Market Updates

Quarterly Market Update - AlphaSector Premium Index 1st Quarter 2012

Quarterly Market Update - AlphaSector Allocator Premium Index 1st Quarter 2012

Quarterly Market Update - AlphaSector Global Premium Index 1st Quarter 2012

Quarterly Market Update - AlphaSector Rotation Index 1st Quarter 2012

AlphaSector 2011: Market Performance Perspective January 27, 2012

Quarterly Market Update - AlphaSector Premium Index 4th Quarter 2011

Quarterly Market Update - AlphaSector Allocator Premium Index 4th Quarter 2011

Quarterly Market Update - AlphaSector Global Premium Index 4th Quarter 2011

Quarterly Market Update - AlphaSector Rotation Index 4th Quarter 2011

Quarterly Market Update 3rd Quarter 2011

Special Market Update Part II August 15, 2011

Special Market Update August 8, 2011

Market Update July 19, 2010

Market Update May 20, 2010

Market Update May 10, 2010

Market Update January 12, 2011



Legal:

Copyright © F-Squared Investments, Inc. All rights reserved. “AlphaCycle” and “AlphaSector” are service marks of F-Squared Investments, Inc. This material is proprietary and may not be reproduced, transferred or distributed in any form without prior written permission from F-Squared Investments, Inc. or Active Index Solutions, LLC (“AIS”). The firms reserve the right at any time and without notice to change, amend, or cease publication of the information. This material has been prepared solely for informative purposes. The information contained herein has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed. It is made available on an "as is" basis without warranty. Investment products that may be based on AlphaCycle or AlphaSector Indexes are not necessarily sponsored by AIS or F-Squared Investments, Inc. and neither firm makes any representation regarding the advisability of investing in them. Inclusion of a mutual fund or exchange traded fund in an index does not in any way reflect an opinion of Active Index Solutions or F-Squared Investments regarding the investment merits of such a fund. None of the funds included in the index have given any real or implied endorsement or support to Active Index Solutions or to this index. One cannot invest directly in an index. Returns represent past performance, and are not guarantees of future results or indicative of any specific investment.

Although AlphaSector Indexes do not short securities nor utilize leverage or derivatives, the ETFs that AlphaSector tracks may make use of such financial instruments or strategies.

Some of the returns presented reflect hypothetical performance an investor would have obtained had it invested in the manner shown and does not represent returns that an investor actually attained. Hypothetical backtested performance has many inherent limitations. The hypothetical performance is adjusted to reflect the reinvestment of dividends. The fee schedule and anticipated expenses are included in the client agreement. F-Squared’s fees are available upon request and also may be found in Part II of its Form ADV. Past performance is no guarantee of future results. AlphaSector Rotation Index is the exclusive property of F-Squared Investments, Inc. and AIS. AIS has contracted with The NASDAQ OMX Group, Inc. (collectively, with its subsidiaries and affiliates, “NASDAQ OMX”) to calculate and maintain the AlphaSector Rotation Index. NASDAQ OMX shall have no liability for any errors or omissions in calculating the AlphaSector Rotation Index.

AlphaSector Premium Index is the exclusive property of F-Squared Investments, Inc. and AIS. AIS calculates and publishes the value of the index on a monthly basis. Sources: Morningstar Direct.