Suppose that a smart beta equity fund's betas based on CAPM, Fama-French, and Carhart models are given as follows: CAPM Fama-French Carhart MKT 0.45 0.37 0.43 SMB 0.23 0.44 HML 0.95 1.14 UMD -0.92 Which of the following statements is correct regarding the portfolio allocation of the fund? A. The fund's returns are negatively correlated with the market return. B. The fund's portfolio has a tilt towards value stocks that rank low in past year's returns. O C. The fund's portfolio has a tilt towards small-growth stocks. O D. The fund's portfolio has a tilt towards stocks with high market valuations compared to firm fundamentals