund pays to the Managing Owner a trading fee, or FCM Fee, of up to 0.75% of such Series’ NAV, calculated daily. The Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund (Classes 1a and 2a) and Equinox Frontier Masters Fund pays to the Managing Owner a trading fee, or FCM Fee, of up to 2.25% and a custodial/due diligence fee of 0.12% of such Series’ NAV, calculated daily.

Incentive Fees—Some Series of the Trust pay to the Managing Owner an incentive fee of a certain percentage of new net trading profits generated by such Series, monthly or quarterly. Because the Equinox Frontier Balanced Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, and Equinox Frontier Long/Short Commodity Fund may each employ multiple Trading Advisors, these Series will pay the Managing Owner a monthly incentive fee calculated on a Trading Advisor by Trading Advisor basis. It is therefore possible that in any given period the Series may pay incentive fees to the Managing Owner for one or more Trading Advisors while each of these Series as a whole experiences losses. The incentive fee is 25% for the Equinox Frontier Balanced Fund and the Equinox Frontier Diversified Fund and 20% for the Equinox Frontier Winton Fund, Equinox Frontier Heritage Fund, Equinox Frontier Select Fund, Equinox Frontier Long/Short Commodity Fund and Equinox Frontier Masters Fund. The Managing Owner may pay all or a portion of such incentive fees to the Trading Advisor(s) for such Series.

Service Fees—In addition, with respect to Class 1 and Class 1a Units of each Series of the Trust, as applicable, the Series pays monthly or quarterly to the Managing Owner a service fee of up to 3% annually, which the Managing Owner pays to selling agents of the Trust.

As of June 30, 2015, the Trust has a payable to the Managing Owner in the amounts of $94,737, $433,161, $207,941, $304,512 and $313,101 for incentive fees, management fees, interest, trading fees, and service fees, respectively.

As of December 31, 2014, the Trust has a payable to the Managing Owner in the amounts of $6,665,328, $468,154, $203,086, $324,854, and $336,115 for incentive fees, management fees, interest, trading fees, and service fees, respectively.

For the three months ended June 30, 2015, the Trust paid the Managing Owner $94,738, $1,280,518, $1,129,839 and $886,592 for incentive fees, management fees, service fees, and trading fees, respectively.

For the three months ended June 30, 2014, the Trust paid the Managing Owner $2,554,722, $1,498,648, $1,065,882 and $798,997 for incentive fees, management fees, service fees, and trading fees, respectively.

For the six months ended June 30, 2015, the Trust paid the Managing Owner $4,997,512, $2,569,188, $2,300,891 and $1,807,859 for incentive fees, management fees, service fees, and trading fees, respectively.

For the six months ended June 30, 2014, the Trust paid the Managing Owner $3,552,049, $3,128,333, $2,268,039, and $1,704,117 for incentive fees, management fees, service fees, and trading fees, respectively.

With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. For the three months ended June 30, 2015 and 2014 amounts received or receivable from the Managing Owner for the difference in monthly service fees from the prepaid initial service fees were $14,977 and ($7,682), respectively.

Aggregate interest income from all sources, including assets held at clearing brokers, up to 2% (annualized) is paid to the Managing Owner by the Equinox Frontier Balanced Fund (Class 1 and Class 2 only), Equinox Frontier Winton Fund, Equinox Frontier Select Fund and Equinox Frontier Heritage Fund. For the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Masters Fund, and Equinox Frontier Balanced Fund (Class 1a and Class 2a only), 20% of the total interest allocated to each Series is paid to the Managing Owner. During the three months ended June 30, 2015 and 2014, the Trust paid $593,987 and $579,315, respectively, and $1,197,024 and $1,277,706 for the six months ended June 30, 2015 and 2014, respectively of such interest income to the Managing Owner. Such amounts are not included in the consolidated statements of operations of the Trust. All other interest income is recorded by the Trust on the consolidated statements of operations.

The Managing Owner, under an amended contract, paid to The Bornhoft Group Corporation, an affiliate of the Trust, an annual payment of $1,100,000 for the first year of the contract and $600,000 for the second year of the contract, and $300,000 for the third and final year for investment and advisor services and 0.1% annually thereafter of the trading level with the Equinox Frontier Balanced Fund in lieu of a monthly service fee. The Managing Owner paid $139,848 and $221,095, respectively under this agreement for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements. This contract ended April 30, 2015.

Equinox Financial Group, LLC, an affiliate of the Trust, provides management services for the Managing Owner who paid $730,000 and $241,667, respectively, for the six months ended June 30, 2015 and 2014, and $425,000 and $91,667 for the three months ended June 30, 2014, respectively. These amounts have no impact on the Series’ financial statements.

Solon Capital, LLC, an affiliate of the Trust, provides product development and marketing services. For these services, the Managing Owner paid Solon Capital, LLC, $623,715 and $581,681, respectively, for the six months ended June 30, 2015 and 2014 and $307,442 and $272,694 for the three months ended June 30, 2015 and 2014, respectively. These amounts have no impact on the Series’ financial statements.

Equinox Group Distributors LLC, an affiliate under common control of the Managing Owner, serves as wholesaler of the Trust by marketing to broker/dealer organizations.

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Financial Highlights

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Financial Highlights

7. Financial Highlights

The following information presents the financial highlights of the Trust, with respect to the Series, for the three and six months ended June 30, 2015 and 2014.

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2015	$	131.66		$	145.76		$	134.57		$	128.38		$	142.12		$	131.73		$	166.20		$	166.06		$	120.70		$	133.49		$	134.09
Net operating results:
Interest income		0.32			0.36			0.33			0.33			0.36			0.34			0.39			0.39			0.28			0.31			0.31
Expenses		(2.02	)		(1.39	)		(1.28	)		(2.44	)		(1.97	)		(1.82	)		(2.12	)		(2.12	)		(2.11	)		(1.70	)		(1.71	)
Net gain/(loss) on investments, net of non-controlling interests		(14.41	)		(16.24	)		(14.92	)		(16.26	)		(18.19	)		(16.80	)		(16.31	)		(16.13	)		(11.70	)		(13.07	)		(13.05	)
Net income/(loss)		(16.11	)		(17.27	)		(15.87	)		(18.37	)		(19.80	)		(18.28	)		(18.04	)		(17.86	)		(13.53	)		(14.46	)		(14.45	)
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-5.46	%		-2.97	%		-2.97	%		-6.56	%		-4.36	%		-4.36	%		-3.82	%		-3.82	%		-5.89	%		-3.82	%		-3.79	%
Expenses before incentive fees (4)		6.50	%		4.01	%		4.01	%		7.50	%		5.30	%		5.30	%		4.59	%		4.59	%		6.67	%		4.59	%		4.55	%
Expenses after incentive fees (4)		6.51	%		4.02	%		4.02	%		7.67	%		5.46	%		5.46	%		4.83	%		4.83	%		6.90	%		4.83	%		4.80	%
Total return before incentive fees (2)		-12.23	%		-11.84	%		-11.79	%		-14.14	%		-13.77	%		-13.71	%		-10.62	%		-10.52	%		-10.98	%		-10.60	%		-10.53	%
Total return after incentive fees (2)		-12.24	%		-11.85	%		-11.79	%		-14.31	%		-13.93	%		-13.88	%		-10.85	%		-10.76	%		-11.21	%		-10.83	%		-10.78	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	148.80		$	151.80		$	204.17		$	174.76		$	174.19					$	106.16		$	108.31		$	143.73
Net operating results:
Interest income		0.01			0.01			0.02			0.01			0.01						0.00			0.00			0.00
Expenses		(1.71	)		(0.66	)		(0.89	)		(0.76	)		(0.76	)					(1.42	)		(0.70	)		(0.93	)
Net gain/(loss) on investments, net of non-controlling interests		(15.28	)		(15.66	)		(21.06	)		(17.65	)		(17.59	)					(17.43	)		(17.87	)		(23.71	)
Net income/(loss)		(16.98	)		(16.31	)		(21.93	)		(18.40	)		(18.34	)					(18.85	)		(18.57	)		(24.64	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-4.76	%		-1.76	%		-1.76	%		-1.76	%		-1.76	%					-5.81	%		-2.81	%		-2.81	%
Expenses before incentive fees (4)		4.78	%		1.78	%		1.78	%		1.78	%		1.78	%					5.81	%		2.81	%		2.81	%
Expenses after incentive fees (4)		4.79	%		1.79	%		1.79	%		1.79	%		1.79	%					5.81	%		2.81	%		2.81	%
Total return before incentive fees (2)		-11.40	%		-10.74	%		-10.73	%		-10.52	%		-10.52	%					-17.76	%		-17.15	%		-17.14	%
Total return after incentive fees (2)		-11.41	%		-10.74	%		-10.74	%		-10.53	%		-10.53	%					-17.76	%		-17.15	%		-17.14	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2015	$	191.90		$	195.77		$	248.56		$	147.87		$	150.86		$	201.89
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(3.06	)		(1.76	)		(2.23	)		(2.01	)		(1.01	)		(1.35	)
Net gain/(loss) on investments, net of non-controlling interests		(22.99	)		(23.55	)		(29.90	)		(19.76	)		(20.24	)		(27.09	)
Net income/(loss)		(26.05	)		(25.31	)		(32.13	)		(21.77	)		(21.25	)		(28.44	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-6.83	%		-3.82	%		-3.82	%		-5.88	%		-2.88	%		-2.88	%
Expenses before incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Expenses after incentive fees (4)		6.83	%		3.82	%		3.82	%		5.88	%		2.88	%		2.88	%
Total return before incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%
Total return after incentive fees (2)		-13.57	%		-12.93	%		-12.93	%		-14.72	%		-14.09	%		-14.09	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

