Which of the following statements is incorrect about Passive investing?

a.Passive investing incurs no security analyst cost to identify undervalued or overvalued investments.

b.The capital requirement to create an index fund is so high that most institutional investors invest in funds and ETFs available in the market.

c.Equal weighted indexing method provides higher allocation to smaller capitalized equities than capitalisation weighted indexing method.

d.Security allocation methodology in a passive investment include capitalization-based weighting, equal weighting, volume weighting, price weighting etc.

e.All passive investing methods have no transaction costs since no trading takes place to take advantage of mis-priced securities