We produce a canonical filtration for locally free sheaves on an open p-adic annulus equipped with a Frobenius structure. Using this filtration, we deduce a conjecture of Crew on p-adic differential equations, analogous to Grothendieck’s local monodromy theorem (also a consequence of results of Andr´ and of Mebkhout). Namely, given a finite locally free sheaf on an open e p-adic annulus with a connection and a compatible Frobenius structure, the module admits a basis over a finite cover of the annulus on which the connection acts via a nilpotent matrix. .