[Highlights and Commentary]

Most Alarming 3-ALARM Funds
(Fund data as of May 31, 2009)

To identify the most alarming 3-ALARM funds, we examine the performance of each 3-ALARM fund in this month's database versus its respective benchmark. We give three-year performance versus benchmark a 30% weight, and we weight five-year performance 70%. We then add these two weightings for an overall "Weighted Performance Rating." The Weighted Performance Rating is useful for comparing comparative ugliness within each benchmark category, but isn't meaningful when used to compare funds in different categories.

The following table lists up to 50 funds within each benchmark category (except the Specialty category, where we list up to 10 funds in each of the eight sub-categories). The most alarming fund in each category is listed first, the next most alarming, and so on.

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View an alphabetical listing of this month's most-alarming funds

3-ALARM FundWeighted
Performance
Rating
Benchmark
ProFunds UltraMid Cap Inv (UMPIX) -13 Dreyf MidCap Idx
Legg Mason Opportunity C (LMOPX) -11.7 Dreyf MidCap Idx
Legg Mason Opportunity F.I. (LMOFX) -11.3 Dreyf MidCap Idx
Legg Mason Opportunity Instl (LMNOX) -10.8 Dreyf MidCap Idx
SunAmerica New Century B (SEGBX) -8.8 Dreyf MidCap Idx
SunAmerica New Century C (SEGCX) -8.6 Dreyf MidCap Idx
Rydex Mid-Cap 1.5x Strategy C (RYDCX) -8.3 Dreyf MidCap Idx
SunAmerica New Century A (SEGAX) -8.1 Dreyf MidCap Idx
MFS Mid Cap Growth B (OTCBX) -8 Dreyf MidCap Idx
MFS Mid Cap Growth C (OTCCX) -8 Dreyf MidCap Idx
Oppenheimer Mid Cap B (OMDBX) -8 Dreyf MidCap Idx
Oppenheimer Mid Cap C (OMDCX) -8 Dreyf MidCap Idx
Rydex Mid-Cap 1.5x Strategy H (RYMDX) -7.6 Dreyf MidCap Idx
Fidelity Select Automotive (FSAVX) -7.4 Dreyf MidCap Idx
MFS Mid Cap Growth A (OTCAX) -7.3 Dreyf MidCap Idx
Oppenheimer Mid Cap A (OMDAX) -7.3 Dreyf MidCap Idx
Rydex S&P 500 Pure Value H (RYZAX) -7.3 Dreyf MidCap Idx
Value Line (VLIFX) -7 Dreyf MidCap Idx
Ariel (ARGFX) -6.7 Dreyf MidCap Idx
Schneider Value (SCMLX) -6.7 Dreyf MidCap Idx
Legg Mason Spec Investment C (LMASX) -6.6 Dreyf MidCap Idx
BlackRock Aurora Inv B (SSRPX) -6.4 Dreyf MidCap Idx
BlackRock Aurora Inv C (SSRDX) -6.4 Dreyf MidCap Idx
Bridgeway Aggressive Inv 1 (BRAGX) -6 Dreyf MidCap Idx
Kirr Marbach Partners Value (KMVAX) -6 Dreyf MidCap Idx
Rydex Leisure Inv (RYLIX) -6 Dreyf MidCap Idx
Aston/Veredus Aggressive Growth N (VERDX) -5.9 Dreyf MidCap Idx
Virtus Mid-Cap Growth B (PSKBX) -5.8 Dreyf MidCap Idx
BlackRock Aurora Inv A (SSRAX) -5.7 Dreyf MidCap Idx
AllianceBernstein Small-Mid Cap Growth B (CHCBX) -5.3 Dreyf MidCap Idx
AllianceBernstein Small-Mid Cap Growth C (CHCCX) -5.2 Dreyf MidCap Idx
Allianz NFJ All-CapValue Admin (PNCAX) -5.1 Dreyf MidCap Idx
Virtus Mid-Cap Growth A (PHSKX) -5.1 Dreyf MidCap Idx
Fidelity Mid Cap Growth (FSMGX) -5 Dreyf MidCap Idx
Columbia Mid Cap Core Z (UMVEX) -4.9 Dreyf MidCap Idx
Fidelity Adv Value Strat B (FASBX) -4.9 Dreyf MidCap Idx
ProFunds Basic Materials UltraSector Inv (BMPIX) -4.9 Dreyf MidCap Idx
Quaker Mid-Cap Value A (QMCVX) -4.9 Dreyf MidCap Idx
Dreyfus New Leaders A (DNLDX) -4.8 Dreyf MidCap Idx
Pioneer Mid-Cap Growth B (PBMDX) -4.8 Dreyf MidCap Idx
Putnam Vista B (PVTBX) -4.7 Dreyf MidCap Idx
Pioneer Mid-Cap Growth C (PCMCX) -4.6 Dreyf MidCap Idx
AllianceBernstein Small-Mid Cap Growth A (CHCLX) -4.5 Dreyf MidCap Idx
Putnam Vista M (PVIMX) -4.5 Dreyf MidCap Idx
Sentinel Mid-Cap Growth B (SMGBX) -4.5 Dreyf MidCap Idx
RS MidCap Opportunities A (RSMOX) -4.4 Dreyf MidCap Idx
Rydex Transportation Inv (RYPIX) -4.4 Dreyf MidCap Idx
Fidelity Adv Value Strat T (FASPX) -4.3 Dreyf MidCap Idx
Marketocracy Masters 100 (MOFQX) -4.2 Dreyf MidCap Idx
Fidelity Adv Value Strat A (FSOAX) -4.1 Dreyf MidCap Idx
     
