Performance

Current Total Returns Period Ending January 31, 2012

          Average Annualized Returns Cumul
Return
Since
Incep		 Inception
Date
  1 Mo YTD 3 Mo 6 Mo 1 Yr 5 Yr 10 Yr Since Incept
FundX Upgrader Fund 3.42 3.42 3.45 -3.14 -2.48 -2.21 4.77 5.40 71.44 11/1/01
FundX Aggressive Upgrader 4.40 4.40 3.66 -4.19 -2.13 -1.99 n/a 6.68 85.91 7/1/02
FundX Conservative Upgrader 1.86 1.86 2.63 -2.04 -1.36 0.36   5.98 74.52 7/1/02
FundX Flexible Income 1.33 1.33 1.66 -1.58 1.62 4.55 5.90 73.18 7/1/02
FundX ETF Aggressive Upgrader 3.61 3.61 2.39 -8.55 -4.02 N/A
 		   -1.35 -6.58 1/31/07
FundX ETF Upgrader 2.60 2.60 3.90 -1.57 -0.52 -2.99 -14.08 1/31/07
FundX Tactical Upgrader 2.08 2.08 4.35 4.41 5.27 -6.13 -21.97 2/29/08
FundX Tactical Total Return 1.66 1.66 3.44 1.96 3.48 5.31 14.86 5/29/09
Expense Ratios Gross Net
FundX Upgrader Fund 1.83 1.23
FundX Aggressive Upgrader 1.86 1.30
FundX Conservative Upgrader 1.97 1.31
FundX Flexible Income 1.58 0.92
FundX ETF Aggressive Upgrader 1.85 1.50
FundX ETF Upgrader Fund 2.69 1.50
FundX Tactical Upgrader 1.63 1.44
FundX Tactical Total Return 3.32 1.50

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data quoted is current to the most recent month end. Returns shown are cumulative, unless otherwise noted. Performance data shown does not reflect the 2.00% redemption fee imposed on shares held less than 30 days. If it did, total returns would be reduced. (There is no redemption fee for the FundX ETF Upgrader Funds (REMIX and UNBOX)).
The net expense ratios for the ETF Aggressive Updgrader Fund, the ETF Upgrader Fund and the Tactical Total Return Fund reflect contractual fee waivers through February 28, 2012 and do not include Acquired Fund Fees and Expenses, Interest Expenses, Taxes and Extraordinary Expenses.  The remaining funds' Net expense ratio reflects the Fund expenses without Acquired Fund Fees and Expenses.

  • Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies.
  • Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods.
  • Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
  • Non-Diversification Risk –The Underlying Funds may invest in a limited number of issuers and therefore may be considered non-diversified.
  • Short Sales Risk –The Underlying Funds may engage in short sales, which could result in such a fund’s investment performance suffering if it is required to close out a short position earlier than it had intended.
  • ETF Trading Risk – Because the funds invest in ETFs, they are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.

The adviser has an agreement in place to limit expenses of the ETF Aggressive Upgrader Fund, ETF Upgrader Fund, and the Tactical Total Return Fund. Investment performance reflects contractual fee waivers in effect for the ETF Upgrader Fund, ETF Aggressive Upgrader Fund and the Tactical Total Return Fund. In the absence of such waivers, total return would be reduced. Returns shown include reinvestment of dividends and capital gains.

 

Average Annualized Total Returns Period Ending Dec 31, 2011

  1 Yr 5 Yr 10 Yr Since Inception Inception Date
FundX Upgrader Fund -4.66 -2.64 N/A 5.10 11/1/01
FundX Aggressive Upgrader -5.37 -2.52 6.26 7/1/02
FundX Conservative Upgrader -1.98 0.52 5.83 7/1/02
FundX Flexible Income 1.09 4.43 5.80 7/1/02
FundX ETF Aggressive Upgrader -7.68 N/A -2.08 1/31/07
FundX ETF Upgrader Fund -1.86 -3.55 1/31/07
FundX Tactical Upgrader -3.98 -6.76 2/29/08
FundX Tactical Total Return 2.61 4.82 5/29/09
Expense Ratios Gross Net
FundX Upgrader Fund 1.93% 1.21%
FundX Aggressive Upgrader 2.02% 1.28%
FundX Conservative Upgrader 2.02% 1.30%
FundX Flexible Income 1.49% 0.91%
FundX ETF Aggressive Upgrader 1.95% 1.50%
FundX ETF Upgrader Fund 2.76% 1.50%
FundX Tactical Upgrader 1.82% 1.46%
FundX Tactical Total Return 2.94% 1.50%

