Using monthly returns, a mutual fund has a sharpe ratio of -0.20. Which of the following statements is (are) true:

A. A negative sharpe ratio indicates that the fund has underperformed on a risk adjusted basis.

B. Sharpe ratio refers to the excess return earned on the fund per unit of systematic risk.

C. The sharpe ratio cannot be interpreted as it needs to be compared to an index or category.

D. Like Jensen's alpha, a Sharpe Ratio can be interpreted without any comparison.