GLOBAL MOMENTUM GUIDE

FEBRUARY 6, 2017 MUTUALFUNDINVESTORGUIDE.COM Matthew D. Sauer Founder & Chief Investment Officer Matthew Sauer is the Founder and Chief Investment Officer of the Mutual Fund Investor Guide family of newsletters. Each month he analyzes and provides buy, sell and hold recommendations for hundreds of mutual funds and ETFs in three newsletters: The Investor Guide to Fidelity Funds, The ETF Investor Guide and The Investor Guide to Vanguard Funds. Prior to starting the Mutual Fund Investor Guide, Matthew was President and Chief Investment Officer of the Fidelity Independent Adviser, ETF Report & Sector Momentum Tracker newsletters. WEEKLY SECTOR PERSPECTIVE Friday s strong jobs report lifted the market last week. The Russell 2000 Index was the best performer, gaining 0.52 percent. The S&P 500 Index increased 0.12 percent; the Nasdaq climbed 0.11 percent; and the MSCI EAFE rose 0.01 percent. The Dow Jones Industrial Average slid 0.11 percent. The ETF International Portfolio climbed 0.47 percent last week. The Fidelity Select Sector Portfolio fell 0.67 percent; the ETF Sector Portfolio dipped 1.02 percent; the ETF Blended Portfolio declined 1.42 percent. In 2017, the Nasdaq is up 5.27 percent. The MSCI EAFE has gained 3.43 percent; the S&P 500 Index has increased 2.62 percent; the Dow Jones Industrial Average has rallied 1.56 percent; and the Russell 2000 Index has advanced 1.52 percent. The ETF International Portfolio has increased 6.53 percent. The ETF Sector Portfolio has risen 4.24 percent; the ETF Blended Portfolio has grown 3.44 percent; and the Fidelity Select Sector Portfolio has returned 1.63 percent. There was one big relative momentum winner last week among Fidelity Select Sector funds: Multimedia (FBMPX). The fund jumped four spots in the rankings to number 11. There were two big relative momentum losers among Fidelity Select Sector funds last week. Communications Equipment (FSDCX) slid three spots, as did Fidelity Select Natural Resources (FNARX). Hard assets gained the most momentum last week. VanEck Rare Earth (REMX) climbed ten places to number 17. Global X Lithium (LIT) advanced seven, while Global X Uranium (URA) move up six. Technology (IYW), software (IGV) and Medical Devices (IHI) rounded out winners. Energy funds dominated the relative momentum losers among sector ETFs. ishares U.S. Energy (IYE) fell ten spots last week, closely followed by SPDR Energy (XLE) and U.S. Natural Gas (UNG), both of which slid six places. Non-energy funds included SPDR Retail (XRT) and ishares Cohen & Steers Realty Majors (ICF), both down four spots. Among international ETFs, the top gainer was ishares MSCI Poland (EPOL) and it replaces EWC in the portfolio this week. The other relative momentum gainers are scattered around the globe: ishares MSCI Sweden (EWD), South Korea (EWY), and Spain (EWP) among others. The U.S. dollar funds saw the largest loss in relative momentum last week, with WisdomTree Bloomberg U.S. Dollar Index Bullish (USDU) down nine and PowerShares DB U.S. Dollar Index Bullish (UUP) sliding eight. A flare up of Greece s debt crisis abruptly ended the fund s advance in the momentum rankings. GREK fell eight spots last week. FIDELITY SELECT SECTOR PORTFOLIO TRADES: SELL ENERGY FSENX BUY CHEMICALS FSCHX PERSPECTIVE 1,16 FIDELITY 2-4 ETF SECTOR 4-9 ETF INTL 10-14 BLENDED 15 DISCLOSURE 17 ETF SECTOR PORTFOLIO TRADES: NO TRADES ETF INTERNATIONAL PORTFOLIO TRADES: SELL CANADA EWC BUY POLAND EPOL BLENDED ETF PORTFOLIO TRADES: NO TRADES 1

FIDELITY SECTOR MOMENTUM RANKINGS Name Symbol 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 Banking FSRBX 8 2 2 1 1 1 1 1 1 1 1 1 1 Energy Services FSESX 9 8 8 6 5 3 2 2 2 2 2 2 2 Natural Gas FSNGX 2 3 3 3 2 2 3 3 3 3 3 3 3 Semiconductors FSELX 1 1 1 2 3 5 4 4 4 5 4 5 4 Financial Services FIDSX 16 13 10 7 7 7 7 7 5 4 4 6 5 Transportation FSRFX 11 7 4 4 4 4 5 5 6 6 6 4 5 Air Transport FSAIX 13 11 7 5 6 6 6 6 7 7 7 7 7 Brokerage FSLBX 22 18 18 14 10 9 9 9 9 8 8 8 8 Consumer Finance FSVLX 19 17 17 15 15 12 10 10 10 10 10 9 9 Chemicals FSCHX 20 19 19 20 18 17 17 17 17 17 15 12 10 Multimedia FBMPX 24 24 23 23 23 23 19 19 19 19 18 15 11 Energy FSENX 7 9 9 8 8 8 8 8 8 9 9 10 12 Environmental Svcs FSLEX 14 16 16 16 16 16 16 15 15 14 14 13 13 Insurance FSPCX 12 15 13 12 14 13 12 11 11 11 11 11 13 Computers FDCPX 3 4 6 11 13 15 15 16 16 16 16 17 15 Defense & Aero FSDAX 15 14 12 9 9 10 11 12 13 12 12 16 16 Natural Resources FNARX 10 12 14 13 11 11 13 13 12 13 13 14 17 Industrials FCYIX 27 22 20 19 17 17 18 18 18 18 19 18 18 Materials FSDPX 21 23 21 22 22 19 20 20 20 20 21 19 19 Technology FSPTX 4 6 11 17 19 20 22 22 23 22 22 21 20 Telecommunications FSTCX 29 30 31 30 28 26 26 23 22 21 20 21 21 Comm Equip FSDCX 5 5 5 10 12 14 14 14 14 15 17 19 22 Software FSCSX 6 10 15 18 20 21 23 25 25 24 24 23 23 Automotive FSAVX 38 35 36 36 34 32 31 31 29 28 27 25 24 Industrial Equip FSCGX 28 24 22 21 21 21 21 21 21 23 23 24 25 Wireless FWRLX 18 21 24 28 32 34 30 27 27 27 28 28 26 S&P 500 Index SPX 23 26 25 25 25 25 25 26 26 26 26 27 27 Leisure FDLSX 33 29 28 24 24 24 24 23 24 25 25 26 28 Healthcare Svcs FSHCX 40 37 35 33 31 30 33 33 33 31 30 30 29 IT Services FBSOX 26 27 27 26 27 28 28 29 28 29 29 29 30 Consumer Discr FSCPX 31 31 31 29 29 29 29 30 31 31 31 31 31 Constr & Housing FSHOX 39 35 34 34 33 31 31 32 32 33 33 33 32 Retailing FSRPX 25 28 29 27 26 27 27 28 29 30 32 32 32 Utilities FSUTX 34 34 37 37 37 37 35 34 34 35 34 34 34 Medical Equip FSMEX 17 20 26 32 35 35 36 37 38 36 36 36 35 Biotechnology FBIOX 36 32 30 31 30 33 34 35 35 34 35 35 36 Consumer Staples FDFAX 35 39 39 38 38 38 38 38 36 37 37 37 37 HealthCare FSPHX 37 37 38 39 39 39 39 39 39 39 39 39 38 Government Income FGOVX 32 33 33 35 36 36 37 36 37 38 38 38 39 Gold FSAGX 30 40 40 41 41 41 41 41 41 41 41 41 40 Pharmaceuticals FPHAX 41 41 41 40 40 40 40 40 40 40 40 40 41 2 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 2