	Equinox Frontier Diversified Fund									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2014	$	113.09		$	124.67		$	115.03		$	116.61		$	128.53		$	119.06		$	138.30		$	138.34		$	101.12		$	111.35		$	111.77
Net operating results:
Interest income		0.66			0.73			0.68			0.67			0.74			0.68			0.79			0.79			0.58			0.64			0.64
Expenses		(7.34	)		(6.43	)		(5.94	)		(7.24	)		(6.53	)		(6.03	)		(5.86	)		(5.86	)		(5.42	)		(4.71	)		(4.73	)
Net gain/(loss) on investments, net of non-controlling interests		9.13			9.51			8.93			(0.03	)		(0.42	)		(0.26	)		14.93			14.93			10.90			11.76			11.96
Net income/(loss)		2.46			3.82			3.67			(6.60	)		(6.21	)		(5.61	)		9.86			9.86			6.05			7.68			7.87
Net asset value, June 30, 2015	$	115.55		$	128.49		$	118.70		$	110.01		$	122.32		$	113.45		$	148.16		$	148.20		$	107.17		$	119.03		$	119.64
Ratios to average net assets (3)
Net investment income/(loss)		-8.11	%		-5.63	%		-5.63	%		-8.60	%		-6.39	%		-6.39	%		-5.01	%		-5.01	%		-7.10	%		-5.01	%		-4.94	%
Expenses before incentive fees (4)		6.49	%		4.01	%		4.01	%		7.45	%		5.24	%		5.24	%		4.45	%		4.45	%		6.54	%		4.45	%		4.31	%
Expenses after incentive fees (4)		9.18	%		6.70	%		6.70	%		9.71	%		7.49	%		7.49	%		6.04	%		6.04	%		8.13	%		6.04	%		5.97	%
Total return before incentive fees (2)		4.86	%		5.75	%		5.88	%		-3.40	%		-2.57	%		-2.45	%		8.72	%		8.72	%		7.57	%		8.49	%		8.70	%
Total return after incentive fees (2)		2.18	%		3.06	%		3.19	%		-5.66	%		-4.83	%		-4.71	%		7.13	%		7.13	%		5.98	%		6.90	%		7.04	%
	Equinox Frontier Balanced Fund																		Equinox Frontier Select Fund
	Class 1			Class 1AP			Class 2			Class 2a			Class 3a						Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	131.54		$	133.20		$	179.16		$	153.02		$	152.52					$	95.61		$	96.82		$	128.48
Net operating results:
Interest income		0.02			0.02			0.03			0.02			0.02						0.00			0.00			0.00
Expenses		(5.40	)		(3.35	)		(4.51	)		(3.86	)		(3.84	)					(3.89	)		(2.44	)		(3.24	)
Net gain/(loss) on investments, net of non-controlling interests		5.66			5.62			7.56			7.17			7.15						(4.41	)		(4.64	)		(6.15	)
Net income/(loss)		0.28			2.29			3.08			3.34			3.33						(8.30	)		(7.08	)		(9.39	)
Net asset value, June 30, 2015	$	131.82		$	135.49		$	182.24		$	156.36		$	155.85					$	87.31		$	89.74		$	119.09
Ratios to average net assets (3)
Net investment income/(loss)		-6.18	%		-3.17	%		-3.17	%		-3.17	%		-3.17	%					-6.80	%		-3.80	%		-3.80	%
Expenses before incentive fees (4)		4.78	%		1.77	%		1.77	%		1.77	%		1.77	%					5.79	%		2.79	%		2.79	%
Expenses after incentive fees (4)		6.21	%		3.20	%		3.20	%		3.20	%		3.20	%					6.80	%		3.80	%		3.80	%
Total return before incentive fees (2)		1.65	%		3.15	%		3.15	%		3.62	%		3.62	%					-7.67	%		-6.30	%		-6.29	%
Total return after incentive fees (2)		0.21	%		1.72	%		1.72	%		2.18	%		2.18	%					-8.68	%		-7.31	%		-7.31	%
	Equinox Frontier Winton Fund									Equinox Frontier Heritage Fund
	Class 1			Class 1AP			Class 2			Class 1			Class 1AP			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2014	$	175.95		$	178.18		$	226.23		$	130.28		$	131.93		$	176.56
Net operating results:
Interest income		0.00			0.00			0.00			0.00			0.00			0.00
Expenses		(9.39	)		(6.81	)		(8.65	)		(5.46	)		(3.45	)		(4.62	)
Net gain/(loss) on investments, net of non-controlling interests		(0.71	)		(0.91	)		(1.15	)		1.28			1.13			1.51
Net income/(loss)		(10.10	)		(7.72	)		(9.80	)		(4.18	)		(2.32	)		(3.11	)
Net asset value, June 30, 2015	$	165.85		$	170.46		$	216.43		$	126.10		$	129.61		$	173.45
Ratios to average net assets (3)
Net investment income/(loss)		-8.62	%		-5.62	%		-5.62	%		-6.94	%		-3.93	%		-3.93	%
Expenses before incentive fees (4)		6.87	%		3.86	%		3.86	%		5.96	%		2.96	%		2.96	%
Expenses after incentive fees (4)		8.62	%		5.62	%		5.62	%		6.94	%		3.93	%		3.93	%
Total return before incentive fees (2)		-3.99	%		-2.58	%		-2.58	%		-2.23	%		-0.78	%		-0.79	%
Total return after incentive fees (2)		-5.74	%		-4.33	%		-4.33	%		-3.21	%		-1.76	%		-1.76	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, March 31, 2014	$	82.77		$	90.05		$	82.92		$	87.30		$	94.96		$	87.80		$	111.48		$	111.51		$	82.42		$	89.56		$	89.74
Net operating results:
Interest income		0.22			0.24			0.22			0.25			0.28			0.26			0.32			0.32			0.24			0.26			0.26
Expenses		(2.93	)		(2.66	)		(2.46	)		(2.42	)		(2.12	)		(1.97	)		(1.95	)		(1.95	)		(1.87	)		(1.57	)		(1.57	)
Net gain/(loss) on investments, net of non-controlling interests		6.71			7.18			6.69			7.84			8.45			7.88			2.32			2.32			1.97			2.07			2.13
Net income/(loss)		4.00			4.76			4.45			5.67			6.61			6.17			0.69			0.69			0.34			0.76			0.82
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-7.61	%		-5.26	%		-5.26	%		-7.78	%		-5.61	%		-5.61	%		-5.80	%		-5.80	%		-7.89	%		-5.80	%		-5.80	%
Expenses before incentive fees (4)		6.82	%		4.47	%		4.47	%		8.26	%		6.09	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Expenses after incentive fees (4)		8.65	%		6.31	%		4.47	%		8.93	%		6.77	%		6.09	%		6.96	%		6.96	%		9.04	%		6.96	%		6.96	%
Total return before incentive fees (2)		6.67	%		7.12	%		5.37	%		7.17	%		7.64	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%
Total return after incentive fees (2)		4.83	%		5.29	%		5.37	%		6.49	%		6.96	%		7.03	%		0.62	%		0.62	%		0.41	%		0.85	%		0.91	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	101.99		$	135.81		$	115.17		$	114.80		$	75.01		$	98.55
Net operating results:
Interest income		0.01			0.01			0.01			0.01			0.00			0.00
Expenses		(2.27	)		(2.02	)		(1.72	)		(1.71	)		(1.58	)		(1.34	)
Net gain/(loss) on investments, net of non-controlling interests		4.13			5.55			5.02			4.99			4.80			6.35
Net income/(loss)		1.87			3.54			3.31			3.29			3.22			5.01
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-5.91	%		-2.91	%		-2.91	%		-2.91	%		-7.82	%		-4.81	%
Expenses before incentive fees (4)		4.94	%		1.93	%		1.93	%		1.93	%		7.63	%		4.63	%
Expenses after incentive fees (4)		5.94	%		2.94	%		2.94	%		2.94	%		7.82	%		4.81	%
Total return before incentive fees (2)		2.84	%		3.61	%		3.88	%		3.87	%		4.48	%		5.27	%
Total return after incentive fees (2)		1.83	%		2.61	%		2.87	%		2.87	%		4.29	%		5.08	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, March 31, 2014	$	136.93		$	172.12		$	95.41		$	126.41
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(4.21	)		(3.98	)		(2.38	)		(2.19	)
Net gain/(loss) on investments, net of non-controlling interests		12.35			15.58			9.55			12.71
Net income/(loss)		8.14			11.60			7.17			10.52
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.34	%		-5.34	%		-7.41	%		-4.41	%
Expenses before incentive fees (4)		7.13	%		4.12	%		6.65	%		3.64	%
Expenses after incentive fees (4)		8.34	%		5.34	%		7.41	%		4.41	%
Total return before incentive fees (2)		7.16	%		7.95	%		8.28	%		9.09	%
Total return after incentive fees (2)		5.94	%		6.74	%		7.51	%		8.32	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

	Equinox Frontier Diversified Fund (5)									Equinox Frontier Masters Fund									Equinox Frontier Long/Short Commodity Fund
	Class 1			Class 2			Class 3			Class 1			Class 2			Class 3			Class 2			Class 3			Class 1a			Class 2a			Class 3a
Per unit operating performance (1)
Net asset value, December 31, 2013	$	87.10		$	94.35		$	84.21		$	91.83		$	99.46		$	91.91		$	125.26		$	125.30		$	92.73		$	100.34		$	100.47
Net operating results:
Interest income		0.45			0.49			0.45			0.53			0.58			0.54			0.71			0.71			0.52			0.57			0.57
Expenses		(4.84	)		(4.22	)		(3.88	)		(4.17	)		(3.53	)		(3.30	)		(4.01	)		(3.97	)		(3.82	)		(3.20	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		4.06			4.19			6.59			4.78			5.06			4.82			(9.79	)		(9.84	)		(6.67	)		(7.39	)		(7.30	)
Net income/(loss)		(0.33	)		0.46			3.16			1.14			2.11			2.06			(13.09	)		(13.10	)		(9.97	)		(10.02	)		(9.91	)
Net asset value, June 30, 2014	$	86.77		$	94.81		$	87.37		$	92.97		$	101.57		$	93.97		$	112.17		$	112.20		$	82.76		$	90.32		$	90.56
Ratios to average net assets (3)
Net investment income/(loss)		-8.08	%		-5.75	%		-5.75	%		-7.67	%		-5.53	%		-5.53	%		-5.71	%		-5.71	%		-7.79	%		-5.71	%		-5.71	%
Expenses before incentive fees (4)		6.67	%		4.35	%		22.48	%		8.23	%		6.10	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Expenses after incentive fees (4)		9.17	%		6.84	%		22.48	%		8.90	%		6.76	%		6.10	%		6.94	%		6.94	%		9.03	%		6.94	%		6.94	%
Total return before incentive fees (2)		2.12	%		2.98	%		3.75	%		1.90	%		2.78	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%
Total return after incentive fees (2)		-0.38	%		0.49	%		3.75	%		1.24	%		2.12	%		2.24	%		-10.45	%		-10.45	%		-10.75	%		-9.99	%		-9.86	%

	Equinox Frontier Balanced Fund												Equinox Frontier Select Fund
	Class 1			Class 2			Class 2a			Class 3a			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	106.29		$	140.49		$	118.80		$	118.41		$	79.86		$	104.14
Net operating results:
Interest income		0.02			0.02			0.02			0.02			0.00			0.00
Expenses		(4.05	)		(3.37	)		(2.86	)		(2.85	)		(2.93	)		(2.37	)
Net gain/(loss) on investments, net of non-controlling interests		1.60			2.21			2.52			2.51			1.30			1.79
Net income/(loss)		(2.43	)		(1.14	)		(0.32	)		(0.32	)		(1.63	)		(0.58	)
Net asset value, June 30, 2014	$	103.86		$	139.35		$	118.48		$	118.09		$	78.23		$	103.56
Ratios to average net assets (3)
Net investment income/(loss)		-6.41	%		-3.41	%		-3.41	%		-3.41	%		-7.62	%		-4.62	%
Expenses before incentive fees (4)		4.92	%		1.92	%		1.92	%		1.92	%		7.45	%		4.45	%
Expenses after incentive fees (4)		6.45	%		3.44	%		3.44	%		3.44	%		7.62	%		4.62	%
Total return before incentive fees (2)		-0.76	%		0.71	%		1.25	%		1.25	%		-1.87	%		-0.38	%
Total return after incentive fees (2)		-2.29	%		-0.81	%		-0.27	%		-0.27	%		-2.04	%		-0.56	%

	Equinox Frontier Winton Fund						Equinox Frontier Heritage Fund
	Class 1			Class 2			Class 1			Class 2
Per unit operating performance (1)
Net asset value, December 31, 2013	$	139.59		$	174.17		$	102.05		$	134.21
Net operating results:
Interest income		0.00			0.00			0.00			0.00
Expenses		(6.51	)		(5.60	)		(3.85	)		(3.18	)
Net gain/(loss) on investments, net of non-controlling interests		11.99			15.15			4.38			5.90
Net income/(loss)		5.48			9.55			0.53			2.72
Net asset value, June 30, 2014	$	145.07		$	183.72		$	102.58		$	136.93
Ratios to average net assets (3)
Net investment income/(loss)		-8.27	%		-5.27	%		-7.22	%		-4.22	%
Expenses before incentive fees (4)		7.06	%		4.06	%		6.49	%		3.49	%
Expenses after incentive fees (4)		8.27	%		5.27	%		7.22	%		4.22	%
Total return before incentive fees (2)		5.13	%		6.69	%		1.25	%		2.76	%
Total return after incentive fees (2)		3.93	%		5.48	%		0.52	%		2.03	%

(1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

(2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

(3) Annualized with the exception of incentive fees.

(4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

(5) Class 3 began operations on February 24, 2014.

Equinox Frontier Funds [Member]

Financial Highlights

6. Financial Highlights

The following information presents the financial highlights of the Trust for the three and six months ended June 30, 2015 and 2014. This data has been derived from the information presented in the consolidated financial statements.

Three months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-4.48	%		-6.06	%
Expenses before incentive fees (3)		4.85	%		5.45	%
Expenses after incentive fees (3)		4.89	%		6.49	%
Total return before incentive fees (2)		-13.25	%		4.84	%
Total return after incentive fees (2)		-13.28	%		3.81	%
Six months ended
	2015			2014
Ratios to average net assets (1)
Net investment gain/(loss) (1)		-6.37	%		-6.28	%
Expenses before incentive fees (3)		4.95	%		5.40	%
Expenses after incentive fees (3)		6.79	%		6.74	%
Total return before incentive fees (2)		1.27	%		-0.31	%
Total return after incentive fees (2)		-0.57	%		-1.65	%

(1) Annualized with the exception of incentive fees.

(2) Total returns are not annualized.

(3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5.

The Trust financial highlights are calculated based upon the Trust’s consolidated financial statements. The consolidated Trust does not issue units and therefore the financial highlights do not disclose any unitized data.

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Trading Activities and Related Risks

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Trading Activities and Related Risks

9. Trading Activities and Related Risks

The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited.

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time.

In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the United States and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company.

The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

Equinox Frontier Funds [Member]

Trading Activities and Related Risks

8. Trading Activities and Related Risks

The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited.

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time.

In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the United States and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company.

