ETF Model

SiAlpha underperformed by 5.15% in 1st Quarter of 2009 by generating a total return of -18.99% vs. a return of -13.84% for S&P 500 during the same period. Cumulative Benchmark Comparison

SiAlpha underperformed by 2.41% in 4th Quarter of 2008 by generating a total return of -16.24% vs. a return of -13.84% for S&P 500 during the same period. Cumulative Benchmark Comparison

SiAlpha outperformed by 1.38% in 3rd Quarter of 2008 by generating a total return of -7.75% vs. a return of -9.13% for S&P 500 during the same period. Cumulative Benchmark Comparison

SiAlpha outperformed by 1.89% in 2nd Quarter of 2008 by generating a total return of -3.96% vs. a return of -5.85% for S&P 500 during the same period. Cumulative Benchmark Comparison

SiAlpha outperformed by 3.04% in 1st Quarter of 2008 by generating a total return of -5.45% vs. a return of -8.49% for S&P 500 during the same period. Cumulative Benchmark Comparison