Capital Trading Group

Rankings by Calmar Ratio
For Traders Reporting Results as of Saturday, July 31, 2010

Untitled Document

Rank	Manager	3 Year Calmar Ratio	3 Year Annualized ROR	3 Year Maximum Drawdown	Assets Under Mgt Millions	Minimum Investment
1	Typhon Capital Management Aetos NASDAQ Strategy	10.56	22.15%	-2.10%	44.90	1,000,000
2	Tri Global FX Metro Forex Inc. Managed Accounts	8.90	17.98%	-2.02%	110.39	1,000,000
3	Pukula & Co YES - OO T Bond Program ProForma	6.79	29.06%	-4.28%	0.00	100,000
4	Edge Investment Mgt Ltd Global Diversified Program (Proprietary)	6.18	84.63%	-13.69%	3.35	500,000
5	GT Consulting Inc GT Dynamic Trading (P)	4.88	35.27%	-7.22%	1.20	150,000
6	Arkanar Financial LLC Global Macro Managed Account	3.35	19.77%	-5.90%	0.00	100,000
7	Whistler Trading Company Program 2	3.30	1.65%	-0.50%	122.68	1,000,000
8	Mobius Asset Mgt Energy Weighted Program	3.03	13.77%	-4.54%	9.75	250,000
9	Hyman Beck & Company Volatility Analytics Portfolio	2.91	5.53%	-1.90%	112.49	1,000,000
10	Pacific Capital Advisors Inc. Vanguard	2.88	14.66%	-5.09%	13.70	300,000
11	MIGFX Retail Program	2.75	28.52%	-10.36%	13.00	100,000
12	Swing Capital Swing FX	2.65	13.42%	-5.06%	56.00	1,000,000
13	Becker Asset Mgt, LLC Program 1 (Proprietary)	2.62	31.88%	-12.15%	0.55	200,000
14	MIGFX Institutional Program	2.52	14.64%	-5.81%	25.00	1,000,000
15	Merit Alternative Investments GmbH MERIT Futures Portfolio	2.27	7.45%	-3.28%	25.00	2,000,000
16	Typhon Capital Management Low Levered FX Strategy	2.25	8.55%	-3.80%	75.80	500,000
17	Cypress Capital Management, LLC Classic Program (P)	2.18	16.07%	-7.38%	5.40	250,000
18	Eickelberg & Associates, Inc. Stock Index Option Program	2.17	9.34%	-4.30%	5.00	1,000,000
19	Clarke Capital Mgt, Inc. Worldwide Program	1.87	32.36%	-17.28%	22.80	250,000
20	Hansen Capital Mgt, Inc Managed Account Program	1.80	11.54%	-6.41%	16.89	2,000,000
21	Financial Commodity Investments (FCI) Credit Premium Program	1.79	19.07%	-10.64%	19.15	50,000
22	TYL Trading, LLC Blend Diversified Program	1.74	13.95%	-8.04%	14.60	100,000
23	Paskewitz Asset Mgt Contrarian 3X S&P Prg	1.57	19.18%	-12.18%	297.04	1,000,000
24	Saxon Investment Corp Aggressive Diversified Program	1.54	30.85%	-20.05%	59.30	2,000,000
25	LJM Partners, Ltd Preservation & Growth Program	1.53	10.74%	-7.04%	21.64	250,000
26	Hawksbill Capital Mgt Global Diversified Program	1.49	36.86%	-24.67%	63.00	5,000,000
27	Integrated Managed Futures IMFC Global Investment Program	1.48	15.50%	-10.47%	19.47	2,000,000
28	NDX Capital Mgmt Shadrach Program	1.46	19.94%	-13.66%	7.58	100,000
29	Covenant Capital Mgt of Tennessee Optimal Prg	1.45	39.80%	-27.36%	0.34	250,000
30	Heyden & Steindl TOMAC 2	1.42	25.28%	-17.76%	54.00	3,000,000
31	Aurora Futures Corp Foreign Exchange Asset Mgt Prg	1.42	9.55%	-6.73%	2.22	100,000
32	Altradis Capital AlphAlgo	1.42	15.72%	-11.11%	7.30	100,000
33	Red Rock Capital Mgt, Inc. Diversified Program	1.39	16.32%	-11.73%	5.52	500,000
34	Saxon Investment Corp Diversified Program	1.35	17.15%	-12.69%	12.40	2,000,000
35	Mobius Asset Mgt Diversified Program	1.31	12.16%	-9.28%	11.50	300,000
36	K4 Capital Mgt, LLC MVS Program	1.30	8.38%	-6.46%	21.46	50,000
37	Reynoso Asset Mgt, LLC Options Arbitrage Program	1.28	10.51%	-8.21%	14.77	1,000,000
38	Typhon Capital Management Drakon Yield Curve Strategy	1.27	10.68%	-8.44%	45.80	500,000
39	DeSoto Capital Mgt E-Mini Program	1.24	20.43%	-16.49%	1.68	100,000
40	Scully Capital Mgt, LLC Mistral Program	1.23	26.13%	-21.26%	19.30	2,500,000
41	Tactical Investment Mgt Corp Institutional Commodity Program	1.22	25.69%	-21.12%	41.41	2,000,000
42	Rhicon Currency Mgt (UK) Ltd Rhicon Strategic Program	1.19	6.19%	-5.19%	310.00	5,000,000
43	Rivoli Fund Management Rivoli International V9 (MAP)	1.19	9.32%	-7.85%	1.09	5,000,000
44	Arborvitae Capital Management (ACM) Options Program (Proprietary)	1.16	21.28%	-18.32%	0.46	50,000
45	White Indian Trading Company Ltd STAIRS Program (Proprietary)	1.16	19.37%	-16.74%	1.80	30,000
46	Winton Capital Mgt Ltd Diversified Programme	1.16	10.78%	-9.31%	4,590.00	10,000,000
47	Estlander & Ronnlund Capital Mgt Ltd Alpha Trend	1.15	13.90%	-12.04%	348.80	10,000,000
48	Scully Capital Mgt, LLC Poniente Program	1.15	27.73%	-24.04%	15.36	2,500,000
49	Dominion Capital Mgt, Inc. Sapphire Program	1.11	9.70%	-8.71%	108.00	3,000,000
