This performance table displays annual total returns since 1980 for the 5 top ranked funds from the front page Star Boxes in Classes 1 through 4. This approach assumes an investor Upgraded to stay equally invested in each of the top five funds listed each month.
		For 25 years The Hulbert Financial Digest has tracked the results of investment newsletters, providing a third-party analysis of performance claims. NoLoad Fund*X is Hulbert's valedictorian. See how a portfolio of Class 3 Star Box funds compares against other newsletters through June 30, 2005.
		Staying with the winners pays. Upgrading monthly to the top five funds in the Class 3 Star Box over the past 22 years generated returns that widely outpaced the broad stock market, as measured by the S&P 500 Index.

Please Read This Important Notice:
As historical performance is not predictive, funds are reviewed periodically and may be moved to a different risk class if it is determined that recent performance justifies a change. Class 3 is our recommended risk category of higher quality no-load mutual funds that have historically demonstrated a risk profile similar to that of the S&P 500. The universe of funds in these four classes is not constant and includes both actively and passively managed funds. NoLoad Fund*X Classes 1, 2, 3 & 4 are model portfolios and do not reflect actual trading. DAL managed accounts experience different results.

As with all historical data, past performance is not an indication of future results. Investments in equity mutual funds such as those reflected in the performance figures above carry an inherent element of risk including the potential for an actual loss of principal. Hypothetical performance such as that shown above does not take into consideration a variety of real world factors including investment preferences or capital inflows and outflows and actual results may vary.