22. The performance of the Venus Fund, a common stock mutual fund, compared with that of the S&P 500 over a ten-year period, is as follows:

Dazzy Vance is considering investing in either the Venus Fund or another mutual fund whose objective is to track the performance of the S&P 500. Which fund would you recommend that Dazzy select, assuming that your decision is based solely on past performance?Justify your answer using various measures of risk-adjusted performance.

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Venus Fund S&P 500 Average quarterly excess return 0.6% 0.5% Standard deviation of quarterly 9.9% 6.6% excess returns Beta 1.10 1.00