ProFunds UltraJapan Inv (UJPIX) -21.6 Schwab Intl Idx
Rydex/SGI Global 130/30 Strategy H (RYQMX) -7.5 Schwab Intl Idx
Credit Suisse Intl Equity Flex II Adv (WPVAX) -7.4 Schwab Intl Idx
AllianceBernstein Global Growth Adv (ABZYX) -7.2 Schwab Intl Idx
Credit Suisse Intl Equity Flex II A (CPVAX) -7.2 Schwab Intl Idx
DWS Japan Equity S (FJESX) -7.2 Schwab Intl Idx
Rydex Europe 1.25x Strategy H (RYEUX) -7.2 Schwab Intl Idx
T. Rowe Price Japan (PRJPX) -7.2 Schwab Intl Idx
Credit Suisse Intl Equity Flex II Comm (WVCCX) -7.1 Schwab Intl Idx
Hartford Intl Growth A (HNCAX) -6.4 Schwab Intl Idx
Columbia Global Value C (NCGLX) -6.2 Schwab Intl Idx
Hartford Global Growth C (HGLCX) -6.2 Schwab Intl Idx
Allianz RCM Global Small Cap D (DGSNX) -5.9 Schwab Intl Idx
Hartford Intl Grth HLS IA (HNCIX) -5.7 Schwab Intl Idx
Seligman Global Growth A (SHGOX) -5.7 Schwab Intl Idx
Calvert Intl Eq C (CWVCX) -5.6 Schwab Intl Idx
Polaris Global Value (PGVFX) -5.6 Schwab Intl Idx
Hartford Global Growth A (HALAX) -5.5 Schwab Intl Idx
Templeton Growth C (TEGTX) -5.4 Schwab Intl Idx
Morgan Stanley Global Div Growth C (GLBCX) -5.3 Schwab Intl Idx
SEI International Trust Equity A (SEITX) -5.3 Schwab Intl Idx
Goldman Sachs Intl Small Cap C (GISCX) -5.1 Schwab Intl Idx
Lazard Intl Small Cap Equity Open (LZSMX) -5.1 Schwab Intl Idx
Virtus Global Opptys A (NWWOX) -5 Schwab Intl Idx
Hartford Global Growth HLS IA (HIALX) -4.9 Schwab Intl Idx
Calvert Intl Eq A (CWVGX) -4.8 Schwab Intl Idx
Lazard Intl Small Cap Equity Instl (LZISX) -4.8 Schwab Intl Idx
Seligman Global Sm Co B (SHGBX) -4.8 Schwab Intl Idx
Dreyfus Passport B (FPSBX) -4.7 Schwab Intl Idx
PL Intl Value A (PFAIX) -4.7 Schwab Intl Idx
AllianceBernstein International Value C (ABICX) -4.6 Schwab Intl Idx
Bernstein Tax-Managed Intl (SNIVX) -4.6 Schwab Intl Idx
Morgan Stanley Global Div Growth A (GLBAX) -4.6 Schwab Intl Idx
Morgan Stanley Global Div Growth B (GLBBX) -4.6 Schwab Intl Idx
RiverSource Partners Intl Small Cap A (AISCX) -4.4 Schwab Intl Idx
Morgan Stanley Global Div Growth I (GLBDX) -4.3 Schwab Intl Idx
Goldman Sachs Concent Intl Equity B (GSEBX) -4.2 Schwab Intl Idx
Goldman Sachs Concent Intl Equity C (GSICX) -4.2 Schwab Intl Idx
Putnam Global Equity B (PEQBX) -4.2 Schwab Intl Idx
Transamerica Partners Intl Equity (DVIEX) -4.1 Schwab Intl Idx
Legg Mason Partners Global Equity A (CFIPX) -4 Schwab Intl Idx
Seligman Global Sm Co A (SHGAX) -4 Schwab Intl Idx
AllianceBernstein International Value A (ABIAX) -3.9 Schwab Intl Idx
AllianceBernstein International Value K (AIVKX) -3.9 Schwab Intl Idx
AIM Global Equity A (GTNDX) -3.8 Schwab Intl Idx
Dreyfus Global Growth F (FWWGX) -3.8 Schwab Intl Idx
Federated Intl Equity B (FIEBX) -3.8 Schwab Intl Idx
Federated Intl Equity C (FIECX) -3.8 Schwab Intl Idx
Transamerica Templeton Global B (IGLWX) -3.8 Schwab Intl Idx
Goldman Sachs Equity Growth Strat B (GAPBX) -3.7 Schwab Intl Idx
     
