Capital Trading Group

Rankings by Calmar Ratio
For Traders Reporting Results as of Friday, February 3, 2012

Untitled Document

Rank	Manager	3 Year Calmar Ratio	3 Year Annualized ROR	3 Year Maximum Drawdown	Assets Under Mgt Millions	Minimum Investment
1	Opthedge Advisors LLC Diversified Options & Futures Trading	7.96	32.48%	-4.08%	5.44	250,000
2	Fort Investment Management Global Diversified Program	3.13	25.40%	-8.11%	91.09	8,000,000
3	Fort Investment Management Contrarian Program	2.77	23.12%	-8.36%	124.60	5,000,000
4	Saxon Investment Corp Aggressive Diversified Program	2.00	11.80%	-5.91%	25.80	2,000,000
5	Esulep LLC Max Permo Investment Program	1.40	17.88%	-12.74%	19.20	250,000
6	Red Oak Advisors, Inc. Fundamental Program	0.94	12.04%	-12.88%	124.20	5,000,000
7	Rivercast Capital LLC Managed Account Program	0.84	6.49%	-7.76%	0.00	1,000,000
8	JPD Enterprises, Inc. Global Diversified Program	0.61	2.58%	-4.22%	12.75	3,000,000
9	QQFund.com LLC QQFund.com Stock Index Trend Program (QSITP)	0.56	20.14%	-35.81%	0.24	50,000
10	Alder Capital Alder Capital 10	0.51	3.89%	-7.58%	583.00	2,000,000
11	Spectrum Asset Mgt, LLC Global Diversified Program	0.51	5.42%	-10.60%	265.00	2,000,000
12	Kinkopf Capital Mgt, LLC S&P (Proprietary)	0.39	12.74%	-32.80%	0.10	100,000
13	Futures Truth Co MS4 Institutional	0.35	1.07%	-3.03%	1.00	1,000,000
14	Briarwood Capital Mgt, Inc Diversified Trading Program	0.30	3.93%	-13.00%	220.38	3,000,000
15	Futures Truth Co MS4	0.30	2.71%	-9.03%	8.00	500,000
16	Global Edge Capital Mgt, LLC Kondor Edge	0.29	7.38%	-25.54%	3.40	1,000,000
17	Hawksbill Capital Mgt Global Diversified Program	0.27	6.71%	-24.67%	73.70	5,000,000
18	Alder Capital Alder Capital 20	0.26	4.14%	-15.79%	13.00	1,000,000
19	Estlander & Partners Global Markets	0.26	2.11%	-8.24%	129.00	5,000,000
20	Pere Trading Group, LLC Pere Trading Program	0.25	15.07%	-60.73%	13.22	100,000
21	HB Capital Management, Inc. Diversified Program	0.24	3.36%	-13.80%	33.00	100,000
22	Crabel Capital Management, LLC Multi-Product	0.22	2.21%	-9.88%	649.40	1,000,000
23	Estlander & Partners Global XL Program	0.22	3.57%	-16.25%	64.50	5,000,000
24	2100 Xenon Group LLC Long/Short Global Fixed Income	0.16	1.20%	-7.47%	126.81	2,000,000
25	FTC Capital GmbH, Austria FTC Gideon I	0.14	1.95%	-14.19%	21.92	10,000
26	Altradis Capital AlphAlgo (USD)	0.13	2.11%	-16.85%	0.91	100,000
27	Haar Capital Mgt LLC Discretionary Commodity Trading Prg	0.12	2.08%	-17.68%	113.44	500,000
28	Lane Asset Advisors Global Macro	0.10	2.84%	-29.70%	2.00	350,000
29	Futures Truth Co SAM 101	0.09	1.11%	-12.57%	1.00	200,000
30	Estlander & Partners Alpha Trend	0.08	1.40%	-16.49%	583.50	10,000,000
31	Rho Asset Management Altius 1XL Program (EUR)	0.05	1.13%	-22.60%	22.10	1,000,000

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.