Find five years of monthly returns for two mutual funds, Vanguard?s U.S. Growth Fund and U.S. Value Fund, as well as corresponding returns for the S&P 500 and the Treasury-bill rate. (UseSpreadsheet.xls) (see attached files)

a.Calculate each fund?s excess rate of return over T-bills in each month.(Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.)

____________________

b.Calculate the standard deviation of each fund over the five-year period.(Do not round intermediate calculations. Round your answers to 2 decimal places.)

Standard Deviation

vanguard us growth fund ________________%

U.S. Value Fund ________________%

c.What was the beta of each fund over the five-year period?(Do not round intermediate calculations. Round your answers to 2 decimal places.)

Beta

Vanguard?s U.S. Growth Fund ______%

U.S. Value Fund ______%

d.What were the Sharpe, Jensen, and Treynor measures for each fund?(Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.)

Vanguards US growth Fund US Value Fund

Sharpe measure ________________ _____________

Jensen measure _________________ _____________

Treynor measure __________________ _____________