The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

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Investments in Unconsolidated Trading Companies - Equity in Earnings from Unconsolidated Trading Companies (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Frontier Trading Company I LLC [Member]
Investment [Line Items]
Net Income (Loss)		$ (4,517,305)		$ (4,517,305)
Frontier Trading Company II LLC [Member]
Investment [Line Items]
Net Income (Loss)	$ (4,388,194)	(5,897,275)	$ (191,078)	(5,698,270)
Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Net Income (Loss)	(4,822,846)	4,125,871	(5,413,258)	4,125,871
Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Net Income (Loss)		7,798		1,425,593
Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Net Income (Loss)	(1,445,375)	1,167,391	(1,830,357)	7,796,844
Equinox Frontier Diversified Fund [Member]
Investment [Line Items]
Trading Commissions	(118,589)	(255,625)	(231,843)	(582,800)
Realized Gain/(Loss)	(2,141,766)	1,576,944	3,047,711	1,919,359
Change in Unrealized Gain/(Loss)	848,512	2,042,401	(755,002)	(452,160)
Net Income (Loss)	(1,411,843)	3,363,720	2,060,866	884,399
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company I LLC [Member]
Investment [Line Items]
Trading Commissions		(77,867)		(148,260)
Realized Gain/(Loss)		950,477		2,095,105
Change in Unrealized Gain/(Loss)		1,028,045		421,786
Net Income (Loss)		1,900,655		2,368,631
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company II LLC [Member]
Investment [Line Items]
Trading Commissions	(4,246)	(4,241)	(8,329)	(8,992)
Realized Gain/(Loss)	(685,823)	865,388	647,469	1,132,028
Change in Unrealized Gain/(Loss)	(420,717)	(8,894)	(548,028)	(293,721)
Net Income (Loss)	(1,110,786)	852,253	91,112	829,315
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Trading Commissions	(85,942)	(96,234)	(168,323)	(248,337)
Realized Gain/(Loss)	(1,382,324)	(663,204)	726,185	(1,280,664)
Change in Unrealized Gain/(Loss)	1,810,489	608,781	587,363	370,672
Net Income (Loss)	342,223	(150,657)	1,145,225	(1,158,329)
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XIV, LLC [Member]
Investment [Line Items]
Trading Commissions		(41,516)		(101,125)
Realized Gain/(Loss)		249,214		(378,786)
Change in Unrealized Gain/(Loss)		263,796		323,498
Net Income (Loss)		471,494		(156,413)
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Trading Commissions		(12,052)		(27,763)
Realized Gain/(Loss)		(487,276)		172,591
Change in Unrealized Gain/(Loss)		155,923		(786,997)
Net Income (Loss)		(343,405)		(642,169)
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XXIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(17,919)	(11,949)	(37,701)	(24,150)
Realized Gain/(Loss)	(151,523)	789,665	721,086	1,073,089
Change in Unrealized Gain/(Loss)	(304,555)	92,152	(330,774)	187,658
Net Income (Loss)	(473,997)	869,868	352,611	1,236,597
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(10,482)		(17,490)	(24,173)
Realized Gain/(Loss)	77,904		952,971	(894,004)
Change in Unrealized Gain/(Loss)	(236,705)		(463,563)	(675,056)
Net Income (Loss)	(169,283)		471,918	(1,593,233)
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XXXIX, LLC [Member]
Investment [Line Items]
Trading Commissions		(11,766)
Realized Gain/(Loss)		(127,320)
Change in Unrealized Gain/(Loss)		(97,402)
Net Income (Loss)		(236,488)
Equinox Frontier Masters Fund [Member]
Investment [Line Items]
Trading Commissions	(79,190)	(78,293)	(138,363)	(183,293)
Realized Gain/(Loss)	(2,219,202)	1,304,845	4,630,248	801,017
Change in Unrealized Gain/(Loss)	(615,494)	617,789	(4,310,012)	(626,809)
Net Income (Loss)	(2,913,886)	1,844,351	181,873	(9,085)
Equinox Frontier Masters Fund [Member] | Frontier Trading Company I LLC [Member]
Investment [Line Items]
Trading Commissions	(6,561)	(8,994)	(10,535)	(14,650)
Realized Gain/(Loss)	(78,343)	441,002	1,180,694	84,485
Change in Unrealized Gain/(Loss)	(920,425)	166,625	(1,058,847)	656,689
Net Income (Loss)	(1,005,329)	598,633	111,312	726,524
Equinox Frontier Masters Fund [Member] | Frontier Trading Company II LLC [Member]
Investment [Line Items]
Trading Commissions	(2,613)	(3,095)	(4,942)	(6,805)
Realized Gain/(Loss)	(420,988)	627,805	331,851	841,881
Change in Unrealized Gain/(Loss)	(264,127)	(8,751)	(335,234)	(248,924)
Net Income (Loss)	(687,728)	615,959	(8,325)	586,152
Equinox Frontier Masters Fund [Member] | Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Trading Commissions	(50,573)
Realized Gain/(Loss)	(775,283)
Change in Unrealized Gain/(Loss)	1,063,371
Net Income (Loss)	237,515
Equinox Frontier Masters Fund [Member] | Frontier Trading Company XIV, LLC [Member]
Investment [Line Items]
Trading Commissions		(36,029)	(28,979)	(95,138)
Realized Gain/(Loss)		189,278	148,053	(433,918)
Change in Unrealized Gain/(Loss)		214,868	(801,924)	213,162
Net Income (Loss)		368,117	(682,850)	(315,894)
Equinox Frontier Masters Fund [Member] | Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Trading Commissions	(14,857)	(24,092)	(86,516)	(53,547)
Realized Gain/(Loss)	(979,930)	125,464	2,635,986	805,913
Change in Unrealized Gain/(Loss)	(372,004)	287,803	(1,948,507)	(875,590)
Net Income (Loss)	(1,366,791)	389,175	600,963	(123,224)
Equinox Frontier Masters Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(4,586)	(6,083)	(7,391)	(13,153)
Realized Gain/(Loss)	35,342	(78,704)	333,664	(497,344)
Change in Unrealized Gain/(Loss)	(122,309)	(42,756)	(165,500)	(372,146)
Net Income (Loss)	(91,553)	(127,533)	160,773	(882,643)
Equinox Frontier Long/Short Commodity Fund [Member]
Investment [Line Items]
Trading Commissions	(66,500)	(88,266)	(153,236)	(93,209)
Realized Gain/(Loss)	(1,431,010)	(537,985)	1,582,694	(831,145)
Change in Unrealized Gain/(Loss)	985,206	159,537	(7,237)	(88,006)
Net Income (Loss)	(512,304)	(466,714)	1,422,221	(1,012,360)
Equinox Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Trading Commissions	(63,635)	(79,249)	(148,403)	(84,192)
Realized Gain/(Loss)	(1,450,691)	(199,250)	1,306,637	(492,410)
Change in Unrealized Gain/(Loss)	1,054,760	450,592	125,916	202,711
Net Income (Loss)	(459,566)	172,093	1,284,150	(373,891)
Equinox Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XVIII, LLC [Member]
Investment [Line Items]
Trading Commissions		(9,017)
Realized Gain/(Loss)		(338,735)
Change in Unrealized Gain/(Loss)		(291,055)
Net Income (Loss)		(638,807)
Equinox Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(2,865)		(4,833)	(9,017)
Realized Gain/(Loss)	19,681		276,057	(338,735)
Change in Unrealized Gain/(Loss)	(69,554)		(133,153)	(290,717)
Net Income (Loss)	(52,738)		138,071	(638,469)
Equinox Frontier Balanced Fund [Member]
Investment [Line Items]
Trading Commissions	(204,154)	(1,083,802)	(400,857)	(433,151)
Realized Gain/(Loss)	(1,989,930)	998,348	5,558,996	(3,362,437)
Change in Unrealized Gain/(Loss)	1,339,848	283,243	(489,926)	(88,847)
Net Income (Loss)	(854,236)	197,789	4,668,213	(3,884,435)
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company I LLC [Member]
Investment [Line Items]
Trading Commissions	(83,797)	(263,573)	(173,656)	(21,190)
Realized Gain/(Loss)	975,639	1,115,464	3,024,584	(40,139)
Change in Unrealized Gain/(Loss)	(208,851)	(362,505)	28,819	887,729
Net Income (Loss)	682,991	489,386	2,879,747	826,400
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company II LLC [Member]
Investment [Line Items]
Trading Commissions	(5,791)	(12,088)	(10,988)	(12,125)
Realized Gain/(Loss)	(937,794)	(686,492)	749,066	1,514,527
Change in Unrealized Gain/(Loss)	(560,595)	1,317,845	(720,413)	(547,779)
Net Income (Loss)	(1,504,180)	619,265	17,665	954,623
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company VII, LLC [Member]
Investment [Line Items]
Trading Commissions	(97,027)	36,410	(189,079)	(237,492)
Realized Gain/(Loss)	(1,669,662)	685,775	646,642	(1,772,506)
Change in Unrealized Gain/(Loss)	2,061,923	(1,108,643)	714,340	684,757
Net Income (Loss)	295,234	(386,458)	1,171,903	(1,325,241)
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company XIV, LLC [Member]
Investment [Line Items]
Trading Commissions		(23,141)		(75,543)
Realized Gain/(Loss)		99,184		(1,180,680)
Change in Unrealized Gain/(Loss)		(416,179)		610,861
Net Income (Loss)		(340,136)		(645,362)
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Trading Commissions	(231)	22,806	(124)	(44,315)
Realized Gain/(Loss)	(492,925)	(867,989)	(217,025)	(299,183)
Change in Unrealized Gain/(Loss)	493,274	1,231,415	217,318	(581,076)
Net Income (Loss)	118	386,232	169	(924,574)
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(17,308)	(768,673)	(27,010)	(42,486)
Realized Gain/(Loss)	134,812	1,833,086	1,355,729	(1,584,456)
Change in Unrealized Gain/(Loss)	(445,903)	(991,089)	(729,990)	(1,141,801)
Net Income (Loss)	(328,399)	73,324	598,729	(2,768,743)
Equinox Frontier Balanced Fund [Member] | Frontier Trading Company XXXIX, LLC [Member]
Investment [Line Items]
Trading Commissions		(75,543)
Realized Gain/(Loss)		(1,180,680)
Change in Unrealized Gain/(Loss)		612,399		(1,538)
Net Income (Loss)		(643,824)		(1,538)
Equinox Frontier Select Fund [Member]
Investment [Line Items]
Trading Commissions	(2,577)	(36,202)	(1,797)	(68,716)
Realized Gain/(Loss)	7,618	72,643	64,112	591,728
Change in Unrealized Gain/(Loss)	(863,332)	732,485	113,421	(851,513)
Net Income (Loss)	(856,713)	768,926	175,736	(328,501)
Equinox Frontier Select Fund [Member] | Frontier Trading Company XV, LLC [Member]
Investment [Line Items]
Trading Commissions		(31,676)		(60,926)
Realized Gain/(Loss)		106,074	(195)	819,051
Change in Unrealized Gain/(Loss)	(2)	415,981	2,173	(483,409)
Net Income (Loss)	(2)	490,379	1,978	274,716
Equinox Frontier Select Fund [Member] | Frontier Trading Company XXI, LLC [Member]
Investment [Line Items]
Change in Unrealized Gain/(Loss)	(967,125)
Net Income (Loss)	(967,125)
Equinox Frontier Select Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(2,577)	(2,970)	(1,797)	(6,234)
Realized Gain/(Loss)	7,618	(33,431)	64,307	(227,323)
Change in Unrealized Gain/(Loss)	(23,723)	(15,011)	(16,288)	(163,164)
Net Income (Loss)	(17,104)	(51,412)	46,222	(396,721)
Equinox Frontier Select Fund [Member] | Frontier Trading Company XXXIX, LLC [Member]
Investment [Line Items]
Trading Commissions		(1,556)		(1,556)
Change in Unrealized Gain/(Loss)	127,518	331,515	127,536	(204,940)
Net Income (Loss)	127,518	329,959	127,536	(206,496)
Equinox Frontier Winton Fund [Member]
Investment [Line Items]
Trading Commissions	(24,510)	(23,444)	(43,669)	(46,933)
Realized Gain/(Loss)	(2,346,023)	2,681,301	2,637,993	2,993,464
Change in Unrealized Gain/(Loss)	(1,690,711)	(104,784)	(2,212,335)	(1,385,715)
Net Income (Loss)	(4,061,244)	2,553,073	381,989	1,560,816
Equinox Frontier Winton Fund [Member] | Frontier Trading Company II LLC [Member]
Investment [Line Items]
Trading Commissions	(14,911)	(13,657)	(28,184)	(27,607)
Realized Gain/(Loss)	(2,419,574)	2,787,074	1,889,892	3,664,132
Change in Unrealized Gain/(Loss)	(1,407,788)	(31,073)	(1,817,483)	(917,278)
Net Income (Loss)	(3,842,273)	2,742,344	44,225	2,719,247
Equinox Frontier Winton Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(9,599)	(9,787)	(15,485)	(19,326)
Realized Gain/(Loss)	73,551	(105,773)	748,101	(670,668)
Change in Unrealized Gain/(Loss)	(282,923)	(73,711)	(394,852)	(468,437)
Net Income (Loss)	(218,971)	(189,271)	337,764	(1,158,431)
Equinox Frontier Heritage Fund [Member]
Investment [Line Items]
Trading Commissions	(4,848)	(5,696)	(8,676)	(11,626)
Realized Gain/(Loss)	(419,134)	591,742	548,259	621,012
Change in Unrealized Gain/(Loss)	(315,071)	(28,416)	(417,236)	(355,228)
Net Income (Loss)	(739,054)	557,360	122,347	254,158
Equinox Frontier Heritage Fund [Member] | Frontier Trading Company II LLC [Member]
Investment [Line Items]
Trading Commissions	(2,685)	(3,057)	(5,187)	(6,182)
Realized Gain/(Loss)	(435,646)	623,800	380,897	820,288
Change in Unrealized Gain/(Loss)	(252,853)	(6,880)	(330,929)	(205,585)
Net Income (Loss)	(691,184)	613,593	44,781	608,521
Equinox Frontier Heritage Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member]
Investment [Line Items]
Trading Commissions	(2,163)	(2,639)	(3,489)	(5,444)
Realized Gain/(Loss)	16,512	(32,058)	167,362	(199,276)
Change in Unrealized Gain/(Loss)	(62,218)	(21,536)	(86,307)	(149,643)
Net Income (Loss)	$ (47,870)	$ (56,233)	$ 77,566	$ (354,363)

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Swaps (Tables)

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Trust, with Respect to Series, has Invested in Following Swap

The Series had invested in the following Swaps as of and for the six months ended June 30, 2015:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap			Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG			DeutscheBank AG
Notional Amount	$	62,910,098	$	30,500,000	$	10,090,513		$	15,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018			3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	3,880,000		$	5,993,000
Swap Value	$	8,891,634	$	4,215,169	$	424,209		$	1,816,251
Investee Returns		Total Returns		Total Returns		Total Returns			Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0		$	0
Change in Unrealized Gain/(Loss)	$	244,680	$	1,044,760	($	328,851	)	$	268,786
Fair Value as of 6/30/2015	$	18,491,634	$	7,615,169	$	4,304,209		$	7,809,251

The Series had invested in the following Swaps as of and for the year ended December 31, 2014:

	Equinox Frontier Balanced Fund		Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Heritage Fund
	Total Return Swap		Total Return Swap		Total Return Swap		Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	67,610,098	$	35,500,000	$	13,590,513	$	17,663,283
Termination Date		8/2/2018		8/2/2018		8/7/2018		3/26/2018
Cash Collateral	$	9,600,000	$	3,400,000	$	2,880,000	$	5,993,000
Swap Value	$	8,646,954	$	3,170,408	$	753,060	$	1,547,465
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	8,120,996	$	3,132,777	$	1,176,514	$	2,105,281
Fair Value as of 12/31/2014	$	18,246,955	$	6,570,409	$	3,633,060	$	7,540,466

Equinox Frontier Funds [Member]

Trust, with Respect to Series, has Invested in Following Swap

The Trust had invested in the following swaps as of and for the six months ended June 30, 2015:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	15,663,283	$	62,910,098	$	30,500,000	$	10,090,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,816,251	$	8,891,634	$	4,215,169	$	424,209
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Change in Unrealized Gain/(Loss)	$	268,786	$	244,680	$	1,044,760	($	328,851	)
Fair Value as of 6/30/2015	$	7,809,251	$	18,491,634	$	7,615,169	$	4,304,209

The Trust had invested in the following swaps as of and for the year ended December 31, 2014:

	Brevan Howard Total Return Swap		XXXIV Balanced Select Swap Total Return Swap		XXXV Diversified Select Swap Total Return Swap		XXXVII L/S Select Swap Total Return Swap
Counterparty		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG		DeutscheBank AG
Notional Amount	$	17,663,283	$	67,610,098	$	35,500,000	$	13,590,513
Termination Date		3/26/2018		8/2/2018		8/2/2018		8/7/2018
Cash Collateral	$	5,993,000	$	9,600,000	$	3,400,000	$	3,880,000
Swap Value	$	1,547,466	$	8,646,955	$	3,170,409	($	246,940	)
Investee Returns		Total Returns		Total Returns		Total Returns		Total Returns
Realized Gain/(Loss)	$	0	$	0	$	0	$	0
Unrealized Gain/(Loss)	$	2,105,281	$	8,120,996	$	3,132,777	$	1,176,514
Fair Value as of 12/31/2014	$	7,540,466	$	18,246,955	$	6,570,409	$	3,633,060

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Organization and Purpose - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Jan. 31, 2015	Jun. 30, 2015
Organization [Line Items]
Net increase from payments by Managing owner		$ 1,211,610
The Series of Equinox Frontier Funds [Member]
Organization [Line Items]
Managing owner contributions to the series of the trust		1.00%
The Series of Equinox Frontier Funds [Member] | Emil Van Essen Trading [Member]
Organization [Line Items]
Net increase from payments by Managing owner	$ 1,211,610
The Series of Equinox Frontier Funds [Member] | Class 1 or Class 1a [Member]
Organization [Line Items]
Percentage of NAV charged as a service fees		3.00%
Amortized monthly annual rate		3.00%
Redemption fee		3.00%
The Series of Equinox Frontier Funds [Member] | Class 2 or Class 2a [Member]
Organization [Line Items]
Service fee		0.50%
Service fee charged to limited owners		0.25%
The Series of Equinox Frontier Funds [Member] | Minimum [Member]
Organization [Line Items]
Assets normally invested in one or more trading companies		10.00%
The Series of Equinox Frontier Funds [Member] | Maximum [Member]
Organization [Line Items]
Assets normally invested in one or more trading companies		30.00%
Equinox Frontier Winton Fund [Member]
Organization [Line Items]
Percentage of invested assets manages by trading company		100.00%
Equinox Frontier Funds [Member]
Organization [Line Items]
Managing owner contributions to the series of the trust		1.00%
Equinox Frontier Funds [Member] | Class 1 or Class 1a [Member]
Organization [Line Items]
Percentage of NAV charged as a service fees		3.00%
Amortized monthly annual rate		3.00%
Redemption fee		3.00%
Equinox Frontier Funds [Member] | Class 2 or Class 2a [Member]
Organization [Line Items]
Service fee		0.50%
Service fee charged to limited owners		0.25%
Equinox Frontier Funds [Member] | Minimum [Member]
Organization [Line Items]
Assets normally invested in one or more trading companies		10.00%
Equinox Frontier Funds [Member] | Maximum [Member]
Organization [Line Items]
Assets normally invested in one or more trading companies		30.00%

