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Roy's Portfolio (continued)

In terms of FundAlarm's benchmark categories, my portfolio breaks down as follows:

Roy's fund	FundAlarm benchmark
PIMCO RCM Global Technology D (DGTNX)	Specialty-Technology
Weitz Partners Value (WPVLX)	Vanguard 500 Index
Buffalo Small Cap (BUFSX)	Vanguard Small Cap Index
Vanguard Health Care (VGHCX)	Specialty-Health
Cohen & Steers Realty Shares (CSRSX)	Specialty-Real Estate
Vanguard European Stock Index (VEURX)	Schwab International Index
Vanguard Total Stock Market VIPERs (VTI)	Vanguard 500 Index
Vanguard 500 Index (VFINX)	Vanguard 500 Index
FBR Large Cap Financial(FBRFX)	Specialty-Financial
Bridgeway Ultra-Small Company Market (BRSIX)	Vanguard Small Cap Index

The following table shows each of my funds in bold, compared to the best- and worst-performing funds (as well as median fund) in their respective benchmark categories.....With the exception of FBR Large Cap Financial, each of my funds managed to beat the median fund in its category and, in one case (Buffalo Small Cap), my fund was in hailing distance of the best-performing fund.

Benchmark category	Best/median/ worst-performing fund (Roy's fund in bold)	2004 return (%)
Vang 500 Idx	Fidelity Select Construct & Housing (FSHOX)	28.52
	Weitz Partners Value (WPVLX)	14.99
	Vanguard Total Stock Market VIPERs (VTI)	12.56
	Vanguard 500 Index (VFINX)	10.74
	Median fund	10.53
	White Oak Growth Stock (WOGSX)	-3.21
Vang SmCap Idx	Keeley Small Cap Value (KSCVX)	32.94
	Buffalo Small Cap (BUFSX)	28.82
	Bridgeway Ultra-Small Company Market (BRSIX)	19.13
	Median fund	16.66
	Van Wagoner Emerging Growth (VWEGX)	-16.04
Schwab Intl Idx	U.S. Global Inv East Europe (EUROX)	52.37
	Vanguard European Stock Index (VEURX)	20.86
	Median fund	18.04
	Commonwealth Japan (CNJFX)	-3.1
Specialty-Financial	Merrill Global Fin Svcs I (MAFNX)	27.44
	Median fund	13.08
	FBR Large Cap Financial(FBRFX)	11.74
	Wells Fargo SIFE Financial Svcs B (SIFBX)	6.43
Specialty-Health	Fidelity Select Medical Delivery (FSHCX)	45.46
	Vanguard Health Care (VGHCX)	9.51
	Median fund	9.28
	ProFunds Ultra Pharmaceutic Svc (PHPSX)	-16.67
Specialty-RealEst	Morgan Stanley Instl Euro Real Est A (MSUAX)	47.49
	Cohen & Steers Realty Shares (CSRSX)	38.48
	Median fund	32.51
	Kensington Select Income A (KIFAX)	11.31
Specialty-Tech	Jacob Internet (JAMFX)	32.3
	PIMCO RCM Global Technology D (DGTNX)	17.46
	Median fund	2.17
	ProFunds Ultra Semiconductor Svc (SMPSX)	-35.41

If you'd like to see how your funds performed relative to their benchmark categories in 2004, here's the complete list of FundAlarm benchmarks, along with the best, worst, and median fund for the year within each benchmark category. Find the 12-month performance of your fund, from this month's FundAlarm data table, and slot your fund into the appropriate category, below.

Benchmark category	Best/median/ worst-performing fund)	2004 return (%)
Vang 500 Idx	Fidelity Select Construct & Housing (FSHOX)	28.52
	Median fund	10.53
	White Oak Growth Stock (WOGSX)	-3.21
Dreyf MidCap Idx	Baron Partners (BPTRX)	42.35
	Median fund	15.45
	Thurlow Growth (THRGX)	-33.63
Vang SmCap Idx	Keeley Small Cap Value (KSCVX)	32.94
	Median fund	16.66
	Van Wagoner Emerging Growth (VWEGX)	-16.04
Vang Bal Idx	Bruce (BRUFX)	57.19
	Median fund	8.27
	Rydex Venture 100 H (RYVNX)	-24.6
Schwab Intl Idx	U.S. Global Inv East Europe (EUROX)	52.37
	Median fund	18.04
	Commonwealth Japan (CNJFX)	-3.1
Specialty-Commun	ProFunds Ultra Mobile Telecom Inv (WCPIX)	66.85
	Median fund	16.52
	Fidelity Select Multimedia (FBMPX)	3.01
Specialty-Financial	Merrill Global Fin Svcs I (MAFNX)	27.44
	Median fund	13.08
	Wells Fargo SIFE Financial Svcs B (SIFBX)	6.43
Specialty-Health	Fidelity Select Medical Delivery (FSHCX)	45.46
	Median fund	9.28
	ProFunds Ultra Pharmaceutic Svc (PHPSX)	-16.67
Specialty-Metals	Vanguard Precious Metals and Mining (VGPMX)	8.09
	Median fund	-6.5
	ProFunds Ultra Prec Metals Inv (PMPIX)	-16.99
Specialty-NatRes	State St Research Global Res A (SSGRX)	47.62
	Median fund	26.92
	Fidelity Select Paper & Forest Pr (FSPFX)	8.00
Specialty-RealEst	Morgan Stanley Instl Euro Real Est A (MSUAX)	47.49
	Median fund	32.51
	Kensington Select Income A (KIFAX)	11.31
Specialty-Tech	Jacob Internet (JAMFX)	32.3
	Median fund	2.17
	ProFunds Ultra Semiconductor Svc (SMPSX)	-35.41
Specialty-Utils	ProFunds Ultra Utilities Inv (UTPIX)	31.85
	Median fund	23.13
	Gabelli Utilities AAA (GABUX)	15.59