50	Covenant Capital Mgt of Tennessee Aggressive Program	1.09	19.96%	-18.31%	13.24	250,000
51	Quantitative Investment Mgt LLC Global Program	1.09	11.80%	-10.83%	4,252.56	20,000,000
52	Rivoli Fund Management Rivoli International Fund (MAP)	1.08	13.17%	-12.22%	100.31	5,000,000
53	Emil Van Essen Spread Trading High Minimum	1.05	37.56%	-35.90%	157.00	2,000,000
54	Cervino Capital Management LLC Diversified Options Strategy 1X	1.04	6.19%	-5.93%	1.97	50,000
55	Vaca Capital Mgt, LLC Global Diversified Program	1.03	13.49%	-13.12%	8.10	1,000,000
56	NDX Capital Mgmt Abednego Program	1.02	6.66%	-6.53%	7.46	100,000
57	Amplitude Capital Amplitude Dynamic Trading Fund	0.99	19.91%	-20.05%	800.00	15,000,000
58	Adalpha Asset Management, LLC Diversified Short-Term (P)	0.97	10.05%	-10.35%	2.92	1,000,000
59	John W. Henry & Company Financial Plus (P)	0.97	10.78%	-11.12%	10.00	20,000,000
60	Alder Capital Alder Capital 10	0.95	6.70%	-7.08%	19.50	2,000,000
61	Covenant Capital Mgt of Tennessee Original Program	0.93	14.46%	-15.60%	26.71	500,000
62	Beach Horizon LLP MAP	0.91	14.09%	-15.43%	327.00	5,000,000
63	KMJ Capital LLC KMJ Currency Program	0.91	5.97%	-6.55%	12.00	1,000,000
64	District Capital Mgt Select Program	0.88	28.20%	-32.06%	0.00	250,000
65	NuWave Investment Management, LLC Combined Futures Portfolio (2x)	0.87	12.14%	-13.91%	683.66	20,000,000
66	Emil Van Essen Spread Trading Low Minimum	0.87	31.06%	-35.90%	17.90	500,000
67	Dreiss Research Corp Diversified Program	0.86	24.64%	-28.50%	0.59	500,000
68	Revolution Capital Mgt LLC Revolution Capital Mgt Alpha Program	0.86	11.84%	-13.77%	21.07	5,000,000
69	Mobius Asset Mgt Custom Program	0.86	17.45%	-20.30%	11.50	75,000
70	District Capital Mgt Diversified Program	0.84	39.09%	-46.37%	5.54	150,000
71	Global Advisors LP Global Commodity Systematic Class	0.81	7.56%	-9.34%	305.00	8,000,000
72	Marathon Capital Growth Partners L.L.C. System Diversified Portfolio (Proprietary)	0.81	10.62%	-13.14%	47.43	1,000,000
73	K4 Capital Mgt, LLC MVS Lite	0.78	4.71%	-6.03%	3.34	75,000
74	John Locke Investments Cyril Systematic Euro	0.77	8.78%	-11.46%	38.30	15,000,000
75	Parizek Capital Inc. Futures Trading Program	0.76	26.52%	-35.00%	2.29	1,000,000
76	Global Advisors LP Global Commodity Systematic B2	0.75	14.09%	-18.80%	54.82	250,000
77	Eckhardt Trading Company Standard Program	0.75	11.71%	-15.63%	276.90	10,000,000
78	Linn Hare & Huckabay Apex Trading Prg (P)	0.74	18.41%	-24.87%	12.00	100,000
79	Marathon Capital Growth Partners L.L.C. System FX Portfolio	0.73	3.69%	-5.05%	10.00	1,000,000
80	John W. Henry & Company Global Analytics	0.72	21.92%	-30.42%	104.00	20,000,000
81	Quality Capital Management Global Diversified Prg (GDP)	0.72	16.00%	-22.24%	597.00	10,000,000
82	Systematic Alpha Management, LLC Futures MAP	0.71	6.66%	-9.44%	183.50	5,000,000
83	Valu-Trac Investment Mgt Ltd Strategic US$	0.70	10.45%	-14.85%	181.99	1,000,000
84	Rivercast Capital LLC Managed Account Program	0.70	14.93%	-21.27%	0.00	1,000,000
85	Chadwick Investment Group, Inc Global Trend Following Large Account	0.70	17.30%	-24.75%	4.75	250,000
86	Eckhardt Trading Company Standard HL Program	0.70	12.96%	-18.55%	212.30	10,000,000
87	Waypoint Capital Management Diversified Futures	0.70	12.40%	-17.76%	57.62	1,500,000
88	John Locke Investments Cyril Systematic USD	0.68	9.30%	-13.76%	18.50	15,000,000
89	Hansen Capital Mgt, Inc Comprehensive Program	0.63	7.08%	-11.18%	16.90	2,000,000
90	2100 Xenon Group LLC Long/Short Global Fixed Income	0.63	4.49%	-7.13%	34.79	2,000,000
91	Transtrend B.V. DTP - Enhanced Risk (EUR)	0.63	9.39%	-14.97%	908.00	10,000,000
92	Tzanetatos Capital Management LLC Global Titan Original Program	0.62	23.53%	-37.72%	2.54	500,000
93	SSARIS Advisors, LLC Short Term Momentum Strategy	0.62	15.31%	-24.55%	25.46	5,000,000
94	Ancile Capital Mgt, LLC Global Markets Program	0.62	7.22%	-11.64%	1.80	1,000,000
95	Lane Capital Mgt, LLC Global Macro	0.61	13.14%	-21.68%	1.00	350,000
96	Red Oak Advisors, Inc. Fundamental Program	0.61	13.27%	-21.91%	37.25	5,000,000
97	Transtrend B.V. DTP - Enhanced Risk (USD)	0.60	9.06%	-15.16%	4,800.00	10,000,000
98	Drury Capital, Inc. Diversified Trend-Following	0.59	16.91%	-28.42%	226.28	100,000
99	Abraham Trading Company Diversified Program	0.59	7.56%	-12.90%	474.49	10,000,000
100	SSARIS Advisors, LLC Diversified Trading Program	0.58	15.28%	-26.39%	28.00	5,000,000