ProFunds UltraSector Mobile Telecom Svc (WCPSX) -30.1 Specialty-Commun
ProFunds UltraSector Mobile Telecom Inv (WCPIX) -29.4 Specialty-Commun
ProFunds Telecom UltraSector Svc (TCPSX) -4.1 Specialty-Commun
ProFunds Telecom UltraSector Inv (TCPIX) -3.2 Specialty-Commun
     
ProFunds UltraSector Financial Svc (FNPSX) -19.9 Specialty-Financial
ProFunds UltraSector Financial Inv (FNPIX) -19.2 Specialty-Financial
Fidelity Select Home Finance (FSVLX) -17.8 Specialty-Financial
AIM Financial Services C (IFSCX) -10.3 Specialty-Financial
AIM Financial Services Inv (FSFSX) -9.7 Specialty-Financial
Rydex Banking Adv (RYKAX) -8.8 Specialty-Financial
Rydex Banking Inv (RYKIX) -8.4 Specialty-Financial
Senbanc (SENBX) -8.2 Specialty-Financial
North Track Dow Jones US Fin 100 A (NDUAX) -5.9 Specialty-Financial
Wells Fargo Adv Spec Financial Svcs B (SIFBX) -5.6 Specialty-Financial
     
ProFunds Pharmaceuticals UltraSector Svc (PHPSX) -9.7 Specialty-Health
ProFunds Pharmaceuticals UltraSector Inv (PHPIX) -8.8 Specialty-Health
ProFunds UltraSector Health Care Svc (HCPSX) -7.1 Specialty-Health
ProFunds UltraSector Health Care Inv (HCPIX) -6.2 Specialty-Health
JHancock Health Sci B (JHRBX) -4 Specialty-Health
JHancock Health Sci C (JHRCX) -4 Specialty-Health
JHancock Health Sci A (JHGRX) -3.3 Specialty-Health
Munder Healthcare B (MFHBX) -3.2 Specialty-Health
Munder Healthcare C (MFHCX) -3.2 Specialty-Health
Allianz RCM Wellness D (DGHCX) -2.9 Specialty-Health
     
ProFunds Precious Metals UltraSector Inv (PMPIX) -12.4 Specialty-Metals
Midas (MIDSX) -7.9 Specialty-Metals
Rydex Precious Metals C (RYZCX) -7.5 Specialty-Metals
Rydex Precious Metals Inv (RYPMX) -6.4 Specialty-Metals
Vanguard Precious Metals and Mining (VGPMX) -5 Specialty-Metals
DWS Gold & Precious Metals B (SGDBX) -3.7 Specialty-Metals
DWS Gold & Precious Metals C (SGDCX) -3.7 Specialty-Metals
U.S. Global Inv World Prec Min (UNWPX) -3.7 Specialty-Metals
DWS Gold & Precious Metals A (SGDAX) -2.9 Specialty-Metals
DWS Gold & Precious Metals S (SCGDX) -2.6 Specialty-Metals
     