FIDELITY SECTOR PERFORMANCE RETURNS Name Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year Air Transport FSAIX 73.66-2.64-1.92-2.20-2.26 13.15 20.29 19.31-0.83 31.61 Automotive FSAVX 36.92-0.16 0.68 0.87 1.12 13.99 8.47 10.97 5.67 22.43 Banking FSRBX 32.88-0.21 2.88 1.01 0.09 27.81 36.05 37.75 2.11 51.14 Biotechnology FBIOX 189.20 3.72 3.57 0.61 3.69 14.49-1.56 15.62 8.70 16.33 Brokerage FSLBX 69.62 0.88 2.22 0.58-0.01 20.38 20.36 21.29 3.05 31.72 Chemicals FSCHX 158.55 0.25 4.31 4.36 5.46 18.31 16.32 22.18 7.56 37.15 Comm Equip FSDCX 32.44 0.81-0.43-1.99-2.02 5.28 8.52 23.08-1.13 34.79 Computers FDCPX 78.99 1.78 4.17 4.11 4.58 12.15 15.65 34.50 6.48 37.69 Constr & Housing FSHOX 59.96-1.02 1.20 1.25 0.30 11.24-0.20 6.97 1.87 19.94 Consumer Discr FSCPX 36.39-0.38 0.52 0.58 1.14 8.22 3.78 7.34 2.97 15.38 Consumer Finance FSVLX 13.68 1.33 1.48 0.74-0.87 16.13 15.75 19.02 2.24 34.24 Consumer Staples FDFAX 93.85 1.65 1.97 3.78 3.93 3.61-0.15 2.32 4.43 9.55 Defense & Aero FSDAX 131.27 0.57 0.91 0.48-0.03 11.29 10.55 18.13 1.66 31.29 Energy FSENX 46.41-1.34-0.83-0.17-2.77 12.40 14.61 19.92-0.75 38.64 Energy Services FSESX 57.26-0.71-0.12 0.26-1.12 28.07 30.93 32.10 2.62 53.46 Environmental Svcs FSLEX 23.35 0.39 1.83 1.61 1.88 13.86 13.86 19.63 3.55 35.60 Financial Services FIDSX 100.56 0.37 2.16 0.94 0.03 19.04 21.35 25.04 1.86 35.92 Gold FSAGX 22.25 5.05 5.00 6.36 11.08-0.52-19.18 3.97 16.13 54.28 Government Income FGOVX 10.17 0.10 0.00-0.29-0.10-2.71-3.54-1.95 0.00-0.92 HealthCare FSPHX 198.88 2.75 3.63 1.67 4.74 10.28-3.93 7.21 7.61 8.81 Healthcare Svcs FSHCX 86.51 1.26 1.47 0.76 2.74 14.56 4.21 7.24 4.85 18.56 Industrial Equip FSCGX 39.78-1.12 0.48 0.28-0.10 12.10 6.94 11.15 1.69 23.68 Industrials FCYIX 33.10-0.57 1.22 0.88 0.70 15.05 10.34 15.05 2.32 29.21 Insurance FSPCX 78.26-0.28 0.49 0.72-0.01 12.10 14.69 17.41 0.90 29.12 IT Services FBSOX 42.99-0.53-0.46-0.53 0.51 6.96 5.54 8.60 2.58 16.30 Leisure FDLSX 138.85-0.70-0.46-0.21 0.85 8.51 6.55 8.96 1.46 13.91 Materials FSDPX 80.70-0.42 2.82 2.72 3.59 14.13 12.26 17.55 6.06 33.62 Medical Equip FSMEX 39.90 1.84 3.05 1.76 7.11 8.02-1.85 13.46 8.37 25.44 Multimedia FBMPX 80.63 0.22 2.98 3.52 5.88 17.95 16.89 17.73 8.21 25.53 Natural Gas FSNGX 29.59-0.74-0.67-0.50-2.38 16.66 21.08 31.53 0.03 57.97 Natural Resources FNARX 30.58-1.48-0.65 0.03-2.27 11.00 11.36 18.50 0.00 37.59 Pharmaceuticals FPHAX 17.19 3.06 2.75-0.35-2.00 1.14-13.77-5.67 0.88-8.07 Retailing FSRPX 112.03-0.84 0.03-0.34 0.67 6.41 1.91 8.04 2.11 16.06 S&P 500 SPX 2297.42 0.12 1.15 1.00 1.17 9.51 6.15 12.03 2.62 20.12 Semiconductors FSELX 99.03-0.64 1.17 1.07 2.90 12.23 20.70 44.01 3.67 56.37 Software FSCSX 137.99-0.42 1.64 1.52 4.59 6.70 8.77 21.16 7.14 28.26 Technology FSPTX 141.78 0.89 3.44 3.61 6.82 10.11 12.89 27.38 8.95 35.93 Telecommunications FSTCX 70.21-1.69-1.39-1.36-2.89 12.50 4.04 13.34 0.56 23.57 Transportation FSRFX 91.54-2.93-1.18-0.32 0.42 16.75 21.15 25.10 1.61 38.24 Utilities FSUTX 73.02 1.59 1.37 1.74 1.91 5.00-1.43 3.77 2.44 10.65 Wireless FWRLX 8.82 1.38 1.50 2.32 3.76 8.15 8.53 16.72 5.00 22.32 3 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 3

FIDELITY SELECT SECTOR RETURNS PERIOD PORTFOLIO BENCHMARK S&P 500 Nasdaq Dow Russell 2000 YTD 1.63 2.62 5.27 1.56 1.52 1 Week -0.67 0.12 0.11-0.11 0.52 4 Week -0.15 0.90 2.64 0.54 0.77 13 Week 11.67 10.18 12.29 12.20 18.43 26 Week 7.61 5.25 8.54 8.24 11.90 1 Year 28.84 22.20 29.88 23.86 39.79 Inception* 115.48 82.68 117.52 64.28 85.96 *Inception on 12/31/2011 FIDELITY PORTFOLIO HOLDINGS RANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT 1 Banking FSRBX 739.02 32.88 $24,299.13 11/14/16 11.28% 2 Energy Services FSESX 423.41 57.26 $24,244.53 10/24/16 11.25% 3 Natural Gas FSNGX 735.84 29.59 $21,773.50 05/31/16 10.10% 4 Semiconductors FSELX 279.61 99.03 $27,689.50 06/20/16 12.85% 5 Financial Services FIDSX 189.10 100.56 $19,016.02 11/28/16 8.82% 5 Transportation FSRFX 225.02 91.54 $20,598.28 11/21/16 9.56% 7 Air Transport FSAIX 241.36 73.66 $17,778.63 11/28/16 8.25% 8 Brokerage FSLBX 280.47 69.62 $19,526.13 12/12/16 9.06% 9 Consumer Finance FSVLX 1453.54 13.68 $19,884.42 01/09/17 9.23% 12 Energy FSENX 445.47 46.41 $20,674.04 05/31/16 9.59% $215,484.17 100.00% THIS WEEK S FIDELITY TRADE RECOMMENDATIONS At the close of trading on February 6, 2017 we will make the following trades. Proceeds from multiple fund sales should be split evenly between new purchases. We hold each Fidelity fund for 30 days to avoid a short-term trading fee even if it falls out of the top 10. Sell Energy Buy Chemicals FSENX FSCHX Last Week s Sell Transactions Date Fund Symbol Shares Buy Value Sell Proceeds Profit No trades last week 4 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 4

