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'Thanks for all your great guidance.'

Madeline Giordano, New York, NY

Fidelity Navigator and No-Load Navigator subscriber since 2001

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FIDELITY NAVIGATOR • NO-LOAD NAVIGATOR • MF/ETF NAVIGATOR • SECTOR NAVIGATOR
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Model Portfolio Performance
Portfolio
2003
2004
2005
2006
2007
2008
2009
* $100,000 Investment
Capital Appreciation
30.98% 19.48% 9.98% 14.06% 12.74% -32.25% 23.28% $153,393.66
Growth& Income
31.99% 16.09% 8.92% 15.29% 4.85% -29.50% 8.56% $149,578.23
S&P 500 Benchmark
28.69% 10.90% 3.00% 13.62% 3.53% -38.49% 23.45% $9,0510.16
* - Total numbers reflect performance since each portfolio inception. 1/1/2001


The No-Load Navigator newsletter has been specifically designed for investors with mutual fund holdings at Vanguard. The newsletter was begun in 2001 to offer a viable alternative to other publications available that only gave information on one fund family such Vanguard. Additionally, it does give valuable information on all Vanguard Funds and all choices in the Vanguard Variable Annuities. However, unlike other “Vanguard-specific” newsletters that you’ll find, the No-Load Navigator also analyzes and ranks all of the no-load, no-transaction fee funds available to Vanguard account holders through the Fund Access®.

To us, and to tens of thousands of subscribers, including all funds available to Vanguard account holders (in addition to Vanguard funds) only makes sense. In some cases there may be a better mutual fund alternative to a Vanguard fund. Or, a particular area or sector of the market may not be adequately represented by a Vanguard fund and for diversification purposes it may make sense to consider other fund families.

Best of all, all of the non-Vanguard funds in the newsletter are available without transaction fees or loads (some Vanguard funds may charge loads and/or fees). Utilizing both the best Vanguard and non-Vanguard funds has allowed the Navigator to achieve outstanding performance summarized above.

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