Oppenheimer Commodity Strat Tot Ret B (QRABX) -17.8 Specialty-NatRes
Oppenheimer Commodity Strat Tot Ret C (QRACX) -17.8 Specialty-NatRes
Oppenheimer Commodity Strat Tot Ret A (QRAAX) -17 Specialty-NatRes
Oppenheimer Commodity Strat Tot Ret Y (QRAYX) -16.6 Specialty-NatRes
PIMCO Commodity Real Ret Strat B (PCRBX) -9.6 Specialty-NatRes
PIMCO Commodity Real Ret Strat C (PCRCX) -9.6 Specialty-NatRes
PIMCO Commodity Real Ret Strat A (PCRAX) -8.9 Specialty-NatRes
PIMCO Commodity Real Ret Strat D (PCRDX) -8.9 Specialty-NatRes
PIMCO Commodity Real Ret Strat Admin (PCRRX) -8.6 Specialty-NatRes
PIMCO Commodity Real Ret Strat Instl (PCRIX) -8.4 Specialty-NatRes
     
ProFunds Real Estate UltraSector Svc (REPSX) -16.9 Specialty-RealEst
ProFunds Real Estate UltraSector Inv (REPIX) -16.2 Specialty-RealEst
Alpine U.S. Real Estate Eqty (EUEYX) -10.1 Specialty-RealEst
Kensington Strategic Realty B (KSRBX) -9.6 Specialty-RealEst
Kensington Strategic Realty C (KSRCX) -9.6 Specialty-RealEst
Kensington Strategic Realty A (KSRAX) -8.9 Specialty-RealEst
Seligman LaSalle Monthly Div Real Est C (SRECX) -8.2 Specialty-RealEst
Seligman LaSalle Monthly Div Real Est I (SREIX) -7 Specialty-RealEst
Franklin Real Estate Secur C (FRRSX) -6.7 Specialty-RealEst
Spirit of America Real Estate Inc & Growth A (SOAAX) -6.7 Specialty-RealEst
     
ProFunds Semiconductor UltraSector Svc (SMPSX) -18.5 Specialty-Tech
ProFunds Semiconductor UltraSector Inv (SMPIX) -17.7 Specialty-Tech
Rydex Electronics Adv (RYSAX) -9.2 Specialty-Tech
Rydex Electronics Inv (RYSIX) -8.8 Specialty-Tech
ProFunds Technology UltraSector Svc (TEPSX) -6.8 Specialty-Tech
Fidelity Adv Electronics B (FELBX) -6.7 Specialty-Tech
Fidelity Adv Electronics C (FELCX) -6.6 Specialty-Tech
Fidelity Adv Electronics T (FELTX) -6.2 Specialty-Tech
Fidelity Adv Electronics A (FELAX) -6 Specialty-Tech
ProFunds Technology UltraSector Inv (TEPIX) -5.9 Specialty-Tech
     
ProFunds Utilities UltraSector Svc (UTPSX) -6.5 Specialty-Utils
ProFunds Utilities UltraSector Inv (UTPIX) -5.5 Specialty-Utils
Fidelity Telecom & Utilities (FIUIX) -2.8 Specialty-Utils
Van Kampen Utility B (VKUBX) -2.6 Specialty-Utils
Van Kampen Utility C (VKUCX) -2.6 Specialty-Utils
Jennison Utility B (PRUTX) -2.5 Specialty-Utils
Jennison Utility C (PCUFX) -2.5 Specialty-Utils
Van Kampen Utility A (VKUAX) -1.9 Specialty-Utils
Fidelity Adv Utilities B (FAUBX) -1.8 Specialty-Utils
Fidelity Select Utilities Growth (FSUTX) -1.8 Specialty-Utils
     
