Explain two different ways to quantify the risk of this investment instrument for a potential investor.

could include: look at historical returns of the actual fund and calculate the standard deviation of historical returns, look at close enough proxy $($e$.$g$.$ the benchmark$)$ and calculate the standard deviation of its historical returns, calculate the historical $95\%$ or $99\%$ VaR, calculate the probability of loss based on historical returns

I need detailed calculation and solution process, including how to get the data.

Please try to give the different solutions mentioned above