ETF SECTOR MOMENTUM RANKINGS Name Symbol 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 Glb X Copper Miners COPX 3 3 3 3 3 3 2 3 4 3 2 1 1 VanEck Steel SLX 2 2 2 2 2 1 1 1 1 1 1 2 2 SPDR S&P Reg Bank KRE 8 6 5 5 5 5 4 2 2 2 3 3 3 SPDR Metals & Mining XME 6 4 4 4 4 4 6 6 6 6 6 5 4 SPDR S&P Bank KBE 13 8 8 7 6 6 5 4 3 4 4 4 5 ishares US Reg Banks IAT 9 7 7 6 7 7 7 5 5 5 5 6 6 Glb X Uranium URA 95 95 95 95 94 87 85 82 69 47 27 13 7 ishares US Broker Dealers IAI 11 10 9 9 8 8 8 8 8 7 7 8 8 SPDR Oil & Gas Equip XES 57 45 40 32 18 12 12 11 9 9 8 7 9 VanEck Coal KOL 1 1 1 1 1 2 3 7 7 8 9 9 10 ishares US Financial Svcs IYG 19 12 11 10 10 9 9 9 10 10 10 10 11 ishares Semiconductor SOXX 4 5 6 8 9 10 10 10 12 12 12 11 11 ishares US Oil Equip IEZ 38 34 33 24 17 15 13 13 13 13 11 12 13 SPDR Financial XLF 28 14 13 13 11 11 11 12 11 11 13 14 14 PShrs DB Base Metals DBB 15 13 12 12 12 14 17 20 23 23 18 17 15 ishares DJ Transports IYT 33 23 17 16 16 17 15 15 15 15 15 15 16 VanEck Rare Earth REMX 62 56 50 47 42 38 40 41 39 35 30 27 17 SPDR S&P Cap Mkt KCE 55 37 28 23 22 20 19 21 18 17 16 18 18 ishares US Finance IYF 35 31 26 25 25 25 23 23 19 18 17 19 19 SPDR Oil & Gas Explor XOP 18 17 16 15 14 13 14 14 14 14 14 16 20 ETFS Palladium PALL 24 16 15 14 15 18 27 30 30 26 24 23 21 SPDR S&P Insurance KIE 26 20 19 18 20 21 21 19 20 19 19 20 22 ishares NA Networking IGN 7 9 10 11 13 16 16 16 16 16 19 22 23 ishares US Insurance IAK 32 24 20 19 24 21 19 18 20 20 21 21 24 ishares Russell2000 IWM 34 25 22 20 22 24 22 21 22 21 22 24 25 PShrs Dyn Leisure PEJ 48 36 28 25 26 26 25 24 24 24 25 25 26 ishares US Oil & Gas Exp IEO 24 26 25 22 20 19 18 17 17 22 23 26 27 ishares US Aero & Defense ITA 31 22 18 17 19 23 24 25 25 25 26 28 28 Glb X Lithium LIT 44 53 50 51 53 54 58 55 51 48 42 36 29 ishares US Basic Materials IYM 46 43 41 40 37 32 32 33 33 34 35 32 30 ishares US Telecom IYZ 69 66 62 60 61 60 51 45 34 32 33 30 31 SPDR Industrial XLI 39 35 35 29 28 28 29 28 29 29 29 29 31 ishares US Technology IYW 16 17 22 28 33 33 34 35 35 36 37 38 33 SPDR DJIA DIA 49 41 42 42 39 36 33 32 32 31 34 34 34 ishares US Industrial IYJ 40 38 38 35 30 31 31 31 31 33 36 37 35 SPDR Energy XLE 27 28 28 27 27 27 26 26 26 27 28 30 36 PShrs Private Equity PSP 40 41 43 45 44 43 42 44 43 39 38 39 37 ishares NA Natural Res IGE 30 32 35 34 29 29 30 29 28 30 32 33 38 SPDR Basic Materials XLB 56 52 48 46 44 41 39 38 42 40 42 40 39 ishares NA Technology IGM 16 19 24 29 35 35 36 37 38 38 39 41 40 VanEck Ag Business MOO 52 51 49 50 49 49 45 47 47 46 46 43 41 FrTrust DJ Internet FDN 12 15 21 31 34 37 37 42 45 44 41 42 42 SPDR Technology XLK 21 27 34 39 41 40 38 38 43 41 44 45 43 ishares US Energy IYE 35 39 39 37 32 30 28 27 27 28 31 34 44 FrTrust Global Auto CARZ 50 54 52 52 54 53 51 50 48 45 45 44 45 US Brent Oil BNO 58 65 64 63 59 55 47 40 37 37 40 46 46 Guggenheim Timber CUT 45 47 46 48 48 50 48 49 49 50 49 47 46 Guggenheim Shipping SEA 81 82 83 81 69 66 65 64 63 61 54 51 48 PShrs Dyn Media PBS 67 57 54 54 57 59 56 52 52 52 51 50 49 5 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 5

ETF SECTOR MOMENTUM RANKINGS Name Symbol 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 PShrs DB Oil DBO 68 70 66 62 59 57 49 43 40 43 47 49 50 SPDR S&P 500 SPY 54 50 46 48 51 48 44 46 46 49 50 52 51 PShrs NASDAQ Internet PNQI 14 21 27 37 43 46 53 57 57 57 55 53 52 FrTrust Natural Gas FCG 42 45 45 43 38 34 35 36 36 41 47 48 53 SPDR Cons Disc XLY 65 58 56 56 56 58 59 56 55 55 55 56 54 ishares US Cons Service IYC 66 59 57 55 55 55 55 53 53 54 52 54 55 PShrs Water PHO 52 44 44 44 46 44 43 48 50 53 52 54 55 ishares NA Software IGV 23 30 37 41 47 52 60 59 60 62 62 59 57 US Oil USO 84 85 85 74 65 63 61 58 54 56 58 57 58 SPDR Biotech XBI 43 33 31 36 40 47 56 60 60 59 59 61 59 ishares GSCI Commodity GSG 77 79 73 65 62 62 62 61 59 60 60 58 60 Global X Social Media SOCL 5 11 13 21 31 42 54 62 62 64 63 63 61 VanEck Gaming BJK 22 28 32 33 36 39 46 51 55 58 61 62 62 ipath DJ Livestock COW 97 97 96 96 96 93 86 84 77 69 66 64 63 ishares US Home Constr ITB 89 85 82 72 66 64 64 65 65 66 68 65 64 Teucrium Soybean SOYB 72 64 60 57 58 61 63 63 64 65 65 65 65 US Natural Gas UNG 46 61 63 57 50 45 41 34 41 51 57 60 66 ishares US Med Devices IHI 37 48 52 59 63 67 68 71 72 72 71 70 67 SPDR Homebuilders XHB 91 89 84 75 68 65 66 66 67 68 69 69 67 VanEck Nuclear Energy NLR 78 81 81 78 73 69 67 67 66 67 67 67 69 ishares US Cons Goods IYK 71 73 72 69 71 70 70 69 71 73 73 71 70 ishares US Utilities IDU 73 76 75 73 75 71 69 68 68 70 70 72 71 SPDR Retail XRT 79 62 58 52 52 51 50 54 58 63 64 68 72 SPDR Utilities XLU 73 77 78 75 78 73 72 69 70 71 72 73 73 FrTrust Global Wind FAN 29 48 55 61 67 72 77 79 81 81 80 75 74 ishares US Real Estate IYR 82 83 87 86 81 81 81 75 76 76 76 74 75 ishares US Healthcare IYH 80 74 74 71 77 75 74 74 75 75 74 77 76 SPDR Cons Staples XLP 75 77 77 79 79 76 73 73 74 78 77 76 77 FrTrust Biotech FBT 85 68 61 64 64 68 70 72 73 74 75 78 78 SPDR Healthcare XLV 83 80 76 75 80 80 76 76 78 77 78 81 79 PShrs DB Agriculture DBA 87 87 86 83 82 82 83 85 86 85 84 80 80 ishares US Preferred PFF 62 67 69 68 75 79 77 77 79 80 81 82 80 PShrs Fin Preferred PGF 59 62 65 67 72 77 79 78 82 81 83 83 82 ishares C & S Realty ICF 88 90 89 89 86 84 84 86 83 83 81 79 83 ishares NASDAQ Biotech IBB 86 75 68 66 70 73 75 79 79 79 79 85 84 PShrs Clean Energy PBW 92 91 90 88 84 83 82 83 85 84 85 83 85 ishares Agg Bond AGG 70 69 71 69 74 78 80 81 84 86 86 86 86 Teucrium Corn CORN 94 94 94 91 90 86 86 87 87 87 87 87 87 ETFS Platinum PPLT 90 92 92 92 92 92 92 93 92 88 88 88 88 VanEck Jr Gold Miners GDXJ 20 54 67 87 89 95 95 95 95 95 94 92 89 ishares Silver Trust SLV 51 60 70 82 83 85 88 88 88 89 89 89 90 Glb X Silver Miners SIL 10 40 59 80 85 90 94 94 94 94 95 93 91 ishares Comex Gold IAU 60 70 79 84 87 88 89 89 89 90 90 90 92 SPDR Gold GLD 61 72 80 85 88 89 90 90 90 91 91 91 93 VanEck Gold Miners GDX 64 88 91 94 95 96 96 96 96 96 96 96 94 ishares 20+ Yr Tres Bond TLT 76 84 88 90 91 91 91 91 93 93 92 94 95 SPDR Pharmaceuticals XPH 93 93 93 93 93 94 93 92 91 92 93 95 96 Guggenheim Solar Energy TAN 96 96 97 97 97 97 97 97 97 97 97 97 97 6 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 6

