Assume that company ABC has the opportunity to buy an ETF being offered for $103.33 per share. Company ABC has a hurdle rate of 9% and is interested in investing 50M.

Assume the following:

Month-End Average Annual Total Returns And Risks

	RETURNS				VOLATILITY (VS. MARKET BENCHMARK)
Average	NAV Return	Market Return	Benchmark Index	Market Benchmark	Alpha	R2	Beta	Standard Deviation	Sharpe Ratio
1 Year	+31.91	+31.96	+32.25	+30.00	2.62%	98.79%	0.96%	13.40%	2.15%
3 Year	+18.81	+18.88	+19.11	+15.99	2.52%	98.94%	0.99%	18.78%	0.96%
5 Year	+17.86	+17.85	+18.24	+16.90	1.03%	98.06%	0.99%	15.14%	1.09%

Portfolio Fundamentals

Valuation Info	ETF
Tracking Error	1.60
Annual Turnover Ratio	27.00%
Efficiency	0.25
Tax Cost Ratio	0.46%
Equity: Price/Trailing Earnings	25.13
Equity: Price/Book	5.02
Equity: Price/Sales	3.20
Equity: Price/Cash Flow	18.64
30-day SEC Yield AS OF --	--
Dividend Yield (Annualized)	0.99%
Net Expense Ratio	0.25%
Gross Expense Ratio	0.25%
Equity: Historical Earnings Growth %	+19.91%
Equity: Sales Growth %	+2.88%
Equity: Cash Flow Growth %	+10.78%
Equity: Book-Value Growth %	+4.07%
Net Assets	$3.7B

Dividend:

Record Date	Ex-Date	Payable Date	Total Distribution	Income	ST Cap Gains	LT Cap Gains	Return of Capital
Sep 27, 2021	Sep 24, 2021	Sep 30, 2021	0.31	0.31	0.00	0.00	0.00
Jun 11, 2021	Jun 10, 2021	Jun 16, 2021	0.19	0.19	0.00	0.00	0.00
Mar 26, 2021	Mar 25, 2021	Mar 31, 2021	0.25	0.25	0.00	0.00	0.00
Dec 15, 2020	Dec 14, 2020	Dec 18, 2020	0.26	0.26	0.00	0.00	0.00

Calculate the NPV, ROI, IRR, and WACC of this investment.