XML

Financial Highlights - Financial Highlights of Trust (Detail) - $ / shares		3 Months Ended				6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Financial Highlights [Line Items]
Net investment gain/(loss)	[1]	(4.48%)		(6.06%)		(6.37%)		(6.28%)
Expenses before incentive fees	[2]	4.85%		5.45%		4.95%		5.40%
Expenses after incentive fees	[2]	4.89%		6.49%		6.79%		6.74%
Total return before incentive fees	[3]	(13.25%)		4.84%		1.27%		(0.31%)
Total return after incentive fees	[3]	(13.28%)		3.81%		(0.57%)		(1.65%)
Equinox Frontier Diversified Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 131.66		$ 82.77		$ 113.09		$ 87.10
Interest income	[4]	0.32		0.22		0.66		0.45
Expenses	[4]	(2.02)		(2.93)		(7.34)		(4.84)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(14.41)		6.71		9.13		4.06
Net income/(loss)	[4]	(16.11)		4.00		2.46		(0.33)
Net asset value per unit, Ending balance	[4]	$ 115.55		$ 86.77		$ 115.55		$ 86.77
Net investment gain/(loss)		(5.46%)	[1]	(7.61%)	[1]	(8.11%)	[1]	(8.08%)	[5]
Expenses before incentive fees	[6]	6.50%		6.82%		6.49%		6.67%
Expenses after incentive fees	[6]	6.51%		8.65%		9.18%		9.17%
Total return before incentive fees		(12.23%)	[7]	6.67%	[7]	4.86%	[7]	2.12%	[5]
Total return after incentive fees		(12.24%)	[7]	4.83%	[7]	2.18%	[7]	(0.38%)	[5]
Equinox Frontier Diversified Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 145.76		$ 90.05		$ 124.67		$ 94.35
Interest income	[4]	0.36		0.24		0.73		0.49
Expenses	[4]	(1.39)		(2.66)		(6.43)		(4.22)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(16.24)		7.18		9.51		4.19
Net income/(loss)	[4]	(17.27)		4.76		3.82		0.46
Net asset value per unit, Ending balance	[4]	$ 128.49		$ 94.81		$ 128.49		$ 94.81
Net investment gain/(loss)		(2.97%)	[1]	(5.26%)	[1]	(5.63%)	[1]	(5.75%)	[5]
Expenses before incentive fees	[6]	4.01%		4.47%		4.01%		4.35%
Expenses after incentive fees	[6]	4.02%		6.31%		6.70%		6.84%
Total return before incentive fees		(11.84%)	[7]	7.12%	[7]	5.75%	[7]	2.98%	[5]
Total return after incentive fees		(11.85%)	[7]	5.29%	[7]	3.06%	[7]	0.49%	[5]
Equinox Frontier Diversified Fund [Member] | Class 3 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 134.57		$ 82.92		$ 115.03		$ 84.21
Interest income	[4]	0.33		0.22		0.68		0.45
Expenses	[4]	(1.28)		(2.46)		(5.94)		(3.88)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(14.92)		6.69		8.93		6.59
Net income/(loss)	[4]	(15.87)		4.45		3.67		3.16
Net asset value per unit, Ending balance	[4]	$ 118.70		$ 87.37		$ 118.70		$ 87.37
Net investment gain/(loss)		(2.97%)	[1]	(5.26%)	[1]	(5.63%)	[1]	(5.75%)	[5]
Expenses before incentive fees	[6]	4.01%		4.47%		4.01%		22.48%
Expenses after incentive fees	[6]	4.02%		4.47%		6.70%		22.48%
Total return before incentive fees		(11.79%)	[7]	5.37%	[7]	5.88%	[7]	3.75%	[5]
Total return after incentive fees		(11.79%)	[7]	5.37%	[7]	3.19%	[7]	3.75%	[5]
Equinox Frontier Masters Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 128.38		$ 87.30		$ 116.61		$ 91.83
Interest income	[4]	0.33		0.25		0.67		0.53
Expenses	[4]	(2.44)		(2.42)		(7.24)		(4.17)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(16.26)		7.84		(0.03)		4.78
Net income/(loss)	[4]	(18.37)		5.67		(6.60)		1.14
Net asset value per unit, Ending balance	[4]	$ 110.01		$ 92.97		$ 110.01		$ 92.97
Net investment gain/(loss)		(6.56%)	[1]	(7.78%)	[1]	(8.60%)	[1]	(7.67%)	[5]
Expenses before incentive fees	[6]	7.50%		8.26%		7.45%		8.23%
Expenses after incentive fees	[6]	7.67%		8.93%		9.71%		8.90%
Total return before incentive fees		(14.14%)	[7]	7.17%	[7]	(3.40%)	[7]	1.90%	[5]
Total return after incentive fees		(14.31%)	[7]	6.49%	[7]	(5.66%)	[7]	1.24%	[5]
Equinox Frontier Masters Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 142.12		$ 94.96		$ 128.53		$ 99.46
Interest income	[4]	0.36		0.28		0.74		0.58
Expenses	[4]	(1.97)		(2.12)		(6.53)		(3.53)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(18.19)		8.45		(0.42)		5.06
Net income/(loss)	[4]	(19.80)		6.61		(6.21)		2.11
Net asset value per unit, Ending balance	[4]	$ 122.32		$ 101.57		$ 122.32		$ 101.57
Net investment gain/(loss)		(4.36%)	[1]	(5.61%)	[1]	(6.39%)	[1]	(5.53%)	[5]
Expenses before incentive fees	[6]	5.30%		6.09%		5.24%		6.10%
Expenses after incentive fees	[6]	5.46%		6.77%		7.49%		6.76%
Total return before incentive fees		(13.77%)	[7]	7.64%	[7]	(2.57%)	[7]	2.78%	[5]
Total return after incentive fees		(13.93%)	[7]	6.96%	[7]	(4.83%)	[7]	2.12%	[5]
Equinox Frontier Masters Fund [Member] | Class 3 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 131.73		$ 87.80		$ 119.06		$ 91.91
Interest income	[4]	0.34		0.26		0.68		0.54
Expenses	[4]	(1.82)		(1.97)		(6.03)		(3.30)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(16.80)		7.88		(0.26)		4.82
Net income/(loss)	[4]	(18.28)		6.17		(5.61)		2.06
Net asset value per unit, Ending balance	[4]	$ 113.45		$ 93.97		$ 113.45		$ 93.97
Net investment gain/(loss)		(4.36%)	[1]	(5.61%)	[1]	(6.39%)	[1]	(5.53%)	[5]
Expenses before incentive fees	[6]	5.30%		6.09%		5.24%		6.10%
Expenses after incentive fees	[6]	5.46%		6.09%		7.49%		6.10%
Total return before incentive fees		(13.71%)	[7]	7.03%	[7]	(2.45%)	[7]	2.24%	[5]
Total return after incentive fees		(13.88%)	[7]	7.03%	[7]	(4.71%)	[7]	2.24%	[5]
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 166.20		$ 111.48		$ 138.30		$ 125.26
Interest income	[4]	0.39		0.32		0.79		0.71
Expenses	[4]	(2.12)		(1.95)		(5.86)		(4.01)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(16.31)		2.32		14.93		(9.79)
Net income/(loss)	[4]	(18.04)		0.69		9.86		(13.09)
Net asset value per unit, Ending balance	[4]	$ 148.16		$ 112.17		$ 148.16		$ 112.17
Net investment gain/(loss)		(3.82%)	[1]	(5.80%)	[1]	(5.01%)	[1]	(5.71%)	[5]
Expenses before incentive fees	[6]	4.59%		6.96%		4.45%		6.94%
Expenses after incentive fees	[6]	4.83%		6.96%		6.04%		6.94%
Total return before incentive fees		(10.62%)	[7]	0.62%	[7]	8.72%	[7]	(10.45%)	[5]
Total return after incentive fees		(10.85%)	[7]	0.62%	[7]	7.13%	[7]	(10.45%)	[5]
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 166.06		$ 111.51		$ 138.34		$ 125.30
Interest income	[4]	0.39		0.32		0.79		0.71
Expenses	[4]	(2.12)		(1.95)		(5.86)		(3.97)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(16.13)		2.32		14.93		(9.84)
Net income/(loss)	[4]	(17.86)		0.69		9.86		(13.10)
Net asset value per unit, Ending balance	[4]	$ 148.20		$ 112.20		$ 148.20		$ 112.20
Net investment gain/(loss)		(3.82%)	[1]	(5.80%)	[1]	(5.01%)	[1]	(5.71%)	[5]
Expenses before incentive fees	[6]	4.59%		6.96%		4.45%		6.94%
Expenses after incentive fees	[6]	4.83%		6.96%		6.04%		6.94%
Total return before incentive fees		(10.52%)	[7]	0.62%	[7]	8.72%	[7]	(10.45%)	[5]
Total return after incentive fees		(10.76%)	[7]	0.62%	[7]	7.13%	[7]	(10.45%)	[5]
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1a [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 120.70		$ 82.42		$ 101.12		$ 92.73
Interest income	[4]	0.28		0.24		0.58		0.52
Expenses	[4]	(2.11)		(1.87)		(5.42)		(3.82)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(11.70)		1.97		10.90		(6.67)
Net income/(loss)	[4]	(13.53)		0.34		6.05		(9.97)
Net asset value per unit, Ending balance	[4]	$ 107.17		$ 82.76		$ 107.17		$ 82.76
Net investment gain/(loss)		(5.89%)	[1]	(7.89%)	[1]	(7.10%)	[1]	(7.79%)	[5]
Expenses before incentive fees	[6]	6.67%		9.04%		6.54%		9.03%
Expenses after incentive fees	[6]	6.90%		9.04%		8.13%		9.03%
Total return before incentive fees		(10.98%)	[7]	0.41%	[7]	7.57%	[7]	(10.75%)	[5]
Total return after incentive fees		(11.21%)	[7]	0.41%	[7]	5.98%	[7]	(10.75%)	[5]
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2a [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 133.49		$ 89.56		$ 111.35		$ 100.34
Interest income	[4]	0.31		0.26		0.64		0.57
Expenses	[4]	(1.70)		(1.57)		(4.71)		(3.20)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(13.07)		2.07		11.76		(7.39)
Net income/(loss)	[4]	(14.46)		0.76		7.68		(10.02)
Net asset value per unit, Ending balance	[4]	$ 119.03		$ 90.32		$ 119.03		$ 90.32
Net investment gain/(loss)		(3.82%)	[1]	(5.80%)	[1]	(5.01%)	[1]	(5.71%)	[5]
Expenses before incentive fees	[6]	4.59%		6.96%		4.45%		6.94%
Expenses after incentive fees	[6]	4.83%		6.96%		6.04%		6.94%
Total return before incentive fees		(10.60%)	[7]	0.85%	[7]	8.49%	[7]	(9.99%)	[5]
Total return after incentive fees		(10.83%)	[7]	0.85%	[7]	6.90%	[7]	(9.99%)	[5]
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3a [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 134.09		$ 89.74		$ 111.77		$ 100.47
Interest income	[4]	0.31		0.26		0.64		0.57
Expenses	[4]	(1.71)		(1.57)		(4.73)		(3.18)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(13.05)		2.13		11.96		(7.30)
Net income/(loss)	[4]	(14.45)		0.82		7.87		(9.91)
Net asset value per unit, Ending balance	[4]	$ 119.64		$ 90.56		$ 119.64		$ 90.56
Net investment gain/(loss)		(3.79%)	[1]	(5.80%)	[1]	(4.94%)	[1]	(5.71%)	[5]
Expenses before incentive fees	[6]	4.55%		6.96%		4.31%		6.94%
Expenses after incentive fees	[6]	4.80%		6.96%		5.97%		6.94%
Total return before incentive fees		(10.53%)	[7]	0.91%	[7]	8.70%	[7]	(9.86%)	[5]
Total return after incentive fees		(10.78%)	[7]	0.91%	[7]	7.04%	[7]	(9.86%)	[5]
Equinox Frontier Balanced Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 148.80		$ 101.99		$ 131.54		$ 106.29
Interest income	[4]	0.01		0.01		0.02		0.02
Expenses	[4]	(1.71)		(2.27)		(5.40)		(4.05)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(15.28)		4.13		5.66		1.60
Net income/(loss)	[4]	(16.98)		1.87		0.28		(2.43)
Net asset value per unit, Ending balance	[4]	$ 131.82		$ 103.86		$ 131.82		$ 103.86
Net investment gain/(loss)	[1]	(4.76%)		(5.91%)		(6.18%)		(6.41%)
Expenses before incentive fees	[6]	4.78%		4.94%		4.78%		4.92%
Expenses after incentive fees	[6]	4.79%		5.94%		6.21%		6.45%
Total return before incentive fees		(11.40%)	[7]	2.84%	[7]	1.65%	[7]	(0.76%)	[5]
Total return after incentive fees		(11.41%)	[7]	1.83%	[7]	0.21%	[7]	(2.29%)	[5]
Equinox Frontier Balanced Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 204.17		$ 135.81		$ 179.16		$ 140.49
Interest income	[4]	0.02		0.01		0.03		0.02
Expenses	[4]	(0.89)		(2.02)		(4.51)		(3.37)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(21.06)		5.55		7.56		2.21
Net income/(loss)	[4]	(21.93)		3.54		3.08		(1.14)
Net asset value per unit, Ending balance	[4]	$ 182.24		$ 139.35		$ 182.24		$ 139.35
Net investment gain/(loss)	[1]	(1.76%)		(2.91%)		(3.17%)		(3.41%)
Expenses before incentive fees	[6]	1.78%		1.93%		1.77%		1.92%
Expenses after incentive fees	[6]	1.79%		2.94%		3.20%		3.44%
Total return before incentive fees		(10.73%)	[7]	3.61%	[7]	3.15%	[7]	0.71%	[5]
Total return after incentive fees		(10.74%)	[7]	2.61%	[7]	1.72%	[7]	(0.81%)	[5]
Equinox Frontier Balanced Fund [Member] | Class 2a [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 174.76		$ 115.17		$ 153.02		$ 118.80
Interest income	[4]	0.01		0.01		0.02		0.02
Expenses	[4]	(0.76)		(1.72)		(3.86)		(2.86)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(17.65)		5.02		7.17		2.52
Net income/(loss)	[4]	(18.40)		3.31		3.34		(0.32)
Net asset value per unit, Ending balance	[4]	$ 156.36		$ 118.48		$ 156.36		$ 118.48
Net investment gain/(loss)	[1]	(1.76%)		(2.91%)		(3.17%)		(3.41%)
Expenses before incentive fees	[6]	1.78%		1.93%		1.77%		1.92%
Expenses after incentive fees	[6]	1.79%		2.94%		3.20%		3.44%
Total return before incentive fees		(10.52%)	[7]	3.88%	[7]	3.62%	[7]	1.25%	[5]
Total return after incentive fees		(10.53%)	[7]	2.87%	[7]	2.18%	[7]	(0.27%)	[5]
Equinox Frontier Balanced Fund [Member] | Class 3a [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 174.19		$ 114.80		$ 152.52		$ 118.41
Interest income	[4]	0.01		0.01		0.02		0.02
Expenses	[4]	(0.76)		(1.71)		(3.84)		(2.85)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(17.59)		4.99		7.15		2.51
Net income/(loss)	[4]	(18.34)		3.29		3.33		(0.32)
Net asset value per unit, Ending balance	[4]	$ 155.85		$ 118.09		$ 155.85		$ 118.09
Net investment gain/(loss)	[1]	(1.76%)		(2.91%)		(3.17%)		(3.41%)
Expenses before incentive fees	[6]	1.78%		1.93%		1.77%		1.92%
Expenses after incentive fees	[6]	1.79%		2.94%		3.20%		3.44%
Total return before incentive fees		(10.52%)	[7]	3.87%	[7]	3.62%	[7]	1.25%	[5]
Total return after incentive fees		(10.53%)	[7]	2.87%	[7]	2.18%	[7]	(0.27%)	[5]
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 151.80				$ 133.20
Interest income	[4]	0.01				0.02
Expenses	[4]	(0.66)				(3.35)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(15.66)				5.62
Net income/(loss)	[4]	(16.31)				2.29
Net asset value per unit, Ending balance	[4]	$ 135.49				$ 135.49
Net investment gain/(loss)	[1]	(1.76%)				(3.17%)
Expenses before incentive fees	[6]	1.78%				1.77%
Expenses after incentive fees	[6]	1.79%				3.20%
Total return before incentive fees	[7]	(10.74%)				3.15%
Total return after incentive fees	[7]	(10.74%)				1.72%
Equinox Frontier Select Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 106.16		$ 75.01		$ 95.61		$ 79.86
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(1.42)		(1.58)		(3.89)		(2.93)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(17.43)		4.80		(4.41)		1.30
Net income/(loss)	[4]	(18.85)		3.22		(8.30)		(1.63)
Net asset value per unit, Ending balance	[4]	$ 87.31		$ 78.23		$ 87.31		$ 78.23
Net investment gain/(loss)	[1]	(5.81%)		(7.82%)		(6.80%)		(7.62%)
Expenses before incentive fees	[6]	5.81%		7.63%		5.79%		7.45%
Expenses after incentive fees	[6]	5.81%		7.82%		6.80%		7.62%
Total return before incentive fees		(17.76%)	[7]	4.48%	[7]	(7.67%)	[7]	(1.87%)	[5]
Total return after incentive fees		(17.76%)	[7]	4.29%	[7]	(8.68%)	[7]	(2.04%)	[5]
Equinox Frontier Select Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 143.73		$ 98.55		$ 128.48		$ 104.14
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(0.93)		(1.34)		(3.24)		(2.37)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(23.71)		6.35		(6.15)		1.79
Net income/(loss)	[4]	(24.64)		5.01		(9.39)		(0.58)
Net asset value per unit, Ending balance	[4]	$ 119.09		$ 103.56		$ 119.09		$ 103.56
Net investment gain/(loss)	[1]	(2.81%)		(4.81%)		(3.80%)		(4.62%)
Expenses before incentive fees	[6]	2.81%		4.63%		2.79%		4.45%
Expenses after incentive fees	[6]	2.81%		4.81%		3.80%		4.62%
Total return before incentive fees		(17.14%)	[7]	5.27%	[7]	(6.29%)	[7]	(0.38%)	[5]
Total return after incentive fees		(17.14%)	[7]	5.08%	[7]	(7.31%)	[7]	(0.56%)	[5]
Equinox Frontier Select Fund [Member] | Class 1AP [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 108.31				$ 96.82
Interest income	[4]	0.00				0.00
Expenses	[4]	(0.70)				(2.44)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(17.87)				(4.64)
Net income/(loss)	[4]	(18.57)				(7.08)
Net asset value per unit, Ending balance	[4]	$ 89.74				$ 89.74
Net investment gain/(loss)	[1]	(2.81%)				(3.80%)
Expenses before incentive fees	[6]	2.81%				2.79%
Expenses after incentive fees	[6]	2.81%				3.80%
Total return before incentive fees	[7]	(17.15%)				(6.30%)
Total return after incentive fees	[7]	(17.15%)				(7.31%)
Equinox Frontier Winton Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 191.90		$ 136.93		$ 175.95		$ 139.59
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(3.06)		(4.21)		(9.39)		(6.51)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(22.99)		12.35		(0.71)		11.99
Net income/(loss)	[4]	(26.05)		8.14		(10.10)		5.48
Net asset value per unit, Ending balance	[4]	$ 165.85		$ 145.07		$ 165.85		$ 145.07
Net investment gain/(loss)	[1]	(6.83%)		(8.34%)		(8.62%)		(8.27%)
Expenses before incentive fees	[6]	6.83%		7.13%		6.87%		7.06%
Expenses after incentive fees	[6]	6.83%		8.34%		8.62%		8.27%
Total return before incentive fees		(13.57%)	[7]	7.16%	[7]	(3.99%)	[7]	5.13%	[5]
Total return after incentive fees		(13.57%)	[7]	5.94%	[7]	(5.74%)	[7]	3.93%	[5]
Equinox Frontier Winton Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 248.56		$ 172.12		$ 226.23		$ 174.17
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(2.23)		(3.98)		(8.65)		(5.60)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(29.90)		15.58		(1.15)		15.15
Net income/(loss)	[4]	(32.13)		11.60		(9.80)		9.55
Net asset value per unit, Ending balance	[4]	$ 216.43		$ 183.72		$ 216.43		$ 183.72
Net investment gain/(loss)	[1]	(3.82%)		(5.34%)		(5.62%)		(5.27%)
Expenses before incentive fees	[6]	3.82%		4.12%		3.86%		4.06%
Expenses after incentive fees	[6]	3.82%		5.34%		5.62%		5.27%
Total return before incentive fees		(12.93%)	[7]	7.95%	[7]	(2.58%)	[7]	6.69%	[5]
Total return after incentive fees		(12.93%)	[7]	6.74%	[7]	(4.33%)	[7]	5.48%	[5]
Equinox Frontier Winton Fund [Member] | Class 1AP [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 195.77				$ 178.18
Interest income	[4]	0.00				0.00
Expenses	[4]	(1.76)				(6.81)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(23.55)				(0.91)
Net income/(loss)	[4]	(25.31)				(7.72)
Net asset value per unit, Ending balance	[4]	$ 170.46				$ 170.46
Net investment gain/(loss)	[1]	(3.82%)				(5.62%)
Expenses before incentive fees	[6]	3.82%				3.86%
Expenses after incentive fees	[6]	3.82%				5.62%
Total return before incentive fees	[7]	(12.93%)				(2.58%)
Total return after incentive fees	[7]	(12.93%)				(4.33%)
Equinox Frontier Heritage Fund [Member] | Class 1 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 147.87		$ 95.41		$ 130.28		$ 102.05
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(2.01)		(2.38)		(5.46)		(3.85)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(19.76)		9.55		1.28		4.38
Net income/(loss)	[4]	(21.77)		7.17		(4.18)		0.53
Net asset value per unit, Ending balance	[4]	$ 126.10		$ 102.58		$ 126.10		$ 102.58
Net investment gain/(loss)	[1]	(5.88%)		(7.41%)		(6.94%)		(7.22%)
Expenses before incentive fees	[6]	5.88%		6.65%		5.96%		6.49%
Expenses after incentive fees	[6]	5.88%		7.41%		6.94%		7.22%
Total return before incentive fees		(14.72%)	[7]	8.28%	[7]	(2.23%)	[7]	1.25%	[5]
Total return after incentive fees		(14.72%)	[7]	7.51%	[7]	(3.21%)	[7]	0.52%	[5]
Equinox Frontier Heritage Fund [Member] | Class 2 [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 201.89		$ 126.41		$ 176.56		$ 134.21
Interest income	[4]	0.00		0.00		0.00		0.00
Expenses	[4]	(1.35)		(2.19)		(4.62)		(3.18)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(27.09)		12.71		1.51		5.90
Net income/(loss)	[4]	(28.44)		10.52		(3.11)		2.72
Net asset value per unit, Ending balance	[4]	$ 173.45		$ 136.93		$ 173.45		$ 136.93
Net investment gain/(loss)	[1]	(2.88%)		(4.41%)		(3.93%)		(4.22%)
Expenses before incentive fees	[6]	2.88%		3.64%		2.96%		3.49%
Expenses after incentive fees	[6]	2.88%		4.41%		3.93%		4.22%
Total return before incentive fees		(14.09%)	[7]	9.09%	[7]	(0.79%)	[7]	2.76%	[5]
Total return after incentive fees		(14.09%)	[7]	8.32%	[7]	(1.76%)	[7]	2.03%	[5]
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member]
Financial Highlights [Line Items]
Net asset value per unit, Beginning balance	[4]	$ 150.86				$ 131.93
Interest income	[4]	0.00				0.00
Expenses	[4]	(1.01)				(3.45)
Net gain/(loss) on investments, net of non-controlling interests	[4]	(20.24)				1.13
Net income/(loss)	[4]	(21.25)				(2.32)
Net asset value per unit, Ending balance	[4]	$ 129.61				$ 129.61
Net investment gain/(loss)	[1]	(2.88%)				(3.93%)
Expenses before incentive fees	[6]	2.88%				2.96%
Expenses after incentive fees	[6]	2.88%				3.93%
Total return before incentive fees	[7]	(14.09%)				(0.78%)
Total return after incentive fees	[7]	(14.09%)				(1.76%)

[1] Annualized with the exception of incentive fees.

[2] Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5.

[3] Total returns are not annualized.

[4] Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.

[5] Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner's total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized

[6] Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6.

[7] Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner's total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized.

