5. Consider the following results of factor regressions for four different U.S. equity ETFs. The factor regression model is the Fama-French Three Factor Model plus momentum (usually called the Four-Factor Model). Each row gives you the results of the factor regression for one of the four ETFs. The results are from Portfolio Visualizer.com. Start Date End Date Rm-Rf SMB HML MOM Alpha Annual Alpha R2 Jan 2010 Mar 2021 1.05 -0.11 -0.25 0.05 0.01% 0.09% 98.2% Jan 2010 Mar 2021 1.07 -0.11 -0.27 0.02 -0.02% -0.27% 97.3% Jan 2010 Mar 2021 1.02 -0.15 -0.19 0.09 0.01% 0.10% 98.0% Jan 2010 Mar 2021 1.06 -0.05 -0.24 0.04 -0.02% -0.21% 97.9% We typically classify ETFs that invest in U.S. equity based on their investment style. All of the four ETFs examined here invest in the same style of stocks. How would you describe the style of investing of these ETFs, based on these factor regression results? 6. Is the following statement true or false? "The variance of a portfolio of risky securities is equal to the weighted sum of the securities' variances