Which of the following statements about passive investing and active investing is false?

1. It is unlikely for the returns of passive investing to deviate too much from the market return, as compared with active investing.

2. Active investing charge lower fees than passive investing.

3. Active investing requires more hands-on approach and involves more transactions (buying and selling), while passive investing involves less trading activity.

4. Active investing aims to beat the stock markets average returns, while passive investing aims to track or replicate the market return.