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 I 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? O A. The fund's portfolio has a tilt towards stocks with high market valuations compared to firm fundamentals. O B. The fund's returns are negatively correlated with the market return. C. The fund's portfolio has a tilt towards small stocks that rank low in past year's returns. O D. The fund's portfolio has a tilt towards growth stocks that rank high in past year's returns