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Two investors, Drew and Sidney, are investing in fixed income assets. Drew has a fixed income portfolio worth $5000 with a modified duration of 10

Two investors, Drew and Sidney, are investing in fixed income assets. Drew has a fixed income portfolio worth $5000 with a modified duration of 10 years. Sidney has a fixed income asset portfolio worth $12,000 with a modified duration of 5 years. Modified duration refers to D 1+y where D is duration and y is the yield to maturity. Interest rates at all maturities jumped up by .05% today. 

True/False/Uncertain: Drew's net worth must have dropped more as a result. Please explain why it is true/false/uncertain.

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