The risk-free rate, average returns, standard deviations, and betas for three funds and the S&P 500 are given below.

What is the M2 measure for portfolio A?

1. -1.33%
2. -2%
3. 2%
4. 1.33%

Fund Avg A 18% B 25% 20% S&P 500 15% 5% Std Dev 30% 35% 25% 20% Beta 1.05 1.3 1.2 1.0 Fund Avg A 18% B 25% 20% S&P 500 15% 5% Std Dev 30% 35% 25% 20% Beta 1.05 1.3 1.2 1.0