XML

Statement of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Investment income/(loss):
Interest - net	$ 274,961	$ 261,329	$ 569,631		$ 599,552
Total Income	274,961	261,329	569,631		599,552
Expenses:
Incentive Fees	94,738	2,554,722	4,997,512		3,552,049
Management Fees	1,280,518	1,498,648	2,569,188		3,128,333
Trading Fees	886,592	798,997	1,807,859		1,704,117
Total Expenses	3,391,687	5,918,249	11,675,450		10,652,538
Investment (loss) - net	(3,116,726)	(5,656,920)	(11,105,819)		(10,052,986)
Realized and unrealized gain/(loss) on investments:
Net change in open trade equity/(deficit)	(3,193,895)	5,985,923	(13,495,336)		(5,042,030)
Trading commissions	(715,951)	(850,912)	(1,426,355)		(1,904,552)
Net gain/(loss) on investments	(33,090,981)	15,085,976	9,564,072		5,687,360
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(36,207,707)	9,429,056	(1,541,747)		(4,365,626)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS			(1,541,747)
U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	588,474	(86,598)	588,474		(641,266)
Net unrealized gain/(loss) on investments	(5,876,125)	2,699,089	(3,141,062)		9,484,294
Futures, forwards and options [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	(14,178,689)	5,361,595	25,808,976		5,513,099
Swap [Member]
Realized and unrealized gain/(loss) on investments:
Net unrealized gain/(loss) on investments	(9,714,795)	1,976,879	1,229,375		(1,722,185)
Class 1 [Member]
Expenses:
Service Fees	1,129,839	1,065,882	2,300,891		2,268,039
Equinox Frontier Diversified Fund [Member]
Investment income/(loss):
Interest - net	155,143	135,499	324,401		300,377
Total Income	155,143	135,499	324,401		300,377
Expenses:
Incentive Fees	4,000	954,829	1,638,242		1,386,913
Management Fees	243,004	271,073	489,308		547,629
Service Fees	108,250	125,184	230,168		273,595
Trading Fees	351,096	307,242	721,898		649,807
Total Expenses	706,350	1,658,328	3,079,616		2,857,944
Investment (loss) - net	(551,207)	(1,522,829)	(2,755,215)		(2,557,567)
Realized and unrealized gain/(loss) on investments:
Net change in open trade equity/(deficit)	(3,084,315)		(3,212,206)		(83,337)
Trading commissions	(182,250)		(366,567)		(6,386)
Change in fair value of investments in unconsolidated trading companies	(1,411,843)	3,363,720	2,060,866		884,399
Net gain/(loss) on investments	(7,276,498)	4,070,105	7,957,973		2,485,576
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(7,827,705)	2,547,276	5,202,758		(71,992)
Less: Operations attributable to non-controlling interests	(322,342)		2,991,055		325,371
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(7,505,363)	2,547,276	2,211,703		(397,362)
Equinox Frontier Diversified Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	133,349	(17,129)	133,349		(127,713)
Net unrealized gain/(loss) on investments	(1,267,982)	535,347	(583,896)		1,883,962
Equinox Frontier Diversified Fund [Member] | Futures, forwards and options [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	480,498		8,881,667		325,885
Equinox Frontier Diversified Fund [Member] | Swap [Member]
Realized and unrealized gain/(loss) on investments:
Net unrealized gain/(loss) on investments	(1,943,955)	188,167	1,044,760		(391,235)
Equinox Frontier Diversified Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 108,250	$ 125,184	$ 230,168		$ 273,595
Equinox Frontier Diversified Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (16.11)	$ 4.00	$ 2.46		$ (0.33)
Equinox Frontier Diversified Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(17.27)	4.76	3.82		0.46
Equinox Frontier Diversified Fund [Member] | Total Owner Class 3 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (15.87)	$ 4.45	$ 3.67		$ 3.16
Equinox Frontier Masters Fund [Member]
Investment income/(loss):
Interest - net	$ 68,655	$ 71,429	$ 139,819		$ 166,701
Total Income	68,655	71,429	139,819		166,701
Expenses:
Incentive Fees	41,072	168,094	576,374		181,806
Management Fees	182,496	230,233	361,156		507,313
Service Fees	60,813	76,310	125,991		180,593
Trading Fees	147,701	147,195	301,334		323,110
Total Expenses	432,082	621,832	1,364,855		1,192,822
Investment (loss) - net	(363,427)	(550,403)	(1,225,036)		(1,026,121)
Realized and unrealized gain/(loss) on investments:
Change in fair value of investments in unconsolidated trading companies	(2,913,886)	1,844,351	181,873		(9,085)
Net gain/(loss) on investments	(3,430,447)	2,119,822	9,556		980,182
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(3,793,874)	1,569,419	(1,215,480)		(45,939)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(3,793,874)	1,569,419	(1,215,480)		(45,939)
Equinox Frontier Masters Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	56,105	(9,105)	56,105		(71,630)
Net unrealized gain/(loss) on investments	(572,666)	284,576	(228,422)		1,060,897
Equinox Frontier Masters Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 60,813	$ 76,310	$ 125,991		$ 180,593
Equinox Frontier Masters Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (18.37)	$ 5.67	$ (6.60)		$ 1.14
Equinox Frontier Masters Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(19.80)	6.61	(6.21)		2.11
Equinox Frontier Masters Fund [Member] | Total Owner Class 3 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (18.28)	$ 6.17	$ (5.61)	[1]	$ 2.06
Equinox Frontier Long/Short Commodity Fund [Member]
Investment income/(loss):
Interest - net	$ 43,133	$ 47,605	$ 90,191		$ 116,852
Total Income	43,133	47,605	90,191		116,852
Expenses:
Incentive Fees	40,149		279,366
Management Fees	131,237	223,050	254,273		509,680
Service Fees	29,629	30,304	61,529		68,868
Trading Fees	65,150	64,027	134,078		146,001
Total Expenses	266,165	317,381	729,246		724,549
Investment (loss) - net	(223,032)	(269,776)	(639,055)		(607,697)
Realized and unrealized gain/(loss) on investments:
Net change in open trade equity/(deficit)		1,767,132			961,346
Trading commissions		(8,038)			(415,314)
Change in fair value of investments in unconsolidated trading companies	(512,304)	(466,714)	1,422,221		(1,012,360)
Net gain/(loss) on investments	(1,822,067)	1,521,079	910,138		(2,565,800)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(2,045,099)	1,251,303	271,083		(3,173,497)
Less: Operations attributable to non-controlling interests		1,139,624			(766,822)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(2,045,099)	111,679	271,083		(2,406,675)
Equinox Frontier Long/Short Commodity Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	33,884	(6,059)	33,884		(54,879)
Net unrealized gain/(loss) on investments	(345,884)	192,801	(217,116)		774,729
Equinox Frontier Long/Short Commodity Fund [Member] | Futures, forwards and options [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments		(144,365)			(2,580,860)
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member]
Realized and unrealized gain/(loss) on investments:
Net unrealized gain/(loss) on investments	(997,763)	186,322	(328,851)		(238,462)
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 29,629	$ 30,304	$ 61,529		$ 68,868
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (18.04)	$ 0.69	$ 9.86		$ (13.09)
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 1a [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(13.53)	0.34	6.05		(9.97)
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 2a [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(14.46)	0.76	7.68		(10.02)
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 3 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(17.86)	0.69	9.86		(13.10)
Equinox Frontier Long/Short Commodity Fund [Member] | Total Owner Class 3a [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (14.45)	$ 0.82	$ 7.87		$ (9.91)
Equinox Frontier Balanced Fund [Member]
Investment income/(loss):
Interest - net	$ 8,003	$ 6,543	$ 15,193		$ 15,073
Total Income	8,003	6,543	15,193		15,073
Expenses:
Incentive Fees	9,517	902,054	1,496,474		1,453,340
Management Fees	267,377	264,152	526,972		554,537
Service Fees	556,081	492,255	1,118,882		1,041,703
Trading Fees	194,144	167,758	389,488		355,157
Total Expenses	1,027,119	1,826,219	3,531,816		3,404,737
Investment (loss) - net	(1,019,116)	(1,819,676)	(3,516,623)		(3,389,664)
Realized and unrealized gain/(loss) on investments:
Net change in open trade equity/(deficit)	(1,047,941)	623,763	(2,413,756)		(1,535,401)
Trading commissions	(124,528)	(345,203)	(266,438)		(631,520)
Change in fair value of investments in unconsolidated trading companies	(854,236)	197,789	4,668,213		(3,884,435)
Net gain/(loss) on investments	(11,603,137)	6,379,507	4,651,795		4,237,671
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(12,622,253)	4,559,831	1,135,172		848,007
Less: Operations attributable to non-controlling interests	(473,996)	2,854,321	356,146		3,307,859
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(12,148,257)	1,705,510	779,026		(2,459,852)
Equinox Frontier Balanced Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	215,325	(31,461)	215,325		(225,870)
Net unrealized gain/(loss) on investments	(2,126,900)	967,127	(1,389,049)		3,414,775
Equinox Frontier Balanced Fund [Member] | Futures, forwards and options [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	(2,682,859)	4,111,434	3,592,820		7,730,596
Equinox Frontier Balanced Fund [Member] | Swap [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments					(630,474)
Net unrealized gain/(loss) on investments	(4,981,998)	856,058	244,680		(630,474)
Equinox Frontier Balanced Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 556,081	$ 492,255	$ 1,118,882		$ 1,041,703
Equinox Frontier Balanced Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (16.98)	$ 1.87	$ 0.28		$ (2.43)
Equinox Frontier Balanced Fund [Member] | Total Owner Class 1AP [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(16.31)		2.29	[2]
Equinox Frontier Balanced Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(21.93)	3.54	3.08		(1.14)
Equinox Frontier Balanced Fund [Member] | Total Owner Class 2a [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(18.40)	3.30	3.34		(0.32)
Equinox Frontier Balanced Fund [Member] | Total Owner Class 3a [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (18.34)	$ 3.29	$ 3.33		$ (0.32)
Equinox Frontier Select Fund [Member]
Expenses:
Incentive Fees		$ 26,677	$ 158,971		$ 26,677
Management Fees	$ 78,206	140,286	158,278		278,724
Service Fees	101,967	97,799	208,868		203,387
Trading Fees	28,454	27,150	58,347		56,552
Total Expenses	208,627	291,912	584,464		565,340
Investment (loss) - net	(208,627)	(291,912)	(584,464)		(565,340)
Realized and unrealized gain/(loss) on investments:
Net change in open trade equity/(deficit)	(902,659)		(1,606,742)
Trading commissions	(33,722)		(65,896)
Change in fair value of investments in unconsolidated trading companies	(856,713)	768,926	175,736		(328,501)
Net gain/(loss) on investments	(4,071,120)	902,903	(1,329,889)		132,564
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(4,279,747)	610,991	(1,914,353)		(432,776)
Less: Operations attributable to non-controlling interests	(1,366,570)		(684,237)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(2,913,177)	610,991	(1,230,116)		(432,776)
Equinox Frontier Select Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	12,618	(4,607)	12,618		(34,988)
Net unrealized gain/(loss) on investments	(126,672)	138,584	32,740		496,053
Equinox Frontier Select Fund [Member] | Futures, forwards and options [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	(2,163,972)		121,655
Equinox Frontier Select Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 101,967	$ 97,799	$ 208,868		$ 203,387
Equinox Frontier Select Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (18.85)	$ 3.22	$ (8.30)		$ (1.63)
Equinox Frontier Select Fund [Member] | Total Owner Class 1AP [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(18.57)		(7.08)	[2]
Equinox Frontier Select Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (24.64)	$ 5.01	$ (9.39)		$ (0.58)
Equinox Frontier Winton Fund [Member]
Investment income/(loss):
Interest - net	$ 27		$ 27		$ 41
Total Income	27		27		41
Expenses:
Incentive Fees		$ 415,629	715,409		415,629
Management Fees	307,212	287,648	630,317		568,021
Service Fees	198,125	177,981	403,462		360,945
Trading Fees	74,984	64,049	151,960		128,644
Total Expenses	580,321	945,307	1,901,148		1,473,239
Investment (loss) - net	(580,294)	(945,307)	(1,901,121)		(1,473,198)
Realized and unrealized gain/(loss) on investments:
Change in fair value of investments in unconsolidated trading companies	(4,061,244)	2,553,073	381,989		1,560,816
Net gain/(loss) on investments	(5,119,775)	2,996,455	(122,657)		2,893,259
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(5,700,069)	2,051,148	(2,023,778)		1,420,061
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(5,700,069)	2,051,148	(2,023,778)		1,420,061
Equinox Frontier Winton Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	111,546	(14,220)	111,546		(97,349)
Net unrealized gain/(loss) on investments	(1,170,077)	457,602	(616,192)		1,429,792
Equinox Frontier Winton Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 198,125	$ 177,981	$ 403,462		$ 360,945
Equinox Frontier Winton Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (26.05)	$ 8.14	$ (10.10)		$ 5.48
Equinox Frontier Winton Fund [Member] | Total Owner Class 1AP [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(25.31)		(7.72)	[2]
Equinox Frontier Winton Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (32.13)	$ 11.59	$ (9.80)		$ 9.55
Equinox Frontier Heritage Fund [Member]
Expenses:
Incentive Fees		$ 86,999	$ 132,676		$ 86,999
Management Fees	$ 70,986	81,966	148,884		161,975
Service Fees	74,974	65,875	151,991		138,600
Trading Fees	25,063	21,279	50,754		44,378
Total Expenses	171,023	256,119	484,305		431,952
Investment (loss) - net	(171,023)	(256,119)	(484,305)		(431,952)
Realized and unrealized gain/(loss) on investments:
Trading commissions		(3,500)			(3,500)
Change in fair value of investments in unconsolidated trading companies	(739,054)	557,360	122,347		254,158
Net gain/(loss) on investments	(2,770,445)	1,418,344	277,640		181,764
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS	(2,941,468)	1,162,225	(206,665)		(250,188)
Less: Operations attributable to non-controlling interests	(839,599)	329,960	127,516		(208,034)
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS	(2,101,869)	832,265	(334,181)		(42,154)
Equinox Frontier Heritage Fund [Member] | U.S. TREASURY SECURITIES [Member]
Realized and unrealized gain/(loss) on investments:
Net realized gain/(loss) on investments	25,632	(4,016)	25,632		(28,835)
Net unrealized gain/(loss) on investments	(265,944)	122,590	(139,125)		422,594
Equinox Frontier Heritage Fund [Member] | Swap [Member]
Realized and unrealized gain/(loss) on investments:
Net unrealized gain/(loss) on investments	(1,791,079)	745,910	268,786		(462,653)
Equinox Frontier Heritage Fund [Member] | Class 1 [Member]
Expenses:
Service Fees	$ 74,974	$ 65,875	$ 151,991		$ 138,600
Equinox Frontier Heritage Fund [Member] | Total Owner Class 1 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (21.77)	$ 7.02	$ (4.18)		$ 0.53
Equinox Frontier Heritage Fund [Member] | Total Owner Class 1AP [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	(21.25)		(2.32)	[2]
Equinox Frontier Heritage Fund [Member] | Total Owner Class 2 [Member]
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT	$ (28.44)	$ 10.31	$ (3.11)		$ 2.72

[1] Class 3 operations began February 25, 2014.