Rydex S&P 500 2x Strategy H (RYTNX) -13.9 Vang 500 Idx
ProFunds UltraBull Inv (ULPIX) -13.6 Vang 500 Idx
ProFunds Ultra Dow 30 Inv (UDPIX) -11.5 Vang 500 Idx
ProFunds Ultra NASDAQ-100 Svc (UOPSX) -9.9 Vang 500 Idx
ProFunds Ultra NASDAQ-100 Inv (UOPIX) -9.2 Vang 500 Idx
Rydex Dynamic NASDAQ-100 2x Strategy H (RYVYX) -9.1 Vang 500 Idx
Legg Mason Value C (LMVTX) -8.8 Vang 500 Idx
ProFunds Industrial Ultra Sector Inv (IDPIX) -8.7 Vang 500 Idx
Legg Mason Growth C (LMGTX) -8.6 Vang 500 Idx
Legg Mason Partners Multi Disc All Cap Growth & Value B (SPBBX) -8.4 Vang 500 Idx
Legg Mason Partners Multi Disc All Cap Growth & Value C (SPBLX) -8.2 Vang 500 Idx
Legg Mason Value FI (LMVFX) -8.2 Vang 500 Idx
Metro West AlphaTrak 500 (MWATX) -8.1 Vang 500 Idx
Legg Mason Growth Trust F.I. (LMGFX) -8 Vang 500 Idx
Legg Mason Value Instl (LMNVX) -8 Vang 500 Idx
Markman Core Growth I (MTRPX) -8 Vang 500 Idx
Fidelity Growth & Income (FGRIX) -7.9 Vang 500 Idx
Legg Mason Partners All Cap 1 (LMGOX) -7.6 Vang 500 Idx
Rydex Nova Inv (RYNVX) -6.9 Vang 500 Idx
JHancock Classic Value B (JCVBX) -6.8 Vang 500 Idx
JHancock Classic Value C (JCVCX) -6.8 Vang 500 Idx
Legg Mason Amer Leading Co C (LMALX) -6.4 Vang 500 Idx
Thompson Plumb Growth (THPGX) -6.4 Vang 500 Idx
JHancock Classic Value A (PZFVX) -6.2 Vang 500 Idx
Hotchkis and Wiley Large Cap Value C (HWLCX) -6 Vang 500 Idx
Fifth Third Structured Large Cap Plus A (KNVIX) -5.9 Vang 500 Idx
Fifth Third Structured Large Cap Plus I (KNVEX) -5.7 Vang 500 Idx
AIM Large Cap Basic Value Inv (LCINX) -5.5 Vang 500 Idx
Clipper (CFIMX) -5.4 Vang 500 Idx
Hotchkis and Wiley Large Cap Value A (HWLAX) -5.4 Vang 500 Idx
Matthew 25 (MXXVX) -5.4 Vang 500 Idx
Seligman Common Stock A (SCSFX) -5.4 Vang 500 Idx
AIM Basic Value B (GTVBX) -5.2 Vang 500 Idx
AIM Basic Value C (GTVCX) -5.2 Vang 500 Idx
Hotchkis and Wiley Large Cap Value I (HWLIX) -5.2 Vang 500 Idx
MFS Strategic Value B (MSVLX) -4.9 Vang 500 Idx
Nuveen NWQ Multi Cap Value B (NQVBX) -4.9 Vang 500 Idx
Nuveen NWQ Multi Cap Value C (NQVCX) -4.9 Vang 500 Idx
AssetMark Large Cap Value (AFLVX) -4.7 Vang 500 Idx
Federated American Leaders B (FALBX) -4.7 Vang 500 Idx
Federated American Leaders C (FALCX) -4.7 Vang 500 Idx
State Farm Equity A Legacy (SLEAX) -4.7 Vang 500 Idx
AIM Basic Value A (GTVLX) -4.6 Vang 500 Idx
Transamerica Partners Large Value (DVEIX) -4.5 Vang 500 Idx
AllianceBernstein Value C (ABVCX) -4.4 Vang 500 Idx
MFS Strategic Value A (MSVTX) -4.3 Vang 500 Idx
Olstein All Cap Value C (OFALX) -4.3 Vang 500 Idx
RiverSource Large Cap Equity B (ALEBX) -4.3 Vang 500 Idx
Nuveen NWQ Multi Cap Value A (NQVAX) -4.2 Vang 500 Idx
Transamerica Partners Instl Large Value (DIVIX) -4.2 Vang 500 Idx
     