ETF SECTOR PERFORMANCE RETURNS Name Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year ETFS Palladium PALL 71.86 1.83-4.86-0.21 1.68 18.99 6.02 24.45 10.20 46.27 ETFS Platinum PPLT 96.19 1.87 2.64 1.85 6.23 0.91-13.68-5.89 11.32 13.24 FrTrust Biotech FBT 97.48 3.56 3.88 1.54 2.02 13.41-4.23 12.20 7.26 17.59 FrTrust DJ Internet FDN 85.28-0.95 0.92 0.34 4.05 7.60 9.73 24.39 6.83 32.69 FrTrust Global Auto CARZ 35.69-0.83-1.16-0.94-0.45 8.17 10.62 15.61 3.69 19.08 FrTrust Global Wind FAN 12.38 0.98 2.48 3.77 4.65 1.66-0.39 11.89 5.81 22.54 FrTrust Natural Gas FCG 26.51-0.82 0.38 0.49-0.49 12.54 9.08 15.72 1.30 33.01 Glb X Copper Miners COPX 24.48 0.12 7.32 5.43 15.31 42.26 44.09 60.11 22.40 144.78 Glb X Lithium LIT 26.92-0.37 1.62 1.66 6.36 17.37 10.35 21.51 10.42 52.86 Glb X Silver Miners SIL 39.18 4.87 5.44 7.02 13.53-2.61-22.03 20.00 22.02 112.34 Glb X Uranium URA 16.38-7.30 2.31-3.31 19.65 46.89 27.87 23.21 27.27 36.72 Global X Social Media SOCL 23.83 0.89 2.94 2.14 7.39 4.25 6.53 29.11 10.22 33.89 Guggenheim Shipping SEA 12.22-1.61-1.69 0.41 2.26 15.91 13.69 9.40 6.91 20.91 Guggenheim Solar Energy TAN 17.47-0.46-1.24-1.13 0.69-3.24-15.73-16.99 5.43-24.54 Guggenheim Timber CUT 26.04-0.88 2.08 1.72 2.88 11.32 10.25 15.98 5.13 28.60 ipath DJ Livestock COW 22.34 0.45-1.15-0.93 1.32 14.21 3.38-6.68-0.09-8.52 ishares 20+ Yr Tres Bond TLT 119.00-0.31-0.57-1.69-0.70-8.94-13.61-7.51 0.11-4.74 ishares Agg Bond AGG 108.01 0.14 0.14-0.18 0.03-2.23-2.90-1.11 0.16 1.14 ishares C & S Realty ICF 99.43 0.40-0.85 0.00-1.77 6.13-6.91-1.03-0.21 8.67 ishares Comex Gold IAU 11.74 2.44 1.03 1.65 4.73-5.93-10.52-4.86 5.96 6.44 ishares DJ Transports IYT 166.34-2.18 0.09 0.47 1.47 15.47 20.55 21.96 2.15 37.14 ishares GSCI Commodity GSG 15.61 0.84 0.32 0.00 0.45 8.70 11.26 6.41-0.38 17.72 ishares NA Natural Res IGE 35.99-0.66-0.47-0.28-1.72 10.16 9.19 15.52 0.11 38.54 ishares NA Networking IGN 44.92 1.54 3.19 2.18 1.67 12.62 20.59 31.50 2.98 41.54 ishares NA Software IGV 118.64 1.17 3.35 3.40 6.32 7.39 8.08 20.34 8.99 28.90 ishares NA Technology IGM 131.24-0.05 2.22 2.15 4.43 8.86 11.25 24.58 6.00 31.69 ishares NASDAQ Biotech IBB 283.05 3.27 3.52 1.09 2.10 11.33-4.36 9.34 6.66 7.41 ishares Russell2000 IWM 136.87 0.50 1.81 0.45-0.66 18.93 14.31 25.68 1.50 38.42 ishares Semiconductor SOXX 130.50 0.24 3.75 4.34 6.05 19.30 26.83 52.76 6.34 63.49 ishares Silver Trust SLV 16.57 2.16 2.35 3.95 6.35-5.64-14.37 0.36 9.66 18.78 ishares US Aero & Defense ITA 144.44 0.75 1.73 1.40 0.75 12.82 11.97 19.91 2.79 34.90 ishares US Basic Materials IYM 87.50-0.79 2.29 2.59 2.83 14.81 10.45 18.05 5.22 36.86 ishares US Broker Dealers IAI 51.98 0.29 3.38 1.84 2.04 27.62 33.21 41.89 5.05 51.45 ishares US Cons Goods IYK 114.23 0.40 0.80 2.60 1.73 3.77 0.15 4.18 3.17 11.80 ishares US Cons Service IYC 155.33-0.39 0.36 0.18 1.50 9.54 5.50 8.78 2.85 16.92 ishares US Energy IYE 40.48-1.10-1.56-1.39-3.66 9.19 9.87 12.26-2.55 29.05 ishares US Finance IYF 103.48 0.45 1.97 0.91 0.11 17.43 17.51 21.64 1.99 33.48 ishares US Financial Svcs IYG 109.35 0.64 2.90 1.02 0.49 23.40 29.32 32.83 2.91 44.16 ishares US Healthcare IYH 149.75 2.46 2.43 0.86 1.85 8.18-3.19 5.18 3.90 11.33 ishares US Home Constr ITB 29.10-0.82 4.71 3.71 3.05 15.06 1.77 11.24 5.90 24.58 ishares US Industrial IYJ 123.20-0.97 0.49 0.48 0.74 12.11 9.83 16.20 2.17 30.51 ishares US Insurance IAK 59.74-0.57 0.44 0.56-0.30 14.63 17.68 20.20 0.69 30.50 ishares US Med Devices IHI 143.63 2.21 3.66 2.40 6.88 8.94 0.14 12.32 7.87 25.73 ishares US Oil & Gas Exp IEO 64.63-0.95-1.01-0.58-2.83 12.73 15.71 18.29-1.24 37.17 ishares US Oil Equip IEZ 46.21-0.88-1.41-0.35-2.08 25.14 24.79 26.67 1.67 48.52 ishares US Preferred PFF 38.16 1.01 1.60 0.64 1.06 1.15-2.04 2.34 3.07 5.54 ishares US Real Estate IYR 77.50 0.69 0.09 0.52-1.03 6.21-5.47 1.55 0.73 13.02 ishares US Reg Banks IAT 46.29-0.04 3.33 1.34 0.59 28.82 39.18 43.21 2.01 55.56 ishares US Technology IYW 128.06 0.35 2.97 3.07 5.23 10.06 12.17 27.23 6.49 31.28 7 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 7

ETF SECTOR PERFORMANCE RETURNS Name Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year ishares US Telecom IYZ 34.55-3.33-1.76-2.84-5.45 17.35 4.09 14.56 0.14 28.24 ishares US Utilities IDU 122.78 1.10 0.69 0.89 0.66 3.51-2.75 2.35 0.78 8.99 MV Ag Business MOO 54.23 0.99 1.80 3.06 3.91 11.42 13.77 16.65 5.63 27.49 MV Coal KOL 13.21-0.45 2.80 0.38 4.92 0.83 24.18 63.40 7.75 126.26 MV Gaming BJK 34.99 0.11 0.57 0.69 1.57 2.95 5.05 11.27 3.40 20.08 MV Gold Miners GDX 24.50 5.51 5.97 7.74 11.77-0.76-21.32 1.62 17.11 60.07 MV Jr Gold Miners GDXJ 39.26 6.48 6.08 7.09 14.80 0.21-19.17 15.62 24.44 105.60 MV Nuclear Energy NLR 46.78-0.99-2.46-2.13-1.74 2.73-1.81 0.91-1.41 5.39 MV Rare Earth REMX 19.42 1.41 5.77 5.49 10.03 24.09 14.70 24.72 14.17 69.70 MV Steel SLX 40.96-3.62-0.65-0.15 3.54 28.39 29.56 53.04 8.39 136.74 PShrs Clean Energy PBW 3.80-0.26 0.53 0.26-0.26 5.78-1.51-0.07 3.26-0.80 PShrs DB Agriculture DBA 20.57 0.00-1.25-0.77 1.23 0.54-0.39-0.96 3.00 2.19 PShrs DB Base Metals DBB 16.00-0.06 0.44-0.62 5.82 12.44 17.39 26.78 7.24 33.78 PShrs DB Oil DBO 9.53 1.28 1.38 1.17-0.42 13.45 17.65 14.13-1.55 24.41 PShrs Dyn Leisure PEJ 40.47-1.12-0.76-0.61-0.83 12.77 18.02 15.26 1.12 25.49 PShrs Dyn Media PBS 27.67-0.14 2.41 1.69 3.13 14.48 10.07 10.34 5.57 18.50 PShrs Fin Preferred PGF 18.44 0.66 1.49 0.60 1.23 0.13-2.09 1.87 3.14 4.90 PShrs NASDAQ Internet PNQI 90.10-0.73 1.75 1.74 6.31 7.02 10.92 20.47 9.03 31.40 PShrs Private Equity PSP 11.66 0.60 2.37 2.10 2.73 12.42 12.72 17.65 4.95 28.50 PShrs Water PHO 25.48 0.00 2.41 1.84 1.76 10.78 5.64 13.23 3.62 29.30 SPDR Basic Materials XLB 52.08-1.38 1.94 2.38 2.68 13.40 8.40 15.65 4.79 32.95 SPDR Biotech XBI 65.98 4.04 4.48 1.51 5.84 19.09 3.99 30.97 11.47 34.02 SPDR Cons Disc XLY 84.49-0.67 0.67 0.63 1.83 10.26 5.69 8.79 3.80 17.90 SPDR Cons Staples XLP 53.00 1.18 0.80 2.87 2.12 1.82-1.42 2.04 2.49 8.29 SPDR DJIA DIA 200.38-0.12 1.22 0.94 0.72 12.39 10.60 15.71 1.55 25.93 SPDR Energy XLE 73.40-1.12-1.53-1.32-3.43 8.72 10.93 14.22-2.55 31.34 SPDR Financial XLF 23.72 0.30 2.46 0.89 0.08 22.01 25.04 28.66 2.02 41.38 SPDR Gold GLD 116.13 2.33 0.94 1.68 4.75-6.07-10.58-4.87 5.95 6.30 SPDR Healthcare XLV 71.42 2.39 2.26 0.71 1.46 7.63-4.07 3.90 3.60 9.87 SPDR Homebuilders XHB 34.61-1.42 1.17 0.73-0.23 11.67-2.70 4.47 2.25 17.76 SPDR Industrial XLI 63.62-1.35 0.28 0.63 1.05 13.27 11.48 17.09 2.25 30.98 SPDR Metals & Mining XME 33.56-0.24 2.35 3.52 4.13 34.97 17.54 50.17 10.36 138.39 SPDR Oil & Gas Equip XES 23.06 0.30-0.86 0.22-1.58 34.36 32.34 30.62 3.18 60.27 SPDR Oil & Gas Explor XOP 40.68-1.50-1.09 0.52-3.62 17.07 18.29 21.28-1.79 49.15 SPDR Pharmaceuticals XPH 40.22 5.76 4.82 1.36-2.09 2.79-13.91-0.12 2.89-4.89 SPDR Retail XRT 43.03 0.80-0.92-2.23-4.74 3.94-1.74 1.31-2.36 8.58 SPDR S&P 500 SPY 229.34 0.16 1.15 1.01 1.22 9.99 7.14 13.71 2.60 22.46 SPDR S&P Bank KBE 44.12 0.00 2.92 0.59-0.43 30.20 40.08 43.73 1.50 56.72 SPDR S&P Cap Mkt KCE 46.60 1.57 2.33 1.19 0.22 21.64 20.47 23.63 3.83 37.14 SPDR S&P Insurance KIE 84.64 0.69 1.87 1.78 0.89 15.62 19.09 21.94 2.04 33.78 SPDR S&P Reg Bank KRE 56.08-0.37 2.86 0.48-0.64 31.19 41.63 46.89 0.92 60.72 SPDR Technology XLK 50.69-0.10 1.79 2.07 3.53 9.00 9.71 22.49 4.82 27.17 SPDR Utilities XLU 48.90 1.05 0.53 0.80 0.56 3.03-3.26 2.14 0.68 8.49 Teucrium Corn CORN 19.42 0.67-1.17 1.46 1.30 1.36 4.86-7.35 3.79-10.63 Teucrium Soybean SOYB 19.50-1.76-2.84-1.42 1.46 2.79 6.09 0.72 2.09 11.05 US Brent Oil BNO 15.56 2.17 1.57 1.30 0.13 15.34 19.05 12.84-0.77 39.43 US Natural Gas UNG 7.67-9.12-4.72-9.87-5.77 2.40-9.12 13.80-17.88 1.59 US Oil USO 11.54 1.23 1.32 1.14-0.35 12.26 17.28 5.87-1.54 23.55 8 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 8

