There is risk of loss in trading futures. Past performance either actual or hypothetical is not necessarily indicative of future results. CTAs labeled “QEP ONLY” are for those individuals and entities that qualify and meet the definition of QEP as discussed in CFTC Regulation 4.7.

THIS MATERIAL RANKED PERFORMANCE OF COMMODITY TRADING ADVISORS. PLEASE NOTE THAT THE RANKINGS APPLY ONLY TO THOSE CTAS WHO SUBMIT THEIR TRADING RESULTS. THE RANKINGS IN NO WAY PURPORT TO BE REPRESENTATIVE OF THE ENTIRE UNIVERSE OF COMMODITY TRADING ADVISORS. FOREMOST MAY ELECT TO NOT LIST CERTAIN ADVISORS. THE MATERIAL IN NO WAY IMPLIES THAT THESE RESULTS ARE OFFICIALLY SANCTIONED RESULTS OF THE COMMODITY INDUSTRY.

Please review each program tear sheet carefully. Return and drawdown rates alone are not adequate indicators of programs’ performance. Investors should consider other factors including but not limited to: their personal risk tolerance and profile, the traders’ trading style, minimum funding, max peak-valley drawdowns, drawdown recovery, etc. Investors should carefully review the trader’s disclosure document before investing. Some of the CTAs listed above may have track records of less than three years. Please consult a Foremost Alternative Investment Specialist to better evaluate CTA program performance.