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The following information is from FACTSET comparing a hypothetical Value Fund to S&P 500 Value ETF. Value Fund Total Percentage return = 11.82%% iShares S&P

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The following information is from FACTSET comparing a hypothetical Value Fund to S&P 500 Value ETF. Value Fund Total Percentage return = 11.82%% iShares S&P 500 Value ETF Total percentage return = 6.79%% Value Benchmark Allocation Selectio fund Weights Effect Effect weights Total 100.00 100.00 10.48 -5.45 Commercial 2.07 2.35 0.55 Services Communications -- 1.34 Consumer 0.94 2.95 -0.65 Durables Consumer Non- 1.68 5.16 -0.73 Durables 0.08 0.17 -0.11 -0.16 Consumer 0.35 4.02 Services Distribution 0.56 1.58 Services Electronic 0.92 14.60 Technology Energy Minerals 12.87 2.47 Finance 54.92 14.42 Health Services 2.31 Health 10.20 Technology Industrial 0.51 0.80 Services Non-Energy 10.27 0.50 Minerals Process 4.45 2.09 Industries Producer 2.39 3.95 Manufacturing Retail Trade 6.41 8.38 0.75 0.17 -0.62 5.95 0.86 -0.48 -0.67 -0.10 2.73 -0.04 0.28 0.22 -0.29 0.15 -0.19 -3.43 -0.38 0.05 -0.75 1.44 -0.57 -0.52 Producer Manufacturing 2.39 3.95 0.28 Retail Trade 6.41 8.38 0.22 Technology 0.30 19.34 1.51 Services Transportation 1.84 0.16 Utilities 0.36 2.53 -0.23 Which economic sector has the largest positive contribution to the allocation effect? O Finance O Non energy minerals O Producer manufacturing O Energy minerals -0.57 -0.52 -0.07 -0.05

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