ETF SECTOR RETURNS PERIOD PORTFOLIO BENCHMARK S&P 500 Nasdaq Dow Russell 2000 YTD 4.24 2.62 5.27 1.56 1.52 1 Week -1.02 0.12 0.11-0.11 0.52 4 Week 1.76 0.90 2.64 0.54 0.77 13 Week 14.70 10.18 12.29 12.20 18.43 26 Week 7.23 5.25 8.54 8.24 11.90 1 Year 36.06 22.20 29.88 23.86 39.79 Inception* 96.66 82.68 117.52 64.28 85.96 *Inception on 12/31/2011 ETF SECTOR PORTFOLIO HOLDINGS RANK FUND SYMBOL SHARES PRICE Value DATE PURCHASED PERCENT 2 VanEck Steel SLX 619.82 40.96 $25,387.82 05/09/16 12.91% 3 SPDR S&P Reg Bank KRE 397.97 56.08 $22,318.43 11/07/16 11.35% 4 SPDR Metals & Mining XME 622.59 33.56 $20,894.12 06/06/16 10.62% 5 SPDR S&P Bank KBE 392.41 44.12 $17,312.93 11/14/16 8.80% 7 Glb X Uranium URA 837.07 16.38 $13,711.24 01/30/17 6.97% 8 ishares US Broker Dealers IAI 333.68 51.98 $17,344.60 11/14/16 8.82% 9 SPDR Oil & Gas Equip XES 915.05 23.06 $21,101.05 12/19/16 10.73% 10 VanEck Coal KOL 1603.08 13.21 $21,176.63 07/05/16 10.77% 11 ishares US Financial Svcs IYG 140.07 109.35 $15,316.48 11/28/16 7.79% 11 ishares Semiconductor SOXX 169.30 130.50 $22,093.10 08/08/16 11.23% $196,656.41 100.00% THIS WEEK S ETF SECTOR TRADE RECOMMENDATIONS At the close of trading on February 6, 2017 we will make the following trades. Proceeds from multiple fund sales should be split evenly between new purchases. No Trades We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFs from the same sector. There is no minimum holding period for ETFs. Last Week s Sell Transactions Date Fund Symbol Shares Buy Value Sell Proceeds Profit 1/30/2017 SPDR Oil & Gas Explor XOP 358.72 42.45 $15,227.47 40.16 $14,406.01 -$821.46 9 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 9

ETF INTERNATIONAL MOMENTUM RANKINGS Name Symbol 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 VanEck Russia Sm Cap RSXJ 1 1 1 1 1 1 1 1 1 1 1 1 1 VanEck Russia RSX 19 12 10 6 4 3 3 3 2 2 2 2 2 WTree Japan Hedged DXJ 36 20 11 4 3 2 2 2 3 3 3 3 3 VanEck Brazil Small Cap BRF 3 3 3 3 5 8 12 12 10 8 5 4 4 ishares Brazil EWZ 2 2 2 2 2 4 5 6 6 4 4 5 5 Glb X Argentina ARGT 6 6 5 8 8 11 14 18 16 12 9 6 6 Glb X Norway 30 NORW 26 22 17 14 12 8 7 8 7 7 7 7 7 ishares Austria EWO 16 11 12 12 11 6 6 7 8 9 10 8 8 WTree Europe Hedged HEDJ 35 34 30 28 23 15 9 5 5 5 6 8 9 WTree Japan Sm Cap Div DFJ 10 7 7 7 6 5 4 4 4 6 8 10 10 ishares Poland EPOL 63 67 70 74 69 64 56 49 41 31 28 19 10 ishares All Peru EPU 7 5 6 9 9 10 10 10 11 13 15 14 12 ishares S&P Latin Am 40 ILF 4 4 4 5 7 12 20 23 24 22 19 16 13 WTree Dreyfus Brazil Real BZF 8 8 9 11 16 18 17 12 13 13 14 15 14 ishares Canada EWC 34 31 26 18 14 13 8 9 9 10 11 11 15 ishares MSCI Italy EWI 83 83 81 80 73 57 35 27 22 17 13 13 16 ishares Australia EWA 33 28 27 22 20 19 21 21 20 16 16 17 17 WTree Emg Markts HiYld DEM 15 15 15 15 14 14 15 17 18 18 17 18 18 Glb X Greece 20 GREK 82 79 62 43 32 25 22 20 11 11 12 11 19 ishares Global 100 IOO 41 36 35 33 28 22 16 14 14 15 17 20 20 ishares Taiwan EWT 9 9 8 10 10 7 10 16 19 21 21 21 21 VanEck Africa AFK 49 50 52 52 50 55 58 52 49 38 32 25 22 ishares Germany EWG 47 45 44 45 44 40 30 30 28 28 27 23 23 ishares Thailand Invest THD 30 33 32 31 30 28 28 26 26 25 25 23 23 ishares ACWI Index ACWI 43 38 36 35 31 26 22 22 23 23 23 22 25 ishares Pacific ex-japan EPP 30 29 28 25 25 27 27 28 30 29 29 30 26 ishares France EWQ 56 55 47 46 42 37 29 29 27 27 26 27 27 ishares DJ Euro 50 FEZ 61 60 58 57 50 44 39 32 31 30 29 28 28 ishares Japan EWJ 28 26 21 18 18 17 17 19 21 24 24 26 29 ishares Sweden EWD 65 64 64 59 56 51 45 42 39 42 41 38 30 Glb X Colombia GXG 39 53 60 64 61 56 50 46 37 33 34 33 31 ishares Spain EWP 59 62 63 66 63 54 45 40 36 34 35 35 32 ishares EMU Index EZU 57 57 54 56 47 45 41 34 32 32 33 32 33 ishares South Korea EWY 29 35 40 39 40 39 42 41 46 45 42 41 34 WTree Euro Sm Cap Div DFE 64 63 65 61 60 58 51 47 43 41 39 37 35 ishares Japan Sm Cap SCJ 18 14 13 16 19 23 25 24 25 26 29 33 36 ishares Chile ECH 22 19 18 20 17 16 24 25 29 34 36 36 37 WTree USD Bullish USDU 60 43 37 32 27 23 19 15 17 20 20 29 38 PShares USD Bullish UUP 53 39 33 25 22 21 13 11 15 19 21 31 39 ishares ACWI ex-us ACWX 44 40 41 40 39 36 31 33 33 36 37 39 40 WTree Emg Mkt Sm Cap DivDGS 19 24 25 30 35 33 34 36 40 43 44 42 40 ishares Emerging Markets EEM 23 27 29 33 36 34 36 39 42 43 44 42 42 ishares MSCI EAFE EFA 54 53 46 44 45 42 38 35 35 37 37 39 42 SPDR Emg Mkts Sm Cap EWX 21 23 24 27 33 32 32 37 45 47 49 47 44 ishares Singapore EWS 72 70 69 61 54 49 53 55 54 51 50 51 45 ishares S&P Europe 350 IEV 67 65 66 67 64 60 54 51 48 47 46 46 46 Wtree Intl Hedged IHDG 62 61 55 50 50 49 43 37 38 39 40 44 47 10 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 10