Oppenheimer Balanced B (OASBX) -7.9 Vang Bal Idx
Oppenheimer Balanced C (OASCX) -7.8 Vang Bal Idx
Oppenheimer Capital Income B (OPEBX) -7.1 Vang Bal Idx
Oppenheimer Balanced A (OPASX) -7 Vang Bal Idx
Oppenheimer Capital Income C (OPECX) -7 Vang Bal Idx
George Putnam of Boston B (PGEBX) -6.7 Vang Bal Idx
George Putnam of Boston M (PGEMX) -6.5 Vang Bal Idx
Oppenheimer Capital Income A (OPPEX) -6.3 Vang Bal Idx
ICON Long Short I (IOLIX) -6.2 Vang Bal Idx
Evergreen Diversified Capital Builder B (EKBBX) -6.1 Vang Bal Idx
George Putnam of Boston A (PGEOX) -6 Vang Bal Idx
IMS Strategic Allocation (IMSAX) -5.9 Vang Bal Idx
George Putnam of Boston Y (PGEYX) -5.8 Vang Bal Idx
AIM Basic Balanced A (BBLAX) -5.5 Vang Bal Idx
AIM Basic Balanced Inv (BBLTX) -5.5 Vang Bal Idx
Evergreen Diversified Capital Builder A (EKBAX) -5.5 Vang Bal Idx
Franklin Mutual Recovery A (FMRAX) -5.4 Vang Bal Idx
Old Mutual Analytic Defensive Equity Z (ANDEX) -5.3 Vang Bal Idx
Evergreen Diversified Capital Builder I (EKBYX) -5.2 Vang Bal Idx
Oppenheimer Quest Bal B (QGRBX) -4.9 Vang Bal Idx
UBS U.S. Alloc B (PWTBX) -4.9 Vang Bal Idx
Oppenheimer Quest Bal C (QGRCX) -4.8 Vang Bal Idx
UBS U.S. Alloc C (KPAAX) -4.7 Vang Bal Idx
Fidelity Adv Freedom 2040 C (FCFFX) -4.5 Vang Bal Idx
Templeton Global Lg Sh A (TLSAX) -4.5 Vang Bal Idx
Vantagepoint Asset Alloc (VPAAX) -4.5 Vang Bal Idx
ING Strategic Alloc Growth I (ASCEX) -4.3 Vang Bal Idx
Legg Mason Partners Lifestyle Allocation 70% B (SGRBX) -4.3 Vang Bal Idx
SAAT Aggressive Strategy A (SSGAX) -4.3 Vang Bal Idx
Vanguard Asset Allocation (VAAPX) -4.2 Vang Bal Idx
Dreyfus Balanced Oppty B (DBOBX) -4.1 Vang Bal Idx
Fidelity Adv Freedom 2030 B (FBFEX) -4.1 Vang Bal Idx
Oppenheimer Quest Bal A (QVGIX) -4.1 Vang Bal Idx
Vanguard Asset Allocation Adm (VAARX) -4.1 Vang Bal Idx
Fidelity Adv Freedom 2040 T (FTFFX) -4 Vang Bal Idx
UBS U.S. Alloc A (PWTAX) -4 Vang Bal Idx
Franklin Templeton Founding Allocation C (FFACX) -3.9 Vang Bal Idx
State Farm LifePath 2040 B Legacy (SAUBX) -3.9 Vang Bal Idx
Calvert Social Inv Bal B (CSLBX) -3.8 Vang Bal Idx
Fidelity Adv Freedom 2035 T (FTTHX) -3.8 Vang Bal Idx
Fidelity Adv Freedom 2040 A (FAFFX) -3.8 Vang Bal Idx
Principal LifeTime 2050 R2 (PTENX) -3.8 Vang Bal Idx
Principal LifeTime 2030 B (PTCBX) -3.7 Vang Bal Idx
USAA Balanced Strategy (USBSX) -3.7 Vang Bal Idx
Wells Fargo Adv Asset Alloc B (SASBX) -3.7 Vang Bal Idx
Fidelity Adv Freedom 2030 T (FTFEX) -3.6 Vang Bal Idx
Legg Mason Partners Capital Income C (SBPLX) -3.6 Vang Bal Idx
Legg Mason Partners Lifestyle Allocation 70% A (SCGRX) -3.6 Vang Bal Idx
Principal LifeTime 2040 R2 (PTDNX) -3.6 Vang Bal Idx
Principal LifeTime 2050 R3 (PTERX) -3.6 Vang Bal Idx
     
