Two investors, Drew and Sidney, are investing in fixed income assets. Drew has a fixed income portfolio worth $5000 with a duration of 10 years. Sidney has a fixed income asset portfolio worth $8,000 with a duration of 5 years. Interest rates just jumped up by five basis points today. Which investors portfolio saw a larger dollar loss?

(a) Drews.

(b) Sidneys.

(c) Unclear, depends on the maturity of the bonds in the respective portfolios.

(d) Unclear, depends on the current level of interest rates.