ETF INTERNATIONAL MOMENTUM RANKINGS Name Symbol 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 ishares South Africa EZA 37 47 50 55 58 62 64 62 57 53 52 48 48 China Large Cap FXI 17 16 16 13 13 20 26 31 34 39 43 45 49 ishares Netherlands EWN 51 50 48 49 53 53 49 48 47 49 47 48 50 SPDR MidEast & Africa GAF 41 56 59 59 65 69 65 66 62 56 53 52 51 ishares Finland EFNL 45 49 53 54 49 51 47 44 44 46 48 50 52 VanEck India Sm Cap SCIF 5 10 23 36 38 43 60 68 69 62 61 57 53 ishares MSCI U Kingdom EWU 78 76 74 72 67 62 59 53 52 50 51 53 54 ishares Switzerland EWL 69 66 68 73 73 72 68 64 60 58 55 55 55 Gugg China Sm Cap HAO 25 25 22 21 24 29 37 45 51 52 54 54 56 ishares Asia ex Japan AAXJ 27 31 34 37 37 41 48 54 55 56 59 57 57 WTree India EPI 24 30 38 41 43 47 55 57 56 60 60 61 58 ishares Ireland EIRL 81 80 78 75 75 73 69 64 60 59 57 56 59 ishares Hong Kong EWH 13 13 14 17 21 30 39 50 53 55 57 59 60 db xtrackers China ASHR 55 41 39 28 26 31 32 43 50 53 55 60 61 ishares Israel Cap Invest EIS 79 74 72 70 70 70 65 67 64 62 63 63 62 ishares New Zealand ENZL 38 44 45 47 48 61 65 70 71 70 70 65 63 Gugg China RE TAO 11 17 19 22 29 34 44 56 58 61 62 62 64 PwrShrs Golden Dragon PGJ 14 18 20 24 34 37 52 59 64 62 64 64 65 CurrShrs Aust Dollar FXA 47 41 42 42 46 48 57 59 66 69 66 66 66 ishares Belguim EWK 52 59 61 63 68 71 73 69 68 68 65 66 67 ishares India 50 INDY 32 37 43 48 57 67 71 73 73 72 72 71 68 CurrShrs Can Dollar FXC 76 71 71 68 66 65 63 63 67 67 68 68 69 WTree Emg Currency CEW 50 50 51 50 55 59 61 58 59 65 67 69 70 VanEck Indonesia IDX 12 21 31 38 41 46 62 61 62 66 69 70 71 ishares MSCI Emg MinVol EEMV 40 46 49 53 59 65 71 72 70 71 71 72 72 Wtree Asia Local Debt ALD 58 58 56 57 61 68 70 71 72 72 73 73 73 WTree China Yuan CYB 76 73 72 71 71 74 74 74 74 74 74 74 74 ishares MSCI EAFE MinVol EFAV 73 77 79 79 80 78 78 77 77 77 75 75 75 CurrShrs SwissFranc FXF 70 67 67 69 72 75 75 75 75 75 76 76 76 ishares S&P World Property WPS 68 72 76 77 78 76 76 76 76 76 77 77 77 ishares Denmark EDEN 85 85 86 85 86 86 85 85 83 80 79 79 78 Euro Currency Trust FXE 74 74 77 76 77 77 77 78 78 78 78 78 79 CurrShrs Swed Krona FXS 87 86 84 83 83 83 83 82 80 79 80 80 80 VanEck Vietnam VNM 75 78 80 81 81 82 84 84 84 82 82 81 81 ishares Maylasia EWM 80 81 82 82 82 81 82 83 85 83 83 82 82 CurrShrs Brit Pound FXB 88 88 88 87 85 84 81 81 81 84 84 84 83 Vanguard Intl Bond BWX 66 69 75 78 79 80 79 79 79 81 81 83 84 ishares Philippines EPHE 83 84 85 86 87 87 87 87 87 86 86 86 85 CurrShrs Japanese Yen FXY 46 48 56 65 76 79 80 80 82 85 85 85 86 ishares Mexico EWW 71 82 83 84 84 85 86 86 86 87 87 87 87 ishares Turkey TUR 86 87 87 88 88 88 88 88 88 88 88 88 88 Glb X Nigeria NGE 90 90 90 89 89 89 89 89 89 89 89 89 89 VanEck Egypt EGPT 89 89 89 90 90 90 90 90 90 90 90 90 90 11 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 11

ETF INTERNATIONAL PERFORMANCE RETURNS Name Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year CurrShrs Aust Dollar FXA 76.85 1.80 1.76 2.49 5.60 0.65 1.04 3.53 6.64 7.95 CurrShrs Brit Pound FXB 121.77-0.56 0.97 2.40 1.27 1.49-5.12-14.05 1.26-14.74 CurrShrs Can Dollar FXC 75.85 0.82 2.29 0.74 2.17 2.72-0.21-1.47 3.10 5.30 CurrShrs Japanese Yen FXY 85.55 2.19 1.59 1.64 4.08-8.39-10.45-5.21 3.67 3.94 CurrShrs Swed Krona FXS 110.84 1.33 1.90 2.05 4.43 1.77-2.71-9.72 4.23-4.79 CurrShrs SwissFranc FXF 96.06 0.66 0.95 1.55 2.85-2.16-2.44-3.27 2.49 0.01 db xtrackers China ASHR 24.78-0.52 0.45 2.06 1.27 1.30 3.05 3.39 5.67 12.63 Euro Currency Trust FXE 104.64 0.79 0.75 1.29 2.72-3.01-3.52-6.03 2.33-3.72 Glb X Argentina ARGT 26.49 2.87 4.91 5.41 11.02 14.85 17.49 31.23 14.87 59.98 Glb X Colombia GXG 9.74 1.88 2.96 2.96 3.51 9.48 13.37 11.83 6.80 37.11 Glb X Greece 20 GREK 7.88-0.38-0.38-1.99-3.31 9.61 12.37-0.19 1.16 15.94 Glb X Nigeria NGE 4.11-3.52-2.14-0.96-0.24-6.40-4.92-33.98-3.52-27.38 Glb X Norway 30 NORW 11.86 0.34 2.15 3.67 5.24 11.91 18.31 16.84 7.43 34.61 Gugg China RE TAO 20.97 0.38 1.85 0.72 4.38-1.34 1.42 13.57 7.26 30.30 Gugg China Sm Cap HAO 23.74 0.89 2.46 3.13 5.28 2.90 7.26 9.80 6.51 21.00 ishares ACWI ex-us ACWX 42.15 0.33 1.76 1.30 2.96 5.76 5.50 9.98 4.67 17.74 ishares ACWI Index ACWI 61.35 0.26 1.42 1.07 2.01 8.27 6.63 12.39 3.68 20.55 ishares All Peru EPU 35.46 1.46 4.23 3.99 5.54 9.99 1.92 23.18 8.11 82.85 ishares Asia ex Japan AAXJ 59.55 0.98 3.64 3.08 6.30 3.37 4.90 15.92 8.41 24.04 ishares Australia EWA 21.59 0.89 1.41 0.75 3.55 10.89 7.30 15.23 6.72 29.58 ishares Austria EWO 17.70 0.74 2.55 3.69 4.80 8.89 20.17 15.78 7.08 27.36 ishares Belguim EWK 17.97 0.62 1.24 0.67 1.53 2.12 2.24 3.30 2.63 7.30 ishares Brazil EWZ 37.60-0.45 2.51 4.62 8.01 6.27 12.79 38.78 12.78 94.52 ishares Canada EWC 27.27 0.04 1.64 0.52 1.98 9.73 9.60 14.95 4.28 32.83 ishares Chile ECH 40.22 1.98 3.15 3.85 7.86 1.35 5.28 9.71 7.48 27.29 ishares China Large Cap FXI 36.63-0.52 0.94 0.16 3.15 2.03 5.55 16.53 5.53 24.51 ishares Denmark EDEN 53.97 0.67 2.49 2.55 4.47 5.17-4.15-2.75 5.84 2.97 ishares DJ Euro 50 FEZ 34.34 0.03 0.18 0.32 1.72 7.15 8.78 7.55 2.63 12.35 ishares Emerging Markets EEM 37.75 0.75 3.65 2.92 5.74 4.89 5.47 17.39 7.83 27.72 ishares EMU Index EZU 35.68 0.11 0.73 0.90 2.23 6.60 8.37 7.43 3.12 12.73 ishares Finland EFNL 33.43-1.15-0.59 0.54 0.39 4.91 2.91 8.58 1.61 10.47 ishares France EWQ 25.22 0.32 0.16-0.08 1.57 6.39 8.03 7.59 2.23 12.88 ishares Germany EWG 27.65-0.47 1.24 1.95 3.71 8.43 9.33 10.90 4.42 17.33 ishares Global 100 IOO 78.65 0.24 1.37 0.78 1.25 8.50 7.45 13.63 2.52 19.28 ishares Hong Kong EWH 21.01-0.19 1.35 1.99 5.42-1.14 2.74 11.50 7.85 23.94 ishares India 50 INDY 30.03 3.16 7.02 5.78 8.69 2.92 1.91 14.03 9.84 19.87 ishares Ireland EIRL 38.88 0.60 0.78 0.91 2.61 7.28 7.01 0.83 3.60 1.74 ishares Israel Cap Invest EIS 48.42-0.72 2.13 1.70 1.70 6.16-0.70 3.73 4.35 7.80 ishares Japan EWJ 51.05 0.43 1.11 0.31 1.59 3.29 7.06 13.35 4.48 16.50 ishares Japan Sm Cap SCJ 64.47 1.67 2.06 0.99 2.22 1.53 6.72 13.33 4.71 19.61 ishares Maylasia EWM 29.46 0.31 2.22 1.45 4.10-3.19-6.14-4.58 4.95-1.19 ishares Mexico EWW 46.02 2.04 7.93 7.90 6.77-4.98-6.82-8.68 4.66-2.19 ishares MSCI EAFE EFA 60.14 0.28 1.26 0.92 2.37 6.26 5.67 8.37 4.17 13.61 ishares MSCI EAFE MinVol EFAV 63.68 1.06 1.53 1.26 2.86 1.41-3.12-0.88 4.02 3.44 ishares MSCI Emg MinVol EEMV 51.32 0.88 2.41 1.91 3.45-0.28-1.93 5.57 4.93 12.99 ishares MSCI Italy EWI 24.30-0.29-1.58-1.02-1.46 11.58 13.86 3.87 0.37 8.52 ishares MSCI U Kingdom EWU 31.50-0.25 1.06 0.54 1.25 7.38 2.56 3.64 2.64 8.17 12 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 12