[2] Class 1AP began trading July 31, 2014

XML

Fair Value Measurements

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Fair Value Measurements

3. Fair Value Measurements

In connection with the valuation of investments the Series apply ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements.

Level 1 Inputs

Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs

Inputs other than quoted prices included in Level 1 that are observable for the financial asset or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial asset or inputs that are derived principally from or corroborated by market data by correlation or other means.

Level 3 Inputs

Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset.

The Trust, with respect to the Series, uses the following methodologies to value instruments within its financial asset portfolio at fair value:

Trading Securities. These instruments include U.S. Treasury securities and open trade equity positions (futures contracts) that are actively traded on public markets with quoted pricing for corroboration. U.S. Treasury securities and futures contracts, are reported at fair value using Level 1 inputs. Trading securities instruments further include open trade equity positions (trading options and currency forwards) that are quoted prices for identical or similar assets that are not traded on active markets. Trading options and currency forwards are reported at fair value using Level 2 inputs.

Swap Contracts. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. Swap contracts are reported at fair value basis upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. The fair value is corroborated through the use of a third party pricing service (“pricing service”). The valuation requires significant estimates utilizing Level 3 inputs, corroborated by management through the use of a third party pricing service (“pricing service”). The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected, the components of the model, both observable and unobservable; and quality control testing procedures in place. The pricing service’s methodology includes performance of tolerance testing on its valuation models to ensure consistency and reasonableness of the values derived. The tolerance testing includes valuing the components of the product separately, i.e. underlying asset, volatility, financing rates, and so forth. The tolerance testing is part of the initial valuation setup and the ongoing daily valuation process. The pricing service also has several layers of quality control including: engineering / reverse engineering process to understand each Swap and its subcomponent parts fully; comparative analysis against other valuations performed with similar composition and characteristics; review of output valuation against expectations based on observable price movements of underlying futures; and lastly, periodic review by senior a financial engineer to ensure the design and function of the model is stable and performs as expected.

The Managing Owner has chartered a valuation committee to provide oversight of the valuation process for the Series. The valuation committee meets at least monthly to discuss the valuation process and any valuation issues that may arise. The valuation committee is comprised of senior members of the Managing Owner’s management team with varying areas of expertise that add value to the committee. The valuation committee reports to both the Managing Owner’s Management Commitee and the Trust’s Executive Committee. The committee further remains in communication with the Managing Owner’s Due Diligence Committee that provides ongoing counterparty risk monitoring of the swap counterparties. The committee monitors daily pricing provided by the swap counterparty and daily valuation provided by the third party pricing service. The valuation committee may request a price challenge if the daily valuation provided by the counterparty valuations differs significantly from the valuation obtained by the pricing service. The Managing Owner’s valuation committee monitors some additional input factors such as liquidity, volatility, and counterparty risk in order to further review the valuations provided by the pricing service.

Investment in Unconsolidated Trading Companies. This investment represents the fair value of the allocation of cash, futures, forwards, options and swaps to each respective Series relative to its trading allocations from unconsolidated Trading Companies. The Series may redeem their investment in the trading companies on a daily basis at the stated net asset value and therefore the inputs qualify for Level 2. However, as the Series, under the same management as the Trading Companies, have access to the underlying positions of the Trading Companies, the level determination are reflected on that basis. As such, the Series report investments in unconsolidated Trading Companies at fair value using the corresponding inputs of the underlying securities of the Trading Companies which results in the Series reporting the corresponding Level determination from the inputs of the Trading Company.

The following table summarizes the instruments that comprise the Trust, with respect to the Series, financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs			Level 2 Inputs			Level 3 Inputs		Total Fair Value
Equinox Frontier Diversified Fund
Investment in Unconsolidated Trading Companies	$	5,899,789		$	298,675		$	—	$	6,198,464
Open Trade Equity (Deficit)		(571,551	)		—			—		(571,551	)
Options Purchased		—			374,470			—		374,470
Options Written		—			(219,660	)		—		(219,660	)
Swap Contracts		—			—			7,615,169		7,615,169
U.S. Treasury Securities		29,071,240			—			—		29,071,240
Equinox Frontier Masters Fund
Investment in Unconsolidated Trading Companies		8,598,866			168,654			—		8,767,520
U.S. Treasury Securities		11,913,754			—			—		11,913,754
Equinox Frontier Long/Short Commodity Fund
Swap Contracts		—			—			4,304,209		4,304,209
Investment in Unconsolidated Trading Companies		3,516,988			380,006			—		3,896,994
U.S. Treasury Securities		6,743,330			—			—		6,743,330
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		(778,963	)		—			—		(778,963	)
Swap Contracts		—			—			18,491,634		18,491,634
Investment in Unconsolidated Trading Companies		13,892,904			440,892			—		14,333,796
U.S. Treasury Securities		47,350,232			—			—		47,350,232
Equinox Frontier Select Fund										—
Open Trade Equity (Deficit)		55,956			—			—		55,956
Investment in Unconsolidated Trading Companies		373,618			—			3,639,651		4,013,269
U.S. Treasury Securities		2,415,549			—			—		2,415,549
Equinox Frontier Winton Fund
Investment in Unconsolidated Trading Companies		6,544,957			204,082			—		6,749,039
U.S. Treasury Securities		25,617,478			—					25,617,478
Equinox Frontier Heritage Fund
Swap Contracts		—			—			7,809,251		7,809,251
Investment in Unconsolidated Trading Companies		1,361,243			36,800			—		1,398,043
U.S. Treasury Securities		5,706,384			—			—		5,706,384

December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total  Fair Value
Equinox Frontier Diversified Fund
Investments in Unconsolidated Trading Companies	$	6,631,887	$	(37,508	)	$	—	$	6,594,379
Open Trade Equity (Deficit)		3,171,968		43,238			—		3,215,206
Options Purchased		—		288,413			—		288,413
Options Written		—		(253,018	)		—		(253,018	)
Swap Contracts		—		—			6,570,408		6,570,408
U.S. Treasury Securities		31,051,659		—			—		31,051,659
Equinox Frontier Masters Fund
Investments in Unconsolidated Trading Companies		7,942,166		(40,188	)		—		7,901,978
U.S. Treasury Securities		16,217,173		—			—		16,217,173
Equinox Frontier Long/Short Commodity Fund
Investments in Unconsolidated Trading Companies		3,789,466		25,388			—		3,814,854
Swap Contracts		—		—			3,633,060		3,633,060
U.S. Treasury Securities		8,191,519		—			—		8,191,519
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		3,717,291		(419,742	)		—		3,297,549
Investments in Unconsolidated Trading Companies		18,354,685		(10,758	)		—		18,343,927
Swap Contracts		—		—			18,246,954		18,246,954
U.S. Treasury Securities		41,625,860		—			—		41,625,860
Equinox Frontier Select Fund
Investments in Unconsolidated Trading Companies		4,591,569		(28,926	)		3,539,498		8,102,141
U.S. Treasury Securities		6,476,939		—			—		6,476,939
Equinox Frontier Winton Fund
Investments in Unconsolidated Trading Companies		7,656,170		(176,512	)		—		7,479,658
U.S. Treasury Securities		29,593,974					—		29,593,974
Equinox Frontier Heritage Fund
Investments in Unconsolidated Trading Companies		1,576,952		(33,566	)		—		1,543,386
Swap Contracts		—		—			7,540,465		7,540,465
U.S. Treasury Securities		6,796,392		—					6,796,392

The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net unrealized gain/(loss) on swap contracts” on the statements of operations. Investment in unconsolidated trading company asset gains and losses (realized/unrealized) included in earnings are classified in “Change in fair value of investments in unconsolidated trading companies.” During the six months ended June 30, 2015 and year ended December 31, 2014, all identified Level 3 assets are components of the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund.

For the Six Months Ended June 30, 2015

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	6,570,408	$	3,633,060		$	18,246,954
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		1,044,761		(328,851	)		244,680
Purchases of investments		—		1,000,000			—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—			—
Transfers in and/or out of Level 3		—		—			—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,615,169	$	4,304,209		$	18,491,634

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	7,540,465
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		268,786
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,809,251

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	3,539,498
Change in fair value of investments in unconsolidated trading companies		100,153
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	3,639,651

For the Year Ended December 31, 2014

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	3,437,632	$	2,456,546	$	10,122,003
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		3,132,776		1,176,514		8,124,951
Purchases of investments		—		—		—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—		—
Transfers in and/or out of Level 3		—		—		—
Balance of recurring Level 3 assets as of December 31, 2014	$	6,570,408	$	3,633,060	$	18,246,954

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	5,435,184
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		2,105,281
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	7,540,465

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	2,415,637
Change in fair value of investments in unconsolidated trading companies		1,123,861
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	3,539,498

The Series of the Trust assess the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Series’ accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six months ended June 30, 2015 and year ended December 31, 2014, the Trust did not transfer any assets between Levels 1, 2 or 3.

The amounts reflected in the change in ownership allocation result from changes in ownership in the underlying Trading Companies at the Series level, which have resulted in changes in consolidation or de-consolidation by the Series. The ownership in the Trading Companies is accounted for under the equity method, which approximates fair value.

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	1,044,760	$	(328,851	)	$	244,680	$	268,786

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	3,132,776	$	1,176,514	$	8,120,996	$	2,105,281

Equinox Frontier Funds [Member]

Fair Value Measurements

3. Fair Value Measurements

In connection with the valuation of investments the Trust applies ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements.

Level 1 Inputs

Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs

Inputs other than quoted prices included in Level 1 that are observable for the financial assets or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial assets or inputs that are derived principally from or corroborated by market data by correlation or other means.

Level 3 Inputs

Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset.

The Trust uses the following methodologies to value instruments within its financial asset portfolio at fair value:

Trading Securities. These instruments include U.S. Treasury securities and open trade equity positions (futures contracts) that are actively traded on public markets with quoted pricing for corroboration. U.S. Treasury securities and futures contracts are reported at fair value using Level 1 inputs. Trading securities instruments further include trading options and currency forwards that are quoted prices for identical or similar assets that are not traded on active markets. Trading options and currency forwards are reported at fair value using Level 2 inputs.

Swap Contracts. Certain Series of the Trust strategically invest a portion or all of their assets in total return Swaps, selected at the direction of the Managing Owner. Swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical Swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount of value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. Swap contracts are reported at fair value based upon daily reports from the counterparty. The counterparty values the investments based on the CTA’s estimated position information on a same-trading day basis. The Managing Owner reviews and approves current day pricing of the CTA positions, as received from the counterparty which includes intra-day volatility and volume and daily index performance, that is used to determine a daily fair value NAV for the swap contracts. The fair value is corroborated through the use of a third party pricing service (“pricing service”). The valuation of swap contracts requires significant estimates utilizing Level 3 Inputs corroborated by management through the use of the pricing service. The pricing service, utilizing proprietary model-intensive methodologies, selects and implements the pricing model appropriate for each swap valuation. The pricing service does not provide detail of the pricing model to management. The Managing Owner through the valuation committee charted by the Executive Committee of the Trust, engages, via inquiry and review of methodology documentation, with the service provider to gain an understanding of the valuation model selected; the components of the model, both observable and unobservable; and quality control testing procedures in place. The valuation committee meets on a monthly basis and as needed to discuss any updates or changes in the valuation process, reporting to the Executive Committee. The pricing service’s methodology includes performance of tolerance testing on its valuation models to ensure consistency and reasonableness of the values derived. The tolerance testing includes valuing the components of the product separately, i.e. underlying asset, volatility, financing rates, and so forth. The tolerance testing is part of the initial valuation setup and throughout the ongoing daily valuation process. The pricing service also has several layers of quality control including: engineering / reverse engineering process to understand each swap and its subcomponent parts fully; comparative analysis against other valuations performed with similar composition and characteristics; review of output valuation against expectations based on observable price movements of underlying futures; and lastly, periodic review by a senior financial engineer to ensure design and function of model is stable and perform as expected.

The Managing Owner has chartered a valuation committee to provide oversight of the valuation process for the Series. The valuation committee meets at least monthly to discuss the valuation process and any valuation issues that may arise. The valuation committee is comprised of senior members of the Managing Owner’s management team with varying areas of expertise that add value to the committee. The valuation committee reports to both the Managing Owner’s Management Committee and the Trust’s Executive Committee. The committee further remains in communication with the Managing Owner’s Due Diligence Committee that provides ongoing counterparty risk monitoring of the swap counterparties. The committee’s designee monitors daily pricing valuation provided by the swap counterparty and daily valuation provided by the third party pricing service to ensure the change in fair value is reasonable and valuations are in accordance with current regulations and best practices. The committee may request a price challenge if the daily valuation provided by the counterparty valuations differs significantly from the valuation obtained by the pricing service. The Managing Owner’s valuation committee monitors some additional input factors such as liquidity, volatility, and counterparty risk in order to further review the valuations provide by the pricing service.