Frontier MicroCap (FEFPX) -33.2 Vang SmCap Idx
ProFunds UltraSmall Cap Inv (UAPIX) -17.3 Vang SmCap Idx
Oberweis Emerging Growth (OBEGX) -8.9 Vang SmCap Idx
Rockland Small Cap Growth (RKGRX) -8.8 Vang SmCap Idx
Rydex Russell 2000 1.5x Strategy H (RYMKX) -8.4 Vang SmCap Idx
SSgA Small Cap (SVSCX) -8.4 Vang SmCap Idx
Calvert New Vision Small Cap A (CNVAX) -8.1 Vang SmCap Idx
Dreyfus Emerging Leaders (DRELX) -7.3 Vang SmCap Idx
Hotchkis and Wiley Small Cap Value A (HWSAX) -7.2 Vang SmCap Idx
Oberweis Micro-Cap (OBMCX) -7.2 Vang SmCap Idx
Munder Small-Cap Value B (MCVBX) -7.1 Vang SmCap Idx
Munder Small-Cap Value C (MCVCX) -7.1 Vang SmCap Idx
Virtus Small-Cap Growth B (PSMGX) -7.1 Vang SmCap Idx
Hotchkis and Wiley Small Cap Value I (HWSIX) -7 Vang SmCap Idx
Hennessy Cornerstone Growth (HFCGX) -6.9 Vang SmCap Idx
MainStay Small Cap Growth B (MSOBX) -6.8 Vang SmCap Idx
Munder Micro-Cap Equity B (MMEBX) -6.8 Vang SmCap Idx
Munder Micro-Cap Equity C (MMECX) -6.8 Vang SmCap Idx
DWS Small Cap Growth A (SSDAX) -6.7 Vang SmCap Idx
Bridgeway Micro-Cap Limited (BRMCX) -6.5 Vang SmCap Idx
Munder Small-Cap Value A (MNVAX) -6.5 Vang SmCap Idx
Munder Small-Cap Value K (MCVKX) -6.5 Vang SmCap Idx
Allegiant Multi-Factor Sm Cap Value A (AMRRX) -6.4 Vang SmCap Idx
Virtus Small-Cap Growth A (PAMAX) -6.4 Vang SmCap Idx
Goldman Sachs Structured Sm Cap Equity B (GCSBX) -6.3 Vang SmCap Idx
Target Small Cap Growth (TASGX) -6.3 Vang SmCap Idx
Wasatch Ultra Growth (WAMCX) -6.3 Vang SmCap Idx
CNI Charter RCB Small Cap Value R (RCBSX) -6.2 Vang SmCap Idx
Munder Small-Cap Value Y (MCVYX) -6.2 Vang SmCap Idx
Allegiant Multi-Factor Sm Cap Value I (AMRIX) -6.1 Vang SmCap Idx
MainStay Small Cap Growth A (MSMAX) -6.1 Vang SmCap Idx
Munder Micro-Cap Equity A (MMEAX) -6.1 Vang SmCap Idx
Munder Micro-Cap Equity K (MMEKX) -6.1 Vang SmCap Idx
Aegis Value (AVALX) -6 Vang SmCap Idx
Bridgeway Small Cap Growth (BRSGX) -5.9 Vang SmCap Idx
Putnam Small Cap Value B (PSLBX) -5.8 Vang SmCap Idx
Dreyfus Small Cap Value B (DSVBX) -5.7 Vang SmCap Idx
MainStay Small Cap Growth I (MSSIX) -5.7 Vang SmCap Idx
Laudus Rosenberg U.S. Small Cap Inv (BRSCX) -5.6 Vang SmCap Idx
SEI Instl Mgd Small Cap Growth A (SSCGX) -5.6 Vang SmCap Idx
American Century Small Co Adv (ASQAX) -5.5 Vang SmCap Idx
Laudus Rosenberg U.S. Small Cap Adv (LIFUX) -5.5 Vang SmCap Idx
RS Smaller Company Growth A (RSSGX) -5.5 Vang SmCap Idx
Schneider Small Cap Value (SCMVX) -5.5 Vang SmCap Idx
Virtus Disciplined Small Cap Opp A (HSCZX) -5.5 Vang SmCap Idx
Goldman Sachs Structured Sm Cap Equity I (GCSIX) -5.3 Vang SmCap Idx
Laudus Rosenberg U.S. Small Cap Instl (USCIX) -5.3 Vang SmCap Idx
Virtus Disciplined Small Cap Opp I (HSCIX) -5.3 Vang SmCap Idx
American Century Small Co Inv (ASQIX) -5.2 Vang SmCap Idx
Putnam Small Cap Growth A (PNSAX) -5.2 Vang SmCap Idx
Thanks to FundAlarm reader George Sawdy for his assistance in
developing the weighting system used in this table.