ETF INTERNATIONAL PERFORMANCE RETURNS Name Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year ishares Netherlands EWN 25.13 1.09 1.41 2.11 3.33 5.14 6.82 6.62 4.06 11.45 ishares New Zealand ENZL 43.65 0.48 3.26 4.00 7.75 4.73-1.96 9.67 9.87 27.46 ishares Pacific ex-japan EPP 42.66 0.78 1.67 1.57 4.92 7.42 5.75 13.61 7.81 28.03 ishares Philippines EPHE 34.41-0.78 1.33 0.29 2.62-0.84-12.64 1.95 6.14 9.21 ishares Poland EPOL 20.33 0.49 5.78 6.11 9.13 14.12 13.31 15.35 12.20 21.49 ishares S&P Europe 350 IEV 40.09 0.12 1.19 1.01 2.17 7.17 5.11 5.78 3.30 10.47 ishares S&P Latin Am 40 ILF 30.74-0.23 3.19 5.17 8.01 4.82 10.52 23.21 11.46 53.68 ishares S&P World Property WPS 34.66 1.23 1.73 0.99 1.67-0.31-5.24-1.78 3.12 8.26 ishares Singapore EWS 21.92 1.58 2.53 2.57 7.19 9.65 4.39 8.84 9.98 24.56 ishares South Africa EZA 55.51 0.74 1.97 0.04 3.76 2.55-2.96 14.81 6.02 30.28 ishares South Korea EWY 58.91 2.99 4.90 3.92 8.29 9.43 8.14 18.24 10.69 26.23 ishares Spain EWP 27.77 0.54 2.25 1.54 3.12 5.55 11.98 5.96 4.75 13.98 ishares Sweden EWD 30.92 2.28 4.00 4.74 6.29 13.32 11.36 10.41 7.62 19.78 ishares Switzerland EWL 30.80 0.29 1.78 0.92 3.15 6.57 2.87 6.17 4.55 8.65 ishares Taiwan EWT 31.69 0.41 3.43 2.92 6.34 5.05 6.99 28.42 7.90 30.27 ishares Thailand Invest THD 76.40 0.86 3.66 2.19 3.68 7.60 6.16 19.07 5.98 28.89 ishares Turkey TUR 35.17 9.91 8.58 7.98 11.79-3.73-6.24-10.37 8.32-4.93 MV Africa AFK 21.38 0.75 0.38 1.76 6.10 7.58 5.11 10.56 8.03 32.82 MV Brazil Small Cap BRF 18.89 2.00 6.00 9.13 12.64 12.01 12.71 53.31 18.88 100.07 MV Egypt EGPT 26.48-2.03 0.34-3.22-2.72-29.71-31.55-28.37 0.30-19.67 MV India Sm Cap SCIF 47.61 4.66 9.02 8.18 11.63 1.45 9.65 23.30 16.78 28.96 MV Indonesia IDX 22.05 1.61 4.11 1.85 2.23-3.59-5.23 13.42 3.86 17.97 MV Russia RSX 21.80-1.27 3.42 1.63 0.18 21.74 22.21 31.02 2.73 55.81 MV Russia Sm Cap RSXJ 41.51 0.58 1.79 1.87 6.35 26.81 50.17 78.94 8.98 139.50 MV Vietnam VNM 13.67 0.29 2.78 1.18 2.17 0.08-3.24-1.89 4.83 2.49 PShares USD Bullish UUP 25.78-0.81-0.96-1.45-2.72 2.30 4.16 6.13-2.57 2.18 PwrShrs Golden Dragon PGJ 31.07-0.03 1.54 1.01 5.82 0.98 6.71 6.58 8.67 14.40 SPDR Emg Mkts Sm Cap EWX 43.35 2.26 4.79 4.76 7.01 4.69 6.19 16.69 9.14 25.99 SPDR MidEast & Africa GAF 58.81-0.24 0.62 0.19 6.25 1.95-0.77 11.78 5.77 30.24 Vanguard Intl Bond BWX 26.31 1.00 1.00 0.50 2.21-5.56-8.55-6.59 1.27-0.66 Wtree Asia Local Debt ALD 44.04 0.64 1.63 0.84 2.52-0.41-2.55-0.20 3.51 4.49 WTree China Yuan CYB 24.14 0.67 0.58 1.56 2.51 0.04-2.15-3.09 3.78-0.29 WTree Dreyfus Brazil Real BZF 18.07 0.06 1.35 3.73 4.15 6.29 7.88 22.59 6.04 38.04 WTree Emg Currency CEW 18.01 1.46 1.92 2.16 2.68-0.39 0.45 2.10 2.97 9.02 WTree Emg Markts HiYld DEM 39.50 0.23 2.78 1.46 3.57 6.71 7.02 20.29 5.78 36.74 WTree Emg Mkt Sm Cap Div DGS 42.32 1.85 3.73 3.83 6.17 5.42 3.39 17.82 8.21 31.88 WTree Euro Sm Cap Div DFE 57.28 0.86 1.74 2.38 3.67 9.04 9.04 5.77 4.87 12.83 WTree Europe Hedged HEDJ 58.08-0.45 0.54 0.17 0.33 9.81 12.53 16.32 1.18 19.08 WTree India EPI 22.03 2.94 6.48 5.00 7.25 3.75 4.48 16.53 9.06 23.24 Wtree Intl Hedged IHDG 26.93 0.11 0.45 0.30 1.32 6.74 3.11 7.74 2.20 9.12 WTree Japan Hedged DXJ 50.41-1.43 0.04-0.51-1.77 15.92 25.68 23.83 1.76 15.71 WTree Japan Sm Cap Div DFJ 65.08 1.39 1.89 0.93 2.26 4.81 12.69 20.13 5.10 24.41 WTree USD Bullish USDU 27.30-1.41-1.80-2.15-3.09 2.44 4.28 4.88-2.40 0.15 13 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 13

