An investor is evaluating the returns of three recently formed exchange-traded funds. Selected return information on the

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An investor is evaluating the returns of three recently formed exchange-traded funds. Selected return information on the exchange-traded funds (ETFs) is presented in Exhibit 16. 

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1. Which ETF has the highest annualized rate of return?

A. ETF 1

B. ETF 2

C. ETF 3

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