1.

Consider a portfolio that equally-weights all nine ETFs, that is, weight equals to 1/9 for each of them. The Expected Alpha of such portfolio is closest to:

	a.	0.6%
	b.	-0.75%
	c.	-0.1%
	d.	0.0%
	e.	-0.4%

2.

Consider a portfolio that equally-weights all nine ETFs, that is, weight equals to 1/9 for each of them. The Active Risk of such portfolio is closest to:

	a.	4.9%
	b.	8.2%
	c.	0.1%
	d.	2.7%
	e.	3.3%