Excerpts from "Building Wealth with Managed Futures"

Annualized Compound Rate of Return: "...the higher the Rate of Return, the great the historical annual rate of performance."

Annualized Standard Deviation: "indicates variance of return from the mean return.."

Annualized Sharpe Ratio: "a rusk-adjusted return statistic calcuated using a 5.0% Risk-Free Rate of Return."

Downside Deviation: "Measures downside volatility by only including monthly performance less than a 7.5% Minimal Acceptable Rate of Return."

Annualized Sortino Ratio "considers excess return over Minimum Acceptable Rate of Return (7.50%) and divides it by Downside Deviation."

Sterling Ratio "a rusk-adjusted return statistic calcuated using the last 36 months of data."

Calmar Ratio -"...represents the historical amount gained for each dollar risked � it is calculated over the last 36 month period."

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE SUCCESS

THE RISK OF TRADING COMMODITY FUTURES, OPTIONS AND FOREIGN EXCHANGE ("FOREX") IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES, OPTIONS AND FOREX IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS.

PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY.

THE ABOVE PERFORMANCE NUMBERS HAVE BEEN SUPPLIED BY THE CTAS. CAPITAL TRADING GROUP, IN NO WAY GUARANTEES THE ACCURACY OF THESE NUMBERS AND HAS SUPPLIED THEM TO YOU FOR INFORMATIONAL PURPOSES ONLY. THIS DOES NOT CONSTITUTE A SOLICITATION TO BUY OR AN OFFER TO SELL. NO INVESTMENT SHOULD BE MADE WITHOUT FULLY REVIEWING THE ASSOCIATED RISK FACTORS, FEES AND CONFLICTS OF INTEREST AS OUTLINED IN EACH CTA'S RISK DISCLOSURE DOCUMENT. THERE MAY BE CTAS WHO HAVE CHOSEN NOT TO PARTICIPATE THAT MAY HAVE BETTER OR WORSE PERFORMANCE THAN THOSE LISTED HERE.

PLEASE NOTE THAT THERE IS AN INHERENT RISK OF LOSS ASSOCIATED WITH TRADING FUTURES AND OPTIONS CONTRACTS. PLEASE CAREFULLY CONSIDER YOUR FINANCIAL CONDITION BEFORE INVESTING IN FUTURES AND OPTIONS CONTRACTS. FUTURES TRADING IS NOT SUITABLE FOR ALL INVESTORS.