WINNING INVESTMENTS with EXCHANGE-TRADED FUNDS

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Hypothetical Test Results
How the Number of Funds Held Affects Returns
3.8 Years from June 28, 2002 to April 13, 2006

qty

%/yr

cumul

ddwn

CF

1

24.0

125.9

-30.9

4

2

36.3

223.2

-16.9

13

3

34.0

203.6

-15.9

13

4

30.3

172.6

-13.1

13

5

29.6

167.1

-13.1

13

6

30.6

175.3

-11.1

16

7

28.4

157.8

-15.2

10

8

27.1

148.2

-15.2

10

9

26.7

145.4

-15.2

10

10

24.6

130.3

-15.2

9





Legend
qty       Number of funds held, sorted by rank
%/yr    Annual profit excluding dividends, interest, costs
cumul  Total percent gain over period
ddwn   Worst percent drawdown
CF       The Copernicus Factor


See Explanatory Notes




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