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data quoted is current to the most recent month end. Returns shown are cumulative, unless otherwise noted. Performance data shown does not reflect the 2.00% redemption fee imposed on shares held less than 30 days. If it did, total returns would be reduced. (There is no redemption fee for the FundX ETF Upgrader Funds (REMIX and UNBOX)).
The net expense ratios for the ETF Aggressive Updgrader Fund, the ETF Upgrader Fund and the Tactical Total Return Fund reflect contractual fee waivers through February 28, 2012 and do not include Acquired Fund Fees and Expenses, Interest Expenses, Taxes and Extraordinary Expenses.  The remaining funds' Net expense ratio reflects the Fund expenses without Acquired Fund Fees and Expenses.

  • Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies.
  • Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods.
  • Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
  • Non-Diversification Risk –The Underlying Funds may invest in a limited number of issuers and therefore may be considered non-diversified.
  • Short Sales Risk –The Underlying Funds may engage in short sales, which could result in such a fund’s investment performance suffering if it is required to close out a short position earlier than it had intended.
  • ETF Trading Risk – Because the funds invest in ETFs, they are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.

The net expense ratios for the ETF Aggressive Updgrader Fund, the ETF Upgrader Fund and the Tactical Total Return Fund reflect contractual fee waivers through February 28, 2012 and do not include Acquired Fund Fees and Expenses, Interest Expenses, Taxes and Extraordinary Expenses. Net expense ratios for all other funds reflect the Fund expenses without Acquired Fund Fees and Expenses.

The following chart shows the year-by-year performance of the FundX Upgrader Funds.

Fund 2002 2003 2004 2005 2006 2007 2008 2009 2010
FUNDX
-15.07
33.13
13.21
14.14
20.80
15.06
-42.37
23.29
12.20
HOTFX
N/A
41.81
10.69
17.62
20.33
19.14
-43.33
23.27
11.74
RELAX
N/A
29.07
12.85
7.83
17.72
7.37
-26.61
19.81
10.91
INCMX
N/A
15.78
4.93
1.99
8.55
4.99
-0.23
9.06
7.54
UNBOX
N/A
N/A
N/A
N/A
N/A
N/A
-39.54
20.08
8.40
REMIX
N/A
N/A
N/A
N/A
N/A
N/A
-41.59
17.10
11.97
TACTX
N/A
N/A
N/A
N/A
N/A
N/A
N/A
2.86
7.83
TOTLX
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
6.08
S&P 500 Index
-22.10
28.66
10.88
4.90
15.72
5.43
-37.03
26.41
14.76
Barc Agg Bond Index
N/A
6.91
4.34
2.43
4.33
6.97
5.24
5.93
6.54


Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent quarter and month end can be obtained by clicking here. Returns shown are cumulative, unless otherwise noted. Performance data shown does not reflect the 2.00% redemption fee imposed on shares held less than 30 days. If it did, total returns would be reduced. (There is no redemption fee for the FundX ETF Upgrader Funds (REMIX and UNBOX)).

Only full calendar year performance is shown above. You can find the inception dates for each of the Funds in the table below:

Inception Dates for the FundX Upgrader Funds are noted below
FundX Upgrader Fund (FUNDX) 11/01/2001
FundX Aggressive Upgrader Fund (HOTFX) 07/01/2002
FundX Conservative Upgrader Fund (RELAX) 07/01/2002
FundX Flexible Income Fund (INCMX) 07/01/2002
FundX ETF Upgrader Fund (REMIX) 01/31/2007
FundX Aggressive ETF Upgrader (UNBOX) 01/31/2007
FundX Tactical Upgrader Fund (TACTX) 02/29/2008
FundX Tactical Total Return Fund (TOTLX) 05/29/2009

The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. You cannot invest directly in an index.

The Barclay's U.S. Aggregate Bond Index is a market-capitalization-weighted index of investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. You cannot invest directly in an index.