The following table summarizes the instruments that comprise the Trust’s financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	70,482	$	(87,763	)	$	—	$	(17,281	)
Swap Contracts		—		—			38,220,263		38,220,263
U.S. Treasury Securities		128,817,968		—			—		128,817,968
Purchased Options		—		3,819,429			—		3,819,429
Written Options		—		(2,581,870	)		—		(2,581,870	)
December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	15,756,796	$	(932,374	)	$	—	$	14,824,422
Swap Contracts		—		—			35,990,887		35,990,887
U.S. Treasury Securities		139,953,516		—			—		139,953,516
Purchased Options		—		9,075,883			—		9,075,883
Written Options		—		(8,963,838	)		—		(8,963,838	)

The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net realized and net unrealized gain/(loss) on swap contracts” on the statements of operations.

	For the Six Months Ended June 30, 2015
Balance of recurring Level 3 assets as of January 1, 2015	$	35,990,887
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		1,229,376
Purchases of investments		1,000,000
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	38,220,263
	For the Year Ended December 31, 2014
Balance of recurring Level 3 assets as of January 1, 2014	$	21,455,529
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		14,535,358
Purchases of investments		—
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	35,990,887

The Trust assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Trust’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six months ended June 30, 2015 and the year ended December 31, 2014, the Trust did not transfer any assets between Levels 1, 2 and 3.

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

Swaps $ 1,229,375

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

Swaps $ 14,535,358

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Significant Accounting Policies - Additional Information (Detail) - Jun. 30, 2015	Total
The Series of Equinox Frontier Funds [Member] | Class 1 or Class 1a [Member]
Significant Accounting Policies [Line Items]
Percentage of NAV charged as a service fees	3.00%
Amortized monthly annual rate	3.00%
Redemption fee	3.00%
The Series of Equinox Frontier Funds [Member] | Class 2 or Class 2a [Member]
Significant Accounting Policies [Line Items]
Service fee	0.50%
The Series of Equinox Frontier Funds [Member] | Class 2 [Member]
Significant Accounting Policies [Line Items]
Service fee	0.25%
The Series of Equinox Frontier Funds [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Gross income of the Trust constitutes qualifying income	90.00%
Equinox Frontier Funds [Member]
Significant Accounting Policies [Line Items]
Interest allocated to each Series is paid to the Managing Owner	20.00%
Equinox Frontier Funds [Member] | Class 1 or Class 1a [Member]
Significant Accounting Policies [Line Items]
Percentage of NAV charged as a service fees	3.00%
Amortized monthly annual rate	3.00%
Redemption fee	3.00%
Equinox Frontier Funds [Member] | Class 2 or Class 2a [Member]
Significant Accounting Policies [Line Items]
Service fee	0.50%
Equinox Frontier Funds [Member] | Class 2 [Member]
Significant Accounting Policies [Line Items]
Service fee	0.25%
Equinox Frontier Funds [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Gross income of the Trust constitutes qualifying income	90.00%
Equinox Frontier Balanced Fund [Member] | Class 1a, Class 2a and Class 3a [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Balanced Fund [Member] | Maximum [Member] | Class, Class 1AP and Class 2 [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%
Equinox Frontier Select Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%
Equinox Frontier Winton Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%
Equinox Frontier Heritage Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	2.00%
Equinox Frontier Diversified Fund [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Diversified Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Long/Short Commodity Fund [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Long/Short Commodity Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Masters Fund [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%
Equinox Frontier Masters Fund [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner	20.00%

XML

Transactions with Affiliates - Fees Earned by Managing owner (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Management Fees Provided For Service [Line Items]
Incentive Fee	$ 94,738	$ 2,554,722	$ 4,997,512	$ 3,552,049
Management Fee	1,280,518	1,498,648	2,569,188	3,128,333
Trading Fee	886,592	798,997	1,807,859	1,704,117
Equinox Frontier Diversified Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee	4,000	954,829	1,638,242	1,386,913
Management Fee	243,004	271,073	489,308	547,629
Service Fee	108,250	125,184	230,168	273,595
Trading Fee	351,096	307,242	721,898	649,807
Equinox Frontier Masters Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee	41,072	168,094	576,374	181,806
Management Fee	182,496	230,233	361,156	507,313
Service Fee	60,813	76,310	125,991	180,593
Trading Fee	147,701	147,195	301,334	323,110
Equinox Frontier Long/Short Commodity Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee	40,149		279,366
Management Fee	131,237	223,050	254,273	509,680
Service Fee	29,629	30,304	61,529	68,868
Trading Fee	65,150	64,027	134,078	146,001
Equinox Frontier Balanced Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee	9,517	902,054	1,496,474	1,453,340
Management Fee	267,377	264,152	526,972	554,537
Service Fee	556,081	492,255	1,118,882	1,041,703
Trading Fee	194,144	167,758	389,488	355,157
Equinox Frontier Select Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee		26,677	158,971	26,677
Management Fee	78,206	140,286	158,278	278,724
Service Fee	101,967	97,799	208,868	203,387
Trading Fee	28,454	27,150	58,347	56,552
Equinox Frontier Winton Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee		415,629	715,409	415,629
Management Fee	307,212	287,648	630,317	568,021
Service Fee	198,125	177,981	403,462	360,945
Trading Fee	74,984	64,049	151,960	128,644
Equinox Frontier Heritage Fund [Member]
Management Fees Provided For Service [Line Items]
Incentive Fee		86,999	132,676	86,999
Management Fee	70,986	81,966	148,884	161,975
Service Fee	74,974	65,875	151,991	138,600
Trading Fee	$ 25,063	$ 21,279	$ 50,754	$ 44,378

XML

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

The Series of Equinox Frontier Funds [Member]

Financial Asset Portfolio, by Series, Measured at Fair Value on Recurring Basis

The following table summarizes the instruments that comprise the Trust, with respect to the Series, financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs			Level 2 Inputs			Level 3 Inputs		Total Fair Value
Equinox Frontier Diversified Fund
Investment in Unconsolidated Trading Companies	$	5,899,789		$	298,675		$	—	$	6,198,464
Open Trade Equity (Deficit)		(571,551	)		—			—		(571,551	)
Options Purchased		—			374,470			—		374,470
Options Written		—			(219,660	)		—		(219,660	)
Swap Contracts		—			—			7,615,169		7,615,169
U.S. Treasury Securities		29,071,240			—			—		29,071,240
Equinox Frontier Masters Fund
Investment in Unconsolidated Trading Companies		8,598,866			168,654			—		8,767,520
U.S. Treasury Securities		11,913,754			—			—		11,913,754
Equinox Frontier Long/Short Commodity Fund
Swap Contracts		—			—			4,304,209		4,304,209
Investment in Unconsolidated Trading Companies		3,516,988			380,006			—		3,896,994
U.S. Treasury Securities		6,743,330			—			—		6,743,330
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		(778,963	)		—			—		(778,963	)
Swap Contracts		—			—			18,491,634		18,491,634
Investment in Unconsolidated Trading Companies		13,892,904			440,892			—		14,333,796
U.S. Treasury Securities		47,350,232			—			—		47,350,232
Equinox Frontier Select Fund										—
Open Trade Equity (Deficit)		55,956			—			—		55,956
Investment in Unconsolidated Trading Companies		373,618			—			3,639,651		4,013,269
U.S. Treasury Securities		2,415,549			—			—		2,415,549
Equinox Frontier Winton Fund
Investment in Unconsolidated Trading Companies		6,544,957			204,082			—		6,749,039
U.S. Treasury Securities		25,617,478			—					25,617,478
Equinox Frontier Heritage Fund
Swap Contracts		—			—			7,809,251		7,809,251
Investment in Unconsolidated Trading Companies		1,361,243			36,800			—		1,398,043
U.S. Treasury Securities		5,706,384			—			—		5,706,384

December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Equinox Frontier Diversified Fund
Investments in Unconsolidated Trading Companies	$	6,631,887	$	(37,508	)	$	—	$	6,594,379
Open Trade Equity (Deficit)		3,171,968		43,238			—		3,215,206
Options Purchased		—		288,413			—		288,413
Options Written		—		(253,018	)		—		(253,018	)
Swap Contracts		—		—			6,570,408		6,570,408
U.S. Treasury Securities		31,051,659		—			—		31,051,659
Equinox Frontier Masters Fund
Investments in Unconsolidated Trading Companies		7,942,166		(40,188	)		—		7,901,978
U.S. Treasury Securities		16,217,173		—			—		16,217,173
Equinox Frontier Long/Short Commodity Fund
Investments in Unconsolidated Trading Companies		3,789,466		25,388			—		3,814,854
Swap Contracts		—		—			3,633,060		3,633,060
U.S. Treasury Securities		8,191,519		—			—		8,191,519
Equinox Frontier Balanced Fund
Open Trade Equity (Deficit)		3,717,291		(419,742	)		—		3,297,549
Investments in Unconsolidated Trading Companies		18,354,685		(10,758	)		—		18,343,927
Swap Contracts		—		—			18,246,954		18,246,954
U.S. Treasury Securities		41,625,860		—			—		41,625,860
Equinox Frontier Select Fund
Investments in Unconsolidated Trading Companies		4,591,569		(28,926	)		3,539,498		8,102,141
U.S. Treasury Securities		6,476,939		—			—		6,476,939
Equinox Frontier Winton Fund
Investments in Unconsolidated Trading Companies		7,656,170		(176,512	)		—		7,479,658
U.S. Treasury Securities		29,593,974					—		29,593,974
Equinox Frontier Heritage Fund
Investments in Unconsolidated Trading Companies		1,576,952		(33,566	)		—		1,543,386
Swap Contracts		—		—			7,540,465		7,540,465
U.S. Treasury Securities		6,796,392		—					6,796,392

Change in Level 3 Assets Measured at Fair Value on Recurring Basis

During the six months ended June 30, 2015 and year ended December 31, 2014, all identified Level 3 assets are components of the Equinox Frontier Diversified Fund, Equinox Frontier Long/Short Commodity Fund, Equinox Frontier Balanced Fund, Equinox Frontier Select Fund, and Equinox Frontier Heritage Fund.

For the Six Months Ended June 30, 2015

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	6,570,408	$	3,633,060		$	18,246,954
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		1,044,761		(328,851	)		244,680
Purchases of investments		—		1,000,000			—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—			—
Transfers in and/or out of Level 3		—		—			—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,615,169	$	4,304,209		$	18,491,634

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	7,540,465
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		268,786
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	7,809,251

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2015	$	3,539,498
Change in fair value of investments in unconsolidated trading companies		100,153
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	3,639,651

For the Year Ended December 31, 2014

Swaps:

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	3,437,632	$	2,456,546	$	10,122,003
Total gains or losses (realized/unrealized):
Included in earnings-realized		—		—
Included in earnings-unrealized		3,132,776		1,176,514		8,124,951
Purchases of investments		—		—		—
Sales of investments		—		—
Change in ownership allocation of total return swaps		—		—		—
Transfers in and/or out of Level 3		—		—		—
Balance of recurring Level 3 assets as of December 31, 2014	$	6,570,408	$	3,633,060	$	18,246,954

	Equinox Frontier Heritage Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	5,435,184
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		2,105,281
Purchases of investments		—
Sales of investments		—
Change in ownership allocation of total return swaps		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	7,540,465

Investments in Unconsolidated Trading Companies:

	Equinox Frontier Select Fund
Balance of recurring Level 3 assets as of January 1, 2014	$	2,415,637
Change in fair value of investments in unconsolidated trading companies		1,123,861
Proceeds from sales of investments of unconsolidated trading companies		—
Purchases of investments of unconsolidated trading companies		—
Change in ownership allocation		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	3,539,498

Change in Unrealized Appreciation (Depreciation) included in Statements of Operations Attributable to Level 3 Investments

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund			Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	1,044,760	$	(328,851	)	$	244,680	$	268,786

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

	Equinox Frontier Diversified Fund		Equinox Frontier Long/Short Commodity Fund		Equinox Frontier Balanced Fund		Equinox Frontier Heritage Fund
Swaps	$	3,132,776	$	1,176,514	$	8,120,996	$	2,105,281

Equinox Frontier Funds [Member]

Financial Asset Portfolio, by Series, Measured at Fair Value on Recurring Basis

The following table summarizes the instruments that comprise the Trust’s financial asset portfolio, by Series, measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:

June 30, 2015	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	70,482	$	(87,763	)	$	—	$	(17,281	)
Swap Contracts		—		—			38,220,263		38,220,263
U.S. Treasury Securities		128,817,968		—			—		128,817,968
Purchased Options		—		3,819,429			—		3,819,429
Written Options		—		(2,581,870	)		—		(2,581,870	)
December 31, 2014	Level 1 Inputs		Level 2 Inputs			Level 3 Inputs		Total Fair Value
Open Trade Equity (Deficit)	$	15,756,796	$	(932,374	)	$	—	$	14,824,422
Swap Contracts		—		—			35,990,887		35,990,887
U.S. Treasury Securities		139,953,516		—			—		139,953,516
Purchased Options		—		9,075,883			—		9,075,883
Written Options		—		(8,963,838	)		—		(8,963,838	)

Change in Level 3 Assets Measured at Fair Value on Recurring Basis

The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net realized and net unrealized gain/(loss) on swap contracts” on the statements of operations.

	For the Six Months Ended June 30, 2015
Balance of recurring Level 3 assets as of January 1, 2015	$	35,990,887
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		1,229,376
Purchases of investments		1,000,000
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of June 30, 2015	$	38,220,263
	For the Year Ended December 31, 2014
Balance of recurring Level 3 assets as of January 1, 2014	$	21,455,529
Total gains or losses (realized/unrealized):
Included in earnings-realized		—
Included in earnings-unrealized		14,535,358
Purchases of investments		—
Sales of investments		—
Transfers in and/or out of Level 3		—
Balance of recurring Level 3 assets as of December 31, 2014	$	35,990,887

Change in Unrealized Appreciation (Depreciation) included in Statements of Operations Attributable to Level 3 Investments

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2015.

Swaps $ 1,229,375

The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2014.

Swaps $ 14,535,358