Calculate STand-Alone risk on:

      Estimated one-year return distributions:                           State of the   1-Year Healthcare Inverse Biotech S&P   Economy Probability T-Bill Fund ETF Fund 500   Poor 0.1 7% -8% 18% -19% -15%   Below average 0.2 7% 2% 23% 0% 0%   Average 0.4 7% 14% 7% 13% 15%   Above average 0.2 7% 25% -3% 31% 30%   Excellent 0.1 7% 33% 2% 50% 45%                   Historical   return distributions:                               1-Year Healthcare Inverse Biotech S&P       T-Bill Fund ETF Fund 500   Year 1   7% -8% 18% -19% -15%   Year 2   7% 2% 23% 0% 0%   Year 3   7% 14% 7% 13% 15%   Year 4   7% 25% -3% 31% 30%   Year 5   7% 33% 2% 50% 45%             Stand-alone return and risk:                   1-Year Healthcare Inverse Biotech S&P       T-Bill Fund ETF Fund 500   Expected   return [E(R)] 7.0% 13.5% 8.8% 14.5% 15.0%   Variance (Var)   0.0% 1.4% 0.8% 3.4% 2.7%   Standard   deviation (SD) 0.0% 11.7% 9.1% 18.3% 16.4%   Coefficient   of variation (CV) 0.00 0.87 1.03 1.26 1.10