ETF INTERNATIONAL PORTFOLIO PERFORMANCE PERIOD PORTFOLIO MSCI EAFE S&P 500 Nasdaq Dow Russell 2000 YTD 6.53 3.43 2.62 5.27 1.56 1.52 1 Week 0.47 0.01 0.12 0.11-0.11 0.52 4 Week 3.50 1.63 0.90 2.64 0.54 0.77 13 Week 4.60 6.26 10.18 12.29 12.20 18.43 26 Week 2.18 4.59 5.25 8.54 8.24 11.90 1 Year 14.12 11.18 22.20 29.88 23.86 39.79 Inception* 34.40 23.31 82.68 117.52 64.28 85.96 *Inception on 12/31/2011 INTERNATIONAL PORTFOLIO HOLDINGS RANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT 2 VanEck Russia RSX 591.14 21.80 $12,886.94 11/21/16 9.59% 3 WTree Japan Hedged DXJ 210.48 50.41 $10,610.10 11/28/16 7.89% 4 VanEck Brazil Small Cap BRF 704.32 18.89 $13,304.67 01/09/17 9.90% 5 ishares Brazil EWZ 428.91 37.60 $16,127.01 04/18/16 12.00% 6 Glb X Argentina ARGT 683.68 26.49 $18,110.65 01/23/17 13.47% 7 Glb X Norway 30 NORW 1140.31 11.86 $13,524.09 12/19/16 10.06% 8 ishares Austria EWO 697.44 17.70 $12,344.75 11/21/16 9.18% 9 WTree Europe Hedged HEDJ 209.79 58.08 $12,184.36 12/27/16 9.07% 10 WTree Japan Sm Cap Div DFJ 195.50 65.08 $12,722.93 11/07/16 9.47% 15 ishares Canada EWC 461.66 27.27 $12,589.40 12/27/16 9.37% $134,404.91 100.00% THIS WEEK S INTERNATIONAL TRADE RECOMMENDATIONS At the close of trading on February 6, 2017 we will make the following trades. Proceeds from multiple fund sales should be split evenly between new purchases. We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFs from the same geographic region. There is no minimum holding period for ETFs. Canada Poland Sell Buy EWC EPOL Last Week s Sell Transactions Date Fund Symbol Shares Buy Value Sell Proceeds Profit No trades last week 14 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 14

ETF BLENDED PORTFOLIO PERIOD PORTFOLIO S&P 500 Nasdaq RUSSELL 2000 MSCI EAFE YTD 3.44 2.62 5.27 1.52 3.43 1 Week -1.42 0.12 0.11 0.52 0.01 4 Week 1.40 0.90 2.64 0.77 1.63 13 Week 1.45 10.18 12.29 18.43 6.26 26 Week 0.75 5.25 8.54 11.90 4.59 1 Year 7.34 22.20 29.88 39.79 11.18 Inception* -8.32 24.29 35.68 21.08 18.41 *Inception on 12/31/2013 BLENDED PORTFOLIO HOLDINGS RANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT 3 Market Vectors Steel SLX 330.79 40.96 $13,549.36 05/02/16 14.78% 4 SPDR Regional Bank KRE 137.44 56.08 $7,707.54 05/23/16 8.41% 6 SPDR Bank KBE 161.27 44.12 $7,115.12 09/19/16 7.76% 8 Global X Uranium URA 424.57 16.38 $6,954.39 01/30/17 7.59% 11 Market Vectors Coal KOL 923.88 13.21 $12,204.44 07/05/16 13.31% 13 ishares Semiconductor SOXX 74.89 130.50 $9,773.74 08/15/16 10.66% 14 ishares Oil Equipment IEZ 239.95 46.21 $11,087.97 08/29/16 12.09% 17 WTree Japan Hedged DXJ 166.08 50.41 $8,372.05 12/27/16 9.13% 20 VanEck Brazil Small Cap BRF 382.28 18.89 $7,221.25 10/10/16 7.88% 103 WTree USD Bullish USDU 281.89 27.30 $7,695.65 05/16/16 8.39% $91,681.51 100.00% THIS WEEK S INTERNATIONAL TRADE RECOMMENDATIONS At the close of trading on February 6, 2017 we will make the following trades. Proceeds from multiple fund sales should be split evenly between new purchases. We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFs from the same country or sector. There is no minimum holding period for ETFs. No Trades Last Week s Sell Transactions Date Fund Symbol Shares Buy Value Sell Proceeds Profit 1/30/2017 SPDR Oil & Gas Explor XOP 181.62 $42.22 $7,668.04 40.16 $7,306.78 -$361.25 15 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 15

16 PHONE: (888) 252-5372 WWW.MUTUALFUNDINVESTORGUIDE.COM 16

WHAT IS THE GLOBAL MOMENTUM GUIDE? The Mutual Fund Investor Guide: Global Momentum Guide delivers a strategy which entails investing in momentum leading exchange-traded funds (ETFs) and mutual funds, with the goal of generating long-term market beating gains. Momentum investing involves finding the stocks or sectors that are outperforming the market and buying them, while avoiding or even shorting stocks or sectors that are under performing. How the Global Momentum Guide Works Each week, the Global Momentum Guide will report updated momentum rankings along with trade advice. Subscribers receive buy, sell and hold advice on several portfolios made up of Fidelity Select mutual funds, sector ETFs and international ETFs. Investors hold the top 10 funds based on our proprietary ranking system, adjusted for correlation. When a fund falls from the top 10, we will issue a sell signal on it, and simultaneously issue a buy order on a rising fund that replaces it. Funds that remain in the top 10 are held. The system used by the Global Momentum Guide is designed to generate longterm out performance. It is also designed to remove human emotion from trading. Sometimes sell orders are issued for sectors that are extremely popular with investors and other times it will issue a hold signal on a sector experiencing a large correction that has many investors panicking. This can result in volatile returns, but our experience with the system has shown that some of the largest gains are made in sectors that experience big corrections during the course of a bull market. One of the biggest benefits of using the Global Momentum Guide is that it takes emotion and guesswork out of investing. Why the Global Momentum Guide Works Different sectors lead the stock market at each stage of a market cycle. For instance, consumer discretionary stocks typically lead in the early stage of a bull market, technology stocks lead in the middle, and consumer staples lead at the end. These stages of the market can last for months or even years. Countries, commodities and currencies all experience the same cyclical movements as investor move in and out of investments in waves. There are many explanations for cyclical behavior in the markets, but we don t worry about the whys because the Global Momentum Guide uses a mechanical system of technical indicators to select investments. These signals tells us which funds are leading and which are lagging, and we position the portfolio in the leading funds. If technology stocks lead in the early part of a bull market, our system will pick that up and issue a buy signal. Momentum investing works because investors have been reliably predictable throughout history there hasn t been a market yet where investors didn t exhibit some cyclical behavior. The Global Momentum Guide is designed to capture the gains from these big winners during each bull market phase of the stock market. What Do I Get When I Subscribe? Every week you will receive an updated ranking of all the funds covered in our newsletter, plus buy, hold and sell advice on each of the portfolios. How Do I Begin Following the Model? To begin following a model, purchase equal dollar amounts of each holding in the model. We will hold the funds for at least a week in the case of ETFs, and for 30 days with Fidelity Select funds due to a short term trading fee on Fidelity Select funds held less than 30 days. SUBSCRIPTION REFUND POLICY 30 DAY 100% GUARANTEE; NO REFUNDS AFTER 30 DAYS. ETF INVESTOR GUIDE Each month we provide buy, hold and sell recommendations for hundreds of ETFs from companies including Fidelity, ishares, SPDR and Power- Shares. Additionally, you will also have access to our model portfolios, specifically created for conservative, moderate and aggressive investors. To learn more, call (888) 252-5372. INVESTOR GUIDE TO VANGUARD FUNDS For years, we have covered a limited number of Vanguard mutual funds. In 2014, we launched a newsletter dedicated specifically to Vanguard funds and no-transaction-fee funds accessible to Vanguard investors. We provide numerous model portfolios, plus buy, hold and sell recommendations on over 400 mutual funds. I am confident you will find this advice invaluable as you make your investment decisions. To learn more, call (888) 252-5372. DISCLOSURE: Mutual Fund Investor Guide, LLC (MFIG) is an independent company unaffiliated with any of the fund companies discussed in this newsletter, including Fidelity Investments. These results include the reinvestment of all dividends and capital gains. Model trading does not involve financial risk; model trading cannot completely duplicate the financial risk associated with actual trading. MFIG is not an investment advisor and does not provide specific investment advice. This newsletter has been prepared solely for informational purposes. PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. All investments involve risk including total loss of principal. WWW.MUTUALFUNDINVESTORGUIDE.COM 17